The Sun.
London, England, 1857-09-14 00:00:00

LONDOT-Z, MONDAY _EVENING, SEP I'EM.IIII,II, 14,

BANK of ENGLAND, I.oth SEPT., 1857.—
The Court of Directors of the Governor and Company of the
bank of Er.gland give Notice, 'That a GENERAL COURT will be
held at the Bank on THURSDAY next, the 17th instant, at Twelve
o'clock precisely, to consider of a Dividend. This will also be one
of the Quarterly Genera' Courts appointed by-the Charter.
JOHN BENTLEY, Secretary.

arrived at Callao on the Gth, and the Magicienne
sailed on the 7th for for Paita and Panama.

During the month of July 60 ships, with an ag,
gregate tonnage of 4.7,369 ten 3 register, loaded at
the Chineha Islands with guano—viz., 43 vessels
of 34,302 tons, for England; 4 of 3,755 tons; for
the United States ; and 13 of 9,303 tons, for France.

_ .
•
CALIFORNIA.
The steam-ship Golden Age, from San Francisco
August 5, arrived at Panama August 19, with
about 500 passengers. There is but little news by
this arrival.
Several conflagrations
,had occurred during the
fortnight in the towns in the interior of the State.
On the 25th of July the town of S. Louis (Sierra
county) was almost entirely destroyed by fire. On
the 22d of July a fire broke out at Michigan 814
(Placer county), destroying 67 buildings.
The adoption of the State Debt (declared illegal)
by popular vote at the coming election seemed to
meet with little Opposition.
Polities had been the all-absorbing topics in this
State. The American party had a set of candidates
in the field for all the Stae offices. It was as fol-
lows :—For Governor, G. -W. Bowie, of Sa.cra-
mento ; Lieutenant-Governor J. A. Raymond, of
Shasta ; Controller, G. W. Whitman, of Tuolumne ;
Attorney-General T B. McFarland, of Nevada ;
Surveyor-General, L. B. Healy, of Santa Clara ;
State Priuter, B. H. Monson, of San Francisco;
Treasurer, J. C. Crandall, of ' Placer; Judge of
Supremo Court, IL Ralston, of Sacramento.

THE-- Wi ST 1115 IA HAIL.

oany's steamship Atrato,
Southampton yesterday
West India and Pacific
Lloyd, RN., Admiralty

The Royal Mail Com
Capt. Woolley, arrived al
at 5.30 with the
mails, in charge of Li ,nt.
agent. Her dates were
Nassau (Bahama) Aug. 13.
Beliza (Efonduraa) 17
Puerto Cabello -- 20
Greytown (Mos-
quito
Carthagena
Colon — 23
Jamica . 26
Hayti
San Juan (Porto
Rieo) — 30
Berbice
Demerara — 25
Tobago — 25
Port of Spain
(Triui.lad) - 25
She 11so brings mails of the subjoined dates from
the west coast of South America, received at Pa-

Bridgetown (Bar-
batioes
Grenada ......
Ste. Vincent's — 26
St. Lucie
Martinique - 28
Guadeloupe
Dominique
Antigua — 28
Montserrat
Nevi' — 29
St. Kitt's - 29
Tortola
St. Thomas's — 31
La Guyara

••
nama by the steam ship New Granada :—Valpa, •
misc.. July 31; Arica, August 3 ; Callao and Lima,
12 ; Panama, 23.
The Atrato experienced fine weather throughout
the voyage, with head winds, up to the 10th inst.,
since which she hag had_ winds from the north and
north-east. She brings 66 passenger..., including
the ninst,l., first and second mates, and 10 passen-
gi,re of the American ship Harkaway, burnt at sea.
On freight the Atrato his 871,252 dole. in specie,
of which 420,837 dols. is in silver and 450,415 dols.
in gold • jewellery . value 5001. sterling ; watches
value Oil. los. ; copper coin value 801. ; and a
cargo con-istiner of 16.1 serous of cochineal, 149
serous of bark, 12 serous of skins, 48 bags of cocoa,
194 b des' of tobacco, 16 packages of coffee, 6 bales
of sarsaparillg, 7 casks of beeSwax, 18 packages of
hat 4, 10 cases of tortoiseshell, and 70 packages of
sundries.

