The Express.
London, England, 1859-07-04 00:00:00

LINZ OF LONDON'.

The Muter of the Rolls gave judgment on
Thno,day is the impartont t "The Bulk of L -don
v. 'Tyrrell." The facts stand thus . —Prior to the formation
of the busk, certain persona had entered into a provisional
agreement for the punkin° of the property then kaown se
the Hall of Commerce, in Threadonole.iitrea, for the suns
of 50,000/. On the formation of the bank the property wu
offered to the directors at • preposterous advance arca this
emu, but, after some haegelalag, the bank avoid to take it
at 'i.e price of 63,00 W., upon the recoramendation of Mr.
Tiromhy Tyrrell, then oceiritor to the book. de It came
enL•equnitly to the kaowledge of the directors that Mr.
Ty r rell hd previosely acquired ajoint interest is the
o osj unction wit b • Mr. Iteadonto was the osteneihrellreer,
they at once, with a very commendable spirit, Sled a
Lill againet their eolloike, who, es their legal edviser, had
obviously no right to road say profit oot of the troneactiou.
The 51eattr of the Rolls ordera hlr. Tyrre'l t ao...ount to the
bank " forall themonq he hadroceived inotanenou withthe
Flail of Commereeuverand above that which he could legally
charge sa their solicitor." Thi. &dolma applies of course to
Mr. ly reties share of the 13,0001. which firnie the difference
between the son paid sad that received by Ike ostmatbie
renter of the property. In addition, Sir John Romilly
INISNADCINI hie readiness, should the hank so eemand, to
order Mr. Tyrrell to amigo to the eotabliaborent a certain
pies of Wolin the booltrithe " Hell," included in the original
sale, but not to the subsequent ne-sale to the bask.
ROLLS COURT, CHANCINY-LANS, Joss 30.
(Before the Neater of the Rolle.)
INI DANE or LONDON C. TTRNILL,

The *lSi; iatriSeassrept-essat t he(lZia London,
•^_d rought to obtain data the defsedetat, Mr. Timothy
TyrreU (late of the arm of Tyrrell, Palau ad Lsytm, the
ea/titan to that beak whom it was formed In 1863), an
so-
count of uvula sums of mosey received by him uader the
following circumstances. —On or before the 6th day of
February, 1865, en usderstandiag was arrived at Stems •
Mr. Stott mid Mr. Tyrrell, that Ms. Scott should do Ida bast
to get Mr. Tyrrell's Inn appointed solicitors. to the Landes
Baal, then in the tourer of formation, and the. Tyrrell
should use all his *Slums to get Soatt appointed MI ewe-
tars so ths beak. Oe the same sth of February Kr. Tyrrell
had ea interview with • Mr. Hods on lived, who wee la
September, 1864, one of the equitable purchasers of the Hall
of Commerce sad its appurtenances.. in Threadnredliestreet,
for 49,0001., from a Mrs. Campbell, only 1.0001. of such
sum been then paid to the vendor, and ths remainder
steadies over trader cert.its roucliti.•ne. On the (Moving
day tra , the 6th of February, 18.55), Mr. Reed made •
promml to his co-parcheasre to boy up their Stewart In lbs
t made with Ms. Campbell, sad on the 7th of
rt.7rtitiery Mr. Reed "groat to pay them 1,91/01.. tar each
interest. Oa the Ilth of Phiremy as vmderotamlbg woo
..ttirod at totems Mt. Tynan aid Mr. Rad, by which
they ware be le Meetly laimestel in the Hall of Commerce
and its opmmismaess. Os the 9th of ratvary Mr. Road
wri,tr to.lr. Tyrrell as hollows
' •• Deir Sir,—ls reply to your favour of this ate. I beg to
inform yea the trios WWI lot the Hall of Commerce, with
the ftmeroliisn which it steads, is 110,0001., as amount,
11 I wit M informed, refused by the end proprietor,
who soli
who to his price of 120,0001 The mi-
kade knishl plot, upon which Ss Imperial Fire and Idle
Amman 01Mes are maids, and completes • toperticisl
area el cagy ale* ime-tand that upon which the buildiog
is qualm Meade rarlimi sake.% ma I am informed,
n,ouor.; w that M Is reameebte to infer the groom! upon
' which the Rah of Commies meads to worth 98,00.4.,
• henna eel" 14,0001 for the belie& which is substaatial
sad fire-proof, sad emoted at the elm, It I am sot tabled, of
Steers 00,0001 sad 70,0001. An early reply will oblMe,
faithillly yourS "EDWARD Kt D‘TON RRen,
Timothy Tyrrell, Req."
la reply to the said letter the defendant Timothy Tyrrell,
em the ram day, wrote to the defendant Edward Rudetoa
Rood the following letter
•• Des Sir,— I have received your favour of able date,
with your air ef the Hall of Commerce at 110,0001. As 1
eaaaot ccomelt the parte* until mans days have eloped, may
1 ormelar the olhe apes tor • fortnight t Bea goad as to
writs era ea eratme:

