The Express.
London, England, 1858-02-13 00:00:00

THE EXPRESS, SATURDAY EVENING, FEBRUARY 13, 1858.

=awidth obtained ea unhappy notoriety under the
do Royal Batik Bask.- It wee established by
clutter trout the crows, is the 17th Neumlier, 1849. It
continua to carry on tabulates nidll its dome were closed
on the 3rd &paths', UM, whim proesediege in bank-
ruptcy were taken against the company, and its
▪ re ware now being wound up under the di-
rection of the Court d Chancery. Four only of the
dakmdanta, Redone, ICeseady, Owen, end Cameron, were
among the original ithrecton of the undertaking. When the
beak was projected a prospectus was issued by the defen-
dants annotutcdng that it was their intuition to form
a Joint Stock Beaklag Company, with a capital
of 600,0001., liberty being reserved ta increase that
capital to 1,000,0001. In that pros:•ctus there was a remark-
able purge to which reference would be made dining the
present airy, Mating that it was intended that the
charter of lion should contain, among other pro-
riskier, one to the effect that the concerns of the bank should
be wound up, if at any time it .hold be found that
the lows amounted to one-fourth of the paid-up
espied; sad la every prospectus which was issued, attention
wee called to this particular powers by an asterisk, and
renterla wan annexed of this kind, " it is therefore manifest,
eat the depositors can incur no risk, and that the share-
hiders know that their liability, will not exceed one-
bath of the paid-up stock, Instead of their risk
Whig, as ha almost all other banks, unlimited."
If • clans of that kind were honestly observed there could
be no doubt it would produce a species of limited liability
to the extent mentioned for the protection of the shore-
holders. Greet straw was laid on that clause in all the
prospectuses lathed from time to time in the various
advertisements in the newspapers and in the answers
to personal spplicatione to become connected with the
beak ; and it would be found that when the charter was ob-
Mined, and the deed of constitution executed, this important
clause formed the 71st clues in the deed. Although the com-
pany had immured • duster of incorporation it could not
commence banners not only until the whole of the paid-up
capital wae eubrcribed for, but until mac-half of that capital had
actually Wen paid up. Now it was found very vein utterly im-
practicable to rain the large sum of 240,1100/., the moiety of
the capital of 6000001.,, which was originally to have bees
the capital of the beak, and accordingly the defendants
thought it right to Moen the amount of the
all&lwith which the bank was to start to
0001., thus rendering it neteseary 50,000 t. to be raiirl,
and • ornorial was promoted to the Board of Trade for that
wpm The charter granted genniadon to the company to
me dr grid designation of the Royal British Bank. He
=hat was an unibthanate ronceasion. It was
to render the bank more attractive and imposing.
Bin the dada, was eldisk Mr. Cameron wu appointed
=memerger. with* Wry of 1,2601. fur the first year,
Ike the eseant, 2,101 L ler the third, with a rise in the
added every year atO the aervath, with an allowance for
hshoesit, and with ciomminekin, under an 'grummet,
if • certain amount which was afterwards to be
seantakeed and determined upon the profits of the
eddiihamat. Notwithstaading the reduction of the
=awl ad he see eery mount to be paid up
he Meth meld easamense limitese, persons were very
der in earleg is wlr their areeir, and several of the
Gilead '.we dread to pay, and others desired to
he,. their deposits rehenei Gem if them gave promissory
I she et ether swathes Weed of rob for their animate
Id alarm. The capital r3leenninal hisient, and rendered
ft Impsedble foe the lank to 'pesos waseriginally intended,
in he math of . 17Wsr Oases el/cemeteries a
mod meet wee made to the public, in the nature
of a whisk was issued by the defendants,
addranad particularly to the middle end bum-
bler dime, pointing out to them the great ad-
which would result from their connexion
ulna:lC bank, and stating that the delay in the opening
W been occasioned entirely by the alterations in the
bushed premier., which bad not been completed, and
the public that their steps though slow
would sure ; that they preferred certainty to
speed, and remembered that the oak was at first
but an acorn. Notwithstandingg this attractive address, still
that nocesseryearital renamed The permute of
deposits midi were NM per disme, and also the aW which
wars mods by instahrads hr the purpose of making up the
M. per cent, were paid into the Bank of England. Of course
dinvite were draws apes the fund from time to time
ail ming ethics a very arskkesbie one, which was made to
Ike edam d the bank he 7,0001. ; also one to the dilu-
tion Pee et eil for 0004 allerwarde Increased to 1,1001.), for
Irksome's dews tear Ode of getting the charter. These
ash tillmlalsol- the funds of the bank,
=I: • to red& de asersary capital ter commencing
11111.1111 with, end Is the math of November there was
dill a deficit in the paid-ap capital of 600,0004 of a sum
if 14,5001. The directors then made an arrangement with
Mr. Cameron, the gems' manger. He gave • pro-
missory note for 14,3001., which was the amount of 601.
w share on SO shares which had not been subscribed
