The Press. — London, England, 1857-03-14 00:00:00

MARCH 14, 1857. 18,9.051., or bid. in the pound. In the same year the renta l of the parishes of Holborn, East and West London Unions, St. Matthew, Bethnal-green. and St. George's, Southwark, was 614,0001. and the poor rate 77,3331. The number of paupers now supported at the public expense in London was 327,000 ; and it bad been estimated that in any one day throughout the year the number of inmates of the various unions in the metropolis was 23,000, whilst the number for the whole year was 70,000. The number of paupers who received out-door relief in any one day was found to be 68,000, and in the whole year 238,000; the total, therefore, in any given day was 91,000, and through. out the year 307,000. But to meet this state of things, the poor rate was so unequal that, whereas many of the poorer parishes paid 45., Os., and even Os. in the pound, some of the richer districts were assessed as low as Is. 3d., Is., and even 21 in the pound, whilst in certain parishes the inhabitants paid no poor rate at all. The question was how to reform this objectionable state of things? It appeared that the total rental of the metropolis was twelve millions sterling, and an annual poor rate levied upon all the parishes in fair proportion would yield an average of Is. 2d. in the pound or 7130,0001. He concluded by moving that it was desirable that steps should be taken towards obtaining an equalisa tion of the poor rate. The Rev. Bryan King, rector of St. George's-in the-East, disapproved of this move ment, as it was an approach to communism, and objected to its centralising tendency. The Rev. W. M‘Call, incumbent of St. Mary's, St. George's East, the Rev. Hugh Allen, incumbent of St. Jude's, Whitechapel, and several other reverend gentlemen addressed the meeting in favour of the resolution. A petition to Parliament was then adopted, and signed by all the gentlemen present. THAT ANCIENT AND BEAUTIFUL BUILDING, CROSBY HALL, said to be the only specimen of domestic architecture in England, is in danger of falling a sacrifice to the utilitarianism of the ag e . The pro prietors, it seems, seek a more profi table return for their property than that derived from the eve ning classes and other tenants. A meeting of the members of the evening classes took place in the hall on Saturday evening, when a committee of eight was formed to co-operate with the committee of the insti tution, with the view of devising a plan by which the palace of Sir John Crosby shall be permanently retained for the use of the evening classes. It is to be hoped that this effort will be crowned with success. The lease of the entire building can be purchased for about 5,0001., and the committee have to decide upon the acceptation or refusal of this purchase by the 25th instant. SECOND EDITION. SATURDAY AFTERNOON. LATEST INTELLIGENCE. IT is announced that Lord ELGIN is to proceed as Plenipotentiary to China. Elsewhere we have stated that the post was previously offered to, and refused by, the Duke of NEWCASTLE . The appointment of Lord ELGIN is highly sa tisfactory. It is questionable whether any better man could have been found. The " factious" vote of the House of Commons has then had one good result. It has led to a special mission with Lord ELGIN at its head, thus superseding the authority of Sir JOHN BOWRING and Mr. Consul PARKES. We have it on the authority of Mr. LINDSAY that at the meeting of Lord PALMERSTON'S supporters, held previous to the division in the Commons, Lord PALMERSTON approved all Sir JOHN BOWRING'S acts, expressed himself determined to support them, and resolutely resisted all concession to the wishes of persons who, like Mr. LINDSAY and Lord GODERICH, desired that a special mission should be despatched to China. The case then stands thus :—Either Lord PALMERSTON has been converted to the opinion of the factious majority in the Commons, that it was desirable to send out a Plenipotentiary to supersede Sir JOHN BOWRINO, and to en deavour to settle the China quarrel ; Or, he resisted such proposal that he might have an opportunity of dissolving the House of Com mons, and attempt to get another more de- voted to his will. The result of Lord ELGIN'S mission must greatly depend on the nature of his instruc tions. If he is compelled to insist on that " new demand" by Sir JOHN BOW RING which led to hostilities, it is to be feared that they may be long protracted to gain a concession of not the slightest real impoitanue. The speech of Mr. EDWIN JAMES at tho Guildhall yesterday is one of tho most extra- THE PRESS. ordinary nisi pries exhibitions ever made before a public assembly. Mr. JAMES makes two grand assertions. The first is—that all the despotic Courts of Europe tremble bt Lord PALMERSTON'S name. If ho had looked into the Times of that