The Sun.
London, England, 1857-01-26 00:00:00

MAPA,KET NEWT .--(T; Oay

CORN EXCHANGE.

The supplies of wheat on sale in most of the country
markets held on Saturday were only moderate, yet the
trade was in a depressed state, at drooping currencies.
Barley moved off slowly, and prices had a downward ten-
dency. All other articles were heavy.
continentalflours were advices bring rather heavy markets
for produce. From America we learn that both grain and
very dull.

The arrivals of English grain up to our market last week
were only moderate. From abroad we received 14,951 qrs
of wheat, 14,079 barley, 5,345 oats, 5,287 beans. 935 peas,
100 tares, 3,845 linseed, 761 rapeseed, 635 sundry seeds,
400 sacks, and 23,142 barrels of flour.

The quantity of English wheat received fresh up, to-day,
coastwise and by land carriage, was limited, and in poor
condition. Notwithstanding that the show of samples of
both red and white was small, the demand for all kinds
was dull in the extreme; indeed, scarcely any business
resulted, and prices were nominally 4s to 5s per quarter
lower than on Monday last. None of the millers showed
the least inclination to purchase, although they hold very
small stocks.

We were well supplied with foreign wheat, fresh as well
as ex granary. The trade ruled heavy, and scarcely any
sales were reported, although importers were sellers at
fully 3s. per quarter less money than on this day se'nnight.
Floating cargoes of grain were dull, and rather drooping.
The show of both English and foreign barley was on the
increase, and the barley trade was very dull, at 2s to 3s
per quarter less money.
There was a very slow sale of malt, at barely late rates.
Good sound oats supported last week's quotations, but
inferior parcels met a slow inquiry.
In beans, the show of which was on the increase, very
little was doing, at fully is per quarter decline.
Peas moved off slowly, at is per quarter less money.
The flour trade was very dull, at 2s per sack and barrel
beneath last week's prices.

Malt—Chevaller •• •• 76s to 79s
Oats Yorkshire and
Liticolnsk.,Feed 21s 25s
Potato. • . 253 32s
Youghal and Cork
Black. ...... 193 22,
Cork, White ..... 21s 26s
Bootch, Feed. 26s 29s
Beans—Tick 31s 353
Pigeons .... 40: 42:
Peas—Grey 36s 39s
Maple ......... 403 41s
White.— 38s 403
Boilers •... 40s 423
Flour—Town-made... 58s fiOs
Suffolk . •• 41s 433
iitocktn & Norfolk 41s 43s
k.TTLE MARKET.

CURRENCY PER IMPERIAL MEASURE.
Wheat—Essex ft Kent,
Red •• .• new 538 to 64a
.... old —s —a
Ditto, White new 553 728
Ditt0........ old —s —s
Norfolk and Lin-
coln, Red, old —s —a
Ditto new •••••• b2s 63s
Rye—Old ............ —s —s
Now .... •• 38s 42s
Barley—Grinding..• .. 318 33e
Malting .•• .• 36s 383
Chevalier.. .• • • 403 505
Malt—SefolkandNor-
-678 778
loan ............... 63a 61s
KingstoaandWare 76s 783
METROPOLITAN O.

Only moderate supplies of foreign stock arrived in the
metropolis last week—the total import being 1,011 head.
In the corresponding week in 1856 we reoeived 710; in
1855, 1,407 ; in 1854,1,899 ; in 1853, 3,219 ; in 1852, 2,446;
and in 1851, 2,651 head.

IMPORTS INTO LONDON LAST WEER.
From Beasts. Sheep. Lambs. Calves. Pigs.
Rotterdam 103 307 ... ••• 121
Harlingen ... 405 ...
Antwerp lO
Ostend
Schiedam

3 ... -

T0ta1.... 377 ... 644 216 ...
The yearly comparison of wookly imports is as follows :
Boasts. Sheep. Lambs. Calves. Pigs
1858 527 42 141
1855 Bl9 517
1854 B5l 747 ...

1853 556 ~„ 2,2:32 ,„

1852 64C; ... 1,477 -.

275

... 428

... 321 ...

The show of foreign stock here to-day was limited as to
number, and in very middling condition.
For the time of year the arrivals of beasts fresh up from
our own grazing districts, as well as from Scotland, were
moderately good, and of full average weight. All breeds
met a slow inquiry, at last Monday's decline in the quota-
tions, the top figure for Scots being 5s per 81bs. From
Norfolk, Suff. dk, Essex, and Cambridgeshire we received
about 2,000 Scots and shorthorns ; from other parts of
England, 400 of various breeds ; from Scotland, 500 Scots ;
and from Ireland, 150 oxen.

