The Sun. — London, England, 1857-03-12 00:00:00

MONT BLANC IS OPEN TO-NIGHT. AIR. W. S. WOODIN'S OLIO of MART 1 i - ':_, with New Costumes and v rious Novelties, Tocal and Ch ,- v racteristic, every evening (except Saturday) at Eight. A MORN ING PERFORMANCE every SATURDAY, at Three. Private Boxes and Stalls may be secured, without extra charge, at the Box-office, P olygraphic-halt, King William-street, Charing-cross. The hall has been entirely redecorated. ------- CASINO DE VENISE, High Holborn. BAT, MASQUE. The Last and most splendid of the Season. The annual benefit of ifr • Packer. THURSDAY, March 12th. Osors open at half-past N ine. No free Admissions. Costumier, Mr. Nathan, Castle-street, Leicester-square. .ARGYLL ROOMS.—LATJRENT'S CASINO, Great Windmill-street, St. James's.— The above elegant Rooms are now open every evening for the winter season, with Laurent's celebrated Orchestra. Principal Cornet-a-piston, M. Boulcourt. The Proprietor begs to inform the public that this fashionable place of resort has bean entirely redecorated during the recess. Doors open at half-put eight, commence at nine. Admis sion One Shilling. GORDON CUMMING, the LION HUNTER, will give his new and popular ENTERTAINMENT, descrip tive of his EXPLOIT and ADVENTURES in SOUTH AFRICA every evening, except Saturday, at S. MORNING REPRESENTA TION every SATURDAY, at 3 o'clock. The Lion Hunter's Bush People, tt orn the great Kalahari Desert, will appear incidental to the Entertainment. Fiano by Mr. Harries Wilson, Area, Is. • reserved seats, 25.; stalls (which may he taken daily between eleven and four, at the Museum), 35.-232, Piccadilly. GENERAL TOM THUMB, the Original, who appeared Three Times before her Majesty in 1844, performs THREE TIMES DAILY, at PRINCE OF WALES BAZAAR, 209, Regent-street, from Half-past Twelve to Two, llalf past Three to Five, and half-past Seven to Nine o'clock. New Songs, Dances, Costumes, Imitations, &c. Admission, Is., regardless of age ; Stalls, 21.; Children, Is. THE GREAT TOBACCO CONTROVERSY. Dr. SEXTON will LECTURE on this important topic daily at 3 and half-past 7 p.m , at Dr. KAHN'S MUSEUM. No. 4, Coven try. street, Leicester-square. The Museum, which now stands wholly unrivalled in the world, and the rarity and completeness of whose contents have already acquired for it an European reputation, and Obta;ned the warm commendatloa of the press in this and other coun tries. is Open daily. for Gentlemen o ly, from 10 to 10. A new Lecture is delvered by Dr. Ream at half-past 8 p.m. precisely. Ad mission, One -billing. Descriptive Catalogues of the Museum, con taining Lectures as delivered by Dr. Khan, gratis to the visitors. R OYAL NATIONAL LIFE-BOAT INSTITUTION for the PRESERVATION of LIFE from SHIPWRECK.—The ANNUAL GENERAL MEETING of this INSTI t urioN will be bold at the London Tavern, Bishopsgate street, on THURSDAY next, the 19th inst., at Two o'clock precisely ; his Grace the Duke of Northumberland, K.G., President of the So ciety, in the Chair. RICHARD LEWIS, Secretary. 14, John-street, Adelphi, March 12, 1857. IN the matter of the Joint - Stock Conwinies Winding-up Acts, 1848 and 1819, and of the Security Mutual Life Assurance Society: By the direction of the Vice-Chancellor Sir Richard Torin Kinder aley, the Judge to whose Court this matter is attached, NOTICE IS HEREBY GIVEN, that the said Judge will proceed, on FRIDAY, the 27th day of March instant, at one o'clock in the afternoon, athis Chambers, No. 3, Stone-bui'dings, Chancery-lane, Lonlon, to settle the list of contributories of the Society, and that after such list sha 1 have been settled no p Arty aftected thereby will be allowed to dispute the same a ithout leave of the High Court of Chaneery first obtained. Dated this 10th day of March, 1857. CHAS. PUGH, Chief Clerk. BANK OF DEPOSIT, No. 3, PALL-MALL EAST, LONDON. Established A.D. 1844. Parties desirous of INVESTING MONEY are requested t• examine the plan of the Bank of Deposit. Prospectuses and Forms for Opening Accounts sent free on appli cation. PETER MORRISON, Managing Director. SECIJRE I N VESTMENTS.-Mr. REGINALD HORT,EY, 411, Threadneedle-street, Sworn Stock, Share, and Xining Broker, will be happy to forward a list of carefully selected Securities, paying good dividends, to those who may favour Wm with their business, and to advise them on the safest mode of investing . their capital. Business transacted in the English Funds at 1-16th Per cent., and in all Stocks, Railway and Mining Shares, on the most reasonable terms. A selected list of dividend-paying (from 12 to 20 per cent.) and progressive mines to be had personally or per letter. QUEEN'S HOTEL, ALDERS HOTT, commanding a complete and uninterrupted View or the whole Camp. The owner of this magnificent Establishment has now made - arrangements which enable him to let it, together wi h the Tap, ex tensive St Abling, and two acres of Land , on tents to be agreed upon. The situation is unrivalled—at the entrance to the North Camp fr the Farnborou,h- , oad, and the extensive operations contemplated by Government during the ensuing en nmer will insure, under spirit ed and enterprising management, an enormous trade, for which the premises are, by extent and convenience of arrangement, in every way adapted. For particulars and terms apply to Mr. Debeeham, Auctioneer and Estate Agent, 80, Cheapside. lALT and Co.'s EAST INDIA PALE and BURTON ALES. BnEwERY—BURTON-ON-TRENT. STORES: -- L0ND0N............ — --- Hungerford-wharf. LIVERPOOL .. • ......... • 72, Henry-street. MANCHESTER ..... •.. 37, Brown-street. SHEFFIELD l2, George-street. BIRMINGHAM Old Conrt-house, High-street. BRISTOL. •• • DUBLIN ll, Temple-lane. EDINBURGH ......... GLASGOW St. Vincent-place. These Ales, in Casks of Eighteen Gallons and upwards, and in Bottle, obtained from all respectable Bottlers. JOZEAIJ'S COPAHINE, or SACCHARATED CAPSULES, approved of by the French College of Physicians, successfully administered in the Paris and London Hospitals, and acknowledged by them to be the best remedy for a certain disorder. (See " Lancet" of Nov. 6, 1852.) A copy will be forwarded on appli cation.—Frice per 100, 48.6 d. ; 50, 2s. 9d. To be had of the inventor, (}ABRIEL JOZEAU, sole French chemist, 49, Haymarket, London, and all the principal chemists. CANCER HOSPITAL, London and West Brompton.—Reeretary's Office, 167, Piccadilly.—This Institu tionlies been established exeinsively for the treatment of the poor lialletorLarlth eaneerointAistanies: Oat-door patients tonttend at 167. Piccadilly, on Tnesdaysimttecteek. In-door patients are admitted at the Brompton Establishment, for one month, and for a longer period if recommended by the medical officers. The number of per sons under treatment as in or out-door patients have averaged for the last three years about 400 cases each year. Since the foundation of this Hospital in 1851, 1,799 poor persons, suffering under every form of this dreadful malady, have received the benefits of this Charity. A Weekly Board manage its affairs, and every informa tion connected with the Institution may be obtained on application to the Secretary. Contributions to enable the Committee to continue this great work of benevolence are urgently solicited, and may be paid to William Loxham Farrar, Esq., the Treasurer, 66, Lincoln's- Inn-acids; Messrs. Coutts and Co., Strand; and at the Secretary's Offices, 167, Piccadilly. By order. W. J. COCKERILL, Secretary. ROYAL FREE HOSPITAL, Gray's-inn-road. Patron—The QUEEN. —Founded 1525. The sick poor are admitted on their own application alone; no re commendation is required. During the past month the following number received the benefits of this Charity, either as out or in-door patients, on their personal application:— _ _ . Week ending 7th November ...... 2,154 Ditto 14th November.... .. 2,043 Ditto 21st November...... 1,972 Ditto 28th November ...• .. 2,309 Ilth and 30th November •• • • ...... 269 Total in November • • 8,747 Of which 2,775 were new cases, the remainder (still under treat ment) having been admitted previously. The clergy of all denominations have unlimited access to the patients. Heavy expenses are inevitably incurred In affording such exten sive relief. The Committee, therefore, earnestly entreat the aid of be public. The management of the Hospital is in the hands of 3(1 Governors, yearly elected from the general list of subscribers, at the Annual general Meeting in January. A Board Is held every Thursday, at 4 o'clock (Rev. J. B. Owen, Chairman), to conduct the business, when any subscriber may attend, if so disposed, the Board being at all times desirous of receiving suggestions or giving explanation. The Hospital is not endowed, but is wholly dependent on volun tary contributions and legacies, which are received by the Treasurer, John Masterman, Esq., M.P., Nicholas-lane ; also by Messrs. Coutts and Co. ; Drummond and Co.; Berries and Co.; Ransom and Co. ; Prescott, Grote, and Co. ; Smith, Payne, and Co.; Glyn and Co. ; Jones Loyd and Co.; Barclay and Co. ; Denison and Co. ; Williams. Deacon, and Co. ; Overend, Gurney, and Co. ; Nisbet and Co., Ber hers-street ; Masterman and Co. ; and at the Hospital. Clothing for the destitute patients will be thankfUlly received. By order. J. B. OWEN, M.A., Chairman. ON PHYSICAL DISQUALIFICATIONS, GENERATIVE INCAPACITY, AID IMPEDIMENTS TO MARRIAGE. New and improved Edition, enlarged to 196 pages, illustrated by 100 Anatomical Coloured Engravings on Steel, just published, price, free by post, Is., THE SILENT FRIEND : A M e di ca l Work on the physical exhaustion and decay of the frame, from the effects of solitary indulgence, infection, and the injurious conse quences from the use of Mercury ; with observations on the obliga tions of marriage, and directions for obviating certain disqualifica tions. By R. and L. PERRY and CO., Surgeons. Sold by J. Allen, Ses, Warwick-lane, Paternoster-row; Sanger, 160, Oxford-street; and Gordon, 146, Leadenhall-street, London. The CORDIAL BALM of SYRIACUM is employed to renovate the impaired powers of life. Its action is purely balsamic ; its power in reinvigorating the frame in all cases of nervous and sexual 4e nility, obstinate gleets, impotency, barrenness, and debilities arising from venereal excesses, has been demonstrated by its unvarying success in thousands of case;. Price I Is. per bottio, or four quan tities in one for 335., which saves I I s. The CONCENTRATED DETERSIVE ESSENCE, an anti-syphi litic remedy, for purifying the system, and is recommended for any of the varied forms of secondary symptoms, such as eruptions on the skin, blotches on the head and face, enlargements of the throat, tonsils, and uvula ; threatened destruction of the nose, palate, &c. Its action is purely detersive, and its beneficial influence on the system is undeniable. Price I Is. and 335. per bottle, also a saving erns. PERRY'S PURIFY ING SPECIFIC PILLS constitute an effec tual remedy in all cases of gonorrhoea, gleet, stricture, and diseases of the urinary organs. Price 2s. 9d.. 4s. Gd ,anlll s. per box. Sold by Barclay and Sons, Farringd , n-street Darby and Gosden, W. Sutton and Co., 10, Bow-churchyard 140, Leadenhall-street ; W. Edwards, 67, St. PauFs-cbarchyard ; J. Sanger, 150, Oxford- Street; Hannay and Dietric . hsen 63, Oxford-street; Butler and Harding, 4, Cheapside ; Fron t and Harsaot 229, Strand ; and all m edicine vendors throughout the United Kingdom. OTHER NERVOUS, BILIOUS, AND AND DEBILITY. Ito MORE FILLS NOR ANY MEDICINE TrIMA CONSUMPTION, n RESTOR- Olt eoNI TIpATION, INDIGESTION, DYSPEPSIA, LtvElt coM PLAINTS, COUGH, AS- 9 .