The Sun.
London, England, 1847-11-01 00:00:00

MARYLEBONE VESTRY.

On Saturday a very fully attended meeting of this
vestry took place, for the purpose of considering a
notice of motion, of which Mr. J. F. Standford had
given notice last week, relative to the influx of Irish
paupers.
Mr. STANDFORD, in bringing the subject before
the vestry, said, if he felt himself justified in bringing
this subject under the notice of that board at their
previous meeting, the information he had since re-
ceived tended more than ever to show that he was
right in doing so, and that the matter was worthy of
the most serious consideration. He was prepared to
prove, that so far from the evils arising from the emi-
gration of Irish paupers being likely to diminish,
they were frightfully on the increase. He had ob-
tained his data, not from any newspaper reports, but
from the high constable of Liverpool, who proved
that the influx of Irish paupers was daily increasing.
—(Hear.) During the present week no less than,
3,133 persons of this class had arrived at Liver-

pool; the numbers who so arrived in September
were 10,369, and during the present month the number
amounted to 11,772. These parties not only brought
with them filth and disease, fever, diarrhoea, and
other contagious disorders, but they were for the
most part pilferers and plunderers, even in the open
day. Mr. Standford then proposed that a memorial
should be presented to the Secretary of State for the
Home Department, setting forth the evils arising
from the great increase of Irish paupers, and urging
upon him the necessity of renewing the precautions
adopted in the spring of the year, of instituting,
under the protection of the Custom house officers at
the several ports, a system of quarantine, so as to
prohibit the entrance of those paupers who were dis-
eased. He farther proposed that a resolution should
be passed by the vestry, to be respectfully transmitted
to the board of guardians for their consideration, by
which resolution the vestry should express its wish
that all the Irish poor who had rut became settled for
five years in the parish should he roruoved—that those
poor who had applied for relief should first be searched,
to ascertain whether they had sufficient means of
supporting themselves—that none should be relieved
without also being made to work—and that no relief
should be given in money. He (Mr. Standford)
thought if such resolutions as these were adopted the
example would be followed by other parishes. Thry
would act as an effectual check upon Irish pauperism
in the metropolis.
Mr. Lewis rose to object to the resolutions, on the
ground that no notice of them had been previously
given. The notice given last week did not extend
so far.

After some discussion Mr. STANDFORD withdrew
his motion, and gave notice that he would bring on
the memorial and resolutions on Saturday.
THE LIGHTING OF MARYLEBONE WITH GAL
The VESTRY CLERK read the memorial from the
Western Gas
theLiight
permissionCompate of the vestrystablishedatliea to
lay
sall-
green, requesting
their mains throughout the parish of Marylebone.
Mr. CARR rose to move the appointment of a corn.
mittee. He considered this subject one of great im-
portance to the public. The high price of gas in the
metropolis had long been a matter of
housand
complaint.
Whilst in London they had to pay 7s. per thousand
cubic feet, in Birmingham and Manchester it w
per was ob-
tained at from 3s. 6d. to 4s. thousand cubic feet,
eannadblaeldthtoougphay a that
dividend
enthdeofcatseen thecompimciesheswpeeere
London the companies who sold gas the per cent. Even t
in
paid the largest dividend.
Mr. GLAZIER seconded the motion.

Mr. SOD E N su p p ori edt he committee, as be thought
the most beneficial effects might result to the rate-
payers by their putting themselves in communication
with the managers of the Western Company.
Mr. BELL had expressed his doubts last week as to
the satements put forward by the deputation, that
the gas proposed to be supplied by this "Western
ea e
inh asitaatrirnigved thatat
Gas Company" was both purer and stronger than that
supplied by any other. He had since made it his
business to investigate the data upon which the che-
mistsand he mentioned
hare d
pleasure
their conclusions were correct.
their conclusion, whose
n a m
aens
After some further observations,
,the resolutions
were put and carried, and a committee was appointed.

