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THE BRITISH PRESS.

from the Honourable Court, which omelet without distinct injury to 'ADJOURNED FaIVAL EXAMINATION OF MARSH.
the Honourable Company's service be fulfilled? 'Whether, in case STRECEY, AND GRAHAM.
of instructions from the Honourable Cotter, the most irreconcile-
able to existing circumstances, consequently the most embarras- The final examination of these gentlemen having been ad.
sing, they have ever heard him remark upon the inimplicahility of Jammed to yesterday, at eleven o'clock, the room devoted to the
list, No. 7, was crowded as early as half-past nine o'clock, notwith-
the ceders ;with any irreverent levity P 'Whether, on the contrarg,
standing the Commissioners had to sit under another commission of
they have not observed in him an invariable solicitude to warp t te
eligernies of the juncture, as far as possink, to the Ilunourable I bankrupt Previous to that of Marsh and Co. At eleven o'clock the
. crows) Flaring increased to a great degree, the Commissioners were
Court's wishes, PO as that the latter might be satisfied to the utmost
truest safely practicable? These were the questions that Noble-
e
compelled to order the creditors, who wanted to prove their debts,
man required those Gentlemen 2reply to; and what he was now to t) to the table at the farther end of the mom.
shout to read was their answer. After acknowledging the receipt Mrs. Henderson proved a debt for 8141. Ins. Id. and fee 20001.
odd. This money had been placed in the Funds, for the benefit of
cf his Lordship's letter, they said--" To the two first of these
questioto, we can have no hesitation in replying distinctly and un- Mrs. IL and her daughters ; some time back Mrs. H. wrote to
equivocally us the negative; while we cart wit no less truth and Mr. Fauntleroy, who was the trustee, to sell out &00/., and a power
of attorney was obtained uconlingly, and the amount sold nut;
sincerity declare, that in every instance which haaconie under our
obsetvition, your Lordship's conduct has been ineraiably governed subeequeutlk however, the whole sum was sold out, and it mi-
by the principle stated in the last question. The tenor of your neared that s-e power of attorney, instead of being for Men. was
Lvelship's questin, s Las necessarily prescribed the limit to our fur a general sale.
'mixt r, end ha. restrained us from beanog testimony more at large The Act allows that, under such circumstoces the party can
to the lea:keit deterence and attention to the wishes of the Honour- prove against the lion, supposing the pertiabecOme bankrupt'.
able taunt rhich your proceedings have uniformly manifested, flie print' was accordingly allowed.
and to the restart anxiety evinced by the general spirit of your • Mr. Commissioner Law wished to know respecting the amount
administration to uphold their dignity and authority." Nnw he of about 60,0001, which, it appeared, had been in the hands of Mr.
wound oak any impartial person, whether in the manner of this Burton. by his own admission, at an examination before the Corn-
answer, there was even &shadow of hostility from these Gentlemen missiorers, and due to the Mtn of Marsh and Co., a few days only
towuds the Marquis of Hastings P The Honourable Proprietor previous to the stoppage of the house.
then referred to the minute, addressed by Mr. Adam to the An explanation was here entered into between Mr. Gordon and
Honoueeble Court. dated December 20, 11322, in which be Mr. Wilkinson, from which it appeared that satislitctory evidence
lamented the necessity of opposing the views of the Governor. had been given to them by Mr. Burton.
General, but he was consoled by the consciousness of having A Creditor here wished to know who was possessed of certain
performed an imperative though painful duty. The Honour. moneys toe large amount, at the time of stoppage? there was, ac-
able Proprietor next made quotations from documents of Sir cording to the accounts shown by Mr. Wilkinson, a 10g11°194,0001.
Charles :Metcalfe, is answer to the charge of inconsisterey totally unaccounted for.
brought against that Gentleman. He afterwards read extracts from A Lady, named French. applied to prove a debt for her hus-
Mr. Stuert's minutes, in order to rebut the accusation made against band; who raided, and had done so for some years, at St. Vin.
him of having contradicted himself respecting the character of cent's. The money was given by her husband to her and trustees.
Chundco Loll, the !Minister of the Nizim Government, and also for the use of beraelf and children ; the wife paid in the :trey to
with regard to his opinions as to the propriety of the 50 lac loan. the banking-house of Marsh and Co.
