The Sun.
London, England, 1856-09-11 00:00:00

TO THE EDITOR OE THE SUN.

Sig,—We feel it incumbent upon us, as two of the
members of the first or City committee of depositors,
appointed in the bank, and as the gentlemen introducing
to the public meeting held at St. Martin's-hall last Friday
the gaiggestion or proposition of paying the creditors of
suctrrbank by dividends of ss. in the pound each, at
stated periods, to at once apprise the depositors and
customers generally that such proposition the directors
now repudiate and decline to carry out, sheltering them-
selves under the quibble, that,-1. The proposition was
only a suggestion. 2. The suggestion was made to
them by the depositors; and 3. Although adopted by
them, was only adopted provided every depositor agreed
to it; and that now they do not see any reasonable
hope beyond the Court of Chancery. Why these very
careful, plain•dealing, straightforward, matter of fact,
honest gentlemen should have so suddenly ceased to
hope of a settlement without the intervention of the law
is a mystery which will require the most rigid scrutiny
and investigation, as it is a singular and grave fact that
on the Friday, when this committee was sitting nearly
the entire day with a view to a proposition, the anxiety
and desire evinced by the directors was to pay all claims
amicably and speedily ; while now, en the contrary,
they tell us, with that graceful coolness which sets so
easily if not becomingly upon them, we bad better induce
our friends to come in and prove under the Winding.up
Act. However, the consideration of this conduct we
leave to their creditors at the next meeting. All we
crave your indulgence for are the following facts :
"1. It was suggested on Thursday last that six months'
time should be given, provided they felt that would re-
l'eve them, and enable them to carry out their plans. A
document to that effect was drawn up in the secretary's
(Mr. Paddison's) room, and the directors considered and
approved the same ; it being at the same time submitted
to numerous shareholders in the bank, who entirely con•
curred, and expressed their willingness to pay up upon
their shares in furtherance of it, when called upon to do
so. The depositors then at the doors were invited to step
in, and it was submitted to them, but they declined enter-
ing upon it then, appointing a committee of five to act in
concert with the directors and to watch the affairs of the
bank.

2. The committee sat on Friday at the bank, and bay-
ing had notice that a large meeting had been convened for
that evening at. St. Martin's-hall, were desirous to go to
such meeting with something in their hands ; and in
order t.o be enabled to do so, applied by letter to the di-
rectors and shareholders, then in meeting assembled in
an adj )ining room, ur;ing upon them the advisability of
making some tangible proposition, upon which Mr. Sheri-
dan was invited to attend the shareholders and directors ;
a statement of assets and liabilities was then handed to
him in confidence, and he was requested to attend on be.
half of the shareholders and directors at the meeting to be
held that night, and make the best terms he could. The
committee, however, not being satisfied with this vague
authority, requested Mr. Sheridan and Mr. Richardson
to wait again upon the directors for something more defi-
nite, which they did, and were met by several of the
directors ; who, after a lengthy discussion, agreed to
their submitting to the meeting to be held that night the
following terms, as a basis to work upon—viz., 51. in the
pound in otne month, ss. in the pound in three months,
ss. in the pound in six months, and 54. in the pound in
nine months, and which were the grounds upon which
the sug;estion was submitted to the meeting ; such be-
inz now entirely abandoned by the directors, and the
prospect of the Court of Chancery held out in lieu thereof.
—We have the honour to remain, sir, yours, &c.,
JOHN SHERIDAN, 4. Chatham-place, Blackfriars.
W. RICHARDSON, Union-ct., Old Broad-st., City.

His Excellency the Turkish Ambassador had an in-
terview with Viscount Palmerston yesterday. The
French Charge d'Affaires had also an interview with the
noble visclunt, at his official residence in Downing-
street.

His Royal Highness the Duke of Cambridge, attended
by CJlonel the Hon. James Macdonald, arrived at his
residence in St. Jarneb's Palace on Tuesday night from
visiting her Majesty at Balmoral and the Duke and
Duchess of Richmond at Gordon Castle. His Royal
Highness attended at the Horse Guards yesterday
morning.

The Duchess (Emily) of Beaufort and Lady Edith
Somerset have arrived in town from visiting the Earl
and Countess of Westruoiland at Apthorpe, and the
Earl and Counters Howe at Gopsall Hall.
The Duke and Duchess of Beaufort have Arrived at
Badminton from visiting the Earl and Countess Howe
at Gopsall Hall.
The Marquis of Donegal has taken for a term the
mansion r-cently occupied by the Duke of Beaufort in
Groler.or-square.
The Earl of /vla!me3bury, at the close of hie visit to
the Earl of Lonsdale at Lowther Castle, proceeded to
join the circle visiting Lord and Lady Olivia Om!sten
at Chillingham Castle, Northumberland.
The Earl and Lady Constance Grosvenor shortly
leave Loch Stack, his lordships shooting quarters in the
HiAlaudg, to visit the Duke and Duchess of Sutherland
at Dunrobin Castle.
The Earl and Countess Delawarr have left Buckhurst
Park for the Lord Warden Hotel, Dover.
Lord Raglan has gone on a visit to the Earl Beau.
champ, at Madresfield Court, Worcestershire. The
nuptials of his lordship and Lady Georgiana Lygon
be solemnised early in November. The Dowager Lady
Raglan and the Hun. Misses Someract Have left Ems for
Frankfort.

Lady DJvor and the Iron. Leopold Ellis have arrived
at Gowran Castle, KiikeLny, from London, after pay-
ing a visit to ilia Excellency the Earl of Carlisle en route.
Her ladyship, will shortly visit the Duke of DeNoashire,
at Lismore

Lord and Lady Lovaine are making a tour of visits in
Scotland.

Lady Peel has art ived at Vichy, from a tour in Italy,
and is expected to return to England early in the east'.
ing month._

-Colonel Lake, C. 8., is about to be brought into the
Royal army with the rank of Lieutenant• Colonel Unat•
tubed,

7s. 4d.