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

MEETING AT ST. MARTIN'S HALL.

Last night a meeting of the depositors in the Royal
British Bank was held at St. Martin's-ball, Long-acre.
There was a most numerous attendance, the room in
which the meeting was held being most inconveniently
crowded. There was a pretty general call for an ad-
journment to the larger hall, but it was ascertained that
it could not be got that evening.
Mr. WYLD, of Charing-cross, who was called to the
chair, said that as this was a most important meeting,
which embraced legal considerations, he hoped none but
depositors were present, and that all others would
abstain from taking part in the proceedings. (Hear,
hear.) They were aware that within the last two or
three days the Royal British Bank had failed. It had a
capital of 300,0001., of which 150,000/. had been called
up, and it would appear from statements which appeared
in the public prints, that the whole of that capital had
been lost. Every one must have been surprised when
they found that the bank suspended payment on Wed-
nesday last. The object of the present meeting was to
endeavour to obtain a return of the money paid in by the
depositors without the intervention of law. (Cheers.)
They were all, perhaps, aware that steps had been al-
ready commenced to obtain a fiat of bankruptcy against
the bank. There were always certain gentlemen ready
to take advantage of occurrences of this kind—(hear)—
but he hoped they would be able to get more speedy and
satisfactory results for the depositors—many of whom,
in different parts of the metropolis, were subjected to
great misery and inconvenience by the failure of the
bank—in another way than by a recourse to legal pro-
ceedings under the Winding-up Act. Mr. Sheridan, of
the City, would inform them that some 200 depositors
and shareholders met in the City that day, and they dele-
gated a committee of five gentlemen to look after the
affairs of the bank. These gentlemen had some communi-
cation with the directors, and were empowered to inves-
tigate some portion of the accounts. But it was felt that
a sommittee appointed in a hasty manner like that would
not possess that weight and authority with the directors
and shareholders which a committee appointed by so
large a meeting as this would have. It might be said
they had no right to demand this investigation, but he
held that the bank was in the position of a merchant who
failed, and it was usual when a merchant failed for the
creditors to demand an investigation into the cause of the
suspension, and on the present occasion there was a pretty
numerous body of creditors to make that demand. If the
present meeting appointed a committee to act on their
behalf they would be able to ascertain the available assets
of the bank ; and if the statement which appeared in a
leading journal of that morning was correct, that the
bank being under charter they could only come on the assets
in the first instance, and could not make a demand on the
shareholders till those assets were exhausted, it was most
desirable and important to ascertain at once what were
the really available assets of the bank. (Cheers.) The
shareholders they knew were liable to the last farthing
of their property to make good the debts of the bank.
(Cheers.) If they at once rushed into law they would
incur expense and would be a long time out of their
money, whereas by communicating with the directors
, and adopting a proper and judicious course they might
be able to obtain in a short time ksatisfactory settlement
of the claims on the bank. (Cheers.) The investigation
eeeteis }1.,1 falran plans woo nnly auporficial, hut
he believed it disclosed a variety of transactions, some
of which would not bear the light as they ought to do,
and proved that the bank speculated in objects which
did not legitimately come within the scope of bank-
ing transactions. (Hear, hear.) However that might
be, their first duty was to appoint a committee, and
next to adopt such measures as might be necessary to
obtain the immediate repayment of their money to the
depositors and customers of the bank. (Cheers.)
After the meeting of that evening, he hoped some
other bank might come forward to aid and assist the
British Bank, as the London and Westminster Bank on
a former occasion came forward to obviate the inconve-
nience which arose from the stoppage of a private bank.
He knew that great distress and inconvenience was occa-
sioned, especially at the other side of the river,' by the
failure of the bank, and he therefore, in conjunction with
Mr. Taylor, took on himself the responsibility of calling
the present meeting. (Cheers.)
Mr. SHERIDAN said that at the meeting to which the
chairman referred there were some 150 or 200 gentlemen
present, and they placed him in the chair. They asked
the directors what they proposed to do, and the directors
did not seem to know what to reply. They, therefore, re-
solved to take the matter into their own hands, and act for
themselves. They selected a committee of a temporary
character, consisting of himself, Mr. Brown, Mr. Wake-
field; Mr. Singley, and Mr. Mitchell to act for them. The
committee immediately took steps to collect as many
shareholders as they could, in order to obtain from them
some explanation as to the affairs of the bank, and this day
a meeting of directors and shareholders, consisting of
some 80 persons—no very large meeting certainly, but
sufficient perhaps to test the feeling of the general body
—was held. They heard of the meeting which was to be
held there that night, and when they were asked what
they proposed to do, made a proposition with which he
thought the meeting would be tolerably well satisfied.
The proposal of the directors and shareholders then was
this, that if the depositors would only give them a little
time they would pay every one in full. It was urge(lupen
the directors that they should afford some immediate re-
lief to the depositors who were in the greatest distress—
that the poorest should be paid first and the richest de•
positors afterwards. It seemed only fair that the (It pa-
Biters who had received none of the profits of the bank
should be first paid. (Cheers.) He must do the share-
holders present the justice of saying that they declared
themselves ready to pay lip their shares, and would
find 100,0001. in three weeks if it was wanted.
(Cheers.) If the shareholders were willing to meet
the depositors in that way, the depositors ought to meet
them in a corresponding spirit. (Cheers.) One gentle-
man proposed togive 5,001. himself that night. (Cheers,
and cries of "Name.") Mr. Alderman Kennedy.
(Cheers.) It was proposed that two of the committee and
two of the shareholders should have access to the bank-
books, which was acceded to. (Cheers. The proposition
made by the directors and shareholders was to pay 54.
in one month ; ss. in three months ; ss. in six months ;
and the balance in nine months. (This announcement
was received with general cheeriag.) The question
which this meeting bad to consider was, whether it
would not be more for their interest to make an arrange-
ment of this kind than to rush into the Court of Chan-
cery, where they would be kept out of their money for
five or six years. (Hear, hear, hear.) The Tipperary
Bank bad been put into Chancery long ago, and vet
only 2s. 6d. in the pound had been paid. He
would suggest, then, that the best course to adopt was
to give the directors a little time ; and
.as an extra gua-
rantee he added a proviso that the directors should give
bills of exchange under the seal of the company to the
depositors for the sums due. To that the directors gave
their unanimous assent, provided the thing could be
done legally. (Hear, hear.) He had now told them the
real gist of what took place, and he hoped they would
think it satisfactory.
Mr. BURCHETT said he had been at the bank the whole
of yesterday and that day, having a large stake in the
concern, and he could assure the meeting that it was the
feeling of the directors to meet the depositors in an ho-
nourable way, and to avoid, if possible, the necessity of
litigation. (Hear, hear.) He believed the depositors
would not be disappointed as to one iota of their claims.
(Hear, hear.)
Mr. R. TAYLOR said he did not believe there occurred
in history a circumstance which entailed greater dis-
tress on their hard-working and industrious people than
the stoppage of the Royal British Bank. (Hear.) And the
fact of their keeping open till the 3d of the month, when
so many persons, rich and poor, had to deposit money to
meet their liabilities on the 4th, would almost justify
him in the use of a term, which, however, in order
that they might discuss the subject in a calm tone of
mind, he would not give utterance to. (Hear.) Well
knowing the suffering which was caused in Lambeth, he
readily joined with Mr. Wyld, to whom the suggestion
was due, in calling this meeting. He hoped the result
of it would be that they would show to the world that
they could conduct this matter as men of business and
commercial men, without having recourse to lawyers. I
(Cheers.) For this purpose he proposed the following
resolution, " That a committee of depositors be and is
hereby formed, for the purpose of obtaining an immedi-
ate investigation into the affairs of the Royal British
Bank, and be empowered to take such steps, legal or
otherwise, as may be necessary for obtaining the payment
of deposits with as little delay as possible." (Cheers.)
Mr. HEARNE seconded the motion.
Mr. JACKSON said he was unfortunately a depositor to
a large amount, and he quite agreed in the tone adopted
by the previous speakers, but he wished to know whe-
ther they were to understand that the terms proposed by

