The Sun.
London, England, 1856-10-07 00:00:00

LONDO'N, TUE,sDAY EVI4.I4NING, OCTOBER 7, 1856.

(N o. 20,064)

PUBLICATIONS.

MRS. TROLLOPE'S NEW NOTEL,
FASI3 I 0 N ABLE LIFE;
or, PARIS and LONDON,
Is now ready at all the libraries, in 3 vols.
The book has among its merits the invaluable one of being
thoroughly readable."—Examiner.
Burst and Blackett, publishers, successors to Henry Colbui a.

This day is published, to crown Svo.,price 5s ,
ADVANCED TEXTBOOK of GEOLOGY,
INDUSTRIAL and DFSCRIPTIVE.
By DAVID PAGE, F.G.S.,
Author of "Introductory Text• Book of Geology."
With Engravings and a Glossary of Terms.
William Blackwood and Sons, Edinburgh and London.

On the 4th of October, No, 1., price 2d.,
rrillE NATIONAL MAGAZINE.
Edited by JOHN SAUNDERS and WESTLAND MARSTON.
Alfred Tennyson. CONTENTS.
Biarritz. Portrait and Paper.

The aTitation, E ngraving from. Sir C. Eastlake, P.R.A.
Wellington's 3lontiment in St. Paul's.
The Stereoscope, By Sir D. Brewster, R.H., F.R.S. No. I.
Uncle George. A Tale. By Wilkie Collins.
The Borne. By a Lady. Illustrated.
Sold by all booksellers, or No. I. will be sent, post free, from the
office, on receipt or two postage stamps. The work ys ill also be sup-
plied regularly in the same way for 3s. 3d. a Quarter in Numbers,
and for 3s. in Parts.
London National Magazine Company (Limited), 25, Essex-street, Strand,

The Third Edition. Just Published, price 55., bypost, free, ss. 6d.
OR TRUE ct FALSE SPERMATORRH(EA,
Sufferers
the View of distinguishing the Imaginary from the Real Sufferers under this disease, and Correcting of wide-spread
Errors in relation to their Treatment and Cure.
Translated from the German of Dr. PICKFORD.
"Dr. Pickford is km rwn to English readers by his frequent practi-
cal contributions to German medical literature. This is the first
time, he informs as, tt.at he has addressed himself_ to the non-medl-
sal reader. We trust this may not be the last, if he shall detect any
other equally flagrant evil which it may be in his power to cor-
rect."—London Medical Gazette. " The tribe of Quiet Sympathisers,'
end 'Medical Friends,' are mercilessly exposed; and if this book
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much money...,..This volume is well qualified to pat an end to the
empirical system of treating Spermatorrhcea, and to place the treat-
ment upon a more rattonal and phydological basis. It is, therefore,
,ike4, to do much good."—Medical Circular.
London: H. Balliere, 219, Regent-street.

Itifr R. HOWARD, Surgeon-Dentist, 52, I.T_l.Fleet-
street, has introduced an entirely new description of ARTI-
FICIAL TEETH Axed without springs, wires, or ligatures. They so
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This method does not require the extraction of roots, or any painful
operation, and will support and preserve teeth that arcs:u3SC, and is
guaranteed to restore articulation and mastic tiu2l.Decayed teeth
rendered sound and useful in mastication.-52, Pleet-stiect. At
hems from ten till five.

ROYAL BRITISH BA &K'.