thie—
'fair riot deferifeat Yd ward Rudaton
Lied wrens ne the defandsat Tuaollay Tyrrell the following
age

"Feb. 10, 186.5.
DOM eir,—Belot In no hurry to dieTose of du Ball of
CONIAMMOS, 1 WWI hors zottc4 plow/are la sc:dim to your
segotot, sad shall cosoultr ;Oa offer open to you Ult du 40th
bostast lochtoive."

Tres gam of 1.10,0001. mentioned in the above letters being
reseddered a Largo, sum than the director, et the LllOOl2
Book (the fleet botch of whom appeared to have met on the
13th of February, 1865) wiebed tv pey, an egreseesut wee
rebutonmetly made between tea Bank and Mr. Reed, under
which the beak screed to pitrehlee toe 1141 of Commove
(trier only part of the property mold liy Mrs. Campbell for
19,00 e ,) tor the sue of 6.-r,0001., and out of this !Um MIS.
Catui wasduly paid the 48,0001. remaining due to her
user the deed of September, 18it, and 16,000'. wee lauteted
In Exchequer BR. is tram for Mr. Read on his emplaces
bin thee, the Bank of London all this Rabe knowing
bothhig of the agreemest between Mr. Tyrrell and
Mr. Read, under which th y were eetiag as pirtiet-
rCa the 'advantage.' supposed to be solely veered in
ed. In D.esueber, I`r ii, Mr. Reed's to-putehaaere
from Mrs. Campbell, under the deed of September, 1861,
conceiving themeelvee ill-used by Mr. Read, lied a bill
epeeist biro on the grouted of unseepeeerstatios, or rather
withholding 13 information on the occasion of Mr.
Reed'. purcheeing their share., and that suit wee comproe
mint by Mr. Read peeing the plaintiff. in it the sum of
I,ovo/. on their subeimolating Read's title, so that he
could obtain the 16,0001. Invested in Fachequer Bills, as
above mentioned. la Novesher, 1866, attain other parties
interested is the shares which Mr. Read had bought la Feb.,
1816, Med • further bill sounat Mr. Reed to compel deck.
cures ea ho tomb trensictious, and it wee dueler the progress
' of that cut, known u'• Ley v. Read,- that the defendant
Tynell, in his execeinvtion before Mr. On r, on the 27th of
April, 1867, admitted his interest in the Hal of Commerce,
and Lis having received, or being entitled to nreive about
6,0001. es hi. re of the ourchices-mosey. Under these
eimumetences, end loins ipelly from the Lot of the directors
of the Loudon Bank Itev mg on such last-meotioned day been
made aware for the fleet time of the defendant Tyrtelfs
Went in the Hall of Commence, the purchase of watch he
bad been employed by the bank to negotiate, the directors
thoaolit it their duty to institute theca pteeeedinge spieet
Mr. Tyrrell, and to claim from him, on the plea of his being I
their agent (ea end so standing in a fiduciary
Maine to them am hie employers, en account of the mosey
he had received or might be entitled to receive, in respect
to the Hall of Commerce sad other property, se porch cited
(no.. Mrs. Campbell. To all of the allegation, above set
forth the defendant Tyrrell denied the fact of his having
penchant his interest ia the Hell of Commerce while soling
a. ageat for, or in any fiduciary teatime to, the Beak of
London, and contended that hie troovactious wish Mr. Reed
were led ctly independent of say troneectiote of that beak,
no.: ouch as the directors had no light to interfere with or
complain of. The defendant'a conntel also contended that the
oohs laid by the plaistilfs fur the Hall of Commerce wee
for lion excessive; that the beikliog wai of mute value to
them now thee it woe even when they [ought it; sal that
Y the must were to grant the prayer of the plaintefe 1011, it
would be defog the defendant. a rest inj twee., and vowing
theplainids degree of liVes femme to "e, it they had no
, clams %Lou ter.

