The Express.
London, England, 1866-07-14 00:00:00

BIRMINGHAM BAN

BIRMII
Just now, nearly midni,
mined that the Birmingham
will not open its doors
three-fourths of all '
greatest of the trading
district. To say that, is
the extent and severity of

At this late hour we cann(
of the circumstances whi(
aster. It has arisen out
made a feW years since to .
cular, and to many engaged
The subjoined letter froi.
contains the only particulars
we can give at this moment
" To the Shareholders of
ing Company.
" Gentlemen,—By order
tors, it becomes my painful
that, owing to gross past
discovered, they have sustained
large amount of capital has br
rities that for a time cam
these circumstances, yoi
compelled to close the
ing deep sympathy with
not necessary for me to
that their claims are perfectly
am authorised to say that
prove that although the wl
is lost a portion of the pai4
if the estate is realised wit_
" I am, gentlemen, your obedient servant,
"THOS. F. SHAW, Mange,'
The amount of the deposits is about 1,800,01
probably the total liabilities are over two mill*
The number of shareholders exceeds 800.

The company was established in 1821. Its pd
up capital at this moment is a little den (
280,000/. The contingent depreciations and tee;
fund at the last report in February was 2100
The original shares are 20/., and a news
of 20/., with all paid up, but on the i
eni
shares no more than 4/. 3s. 4d. has been 4
up. The dividend and bonus of late „
has been 2/. per share annually.
than two years since the capital was increased vti
the issue of ten thousand new shares (201. psidi . i
at 10/. per share premium. At that time the ink,
lof the shares was 14 prem. Within the last i,
months a gradual decline has taken plaoe, sad*. 1
day week the price was Cl. prem. Yesterday tV"i '.
suddenly ran down to 201., and to-day it begu:nii)
be talked about that all was over, but very Idt
people believed it. The shares were sold at 181.:*.lt
the course of the day. ''.
The stoppage of Attwood and Spooner's Ps„.;'',„
was as nothing compared with what this mun it .. ,
There has been a conference amongst the it .
.: ,
bankers in the town to-night, and they are til.U.siv
prepared for to-morrow. • 4ii •
The following circular has been prepared: .*
" Suspension of the Birmingham Banking Ca .4,
pany. The undermentioned banks, desires I.it
alleviating as much as possible the effects di 1'
stoppage of the Birmingham Banking Compsay,s
prepared to afford facilities for supplying thee .:44,
mediate necessities of the depositors and cutter
of the bank :
" Birmingham Town and District Bank.
" Birraingham and Midland Bank.
" Birmingham Joint-Stock Bank (Limited) •
" Lloyd's Banking Company (Limited).
..
" National Provincial Bank of England." ~

(From the Birmingham Ca:ctte of this day.)

Yesterday (Friday) a deputation from the ST
minuham Banking Company, supported by wive
connected with other banks in the town, mune
to London and had an interview with some al