-.- -rn ALT.....-...._ times its DEr BARRY ' S delicious .11r-i ING REV A.LENTA ARAB above complaintsdisten cost in other remedies and cures the flatulency, consequences, such ' hemorrhoidal affections, ervous headaches, FOOD as glom acidity, heartburn, palpitation CA of the heart, n d earS, Pains at savesflutyand their hysteria, n the pit of thueraslt erysip scrofula, I. deafness, noises in shoulders,d an e i s s, erup mach and between the tionB of the skin, i mpurities and regns droPsY, rheumatism, P i kness dunn,, leen, after eating, or at ite go . ut, nausea and s c i ePileP tic fits ' 'p iling, low spirits, blus general debility, ininne't spasms y poverty of the blood. ney, of mo nde, sleeplessness, in paralysis, tremors, dislike t society, unfitness foi l 1 notion, taelan lood to the head, ex 1 cholY, groundlegs feta; reover, the n est food for infant. , wretchedness. It Is, la o it neYer turns acid on the sveak a e n s c t i invalids generally, a- SIMIY, loss with a good liberal diet, but imparts stomach, nor interferes and restores the faculty of dige4 to the most enfeebled. Support " and nervous and muscular healthy relish for lunch and dinner, led Professor of Chemistry I ir. rip testimonials from the celebra r - - Vey, Dr. Campbell, De Gattikern Stuart de Decies, the Dowager Co' drew tire, Dr. Shorland, Dr .1 1 la . Coo tr. Wurzer, Dr. Ingram, Tola other well-known individuals, whose) hen r ,afterallth has been restored by C astlestuart, and 50,000 this useful and economical diet teher means had been tried in vain for many years, and all hopes of re aver Y abandoned Analysis by the celebfra.Dted, rpnro.sfe.s.,sostre.,oscf .11‘1311strY Andrew ire, " L e o x n a d m o n i a, e2d4,l)Ralocrnsbnry- square. " I hereby certify, that having arrS's Revalenta Arabica I find it to be a pure vegetable Farina, ion ofd he some, easily digestible, likely to promote a healthy acct whole stomach and bowels, and thereby to counteract dyspe tion), constipation , and their nervous consequences. P a (india. ANDREW Ilan, M.D., F.R.S., &c., Analytical Chemist." Ukase by the Emperor of Russia. Russian Consulate Genet al, London, Dec. 2, 1847 , The Consul-General has bee n ordered to inform Messrs. Du Barry and Co., that the Itevalenta Arabica they had sent harry,tolii Majesty the Emperor, has, by imperial permission, been forwarded to the Minister of the Imperial Palace, Suitably patked for all climates, and with full instructions. In canisters, lib 2s 9(1; 21b 45 6d ; 51b lls , 121 b 223 ; super refined quality, Ilb 63 ; lb 118 ; 51b 22s ; 101 b 335. The 10P) and 1211) cards t era are forwarded carriage free, on receipt of Post-oflice order. Barry Du Barry and Co, 77, Regent-street, London; Fortnum, Mason, and Co.. Purveyors to her al Beaty , 182, Piccadilly ; also at 60, Graeeelaurch-street ; 330 and 451, Strand ; 4, Cheapside ; 68, Cornhfti ; 49, Bishopsgate-street ; 55, Charing-cross; 4 54, Upper Ulm-at ;63 aucl 150, 014 rd-street. Now ready, price 2d., Part I. of FEIST'S RACING RECORD, containing a complete CALENDAR of SPORT, from the Ist of January to the day of publication. Edited by ALBERT FEIST, _ _ Editor of the Turf Department of the "Sundae Times," and Reporter of Sporting Intelligence to the London daily papers, &c. Printed and published, on the Ist of each month, by William Wright, Sporting Printer and Publisher, Fulwood rents, Holborn. ,N o . 20,196.) PUBLIC ATIO NS. Now ready at all the libraries, in 3 vols., THE DAYS OF MY LTFE. By the Author of " Margaret Maitland," &c. " The author writes with her usual fine capacity for the picturesque, her preference for simplicity, and her invariable good sense, good feeling, and good taste. No part of the narrative is uninteresting." —Athenmurn. " Full of touching passages and well-wrought scenes."—Examiner. Hurst and Blackett, Publishers, successors to Henry Colbern. Cheap Edition, complete in 8 vols., with Portraits cf every Queen, price 7s. M. each, bound, L IVES of the QUEENS of ENGLAND. By AGNES STRICKLAND. Miss •=trickland has given a most valuable contribution to the history of England, and we have no hesitation in atlirming that no one can be said to possess an accurate knowledge of the history of the country who has not studied this truly national work."--Herald. Hurst and Blackett, Publishers, successors to Henry Colburn. Price Three Pence. SAVINGS BANKS, their History, Laws, Investment, Management, Interest, Defalcations, Responsibility of Government, Trustees and Officials, Past Progress, and Present Results ; with Remedial Su g gestions. By the Rev. J. BEAUMONT 11A.WKIN'S, B.A. London : Longman, Brown, and Co. ANNOTATED EDITION OF THE ENGLISH POETS. This Day, in One Volume, 2 s 6 d , ANCIENT POEMS, BALLADS, and SONGS of the PEASANTRY. With Introduction and Notes by ROBERT BELL. Already Published, CHAUCER. Eight Volumes. 20s. DRYDEN. Three Volumes. 7s. Gd. COWPER. Three Volumes. 7s. 6d. BUTLER. Three Volumes. 7s. 6d. TIIO VISON. Two Volumes. ss. BEN JONSONI. One Volume. 2s. 6d. GREENE AWD MARLOWE. One Volume. 2s. 6d. SITAKSPEARE. One Volume. 2s. Gd. OLDHAM. One Volume. 2s. 6d. WALLER. One Volume. 2s. 6d. WYATT. One Volume. 2s. 6d. SURREY and MINOR POETS. One Volume. 2s. 6d. SONGS from the DRAMATISTS. One Volume. 6d. EARLY BALLADS. One Volume. 2s. 6d. London : John W. Parker and Son, West-strand. Just published, price 2d., or post free 3d., the 102 d Edition of THE NATURAL REGENERATOR of the DIGESTIVE ORGANS, the STOMACH, f, i VER, NERVES, LUNGS, &c., without Medicine, Galvanism, Electricity, inconve nience, and expense, by an easy, natural, pleasant, and infallible remedy, which saves fifty times its cost in other means of cure. Supported by testimonials from the celebrated Professor of Che mistry, Dr. Andrew Tire; Dr. Shorland ; Dr. Ha vey ; Dr. Camp bell ; Dr. Gattiker ; Dr. Wurzer ; Dr. legram ; T.ord Stuart de Decies ; the Dowager Countess of Castle-Stuart ; Major-Gen. Thomas King, and many other respectable persons, whose health has been restored by it, after all other means of cure had failed. ,London : Barry Du Barry and Co., 77, Regent-street. The Third Edition. Just Published, price ss. by post, free, ss. 6,1. ON TRUE dr FALSE SPERAATORRMEA, with the View of distinguishing the Imaginary from the steal Sufferers under this disease, and Correcting of wide-spread Errors in relation to their Treatment and Cure. Translated from the German of Dr. PICKFORD. "Dr. Picktoid is known to English readers by his frequent pract, ~a 1 contributions to Gorman medical literature. This is the first time, he informs as, that ho has addressed himself to the non-meth :al reader. We trust this may not be the last, if he shall detect any )ther equally flagrant evil which it may be in his p)wer to cor ,ect."—London Medical Gazette. " The tribe of ' Quiet Sympathisers,' end 'Medical Friends,' are mercilessly exposed; and if this book ould find its way into the hands of those whe suffer from the com plaint of which it treats, we are satisfied that many hundreds would be saved much needless suffering of body and mind, and what is of ess importance, though it is that which the quacks most prize— much money...... This volume is well qualified to put an end to the e mpirical system of treating Spermatorrhma, and to place the treat. ,nent upon a more rational and physiological basis. It is, ther e f ore , ikely to do much good."—Medical Circular. London: H. Balliere, '219, Itogent-street. ROYAL SURREY GARDENS. AGRAND CLASSICAL CONCERT, in a'd of the Funds of the EARLY CLOSING ASSOCIATION, Thursday Evening, the 19th inst. See Placards and other Adver tisements. , JOHN LIL%YALL, Hon Sec. LAW INTELLIGENCH.—March 11. COURT OF BANKRUPTCY. (Before Mr, Commissioner Holroyd.) 111 THE ROYAL BRITISH BANK-EXAMINATION OP MR. ESDAILE, THE GOVERNOR OF THE BANK. This was a sitting appointed for the examination of Mr. Edward Esdaile, the governor of the brrnk. Mr. Linklater appeared for the assignees, and Mr. 'Pen ning for Mr. Esdaile. Mr. Esdaile, examined by Mr. Linklater—My Cbristian name is Edward. I am residing now in London, at my father's house, in Bedford-place; without occupation. I was formerly a director and also governor of the Royal British Bank. I was on its provisional committee, and have been connected with it as a director since. Wren did you first become a director of the bank ?—I think it was in the early part of 1849. The exact month I do not recollect. January or February, I dare say. When did you become a governor of the bank?—ln Feb ruary, 1855. Did you continue to act as a director of the bank from the time it commenned business in 1849 down to its close in Sept., 185 i ?—Yes. Examination continued—l was at no period daring that time out of the direction. I was governor from Mr. Wal ton's retirement from the chair, in Feb., 1855, and con tinued governor down to the time of the closing of the bank. The bank commenced business on the 19th Nov., 1549. What was the amount of subscribed capital with which the bank started ?-50,0001. Subscribed capital 2-100,000/. Be kind enough to pause a little before you answer the next question. How much of that capital was paid up when the bank commenced business?-50,0001. Do I understand you to say that the whole sum of 50,0001. had been actually paid up in cash before the bank com menced business 2—Cash or the representatives of cash. Will you tell me how much had been paid up in cash ? —I do not exactly recollect within a few thousands, the balance being ropresented by notes of hand, which were deemed to be equivalent to cash. That account produced is one that has been prepared by Mr. Coleman (handing an account to the witnesA). Will you be kind enough to look at it, to see whether the repre sentation is correct, that the actual amount subscribed in cash up to the time when the bank commenced business was 42,765/. 6s. 5d., and no more?—l believe that is the fact. I cannot say, but I believe it to be so. Was the remainder of the 50,0001., viz., 7,2321. 