Sir Hugh Cairns, Mr. R. Mr. F.Pett, Kr. 841.
win, Mr. Martindale, Mr. Speed, Palmer,nd Mr. hi'Negltha ap-
peared in the tug
in, Mister of Ibt Roltt, in delivering jment, said
that material facts of the cue ea nadiepated by tither
mile, to;ght be stated u follows :—ln the year 1356 a lady
net •d Campbell, being coos tgagos of a reliable piece of
tams to the city of London, os pert of which the Hall of
tAumercer ahmd, foreclosed her mortgage, owing to the
ecortgege looney not being repaid to her as marl. In esp.
Water of the some year /dm. Campbell agreed to sell this
plies of lead to Mr. Retires Read and same other pm.
seas for the MI of 49,0001., 1,0001. of this sum only Min
psid duns, sad the rtmethler being allowed to stand our
until the math of Sept.-other, 18.5.5. In the mor.th el
Juttary, 1856, a Mr. Scott end the defendant, Mr. Timothy
Tyson!', were cosh toplatir g the (isolation of the Beek
a Loudon, of shah Mr. ;Scott wait to le serr.tar, mud
Mr. 1 wren the aolici•or. Ms the 19th of Jtusary,
Ste Jean Shelley cremated to become el:ilman of theses.
template! bank, sad on the 13th of February f Hew*:
the ant manesof the directors took place, et wields Mr.
&.ett and Mr. Tyrrell were tech formally espeledel to the
came they deetted. About a week Miele this 6m needed
of the t. ninny on the 13th of Prbroary. Mr. hadetes
Read, above mentioned, sad Mr. Tyrrell, had es Isterefew,
the melt of whirl% was that Mr. Read reestemed Me to.
perehetwe'• Jane in the agreement with Mw. Cesephell
about the Hell of Commerce, tr., for 1,10014 end me ewer
road wee drew. up (on the Bth of Febessey, Ia t NM
executed till the 10th of March) between Mr. 11,...d sad Mr.
Tyrnq under which it was covenant,d that they were be
be conjointly Interested in the p oprrty is "meow As
this agreement was snivel into us the Bth of February, Mr.
Read wrote to Mr. Tyrrell os the 9th, stating that the price
ef tea Hell of Concurs was 110,010e1., to which Irma Mr.
Tyrrell wreeefut answer, seeing for time to seethe •• puttee"
awl to Mee the offer kept open fora fortnight. On the 10th
of the mouth of March following, Mr. Terrell haring is the
ineullast (that le, MMus the 9th of February sad the 70th
a March) teen appointed sdicitor to the Rank of Leaden,
sad formally esecsted hie egresassat with Mr. Reed re to
their j,ist Interest in the Hall of Commerce, de, wee
&puled by his &rums to negotiate with Mr. Reed
show the percher of oat Hall of Gamesome, sad in May es
saneness was strived at betweta the directors and Mr.
Itend tor the purchase of the hall foe 64500/ , the formal
truster of this buddies to the London Bonk befog made on
the 11th d August, 1655, so/ Of,. Tyrrell being
Lola Lis segotiatioss with Mr. Read to about B,OUBI. oat of
the port hue mosey. Up to this tint, no us connected
with the Loathe Desk knew of Mr. Tyrrell's amoriation
with Mr. Reed In the owsevehip of the Hall of Counrea,
sal the we, in which each • knowledge wee evesserds,
brotlikt about wee by the liketefeli of Mr. Reed's lierwor
proprietors eapnsied Medi by two Puha Y Chiserey
against that parson—the MO of which wee peemin
for 40001., +t he whew he 1101. sad weds.esse Is he
latter snit it hypo. that Mr. Tyrrdl was suenleed
Mhos Mr. Otter, and the whale el the helm ming
the rehrioasel hawses Mr. Mead wed Mr. T_ytni
In tie Mon el Genes lesperty were MieNst Mader
these elesowsledess the. oeset _ soeM_ met do ohm-

