The Sun.
London, England, 1861-03-30 00:00:00

THE WESTERN BANK.

(From the ecotsman.)
There is now, we learn, a probability that f
litigations between the shareholders and the di ;
tors of the late Western Bank will be settled b 1.
compromise. It may at least be taken as certss
that matters have reached a position in which it
rests with the shareholders to say whether they
shall accept a certain sum now, or go on with
the litigations in the hope of obtaining a larger
sum hereafter. The question is at present before
the courts in two shapes, or at least in two dis-
tinct actions—one by the liquidators on behalf
of the whole body of shareholders, against
the whole directors of the Bank in office at any
time from 1847 down to the stoppage ; and the
other Messrs. Inglis and Landale, and others of the
shareholders who purchased subsequent to the issue
of the directors' report of May, 1857, against the
directors in office at that date. On the part of the
directors of 1857—aimed at by the special action of
the purchasers in that year, as well as by the geheral
action of the liquidators—an offer of a certain sum
for an entire release was made a few days ago.
That offer was declined. Subsequently, however,
a suggestion came from a quarter assumed to be
authorised by those parties, that the liquidators
should name a sum which they could recommend
the shareholders to accept. It is understood that
the liquidators thereupon stated that if the directors
of 1857, and all the directors from 1847, with the
exception of Messrs. William and James Baird (who
do not join in any present proposals), should
together offer to pay the sum of £200,000 in full of
all claims against them, both by individual share-
holders and by the general body, the liquidators
would recommend such offer to be accepted. We
do not know in what proportions this sum has been
proposed to be assessed on the different directors
who held office at periods of various date and dura-
tion ; but we assume that that was left for settle-
ment among themselves—and that it has been
settled. Reasons have been given to the liquidators
and the committee of shareholders to believe that
the proposed terms will be accepted by the direc-
tors. The success of the proposed compromise
depends very much upon the parties represented in
the actions carried on in names of Messrs. Inglis
and Landale assenting to the terms suggested by
the liquidators. The case of these parties is in some
respects different, and somewhat more simple than
those of the shareholders who purchased at various
earlier periods ; and in consideration of that and
of other circumstances, the liquidators recommend
that this class should have a certain prefer-
ence. The recommendation, we learn, is to the effect
that the purchasers after the issue of the report of
1857 should receive £2O per share, in addition to
the dividend common to all the shareholders. The
recommendation includes those purchasers of 1857
who are not parties in the actions carried on in
names of Messrs. Inglis and Landale ; but it is in-
tended that these litigants shall also have their
expenses paid, and an enhanced preference in re-
spect of the diligence in the two cases. If the ar-
rangement be adopted, every ordinary shareholder
e., every shareholder who purchased pievious to
the report of 1857) will probably receive at least
£5O per share, of which £25 will be available im-
mediately. In addition to this, there is, of course,
the chance or certainty of whatever sum may be
obtained from Messrs. William and James Baird ;
and we believe that opinions have been obtained
from the highest counsel of the English as well as
of the Scotch bar, that a compromise made with
any one or more of the directors in no way bars or
prejudices the claim against any of the others. The
loss of the shareholders—reckoning the premium
at which most of the purchases were made, as well
as the par price, and the calls since the stoppage—
is estimated, we believe, to average about £2OO per
share.

The following composed the board of directors in
1857 :—Messrs. T. D. Douglas, T. Dunlop, G.
Burns, T. M'Call, T. D. Graham. T. G. Buchanan.
The other directors from 1847 (including the two
Messrs. Baird) are Messrs. J. Burns, J. Bogle (ju-
dicial factor for), J. Douglas (deceased, trustees of),
A. Glasgow and A. Smith. These, of course, are
gentlemen who offer to pay £200,000. It is under-
stood that they have already lost £150,000 in their
capacity of shareholders.
These proposals, if entertained by the individual
litigants whose case is ready for trial, we presume,
will be taken into consideration by the shareholders
at an early meeting ; and tho result, we shou:d
suppose, could not be confidently predicted.
On the one hand the shareholders will be
actuated by the very just conviction that
they are entitled in the circumstances to all they can
possibly obtain, heightened, it may be, by some not
unnatural feeling of resentment ; and on the other
hand, they will have to consider that "money down"
is very attractive, that law is proverbially uncer-
tain, and above all, that, while litigations are sure

to be protracted, no man with such responsibilities
hanging over him is likely to accumulate riches
against the evil day, but, besides the chance of
growing poorer actually, is pretty certain to grow
poorer ostensibly and for_all purposes available to
creditors.