The Hun. Proprietor then replied to the übaervations made at the A Gentleman from Mr. Freshfield, the Solicitor to the Bank,
I lest meeting by Sir Charles Forbes. respecting the rate of interest Nine attended,
that had been paid by the Government of India during the Cover. •le Commissioner SPILAN GER said, they the Commiesioners
nor-Generalship of Lord Wellesley, and asked how that Hon. Ba- thought, in contemplation of the law, of no transfer having been
ronet had made out his Statement of 34 per cent. having bees paid ? made in the case of Hagan and ethers, that the Bank could not
NVIly, said Mr. IVtosrouo, he made U per cent., payable on the recover, and that this opinion was tortined by the decision in the
=huge of the securities ;-tit he (Mr. W.) did not conceive that case of Davis v. Bank of 4:lewd.
10 be interest. But the difference betocen that transaction and the Mr. Commissiorer Law said, the only difficulty they felt that
ow by Palmer and Co., at Hyderabad, was this --In the former existed with them in the case of Davis, was from the incongru-
ities, Lord Wellesley made a purchase of money; they said—" We ides in the decision, which made out that though the purchaser,
want so much moray, and we will pay you by bill*, at twelve through the forged tale, obtained au interest in the dividends upon
months to bear itderest and transferable into the Bengal Govern- that seek, yet the Fatly whose stock had been fraudulently dia.
mint Security." The' interest and the discount on the transfer posed of lal not transferred their interest ; for the first ques-
amounted certainly to 34 per cent. ; Lin if this had been payable non, as laid down by Chief Justice Best in this case, was aa fol.
bearly, then the Honourable Baronet would have been right ; but lows :
eing payable only fur one year, there was no similarity between The first question we are to consider is, have the stocks which
the two cases, and therefore not a fair ground for argument. Ile stood in the plaitatilra name, in the books of the bank, been trans.
thought that the question before the Court. if carried either way, leered out of that name ? iVe think that the plaintiff's property
would not throw any imputation on the Marquis of Hastings, and in the funds has not been transferred--that he is still the legal holder
he would state why he thought it would not. The thanks to the of these funds, and entitled to the dividend payable on account of
Marquis of Hastings by the ('curt of Directors, was passed on the them. He cannot, therefore, have a verdict on the first and third
22d May, 1820, and by the Court of Proprietors on the 29th. counts, and t' ere is no occasion for us to consider what verdict is to
The CHAIRMAN said the vote of thanks was in 1822. be entered for the value ot the stock which these counts state the
plaintiff has lost by an unauthorised transfer.
"" .. . .

Mr. W•snaontax observed, that that made still better for
his argument. He was going to observe, that the fint letter to the
Marquis, by the Court of Directors, was written only two days
after the vote, but now it appeared that the sot was passed two
years seer the letter. Then what was the inference? Why,
that the question now under discusson was an inching that was
taken out of that course of admiuistration which had met with
such unanimous a; probation from all parties. But it was said
that the Marquis of Hastings was thanked with a full
knowlege of these transactions. This was so in part, but
several circumatances had since been communicated that
were thee unknown to them; and if it should be denied to
the Court of Directors to alter their opinion on arriving
at this knowledge, then there would be taken away from this
Hon. Court the power of appreciating what actions were entitled to
reward, and what to censure ; which would in effect do away with
the vote altogether ; for the thanks of the Court was not worth re-
ceiving, unless that Court possessed the power of discriminating
what wan meritorious and what was not. The lion. Proprietor then
entered into a very full statement of the various transactions to
which the document's referred, and made his comments on them as
he proceeded. He particularly adverted to the policy that had been
observed by the Legislature towards India in respect to prohibiting
pecuniary transactions between Europeans and the native Princes
of that country ; and he adverted to the fact of Mr. Palmer having
sought to rev der himself not amenrible to the English jurisdiction,
by the plea of his being a native subject of the Nissen. lie there.
fore ventured to affirm, that from this and other acts, he was justi.
tied in saying, there had been much chicanery on the part of the
hoes* of Palmer and• Co. He (Mr. Wasbrough) thought the
terms of the license granted by the Governor-General to the house
of Palmer and Co. very vague and loose, and that the Noble Mar.
quis was chargeable of remissness in not ascertaining the particu-
lars of the loan which his license was to sanction, previously to its
being granted. But be admitted that whatever might be said of
the unfairness in granting this license, it was must evident that
when the Marquis grant, ti it, he certainly did it from the bee: of
motives ; for he admitted it was done for the purpose of aiding the
Nisam. He thought there had been a great deal of shuffling in the
accounts with respect to the fie lac loan, and that although this
house ha.) laid claim to much good having been effected by them,
yet these srcounts took away cursiderably front their merit. He
certainly did consider that the Marquis of Ilastiegs had been im-
posed upon by the representations of this house. But the question
, wan, whether the Noble Marquis ought not to have informed him.
self beer upon the facts before be adopted the measures he did.