IN
respectablegt
s: alear _ .
cwaoogannesndeht
hxet
eliv
%do,
enbbr
is
oyt
ydiMy.nfirve.l
le
1.70
anT.
Monmouth-
shire, SUICIDE
iSmAnaadt
nwtim
nrodhsrai
tyhle
\ciergrivohiecinysai.n
Ins
ti I
Richards,iprrEi inquestsc onn ss-sT R n n 'r Panort.—On
shire, and formerly a clerk in the Post-office, who com-
mitted a frighful and determined act of suicide, by
cutting his throat with a razor and then throwing him •
self out of the window. From the evidence of several wit-
nesses it appeared that the deceased became an inmate
of the prison on the 10th of June last, at the suit of a
Mr. Sayer, for 102/.125., and on the 12th a detainer was
lodged against him by Mr. Temple, of Furnival's Inn,
for 105/. At first he seemed in good health and spirits,
which, however, gradually declined, and he became at
intervals greatly depressed. On Friday week, being evi.
dently more diseased in mind than body, he was ad
milted into the infirmary, when he rallied ; his recover
being greatly accelerated by being made acquainted_rB__
urdenwith
the praiseworthy exertions in his behalf of M f a
the governor, who, on account of his perturbed sta: to
mind and ill-health, had effected an arrangementt,avo taken
with
his creditors for his discharge, which would
place on Saturday last. Oa Friday
afternoonhe wits
in bed, and left alone in his room in the infirmaryrai
was
lying
ap-
parently asleep, but shortly atter
of
blood. foundi)oc Decease
on his back in the yard inma poolhs f
family, and his wife,
bad been long estranged
.taromay i
1846, in her evich-net,
to whom he was married i
from the commencement
she bad not seen him .
said that
The jury having math, some ob-
servationsof the
ofthe deceased, and the eireurn-
on the youth
connected with his melancholy end, retutued a
srtearndcicets
of .
Temporary insanity."

THE MONEY PRESSURE.

measures contemplated by the directors to liquidate
the claims of the depositors.
An investigation into the affairs has established a
more favourable balance-sheet than l'ad been antici-
pated. A dividend of ös. in the pound is stated to be
certain, and possibly it may subsequently reach the
proportion of 15s. Messrs. Barton, Main, and l lig-
ginson's-estate exibits liabilities to the extent of up-
wards of 800,0001., and the assets a deficit of about
10,000/.

The cotton-market has again been depressed, with
drooping prices and small sales. The wool-market is
somewhat improved since our last report on the 231
Flour continues firm at the recent rise.
From Newcastle the accounts with regard to the
meeting of shareholders of the Union Bank are, as
you will perceive from the report annexed, indeter-
minate. As in Liverpool, a committee of shareholders
was formed to examine into the affairs of the bank,
and it is stated that, should the results of the investi-
gation sanction such a step, the committee are em-
powered to resume the operations of the establ,h-
ment. It was considered probable that a call of 21
per share would, in that result, be made. The capital
of the District Bank it was intended to increase to
the extent, it was reported, of 300,0001, the new
shares being open preferentially to those at presen
holding stock. The pressure upon the other bank
had ceased.—Timeg.
MEETING 0

THE ROYAL BANK OF
LIVERPOOL.
A meeting of the directors and shareholders of the
Royal Bank of Liverpool was held on Saturday, at 11
o'clock, at the Royal Bank. Mr. Josias Booker was
in the chair. Mr. Alderman Thompson, of London,
was present, and the room was crowded with gentle-
risen of wealth and eminence in the town.
The report was first received. It was as follows :
" Report of a Committee appointed at a Meeting of
Shareholders, held at the Royal Bank of Liverpool,
on Saturday, the 23,1 of October, 1847.
Having been deputed by a body of shareholders
to inquire into the position and circumstances of the
Royal Bank of Liverpool, and the causes which leel
to its present difficulties, we have been engaged dili-
gently in carrying out the onerous and very respon-
sible duties assigned to us, and beg leave to report—
" That the main feature of the case is that which is
already matter of public notoriety, the absorption c I
a large portion of the paid-up capital of the bank by
the operations of one house—Messrs. Barton, Irlam,
and Higginson, and the simple history is, that the
manager, having advanced a large amount upon as-
surances which were not fulfilled, he would then have
brought the account to a close, but was not supported
by the directors of the day, in his strongly- espressec
opinions; and upon resuming his duties, after an ab-
sence of a few months, consequent upon ill-health;
Sir Tbomas Brancker acting as manager in the mean-
while, the advance had reached an amount which put
at hazard the existence of the bank.
" Although we instance the one great account, we
think it our duty to state that our attention has been
directed to other instances of large advances for which
the bank has only securities of so unconvertible a cha-
racter as to be unavailable for banking purposes ; and
at a period of general pressure such accoun is have
necessarily added to the difficulties which the bank
has had to encounter.
" We have had under our review the balance-sheet,
in every possible detail ; the bills of exchange in band,
and the obligations of the bank by endorsement, and
the letters of credit outstanding; also the various spe-
cial securities held by the bank, and though we
cannot pretend to pronounce absolutely upon their
value and effect, we look upon their validity with
confidence.

