The Sun.
London, England, 1855-12-11 00:00:00

TIIE SUN, LONDON, TUESDAY EVENINO, DECEMBER 11, 1855

SHARE MARKETS.

(THIS DAY.)

RAILWAYS.

RAILWAYS.

iberdeeik.• •••10,....•• •

tmbg. Nottng. Bost.
Eastu. Junet
goifaer me 1,,
ginning. Wolverh
"tour Valh y „
3 irk e ihd. Lan. Fa,. .5,
Übeehire Juliet •
to. Cheah. di Birk.,
£5O and £25 Conn
Do., £20...
glyth &Tyne original
£25 (lead. at £46',
!.Iristol and Exeter...
caledonian.

Carm. And Ca- digan
Chester & Holyllea
Cork and Bandon
Cork, Black, & Park
Cnrewall
Do. A
Do. B
Ci leg Junction
DuoPu&BelfastAine
-tun. P. &Ab Joe
Do. N ......
East ALglian
Eastern Counties
East. 'Talon, A. SU
De., B. Stovt...

71
100
100

Do.; New A
East Kent
East Lancashire
Edinburgh & Gismo
Edinb. and Peebles
Edin. Prth & Dux 4 ,
Forth At Clyde Jrn
Furness
Do. Extension

!Glasgow &S 'Neg.;
Great N. of Scotlnd
lOrent Northern
Do., A. Stock
Do., B. Stock
Gt. Sth. &West. (Ire. )
Great Western
Do. Stour Val. Rai,
Una. Stk..

Irish Routh-Easterr.
Lancaster & Carlisle
Do Thirds

'Do. New Thirds__
Lancash.andYorksl,
Do., Wst. Riding Um
Liv.Crioy.ScSoutlipt
London Sc Blackwar
Lond. Bright & %Cs t
Lond. and N. Wean.
:Do. Fifths

allall
Loo
.00

D0.101.3h.,M&8...0
I• Do Eighths,.

London andS. Westn
I Do., £50.,

Do., £4O
LndndrrydiColersi.:,
Ludndrrr. & Ennlsk
Maneh,Shef.&Linel,
Do. Shares, No. !
10., Man. & Lin. Mn
Metropolitan
Midland

Do. Rirmng. &Dori)!
gidld. G. West. Om,
Dir. Elalf Shams

Newcastle & Carlisli-
Nwpt.A.berg. &Hrf•i
Newry
Newry Warrenpoin:
and Rostrevor._..,..

Norfolk

Northn.Conni los ITII
'North British,,,,,,,

North Devon, No. I
Do., No. 2
A Deferred
Do., B Guart.nt,,e.
Y. Bastorn—Berwie -
i)o. do. Extenaioe

1),,.d0.G.N.E.?ur0b
Do. Leeds
{)0. York

North London .....
N. Ac, S. Wstrn ,}Tany •
stead, And city Jr
north Statfordsh ir
Vorth Westorn._.,

v. & S. Westrn.
Nuneaton, Rinekl
.nd Leiceste:„ ......

)x, Wore.. Fe Woly.
•orts:-.louth ........

o.,;i811 Central

~oottishMidland ~
4hropshire Un 'on
4ontl) Devon
;oath Eastern

ath Wales
Yrksh. 4 Riv. Dut

4t,ain es, Won. &Wok
tockton Darli

s'
16
100

itfirAton & Hartlap!
Paff Vale..
Do. Pref., No. 1
Thames Hay. P.& R
Inverstone & Lanes
Vale of Neatii

Watertl. Kilkenny
Araterford&Limeri,:k
West Cornwall

West End of London'
and Crystal Palace
Do. A
Do. B

West London...

Wimbledn do Croydon

tr.tworlidtitott..rdsm
Do. 5 p.c. Oblgs. con.

10
10

in Sh. at par-till '64
Ardennes
lelgian Eastn. June
;leziers to GraiSS,,SSae
ilembay, Baroda,
Contral. India ,Seri)

Do.
Demerara
!)ntel, Rhenish
Eastern of France
Do. New

East Indian, g. 5 p. c

Do. Ey ;ei;ion
Do. do, do., '59, do..
d. Tk of CanarlaA is
Do. St. Lawrence A,
Atlantic do.

no. Cert. of Deben.
con. into Stk. till '6?
)o. Comp. 6 p. c., do
Gt. Colitral of Fran
at Indian Poninsnts
guar. 5 per cent...
O. New .5 por cent
,o. Extensions.

