The Sun.
London, England, 1865-03-31 00:00:00

The Birmingham Bank Failures,

Yesterday an adjourned meeting of the creditors
of the failed bank of Attwoods, Spooner, Mar-
shalls and Co. was held iu the Town-hall, Birming-
ham, for the purpose of receiving the committee of
investigation appointed at a public meeting on the
16th inst. to ascertain the financial position of the
bank, with a view of securing the earliest possible
distribution of the assets among the creditors. His
worship the Mayor (Mr. Henry Wiggan) again oc-
cupied the chair, and the attendance was even more
numerous than at the first meeting held a few days
after the bank failure. The greatest excitement
prevailed during the proceedings.
The Rev. Dr. MILLER, the chairman of the credi-
tors' investigation committee, read a voluminous re-
port as to the causes of the failure of the bank, the
stoppage of which, the committee remarked, would
form an epoch of painful and surpassing importance
in the history of the Midland metropolis, the em-
barrassing and but too terribly ruinous effects of
which had yet to work themselves out, and must be
felt for many years to come. After tracing the
past history of the bank since the accession of the
Messrs. Marshall in the month of Jaiiidiy,
1854, the committee report that the causes of
the growing deficiency were apparent in the loss of
interest to the bank by the enormous withdrawals by
the Attwood family. The amount of indebtedness
on the part of the several partners was stated as
follows :—George Attwood, £225,000 ;. Richard
Spooner (deducting total value of estates, life policies,
and proportion of profits), £3,448 ; Thomas Att-
wood, £12,286; Thomas Aurelius Attwood, £6,769
—making a total indebtedness of £257,493. The
surviving partner, Mr. Henry Marshall, was returned
as a debtor to the bank to the amount of £1,545 ; but
for this there was an estate which would be available
for the creditors. As regards the gross profits of
the bank it was found that in the 11 years (from
Jan. 1, 1854 to Jan. 1, 1865, without making any
provision for bad debts) these profits were £49,019
19s. Id., or little more than £4,000 a year ; and the
large amount of bad debts had swollen the defici-
ency to upwards of £340,000. The committee re-
capitulated the substance of an interview a deputa-
tion from the creditors' committee had with Mr.
Wolverley Attwood, and laid before the meeting
the final reply of that gentleman to their appeal, iri
which, while expressing his sympathy for the un-
fortunate creditors, he did not admit his moral
obligation to contribute any sum towards making
up the loss the sufferers by the bank failure had
sustained. The statements made at the former
meeting by Mr. Whateley were stated to have been
found substantially correct, and the committee
I added, as the result of their careful inquiries, that
the late bank had been hopelessly insolvent for
eleven years, and that confidence in its stability,
both by depositors and customers, was rather in-
creasing than waning, up to Christmas last. The
report went on to say that the committee had ad-
vertised for tenders for the purchase of the business
and assets of the late bank, and of the tenders
which had been received the committee recom-
mended the acceptance of that of the Birmingham
Joint-Stock Bank (Limited), whose offer was to
purchase the property and assets unon the terms of
paying the creditors of the late bank a dividend of
lls. 3d. in the pound, taking upon themselves (the
purchasers) all costs and expenses. (Cheers.) The
committee, with the approval of the assignees, were
unanimous in recommending that this offer be ac-
cepted by the creditors, and that a resolution be
passed accordingly.

On the motion of Dr. WRIGHTSON, seconded by
Mr. J. R. ALLEN, it was unanimously resolved :
" That this meeting having heard the report of the
committee, is of opinion that the tender of the
Birmingham Joint-Stock Banking Company
(Limited) to purchase the property and assets of
the late bank of Messrs. Attwoods, Spooner, Mar-
shalls, and Co., upon the terms of paying the cre-
ditors an early dividend of 11. s. 3d. in the pound,
and taking upon themselves (the purchasers) all
costs and expenses, ought to be accepted by the
creditors."

A resolution was also passed requesting the
creditors' committee to continue their services for
such further time as may be necessary.
In reply to a question from Mr. J. Suckling.
Pr. MILLER said, with regard to the payment of
11s. 3d. in the pound, the Birmingham Joint-Stock
Bank directors would have to bring the matter

before their shareholders to get the proposal ratified
in the usual manner ; and he believed that at the
very earliest moment at which it was possible, after
the legal ratification of the bargain, the money
would be paid. (Hear, hear.) He added that no
unnecessary delay would be interposed by the com-
mittee or the assignees in realising the proposal.
The proceedings terminated with a vote of thanks
to the mayor.

