The Express.
London, England, 1857-03-12 00:00:00

tabs Intdltronce.

COURT OF BANKRUFTCY.—Mucn 11.
(Were Mr. Corambeirs Hoiroyd.)
11 TEI ROYAL BRITISH BINK.—EXAMITUte I
TION NIL THE GOVERNOR 021
THE SANE.
This vim a mitt* appended for the examination of Mr
Binned Wain, regeneracy ef the bank.
Mr. larlster appeared teethe assignees, and Mr. Vanning
Ito Mr. Eabile.
Mr. Edwina ledelb, be answer to Mr. Linklater, who
appeseed for the sesigran, elated that be was a director of
the beak from its commarrement to its close, and woo
grantee of the evert of directors from February, 1851
Ma mould act say how tack the bank had when they rots-
sentied bemires an the 15th of Norabar, 1849, but he be-
lOWA the ewe el OAK es ataailag to the credit of the
hash is their bar was wean He was aware that Ly the
Mess al Os sot streliment, they should bare had 60,0004,
Wag ordisif oldie poil.op capital, before they petitioned
her Illajesty is some he • abetter of incorporation. On
Ihe 25th ad Slat dN. hr, 11149, two auras of 6,683 i
and 3,llb.warepild bi • the Bank el England to the credit of
the beak, and en the sere der two cheque were drown by
&Arra Kennedy, Mr. Cram" and himself, in favour of
M. her, Or the like oascoata.
De yea bar whether Noy Lan had been obtained by the
direst= of the loyal britiehßeak for the purpose desalting
It appear that the amok be the Bank of England was larger
then it actually was P—Not to my meollectiaa.
It is • setter alt raiding& rportasr aad about which
ort watt think year Eseiery would earn you to answer
with certainty. I eat yea main, 11113 you not aware that the
amber' d the Royal &irk Bank borrowed money for the
mien d payiag la to the coedit cf their account with the
Wyk of Ragland, la ceder to swell up the amount standing
le than amid at the time they commenced buname t—
lipmidag from my recallectioa at this moment, I masot say
that I Ie insillect the eirmunetsace.
Ia that the only mower yea gire to that garotte& f—That
is sir orwor.
CMS you prig* your word that no sack loans were &-
bird f—l should think sot, from the imperfect recollection
of So ebennirce of rat dry. I shoat not like to pledge
moll le ay enteenst that was not coincident exactly irl,k
sq veselhollom If it had Um so, I should hare an motive
ceamellag it, Mr. Liohntor--al lead I should give you
my meet snalghierward improseloo.
Do yea halm Yan ha ter that loans were obtained on
behalf of the Mmaten, !are the purpose to whieb I hose
alibedalt—l do sat melba the etteurestance.
Ho you be it to to See t—l cannot give an answer
ankberry to myself to rat restlen.
Apia I mat ark yen, de you believe it to be true? Pray
Wand to the wristies—de pia believe it to be true P I do
sot wink to settekle year hesitation to soy nnerillinyisees
to weer. Rot at all ; I an anty considering what mower
I salt illy tearfully.
I mot hem an rawer to rat question.— I have no re-
adbelbis afro bet.
Ili is se ware.
The Cenriernew—why Is your belief upon the subject.
Myna ham aalielkf trey sr the other, of course you will
see en—Te be my undid with you I have no belief
men lb* =Nast. My rad is a blank upon the w*st
wistrb. r Wet
Xr. lioldotor—Wo will *As your answer as encl. I
rem it Is staled le the wesant to whi.h you have canned,
mai which we will nark A, that them were 86 shares allotted
te Mr. Camwea, upon alike Br Int and woad Urbane
relit be 421 X—1 date gm ere were.
Did the areetors receive tree Mr. Cameron his promissory
Mkt M riet tato= f—l have ao doubt they did.
Did Mr. Carreeners ley sr farthing of those shares P
Is aosoy?
Did be ever pq see heal' at those shares ?—I cannot
aey rat he dld, bet we MU him strictly responsible, be-
Ikeda/ that he was able to some the responsibility of therm
311 r. Cerra was then kart upon as • man of tornne,quite
egad* that obligation. •
Then was Mr. Cllalsesifs prataissory note for 4,3001., •
partisal of what the direness represented as the pad-op
agpital?—l pregame it was se. It states the fact here, and I
have an doubt that It erect. I was present at the
meeting el the 14th ot October, 1849, when • loan
at 7,6001. was wade to Mr. X'Oregor, and a sum of
1.0001. was divided amongst the directors for their services
be 15411, and whir was represented as preliminary 'sprain
apea the formation of the bank in November following, and
erkk amounted to 9,52.1/. Ils. ltd. before commenting
badman
Me.

