The Express.
London, England, 1866-07-10 00:00:00

OUTWARD MARCH MAIL.

The Ellora reached Melbourne on the 13th ad
Sydney on the 16th March (correct dates).

GENERAL EXCHANGE BANN-(THIS DAY.)

An extraordinary meeting of the shareholciaj
was held et noon, at the London Tavern, to consider tie
position of the bank and to determine whether or 130 i
new bank should be formed. The chair was taken by lk
HATTEMILEY.

The eremitic/or introduced the proceedings tearra
ing regret at the absence of the chairman of the ,Ne,
Roebuck, M.P., owing to continued indisposition. •
The notice of the meeting referring to the projected*
illation of a new bank was received with shouts of denim,
The CHAIRMAN, after deprecating any manifestana d
feeling, referred to the amalgamation of that bank with*
Estate Exchange Bank. There was, he said, no truth hide
rumour that the Estates Rank was, at the time wheals
illation took place, in an unsound and rotten st*
re it
entered into a long detailed statement in suppa
of this denial, and said that the lucking up of imolai tat
place legitimately in connexion with the building comp*.
At this point in the proceeding. there were I*
demands for larger space, the room being deudj
crowded.

The CHAIRMAN, having stated that no larger room**
be found in that building,
A SHAREHOLDER moved an adjournment to the imp
room of the Whittington Club, and this motion ma
seconded.

On a show of hands the motion was negatived.
The CIIAIHMAN then said that without further monk ,
having regard to the heat and pressure, he would at at
move the first resolution. (Loud cries of " No.")
Mr. Coomm, provisional liquidator, here read, at ill
request of the Chairman, the following statement of
counts:

" Approximate statement of affairs, July 2 18647.-Dr,:
To amount due by the bank on deposit and current*
counts, 37,395/. 75. 7d.; on acceptances, 18,14191. lfs;
foreign billacoount, 9s. 9d.; on circular notes, Di;
to liability in respect of debt claimid by Clench, 84
and Co., but which is disputed, 4,7701. Ba. 2d.; to InIS
ties on bills negotiated, 152.800/. 95., a small portion/
which may rank against the bank; to surplus carried SS
ficiency account, 40,K10/. 10s. IOU.; total, 10!1,4731.13.4'.
Cr.: By cash in hand, 7,803/. 9s. &L ; by bills receive*
on hand, 1,374/. 10s. 7d. ; by debts due to the bank, e*
sidered good, 22,8751. 15s. 10d. ; by ditto, doubted,
4,218/. 4s. Id. ; estimated at Is. in the pound, 1,C41. 1k;
by ditto, bad, 3,3151. Ils. ' • by bank premiss si
furniture at head office and branches, 11,73a1. 15s. fit
(The deeds of the Strand premises are held by bankers a
secure the payment of the company's acceptance fa
5,000/.) By amount secured cm freehold and leasehold
estates, /ix. (Strand branch), 64,626/. 9e. 9d. (Arm*
ments are being made with the General Providence gar
ranee Company to take over these mortgages and give the
bonds as an additional security, payable by quarterly M
stalments, extending over seven years. A portion of thee
bonds are held by the bankers to secure payment of tie
company's acceptance for 5,000/.-Total, 169,473/. 12e.
" Statement accounting for the deficiency.-Dr.:
Capital Account-Amount standing to credit, ioclei
ing sum of 29,6561. per contra, 116,0771. 4s. 9d.; is,
amount received on forfeited shares (balance of aceellik
24,9011. 19e, 4d.; to difference in books, 104/.175. -tank
141,084/. Is. 6d. Cr.: By surplus brought from state:nee
of liabilities and assets, 40,830/. 10s. bit. ; by amount&
in ate. ..t of shares issued to shareholders in Ise
don, Hamburg, and Continental branch, 291561.:
by purchase money of bank business :-Strand.
head office, 14,555/. ; together, 28,5.55/. By prelimMS
expenses, 6,2001. By amount standing to debit of lise
burg branch capital account, 25.031/. ; other awn*.
3,960/. ss. 11d.: together. 28,9rA1'. Si. Ild. (The banns*
30th dune has not yet been received from Hamburg; pia
liabilities of that branch are thereforenot yet aseertaisell
By loss on bad and doubtful debts, 3,197/. !a.
suspense account-amount to debit of estates bank, 1,144'
15a. 101 ; difference between Head-office and i 0
branch accounts not yet adjusted, 77:i1. 12s. 8,1., togetis
1,9211. Be. fid. ; by amount standing to debit of profits'
loss, 1,7631. 74. ld.-total, 141,084/. le. fig."
The CHAIRMAN moved the following resolution :-" TIP
it has been proved to the satisfaction of this meeting tit'
the company cannot, by reason of its liabilitivs, scaly,
its business, sad that it is advisable to wind up the sus
There were other resolutions providing for a volumed
liquidation by Mr. Cooper, and for a transfer of the
Ms
nee% of the bank to the General Banking Company.
The first resolution having been carried nein. roe.,
On the second resolution, involving the que
what shareholder should be associated with the gi'v
fessional liquidator. a stormy discussion took Pl°
The name of Mr. Mercy was hailed with great diel.
ing, and seemed on the point of being sanctioned.
rrM
Mr. Dean rose to address the meeting, and was recow
with great uproar.
Mr. DEAN, admitting that Mr. Cooper was a Renter
of the highest respectability. objected to hin, ea the
that he was the nominee of the directors. As regardedw
14,0001. set down in the accounts as the "Imrchase mead
the bank business," he stated that a bill bad beeeltP
against those who received it for the purpose of retool
it. He concluded by proposing to substitute the name
Mr. Whinney for that of Mr. Piercy.
Major STUART objected to Mr. Whinney, on the roil
that he is acting as liquidator of the London, Hambq
and Continental Exchange Bank, between which sod
is
General Exchange Bank there were, he said, grate 0*
tions remaining to be settled.
o,e•
A SHAREHOLDIR, who was received with snyth
•
complimentary greetings, then proposed the appolntad6
of a committee of four gentlemen to act with an amr",
liquidator, the names being the Rev. Hobert filagtett,""
Pierce, Mr. White, and Mr. G. A. Head.
meeting was proceeding when our report left(

The Earl of Longford, Under-Secretary of SWe
for War, has appointed Mr. S. G. Osborne to be hit Of.
secretary.
The constituents and friends of Sir Hugh NO
intend to entertain him at a banquet on a large sale I
Belfast, to celebrate his appointment u AttoMe74t
aorta.
The Yorkshire Fine Art and Industrial 011.
bition will be opened at York on Tuesday, the '2 40 Oh
by the Archbishop of York, assisted by the principal PAP
men and gentry of Yorkshire.
It is stated that the Prussian government NI
already given an order for 40,000 of the newly len
American gun, which, it is said, allows 12 shots to be IP.
in a minute.