The Express.
London, England, 1850-01-24 00:00:00

Bank. Witness still objected to eater into the beak, but
ea stating the amount of his property, Mr. Cuedll said
they need not fear and offered to start them with 1,6001,
ea some of his dec de being deposited. He received 1.2001.,
and pelt' it into Sturt's hands on the morning the bank was
Wilted. Mr. Coda said he hem Stun well; was a
man who mien he touted with untold go:ll,—but he knew
ambles shout his property. Toe teems of the part
wove thee arranged, oa the way from the
me Bank to 81. Albans, and afterwards embodied in a
letter hen him to Shut. The distinct understanding was
that witness was to incur no responsibility whatever ;
Start was to keep the books, and famish him Wince-
attests once • quarter. That was his own propo-
sal. lie was to have a sales, of 3601., If the
profits yielded so much. Had never received any
balance-sheet from Start, but was frequently assured by
him that the bank was inying, and doing boner than he
expected. In March, 1846, he made& formal application fen
a statement. with a view to disentangle himself. Start said
it was a devilish easy thing to get into a beak, bat a devilish
hard one to get out. Finding that money was continually
going out, over which he had no control, he got alarmed,
especially owing to the litigation of Stun, who was indicted,
and also had an action for libel brought against bins, iu
respect of a letter he had written to Sir !Met Graham, then
secretary of state. There was a verdict against Stun for
1001. ; and the costa, from first to last, wen 6981. Witness
had no concern in that matter, except as local attorney.
Never authorised S ore to draw the costs out of the bank.
The indictment for the same affair resulted in a penalty of
3001., which was paid by a cheque on the Comma' Beek,
drawn by Stott, contrary to his (whims's) directioos.
Another action against Start, for trespass led to oats
of 2001. In all, 2,0001. had been paid out of the
partnership funds for Sturt's Bilged's. This at
fected the stability of the bank. The out mere'
balances immediately fell off ; they all said Start must be
mad. In August, 1847, basing given his mother en under.
taking to resign the boa k business, he gave Stun notice to
that effect, and then obtained from him, after much pressure,
a statement of the bank affairs. He immediately determined
to ClOlO the bank, and gave Stun notice of dissolution. This
was on the 2Sth of October, 1847. It was afterwards
'stetted, under, his signature only. The bank doors were
kept open on the tad of December, 1847, against witness's
wish. Start previously opposed the books being put in
the hands of an accountant, sayine, if that was done, his
character as a banker was gone for ever. The account he
had furnished showed a deficiency of 1,6001. ; and witness
said his friends would make that up, if Start would quietly
retire. He refused to give up the bank books till they were
taken under an extent by the sheriff 'a officer. When the
ready cash in the bank was demanded, Stun refused, and
said he should account for it at the proper time. The books
wait placed in the hands of Mr. Begbie, the
accountant, who was then engaged in winding up the Se
lisbury bank (Brodie's). Witness and his brother could not
form the slightest idea of the position of the bankrupt from
the books. Mr. Begbia's inspection showed a deficiency of
2,2101. The books had not been posted up. He prop, sad
to set apart the whole of his own property to meet the deft
clency, except his books and a few book debts. In the state-
ment subsequently exhibited to his creditors, he had not in-
cluded his brother's debt of 1,9001. He had every reason to
believe, if the securities held by the Commercial Bask had
fetchei, anything like their value, that he should have had
enough to cover the bank deficiency. He had his proper
revalued in Dec., 1647, by Mr. Page ; the result was 6,2001.,
which was communicated to the creditors ; little more than
half this had been realised. At the meeting of creditors
in January, 1848, the debt to the C.minereial Bane was
named, but it was stated to be covered. In pureuence of
the resolution of that meeting. he paid debts under 301.,
1,5501. for the notes in circulation, and other sums, in all
about 1,8001.. hate ng raised the money by mortgage on pro-
f:softy not included in the Commercial Bank's stmunty.
