The Sun.
London, England, 1857-03-26 00:00:00

THE 1?,)Y AL BhITISH BANK.

cfhere was a meeting yesterday, at the Court of
Benkruptcy, before Mr.
.Commissioner Holroyd,
For the iurthcr exemination oF Mr. Edward Esdaile,
he late Governer of the Bank.
Mr. Linklater appeared for the assignees ; Mr.
Veining for Mr. Esdaile ; Mr. Ellie watched the
case on behalf of the repre3entaives of the late
Mr. Chas. Walton.
Mr. Linklater, before proceeding with Mr. Es-
Jai'e's examination, applied to the Commissioner
for the appointment of a further dividend sitting in
this matter. He stated that there was now in hand
sufficient to pay a further dividend of 2s. 6c1., or
at least 2s , in the pound. The assignees were very
desirous that an early sitting should be appointed.
Mr. Linklater then remarked that. the general com-
promise with the shareholders would, in all proba-
bility, be delayed in consequence of Parliament
having risen so unexpectedly, but that the assignees
were proceeding with the composition, and it was
all-important that the creditors who had not
already done so should signify their acquiescence as
soon a 3 possible.
The 17th of April nett was accerdingly appointed
for the dividend sitt:p.g.
Mr. Linklater said jt was due to Mr. Paddison
to state that he had nothing to do with the securi-
tes taken from Mr. Walton, and those taken from
Mr. H. Brown were taken with the perfect know-
ledge, on the part of the directors, of the irregu-
larity of such securities.
The Commissioner—lt is not a common practice
with bankers to take such securities.
Mr. yenning—Among merchants I am told it is
exceedingly common to do this thing upon honour.
Mr. Linklater—" More honoured in the breach
-than in the observance."
Mr. Linklater st eted he had teen asked by Mr.
Goddard, a professional man, a surgeon, to mention
pUblicly that lie is not the Mr. Goddard who be-
came bankrupt by having taken shares in the Royal
British Bank.
Mr. Paddison stated, as to Mr. H. Brown's
securities, that he did advise the directors most ex-
plicitly about the consequence of the non-registra-
tion of the ships; pointing out that the consequence
wool I be that, for want of re6eietration, it would
certainly be in the power of Mr. Humphrey Brown,
if he thought proper and chose. to do so, either ti
sell or to mortgage the ships and to destroy the
bank securities.
Mr. Paddison further said, respecting the state-
ment he had made as to the discussion about clause
71, et the instance of Mr. Humphrey Brown, in
March or April, 1855, that all the &rectors present-
at that meeting appeared to be opposed to Mr.
Humphrey Brown's suggestion.
Mr. Esdaile here said—With reference to my evi-
dence given at the last examination on the subject of
Mr. Walton's account, I find that in consequence of
Mr. Liuklater having brought to my mind circum-
stances which showed that I knew the state of that
account before I took the chair in February, 1855, I
was led to infer that 1 must have had access to the
green ledger before that date, contrary to my first
Impression butfromfacts of whichMr.Paddisonhas
reminded me I believe I *as right originally, and
that I tnuet have come' at a knowledge' of that ac-
count- flora some other source, and not from that
book (probably from Mr. Cameron's statement,of
As to the case of Mr. Frederick Clark, and the ad-
vice ,given by the Attorney-General, I wish to state
that I am not aware that there was anything in that
case which the bank would have been made to ex-
psse,, except the fact that it had *a serious lock-up of
capital in.a colliery in Wales, and this, I suppose,
was the meaning of the Attorney-General in his
advice to us. With respect to the general conduc
of myself and my brother directors, whic4 Mr.
Linklater has so severely arraigned, it is only fair
to state that, except those directors who were debt-
ors to the bank, and who were but four in flambee'
out of 22, we hed•no personal interests in carrying
on the bank. For myself I swear I was actuated
by a sincere desire. to do the best for the sharehold-
ers. We were not taking money from the bank,
but were labouring incessantly to retrieve its
affsirs. After I became governor, I was my-
self there almost daily and almost all day long ;
and, if the attempt to carry on the bank should
now appear absurd, it is surely due to us that the
public should consider that the present state of af-
fairs was not present to our minds. The disasters