Upon the whole, it appeared to him (31r. %Vasbreugli) that in
carrying the amendment, they would not be reilecting on the Mar.
quis. lie took it for granted that it would not expunge from the
records of that Court those high eulogiums that had been passed
upon the general conduct of that Nobleman. This transaction was
distinct from his general arts ; when those thanks were passed, the
greater part of the frets connected with this transaction was known,
but some were no'. If Hon. Proprietors doubted those facts, there
was another step to be taken—they should bring the persons who
communicated those facts here before them, and who would be
able to svelter for theraselves. But with regard to the amendment,
he ishca to remark, that all that the Chairman said was—We do
not accuse the elarquis of Hastings of any improper motive, we
admit his character to be unimpeachable, but we will nut suffer
our conduct to be impugned. This was the gist of the amendment.
It said—We do not censure the Marquis of Hastings, we do not
strike out of our records the vote of thanks to that Nobleman, but
we will not let a motion be passed that shall be a direct impugn.
mere of true own conduct. This being his impression, he should
certainly vote far the amendment.
General TRIORYTOX said, tbat the conduct of the Marquis of
Hastings was Celgaialy open to a charge of favouritism, but nut to
the Huu::e of Palmer and Co. but to Sir Charles Metcalfe. The
Gallent General then referrca.to various documents in support
of this nekton. lie had always thought highly of the Marquis
cf Hastings, and since thin discussion had taken place, be thought
more highly of him than ever. lie conterded that the provisions
of the Act of 37 Geo. 111. had been strictly complied with. That
reeourse bad been had to the legal authorities in India, and their
opinions acted upon. The parties were not directed by the Act to
aptly to authoeitun its Englaed at all. The 13th Geo. ill. re-
'meted persons in the British settlements from taking more than
12 per cent. But if 12 per cent. was allowed within our settlements,
it was not enough oat of them, where no guarantee could be had ;
bat if 12 percent. were considered to be enough out of the India
territories, then it would be obviously too much within those li-
mite. lie believed the Learned Gentlemen at home, whose °pi-
nkie,: had been taken on the point, had been surprised at the rate
of interest taken in India, but were not aware bow contrary
their opinions were to the Act of Parliament. l'or fifteen
yeera alter that Act had passed there was but ore construc-
tion upon it. But what takes place after that period? Why,
the opinions of Learned Gentlemen In England I:ad been
taken, who dale-red that the law applied equally out of the
settlements of India as well as in them. An opportunity
had been taken of these opinions of oppressing and ruining the
house of Palmer and Co. And all this cruelty was founder) upon
the reprenentations of Sir Charles Metcalfe, none of a hich he
(General Thornton) would assert were to be depended upon.
( Hear, heir.) The conduct observed towards that house appeared
to hint to be most evraoedinary. They were prohibited from
having any eommunicstion with the Nizane although he was their
creditor, and the Governor-Genera), Lent Amherst, directed Sir
Charles Metcalfe to inform that honse that no interest, either re.
trospectively or prospectively, should be made through the resident
from the Menne to their house. The gallant General then adverted
to the attack made on the character of the Marquis of Hat-tin es.
by the reports of Sir Charles 3letealfe. and observed, that it was
the fortune of great men to have calumniators. It was the case
with Mr. Hastings, and was now that of the Noble Marquis. lie
concluded by declaring his conviction of the purity of character
of that Nobleman, and of his intention to support the original
motion.