Great LuxeraboUr,
Constituted ShareF
Do. Obligations.. ....
Gt. Western o f Canad
St!arPs

Do. New
Du. payr.,'e's ,
with option till '55
Do. do., '62, p. '56
Do. do., '76, p. '6O
Dr,. do., '73, without
option

Hamilton & Toronto
Do. 6 per cent.
(take Const. & Basic
Lime and Turnhout
Lyons and Geneva
Lyons & Mediterran
Madras

Do. Now
Sfaria Antonia
Do. do. Now
Namur dt Liege (4fitli
Interest)
Do. (ex interest)
Northern of France.
D 0.20/. Shs.
Do. 201. 3 p. c Bde
(fmy. B. ds Ams. Shs.
NorwegianTrunkPre
Paris and Lyons
Ditto Bonds ......

all
all
all
all

Paris and
Paris and Rouen...
ParisCaen It Cherbrg
Do

Rome and Frascati
Rouen and Havre
Royal Danish
Royal Swedish
Do. Obligations
Sambre and Meuse
Do. 54 p. cent. Prof
Sciudo
Do.
Southern of Franoe
St. Andrew's and

20
50
100
50
100
100
20

if:nosing Price
yesterday.

22i 3
31 3i

74 - 8

16 - 15

- 14
9 8

79 -- 81
55i - 56

12

.. -- ...

••• - •••
6 -
6 - 7

11 - 12
83 8;
27 29
17 - 19

cB4 -- 69
504 51;
9t
164 17!

77 - 79
6 - sj
87i - f3£3
71 - 73
[2O - )22
103 - 105
50 501

50 55

70 75
6 7
6 7p
77e 771,

- 60
94 96
lA 94tt
ldl
- .13
LA
86 87
6 5

23 - 23

64 - 64.
36 - 38

i -- ii

tie

29 30

68 - 69
- 7i
5 4ari
11 - 12
444 45
92 97

81
4i - 51

22 - 24

100 102
72 74
43 35
)1 • 2
57:1 —58 i
31 31$
5 ?cl
2d pai

34 36

Quebec (A),
West Flanders
Do 5 por c. Pref ''
Western of France_
Do. . .....

Zealand

JOINT-8'

.•• ''

Australasia
Bank of London
.tri. Col. BJC .&
British N. Amoricar
Ohartd. Bank of Asir
Chrtd. Bnk. of India,

"""

... ".*

i; io

-4 --- **6

IGN.

7i - 8

3 -, 2111
21 2 d

par p

3q - 354
9 - 10 p
20i -20 i
'

'6 - i*,

16 - 17

63 63
82 - 87
3 3p
5
hd - iP

3;1 -
2- 3

23/ - 241
11 - 2ip
98 - 100
115 -- 111
116 -- 120

let 107
•23i 244
112 117

6 : 7 p'
.8i -p/

2 - 3
441- 4
35 -85 i
12 •- 12i

6; -7;
45 - 45;

ii : ;J:

... -pm

18} -19 i
2$ -- 2$
2$ -- 2i
Si -- 9

i - iP

•••
.... --- pm

3i
29 - 30

18 jo

IC BANKS.

91 - 93
54 - 56

linatness do*. o
this day.

17 i

72i
1024
NI i

94f

86 i
40f

641 1

68 i

24 33

106 4i i

10
St.
20

40
5
St.
25

= w*d

Australia, & China
City
Colonial
Commercial of Lon&
En:..-'orot.&4.llF.Cht7
Lond. Chart. Bk. o
Australia
Ditto Now
Lendon and County
Lna . &E. Bnk g. Corp
London Joint Stock.
Lond. & Westminster
National Pro.of Eng.
Do. New
National of Ireland..
New South Wales....
Oriental Bank of
Corporation
Provincial of Ireland
Do. New
Royal Australn.Bkg
& &Pi Imp Co
Royal British
,oath Australia 4O - 42
I Tnioll of Australia 73 75
'Po. New 8 9
Union co Loudon tr,t 80 0 n

59 .61)

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16 lei
16 17

par 2p

•Y .." . •

••• - •••
37 - 39

38 - 39
53 - 64

944 N+

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74t 3i

50
50
2
100

•1N .K 6 RED t r

LeailnL
Compan,

St.
12A
12-
10

6
1.21
12
12,
St.
St.

