The British Press; or, Morning Literary Advertiser.
London, England, 1825-11-23 00:00:00

RI)YAL 57A.V.V.4
ASRI AND
lON
A BRITISH MINING
SOCIT.

A wry numerous mowing of the Subscribers to the above Corn.
was bald yesterday at the City of Loudon Tavern, Ilishops-
gstoereet.
was convened for the ptirpose of ". Inquiring into
the amrstien of the Company and the state of its and of
tKsoping oproures to enforce either the rwrformanee, 011 the part
tit wornow, of the Prospectus bunted by them to the public,
or.
(watt, to compel restitution of the deposit money obtained
10
tat thereof."
NStr.
M t
t, e•s F •..q•• wits called called to the ("hair.
ge posit/sow—Refine. Sir, I wry any things," to the objects
,_idoca we ere sore immediately ariembled, I wish to repel an
"s wade ow the in the public prints, and beg to call on Mr.
eZita4imur ,tune Mice this falsehood has proceeded, to cane
firawd lad justify it. It is to the effect that I offered to forego all
room ageinst the Coronary. provided the Directors would
wriest one hundred of try shares, at ei. each ; and that, in the
a/doodah* ao, I would pay the call for the additionsl de-
cot on the
any
hund have, by me. Sir. I never made or
',limited any such offer. I in the ',Odic prints, declared
owe statements to be . grossly raise:" and I now repeat that they
iv (Ilse from first to last. (Hear. hear.)
Mr. Bg r AAA Caolicitor to the Company) said, he did not attend
ibis meeting proftssionelly, bat to answer any observations that
might fill from Mr. Robertson, relative to the ointment of which
be had just complained. The whole matter originated in a tom-
,,,estion made to Min. but whether or not the individual who
rule the communication had the authority of Mr. Robertson for so
dstrg he was unable to say.
Mr. ROBEItTSO laid he held in his hand a letter which would
,errne all douhe on that bead. The letter was addressed to Shaer&
Denham and Soo, and was as follows:
GENTLEatin—I hive rend in the RrifferPress of Saturday.
deep 'tree, ail Advertisement from the Directors of the Royal
snooty Mining Company, inserting a copy of a letter written by
rat to tbe Directors. This, you must allow me to say, was highly
Impreoer, since the offer I made came, not from Mr. Robertson,
bet from me, as a menial Mend of all parties, be irierely se-
w:Amine therein, and I made the communiation to you privately
sal residentially.
.5 At Igm aiw3ys averse to disputes and litigation, I adopted
6,, line or proceedirig, though, as a shareholder merely, I had no
bodiesto doe; butt I am sorry to find my pacific designs ren.
deed/Waive by the Advertisement I refer to, and which I really
drib the Directors ought to' state was inserted by mistake and
kip spaapyrebenaion.
" 1 remain, Gentlemen, your moat obedient servant,
(Signed} •"Joits %Vitae, jun.
ate Dmarlatrert, Nov. 32, 1525."