13s. 7,1., made up of the promissory notes of the several dates named in that account ?—To the beet of my belief, I was then a junior director, and of course these things were managed then by the governor, deputy-governor, general manager, and solicitor. Were you aware that before commencing the business of the bank the act of Parliament required that the whole sum of 50,0001. should have been actually paid up?—Yes, in one way or the other, essentially paid up. Do I understand you to represent that you believed the directors had complied with the requirements of the act O Parliament ?—ln spirit. Bnt not in fact ?—Not in fact, if it is to be assumed that the 50,000/. were intended to be in sovereigns or bank notes. Will you tell me how much cash the bank had actually at its disposal when it commenced business on the 19th of Nov., 1849 ?—I cannot charge my recollection with the sum. Just look at that (handing the book to the witness.)—l have no doubt that is correct. I understand you to say you have no doubt the bank book is correct ?—I can have no doubt of that. Then you mean that the cash actually standing to the credit of the bank ix the Bank of England was 20,2501., and no more?—yes, I presume that is correct. I observe that on the 20th and 21st of November there are two sums of 5,6851. and 3,110!. placed to the credit of the account with the Bank of England. Will you tell me from what source these two sums came ?—I cannot. I have no recollection at all. Have you any means of ascertaining?—No doubt I should refer to the accounts of the bank for that informa tion. I have none at all. I find on the same days, namely, on the 20th and 21st Nov., cheques are drawn in favour of Mr. James, which are signed by R. Hartley Kennedy, Edward Esdaile, and Hugh Innis Cameron. Ara those two cheques signed by you, Mr. Alderman Kennedy, and Mr. Cameron ?—They are certainly signed by myself. I believe also by Mr. Ken nedy ; and that is Mr. Cameron's signature. Can you tell me for what purpose thesa two cheques were drawn ?—I cannot. 1 have no recollection of the cir- cumstance. Rave yonany means of gaining information on that sub ject ?—Not th at I know of, except with reference to the accoun tbooks of t he bank at that tune. Who is Mr. James, in whose favour those cheques wert drawn do not at all remember. I cannot bring the circumstance to my reoollection at all. Do you know whether any loan had been obtained by the directors of the Royal British Bank for the purpose of J Bank of EtHand making it appear that the account iu th was larger than it actually was ?—Not to my recollection. It is a matter of cousiaerable importance, and about w hich one would think pur memory would enable you to answer with certainty. I ask you again, are you not aware that the directors of the Royal Bri i h Bank borrowed money for the purpose of paying it to the clelit of their account with the Bank of England, in order to swell up the amount standing to their credit at the time they com menced n ?—Speaking f ro m my recullect ion at this cannot say that I do recollect the circumstance, „ - -r- - ?~ ~,..- 4... 7..., . • ASV ,c, ,- • • , 4 tii i j ..A4 .r . .F,11.:,. ~ 4 HIII i" - ----- 1 44. ji ' 1 . 3 ::: i, i t :,,,,, ,, ~, .0... .:, ,: ::. ; 5 - It .....„e6. , fi, • , Tirl oo r .., rz 0 ( T. ~ s ..,,,, , „._ ~. •:::- . 1 ,.. 1 . - , . . , ,•A ''''''... • 4 . ".":' . 4.''''''' * -1 .' ,o, '1 ' t:ji .....,,Y;1, • 1 f , '..,.- . 4 ,' 81 ,4 ''' "'" Dr 1 Ir' vlis ~„ 2 ' , - 1/4k ,,, ~ko i Al ,, --- ; , - : o. .g.,.,.. 1 .. 1„,, ... , ----\ .' Itit _.—. ....- 1, 1 ,% , \ -.,---- r- ----.-- -- M_-,-(9,, --- [PRICE 4 1 ). STAMPED 5 Do you find that the acceptations or notes of 11r. M•Leocl, Mr. Owen, Mr. Humphrey Brawn, and Mr. Hurlston were from time to time passed to the account of Mr. Cameron ? —lt appears they were. Mr. Venninsr—Will you ask the witness what his object in borrowing the 5001. was? It will be but fair to the wit ness that it should appear. Mr. Link later— I shall be most happy to attend to any suggestion that comes from you on the part of Mr. Esdaile, and I am sure the court will let Mr. Esdaile explain any thing he likes upon the subject. I shall be glad to have any explanation he chooses to give of the object he had in view in entering into that transaction. The witness—lt was resolved that -the directors of the Iday should double the qualification at the bank. It did not Bait me at the time to devote 500/. from my own resources to the bank ; an I I said to Mr. Cameron, " Would it be convenient to you to lend me that upon my promissory note ,for the time ? " and he said certainly, and then it was merely a question of interest between us. The application of the 5001. was to take up my ten new shares. Mr. Venning—To double your stake in the bank in fact. The witness—That is the history of the transaction. Mr. Li uklater—Did you apply that 509/. for the payment of 5001. por share upon ten new shares to be allotted to you in the bank ? 311. - Venn ing—l think you will wrree with me that it is not fair that it, should come out. Mr. Linklater—l am not now dealing with the effect. I am now dealing with the fact. Independ.nly of being indebted in upwards of 15,0001. upon his discount account, did you find, in the month of February, that Mr. Cameron was also indebted upon his drawing account in upwards of 2,0001 ?—lf that is the figure representing the date, yes. You had better look.—Yes. Up wards of 2,000/. ?—Yes. I bud I have Lean rather misleading you and myself by referring to February, 1836, instead of. February, 1-55, as to the amount of the overdrawn account. The drawing account of February, 1855, was under 1,000/., and nut, as I stated, upwards of 2,000/. ?—Yes. I find that Mr. Cameron, upon his drawing account, was in lebted to the bank, in the early part of February, 1855, in ab tut 8001. ?—More than that. He was very heavy in credit. I am showing you, notwithstanding, Mr. Cameron was indebted upon his drawing account, in the early part of February, 1855, to the'batik in about 8 ,0/., and upon his discount account to the amount of 15,0,0/. ; does this book correctly represent that although you were governor from February, 18,'5, down to and after June, 1856, you allowed Mr. Cameron to overdraw his account to the amount of 3,957/. ?—I dare say it does. Does it?—From these figures it appears so. And, although you find in the early part of February, 1855, he was indebted to the bank on his discount account to be increased so as to leave him indebted to the bank, at the end of the year 1855, 19,146/. ?—I dare say that must have appeared after he came back and resumed his func tions as manager in May. He came back in May. Will you allow me, it you please, to look at that account? [The account was then handed to the witness.] The Commissioner—Was that all solely upon his own personal credit?—l had no knowledge of what was going on as to the account .after that time. After he resumed his office, in May, I had no further occasion to check that account beyond a certain amount. Did you, as governor, or did the Conrtof Directors take any steps, from the month of Feb. ' 1835, down to the time of the closing of the bank, to double the reduction of Cameron's account ?—Repeatedly. The Commissioner—l want to know whether thatl9,ooo/. and odd was advanced upon Cameron's personal security ? Mr. Linklater—Yes. Witness—The transaction came over again repeatedly. Mr. Linklater—But still the balance remains now. Tell us who is liable for any portion of that 19,1461. except Mr. Cameron, and what securities do the bank hold, if any, against the 19,1461,?—Mr. Cameron is certainly solely ob lhant for that amount. Will you tell me what securities, if any, you obtained from Mr. Caruer,n for the bank, as against any portion of that account?—At that time you must. remember the bank held shares of Cameron in the bank itself, which before the Miura of the bank were looked upon as good —as so much Gocurity, but to what extent I do not iquite know, without knowing what number of shares the bank held of Mr. Cameron, which must have amounted to some large amount. They were of large amount. There was a policy of assurance. Mr. Linklater—Were you not aware that by the law the bank had no right whatever to advance one shilling on the security of its own shares?—lt was not done so. The ad vances wore not made upon that seen city, but inasmuch as Mr. Cameron held the shares, of course the bank was per fectly right in insisting upon having them paid over tothem. Is that bow you run a coach and four through an act of Parliament? The money was advanced without any secu rity at all?—Without my cognisance or of the directors. With every means of cognisance, if it was not with your actual cognisanee?—That is where the Inches have been, no doubt. I admit that. Mr. Linklator— Were you aware that one of the stipula tions of the deed of settlement was for preventing the cork pany from purchasing any shares, or making advances of money or securities for money, to any person on security of shares or share in the partnership business ?—Yes. Notwithstanding that, were you a consenting party to receiving his securityin respect of Cameron'saccount shares standing in the name of theconipany ?—No, not as security for any distinct advance. I did not ask you that—Finding the share's, we held them in property. Finding the shares, you held them in property 7—Of 41011T80. Then if amongst the documents found in the vaults cf the hank there appears this : "Hugh Innes Cameron, Esq., 19 Royal British Bank shares, deposited by Thos. Chand ler, for a loan of 8501., 11th Feb., 1854," it would not be correct to say that a loan of 8 ;01. had been made upon such shares ?—There is an instance in which Mr. Cameron seems to have advanced upon shares. You were talking just now of his own advances. I have something to ask you presently. The Commissioner—When you say Mr. Cameron knew, you mein the bank, I suppose ? —No, I don't ; I mean Mr. Cameron acting for the bank. Mr. Cameron acting for the bank is the bank. What ,I mean is, was it not your loan with Mr. Cameron ?—lt was not with the cognisance of the court. Just refer to this account of Thomas Chandler. Do you find that the bank discounted for Thomas Chandler on 1 lth Feb., 1854, Mr. Hugh lopes Cameron's promissory note for 8501.7 It appears to be so, but I was not aware of it. Do you find by the memorandum in this bundle contain ing shares of the bank that for securing the repayment of that 8501. Thomas Chandler deposited 19 shares in the Royal British Bank 7—Yes ; it appears that was a trans action between Chandler and Cameron. Then I suppose you are now aware that was an exceed. ingly irregular transaction according to the charter of the bank 7—Yes, according to the charter. Was Thomas Chandler one of the auditors of the bank ? —He was. When did you first learn—if you ever did learn, before this moment that Mr. Chandler had obtained from'thebank a loan of 8501. for the shares of the bank ?