ALARMING RAILWAY ACCIDENT. Yesterday
morning, about 3 o'clock, an alarming accident
occurred to the Scotch down mail from London at 8.40,
Wednesday evening. After leaving Lancaster a bank en-
gine followed, and, overtaking it, ran into and completely
doubled up the rear vans, injuring the guard and a com-
mercial gentleman. So great was the shock that the mail
was delayed fully two hours.

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TE AT-RE-ROY AL, DRURY-LANE,
Managers. Messrs. E. Falconer and F. B. Chatterton.
THIS EVENING, a New Farce, GOING TO THE DOGS.
Atter which, AS YOU LIKE IT. Messrs. James Ander-
;
son, Walter Montgomery, Waiter Lacy. Sinclair, Rayner
Miss Rose Leclercq and Miss Helen Faucit.

THEATRE-ROYAL, HAYMARKET.
Lessee. Mr. Buckstone.
THIS EVENING, THE WOLF AND THE LAMB.
Mr. Chippenilale, Mr. W. Farren, Mr. Gordon, &c. ; Mrs.
Fitzwilliam, Miss Hill, Miss Lovell, &o.
After which, a New Sensation, THE WOMAN IN
MAUVE Messrs. Sothern, Compton, Howe, Farren, Braid,
White, Weathersby, 13utler, &c. Mesdames Stuart, Lovell,
Buckstone, &c.
Anil EASY SHAVING. Miss Louise K
ight ; Aleslrs. Clark, Gordon, Rogets, &c.eeley, Miss F.
To commence at 7.

NEW THEATRE-ROYAL, ADELPHI.-
~,10 i-rmtrt,tor and Manaser. Mr. B. It curter.
I'HIS EVENING, II .LE . Mr.
J. L. Toole, Mr. Ashley, MrON. BillinPAßgton, MissFRANCAIS an
K. Kelly, d
Mrs. Billhgton.
Alter which, THE LOVE CHASE. Wildrake (his origi-
nal character), Mr. 13. Webster. Messrs. Billington, AshCloey,
Stephenson. Widow Green J..th thne),:llrs. Stirling:; n-
stance (12tii time), Miss Henrietta Simms ; Lydia (her izth
appearance), Miss Sophie Young.
To co wth THE STEEPLECHA.SE or, In the
Pigskin.nclude Messrs.i J. L. Toole, Paul Bedford.; Miss K. Kelly.
Commence at 7.

ROYAL LYCEUM THEATRE.
Under the Sole Management of Mr. Fechter.
THIS EVENING, THE HIDEROA INN. Robert Ma-
Raymond, Collett;
caire, Mr. Emery , Bertrand, M. db ; Messrs. C.
Horsman. Fitzpatrick, Moreland, Garden,
Miss E. Lavenu and Miss Eisworthy.
To be followed by THE STRANGER The Stranger,
Mr. Ryder ; Mrs. Haller, Mdlle. Beatrice ; Messrs. Widdi-
cmib, liorsman, Fitzpatrick, 31‘Intyre, Garden, Raymond ;
Miss M. fienrade, E. Lavenu, and Mrs. C. florsman.

Doors open at Hall-past Six.
The Box-office open daily from Eleven till Five.

LYCEUM THEATRE.-MR. FECHTER'S
reappearance Pill take place on Easter Monday, on
whieh-oecasion he will perform, for the first time at this
theatre, a new character.

ROYAL PRINCESS'S THEATRE.
Sole Lessee and Manager, Mr. Geo. Vining.
THIS EVENING, a new Farce, by Mr. David Fisher,
entitled HEART-STRINGS AND FIDDLE-STRINGS.
After which, AR RAH NA POGUE : Mes3rs. Dion Bouci-
cault, J. Brougham, H. Vandenhoff, D. Fisher, 1). Murray ;
Mrs. Boucicault and Miss M. Oliver.
To conclude with AN AMPLE APOLOGY.

ROYAL STRAND THEATRE.
Sole Lessee and Manageress. Mrs. Swanborong,h.
THIS EVENING, at 7, CROSS PURPOSES: Mr. Par-
Belle; Miss Palmer.
After which, the great Comic Drama, MILKY WHITE.
Alec srs. Craven, Stoyle, James; Miss Swanborongh.
To conclude w.th MAZEPPA. Messrs. Fenton, James ;
jgeodames ltaynham, Simpson, Johnstone, &c.

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entitled