Northern Times.
Liverpool, Merseyside, England, 1857-11-28 00:00:00

considered to be quite safe. The stoppage of the District
Bank is likely to prove the worst calamity that has been
known in this district. The absolute loss, it is conjectured
by well-informed persons, will exceed .E 1,000,000. The
directors and leading shareholders have been sitting with
closed doors all day. Nothing has transpired. The meeting of
shareholders takes place in a day or two. The Branch Bank
of England in this town undertakes to assist Carr, Palmer,
Hutt, Bowes, and Co., Marley-hill Collieries, Nicholas
Wood, Black Boy Collieries, and other coal owners and
large manufacturers doing business with the District
Bank, so that some thousands of wurkmen will be paid
their wages on Saturday, and they will remain employed.
Mr. Hodgson, from the Bank of England is coming down
to see what can be done to relieve trade.

(From the Newcastle Chronicle of Friday.)
The shareholders are 402 in number, and, as will be seen
in the list of them which appeared in the London. Gazette
in February last, they comprise a number of the wealthiest
and most respectable persons in the district. There
cannot therefore be the slightest doubt that the depositors
and other creditors of the conc3rn are amply covered, even
were the liabilities of the bank many tines doub'ed ; and
it is to be hoped that the public will see the necessity of
moderation and forbearance uttil the directors are enabled
to liquidate the claims upon them—a step which, all
persons may 'oe assured, -will not be delayed a single day
longer than is absolutely necessary.
It is said that the average weekly amount paid for wages
a'one through this bank is not loss than £35,000 ; but we
are glad to learn that the branch Bonk of England, as well
as the ether banks in the town, are rendering the. utmost
assistance fn their power to those extensive establishments
which are temporarily inconvenienced by the catastrophe,
and we hope that no serious suspension of trade or employ.
talent will occur in the district. The directors and several
of the wealthier shareholders met yesterday for the
impose of considering the beet means of resuming the
business of the concern without delay, and we understand
that immediate steps will be taken for the reconstruction
of the bank upon a new and extensive basis, which, it is
hoped, will meet with public confidence and support.

MEETING OF BENNOCH, TWENTYMAN, AND
RIGG'S CREDITORS.

Yesterday afternonn, a meeting of Messrs. Bennoch,
Twentyman, and Rigg's creditors was held at the Gui dhill
Coffee-house, London, for the purpose of receiving a
balance sheer, and considering the general affairs of the
firm. The meeting was very numerously attended ;
upwards •of sixty persons being present. At first there
was some difficulty in obtaining a chairman, several gen/e-
-men who were put in nomination. including, Mr. Eaton,
one of the largest creditirs, having declined to act in tlut
capacity. Ultimately Mr. Foster, a cash creditor, accepted
tt..e cffice.

Mr. Parrinton, of the firm of Parrinton, Eustbury, and
Co., accountants, read the balance-sheet as follows :
Drs: To credi'ors, as per list, £167,552 5s 101 ; less
securities held by them £6.722 5s 3d—X160,830 Os 7d.
(In the above claims £50,950 lls 91 is included deprecia-
tion in the value of silk in the hands of the brokers.) To
bills accepted Li- consignees, £99,663 18s 91 ; less bills
fully or partly secured by goods on hand, £62,680 13s 61
—X36,983 5s 81; to liabilities on bills receivable dis-
counted considered good, £127,511 14s 101 ; ditto bad,
£23,547 6; 11d; less security held on account thereof,
£550—£22,997 6s 11d ; liabilities on guarantees in
respect of which it is considered there will be a claim
of £3,000; creditors of Messrs. Lovatt and Gou'd, whose
debts Messrs. Bennoch, Twentyman, and Rigg, have
undertaken to pay £38,884 3.21; total, £257,694 15s 111.
By stock in trade in London and Manchester, cast
£65,768 5s 81, estimated at £39,193 183 41 ; book debts,
good, £41,357 53 2 ; le=s debts on consignor's account,
£10,191 Os 1d—£31,156 53 Id ; book debts, doubtful and
bad, £16,267 18s 1d; estimated at £5,057 15s 41 ; bills
receivable on hood, £7,218 73 ; so portion due to con-
signors, £435 13s 9d—£6,812 13s 3d ; cash in hand and
at bankers, £874 13,41; by cash,at bankers, £2,023 16, 41;
deducted front their claim of £5,000; fix, urea at Manchester,
£154; furniture, crsce., at Wood-street, £3OO ; shipments to
Melbourne, Sydney, New Yo:k,&c., amounting to £4l 021
5 lld ;- subject to advances and claims thereon £20,163
1-05-1d—£20,857 158 101; estimated at £12,794 8 s 31 ;
value of shares, £lOO ; securities deposited with creditors
and deducted per contra, £6.722 55. 3d. ; leases and fix-
tures of premises 77 and 78 Wood-street, and land in
Silver-street, £1,400 ; stock, book debts, utensils in trade,
furniture, &c., of Messrs. Lovatt and Gould, of Leek,
£4,382 lls. 71.; equity of redemption in freehold land and
mill of Messrs. Lovatt and Gould, subject to martg ige of
£lO,OOO, £102,228 ss. 23. less rent, salaries, &c.. £7Bl
11e. 81—Total, £101,446 13s. 61. ; deficiency, £156,248
2s. sd.

