The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-11-30 00:00:00

TIIE LIVERPOOL STANDARD.

THE ROYAL BANK.

A general meeting of the proprietors of this bank was
held in the Bank, yesterday, at twelve o'clock. The ob-
ject of the meeting, as announced in the advertisement
calling it, was stated to be as follows :
" To receive the report of the committee and directors,
which will be presented to the meeting, recommending
the re-opening of the bank, on Wednesday, the Ist day
of December next. To take into consideration the alte-
rations in the deed of settlement -of the company, which
will be submitted to the proprietors as necessary for their
security in future. To take into consideration the call of
£lOO per share made upon the proprietors, and to deter-
mine upon and confirm the acts of the committee of
shareholders and directors in the recommendation of
Preference Shares of £lOO each, bearing interest at 7 per
cent., in lieu of the call ; and on the reduction of the
original shares, from shares of £l,OOO, £5OO paid up, to
shares of £2OO each, £lOO paid up. To receive the re-
signation of the old directors, and to appoint five directors
in their stead."

Shortly after twelve o'clock Josras BOOKER, Esq.,
took the chair: He said, as the medium of communication
between themselves, the directors, and committee, he
threw himself upon their indulgence and kind forbearance,
and bespoke that indulgent consideration for himself and
colleagues which had been extended on two former occa-
sions, and which gave effect and energy to their proceed-
ings (applause). Since they had last met, the attention
of the committee had been occupied in revising the deed
of settlement, and in its altered form it had been placed
in the hands of each proprietor ; also, in furnishing a
third report for the information and approbation of the
proprietors, which he should now have the pleasure of
reading :
Report of the Committee appointed at a Meeting of
Shareholders of the Royal Bank of Liverpool, on the
6th of November, 1847.
" Your committee have now the satisfaction of laying
before you the result of their deliberations since the
adjourned meeting of the 6th instant. The former report
was necessarily incomplete, and only of a recommendatory
nature, as the committee were then much restricted for
time in examining such numberless details.
" They have since been almost incessantly engaged in
arranging the affairs of the bank, and they rejoice in
being able to report that the available assets will exceed
their expectations, so considerable a sum of money
having been received in reduction of current accounts.—
(Cheers.)
" The important exception is that of Messrs. Barton,
Irlam, and Higginson, against whom a fiat in bankruptcy
has been obtained ; and prompt measures have been
adopted to secure for the bank, in common with Messrs.
Barton, Irlam, and Higginson's general creditors, every
advantage that can result from the winding-up of that
concern, and they trust that, under good management,
and with active and energetic co-operation from all parties
from whom assistance can reasonably be expected, the loss
resulting from the large debt will not be so great as was
originally apprehended. (Loud cheers.)
" Your committee have directed their most anxious
attention to the Deed of Settlement, which has undergone
a complete and searching revision ; and, as a copy of the
various alterations proposed by your committee is now in
the hands of each shareholder, it will be perceived that
every precaution has been taken to secure an efficient and
responsible executive, and placing' such a controul over
the general management of the affairs of the bank as will
protect the shareholders from such results as the% have
lately had to deplore; while the operations of the bank
will remain unfettered for every legitimate purpose, with
the fullest guarantee for the future stability of the esta-
blishment. (Applause.)
" Your committee have pleasure in stating, that satis-
factory arrangements have been entered into with the
London Joint Stock Bank, the directors of which have
met their wishes in the most liberal manner ; (cheers)
and nothing is now wanted to confirm their arrangements
but the sanction of the shareholders to the re-opening of
the bank. (Hear, hear.)
" A considerable number of preference shares have
already been subscribed for; and your committee have no
doubt that, when the remunerative character of these
shares is taken into consideration, coupled with the secu-
rity and advantages afforded by the alterations in the
Deed of Settlement, the remainder will be speedily taken ;
thus giving the bank a broader basis, with an increasing
capital, and offering the most favourable inducement to a
much larger constituency.
" Your committee have pleasure in stating, that the
manager has met the exigencies of the occasion, with
reference to his own remuneration, in a manner that must
be gratifying to all. (Loud cheers.)
" Your committee have now only to add, that the
arrangements which they have made, and the recommen-
dations which they offer, are the result of the most serious
deliberation ; and they feel assured that the sanction of
the shareholders will be cordially conceded, so that the
bank may resume business on the Ist of December next,
according to the notification already given."
The report was received with considerable applause.
The CHAIRMAN said, I have to congratulate you, gen-
tlemen, on the prospects of the re-opening of the bank
under such favourable circumstances. I am not fond of
extravagant professions, nor is this the time or place for
making a long speech, and more particularly when we
look at the work (the reading, we understood, of the
Deed of Settlement) which our solicitor has before him.
But myself and colleagues must be insensible indeed if
we do not feel deeply the marks of distinction, of favour,
which have been shown by the depositors in this bank.—
(Hear, hear 1 and applause.) They .have exhibited un-
bounded confidence in the integrity and the stability of
the institution ; and as to you, gentlemen, who are pro-
prietors, I am sure your duty will be promptly met by