~.."Roi,l;aving received any statement from Messrs.
Thu-alartorsin
arir,ltr, and Higginson until a late hour on
shortness of the time has precluded that
close analysisse
examination that so important a
document requires,
opinion of thea which would enable us to
form any
result of the estate.
" A synopsis annexesi
assets oche bank will showhereto of the liabilities and
that the latter far exceed
the former; but, whatever may ay be the decision of the
shareholders as to resuscitating the bank, er placing
it in liquidation, we recommendimade,in order
a call of 1001. per
withr claims
der
little that the
conve-
nience to be forthwith
of the depositors may be paid
we hope the share-
holdersto respond to
nience to them as possible ;
and
duty
as
will feel it an imperative
this call, for the benefit of those
confidence to the bank. who have given their
facility
find the books
and accounts kept in an efficient state ; at the same
time we cannot refrain from expressing our deep
regret that an establishment so well calculated to
maintain the highest character and position, and to
be of such essential service to this great commercial
community, should, in its operations, have produced so
grievous a disappointment to the shareholders and the
public.
" It now remains for the proprietors to determine
whether they will endeavour to resuscitate and re-
construct the bank, or that they will proceed to im-
mediate liquidation.
" The directors agree generally in the foregoing
report, and therefore do not consider it necessary to
tnake a separate one."

LIVERPOOL, SATURDAY EVENING.—The second
week 'of ithe extreme financial crisis in Liverpool is
now closed ; and fortunately, the curtain falls under
circumstances more cheerful than those which at-
tended the termination of last week. The daily pro-
gress of the one was marked by ruin among our com-
mercial firms ; that of the other, save in one instance,
has been unattended by any new disaster. The end
of the one was coeval with the suspension of a vast
and important firm ; the close of that which we now
chronicle is free from any new tinge of gloom or mis-
fortune. Discounts were then almost beyond attain-
ment; now good paper is at least received by the
banks, though at heavy rates; and railway property,
which in the one was reduced to a ruinous degree, is
now considerably enhanced in value, North-Westerns,
which on the 23d were quoted at 1451. 10z., being
held to-day on the Stock-Exchange at 1491. The
price of cotton, it is true, has participated in this
movement; yel the prospects of the crop are more
favourable; and there exists little, if any, of that ten-
dency to speculation so much abhorred by the manu-
facturers of Manchester.
Stich is the satisfactory statement with which this
evening it is my duty to gratify your readers ; and
happy would it be were the accounts received from
our !sister city, Manchester, and the manufacturing
districts, similar in tone and tendency. There, how-
ever, ruin has fallen upon several mercantile estab-
lishments. Among the houses announced are the
following :—Messrs. Rodgett and Brierly, spinners,
of Blackburn, with liabilities estimated at 70,000/. ;
Messrs. Swainson and Birchwood, with ample assets;
J. Barton and Co., silk dealers, 25,0001. being the
debt, according to report; W. Hartwright, twist,
silk, and cloth agent; Inglish, manufacturer; J.
Barton and Co., the assets being estimated at one-
fourth of the entire liabilities of 20,000/. ; and J.
Gillow, manufacturer, of Preston, the latter having
been involved in the suspension o/Barclay and Co., in
the City. The total liabilities, however, do not, it
would appear, extend to any very large amount.
From Glasgow we have accounts of two suspen-
sions of mercantile houses in that city ; Messrs.
Pearson, Wilson, and Co., foreign merchants, being
the first, and Kilgour and Leith, a shipping and West
India firm, the second. The suspension of the latter,
we learn from the Glasgow Argus, has arisen from
the general monetary pressure and the recent im-
mense depreciation of West India property. The
firm had been for some time past reducing its trans-
actions and their liabilities to Glasgow houses are
estimated to be under 6,0001., but the debts due in
the metropolis are believed to be about 50,0001. The
assets are represented to be considerable, though the
amount they are considered likely to realise is uncer-
tain, from the depreciation of property and prices.
The general accounts from the manufacturing dis-
tricts of Lancashire are also of a gloomy character.
Fresh instances of reduced employment had occurred,
and the markets for manufactured goods exhibited no
improvement. As an instance of the extent of the
panic last week, it may be mentioned that 1,3001. in
small deposits were withdrawn from the savings-bank
in Preston in distrust of its safety.
Our local commercial affairs have since yesterday
remained unchanged to any important extent. At-
tention has been absorbed almost exclusively by the
proceedings of the Royal Bank shareholders, a semi-
official report of whose proceedings is hereto appended,
and from an inspection of the report and accounts
you will perceive that they fly warranted the in-
formation previously communicated to you with re-
gard to the position of the bank and the responsi-
bility of its management. Mr. Alderman Thompson,
as a large shareholder, was present, and led that
section of the proprietors which advocated the liqui-
dation of the liabilities and subsequent dissolution of
the bank. The feeling of the meeting, however,
was opposed to this measure, and an amendment,
moved by Mr. Samuel Ilolme, adjourning the deci-
sion of the question during further inquiry, was
adopted by a very large majority; and, accordingly,
the decision in regard to the estab:ishment is now
postponed until Saturday next. Of the whole, you
will, of course, form your own opinion ; but in order
to a correct understanding cf the responsibility of the
management, it may be remarked, that three di-
rectors whose signatures appear to an annexed ex-
position of the matter, had exhibited to them weekly,
gs well as to their chairman, the balance-sheet of the
bank ; and much sympathy is expressed in all quar-
ters for the position of Sir Thomas Braneker, the
chairman in question. There can be no question us
to the mismanagement; but justice should apportion
censure with an impartial hand. In relation to other
banking establishments we have no new intelligence
and as yet we are uninformed as to the nature o

