The Sun.
London, England, 1857-10-26 00:00:00

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[ PRIOR 40. S RAMPED 5° .]

ROYAL BRITISH BANK.

The following address has been circulated by the
as=ignees amongst the shareholders of the Royal
British Bank :

"The undersigned assignees having been constituted
by the recent act of Parliament, the representatives of
the creditors for the purposes of that act feel it their duty
to address the shareholders upon the subject of the pro-
posed general compromise. The assignees much regret
that all their efforts have been hitherto unsuccess-
ful in persuading the shareholders to subscribe
the amount necessary for completing the compro-
mise suggested by themselves and by their authori,ed
agents, and that they have not appreciated the exertions
of the assignees, nor met them in the liberal spirit which
the sacrifice of their time entitled the assignees to claim
:It the hands of the shareholders. Many of the share.
holders hate taken every advantage both of time and of
legal delay to interpose obstacles to the completion and ,
carrying out of the proposition which emanated from
the committee appointed by themselves.
"The proposal to pay to all the creditors a composi.
tion of 6d. in the pound, in addition to the dividend
to be realised from the estate, was deemed by the assig-
nees and the committee of shareholders a fair and reason-
able proposition. The assignees, as members of the
committee of depositors, relied upon the good faith of
the shareholders, and the pledge given by their commit-
tee,and it was upon that assurance that the arrangement
would be completed, and that the 12,000/. deposited
towards the agree l guarantee of 20,0001., would, within
a reasonable period, be increased by the contributions of
the shareholders to the sum required for the completion
of the arrangement, that t'se assignees used all their in-
finer es to stop and avert cts_tly.. and ruinous litigation,
which moat have terminattlaie utterruin of every
shareholder in the bank. _ _

":Many months have, however, elapsed, and no a-ddi-
tien has been made to the fund, nor has any movement
be-in made by the shareholders either to discharge the
debts of the bank or to complete the compromise. The
assignees indeed know that acting upon an unfair and
di,honourable policy several of the shareholders have
applied their funds, which should in justice have been
appropriated to their promised arrangement in the pur-
chase of the debts of the bank, and that unfair attempts
have been made to induce the creditors to sell their debts
at a low price. It may be said that as the law formerly
stood the shareholders had no guarantee that their con-
tributions would free them from further liabilities, but
the Act of Parliament obtained during the last session
empowers the representatives of the creditors to give
discharges from all further lability to creditors.
Want of protection to the shareholders no longer exists,
and they have, therefore, no excuse for not coming
forward an l uniting in this common object, in which it
is due not oaly to the credit ins but to their fellow-
shareholders, and, indeed, to themselves, that they
should all earnestly assist. The only hope the share-
holders can have of averting their common ruin is by
the subscription of such an amount as will satisfy the
claims of the creditors, and thus prevent the otherwise
inevitable necessity of putting in force an organised
scheme, by which the creditors will be able to compel
psyrneet of their debts in full, and invalidate th.:re dis-
positions of property which have been made in the hope
of placing it beyond their reach. The shareholders in-
divideally must feel the force of this appeal. If properly
responded to, the desired object may be attained ; but if
each shareholder should still withhold his contribution
from the apprehension that it will weigh little in the
scale, it is manifest that the compromise cannot be
effected. It is beosuse shareholders have hitherto hesi-
tated to come forward according to their means that so
much misery has been caused. Each shareholder should
feel that by now advancing more than he would be re-
quired to ply if all the shareholders were able to oon-
tribute according to the number of their shares, he is in
fact saving the remainder of his property, which other-
wise must be wrested from him. It is therefore merely
a question how much less than his entire meani each
shareholder will offer, to avert certain and iintneliate
ruin. Shareholders should not delude themselves by the
vain hope that residence abroad wid enable them to
escape the reach of creditors, or that their property will
not be ultimately made available for payment of the
debts. The previous offers of contribution were insuffi
cient to effect the object, and the offers of many were
far below their well-known available means. Tue past
shareholders ere now more limner-date!), interested in
aiding the general comproiniae, because the recent law,
amongst other advantages in favour of the creditors,
enables the assignees to make such arrangements with
the present shareholders as will entitle creditors to
procesd aokiwt former members. It is admitted by the
shareholders that the temporary protection given to

them by the recent act would not have been obtained
but for the exertions of the assignees and the committee
of depositors.
" It is for tho shareholders to acknowledge those Fxer•

tions by taking advantage of the protection afforded
them, and giving, while(thakprotection coptinues, their
active and prefge4io assistanaa in.carryirtent,tha corn
prorni,e. If the shareholders continue pi.sive that.
compromise must fail, their temporary protection will
he withheld, and a wer-organised and vigorous plan will
be res-irted to for ,the p?tpose of enforcing payment of
the debts in full. The un-nocessful attempts hitherto
made to bring about the compromise induce the assig-
nees to by-lievo that the only modo likely to lead to a
successful result is to hold a meeting of all the share-
holders past and present. and this letter will therefore
bo acc.)inpanied by an offraial circular convening a meet-
ing at which all a-e earnestly invited to attend, at which
the assignees will be present.
(Signed) " JAMES WYLD, JNO. MAXWELL, H. J.
MITCHELL, ROBERT TAYLOR, P. T.
BURKE."
Accompanying this address is the following circular :
" London, Oct. 21.
" Re the Royal British Bank.
- -