morning he would have seen by the correspondence from Vienna that all the Austrian official journals lamented the defeat of Lord PALMERSTON in the Commons as a great misfortune to Austria, Lord PALMERSTON having lately become Austria's " most obedient humble servant." The second assertion is not less extraordinary. It is that " Mr. DISRAELI hunted Sir ROBERT " PEEL to death." We had thought it was tolerably well known that Sir R. PEEL died through a fall from his horse, having pre viously been in full health aad spirits. If Mr. EDWIN JAMES is looking for Government favour, he should endeavour to qualify for it by more decent practices. The election intelligence of this morning does not contain many new items. The contest will, however, be more severe through the country than was at first anticipated. The Government machinery is getting into gear, and tremendous efforts will be made by some means or other to return a Pahnerston ma jority. The official Liberals, having submitted to his dictation, will fight desperately to retain their hold of place, and to defeat every candidate who will not join in their cry of " PALMERSTON for ever !" The statement made by Lord CLARENDON in the House of Lords last night with refer ence to the terms of the Persian Treaty is important. The Noble Earl admitted that England had relinquished the right of protec tion to native subjects. It was upon this very right that the Persian war originated ; yet this point is conceded to Persia, and 'we are congratulated upon the " highly advantageous " terms of the treaty. I'EhSIA. Intelligence from Trieste, March 13, states that the Journal de Constantinople of the eth expresses a hope " that the Shah of Persia will have the resolution to ratify the treaty of peace with England." TURKEY. A despatch from Constantinople of the 6th inst. announces that Admiral Lyons, in an order of the day, has pointed out the order of departure of the vessels of his squadron from the Bosphorus. They are to leave in succession, and repair to Malta, where they will all assemble before proceeding to England. Admiral Lyons himself will leave Constantinople on the 15th, in the Royal Albert, at which time the only vessel remaining will be the Miranda, attached to the service of the English Embassy. The regulations for the bank at Constantinople have been distinctly approved, but with important modifications. PRUSSIA AND NEUFCHATEL. A despatch frcm Paris, " Friday, six p.m.," states it is expected that on Sunday a sitting of the Conferences on the Neufchatel affairs will take place. Conciliatory despatches from Berlin are telegraphed as about to leave that city. The New Prussian Gazette affirms that the ad- mission by Switzerland of the King of Prussia's right of sovereignty is the express condition of the renunciation of that tight. New instructions to that effect have, it declares, been forwarded to Count de Hatzfeldt. The purchase of the Soulages collection has been declined by the Government, in consequence of the recent financial discussions. A public meeting to discuss the Chinese and Per sian wars is advertised to be held at the Freemasons hall on Monday evening. Mr. Cobden and Mr. Layard are expected to attend. This is an opportu nity which all Conservatives opposed to the present system of "turbulent and aggressive " foreign policy should not fail to take advantage of. TILE ROYAL BRITISH BANK. - _ Mn. EsnAir.r, late Governor of the Royal British Bank, underwent his first examination at the Bank ruptcy Court on Wednesday last. Mr. Linklater appeared for the assignees; Mr. Nenning tor Mr. Esdaile. The examination resulted id some ourious disclosures. Mr. Esdaile admitted that upon the opening of the bank on Nov. 19, 1849, of the 50,0001. subscribed capital to be paid up, according to Act of Parliament, only 20,2501. were actually paid up in cash and lodged to the credit of the British Bank in the Pauli of England, He had no recollection as to the 251 source from which the sums of 5,685/. and 3,1101. — paid into the credit of the account on the 20th and 21st of November, 1849—were derived. He had no recollection whether loans had been obtained by the directors to swell their account at the bank : his mind was " a perfect blank " upon this point. Upon the 29th of October previously to commencing busi ness the directors made a loan to Sir James.WKen zie of 7,5001. They also divided 1,1001. among themselves for preliminary expenses without enter ing that sum in the books of the bank. Of this 1,1001. Mr.J. M'Gregor, the governor, took 500/.,while 600/. were divided among the directors. He admitted that the directors, contrary to Act of Parliament, had, without leave of the Privy Council, repaid deposits to certain depositors, who refused to sign the deed of constitution. When elected governor of the