The Sun.
London, England, 1862-10-07 00:00:00

STRANGE DISCLOSURES.

John Jennings, Esq., F. S.S., director, secretary,
and shareholder of the North Carrock Mining Com-
pany, was summoned before Mr. Alderman Gabriel
at the Guildhall Police-court, for unlawfully, and by
means of false pretences, obtaining two dividend
warrants for the respective sums of £ll5 9s. 11d.
and £l9 55., and four bankers' cheques for the re-
spective sums of £l2 10s., £l7 Bs. 3d., £l3 1 ls.,
and £24 4s. 9d., from Messrs. Newton, Keates, and
Co., of Liverpool ; and the summons further alleged
that the defendant had not accounted for any por-
tion of the value of the said securities.

Mr. Lewis, jun., conducted the defence.
Mr. Metcalte, for the prosecution, said he was in-
structed on the part of the directors of the North
Carrock Mining Company to place this case before
the Court. The company was originally formed for
the purpose of working a particular mine, and the
defendant was, some ten months ago, appointed sec-
retary. He also held some shares, and had been a
director, His salary as secretary was £5 per month.
In August last it was proposed to purchase some
property in connection with the mine already the
property of the company, but as the funds would
not admit of it the speculation was abandoned, to
the great annoyance of defendant, who had sug-
gested it. He therefore refused to produce the books
in his care, and other circumstances transpired which
led to his dismissal from the secretaryship. He ac-
quiesced in that dismissal until Sept. 11, when he
obtained access to the office and took possession of
the books and a letter containing the securities men-
tioned in the information upon which the summons
was granted. The amount of those securities was
£199 ; and although they had failed in tracing
some of them, they had ascertained that others
had been actually cashed and no account ren-
dered of the money. Under these circumstances
the present charge was preferred. If the defen-
dant was no longer secretary the charge would
be one of stealing the letter and securities ; if
he were still secretary the offence would be that
of embezzlement..
Mr. Jessie John Tustin said—l live at Bar-
net, in Hertfordshire, and carry on business as a
chemical colour manufacturer at 83, Upper Thames-
street. lam one of the directors of the North

Carrock Mining Company, Limited, which has been
in operation about two years. The defendant was
appointed secretary pro tern, on the 6th of February
last.

Mr. Lewis—Secretary pro tem., and by the same
resolution he was appointed director also.
Mr. Alderman Gabriel—This was not the first
meeting of the directors ?
Mr. Tustin—No, sir. We were filling up the
vacancies according to the rules. There was no
subsequent appointments with regard to the secre-
taryship, and nothing was mentioned in the resolu-
tion of the directors about salary, but an arrange-
ment was afterwards made by which the defendant
received £5 per month. I acted as chairman of the
company. The defendant acted as secretary before
he was appointed, 'ILO the last payment made to
him as salary was onthe 11th of August last. On
the 13th of the same month there was a board meet-
ing, which was adjourned to the 14th and the de-
fendant was present on both days, and ultimately,
after refusing to produce his books, left the meeting
in consequence of the directors declining a proposal