win Asa Mid lbw do jumbo of else ems would bs
Mtn Mr. Tyrrell tervusliest to Moo tees ere•
lei eeel ktt siapsey. la this obareara of new

Mr. Reed evidently addressed the betimes lettere to Mr.
Tyrrell absat the rushee, of the Hall of Commerce, and
this character Mr. Tyrrell had himself adopted, not only
when duly appointed solicitor to the company, but even
before its actual formation. Mr. Tyrrell's liability se greet
to the company must be talon to date from January, 1856,
when the first *barge in his bill of costa for 20 name la
entered for " advising, fee.; " and inasmuch as ell the secret
transactions between Mr. Read sad Mr. Tyrrell relative
to the Hall of Commerce were entered apes subsequently
to that date, the bandit of nogg trammeting mast result to
the company as having bees effected by Mr. Tyrrell as
their agent. Tim case at "the Luxembourg Railway Com-
pany v. Maguey," added by this court some time
mince, had ben lembeill upon as favourable to
the defendant in the present case, Inasmuch is in
that cam the inn did not give the directors cf
that runny the relief prayed in rapped to pro-
perty which they were induced by their chairman to pur-
chase without nano( that the chairmen was arf -
sonally interested k er,
the T, property be mu
them to bay. But there was this matarlal di o be-
tween the aim In the " Luxembeint Railway v. Mammy"
the defendant wee owner of the lesperty sold to the COM-
pony before be vas charms el the company, and the
company selsennaniute the dimmer, of the deception
put upon them had cold the greperty le a third party for
a valuable consideration. Dot tb mment case is *MAW

to one where an spent, knowing, perMpea on aocenat of
his vary character of agent, the pecuNer wants of hie prin-
cipals, gees and purchases a peoperty, end rawly emir
on negotistion with third parties to make an extra profit
out of the wants of his principals, of which be bad
become so advised. It was mid that the property sold
to the Bank of London by the defendants Bald and
Tyrrell wee quite worth the sum given for it, and this might
be se. Whether It were so or not was quite homemadel to
the question as to what was to be done with profits made
by the spat of the plaintiff. durtag a tranaection in which
be wee—et first by virtue of hie office, and subsequently by
direct appointment and positive Metructiona—deputed to act
foe them is the purchase of property of which he wee
himself a latent part °weer. Upon all the facts of the cam
the court could come to no other decision than that the share
of the purchase-wont y received by Mr. Tynall. over end
above the expenses paid by him, must be treated as money
received by him aa agent for the plaintiffs, the Bank of Lou-
den; and that the remainder of lir. Tyrrelre Mama Wider
the original purchase from Mrs. Campbell moat also be sub-
jected to be similarly accounted for by Mr. Tyrrell to the
Bank, unless the plaintiffs thought fit to disdain may in-
terest in the properly beyond the Hall of Commerce and the
ground whereon it stood, ea Included in the purchase by the
plaintiffs from the (nominally) ego owner, lir. Read. The
coats must follow the avant.