The Sun.
London, England, 1864-12-02 00:00:00

The Leeds Banking Company,

Yesterday a meeting, under the winding-up of this cor-
poration, was held at the chambers of Vice-Chancellor Kin-
dersley, Lincoln's Inn, before Mr Nickley, the chief clerk.
It had been arranged at the sitting previously held that
three representative cases should be selected for investiga-
tion, and that these should govern a large number of others
in which the principle of contribution involved was the
1 same.

The first case was that of a Mr Crosland, deceased, and
his executors, after a short technical discussion, were placed
on the list, until further information was obtained as to the
vulue of the estate.

The next was that of Thomas Brumfit, Thomas Crad-
dick, and Thomas Craven, executors of the late James
Craddick, of Leeds.
Mr Denton, from the office of Messrs Frcshfield and Co.,
said that this was a case of representative character. The
official manager believed the estate of Mr Craddick was
quits able to pay, but some further information was re-
quired.

Mr Nelson, solicitor to the executors, stated that the
shares alluded to were specifically bequeathed, and a bill in
Chancery was about to be filed to determine from what fund
the amount of the call was to be derived. There was no
doubt the estate was sufficient to meet its liabilities, The
will was proved for £7,000.
Mr Denton said that the estimated call then would re-
quire £3,ooo—half the estate nearly.
Mr Buckley said he should "settle" the executors in
their representative character on the list, without preju-
dicing the right of the official manager to put anyone else
on the list hereafter.

Mr Torr, solicitor, objected that the present was not a
model case. Were they always, at those moetiegs, either to
adjourn the consideration of cases or exompt them as spe-
cialities, or to clog decisions with reserved points? Surely
some instance could be found among those called on as
contributories involving a principle which could rule half a
dozen or a dozen others.

Mr Denton said that Mr Craddick signed the original
deed. The names of his executors were placed on the books
of the Leeds Banking Company, and they had for a long
period up to Feb. 3, 1801, drawn the dividends accruing on
the sharez.

Tho next name was that of Mr John Chalk Barret, of
Liverpool, but before it was gone into,
Mr Bunting, solicitor, saicl it seemed to him that they
were in reality making no progress at all. They should go
on from time to time, semingly for ever. Unless Mr Bar-
rotes case was all fours, similar to that of his (Mr Bunt-
ing's) client's, what good was it to him ?
Mr Turquand said it was impossible to raise a case which
should resemble every other in every minuto point.
Mr Buckley said he could not choose the cases. That
was the work of the official liquidator.

Mr I'atteson said he appeared for Mr Barrett.
Mr Denton said that the gentlemen signed the deed of
settlement (which he produced) for ten original shares of
£lOO each. Clause 3of that document fixed the capital of
the company at £1,000,000, divided into £l,OOO shares of
£lOO each, and provided that the shareholders should have
power to increase the capital, and the directors the power of
allotting the new stock to the existing shareholders in pro-

portions to their respective holdings, or disposing of it in
such manner as would "best promote the interest and credit
of the company." The deed was signed for 7,349 shares,
leaving 2,660 untaken up. Mr Barrett afterwards took fur-
ther shares, bringing up his total to 55. He received his
dividends on all his shares which he had held respectively
since 1832, 1836, and 1857, and he was returned regularly
to the Stamp-office. At a meeting of the bank directors, held
in June, 1864, they resolved to issue these surplus shares to
all present holders of shares in the proportion of one for
every five if they chose to take them up. A circular to this
effect was prepared, and the amount to be paid for each
fixed at £3O. In reply to this document Mr Barrett wrote
from Liverpool on August 2, 1864, sending a cheque on
Roberts, Lubbock, and Co. for £660, the amount payable
on 22 shares which had been allotted to him, and desiring
that the usual certificate might be sent to him. This, how-
ever, was delayed, and on receipt of the usual report in the
beginning of February, 1864—declaring 15 per cent divi-
dend and 10 per cent bonus, and stating the profits on the
year to be £44,000, and the reserve fund £90,000. Mr Bar-
rett wrote to the manager, Mr Greenland—" It is pleasing
to congratulate you on your successful operations during
1863. Wishing you increased health, &c." (Laughter.)
The bank stopped payment on Sept. 17, 1864. Mr Barrett
(added Mr Denton) was quite welcome to his certificate
now. (Laughter.) What was now asked was that the
name of Mr Barrett be placed on the list.
Mr Patteson handed in the affidavit of his client, which
he stated raised the question of wilful misrepresentation.
Mr Buckley thought it must be remembered that Mr
Barrett was a partner.
Mr Watson—A case of self-delusion. (Laughter.)
Mr Patteson relied on the flagrant misrepresentation
contained in the report of Feb. 4, 1864. This document
was sent to Mr Barrett, and was read by him. He had no
opportunity of inspecting the books or verifying the ac-
counts, and was consequently entirely guided by this docu-
ment. On the 26th of May, being in Leeds, he called on
Mr Greenland, the manager, at his private residence, and
he corroborated in general and glowing terms the statements
made in the report, telling Mr Barrett of the intention of
the directors to issue the reserved shares ; and had it not
been for all this, that gentleman would not have had any-
thing to do with the matter further. What he (Mr Patte-
son) required wae, evidence in reference to what the state of
the bank really was on Feb. Ist, 1864. What he contended
was, that the £44,000 "profit" and the " reserved fund" of
£90,000 had really had no existence at all. He was aware
of the difficulty of obtaining such information.
Mr Turquand thought there could be little doubt that
its state in August was the same as its condition in Feb•
ruary, and vice versa.
Mr Patteson—Will you give us a formal admission of
tat ?