St.
St.
17
20
1?!,

all
all
100
LOO

100
all
100
100
100

1.00
100
100
al]

'OO
'lOO
100
100
100
100

100
all
• It
a 1

100
100
100
1,100

London bt
N. West.
L.&N.W.
Caledon
E. Un.
E.

C osinr Mr
water ay

96 - 93
94 - 98

E. Count.
Caldonialt.

1.'30 ---- iii

Westi
Yk. T.;ew.
& Bcrw.
Y. &Nlll
D 0.,.
Do

103 - 105

S. Easter
Do

ni - 13

IPeto & Co.

h 6 = ii

Norfolk ...
Do,
L.& N. W
& Midld.
%Orton &
Dargngt.
Midland..

- 2i

ii -- id

En. Coun.
E. Count
Do

par iv
.55 57

Do:-

L.
Do

Gt Northn
Lanese& &
Yorksh.
T. Brassey
M.MClean
Stockt.
Darlingt
Do

128 - 132

i = ii
3 - 2§l

sod- 8 5
31i

:z SHARES.

107 - 109
104 - 106

80 - 85
VV - 92

93 :-..- 95

15 - 16

4i

... -- ...

all
an
all
all

all
all
all
12i

bi z ei

1
1)
111 - 124

... ...... ...

57 -- 59

••• --
13 - 715

iO5 - 107
S 9 - 101

par ip
.9 -- 91

6 6A
85 87
78 82
78 82
9i --9
15i 161
94 -- 10
66 6
17 18
8i 9
12i —13 i
id
130 - 132

... ".'".
44-

... - ...p

11 -2/
I

130 - 132
91 - !,3
' 2 -1?,
4 - 4.

98- - 100
88 - 90
2i - 34

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32i
100

all
24
All
all

all
10
10
all

23
1
20
100,

94 - r 6

113 - 14
id - pa)
21i —22 i
9) 93
9 --

-
4 - ltr

Businoss
this day.

2i —24 d

... -..

1 -- 1

i ---7 -4

4 - 6
2 -2;
21 3}
30 - 32
iP
63 - 67

30 35
2d par
19 20
14 16
—'2
1
71 7i
1

if
21 - 23

6 - 8
41 - 4i
1 -

3i - 4
4 - 4i
I- 1

ROUB.

6i - '7
52 - 55
,42 - 347

Xl9 - 110
2 - 21
4i - 4

114 k

1 i l
- i
20 - 2 1

.g 8
- 10
- 6

3} 4k

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2 3
f dis— par

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18 =i; 18

STRAHAN, PAUL, AND CO.

BANKRUPTCY COURT.-(THIS DAY.)

This was a meeting for the last examination and de-
claration of dividend in the case of these bankrupts,
who formerly carried on business in the Strand as
bankers.

The bankrupts were brought to the court in custody,
but the balance sheet only being filed at this sitting of
the court, they were not brought before the Commis-
sioner for examination.

Proofs, to a considerable amount, were again ten-
dered to-day and received, and consequently the divi-
dend is adjourned. Amongst the claimants to prove
was Dr. Griffiths, for the amount of the securities be-
longing to him misappropriated by the bankrupts.
The following report, furnished by Mr..Tourquand,
the accountant to the assignees, detailing the "rise,
progress, and fall" of this house, will be read with in-
terest :

" 13, Old Jewry-chambers, 10th Dec., 1855.
" To the Assignees of the Estate of Messrs. Strahan, Pau

and Bates.

" Gentlemen,—l beg to make the following report of
my investigation of the books of Messrs. Strahan, Paul, and
Bates :

"REPORT.

