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

mr. West, from the office of Messrs. Sheen, prosecuted
en behalf of the Sooiety for the Protection of Weems and
Children ; Mr. Louis Lewis appeared for Smith ; and Mr.
woman., jars., for Wattery • and tifr. Levy, from the office
of the society, was in attendance.
one awe against the prisoners, it may be remarked, was
takes lest week.
Mr. West said be was prepared to go into a second care.
Mr. Lewis said he was instructed by Miss Barnes, of the
glue poets, Haymarket, to state that the young woman
shim, who gave (Oldence last week, never lived at her
house, and therefore the statement she made, that she le3
after two nights, was incorrect, and was calculated to do
bees (Miss Barnes) some injury.
Mr. West said it appeared there were two houses in the
Haymarket, the Blue Poeta and the Grapes , each kept by
a poison of the name of Barnes. He had spoken to the
young woman, and she bad informed him that it was the
Drapes that she went to, and not the Blue Poets.
Mr. Lewis then addressed the magistrate at some length
on behalf of Smith, raising some legal objections to the
evidence.
Mr. Wontner, on the part of Wattery, said that he
only filled a subordinate position at the office ; that
athoughcalledthe secretary he was only paid as a clerk 15e.
a week and • small per outage; and that as moon as possible
after he found out the nature of the business he left, he
being chiefly led to take this step through Smith request-
im him to take an office in the City, and to employ his
(battery s) own wife to go to Norwood and to write letters,
pretending she wanted servants. Before Wattery could be
convicted on the present charge, it must be shown that he
was acting fraudulently with Smith.
Mr. Knox maid the C 844 was one of so much import-
ance, that he should like the opinion of a judge to be
taken on the point robed by Mr. Lewis. Ale considered
an abominable system of fraud had been practised towards
a number of young women.
Mr. West said he was prepared to go into another
ClllO.
Marian Shaw, of 28, Gough-street, Gray's-inn-road,
then gave evidence to the effect that she went to the
Cavendish Institution on the 3rd March, and paid
Smith 5e., telling him that she had seen an
advertisement for a companion to an elderly
lady. Smith took the money, and gave her a leceipt
for it. He then gave her an address, " Madame
Duquemoy, St. Omer, France." She wrote to the address,
but got no anwer. She went to the institution again on
the Bth March, and saw the prisoner. She told Smith she
had received no answer. He mired her if she had ad-
dressed and stamped the letter correctly, and she said
she had. He then gave her an address at Barnes's,
" the Grapes, Haymarket," where she stayed only two
eighth She then went to the institution again.
Mr. Lewis asked whether the case could go on after that,
as they actually got the young woman a situation.
Mr. Knox said the evidence certainly was very weak, and
as he understood that Mr. West wished for a remand, he
should grant it, his object being to obtain the judgment of
a superior court, as to whether persons could carry on such a
system of fraud as had been pursued in the present case
with impunity.
The prisoners were then remanded, Smith in NY. bail and
Wattery in 301.
The prisoner Wattery is said to be respectably connected.

SOUTHWARK.
CRAWL AGAINgT A WATCHMAKER.

Joseph Hermosa, a watchmaker, of Snow's-fields, Ber-
mondsey, was brought before Mr. Burcham, on a warrant.
by Burch, 237 M, charged with fraudulently disposing of
watches entrusted to him to repair.
James klea.cock, barman at the Queen's Head public-
holm, Bermondsey-street, said that a month ago he took
2, valuable silver lever watch to the prisoner's shop to be
repaired, and he promised to let him have it in perfect
order at the end of three days. Witness, however, did not
cell on him until a week had passed, when the prisoner
said he was very sorry it was not finished, but he
should have it in three days. He called again and could
riot get it, and at last the prisoner absconded. Witness
accordingly applied to the court for a warrant, when he
ascertained that the prisoner had pledged his watch with
several others belonging to various customers.
The prisoner here said that he would return the watch
to the prosecutor in a few days. Unfortunately he was
overtaken with trouble at the time, but the watch was

retaired
urch said that such was not the ease. The prisoner
pledged the watch ss soon as he received it from the
prosecutor.
The magistrate asked if there were any other persons
in court who had entrusted watches to him.
Burch replied in the negative. He, however, found in
the prisoner's lodgings a number of pawnbrokers' dupli-
cates relative to other watches, and if a remand was
granted he should be able, no doubt, to bring forward se-
veral other cases.
The prisoner said those duplicates related to his own
property, and not to any customers'. He trusted that the
prosecutor would not preis this charge, as he would get
his watch immediately.
The magistrate remanded the case until Thursday next.

PETO, BETTS, AND COMPANY.-( THIS DAY.)