___ _ ~~_

the directors were binding on the other shareholders
in their joint capacity. It behoved the meeting to take
care what it was doing.
Mr. SHERIDAN said that at the meeting which was
held that day, which was legally convened by the Bohol-
tors of the bank and composed of some of the leading
-hareholdera, they declared themselves as one man to be
ready to pay fully on their shares. (Cheers.)
Mr. JACKSON thought such a proposition ought not to
be received by this meeting as valid. (Oh, oh.) He
wanted to know on what principles the committee now
appointed were to act. (Loud cries of "Sit down.")
Mr. ALLEN said that he was greatly interested in the
proceedings, as the secretary of a society which had •
large sum of money deposited in the bank, and should
suggest that the words "legally or otherwise" should be
left out of the resolution. (Cheers.) The committee
would see if the directors and sbareh olders would carry
out their pledge. If not, they could they. have recourse
to the worst remedy of all to compel them to pay---a
recourse t law. (Hear.)
Mr. TAYLOR said he had no objection to omit the
words. (Cheers.)
The resolution was then put and carried, with only
one dissentient, amidst loud cheers.
TlJe following gentlemen were then appointed a com-
mittee to carry out the object of the resolution :—Mr.
Wyld, to represent the Strand district ; Mr. Sheridan
for the City ; Mr. Taylor, for Lambeth ; Mr. Richard-
-cm for Pimlico ; Mr. Foster, of St. John's-gate, for
Islingt >n ; Mr. Drew for Holborn ; Mr. Richardson for
Piccadilly ; Mr. George Healy for the Borough.
It was understood that no shareholder or solicitor Was
to be on the committee.
Mr. MITCHELL was uominated for the Piccadilly dis-
trict, but his name was objected to on the ground of his
being a sOcitor.
Mr. SHERID.O. said that the Bank placed one of their
rooms at the dispOal of the committee, so that they
would be at no expense.
It was resolved that at ap.7 future meeting of deposit;
tors no person would be admitted without his passbook,
or some other satisfactory proof that he was a depositor.
A vote of thanks to the Chairman terminated th•
proceedings.