On the Ist instant, died on board the Atrato,
aged 59 years, Mr. William Davies, of Dominica,
a large landedpropr:etor, and a member of the
Executive Council of that island ; the deceased had
been a resident of many years at Dominica, and
was much respected there.
Our files from Jamaica extend to the 27th ult.,
tbo day on which the steamer left. The Legisla-
ture was not in session, and would not be before
the usual time in October. The Executive Com-
mittee had been very assiduous in their -delibera-
tiohs as to what measures it may be expedient to
introduce when the Legislature meets. Fever was
very prevalent, but mortality slight. The island
was very quiet, and trade generally dull, but mining
operations- wore very encouraging.
Fr mi Da Cordova's Mercantile Intelligences of
the latest date we learn. that sugar was scarce, and
sal es of fine quality haajA,o,4 made At 325. per -100 lb.
Sales had been reported of a few barrels of alewives
from the: nortliside at 20s. Gd. per barrel. Irish
butter, ex Sea Rover had been sold at 14/d. to
15d. per .lb. ; all the late receipts of American had
been taken at Is. Since last mail there had been
almost an entire cessation of business ; the market
was bare of many articles, and prices had generally
declined. Last arrivals of flour were held at 42a. ;
hams at 7d. to '9d., according to quality. Mess
pork had been sold at 1265., but that price could
not be r at latest dates. The mining inte-
rests of the island Were looking up, Cordova re-
porting a recent purchase of 3,000 shares of the
.Elleribe and Bardowie Company at 10s. (par value)
part of which the purchaser had, received an offer
for at an advance. Applications for 800 further
shares had been declined by the company. It was
expected that this mine would be one of the earliest
to yield a dividenl. Exchange ou London, Go-
vernment bills, 30 days, per cent. premium.
Jamaica and colonial banks, 90 days, 1 per cent.
Premium ;60 days, per cent. premium '• 30 days,
per`..)ar. On Nev yo
cent. premium.l rk; 60 days,mer.chants' bills, 90 days,
13- per cent. prem.,
merchants' bills.
From Demerara, we learn that the Court of Policy
had met twice since the last mail, and had taken
under consideration the proclamation for the for-
mation of divisions and. the distribution of arms
under the Estates' Arms Ordinance, which had
recently come into operation. Tile proposed mea-
sure was looked upon favourably, if carried out
with firmness. Mr. A. W. Perot had been unani-
moldy re-elected Mayor of Georgetown. Several
of the persons, men and women, implicated in the
outrage upon the Governo: and Mrs. Wodehouse
on their late departure from the colony had been
arrested, and liberated on bail, t) take their trials
at the next session of the Supreme Court for riot.
The - Hon. W. 13. Wolz.eley, Acting Government
Secretary, and hi; lady left for England by the
present packet, of er a residence of over 21 years,
during which the hon. gentleman gained the respect'
and goodwill of all classes. Mr. A. F. Gore, the-
Ac lug Assistant Government Secretary, also left
by this packet on leave of absence. The weather
during the fortnight had been wet, and thunder-
storms frequent. The planters • wore anxiously
looking for dry weather.. Business was dull,
freight scarce, and tonnage abundant. On the'
subject of the gold discoveries; the Royal GazAte
of the 25th ult. says :
" The gold mines at Upata are still the engross-
ing theme in the colony. Many parties are anxious
to try their fortune at the diggings ; but in the
meantime they are prudently waiting until a direct
route is opened' up hence to the mines. A com-
mis=ion; consisting of Sir W. H. Holmes, the Hon.
Dr. Blair, Mr. W. H. Campbell, Mr. IVi‘ClintOck,
and other gentlemen, will start for the diggings
to-morrow. They will proceed hence to the Warina,
and, after ascending that river as far as it is navig-
able, will strike across the country to the Cuyuni,
and proceed thence to the gold mines on the
Yurnari. They will endeavour to find out traces
of gold in the country as they pass along, and will
astertain the exact locality of the present diggings,
and whether they are on the British or on the
Venezuelan territory. It is supposed that their
journey' will occupy them about two months.
Thera is every reason to 'believe that the country
through which they propose to travel will be found
to be rich in auriferous wealth. Their course will
lie through the very tract of country in which the
old Dutch geographers placed the Lake Parima,
supposed to be the site of Sir Walter Raleigh's
famous- El Dorado. A great deal of interest at-
tacheS to this expedition, and it is possible that it
may-throw much light upon some dark passages in
the his'ory of that gifted but unfortunate man."
At Trinidad every hope existed of the projected
railway being constructed. The estimates and plans
were being matured. There had been heavy and
frequent rains during the fortnight, and the wea-
ther was ou the whole favourable for cane cultiva-
tion.in produce. Very little
au
sugar cNototltdhing
ba to
at:der rthist fall, and only a small
quantity of cocoa was coming forward. Breadstuffa
and provisions had met a ready sale at remunerat-
ing prices. Demand for fresh flour was still good,
and the old stock nearly all uS.:,(I up. Codfish con-
tinued in demand, at higher rates.
T-he Grenada Legislature had continued in ses-
sion during the fortnight, but nothing of import-
ance was transacted. The we Alter was favourable
for the planters, and trade maintained average ac-
tivity. The health of the iehnd was good.
The news from the other islands is unimportant.

