The Sun.
London, England, 1826-08-16 00:00:00

CORNWALL AND DEVON MINING COMPANY.

On Monday a Meeting of the Shareholders of this Company,
who had signed the deed of settlement, took place at their rooms
in Lombard-street : Lord Viscount PALMIERSTON iu the Chair.

The scene was an extraordinary one, and derived additional
interest from the appearance of Mr. Wilks, jun., who entered
the room for the purpose of making his statement to the corn.

PanY•
Mr. Waits said, that with reference to the establishment n
the company, he really was not aware of any one circumstance
upon the part of himself or the directors, that was not strictly
honourable ; and be trusted that he would soon shame the indivi-
dual (Mr. Clarke) who had calumniated him. Mr. Clarke bad
certainly been compelled to visit the Lunatic Asylum a couple of
years ago ; and if his reason had returned, be had made the very
worst possible use of that inestimable gift, by exercising it against
a blameless man. And first, for the origin of the company. This
Mr. Swan, who bad come forward, complaining of him, according
to the public prints, and talking of dishonest advantages, was
the very first man who told him, that if he should deaire to sell
the mince, the purchase of which he was then contemplating, -he
might easily put on 80,0001. or 40,0001.—(Mr. Swan shook his
head.) Oh ! a person could be brought forward who would
prove it ; and it was this inducement that led him (Mr. Wilke)
to purchase so- many mines. He was not afraid to admit that he
had sold for 121,0001. what he had purchased for 78,0001. ; and
he did not see how that fact was calculated to prejudice the specu-
lation. This was perfectly well understood, but it was not found
to be a crime until money became scarce, and there was some
difficulty in paying the calls. As for Mr. Kershaw, one of the
Directors, a veil ought to be thrown over the transactions of that
' respectable gentleman, who had shown such extraordinary symp-
toms of a repentant spirit at one of the 'meetings of those who had
assembled for the purposes of slander. Why, it was he that first
said, with reference to the money which he so much regretted he
lied received, s" Really now, Mr. Wills, you ought to give us
something for our trouble." Mr. Kershaw was the man who
dogged bins, day after day;, for-recompence, pletuliag that he
had done great service tor the Company, by inducing Lis friends
to be subscribers. Why, 'lie carried about with him a list,
of , his friends, and was constantly • exhibiting it in testimony
of. his indefatigable and laudable exertions, and crying " now,
is the .time ; " and yet this man complained of the divi-
sion of money. It was false to say there had been a division
of money. Mr. Kershaw and the other Directors . who had re-
ceived money from him, had received it without having any de-
mand upon him, and they ought to return that money .to none
but him, although he did not ask for it. It was a gross false-
hood in Mr. Kershaw to make such statements, to state that his
(Mr. Wilkes) bills for shares were dishonoured, to declare that
he had been duped. Duped, indeed ! That man must rise early
who could dupe Mr. Kershaw. Wu not be (Mr. Wilke) the
only person who had consented to receive his in the Welch
Iron Company, and had he not given him, iu payment, a bill of
)500/. which bill was paid; and had Mr. Kershaw ever delivered
the shares? No such thing—no satisfaction whatever had been
made. A Mr. Sheldrake also had thought proper to add his
condemnation to that of the rest. That was a respectable man
who had been clerk to Mr. Sim, a copy of whose letters he had
thought proper to reserve to himself: Mr. Sheldrake was a grate-
ful man too, and had repaid services by running shout for half-a-