Last night a meeting of the depositors in the Royal
British Bank was held at St. Martin'e Hell, for the pur-
pose of receiving the report of the committee appointed
on Friday, the sth Sept. ; Mr. J. Wyld in the chair.
The CHAIRMAN said that cireemstances had arisen
since the last meeting which had induced the committee
to think it desirable to call the depositors together to lay
before them a statement of their past traneactions, and
to take their instructions as to their future conduct. He
would now read the report that bad been drawn up by
the committee for the approval of the meeting. The
chairman then read the report, which was as follows :
" The committee appointed to watch over the interests
of the depositors of the Royal British Bank find it desir-
able that they should lay before the body of depositors
the present position of the depositors, and the necessity of
a strong and continued effort for the preservation and resti-
tution of their property. At the last meeting it was re-
ported that an application had been made upon the part of
some of the shareholders to Vice-Chancellor Kindersley for
an order to wind up the affairs of the Royal British Bank,
under the Joint-stock Companies Winding-up Act of 1848
and 1849. The application was made at Bury St. Edmunds
on the 24th of Sept., and an order was made by Vice-
Chancellor Kindersley for the winding-up on all four appli-
cations. Mr. Linde, a solicitor, attended on behalf of the
depositors, and requested that he might be allowed to re-
present them in the proceedings and protect their interests.
The directors of the bank opposed the order for winding
up, and wished the affairs of the bank to be wound up
under a committee of management. In consequence of the
order then obtained, Messrs. Chilton and Burton, of 7,
Chancery-lane, who are the solicitors for Mr. Mee, and
Messrs. Amory, Travers, and Smith, of 25, Moorgate-street,
the solicitors for Lieut.-Gen, Aitchison and others, pro-
posed Mr. Harding, of Lothbury, as the official manager ;
and the judge has nominated Mr. Harding the interim
manager; and advertisements are imbed for the appoint-
ment of the official manager at the chambers of the judge,
3, Stone-buildings, Lincoln's-inn, on Monday next, Oct.
13 ; and the advertisement states that all parties interested
are entitled to attend and offer proposals and objections to
any such appointment. Since the last meeting of deposi-
tors, the chairman and Mr. Taylor, deputed by the com-
mittee, have waited upon Mr. Coleman, who had prepared
the statement of the accounts of the bank, and who, before
the appointment of the interim manager, kindly gave them
every information in his power, and he has stated that he
is assured of an available dividend to the depositors of I2s.
in a short period, and that ho was prepared to carry out
an arrangement for a composition with the crc liters, if
they approve of it. Mr. Coleman has promised to attend
this meeting and to state his views to the depositors.
And on the 2d of October the chairman received the fol-
lowing letter :
" In the matter of the Joint-stock Companisi Winding-up
Acts 1848 and 1849, and of the Royal British Bank.
"`4, Lothbury, London, Oct. 2,185 G.
" Sir,—l shall be glad to see you at your earliest con-
venience relative to the claims of the depositor.) of the
Royal British Bank.
" Will you favour me with an appointment?—l am,
sir, yours most obediently,
" R. P. HARDING, Interim Manager.
" 'James Wyld, Esq., Charing-cross.'
Tho chairman attended the next day, Oct. 3, and saw Mr.
Harding, who then stated that ho had bean appointed the
interim manager by Vice-Chancellor Kindorsley, and that
he intended to conduct the affairs of the Royal British
Bank without reference to the interests of the solicitors;
and as an earnest of his intentions he had issued forms
for the proof of the debt of the depositors, and that, ac-
cording to his powers under the act, he intended himself
to carry the proofs before the judge, and that he would
thereby save the estate the expenses of the attorneys'
charges, which he estimated would, under the former
practice of winding up joint-stock companies, have
amounted to 6,000/. or 7,0001,; that he found the claims
against the bank to be 6,000 in number; that he proposed
to commence taking the proofs of debt at the Strand branch
on Bth October next, and as he estimated that he could not
receive more than 300 claims on each day, it would be the
end of this month before the proofs of the deposit credi-
tors' claims would be completed ; that during the same
time he should be preparing to carry before the Vice Chan-
cellor a list of the contributor., according to the Stamp
office list, but that with all despatch he could not declare
a dividend before the and of the year ; that, with the in-
formation at that time before him, ho could not declare a
dividend of more than ss. in the pound at the end of the
year 1856 ; and that his impression was that the whole
affairs of the bank, under the ordinary course could not be
wound up under two years, but that he was prepared to ob-
tain advances on the securities of the bank, and that, if
the depositors would accept a composition of 15s. in
the pound, he would pay a dividend of ss. in the pound
in the month of December, 1856, and issue promissory
notes under the authority of the Court of Chancery for
the payment of ss. in the pound at the end of six months,