SHIPPING INTELLIGENCE.
Her Maje3ty's ship Brunswick, Captain Broad-
head, arrived at Barbadoes on the 17th of August,
and sailed on the 20th for Colon; all well.
Her Majesty's ship Brilliant was at Grenada, re-

fitting during the hurricane se4soll- ellow fever
had broken out on board, and she had lost five
kt, ads. The master,' Mr. Wise, was the only ofli-
&r. attacked, and he was rapidly recovering.
Her Majesty's ship Tartar, at Grey-town.
Her Majesty's ship Imaum, at Port Roy;al.
Her Majesty's ship Retribution. arrived at Callao
on the 6th of August.
Her Majesty's ship Magicienne sailed on the 7th
of August for Panama.
The Atra'o spoke the following- ships :—Sept.
10, 7 45 a.m., hailed by the English hark Sarah
and Dorothy, of Newcastle, stating she had ;some
shipwrecked people on board ; sent cutter to her,
and received on board the master, George Thomp-
son, the first and second mates, and- 10 passengers
belonging . to the American ship Harklway,- of
Charleston, -Sept 10, 5 p.m., in lit. 47 3 N., long.
22 42 W.., passed and exithapgetl. signals with
the English brig Euxine, .steerinp• to the.eatwara.
September 12, iu lat. 40.30 -14:, long. 10'35 W.,
passed the English ship Anglo-Saxon, steering to
the N.B. September 13, :10 a.m., passed the
screw steamer Calcutta, steering E. The.rdlowing
vessels were spoken by the abovena,med ship Hark-
away:—August 26, 4 p.m., in .;lat. 42.12 N., long.
40.21 W.,...epoke the bark Tryphena, from Deinei
rare for London. August 28, 3 pan. in lat. 45.31
N., long. 32.40 W., spoke the btrk Roslin Castle,
from Plymouth for Quebec, 15 days:mit ; also the
bark Henry Duncan, wishing to 433 teported.

THE RECENT GREAT BANK FAILURES.

00NDON AND EASTERN BANKING • con-
PORATION, 'ROYAL BRITIST AND Trl)-
PERARY BANKS..

On.Satiarday a meeting was advertised to take
place at the chambers of Vice-Chancellor Sir Wil-
liam Page Wood, for the purpose of hearing all
pariies on the petition presented for the dissolution
and wi—ding-up of the I.6ndon and Eastern Bank-
ing Corporation ; but it appears that, to suit the
convenience of all parties. the heating of the peti
flint, has been adjourned to Monday, 21st inst.,
when it will come before Vice-Chancellor Wood

specially at Ipswich.
It may be mentioned that this is the first case of
the kind where a company formed for commercial
purposes in British India has been brought under
the operation of the English winding-up raw, and
a question is likely to be raised as tl whether a
company constituted for trid.ing .purposes in India
is amenable to the Joint Stock Gempanies Wind-
ing-up Act, although th,a act contai 1,1 3 a .proviSo
that every trading corporation, whose place of busi-
ness is in .the British dominions, comes within its
scope ; albeit its business is conducted in any 'of
our territories abroad. The places of buiness of
the London and Eastern Banking Corporation were
as follows : Council-street, Calcutta ; Forbes-
street, Bombay ; Cannon-street; London ; WeA,
bourne-terrace ; 20, Pall-mall, and 44; Mark4ane.
The corporation, as it appears from the official list
of shatehOldersAeonsis.ed of 93 proprietors. Of this
number no fewer than 27 were majors and
lieutenant-colonels in the East India Onnpauy's
service, resident at home and abroad ; 20 native
merchants, two local judges, and the remainder
(between 30 and 40) resident in England and India.
It will be necessary, as there are so many share
holders resident in India, to appoint a winding-41p
agency in that country, in connection with the one
in this, Whi.3ll will tend to increase the expense and
inconvenience in connection with the winding-Up.
Should the Vice-Chanc:llor issue an order de lar-
_

•
ing thA the corporation ig to be wound up in Chan-.
cery, that operation will in all probability ba con-
ducted by Mr. R. P. Harding, who has had the
carriage, under similar circuuistances, of the affiir3
of the Royal British Bank. .It has been suggested
that the affairs of the London and Eastern Banking