We were again very scantily supplied with sheep, but
their quality was extremely good. All breeds were in
active request, at very full prices, the primest old Downs
being worth 5s 6d per Sibs.
Very few calves were in the market, and the veal trade
ruled brisk, at very full prices. The best voal was worth
61 per Sibs.

Pigs were in moderate supply and fair request, at last
week's prices.

Per Bibs to sink the offal'.
s. d. s. d.I e. d. e.
Inferior Beasts.... 3 4to 3 6PrimeSouthdown 5 4 5 6
Seesnd quality.... 3 8 4 OlLarge erse. calves 4 4 5 6
Prime large oxen 4 2 4 &Prime small do 5 II 6 0
Prime Scots, dm 410 5 ®;Largo hogs
Inferior Sheep ...4 0 4 4 Small porkers 4 6 5 2
lecond quality ...4 6 410 Suckling ealves 23 0 30 0
?rime erse.-wlled.s 0 5 2,quarter old pigs 22 0 28 0
TOTAL SUPPLY. FOREIGN SUPPLY.
Boasts .. •. • • ...... 3,778 Beasts . 310
Sheep . .. • .16,590 ( Sheep
Calves .•• ..•• •• •• •• .. 111 • 54

A statement and comparison of the supplies and prices of fat
stock exhibited and sold in the Great Metropolitan Cattle
Market, on Monday, Jan. 28, 1856, and this day, Monday,
Jau. 26, 1857._

Por Ms, to sink the offais.
Jan. 28, 1556.
s. d. s. d.
Coarse and inferior beasts 3 2to 3 4
Second quality ditto 3 6 310
Primo large oxen ... ... 4 0 4 6
Prime Scots, dte „, 4 S 410
Coarso and inferior sheep .., 3 2 3 6
Second quality ditto ... 3 $ 4 0
Prime coarse woolled ditto ... 4 2 ,4 0
Prime Southdown ditto 4 $ 6 0
Lambs ~. 0 0 0 0
Largo coarse calves 4 8 5 4
Prime small ditto 5 6 6
Largo hogs ~, „, „, 3 8 4 E
Neat small porkers „. 4 4 5
Beasts... 3,040
Sheep 15,770
Calves.— ..• 56
Smnuss ON SAT A, Jan. 29, 1855.—Beasts,
15,570 ; calves, 79'; pigs, 205.
January 30, Ml.—Beasts, 4,141; sheep, 15
61 ; pigs, 214.

Jan. 26, 1857
s. d. g, d.
i 3 4to 3 6
38 4 0
44 4 •
510 5 0
4• 4 4
4 6 410
5• 5 2
54 5 6
00 • 0
44 5 6
5S 6 0
4 4
46 5 2
3,778
16,590
117
205
4,275 ; sh►eet ,

,753 ; calves,

TILL ROYAL BRITISH BANK.

SETTLEMENT OF THE LIST.

On Friday a, numerously attended meeting Nsra, held
at the chambers of Vice.Cbancelbr 'Cinderslcy, before

Mr. Pugh, his chief clerk, to further settle the list of
contributories liable to pay off the debts of the bank.
Messrs. Chilton, Burton, and Argles, and Messrs.
Amory, Travers, De Metz, and Co., appeared for Mr.
Harding, the official manager ; and Messrs. A.shurst
and Co., Messrs. Linklater, Messrs. Wingate, Mr. H.
Harris, and other legal gentlemen for various share-
holders. During the day one of the "new" directors
was examined.

The first case taken was that of Mr. Ritchie, of Dor-
set-square, holder of 16 shares, It appeared that he had
formerly been a director of the bank, and had become
indebted to them ; and at some period, alleged to be in
1852, a settlement had taken place between him and
the bank, upon which occasion he had handed over
to them the shares, in respect of which he was now
sought to be fixed. It was contended, however, that,
as no transfer had been carried nut, and that the mere
leaving a blank transfer, and thereby to that extent
withdrawing from the list of shareholders so many shares,
could not bind the company, or be held to release Mr.
Ritchie.