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I hese (stir! Mr. it.) that therneeting are now tettisfied that I ne. I
~r ode or rathoristd such an offer. (Cries of " yea, yes.") The
tau vas atrophy this : after tie meeting at the Freemasons' Tavern.
on the Ilkh test Mr. Wilkes begged to Me me next day ; when
we met, M r Wilkes asked me if I had any personal hostility to the
Itirectora; I replied in the negative ; then, sant he, " you merely
Wilt to get back your money." I answered, " certainly nothing
mere"
Mr. Staines!! again declared, that from the manner in which
twee; see communicated to him. it was quite impossible he amid
gm whetticr it came from Ir. Robertson, or merely from 11r.
Wilke. It was due to the firm to which he helmged to declare
that the matter did not originate with them. lie begged to ask
Rh Robertson whether he Aid not at all events acquiesce in what
had fallen from el r. Wilke?
lit. ROBERTSON-1f you mean to ask me whether I should
suit to get back my mor.ey, I have no hesitation in telling you
that !should be most happy to recover it. (Hear, hear, and a laugh.)
yr, K. went on in say that he had shaped the requisition for calling
the resent meeting, so as to exclude all those who had sanctioned
the moceedings at the Freemasons' Tavern ; he hoped, therefore,
tutees, were now pettiest none who had not well weighed the
necessity of getting back their deposits. (Hear, hear.) It must
appear evident to every person who paid the slightest attention to
the subject, that the Directors bad deceived the shareholder*, and
asthey had hese friend to deceive them in some matters which had
cam to their knowledge, it ails no harsh conclusion in suppose that
tray lad been equally deceitful in other matters which hail not yet
hem made public. (Ilene, hear.) Ile was prepared to show that
tiny intended to keep 4000 for themselves, except 800, which
wen !riven to .Mr. Henricks, the projector, and alien they de-
mented the deposit on his share, he replied, that when they
had pled it on their own be should pay on his. Now, as to the
Listen hundred shares, which were reserved for the counties
et Cornwall and. Bevan, if these were s much sought after
by istisiduals is these counties, why not give them ? If any
•tich feeling exigent its Cornwall and Devonshire, why did not the
Doseces buy up the sham for them when they were at a dietionet
in the market ? Mr. H. proceeded to remark at some length on die
ltreorc et the late meeting, anti obeevyral, ,that it would have been
runcli inert satisfactory to the ShareboMers tmbear of some imme-
*Rawlins • of I in. the
.pilnert, tl.an be amused, as they
whit( f Cdps iverghirrg IBA' ounces, which were Hid
t • Yielded by one of these mines some years
MAN ..i. •ti , .is". 1.:., li 1,,, -
.111),XXlisdita • 4hal,when ils bad the honour of addressing
cm
the llfattillgat the, astute Tavern, he stated not only hist:mi-
na is' to,what, this, , .rectors had done, but the legality of their
withheliNtrg the 4 charts. That opinion was then controverted
bespefilitsier4l edema!) present. The result, however, proved
tittle ( b11e.,K.) was right, ash,. had now the opinions of the At.
twos and lolisitor kleneml, which, hdlycoinettled in what had pre-
many fallen frau) hisn,:, and,es the velde of an opinion must de.
soden the truth of the facts on which they acre founded, he
!mid read the case at length to the meeting, whn would then be
Able te ptitge whether the facts were distorted, nr whether they were
used es a person *sienna to come at truth would submit them
The elfe•Wid before both was precisely the same, and was U
bikes:—

"t *me in the spring of the present year an A IDOCilitiOD
est insted a) have been formed for the purpose of purcheaing and
rot Err; comb mines In Cornwall and Devon, to be called the
" Stannery sod British 31inIng Associcion," the capita to
he fls,oltlt. in I COO shares or earn.

"Tawitytrenr flekLyiected. and consequently had the es.
tinned'tfkw of tlaselairta. By the accompanying Prospta
takes also by adverthiements in the Thies and other daily papers,
spplhartions 14 !hares were to be made to the Bankers or the :•4oli-
Mon of the Associetion. In toff ietpientc of such advertisements,
sot lea than 211.00 d shares were applied for. The Directors. how.
Chi, either with a view to their own personal advan•oge. or for
remote which they do not think proper to make known, kept back
4.04 sham, issuing to the public only 6,000, upon which a deposit
hat herr, end of 51. Tier share. By this course of proceeding, only
UAW. has been paid instead of 50.0001., the amount of the depo-
na upon 11,000 shares. the number originally contemplated.
"la this situation tine Directors have expended nearly the whole
al thekteooL in the purchase of mines, and by other large pay-
ola's, and notwithstanding the whole of the 500.000/. named ir.
Ow ',mentos has not yet been subscribed for, or any Dead of As.
tseatlost .
executed or even prepared. the DirtClll,s have made a
tanker eall art -.!1. per share, not upon the le,ooo Shares, as orielscale .
annmened by the Prospectus, but upon those roily held by
the pubite, and on which the deposit of 5/. per Share has been
trade. This eircnnistarcc, with many others, unnecessary to men-
tion, hare led the shareholders to call for the aetnunts of the Com.
Pony, and from winch, when produced by the Directors, it appears
that they, in addition to the first purchase of the mines, and other
incidental expenses, have paid a sum of 2,a001. to some person as
Inc prejeene Cl the Association, and not satisfied with having kept
hack 4.00t1 shares, the Directors went into the market and actually
mai-Maya 1.000 Mart., at a small discount, for the cost of which
shires di!, take credit as a payment made on sconunt of the Asa%
Cation If Do less a sum than 4.7001. The present shareholders,
timlliorr, who have paid thoir deposit upon the faith of the Com-
psoy. homing 10.600sbarei of 30 . each, assisted in the prospectus,
via have their risk increased Just double the amount they con-
templated, and that at the arbitrary tilecretion of a few individuals
who litre elected themselves the Directors of this Association,
an I.lls never. called a meeting to authorise any one of their acts.
117- the part of those who have paid the deposit of 51. per Share
!par tKtoto of the original Prospectus, it is contended that the
Director; hare no power to alter the terms of the said Prospectus,
or to make my paynt ...to (except those necessary for the eatablish.
memo( the Aanicaanoso. entil the whole amount of the Capital of
;'O.OOlll named in the Prospectus has been sobscribeil few, and the
POsita paid upon the WAR* snares—ronst less hod they. autho-
ffty temke so large a payment as 2.5001. to the Projector of as As.
°Pt even now formed ; and 4,7001. for toe purchase yf
trlt'ith havine been done previous to the repeal of the
• ewvmor.ly eallvd the Bubble Act. was altogether illegal.
Under they opir. pis rye ited—
depatit of 5L
of the out.
a further
'.OOOl. bas
upon the