and ss. in the pound at the end of 12 months. Hitherto the
efforts of the committee have been to effect some arrange-
ment for the settlement of the affairs of the bank, and the
speedy repayment of the moneys of the depositors upon a
resaedgtt
leCneaaoebusiuo ttlrdhtfayerdori
neitherovef
tfnfahCrndeohcl
nlyade
shareholders,ni
fbrteoeahercsreitya basis, and
r;isarhemnc
otiht
croaarsttvsbvhheil
neeot
thfheseateohurhymratearhmenbtahghiadtoenetllmidni:eenynrnrt
shareholders
vroafeaepvrtnnoeo tdmsti
imootyinaoasonadunoyyer,f
just and friendly basis, and without the intervention of
t ahhhan
committee are fearful that, acting under the advice of soli-
citors who are looking to make large bills of costs out of the
estate, and desiring, if possible, to avail themselves of lega
technicalities to evade their liabiiity to the depositors,
they aro anxious to throw the winding up of the bank
into the Court of Chancery, and to obtain the nomination
of individuals to conduct the winding-up who may be
friendly to their interests, and who, by delaeing the divi-
sion of the assets and the speedy enforcement of contri-
betious from the shareholders, may protect the interests of
the shareholders, to the sacrifice, if not the total destruc-
tion, of the rights of the deposit creditors. And your
committee would call attention to the fact that the bank
stopped payment on 3d Sept., and every act on the part of
the directors and shareholders has been that of delay, and
that, according to present appearances, no progress will be
made until after the appointment of the official manager,
on the 13th October—a period of five weeks since the
stoppage of the bank. That Mr. Coleman, who from his
high position would have had the confidence of the depo-
sitors, and who had made himself completely acquainted
with the state of the affairs of the Royal British Bank, is
not permitted to become the interim manager, but another
gentleman is appointed, and who up to Friday last had
not received from Mr. Coleman the detailed statement of
the bank affairs, but merely a balance-sheet of the ac-
counts ; whereas Mr. Coleman, who is perfectly acquainted
with the whole matter, could have entered upon the
winding-up immediately, and thereby saved at least a
fortnight's delay—a delay fatally ruinous to some of the
depositors. At the same time the committee cannot, in
justice to Mr. Harding, refrain from stating that they can
have no other objection to his appointment, excepting that
he is the nominee of the interested shareholders, and that
he must necessarily occupy some time in acquainting him-
self with the affairs of the bank. And your committee call
upon the depositors to assist them in their appeal to the
Vice-Chancellor that they shall be duly represented before
the judge, and that they should be fully entitled to, at least,
an equality of representation with the shareholders in all
matters relating to the Royal British Bank ; for they sub-
mit that the winding-up of an ordinary joint-stock-com-
pany differs in all its elements from the proposed winding-
up of the Royal British Bank, not only from the magni-
tude of the transactions to be dealt with, but also from the
different position of the deposit creditors of the bank to the
ordinary trading creditors of ajointstock company. In the
instance of an ordinary joint stock company the creditor
has not entrusted the company with his whole capital, and
has only credited the company with a small amount com-
pared with his property; but as the operation of the bank
was carried on in the districts of Lambeth, the Borough,
Islington, and Virhitechapol, not before subject to banking
iandn are reduced
ey ah to
should
ldruin
be and
fully d u
fuoperations, the deposit creditors of the British Bank, in a
majority of instances, have entrusted the Royal Bank with
tt
thoe
ni
twh he whole
areca po i
ft ao 1
p,io n ae
that t
repre-
sented before the Vice-Chancellor, and before the officialmanager, y ersetpi tre
manager, that they may be enabled to influence
once the speedy
distribution of the assets, and the prompt enforcement of
the contributions required for the payment of tho credi-
tors, because it cannot be doubted that unless the judge
will take more than an ordinary interest in the.
failure, and that the official manager will use
calamitous
use more than
the ordinary exertion in winding-up the estate, the trade
of large districts in the metropolis will bo seriously da-
maged, a large amount of the working classes will be de-
pi-wed of employment, and many industrious persons re-
duced to poverty and want. And the
committee
re f that
unfortunately the interests of the shareholders
adversea
to the interests of the depositors; that the ehareholdere
may seek for delay by litigation and eb,tructieus, vihilst
the depositors seek for the immediate return of the moneys
with which they intrusted the deliuquent coreoretion ;
and it must be recollected that since the establishment of
the bank the shareholders have received largo dividends
upon their shares ; that they possessed the power, if they
had chosen to exercise it, of investigating into the affairs,
of the bank ; that they have failed to do so ; and that the
failure of the bank has arisen from the want of due care
and inquiry upon the part of the shareholders; whereas
the depositors, receiving the statements presented to their
half-yearly meetings, awl sanctioned by the approval of the