Mr. PATTVIOS rose and said, that he thought it might be
allowed to offer an opinion upon the subject, which be conceived
to be or the rely first invert:since, both to the interests of that Court
and to the Nob te Marquis, whose name was connected with it. It
wet not his ititcatien to detain them long, persuaded as he ass,
that most oldie Proprietors bad devoted some part of their time in
reading over the documents which hail been laid before them. He
particularly wished to be heard, because he desired to put the case,
as it appeared to hints, on a right footing. (Hear, hear.) ILlore,
however, he proceeded to nonce the facts immediately connected
with the motion: before the Court, he wished to say a few words in
defence of himself. Ile had been accused of inconsistency of con-
duct in mote platen than one. He was not at liberty, perhaps, to
make a stronger allusion to what transpired at another place. But
the gentleman who opened the debate (Mr. Posnder, had charged
hint with being it:consistent in having signed the letter from the
Cornet of Director in 1621, and then having brought forward a
motion to give the Marquis of Hastings an annuity of WOOL The
lion. Proprietor concluded a iusg speech b 7 appealing to the Chair-
man to withdraw the ameedinent, which. if passed, would involve
them all 'cat very serious consequences, as the proceedings 113-In all
inevitably go to a higher tribunal, where perhaps tan tmnitry for
years might take phew. He reminded the Court of the ten years
persecution agaiest Warren Hastings, and the result, and con-
jured than trot to incur the sante consequences.
Mr. STLPItEN spoke in favour of the original motion.
The motion for adjournment was then rt., and the Court ad-
journel till to-morrow (this day) St Mate o clock.

2dly, We are not called on to decide whether those who pur-
chase the stock transferred to them under the forged powers, might
require the Hank to confirm that purchase to them, and to pay them
the dividends on such stocks, or whether their neglect to inquire into
the anther ticity of the power of attorney might not throw the loss
on them that has bees occasioned by the forgeries. But to pre-
vent as far as we can the alarm which an argument urged on be-
half of the Bank is likely tie excite, we will say, that the
Bank cannot refuse to pay the dividends to subsequent pur-
chasers of these stocks. It the Bank should say to such subsequent
purchasers, the persons of whom you bought were not legally pos-
sessed of the stocks they sold you, the answer would be, the Bank,
in the books which the law requires it to keep, and for the keeping
of which they receive a remuneration from the public, have regis-
tered these persons as the owners of these stocks, and the Bank
cannot he permitted to say that such persons were not the owners.
If this be not the law, who will purchase stock, or who can be sure
the stock he holds belongs to him ? It has ever been an object of the
Legislature to give facility to the transfer of shares in the public
funds. This facility of transfer is one of the advantages belonging
to this species of property ; and this advantage wuuld be entirely
destroyed, If a purchaser should be required to look to the regula-
rity of the transfers to all the various persons through whom such
stock had passed. This report, perhaps, inay be incorrect ; but as
jhe Court of Common Pleas were of a decided opinion that the
plaintiff could not recover, consequently with such a fortification the
Commissioners felt themselves bound to reject the claim of the
Bank of England, or rather, perhaps, of the parties whose funds
ma have been transferred by forged documents.
The Gentleman from Mr. Freshfield's office observed, that from
these incongruities the Bank had determined to carry the case be-
fore a higher tribunal, and of course this case would also be refer-
eed to the same authority. The Gentleman then withdrew, and the
examination of the bankrupts commenced.
` Marsh. examined by Mr. lIIAYIIEW I know nothing of
the accounts, but for sake of confumiity I put my name to them,
and upon my reliance in the accountaut, I believe them to be
'Comet.
By Mr. Commissioner LAW—Have you gone through the ac-
aunts with Mr. IVilkinson, the accountant ?
"itfr. Marsh—No, 2.-retfed neon Mr. Wilkinson.
hint Wilkir son, by Mr. Law—l made out the accounts from
the books and memoranda belonging to the firm.
Mr. Commissioner Senax c La—Knowing nothing of the ac-
0111111b, Mr. Marsh, you signed them, you say?
Mr. 31arsh-1 hare signed these avocets, as I believe than to
correct ; but not having taken any management uf the affairs of
she house, I know nothing of the general state of the accounts, ex-
ecs from Mr. W.'s statement.
Illr. STRANGE it—Unless you can tell us you have looked through
the accounts—
It was here suggested whether it would not be better to inquire
of Mr. Marsh in what capacity he stood as a partner.
Mr. Marsh--I was exempt from taking any share in the details
of the concern, and accordingly could not be acquainted with the
detailed accounts.
Mr. Klem' (Solicitor)—lt appears, from the accounts, that
Mr. Marsh is indebted to the concern in an amount of about 70,0001.
