The Express.
London, England, 1863-04-02 00:00:00

BANS 01, WALES (LIMITED).-(THIS DAY.)

A meeting was held, at 11 o'clock, at the London
Tavern, convened by the directors, to enable them to afford
explanatioas to the shareholden in answer to certain
meows which bed gone abroad affecting the undertaking.
Mr. J. W. Jo® occupied the chair.
The manner (Mr. nallocli) having reed the notice con.
1 vening the meeting,
The CHAIRMAN said the directors thought it beet to dispel
all suspicion by eoevaniag a meeting of the shareholders,
sod ester* into a full explanation. As regarded the
preliminary history el the company they were all aware that
the beak was formed, as was anted iw . the ma,
for the purpose et carrying an business la Wales, and
that while only 5,000 shares had to be issued, 16,000
were applied for. The deposits for shuts which were
sot allotted wore returned as early as possible, and a
manager was selected whose appointment there was
to
meson to nine. The manager immediately
after his appointment drew tip a scheme for the future, and
one part of that scheme was the early calling up of hcapitel.
Expenses were going oc, and without capital it was impos-
sible to commence operatic... The prospectus, moreover.
stated that 251. per share would be called up. As
the call of 51. which bad been made, he might smart that
it premed more heavily on the director than other,. When
vacancies arose in the direction it was determined to
keep them open in order that it might be seen
who were the shareholder,, and that the most eligible
pewee might be selected as directors. That was
the sole reason why the vacant seats had not been filled up.
The board had paid the promotion money which they under-
took to pay, and they had kept down the expenses to the
lowest pout. What was the issue of the alarm which ap-
peared to exist? The directors could sot trace it to any-
thing tangible. Then was no ground for alarm ; the dis-
trict Weeded to be occupied was still and they had
ameranees from the Priseipality that they before them
one of the bed fields for banking that could possibly be
foaled. It wee impoesible for the board to know that certain
CuThad taken more shares than they could pay epos.
erd, in fact, no right to consider that question.
(Hear, hear.) All regarded the prospects of the bank, he
would leave them to be spoken of by the manager, who
certainly would net have given up a good position
is the London and County Bank if he had not
fall oonfideoce in the un.lertaking. (Hear, hear).
The directors themselves held one.fifth of the shares, and
they were fully prepared to pay the calls as they became
due. (Chews.) With respect to • charge which appeared
in • newspaper of that morning, he had simply to my
that the directors bad pledged themselves to the committee
of the Stock Exchange never to traffic in the shares of the
company. (Hear.) They had not done so hitherto, and
as regarded the power of doing so which they possessed
under the articles of association, and which was a mual one,
they had undertaken to propose its abolition. As to the
call, the directors had no legal power of rescinding
it, and if they bad such a power they would
asetaieli sot examen it. With regard to the prove of the
shares in the market, he read a list of several new banks,
the shares of which are sow at a discount, the list endiog
with the shares of the Bank of Wales at la discount Wulf.,
he inked, to be supposed that all those banks had lost the
pahlbt coandonee? No ; the truth was that there were a
peat somber of new oompanee many of the shareholders of
which bad not acticipatd being compelled to pay calls. He
coecluded by declaring that he was prepared to an any
quentions that might be pat, and to afford the fullest
information. (Cheers.)
Mr. &IBMS (the chairman of the meeting of dissentient
shareholders yesterday) mid the chairman's explanation was
one with which no one could find fault. The public bad,
however last confidence in the direction—why be could not
uodiestsind. He would suggest the appointment of a com-
mittee of six shareholders to inquire sod amertain whether
or not the unfavourable rumours which had got abroad were
true . .