"The bank of Messrs. Strahan and Co. was one of the
oldest on record, dating its origin from the early
part of the reign of King Charles IL At the time of the
bankruptcy the firm consisted of William *trahan, Sir J.
D. Paul, and Robert Meakin Bates. Sir J. D. Paul (then
Mr. Paul) became a nominal partner in 1823, taking no
share of the profits until the death of his father, the late
Sir J. D. Paul, in January, 1852.1:The firm was composed
of Robert Snow, Sir J. D. Paul, and J. D. Paul. William
Strahan, who had changed his name from Snow on in-
heriting a very considerable property from his uncle in
1831, joined the above firm with his brother, Robert
Snow, in 1832. Robert Snow, sen., died in 1835. Robt.
Snow, jun., retired from the bank in 1841. In January,
1842, Robert M. Bates, who had for very many years been
a confidential clerk in the bank, became a nominal part-
ler at a salary of 8001. per annum, subsequently increased
to 1,0001., without any share in the profits. It is not
necessary, for the purpose of elucidating the present posi-
tion of the bank, to go further back than the partnership
of Robert Snow, William Sandby, and John D. Paul,
formed in 1813. On the death of Mr. Sandby in 1816, the
partnere were indebted to the bank in a sum of 29,0001.,
which was apportioned in the following manner;—

Robert Snow
William Sandby 8,989 2 6
John Dean Paul

£29,000 0 0
The debt of Mr. Sandby was paid off by his executors by
the end of the year 1826. At that period the debt due by
the remaining partners had been increased to 53,6001.,
which was apportioned in the following manner : -
Robert Snow 36,3191. 103. 9d.
The late Sir J. D. Paul 17,2801. 9s. 3d.

53,6001. Os. Od.

" The debt was represented by a joint note of the two,
by an arrangement between themselves, and acquiesced in
by succeeding partners. The amount was to be considered
as a debt due, to the bank, to be gradually liquidated by a
certain portion being carried every year to profit and loss.
By this means, at the death of the late Sir J. D. Paul, the
debt had been reduced to 28,500/. ; and at the date of the
bankruptcy had been further reduced to the sum of
23,50 W.
" The balance-sheet now Sled commenced on the 31st
December, 1851, showing a deficiency of 71,9901. 7s. 2d.
Deduct the amount then standing to the credit of Mr.
Strahan's capital account, 10,3301. 6s ld, less the amounts
to the debts of the present Sir J. D. Paul, 2131. 13s. Bd.;
and It. M. Bates (loan) 3,6691. 4s. 4d. (3,882/. 18s.)
6,4471. Bs. ld., left an actual deficicency between assets
and liabilities of 65,5421. 19s. ld.

" This deficiency appears to have been composed of the
following itoms—viz., balance due on a joint estate
28,500'., debt due by the late Sir J.D.Paul 35,477/.128.1d.,
less balance of subsequent receipts and payments to the
credit of his account 10,0841. 15s. sd. to 25,3921. 16s. Bd.,
bad and doubtful debts not written off 2,4161., ditto Hal-
ford and Co. 15,7051. 12s. Sd., estimated loss on valuation
of bank assets 4,3691. Is. Cd., total 76,4131. 10s. 10d.
Deduct amount standing to credit of balances written off
or unclaimed 4,0731. 4s. lid., Halford and Co.'s alleged
surplus as shown by books 349/. 19s. 7d., balance to credit
of Pachier's account 6,447/.85.1d., making 10,870/.113.91,
and a total of 65,542/. 19s. ld.
" It should be remembered that there is one item in-
cluded in the assets at its full amount, the actual value of
which would materially affect the above partition, and
that is a sum appearing to the debit of Lord Mostyn, of
92,0011. 16s. 10d. Between the years 1848 and 1850 large
advances had been made, and in January 1850 a lease of
the property, known as the Mostyn colliery, was granted
by Lord Mostyn to the Bank, to secure a sum of 67,5411.
144.8 d. then due by him.

" The colliery required very considerable outlay to
bring it into productive condition, and upwards of 45,0001.
was so expended by the Bank with this expenditure and
arrears of interest, the amount to the debit of the account
at the time of the bankruytcy was 131,9101. 17s. ld.
Tim colliery had just been brought into a pro-
ductive state yielding, however, only sufficient to
cover expenses and pay the interest on the sum of 45,0001.,
which had been borrowed by the bank on the security of
the lease to meet the necessary outlay. Taking the amount
thus borrowed as an indication of the value of the assets,
the deficiency of the bank would bo increased to about
110,0001. At this date, however, William Strahan was
possessed of unincumbered private property to the extent
of upwards of 100,0001., Sir J. D. Paul about 30,0001., and
R. M. Bates about sufficient to cover his debt duo to the
bank, 3,0001. Taking into consideration the security thus
afforded to customers by the value of their private
property, it may bo inferred that the bank might,
with care and providence, have recovered its position.
The unfortunate connection, however, with Messrs.
J. 11. and E. F. Gandell, commencing in 1852,
and:resulting, at the date of the bankruptcy, in a debt
to the bank of 269,382/. 3s. 5d., with liabilities in addi-
tion on the account to the extent of 103,8701., coupled
with the already heavy withdrawal of capital in respect
of Lord Mostyn's colliery, may be fairly looked upon as
the causes which brought about the disastrous failure of
the bank.