which have occurred came upon us by degrees, and
the large deficiency now shown by Mr. Coleman is
to a considerable extent due to the loss which al-
ways attends iodisation in bankruptcy. To the
last we were led to suppose that there were meny
chalices of extrication before us ; that the Welsh
works would have been leased at a royalty or taken
up by a public company, so as to cover that outlay.
The less by Mr. Brown we did not suppose could
be a heavy one, his securities having begin valued
at 60,0001. We were, moreover, iu treaty whh
another bankieg establishment, which was not un-
willing to ti4a-, with us on the footing of giving us
a large capital sum for thegeod will of tile business we
had acquired at, so small cost, subject of course to in-
vestigatioc. We als looked forward to sit engtL en-
iug the bank by additional capital and by more iuflu-
eri ial di/ estors ; nor did we consider it improbable that
underouraltered circumstances and improved posi-
tion, some men of capital and enterprise miht be in-
duced to ally themselves with the bank, who, with
a knowledge of its burdens, would likewise appre-
&ate and be influenced by its capacity of profitable
development. If our hop-s in arty of there resp-ct•
had been realised the failure of the bank would
have been averted. r ani not anxious to Show to a-
we were right in the course we took. We may have
been too often injudicious in our conduct under tai •
difficulties of our positiou ; but I am most anxious
that it should appear that our motives were correct,
and that we had ni other a in than to du our Lat,
in the cireutestances in which we were placed. It
is in this way that the %matters, upon which Mt.
Linhlater has so strongly adverted are to be ex-
plained. When we presented the half-yearly account
—when we-declared dividends—wh, n, we called in
or invited shareholders to join us with further capi-
tal, or did any of the other acts which have 13.::en
censured, we were governed by the same motive.
So lung as, the directors thought that the circum-
stances were not such as to averrant them 1n
closing the bank, so long it was ,ab itilet neeee-
sary—as every men of business w,ll koow—t ) pay
interest on the capital, and to uphold, es we enuea.
-mused to do, the credit of the bank with the pub-
lic. I have been much pressed as to my opinion o:
the insolvency of the bank at differ, nt periods. I
think it must be apparent to every, ody that up to
August, 1854, when I took up 10 of the new shares,
I could not have had any fear as to its stability and
ultimase success, and, afterwards, surely any c or-
tinue l connect.on with it is the best evidence of
the reliance I placed on the future. I joined the
bank in its eerliestestage with upright intentions ;
I have remained by it through its troubled career;
and I have sunk with it, thank God, with &eau
hands—(hisses and other marks of disapprobation)
—and a conscience which exon rates me from one
act of intentional wrong.
Mr. Linklater—Mr. Esdaile is welcome to the
benfit of his explanation.
Mr. Esdaile was then examined by Mr. Linklater
as follows :—Tlie pronesory note for 18,4571.,
'dated the-28th of Jan., 1854, payable three months
af:er date, produced, : igned by Messrs. M‘Leari,
Chandler, john Baring, J. C. Thompson, and
Hunaphrey Brown, is signed- by me. I and three
of those pereons. were directors of the batik: Mr.
Chandler was the auditor. Mr. Thompson was the
engineer of the Wandle Waterworks Company. That
note was given for money borrowed by me and my
co-director., for the Wandle Waterworks Company,
of the Royal British Bank. Tne note was repaid
with interest. I think there is no halauce due ua_ on
it. I can have no conception that there is upwards
of 2,000/. due upon it. The Wandle. Waterworks
Company had started the thing, I think, in 1852.
It must have been that I and my co directors bor-
rowed in 185? of the Royal British Bank 15,6551.
for the Wandle Waterworks Company. I was, in
1852, a director of the Wandle Wat-rworks Com--
pany. . The money borrowed of the-Royal British
Bank was for that company. It was upon ample
security, and was repaid with interest. If lam to
answer the question as to whether or not the
Wandle Waterworks Company went to Parliament
in 1852 or 1853 for an Act, I admit they did,,. The
Bill was opposed.
Mr. Venning submitted that there was no reason
why the affairs of the. Wandle Waterworks Corn

