The Sun.
London, England, 1869-01-23 00:00:00

0 VEREND, GURNEY, AND COMPANY.

This case was resumed this morning.
Mr. Edwards, the official assignee of the Court of Bank-
ruptcy, was recalled, and he stated that during the year
1864 he did not do any business for the firm of Overend,
Gurney, and Co., but he believed the Atlantic Royal Mail
Company was working in that year ; but it came into
liquidation in July, 1864.
The written agreement entered into by the witness
with the firm was then put in. It was to the effect that
the partners in the old firm agreed to pay him £5,000 a
year for five years in consideration of doing all the ser-
vices that might be required of him in connection with
the business of the company and its accounts.
The Lord Mayor—And under that agreement the wit-
ness was paid £lO,OOO for two years services that had
been performed, and .£lO,OOO for two years in advance.
By Mr. Lewis—'Phis agreement was only signed by Mr.
David Ward Chapman, but all the other directors acted
upon it. He was principally consulted by Mr. Johu Henry
Gurney i❑ reference to the Millwall works, but he could
not state what was the subject of the consultations. He
should say that they related to advances, but he only spoke
from an idea, and not from recollection.
Sergeant Ballantine said he hoped his lordship would
take notice of this statement by the witness, that he only
spoke from an idea. (A laugh.)
The witness went on to state that he commenced act-
ing for the firm in 1862. He could not recollect what
particular business he did for the firm in 1863. He re-
membered acting as umpire on a business matter in 1863,
but he could not say whether Messrs. Overend, Gurney,
and Co. were interested in the matter.
Mr. Lewis—You were receiving £5,000 a year from the
firm, and these are matters of very great importance ; do
pray be frank with us, Mr. Edwards.
Witness—l wish to be so. (He then said that Messrs.
Overend, Gurney, and Co. were no doubt interested in the
result of the arbitration ; but he did not recollect whether
he made any affidavit in the matter.)
Sir T. Gabriel said it was extremely unfortunate that he
could not recollect anything. (Laughter.)
The witness said he had a very bad memory. (Renewed
laughter.)
Sir T. Gabriel—Well, but surely you can remember
these important matters.
Mr. Lewis—Can you tell us what you did in 1863 and
1864?

Witness—l cannot remember. I have no recollection

upon the subject. I cannot s:ty whether it was so early
as the year 1861 that 1 acted as umpire in this matter. It
was not so late as 1866.

Sir T. Gabriel—You cau surely recollect something
more upon these important matters? Do tell us the truth,
Mr. Edwards.

Examination continued—He was aware that the At-
lantic Mail Company owed Overeud, Gurney, and Co.
£BOO,OOO, but he did not remember having any conversa-
tions with the defendants upon the subject. (Laughter.)

The Lord Mayor—Why, you were a director of the At-
lantic Royal Mail Company, and you say you were watch-
ing the affairs of the company, and were aware they owed
£BOO,OOO, and do you mean to say that you did not have
any communication with the defendants upon the subject ?
Witness —He knew that Mr. Birkbeck accused him in
rarher coarse terms of having been the cause of a certain
loss. He was paid £2,000 commission for negociating the
sale of two ships from Overend, Gurney, and Co. to him.
He acted as the agent for Overend, Gurney, and Co., and
was paid £2,000 commission. (Laughter.)
Sergeant Ballantine —And at this time he was receiving
£5,000 a year from Overend, Gurney, and Co., for giving
them good advice.
The witness, in answer to questions put by Sir T.
Gabriel, said that although the £20,000 nominally stood
in the books to his credit, to be withdrawn at four-
teen days' notice, there was an "understanding"
that he should not withdraw the money for a certain
time. He said he could not recollect the exact terms of
this " understanding." (A laugh.) He was to be paid six
per cent. interest by the old firm, but the limited company
would not pay him higher interest than the bank rate of
four and a half per cent. The old firm agreed to pay him
the additional amount to make up six per cent. •
At the rising of the Court the case was again adjourned