The Sun.
London, England, 1828-12-30 00:00:00

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gIEPEIENSON, AND CO.

etc that
address
ward fia
City
)WP

cclty in
cnnviivs

rat- tho
, vet),

gins to
Ins hit
;:nsclaie,
Ivorthy

present
by the

Owe 'Mfg

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i 153 the

eitA it
data Fa

Iy, Mr.

undrr-

ti•-ended
Pon tll5
FieertiCy

timentt,

Rumour.

'er him-
, he will

surrnble
.spirited
hie city.

canvass
ras been.

.c.lare ties'
this day.
,e is, etwk

•n. !no-
Yr teat Iv

A in
ar ? '1".;

ition, re"-
did hE
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the city
al events,
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man)

ter froff

it *mad(

modittrn,

rich Tnas
an theit
the toga'
place at
the mos,

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gradually

ob-
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mpanied
ix wouldi

or many
:bout the
41 feet 3 as

17 an on-

mitivtive
Te taking
and Lad

were 13-d1

by a man

Ato J.

res, with

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of the
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hold the:
as rii9c73:
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park calls
thorities.
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itt..V5l.lY- OF 'AIESSRS. REMINGTON,

(From the Times.)
•
- ' MONDAY EVENING,--The disappearance of Mr.
It:Kt-lend Stephenson, the banker, with the various
tireor4lanc:s,attending it, has occupied attention
,t0.,1a:- in the city almost exclusively. No informa-
ien rt•Tectirtg the place of his retreat has yet been
'Obtaimti, but the general conjecture is that he has
kene..oLiverpA)ol, and taken his passage froM thence
te.,
rthereol..lol; ti
je,(ll, States.
New thefillscnoetk,oxfyas
packetsto of te
yesterday •
. lacy ii time to go by it, he will probably escape
i..., ~' urse .. Officers have been despatched after Win to
i
1, . . • pal
-'; lin , pt.: lict ports. It is said that one of the
4( .; from the house of Remington and Co. has
'f stri-,;scondp(l, and that on breaking open his de.k
S. uirday, it became apparent, that he was in the
• ,t-ifi:ence of Mr. Stephenson, and had participated
• with him in hip late proceedings. The deficiency in
'•• i' the money and Resets of the house terns out to be
mach more considerable than was at first imagined.
In addition to the sum of 58,0001., for which, as
I
:':f:
sfratt,e4Jboot S
,to t
3a tou:dooaavi Mr. S
spas
drawn t ephe(nsiot n'osn cheque
riday last,
_., from the account kept by the house with the Bank
1 of England,- without the knowledge of the other
'wirers. The total amount of Exchequer Bills
. • I.)gs:fig is 79,000/., the propeety in which may be
~ute'l as ro;lovvs :,
; :-.4tinfron Life Ahsociation £89,000
-Ir. Ex-Sheriff Parkins
- i : !,, Assignees,of a Rut:inapt Estate
t Wi'iow Lady .. 5,000
%0:1,t Foreign Gentleman, whose name we could not _ ___

jearn

5,000

. . • £79,000
-1, It i!, not supposed the above or any very material
. : ;oitrt.iztophf
entisotemn, agt
~en miens pla,:es as security for money raised at
th eb
een possession
deposited
atth that present
here i n
tiiiretent times to sustain the sinking credit of the
house. 'rue deposit of the London Life Assoc's-
. ~ . .
, tion was in the whole 51,000!. Exchequer-bills, of
s ' ) wh:ch sem 12,0001. was by a mere accident, saved.
j' A ,taper parcel, directed to Mr. Stephenson, was
-.....,_. found on his desk on Saturday morning, and on
beiag opened, it was found to contain these 12,000!.
, Exchequer-Lills, which of course have been re-
, stored to the right owners. The state of confusion
sad distress of mind among the remaining partners
is iutlescriboble. , One of the junior partners, a re-
lotion of Mr. Stephenson, is the only one who has
atteatled haziness to-day. A docket, we learn, is to
..' ' be w rut& against the house immediately. The greatest
discord,. we - understand, has existed among the
; . Fortner* for a long' time, and they hare scarcely
i . heIC any intercourse with Mr. Stephenson but that
1
I which business rendered indispensable, but they ap-
pear to have placed, nevertheless, the utmost reliance
,on Lis honour, and the prudence of his !management
Ci, of the affairs of the house, which was for the most
.Tll • rut confi4e4.l to him.
case ise of this Butt-the mast extraordinary feature 1 -c -