Mr. Parrinton ad ,led to this statement the remark that the
firm commenced business in 1848, Mr. Bennoch having a
capital of £1,457, Mr. Twentyman .£2,182, and Mr. Rip;
-£5,700, making together £9 410. This capital went on
increasing until it stood at £38,247 on the 24th December
last. The misfortune of failure had overtaken the firm
through allowing parties to overdraw upon them in respect
of silk and ocher goods, ond becoming liable for the debts
of Messrs. Lavatt and Gould, of Leek; amounting in the
whole to £22,977. The two other principal losses had
resalted from the failure of two firms, one in Derby and
the other in Coventry. In 1846, the firm of Reid and Co.
was established at Derby. It consisted of Mr. Reid, cf
that plaCe, who put in £3;000, and of Messrs. Bennoch and
Twentyman r.ho put in £3,000. The firm of Bennoch,
Twentyman, and itigg, had been drawn on by this Derby
house to the extent of £32,323, bat the goods consigned,
were not worth more than £14,278, and hare, therefor-,
there was a loss of £18,278. In 1836 the firm of Taylor
and Co., was- established at Coventry with a capital of
£l,OOO. Bennoch, Twcn-yrnau, and ei g, had been drawn
upon by this house for £18,750, but the goods consigned
wero now only worth £11,961. The Coventry firm were
als ) cash deb!ors of the Landon house to the extent of
£10,637, and the less by the Coventry firm was put down
at £17,427.

Mr. Reed, the solicitor to the firm, gate some explana-
tions of the private estates of the three partnev, and then
observed that since the balance-sheet was made out the
assets had become depreciated 10 per cent. The'proposal
be had to make on behalf of the firm was that the estate
should be liquidated under inseection until it had realised
a dividend of, say, 6; in the pound ; and that then the
insy ctors should be a' liberty* to determine whether the
liquidation should go on, or' whether it would be better to
accept any comprotd.se the firm might in a position to
make, and so end the matter.

Ultimately it was roiolved that this pronosal should ba
accepted, and Mt s3rs. DaraLt, H. W. Eaton, J. R. Foster,
and David mans ware appointed inspectors.

DISTRESS IN MCDDLErON.

The broad fancy silk trade at Middleton, Tmge,
Chadderton, and its vic,nNes, is in a more depressed state
than it has been for the last thirty years ; the weavers of
mixed goods have been reduced io their wiges during
the last twelve months nearly one-half, and many of
them are obliged to take provisions instead of money
for their work. There are alsa nearly one-half of
them destitute of any kid of work, and in many
cases whole families are literally starving ; it is true,
however, that subscriptions have been made amongst
the more wealthy es the neighbours, and those who have
nothing to resort to have had meal and other kinds
of food distributed amongst them. During the last
and present week, the members of many sick and burial
clubs have been obliged to draw the mmey that should
have been paid in eases of sickness and di ath ; and i.
is feared that some of the clubs will have to be broken up
if an alteration dces not speedily take place for the better
The drawing out of the clubs is almost general, and
meetings are held almost nightly at these sick and burial
societies. Those who are employed have not mere than
three or four days' work per week, except in a very few
cases. The shopkeepers, and other small tradesmen, make
loud complaints, and we are sorry to state that distress is
alarming in the extreme.
BIRMINGHAM.

We understand a petition for private arrangement was
brought info the Court of Bankruptcy, on Tuesday, in the
case of Messrs. Rose, Higgins, and Rose, and in that of
Messes. Fetcher and Rosa.-Biriningham Daily Hews.