The Sun.
London, England, 1860-11-02 00:00:00

mE SUN, LONDON, FRIDAY EVENING, NOVEMBER 2, 1860.

SPORTING INTELLIGENCE.

LITSRPOOL CUP.
7tc 1 agst Summerside (taken)
10 to 1 aget Killigrew (taken)
12 to 1 agst Light (taken)
16 to 1 agst Petra (taken)
20 to 1 aget Ariadne (taken)
20 to 1 agst Confectioner (taken)
25 to 1 agst Dreadnought (taken)
30 to 1 agst Joskin. (taken)
30 to 1 agst South Australian (taken)
40 to 1 agst Edmund Kean (taken)

THURSDAY.

BETTING ON THE COURSE.
LIVERPOOL OUP.
Bto 1 agst Summerside (taken)
10 to 1 agst Chere Amie (taken freely)
25 to 1 agst Joakin (taken)

THIS DAY'S MARRBTS.

CORN EXCHANGE.

Both beans and peas commanded extreme rates..
The flour trade was inactive, on former terms.

14} 16

25 28
5 A
30 32
35 37
18 20
13 15
111 115

25 26
28 30
99 101
104 ICB
97 99
14
21 21
I
1 (11
1 11
1t 2

2 4
a 1 d
3 2d'
1

II ::
1

t 7 50
76 78
134 14i
17* 17p
17 19
5 8
47 49
125 128
334 344
6 t
5474.
$ 10

41 8;

31 1

BETTING AT MANCHESTER—YBsTBRDA.T.

There was a moderate attendance at the rooms to-day,
but the business transacted was of a limited character, the
only horses in demand for the Liverpool Cup being Sum-
merside and Light, and the investments upon them were in
small sums. Closing prices :

LIVERPOOL OUP.
9to 1 agst Summerside (taken)
12 to 1 agst Heiress (taken)
14 to 1 agst Light (taken)
14 to 1 agst Killigrew (taken)
16 to 1 agst Industrious (taken)
16 to 1 agst Herne (taken)
30 to 1 agst Highwayman (taken and offered)
30 to 1 agst Syringe (taken)
30 to 1 agst South Australian (taken)
30 to 1 agst Gibraltar (taken)
50 to 1 agst Napoleon (offered)

LONDON MID-DAY BETTING-YESTERDAY.

UPTON-UPON. SEVERN STEEPLECHASES.

The Upton Plate (handicap) of 50 nova. Two miles.
Mr. Barling's The Curate, aged, lOst 81b .... (Eatwell) 1
Mr. Thomas's Doubtful, aged, 9st 101 b .. (0 wner) 2
Mr. Lewis's Alfred the Great, Bst 21b ...(oliver) 3
The following also ran :—Tattler, Castaway, Penarth,
and The Emperor.

Betting—Even on Curate, 3 to 1 agst Doubtful, 4 to 1
agst Penarth, and sto 1 agst any other. Wox by half a
length, and a length separated the second and third.

The Severn Bank Steeplechase (handicap) of 10 sove each,
h ft, and 3 only if declared, with 100 added. Four miles.
Mr. Golby's Jerusalem, 10st slb (Stevens) 1
Lord Coventry's Athlete, lOst 7lb (Goodman) 2
Mr. Land's Heads or Tails, lOst 131 b (Land) 3

The following also ran :—Premier, Abd-el-Bader, and
Dodger.
Betting-7 to 4 aget Jerusalem; sto 2 agst Athlete, and
4to 1 each agat Heads or Tails and Abd-el-Bader. Won
by eight lengths, and Heads or Tails walked in. A.bd-
el-Kader fell, and was destroyed on the course.
The Worcestershire Cup of 100 soya, by subscription of
10 soya each, hft ; llst 71b each. Three miles.

Mr. Cartwright's The Monmouthshire, aged (Mr. Bevill) 1
Mr. Garden's Liberator
Mr. Burden's Aunt Sally, aged • . (Walker) 3
Prince Charming and Resurgam also ran
Betting—Even on Liberator, 6 to 2 agst The Monmouth-
shire, 3 to 1 agst Prince Charming, and 5 to 1 agst any
other.—Won by a length.
The Farmers' Steeple Chase. Two miles.

Fairy
Unprotected Female (Mr. Thomas) 2

The following also ran :—Cal wick, Elawick, Archbishop,
and Handy.

Betting-5 to 4 agst Unprotected Female, 2to 1 ages
Fairy, and 5 to 1 apt any other.—Won by a length and
a half.

LIVERPOOL CUP.-FIVE HUNDRED POUNDS.--•
Youatt Wm. Gray's selection for the above event will win
by a distance if required, The horse won the trial easier
than Weatherbouni, his selection for the Cambridgeshire.
25 to 1 can be obtained, and £5OO can be won with a little
outlay. Terms to the end of season, ss. ; one week, 2s. 6d.
Subscribers are requested to send per centage on Weather-
bound, and Heiress for a place. Those omitting to do so
will not receive advice for Liverpool. Address-15, Char-
ing-cross, London.