The Chief Clerk intimated that the name must be
placed on the list as*liable, having credit given them for
the amount of any dividends they had not received, and
with liberty to appeal to the Court above.
In the case of B. L. Hue it appeared that the usual
practice of the Royal British Bank, on applications for
transfers of shares through a banker, was for the broker
to furnish to the transfer clerk of the bank a notice of
transfer, containing the name of the proposed purchaser,
and then, in cases where the broker was known to the
transfer clerk, the latter usually waived the seven days'
notice required by the charter, and gave out at once to
the broker the blank form of deed for the transfer to be
filled up by the broker. The transfer deed itself, when
signed, was in all cases laid before the court of directors
by the transfer clerk, and was not registered without
their authority. Latterly, when the brokers came to
the bank they did not always give the formal notice of
transfer, but merely a name, and Mr. Gatherer, one of
the officers of the bank, submitted the transfer or name
to the directors, and got their assent before he regis-
tered them, and he never registered them without their
assent.

Mr. Isaiah Butt, an alleged contributory for ten
shares, was then examined. He first became a depositor
in the Royal British Bank in the beginning of 1853.
After that time he received the half-yearly reports of the
bank, and, believing them to be true, he became an ap-
plicant for ten new shares. He received these reports
down to the stoppage of the bank, and, believing them to
be true, bought 10 old shares in June, 1853, which shares
appeared to have been the property of Mr. Da Wolfe Coch-
rane, and previously transferred from Mr. Cameron to Mr.
Cochrane. But for the statements in the reports, and
particularly from what took place at the meeting in
February, 1856, he decidedly should neither have taken
new shares nor have bought old ones. The statements
in the report of February, 1856, were confirmed by three
or four speakers at the meeting, and particular reference
was made to the readiness with which shares were taken
at a premium, and to the flourishing condition of the
bank. He was present at the half-yearly meeting of the
bank, on the Ist of August, 1856, when a favourable
report was again presented. It showed a reserved fund
beyond the dividend then declared, and after meeting the
liabilities of the bank. He was elected a member of the
direction on the Ist of August, 1853. It had been pre-
viously stated that all they wanted was some good men
of business in the City as directors. He should not have
consented to have become a director had he not believed
the reports to be true in all respects, and he was in no
way aware that the bank was in a different state to
that represented in the reports.
Cross-examined by Mr. Burton, for the official mana-
ger.—He first applied for shares in the Royal British
Bank in March, 1855. He had a circular sent him, to-
licitiog him to take shares, and was at the same time
asked to join the Bank of London, but he gave the
R'iyal British Bank the preference, considering that six
per cent. was better than beginning with nothing. He
could not recollect who it was suggested that the Royal
British Bank wanted new directors, but it was at a
public meeting. It was the position of the bank that
induced him to become a director, believing that he was
a proper party to fill the office. They appeared to go
on very pleasantly for about a week after he took his
seat at the board. It was the "drain" upon the bank
that first opened their eyes, and then it came out by de-
grees. He really couldgnot say when the state of affairs
became known to the directors, but they felt there was a
drain about a week or ten days after he joined. None of
the directors were as ignorant as himself of the state of '
the affairs of the bank, inasmuch as Mr. Gillott and Mr.
Hurst, who were elected with him, had been share-
holders in the bank from the commencement, in 1849.
He (Mr. Butt) did not know that the baukjwas insolvent
until Mr. Coleman investigated the accounts after the
stoppage. When the run took place upon the bank,
they did 'not discover its real position. He began to
learn a little by degrees from the chairman—first, that
they would find the Welsh works a very important affair ;
and then probably it came ont that one of the directors
was a debtor to the, bank. Mr. Gillott, Mr. Hurst, and
himself, evinced great anxiety to learn the state of the
affairs ; bat up to the time of the stoppage, not with-
standing their exertions, they could not make themselves
masters cf the real state of the affairs. It was enough to
paralyse any man to attempt to go into the affairs of so
large a concern. He proposed to Mr. Gillott to call a
general meeting of the board to investigate the affairs,
but this being in the month of Aug. several of the direc-
tors were absent, and there was a difficulty in getting the
board together. A few days after this 'the " drain" upon
the bank showed them that it was procceling in a
downward course, and it came to a stop on the 3d of
September.