1• the fact, which is now placed beyond all doubt, that
. ~,,,i, foevry;
using
the p
nina of
principal bankersaisct‘roek,set
ton nn Lon,foot dnonni
ndriod in
stiga t ti
ohe
n
i 5
•W
into the affairs of this house, with the result of
- - which 'they were to Well satisfied, that each advanced
i,- 20,0041. on such securities as they found it to pos-
:',sess. ; they declared further to their friends, their
' , ti entire conviction that the house was solvent, and even
''''' s-= went so far as to urge individuals who had with-
fi
.2' drawn their accounts to replace them. Every one
,
, . ',Oita naturally. how it has happened that men pos-
j seeing the highest character for integrity, sagacity,
4, -arid knowledge of business, could have been thus
1 . do,-eived? They used, as it appears, every precan-
- jp,. t;03,--they questioned not only Mr. Stephenson
1,,- ' iliniself, but addressed. all the inquiries which the
: . . A4e.called for to the other partners also; and finally,
1, t:trough one of their number, made a personal exa-
i etinattoo of .the books, with the amount of the cash
and bills in the banking-house. Their research was
~ • `.elective in the exact point whioh.snen of_honour and
:'. cleracter might be expected to fail iv,; for it never
'''. •• ,Id ha-- entered into their minds that any of the
. ( , •31.
Perwns concerned could have removed or disposed of
il those securities lodged with them merely for safe ma-
f-. otlf. They wholly forgot, therefore, to inquire
•5 3-bat Exchequer-bills, InFa-bonds, or other floating
. . ecorities.they held in *posit. Fro.o the supply
)
lns,obtained, however, there is not the smallest
i :cave for doubting that the means were exhibited
ictich iropokld on the bankers who set on foot the
1:- 1.-iniry, and who circulated consequently in the
''l. 'tumor-market their fixed persuasion that all was
)' -Ighr and safe. The abstraction of the Exchequer-bills
.4.',. A'as the less ;ikely to present itself to their minds,
:, t 3 they Knew that a late law has protected deposits
4.
~..„ „f tblt, nature by making their removal a capita'
A -

it is not true that Mr. Stephenson was seen on
Saturday morning on the road to his seat at Mar-
ihatls, in Essex. He left the house in St. Barth°lo-
mete* 'dospital, in which he resides as treasurer of
that charity, at four o'clock on Saturday morning,
and has not since been heard of. It seems that the
unusual circumstance of his leaving home thus early
['WWI to the knowledge of the gentlemen who have
becme his securities for the faithful discharge. of
his trust as treasurer to St. Bartholomew's Hospital,
end infused into their minds so strong a suspicion
that.something was wrong, that they waited on the
President, Sir James Shaw, and acquainting him
with what they had heard, earnestly pressed him to
withdraw a part of the balance held for the Hospital
by the banking-home' so as to lessen the danger of
ail situation in which they conceived themselves to
LO ' placed. After some dieeussion, although the
worthy Alderman was very far from imagining at
the time that those suspicions were well founded,
the prudence of the suggestion was admitted ; a
cheque for 6,000/. was drawn, presented at the
banking-heuise at.eleven o'clock, and paid : at half-
past one the house stopped. There remained then
as & balance belonging to the Hospital only SOW.—
Thu securities, of course, cordially congratulate
themselves on the narrow escape they have had.
• We believe, as we stated on Saturday, that the
balances of the house, arising out of London depo-
sits, have been reduced so low, that few failures of
baking-homes will have inflicted- less private in-
joiy.. Mast persons have either withdrawn their
ter-counts altogether or materially diminished their
amount. This has been the case also with the
country banks whose connection has been still re-
taitied. - The Leominster bank, for which place Mr.
: Stephenson was returned to Parliament at the last
elcetion, had a large balanee there on Friday week,
, bet it has now. been reduced below 100/. The ac-
count for this bank hes been removed to the house of
Sit John_Lubhock and Co., and the remaining court-
. tey beaks, which are very few in number, hare been
removeil into. other hands, so that so mischief in
th': country from this cause is at present looked
for. The unfortunate partners of Mr. Stephen-
tootr bare ecred in the most honourable manner that
watepbasible under the melancholy circumstances in
wliieh they are placed. All short bills and other se-
teeitiee not' converted into 'money have been in-
stently del;, /red up on the application of the right
owners, mei all inquiries have been readily and ex-
plicitly evevet•ed. The bankers who made the ad-
ranee, last week after the investigation that took
plaestieto the affairs of the house have had the
w,holeiettiroeil.,to them, on stur2ndering the bills
'pieced wit:, them as seenrity.
911 the whole, however, no event within our re-
ni-leoticw-hett•excited more painful sensatiouts in the
itv than this; it stems to diesever the ties -which
leeid mhivet•-togeth.er in a business- where honour has
!en.th h
ertoheld almost universally as the govern-
. •I - priheiple, and will be long before the shock is
f,,:11 crud : it i$ worse than half a dozen failures.
..._

Ti o. frienda of the widow of Hunton, the
.raft oCtlot late unhappy man'` ten children, hare began
,l,,cciption for assisting her iq the sad change of dream-
the eisbaeription, is already -beyond two thousand
nren',.—Nortoich:,,Jfereury.