shareholders, as true and faithful reports, have tpon these
statements, entrusted the corporation with their property.
If, therefore, there is any preference in the choice of the
individual or individuals to protect the future interests
of the creditors, it should be given to the depositors,
and not to those who have failed in their duties towards
their creditors and themselves. The committee have also
taken an office in the City, 10, Lombard-street, at which a
clerk will attend from ten a.m. to four p.m, to receive
communications and to answer the inquiries of the depo-
sitors. They are also ondeavouring, ae.thev now possess a
list of the depositors, to effect an organisation by which
they can at once communicate with every depositor; and
they are also taking the necessary steps to ascertain the
ability of the shareholdels to pay the claims of the deposi-
tors, and the result of their present information is, that
ample means exist amongst the shareholders for the repay-
ment of all the moneys of the' depositors. Theinterim ma-
nager has issued forms in which he asks the depesitors if
they will accept a composition. It is for them to deter-
mine if they will await the realisation of the funds neces-
sary for their full zepayment ; or, if it be pohsible; that an
arrangement be made by which they will accept a compo-
sition for their debts.
" R. TAYLOR, " A. POLICES,
H. MITCHELL, J. ROBERTS,
G. J. RAIN, H. S. GITTING,
W. WAKLEY, G. E. HEALY,
- IL RICHARDSON, WM. PLOTHIER."
That was the report of the committee, and 4iTozw- moved
its adoption, but before he sat down he wished to offer a
few observations. Most of those present, no doubt, had.
received a letter from the intsuim manager, which they
were required to fill up and' address to him, stating at
the bottom whether they were willing to receive a compo-
sition or required to be paid in cash. Now, before they did
that therewere two questions for themto consider. Upwards
of five weeks had elapsed since the suspension of the bank,
but as yet no action had been taken by the directors for re-
payment of money to the depositors, or to relieve them from
their distresscs. Instead of that they had been entirely
silent, and although they had shown every anxiety, the di-
rectors had evinced no disposition whatever to meet them.
He had received a number of anonymous letters threatening
them that if they did not accept anything that they could
get, that they would get nothing ; but they world learn
that they were not to be intimidated by such documents
from taking the course that they had previously deter-
mined upon. Now, before they accepted a composition,
or before they paid any attention to such intimidations,
let them look to see what the state of the bank was, and
whether they would accept a composition or not. If they
did, out of what element °Light that composition to be
paid ? Mr. Coleman was hero that night, and could answer
for himself. At a meeting of the shareholders of the Royal
British Bank, held he thought on the 20th of Sept., it was
stated that the assets of the bank amounted to 288,6481.
be. lid., and the liabilities amounted to 539,30/., that
288,6481. being exclusive of the Welch coal works. Amongst
the shareholders were many individuals of large property,
who could afford to pay either 501. or 801. upon each share,
and it would be for them to consider before they left that
room to-night whether they would accept a composition or
not. Tho object the committee had in calling them toge-
ther was twofold. First, to ascertain their sentiments in
respect to the appointment of an official manager who
would thoroughly do justice to both parties, to the inte-
rests of the depositors as well as the shareholders. The
ether object was to ascertain if they were disposed to re-
ceive a composition for their debts, and if possible to ob-
tain a standing before Vice-Chancellor Kindersley, when
they should have some one to take charge of their inte-
rests. Whatever course they might take, it would be well
to consider whether two official managers would not do
better than ono, and the Vice-Chancellor had the power of
ordering the second appointment. He concluded by call-
ing upon Mr. Coleman to address the meeting..
Mr. COLKIAN said that he had attended there at the
request of the committee, and he felt it to be a duty as
a public man to accede to the request which had been
made to him. He thought it would be acceptable to the
meeting, from his position with the back, to know his
views of it. He also wished to inform them that at the
time of this catastrophe—for so he must call it—he was
at the Isle of Wight, and unable to attend to his busi-
ness, and those gentlemen who called at his office bad
only seen his chief clerk ; but on hearing of the circum-
stance he can,. to town on the Wednesday, and one.
oieded so far in investigating the affairs of the bank as
to enable him to lay the statement which had been pub-
lished before the meeting on the 25th ult. This was done
without fear either of directors or-shareholders ; for he
considered it to be his duty, as a public man, to lay all
the proofs that bad come to his knowledge before the
meeting. He spent no little time in doing so, well know-
ing that, as a public man, he would be called upon to
verify his statements ; and it was his firm belief that all
the assets he had stated could be realised. He was
strong on that point, for he had made a statement, and
he would be guilty in no fraud in his assertion of what
the depositors ought to have. Ile had gone carefully
through the assets, and Gen. Aitchison had compli-
mented him upon it, and given it as his opinion that, if
the assets were as he had stated, the alTairs of the bank
might be brought to a speedy termination. After a very
long investigation of the affairs of the bask, it was his
advice that the depositors should accede to a composition,
(No, no.) Those were the principles which he had a.lvo-
cated at the general meeting ; those were the principles
he advocated that night. If they did not accept those
terms, and went on to obtain the full amount of their de-
posits, the shareholders would contest their liability ;
and, therefore, he recommended them to get the rebate
into their hands, which they could use in trade, and he
at the same time relieved from ail litiiiaticn. That was
the coarse which he advised them to pursue. He was nut
aftbi•sa
nowlfri
neadt
krhhl
re
aeet untilhchcommittee,
.rcicpproposition
rhpbloaoepeneseinecrt
Chancellor
:yti
complimented
mrwrtealspoKjs
ninhdsadaes
rntirti
anslo
storeehmee:t . had put
pound,
hpl uaead;
tinr
attended
forward
htt
rehewae
ddarierdeddpnbo
oser
so
ybyatthßautryleaSrtn.
eEddjmudugned'oon,
the way in which the accounts of the depositors had been
brought before him, and he would advise the meeting
before they came to any conclusion to reflect on the sug-
gestion which he had made, for the assets did not show
more than 12s in the pound, independently of the liabili-
ties. He urged a compromise beta reen the depositors and
the shareholders, feeling satisfied, that the shareholders
would be but too glad to meet the,ia, for they were now in
Chancery, and could not get out of it without the judge's
sanction. If he was appointed as o flicial manager be would
do all in his power to get as large a dividend as possible.
(Cries of " We will have all or :none.")
A DEPOSITOR wished to kucew if the 70,000/, was in-
cluded in the 288,0001. set down as assets I
Mr. COLEMAN said the account of Mr. Brown was in-
cluded, with many others. He had gone through 800
bonds and valued the whole of th ens, and be believed that
the whole of the assets he had set down ought to be rea-
lised. He had gone through the securities given by Mr.
Brown, and had put a very differ ent value upon the pro-
perty to that placed upon it by a directors.
Another DEPOSITOR wished to know what proportion
of the assets belonged to the dapositors ?
Mr. COLEMAN said the gentlealan had put rather a
legal question than one of fact ; but he would answer it
to the best of his ability, by seating that he thought no
distinction could be drawn between them and those of
shareholders.