ihr, and with that promissory note and other notes which
were held by the bank la raw& of other allotments, the
palhap espied au deficient to the extent of 7,4021, But,
that see the cue, the directors, among whom
wtlitel=inderien, acrid. a which Trade, elating
had
ibbita sow shim; that the necessary capital,
hod he air hest subscribed for, but paid, and
the Winds Orme the authority which was required
hew the lea eselteemeasses business. Upon that au-
ikor the lair emir 17th of November, 1849, um opmsd
sith may peat diannity. At that time the
eandield deb it, were the three
1111 beeps the late esembee for Glasmilhs
Aldus
we der governor dthe bank, sad Mr.
Hadah, ie deady-ekairman. Hada, our Irma the bet
re of he Meseta% ad antinuad so rail the ellease of the
bash Ddlag that pried he Mid the ohms semorrively
eirmarase sad de tity-preencr. Aldan= Kennedy was
en din brat He was also the Ant deputy-
punide. the d al im amity-governor
fat heirey, 1660,1Vgid altled the dreellan, bit be returned
he ft soda h 1854. Owen vas ass el the edging direr
tees; be esallased • dimmer se eil ; he that hat out
lt Ist was re-eletest Paispy, esd
i= berm pre deputy-war el the bunk.
as deetie Meek was pond manager, and he ooCin=
in hid Set ilea down to • grid lured that which was
mired by theherest He now turned to
adiedsildialan.ll.lkewaodsbeemas adirectorin Feb.,
UM, malland de see bayed rho pried embraced by the
hillstarint. Mr. Maksed, who was• bardetse red eta-law
of Mr. Osamu, berme • hirer aAngust, 1113, and con-
tinued to M we see the the el Ihe book. AMA Cooli-
sh @ they sad set ohm theseehte es the pellet eats.
elos bush be had he he sethey. He bed hither
pheded see siendekeed le labs ha Mal, red Merlon
so he es he pa et he.. we. amoral they,
were ate aid ups to Lentos es 7 spialeo.
although some trooradons adasoled with Ide none would
necemerily be obehei hob Kr. Stapleton, who was also
a barrier, end meelter ie Barwick, was the last gentleman
who joined the abeam. He beos a director in
July, Mad, ad miined • director down to the
skipper at he bosh He bet a very active part in its
Oaks, sad dries he War part of its existince he was de-
pelpsomeasr. AIN then the phloem dpeet
arse; mew at din SI put espelesee—ell, be belirred,
ate d wholly sit ebb M war-
tal Its duty 'lda they lad ushrithat es di-
dohthews_ Alpha! spa arm dhelhge
MOW iseeeir.The Hoehn aid smetel
raw hie airmeed whh he ha mil ungiste
al segerhierbsee el the make et he beak ;
alialUemiebete shed' be esq mishap ea the
he d adellbellan tibia they terested, asi by=
mew bunk peseibul le the oh hued sad Hided
del Ore &eh hoe bat The herald thessi
he. bed the phelpl el the chum in the deed of Nth-
beet ; Nom ether lb they aspired that a full and
ago& alneement et is whole dears ef the bank
ahead WWI linftwah ban the shareholders, and that
he Melinda dada only ha paid est of the dear poets of
the eepislatemill eiteuedl and reamed. Another
dame die the wadi` rep of the bask
when Med bed edemsted all ths eorpigr
• neweed and, aid she rarharth of the paid-up
hived thaesilme, dark he the dbactors to p miry, males
they wilily &hied hum the slAsightszatia. lie would saw
scadhe what wee heir and whet hair
men ant. Med it .d he Our wh bribed reposed
in them far eeashi the sensoa of this per gads:tak-
ing? And he. be vela der up an apyrahninks which
had been entaredad with ramped to the nature of the charge
which was intamled Its be Inhered against the defendants.
It would !labia oar lowe various trandotions of the
directors with the had areal to that Is., of
the. were cd aliaithip;lkest, the el seliatzrer
thenotor, but the he sot that they bed la
sub Mom that they had wry
asarisehis dad a due
level le the deb= base bees avoided.e.m That might
be•
wry psi hr rasplant by those who
hol sifted by the mlessahar, but it was not the
pond Id •aloha *pig. The complaint which was
agsaet ediegnalle was, that by imprudent sad
b= hebelak boa state of hop.-
me then, by various
dissentdilarrd are mg mieepesestations,
ads-
shd the eleraeliestheir eeelesere, and the public into
the hid Oh the bank wee in • solid, amble, sad
heelibles ashioe, eh tabbed then dim to
maim delta stake In the to
ea eon-
zed hadelde with the bank Is the lase tub the
dare of many of their hoar. Eh p. Hedger that
mimed into a statement of the various trimaarlds epos
Mae that obarp was &undid. He Warmed Un-
ita le Imes heede—first, the actual Mate and con-
Aka hie which the bank had been brought
IsarlllMeNnellenent and misconduct of the detai-
l* whether at the time of these era and
they were aware of the Mate and posit ion
rtro br maliZahthirdly whether with that knowledge
they Mil hiss and fraudulent isirepessatations
mg fraudulent acts for the pmpmw el
he lens state el thinp, and hi tW nand"
pros.' whits the r...eungdf a charge el am-
tatai==e suer hewed
meesti. agekarremitersedvolart brar-
Its by shuhees hybeeSeiset tsetse. WPM
the had • mmeiderehle
lard
the
aides
of w bed bed natirely lad. Mr.
director bed eihmer lo the carat cd lthrS the whale
of whictrvilk eesights el TOOL, bed bas ta the
ab. ahahsebe w elliellete, eh et fret
to the Usk, had asserts the sleet et Ana nislia
both* tomolbstohl hi thefts eiti bed dill,
ltrit bad elm= to the heat et
abed 3,0004 at *hid MI best torts lleMh se