FATAL COLLISION IN - THE CHANNEL'

PLYMOUTH, FRIDAY EVENIN4.
The pilot sloop Perseverance brought in here this ar•
ternoon the master, mate, and 10 of the crew, with 10
passengers, being all who are supposed to be saved from
the ship Ocean Home, which left Rotterdam on the Ist
instant with 105 souls. The Ocean Home belonged to
Brunswick, State of Maine, 646 tons, Captain A. 11'
Merryman, and was laden with a general cargo of mad'
der, gin, wine, block tin, &c., and bound to New York;
crew, including officers, 17 ; passengers (men, women,
and children). 88. This morning she was going down
the Channel under all possible sail, royals, topgallant,
studding sails, &c., wind S.E. by S. on the port quay'
ter ; and at 20 minutes past 2 o'clock,, when the Lizard
bore north, distant about 25 miles, was run into on the
north bow by the ship Cherubim, of 2,000 tons, froM
New York for London.
The foremast of the Ocean Home was carried over the
off side, and she went down in about 20 minutes.
Seven of the men jumped instantly into the rigging of
the Cherubim. Most of the passengers ware asleep 10
their berths, but 10 contrived, with three of the crew, to
get into a quarter-boat, and in a sinking state to join the
Cherubim, which was then at some distance. By the
concassion the windlass was driven on the forehatcht
which prevented the seamen below from coming on deck.
Captain Merryman ran to the after hatch to call the
passengers, and was taken down with the ship, after
being entangled with the rigging; he came to the surface,
caught hold of a piece of wood, and then of a cabin-door,
which supported him four hours, when he, with the
mate, who was saved in a similar manner, was rescued
by the Cherubim's boat.
The second mate and two hands left the Ocean Houle
in one of the boats, but it is supposed that they perished.
The Cherubim, Captain Smith, of Richmond, United
States, has a general cargo and a number of passengers,
among whom are the widow and five children of the late
British Consul at New York, who died very auddenfi
14 days after sailing.
The cutwater of this ship is knocked away and souse
of the trenails and butts started, but she has proceeded
up Channel.
LIST OP SAVED.
Crew—Capt. A. H. Merryman, chief officer, Shields;
ship's cook, D. Reed ; passengers' cook, J. Scott • see'
men—J. Anderson, A. Aspigoin, C. Anderson, J.'pe'
ton, E. Brown, C. Rash, S. Kull, and J. Cunningham&
Passengers—W. Makey, D. Andersen, G. \Virden,
K. Acmalac,A. Kelley, M. Dabant, A. Walssen, G.
Vensink, H. J. Tet Slaa, and G. J. Ter Horst.
The crew of the Ocean Home, in charge of the Awe'
rican Consul, and the passengers, in charge of the ship-
Iwrecked Mariners' Society, have been safely lodged ati
the Sailors' Home.

