The Express.
London, England, 1865-04-01 00:00:00

NEW ZEALAND
BILL GOVERNMENT
TREASUR&
The undersigned, noting as behalf of the Government of New
Zealand, notify that they will Twelve 4811 It o'clock on MONDAY
next the and of April, APPLICATIONS for the VNALLOTTED
BALANCE of the TICEASCRY BILLS offered under their adver-
tisement of the 18th March laat, vta :
Of the End series, £119,800, at and above the minimum of
LI fh. par cent premium.
Of the lid satire, £143,200, at and above the minimum of
£l!d<per Deaf
wilt be allotted to the Melt t bidder&
imd a pro raft dbtribution on tenders at equal Aces be
maga
lIALOONZR LARKWORTLLY Alfe2ls V_Pulutfdh7 tbo On-
ROBSET PORTER, ' vernorof enZesland fort o
Tram' Bills under
WILLIAM SMELLIE GRAHAME, bentnree - Act, 186‘...
Bank of New Zealand, to. Old BroadeAreet.
London, March MASS&

(rum 31ILDAL AWARDID I
lk.LLklill PATENT PORTMA.NTELUS sad
TWILLING RAGS with wears
LADE= WiItDEOZZ mums, DREIIMMOI.
ilter SU.I
=VAT= DOIS, mums and DIMING Chllik_lted
IMO either setkass I r hem emeliseelea IrervailW
agelqvaes od sW
tree.
Alm Alepste Berrecll lavaliere Cehaellwe d Per6ol. 801
Drawers. Mg Chaim Weskitend-atende, Canteens, lte.
ogp, miaowing,* ow wan*. M. Weil elisod.
Tomolos
'vas BROGDEN.

ch GOLD CRAIN MANI/ FACTORY,
16. 111241111CITL-11TWT. COVINT-0•11.DM

;GRN BROGEGENS GOLD CHAINS.

OHN BROGDFIIII GOLD GUARD

BROODIRCB G OLD ALBERT CHAIN&

IHNBROGDZNIGOLDBROOOHOHAI24B.

cue erpreois•

TO 0011RESPONDKNTS.
bavatlawoooto Wooded for •' TM Nzproos" Louisa limbs
moot be
o, at Moo 10, 'louver's-Am* by Two
.

fIAYWARXICT.
Tuts Krim°, THE WOLF AND THE LAYS.—TIE
WOMANwp BM
IN WAUVIL AWOL W
Lo ow% lowdoWww.
Fi, and Compton; Ilaadasass W, va.
EASY SHAVING. llama L. Keeley and F. Wright..

PRINCINNFL
Tate Eranneo, HIANT-87111NOS AND PIDDLPAYIUNOR.
—ARRAN NA POGUE. News. D. Bandana. J. DranaGesn,
FL Yandenhed, D. Fisher, D. Marra, Peyton, artes Mx D.
Boneicsalt and Mir N. ouwr.—Assi AN AIMS APOLOGY.

LYCZOM.
TMis ITEM* THE PA&D.SIDI INIC. Moms H. wide-
comb, Fits.,strlek, sod =mol7; Was Mswortrtp;all?
MAMMA Mews. Ryder, Moisman.rriddiesesb.
114110.114Midos sad Mrs. Morssms.—Oosuosoms st

ERITAMPIA.
run THE PALBI MOTHER: OR, THE PARENT
ODARDIAN. M. R. Ladle awl WM A. Dollish- Mies P. Cow-
ism.—Rrofearx lithos. Minor Mellish sod his sagacious Dag.
—APR MAWR GlllNEA.Comsuips at tualt-perill.

BUM WATER. AT IDNDON-BRIDGI.
T 1 DAY Mosta& 6b. Siss.....Afteesoos. 61a. as.
Ttruosaaw North% IL 144....Ati0n0" SA. lAs.

LONDON, SATURDAY. APRIL 1.