The property so situate was estimated at 7,2001. On
the stoppage of the bank he gave notice to leave
his house, sold his horses, discharged his servants,
in fin broke up his establishment. He had a family of eight
children under 12 years of age. His average expenditure for
five years previous to 1848 had exceeded 8001. a year,
and had always been within his professional income. He
I bad had a surplus of 1001. to 2001. every year since 1837. Of
the large sum he was said to lows overdrawn hie account,
near 6001, was for interest. He had purchased the Auster-
hills estate with a portion if this money, 1,1001. ; the pre-
meds of that estate had been afterwards applied to the per-
poem of the bark. He had expended 7001. en his offices.
About 2,000/. had been applied to his ordinary expenditure,
swing to his having anticipated his receipts. He had paid to
his brother at various times 3741 on account of a larger
ism due to him; and 4002. or 5001. for repairs of property.
Min Mare ma's deposit of 1001. was immediately pad into
the bank. It was on the 6th of May, 1847. She objected to
go to the bull. Her cheque would have been honoured at
say time before the bank stopped. The resolutions of the
meeting of crediton were signed by Mr. R. Smith for Mr.
Beaumont. Afterwards he learnt that Mr. B was shout to
alike a docket against him, and in Nov. or Dec.,1848, was
mewed with a writ. Witness defended the action, because
he thought Beaumont had no right to get id in full, and
did not wish hies to take his furniture—a he bad. Beau-
mont had since said he was sorry he had brought the action,
and hat. sines e mployed witness professionally. About the
end of 1848 he first heard of Kinder's bid ; it had been dis-
posed of in the way described by Sturt, who never con.
stilted him about anything of the kind. Mr. Talbot Gomm,
one of the assignee', had attempted to tamper with him, by
asking for a note of hand ; others had called on him, and
advised him to get the bankruptcy superseded. Other credi-
tors had done the same. Had never said to Start that
they must take care of themselves, but had said he hoped
they should be able to pay every one, and he would sacrifice
everything to do it. When he was instructed to pay the
outstanding notes, Start said he would pay all that were in
his pocket, and afterwards wrote him from Boulogne, in
September, 1848, threatening to circulate further notes; ono
of 201., which afterwards came in, was the immediate cause
of his bankruptcy. Stutt's letter was as follows •
Boulogne, Sept. 28, tact.
Bir,—Havlng the authority of Messrs. Amery and Co., for stating
year gresesilage in Chancery against me to be a trend upon
tbe emits alb that both ynuraelf and solicitor (to which I beg to add
ales) maid be struck theft the rolls upon the fact being brought before
the mart —having other documents in my poesemion proving said
I.llato be bared upon the grossest perjury—and, further,
gaisselved a summary of your conduct from one of the 'awe-
ten— ion tt due to add that all you have advanced of your partner
lam compthed (though reluctantly) to say la true. I beg you die.
thistly to emieround that unless I am paid the amount of 2804 being
the nine of my furniture, of shish 1 have been through your ma-
&Mations deemed, on or before Souris, neat, that I shall forth-
with dyne of the whole of the securities, note. (1,200/. or 1,3001),
M. Ma, la my Mr* or at present under my contra for the highest
on law alai.. I adopt this course advisedly, for the treble object
of et ails Make (as far a. it goes) to my wife and children, who
hew Wale eruell treated in order to hide (as you are aware) your
math% mad in order to test your position—tor you must then either
gager go hito the Gazette, which I am ranch mistaken if your W-
ebers sew dare let you do. The claim for 1,800 f., en the port of your
inear wen, Is more than suspicious, when 'all the securities held
kg Wm swim whatever he may hare advanced—viz., the properties
sI Misi mil Webb —I am, sir, your obedient servant, G. STOLL
Sherd Gibson, L-q., St. Alban's.