Mr. R. TAYLOR said he 'ryas about to move the first
resolution, and he would recommend the meeting to
adopt it • but before he did. so, as one of the comniittee,
he wished to express his o•wn feelings of what be had wit-
nessed in the course of the inquiry, and ho was bound
to say, as a commercial man, that he never met with
anything so completely disgusting as the way in which
the affairs of this bank bad been conducted. He felt that
indignation which every man ought to feel when a wrong
bad been committed upon him, and money had been taken
out of his pocket against; his will, and that by men who
lived as patriots, but who had shown themselves—should
he say it ?—little better than swindlers. (Hear, hear.)
He would speak plainly, but be would not go one hair's
breadth beyond the truth. He would except in his ob-
servations three gentlemen„who had entered the direc-
tion within a few weeks, one of them being a neighbour
of his own, and he felt assured be was not a man who
would do a dishonest aezion. The bank had been
launched into the world by M r. Macgregor, who had
been selected by the citizens of Glasgow to represent
them is Parliament, brit had uo sooner introduced the
British Bank to the public than be made use of his
position to use the briuk funds. just as much as the
honest manager would allow It had been chro-
nicled that Mr. Macaregor was ;a debtor to the extent of
many thousands of. pounds, anti if Mr. Coleman could
be asked the question, he had no doubt he would tell
them that his assets were not w,:xth much. Then there
was Mr. Brown, another membt a. of Parliament, and if
they couid not get it from a member of Parliament,
from whom could they eXpeel. honesty and integrity ?
Surely, then, it, was fitting for th i )m to express their indig.
nation, for ho believed that if M r. Brew n bad not been a
member of Parliament ho cool, never have been able
to get 70,0001. out of their bar: It hacl been said that
tOr the sum. Nix. Brown had to 'ten he Lad given securi-
ties ; but they were only pereo ;nal aeosptances. When
they found a number of indiviri uals thus plundernd, the
meeting had a right to _know what had been learnt by
the committee in the progre is of their investigation.
There were two gentlemen in ' the direction who were at
the present time debtors to tilt 3 bank, and he hoped they
would bo able to pay 20s. it , the pound. (A. Voice.—
Where's Cameron Ho (Mr s, Taylor) had got his name
down, and he would say a word about Wm. He was
the greatest delinquent, for he had alliwed wrong to bel

