The Sun.
London, England, 1826-01-10 00:00:00

•

PROVINCIA L _BANKS,.

MESSRS. WENTWORTH AND CO.'S BANK.
(From the York Herald.)
A numerous and respectable Meeting of the
Creditors of this Firm was held at the White Horse Inn, Cop.
pergate, in this city, on Thursday last, to receive the report
of the committee which had been appointed at a meeting of cre-
ditors, held at that place on Monday.
Mr. 11. GoAHAB' read the proceedings of a respectable
meeting of the creditors held on NI ()inlay. It was then re.
'solved, "that we view, with considerable alarm, the absence
of all satisfactory information as to the real state of the affairs
of the bank of Messrs. Wentworth and Company of York,
and that we consider it highly expedient that a public meet.
ing of the creditors of that firm shall be held at this house
on 'Thursday next. at two o'clock in the efrernoon, in or.
der to adopt such measure as the nature of the case may re.
quire." Five gentlemen were then appointed as a committee, 10
make such inquiries into the state (if the affairs of the bank as
they should think proper, and report the result thereof to this
Meeting. The committee bad drawn up a short report of the
proceedings, which would be read to the Meeting, and they
trusted that the measures they had adopted, and the sugges-
tions they had therein submitted to the creditors, would be
approved of.
Mr. R. H. ANDERSON read the following report of the cons.
mittee appointed on AI onday :
" In pursuance of the directions of the above Meeting, we
beg to report, that on Tuesday last we waited on Mr. Barnes,
the provisional assignee, resident in York, for the purpose
of ascertaining whether the partners in the bank had any
intention of superseding the commission, or otherwise putt-
ing a stop to the proceedings under the same, and also for
the purpose of requesting such other information as to the
state of the affairs of the bank as he might consider him.
self at liberty to give. But Mr. Barnes declared that he
did not consider himself at liberty to give any information
as to the affitirs of the Bank, as in his opinion it was inconsist-
ent with his duty as provision assignee so to do. Your Com-
mittee, therefore, addressed a letter to John Lee, Esq. one of
the solicitors under the Commission, for the desired informa-
tion, which they had in vain attempted to obtain from Mr.
Wood and others in York, in answer to which Mr. Lee re-
turned the following letter
(The letter states that there was no intention of superseding
the commission until all the creditors were paid their full de.
mends, and that their was a great probability of their being paid
20s. in the pound.)
The Report proceeded—
" Anxious to obtain the best information in an affair of so
great importance, our Chairman, Mr. Mason, in his individual
capacity, addressed a letter to Ir. Chaloner, a partner in the
firm, anti in answer thereto Mr. Mason has received the fol-
lowing letter :..;e"
(Mr. Chaloner's letter states that the commission met with
his perfect approbation, and expresses a belief' that if' the wind.
inie up of the affair* falls into good handle there will be ample
effects to meet every demand.)
Mr. A xpensosr then proceeded with the Report:—
" Judging from the statements contained. in the letters of
Mr. Chaloner and Mr. Lee, and from various other circum-
stances which have come to our knowledge, that the aflitirs of
the bank, must be finally wound up under the management of
assignees under a commission of bankrupt, your Committee
directed their attention to that subject, being strongly im-
pressed with the opinion that the chief reliance of the creditors
for a satisfactory termination must finally depend upon
the choice of fit and highly respectable gentlemen to fill
the office of assignees. With that view your Committee waited
upon Messrs. Swann and Co. and Messrs. Wilson and Co.,
the bankers in York, to ascertain if any gentleman in
either of their establishments would consent to accept the office
of assignee it' he were elec'ed, and your Committee are happy
to report that they have reason to hope that the application will
be successful. In conclusion, your Committee beg leave to re-
commend that a permament Committee of twenty.one creditors
he appointed by this Meeting, with full powers to act on behalf
of the creditors, and with particular directions to watch the
proceedings under the commission; and that this Meeting be
adjourned to the Ifith of Januaryy instant"
Mr. CAITTON proposed that the Report of the Committee be
approved and edopted, which was seconded by Mr. neyson,
jun. and passed unanimously.
Mr. Meson informed the Meeting that Mr, Rishworth and
Mr. Hartley were both in York, and were ready to attend If de-
sired.

