The Express.
London, England, 1864-05-31 00:00:00

BRITISHARDAMERICANZICHANGEBANXING

COAPOBATION (LIMITED).-(THI8 DAY

An extraordinary meeting of the shareholders
was held at nom, at the head onion of the corporation, I,
Bank-buildings, for the purpose of receiving the resignation
of the following directors :—Mr. H. G. Gadder, Yr. R.
Offlempie Mr. H. Littlidele, Mr. A. Boyd, Mr. J. Gil.
elle* ,Yr. W. IL Neill, Mr. J. Pander, IL P., Mr. T.
Bees, Mr. W. Beanie. sad Mr. & Stitt, as directors of this
weapaay, and, if enesidend &dirigible, to elect director. in
' the plass of those resigning.
The chair was taken by Mr. H. G. Gerdes.
The notice caucusing the meeting having been reed,
The CHAIRMAN os/led owe the secretary to read the state.
meat prepared by the directors explaining the cause of their
reetvereg ; bat
Mr. H. Frame 'asserted that, sa the statement affected
' the directors themselves, some other than a director should
preside.
The CHAIRMAN said that as chairman of the board be was
bound to take the chair.
Mr. H. Fla= thee moved and Mr. Jaiirreox seconded
that the meeting should be private, in the presence of the
directors sad shareholders only, excluding the prim.
The CHAIRMAN declined to put this, and after some dia.
ellr.nixerneox thee proposed that they should proceed to
the 'Section of directors without any previous statement.
If a stetemeat was to be submitted it ought to have been
circulated beforehand.

Casintiiir replied that the statement had been
prepared by eight et the directors resigning, and it was no-
thing more than a speech which he, as chairman of the di-
rectors, had a right to make.
It was theta suggested that the statement should not be
reed by the secretary.
The CHAIIIIMAN time proceeded to read it. It 'commenced
by stating chat the meeting was called to receive the resig-
nation of tan of the directors, hut eight only proposed to
resign• . . . . .

iThithusiumnte protested against a statement which
evidently was to be made with the view of damaging
the bank being dammed in the preessos of the reporters.
Mem)
The CHAIRNAI denial that the directors resigning had
icy such object, and proceeded to read the statement
which made charges against certain or the directors of spe-
culating in the shams of the company, and being connected
with an orgeasiestioe ortgleatieg is Live-pool to purchase up
the whole of the shares of the hank for that purpose. The
majority of the board, therefore, finding that the
whole power wee in the hands of one or two of
their members, who refused to reap, and that the
coedit of the beak was damaged in consequence, determined
to resign. The business of the bank as established by the
board was mast promising, and but for the conduct of the
parties implicated it would have been most successful. As
it was, they handed over the affairs of the bank in a sound
and solvent state. _ _

7111;:iirftrueeTh moved that the resignation be accepted,
which having bee. seconded,
Mr.W.J. Fauns, aim of the directorsimpliatted in the state-
wt read by the chain:ma, &leaded his coadoct, observing
that be bad bought a large number of shares at a high price,
that VIM his afar, and it ill became other directors, who
had sold them at high profit, to complain. (Hear.) They
maid not put money in their pockets and at the urn. time
claim credit for disinterestedness. One member of the board
had had 300 shares tranderred to him, and sold 270 the
next der. (" Name, aims.") It was Mr. Ponder.
Mr. Pi truce. M.P., denied haring sold a single share that
he had not bond fide possemed. It had been represented to
him oe the Manchester Stock Exchange that in order to
mastered the rigging going os by the Liverpool party it
would be desirable to ewe the market by selling some of
the share", arid be accordingly sold all that be had except
the 30 required for a tralifiwitioo.
After some diseasnou of a personal character, in the
course of which it wee elicited in reply to questions from
several shareholders that the directors who had had
allotted amongst them in the two issues 3,000 shares, had
sold all bat about 300, the motion of the chairman wee
carried ; and the resigning directors therefore mewled their
seals and retired from the room.

iii.s;inlie7o;l;eTlieiroterlto the ehair, sad, 00 tee
motioa of Mr. NICHOL/10X, Messrs. E. Lawrence, E. C.
Dickson, Stock, and J. Jemierou were appointed directors;
it being explained that the arrarEsont was merely tem-
porary sad mode is order that business of the bank
might be oarriad ea, then sot sufficient directors
without this sieotioa to forma a goons.