F.ROII TEE GAZETTE OF LAST NIGBT.

WAR-OFFICE, PALL-MALL, MARCH 29.

19th Foot—Major-General Sir Abraham Josias Cloete,
C. 8., to be Colonel, vice Lieutenant-General Sir W.
Rowan, K.C.8., transferred to the 52d Regiment.
52d Foot—Lieutenant-General Sir 'William Rowan, K.C.8.,
from the 19th Foot, to be Colonel, vice General Sir Archi-
bald Maclaine, K.C.8., deceased.
2d Regiment of Life Guards—Frederick Stephens, Gent.,
to be Cornet and Sub-Lieutenant, by purchase, vice
Stewart, promoted.
2d Dragoons—Lieutenant John Stansfeld, from the Ist
Foot, to be Lieutenant, vice Samuel Seggie, who ex-
changes.
4th Light Dragoons—Captain Henry Benjamin Pedder,
from the Tipperary Artillery Militia, to be Cornet, without
purchase, vice Cave-Browne. Cave, appointed to the 9th
Light Dragoons ; Staff Assistant- gurgeon Edwin W ilson
to be Assistant-Surgeon, vice Campbell, appointed to
the 42d Foot. _ _

18th Light Dragoons—Walter Yeldharn, Gent., to be Cor-
net, by purchase, vice Tisdall, promoted.
Military Train—Ensign Christian Fred. Gardner to be
Lieutenant, by purchase, vice Alexander M'Donald, who
retires.

let Regiment of Foot—Lieutenant Samuel Seggie, from
the 2d Dragoons, to be Lieutenant, vice John Stansfeld,
who exchanges.
sth Foot—William Assheton Eardley Wilmot, Gent., to be
Ensign, by purchase, vice James Fergussoß, appointed
to the 73d Foot; Henry Robert William Miles, Gent., to
be Ensign, by purchase, vice Legge, promoted.
9th Foot—Edward John Algernon Smith, Gent., to be
Ensign, by, purchase, vice Arthur Piercy Cosens, ap-
pointed to the Ist West India Regiment.
12th Foot—Ensign Arthur Leroux Whipple to be Lieute-
nant, by purchase, vice Christopher Hodgson, who re-
tires; James Inge Duncan, Gent., to be Ensign, by pur-
chase, vice Latouche, promoted.
15th Foot—William ineas Bury, Gent., to be Ensign,
by purchase, vice Grier, promoted.
17th Foot—Captain Arthur Charles Elliot, from the 94th
Foot, to be Captain, vice Thomas George Brutton Atkin-
son, who exchanges.
21st Foot—Lieutenant Thomas Bunbury Eames, from the
Ist West India Regiment, to be Lieutenant, vice John

Blaksley, who exchanges.
22d Foot—Ensign George Robert Henry Daubeney
to be Lieutenant, by purchase, vice Ernest Theodore

Evans, who retires.
24th Foot—First Lieutenant Thomas Carroll Dempster,
from the Tipperary Artillery Militia' to be Ensign, with-
out purchase, vice Francis Arthur Holmes Yonge, who

resigns.
25th Foot—Richard Thomas Higgins, Gent., to be Ensign,
by purchase, vice Praed Praed, promoted.
33d Foot—Lieutenant Hon. R. H. de Montmorency to be

Captain, by purchase, vice John McKay Mck..enzie,
who retires ; Ensign Frederick Easton to be Lieutenant,
by purchase, vice Hon. R. H. de Montmorency.
42d Foot—Assistant-Surgeon John Charles Campbell,

M.D., from the 4th Light Dragoons, to be Assistant-
Surgeon, vice Maclean, appointed to the Royal Artil-
lery.
43d Foot—Coll McLeod, Gent., to be Ensign, by purchase,
vice Gerald Henry Baird Young, who retires.
49th Foot—Edward Foot Gilbert, Gent., to be Ensign, by
purchase, vice Roberts, promoted in the Ist West India
Regiment.
50th Foot—Lieutenant Robert H. Patrick Doran to be