Fresh up to-day a few runs of English wheat came to
hand in somewhat improved condition. Good dry samples
were taken off at Monday's currency, but all other kinds
hung on hand at barely late rates.

Nearly 16,000 quarters of wheat have come to hand from
abroad. Most kinds were in moderate request, but, com-
pared with last week, no change took place in the quota-
tions. Floating cargoes were dull, but xot cheaper.
We have to report a steady sale for all kinds of barley,
at very full prices.

The malt trade was tolerably Arm. In prices, however,
no change took place.

There was a good consumptive demand for oats, at fully
he late improvement in value.

♦RRIVALS TILTS WEEK.
Rhea. Barley. Malt Oats. Flour.
1,510 ' 1,270 1,190 10 ; 1,650
Irish
15,650 5,010 14,350 j 1,710 sacks
5,710 brle.

lxr RRIAL WRZIELT ATERAGMS. Wheat, 59.11 d ;
barley, 40s 9d ; oats, 24s 8d ; rye, 36s 8d ; beans, 49s
M ; and peas, 41s 10d.
Tun Sin ATBRAGIS. Wheat, 59s 2d ;
barley, as 9d ; oats, 24s 8d ; rye, 37s Ed ; beans, 49e 9d ;
peas, 40s 6d.
ENGLISH GRAIN SOLD LAST WEEK.—Wheat, 87,886;
barley, 35,482; eats, 12,071; rye, 369; beans, 2,054 ; peas,
957 quarters.

MEETING OF TILE CREDITORS OF
DA VIES AND CO., BANKERS, SHOREDITCH.

Yesterday a very numerously-attended and some-
what stormy meeting of the depositors in this bank
was held at the London Tavern, over which Mr.
Jeremiah Long, chairman of the committee of
shareholders appointed on the previous occasion,
was requested to preside.
The CHAIRMAN observed that they were very
well aware of 'the painful nature of the business
which had been the cause of their being called
together. They were the unfortunate creditors of
Messrs. Davies and Co. A meeting had been called
for Monday last, but that meeting had not taken
place, and a fiat in bankruptcy had been issued.
Seeing that the meeting in question had not been
held, a number of shareholders who did assemble
on that occasion were formed into a committee, and
that committee determined to convene a meeting of
the