Mr Tur quand would not say a profit was not undo ; but

the losses must be taken into account before solvency could
bo pronounced on. Profit was only profit after all losses
contingent or otherwise were calculated.
Mr Buckley—Either Mr Barrett is bound by the repre-
sentations of the directors after tying his own hands, or he
is not.

Mr Denton eaid that the deed provided for the appoint-
ment of a committee of inspection on the motion of any
shareholder, in the event of dissatisfaction with the ac-
count; but Mr Barrett had had a large share of profit, and
desired more shares to increase it. It would, indeed, be a
curious thing if ho could escape now,
Mr Buckley—Suppose the bank was now carrying on its
operations and making large profits would Mr Barrett re.
_ _

fuse to receive any amount offered him ? That really must
be the governing principle.
Mr Patteson said his main argumont was fraud, but
Messrs Fresbfield wanted to confine the matter to a ques-
tion of contract.
Mr Buckley—Then that must be raised by an inspection
of the books.
Consideration postponed accordingly.

It transpired incidentally that Mr Greenland, the
manager of the defunct bank, was one of its shareholders,
The meeting was again adjourned.

Ten Days of a Clergyman's Life in the
Navy.

(Copy.)
Her Majesty's ship Resistance, Malta, Oct. 6, 1864.

Statement of Grievances complained of by the Rev. Frederic
Gutteres, Chaplain and Naval Instructor of her Majesty's
ship Resistance, and respectfully submitted to the consi-
deration of the Lords Commissioners of the Admiralty,

Last Easter I commenced, with Captain Chamberlain's
consent, a voluntary service on the Sunday afternoons.
On Sunday, Sept. 25, just before this service, I received
a note from Captain Chamberlain, informing me that he had
ordered one of the midshipmen to attend this service until
the end of the year, and requesting me to report to him if
his order should be disobeyed.

On Tuesday morning (27th) I took an on3ortunity of
speaking to Captain Chamberlain on the subject of this note,
telling him that I thought he must have written it without
due consideration, as, of course, it would be impossible for
me as a clergyman to act as a spy on my congregation, or to
report who were, or who were not, present for punishment ;
I said at the same time how strongly I disapproved of the
punishment itself.

Captain Chamberlain at first denied that it was a punish-
ment; but corrected himself, and said that it was inflicted
for inattention at morning service.