STATEMENT OF THE AFFAIRS OF THE ROYAL BANK OF
LIVERPOOL, OCT. 22, 1847.
Capital paid up ••• ..• £646,330 0 0
Reserved surplus fund 100,000 0 0
Contingency Fund ... 44,125 1 8
Valuation of bank buildings £65,000
Less amounts not liquidated 25,000

Profits since June, estimated at

ASSETS.

40,000 0 0
30,000 0 0

£860,475 1 8

Cash bills ... ... ... ... £143,617 13 6
Dormant account ... ... ... 116,289 11 0
Cuerrnt accounts ... ... ... 1,500,847 0 4
Royal Bank-buildings ... £65,000
Profits since June, estimated at 30,000

95,000 0 0

£1,855,754 4 10

LIABILITIES.
On deposit accounts £645,967 7 9
On current ditto ... 349,311 15 5

ESTIMATED LOSSES.
On unpaid bills ... £37,240 6 2
On ascertained bad debts 30,936 12 6
Depreciation of securities 42,936 10 0

Total estimated loss £111,136 8 8
Bal. of capital remaining 749,338 13 0

995,273 3 2

860,475 1 8

£1,885,754 4 10
The following report was also read:—
" Report of the undersigned, three of the directors
of 1846, to the meeting of proprietors in the Royal
Bank of Liverpool, appointed to be held on Saturday,
the 30th of October, 1847.
" We, the undersigned, in addressing ourselves to
our brother proprietors, in reference to the stoppage
of the bank, cannot refrain from giving utterance to
our bitter regret and keen disappointment at the pre-
sent position of this great establishment, and all we
can urge is, that in the course adopted, unfortunate as
it has proved in result, we had no better object in view
than to serve the interests of the proprietors.
" But our first act on the present occasion is one of
clear and obvious duty. It is well known that over-
weening confidence in the stability of one great mer-
cantile house, followed by the extraordinary pressure
of the times, has caused the stoppage of the bank. In
that confidence your manager, Mr. Chaffers, did not
continue to share. Nay, when the debt was about
one-third of its present amount, and Mr. Chaffers was
on the eve of departure from home on account of his
health, he earnestly remonstrated against any further
advance being made to the house in question ; but the
directors were of a different opinion, from the assur•
antes of honour, wealth, and integrity of the principal
partner, and fear of the bank being stopped, and did
not act upon Mr. Chaffers' recommendation.
" In June, 184 G, Mr Chaffers went from home,
and, with the exception of one short interval, was
absent from the bank about seven months. During
his absence, Sir Thomas Brancker undertook the
office of manager of the bank, and held, in addition,
the office of chairman of the directors.
"In the position in which Sir Thomas was now
placed, confident of the stability of the house and
reposing implicitly in the integrity and good faith of
the principal of the firm, he was led on by degrees to
make advances, even in the face of promises unfulfilled,
until the amount was literally too overwhelming to
contemplate, and the firm was then upheld, least the
hank itself should go down.
" In thus adverting to the name of Sir Thomas
Brancker, we have no wish to cast an undue share of
blame upon him ; but it is right that the proprietors
should know that we were not acquainted with the
details of the transactions as they occurred. Whilst
Mr. Chaffers was at home Sir Thomas Brancker alone
was admitted to a knowledge of the accounts of the
customers ; during his absence Sir Thomas alone
possessed this knowledge. But we are bound to con-
fess that Sir Thomas Brancker did occasionally con-
sult us in reference to this account, and that we beheld,
with consternation, its increasing amount.
"In the step taken from time to time by Sir
Thomas Brancker alone, as well as those taken with
our sanction, we can solemnly assure the proprietors
everything was done, as was supposed at the time, for
the best. We now see, however, that the resort to
concessions, where firmness against encroachments
ought alone to have been displayed, was a grievous
error of judgment, and one which we shall never
cease to, deplore.

