The Express.
London, England, 1856-10-07 00:00:00

THB ROYAL BRITISH BANK.

Last night a meeting of the depositors in the
Royal British Bank was held at St. Martin's hall, for the
parpoae of receiving the report of the committee appointed
on Friday, the 6th of September. Mr. J. WYLD was is
the chair.

The Citothmote said that circumstances had arisen since
the last meeting which had induced the committee. to think
it desirable to °all the depositors together, to lay before
them a statement of their past transactions, and to take
their Mitsui:does as to their future conduct. He read the
report, of which this is an atytrvt:
Since the last meeting of the depositors, the chairman and
Mr. Taylor, deputed by the committee, had waited upon
Mr. Coleman, who prepared the stotemest of the
accounts of the bank, and who, before the appointment
of the latent& manager, kiedly gave them testy
information in his power, and he stolid that he was
assured of an available dividend to the depositors of 12s. in
a short period, and that he was prepared to carry out an
amegentsot fora composition with the creditors, if they
approved of it. Os Friday the chairman had an interview
with Mr. Harding, who had been appointed the interim
manager, and who told the chairman that he intended to
conduct the affairs of the Royal British Beek without re-
fennel, to the interests of the solicitors; and as an
of hie inteetiocs, he had issued forms for the proof of the
debts of the depositors ;and that, according to his powers
under the act, he intended himself to carry the proof.
before the judge, and that he would thereby saes the estits
the espenses of the attorney's charges, which he estimated
would, under the former practise of windier-up joictotock
companies, bare amounted to 6,0001. or 7.0001. ; that he
kind the elsims against the bank to be 6,000 in somber;
that he proposed to commence taking the proofs of
debts at the Stilted branch on the Bth October neat,
sad as he estimated that he could not receive more than
300 &afros on each day, it would be the sad of this month
before the proofs of the deposit creditors' skims would
be completed; that dories the same time In 'lnsist be
reputes to carry before the Vice.Chaneellor a list of the
contributors, according to the fltswp-once list, but tha'
with all despatch be could not declare • dividend before the
end of the year; that, with the information at that tins
before bits, he could not declare a dividend of mote than 6s.
is the pound at the end of the year 1866; and that his im-
pression was that the whole sffsirs of the bank, under the
ordinary course, could not be wound up under two years,
but that he was prepared to obtain advances es the 10011 -
Titles of the bank, end that if the depositors would accept,
a composition of 16'. is the proud be would pay a dividend
of 6e. in the pound in the month of December, 1856, and
ism* promissory notes under the authority of the Court of
Chancery for the payment of b.. is the pound at the end of
sin months, and 61. in the pound at the end of twelve
months. The commit ire regretted to sey that so
proposition for en amicable arrangessi.t had yet
bees made to them either by the directors or
by soy large body of the shareholder, but that
delays ltad been occasioned, and according to primes%
appearances no progress would be made till after the ap-
pointmeot of the cMcial manager on the 13th of October.
They called upon the depositors to appeal to the Vim-
Chat:tutor for an 'guilty of representation with the there•
holders before tee judge, which they urg.d upon the
groucd that the winding-up of an ordinary joint stock com-
pany diger, in all its elements from the proposed winding-up
of toe Royal British Bank, se t only from the turpitude of
the tranuctions to be dealt with, bur also from the different
position of the del °lit creditors of tee hank to the ordinary
trading creditors of joint-stock coos: anise. In the Menace
of so ordinary joint-stick mutiny the cth liter has not
entrusted the compact' with his whole capitol, and has Daly
credited the company with a small amount compared With
his property; but as the operstion of the bank was carried
on in the district. of Limbed, Borough, Islicgtrr, and
Whitschapel, and not before entject to ranking operdions,
the deposit eredites of the British Beek, in a majority of
hideous, have entrusted the Royal Britia'r Bark with
their who!, capital, and ars reduced to ruin and d.rititutioa.
Is conclusion, the onnesittes said th, interim manger has
issued forms in which he asks the depositors if they will
ei
cent a cornrosition. It is for them to determine if they
will await the realisation of the funds Deanery for their
full repayment; cr, if it be possible, that as orrangemeat be
made by which they will accept a composition for thin
debts.

The CHAIRMAN obeerved that he had received a number
of eatraymoos lettere, threateaing them that if they did sot
accept anything they could get, they would get nothing.
But they would not te intimidated by soon means from
takirg the course they had dear ined. Lit the depositors
cossider will whether they would eceept s oomposltion or
not. At a late meeting It wee mated that the emits of the
bank amoonted to 268,6481. 8,. 114., that the liabilities
amounted to 539,3001., that 288,6481 being exclusive of the
Welsh Ccal Works, upon which 1,0001. had been exploded
Amongst the sharehohlers were men, individosis of large
property who could afford to pay either 501. or 801. spurs
each share.

Mr. CoLuxor; then addreued the meeting, and mid gist
if they did not merle lb.'', tams, and went on to obtain
the full animist of their deposits, the shareholders would
contest their liability. He would advise them to reflect on
the evegeetion belied made, fcr the ands did not show
mote than 12.. in the pond independently of the liabili-
ties. They were to Chancery, and without the judpe'e
emotion they could not get cut of it. it be was appoieted
es official manager, he would do all in his power to stet ss
Imp a dividend as possible. (Cries of We will have all
or soar.")
A Dtrosyrox wished to know If the 70,0007. was included
In the 28.00 W set down es meets?

Mr. COLZICAX sad Mr. Brewit's amount was ineluded
witb many others. He bad gone througb the Dm:lth, sod
believed test tbe whole of the assets Le had sea down ought
to be realised.

I.lr. R. TAYLOR moved a reeolutioa recnnimonding the
appoistment ot Mr. Coleman es oftimel meaorer.
This was seconded by Ur. Kits, and wee carried
unanimously.
A resolution was proposal by Mr. Fiurrcis end seconded
by Mr. lionnisow—" That the committee be empowered
to entertain any proms' fora mineable cAnprom le."
tar. RICHARDSON urged the sccepteacs of a compromise
of 15.. in the pound.
The raolation was tarried ucauitnously, and a tots of
thinks was parsed to tits shaman.

KOSSUTII'S VISIT To 'MANCIIESTEII.—It will be
seen that the illeetriour ex-Cioveradr of Hosiery I. to
deliver three leveret In trat Free-trade Hal:, in the second
week of November neat, on " The Present Stets of Italy,'
and on " The Concordat between Austria and the Pope."
Duriag his r.sidenee in Maochester, he will be the guest of
our resat Wed townsmaa, Alexander Henry, Esq., late M.P.
for South Leoceehire. The affairs of Italy, and the present
state vf the continent in geoeral, have of late deeply tem
pied the attention of U. Koiseth, and his leauree will, we
believe, be amply illestrated by reference to diplomatic
decease's. We saders'and that Adam Black, Eeq., M.P.
for Ediabarsh, has coasanted to take the ettr if at a great
' nacelles of the workmen and mechanics of Edinburgh, to be
held on the 20th of the present month, convened for the
purpose of lisaniar tea epeeist madras to be delivered to
them by U. Hoseetk.-11necAseter Fstuniner and Tholes.
W IiCKS.—WO (Shipping Oinetl4) publish our
monthly treasury of wreolo, from which it appears that
during the mouth of September the number of wrecks re-
ported was 127. Its the month of Jaeoary the member was
263; he Fetweary, 174 ; In klatch. 145; la April, 157 : la
May, 112; le Jane, 84; is Jely, 104 ; end in August, SS—
melded a total laths put alas maths of 1,246.