—I suppose the knowledge must have come to me about the time I looked through this book. In February, 18557—1 suppose so. Did you get the money from Mr. Chandler?—No, I think Mr. Linklater, these shares must be looked upon simply as a collateral security. The promissory note to Chandler was a simple matter of discount. That is one way of getting out of the requirements of the charter. Perhaps you will refer again to the account of Cameron, the discount account of the 3d August, 1654. The Commissioner could there be a discount without any other name? Mr. Linklater—lt would be a promissory note payable to Mr. Cameron, endorsed by Mr. Chandler to the bank. That I suppose would be the transaction 7—Let me look again at Mr. Chandler's account. I do not see now Mr. Cameron's promissory note. Mr. Chandler held the pro missory note, which was discounted upon the faith, I presume, of Mr. Cameron. We believed him to be a man possessed of freehold property to some extent. So that it would appear that Mr. Chandler, the auditor, being indebted to Mr. Cameron, the manager, gave Mr. Cameron, the manager, a promissory note for 8501., which would necessarily be dealt with by Mr. Cameron, the mana ger, and that would be discounted by the bank, and debited to Mr. Chandler, who deposited his security for shares in the bank ; that is the transaction 2—No, I presume not ; you are rather mystifying it. Mr. Chandler required 8504 ; he comes to Mr. Cameron as the actuary of the bank, and says "Will you a lvance me that money upon my promissory note. I can put into your bands as collateral securityshares which I hold in this•corporation." But - the bank were restricted by the terms of their LONDON, THURSDAY EVENING, _MARCH 12, 1857. Is that the only answer you give to that question?--That is my answer. rectors before the end of the year 1853 ? presume so, it must have transpired soon after his decease. Were you present at the meeting of directors on the 13th December, 1853 ?—Yes. And were you one of those who voted in favour of the resolution that the court was desirous to record their re gard for the memory of Mr. Mullens, and their lively re collection of his social and many amiable qualities ?—So perfectly were we impressed with the integrity of his cha racter up to that time. Lo you remember a claim being made by a Mrs. Goodrich to some title-deeds which had been lodged with the bank by Mr. Mullens as security for an advance to himself?—Yes. The bank afterwards gave up the deeds to Mrs. Goodrich without, a payment of any sum whatever ?—I am not quite sure as to the fact. Refer, if you please, to the minute of the meeting of the directors of 18th April, 1854.—That there was a point in dispute about these securities I am perfectly well aware. Were you present at the meeting on the 13th April, 1851? —No ; it appears not by the record. Were you aware of the minute of the resolution passed by the directors at that meeting on the 18th April, 1831? The Commissioner—Perhaps it was at a aublequeut meeting. Mr. Linklater—lt does not appear that Mr. Esdaile was present for two or three meetings after that. The Witness—l do not see the particulars. You will find it there [pointing to a book] —Do you find on that day a resolution to the effect that the committee reported to the court that they cou!d not finl any evidence that Mrs. Goodrich had given Mr. Mullane an authority to deposit the deeds, and they we re accordingly directed to be given up to her ?—Yes ; I have 'no doubt that is correct. Mr. Cameron was the general manager of the bank at the time ?--Yes. Can you pledge your word that no such loans were ob- tained ?—I should t hink not, from the imperfect recollec tion of the circumstance of that day , . I should not like to pledge myself to any statement that was not coincident exactly with my recollection. If it had been so I should have no motive in concealing it, Mr. Linklater—at least I should give you my straightforward impression. Do you believe it t 3 be true that loans were obtained on behalf of the directors, for the purpose to which I have alluded ?---I do not recollect the circumstance. Do you believe it to be true ? -I cannot give an answer satisfactory to myself to that question. Again I must ask you, do you believe it to be true ? Pray attend to the question—do you believe it to be true ? Ido not wish to attribute your hesitation to any unwillingness to answer.—Not at all ; I am only considering what an swer I can give truthfully. I must have an anvver to that question.- -I have no re collection of the fact. That is no answer. The Commissioner— What is your belief upon the sub ject. If you have no belief one way or the other, of course you will say so.---To be very candid with you I have no be. lief upon the subject. My mind is a blank upon the subject entirely. I have no belief. Having your attention drawn to the circumstance of the _ _ two cheques which you say you signed ?—Most have signed those cheques. The Commissioner—Does that bring it to your recollec tion ?—No, it does not. Does it bring it to your recollection as being connected with the bank ?—I do not know whether any of my bro ther directsrs are present, but it does not occur to my own recollection. If it did, I would say so without scruple and without hesitation. We have heard of what has been called small privat. led , ers?---Irea. This large green volume, is this the ledger ?---That is the pocket ledger. That is called the pocket ledger 7—Yes. Had you access from time to time to that book !—I never opened it until after I a3sumed the chair. But did you when you becaine governor, in February, 1855 ?—Yes. Mr. Linklater—Let us have no mistake as to your mean ing. What I ask you is this. Do you or do you not be lieve that the directors borrowed money before the opening of the bank for the purpose of having it placed to the credit, and draw out that money immediately afterwards ?—I have no belief founded upon a recollection of the fact. I thought we were likely to have some mistake upon your former answer. I therefore must repeat it. With or without a recollection of the fact, do you believe that such a loa,u was obtained ? Had you not prior to that time seen this green book ?—I do not think it had ever come under my hands. Perhaps I should hardly say that. I cottid hardly have been in Mr. Cameron's private room without having seen it upon his table, but 1 never investigated its contents. Was it a book which was accessible to any director who chose to look at it, in Mr. Cameron's room or elsewhere? — It might have been accessible, but it was not the practice of the directors to refer to it. The Commissioner—lf you recollect the fact you could state it. If not you are asked whether there is anything which enables you to have a belief upon the subject one way or the other. Your mind may preponderate one way so as to induce a belief that it was so, or it may prepon derate the other way so as to induce a belief that it was not so, or it may be a perfect blank—total ignorance and no belief at all. But it can hardly be suppo.ed you can not have a belief one way or the other. You are asked as to the fact of what is your belief. Mr. Linklater—lt is by no means an unimportant ques tion. I suppose you have heard it stated as a fact that such loans were obtained ?—No ; I have not. I will ask you again. Do you believe that there were such loans? —I can give you no further answer than I have. Have you any doubt that you have seen it from time to time in Mr. Cameron's room !---No. I can hardly have much ~oubt about that, I think. Mr. Linklater (to the Commissioner)—Sir, Mr. Noyes is attending from the Privy Council -office with some of the original papers. We shall have to go back for one moment. A. certificate is produced, dated Nov. 16, 1849, addressed from the Royal British Bank, Tokenh ouse -y ar d, Lothbury, Lindon, to the Right Hon. the President of the Commit tee of her Majesty's Privy Council for Trade and Planta tions. Mr. Linklater to witness—ls that certificate signed by yourself ?—Yes. By Mr. M`Gregor, the governor ?—Yes. By Mr. Owen, Mr. Alderman Kennedy, deputy governor; by William Daniel Owen, a director; Charles William, a director ; James Gwynn, a director ; yourself ; Ur. Kertz, a director ; and Mr. Apsley, a director ?—Yes. Is not the represen'ation in that certificate untrue, that one-half the amount of each share had been paid up in re spect of each such share!—lt is not untrue according to our mode of viewing the fulfilment of the spirit of the act. But in fact it is incorrect?—A s far as the i - ,0,000/. is not in sovereigns or bank notes, incorrect. The Commissioner—With respect to the first, the petition states, amongst other things, the amount of capital stock then paid up. That is stated to be 50,000/., but it also was required by the act to say where and how that money was invested. Mr. Vanning —Would it not be better to ask the wit ness whether he was an actor in the transaction ? It is one thing to sign a cheque together with two brother directors, and it is another thing to be an actor alone in the matter. The Commissioner—He is asked as to his belief. If he has no belief at all upon it, let him say so.—That is my answer. Mr. Yenning—With great submission the witness has stated that frequently. It appears to me tho pressure has been rather extreme upon that point.—l say again that my mind is in a blank state with regard to my belief al to that matter of fact. Mr. Linklater—We will take your answer as such. I observe it is stated in the account to which you have re ferred, and which we will mark A, that there were 86 shares allotted to Mr. Cameron, upon which the first aad second instalment would be 4,3001.—1 dare say there were. Did the directors receive from Mr. Cameron his promis sory note for that amount ?—I have no doubt they did. Did Mr. Cameron ever pay one farthing of those shares ? —ln money ? Did he ever pay one farthing of those shares?—l cannot say that he did, but we held him strictly responsible, be lieving that ho was able to assume the responsibility of them. Mr. Cameron was then looked upon as a man of means, quite equal to that obligation. There was Mr. Cameron's promissory note for 4,300/., a portion of what the directors represented as the paid-up capital ?—I presume it was so. It states the fact here, and I have no doubt that is correct. Mr. Esdaile—l must refer you to the minute-book of the court of directors on the 21st of August, 1849?