The Sun.
London, England, 1856-09-06 00:00:00

LAW INTELLIGENCE.—(This Day.)

COURT OF BANKRUPTCY.
(Before Mr. Commissioner Fane.)
IN RE THE ROYAL BRITISH BANK.

Mr. Chidley, the solicitor to the petitioning creditor,
now applied to open that petition, and proceed to adju-
dication in the usual form, the case having been balloted
to Mr. Commissioner Holroyd.

His Honour suggested that the case should be ad-
journed until Monday next, and heard before Mr. Hol-
royd ; but Mr. Chidley was instructed to press his
application. His Honour said that, in that case, he
would hear the application in a private room. Mr.
Chidley, as the solicitor to the petitioning creditor, was
entitled to have the meeting, but the proceedings were
private up to the choice of assignees.
Several gentlemen representing shareholders expressed
a desire to be present.

His Honour said that perhaps Mr. Chidley would
not object.

Mr. Chidley said that at present he could not cor sent.

His Honour said that any application to be allowed
to be present must be made to him, in the private room,
when he would decide.

The parties then retired.

In the event of the adjudication taking place, of which
there can be little doubt, Mr. Johnstone, the messenger
of the curt, wilt immediately place his assistants in
possession at all the different places of business.

TEE DESTRUCTION OF THE SOUTH
TAMAR MINES.

The unfortunate destruction of the South Tamar
Mines by the breaking in of the River Tamar, has
been the engrossing subject of conversation in
mining circles, and although it has been resolved
to obtain the advice of an engineer as to the prat•
ticability of stopping the hole in the bed of the
river, the general opinion is that the mine is irre-
deemably destroyed, and the realisation of the
assets the most desirable movement on the part of
the shareholders. A few months since, the silver-
lead ores discovered and laid open in the mine were
valued at 80,0001., the greater part of which is
consequently lost. At the time the water broke in,
120 tons were lying broken undergronnd, and
ready to be brought to surface. On examining
the accounts, it would appear that after paying the
last month's cost the cash and ore bills in hand will
leave 2,0001. to the credit of the shareholders, ex-
clusive of ores and halvans at surface, and the
machinery, which consists of five steam-engines
on East Tamar, timber, erections, Jac., the whole
of which cannot have cost the shareholders less
than 20,0001., but which is not likely to realise
half that amount, the pitwork being entirely lost.
The South Tamar Mine formed part of the old
Beeralston, worked in the time of Queen Anne,
and yielding very large quantities of silver.
Of late years, the richest workings have been
under the river. The present company was
formed eight or nine years ago, in 9,000
shares, at 9s. each, and the calls afterwards were
17s. 6d. per share, making 11. 6s. 6d. per share
paid up by the shareholders, or less than 10,0001.,
whilst the mine at one period stood at a market
value of 101. per share. or 90,0001. The outlay
for machinery, plant, do., and for opening out the
mine in a proper manner has been very great in-
deed, and all paid out of the produce of the mine
(with the exception of the small sum paid up by
the shareholders, as before mentioned), and
31,9591. have been divided as profit amongst the
adventurers, the first dividend, of 4,500/., having
been paid in 1852 ; in 1853, 6,7501. ; 1854, 10,125/. ;
in 11855, 6,075/. ; and in the early part of the pre-
sent year 4,5001. The ores of the mine were rich
for silver.—Mining Journal.