taking up the preference shares, and vieing with each
other in efforts to launch the gallant barque once more to
the place it formerly occupied. (Applause.) Gentlemen,
there exists between the proprietors and the customers of
this bank a reciprocity of obligation. (Hear !) The well-
being of both are intimately connected. Your future di-
rectors, I am sure, will bestow that unremitting attention
to this important subject which it merits : and, gentlemen,
I should belie my own feelings, and those of my respected
colleagues, if I were not to confess to you the deep feel-
ings we have, and the pleasure we feel, in associating our
names with the resuscitation of the bank (applause) ; an
event so anxiously looked for, and so well calculated to
restore commercial confidence both at home and abroad,
its benefits not being confined to depositors, or share-
holders, or customers, but directly and indirectly to the
community at large. (Loud applause..) Before I close
my observations, gentlemen, permit me to express one
wish—that a kind Providence may so guide your new
directors, in their future proceedings, that they may in-
deed deserve success. (Applause.) I have now to move
from the chair, that the report now read be received and
adopted, and that the Bank be re-opened on the Ist of
December next. (Loud applause.)
Mr. S. HOLME said, in seconding the motion, which it
was his intention to do, he was sure they would not con-
sider him presumptuous if he offered to the meeting a few
observations. ( Cheers.) He could not help contrasting
the position in which they now stood with that unfortunate
assembling together a few weeks ago, for at that period,
even solvent men looked upon the state of affairs with
anxiety and fear •, but as men, when they act precipitately,
always act foolishly, so he then thought, and having moved
the appointment of that committee, he was gratified it
had been appointed to investigate their affairs. ( Loud
cheers.) It was now, therefore, a matter of congratula-
tion, whilst they were bound to admit the shareholders
must submit to a great loss, that they had neither lost
their honour nor the bank its credit, and that the whole
of the deposits, together with the balance of current
accounts in the bank were just as safe as if they were in
the Bank of England. (Loud cheers.) He congratulated
them that whilst that bank was in a position to give all
the legitimate accommodation which could be reasonably
required, he believed speculation with the money of the
bank would be discountenanced, and it would be impossi-
ble in future for any one or two large concerns to absorb its
capital. (Applause.) He had no doubt the future direc-
tors of the bank would learn prudence from the past, and
that it would again possess what it did previously, namely,
that public confidence which was part and parcel of the
great arch of Britain's credit. (Continued cheers.) He
could not reflect, without shuddering, on what the conse-
quence would have been if the bank had wound up its
affairs ; and he told mercantile men that, by such a
course, prudence must have been sacrificed ; and it
would have been difficult to say where the mischief
would have ended had the bank been called upon to adopt
the resolution which was proposed. (Hear, hear.)—
He (Mr. Holme) hoped the warning which they had re-
ceived, locally as well as nationally, might be the means
of checking that inordinate speculation which had become
a national misfortune, if not a national crime ; that good
may have accrued to the country from the interregnum
which had occurred in the business of the bank,. and that
its operations may for the future be based upon the only
proper footing they ought to be based on, namely, labour
and industry, and not upon the most baseless of all,
namely, reckless speculation. (Hear, hear, and cheers.)
He thought it necessary to say a word or two upon a
practical subject. He attended a meeting of the com-
mittee, at which a resolution had passed that each depo-
sitor should have six per cent. for his money. He was
glad to learn from all the depositors with whom he was
acquainted, that such a determination was most satisfac-
tory, and he trusted that spirit of forbearance would still
be manifested by them which would enable the bank to
resume its operations. (Hear, hear.) Another point to
which he wished to call their attention, was the very hand-
some manner in which Mr. Chaffers has! met the difficulties
with which he had been surrounded. (Cheers.) By the
present management, the salary which Mr. Chaffers was
to receive would be reduced to what it was when the bank
was first established. (Applause.) Then the committee,
after much and serious consideration, had resolved to ad-
mit that class of the community to which he had the
honour to belong, by reducing the value of the shares, so
that the £lOOO shares, with. £5OO paid up, were now to
be converted into five shares of £2OO each, with £lOO paid
up. By this means a larger basis would be given to their
operations, which he trusted would result in a larger consti-
tuency as well as increased capital. It had been decided
that there should be two paid directors, which would he
a guarantee that there would be a proper supervision over
the affairs of the bank, and they, together with the mana-
ger, would afford a check as much as could be that such
a calamitous event as had recently happened would not
happen again. (Hear.) There would also under the new
deed of settlement be a board of seven directors, who
would form a court of appeal, by which questions in which
the manager and the paid directors could not agree
would be decided. Another provision of an important
character was, that for the purpose of carrying on the
legitimate objects of commerce, capital would be advanced
to the extent of £50,000, but beyond the sum of £20,000,
which may be advanced with the consent of the executive,
security will be required from every man who wishes to
exceed that sum. These were some cf the principal mat-
ters contained in the proposed deed, but he should not
consult his own feelings if he did not bear his testimony