—1t is the 24th. There is no 21st. There is the 17th and 24th. Mr. Linklater—l am reminded, s i r , by M r . Noyes, kindly, that there is a certificate upon the order, referring it to the law officer of the Crown to consider the prayer of the petition. The certificate is to this effect :—" Report that the provision of the act for the regulation of joint stock banks appears to have been complied with, and that my lords are of opinion that a charter may be granted. Done the 23d of J lily, 1849." That accords with the re presentation that I made to the court. The Commissioner—Yes. Do me the favour to refer to the entry in the minute book of the 13th July, 1849.—This is in 1849, I presume. There is no year to this. Mr. Linklater—l believe that the directors had many promises from persons resident in and near Newcastle to take shares in the Royal British Bank ?—Yes, I believe they had. And that deposits were paid to some considerable amount from persons resident there ?—Yes, I believe so. Do you remember that Mr. Alderman Kennedy and Mr. Cameron have themselves canvassed Newcastle for the pur pose of getting shares?—l am aware that Mr. Alderman Kennedy visited Newcastle with that view. Were you present at the court of directors on the 23d of October, 1849 ?—Yes. Is it correct that on that day it was resolved that Mr. Mullens be instructed to go to Newcastle for the purpose of completing a..negotiation with the subscribers ther e wh o had not paid their iostalinentstor the transfer of their re spective shares, and that a cheque be drawn and placed in the hands of Mr. Mullens for 201., to be returned, if neces sary, to the subscribers on their completing the transfer of such shares?—No doubt that resolution was passed. Then were you present at the meeting of the court of directors on the 29th of October, 1819 ?—I have no doubt of it, if my name is there. You have no doubt you were ?—I have no doubt of it. Is it correct, then, that Mr. Mullein reported at that meeting the result of his personal application to the sub scribers at Newcastle who had not paid up their instal ments, and it. appeared that 64 of those parties had trans ferred their shares to the general manager, in receipt from the bank o f th e i r respective deposits • and 127 of the sub scribers were lik e l y to retain t h e i r ;hares, some of them having already pz.l I their instalments to Mr. Mulleus, and others of them having promised either to pay or secure the came ?—I cannot dispute the correctness of that. Then were the shares held by those 64 persons trans faired into the name of Mr. Cameron, the general ma nager ?—That I cannot say front recollection. I should have said 64 shares, a nd not 61 persons. Do you find by the reg i s t er o f transfers that on the 26th of Oct., 1849, there were 49 shares transferred by several persons at Newcastle into the name of Cameron ?—I have no doubt of the fact. Do you fiiid it there stated that Mr. Mullens reported to the boari that the number of signatures to the deed of constitution represented 501 shares, a number sufficient to entitle the bank to make the requisite application to her Majesty in Council for a charter of incorporation ?—I find that to be so stated. In those 501 shares are the 86 shares which had been allotted to Cameron included ?—That I cannot say. This gives no information. Were you present at the meeting on the 13th July, 1849 ?—Yes. Were you present when the representation to her Majesty in Council vas laid on the table, engrossed and signed by Mr. M`Gregor, Mr. K enne dy, Mr. Cameron, Mr. Gwynn°, Mr. Hertz, Mr. Owen, and Mr. Apsley Pellatt ?—No, I should say I was not, or myname would have been included. I must have been absent from the room at that time. Icannot say so , but it is natur a l t o i n f er th a t, or w h y s h ou ld my name be left out? Were you present at the meeting on the 20th of July when the minutes of the meeting of the 13th of July 849, were read and confirmed ?—I have no doubt of it. My name is here reported. Before the 19th of Nov. had the directors of the bank made a loan to Sir J. M`lienzie of 7,sool.?—They did, to the best of my recollection. I cannot speak to the date, but my impression is that they did. Will you refer to the minute of the 29th of Oct., 1849, made at the meeting of directorson that day, and say whe ther you were present at that meeting when the loan was anihoi ised ?—I was present at that meeting. You say you were present at that meeting ?---Yes. Can you tell me bow much bad been expended in preli lireinary expenses before the 19th of Nov. 1819 ?—I have not got that in my recollection. It is stated here as 9,5231. and as it is tho result of Mr. Coleman's figures, I presume it is correct. Pas any portion of that amount of 9,5231. lls. 10,1. di vided amongst the directors ?—A sum for their services for the year 1849 was divided amongst them, but really I can not say wh e th er it was included in the 9,5231.' I must now ask you distinctly was not a sum of 1,0001., which was represented as having been paid for preliminary expeases, divided amongst some of the directors ?—I be lieve a sum about that amount was divided amongst the di rectors, but whether they included it in that 9,5231. I do not know. And the deposits paid upon those shares were returned to the persons to whom they were originally allotted—l sup so—l believe so. . _ Were you present at the meeting of the court of direc tors of the 2 ith of August, 1849?—Yea. Do you find that by aresolution of the court on that day it was resol ve d th a t a c h eque b e drawn on the Bank of England for 6101. i n order to pay John Flem m i n o., 50/. • Wm. R. Warwick, 20/. ; Wm. D. the following sums:— tn raely, Jame s Di xon, 4001.; A rc hibald W. Blane, 100/. ; Hay, 40/. ; t o tal Glut. the above being the deposits which have been r eso l ve d to bo returned to the depositors who have refus e d t o s i gn the deed of const it u ti on ?—Th a t i s th e fact. I must a d m i t i t. And that money was returned accordingly ? — I believe it was. I had r eason to suppose ot h erw i se — our e ff or t s t o strengthen the p re li minary format i on o f t h e bank through Newcastle havi ng f a i led. Mr. Linklater (to the commissioner)—ln reference to the act of Parliament, your Honour will find—it beinc , important th e o bj ect of my question should ba understood, ° by the 7th and Bth Victoria, chap. 113, section 5, your honour will find it is distinctly stated that it shall not be lawful for companies to repay any part of the sums so paid up without leave of the lords of the committee. The Corn in ssioner—Yes. Mr.. Linklater—To return again to this green pocket ledger. Mr. Venning—l think it is very important that that part of the answer should appear. It was a mere substi tution, as I understood the witness to state, of the shares from parties who would not pay up, and to others who did let that appear. The Commissioner—lt may appear upon a further ques tion, but at present I have only got it that it was trans ferred to Cameron. Have you any means of ascertainine , whether the 1,0007. so divide,l was included or no t ?—The books must show that. Tien before your next examination you will be able to ascertain that fact?--I have no doubt I can. Does your memory enable you to say whether that sum of 10001. was divided among the directors for their services in 1849?-4 presume not long before the bank commenced operations a year must have expired before the division was made. Tou presume not long befoie the bank commenced ?—I should think not. But does your memory enable yon to say it was that 1,0001. ?--This book will give us the fact of the date of the Perhaps you will be kind enough to find it ?—I am not contesting the fact of the division, Mr. Linklater. I quite admit the division was amongst us, if that is what you aro aiming at. I am aiming at nothing beyond eliciting the truth, and I am not here contesting with you or any one. I am only desirous of ascertaining the fact whether or not before the bank commenced business a sum of 1,0001. was divided by the directors amongst themselves for theirservices prior to that time ?—That a sum was divided of about that amount I have fully in my recollection, but whether it wasin Octo ber, November, or in the month subsequent to the opening of the bank, I do not know ; or whether it was included in that amount for preliminary expenses, Ido not know. It might be. . . Mr. Venning—And from him afterwards to other per sons who became the owners. Mr. Linklater—Perhaps I had better state what the facts are; and if Mr. Esdaile has any explanation to give upon it he will he kind enough to correct me if I am wrong. Several shareholders at Newcastle having refused to pay the calls made upon their shares, although they have al ready paid the 10/. deposit, the company, or rather the court of directors, resolved that those shareholders should receive back their deposits from the company, and it then became necessary that the transfer should be executed to their own nominee, and Mr. Cameron's name was used for that purpose. Afterwards the company were successful in finding purchasers for some of those shares, and from time to time as purchasers were found, those shares were trans ferred to whoever was unlucky enough to take them. The Witness—May I be allowed to make an observa tion ? Yon are not exactly conveying the whole truth with regard to our communication with Newcastle. It was an understanding there that if a considerable capital could be obtained from Newcastle, that the Newcastle shareholders should be considered to be part and parcel of the corpora. tion of the bank. If we failed in making a great impres sion upon Newcastle, such as had come into the negotia tion should not be damnified by any payment which they had made. It might have been strictly illegal, but it was fair in spirit I think. Mr. Linklater—ls there any explanation you desire to give in reference to those shares ?—No. I think you have told me that your attention was first called to the contents of that green ledger in the month of February, 1855 ?—Yes. the Commissioner—Does it not appear in the minute hook ? ➢ir. Linklater—No. lam entitled to an answer to my question. 9,523/. lie. 10d. is said to have been expended in preliminary expenses, and the suggestion is that 1,000/. of that was in truth not a preliminary expense, but was a sum which the directors took for themselves without letting it appear in the books at all, and that they divided it among themselves.— If that was done it was done by a resolution of the board. How much of that 1,0001. did you receive?—What my proportion was Ido not know. We paid a much larger proportion to our governor of the clay, Mr. M`Gregor, but whether my proportion was 1001., 1201., or 1501., I do not know. Have you no recollection about the amount ?