By Mr. Bagley—had sleeps kept accounts of his expendi-
tell% but did not unders'and accounts well. Was not aware
that Stunt had no capital; thought him to have 2001. or 300!.
a year. He went into the banking business entirely for
Sturt's benefit. Did not think it necessary to make any
inquiry about his property, but only wished to benefit him
erne his family. He first applied for a statement of the
bears affairs in March, 1846. He had a private pass-book,
aril seed to send it to be made up occasionally—perhaps
ewes a year. Stunt's litigation commenced is 1846. Did
not demand a balance-sheet on that account. Stun always
gave him to understand that things were going on well,
beyond calling his attentioa to the state of his account. Stunt
told him, at the commencement, that he should treat his
account the same as that of any other private customer. The
sum of I,oooi. which he had paid into the Commercial Bank
was raised by a mortgage. At the end of the first year Stunt
had represented the profits of the bank to be between 4001.
and 5001. His brother was a good accountant, and was clerk
of the peace for the county of Essex. Had always
been on the most friendly and happy terms with his
brother, and hoped be should ever so continue. Had made
no bigamy, at the close of the second year, as to the affairs of
the bank. At the meeting of creditors, in January, 1848,
he put down his private estate at 7,3001, which deducting in.
cumbrances of 1,6501.. he proposed to set apart for the liqui-
dation of his debts. It was then specified what deeds were
held by the Commercial Bank. He could say most positively
that Mr. Walker told the creditors at that meeting four or
five dates that certain deeds were in the h suds of the Com-
mercial Bank. No dividend had been made to the creditors
of the bank, nor had they obtained anything. The rearm
why Miss Marcos had nut received her interest at the bank
was because she would not go near Stunt.
At this step of the proceedings, Mr. Linklater stating
that he should have to examine Giblets for some hours, the
inquiry was adjourned till Monday.

INSOLVENT DEBTORS' COURT.—Yroraupsi.
Dimas raw Caw Cowsnouorsa.
Ix Ilia KLTTES or ARTHUR. HILNICY
LIMAN EITAISS.
This lasolvent, whole ease was reported In our paper acme
time back, again came before the court. The circumstances
of the case were of a remarkable character. The insolvent,
who had been a seaman, alleged that he was a descendant of
Bir William Leman sad a claimant to the Leman estates.
Thus were other efaimanh, sad a Mr. Newnham, who had
married into the family, had given a bond for 100,0001. to
the parties, payable on recovering the property. According
to the insolvent's account he lad lately ailed as agent to
Newnham, and in that capacity had dot passamicia of a
house in Great Prescott-street, ClemanmabAiside, and he
alleged that there were ksadreds of Mums in the sane
neighbourhood belonging to the Limn Mate. The boom
he bad obtained was claimed by Mr. Odpenhelas se a trustee
for a lady, and, after Delos kept out ',possession of the pro-
perty, he brought an amiss to reams the same, and the
iallithelat Mad los this witirt to get rid of the Simms, still
=posmegion, es dm allege ground that it belonged to
graham, from wheat he ha I received as agent about
30e. a week. The attendance of Mr. Newnhain was required,
and although the case had stood over for his attendance he
did not appear.
Mr. Cooke, who appeared for Mr. Oppenheiza, ho the
court would not proceed with the case until on was
given to the gentleman for whom he appeared. It was
really a sad state of things that one man 'should be kept
out of his property by another pretending soma claim to it.
If a man robbed another of an article he was punished, but
this man had robbed Mr. Oppenbeini of his house, and
win kept him at defiance. He trusted the learned commis-
sioner would put • stop to such a case.
The insolvent was asked the reason Mr. Neernhani was not
in attendanos, sad could give no reasonable explanation.
The Chief Commiridonm. said he should put into fora
the deimsdnation he expound when the ease was lad he-
fore the wart, and that was to adjourn it alas die, without
preteeties.
The saes wag acenrellegly adjourned sine die, and with-
wt proteeths. The temigteat is now liable to he attested.