Corporation should be thrown into bankrupt.cy,
and if this were to be done, there would be a repeti-
tion of precisely the same Unseemly collision be-
tween the jurisdiction of the Courts of Chancery
and Bankruptcy that occurred in the case of the
Royal British Bank, thereby doubling the costs of
winding-up, to be paid by the unfortunate share-
holders, to the advantage wholly and solely of the
lawyers concerned. '.
The following circular has been issued to the
shareholders during the past week by certain soli-
citors : _ _

vyVv~"
25, Throgtnorton•street, London, Sept,. 4, 1857.
" Sir,—You will doubtless have been informed by the
publ c papers that a petition fhas been presented to the
of_ Chancery for the Winding-up of the affairs of
London and Eastern Banking Corporation.
" We "are informed that this step lia4 been taken from
a strong conviction that is the only couroe by which the
shareholders can have justice dos 3 to then, and by which
they can secure an equal contribution towards the
liabilities, and a strict and impartial investigation into
the transactions of the directors which have brought the
bank to its present position.
" Wehave long since been instructed by the agents of
several shareholders resident abroad, to adopt active
measures to protect their interests ; and although we-did
not think it expedient to allow our clients to be the
petitioners to the Court of Ch'incery, we are nevertliklass
fully satisfied that a step in the right direction has been
taken. _ _ _

" Experience has taught us that it would .be impossible
to obtain an. equal voluntary contri billion from a large
body of shareholders; that the only result of such -an
attempt would be to ,throw the whole of the liabilities
upon the shareholders; and that without the coercion of
the Court of Chancery, a large number would altogether
escape from contributing. Tue effect of such an attempt
would be to extract forthwith from the pockets of the
willing shareholders heavy calls on their shares, leaving

_ .
them at the same time still exposed t) legal proceedings
on the part of the creditors, and with the certain pros-
pect that after all they would be driven into the Court
of ' Chancery, to obtain an equal and. juet c3ntry
bution. from those who woahl' otherwise avoid

making any payment. Without the aid of the
strong arm of the law, it wouli by impossible t
obtain a strict and searching inveatigation into the trans-
actions of those by whom the affairs of the bank have
been conducted, and if it should lie dkcovered, as there •
is gi.eat reason to suspect, that the funds of the bank have
been irregularly dealt with, it is only by aid of the Court
of Chancery that the shareholders can caeup4l the persons
responsible for such transaction', to refund any monies
improperly applied, and prevent the w:mle of the heavy
liabilities of the bank from falling on the innocent share-
hel ler&
"Upon an order being made for the dissolue ion and
winding up of the bank, we think that the shareholders
will be best protected by appointing independent gentle-
men as official managers?'
On Saturday it was understood that another direc-
tor, a large shareholder, is absent. It is stated on
the one hand that the bank is only carrying on bu-
siness nominally in Threadneedle-strew, where the
London offices have been removed, and on the other
that it is transacting no business whatever beyond
that of preparing itself to be wound up. It is stated
that the bank has hitherto been receiving pecuniary
assistance from the Oriental Bank on certain term',
but that, in consequence of the improbability of the
calls being responded to, and the non-realis ►tion of
the securities, the Oriental Bank now besitaee to
render further assistance.. _lt is rumoured that it
was at one time in contemplation by the Oriental
Bank to purchase the
.business of the London and
Eastern, and the circumstance of their rendering
this assistance somewhat favours the assumption as
to this being the ulterior object intended. Some of
the shareholders, it is said, have given promissory
notes in payment of calls, but it is questionable
whether, when the t'me comes, if these notes will
be honoured. The liabilities, as far as can yet be
ascertained, amount to about a quarter of a million,
exclusive of securities.

THE ROYAL BRITISH BANK.
As regards the present position of matters in the
Royal British Bank, it. is understood that all re-
quisite exertions are being used in carrying out
amicable conferences with the unfortunate share-
holden in preference to resorting to vexatious and
ruinous litigation. A vast amount of interJommuni-
cation and correspondence is going on between them
and the official manager of the Court of Chancery,
Mr. P. Harding, relative to the amount they can
contribute towards defraying the liabilities of the
bank, and in many cases the assistance of friends
has been sought to enable them to make some kind
of contribution. These compromises are being
carried out under the immediate direction of Vice-
Chancellor Sir T. Kindersley. The liability of
those shareholders who took shares after the sup-
plemental charter was obtained, -being supposed to
be governed by the decision of the court in Brock-
well's case, which inleffect relieves nearly one-half of
the responsible shareholders, and appears' to give
them the right to claim. their money back again,
will, it is understood, be taken on appeal to the
House of Lords by the other' half of the share-
holders. "It is manifestly of importance that the
law of such a state of things should be formally
settled, since, under the present decision, it is in
the power of shareholders who may have received
dividends on their shares to say they were
induced by fraud to_take those shares, and if so,
many shareholders in other abortive companies will
be able, while receiving dividends, to repudiate
their liabilities to contribute to the Josses. Al-
though under the act pr aced last session, which gave
shareholders abroad the liberty to return and enter
into compromise, it is stated that a large !lumber