87,00 W. had been samara In Yr. Cameron, the mini
masget, of which 33,0001. had boss wholly lost. The learned
honing soured Mks a detailed aooount of the
mine ftwi at Cameron, which were kept as wro-
ngs accounts in a bask know' as the " Green Melva'," end
mak a hagthy atatarsat to show that many of the amounts
=dis the half yearly accounts of the tanks as seared
yers last to the knowledge ot the deftedants—wholly
lat. Sir IP. Theaw also gave a history of the trenactinew
oldie beak with n•mos to the minas in Glemorganshire,
and trhkit le said, more than any others, contributed to
halagnis upon themeriven and the shareholders. The bank
advanced largo sums apse the security of these maws.
A clerk at the bank was sent down to the works. The
I advances bl Joss, 1861, by the Link to those works we
I 48,0001., being nearly Um full amount of the paid-up capital
of the bank. Maar*. Dtiralar sod Swift required a further
advance, being unable to pay their workmen, and the beak
consented. If the parties gave them a warrant of
attorney,
for 10,0001. The hank did advance 10,0501. tori
Meows. Duralerr end Swift to pay a composition of as. t3d. in
the pound. The whole amount advanced by the bank in
respect of those works was 65,0001., whereas the whole value
was 23,0001. The works awe thrown on their hands. Ar-
rangaients