Captain, by purchase, vice Tillbroa, promoted, by pur-
chase, to au Unattached Majority.
54th Foot—Farrand Haig, Gent., to be Ensign, by pur-
chase, vice Lombard, promoted.
63d Foot—Henry Christopher Beadnell, Gent., to be En-
sign, by purchase, vice Smyth, promoted.
67th Foot—Robert Patch, Gent., to be Ensign, by pur-
chase, vice Fraser, promoted.
75th Foot—Lieut. Godfrey Goodman Mosley, from half-
pay, 7th Foot, to be Lieutenant, vice James Streets, who
retires upon half-pay; Ensign F. Bullen Morris to be
Lieutenant, by purchase, vice Mosley, who retires.
81st Foot—Ensign George Buchanan Bevan to be Lieu-
tenant, by purchase, vice Tristram Charles S. Speedy,
who retires; Ensign Rowland Purdon, from the Kerry
Militia, to be Ensign, by purchase, vice Bevan.
83d Foot—John Olphert Gage, Gent., to be Ensign, by
purchase, vice Edward Meyricke, who retires.
90th Foot—The second Christian name of Lieut. Murray is
Paterson, and not Patterson, as hitherto stated.
92d Foot—Captain and Brevet-Major Edward Eldridge
Haines, to be Major, without purchase, vice Mackenzie,
promoted to an Unattached Lieut.-Colonelcy, without

purchase.
94th Foot—Capt. Thomas George Brutton Atkinson, from
the 17th Foot, to be Captain, vice Arthur Chas. Elliot,
who exchanges.
Ist West India Regiment—Lieutenant John Blaksley,
from the 21st Foot, to bo Lieutenant, vice Thomas Bun-

bury Eames, who exchanges.
Gold Coast Artillery Corps—Francis Charles Gavegan,
Gent:, to be Ensign, without purchase, vice George Kerr
Ross, deceased.
STAFF.—Captain George Bernard Morgan, from Town Ad-
jutant at Gibraltar, to be Town Major of that Garrison.
UNATTACHED.—Captain Philip Limborch Tilibrook, from
the 50th Foot, to be Major, by purchase ; Captain and
Brevet-Colonel Archibald Campbell, half-pay, 2d Ceylon
Regiment, Staff Officer of the Pensioners, to be Major,
without purchase.
BREVET.

Lieutenant-Colonel Edmund Augustus Whitmore, upon
half-pay (Military Secretary to the General Commanding
in Ireland), having, on Feb. 15, 1861, completed five years'
continuous service as Lieutenant-Colonel, to have the rank
of Colonel under the Bth clause of the Royal Warrant.
Captain Richard William Wake, half-pay Royal African
Corps, to be Major in the Army.
Captain and Brevet Major Richard William Wake, half-
pay Royal African Corps, to be Lieutenant-Colonel in the
Arm.
Captain Francis Pitts, half-pay Unattached, to be Major
in the Army.
Captain and Brevet-Major Francis Pitts, half-pay, Un-
attached, to be Lieutenant-Colonel in the Army.
Paymaster Duncan Cameron M'Naughten, 13th Foot, to
have the honorary rank of Captain under the Royal War-
rant of 27th January.
The undermentioned promotions to take place conse-
quent on the death of General Henry James Riddell,
Colonel of the 6th Foot, on the Bth March, 1861

Lieutenant-General Peter Augustus Lat Our, Colo-
nel of the 3d Light Dragoons, to be General.
Major-General William Cowper Coles, Lieutenant• Co.
lonel, on half-pay Unattached, to have the rank of Lieu
tenant .General.

Major-General John Eden, C. 8,, Colonel of the 34th
Foot, to be Lieutenant-General.
Brevet-Colonel John Crofton, from Lieutenant-Colonel,
half-pay Unattached, Assistant Military Superintendent
of Pensioners, to be Major-General.
Brevet-Lieutenant-Colonel Edward W. C. Wright,
Major of a Depot Battalion, to be Colonel.
Brevet-Major James William Graves, Captain, half-pay
Unattached Staff Officer of Pensioners, to be Lieutenant-
Colonel.
Captain George Dean Pitt, 80th Foot, District Inspector
of Musketry, to be Major.
The undermentioned promotions to take place consequent
on the death of General Sir Archibald Maclaine, K.C.8.,
Colonel of the 52d Foot, on the 9th March, 1861:
Lieutenant-General Sir De Lacy Evans, G.C.8., Colonel
of the 21st Foot, to be General.
Major-General the Hon. Charles Grey, Colonel of the
3d Foot, to be Lieutenant-General.
Brevet-Colonel John Grattan, C. 8., from Lieutenant-
Colonel, half-pay, 18th Foo , to be Major-General.
Lieutenant-Colonel Lord Alexander George Russell,
Rifle Brigade, to be Colonel.
Major Demetrius Wyndham Grevis James, 2d Foot, to
be Lieutenant-Colonel.