Mr. IL Moses thought that after the full and salidaetory
explanation given by the chairman the shareholders must
have full amfideoce in the directors. (Hear, lam) The
directors were gentlemen of high character, ems of
them well acquainted with banking, and be thought
the meeting could not do better thee
vote of confidence in them. Ile Mil himselfa
now
prepared to go into the market and boy more shares.
He believed the bank would, if the board were daly sup.
pay • good dividend, but if the quarrelling ou-
nd. it would be fatal to the prospect& of the on-
' dertakisa. Having gone to the bank to examine
Imattes for himself, he found what fully combo-
sated the chairman's speech that morning. He found
that 6,0001. bad bees paid for promotioo money, that the
=pease, had been kept down as much u possible, and that
loathing but capital was required to commence operations
with favourable prospects. He saw no necessity for a com-
mittee of inquiry.
Mr. TINDAL RTEINBON said that the Ottoman Bank, of
which be was an auditor, sad =soy other banks bad pseud
through a similar ordeal to that which this bank was paw
isg through, and yet they were now in • fiourishing oarl-
ike. He was glad to bear Mr. Sterne unsay 'his Isogonal
of the pruioas day. As to postponing the call. why
ft would be like opening • baker's shop without
any bread. (Laughter.) . If some reveal had takes more
flesh in their beaks than they could swallow, let them
share some of it with others. (Hier' bear.) Let coca-
duos be extended to the directors, and the shares would
loos be at a premium.
Mr. Stuns repeated that he had no wish to find fault
with the directors. He bad =shares, sod was quite pre-
pared to pay- the call. He still thought that some inquiry
was desirable in order todissi pate the rumours whith had goee
forth--(No, no)—bat he had the fullest confidence in
the directors. [A. voice, " Move a vote of confidence in
them.") He would do so. (Cheers.) He then moved •
resolution declaring the confidence of the meeting in the
board of directors.
Mr. °AIRWORTHY seconded the motion.
Mr. lioorsa aid reports were current on the Stock Rs-
, 'huge that cartel° directors had been trafficking in the
sharer. If that statement were not erne, there must have
hese forgeries, ea their names had been seen in transfers.
(Cries of " name.') He did not wish to name. (Renewed
miss of "name.") Well, one some was that of Mr. Ouchter.
loey.
Mr. Oricarsormire, • director, aid be had no hesitation
The Courtier of Lin abating that in the manias of his right as a shareholder
yons states that in one of the he yid mid a few d his shares, but he still held 100, and
private lunatic asylums in the neighbourhood of that city, was ready to pay the call epos them. (Cheers.)
there are not less than forty persons coofisad, labour* Mr. Hoorn, oe being asked whether be had any other
under mental aberration caused by "spiritualism.' same to mastics. replied in the negative.
Tan LIVERPOOL CORPORATION AND TEN ROTAL
Mr. litasimes aid be represented • number of share-
mum. and
MARRIAGL —The Liverpool Town Closecil, at their foamy, (0,..a) the chairman,. statement quite astir
restingTeiterdays sarAtiODed 0,0 expenditureby tbs I Yr. RAzats believed that the fall of the shares was
finance committee of the min of 2,4221. les. 7d. forearryisli owing in • crest degree to what had occurred at the board.
oat the eats m 000DARiOli with the marriage a the Hs would like to know what number .4 accounts had been
PAW. of The mayor neatly mat as levitation to ' promised in Wales. As to the call, it was of mane aneroid-,
Mar Royal Mousses the Prima sad Prkeesss Okrietba , able, for so bosh could go oa without money.
of Deassark, and their family, to vile Liverpool ; bet they I Mr. Attics thee put the motion of coofidsoce in the
bad Leh the country before it wombat Leaden. A. letter, following terms :—"Thatthis meeting, baying bested the very
however, wee read from Whitehall, at the eaaaall ossoliog satisfactory statements of the directory, desires to express
yesterday, expressing the pleasure the timely of Dee. its utmost confidence is the board and in the future success
bark would have felt in accepting the iasa H they bad of the vaisteskiag."
remained in Englead. The male was carried unanimously.

The coroner them summed up and said that there •ag no
evidence whatever, and it was clear that there could ke now
as to who inflicted the iojuries of which deceased died, or se
to bow they were inflicted. It was true that domed stated
in her husband•. presence that it was he who struck her and
the law held that such a statement was to he held legal evi-
dence of the fact. But in the present case the haat:wad was in
such • druoken state, that he could hardly be regarded as
capable of •ndentacdasg what his wife was saying, and
further it was in evidence that the inane herself was
intoxicated, and therefore not in a state to have • clear
idea of what had taken place. There might have been a
struggle and a fall. The principal witness, the young
woman Button, was, by her owe ;Locum, • servant in
an irregular home, and her evidence should therefore be
received with same distrust with regard to • person spinet
whom she might have hrd an animus.
The jury, after some deliberatico, returned • verdict,
"That the deceased Apo. Btewsrd died on the 24th March
from the mortal effects of fracture of the ribs but how the
said ribs were fractured the evidence before the jury is not
sufficient to prove"
The proceedinp then terminated.