of his in-connection with an additional purchase
which he wanted the board to make, I did not feel
inclined to find the money for that purchase and
the company had no funds. I have not seen him
since, but I have been informed by a clerk that on
the .11th of September the defendent called at the
office at No. 7, Tokenhouse-yard, and abstracted
from a box certain books, and also took away with
him a letter from Messrs. Keates, and Co.
On the 21st of August, in consequence of defendant's
absence, a letter was addressed to him requiring
him to place all the company's books, papers, and
documents then in his possession under the control
of the directors, and upon his not complying with
that requisition they, on the 25th of August, took
possession of the box, and then ascertained
that some of the books had been abstracted. The
books, &c., missing were the bankers' pass-book and
cheque-book, the petty cash-book, the articles of as-
sociation, and the key of the common seal of the
company. On the 28th of August a resolution was
passed dismissing defendant from the secretaryship,
but no notice of such resolution or dismissal was
forwarded to the defendant. I knew the defendant
was about, and I also knew where to find him. The
defendant sent a reply to the letter of the 21st of
August, requiring him to give up the company's
books, &c., in which he explained the reason of his
continued absence to be that the offices were to un-
dergo repairs, and to be repainted, and as soon as
the work was done he would return to his duties.
On the 14th of August a firm of the name of Newton,
Keates, and Co., of Liverpool, were indebted to the
company in the amount of £199 Bs. 11d., for lead
supplied, and the letter acknowledging the receipt
of securities to that amount and the receipt are in
the handwriting of and signed by the defendant.
The endorsement on the cheque, which has been
cashed, is also in defendant's handwriting. It has
passed through the London and Westminster Bank.
. Mr. Lewis—l am quite willing to admit the re-
ceipt of the chequ,s and cashing them also. My
client claims a certain sum, and has only secured
himself by what he has done, so as to enable him to
litigate the question, if necessary.
Mr. Tustin—While the defendant was secretary
it was his duty to have handed over these securities
to the London and County Bank. He has not done
so, neither has he handed any of them, or the cash
for them, to the company.
Cross-examined—l became aware of what the de-
fendant had done on the 12th of September. One of
our clerks told me, and said defendant left a message
to that effect. No answer was returned to the
defendant's letter of the 23d of August, and on
the 27th of the same month another letter was
received from the defendant from Clitheroe,
in Lancashire, in which he assumed that
he had the tacit consent of the directors for his
continued absence from his duties as secretary. On
the 28th his dismissal was entered on the minutes,
but no notice sent to him, and on the same day he
was removed from his office as director.
Mr. Lewis—Was that at the meeting of directors
or shareholders ?
Witness—lt was an extradinary meeting.
So it seems (laughter) ? but it was a meeting of
the board, was it not ! No, sir ; it was a meeting
of the shareholders. He was dismissed from the
secretaryship at a meeting of the board of directors,
and from the directory by a meeting of shareholders.
He was not summoned to the board meetings, as we
always met on a Thursday ; neither was any notice
given to him that his dismissal would be brought
Ibefore the board. He was a shareholder to the
value of £2OO, and he held other shares in trust to
the value of £5OO, every director having a similar
amount entrusted to him to dispose of. They were
transferred to him, but he paid nothing for them,
on the understanding, that he was to return them
or their value in money when called upon. The
mines belonging to the company were the Dry Gill
and the Roughten Gill Mines. The Dry Gill Mine
was not a speculative undertaking, because it was
at work on the 14th August, although but slightly
productive. The Boughton Gill Mine was more
productive. They both belonged to me before the
company started. The company agreed to purchase
) the Dry Gill Mine for £4,000 but they did not carry
out the purchase. I was to have £l,OOO in cash,
and shares for the other £3,000. The Roughten
Gill was to be transferred to the company at its
actual cost price. That was the more productive
mine, and I wished to get it retransferred to me.
Now at the meeting of the 14th of August did
not the defendant say he would not sit at the board
to permit such a deception to be practised on the
shareholders as to take away the best mine P—No,
sia, not in those words.
Did he not say that he would withdraw his at-
tendance from the board rather than see the share-
holders plundered P—No, sir.
Did he not say that he would not attend if such a
matter were allowed to go on ?—He did, sir. I do
not admit that he said that he would not attend ; I
only recollect there was some noise and a good deal
of bluster.
Who were the directors left after you removed
defendant and Mr. Hodgson ?—Myself, my son, and
my intimate friend Mr. W. Bayley Bray. (Laughter.)
And after removing the defendant and the other
gentleman, you got the whole matter into your own
hands ?—Yes, sir; but I did not get rid of Mr.
Hodgson, for I have his letter which will show the
reason of his leaving.
Mr. Metcalfe here put in the letter to show that
the writer had tendered his resignation,
Mr. Lewis—Mr. Metcalfe might have read the
letter correctly. Mr. Hodgson had acted like a
well-bred dog, he walked out to avoid beingkicked
out. He was, however, dismissed on the 28th of
August with the defendant, and his letter of resig-
nation is dated the 30th of August.
Witness—His resignation was accepted on the
4th of September, after he had been dismissed. I
transferred shares to my son to qualify him as a
director. I also transferred shares to Mr. Bray to
make him a director.
So you pretty well got the whole matter into your
own hands ?—Yes ; and I also transferred shares to
the defendant and to. Mr. Hodgson for the same
purpose.
?----You may
Then it was h
all your own
aotwtnhecdo
a a yA sr oe . y 0 (uL
not
ou
tg
a wt ear
r.
defendant has a large
claim against the company for secretary's salary and
!director's fees ?--No. Hip, salary
- 417 W6B paid regu%

larly, £1 ss, per week; but there was no money to
pay any of the directors their fees.
Mr. Alderman Gabriel—How much money has
been paid up on these shares ?