I parry should be paraqed before the public. •
The Commissioner—Your anxiety gives th 13 ap-
pearance that there is something in it. .
Mr. Linklater—Mr. Yenning is your brother.in-
law,
.1 believe, Mr. Esdaile i
Mr. Ven u i ng—He is.
Mr. Linldatdr—That may account in some mea-
sure for the interruption.
Examination continued—l don it know how long
quite sure '
that
whetherlits,woT. rernd.ned unpaid. When it
was unpaid on Jan, the'
was taken u paid with interest. I am not
18,000& in the
upon the a portion of that did not remain
account,previous
. and was incorporated in the
jae:io,,us MI. I presume that note
b 1854. It was afterwards paid
with interest,
hraa dn questionno risk i saks in) that
whether , a d -
v a n c e . I cannot answer thewseacsumri;ysitghtteatbure
ktothe pet nion to the Cour t
for. the advance of
lt hse,
605n511y.
(f Coancery for a return of the money. in case the
bill was thrown out. The Ban'
c received the Lke
security for the note for 18,0001. I have not been
connected with any companies that I knoien
of thate
male use of the funds of the Royal British Bank.l
was not a member of the Waterproof Brick and
Tile Company. My name was put to the paper pro-
duced without my authority, I was acquainted with

the Royal Australian Gold Company. I was con-
nected with another company which was based upon
that. The Royal British Bank were their brnkers,
if it says so there. That company became defunct.
The Wandle Waterworks Company-also became de-
funct. I have heard of the Irish Peat,Companr, but
I have had nothing to do with it. I have not heard
until this time of the Home and Colonial Improve-
went Company. Mr. Gwynn was a director of the
Royal British Bank. Ido not know that he was a
director of any other company. I believe that Mr.
Cameron did at one time make a complaint that
there were so many of these companies with
which the Royal British Bank was connected.
He never complained very much that the parlour
of the bank was used by the directors of these com-
panies. I never had an account myself with the
bank. My partner, Mr. Margrave, however, had
a cash credit account . with the Royal British Bank
to the amount of 5,0001. The balance owing by
Mr. Margrave to the amount of 4,0001.• has been
paid since the bankruptcy.
Mr. Linklater—l do not wish to mention the
name now, but did you in Jan., 1854, obtain for a
brother-in-law of yours a cash credit for 1,0001. ?
Mr. Esdaile--Yes, I did.
Mr. Yenning—l may state, that brother-in-law is
not myself. I have no doubt we shall have the
family here ; but it is not me on this occasion.
Mr. Esdaile here detailed the circumstances con-
nected with that advance.

Mr. Linklater—ln what amount did you find
that Mr. Walton was indebted to the bank on the
Ist of February, 1855 I—lt was 46,6971., upon dis-
count account. Taking the discount and current
accounts at that date there would be due from
Walton to the bank upwards of 52,0001. The only
security the bank•held for that debt was the deposit
of 52,0001. which was the mere deposit of the mort-
gage on the Helen Lindsay, the Hero, Magdalena,
Ocean Wave, Hornet, James Gibb, and William
Stevenson, and the commercial names attached to
the bill, constituting the discount account. I think
it must have been that in the month of January,
1855, we learnt that there was considerable appre-
hension with referehce to the security held by the
bank from Mr. Walton in the shape of that com-
mercial paper. The letter produced from Charles
Walton to Hugh Innes Cameron, the general ma-
nager of the Royal British Bank, is signed by Mr.
Walton.

Mr. Ellis objected to the reading of letter ;
but

The Commissioner overruled his objection.
Mr. Linklater read the letter, which wits as fc.
lows :

" Private.

"Tclse•hi9, Jan. 11, 1854.

(Should be 1855.)
Dear was much surprised to hear from my son
that you refused to discount any bills for us. I beg to tell
you pl only that it is absolutely necessary that you should
continuo to discount such bills as we receive from per-
sons who owe us the money, not only to prevent us
stopping payment, but for the safety of the bank itself,
which must fall if the governor an,d two of the directors
fail, with whom will also stop six or seven other persons
connected with the bank. You are not acting the part
ef a prudet.t man of business in thus stopping us in our
energetic course of gradually liquidating and withdraw-
ing the bills from the bank, which cannot possibly be
dune without us having sufficient time to realise our
assets. Perhaps you are not aware that we have already
paid this mouth between 30,0001. and 40,0001. bills held
by the bank, and between this and Monday shall pay
snout 2,0001. more, thus gradually but continually les-
' seising the amount of paper in the bank's hands (I do not
reckon wbat has been done for Mr. H. Brown, as the
bank hoTds the securities), but it must be a work of time,
and cannot be done without the bank's assistance in the
way of discounts; this is a positive fact ; and if you
ii k the safety of the bank by refusing to discount, let
me know at once when we ourselves, Mr. Brown, Mr.
Cochrane, and four otbe a, must stop payment; for what?
Not forany anticipated loss to the bank, but a refusal of
a sietauce to allow us time to realise. But before you
commit this rash act, pray consider this, that you are po-
sitively benefiting, not injuring, the bank by discounting
for us, as otherwise the bills must come back to the bank.
2.11 y, That you ran no additional risk whatever, but con-
trariwise; and that it was better for the bank to refuse
discounts to all o.hers trap us, which, if refused, will
ing do NI tie bank with it. As far as we individually are
cone reed, our liabilities ale sina 1 and means ample; but
we hare got to bear on our shouluers Mr. H. Brown, Mr.
Cochrane, and others, until we can realise their property
(excel); the secend), which is a dead loss to ue, but none
to the bank. We have to bear the whole of his losses ;
every one else escapes; all of which we can arrange by
necessary discounts. Our acceptances' are small ;it is
others owing us, and not us o sing others; so all our bills
are receivable, which we must assist the acceptors to pay.
We only want time, for as the ships'lreights are paid and
other accounts, eo sna 1 we want less and less of the bank's
as:is•anco; but this can only be done by having time a-
towed us to realise. Please recollect this, that in assisting
us in the way of dieceunte, the bank seas no additional
risk whatever, and obtains a good return, we being wil-
ling to pay -El per cent., as our large business can well
atiord ; but in refusing it runs the most imminent danger
et stopping. When you know the fearful exposure and
consequences that would ensue, as governor of the back
end a considerable proprietor. I feel a deep interest in
its welfare, and de honestly beg of you to consider the
:earful consequences to all coneerned it you refuse to as-
eist, us in discounting (we want no loan), which yuu can
do with safety arid advantage to the bank, and it will
not lose one penny by us, as we have pleuty of assets.
You hold securities to a considerable amount in your
hands. I write this in pain, so excuse all blunders. I
-will the moment I ate able put everything straight with
the bank, and merely 1:t the Mille be credited less dis-
ceunts as they are done. I am gradually
recovering, and now mum able to get du wn
dinner ; and hope, by God's blessing, iu
a week to be able to come to town. WI- ate vex may be
arranged hereafter, you must discount slice bills as they
went t) prevent a fearful catastrophe ti 1 I get to to No.
—Yours with much sincerity, •

