The Express.
London, England, 1868-08-01 00:00:00

THE PROMOTION OF BUBBLE COMPANIES.

Edwin Yelland, a promoter of public companies,
having offices at 26, New Bridge-street, Blackfriars, and
living at 26, Aldridge-road Villas, Westbourne-park, was
yesterday placed at the bar at Guildhall, before Alderman
Funds,having been apprehended on a warrant by Wil-
liam w, an officer of this court, charged with obtain-
ing divers sums of moneys by means of false pretences.
Mr. George Lewis, jun., of Ely-place, prosecuted, and
Mr. Pratt, from Mr. Buchanan's office, appeared for the
prisoner.
Mr. Lewis said that he appeared to prosecute
the prisoner on several charges of obtaining money on
false pretences. The first charge he would prove was
that of obtaining 1001. from Dr. Bartlett by fraud ;
the second of obtaining 2001. from Mr. Winscom; the third,
obtaining 1001. from Mr. Donaldson, and a fourth ob-
tained 601. from another person. The prisoner was a
"getter up" of companies, and amongst them he brought
out the British Alliance Assurance Corporation, (Limited).
At the outset he (Mr. Lewis) wished to state that that
company had no connexion with a very respectable com-
pany called " The Alliance British and Foreign Life
Assurance Society," which was extremely respectable,
and there was no doubt the prisoner intended to trade
upon their reputation by having the name as similar as
the law would allow him. The prisoner advertised in the
Lased for two medical officers for an insurance company,
and Mr. Bartlett applied in answer to it. He saw the prisoner
Yelland, who stated that the company was registered, that
it was in full wing and doing a large business, that they
had agents all over the country, and that Messrs. Valiance
and Valiance were the solicitors to the company. Their
names gave a standing to the society it did not merit, and
Mr. Bartlett gave his hundred pounds to it with perfect
confidence, believing that the repxexatations were true.
The facts were, however, that Mr. Yelland had used the
names of Messrs. Valiance and Valiance without their
authority, and that as soon as it came to their
knowledge that he was doing so they filed •
bill in Chancery against the directors of the
company, and got a decree against them, prohibiting
the company using their names. The next charge he
would prove would be that of Mr. Winsoom, who was
appointed secretary to the company, at a salary of 6001.
a year, and by the reprmentations of Yelland was in-
duced to part with 601. in cash, and three bills of 601.
each, the first of which had been paid, and the other
two had been passed into the hands of innocent holders
to recover. Having secured a secretary, Yelland next ad-
vertised for a solicitor, who was to pay 1001. down,
but that person being cautious paid only 601.,
and was to have paid the other 601. at a sub-
sequent date. Yelland then advertised for a chief
clerk, and got him to invest
.601. in this company,
under the pretence that it wasregatered and doing a good
business. He (Mr. Lewis) would be able to prove that
there was at that time no company, that no company was
registered, that the London and Westminster Bank, which
was represented to be their banker was not their banker and
never had been, and that in point of fact they had not one
shilling to bank. There win an account opened there
with 601. by Yeliand in his own name, but that was soon
drawn out. Some time after all those transactions had
taken place the company was registered, and he would
just call his worship's attention to the articles of associa-
tion. The 146th clause was as follows :—" The directors
shall out of the moneys of the company pay to Edwin
Yelland, within 28 days after the date of the first allot-
ment of shares, on account of preliminary expenses in-
curred in the formation of the company, the sum of 3001.
in cash, and 600/. in fully paid up U. shares of the oora-
pany ; in six calendar months thereafter the further sum
of 3601. in cash; and also the further sum of 3601.
in cash in twelve calendar months from the
fret named date." The 103rd clause provided
that "The company shall have a managing
director, a secretary, • solicitor, and bankers. The first
and present managing director is Edwin Yelland, Esq.,
where salary shall be 6001. per annum, commencing from
the registration of the company, payable quarterly, with
a commission of 2 per cent, per annum, payable at the
same time and manner, on the gross income of the com-
pany." So that the prisoner was to receive as his share
1,000/. in cash, 6001. in paid-up. shares, 6001. a year salary,
and 2 per cent. on the gross income of the company for
the part he had taken in getting the company up. The
prisoner had been summoned to attend this court yester-
day; but, instead of obeying the summons, he sent
a certificate signed by Dr Wall, his medical man,
to say that he was too ill to attend. Upon that
Alderman Lusk granted a warrant, and Turner
was sent tip to execute it. When he got to
the prisoner's house he was told that Mr. Yelland was ill
in bed, and the doctor said he was not to be seen by any-
body. Turner, however, insisted upon seeing him, and
hearing the clinkng of knives and forks upon plates took
the liberty of stepping into the parlour, where he found
Mr. Yelland, not in bed, but in ha arm chair picking his
teeth after • sumptuous repast. As soon as he produced
his warrant Mr. Yelland became very ill, and produced
the certificate of Dr. Wall, which certified that he was
unable to attend the court, and therefore could not leave
the house. Turner, not being satisfied with that, sent for
a physician, who gave a very different certificate ; upon
which he was told he must put en his boots and go with
the officer. When he found there was no help for it he
drank a few glasses of port wine, and was taken to the
Fleet-street station.

The learned counsel then proceeded to call evidence in
support of his statement, and after the testimony of Mr.
Hallett and Mr. Henry Valiance had been taken, Mr.
Lewin applied for a remand.
Alderman }swain remanded the prisoner, and agree I to
take hail—two sureties in .5001. rub, and himself in 1,000/.
Buz pus being forthdconing when the van left, he was
Removed to Newp.te.