directors of the Bank of England, with a view teal
such assistance as would enable the firm to and a,
The application was not successful. There would in*
have been no objection to lend money at current mks*.
approved security, brit as this was not forthoomik
sufficient extent the desired aid was withheld. Tbeisar
tation returned to Birmingham last night, and de*
that there was no option but to stop payment and els*
bank.
Aa the liability of the individual shareholders is •
limited, except by the value of their property, dunk
the slightest reason to suppose that the depositas
ultimately lose one penny of their money. The lass,* A
ever it may be, will have to be made good by the pup
tors. The present staff of directors includes Ur
Barrows, Messrs. F. I. Welch, Henry Ven Wart,
Payn, Thos. Pemberton, James Watson, John Po*/
Lloyd Foster, W. M. Warden, J. T. Horton, end ;
The London bankers are the London and Wertaialt I
Bank, and bluer& Glyn and Co. t
The bank was established in September, 1829, ea le 1
the first joint-stock bank started in Birrningam.
course, was long before the days of limited liability,
the adaptation of the joint-stock principle to tankino
at first viewed with suspicions surprise by basiso°
of the old school. The Birmingham Banking Compel°
founded upon the basis of the old private banking iss 4
Milton and James; its font manager was Mr. P. M. J*l
It was one of the oldest joint-stock banks in the kiniall
and enjoyed a first-rate reputation amongst lists
establishments. At the time of stoppage, besides tbedk
offices in Birmingham, it had branches at WelAirsi
nesbury, Dudley, and Coventry. It had some of
beat business in the district, and ranked among it a
tuners many of our largest traders and public cm*.
as well the corporation of the borough.
It would be idle to disguise that this stoppageMmig.
sharply on the heels of other recent commercial dirsnaii
a great and very serious calamity. It will causes*.
burr:moment and suffering for the time, though tbs JR&
siting may expect ultimately to be paid _
Many persons who have numbers of nien Mgr
upon them for the payment of wages will find log
ordinary resources quite cut off, and will be rand
venienced in consequence. And besides the Mori+
effects of the failure, there is the loss which maths'*
tamed by the individual shareholders, who sal 10_ts
11
make up to depositors, out of their private mass,
deficiency between the liabilities and the assets yid"'
be realised.

THE QUEEN'S UNIVERSITY. —The Queen's tri•
versify Senate met in Dublin Castle on War.
day, for the purpose of receiving the new
__,181).
plemental charter," but a motion for postpowor,
was carried by a large majority. The (pow'
thus remains still open.
PLYMOUTH, JULY 13. —The Russian Grand NI
Alexis, who arrived here yesterday from Palma* via
Admirals Possiett and Butakoff, to visit the emit
establishments at this port, returned this evesilli °'"
mouth.—Renter's Telegram.
The plans of the new ministry for the WO Ili,
the Royal Academy, National Gallery, and Unirsk_
London will be stated in the House of Commons °BYO"

next.
Madame Rudersdorff is said to be occupied in*/
composition of a grand opera.
M. Auber is writing another three-set
the Opera Comique, to be produced there next Ilesnon.
An American contemporary says :—" Alegi*
to the present rate of immigration into the UsitedOlis".....„
shall have a population of 401 millions in 1870, 70 18°"-_,
in 1890, and 100 millions at the end of the present 8107..
Dining the last 50 years France hex increased MIS
tion 37 per cent., England and Wales 121 per colt'
the United Stake nearly 500 per cent."

LAW INTELLIGENCE.
(THIS DAY.)

EQUITY COURT.
{Before the Lord Chenoellor.)
CORBILTT.-LIJNACY
• • "

This was a petition on lquacy which bad been heard by
the Lords Justices, and their lordships had so much doubt
en the question involved that they decided that the opi-
nion of the Lord Chancellor should be taken. The lunatic
was entitled under her marriage settlement to a life estate
in certain freehold houses in the City of London, with •
power of appointment, which she had never exercised ;
and her only child, a son, had sold his reversionary
interest, and bad since died. A building company having
purchased the land adjacent to this property, were de-
sirous of purchasing tW intenest of the lunatic, and pro-
posed to secure to her a government annuity of 70:11., being
more than 40f. per annum over the income now derived
from the estate. The question arose whether the court
hadjuriedictios to nnotion the sale on those terms.

Hr. Bacon and Mr. Prendergast, for the petition, con-
tended that the 116th section of the Lunacy Regu-
lation Acta, gave a power to the court such as was asked,
as the sale would be manifestly for the benefit of the luna-
tic, and had relation to her future maintenance, which
might be improved at the discretion of the court. As at
the death of the lunatic the estate would revert to the
crown, there were no future interests to be dealt with.

Mr., Wickens, for the crown, offered no objection to any
order which might be made.

Mr. Green and Mr. Everett, for the building company,
supported the petition.
The Lord Chancellor said that it was extremely desirable
that this order could be made if it was within the com-
petency of the court, for it would be for the benefit of the
lunatic ; and as regarded the building company they acted
fairly and liberally, but be was of opinion that he had no
jurisdiction, that the Lunacy Regulation Act gave him no
power to dispoee of the property of a lunatic in the manner
asked, and the petition must be refused. There was, how-
ever, no reason why it should not be commended, and an
order made to effect the object in view under the Settled
Estates Act.