done because in the first instance he had done wrong
himself. Ho believed that Cameron began to put his
hand into the till of the bank as scion as the depositors
began to put money into it. He would ask if the direc-
tors ought not to have had their suspicions aroused when
they found him living in a large house near Kensington-
gardens, and rolling into town in his carriage to perform
his duties at the bank. Such a state of things ought to
have excited the suspicions of the directors ; and firmly
did he (Mr. Taylor) believe that the three names he had
mentioned would never have their deserts until they saw
e'en) at the bar of a criminal court. (Tremendous cheer-
ing.) He was aware that that assertion would go forth
to the world, and by that time to-morrow the intelligent
people of Glasgow might be reading what ha hail said of
a man they knew something about. He might mention
one case that had come under his knowledge, as a jus-
tification of what he had said of him, where a poor man
bad invested 201. to make up 401. on the morning the
bank suspended payment. The man was ruined, and
at the present moment he had his wife lying a corpse,
with an execution in his house, and therefore if he
(Mr. Taylor) was correct in what he was saying, that
man to whom he alluded ought to be brought to
the bar of tho Central Criminal Court. In the
course of their proceedings they must mini; furget the
fact that many of the shareholders bad placed con-
fidence in great names—many of whom were widows,
who believed that a safe investment might be
made under those great names, but who bad been
suddenly thrown into the lap of poverty when they be.
lieved that they were in a state of comfort. In their
future proceedings, as far as those shareholders were
concerned, they should temper mercy with justice.
After a few other observations, Mr. Taylor concluded
by moving the following resolution :—" That it is the
opinion of this meeting that the interests of both the
depositors and shareholders will be best consulted by the
appointment of Mr. Coleman as official manager, and
this meeting pledges itself to support Mr. Coleman, by
signing the forms recommending his appointment, by
application to the Vice-Chancellor, and by the adoption
of such other means as may be deemed most expedient."
Mr. G. J. KAIN seconded the resolution, and said he
could not see the reason why Mr. Harding should be !
substituted for Mr. Coleman, who was a matt of great
energy and ability.
Mr. GODDARD advised the meeting to accept a com-
promise ; for if they sold up all the shareholders there
was no chance of their getting 20s. in the pound. It was
for their interest to take what they could get rather
than sell them up and drive them from their country,
and after all they would not get 108. in the pound.
A DEPOSITOR did not believe that the money that was
taken out of the bank was the cause of its failure ; and
he was opposed to any such assertion going forth to
the world. He believed the cause was the false princi-
ple of paying interest. (No. no.)
Mr. MAXWELL, as the representative cf a large amount,
asked periuissioa to be heard, and :.tale bcfore be came
to that meeting he had offered a solicitor 2001. net of his
own pocket if he would undertake to arraign at the Old
Bailey the whole of the directors. (Great applause.)
That was not the time for mealy•mouthedness, for he
must say that they had been grossly swindled, and it
was their duty to punish the swindler. He had been
asked to agree to a compromise, but he, for one, would
hear of no compromise that did not give them quid pro
quo. (Loud cheers.) He concluded by moving, as an
amendment, that Mr. Charteris be elected as officia