crown subscriptioril to get up meetings to the prejudice of his be-
nefactor, on whose account he had, in a fit of virtuous resent-
ment, upon one occasion, set the Morning Herald newspaper on
fire at the Royal Eichange,' amidst the sneers and laughter of the
public---(A laugh.)—With such objects as these he had to cope,
and with Mr. Clarke, who had been always very civil, until he (Mr.
Wills) objected to his admission to the Welch Slate Meeting.
He then mentioned all which he said he knew about what was
called the " concoction" of the Company. -In February last year
the shares in the Welsh Iron Company, with which he had some
connexion, (a laugh), having reached a considerable premium, and
English mining speculations' having become more fashionable, be
was applied to as an agent, to make Inquiries amongst the number
,of thou whom he saw on the subject, as Mr. Swan knew, who
waited upon him with a variety of specimens, and praised she
mines immensely. Agreements were made and signed. Kershaw
called about this time, and talked upon the subject with him, and
others. The thing soon got wind, innumerable applications were
made, every thing was done deliberately. A meeting was held at
the Albion Tavern, at which Mr. Barrett took the chair. He
(Mr. Wills) distinctly stated, the amount of the sum he had given
for the mines, and the profits he would make. There was Much
discussion on the subject, and it was resolved that those mines
speculationt theto m e mosteti:og,less tthan
a solemnly,too 01. tihna thahred Imuiodnelyo: t a
na already eial tel yw
ashy
should be purchased of him for 121,0001. He had now to state
e for 5,0001. to Mr. Teague and others, who had originally
possessed sonic of the mines. The new Directors knew as well
as he did the nature of the transaction. The Proprietors always
had access to the minutes.
Lord Paistrasion—Do you mean -that the new Directors
knew the price that you were to give, and the price you were to
receive for the mines? It is important you should be accurate.
Mr. WILKS said, he certainly did not mean that.
Mr. W. CLanice asked Mr. Wills whether those important
particulars were expressed in the minutes?
Mr. Wuxi—No. It is stated there, what was given to me
for the mines, but not what I gave for them. (A laugh.) if;
after the experience of the last 18 months, he could he Isdlo alter
upon 2,000 of the shares be-
any thing, it would be only that part of the transaction which re-
-I;h:that your check was paid
bated to the gift to Mr. •Kershaw. (A laugh.) .He entertained
'was sure he gave the
0 n llt /ht
e• .
sameV iro othl i .ide i LanPryg vyh—e a.
that(hll it
beens
appears.d6 cnwrke received
'received.ivha
requestedbeh tvuyhe et
tl7atinthpaeum'Yeetinnlg":YOu—ld(bAe
ftvohareleuleoi,ingtehrfaartt opinion of the mines. So confident was he of their
divide thedou
doubt,
t cal-
culated
case,
and to
they,
yoann the Stock toc,k,
lam,,,said Mr. woks, "determined
laugh.)
respon-
sibility. As for the purchase of .shares, the Directors were re-
sponsible for that proceeding.: y were better judges of mut-
checMkr.solVaile"dasydsibdenfoorte.
so good, as in their consideration of
Exchange,the
no more to this concern until this concerl
to pay 4 pays me.
offered to leave the matter to arbitration, but my proposition was
. tea It is said I have had 54,0004 of the co
Tern • company's money.
Ipaid
How much have , away? I have paid 62,0001. 1 have
aid 80,000/. for, the shares, 3,0001. for scrip, and the difference
paid the mines, not to mention the money which 1 gave to the indi-
viduals to whom I gave gratuitously. If it be expected that I
name those persons, that expectation wilt not be gratified, for I
may be mistaken. ,One gentleman, whom /
ceived a portion of the present, has denied it, and I may toeit
e

