The Express.
London, England, 1857-04-02 00:00:00

the diem bed boa aped cd, tad thi IS Meths.
dam mil be emleulobeL If mem te Nia, I
suppose I lea impomelde kr K) WOO
have ben imeileelhe le the like. I did It, IMk heal
eareiermees, ter meat eta dear Ittecorhip wbdthe bete
VIM MON= IMMO 011,111111 t is as Melt I lOW
it wee aseeemey fiat Ilk &odd b. paid ea Nib Ewe la-
ke Neeiester wee applied Ise, sod the remehies 411 per
are Mee the beet eimmemel beimee. The =Molts
that Nerd eak aid NM November, ISA stabs
il Se impel Me WA ben hem aeheelled ler, that
the Mel Mabee. dolp meleokeed Net ea bailee aims
ea IMMINBII a hily poll up. de advessibet awythieg
Yr. Oammelfs pmalsery fele bay Yin he Ns MI
charm. I smkeeleed that the elide we eel la
the paresis of the bob, Withal lie Mimes letemen
that sad 60,0001.weelbeemeamtpiNtsepsellmfreer4omes.
I err lot aims ask UAW thee, the- bend bold amity
ke 7,4011. I wan print at a bawd maim M whirls that
=tram the Weals. IMiak ma
welideery Mated by Kr.
or
to Om
that the Bawd of Tiede allowed ea-
, poebe deleded Mem the sepia I did sokem I
tie osettiesee, loww erasmog at the abontioNem
=ea
'fns d
the meiler bad meeped
ria limbs et the 1116 November, 1649,hats
the lie Mime la the Drat of Neshed wee caly
_26,0001.
iml4, ohm 9,6231., sad •
loos Is lir Jallaf7=27l
Mr. Likkabe—Tbla bow ra dip the certideate
with • beide* d them ads f
Pdlatt-1 rut have boa mainly loader • Tem ler

pre7efor.—
Mr. Lin Motor—flat yea Irma what wee not coned f
Mr. Penstt—l mutt lave tem =ler • wrong impellers
et the U. (Irugher.) I mar sr, whether Iw pr
rat at the near al Ms eria•los. I AM not biers
whither Ihre woe ray alter armed* eras the esprit be-
yerl dr I hal a fere tarreedon
ban Mr.StrrlCrt to *died la tLat
callittie. I re ether foramen to Ow
Mak • ell MIA pm ehre wee irde, and erZira-a
MI. la the illewleg wits* elk • row to ertromerg
beim fronefireff.
_Whoa the loser geellrbery
wet rerlseel •• I Abler to ea tee bilge;
Ito leirOmeert &ewe. re Met die polleirry sprier
of edge Morrie& to
beg bees iewi kir I =der-
reel Mr. MOW
apes= le oral onvelyrtneevirlawee=
not to the dies It woo mak to itiasran leriree.
Cameros we ie gereg amorgrirt I ei net berme mete
that my orgrearedes se le idea wee wrong
until Ate dr bah
Mr. Ihddeler—garidhart llet beak stoned ?
Mr. firma It oat ea 100,1 over some of

-
mite 'oner—le k pemlbie that you, as a member
!phi isitil!t are, wme net ware el the state of the law in

titis—reepit
Pellett—l always thought that the charter limited the

liatilitlinklaterLHad . -
Mr. on the honour to be a member of the
Vwhen Mr. Ikea= made hie statement!
.erellatt—No.
Mr. Lbsklater—How did you think that the charter limited
year lability?
Mr. Pellatt—l 'apposed that it was limited to double the
mem& of my shares
lie. Unklater—llow in beeves did you get that notion
(lasstMear.) Ydyen glare anxious, es • legislator, to pro-
mote ediestisat (Great laughter.)
The Commissioner—The beak was keeled under an act
wYsl Seeded pow 'okra W Natality.
Mr. Peillste—l wee as* aware tithe bat. All the time I
ergs maw Ht widen dot, by Os risreter, the ehareisiddere
ll* 10118 is deraMe due meow* el irk draue
lir. lakiMr--Thes I eepoues yea told the public
Mr. Mr. Pelledt—l told them nothing 'a foss I was personally
concerned.
Mr. Lirddater—put martinet a party to the advertimment
which says--.. It is manifest that the depositors can incur no
risk whatever, and the eliareholders will know that their lia-
bility cannot exceed one fourth part of their paid up stock, in-
mead of being aa in other banksunlindted That a contrary
t4ur yu notion.
Mr.rellatt—l was no party to that prospectus. It was
Woad without my giving attention to it.- (‘` Shame r) The
claw in the charter which I refer to la the 9th.
The Commissioner (looking at the charter)—That cheese
only relates to the liabilities of shareholders inter or.
Mr. Linklater—And you took it to mean that your liability
was limited a regarded the public ?
Mr. Pellatt—Yea ; my impression either arose from that,
or from some bill brought before parliament which did not
Linklater And thank(' you thought it was

