The Sun.
London, England, 1858-12-17 00:00:00

LIVERPOOL BOROUGH BANK.

An adjourned meeting of the shareholders of the
Liverpool Borough Bank was held at the Banking-
house, Water-street, Liverpool, yesterday afternoon.
At the original meeting on Thursday (last week),
the liquidators submitted a report and statement
of accounts, showing the progress which has been
made in the winding up of the affairs of the bank;
and a sub-committee of five gentlemen was then
appointed to inquire into the accounts so submitted,
and to decide what steps should be taken in refer-
ence to them. That sub-committee drew up a
series of questions which it was resolved should
be put to the liquidators at the adjourned meeting
yesterday. A copy of the questions proposed to
be asked had been forwarded to the liquidators, in
order that they might be prepared with answers.
The chair was occupied by Mr. Joshua Dixon.
The CHAIRMAN said,—The first question was as
to the good debts, property, &c. " Mr. Banner's
statement of Oct., 1857, exhibited goods, £758,000;
of this there appears to have been collected
£516,678, and further expected £147,000, making
ix all, £664,000, leaving a balance of £941,000
apparent loss on this account. Is this a correct
view to take of it or not ?"

Mr. BANNER, accountant—That view of it is' not
correct—(hear, hear)—and this is the explanation
of it. If the account of February is referred to, it
will be found that £81,867 is put down for letters
of credit. In the present account you find the
apparent loss on the account to be £94,000, which
is reducible by £40,000 letters of credit. Besides
that, we have in hand bills of exchange, which are
not used, and we have also in hand £193,000 ; and
there will, belonging to credit and calls, pass to
credit, when received, £48,821, making £89,000
against the £94,000. _
_ _

-Mr. BLYTHE—As to £49,000 of bills not yet re
ceived, I think there is some doubt about this.
Mr. BANNER—I don't suppose so,

The CHAIRMAN—Your nest question, Mr. Blythe,
is—" Doubtful and bad debts." In Mr. Banner's
statement of the 27th of October, 1857, this item
was thus represented :—£987,956, estimated then
to produce £361,842 ; received on account of this
to date; £90,410, and further estimated to produce
£172,109, making a total of £262,520, showing an
apparent loss on this account of £99,322 ; " w anted
some information as to how this loss has arisen—
whether from depreciation in property, debts, or
what. cause ?"

Mr. BLYTHE—I simply wish for the explanation.
I want to knoiv how it has arisen. I see you esti-
mated the formidable amount to produce £360,000,
but it has only produced £260,000, which makes an
additional loss of £lOO,OOO. Weare £89,000 worse
than we were twelve months ago, bad as we were
then, even upon the last account.
Mr. BANNER—£IO,276 is applicable to that ac-
count, leaving the loss as you state.
The CHAIRMAN—The next question is, "Doubtful
of bad debts for calls, £96,355—a list of these re-
quired." The chairman referred to the unadvis-
ableness of submitting such a list in the presence of
the reporters, as such' a course was likely to be
prejudicial to the interests of the bank, as the list
included many names from which something was
still expected.
After a lengthy discussion the list was read.
Another request by the shareholders was for
permission to employ an accountant to examine
the books belonging to the bank respecting any
period that might be thought necessary. 'Pith
this request the chairman stated the liquidators
had not the power of complying without an order
from the Court of Chancery.
After some further questions had been asked,
the shareholders appointed a sub•committee to
confer with the liquidators from time to, time, and
the proceedings terminated.

t
71
•
Rank and Name. Corps, Station. .31" Remarks.
Lieut. R. Grant RI. Engnrs. Jamaica. 10 2226 Passed.
Capt.W. C.Nangle RL Artllery Home 16 1802 Do.
Lieut. and Adjut.
.R. C. Goff 50th Reg-t... Ceylon... 40 1589 Do.
Lieut. A. ll.Wavel 41st Regt.... Jamaica. 5 1495 Do.
{
Cpt. H. Wilkinson tat Bat. Home .. 23 1445 Do.
9th Ft.
(Qualified,
but there
is no va-
Lieut. J. B. King. Rl. Artilery Malta .. 2 1317 cancy for
a-3d offi-
cer of the
•
Ord. Cor.
Capt.lLF.Morgan 28th Reg,t... Malta .. 1 1230 Passed.
Capt. A. S. Jones,
V.O lBthH'ssars Home .. 14 1197 Do.
Cpt. E. M. Pal liser Mltry. Train Home . . 17 1013 Do.
Capt. It. B. Stokes 54th Reg,t Bengal.. 1 845 Do.
W. Ids. 1 521 Fled in mat
E. Inds. 1A 515 Do.
Home .. 19 299 Do.