manager.
The motion having been seconded,
Mr. CHARTERIS addressed the meeting on their pros-
pects, and said that if he was appointed official manager
he could obtain them 15s. in the pound.
The CHAIRMAN then put the question, and declared
the original motion to be carried.
Mr. MITCHELL moved the next resolution—" That
this meeting will use its best endeavours to appear be-
fore the Vice-Chancellor (through its committee) to re-
present, watch over, and protect the interests of the
depositors." He said there was .no doubt that the
desire of the shareholders was delay, and to drive the
affairs into the Court of Chancery. He for one would
not accept a compromise, unless it was a very large one.
It was the intention of the committee to open an office,
to which all parties could come far information, and so
get up an organisation that would get the interests of
the shareholders properly represented before the Vice-
Chancellor, and the affairs of the bank speedily wound
up.

-Dr. WAILLEY seconded the resolution.
Dr. MAXWELL moved as an amendment that Mr.
Obarteris be allowed to act in conjunction with Mr.
Coleman.
The CHAIRMAN put the question, and the original
motion was carried by a large majority.
Mr. ALLOM then moved, " That in the event of the
Vice-Chancellor appointing Mr. ttarding official man-
ager, the committee be empowered to apply to have Mr.
Coleman appointed to act with him."
Mr. SYMONDS seconded the resolution, which was put
and agreed to.
Mr. FRANCIS then moved, "That the committee be
empowered to entertain any proposal fir a reasonable
compromise."
Mr. MORRISON seconded the motion.
Mr. RICHARDSON urged the acceptance of a compro-
mise of 15s. in the pound.
The resolution was then put and carried unanimously.
A vote of thanks having been passed to the chairman,
the meeting was dissolved.

METROPOLITAN BOARD OF WORKS.

A. special meeting of the Metropolitan Board of Work's
was held yesterday in No. 1 C ommittee-room, Guildhall,
for the purpose of considering the report of the engineer
of the board on the whole question of the northern and
southern drainage, with comparative estimates of diffe-
rent points of outfall, and modes of disposing of the sew-
oge. Mr. J. Thwaites in the chair.
In consequence of s previous determination that the
outfall should be at Barking Creek, a notice for the re-
scinding of that resolution was given at the last court,
and the first subject on the paper was the consideration
of that question.