COURT OF PROBATE AND DIVORCE.
(Before the Judge Ordinary.)
DALE V. DALE AND IeDONNELL.

Mr. Serjeent Robinson and Dr. Swabey for the petition ;
Mr. Collier, for the respondent ; Dr. Deane, Q.C., and Dr.
Spinks for the co-resndent.
Mr. Alfred James Dale was a medical officer in the India
service, formed the acquaintance of the respondent while
in this country on sick leave, and in August, 1859, he mar-
ried her. At that time she was about nineteen years of
age, and he about nine years older. They went out
to India and lived happily together till 1862, one
child having been born in the interval. Mrs.
Dale's health soon after began to fail, and she was sent to
the Hills. Here she made the acquaintance of the co-
respondent, Lieut.-Colonel McDonnell, of the 3rd battalion
of the Rifle Brigade. Information at length reachefl.the
husband's ears that Colonel McDonnell was paying too
great attention to the respondent; and letters were lint in
in which the colonel, who was a friend of the petitioner,
earnestly denied the charge. However, the petitioner
sent his wife home to her mother ; but that lady re-
monstrating with her on account of letters which she was
receiving from some gentleman, she left, and evidence was
given to show that she had since cohabited with the co-
respondent, who had in the meantime come to England.
The petitioner claimed 3,0001. as damages.
The jury, however, found for the petitioner damages
4,500/.
Decree nisi, with costa.

COURT OF BANKRUPTCY.
(Before Mr. Commixeioner Goulburn.)
IN RD COBB.

Thebankrupt, late manager to a brewer, applied for his
release from custody. He was detained for costs incurred
in an action brought by him against his late employers for
wages. This was his only debt.
Mr. Bagley opposed the application. The assignees were
not yet chosen.
His Honour said this was not a case in which he should
be in a hurry to interfere. It was a great hardship that
when a party was ordered to pay the costs of bringing or
defending an action, he immediately came to this court.
The law must certainly be altered in this respect, if any.
The application must stand over until after the sitting for
choice.

IN RI DR WEBBEIL-THE TUNBRIDGE WELLS SANITARY
. QUESTION.

The bankrupt in this case was William Webber, operating
surgeon, of Tunbridge-wells. He now applied for him re-
lease from custody. His detaining creditor is Mr.
Charles Trustram, also a surgeont of Tunbridge-wella,
whose debt is 19.1/., who had obtained an award against
the bankrupt in an action for libel, arising out of state-
ments made by the bankrupt in connexion with the sani-
tary condition of Tunbridge-wells, and in which he charged
Mr. Trustram with making improper use of his poxition as
a member of the Tunbridge Local Board. The debts are
5771., chiefly law costs.
Mr. Reed opposed the application, on the ground that
the execution being in an action for libel, the court had
no jurisdiction to release.

Mr. . Bagley, in support of the application, was prepared
to produce medical evidence to show that the longer de-
tention of the bankrupt it iprison would be dangerous to
his life.

His Honour was opinion that the words of the act were
imperative, "Shall not order the release."
Mr. Bagley said it was extraordinary if the cow: had
not the power to release in a case of life and death. He
had the certificate of Dr. Childs, surgeon to the City
police ; Dr. Holden, of St. Bartholomew 'm Hospital ; Dr.
Copeland, senior censor of the Royal College of Surgeons ;
Dr. IL Cooke, and Dr. Jeaffresoa, of Finsbury-square, who
concurred in stating that longer confinement might en-
danger the bankrupt's life.
His Honour was clear that he had no power to interfere,
and dismissed the application.
Mr. Bagley—lt is a strange proceeding, especially fur
one medical man to take against another.
Mr. Reed—Not at all ;it is • very natural one. The
bankrupt slandered my client and an award was made
against him for 251. and 1681. costs.