, were then made with a Mr. Clarke to carry
on the works, and he resigned hie appointment se
director to enable hint to do so. But Mr. Clarke found he
had tuidertuken a task too strong for hie efforts, and he
again threw the matter on the hands dthe bank. The
result was that on the 3rd of Sept wither, 1868, the balance
sheet showed 129,00 W., and the leas on that was
120,000/. Re thought he was justified in saying that a greet
contributory to the emormons losses of the bank was these
works in Olamorganthire. At the end of 1853, the bank
held bad bills amounting to 28,5011. • doubtful bills,
81,3721. ; and only 18,9241. in grad bills. They
had now to consider whether such • state of
things was known to the directors. He would prove that
tiny hod not only the means of knowledge, but actual know-
ing. of the hopeless state of insolvency in which the bank
was gimod. After the lees of the whole of, and more than
the elide of the subecribed capital, the defendants had not
only santhearidto work the bank, but had decoyed unsuspect-
ing thombolders to their total ruin and destruction. Let him
hie the all* of Mr. Mullins, the f. 'veered solicitor of the
bank, vibe had caredoed 10,0001. on deeds belonging to a Mrs.
Shit 101 l claimed the deeds alter Mr. Mu' lins's
a committee of the directors found
that ha lei no authority to pledge the deeds,
so thzasseent returned at a ices on this trans-
action 1,300/. Mr. Clarke, whose name he had
nmatissini la eaanect-d with the mines, brought an action
the Mak, welch was perfectly groundless. He had
the
when he joined the bank in 1832, he found it
absolutely hisolvent. That might have been the expres-
sion of as angry man, bat it should have been
widensto have aroused their suspicion. Row-
ersier, Mr. Clarke persevered in his action, calculating
and tightly calculating that the directors would be afraid to
go Into court. The result was that the directors agreed to
pay Mr. Clarke 2,0001., and 2671. as costs. Ile would
now direct the attention of the jury to another transaction.
In 1855, Mr. Walton was the governor of the bank, and
he owed it 60,0001. The directors became alarmed,
and required further assistance, and in January Mr.
Walton had written a letter to Mr. Cameron, the general
manager. The learned counsel then read the letter, in
which Mr. Walton said it was essential if the bank were not
to stop payment that the bills of those who owed it money
should be discounted—that if the refusal to discount the bills
were persevered in, he as governor. Mr. Brown, Mr. Cochrane
and four others, meat stop payment, which would bring irre-
trievablo ruin on the bank, and entreating Cameron to con-
sider the fearful exposure and consequences which must ac-
crue lithe bills were not discounted.
Mr. Jamet—Perhaps you will state that the letter was
directed to Mr. Cameron, and marked " private."
Sir F. Theeiger —Yee • which was marked "private," and
fall into the hands of assignor. If any apology be
needed for a breech of confidence, it was that the letter
tended to expose a gross and scandalous fraud. He would
now advert to another most extraordinary transaction. On
the 27th of Much, 1866, the berth had advanced to
Mr. Brown 77,0001., and at a meeting held that
day, Mr. Brown said that the bank had lost •
quarter of their paid-up capital. The directors were in the
power of Mr. Brown, who held it in terror over them that
ha would call a meeting of the shareholders, and thus reveal
the 'date of the 'Ears of the bank to them ; and It wee not
' too much to mums that he used that power to
avert that which Mr. Walton had described as
" the fearful exposure and consequences" in the event
of the bills of the directors not being discounted. The
learned counsel having read a memorandum written by
Alderman Kennedy, requesting a report as to the deficits of
the bank end the habilitiee of the directors, with the view
of proving the defendants' complicity, then mad a
communication addressed to Cameron, by ld'lssod, on Oc-
tober 2, in which he said that since the temporary absence of
the former there had been a I draw on the bank—
that the 57,0001. than in the ank of England was reduced
to 25,0001., that they could not get over the 4th without
" going in again," and that they hoped to get up 26,0001.
for bill., but that would be their last shot, and they had no
hope of meeting their loans due on the 13th
or 14th. He would now turn to the position of the
defendant Stapleton, a barrister, a member of parlismant
and a gentleman of position, who had joined the board in
Jul 1866. He would do the defendant the justice of sap-
that he did not then know the hopeless state of the
His complaint against Mr. Stapleton was that he had
given the authority of his name, and his reputation and
station In society, to septet in the deception pear.
timed on the public by the conduct of his bro.
thee directors. It was clear that before 1866 this de-
fendant hadjoined in the report that Mr. Humphrey Brown's
amount was insufficiently seemed, and some Meths in the
public papers In November, 1865, on the solvency of the
bank, had been brought to the notice of this defend-
ant. On the 22nd of December, nine days before
the date to which the balance-sheet um made up,
which was presented to the shareholders on the Ist et
Feb., 1858, Mr. Humphrey Brown wrote to Mr. Cameron,
In rotates to a resolution which had been passed to realise
his ships, " I AM just in • position of bankruptcy. Have
you ever done this with your previous friends T. though it is
not nine months ago since I assigned securities to you to
cover 95,0001. of the liability of year chairman, Xr.Walton."
He also wrote in the come letter that he bad never entertained
anyfear of a run on the bank, but that questions by shareholden
which might lead te inquiries were the breakers ahead, and
he ended with • statement that he desired to act consistently
with the istmeats of the hank. A lettsr written at a moment
so critical woe vital importance as proving the complicity of
Mr. Hnsagio, Brown. He had now to proofed to the most
impartsok and to bin most painful part of that portion of
the cese. whiesdraid to what he was compelled to mil the
Wee regramodalleme of all the directors. The conduct of the
directors la segramilug, that Instead of the bank being hope-
lessly inielvenk It ens a flourishing concern, and thus indu-
?riatila segue issupties, tax Immesh, become invol-
ves Siasieleibeeleet mehhi old set be introdeeei
tip gis and edowlehmat that It skald
have hem resorted to by patio= la the petition of the de-
lisimateL and with the doer knowledge AIL they
tit irk Bfte an director& H. hsd no doubt that =
In lie Wade of many of the defendant, originally • heirs
In Nag= the important duties which they bad aatheraba
is Ask eharooter al directors. But unhappily they had
sieedell Isisuglies as a means of entrapping the public,
sod AWN, lbws Into • COGIASkaI with the beak—a
nes et sanded which fidelity to the shereholdteo, and In-
legilttnothers, should alike have forbidden. In June, 1861,
Ai mai ot tbe bank were, uhe had said, in • hopdess
dole feetheaey, by mama of the ism it had Nunhood
I=lie aiccondoct of thedirectere. Itscapdtal was looked
fie directors found that the bank could no longer
weed mans the could obtain the means of creating a
sew algid, and of inducing persons to subscribe for the ca-
pital thus meded. They applied, therefore, for • supple-
mental charter kw this new capital, and from an early period
they ocenmensod solicit* persons to become
The OMNI Ma to supply the vital capitalorithout which their
mielense semetto an end ; but that object would be fres-
tested tf m2i.• shares peered in the market, end so ap-
pear at • , amongst the many devices
which the &rooters ratorted to, they employed Mr. Cameron,
their general meow, and Ity. Imam, their solicitor, to
purchase up all res in their program to the =Met.
The leased teatimes was proceeding with the details ea
this branch of tie me when we went to press.