After a few observations from Mr. Sheriff Gill, Mr. Cattons
and the Chairinan,
Mr. Scawist rose, and said that a week or two ago Mr. Rish.
worth attended at the bank, and then stated that in time 20s. in the
pound would be paid, but he was not believed. Mr. Chaloner
now stated the same. What more could be done ? if time were
given to them, he was convinced that they would satisfy every
creditor. This Meeting he conceived to le °filo use whatever,
as he knew dint it was the intention of the firm to submit a
statement of pounds, shillings, and pence, on the' loth inst.
Mr: W. HanonoVE moved that Messrs. Rishworth and
Hartley be requested to attend the Meeting.
This motion being seconded and carried, Mr. Wood was de-
puted to wait upon them.
Mr. T. TIERRY moved that n Committee of twenty-one
gentlemen (whose names were afterwards added) be formed,
with directions to watch the, proceedings under the commission,
anti to use all their •endeavours to prevail upon the York
bankers, or other proper persons, to undertake the office of
assigneex.
The motion being seconded, it was also carried.
Mr. RISHWORTH having just entered the room, stood for.
ward, and geld-that having received one of the hand-bills, call-
ing this meeting,- anti not:being aware that any thing unplea-
sant was going on at York, he deemed it is duty, as well us
that of Mr. Hartley, to conic over, in order to show that he
(Mr. Rishworth) hat not run away to America, as had been
reported. Had they had the entire management of their own
;Alin, they would not have been placed in the situation they
then were. lie had a statement in his pocket, drawn nut by
Ulsterman
and Co. themselves, from whion it appeared that,
at the time they refused their acceptances, they had 95,0004 of
Wentworth and Co.'a securities in their hands. More Mr.
Rishwarth presented the statement to the Chairman, who
handed it to any gentleman desirous of seeing it.] '!'here was no
necessity for them to be in the situation they were; all the part-
ners of the firm were men of property, winch property was the
creditors" and should be theirs until they received 20s. in the
pound. He (Mr. Rishworth)had been a slave for six and thirty
years, and had brought up 'a large family with much credit.
He had accumulated, by his industry, a nirtune, or at least he
thou ht he had. He believed he was now worth 100,0001. and had
but 1001. to begin with. , His property was inland—he had not
spent it, he had securities fbr the whole, and every yard he had
purchased was worth nearly double the Money he had given
for it.° As long as he had it shilling it 'should be given to the
creditors? until they were all paid in full. Although they hat!
deemed it requisite to pursue the line of conduct they had, it
was not their intention (if possible) to go on with the bank.
TO intl. It had, been none to prevent their being arrested, es
they were, determined not,to pay one creditor in preference to
another. He doubted not but there would be a veryhandSonie
surplus, after every creditor lied received In the vitind,
provided they would give them time to wind up theirAtflititi.;
(tanker's account
~s,ssankers' accounts
would not let the money
If army (lentleman was appointed to soperietend the winding
up or the accounts, he would lead esierY, aSsisentice, but
fishing to get into
he would not act with a blackguard.
plenty of fish in
was not like a common ,tradesnuitt's,
bore interest. He hoped the creditors
be spent amungat attornieS—they should not spend a guinea, if '
(it 'if the
to the
tchoeu could
ntlrpni: .beelthi
tee r eareayskangrewetatiedreeeiwoet; e
the net. If the parties were alloweti t,m wind up their own itf.
fairs, there would be-a-very
lawyers wound them up, be could not tell what would, be left.
handsome surplitss ;
Mr. WHITT:HI:AD said that the meeting was greatly obliged,,
to Mr.. Rishworth for the honest open statement which he had
made ; but as time was to many of vast importance, Mr. R.
would further oblige if he could mention any time when they
were likely to make a payment.
Mr.IIIBIIWORTiI replied, certainly before title month was
out itomething would be done. There never was tiny invasion
for their stopping payment at all. The night preceding the
day on which Alasterman and Co. refinted,their acceptences,.
they (Masterinan and Co.) wrote to them to say that unless
their remittance the next day was in each they should rofase
their acceptance% What was to be done ? The remittance we*
at the very time on its road to London. Alasterman and Co.
sent to every banker and to every bill-kroker in the city to
tell them what they had done, but nevereent to Wentworth acid
co.'s clerk, who could in six hours have raise 4 one hundred