"CHAS. WALTON.
" Hugh Innes Cameron, Esq., General Manager
of the Royal Briti.h Batik."
Exunination continued—At the 'same time that
letAer was written the large amount owing from the
mana,,zer, Mr. Cameron, to the bank, must have
been ovci ed. it appears these as a fact that
during the absence of the general manag,-r, I dis-
couhted for Mr. C. Walton his draught upon Mr.
Cochrane for the 7001. on the 17th of Mar,..h, 1855.
It is C. Walton's discount account. That must be
subject to explanation. I find two names in the
book produced, one beg.nning with the initial G,
the other with the initial S, • two persons who
w, re said to be touch involved with Mr. Walton
at the time. After that time other discounts
were made on bills accepte.l - by the same
parties to the amount of thousands. But that was
'iron Mr. Walton's declaration as to the ship secu-
rities upon which be bad granted advances to those
parties. The bank parted with their own moneys
on merely getting the bills together, with the secu-
rity of Mr. Walton's name. The balance upon the
average on Mr. Walton's discount account wi'h the
hank in 1855 was between 20,0001. and 30,0001., but
it was larger-40,0001., then 17,0001., then 16,0001.,
and finally it was extinguished. I have heard Mr.
Cochrane 's name mentioned in Mr. Walton's letter,
and I see that in an early le.ter in Dec. Mr. Walton
alludes to Mr. Cochrane s difficulties. Mr. Coch-
rane must haveinvolvel him very mm h. The Royal
British Bank in that very month of Dec. granted a
credit to Mr. Cochrane of 5,0001. upon the security
of certain bonds at Liverpool. Mr. Cochrane was
at that time a direr or of the bank. There were four
b 'nds given, atnonnting together to that sum. Mr.
Cocnrane thereupon hal liberty to draw upon the
funds of the bank to the amount of 5,0001., a privi-
lege I have no doubt he soon availed himself of. The
sureties to one cf the bonds of 1,000/. were Kirk
and Furness, of Liverpool. Ido not know when
they failed. The deed of composition is dated very
son after the transaction. Mr. Oxley is one of the
sureties for another 1,0001. •Ho failed about the
same r1111(3. Wlr n these two sureties had gone for
2,000/. we asked him to show us a statement of his
account. He had no security to give us at that time.
His account increased after I became governor, ou
Feb.], 1855, from 5,0001. to 10,0001., upon the
strengrh of certain credi•s which he said were either
in his hands or coming into his bands. I will say
what they were if you will allow me.
Mr. Linklater—lf you will do me the favour to
reserve your explanation until I have put one or
two questions with regard to the account I shall be
obliged. I observe that on Feb. 5 the amount of
5,5001. is transferred from the drawing account to
the discount account.'
Mr. Esdaile\—l do not know.
Just see whether you do not find that from Feb.
5, 1855, although Mr. Cochrane was in that hope-
less state that you have told us, the account gees
on, and in june, 1855, while you are governor, the
amount owing by Mr. Cochrane upon that discount
account was 11,231/. ?—Yes. (Sensation.)
For that the bank had no security ?
Mr. Esdaile—No tangible security. (Laughter.)
But I have an explanation to make upon that.
(Renewed laughter.)
Certainly ; and it so continued, and the amount
now owing. by Mr. Cochrane to the bank is some-
where about 100,0001. ?

Mr. Esdaile—ls it so much as that ?
10,4271. 2s. Bd.
Mr. Esdaile—Whatever the books say, of course,
I admit.

Mr. Linktater—Now any explanation you like.
Mr. Esdaile—At the time the 5,0001. bonds were
given he put a list before us of certain liabilities of
his about to mature, and which those bonds would
cover. At thattiniethebank was impressed with the
,staUity ofthosenameß. (Alaugh.) Thebank hadno
reason to doubt the stability of Messrs. Kirk and
,Furness, or Mr. Oxley ; but subsequent to that,
when Cochrane's embarrassments became more ap-
parent, and the pi esSura upon him became more
severe, we called upon him to make a general state-
ment of his affairs in our hands, and h 3 otwwed us
that there were lAls, acceptances of his own, to the

extent of 5,9001. maturinz ; that he was under
obligation to meet demands, part of which would
be compromised to the extent of 1,50 C/. or more,