to the services afforded by the committee. They had
been almost incesaantly engaged its affairs. Mr.
Highfield, Mr. Booker, and Mr. Tyrer had been to Lon-
don, no doubt at considerable personal inconvenience,
and had given their service to the bank almost day
and night. ( Hear.) His learned friend Mr. Lowndes
had also exhibited such a knowledge of commercial
law as somewhat startled him (Mr. Holmes.) He, there-
fore, trusted the new deed of settlement would be satis-
factory to all. (Cheers) Allusion had been made to the
gallant ship. He trusted he might be allowed to take up
the idea, and add that she had now been strengthened—
a quantity of new timber had been placed in her—she has
been newly rigged, and it was for the meeting to appoint
proper officers to command her. (Cheers.) He trusted
they would appoint such as would not be afraid to
take the command : and looking at the rich freight she
carried—the welfare and prosperity of a community like that,
and her operations upon the world (for Liverpool traded
with all the world), he envied not the feelings of the man
who could not say " God speed her."—(Applause.) He
hoped every one present would be able to join in the lan-
guage of their bills of lading, and say—" So God give the
good ship a safe and proSperouslivoyage,"—(Cheers.)
Mr. Holme concluded by seconding the motion, and ex-
pressing a hope that it would be carried without one dis-
sentient voice.

Mr. A. F. JONES said that having had the honour of
seconding the motion of Mr. Holmes, for a committee to
be appointed, he had now great pleasure in supporting the
motion.

The motion was then put and carried unanimously, and
with acclamation.

The CHAIRMAN said the next business was to call
upon their respected friend Mr. Lowndes, to read the
clauses in the deed of settlement. _ _

Mr. LOWNDES then proceeded to read the several
clauses, and the vote was taken upon each :
"Abstract of the Deed of Settlement.
" ART. 2 provides that the capital be £2,400,000 ; that
the original two thousand £l,OOO shares be converted into
ten thousand £2OO shares ; that five £2OO shares give the
qualifications and votes of an original £l,OOO share ; that
four thousand £lOO preference shares be created, two to
be allotted to each original holder, and their liability to
commence with January 1, 1848."
In answer to questions from one or two proprietors,
Mr. LOWNDES said, to each holder of shares to the
amount of £l,OOO, there would be allotted two preference
shares ; but if the proprietor did not signify his intention
of holding those preference shares, they would be allotted
to third parties, in which case the original proprietor
would not be called upon to pay the £lOO deposit due in
January next.
The CHAIRMAN thought the preference shares would
have a very beneficial effect. He had not the honour of
proposing the measure, but it had been proposed by one
of his colleagues, and he considered it a very clever pro-
posal.
The clause was then carried unanimously.
4.—The paid-up capital only to be employed in advances
on open account.
Mr. LOWNDES observed on this, that the original deed
gave very ample powers, and that was a modification of it.
Mr. A. F. JONES—That is to say that the rest, when-
ever it may accrue, shall not be used.

The CHAIRMAN—Just so.
Mr. JONES—Either with or without security.
Mr. LOWNDES—It has reference to the clause which
goes to the extent of £50,000.
The clause was then adopted.
s.—The management to be vested in seven ordinary
and two paid directors.—Carried.
10.—The appointment, dismissal, &c., of officers vested
in the ordinary directors.
On this clause, at the suggestion of Mr. Cooper, it was
rendered imperative on the Directors to require security
from officers.—Carried.