—No ; I have not indeed. To the best of my recollection a larger sum was appropriated to the governor for his expenditure, his time, and other considerations, and the balance was divided in equal proportions amongst the men who had worked through the year of the establishing of the bank. I think, it you refer to the minute of the 19th of October, 1849, you will find that a sum of 5001. was awarded to the governor and Mr. M`Gregor as a remuneration, though an inadequate one, it is said, for his important services in the formation of the bank, and that a sum of GOO/. was also awarded out of the fund of the hank to the rest of the directors in the proportion of their respective attendance as a remuneration for their services in the formation of the bank ?—Without reference to the books, I have no doubt that it is correct. You have no doubt that it is correct ?—Not at all. You were present at that meeting on the 19th of Nov., 1841 ?—"Yes. Were lon the governor of the bank at that time?—After the yearly meeting. After the yearly meeting held in what month? —February. It would be convenient for unto know on what day of the month that meeting was held.—The first Friday, what ever that day ic. The reports will show. We will put in the date presently. Was Mr. Cameron ill at the time of that meeting ?—I think he was not present at the meetin,,_,. The Commissioner—That is the sum you spoke of ? Mr. Linklator—l presume that would be it, 1,1001. I thought it had been 1,0001. The petition for the original charter I think was pre sented in June, 1849 dare say it was, or about that tim e. You have told me that the bank commenced business on the 19th Nov. in that year ?—That is the date, I believe. The capital consisted of 1,000 shares, of 100/. each?—Yes. Upon which 50,0 )0/. had been paid ?—Paid, or repre sented as paid. Paid, or represented as paid to the bank, as you have already stated ?—Yes. Mr. Mullen, I think, was one of the solicitors to the bank ?—Yes. And he died in 1853?—Yes. lie was absent from the bank for some time?—No, he was not permanently absent from the bank until, I think, after the meeting; ho was not at the meeting. And for some months afterwards he was detained by very serious illness. lie was not at the general meeting at which you were appointed govetn)r, and he did not come to the bank for a considerable time afterwards? —I was not appointed governor at the meeting, it was not necessary. I was appointed go vernor by the court. After you were appointed governor, I think your attend ance was more frequent than it had been previously? Mr. Paddison—lt was the lat of Felruary, IS5'. Mr. Yenning—Only convening a meeting. Mr. Paddison—lt was in February, and the minutes of t l h ne e metr 3 i.n l o o f f sh J a a r n eh u o a i r , y ie t r a s y t - - o.l lT r l r i o e w eo; sc rt c. l:a t v h i a n:r is b t e h e e n 3lst. sum moned to reconsider the resolution passed on Tuesday last, respecting the directors to retire in rotation at the annual L sat i r ,ki a t e r—You find now you were appointed go. vernor on the let of February, 18557 —yes. I think for many months after your appointment you were, say, unremittin g i n y our attendance at the bankere I may ?—I was there very considerably. load yoR 990.401011 to refer t 9 the fiereoil accounts contained In what amount wal Mr. Mullen indebted to the bank at the time of his death !—I cannot say. The book will de clare that. About ?—Some thousands, upon which certain securities of policies were held of his. Can you toll me what is tho total amount of the loss by the bank through ➢lr. Mullens ?—I dare say it was about 5,0,;0/. or 10,00 a/. 13,0001. was it not?--I do not know. I cannot say. At all events, whatever the loss was, it was known to the directors before the end of the year 1853 ? Not known before his death. Not knOwu before hi 4 death, but was know n t 9 th e di• in that green ledger?—Very shortly after my appointmen as governor, Had you occasion to refer to the accounts in the green ledger ?—Yes. When you say very shortly, do you mean almost immedi ately after wardsl—Almost immediately afterwards. A few days?—May I explain If you please.-=-Very shortly after I came to the chair it occurred to my knowledge that advances had been made, unknown to myself, upon a class of securities which had not been hitherto r,ported as proper securities for the bank —namely, shipping securities, which led me to investi,-,a'e the accounts of certain debtors to the bank, and I was de termined that no accounts should exist which wore not un der my rigid control, and that led me to en investigation of the accounts. And that led to an investigation of the accounts through out the entire book ?—Of this house ledger. Can you give me the name of tlis person to whose ac count your attention was first directed ?—I have no objec tion. It was Mr. Humphrey Brown. And it was in consequence of information that you ob tained with reference to that account which led you to examine the contents of that green I..dger ? --In conse quence of certain facts having transpired which necessarily came before me as governor. Did you find on looking at that green ledger that several of the directors had accounts opened in the books of the bank ? Yes. Give me the names of the directors, if you please, with whom you found accounts had been opened.--Mr. M'Gre gor, Mr. Gwynn. Mr. Cameron, myself, Mr. H. Brown, and Mr. Coppins. I believe there are no others. Mr. Walton ?—Yes, Mr. G. Walton. He Was a director at that time ? Did you refer to the minutes of the finance committee for -the peepole of - seeing whether th Vlnetints had been ()pitied by their authority ?—No ; I did not think is neces sary to do so. Was it not one of the regulations of the bank that no ac count should be opened except under the precise sanction of the finance committee ?—That was a rule of the bank that no bills shoul I be discounted except by their sanction. Doyou happen to know it as a faet ?—I do not know that that rule was strictly observed; upon theopening and drawing and discount accounts of the directors themselves it would not probably have gone through that same routine; for in stance, some of the directors' accounts were always largely in credit, and others had a perfectly legitimate discount ac commodation : there is Mr. Charles 'Walton, for instance, by whom in fact we have lost nothing. Out of the 16 men who were connected with that direction I believe three or four at, the outside are now obligants. Did you find Mr. Cameron was at that time largely in debted to the bank?—Then I found it for the first time. Did you find then that he owed to the bank upwards of 15,0001. upon his discount account ?—Yes, I remember the sum. Will you tell me what is the meanin of this entry— "To the credit of the account of Hugh Innes Cameron, Edward Esdaile, May 6, 500/.," under the head of "dis count?"—A sum of money I took from him upon my own note and retired at maturity; that i the sum of 5001. I do not quite understand that ; does nott this entry re present a discount by the bank on May 6 for a bill ac cepted by you for 5001. ?—Yes. Does not that entry represent that on Feb. 6 the bank discounted of Mr. Cameron a bill for 503/. ?—Which he had advanced to me. Pray attend to the question. A bill for 500/. duo May 6, and drawn by him and accepted by you ?—Yes ; it was upon his promissory note. It was no acceptance of mine. It was a promissory note of yours in favour of Mr. Ca meron ? Yes. And though Mr. Cameron was indebted to the bank at that time in 15,0001., you, as governor, allowed your pro missory note drawn in his favour to be discounted by the bank for 5007. ?—No, it is not the fact. It is the same transaction which commenced on August 16; but instead, as was sometimes the case, of making the obligation a six months' obligation, it was the rule of one accountant, why, I know not, to make it, assumetho form of a renewal every two months, which carries it forward therefore to the time that I retired the whole note with interest. It is a continu ation of an original transaction, which began on August 16, 1851. I will begin at the beginning and follow it to the end. Did you, on the 16th of August, owe Mr. Cameron any money ?—He advanced me 501. upon my note. I had never a drawing account with the bank. That will explain it. Did Mr. Cameron lend you 590/. before you gave him your promissory note ?—No, not before. Did you apply to Mr. Cameron in the month of August, 1854, for the loan of 5001. ?—Yes. Mr. Cameron consented, as I understand yon, to make the loan?—Yes. For that amount, yon gave him a promissory note payable in his favour ?—Yes. And that note was discounted with the Royal British Bank ?--Yes. That promissory note was placed to the credit of his dis count account, and you received the money by a cheque drawn ty him upon the bank ?—I presume so. At that time I find by this discount account that he owed the bank upwards of 15,0001.—1 t appeals to be so. Of the account at that time I know nothing. Did you know that Mr. Cameron was going to get that 5001. from the moneys of the bank ?—Most clearly it was a discount. I never had an account with the bank. Did you not consider it worth your w bile to inquire what was the state of Cameron's account at that time?—No. Did you know that he had a discount account with the bank ?—I must have presumed that ho had, because there were notes paip.ing continually through the bank. I ask you, did you or did you not know that Mr. Cameron had a discount account with the bank ?—I think I may fairly say at that time I did not. Will you undertake to pledge your word that you did not know that Mr. Cameron had a discount account with the bank?—Yes ; I may truthfully say so ; at the sime time he must necessarily have had accounts with the hank, because he was passing large sums of money f, om Scotland and else where. Did you not know he intended to discount that 5001. pro missory note with the bank ?—Yes, I presume that I did. Did yon take any pains to ascertain whether he had ap plied to the finance committee for authority to have the discount ? —No. Ought not application to the finance committee to have been made by a person for discount who had previously no account open ?—lf the thing had been rigorously treated perhaps it ought to have, but that rule never applied to a director's account. Mr. Cameron was no director?—He was our general manager. He seems to have managed you pretty well. I ask whether, according to the regulations of the bank, it would not have been necessary, in the ordinary course of busi ness, for Mr. Cameron, if he had no discount account with the bank, to have applied to the finance committee for liberty to have your promissory note discounted ?