PRICE SEVENPENCEd

J.. ,

thousand pounds.- The statement of ;Westerman and Co.,
io which he had before alluded, said that they held (15,1500/. of.
Wentworth and Co. a securities, and that 'Wentworth and 0).
owed them a' cash balance of 113,0001. It also acid, that the
statement halting been drawn out in a hurry; they. (Masternum
and Co.) would most readily rectify any errors. The fact was;
that Wentworth and Co: only owed' them a balance of 4,ooUte
consequently there was a mistake m the onset of 12,0001. • One
fault there had been in his (Mr. Rishwortiee) conduct, wh:reir
he most readily admitted, and that was, he had accommodeted
persons too much.
Mr. '.1% ROOKS was about to move an 'adjournment,. when
Mr. W. limanuovE again addressed the Chair. Ho had
head with pleasure the statement of Al r.itishwoit`i —it 1..“
been made before many witne,es, and he sincerely wished that.
they might live.to see his flattering assertion verified.
Mr. W..llaauativit, in reference to the alleged favourable
statement of :Westerman and Co. in as delicate a Mauneriee ,
possible, inquired if the very different statement -in a heeds'
paper, also alleged to be from .Masterman and Co. was correct-
in the representation that he (Mr. Hartley) and Mr. Cludener
called upon them a very abort time before the unfertunate
'affair, and made certain arrangements.
To this Mr. Hartley declined tiny answer, Mr. Rishworth
having, called out, "` Don't answer that question." The
Chairman therefore said it was considered as irrelevant to the
business of the meeting.
Mr.' W. IlAnuuovE then said, he would only propose one
more question, and if that wee thought an improver one, he
would most readily withdraw it, anti decline further inquiry.
That question was—Did not Masterman and Co. advance, on
security, 33,0(101. for Wentworth and Co. some days after, to
prevent the consequences of an extent?
Mr. Itisuwonalettgain said, " Don't answer that question ;"
and Air. Hartley hettd accordingly.
fir. ANDERSON again rose and said, that although the Wee
ness of the meeting was finished, he felt it right to state (and
1:e did it with the consent of Mr. Itishword), that, Mr. Rath.
worth had that moment declared in fib) bearing that he (Mr.
itishworth) would never consent to the affairs being submitted
to the inspection of any banker. Mr. A. stated this to die
meeting, because the grand object of the labours of the Come.
Mittee would be toprevail, if possible, upon some ofthe bankers
to undertake the office of assignees.
Mr. W. PEARSON—II bankrupts are themselves to choose
assignees, then there is an end of the matter.—The Meeting
then dispersed. .

PLYMOUTH HANK.
The first meeting of the creditors of the estate of the late firm
of Sir Wm..Elford and Co., bankers, took place,
.pursuant to
advertisement, at the Royal 'Hotel in this town, yesterday
(Friday). The great room at the hotel was mach crowded.
Shortly after eleven o'clock the business of the day commenced,
by Mr. Jago drawing the attention of the Cernmissioners to the
situation that Mr. Clarke bore in the late partnetsnip, and sap•
ing that it would be necessary for them. to determine whether
his property was available -to pay the debts due by the firth,
prior to his becoming a partner; or whether it' was only to, be
applied to the liquidation adult portion of the debts actually oc-
curring since he became a partner. The Lourned (ientleman
concluded his remarks by recommending that the accounts of
the estate should be kept in a peculiar way, arising from the
circumstances he had before named. Mr. link replied to this,
saying that he considered that there could be no question but
that Mr. Clarke's property was available for the paying
of all the debts owing by the Sim, without regard to what
period the debts had been contracted. A discussion of a de-
sultory nature now ensued, and which occupied nearly an hour.
The determination of the Commissioners on the subject we could
not learn, from the noise in the room, or whether they decided
tohneitrbedeqbutscistiionn
part all
epariCreditors
n4dieilecetshseanryetdmoicni commenced plorrovtihnligs
purpose, several clerks of the bank were in attendance.—
We understand that the assignees will be elected this morning
(Saturday), and that only creditors who have proved debts
will be eligible to vote. It appears to us, from the various
opinions given by many of the creditors at the meeting
yesterday, that there is no doubt but that the assignees
will be elected from those gentlemen who were nominated at
the public meeting held at tfie Ouildha”. The amount of
debts proved yesterday, we baVe been informed, exceeded
20,000/. The meeting adjourned at four o'clock till six., vh a
the business again was resumed and at the time of our paper
going to press, the Commissioners were still employed in hear-
mg and determining cases or debt.---( Plymouth Herald.)

L.•
...;
....fl:sij,l47.'-',...-, i ,
iivk7z.
pt