Wiiness-7The banker's book will tell you.
Mr. Alderman Gabriel—l am satisfied you have
the information in your head, if you feel inclined to
tell me.

Witness—The deposit of ss. per share has been
paid up on some shares.
Mr. Alderman liabriel—Upon how many shares?
Witness—Only a few, sir.
Have you allotted the shares upon which you re-
ceived deposits ?—No, sir.
Mr. Alderman Gabriel—That is a very extra-
ordinary proceeding. Your prospectus states your
capital to be £20,000, in 4,000 shares of £5 each,
deposit ss. per share and 15s. on allotment. As
there has been no allotment of shares upon which
deposits have been paid, who were the shareholders
who dismissed the defendant from the board of
directors ?
Mr. Lewis—How many shareholders were pre-
sent at this extraordinary meeting ?
Witness—Three sir. (Great laughter.)
Mr. Alderman Gabriel—Who were those ?
Witness--Myself, my son, and Mr. Bray. (Re-
newed laughter and cheering.)
Mr. Lewis—That is what you call an extraor-
dinary meeting. (Laughter.)
Mr. Alderman Gabriel—Or perhaps you would
call it "an influential meeting of shareholders."
(Laughter.)
Mr. Lewis—Those were persons who had re-
ceived transfers of shares from you to qualify them
as directors. Was any one present at that meeting
who had paid one shilling on his shares ?
Witness—Yes. There was a party there who
had paid thousands of pounds.
Who was that ?—Myself. (Roars of laughter.)
Mr. Alderman Gabriel—l see by the articles of
association that there are a number of gentlemen's
names put forward as directors in 1860. What
became of those names ?
Witness—They resigned in February, 1862.
Had they held any shares ?—No, sir.
Then putting their names in this prospectus was
all a sham P—No, sir, for they were to have taken
shares.

But you sent out a prospectus to the public an-
nouncine these persons as properly qualified direc-
tors. Would not the public be justified in coming
to the conclusion that all those i,entlemen held
shares in the undertaking ?—Certainly they would.
Mr. Alderman Gabriel—Then do you not think
it is a sham and a fraud upon the public to put forth
such an announcement ? Ido not hesitate to say
that it is a sham and a fraud on your part towards
the public, to send out a book like this with a list
of directors totally unqualified according to the
articles of your association.
Mr. Lewis—My client was not connected with.
the company at that time.
Mr. Alderman Gabriel—My observations do not
apply to your client, Mr. Lewis. The whole thing •
upon the face of it is a fraud upon the public ; and.
I should advise you, Mr. Tustin, to have a little
more thought in future before you place yourself •
again in such an equivocal position. Really the
public ought to be obliged to you—(tremendous
cheering and laughter)—for bringing this matter
forward, as a flagrant instance of the manner in
which companies are got up by persons for the pur-
-1 pose of putting money into their own pockets. Yon
have placed yourself in a most disgraceful position,
and I do not think it necessary to go any further
into the case. I therefore dismiss the summons. •
Mr. Alderman Finnis—l quite concur in the whole
of Alderman Gabriel's remarks, and I may add that
if any money has been paid to the company under
the circumstances divulged there will be very
good grounds for a charge of obtaining, money under
false pretences.
The decision and the concluding remarks of the
worthy aldermen were received by a crowded court
with such a burst of cheering and derisive laughter
as is seldom heard within the precincts of a court of
justice, amidst which the defendant and his counsel
quitted the court.

G'OUNIRY MA KILE2S.