ty 5
*". ••• 'tut* mese sirs-eminences, your opinion is requested--
" I. e. 'Whether due Subscribers. whortave paid time deposit of 5/.
ha ft.., their reapsetise shares, in cinfur.nity to the terms of the °fi-
n "41 PnsPecitlk, Can be held liable fur the payment of a turtlitr
i
;ririvi:Dryi 1
Novi :o:.l:;o.l:;i..,,t,:.m,p.....hredeteriihhet.a7:::.:llo:ll;:rotiit:ull threiiin.wp;7ll:istidzewroon.fretaseupeCtharmip;itil olpt!rd)m.uoooakel.ehtntaly:
ted
ri s for the nu•chu"e tut .11 roes, air the 2n thljl. to die alleged
i; e AsosAttrotal, seehaodrdbinelntomre rteibredmsfotollainel:thorsinieCTudir,ellie:ribeieft
fikrt 'l.•ired.
11 in " lily. iVbether, as only &OW Shaees have been paid upon,
rigile 'rites.' of likoutt the nuttilwr oft 4 mallY mused
its the Prospectus,
"1 'Min tit (11,4 Sitlfe% since purchased
by the Directois, thereby
so, •c'tztsastng the risk of the prrseni titirril.dders to double wh it wan
to. ~,„'",oP,titteld by the prospectus, such Shareholders ran withdraw
mad rliti^st the 1717recttohl (c„°,"`"1"..7.",1g". he„r:wal'lntenntne';',l.."3,ac,i.
.:- 4:. Pa tillurc liavne bee:receiver/licit: rawer hack such dt ',twit.
in hi ms LI money had and received ; and whether the purchaser of an
ig 1 '''Ptil tutocrib,r's in erest stands In any different or worse situ-
'int: than the oripiMil tiuisscriber himself.
Itther ' " 4thl
be W. And, failing such right of action, can the Subscribers
",?el the Prnjectois or Itirectros to refund the wioniesso expended,
' '"II
'^', rty up the dennsita on the 4,000 issued Shares, so as :ugu on
11l the AfteciatlOn on its original basis."
i
. THE ATTOHNEY-GENEHAIA OPINION.
Ht. It 41,,, not appear from the above statement, or the Prosper.
•I. ;
It 0 tut' t 414 the Directors possessed any authority to alter either the
sir.iiunt of the Capital, the number of wha ur, in fact, to du
is InT thine omit thelio ninemliernfShis ' wer'e Purchase:l. and
the 4 atntal au wle
bscribed. I think the Subscribers are not liable fur
Off 1:k PtYatent of the r het 01 or a per Shan, in the Present
alls .'t ef the Asaociatinn. Indeed, it dues not appear that the Iti-
r'4'e any authority to make a call fur limber payment ; their
- - t '... • -*