INAUGURATION OF THE NEW MU
HALL AT BIRMINGHAM. •

BIRMINGHAM, FRIDAY EvENiNa•
The concluding concert took place last evening, an
attracted a very large audience. The most noticeable
vocal pieces were Madame Novello's " Ocean ! tho'
mighty monster," and Miss Dolby's singing of the eves'
ing prayer from " Eli." Nothing this excellent artiste
has done throughout the festival—and she has been sing'
ing her best—made a greater impression than did thil
air ; anything more charming could not be imagined ;
it was encored with acclamations. The overtures tn,
" Der Freischutz " and " Zampa " were finely player
by the Orchestral Union, but the great feature of the
night was Mendelssohn's Italian Symphony, given with
a delicacy and precision truly enchanting. Mr. Simms
again exhibited the powers of the new organ ; and af
though his selection of pieces was little to our mina'
and we dare say as little so to himself, they were so 114.
ried as fully to insure a perfect appreciation of the instrw
meat. To Mr. Simms and Mr. Alfred Mellon the di'
rectors owe much ; and music in Birmingham has gelr.,
another home. Let us hope that regular practice, A:
distinguished from spasmodic gettings up of good chore,
works, will be the order of the day. A more admirable
room for musical purposes cannot be, and we are glad to
find the London Orchestral Union give a series of coo:
certs in it, commencing on the 15th, who will be assisted
by Picco, the blind artiste, whose performances last
night gave lively satisfaction.
A supplementary exhibition of the organ took play„
on Friday morning, before the directors and a few pri'".
leged friends, when Mr. Henry Smart improvised to the
great delight of those present, and proved himself a fit
exponent of the qualities of this fine instrument. th',°_,l3.
their hall and their organ the directors may well pride
themselves. Having carefully abstained from the el'
pression of more than a general opinion, at the outset, ag
to the fitness of the hall for the purposes intended, We
have no hesitation in saying that the result of the tarn
days' performance has been to convince us that in
that respect it is a complete success. Its fine acoustic'
properties were tested to the full extent this morning ;
whilst Mr. Smart presided at the organ the ball wag
emptp, yet there was neither echo nor vibration percept'
ible to the smallest extent.
Mr. Cranston may now congratulate himself on
double success—the construction of a hall which has de"
lighted everybody who has witnessed it. With this an
doubt novelty has very much to do, whilst the adaptah,i'
lily of an open•timbered roof for a music hall is by thin
experiment rendered certain. To a man who has don°
so much it is scarcely necessary'that we should suggest
the imperfect lighting of the orchestra; as viewed front
the stalls opposite its occupants are in shadow.
Amongst the company present last evening we noticed
Lord Lyttelton, Mr. Adderley, M.P., and the
Mrs. Adderley, the Hon. Mr. Lyttelton, the Mayor gh
Birmingham, and Mrs. Hodgson, &c.
Of the pecuniary results of the festival we have no in'
formation.

THE CLERICAL DIMOULTY IN CLERKO
WELL,-OPINION OF SIR F. KELLY.

It has already been stated that some difficulties We
presented themselves in the way of the election of an in'
cumbent minister of the parish of St. James, Clerked"
well, which has become vacant during the last few week°
by the death of the Rev. W. E. L. Faulkner, M-44.•
Hitherto the right of the parishioners to elect a minister
has been undisputed, and when in 1849 a vacancy arcae
there was a severe contest between Mr. Fatllkner and
Dr. Dillon. The votes of the parishioners were taken ;
Mr. Faulkner was successful, and he held the incein'
bency of the parish until the day of his death. Upon the
death of Mr. Faulkner, two gentlemen immediatelf
offered themselves to the parishioners, namely, the Rey
IL Roberts, M.A., of Magdalene College, Oxford, who
has for some time been the curate of the parish, and to°
Rev. R. Maguire, 8.A., of Trinity College, Dublin, er
cretary to the Islington Protestant Association. The
necessary steps were about being taken for the election
of an incumbent, when an objection was made that 11,
Sir B. Hall's act of last year the power of election bad
passed from the parishioners to the newly-elected vestry',
Under these circumstances Messrs. Jones and King, th
churchwardens, thought it advisable to take the opinion
of Sir F. Kelly upon the subject. Having set forth the
past cirmstances of the parish and the mode in which
elections have hitherto been conducted, they say :
" Your opinion is therefore requested :
" Whether the parishioners and inhabitants paying to
the church and poor have the right and power of elect-
ing and appointing a minister of the church of St. Jament
at Clerkenwell, and the chapel of St. James, Pentonville,
as heretofore?
" And if they have :

"Whether it will be by single voting or under Sturgeo
Bourse's Act, which gives plural voting for every 251•
up to six votes ; or .

" Whether the power of electing and appointing the
minister is now vested in the vestrymen under the
Metropolis Local Management Act Amendment I"
Upon this case Sir Fitzroy Kelly has forwarded to
the churchwardens the following opinion, which will be
especially important to parishes which, like Clerken•
well, have enjoyed the privilege of electing their owe
incumbents :

"If the right to nominate the incumbent be still in
the parishioners, it must be exercised according to the
decision of the Exchequer in 1763, and in single votes,
and not under Sturges Bourne's Act.
"But it appears to me, upon the beat consideration I
have been able to bestow upon the Metropolis Local
Management Acts, that the right of election has passed
from the parishioners to the new vestry, under the let
2d, and 3d sections of the 19th and 20th Vic. c. 112.
I must add, however, that this construction is open to
so much doubt that as the question is of great import'
once, the parishioners would be perfectly justified in
taking the opinion of the Court of Queen's Bench before
they surrender the right of election to the new vestry.
In consequence of this opinion the election will in all
probability be delayed.