Northern Times.
Liverpool, Merseyside, England, 1857-11-24 00:00:00

TIN ROYAL BANK OF AUSTRA.LIA..

nn S tturday. a meeting in this
.matter was held before
the Master in Ca .neary Richards, to consider the claim
of Mr. Benjamin Wood, formerly of Newnton House. near
Tetbury, Gloucestershire, and now of ,Brighton, collector
of rents to Lord Seffolk end Lord Harry Vane, upon two
of the debentures of the bank for 300, The claimant-
•alleged that he had purchased these debentures in March,
1855, but had not brought lorward his claim at an earlier
period on account of other cases similar to his being
under discussion. Mr. Mark Boyd was also examined
as to the formation and the transactions of the bank
He admitted that his brother, Benjamin Boyd, had taken
a large amount of capital belonging to the bank ou• to
Australia in his yacht the Wanderer. and had never slim.)
been heard of. Some of the directors had five hundred
shares each, on which they paid nothing. The witness in-
sisted that a balance was due from the bank to -Benjamin
Boyd and himself but on being pressed as to whet her a
sum of £60,030, for which Benjamin Boyd had given his
promissory note for six thousand shares, was taken into
account between them and the bank, he said he believed
it was not treated by the firm as a debt at all, and he did
not recognise it as a debt ; and with respect to a sum of
£lOO,OOO which had been borrowed by Benjamin Boyd of
the bank without, their assent, but which they afterwards
assented to, he admitted that that sum had not in any
manner been taken Fto account as between them and the
bank. The Master, at the close of the pi ocecdings, said,
without immediately expressing a judicial epniou on the
case, he could not avoid observing that the' very indirect
testimony given with reference 'to so large a sum as
.£60,000 would not fail to press upon his mind when he
came to 'consider his judgment on the subject. L
appeared, during the investigation, that the bank had
failed for £400,000, one half of which had been borne by
the shareholders in the shape of calls made under the
windingetp• acts to the extent of £122 p:e. share, the
subscribed capital being only at the rate of £5O per share,
and in some instances • several of the wealthier share-
holders have been forced to contribute £lO,OOO each, -in
consequence of the mismanagement of' the undertaking.

THE WOLVERIIAIIPTON BANK FAILURE

IMPORTANT DOCUMENT.

Darintatiens from the body of shareholders, and from
the Chamber C gurnerce, have waited up in the
directors of the bank, urging upon them to prepare some
extensive measure of relief from the present difficulties.
The shareholders met on S►turday, and sent their
deputation about three in the afternoon. These gentle•
men represented to the directors the feeling of the
meeting that they should raise as near £200,000 as
possible from their personal sources. The directors and
Mr. Henry Hill have completed their examinatAcn of
the books, and have elaborated the result, of their search
in a very important and lengthy document, which they
will submit to the shareho:ders to-day. Our correspon-,,
dent has been favoured with the privilege of making the
following abstract.

" The- directors announce with pain that they were
unaware of the extent to which the manager of the bank
had discounted and mail! advances upon paper that never
ought to have been received at the bank. They furnish a
statement which they believe to be accurate, as far as,the
situation' can at present be realised, and this statement
shows a detieit of £32 000 No bank can exist without
c mfidence and capital, and when the shareholders see
that no.less a sum than £497,000 is held at call (without.
that sum is allowed to remain for a time), the directors'
efforts to resume operations will be fruitless. If the
above sum is left in their hands, the directors have littie
fear for the fniure; but, if not, they cannot undertake
the re•commedcoarnt of the bank. The directors are
willing to lend £50,000, and they believe that £250,000
more might be speedily raised, and both would furnish a
sum sufficient tor current business. Tile directors also
advise a remodelling of the board, and to close for two
years all transfers, except in cases of insolvency or death."

MEETING Cl' MTE,,snS• PERRY'S CREDIT3RS.—The
of 111,ssrs. Perry's creditors was numerously attended
on Soturd,,y. Philip Williams, Esq , presided. The
accounts presented show a balance of over lOs in the
pound. A crirnmittee was app-d%ted to go further into
the accounts, and the tneeting adjourned for a fortnight.
The town was very orderly oo Saturdly night.