similar ingteettrkekei or they may forget. No I inkdetumisied
upon three things—l shall only attend such meetings as I think
fit to attend—(a laugh)--I shall only answer such questions as I
think fit to answer ; and I shall upon so account relinquish ons
atom of ray contract, but shall, if it be necessary, pursue it even .
into the House of Lords, convinced as I am that it is an honour-
able and bone fide transaction." Mr Wilks concluded his speech
brmoving that the minutes be not approved of.
Lord Patstoterow intimated, that it was expected from Mr.
Wilks, that he would at least name the persons who denied thatthey--
received money from him, although he might think they elide- -
Mr. Wass said, he would willingly mention the names of tunes
who he knew did not receive any. Neither Lord Palmerston, nor
Mr. Sullivan, nor Sir William Kay had received any. -
Mr. CLARKE said, he was glad to have the opportunity of te-!;!..;
plying to an attack of so personal a nature as that in whichlts: .
Wilks had indulged against him. He had first undertaken to in- is J
vestigate caw of this nature by mere accident. Mr. Clarke then ;
gave the particulars of what occurred in a company, by which he
had lost 2,000/.
Mr. Waxa.—Did not Mr. Pegu say, that you were one of the
greatest scoundrels in existence ?
Mr. Cr.anirt —Never in his life. Nobody ever said so. If any •
ever thought so, they could long before this have come forward. -
Mr. Wars—There are many who are ready to swear it. " •
Mr. CLARKE—Yes, perhaps, some who are connected with the
concoction of this company, in which some of the foulest trans-
actions that ever have come to light have taken place.—( Applause.) '
—Mr. Clarke then admitted, that he had, in consequence of what
had occurred between him and his partner, Mr. Timperon, by
which he lost immense property, been affected in the intellect, htle
that distemper of the mind was pursed away, and his mind as it
were refreshed and invigorated. Mr. Clarke then made several
allusions to the Welsh Iron Company, in which Mr. Wilke hie;
•
he said, surreptitiously obtained some scrip.
Mr. WILKS declared that it was false, and repeated the
so frequently, that
Lord PALMERSTOI4 said, he should be compelled to leave the
chair if he heard the word again.
Mr. Ctiaxx stated, that the principle upon which the ow-
coctors of this company started was bottomed in fraud. lithe
public knew that the mines had been purchased for 78,0001. for
the purpose of being sold for 121,0001., they would not have
subscribed. As to the charge of participation, Mr. Wilkes owe
acknowledgment with respect to those gentlemen, about whose
names he felt so delicate, and Mr. Kershaw's statement under the
influence of a contrite feeling, were satisfactory upon that point.
What could have induced Mr. Bilks to have given loge sums d
money to those men? It was no gift. It was the fruits of parti-
cipation in this vile transaction. It was the price of their ucrecy
and of their honour.—(Hear, hear !)-11r. Wilke had said, that
he had lost 30,000/. by shares. Certain it was, that Mr. Wilk'
had received 54,0001. of the company's money, and had only paid
19,700/. of it for the mines. The estates had become forfeited by
this conduct.
Mr. Wznrs.—They are not forfeited. The parties have agreed
to postpone their demand.—(A laugh.)
Mr. CLARKE.—You received 54,000/. How did it happca
that you paid no more than 19,700/. ?
Mr. Witacs.—l have sold the mines for 121,0001. When that
is paid to me, I shall acquit the Company of allresponsibility".
Your statement is altogether false.
Mr. CLiatr.—One of the mines, for which you charge the,
Company 30,000/., was estimated in 1824 at S,OOO/. How did
the improvement happen to take place?
A long conversation took place upon this subject.
Mr. SWAY charged Mr. Wilks with having uttered a tissue of
falsehoods, and declared that if a third of the money that had
been expended most improperly was laid out upon the wines, tens
of thousands would now be coming in.
Mr. Maaarr a shareholder, begged to be put in powltic"
of the deposits which he had paid. He was a poor maniac! r"„/
was inconvenienced by the delay.—(A laugh.)
Mr. WILLS would leave it to the world to decide whether hEt.,
was not justified. He had been a severe loser, and nothing altuala
deter hint from enforcing the contract. The sum for which
would go was nearly 70,000/.
Mr. CLARKE.....-I trust I dual have access to the doctuneett
which may be necessary for my defeuce, and I assure the rneetial
that nothing shall deter me front doing all I can to have this cos
fully investigated at the Old Bailey.--(A laugh and applause.)
The motion of Lord Palmerston was agreed to, and thanks bedfli
voted to his Lordship, the meeting separated.