ass I,ooof. was a RUM which the di- I
mews Ise Me MOMS= without ktting it appear in the
loolos at a/ MWeriMit Impedes did you take?
Mr. EsdediFi wimMS Mead ; bat the largest sum was
law by lbs lbw Oa the 19th of November,
UM, the sum w SlSMisi to the governor for his
'sweetest souls^ sad is Its &mete es. The total loss
to Ws brit am* Mr. Maws wee, 1 behave, from 0,0001.
to 10;0061.; bet that was stet bums until after his docetwo.
I woe pear ad the weedur eneuding the talent and amiable 'I
qualities of We. Massa Gs the 13th of December, 1103. 1
remuslar lira Osedrish sgplytag for some deeds which
beed bow bawd se asesrity for the advances to Mullane, end
tibiae abe nwreesated bed bean deposited without her
sullicetty, rd they won rseurnad to her.
Mr. Unfair—Ws bare bred of a •12.211 privets pocket
bare but by Mr. Careenn. the =miner. la this it
(Pbsdnelig an bnisemee Yager amidst mach larrohter.)
3edells-1 baker Y te. Ido not remember seeing it I
asseptas 11,, Camas's teals ant' filer I became goversor
is Alma, 11M.
Mr. Liaises, here called the attentiot of the Court to
ileepseltion Is bar Majesty in Council, dated 2nd of Jose,
390, signed ley John 31.0reger, M.P. for Olisprow, Apeley
Teilatt,Ableranan Kennedy, Edward Kahane, Esq., end the
sthar &redoes, representing that 50,000!. bad been paid up
es 1,000 shares, sad upon which misrepresentation the lords
severed that the rovisione of the ith and Bth Viet., for
regalating lotnt-etock beaks had been complied with, end the
arts was obtained.

bai! garried.—The directors had raw
spirt:stirs Ibr drew Ira persons residing at Newomde-
rpor-Tyrs, selfish bad been eanvaned by Alderman Ken-
astir mid lib Cairo& A cheque for Gl°ll. W. afterwards
Aux is bwitir et Mr. llfullems, to enable biro to go down to
triads a Irribr el those shams, as the a isoitors refused to
gigs Ur Egli d eassititution. On the 26th of October, 1849.
Ohs &poi tell returned to the amount of 6101.
Mr. Lbrildrer-7h& your honour will 8.4 woe illegal by
ai• 7th Mid Bth Vic. without the content of the law
mars.