On my saying that I could not report the boy, Captain
Chamberlain said, "Then you refuse to assist me ?'' I said
I did no 5, that, on the contrary, I was always, as ho well
knew, most ready and willing to assist him to the best of my
power, but that this would place ran in so false a position
with my congregation that 1 must decline the office. After
some further conversation to the same effect we parted,
Captain Chamberlain saying, "I shall make a note of your
objection,"

In the same afternoon I received another note from
Captain Chamberlain requesting me to send him the
one
he had written on Sunday, as he wished to know the exact
words of it. Thinking this a good opportunity, I took up
the note myself ; a long conversation ensued. I expressly
doing said that I had not the slightest feeling of opposition to
Captain Chamberlain ; that I was most sorry not to be able
to do as he requested ; that this was not a question of obey-
ing or notre b
it would or of not doing what I
n d
as a clergyman to do ;
adding that he must know how anxious I always was to
assist him in every way I could ; reminding him how I con-
tinually gave up my opinion to his, and thought it was the
duty of everybody in the ship,When possible, to do so ; but
that when it came to a question of conscience I could not
give in for anybody ; that I
might be mistaken in my
judgment on this point, but that I could not possibly be
mistaken in not doing what I felt I should be wrong to do.
Our interview ended (as it had been conducted throughout)
in a most friendly manner, Captain Chamberlain saying
that he was sorry I took the view of the case I did, and I
telling him that I felt convinced that when he thought the
matter well over he would see that I could not act otherwise
than I was acting. When I left the cabin I thoroughly
believed that the whole matter was ended, and, as I was
happy to think, without unpleasant feeling on either side.
So convinced of this was I that I left the original note on
Captain Chamberlain's writing table, and when he sent it
to me, as he afterwards did, I destroyed it, not caring to
keep any record of the matter.
On Friday morning (we had arrived at Malta from Naples
at 9 a.m. on Wednesday) I received a message saying that
the captain wished to speak to me on deck. On getting
there I found Captain Chamberlain, who walked aft with
the commander, first lieutenant, and myself. When sit
he said " I wish to speak to you on the subject of that
note which I wrote to you on Sunday. On Tuesday you
told me you objected to do as I then desired you, and
thinking I might have misunderstood you, I speak to
you now, in the presence of these officers, and wish to
know if you still object." I answered, " I most certainly
do object; and I thought, Captain Chamberlain, that the
whole subject had been finished on Tuesday." After a
few more sentences he said "If you still object to do
as I request You. I must give you an order to the
same effect, not written, but orally, in the presence of these
officers. Will you or will you not obey it ?" I answered
" I cannot." Then he answered, "It only remains for me
to place you under arrest." I said " Captain Cham-
berlain, I have been ten years in her Majesty's navy, and
during that time have never had an unpleasant word with
any captain I have served with but with yourself, and so
am utterly ignorant of what that involves; will you kindly
inform me ?" He —0 answered_ Not to leave the ship, and
suspension from all duties." I then went below, and the
captain left to see the admiral.
At 12'301 was again told the captain wished to see me on
deck, and there I found him with the commander and first
lieutenant. He said to me—" You arc released from your
arrest. and aro to return to your duty without prejudice to
any trial or inquiry which the admiral may hereatter think
it right to order." I bowed and retired.
At 1..30 I asked leave to go on shore, which was granted ;
but just as I was about to leave the ship Captain Chamber-
lain came on deck and said " I am afraid I cannot let you
go ; lam very sorry, but I am afraid I must keep you on
board." I said "Do not apologise, Captain Chamberlain ;
if it is your duty of course you must perform it," and I
again went below, wondering much at the anomaly of my po-
sition as being released from my arrest and still a prisoner.
At 4 o'clock (the captain having been occupied until then)
I went into his cabin and said, "I come, sir, to ask you on
what grounds you refused me leave to go on shore ?" Ho
answered, " Going on shore is an indulgence, and you have
refused to obey my orders." I said, "Then, sir, you take
upon yourself to punish me ?" " No," he said, "I do not
consider this a punishment." " I do, sir," I answered, and
withdrew.
On Saturday morning I wrote to the Commander-in-
Chief, through Captain Chamberlain, laying these facts be-
fore him, and appealing to him, since, I said, I could not as
a clergyman quietly submit to such indignities.
On Saturday and again on Monday Mr Cleugh, the
Government chaplain of Valetta, called on me at the ad-
miral's request to see if ho could not arrange the matter. I
said that I should be delighted if he could, without making
me disobey my conscience; but as the only terms he:was
empowered to offer were that I would obey the order, of
course his kind intervention could come to nothing.
On Tuesday (4th) Capt, Chamberlain returned from the

