The Daily Times.
Liverpool, Merseyside, England, 1860-12-20 00:00:00

therefore, 'had no right to stand up in the way he had
done.
Mr H. W. BANNER said he had not intended to
obtrude any remarks upon the meeting, because he felt
fratisfied as a liquidator with their showing an increased
amount of assets by their statements ; but it would not
be honsest or fair that he should shirk blame attaching
Co him. Therefore, before Mr. Moore replied, he had
to say he would rather he had included them all in one
lash. He felt it only fair to say, that be was the one to
open a correspondence by the letter to Mr. Freshfields,
upon which Mr. Moore had remarked. It was upon
him; and not upon Mr. Branker, the chairman of the
liquidators, that Mr. Meore's animadversions should
therefore fall. Mr. Banner proceeded to say that he was
also the one wbolold Mr. Moore that the Attorney-General
and Mr. Boville would be'consulted. They were under that
impression, and had no ittea that there would be any
alteration till the addresses cattle down. He had asked
Messrs. Freshfields why they had made the alteration,
and they said they had made it considerirq that Mr.
Roundel! Palmer and Mr. Giffard were the Defter men,
and that the opinion would be more satisfactory to the
shareholders.

A SHAREHOLDER wished to know what assets in the
shape of household property were yet unrealised—houses
or land

Mr. BAONft replied that the only house property in
Which they were interested was some house property in
the Pa'rk, on which the bank holds a second mortgage. It
was producing £so' a year in excess of rents; it sold, it
would not produce the amount of the first mortgage.
There was a stnall piece of land at Tranmere worth
£l2O. That was all/ Wept,. he should say, a consi-
derable portion of property it Manchester, as a debt
to the bank from which they expected .£20,00'0. It had
been offered by auction.
The CHAIRMAN presumed the time had not yet come
to',crack upon the resolution moved by Mr. Bramley-
Mobre'.. He bad no wish whatever to shirk the expres-
sion of die apfniou of the shareholders: at the same time
it was his businesg,. 0 chairman of the meeting, to sec
that everything was dont' and put in a legal manner.
He called upon Mr. Marshall, et,licitor, to explain in
what position they stood.
Mr. MARSHALL said—According to the adteAement,
that was a meeting simply for the purpose of repotting
progress, nothing else. The resolution which had been
put into Mr. Braneker's hands was one which he could
not legally put to the meeting. He had not the slightest
hesitation in saying it. If any shareholder was desirous
of passing any resolution of that kind, they must adopt
a totally different course.
The CHAIRMAN, after that statement, could only
say. to
.the' shareholders who entertained the opinion
embodied in the resolution that they had a short and
direct codtse' open. Those who thought he was
unfitted fat the' situation which he held had only
to apply to the Master of the Molls, and it was in
his power to remove him at any time. Ile had no wish
to remain in the situation, but at the gam time he re-
presented not only the gentlemen preztitt, but the whole
body of the shareholders; and it would be kis duty to
see that an expression of the opinion of the whole body
of shareholders should be taken. He regretted exceed-
ingly that to any there he should stand in such a light ;
with regard to seine, he was not surprised at it. That
there had been expressed in various ways dissatisfaction
with the way in which he had conducted some portion
of the business he was aware. That it had arrived at
that culminating point was unpleasant to himself, but
if it was the wish of the gentlemen to carry it on, he
had pointed out how they could do so.
Mr. J. BnAttmEy-MorntE---Mr. Chairman, we knew
perfectly well the object of this meeting, that it was for
the purpose of receiving the report and such explana-
tions as it was your pleasure to give to us; but, sir, not-
withstanding the law of the case as laid down by Mr.
Marshall,—though strictly we may be forbidden by the
strict letter of the law from putting such a resolution,—
I did not expect there would hare been any obstruc-
tion to having known the sense of the share-
holders on so important a matter ; and I
think, instead of putting the shareholders to
such an expense as you know is involved, when yon see
that it is the wish of the majority that you should retire,
it would be more graceful you should retire of your own
accord. (A laugh.) It would save a deal of trouble,
too. If you have conducted the business of a liquidator
so well, there may be a majority in your support. That
would strengthen your hands : then you might go on
with greater confidence. But if, on the other hand,
there should be an expression of the opinien of the
shareholders against me, I certainly, speaking my own
sentiments as how I should act under such circumstances,
would withdraw from the concern. (Laughter and
applause.) Mr. Bramley-Moore concluded by suggest-
ing that they should take a division, for satisfaction.
Mr. MARTIN objected to that. It might be well for
gentlemen to conic there with a cut-and-dry resolution,
bringing his own friends to support him.
Mr. J. BRAMLEY-MOORE—NO one saw that resolu-
tion. It was written only five minutes before I came
here.

The CHAIRMAN—If I wished to retire to-morrow, I
must have the sanction of the Master of the Rolls for it.

Mr. J. BRAMLEY-MOORE—WeII, you can obtain that
sanction, I have no doubt. _ .

The CHAIRMAN—Perhaps you make the application,
and relieve me of that.
Mr. NICHOLSON—Then what about the other two
liquidators ? Is there any legal difficulty to their re-
tiring. You see there are only £lOO,OOO of liabilities
to pay off, and I don't see it requires four gentlemen
to do that.

The CHAIRMAN—The other liquidators were certainly
nominated in the way stated by the London bill-holders
and Liverpool depositors, but they were elected by the
shareholders as a body, and were confirmed by the
Master of the Rolls, and there they are. Each liquidator
has been legally appointed. It is in the power of any
individual shareholder to bring a case before the Master
of the Rolls if he thinks proper.
Mr. BRAMLEINMOORE—But unfortunately you have
all the funds.

The CHAIRMAN—Has any gentleman any further
question ?
There was no response, and the meeting began to
break up, when, on the motion of Mr. Martin, a vote
of thanks was passed to the chairman.
Thus ended the meeting.