The Express.
London, England, 1866-05-15 00:00:00

THE ENGLISH JOINT BTOCE Uzi

A Joint Stock meetingßank, for of the
the purShareholders 000midef the
pose of eelbgb4
via
steps should be taken to enable the bank to reserie. hit
name, wee held at the Baltic Coffee-horse, Threettosi
street, Tanenlay afternoon ; Captain Malcom apiarist
thedense chair. There tram a large atdanee, the rem
pecked.
Thely ATRILIN, in opening the
Pproceedisp, seig thin
had not been time to have the account, AM*"
would be submitted to a future meeting. The
devoted the whole of Saturday to them, and he reightZ
the result was by no means unsatisfactory. To
shareholders in general, a friendly petition bees
rented vtee.assmeeffor Wood, and Mr. Beam heal;
apppointed interim liquidator, to take care of an
and to pay them into the Bank of Peet* saga:
proceeds of all bills that were becoming dee. ht,thftgl4
that was a better course to pursue than that a Was
petition should be lodged. On Thursday afternoon tie
director bad almost concluded a satielsotay smogs,
men :4 but after the failure of the large diamenthersis
they felt if they kept their door open they would htys
had their till drained, and the London depositors yew
have had a better start thanthecountry ones. Thsysuet,
with about 46,000 f. in London, and about 600110Lbty
different branches. Some gentlemen might saLeitgtsis
you stop? He had stated the reason, and be
was an honest one. Their bank mainly depended
the country business, and they could only
their country friends by discounting their bills when the
directors thought them good and safe, and it we is
time of pressure like the present that they came to 61._
not that they bad no bills, but they were of no sae, smi,
did not think they would consider the &MU= bk.
prudent when such a house as Overend, osesse
and Co. bad fallen. As a proof that the ditiefQ
had not run away from a falling house he might state gut
they held one-sixth of the shares of the bank, md, is hi
as he knew, none of them had ever sold • share. ses
shares were bought at • premium. lie had now to let its
opinion of the shareholders present as to the course
ought to be pursued.
At the close of the chairman's remarks • disturbingels
raised at the door by gentlemen who could not isiasdes,
tanoe to the room. _

Mr. Comm proposed the adjournment of the mow
for an hour.
The CHAIRMAN said the directors were not in op*.
that day to give any further information.
Mr. S. Am.rrits submitted that the shareholders INN
not in a position to offer any suggestion' until thin.
count* were before them.
. .

—Thedrisraiisri said the securities were very fore*
but if they were to resume business scone calls with
made. In that event he appealed to shareholder" ems
withdraw their accounts. _

Mr. STRONG thought the manager should stets shin
he approved of the bank stopping.
The CHAIRMAN thought that would not be wise. Es
not know what the manager's views were, bet hid
been present at the deliberations of the directors.
Dr. CHANDLIR referred to a letter written by s poss.
man named Swan, and asked if he was present.
The Climaxed( said the gentleman referred toldt
board at the unanimous request of the directors. Neves
of opinion that if other than shareholders entered iats the
discussion, the proceedings would be too much
Mr. EVANS said it would be utterly in.ipractrombhat
open the bank, and moved that in the opinion of Warta
mg all cash balances at the head office and branchte skald
be forthwith paid into the Bank of England-ins (uts-
JEAN —That is dons)-and all future remittances unwired
to the credit of the English Joint Stock Bank, end thins
committee be appointed by the shareholders, who Aka
have power to negotiate and to dispose of the bank sable
branches, together or separately, as they may decals' he
the interest of all concerned, and to close up and liqddis
the affairs of the bank with the least possible delay, as.
'latent with a prudent regard to the interests of Wilma
holders and creditors. . .

Mr. Dx Plum), who secondad the resolution, mid %alio
resume business would be an utter failure. %god
public confidence the bank could not exist.
The CHAIRMAN asked if they meant to eulude tis
directors, who held a sixth of the whole capital.
Mr. DI PRAED said he had no wish to do so.

Ultimately the resolution was agreed to, and it irsi
agreed to that ;the committee should act in enigma*
with the directors.

The foliow~ng committee was appointed :AB. Ti.,
Bideford; Mr. P. Broad, London ; Mr. S. All Ib.
bridge ; Mr. Butcher, Epsom ; Mr. Marshall,
Mr. J. Maddock., Cherteey ; lir. Boss Mangles, andr.;
Aklerman Abbiss.