bank, in February, 1855, he investigated the accounts, and found that, besides himself, Mr. Humphrey Brown, Mr. M'Gregor, Mr. Cameron, Mr. Coppins, and Mr. Walton had opened ac counts with the bank. Mr. Cameron owed upwards of 15,0001. on his discount account. Mr. Mullen', the solicitor, who died in 1853, was also in debt to the bank 13,0001. In reply as to what was the meaning of the entry in Mr. Cameron's private ledger, " May 6. To the credit of th e accoun t of H. T. Cameron, Esq., E. Esdaile, 500/.," witness explained that in the August previous Mr. Cameron had lent him, on his promissory note, from the monies of the bank, 5)0l. It was a "purely private transaction," and was not known to the directors till he, Mr. Esdaile, as governor, examined the accounts in February, 1855. It was the only transaction witness ever had with Mr. Cameron, and arose from a resolution of the board that the directors should double their qualification. So that, in point of fact, the application of the 5001. borrowed from the bank was to pay to the bank the same amount for ten new shares. From Feb., '53 to June, '5O, witness permitted Cameron, though indebted to the bank 8001. on his drawing account, and 15,0001. on his discount ac count, still further to overdraw his account to the extent of 3,9571., the whole amount being lent upon Cameron's personal security. Witness was aware that the bank had no power to advance money en its own shares, but as Cameron, Chandler, Humphrey Brown, M'Gregor, and others held these shares, the bank took them as "collateral securities." For instance, Mr. Chandler, one of the auditors of the bank, wanted to borrow 8501. Mr. Cameron leut him the money from the bank, on his promissory note, taking his nineteen bank shares as a " collateral security." The subject of the Welsh mines was then gone into at some length, Mr. Unklater pressing with pertinacity the point whetbe.• Mr. Esdaile con sidered that he and the directors in June, 1856, were making an honest statement to the shareholders in setting down as assets the 120,0001. expended and lost in the Welsh property. Witness refused to reply directly to this question, but admitted that the bank at that date feared that they would lose be tween 50,0001. and 70,0001. Witness afterwards admitted that in December, 1854, in June and December, 1855, and June, 1856, if they had taken off from the assets of the bank those debts that were bad, and only those that were bad, they ought not to have divided one shilling of profit among the shareholders : - Were not the same circumstances known to your fellow directors ?—1 presume the same impressions were present to their minds. Ido not like to speak for others. I ask you whether, before the completion of the accounts ending the 30th of June, 1656, there were not frequent consultations between yourself and your fellow directors, whether you ought or ought not to misrepresent the affairs of the bank ?—Whether we ought or not to make a dividend there was. I ask you whether there were not discussions among your body before the accounts were closed up to the end of June, 1856, as to the propriety of setting forth the bad and doubtful debts in a different manner ?—No, I have no recollection of it at all. Witness, after much pressing, also admitted that by the 20th of June, 1k55, the bank was insolvent : Did you not know in June, 18.55, that the whole 100,0001. was lost? That is my question to you, and I will prove it ?—I was not prepared to say that 10:fore Mr. Coleman's statements were, iu their placed before us. Did you believe that the bank was solvent then ? No. have already a.lmitted, subject to my own explanation, that we did not at that time regard it as solvent. I)o I now understand you to say that you beli:ved the original paid-up capital of 50,000/. had been lost, and that the bank was insolvent in June, 1855 ?—I think I must admit as much as that. to say that, including the from that time dcwn to the on dividing the dividends in son believed the whole first C. dividend in the shape of gh you knew the whole 1 .0001. bed been lost ? awned till V{e4tgOs7 Then, do I understand yon to account of June, 1855, and from closing of the bank, you went on d the shape of profits, although you paid•up capital had gone ?—Yes. You went on declaring a divi profit to the shareholders, althoug of the original paid•up capital of CA We surmised it. The case was shortly oftcr adjoi next. C111,a• itted 1 . his t ac- the upon ware T en 'key ~ the For P the l a : lent S; note teral then (sing con- were ra in and !d to t the a be- nber, 1856, bank ...t s • -..% were %.*: ng of allow- •esent f the e not ellow- :esent not to aneng a end le had N'e no at by whole and I -. :e Mr. placed. No. )atwn, t' l e a d t t h h a e t must )g the to the Inds in le first ape of whole ost ? asds/