Xe. gedsfte then proceeded to state that after he yr
erred gerruor, on the Ist February, 1845, his allartisn
was drawn to the ledger, sad he found that accounts had
less opened with soreal of the directors of the bank,
sod that Carron was indebted on hie discount account
slow 16,0001. In August, 1864, Camera kat him 4001.
es lie promissory note, which was paid by bin, in February
The cheque was drawn upon the bank with
which Ws promissory note was discosuattsl. It ass purely a
simple trenrctios between himself and Mr. Cower., and
might state to explanation that it was thought deairatle to
double*. qualitication. of the directors, and he borrowed
Or mow, of Cameron to enable him to tato up to err
Imes. He did not take the pains to slyly to the Mena
reassittes to know if Cameron had applisd for perm'ndon
discount his promimory note ; be never hod say drawing
scestwat himself at the bank. From the time he berms
governor, io February, 1866, to the closing of the bank,
Cameron'. account had ineremed from 16.000/. to 18,148/.
Mime! and the other directors had frequently taken steps
to sampal Common to redone his account, bat had been un-
His Hosear—Whet I west to know is, if that 19,1161.
was adeenold on Ceramorie pausal security t.
Kr. Linkleter—Yes, and apes shares.
isarisation continued—He woe aware that by the deed
idammat they could ma advance looney on
aim II of Oa bank. Is ;February, 1854, they adt anted
OK is Mr. Theme Chador, one of the auditors of the
bask, on 18 Area rid Me proinierey note, which Lad sot
her raid. In July, 1864, Cameron advanced Humphrey
Brews, M.P., 1,000/. on the deport of some shares sa rens
Oily. From May, 1845, to July, 18.16, the ether director
sad khrolf repeatedly Mersa to Cameron'. account, and
ihry had It generally inamerg, but sometimes arras-
Mg. Al the half-yearly mestluts of shareholders in
Febsurry, 18614, and Jar 1686, Coneros's wrung was re-
teened as • goad reek Dry bled dr or six diftwent sorts
sf escurfths, lout at prima hs esald set describe them.
The honk bad lost by the Welsh worts 120,0001., garret to
err would bo ermined far emu This szpendkue was she
espermied se a psi smog is Ins hitt to the err-
Wawa, st they Ird hoped is rho a eoapany by area
Moms. Puller and Horsey were limas:KlM to sot the
sirs. Oa the 2i 1h of feu 1864 the directors cane to a

resolution as to the reserve bid. The reserve bid was to be
63.0001. ; there was no bidder. At that time advances had
been made on the mine to the extent of 75,0004 He did
not know that Mr. Apsley PelLtt bad retired from the din e-
-1 tion un account of some ii.i 4,11er transactions in connexion
with these mines. In May, IBM, he had come to the con-
elusion that there would be a very great less on the mince
eneept some desirable arrangement could be made. There
wax, however. a belief that this might be avoided by means
of the formation of a limited liability company. Mr. Walker,
a lawyer, was the person employed in getting up the com-
pany, but he did not know where he lived. He was a young
professional man, and ho believed he resided in London.
Walker thought thet access might bo got to certain parties of
of wealth and pa- Rion who would take up the company.
Mr. Lieklater—Their names ?
Mr. &dada did not think it would be right to give their
MOM
Mr. Linklater—lt is all-important that you should do so.
A gentlemen in court said Walker had been a clerk in
his race for nine nwnths, since which time he had not
seen him. . .

Mr. Manes examination continued—Mr. Thompson,
civil engineer, had been employed by the directors In the
matter of the mines ; he had nut given it up as a hopeless
case, but for other remote
Mr. Linklatee asked Mr. &done to refresh his memory
by a reference to the minutes of the bank of the Mb of
August, 1856, in which the name of Mr. Fronde Welker was
mentioned. . . .

Dlr~Eed&ile referred, and said that Ulna probably toward&
the and of July, 1836, th.,t the nrgoiiationa took place with
Walker.