11.—The directors to appoint the paid directors, who
must hold three £lOOO or fifteen preference shares, and
whose salary must not exceed £1000;. that Mr. Chaffers
continue manager; and that both paid directors and
manager be removeable, under certain conditions, by the
directors, but, otherwise, only with a concurrence of a
majority of the proprietors.
A PROPRIETOR objected to the salary of £lOOO.
The CHAIRMAN said it was expected the directors
should give their attendance from ten to four o'clock every
day, but their duties would be more onerous at first than
after, as at present the winding-up of great concerns would
require their utmost attention, and therefore he did not
think it too much, for when they had to deal with hundreds
of thousands they ought to have men of business.
Mr. R. ZWILIHENBERT would limit the salary to £5OO
after the first year.
Mr. HoLmE could not agree with the last speaker. They
could get, no doubt, ten thousand men who would jump
at £5OO a year, but what would they be worth. He was
of opinion that to adopt the course proposed by the last
speaker would be penny wise and pound foolish,
Mr. COOPER would leave it to the directors.
Mr. ATKTNSON proposed that the salaries should be
fixed annually.
The CHAIRMAN thought no man would leave his busi-
ness on such terms.

Mr. HOLME contended the matter ought to be left with
the directors. He would not consent to act as a director
if he was to be a mere automaton.

The clause was then adopted.
17.—That the board meet once a week, to examine
the balance sheet of the previous week, and providing
how special meetings are to be convened. Carried.
24.—That the paid directors and manager be a perma-
nent committee, two being a quorum, to determine upon
advances or the opening of accounts ; applications to be
refused if one of the permanent committee object ; that
the limit of advances be entered in a book, to be revised
once a week, and altered when necessary ; that the com-
mittee from time to time revise securities received ; that
no advance be made beyond £20,000 without security, and
that the highest advance on any security whatever be
£50,000; that letters of credit be considered advances
from the time of issue ; that the bank shares be no secu-
rity; that any credit must be withdrawn, or reduced, if
one of the permanent committee shall at any time desire ;
and that the general directors possess a checking power
over the decisions of the special committee.
Mr. COOPER objected to the sum of £20,000 being ad-
vanced. He thought £lO,OOO quite high enough without
security, and £25,000 with. He thought making snch
large advances would shut out tradesmen from being ac-
commodated.

The CHAIRMAN said it did not necessarily follow that
every one who applied was to he accommodated to the full
extent ; and as regarded the limit proposed by Mr. Cooper,
they should remember that it was on active capital that
the bank made money. He was of opinion that if the
proposal was adopted they might as well close the door of
the bank, for no mercantile firm would look near them.
The clause was then Carried, Mr. Cooper's proposition
being withdrawn.
25. That directors, paid and unpaid, and manager, have
no vote on advances, &c, when connected in business
or united by relationship with parties applying, &c. ; that
no advances be made to a director without consent of paid
and general directors and manager; and that paid direc-
tors and managers have no advances whatever. Carried.
27. That £lOO on preference shares be payable on
January 10 next ; such payments, when made, to stand
in place of previous call of £lOO ordered on each £lOOO
share ; that if the proprietors do not take up their rate-
able proportion of preference shares by that date, the
directors may sell them as they think fit ; that such sale
shall relieve the original proprietor from payment of call ;
and that the profit or loss fall upon the proprietor to whom
the share was originally allotted ; that the directors be
upon the rietandor:ms,
pro-
portionnoton
£2OO shares ; and that the calls be pub-
eoro callson each a clip share,
lished in the Liverpool journals, &c.
eexmepeoewdienrgedinttohemwakheolefultllo
This was adopted, with an amendment proposed by
Mr. Peel, that a notice should be sent through the Gene-
ral Post to each proprietor of any future call, as well as by
advertisement.

Mr. COOPER said each proprietor had two shares appro-
priated to him, which would make £2,400,000.
The CHAIRMAN.—Yes.
Mr. COOPER.—Then the directors have shares to tha
amount of £160,000 to dispose of.
Mr. LOWNDES.—Yes.

A PROPRIETOR. —Many of them are disposed of already.
32.—That the directors may appoint and invest with
their judicial and determining powers one or more of their
number as a special committee to determine such matters
as may be submitted to them, and yet do•not interfere
with the permanent committee.—Carried.
3.3.—That the proceedings be entered in the books, &c.
—Carried.