Captain John Vizo O'Donnell, 27th Regiment, to be
Major.
The undormentioned promotions to take place consequent
on the death 9f Lieut.. General Sir Lovell Benjamin Lovell,
K.C.8.. Colonel of the 12th Light Dragoons, on the 11th
March, -1861:
Major General William Lennox Lascelles Fitz Gerald
Lord de Ros, Deputy Lieutenant of the Tower, to be Lieu-
ten ant- General.
Brevet-Colonel the Hon. James Lindsay, from Lieut.-
Colonel of the Ist or Grenadier Regiment of Foot Guards,
to be Major-General.
Brevet-Lieut.-Colonel George Anthony Leaton Blenkin-
sopp, Captain 45th Foot, to be Colonel.
Major John James Grant, Royal Newfoundland Com-
panies, to be Lieutenant-Colonel.
Captain Edward Bowen, 69th Foot, to be Major.
The following promotions to take place in her Majesty's
Indian Military Forces consequent on the deaths of—
General James Welsh, Madras Infantry, on the 24th
January, 1861;
General Alexander Fair, C. 8., Madras Infantry, on the
29th January, 1861;
Major• General William John Gairdner, C. 8., Bengal
Infantry, on the 3d February, 1861;
General Peter Delamotte, C. 8., Bombay Cavalry, on the
sth February, 1861; and
General Jerry Francis Dyson, Bombay Infantry, on the
20th February, 1861 '

Commissions, under the conditions of the Horse Guards,
Circular Memorandum of February the 15th, 1861:—
Captain and Brevet-Major 1, enry J. Coote, half-pay,
18th Foot. _ .

Captain Richard Wm. Wake, half-pay, Royal African
Corps.
Captain Francis Pitts, half-pay, Unattached.

BANKRUPTS.
Christopher Walker, smallware manufacturer, blanches -
ter, to surrender April 17 and May 1, at twelve, at the
Manchester District Court.
Samuel Dei:: hton, draper, Preston, April 11 and May 2,
at twelve, at the Manchester District Court.
James Hayden Gates, builder, Manor-street, Clapham,
April 5, at eleven, and May 9, at two, at the Court of Bank-
ruptcy.
William Craft, baker, Maidstone, April 11, at half-past
twelve, and May 10 at eleven, at the Court of Bankruptcy.
William James Dalton, builder, Balham Hill, Surrey,
April 8 and ‘' ay 13, at twelve, at the Cou, tof Bankruptcy.
Philemon Rolfe, chemist, ravesend, April 8, at eleven,
and May 6, at one, at the Court of Bankruptcy.
Benjamin Carman and Robert Bailey, cabinetmakers,
Harwich, April 10, at half past two, and May 14, at half-
past twelve, at the Court of Bankruptcy.
William Probert, hop dealer, Worcester, April 11 and
May 2, at eleven, at the Birmingham District Court.
James Cowton, fruiterer, Birmingham, April 11 and May
2, at eleven, at the Birmingham District Court.
Thomas Retaken, grocer, Swansea, April 8 and May 7,
at eleven, at the Bristol District Court.
William Thomas, innkeeper, Llantarnum, Monmouth-
shire, April 9 and May 7, at eleven, at the Bristol District
Court.
Benjamin Garfit Bottomley, ironmonger, Devonport,
April 8 and May 6, at half-past twelve, at the District
Court, Plymouth.
George Griffin, grocer, 'Walsall, April 4 and 25, at eleven,
at the Birmingham District Court.
Joseph William Adlington, iron master, Oldbury, Wor-
cestershire, April 11 and May 2, at eleven, at the Birming-
ham District Court.

George Drake, leather dresser, Saint Thomas's, Devon-
shire, April 10, at one, and May 8, at twelve, at the Exeter
District Court.
William Skinner, innkeeper, Redcar, Yorkshire, April
16, and May 6, at eleven, at the Leeds District Court.
Anthony Burton, grocer, Sheffield, April 13 and May 4,
at ten, at the Council-hall, Sheffield.
John Davis, manufacturer, Manchester, April 10 and 30,
at twelve, at the Manchester District Court.
John Fowler, sharebroker, Whitehaven, April 9, at
twelve, and May 14, at one, at the Newcastle-upon-TyLe
District Court.

SCOTCH BANKRUPTS.
• George Husband Baird Brock, miller, Muiravonside,
Stirling.
. _ _

Henry Antlett, wine merchant, Dundee.
William. Davidson, grocer, Leith.
Charles M'Laren, zinc and glass merchant, Glasgow.
James Penny, grocer, Dundee.
James Mullin, auctioneer and valuator, Glasgow.
James Tait, plasterer, Edinburgh.