Do I understand you now to may that you represented that
which you believe to be tone what, In the *counts ending
June, 1656, you dated the Welsh works to be a good sect to
the amount of 120,000 f. P—W•ll, we did feel, and we were
prepared to say, that the eventualities would be such as to
pekoe a lose to the honk upon that
I de sot want to biotine with the exercise of all the elo-
=l.el your vocebeisey, but I want ma enewer—ps or no.
Igieretawl yea Se were* that vow believe you was
deka Or truth wlenkin Ihe ottreolo waelsg the 1111111 h of
hw4lllllll, you regeseentelletheimehmidem last **Welsh
wire essitituted ea avallehis Nest cello voles of 1114101110
It is • plain quarks', enlist ere hire ea onower—yee err as
—lt is not • question thee! dm give a phis aneworbe. V.
may have had, and most lave had of emu, owed& owsloss
feelings with regard to what the future would bring along me
to that property, but we were not prepared to sq that thin
would be a loos before that lose we. prows& I therefore
cannot give yaw a yes or no saws. I ess only give you
such an answer se is present to my own mind.
I must ask you, lb. Bedside, upon the obligation of the
oath you have taken, whether, on the 30th of June, 11166,
you believed the Welch mime to be of the value of 120,000:.
Do not hesitate so long.—l am obliged to hesitate, because
at that time we were in weeded hopes that we might
make arrangements by which the property would be re-
deemed, that those advances would be redeareed.
Hod not Mr. Dewily been in communication with the'
bank in reference to the site of these mines f—Teetre before.
What do you call years before—lB63P—No, 11&52.
Mr. Paddeon-1822 or 1833 P—The mines bad not been
developed at all, because we had not hid our railway down.
We bad not opened our slips or extended oar cutting and
other (binge. The property was a very different state.
Mr. Lioklater—l will ask you until I get an mower. Do
you or do you sot believe that you won maids( an lionemt
representation to the shemeholiore Y lei Nag tire that the
Welsh mines wen on avellohlo swot to the mount of
120,000/. P—l cima only woks the wan answer that I made
before.

With that answer I am not tatialled.—l cannot give you
any other. I nen only may that at that time we did not
believe amongst cietreelme that there would be a bas upon
that property. Thew is no question uto its lost power of
development.
The Commissioner—You would have sold It for 53,000/. if
you couldf—But dam that time we have done • pod deal.
We made • very large extra outlay upon it.
After 1854 —ln fact the principal outlay was sibeemsent
to that plied.
Subsequent to the capected sale of Messrs. Fuller end Co.?
—Tea. Perhaps while we are upon that property it may not
be couidlered germane to the question to say, that the value
tithe 'mineral property depended shout entirely upon the
sailway communication we could make to it. Had we suc-
ceeded, which we fully anticipated doing, in introducing our
coke fairly to some of the ieading railways, I think that there
ware the elements of redemption on that account, and, in-
deed, it is that feeling, Mr. Linklater, which makes
me hesitate to give you • straightforward answer,
which you think I am shirking, which is no
such thing. I repeat it, the cod was of great value for
railway porpoise, and had we been in a position to have
opened a free access to the Great Western, the South Devon,
or to the South Wake, or even to run up to the Midland,
such • new and important feature would have been im-
pressed upon the whole thing that I do believe, and we
believed up to that very time, within a week of sue stoppage,
that there world be the chance of ultimate realisation,
sad, therefore, you must not press me to ray whether I
ma prepared to admit that we were making an honest
stall Bent.
In the kohnicsolaset finding the 30th of June, 1856, sub-
mitted to the ihereheideee en the lit of August, did you not
regnent the hank on solvent P—lt is impossible to say we
WON not deficient. We wore sanguine of surmounting the
. dlfealty by the extension of business and increase in capital.
Wes yes not aware that the whole of the subscribed
espied was lest P—l caret deny but that we were in jeopardy,
I suet sq loot, while then: .na a chance of redeeming the
Welsh pa "arty and realising Mr. Humphrey Brown's

se. urites,
Mr. How much out?—lt would depend on the
estimate et the thee c the %slue of the securities.
Mr. Linking? amend time, asked if the amount given
It Felrmy, 11168, was true or fake; and Mr. Endaile
mid he amid sot deny that it conveyed an erroneous im-
Fm,a'

Did yen, Ur. Fadaile, es governor, sanction those or-
needs, knowing thew to bo false long pause, and no
Quad= repeated \'o anower.
I mein sok whether you did not know the accounts to be
Mee?

