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

to alert se Minter and Co., upholsterers and invalid &air-
craft', they announced their drip lan the moat at time way
to the dkeeters, and informed them the rum they wanted
was 2,11001. "Loan granted to Minter and Co., 2,8001;
was gravely altered in the agenda book of Mr. Morris, the
asthma, and the next day Mr. Stephen. married Mr.
Mortis'. &setter. There is a solemnity about the process
of pluaderhar a bask in this way, which must add greatly to
the enfoymeet of peculation, If the rogues have a Ind&
cleat sense of the ladianus to relish It. Putting your hand
tea Moog-boa or a till I. • very oommonplaoe and unima-
ginative proms:ling ; but making • formal suitenent that you
ere On to be Maar end Co., sad want 2,8001. to make
maid otters, and getting your father-in-law to hand the
am seer to you end eater in a handoomelphound agenda
bads, " loan granted," is • rest stroke of ingenuity sad fan.
' The history of tbe Branham Clay Company deserves to
be MAIM separately. Colonel Waugh, who for a brief
same made himself a Son in the great world by the insane
menalleame of hie eatertaitunents, was perhaps the Snag
Co. that ever practised. He had has. acquainted in India
el& Kr. Stephens, who, Womb, biome:mid into • Co., was
ea sidelnatmorpoe in the Queen's melee. He knew his
man, and Mt that he might safely treat with him as a Co.
Me sesordlogly made overtures, and, informing Mr. Ste-
phens that he wee owner of a clay-field in the Isle of Break-
am, width he faleaded to work, he offered to give him a MN
Man in the undertaking. This seemed a handsome Mir,
for Coked Waugh was the soh proprietor of the clay, and
Stephens was not to contribute eery capital. But Stephens
miereteed what wne meant. Samos the meneipe of tho
lank led tnialliiiillOricaiseu Wig* CabswirWiregit- •• -
with litoissesydliteslssosboillos. The envoton were too full
of simkatien ler mind spar of Co.'s to make any difficulty,
and Coked Waugh begat to Maid the bank sa Seely as he
chose. We do not preload to be ebb to state the meet
IMMO. which, in the keg ma, these Co.'. gotmut at _the
bank; for as soon as he felt sure of his position with to
directors, Colonel Waugh managed to pommy himself of
Poch vest sow out of the bank funds, that it become ass-
lees, sad almost Impossibie, to attempt to diethisnrish under
what head he was pleased to draw any particular etim. It is,
however, worth observing that, according to the statement
of Mr. tephons, Colonel Waugh, on one occasion, obtained
68,0001. on his simple promissory note, without any collateral
security whatever being required. His debt at the bank at
the date of the that amok is stated by Stephens to have been
so is than 243,0001.
U this story doss net the a warning to the shareholders
of hanks, nothing will. If they can hear with equanimity
that a manager becomes a Co., bar those within a twelve-
month, in branches of barber with which he Is utterly tux-
sequeinted, that he did not inert in any of his undertakings
• farthing of his own, and that the directors were cognise:it
of what ha wee doing, and plated the money ofthe bank at
hi/disposal, the they deserve to be robbed. Of the doings
diOalansi Waugh we have yet a great deal to Isere ; but the
story of the Co. le complete, and ought to be engravers on the
manorial every ono who trail a joint-stock 14k without
making Mimi, folly soquelnisi• with the oiserioter and poet
cent of its ofikiele.