The various reports of the bank were put in evidence,
and the chief clerk decided that Mr. Butt's name must
be placed on the list as liable in respect of Lis shares,
with liberty to appeal.
It appeared in the course of the proceedings that the
following directors were indebted to the bank as
under :

Mr. Humphrey Brown, M.P. (director) £70,908
Mr. Cameron (manager)
Mr. Gwyn (director)
Mr. M'Gregor (director)
Mr. i\ luilens (late solicitor)
Mr. Chandler (auditor)
It was alleged that against these sums certain securities
were held hy the bank.

The name of Colonel Phibbs was placed on the list in
respect of eight shares, and several other names were
also placed upon the list to contribute to defray the
debts of the concern.

It was stated, amid some amusement, though it must
be regarded as, rather apocryphal, that Mr. Muliens,
the late secretary and solicitor to the bank, whose de-
cease was sometime since announced, has been eeen, like
the shade of Sadleir, by one of the detective police,
perambulating the metropolis during the last few days.

PROSPECTS OF THE CREDITORS.

We stated last week that some arrangements were in
contemplation by which a termination might be put to
the frightful and ruinous litigation which for some time
past, in connection with the failure of this bank, has
been so disgraceful to the law of this country. The
plan which Mr. Wyld seeks to carry out is that of
inducing the shareholders to subscribe together a certain
sum of money, on condition of the whole body of credi-
tors accepting it in full and complete satisfaction of all
their claims. Originally there was no indisposition on
the part of the creditors to accept a reasonable compro•
wise, and had 15s. in the pound been offered at first
there were few if any of them who would not have con-
sented to receive that sum.- The shareholders, however,
believing they could altogether evade their individual ha-
bility to the creditors, refused to accede to any such pro-
position. Driven from their home and from their country,
or all but crushed beneath the weight of actions brought
against them, or apprehensive of the ruin which
impends over them, many of the shareholders, with the
aid of their friends, have expressed their readiness
to raise a sum sufficient to divide 15s. in the pound
among the creditors. A meeting of those of the share-
holders who are still in this country was held last Mon-
day evening, and ceveral of the gentlemen present,
although ruined by the executions which bad been
issued against them at the suit of individual depositors,
stated that their friends would come forward and advance
some money provided any arrangement could be effected.
Others expressed their readiness to do all that lay in their
power towards effecting a settlement, and a very large sum
has since been conditionally subscribed by the parties pre-
sent at that meeting. During the week a meeting 'nasals°
been held at Maurice's Hotel, Paris, consisting of several
of those shareholders who have left the country,
in order to obtain a brief respite from the fate
which awaited them at home. By these gentlemen the
proposal was very generally acceded to, and liberal pro-
mises were made to the agent who represented the depo-
sitors on the occasion.
There are great difficulties in the way of the prpotshee d
fair and business-like adjustment of the claimson
shareholders, interposed by the conflicting courts o
of
law
and equity. The differences between the
arranged
shareholders could be easily and satisfactorilyfor,each party is
by a few energetic men of business,
f creditors and
willing to sacrifice something
fr g _
settlement, but they aree ed thfreomsakcearroyfinga
ou
ouit,etnhseivire
foobrjmeectws
hbiyohthtehciirecpwuithonus eveoos,
dcevomisepdli,caetsedth, and
e x
ordinarywith
hnsglittctainotnisc
purpose of rendering common sense
for the express
oafltoligfeet.herThseurpeerafireuout
seeking to enforce calls which, it they
superfluous
aco tuhret s
pegoewreerP,aieda,chwould be far more than sufficient to pay
the whole of the debts in full. The Court of Bank-
ruptcy will not hold its hand in seeking to obtain the
call made by the directors of 501., and the Court of Chan-
cery, ignoring that particular call, demands a contribu-
tion of 751. per share from every shareholder. If the
arrangement to which we have referred could be pre-
sented in a complete and substantial form, the Court
of Bankruptcy has, it is said, power to enforce
such compromise as it may consider fair and reason-
able binding on all parties. Similer powers are held by
the Court of Chanoery, and surely some plan could be
decided upon by which the conflict of the jurisdiction
of these courts might be made to cease, and by which
the laudable exertions of the parties most interested
might be assisted by the machinery of the law. A meet-
ing of the depositors is to be held this evening, when
some decision will be arrived at respecting the amount
of the compromise which they are disposed to accept,
and there is every reason to believe that 15s or 16s. in
the pound will be considered, under all the circumstances
of the case, as a dividend which ought not to be refused
by pruden tmen.
The case of Mr. Humphrey Brown, M.P., came before
the Commissioner during the week, when it was finally