sasaa might be construed into a sanction at what was done.
No man was justified is applying the monies of another with.
old the means of replacing than; but though there wale
meth impritdenee in this cam, band or dishonesty could not
fairly be imputed. The An* charge was founded on
the application of Lady !Wahines 3,9001. Her lady-
ship had requested Cheap& Hall to procure her •
better interest, and authorised him, as a preparatory step, to
have the stock transferred into his name. This was dens in
June, 1849. In the following month Sir Charles signed •
memorandum of its being deposited with Meters. Hall,on in-
terest at 6 per cent; andexactly six months after the bankrupt
wrote to Sir Charles, stating that he bad paid 721.165. 3d. into
Mesers.lioare's bank, am Lady Rushoue g " mortgage interest."
Though this expression was need It could deceive no one ;
for Sir Charles knew that the money had not been so in-
vested. The explanation was that it was merely • form of
expression used to identify the particular 3,00 a ; it might
have been used inadvertently or improvidently. Four
years later there was • written authority from Sir
Charles to this effect I have no objection (as you
requested ii) toyour holding Lady Ragtime' 3,0001. mort-
gage money in your hands, at the earns tete of interest as
before, viz., 5 per cent.' Probably Sir Charles bed forgot-
ten thati he ever gave this authority ; for the bankrupts had
forgotten it until long after the bankruptcy. It was remark-
able that the same erroneous expression, mortgage money,"
was again used. When the bankrupts rendered
their account of Sir Charles in 1866, among the
queries which that remount suggested was the following
one :—" Lady Rushont's money—is it on mortgage I.
—a proof of uncertainty whether the money was so invested
or not. The abort facts were that the bankrupts had them-
selves undertaken to pay the highest obtainable interest, and
that Bir Charles had consented to the money being held by
them on their own personal security; and there was nothing
like fraud or Wee pretenoe in the ease. Nothiag was more
common then for silica= to have money placed In
their heads by one set of clients, which they lent
to another. The practice might not be • good or •
safe one, but it was usual. Sir Charles Roshout himself
had doubtless been a fearful sufferer from his transactions
with Mews. Hall, who were his bankers as well as hie
agents for all kind of business. As they had but one bank-
ing account, of course all their receipts went into that
account. It would be impossible for solicitors in large
practice to open separate amounts for all their
clients; no banker In London weld take such

MONEY MAREET-THIS DAY.

Two o'CLooi.
The funds to-day have advanced about per
cent. Most of the other markets also exhibit an
upward tendency, especially that for English rail-
way shares.

Consols for the 4th of March were first marked
961, and are now quoted 961 to 3. For
money the present quotation is 981. The
Three per Cent. Reduced have been dealt
in at 961 to 3 ; the New Three per Cents.
at 983 to 3; Exchequer Bills, at 335. to 3&,.
prem. ; Exchequer Bonds, 1858, at 1001.; and India
Bonds, at 20s. prem.
Foreign stocks continued to advance. Tartish
Six per Cent.. have risen to lan to 1013. Peruvian
Bonds are decidedly higher; and Spanish, Dutch,
Portuguese, Sardinian, and Russian, are all in de-
mand. We remark as a feature of interest that the
New Deferred Buenos Ayres Three per Cents. are offi-
cially marked 20, being the first transaction recorded
in this stock. Sales are recorded as follows :—Bel-
gian Four-and-a-Half per Cents., at 98 (exchange
25fr.) ; Brazilian Old Five per Ceuta., at 1033;
Buenos Ayres New Deferred Three per Cents.,
at 20 ; Dutch Four per Cent. Certificates,
at 101 and 1003 ; Mexican Bonds, for account (26th
Feb.), at 203 to 201; Peruvian Four-and-a-Half per
Cents., at 811 to 82; ditto for account, at
825 to 821; ditto Three per Cents., at 581
to 58; Portuguese Three per Cents.,lBs3, for account,
at 451; Russian Five per Cents. at 112 ; ditto, Four-
and-a-Half per Cents. at 100; Sardinian, Five per
Cent. at 903 to 901 ; Spanish New Deferred Three per
Cents. for account, at 261 to 283 ; Turkish Six per
Cents., at 101; ditto for account (26th Feb.) at 1003,
1003, and 1001.
At Paris to-day (Saturday), according to Mr.
Renter's telegram, the Three per Cent. Banta
opened at 70 for the account, showing a further
frilling improvement, which is attributed in the
telegram to " an article in the Moniteur."
The Indian and Chinese mails are expected to be
delivered in London on Monday morning.
In the dieconnt marketyesterday afternoon there weal
a sensibly increased demand, but first-class bills were
still freely negotiated at 23 per cent. In exceptional
cases, transactions take place at lower rates. At the
Bank of England also the applications were yesterday
to a fair extent, owing to the reduction in the rate
of discount to 3 per cent.
The amount of gold sent into the Bank yesterday
was 80,0001., making an ascertained total of 88,0001.
since the date of the Bank return (given below).
It is expected that a portion of the 187,5241. in
gold, ex the Northumberland, from Melbourne, will
be taken for the Continent as soon as it comes to
hand.

