The Express.
London, England, 1867-10-24 00:00:00

THE ROYAL BARI OP LIVERPOOL.

A meeting of the shareholders of the Royal Rank
of Liverpool, which suspended payment on Monday, was
held yesterday in the bank premise.. There was a nume-
rous and influential attendance of shareholders, and lithe
prooeedinp passed off with unanimity, and without any
scenes" or angry disctusion, and were consequently
much briefer than had been anticipated.
Mr. J. B. BRANCILER was called to the chair, and after a
few formal remark. he called upon Mr. H. W. Banner,
who could perhaps, be said, give the meeting some idea of
the present position of the bank's affain.
Mr. BANNER said he appeared before the meeting both as
an accountant and as a shareholder. He had been called
in on Monday to look over the books, and from that hue,
vied examination he had been enabled to form some idea of
their position. Mr. Banner then gave s statement of the
affairs of the bank, compiled by the officials of the bank, of
which the following are the main points :

Depoidts on credit accolinGr ----
L 1.200,000
BilL bearing the endorsement of the bank,
estimated to come back

Total to be provided for
The bank estimated their losses at about 770,0001., against
which there would be capital, reserve fund, and undivided
profits, 820,000/. Assuming these to balance each other,
the meets ought to be equal to the liabilities, or 1,650,000/.
Mr. Banner guarded himself, however, by stating that the
time had not allowed him to investigate the affairs of the
bank, and it would require at least a fortnight to have the
necessary valuations made for arriving at an accurate
rendt. Mr. Banner, in conclusion, said that their only
course was to look their affairs boldly in the face, and to
at once arrange to settle with their creditors, who would
doubtless meet them in a friendly and considerate spirit.
As to the causes of the disaster which had so suddenly be-
fallen them, that would be a fair subject for a full and
searching investigation hereafter ; but in the meantime,
I until they were better informed, all angry discussion and
recriminations could do no good, and he would therefore
advise the meeting to keep to the plain duties before
them, viz., the arrangements as to their future proceedings,
The following are the resolutions, which were agreed to
nat. eon.:—" That looking to the Wealth and position of
the shareholders of the bank, and the amount of its sure-
ties, there is no doubt that all its creditors are amply
secured, and will be paid in full, and this meetingexprerses
its readiness to submit to any call which may be found
necessary to meet the claims on the bank with the least
possible inconvenience to the claimants, and resolves that
an immediate call be made, which shall not be ler
than equal to 5!. per share on the original shares."
2. "That a committee of shareholders be appointed with a
view to the speedy realisation of the amen of the bank
and the inspection of its affairs, and that the following
gentlemen constitute such committee :—Messrs. John
Bibby, J. B. Braneker, Harold Littledale, W. Myrtle,
H. W. Banner, Alderman Dover, and John Weightman."
3. "That it is most desirable, having regard to the advan-
tageous realisation of the bank, and of the value of the
, good will of the business, that steps be taken by the cor-
e for the speedy resumption of its business if found
desirable." 4. That for the purpose of carrying out the
above objects steps be at once taken to register the bank
under The Companies Act, 1862,' and to present • petition
to the court for the protection of the assets of the bank,
and the appointment of a provisional liquidator." 5.
"That Mr. H. W. Banner be requested to act as pro-
visional liquidator." 6. " That a committee of shareholders
be requested to have a proper petition prevented to the court."
7. " That to afford time for the careful realisation
of the assets of the bank, and to allow for the resusci-
tation of the bank, and secure the value of its goodwill,
the creditors be requested to accept promissory notes of the
hank for the amount of the debts due to them at 6, 12, 18,
and 24 months, with interest, to be agreed upon between
them and the committee, and with power of Anticipation,
and that the committee be requested to confer with the
principal creditors on the subject.' 8. " That the creditors
be requested to attend a meeting to be appointed by the
committee, to consider these proposals, and, if they see fit,
to appoint a; committee to represent them in the realisa-
tion of the assets."

After the meeting a circular was issued, calling two
meetings of shareholders ; on the 7th of November, for ob.
Mining the shareholders' assent to the registration of the
company in, a limited one, with a view to its being wound
up under the act of 1862, and on the Ilth November, to
pass a resolution that the company cannot, by reason of
its liabilities, continue its business, and that it is advia.
able to wind it up.