" Messrs. Strahan and Co. were induced, by the repre-
sentations made to them of Messrs. Gandell and Co., to
advance from time to time large sums of money for the
purpose of enabling them to carry out certain contracts
for the construction of railways in France and in Italy,
and for the drainage of Lake Capestang, situated in the
South of France. The profit to be derived by Messrs.
Strahan and Co., on the transactions was 5 per cent. in-
terests, and one-half per cent. commission on all payments
made by them, and the payment of a debt of 1,8001. con-
sidered bad, due by J. 11. Gandell, due to the bank in
1850.

" The debt to the Lank for which no tangible security
was held, soon assumed such gigantic dimensions, and
Messrs. Gandells affairs were found to be in that condition
that Messrs. Strahan, Paul, and Co., imagined they Lad
no alternative left but to continue their advances
for the purpose of maintaining Messrs. Gandells iu a
position to carry on the various contracts, the completion
of which was calculated as a source from which the vast
sums advanced were to bo recovered.
" The time arrived when the reserves of the back were
no longer able to meet these constant drains upon it. Ac-
ceptances were then given and other heavy and particular
liabilities incurred for the purpose of providing the re-
quired funds. These last acts appeared to have led to the
most distressing feature in this case. Almost the whole
of the property of the bank had been pledged, and the pri-
vate estate of Mr. Strahan was resorted to for the same
purpose. The large sums so raised had disappeared,
and there was no alternative but the plynient of the
acceptances and other liabilities as they fell due on the
bank. in the vain hope that the anticipated funds would
bo forthcoming in time to avert the impending ruin, re-
course was had to those means of raising funds the con-
sequences of which are now being visited on the bankrupts
The nature and extent of the securities held by the as-
signees in respect of the debt due by the Messrs. Gandell,
are detaiied in the balance-shaet.
The present deficiencies of the bank are as follows :
Liabilities
Estimated assets

Deficiency _ 524,922 18 5

" It will be seen by referring to the items comprised
in this deficiency, as set forth in the balance-sheet, that
the sums involved in the transactions with Messrs. Gan-
dell's and Lord Mostyn, amount to upwards of 843,0001. of
the whole amount.

"Time has not permitted the completion of the balance-
sheets of the separate estates, but they will be filed as ex-
peditiously as possible. The position of the bankrupts
personal account with the bank, at the time of its failure,
is, however, shown on the face of the joint balance-
sheet now filed.

" Tours,
W. TURGUAND, Accountat."
The following is the joint balance sheet elucidated by
the above report, without which the general reader will
not be able to understand the real position of the bank-
rupts

" To creditors unsecured, 411,2101. 15s. 4d. ; creditors
of Halford and Co., 26,00/. 16s. 4d. ; creditors for securi-
ties sold, 15,9641. Os. ; do. pledged, 94,9111. 7s. &1. ; do.
do. belonging to customers of Halford and Co., 12,802/.
17s. Deduct accounts for which certain of the above par-
ties are debtorw holding security, 13,221/. 12s. 4d. ; total,
110,456/. 18e. 4d. Creditors holding secnrityfully covered,
per contra, 184,889/. 12s. lid ; partly covered, 12,9351.55,
Deduct estimated value of securities held, 12,680/.=-255/.
ss. Creditorsforadvances on pledged securities, per contra,
100,109/. 17s. 4d. ; creditors who issued extents, and were
paid in full, deducted from assets, per contra, 3,5991.25. ld.
Liabilities on account of Messrs. Gandell 103,870/. ; profit
nett 31,304/. ls. 9d. W. Strahan, balance to his credit
after doduoting amount draws out by him for private