an account, owing to the trouble which It would occasion.
The Messrs. Hall made no secret of this; Sir Charles had
never been led towppose that a separate account was opened
for him. No doubt the result of ail_ theme transactions left

an enormous balance due to Sir Charlie; but the count of
business between the parties ixeMied acquiescence and mac.
tion on his part. He knew of their large stud farm, up-
wards of 600 acres, part of which had belonged
to the late Mr. Tattersall; he took some interest
in those matters himself; and he must have known that
they were engaged in • speculation full of peril which might
realise
_great profits, or m.4ht result (as it had dose) in great
loss. Thin result was mainly attnbutable to the Russian
war. The bankrupts had not gambled on the Stock Ex-
change ; they had spent the mousy in the most open way
that could be conoeived,—in horses and field sports. The
leaned gentleman then alluded to the charge founded
on the Cownharo mortgage, and contended that the
bankrupts had acted all through under the authority of
Sir Charles. It was in 1854 that the pressure begun, whith
had ended in their break-up, owing to their lug* outlay on
the farm. Throughout Sir Charles had exhibited •
to meet the wants and wishes of the Messrs. Hall. Some
of the letters from Sir Charles, giving authority to tied with
the Cownham mtate, bad not been produced in the chancery
proceedings, in the suit "Rushton v. Turner," bonnie
they had been overlooked. It wu not disputed
that the bankrupts had got money by means
which were not creditable or justifiable, but certainly not by
means of dishonesty or fraud. The transaction with Lord
Northwiok had been improperly imported into the case.
Lord Northwick was not ► creditor, and no one elm mold be
heard in opposition to the certificate. It was true Sir C.
Rushout had reimbursed Lord Northwick the 15,6001.,
but not at the suggestion of the bankrupts. The
transaction was capable of explanation If saoriary.
In 1853 the banitrupts rwnved from Mr. Ben-
bow 10,0001. on account of Sir Charles Ruahout and
others as trustees for Mrs. Grieve. The money was mixed
up with their own mosey, and as it was not repaid at
the time, the application was made in Chancery in
1851, and the result was an execution on the bankrupt's
premises, which they got rid of by borrowing the money.
Consequently, the estate had lad nothing by that transac-
tion, and ne one complained in respect of it. It only proved
that the bankrupts were spending money as fast as they
received it. After this transaction, Sir Charles disclaimed
any intention of acting harshly, and said it was Impossible
for him to prevent the proceedings.
The Conaminsioner—Sir Chilies is hardly aware of what
the Court of Chancery and other courts of justice require
of solicitors. He may take a more lenient view.
Mr. Bagley—That may be. But what la required of
traders in this court when they come up to apply for
their certificates is • very different thing. The
learned gentleman than eefsred to the 20,0001. raised for
Sir Charles on mortgage in 1864, of which some 6,000 i.
or 8,0001. remained in their hands. ss he contended, by the
perstimica of Sir Clarlis. 0 the 50001. received by them for
Sir Charles. in May, 1856, only 3851. bad been called for.
The remainder formed pert of the gigantic Wanes du to Sir
Charles.