law ? (Laughter.)
Examination continued—There is a minute of the 24th
September, 1849, that Mr. Measles be discontinued as WM-
ry to the board. I don't ewe what the minutes ere—l
never knew Mr. Menders act as secretary'
wal if he was
celled se, he wee called wrongly. I deity that he was there
weft eseesetery. He might be acting mi secretary to a
pettlerehr =We& I knew the cash journal et the bank. I
new Wed of an, ansagenot which Mr. Cameron bad
sacs he Wain the OM aseeeeire to commence bueinees.
The buss has lthe of the 10th October. 1849, eecme to
mike le seem arrangement for borrowing money from Edin-
bar..Lanklater, —lt Is memory to have these farts in eel-
r solely with reference to Mr. Pellatt, but in order to
the evidonee which will have to go elsewhere.
(k29lnow)
xxaminatien rontinned—l recollect the opening of the
bank in November, 1549. I was not there, but I was at the
dinner In the evening. I was not at the prayers in the
morning. (Hisses.)
Mr. Linkleter—At the dinner, did you propose this toast :
" The friends and well-withers of the Royal British Bank
pwlictalat IL ammo .yew Loolco aud p iowincal
press" ? Laughter.)
Mr. Pe tt— I dare say I did. I had not road all the
prow had said about em, but I might thank them generally.
I was fortunate enough to get one of the medals. I have it
yet. (Laughter.)
Mr. l..ldriter —You proposed to give a gold modal to the
Queen ? (Laughter.)
Mr. Pellatt—l dare my. I continued a member of the
board till the end of 1850.
Mr. Linklater—Did yen thenbeliere that the bank had not
lost one-fourth of 50,0001. ?
Mr. Pellatt—l was not aware of loss to that extent. I
thought the bank safe and solvent.
Mr. Linklater—Had you no apprehension at all ?
Mr. Pellatt—None.
Mr. Linklater —Wm there no account which alarmed yon,
to which you took exception I!
Mr. Pew-1 was alarmed at one and left for that mason.
I attended a board at which somethlncike wAil lent
to the Welch iron-works, and a mac larger advance was
&seamed. I contended against the large loan, and carried
the board with me. At the next board I was surprised
to find that the finance committee had lent the
whole sum nand by the board. Shortly after, I
went down to Wales, saw the works, and was
astisfied that it was a lodag concern. I returned, and
sold my share, on the Stock Exchange. I don't think I ever
went back to the board. My mason was that I thought they
were going into a dangerous unblinking transaction. (Ap-
plause.) My resignabon was on the let of November, 1850.
After returning from Wales I did not communicate my rea-
sons for retiring. The directors knew enough from what I
had mid at the board before I went to Wales. A Mr,
Durnelar and a Mr. Swift werethe parties first connected with
the loan to the Welsh works. I did not tell Mr. Cameron
that he ought to discount these persons' bills. I think not.
I was not aware of their application for discount. By the
" application book," it appears that on the 14th June, 1850,
Mr. Scale applied for a loan of 5,0001., which was referred to
the solicitors; and on the 26th it was agreed to if the secu-
rity were found rofficient. Scale was then carrying on the
Iron works in Olemorganshire. I assented to a
discount of his bill foe 91301. in September, 1850,
and some other bills. That la the account which has re-
sulted in the rain of the bank. 1 did not object Lc that
amount, but to a subeetinent one, much larger. I cannot
refer to any entry in the minutes of my objecting to further
advancee, but I did so. It wee soon after that that I went
down to Wales. The proposal for the second advance was
&cured and negatived ; but the adman° was made not-
..

vir=aisr—,lllU ouch revolution appears in the book.
Mr. Poilatt—That is no Dolt of mina. On my return
Berm Walls I draft think I made any emonunication to the
dirnagerea I did not Mats that parttime: romon for my
Iteinteg. I ealleemed my laity te e. Wategor (dated 31st
Oa shy, WIN sad eistwi to my MO= for retiring my
vest el/ties, and mempodem la ether ermonercial boards,
WI Amid to the min wed womb.= ea which the
beak vet Itemied. sad its improving
Mr. Linkiiier—Not one word gout the Welsh mines ?
Mr. Peibill—Ne. I said there wee att. I said that owing
to the umbsoling aohme ti the atommetioa it ems dangerous.
I 41Id admen toy
_itireillifine I said my dome arid got
the miry_ , lott I let my tames ger some time Is the bank.
• Unklatar—Did yam set dew do your mats were
mold to a purchase bad by the Mak,
Kr. Pol.it—No. I bum my inaier's letter showing that
they were sold in the millnary waff. I sold these voluablo
alarm, on which 601. had been mil, ilw 471. I had not been
a party jam before to Inviting • prendlon of 21. on slime.. I
wan not aware that the Mrectors bad tried to bow new
shams eta premium, during my time. By the minute of
December 14, 1849, it appears that each a revolution was
1741 but it never was done. When I left the bank in Oct.,
thought that Mr. Cameron owed the bank something.
I have a statement of what he and others owed shortly before
I left. It was given to me in confidence at the time (Au-
gust, 1850). Mr. Walton then owed on his discount account
9.3001., with a credit balance on his drawing account of
1,200!. ; Mr. Ritchie, a director, had a lean of 6,000/, wen-
rity Alabama bond.; Mr. Mullins, 3,000!. ; Mr. M'Ciregor,
1,0001. ; Mr. Gwynne, a credit of 3,0001. ; Mr. Marrows
(partner of Mr. Eadaile), 2,6001. ; Mr. Cameron, mob credit,
3,000/. At the time the advances to various directors and
ofiloers amounted to between 26,0001. and 30,0001., including
their dimosuit would& I thought the a/cordite good. I
have not Inquired wballaur as amounts have diminished. Of
mums you don't essay mass there.
Mr. Linklater—No, no; no ono acmes you of that.
n.
(Cha)
• Pellatt—Os the Mbar Yak my soh account will
show that I have aided the bah tomiderehly.
Yr. Lheidstar—Be Iltti Mal minset you of taking any of
the bask Milt that I have set emabelmi into your accounts
(Cheers.)
Kes
ideas ridinti—l whiteny le S. I should be glad to
hem the awe disetwei. 1 tee my two we smoothie
of the 'woe committee. Winerl wait es t the pot•Ess