The Express.
London, England, 1866-06-08 00:00:00

ties and when the time came that the securities could be
sold at that pries they would 'ell. .

Mr. Lcwia DO Ike, key at take polio., skeet was in one
item, advances on works after allowing for contingencies,
574,3491. What was the amount to be advanced under

that head

Mr. COLEMAN sad no further advances were involved
than he bad dated.

The CRAIMIAN moved—" That it is expedient that the
assets of Messrs. Pete and Betts, and Messrs. Peto, Betts,

•
and Crampton, should be wound up by those parties under

impaction."
Kr. Alderman Roes moonded, and the motion waa

passed unanimously or rather with acclamation.
It was also unanimously resolved that a deed of inspee-

tion containing the usual and proper clauses and provi-
sions, and embracing all the assets of the several members
of those firms, be prepared and submitted to creditors for
execution, and that • letter and license be granted for
one year, with • power to the inspectors to extend it for •
further period if necessary ; that Messrs. Fothergill,

Peter ROlt, and Thomas Fenn be appointed inspectors ;
that it is desirable that the realisation of the assets should

be proceeded with at the earliest possible period, and this g
meeting strongly recommends the creditors to sign their 11
assent to the proposed arrangement without delay.
8,
The CHAIRMAN said the creditors, as far as he Wag
aware, ell of them wished success to Pato, Betts and Co.,
and be could only repeat what he had said on a former oc- g
cazion, that so far as he bad had any transactions with 8
them he had ever found them the soul of honour, and
he believed that ultimately every creditor would be paid s
his debt in full and interest. 8

Alderman Roes moved a vote of sympathy and voila
dence in Messrs. Peto and Betts. Their operations, he
said, had been unprecedented in the history of the world
and this country owed to them more than to any other
persons the great engineering progress which had been
made in this country of late years. He be-
lieved the utmost eonfidenoe might be placed in
their balance-sheet, and there was an universal desire that
they might be restored to the exalted position which they Si
had enjoyed. He believed that that would oome to pass, ri
and very soon. (Cheers.) He moved that the confidence 11
and sympathy of this meeting be expressed to Messrs. Pete
and Betts under their present circumstances. 8
Mr. S.GLYS, 31. P., seconded, and the motion was carried
with acclamation.
Sir M. Piro then rose, and was greeted with loud SI
cheers. He seemed much affected. He said—l am sure, Si
gentlemen, you will feel that in expressing my thanks on 2
behalf of myself and my partner on the present occasion, :
that we shall best show the gratitude we feel for the con- g
' fidence and sympathyand kindness which have been shown
to us by realising as rapidly as possible these assets s
and paying off the full amount of your claims, 11
with interest, than by anything else we can 11
do. At the same time I think it proper to say that on the
occasion of this severe trial we had the offer from personal
friends of assistance exceeding half a million sterling, but si
we felt this that we could meet our own misfortune with a 81
large surplus, as yon see to-day by the balanoe-sheet which has :
been presented to you, but that we could not face the fact 21
of the risk that we should run of bringing down tried and
attached friends. (Hear, hear.) I may say, on the 81
part of my partner and myself, that this 11,
balance-sheet is not only prepared, as Mr. Cole-
man said, in the most unfavourable aspect to us, in
which it could be, but it represents a depredation from the
value of the securities at the commencement of the year to
the amount of between 500,0001. and 600,000/. I believe
we shall be able, by the kind assistance of those friends who
have so kindly undertaken to fill the office of inspectors to
realise rapidly, and you may rest assured that neither Mr.
Betts nor myself will know, either peace of mind or
comfort till that is achieved. (Loud cheers.) I thank you
for the kindness and sympathy you have shown me.
(Renewed cheers.)
A vote of thanks was then given to the chairman and
the meeting separated.