—By the rule of the bank it would have been necessary in all ordi nary cases; but as he knew that I, as a director of the bank, had no obligations of any kind with the bank, he presumed, for a transaction of that trivial nature, it was not necessary. That is the only interpretation that I can give of it—nor was it necessary in fact. The Commissioner—lt was not advanced to you by the bank, but through Mr. Cameron, as agent?—Because I had no account at the bank of any kind ; I did not even have a drawing account at the bank, much less a discount account. The Commissioner—l mean the bank did not trust to you ; they trusted Cameron ?—Yes ; therefore it was a private transaction between himself and me—a purely private transaction. Mr. Linklater—You knew that Cameron had got that note discounted by the bank ?—I did not know it, but I presume that he did ; I have no objection to Eay that. Did you communicate to any of your fellow-directors that that transaction had taken place between you ?—I do not know that I did at the time, but they knew it after wards. How soon after the 16th August did any of your fellow directors know that you had obtained that Mg. of Cameron ?—Not, probably, until I was examining the ac count with them. In the month of February, 1855 ?—Probably. That promissory note of 5001. became due on November 6th ?—And then it was renewed. Was it paid by yon at maturity ?—No, because it was a current note; it was a note on demand, I believe. That is not so. Did not that note for 500/. become due on the 6th November !—The accountant through whom the transaction went chose to revoke the advance in this form as a renewable obligation until it was paid. I took it up originally. It was a six months' transaction. Do I understand you to represent that that promissory note was payable on demand ?—My impression was that it was so. And the entry in the book that it was so became duo on rte as - November 6th is incorrect ?--That is from Mr. Crawford's char from alvancing money to any person upon the de. posit of their sheres, Mr. Cameron was the man who ad treatment. vanced his money and deposited the shares upon Mr. And slid not appear upon the face of the note ?—I think • • Chandler's promissory note, and got that discounted with not. You will find it so ; the same obligation, You are that is how he seems to have managed it. Did you on November 7th, or November 6th, give to Mr. examining me upon questions which are _purely of Cameron a promissory note for 5001. ?—No ; I knew no- • • an executive character which would not necessarily come thing about it until I found my cheque for 500/. bef re me as a director. Yoa gave him no such promissory uott , ?—No, not again. Then this cheque incorrectly represents the transaction 1 ... a a a m a qn . ite , aware that details would not come before when it says that on November 7th the bank - (iiscouuted for Yes, it u nfo r tu n ately'h Ty. dir e ci. . orbut the general result would though.— Mr. Cameron your promissory note, which b ecame due on Feb. 6th, for 5001?-1 should say that it (lid, if you will allow me to say at the time I passed my cheq ue in I said to ~....e. Cameron_ An N :n w st% 1854, refem do ng th ou M fi r n . d C a l l n s l o Pm th n a 9 t B Brown do you mean s t a h c e c account o discount the 3d for of Mr. Crawford, ' What is your object in ins king all these ...r, ormc T ro y r Mr. Br renewals in this way when it is one obligation. 2" Turning up Y ,000 L. I—lt appea so." Brown's promissory n Mr. Cameron in o t te lie . f m oi r l th of July, 1854. Mr. Humphrey this account I observed the same transaction appeared to be that Mr. Humphreyßrownlodged And does it also appear repeated over and over again, and I said to our accountant, " What was the object of treating it in that w ay, when it Bank as securities for the 1,000/. T—lt says with Mr. Cameron shares belonging to Mr. Humphrey Brown in the Royal British . is a simple obligation upon a promissory n , )tt ) I'' and he seen that thi depositsi n th e a aii as e s aari book. ty said, " Oh, that is our custom." Is it the so here ; bu fi t rs it t is ti te e t fi h rs e t e r st e e Do I understand you to say that in the nu 'nth of Aug., I c to.' I not. I must have I nc h e av o e f 1854, Mr. Cameron promised to lend you f, w six monthsexamination of the account originally. lam the 5001., and that you paid it at the expir. ition of that has become . known to you er m y seen it from my those shares time ?—I will not Bay it was exactly at the ( %Oration ofthe accountof Mr. Seeing that you permitted Seeing now of as security. six months. i ncre ase from the month of February, 1855, to the time wh en When did you pay it ?—I do not know ; it is lumped the bank closed, both in the discount and in the drawing ac together with the 1,5001. in a very foolish w: .y. I have counts, and no security against it, I ask you have youany never paid more than 5001. explanation to give I—No, I have not. In fact I was not aware When did you pay it—on the 28th Februar3 r ?—On the of the increment in the accounts until Mr. Cameron finally 28th February. left the bank. When Mr. Cameron resumed his duties, my Did you pay any interest to Mr. Cameron o n that ad attention was then not so positively directed to this account, inla c o ll ul l d w notas corroboratedbinased. You say it is I,so(X—it is incorrect. It is the Vance ? I presume I did—six per cent. I belie% 13 it was. Presume ! did yby directors, ,you ?—Yes, I paid interest for the note. i na smuch as I laid down he a se rule accounts w should the that t same as You will find, if you look at the othe r s id e i n t h e account, three renewals. that I was instrumental in working down these account s — Then it is three times 5001., but as three times i 100/. are Mr. 'Welton's especially. debited to the account, it became necessary to put the Do I understand figures to the credit of the same account ?—I disp rated it you to represent th a t f rom F e b ruary , with him, the form of the transaction. 1855, down to August, 1856, you did no t once refer to th e state of Mr. Cameron's account iu that ledger I—l do not But you did not pay your 5001. until after it t *came think I did. known to you and your fellow directors that. Mr. Ca neron was so largely indebted to the bank ?—No ; in poi ' rat of Then how often between the month of May, 1855, and fact I did not. July, 185 G, did you refer to Mr. Cameron's account f--How What do you mean, in point of fact? often I cannot say, but very repeatedly, calling his a tten t ti h on e Mr. yenning—lt appears to me that that is ap; ;epee to the state of the account—b o th m y se lf individually aud answer. committee appointed for the purpose. time to time! I mean to say, in point of fact, because I always intt ended Did you not find the account increasing from to take up my note when it became due. It is a mos t un ., —No, decreasing. You will find, then it fair imputation. It is making a great deal of fuse b that the 15,000/. was reduced down to 12,0001., a and A CA it down to 12,000 1 ., nothing. It was a simple transaction. went up to 13,0001., and then it went Mr. Linklater—lt will be for oth . ers to jude o th ,, , so on. _l n may, 1855, it transaction. Is that the first and only trans -A Excuse me. In May he comes back. obligation action y, u h a d t. This was an with Mr. Cameron ?—Yes. was 12,000/ reduced from 15,000 if you look tohaedaceount, Was he in the habit of accommodating other d' 'running at the time which had in the same way ?—I do not know. I Irectors which of course suppose he i raised it to 13,0001. is some expla think there were discount accounts under the nate ton, Humphrey Brown s The books will of court i.. e '' W a l - ~ aa lion with regard to that. , l'efor• the month of May, i w a as ' -1- . Then it was not reduced 1—No; :::: e u n t e t w b eedre, 4 BhOtt . ..". s ..1 suppose you tecanio A (o ~~~ ii 2 ~ ~~-~.~~~- SPI 1853, that The balk nail lost b i , .. Cameron upwarclii" 1 5,0001. ?—That it had advance. - • /lir. Cameron—not lo ' k- I say, lost by Cameron F—No, - 4 , . inly not. Do I und ers t an d you to repro. . \ t h at you h a d reason . - believe, in the month of May, 185 Ain C0.111(TOTI l'ettl* te the bank, that he could pay that m. siywhelialleiion I —No, not when called upon ; but that heliad peAer a r ty to cover the bank for his obligations ; and we believed, to a recent period, that we had it in our hands, from interest that he had in laud and stock in England. We did not know till subsequently that that interest was mortgagedto otherparties. Did you between lisfay,lBss, and Ist Jan., 1856, endeavour without success to get security from Mr. Cameron I—Yes. In the general accounts laid befoie the shareholders "at the general meeting in the month of Feb., 1856, was the amount owing from Mr. Cameron to the bank stated to be a good asset of the bank ?—lt was a good &seat. I take it for granted th a t you knew that fact I—Yes, and I will go further, and say that up to June, 1856, our solicitor was aware that the impression upon our minds was that the loss through Mr. Cameron from the securities which we be lieved he had would be but trivial. We had the policies la our hands, and the bank share, and we knew we had the interest in stock and land, and we likewise believed that he had. I must ask you what securities did the bask hold against that sum of 19,001 ?—There is a list of them somewhere. I cannot now tell them over my fingers. There were four orfive securities of 1,000/., 2,0001. or 3,0001. each. We were told there was a 3,0091. policy which was to be redeemed from the National Bank of Scotland, and some other securities, but it was afterwards discovered that there were credits upon them. In the half-yearly account in June, 1856, was not the debt owing from Mr.-Cameron to the bank also taken as a good. asset ?—I have no doubt it was, Have you any doubt that you knew at the time it was so taken and so treated in the accounts of the bank 7—No, I think not. I think there can bo no doubt about that. Now I will call your attention to the accounts connectol with the Welsh works. The bank has lost, I believe, by the Welsh works, subject to what may be realised from them, something like 120,0001.—1 am afraid so ; subject to what is to be recovered you say. In the accounts for the half year ending the 30th of June, 1856, were not those Welsh works taken as an asset of 120,000/. I—They were taken at what had already been ex pended upon them. Then in the half-yearly account presented by the court of directors, and sent to the shareholders by them for the half. year terminating on that day, asi underst nd you, the Welch works were taken as a good asset for the full amount which they cost the bank, about 120,0r0/3 —I believe they were; We were in strong hopes of raising a company under the Li. mited Liability Act for taking these securities off the bank. Let us see how that is. When did the bank first obtain security over those mines in Wales ?