and at that_ time there existed an over-draught
upon the account—nay memorandum states of
1,800/.,—making together 9,2001., against which he
placed these credits. You asked me why we let him
go on. He said there were the,proceeds of cargoes
of wood in his brokers' hands to the amount of
5,995/. •, that there was due from the Halifax houre
with which he had commercial transactions 4,000/. ;
that he held shares in thebank, and other securi-
ties, together equal to 2,000/. ; that he had cash at
this time at the London and Joint-Stock, and at our
bank, 8001., in all, 16,3901., having actually given
us a return of five large debts ow 'n; to him from
estates which had then become bankrupt, including
Oxley's failure, and Kirk and Furness, together
amounting to about 7,0001., the dividends upon
which be reckoned to be quite equal to 2,2001., or
thereabouts, and appearing in the schedule of cre-
dits to the extent of 18,527/. Besides that 18,090/.
those 5,0001. of the Liverpool bonds were running,
so that it did appear, unless-there was some great
fallacy in the figures, that the bank was covered
with a very large margin—by 5,2771. The‘loubt-
ful figures which he reported to us in these, credits
were the 5,290/. given in as the balance of proceeds
of the cargoes of wood. He said brokers had
charged for interest upon advances and other
charges, such as dockage expenses, which would
very much impair that figure, but he said in his
opinion there must be between 2,0001. and 3,0001.
.coming to him. That would still have left a large
margin to cover those advances, and under those cir-
cumstances not wishing to expose the bank to' the
unpleasantness of the failure, and the unnecessary
failure, as we believed, of one of our number, the
bank allowed him to act upon the account to a
certain extent, always feeling that they had a mar-
gin of many thousands in their favour. If you ask
me whether these securities were then of a tangible
character, such as we could put our hands upon, I
should say they were not, because the dividends on
the bankrupt's estates were coining in to the extent'
of 2,0001. His dividend of the Halifax house had
not been realised. His bank stock remained, and
though now you may say we had no right to look
upon it as a security, we did look upon it as a secu-
rity. That is my general answer to the question.
How cofild I, in my position, see the account accru-
ing from the date I took the chair ? My answer is
that we believed the bank was amply secured by the
credits he showed in the statement of his affairs.
Mr. Linklater—Why delude yourself with such
language as " having security ?" Does it amount to
more than this—that Mr. Cochrane represented
himself to be a solvent man ?
Mr. Esdaile—Yes, very far above insolvent. They
held among other -securities a number of shares in
the bank. (Laughter.) The bank at that time began
to experience inconvenience. This was in Sept.,
1855. Their funds were becoming very short. Trey
relaxed their discounts, but he was not aware whe-
ther the discounts to the directors were restricted.
A letter was here produced from Mr. H. D. Ma-
deed, an officer of the bank, as addeessed. to Mr.
Cameron. It commenced, " Dear Mr. Manager,"
and acknowledged the receipt of a haunch of re-ni-
son, which had arrived safely. It also set for h that
he could make up 25,0001., but that that was their
last shot —(a laugh) —and that there was no pros-
pect of meeting their payments on the lath. The
manager was much wanted again at the helm.
It appeared from the further examination of Mr.
Esdaile that, notwithstanding the board bad con-
siderable apprehensions in Oct., 1855, of being able
to go on, they issued a circular to the shareholders
stating their intention of opening a branch in Hol-
born and adding 2,000 to the existing number of
shares. By issuing the shares they were endeavour-
ing to do all they Could to uphold the bask.
(Laughter.) The last report to the shareholders
was issued without a signature. Did not know who
drew the report. He must have 14 a hand in it.
Mr. Cameron's absence from the general meeting
on the Ist of August last was, no doubt, at the in-
stance of the board of directors. (Sensation.) He
had written offering to come. The bank paid him
his salary up to the Ist of Sept. 1856, and then let
him go before the general meeting of the Ist of
August. He never treated the green ledger as a
mysterious book ; all he said was that he was not