Independent of a sum of 26,0001. upon his private account ; and
DOW he comes here and says that he cannot give any elucidation to
the accounts, and does even say that he has not gone through the
accounts with the accountant. I upon that appeal to the Commis-
sioners, whether the bankrupts are in a fit state to pass their exami-
nation this day ; perhaps Mr. Stracey can give us some satisfactory
answers upon it, and also as to what portion of management he
took in the concern.
Mr. Stracey, by Mr. Law—My knowledge, from my manage.
ment of the concerns of the limy. enables me to state, that the ac-
counts are correct ; they tally with the vouchers and books of the
firm of the several enterer,.
By Mr. KNIGHT (Solicitor)—l can deliver them in as correct
occounts, having gone through them with the accountant.
Mr. Graham, by the Cornmiesioners—From my personal
knowledge, I think the accounts arc correct ; I have not failed
in my attendance one single day since the bankruptcy took place.
By Mr. Komi] T (SOlieltOf )—I have cheeked the items in many
instances with the ledgers, but certainly not in all.
Mr. Knight—Mr. Marsh knows nothing of them; Mr. Ora.
ham but little more, and Alr. Strawy no great deal ; perhaps the
assignees can throw sonic light upon them.
Mr. BOLLAND could not settee to every item being correct.
Mr. Hare—Had attended all the time of the examination of the
accounts, and had examined every item in the private ledgers.
Mr. Knight (Assignee)—Had not looked into all the Items;
but he was satisfied with the accounts as produced by Mr. Wil-
kinson.
Mr. Commissioner LAW—We are row in this difficulty; no
person of authority can inform us positively that they are correct,
except Mr. H'ilkinson, who, perhaps, will not tell us how the ac-
counts are made out.
Mr. Wilkinson.—They are made out from the books and me-
moranda of the firm ; the form in which they are is of course
my own, but the materials I obtained from the books, Ac. of the
house.
Mr. Commissioner Law—But it is said that the account pro-
duced by you in January does not tally, in many respects, with
your pervert ono.
Mr. Wilkinson—lt has been M alleged, but not proved, as
regards the balances of the partners.
By Mr. SEYMOU a--Supposing the entries to be correct, then
these accounts arc so likewise ?
Mr. Commissioner Law.—Have you found instances where par-
ties have come before us as creditors upon the firm by their
accounts, and yet, upon investigatioo, it has turned out to be
Otherwise ?
Mr. Wilkinson—There is only one of the partners who
rands in that light, which is Mr. Fuptleroy.
Some further examination here took place, but in so confused a
manner that we think it best to refrain front giving it, lest we
ado,ht fall into error. However, It went on till
Mr. Wilkinson stated, that, according to Mr. Fauntlemy's ad-
mission, he was in debt to the concern about 2,0001., but that on
examination he ( Mr. Wilkinson) discovered there appeared a sum
of 41,0001., which he had taken front the house, and for which he
had not given crecit in the books. Again, there is a defi-
ciency, as has been stated, of 91,0001., which is abstracted from
the concern by somebody, and of which 31,0001. I conceive I
can trace by Mr. F.'s owe hand-writing, in a balance-sheet
made out by him as late as May last, of the concerns of the
heath. in it are two items, one for 22,0001. and the other for
11,01/0/.. for which I find no assets in any way whatever. The
ronsining 63,0001. I suppose Mr. F. must either have taken,
or must have suffered some one else to have made away with.
An amount of 44,0001. I can trace to him, and 31,0001.
more upon his own admission; and 63.0001. I cannot as yet trace
to him or any one else, but by more time, perhaps, I might do so
satisfactorily.
Here some conversation took place, from which it appears
that Mr. F.'s deScieicy retold be about 411,000/.
Mr. Commissioner Law—ls not what we have now heard
from Mr. Wilkinson sufficient cause for the examination to he
adjourned, particularly when so large a sum as 63,000/. might be
eatistacewily accounted for by a liule time ?
Mr. K triune was going to make an observation, when
The COMMON SEnoEitor said—Would it cot be advisable to
hear Mr. Willeinsoo's further explanation as rrgnrda the deti.
ciencv 494.0001. ?
Mr. Wilkinson, examined by Mr. Commissioner Law—l think
that time might throw an additional light uron this item. ‘Vtica