Mr. *RIGHT, in pursuance of that notice, rnove4
" That the resolution of the board of the 17th Juno,
1856, adopting the report of the engineer far :19 t re•
!mos to the extension to Barking. Creck, and also the re•
solution of the board of Aug. 12, 1856, negativing the
following amendment, viz., 'That the discharge ot the
main outfall sewer on the southern side of the Thames be
made at a point in the River Thames on the Surrey side,
woetward of Erith,' be revoked, with a view ta the con-
sideration of all, and theadoption of either of the several
systems of drainage set forth in the engineer's report of
Sept. 25, 1856."

Mr. Flows seconded the motion, and regretted that
on a former occasion they had been tied up from the
consideration of the whole question through regulations
made by themselves.
Mr. DIPPANGER supported the motion, which was
put and carried.
The resolution was then rescinded.
Mr. CARPMAEL, who had the following notice of mo-
tion on the paper, "That the engineer's report be adopted
so far as it relates to the outfall at B on the plan," said
he regretted to find that many members of the board
were still in favour of what ,he must call a most mon-
strous scheme in their desire to carry the sewage of the
metropolis to Sea Reach. He contended that it was a
monstrous scheme, for one part of the sewer would con-
tain 16,000,000 cubic feet of sewage ; and if they added
the branch from Greenwich they would have an aver-
age discharge of nearly 20,000,000 cubic feet of sewage
which they proposed to carry to the sea. He did not
consider that he could better describe such a scheme
than by adopting a description that had already been
given to it by Mr. Leslie, for it would become one vast
and elongated cesspool from London to the sea. It
might be considered by some persons very desirable to
erect a tower which should reach to the skies, while an-
other would wish to penetrate to the antipodes, so that
the names of the projectors of such scheme should be
handed down to posterity ; but it would be for the board
to say if they were prepared to cast the burden of such
cost upon the ratepayers. He doubted as to the possi-
bility of doing t ; bus, as to the piropriety of doing so he
believed that every engineer, their own included, would
set his face against it ; and therefore he at once die-
missed No. 4 scheme as one that the board could not for
a moment entertain. If some members contended that
under no circumstances should they discharge the sew-
age into the Thames, neither of the schemes at present
before the board would get them out of the difficulty,
and, such being so, he knew of no plan for an outfall
that was so nuobjectionable, and so far removed from
human habitations, as that proposed between Erith and
Woolwich. He should have wished that an immediate
answer had been returned to Sir Beejamin Hall, point-
ing out to him the desirability of carrying out the works
at the point proposed, although it might be opposed to
a technical difficulty in the act of parliament. If his
proposition was carried, he should propose theta deputa-
tion should wait upon the Board of Works, to point out
the reason why they were called upon to spend upwards
of two millions of money for carrying the sewage be
yond the place they considered necessary, and that
if they did so it would be merely for the purpose of
complying with a technical difficulty in the act of pfirlia-
ment. But fur the interference and veto of the govern-
ment they should have made progress in their works,
and he doubted not but for the letter of Sir B. Hail
they should have had a number of contracts ei.tered
into for carrying out the works they originally proposed.
He concluded by tr.:eying the adoption of the englucr's
report, so far as it relates to the outfall at B on the plan.
Mr. SEELEY seconded the motion with great pTeasure
as a lay member of the board, for he looked at the ques-
tion in a popular and not on a superficial groyn-1 Fie
-
had lately looked at all the plate, and he thcr?glit it was
the duty of thou board not to spend 140,000/. unless it
was considered to be absolutely necusetzy, fur they
ought to take care of the interests of the ratepa}crs, and
be opposed to the trial of experiments which might pos-
sibly fail. He Should be extremely sorry to See the
board stuck fast, and was opposed to their passing the
sewage under the Thames. That was a risk whlch Le
would rather not incur, unless they had an assurance
of 50 to 1 against a failure, when he perhaps might
make uplhis mind to it: As it was, however, he saw be-
fore them a cheaper and a better plan, and be preferred
one in which no such risk was incurred. There was
another question and it certainly did not to him appear