The 277,3161. in specie brought from the Brazils
by the steamer Avon is expected to be delivered to-
day. The bulk of this remittance consists of
sovereigns, which will be sent into the Bank.
The amount of specie brought by the steamer
North America, from Portland, is about 6,4001.
The Palmerston has arrived from Sydney, but is
not known to have any gold on freight.
A considerable quantity of specie will reach
Southampton about Tuesday next, per the steamer
Orinoco, from the West Indies.
The large supply of Mexican dollars brought by the
steamer Magdalena was sold yesterday for the Fest
at 6s. per ounce, showing a decline of id. compared
with the price realised for the previous remittance.
Owing to the magnitude of this supply, the ship-
ments to the East by the Colombo, on the 20th inst.,
will be proportionately swelled, for it is not impro-
bable that the whole of the 330,0001. in Mexican
dollars may be despatched thither, partly, perhaps,
in the shape of bars, together with some further
amounts of bar silver drawn from the Continent.
The tendency of the exchanges continues unfa-
vourable, and points to the prebable exportation to
the Continent of an increased proportion of the gold
imported. Yesterday afternoon, paper on Ham-
burg and Vienna, and long bills on Paris were in
demand, at rather lower rates. The current quo-
tations are shown below :
Amsterdam, three months, 11.17} to ; do., short,
11.13} to 144; Rotterdam, three mouthakall.l:4 to
Antwerp, three months, 25.32} to 7} ;
banoo,three months, 13.5} to ; Pegs three &Tel eight,
26.10 to 15 ; ditto, three montha, 25.40 to ; Prankfort-on-
the-Nahre, three months, 118} to ; Petersburg, pa
rouble, three months, 341 to wi ; ea. flu,, three
months, 10.35 to 38 ; Trieste, do., three months, 10.86 to 40
hors,
months, 48} tot ; Cadis, three maths, 498
to 60 ; hors, three months, 29.90 to 30 ; Genoa, three
months, .60 to 5 ; Naples, three months, 41 to ;
Palermo, three months, 122} to 123 ; limeina, three months,
6~to 123} ; Lisbon. 90 days, 61} to } ; Opteto, 90 days,
}.
Advioes from Rio de Janeiro state that the surplus
revenue of the empire of Brasil for 1867, after '
defraying all the expenditure for the year, is about
1,400,0001., a fact strongly indicative of the growing
prosperity of that country. The monetary crisis in
Europe had not, it seems, fallen so heavily on the
commerce of Brazil as might have been expected.
A number of German houses, which bad been trad-
ing without sufficient capital, and driving up prices
of produce by their speculations, had suspend pay-
ment, but commerce generally sou believed to 130
sound. There was a general opinion adverse to the
present system of "open credits." According to
these advice., a very large amount of gold may yet
be expected from the Brazils. The rate of discount
of the Bank of Rio de Janeiro was 11 per cent., but
in the open market 12 to 16 per cent. were not un-
.
EARL Flnwn.man.—lt may have bean re- common rates
Emma se exteetedbery that, although the death the hits Yesterday win; held a meeting of the six gentlemen
Earl Fitswilliein took place several months since, a motion to whom is entrusted the duty of distributing the
wee may madelmt Thursday for a new writ far the meaty of remuneration assigned by the Buenos Ayres bond-
Wicklow, in correquenoe of the accession of Lord Nihon to holders to the various parties who al-operated to
the earldom. We believe the reason to have been, that the bring about the settlement of the debt. The requi-
meat of Earl Fitswilliani could not be found, mid that ate lutiadopted, anda special vote of
thus was thatixe a difficulty in calling the Dreamt earl to the rem on, were
upsor house. It may be presumed that tiled/Meshy hes now thank' was passed to Maws. Baring Brothers and
been OTO3OOMII, se the writ for Wicklow tea been isomod. It Co. for their liberality in refusing for themselves
le smeared that Earl FttnerMain woods meet for YAW and for their agents all remuneration. The firm
710.5 at Coenadtn, on bla large In the county of Wick- have despatched three distinct iniasione to Buenos
147,),d
So at w„.„"nniwhetherh the
to meteeeekr draeataeseLlent. Arai upon the affairs of the debt, vi'., one in 1842,
lientenent of the West Riding will te productive of baron- a meson din 1056, and a third in 1857-
venience.—Leede Mercury. The shares of the Pernambuco (Recife and Sea
Two bon mots, attributed one to a learned Chief Francisco) Railway Company experienced a decline
Justice, and the other to an eminent Q.C., are gas( the yesterday afternoon. It appears from the *avian by
rounds toDahlia.Blmmild" the Court Cm"' Play the Avon that the first section of the line has not yet
the former reeseked it we. strange Vast there were three
Papists on the bomb, and ens Poiret& The hair, been opened for traffic, owing to the delay In OM-
wben asked 'Mee "Oil." wee to havethejudgethip, replied, plating the fences which the government require to
" Why, .1.0').," d seers;' and the eggropis ti the be provided. It is stated, however, that the expense
retort will
with not lis ohm who 1" Ilualez of this work will fall upon the contractors.
the mums of a vesimily paseldergeent.—Pfees.
Tae Su,op woovencx AgtgigAg,._jg the The return of the Bank of England for the week
the year 1716, the be guns will& Marlboroh ending Wednesday, February 10, compared with the
had taken from the Nem* roueWag rear the previous weekly return, shows the following results:
royal gun foundry iswhen yarn Swim circulate. hem,
named Andrew ;mielt, who was asddetail7 ream, re- cuedethet settee 19,608,816 Decrease 471,760
marking the dampens of the irehle, and loweeslsg the public equate
inevitable result, wares' Odra Arreltrag, the km sr- other &peek,
veyorlteeeral, bdag lee canyareer el the canatammt he
oPeratiou. As &UM ihrlohlt WO= binkingriscsalmsat . 9,702,317 Inman 143,168
and many workmen were Med. " e othite esewhiet heukh;B;
Mows nobody good," ear the di week end the likries defortmed. 18,672,888 Demme 1,650,864
of the ran was the manes of the paw knispah he- oeh, eue boat
tune, for in a few bp en alretkarest morel In ens eyett"---
,7 16,674.647 Increase 780,961
of the public, papers requinthier him le eau spew Wend SevenSevenday wdadis, time 848,224 Deoeww 22,338
I Andrews, "es tire interview may be for Mr adhatrireo. The Rag
I Andrew Mal& "Mallabd ocowdMll79 sad wee et me' Nobs In Maw .
trusted with the dray el eseldiecout a hair loft helm Total mark kettricc;ll)
outing dthe It orbsask Ise islimdia $ Tam° in banking department 11,446,832 haws 1,262,701
se at Woolwich, but lie whine twelve ado oldie se-
fropolin for the thialial oases thesis aft, nee le die Thin is another of a series of marvellous returns.
river, and M the izialaanta ndebnlnbned bn the The increase in the coin and bullion is upwards of
moulds. Bbettrer emsete te 111° aim hela.Prsi the three quarters of a million, and the increase in the
great nation of satimply what whom the 1111110100 1111
many qualities k win boa boa tam The ran erve of notes and coin a million and a quarter.
Rosana, sham 01111aaall=a ea the Wedittereet est The latter feature is principally caused by the de-
af Um" gollisei is hive bus II lb** W• 81, lees moos of more than a million and a half in the
et haul, neat le lave the ottlond.a.. 000.1_,,c0 " other" securities ; for the further decease in the
aemearyings.wlkkurasthe, f°Tigitalya onumitalegimundieureehe ""'""wa:4ll7lSillsaumwhadwur.7l6.ll.: Laanothecre"d debypouth'etoinisoreasto aecom.naithirsble
Tressurradet ;3:siun.
titer.
mg • 'ft? boded b now The Garotte statement of the movement of the
wyseintiamsua dmid mem ete=thdreebid precious metals for the week ending Wednesday last
siskviiirournati:lipuimmectiesis posmosvokomplaises, amptimosunsche mind
.11927 the , following
Caws,—Ommer mom 961 • exports off ta11g01dv,141,2'7—,4131119r. :rtaimpmUof fold,
of
die sire', 436,8611.; exports of silver, 222,8681.