entire body of the creditors, with the view of
consulting them as to what steps it would be most
advisable for them to take for the protection of
their interests. They wished in whatever they did
to exhibit the kindest feelings towards Davies and
Co., although they could not but feel that the firm
had by no means done all that they might have
done, and that might have been expected of them,
for their creditors. They were desirous of meeting
them in a friendly spirit, but they wanted to have
justice done them. They all thought that they had
not bees treated fairly, and although he was not of
that opinion, there were some who thought they
had not been treated honestly. The case was a
very serious one. Some had deposited all they
had, and one man had been already so affelted by
his losses that he had lost his reason, and was now
an inmate of a lunatic asylum. The committee
thought that the creditors ought to take the matter
into their own hands, and had therefore called them
together to ask them what they would do, always
leaning, as he hoped they would lean, to the side
of neighbourly and friendly feeling towards Davies
and Co. (Hear.)
Mr. EDWARDS proposed, and Mr. F. SEARLE
seconded a resolution declaring that the creditors
would take the matter into their own hands.
Mr. CHAMBERLAIN supported the motion. He
was a member of the committee, he said, and repre-
sented a lady who had deposited with Davies and
Co. all she had. He argued that Messrs. Davies and
Co. ought to have struggled to the last, and that
they ought to have made as complete a statement
as they could, so as to have done all in their power
to relieve the anxieties of the creditors. If there
was ever a case of bankruptcy which ought to be
thoroughly investigated it was a case like this,
where there was so large a number of poor deposi-
tors. (Hear.) They were told that bankruptcy was
inevitable, owing to the peculiar position of Messrs
Davies and Co.'s assets, but he was inclined to think
that the bankruptcy was Messrs. Davies and Co.'s
own act—that they had in effect made themselves
bankrupts—and that they and the Messrs. Hill, the
petitioning creditors, were acting together. With
such extraordinary facilities as London presented
for calling creditors together, it did strike him as
an odd thing that the bankruptcy should follow so
close upon the stoppage of the bank—(hear, hear)—
and before the creditors had had an opportunity of
being called together to express their opinion.
Close on the announcement of this fact, it was also
stated that the London and County Bank was going
to do something good for them—(hear, hear, and a
laugh)—but what they proposed was, after all, only
discount the prospect of a dividend, taking secu-
rity from every party to whom any advance was
made. He did not know what the bank.produced—
(A voice—X 5,000 a-year)—but he thought that
they, as creditors, were entitled not merely to all
the property of Davies and Co., but also to what the
goodwill of the bank would fetch. (Cries of" Hear,
hear,"and " No, no.") The speaker contended further ,
on this point, but was assailed with a variety of in-
terruptions, and cries of " The goodwill of a bank-
rupt is worth nothing." He con tended that the good-
will of Davies and Co, had a value, even now, and
he expressed a hope, which elicited much laughter,
that if the London and County Bank opened a
branch there, and made use of the connections and
advantages placed at their disposal by the bankruptcy
they would be prepared to hand over to thecreditors
a good round sum in exchange for such benefits.
They had heard, in many cases, of good round sums
being given to private bankers on retiring, by the
joint stock concerns which succeeded them, and he
thought that Messrs. Davies and Co. ought to have
made some such arrangement in the present case.
(Hear, hear.) If there should be any course which
would save them from going through the Bank-
ruptcy Court, by all means let them do all they
could to get it adopted, and he would-not vote for
the appointment of any man as assignee who was
not pledged to the adoption of that course. (Hear.)
He should therefore support the resolution.
Mr. WILKINSON, on the part of the London and
County Bank, explained the course they had taken
in the matter. No duubt if Mr. Davies had made
the offer, while he remained able to pay 20s. in the
pound, the goodwill of his bank would have been
worth something ; but the moment the bank became
insolvent, the goodwill was entirely valueless.
(Hear, hear.) On Friday morning they had been
asked to assist at the bank, and in fact to carry it
on. But a statement of the affairs of the bank was
laid before them showing a debt due from Messrs.
Evans Brothers, to the extent of £53,000. (A Voice
—What ! £53,000 to speculative builders ?)—(Cries
of " Hear' hear," and " Shame.") Such being the
case the London and County Bank naturally de-
clined to make advances without a chance of repay-
ment—the bank accordingly stopped payment in
the evening. Messrs. Davies and Co. begged the
London and County Bank to do the best it could for
the creditors, many of whom were represented as
being very likely to suffer on the Saturday and Mon-
day. It was then, looking at the assets of Messrs.
Davies and Co., that the London and County Bank
felt justified in offering the creditors 7s. in the
pound. (Hear, hear.) Of course if a creditor wanted
£5OO, and was able to repay it, he could have it in
the usual way. Many, however, took their 7s. with-
out asking for advances, and in fact without opening
an account, at all. (Hear, hear.) Such was the
offer they made, and those whom it suited accepted
it, while any who disapproved of it declined. It
was a mere question for every one to consider and
determine for himself whether it was worth his
while to accept such an offer; and, under all the
circumstances, the London and County Bank did
not feel justified in offering any more. The first in-
timation he had of the failure was on the Friday
morning, when Mr. Troughton was sanguine of
the bank being able to hold its ground. In reply
to Mr. Fowler he stated that those who had ac-
cepted the Is. had not thereby done away with their
right to vote for assignees.
The Rev. TIMOTHY GIBsoN, of Bethnal-green,
said that the advance of .£53,000 to Messrs. Evans
Brothers without any adequate security, was a
striking and an unsatisfactory feature of this case
—(hear)—especially as the failure of the bank was
attributed to such advances. (Hear.) He had been
told that if the property in question had been taken
into the market at the moment it would have rea-
lised £35,000, so that the loss to the bank would
have been £lB,OOO. On this £lB,OOO, then, the
bank, according to their own showing, have stopped
payment. (Hear.) He felt a deep and painful inte-
rest in this matter, seeing that he had, as trustee,
deposited £4OO of poor people's money in this bank,
and these poor people were expecting to receive
that money in the middle of December to enable
them to purchase articles of clothing and other
necessaries for themselves and families. He did
not know, in fact, that he might not have his very
bed taken from under him as a consequence of this
failure. (Hear, hear.)
Mr. TANQUERAY, on behalf of Mr. Hill, the peti-

tioning creditor, declared that that gentleman was
no relation or connexion of Mr. Davies, and that lee
know nothing whatever of the state of the bank
till past four o'clock on Friday. afternoon. He
denied that the fiat had been issued with the
knowledge and consent of Mr. Davies.
The resolution was then put and carried unani-
mously.
Mr. HUMPHREYS appeared for several clients
deeply involved, and urged strongly the pursu-
ance of a peaceful policy, the appointment of men
of business as trade assignees, and as members of a
committee to vetch over the progress of events.
He disclaimed any professional objects when he
suggested the names of gentlemen who, he thought,
would represent the various interests very fairly,
and that it be an instruction to them to call to
their counsel some eminent solicitor, who would
enable them to form correct views as to their posi-
tion. It would be well to see if nothing could b e
done to avoid going on in the Court of tßank-
ruptcy, which would entail an expense upon i
estate of from 33 to 40 per cent. (Hearsahie,aanr,kainngu
cries of " Oh, WO He never knew
not swallow up 50 per cent. of the assets.
case like this of which the Bankruptcy Cou(iirtedaird,
and Messrs.
hear.) He proposed the chainnana
for the
Barlow, Searle, King, and M‘Na'iniatror to the estate.
com-
mittee, and Mr. Linklater as solicitor
when a large number of
A very long and animated
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Jeremiah
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The creditors declined to go so far at present as
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