A meeting of the creditors of this firm was held
at the London Tavern this day, and was numerously
attended.

On the motion of Mr. Alderman Rolle, Mr. Jackson was
called to the chair.

The follow ing statement was circulated in the room :
STATEMENT OF THE An" MS OP HUH U. PETO AND

BETTI3--MAY IC.I, 1866.

" Dr.: To creditors unsecured, 258,9481. 18s. 6d. ' • to
creditors bolding security (partly covered) amount of
claims, 15,0001. ; estimated value of security held,
14,9971. 106.-21. 10/. ; to creditors holding security (fully
covered) amount of claims, 370,9001. 3s. ; estimated value
of security, 509,1041. ; surplus contra, 132,2031. 17s. ;
farther creditors fully covered claims, 119,0001. ; estimated
value of security, 136,576/. ; surplus deducted from liabili-
ties below, 17,576/. ; to liabilities on account of James
McHenry, not covered by any security from him, 227,000/, ;
less, securities deposited by I'eto and Bette, 300001. ; sur-
plus from creditors holdini security who also hold
some of these liabilities 1 ,57tW.-47,576/.-179,4241. ;
to liabilities on account of James McHenry covered by
Atlantic and Great Western Bonds and Debentures,
104,000/. ; to liabilities ou bills to be provided for by other
parties, 83,000/. ; to liabilities on bills receivable, h 3,450/.
le. Bd.; total, 438,375/. Bs. 6d.

"By cash at bankers, 7,744/. 151. 11d. ; by debtors,
7,750/. 7s. 2d. ; by securities in band, 66,781/. ; by plant,
WOO/. ; by surplus from creditors holding security per
antra, 132,203/. 17s. Deferred assets, viz.:—Advances
es works after allowing for contingencies, 574,349/. Is. ;
debt due from James McHenry after charging him with
227,0U01. per contra, 293,867/. 4s. 7d.; balance of advances
in respect of works which are being carried out by other
parties, 181,300/. ; sundry assets, 153,268/. Ss. 2d. ; inte-
rest in freehold and leasehold properties, 88,0001. ; total,
1,562,064/. 13s. 10d."

The CHAIRMAN said he scarcely expected to have been
called to the chair, as he was not personally a creditor,
but be was chairman of the committee of the Imperial
Credit and Mercantile. He had had to do with many
affairs of this kind, ant his experience was that it was
always best to leave the parties to work out their own
salvation. The firm of Peto, Betts, and Co., had exe
euted works in every part of the world, and had never
failed, and they were the best to carry on the liquidation
of their own afttirs. As choinnan of the committee of
the Imperial Credit and Mercantile, he was glad
to hear from Mr. Young that the advances
of the company to Peto and Betts were covered by securi-
ties to the value of a quarter of a million over and above
the amount of the advance. With regard to the future,
forbearance was the order of the day. There could be no
good in taking proceedings—(hear,hear)—for if creditors did
take proceedings the Imperial Mercantile Credit must do
so also, and that would sweep away a quarter of a million
of securities. But there was no necessity for taking any
such course—(hear, hear)—as by a little forbearance
there was no doubt that every creditor would be paid in
full
_Mr. COLEMAN, accountant, stated that Messrs. Peto,

Betts, and Co., were engaged on contracts in England,
with other parties—Messrs. Kelk and Lucas and Messrs.
Waring Brothers—who had undertaken the performance of
the remaining works, and there would be a large surplus
to Come to the estate from the profits of these works. The
only work to be finished in England involved a
sum of not more than 25,000/., for which Messrs.
Pete and Betts would be liable. Then there
were the waterworks at Algiers, for which 5,000/.
would be required, and some works at Cagliari, which
remained to be finished. There were other works in
connexion with another firm, but the securities held
against them were quite sufficient to cover them. As the
meeting would observe there was a large contingent
interest to Messrs. Peto and Betts, to the amount of
alumni* of a million, but as it was their intention not
only to pay the debts in full, but interest, the surplus
would of course be somewhat diminished. Om the
Part of Messrs. Peto and Betts he should
sot shrink from going into particulars; but as
there were other parties concerned it might
be dangerous to do so. (Hear, hear.) With regard to the
debt due from Messrs. McHenry and Co., the securities
%Phut the debt, depreciated as they were, were
to the value of more than three times the
amount of the debt. He felt, and trusted that
the creditors felt, that these gentlemen had done nothing
to abate the confidence that had been felt in
theT,Tand he was satisfied that if the ship was left in
then hands they would bring it safe to port. (Cheers.)
If they were to wait they would have a much larger
surplus, but they had fixed a price for the various recuri-