commander in chief, and sent for me with the commander
and first lieutenant into his cabin, and then told me that he
substituted for his original order one to the effect that I
should, on every Monday morning, take efficient steps to
ascertain whether the boy had been at afternoon service on
the day before, and if not to report such absence to him. I
received the order under protest, and appealed to the admi-
ral against it, on the ground that I was not an executive
officer and did not know how to take these steps, and also
because Capt. Chamberlain had refused to assist mo in the
matter; he having, when I asked him to do so, answered
" There is your order, sir, it is for you to obey it." lat
the same time appealed to the admiral on the score of having
been confined to the ship ever since last Friday.
Soon after this Capt. Fellowes, of the flag ship, came on
board and had a long interview with me, and having per-
suaded me that I could obey this new order, I withdrew my
appeal, reserving to myself the right to take any further
step I might please in the case. I then in the presence of
Capt. Fellowes, the commander, and the first lieutenant,
asked Capt. Chamberlain about my confinement to the ship.
Ho answered, that was entirely in the admiral's hands, but
that he had no doubt now that I had accepted the order it
would be immediately withdrawn. At 7 p.m. Commander
Fairfax received a memorandum from Capt. Chamberlain
to the effect that he was to inform me that I was released
from my art est. .

Having made this statement I respectfully appeal to
their lordships. I think they will consider that I have
been oppressively treated by Captain Chamberlain; first,
inas,much as ho gave me an order which he had learnt
from myself that I could not in conscience obey ; and then
for placing me under arrest for not obeying such an order

• .
so given. . . )
As regards the confinement to the ship (from Friday, at

12,30, when I was released from arrest, until Tuesday,
seven p.m., when I was again released.) I think their
lordships will consider that Capt. Chamberlain by saying,
when I asked him why my leave was stopped, " Leave is
an indulgence, and you have refused to obey my order ;"
and again by saying that, " Ho did not consider it a punish-
ment," did not plainly allow that he stopped my leave by
his own authority and his own act (although the admiral
may afterwards have taken upon himself the responsibility).
and which act wae, I urge, even if legal, most oppressive.
I most respectfully, therefore, appeal to their lordships

to grant me such redress as they may think fit for this
treatment, which treatment I received, too, for refusing to
obey an order which the commander in chief must have
thought unjustifiable, or he would not have caused Captain
Chamberlain to withdraw it after my having so pointedly
and fixedly said I could not obey it, and also for the suffer-
ing which their lordships must perceive I have undergone
during the past week. I also respectfully appeal to their
lordships to cause the order which obliges this poor boy to
attend Divine service as a punishment to be rescinded.
(Signed) F. E. GUTTERES,
Chaplain and Naval Instructor.
The Admiralty having received the above appeal, have
directed the commander in chief, Admiral Smart, to hold a
private court of inquiry, and report his opinion of these
transactions, in which, if this statement be true, he is
himself one of the principal actors.

SPIRIT OF THE PUBLIC JOURNALS.

TIMES.—It was not without reason that the Arne-
rioans anticipated an eventful period in the year
1864. Both Federals and Confederates have made

greater efforts than in any former campaigns, and
though the results have in themselves been as inde-
cisive as ever, yet the close of the year finds the
belligerents in such critical positions that the con-
test, if not terminated by agreement, must enter
upon a fresh stage as inscrutable cnd unpromis%
ing as the first. It would be premature to
strike the balance of. success between North and
South until we learn the end of that mysterious

expedition on which a Federal General and army
have recently disappeared. Such a phenomenon
as that presented by Sherman's movements has
never been witnessed in any hut Asiatic war;
and even when Sir Charles Napier vanished
in the Scinclian Desert it was known what he
designed, and upon what point he was march-
ing. But General Sherman, with 50,000 men under
his command, has been missing for weeks without
leaving a sign of his intent, or even a truce of his
direction. The Americans either do not know or
will not tell what has become of him, and the po-

pular conjectures of his destination are so vague and
various as to include Cnarleston and Lynchburg,