LAW INTELLIGENCE.

(THIS DAY.)

EQUITY OOURT.
(Before Vice-Chsactellew-Wered.)
HAERIBON V. HAMMON.
sus I Will case. The testator/ left Lie properly in
way that there was a residue in the heads of his
vtors oot specifically disposed of. The question was
tier the executors were entitled to retain this for their
F _mopes, or bound to hold it for the benefit of the next

l,trilrocke, Mr. Daniell, Mr. Webb, and Mr. Freeman

the partite.
rb; 11ce.Cheocellor, after contrasting the varieua nor-
-Ithe sill, came to the conclusion that the testator
riNI that the executors should hold the fund for their
Attic.

COURT OF QUEEN'S BENCH.
- in Banco.--(Belours Lord Chid Justice Cookbure,
and J wakes Biaokbaro, Mellor, aad Mee.)
u r. 01.1D4114 AND ANtYIIiiii.—JUDONZNT.

Came before the court on demurrer, and was
I ~came time fines, when the court took time
its judgment. The defendants are the French
of • French ship, which being at St. Thomas, a
4 West (radian Island, was there chartered for Havre,
Liverpool,at the option of the eharterer,and took
,rgo at Hayti, whence she sailed for LiverpooL In
:oarse of her voyage she was famed to pat into Fayal,
gtutpiese port, where a bottocory bond was executed
order to raise funds for the required repairs of
Ail- to enable her to proceed on her voyage. After
CIS repaired she mailed on her voyage to Liverpool,
eon her arrival abe was sued in the Admiralty ime
bond, and was sold, with the cargo, under • deem
t court, to ratify the bond. The owners of the
sow sued the owners of the ship on en implied
.tot of indemnity, to recover the value of the cargo.
i,:fendants pleaded that they were French subjects
,ed in France; that the ship was a Preach ship sailing
ranch port, and that by the French law in sna a MN
ccipowner may relieve himself from farther liability by
boiog the ship and freight, and that they bad in this
w abandoned their ship and freight. The question was
e:her this was • valid defence, the voyage being to
61.0,1, an English Dort, and neither the port of charter
, the port Of repair being a Freech pert, the bond
cy been given at Fayal. a Portuguese port, and the law
of Denmark sod Portugal being the same on thei,,
ter as our own, appeared to be in accordance with the
,ri! maritime law. By the English law the master of I
?forced to put into • foreign port for repairs may "hypo-
ta" the ship and cargo by a botternry bond, which
.ifid the ownersof the cargo as well as the owners of
but leave the shipowner liable to indemnify the
,c of the goods. The question was the application of
,sr to the case of a French ship chartered at • foreign
•to a French pert, and forced to put into
,or intermediate foreign port, at which the
was executed. Mr. Mellish, with whom was
Hutton, argued, when the ease was before the
that the case was governed not by French law but
he emend maritime law, and Kr. Lush, with whom
Hodgson, urged that the shipowner was not liable.
at put on board a French ship were so placed, subject
• French law. A foreign ship carried with it foreign

'Aar Mr. Justice Blackburn delivered the judgment of
zourt, which was for the defendants, on all the points

Tigment foi the defeadente.

COURT OF BANKRUPTCY.
(Beifore Mr. Comprinioirirkepi.)
IN HZ .10/0 IDIS.

llle bankrupt was &a upholsterer. of Hilb•etraet. Shore-
_llebtsabout 2,2901,.
• • •

Llir. E. Reed now si.iplied to the court to Ns proceed-
•ain bankruptcy. The bankrupt had e a deed of
iii.-nment on the 26th of May, and on the following day
ad been made bankrupt, the set of bankruptcy being the
sn in question. Possession of the property bad been given
D:3e trustee under the deed, and it was the Malt of the
:Tatars generally that the matter should be dealt with
s!ir the deed. The court was empowered bj the 199th
to stay proceedings in bankruptcy during the period
bred for registratioo of a deed.
ir. Davies (from the office of Messrs. Amherst). on behalf
Imes. While, Son, and Co., and other creditors who
&rated from the deed, said he would not object to the
eedinp in bankruptcy being stayed, on being furnished
‘.l• list of the creditors.
:lie was done, and an order for staying the proceedings'
made.