,i,

COLCHESTER--Our. 4.
The supply of wheat to-day at market showed a great
falling off, farmers being very careless sellers at the low
prices current lately. Good qualities of wheat were no
cheaper, and sold steadily ; prices were about the same as
last week : inferior descriptions dull, and lower. Barley
in fair request at late rates.
Wheat, white. 488 55s Beans, Mazagan..3ss 400
red 47s 52s middle & small.3Bs 44s
Barley
Oats

GLOUCESTER—OcT. 4.
To-day there was an increased supply of English wheat
of market, and the demand was fair, in buyers' favour.
Foreign in slow demand. Barley rather cheaper. Oats
and beans dull at former prices.

CHELMSFORD—OcT. 3.
A good supply of wheat to-day, but buyers would not
submit to prices offered, and consequently prices were is to
2s per qr lower. The trade was dull. Spring corn was
much the same as last week, except barley, which declined
about is per qr.
Wheat, old white 39s 56s
new 19s 54s
old red 44s 52s
new 43s 51s
Barley ..30s 39s
Chevalier ..30s 42s
Grinding 24s 32s
Malt. 6ls 67s
Chevalier 64s 69s
Oats 22s 29s

Peas, Partridge- 37s 42s
White 39s 40s
Boiling 4os 43s
Dun 35a 380
Ditto new .. —s —s
Beans, Tick, old 34s 393
new —s —8
Harrow Ticks 3ss 408
new —s —8
Mazagan 34s 388

KIRKCALDY GRAIN—OcT. 4.
We had very trifling supplies of grain to-day, both old
and new. The new wheat weighed from 511 b to 6111 b per
bushel. Barley is down in price.
Wheat. Barley. Oats.
First....32s Od 1 21s 6d I 27s Od.
Second ..52s 6d 26s Od 28s Od
Third....—s Od 30s Od
—s Od

COAL 1V
(Prfoes of Coal per Ton a'

:ARK.ET.
the close of the market.

Wylam a. d.
....... .16 0
Camay and Duffryn
Malting ... 23 6
Do. Anthracite.. 21 6
Holywell . .15 9
Lambert's West Hart-
le l5 6
Edeny Main . 16 6
Cowpen Hartley 15 9
Bower's West Hartleyls 9
Byass's Bebside West
Hartley 15 9
Craighead. Steam 13 6
Davison's West Hart-

s. d.

Walls End.
Haswell lB 0
Braddyll's Hetton. 17 0
Hedley l6 0
Stewart' s l7 6
Russel's Hetton 16 9
Hetton
Thorpe . . ..16 0
South Hetton 18 0
Hartlepool 17 6
South Hartlepool...' l6 6
Trimdon Hartlepool. l7 6
Tunstall . ....... l6 6
Kelloe . . ............ l7 0
South Kelloe . 17 0
16 0
Belmont 16 3
Framwellgate l6 0
Trimdon Thornley 16
Whitworth l5 0
Cassop l7 0
Eden 15
233 ; sold, 177.

ley..
Hastings Hartley ....15 9
W alker Primrose .....12 6
Tanfield Moor ........ 12 6
Tanfield Moor 8ute5..1.2 6

Walls End.
Heugh Hall .......... 16 6
Ships at marks

FOREIGN HAIL PACKET LIST.

MAILS DUE.
Australia and Mauritius, via SouthamptOct. 19.
via Marseilles ..........0ct.....13.
Brazil and Cape Yards, by British packet. ...... Oct. 4.
Cape of Good Hope, Ascension, and St. Helena.. Nov. 1.
China, Penang, and Sin ~$' via Southampton. Oct. 2.
via Marseilles ...Oct. 13.
Falkland Islands
Oct. 4.
Gibraltar, via Southampton .. Oct. 2.
India (Calcutta), and Ceylon, via Southampton Oct.
via Marseilles Oct. 13.
India (Bombay), via Southampton Oct. 16.
via Marseilles ........ Oct. 9.
Lisbon
Oct. 4.
Malta, Egypt, and Aden, via Southampton Oct. 2.
via Marseilles Oct. 9.
Newfoundland Oct. 15.
Oporto and Vigo
U. 8. and British N. America, by Brit. packet.... Oct. 9.
by U.S. packet....
by Canadian packet. Oct. 3.
W.C. of Africa, Madeira, and Teneriffe
Bahamas, via New York Oct. 23.
Mexico. ........................ .. .. e• •
All
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