" Sir,—We are requested to forward the enclosed
circular expressing the views of the assignees of this
estate upon the subject of the proposed general compro-
mise. By the recent act of Parliament temporary pro-
tection had been given to the shareholders against prc-
cecdings of creditors. The opportUnity is, therefore,
now afforded to the shareholders of assimting without
molestation in such arrangements as may be necessary
for the purpose of carrying out the compromise. It must
be evident that if the shareholders do not avail them-
selves of this opportunity for the purpose, it will he im-
possible to prevent the consequences which must inevit-
ably follow. We have, therefore, earnestly to invite ) our
attendance at a general ineeting of the shareholders to be
held at the Guildhall Coffee House, King-street, Cheap-
side, on Wednesday, the 11th day of November next, at
hal'-past six o'clock in the evening precisely.
" It is desirable that you should fill up and return the

nclosed f.,rm as early as possible, and that if you can-
not be present at the meeting you should depute some
person to attend for you, with authority to act as may
be necessary. We feel convinced that compromise can
be effected if the shareholders will unite together for that
purpose. The assignees on behalf of the creditors will
lend all the assistance in their power to carry out the
compromise, and no exertion shall be wanting on our
part to ensure its sucoess.—We remain, sir, your obe-
dient servants,

(Signed)
" J. arid J. H. LINKLATIM and HAVIEWOOD,

Solicitors for the Ags:gnees, No. 17, Sise-lane.
"R. P. HARDIN*, Official Manager, No. 4, Lothbury."
Annexed is the form referred to—
" R. P. Harding, Esq.
" In re Royal British Bank.
" am willing to contribute the sum of
towards the fund required to effect a compromite with
the creditors of the Royal British Bank in addition to
the following amounts, for which I claim to have credit
in account : s. d.
"Amount of my (deposit or current) ac-

count with the bank
"Amount paid by mete individual creditors „ ~ „
"Amount paid to the official manager
_ . .

"Amount paid to the official assignee ... „ „ „
"Amount paid towards the depositiund... „ „ „

" Amount offered as above ff II If

Total

" I am, teo."

JAMES SPOLIEN.—It is not supposed by the Crown
lawyers that they will be able to get a verdict against
this notorious character, whose trial comes 'on before
Baron Richards next week at the Dublin Commission.
There has been no new evidence obtained ; and it is not
believed that a strong case can be constructed on the old
testimony. However, should Spollen escape from the
clutches of his gaolers once more, the executive will be
able to say that it has done its duty to the utmost in his
case. His health is hardly so good as when he trod the
stage of Fishamble-street, but he is not di.pirited, and
states that his acquittal is certain.
FLOODS IN ESSEX AND LOSS OF CITE.--'-00 Thursday
night a great part of Essex was visited by a fearful
storm, or rather a succession of storms, of thunder and
lightning, and as the rain bad fallen heavily through-
out the whole of the day the rivers were soon swelled
to torrents, which committed terrible devastation in
their course. Large tracts of land were speedily
flooded, and in the direction towards Malden and
Crouch whole flocks of sheep were drowned in the
fields. Mr. Kemp, an extensive farmer in that dit-
trict, lost E 0 shebp besides some cattle ; and on the
farm of Mr. Hart, a neighbouring gentleman, whole
fields may be said to have been carried away, as the
cultivated soil over many acres has been swept off by
the force Of thif. waters ; and the farm buildings ar,d
barns were inundated to the depth of several feet. All
the farms and villages in a direction towards the coat
fur miles bear traces of the havoc committed many houses
having been inundated and much property injured. At
Burnham a sad catastrophe occurred. A wedding in the
town that day had been attended by a party of young
farmers from the neighbouring district, and two of them
were on their way home at night in a horse and gig when
they were met by the flood ond one of them, Mr. J.
R, ham, jumping out to secure the horse, was swept away
by the torrent and drowned. His body was found nex'
day some distance from the spot. At Colchester Camp
the storm was severely felt, and a high wall next the
military road was carried down by the wind and the
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