BANK Or ZNOLAND.—An A
Ilk Vie, e. War the week ending

nova vv,
NON Wood ...... ....130.270.700 1

1/30.220,760
aaaano D
011011...41124.163.010
8,816.6.3
P ea
ri
sad Db. Amy. 4361.493
Odor Dimity, ... 16,206145
eav sad Wier ***** 1.124
Jib. 71.7818. 1:39,671.-556

pursuantb. 10
to the Act3B 7th end
Fe. 18.
-meat Debi .... tu.oisjoe
I Gold Otto and Bullion 18745,700
Sow Bullion .....

PITNR/17.

iPS,M,7OO

ero Pacartmeet 4tls
algbitnelost. Dead W
4'17 ---
oth.rAn.a.riWtl)."...... ..... 14762201..8963tf
Notes
Gow Niiiiiiii,;.,,.•• 10.6.7.446
(ALL. 676.817

ISL MARSHAL.67I.633
L CMlLlalar.

FRIDAY EVINDM.

Tke funds to-day were stationary in price, with
little business. The appearance of the market is
firm, owing to the abundance of money, but specu-
lation for the rise is, for the present, circumscribed.
A disposition is evinced to await the result of the
debate on the Indian Bill and the issue of the Indian
loan.

In the share markets the attention of the dealers
was, to some extent, engaged with the fortnightly
settlement, which was to-day completed, bat the
general tendency was upwards.

At Amsterdam the Bourse exhibits an upward
tendency.
Consols closed to-day exactly the same as yester-
day, viz, at 961, " sellers," for the 4th Merck, and
961, "sellers," for money. From these quotations
there was scarcely the slightest variation throughout
the day. After the close of the Stock Exchange, the
market was somewhat firmer, at 96 3-16 to 5-16 for
the account. Sales are recorded as follows :—Three
per Cent. Consols, for money, 961, 98, 961, 96,
1 ; ditto, for account (4th March), 981, 981;
Three per Cents. Reduced, 961, I, 1,1; New Three
per Cents., 961,1, 1,1, ; Bank Stook, 225, 226,
225 ; ditto, for account, 226.
Exchequer Bills have again risen Is., closing at
325. to 355. prem. India Bonds were dealt in at 21e.
to 255. prem.
In the foreign stock market the principal feature
was a considerable rise in Buenos Ayres Bonds,
which yesterday were dealt in at 100 and 102 ex
div., and to-dAiy were officially marked as high as
109 ex div. The closing quotation was 106 to 109.
All other foreign stocks were firm. Turkish Six
par Cents. advanced 1 to 1 per cent., being quoted at
4 o'clock 1001 to 1, and, at a later hour, 1001 to 1.
The Guaranteed Four per Cents. rose this afternoon
to 1041 to fex div. Spanish Bonds continue in de-
mand ; the New Deferred Three per Cents. were
last quoted 261 to /, and the Passive Bonds, 61 to j.
Peruvian Bonds are looking up, in anticipation of
the approaching absorption of stock oa account of
the sinking fund. The amount applicable to this
fund is rapidly increasing, and the proportion
of the debt alreidy redeemed is very large. Dutch,
Russian, Sardinian' Brazilian, and Venezuelan
Bonds were all inquired for.
The nominal closing quotations for the shares in
some undertakings of recent formation are as follows,
viz.:—Onde Railway, par to 1 prem. • Central Dude
Railwayy, par to 1 prem.; Great Southern of
India R;llway, par to Iprem.;1prem.; Cape Town Rail-
way and Dock, 3-16 to 5-16 prem. • Victor Emanuel
Railway Bonds, 2 to 1 dim.; NIL and San Fran-
cisco Railway, 11-16 to 13-16 prem.; Cape (Eastern
Province) Railway, par to Iprem. ; Riga Railway,
par to ;prem.; North of India Tramroad, par to k
prem. ; Medea Railway,l to prem.
Bank shares to-day sustained no important change
in price. Eastern Steam and Crystal Palace shares
continue in demand. Australian Agricultural have
declined to 251 to 261 ex div. Peninsular and Ori-
ental were also flatter. Canada Land shares were
officially marked 134 and 135 ; East and West India
Dock stock, 123; and London Dock, 106.