—lt would be as far back, I think, as 1850. Perhaps my solicitor will correct me if I am wrong. Had not the bank, in the early part of 1853, made great efforts, through Mr. Pinniger, their solicitor, to dispose of the mines T—Through Mr. Pinnigor ? No; I think not. Just refer to the minutes, if you please, for the month of March, 1853, do not you remember the fact,-that Mr. Pinni ger had been employed by the directors for the purpose of getting up a public company to take these mines, and that he failed to do so I—Yes, I recollect now what you mean. He did not succeed. I believe he was employed because the bank thought if they employed their own s)licitor, it probably might become known, and be detrimental to their interest. Was that con sidered so?—lt was so. I should think it was a wise conside ration. Now having failed in that, they made arrangements, I be. lieve, with a Mr. Clark to work these mines ?—Yes. I think he remained in possession for some months, and they were then thrown back again upon the hands of the bank —Finding he had not enough of capital he threw them up s upon a thorough conviction of their value. Now, in the year 1854, I believe you instructed Messrs Fuller to sell these mines ?—They had instructions, but whe ther in 1854 I do not know. Now, refer to the minute of the 27th of June, 1854. You find, on the 27th of June, 1854, at the meeting of the court of directors, the court having considered the question as to the amount of the reserved bidding to be put upon the Welsh works at the Auction Mart to-morrow, and as to the amount of the purchase money, which might be left as a security for the property, and having conferred thereon, it was resolved that the reserved bidding on the Park property should be 40,000/„ and the reserved bidding on the works 30,0001., and that half of the purchase-money might, if required, re main on security of the property. At that time the directors, I assume, believed that 40,0001. and 30,0001., making top. ther 70,0001., was all that they would be likely to get fir the mines by sale ?—This is so. There was no bidder, I believe, at teat sale I—No open bidder. I believe the security given to the bank was to a limit of 50,0001. I—l believe it was originally. Can you tell me whether it is or not correct that at that time the bank had advanced upwards of 75,001 n. upon the property ?—No, certainly not ; I should think it is incorrect. Now, tell me, did not Mr. Apsley Pel:att and Mr. Pearce retire from the direction of the bank in consequence of what they considered the irregularity of the transaction with re ference to the funds ?—Not to my knowledge. The grounds of their retirement were quite different. Perhaps you will favour us with those grounds ?—Mr. A. Pellatt had acted as a member of the London Life Assurance Office, to which he gave a good deal of time. Mr. Pearce was actively - engaged at Lloyd's, and they found their engage. meets were incompatible with the duties which the bank de manded. I need scarcely ask you again 'whether in the month of May, 1855, you had not yourself Come to the conclusion that there would be a very large loss about the Welsh mines I—. We were sanguine that we should be successful in forming a company to take them off the hands of the bank upon the principle of deferred payment by issuing to any public body who would be disposed to take the securities. Tell me what means you had taken for the purpose of get ting up any such limited liability company I—We had been in communication with a professional mau, who said he thought he could manage it forus. Give me his name, if you please—Mr. Walker. He said he thought he had connexions of sufficient power to enable him to construct it. What Mr. Walker was that I—A lawyer. Where does he live ?—I do not know. Is he in London f —He was quite a young professional man. Does he reside in London ?—I believe so. Where is he to be found ?-11e was originally connected with our solicitor. Where is he to be found I—At the present moment I do not know. You will find a minute upon the subject. Mr. Linklater—Mr. Paddison can help us. Is he to be got at, Mr. Paddison ? Mr. Paddison—Oh, yes. Ho thought he had access to a number of wealthy persons of position. Ido not feel at liberty to name those whom he thought might be disposed to take up the whole thing throsqh the strength of their own connexions. I am afraid we must trouble you for their names, as we may hereafter have to test, not the accuracy of what yo 1 are now saying, but your memory—l do not think it woald be right for me to give the names to be brought before a pub. lie meeting, nor do I see the importance of it. Mr. Linklat?.r (to the Commissioner) —I am Quite in the judgment of the court upon the subject. The Commissioner—lt is not very material. The Witness—With due deference, I think not. Mr. Linklater—lt had been put up to auction in 1854 1-- When I stated that we were in hopes of— The Commissioner—l suppose there were some subsequent endeavours also taken ?—I did not absolutely dive into that. We thought that though that particular instrunyentality might fail, others would turn up advantageously which would en. able us to carry out our view, because a time might 00MIP more favkrable for the construction of a company upPn that principle. I did not place much faith upon his particular in. strumentality. He said, I know se-and-so and so-and-so, and I can get access to parties who, I think, will be likely men to take the thing up. Mr. Linklater—When was that I—Some time, I suppose, before 1856. Mr. Paddison—As you have applied to me up )n the sub ject, and as Mr. Esdaile has himself stated that Mr. Walker was, he believed, connected with the bank solicitors, just per mit me to state all that I know upon the subject. Mr. Walker was a clerk of mine in the year 1854, for nine months ; he left me at the end of those nine months, and from that time afterwards to July or August, 1856, I never saw or heard of Mr. Walker ; but in either July or August, 1856, or some day which can be got at through a minute you will find in the minute book of the proceedings of the d rectors, it was stated to me incidentally that Mr. Walker had been employed by the diree ors, for the purpose of getting up a company to purchase those Welsh works ; but as to the negotiations with Mr. Walker, as to the peculiar instrumentality through which he was employed, as to any interview with him upon the sub. ject, I know nothing. The Witness —He wan introduced to me by Mr. Crawford, our new manager. Mr. Paddison—He heard of the employment of Mr. Walker from information which had been given to him. Mr. Linklater—l must ask you when was it that you had communication with Mr. Walker upbn the subject of this company I—June or July. Perhaps at the same moment at which Cho bank closed ! No ; I should think not. Had not a.Mr. Thompson been employ ed b y the directors 1 —Yes : he was a civil engineer. Had he not given the Welsh works up as a hopeless task ? believe —No, he gave it up becau se it did not afford—l believe those were his words—sufficient scop e for his enterprise. Ibe be wanted to go into the iron trade and the coal trade. When did he give it up ? — I d o not know; 1854 I suppose. His letter exists, which will give you those particulars. Just see, Mr. Esdaile, whetherithis mi nute o f the 29 th of August, 1856, will refresh your memory as to the time when you had communication with Mr. Walker. I find by the minute of that day, the 29th August, that the solicitor stated he only heard yesterday that Mr. Francis Walker had been instructed by the court to form a company for taking the Welsh works, and observed that this had been done without ree i n l w Bs b 6 i: which M hadr. Z e i n n nig er employed i n l B fs o3r, sense a M purposes. r p Yenning n g Th his privity, and without asking his advice upon the subject, co ntrary to the conduct of the court upon the tw o f ormer i n . c stan entry i n general manager stated that the disposal of the works had asserted e b d a d th b a e t e i n t been for three years in Paddison's hands, and it time to r t a o l e m i a b n u ag t manager's s n t e a w tem di e i n e t clo a r n a d th af a lt try some one else. The solicitor denied the truth of the gene. bank up to that time to avoidtheir o wn putting forward solicitor in any attempt to form a comp any , in order that the bank connexion with the works might not be known. Now. the policy p w ol e i li cy k :f o rhe that minute is signed by yourself as governor ?—Yes. And it correctly reports what took place 9 — Ye s • your cm . Now, does th a t ena bl e you to say w h e ther or h n e ot end of the munication with Mr. Walker took place at t rete _ p My at the month of August l as t y ear I—l should think - o tiations pend. end of July . There were one or two other nog ing at that time. th a t you represented that Do I understand you now to say n, h e in the accounts ending which you believe to b e trueecl w sh works to be a good asset June 1856, you stated th Well, we did feel, and we were to the amount of 120,0t0b0e1. eventualities would be such as to prepared to say, th e at ank b upou that — produce a loss W th Ido not wa nt to i nterfere with the exercise of all the elo. but I want an answer—yes or no. quenc e of your vocabulary, d you to represent that you believe you were Do I unders tau iu the accounts ending the 30th of stating t h e truth When' June, 1856, you re presented to the shareholders that the mines cons t i tuted an available asset of th e v alue of Welsh 120,plain001 ? It is a plain question , and let me have an answer ,es or no I—lt is not a question that I can give a plain a nswer to. We may have had, and m us t hav e had of course, certain anxious feelings with regard to what the future would bring about as to that t , roperty, but we were not prepared to say that there would be a loss before that loss was proved. I therefore cannot give you a yes or no answer. I can only give you such an answer as is present to my own mind. I must ask you, Mr. Esdaile, upon the obligation of the oath you have taken, whether, on the 30th of June, 1856, you believed the Welsh mines to be of the value of 120,0001. Do not hesitate so long.—l am obliged to hesitate, because at that time we were in confident hope that we might make arrangements by which the property would be redeemed, that that those advances would be redeemed. Had not Mr. Donally been in communication with the bank in reference to the sale of these mines 7—Years before. What do you call years before-18551—N0, 1852. Faddiaon-1852 or 18337—The mints had not bee 4