" WILLIAM SHAND.
" EML. ZWHILCHENB ART.
" CHARLES S. MIDDLETON."
The report of the committee, and a synopsis of the
accounts having been read, a desultory conversation,
which, reporters not having been admitted, it would
be impossible to render with any accuracy, ensued.
It was th-n resolved unanimously, On the motion
of Mr. Alderman THOMPSON, seconded by Mr.lluctr
Ducxwowrir, That the report then read ha received,
and that the best thanks of the meeting be given to the
committee of the shareholders, for the trouble they
had taken in the investigation."
Mr. Alderman Toompsox then moved, and Mr.
JOSEPH CoorEa, seconded, " That a committee of the
,hareholders be appointed to proceed to the immediate
liquidation of the bank."
Mr. Alderman Tnompsom, in bringing forward
this resolution, expressed his regret at the circum-
stance which had called them together. Considering,
however, the great number of depositors, and the
inconvenience to which they would be put by any
delay in the withholding of their money, he thought
it would be much better that the affairs of the bank
should be wound up with all possible speed.—(Loud
cheers.) He felt mortified that he could not with-
hold his great disapprobation at the manner in which
the affairs of the bank had been cpnducted. Ile en-
tertained a great respect for Sir T. l3rancker, but
that respect should not prevent him from condemning
in tote his management of the concern. The Hon.
Alderman added also some very severe remarks upon
the conduct of the directors.
Sir T. BRANCKER, in reply to Mr. Alderman
Thompson, said that he was as deeply interested in
the bank as any gentleman present. If the ship was
he did not desert it. The course he took was,
he felt satisfied, the only one open to him, and al-
thongh the disaster had fallen upon hire, it had arisen
from circumstances which neither he nor any other
man could have foreseen.
Mr. JOSEPH COOPER, in a lengthened speech as the
seconder of the motion, reiterated an opinion very
'imilar to that expressed by the mover.
It was moved as an amendment OR this, by Mr.
SAMUEL 110LME, " That the meeting do adjourn to
3aturday, and that a committee of seven shareholders
1-)a appointed with the directors, to determine as to
the expediency of resuscitating the bank, or to pro-
ceed to an immediate liquidation, and to report the
iame at the next meeting."
The following gentlemen were then named to sit
un the committee :—Mr. Josias Booker, Mr. Gill,
Mr. Thomas Shand, Mr. John Stock, Mr. J. Bibby,
Ms. W. Clare, Mr. W. Imfie ; and it was further de-
termined that Mr. Alderman Thompson be requested
to render his advice and assistance.
Mr. SAMUEL lIOLME, on rising, was received with
much applause. lie did not think that it was either
necessary or desirable to wind up the affairs of the
bank. Their affairs were not in that deplorable con-
dition represented by the worthy Alderman, and he
was decidedly of opinion that it was neither right nor
reasonable to call on the directors at so short a notice
to sanction a proceeding which would injure severely
a great concern like the Royal Bank. He thought
that further inquiry, and time for that inquiry, was
indispensable, and entertaining these views, he moved
the resolution.
Mr. JONES seconded the amendment, in a very ela•
borate speech.
A long discussion took place, but the amendment
was eventually carried by a majority of nine to one.
Another resolution was carried, that thanks be re-
turned to Mr. Alderman Thompson for his important
services, and that the meeting " do sympathise with
the manager, Mr. J. Chaffers, not only on ac-
count of his infirmities, but because of the difficult
position in which recent occurrences had placed him."
It was stated at the meeting that Messrs. Barton,
Edam, and Iligginson owed the bank 523,000/.
It appears that the assents of the depositors to the
proposal made to them by the directors amounted to
368,597/. ; dissents, 29,0001.—the remainder not being
yet ascertained.
The meeting broke up at about half-past one
o'clock.