cognisant of it. He durst say he heard it stated
that Cameron kept that book from the directors,
and that he alone had the key, hut he might have
heard that
,statement made by Owen, and not con-
tradicted it. The book could not have been kept con-
cealed by Cameron, because it was open to obser-
vation. Would not like to swear that he did not
know before he came to the chair that Cameron had
e. discount account at the bank. Mr. Cameron
might have discounted his own bills.
Mr. Linklater—Did you allow him to keep the
s as he pleas :c1
Mr. Esdaile—He was the supreme executive of
the hank.
Mr. Linklater—Supreme ! I thought you were
the governor ?
Mr. Esdaile—l am talking as exeutive.
Mr. Linklater—You do not mean to say he WAS
there for use, and you for ornament ? (Laughter.)
Mr. Esdaile—lt was very much the case. (Re-
newed laughter.) On the 31st of May, 1856, a
special court was held, when •it was determined
" that Hugh InneeNameron ba not continue I as
general manager beyond the Ist of September,
1856." It would have been arn.awkward circum-
stance to mention in the report that he had been
" dismissed,". and it Will be found theie that Ca-
meron bad " resigned." In May, 1856, the Rev.
J. H. Gos3ett„a shareholder, required the bank-to
find a purchaser for his shares, he being uneasy in
consequence of a communicatiou frbei an unknown
correspondent. The bank replied that he should
put them in the hands of his brokers. Mr. Gossett
did so. But being unable to find a purchaser, threat-
ened to cll.! a meeting of shareholders and deposi-
tors. The directors gave directions that the soarer
should be purchased. That would be with the
bank moneys. There was no entry in'the books of
ih;s transaction. Oh, no. The broker was my ITo-
ther-in-law, and I recommended him not to put in
his name as the transferee of the shires. During
the whole period of the bank's career a sum of only
exceeded 150,0001.,
eared, debts
4,0001. odd was carried to Vie bad. debt fund,
Rwhereas
were
ee
ascertained debts cet'de
tox be
not-
withstanding, through subsequent half-yearly ac-
counts as assets.
A report had been issued ins which it was stated
that "the contributions of innumerable small rills
gradually swelling into a mighty head might be dif-
fused so as to fructify the surrounding space and
sbiaalessingtothe givers and receivers." This
mile A
applied to the blessing to be derived. from
the Royal British Bank. (Laughter.) The report
concluded—
" That the benefits of the institution to the commu-
nity would as much exceed those of even oavinge-barks
as did the gains of the good and faithful servant those
of him who kept his pound laid up in a napkin."
(Loud laughter.)
cru further examination Mr. Esdaile said—lt
was true, most true, that the best principles were
of little avail unless they were practically, intelli-
gently, and faithfully acted on ; these wore the pro-
fesions of 1849. It leas intended that the bank
should commence with a capital of 500,0001., but
as the public would not respond they reduced the
capital to 100,000/. They made every effort to get
out the shares. The Parliamentary expenses were
9,00 G/., including 1,0001. paid to the directors. He
(Mr. Esdaile) had seen the 'bank through all its
hopes and all its difficulties—the difficulties first
and the hopes after. A Mr. Menzies was the se-
cretary of the bank at the commencement. He'
did not know then that he was at that time in
Whitecross-street. Did not know of Mr. M'Gre-
gor's arrangement with the proprietor of the Hall
of Commerce to give him 5001. if he got the bank
to purchase the building. He remembered Menzies
going to the North with Alderman Kennedy to
look after shareholders ; they got plenty of pro-
mises ; the Newcastle people got their money back.
A letter was read from Menzies to Mullens, the
then solicitor of the bank, dated Burden's Hotel,
Whitecress-street, Juno 21, 1849, requesting Mul-
lens to obtain his release, that he might be enabled
to attend the next board meeting, and put all
thingsr.Lr
el right.
ir 1 a
ter here real a statement of the di-
rectors sent out to the world :
"That the Royal British Bank being incorporated by
Royal charter, it possessed a privilege of doing local
business equal to any bank except the Bank of England.
The Lords of her Majesty's Privy Council of Trade had
already approved of tee deed of constitution by it:weal-
ing the capital as the nature of the business might •re
quire.