Savannah and Mobile. On the end of this enterprise,
however, the balanea of Federal gain or loss will

mainly depend.,The capture of Atlanta was thegreat
achievement of Northern arms in the present cam-

paign. If it should culminate in some ulterior and
more important triumph,the balance of fortune will
be in favour of the Federals—if it should end in a
reverse, the Confederates will be materially the
gainers on the score of the year. They have success
fully resisted the enemy in Virginia, and President
Davis has just been enabled to sketch, after the
fashion of Mr Seward, the ground that has been re-
gained by his Government in the campaign of '6l.
But, apart from these military calculations, there
are circumstances in the relative positions of the
belligerents which will impart a most critical cha-
racter to the resolutions which within the next few

weeks they may respectively adopt. It is the remark
of an American that America never has more than
four years of history. The election of a new Pre•
sident obliterates all previous annals, and opens a
now and distinct era in the national life. The re-

mark is no longer so true as it was, but there is no
doubt that the Mr. Lincoln of 1865 will -not be the
Mr. Lincoln of 1864. lie will not he under the
same obligations, temptations, or inducements. It
will be a now reign, though of the same king. lie
may either terminate this war by negociation cr
commence it anew. It is already presumed that he
will embrace the former alternative if possible, and
as the proposition oame from so fierce a partisan as
General Butler himeelf, the popular belief in its
adoption is probably correct. Nor can we wonder
at the decision. If the war is to go on, Mr. Lincoln
must begin afresh to raise armies oven larger than
before, although the expedients of volunteering and
bounties have been nearly exhausted, and conscrip.
tion is the only resource. lie must begin again
to borrow in the name of the nation, though the
national debt is already as heavy as our own, or he
must begin to tax his constituents in reality, which
may, perhaps, be more difficult still. The other
day the Confederate Government thought it worth
while to circulate a statement of the Federal debt,
transcribed from Federal statements, in the belief
that nothing beyond the sight of such figures
would be necessary to stop all further supplies
of money from European lenders. In the year
1861 the credit and confidence of the people were
boundless alike'; and yet, though starting with those
untouched and apparently inexhaustible resources,
Mr Lincoln has only arrived at the point where
he now finds himself. Easy, therefore, is it to
understand that he would be glad to make peace,
and the commencement of a new term of office
furnishes him with a singular opportunity for
the proposal. But what will the South say P
It will have been oboerved that the conditions of
peace suggested by General Butler are more
liberal than those formerly talked of. They include
an absolute, immediate, and universal amnesty,
comprising even those leaders of the rebellion who
were once excluded from mercy. They offer com-
plete and unconditional oblivion of the past—all by-
gones to be bygones, and nothing to be thought of
but Union once more. Of the great question of
slavery not a syllable was uttered, and we may
shortly perhaps have an opportunity of ascertaining
from infallible evidence how far those authorities
are right who have proclaimed slavery as the
origin, cause, and subject of this civil war. Will
the North offer to leave slavery alone, or glide over
the question by an acceptable compromise? Will the
South close with such terms ? In short, will the
North sacrifice Abolition to Empire, and will the
South sacrifice Independence to Slavery ? We know
what Mr, Seward thinks on this question, lie
thinks, or thought, three months ago, that the Con•
federates would make independence exactly such a
basis of negotiation as the Federals would make of
union, and there is little in the present aspect of
affairs to invalidate that opinion. The South has
lost one chance in the peaceable and decisive re.
election of Mr. Lincoln; It was possible that in
the conflict of opinions attending a Presidential
Election either a peace:party might acquire influ.
enee or the war party might have been weak-
ened by divisions ; and, indeed, it is well known
that the Confederates anticipated the period of
election as a time which ' might produce various
advantages to their cause. Those expectations
have not been realized. If the Southerners really
preferred Lincoln to M.Clellan, they have so
fur been gratified, but beyond this they remain
. state quo, with the evidence before them that as
far as present sentiments aro concerned the North
is prepared to commence a fresh series of cam-
paigns rather than lot them go as they desire. So
far, therefore, they have been disappointed. We
cannot, however, discover in any proceedings of the
Confederates a disposition to forego the object of
their struggle, nor can we discern in the recent
events of the war anything which should induce them
to think worse than formerly of their prospects of
success. That their finances are inconceivably de-
ranged is true, but they enjoy in this matter an ad-
vantage without parallel or precedent. In their stores
of cotton they possess a commodity little less nego-
tiable than gold itself. For this material half Europe
is craving, and any blockade runner that can get into
a Southern port with munitions or merchandise is
sure of a return cargo as convertible into specie as
an English bank-note. If the Confederates have not
money they have money's worth, and so valuable is
their medium of exchange that all risks are incurred
to obtain it. It is by this that they have been enabled
to attract to their ports all the products of Europe
and America too. Except with cotton they could
hardly have paid for a dozen cargoes, and the Fede.