Tam Report of the Committee appointed to in-
vestigate the affairs of Mews. Arrwoona,
Sroorms, and Co.'s Bank too well justifies the re-
corded fears of Dr. Muria and his colleagues that
" it will produce a deep and moat painful impres-
" "ion, not in Birmingham only, but throughout
" the commercial world." The stoppage of the
Bank gave • shock to credit such as attends
every great failure, as it brought the mutability
of commercial interests home to every mind ;
but we are now called to contemplate in the light of
this report something far more terrible than leer--
the violation of the most elementary principles of
morality itself in the conduct of • family of bankers
who have for a generation enjoyed the esteem of
their countrymen. The Committee appointed by
the creditors of the Bank have discharged an

unpleasant duty with prudence and firmne
They have had to inquire into the causes of a
catastrophe which, long prepared in secret, was
least of all expected when it burst upon the town
end neighbourhood of Birmingham, and covered a
wide district with the wreck of ruined fortunes. Their
inquiries have been watched with eager interest by
a provident and struggling population, whose pro-
perty has been clandestinely consumed by mem-
bers of a family which they had been taught to
honour. The truth must be pleinly stated. The
Aerwoons have been for years abusing the confi-
dence of their neighbours, both small and great, to
prey upon their estates. When it is said that this
or that Arrwoon drew money out of the Bank, the
meaning is not that he resumed his own invested
capital—for none of them had any—but that, 10-1
solvent and penniless, he laid hands on the property
of depositors and other customers without their
knowledge, and applied it to his own use.
It is now ascertained that the Bank was in an
unsound state as long ago as 1836, in which year
Msrraias Arrwoon, the father, died, considerably
indebted to the concern. The Committee, how-
ever, take up the history of its affairs at the be-
ginning of the year 1854, the date at which the
last combination of partners commenced. In Jan-
uary of that year the firm was thus constituted
GEORGE ArrWOOD, RICHARD SPOONS)" THOMAS
AI:111100D, GEosaz MARSHALL, RIMLY KATY
SHALL, and THOMAS AIIISLIIIS Arrwoon. Now of
these partners brought any capital into the Bank.
The MARSHALLS were in fact clerks, made partners
for purposes easy to understand ; while the Arr-
woons represented not property, but their father's
indebtedness, to which they had made additions of
their own. The Bank bad not a farthing of capital
at the beginning of 1854, and it has been losing
money ever since. At that date there was a defi-
ciency of 270,0001., of which 235,0001. miaowing
by the Arrw•oone after credit had been given for
the value of the estates transferred by them as
security. It is perfectly amazing that a bank thus
constituted—a mere faqade of credit, with nothing
but a bottomless pit behind it—should have been

accepted for eleven years u the most solid of struts-
tnree—the safe repository for the wealth of the
capital of the Midland Counties; its showy front
never imposing so completely on the popular inur
gination uit did just before its felL Mr. Groans
Arrwoon died in May, 1854, being indebted to
the Bank in the sum of 235,0001. Mr. Glzonoz
Mavaniu. died in 1855, leaving the Bank non*
the poorer for his connection with it. Mr.
Tnomss Arrwoon died in 1856, owing the
• Bank 12,2861. Mr. THOUS AUULIUS Arrwoon
died in 1864, owing the Bank 6,7591. Mr.
Srooxan died in the same year, owing a balance of
3,4481. Mr. RINEY MABSRALI, the only sur
viving partner, owes the Bank 1,5001.,whi0h, how-
ever, will be paid. The total lees to the Bank by
the drawings of the partners may therefore be thus
stated :

George Attwood £235,000
Iticharil Spoon: deductive vela* of estate,
life policies, Spooner,
credit on print. accoant 3.448
Moans Attwood l3lBB
Thomas Aurelian Attwood

£257,43

But at the time of the stoppage the deficit had
swelled from 270,0001. (its amount in 1864)
to 340,0001., an inane.* of 70,0001. m
eleven years. The Committee account for
this result by the enormous loss of interest
to the Bank by the withdrawals set forth above ;
by the improper indulgence of customers in
the practice of overdrawing; sod lastly by the
=alines' of the profits actually earned. On this last