Mr. Padale (warmly)—By this question you are charging
ass with an untruth, which is foreign to my nature. I will
tot mnswer the question in that way.
Mir. Linklator—ln your anxiety to protect the share-
holders, did you not give • statement which was Mee —lt
was not strictly justified by truth.
Mr. Unklatier—l Ini in the ancounts ending the 30th of
Joe the grass profits, after making allowance for bad debts,
biereet en promissory notes, kc., amount to 15,0891.
Was there any profit ?—Yes.
Mr. Llnklater—Were not bad debts to 100,0001. taken
cred. it kw as meta ?—You mean including advances to
directors. Question repeated. Adding reserved fund and
in,-erased capital there was • large margin.
Mr. Linklater—Was not the representation untrue l—lt
woo certainly not borne out by the analysis.
Did you believe it made a sufficient reduction in the had
debt. °—No ; but in the rouse of years we hoped to Bad it
sufficient.
The Corimisaioner—You wanted to throw the present
losses on future generations.
Mr. Linklater —ln the 810,000/., were not debts included
as assets which hod been bad for years ?—Thought as
doubtfJl. We received 13,0001. last year.
Mr. Linklater—But • large amount P—Yes.
Mr. Linklater—Knowing them to be bad, did you not
insert them sa good, intending they should extend over
future years P—Yea.
Mr.

not the bud and doubtful debts eza,ed
1.10,C00J. t—They must have.
You knew that in August, 1851?—Yes.
And ka December and June, NUS P—Partially.
Mr. LlaMsfee—Then those statements made to the share-
holders um untrue ?—Yes, with some explanations.
This pa knew there should ban, been no division of
profits in 11164,18.15, and 16,10?—If w• were governed by lb'
principle of meeting every obligation that appeared on our
boas.
Question repeated—Yee.
At the time Mr. Paddbon, the solicitor, wrote to the
Board of Trade for a certilicate under the supplemental
charter, did you not know you were in *state of hopeless in-
solvency ?—so ; only enaborramment.

The Cominieekncr—You could not hare paid your way
without maw capital ?—No.
Mr. I/ablates—You become severest la Zone, 1836, and
Bel yes thin Wert all the capital to be belt—Mr. BAAS):
We baltread we should have tocoverod Canwea's debt, sad
that Humph/to Brown would pay. 1. Joe, 1866, be did
out kaow all the stoical wan loft, bat believed it to be com-
promised. Want on paying (Belgrade Am that. Believed
Ahltema Botiardy woe set swats of the rides of the

bank, but could not say he did not know it to be insolvent.
The new shares were baud at a premium.
After some further examination of a loss important cha-
racter the sitting broke up.

INSOLVENT DEBTORS COURT.-ILisen 11.
(Before the Chief Conimisioner.)
IN CB JOILN SABIN.
The insolvent, who had been a deg fender in St. Ottees,
was opposed by Mr. Dowse on the part of Edward Riacem,
his detaining creditor, a tailor and deg fender, at Shore-
ditch. Mr. Reed suppuled.
The complaint was that the insolvent had become indebted
by malice to the opposing creditor, who had brought en
action of (also imprisonment against the insolvent. In Sep-
traitor the insolvent alleged that a dog of King Charlet?.
bored, which Risme had powered, belonged to him, and
gave Rieeem into custody. He wee locked up all night, end
the charge wee diandaced by the %Trieste, as he eateedic-
torily proved it belonged to him. was Ir.
fus4 and en action brought by En lee tscvellancy
Lewis for false imprisonment, and a few days efterwards the
insolvent brought en action of Weyer to recover the animal.
The action of Itiseam w:a tried drat, and several witnesses
were celled on both aides. The dog was exhibited before
the jury, and a verdict wee given for 20/. damages, and the
meta were taxed at MY. The other action wee discontinued,
and the casts were 71. 19e. to the o creditor.
The cam was now heard at e length en the
question whether the insolvent had been actuated by
'• malice" In order to bring the cue within the act of parlia-
ment. Bums! WitOGINKS were called. It wee farther com-
plained that the insolvwst had parted with Itimperty, but
theTcheeice part was disposed of before the
Commiasloner wee of opinion that dm injury
complained of was malicious, because the insolvent had rim
Weems into custody without any reasonable or probable
cause, and that in the or of the law coned...dad mahce. His
Honour was of opinion that there had been e porting with
=Az with the view of deprivingaEr of any bora
action. He gnus a j of nine calendar
months at the suit of 'Kum, for damages awarded in
the action for film imprisonment.