The Sun.
London, England, 1857-03-04 00:00:00

THE ROYAL BRITISH BANK.

Last evening a meeting of the creditors and depositcra
opposed to the prajected compromise, was held.' at
Evans's Hotel, Covent garden. The meeting was nu•
meronsly attended, and Dr. J. G. Wakley was voted to
the chair.

The CHAIRMAN said the object of the meeting bad
been put forth by an advertisement. Tho meeting was
caused by the proposal to submit a resolution by certain
members of the committee at the meeting to be hell to.
morrow (rhis) evening. Through circumstances that
occurred at many meetings of the depositors' committee,
he had been compelled to band in his resignation.
Shorty after the affairs went into bankruptcy, a meeting
of the depositors was called. About three days after a
letter to that effect was forwarded by Mr. Linkl der to
arrange a compromise with the shareholders—the pay-
ment of 208. in the pound never having been mentioned.
At that meeting be strongly opposed any compromise,
considering that when the affairs went into bankruptcy
the whole amount would be paid, and that the directors
and shareholders would be publicly examined ; but Mr.
Linklater applied to the court that they should be heard
in private. This he objected to, and in consequence the
resolution was put off to a future period. It; was said
that the shareholders were willing to pay down 20,000/,
as a guarantee for 200:0001., which would pay 163. 6d.
in the pound. It was proposed that they should see the
shareholders, and see what would be done. He did not
see them, because bethought from the beginning they
should all have the full amount of their money returned
At a recent committee meeting Mr. Linklater read the
draft of a bill compelling the depositors to take wbat
the majority might think proper, and a resolution to
the effect that the bill should be brought into Parlia-
ment. It was next said that 15s. in the pound would
be taken if the shareholders offered it. He asked if the
shareholders had subscribed the 20,0001., and he was
told that not more than 7,0001. had been subscribed ;
but at the same tinie he did not know what amount,
had since been plaid. A resolution in favour of
the bill was passed at the committee, and he there-
fore resigned his seat, at the board. The resolution to be
proposed at the Freemasons' Tavern meeting would call
on the depositors to be satisfied with the 14s. or 15s. in
the pound. And Mr. Linklater had said he imagined
that 49 out of every 50 would be favourable. For him-
self he should adviati them not to take any compromise,
for he believed there were several wealthy shareholders
whe could well afford to pay. He trusted they would
support the resolution that would be submitted tothem,
for the proposed cote promise would overthrow the whole
body of them.
Mr. LONDON here expressed an opinion that some fa-
vour had been sho•Nn to certain creditors by the share-
holders.
Mr. HALL the a moved the following resolutions,
" That the folio wing resolution be proposed a, an
amendment to the resolution that a compromise be con-
cluded between the shareholders and depositors in the
Royal British Ban k in the circular letter of Messrs.
Linklater of the 213th ult., " That this meeting is of
opinion that it is not expedient to accept any off. rof a
composition frora th e shareholders of the Royal British
Bank until an officis d statement has been laid before the
depositors of the actinal pecuniary resources of the share-
holders, nor witbo at receiving the most ample and sa-
tisfactory security f .1. the payment of any composition
should any offer frot n the shareholders to that effect be
accepted by this m eeting."
Mr. DWYER seco.nded the motion.
Mr. WYLD (the chairman of the committee of proprie-
tors) said he thought the more the question was dis-
cussed the better, because if Dr. Wak ley knew any bet-
ter plan than that ti ) be proposed at the ensuing meeting,
he would be happy t o accept it. It was all very well to say
more could be obtained, but he, as one of the assignees,
should be happy to hear how 20s. in the pound could be
obtained. He confea sed he saw no chance of it, and he had
formed thia opinion on a very careful inquiry. As to the
private examination, he vindicated the conduct of Mr.
Linklater, contending that to have them publicly
examined it would ruin , many of the shareholders
whose credit was otherwise good. The act to be
introduced was one similar to that in the case of the
a otherh bayutLhoorrid.
ties.
Tipperary Bank, and he contended that it was for the
general goocliraßn.dßetthheal, principlend was eingdhor legalsed
In Brougham,a snswer to several questions, Mr. Wyld said be
could not say whether the shareholders were able to pay
deprecated the conduct of
He alluded to those who had egceeseenrrtetareiandl
committee f
theof
confidence depositors,
oafntdhe
the
mr. wholes mcltAi;T amount.
body of depositors.
shareholders.
com-
menced individual actions against
members
btheregy ofw etrheeunworthy o
The CHAIRMAN said that no doubt from what bad
transpired, the depositors would hesitate before putting
After some further discussion,
their hands to a coopromiso.
nireowl
Y.
hand rman, the meeting
Thanks were votrd to the c
The motion was carried una
separated.

---
In the general business of tl:e port of London during
the past week there bag been increased activity. The
number of ships reported inward was 144, including 12
with cargoes of sugar, 10 of corn, in addition to 11,000
barrels of flour, and 1 of tea, comprising 21,457 packages,
the greater portion of which are chests. The number of
vessels cleared outward was 131, including 14 in ballast.
The total number of ships on the berth Irading for the
Australian colonies is 59, being 8 lees than at the last
account. Of these G are for Adelaide, 3 for Geelong
_ for Hobart Town 2 for Launceston, 4 for Meii
for New Zealand, 15 for Port Philip. I
Bay, 15 for Sydney, and 1 for Swii-

—Ltourne
ror NAlnc
itivere