(Sensation).
Mr. Menzies was described as "John Menzies,
Esq., Secretary," in the repOit.. (Laughter.) Mr.
John M'Gregor is indebted to the bank about
7,0001. (Mark of disapprobation.)
Mr. Ellis explained as to the discount account
which Mr. Walton, deceased, had kept at the bank,
that was beneficial to the bank. It was a mistake
therefore to ray that Mr. Walton was at any time
indebted iu a sum of 43,0001. on that account.
The bills discounted were all paid off. The letter
he had written to Mr. Cameron was penned on a
sick bed, Mr. Walton being then confined to tl:e
house under a severe attack of illness.
His Honour•said that it would be a very benefi-
cial rule if directors would not discount with their •
own banks.

Linklater stated he had concluded Mr. Es-
dage's examination. It was his intention to exa-
mine Mr. Apsley Pellatt on Wednesday next, and
he had promised to attend for that purpose.
Owing to the extreme length to which Mr. Es-
daile's examination proceeded yesterday, it has been

found quite impossible to give more than the heads
of the inAtters to which it relatel. The Court was
densly crowded throughout the day, and the cue-
appeared to create great excitement.

ASSIZE INTELLIGENCE.

HOME CI EtCUIT.—KINGSTON, MARcu 25.

(Before Mr. Justice Cresswell.)
ELLIS V. THE SOUTH3WESTERN RAILWAY-COMPANY.
Mr. M. Chambers Q.C.,--ancl Mr. Hawkins,
were for the plaintiff; and Mr. E. James Q.C.,
and Mr. Lush, appeared for the company.
The plainfff in this action is a farmer, occupy-
ing. land adjacent to the Guildford and Godalnaing,
Railway, and the action was brought to recover
the value of two colts that had strayed upon the
line and were run over and killed by the train, in
consequence, it was alleged, of the company not
keeping a proper fence, in accordance with the pro-
visions of the Act of Parliament. An endeavour
was made, on the part of the plaintiff, to show that
at the place where the accident happened there
was a public right of way for horses and pedestrians,
but the case failed altogether as far as proving
that it had been used by horses ; and, although it
seemed to be made out pretty clearly that there
was a footpath at the place iu question, yet it 'ap-
peared that the company had put up a gate, and
provided a lock and key for the use of the
owner of the land, and that if this gate had
been kept locked the accident could not have
happened ; but it seemed that :the key had been
lost, and that the gate had consequently not been
properly secured.
Mr. Justice Cresswell without calling upon Mr.
Jame] to:Addresslthe jury, said it appeared to him
that the plaintiff had not made out any negligence
on the part of the railway company, and that, on
the contrary, they really seemed to have done all
that could be required of them for the prevention
of accident; and that the accident would not have
occurred if the gate had been kept locked, as it
ought to have been.

The jury at once returned a verdict for the de-
fendants.

POLICE INTELLIGENCE.—March 24.

MANSION-HOUSE—In the case of Messrs.
Hill and Brough, who were charged with having
appropriated the amounts of two bills which had
been sent to them as agents by Mr. Harrison,
Mr. Hobler appeared upon the part otthe de-
fendants, and stated that his lordship having
kindly allowed the matter of accusation to stand
remanded, an opportunity had , been afforded of
making explanations which he was happy to say
were considered by the complainant to be satisfac-
tory. His lordship would therefore, he hoped, as
no further charge would be brought against Lis
clients, discharge the recognisances of Messrs. Hill
and Brotigh.
Mr. Matthews, the solicitor for Mr. Harrison,
intimated that his client was satisfied with the ex-
planations alluded to, and consented to the dis-
charge of the recognisances of the defendants.
The Lord Mayor then discharged the recogni-
sances, and said the ease was at an end.
Several lads, most of whom were recognised as
active and experienced thieves, were charged with
having picked gentlemen's pockets of liandOerchiefz,
and were sentenced to different terms of imprison-
ment with hard labour.

DOW-STREET.—Catherine Smith, late a ser-
vant to Mr. Styles, oil and colourin.an of Tavistock-
street, Covent-garden, was chArged with stealing a
sovereign from the box of a lodger, Frederick Kelf,
a waiter at.the Tavistock Hotel.

The prosecutor said that on Sunday last he placed
five sovereigns in hips box under the bed. At about
four o'clock on the following day, having occasion
to go to his box, he missed one of the sovereigns.
The box had been forced.

Mna Styles said that the prisoner, who had only
been in his service a few weeks, went out on Mon-
day, and returned at night very drunk. She was
put to'bed, and some time after a woman called
and asked to see her, saying that prisoner's sister
was very ill, and expressing great anxiety to bring
her away to see the invalid. As the woman pressed
the matter very urgently, he allowed the prisoner
to be called, and she went away. Considering the
state she was in, he was not sorry that she was
gone, as he apprehended some danger to the chil-
dren, who slept iu her room. The next morning
the prisoner did not return, but in the course of
the day he heard of the prosecutor's loss, and ago
heard that she had changed a sovereign at the Salu-
t at: on public-house in Tavisto ek-s tre et. Knowing
that she had no money previouslyto that day, and,
iu fael-, had borrowed a few shillings of him on
account about a week before, he ;nada inquiries
and found that the whole story about the sister
was a fabrication ; that the character by means of
which she lid got into his service was a false on,),
and that she had been discharged from her previous
situa ion for drunkenness and suspected theft. In
the evening she came to claim her b'x, and was
given in charge. She then said she had not changed
a sovereign.

The prisoner said she .was, not guilty. She had
no reo!leciion of changing any sovereign at the
Sattitatiqn but she was very drunk, and it was
quite poSsible that she might have changed one for
the woman who was with h.r. Mr. Styles was
misinforMed •as to her character, which was
genuine ; and she had not been discharged from
any situation for misconduct. •
Mr. Wickham, landlord of the Salutation, said
that when the prisoner -changed the sovereign she
was treating the women who were with her, and
saying that it was her birthday, and she meant to
enjoy herself. One of the womon was about to
take up the change,
,hut the prisoner would not
allow her. She asked him to wrap it in paper,
which Ile did, and she then put'it in her pocket.
.She wa,sdrunandel f,:r further inquiry. -

'WORSHIP- STREET.--Jossph Pye, 19; a
young man of respectabte exterior and manners,
was enar4ed with attempting to drown himself, by
leapin4 from the Qaeen's-road-hridge df the Re-
gen!'s-cazial, Dalsto-L

M‘Le1d,,2135 N, while on duty at two o'c!ock
yesterday morning, was t'..ld that a man had sprung
from the bridg which is marly 20 feet high, and
on arriving there found defendant in the water,
from which ho succeeded in extricating him in a
sen.sehfss state. On recavery at the station-house
be said, "This will kill pie." Some of his friends
infolmed witness he had threatened and had, at-
tempted suicide during the past week.
Mr. D'Eyncourt—What can you say to this?
Defendant-1 am sorry, sir ; but I have been
troubled—di.iappoinfment in business and—and—
Mr. D'Eync9urtAnd any love affair ?
Defendant (sorrowfully)—Yes, sir—jealousy.
Mr. D'Eyncourt—lt is fortunate that, at your
age, it is not anything else, for nineteen is too
young to be married. What are you ?" Where do
you live ?
Defendant—l am an artificial flower-maker, sir,
and, reside in Pearson-street-, Kingsland-road.
D'Eyncourt—You have expressed a resolu-
tion to take your life, and I shall now remand you
for a week.

I❑quiries were made outside the court for the
young man's friends, but no one answered.

WESTMINSTER.—Eiza Higgins, a woman
about 25 years of ar, was charged with desertion
of her infant.

Tiddersley, coachman to Count Batthyani,
stated that he was in Hill-street, Knightsbridge,
on his way home, at about half-past 11 on the pre-
vious night, when his attention Was attracted by a
noise something like the mewing of a da,t. As there
was, however, some'hing peculiar about it he
stopped and listened more attentively, when he
thought the cry was that of a child, and on look-
ing over a fence by the way-side, be sttw an infant
lying on the bricks, with nothing on but a night-
gown. Witness callel'a policeman, and the child
was taken to-St. Luke's Workhouse, Chelsea.
A nurse from the workhouse identified the in-
fant as the .prisoner's, who had left the union,-
house with the child-on Tuesday morning.
Robert Wright polic3 sorgeant, 6 .137 said that
from informalion he reieived he apprehended the
prisoner that day in Queen's•street, Chelsea. She
at first went into fits, and then threatened to cut
her throat.

Mr. Poynter baying asked the constable to de-
scribe the place where the child was. found, he re-
plied that it was a place so protected that the pri-
soner could not have climbed over it to deposit the
child on the brickwork wh.-re it was found; but
must have had much difficulty in lowering it there
by its-bedgovvn., which would account for the fact
of the infant having a black eye, by being struck
against
n.
ainst some hard substance. The prisoner, when,
token into custody, was told by him that it was for
leaving her child in the place described. She ad-
mitted the fact.

Tim inmistrate ordered the child, which ap-
peared in a precarious state, to be taken back to
the 'workhouse, aad remanded the prisoner to sce
how the child got on.'

LAMBETII.—A gentleman asked Mr. Elliott's
opmion on the following point. He had 'taken a
season ticket for the Surrey Gardena. That day
week the Music-hall was let to a society for the
promotion of early closing, and applicant and others
found that their season tickets,' which they pre-
sented at the ball, would not procure their admis-
sion. Applicant wished to know whether they
Would be justified in forcing their wzy into the ball

at a concert which was announced, and. for which
the building had been let.
- Mr. Elliott consi fired that the season tickets
gave admission only to such entertainments as were
given by tae proprietors, and not to those Given by
persons who hired the hall, and recommended ap-
plicant not to force his way ia'without good advice.

HAMME R SMITH. —Da iel Brown-was charged
with endeavouring to obtain 2/. by a Pest-office
order under false pretences.
On Tuesday Mary Ann Webber, servant to a
lady residing at Notting-hill, had to cash a Post.
office order for 21. :for her mistress. She put the
order in her purse, and went to King's Collage
Hospital, where she had to see the surgeon. On
coming out of the hospital she found her purse gone.
She gave information of her loss at the Notting-hill
Post-office, where the order was payable. The
next day the prisoner prestmted the order, and was
taken into custody.

Remanded for inquiries to be made at King's
College Ho ,pital.

THE NE.APOLITAA :ARMY.

At Naples and Castellamare there are six foun-
dries for cannon,. an arms factory, four armouries,
of which two at Naples can contain 360,000 mus-
kets, man-of-war building-yards at Citstellamare,
and Hotel des Invalides, an asylum for the widows
Of officers, six military libraries containing 60,000
volumes and 9,000 maps, 14 establishments for ar-
tillery, and 9 for engineers. The kingdom is
divided into two military governments, that of
Naples having seven military divisions, while Sicily
has only three. The troops are raised by conscrip-
tion the levy each year being about 13,000 men ;
Sicily is not subject to the conscription. The
length of service is from five to eight years, aPer
which the so'diers enter the reserve. The general
staff of the army is composed of lieutenant-generals,
.major-generals, and brigadier-generals. The quai-
termaster-general's department is taken from among
regimental officers, who still remain on thestrength
of their regiments. The Gardes du Corps (cavalry)
consist of gentlemen having officers' rank. The
foot guards are composed of non-commissioned
officers of high character, who have served in the
army for 12 years. The officers commanding these
louards are general officers, and the remaining offi-
e,
cers either belong to the staff or have the rank of
captain. The only privilege the guards have is that
of doing duty near the Royal family,-and they re-
ceive a very slight ilicr-!ase of pay.
The royal guard is composed of grenadiers, light
infantry, rifles, artillery, and marines. Tho nu-
merical strength of the army is as follows :