34.—That a director must hold in his own right two
original or ten preference shares ; that a bankrupt who
has not paid twenty shillings in the pound, and persons
connected with banking within ten miles of the Exchange,
be ineligible ; and that a disqualified director continuing
to act shall forfeit his shares and pay £l,OOO as liquidated
damages, to be carried to the surplus fund ; but such an
occurrence not to render void the acts of the directors.
After a discussion as to whether brokers ought to be
directors, this clause was carried.
38.—That the present seven directors remain until next
meeting, when two shall retire by ballot, and shall not be
re-eligible for twelve months ; but if an annual meeting
adjourn without appointing substitutes for those who
should retire, the latter shall continue in office.
Mr. JONES suggested that each candidate for the di-
rection should be named before the meeting, and the
proprietors have a list sent them, but it was said that
would form the subject of a bye-law, and the clause was.
adopted.
47.—That the paid directors audit the accounts every
month ; and shall at the annual meeting certify the justi-
fiableness of the dividend declared from the profits.
Mr. JONES inquired whether the clause would go so far
as to show the shareholders what the expenses of the
Bank bad been—the salaries, in fact all the expenses
under the different heads ?

Mr. CHAFFERS said, that, during the last eleven years,
the expenses of the bank were £36,000 ; the profits
£1,175,000, of which £435,000 has been paid in dividends
to the proprietors, and 142,000 yet remains in excess to
the bank, which was not the common per centage upon a
bag-man's earnings.—The clause was carried.
50.—That the show of hands decide a motion at a
general meeting ; but that ten or more proprietors hold-
ing fifty original shares or two hundred and fifty £2OO
preference shares may demand a vote ; the qualification
to vote being, one vote for every original, one for every
five preference shares, and no proprietor to have more
than twenty votes, whatever number of shares he may at
the time possess ; that no vote be allowed on shares not
held three months previously, except as to preference and
£2OO shares when first issued.—Carried. _

55.—That no dividend be made upon original shares
until the reserved surplus fund amount to £lOO,OOO, but
seven per cent. per annum in the meantime to be paid on
preference shares half-yearly ; that £5 per cent. per an-
num interest be paid on original shares upon balance of
original capital ascertained during preceding half-year ;
OW original proprietors 6114 have credit for 0500 on

the Ist Decembc, 1846, being the value of bank-buildings ;
that when the reserved surplus fund shall amount to
£lOO,OOO, and previous to dividend, interest shall be
computed at £2 per cent. upon amount which shall have
carried interest at £5 per cent., and shall be peid on
original shares, so as to put holders on footing of pre-
ference shareholders ; and that, when receipts of interest
shall have been equalized, the balance of profits shall be
equally divided.—Carried.
60.—That a proprietor may henceforth hold any number
of shares.—Carried.

68.—That directors shall regulate the instruments of
transfer of shares.—Carried.

Mr. A. F. JONES expressed an opinion that the surplus
fund of the hank should be invested in some good security,
and not used as floating capital ; so that it might not again
at any future period become totally absorbed.
The CHAIRMAN then moved the following resolution :
—" That the supplemental deed embodying the alterations
this day passed, and removing any inconsistent clause in
the original deed, be prepared for the signature of the
proprietors ; and that the original deed, as so altered, be
printed, and sent to each proprietor."
This was seconded, and carried unanimously.
The CHAIRMAN announced the resignation of the whole
of the old directors, and then submitted a list of eight names
to fill their places :—Messrs. Highfield, Booker, Tyrer,
Shand, Stock, Bibby, Samuel Holme, and Imrie. The
Chairman announced that Mr. William Clare and Mr.
Gibb, formerly directors, declined being nominated again.
Mr. HoLME said he felt himself incompetent to take his
share in the directorship as he should wish. He had taken
a deep interest in the affairs of the bank, but now he must
decline being a director, as he feared he could not afford
the time necessary to do justice to the appointment.
The names were then put separately, and on that of
Mr. Holme being mentioned,
Mr. DOVER said, after the services Mr. Holme had ren-
dered the bank be ought to be a director. He had pre-
vented the bank from sinking, and he thought it was
necessary to have a tradesman on the direction.

Mr. KERSHAW seconded the motion, which was sup-
ported by Mr. Jones, and carried with loud cheers.
Mr. HOLME said, after what had passed, he could no lon-
ger refrain from giving them his best services. (Cheers.)
The other names were then put, and the Board was.
formed cif Messrs. Josias Booker, John Highfield, James
Tyrer, Francis Shand, John Stock, John Bibby, and S
Holme.

Mr. COOPER proposed a vote of thanks to the committee
for their valuable services, the attention they had paid to
the bank, and for the admirable manner in which they
had carried them through the difficulty.
The motion was seconded and carried unanimously.

The CHAIRMAN acknowledged the compliment, and,
after a vote of thanks to the Chairman, the meeting
separated.

The barque Laidmans, belonging to Messrs. H. Moore
and Co., was last week discharged of a general cargo from
Calcutta, and the whole deposited in the transit shed, in
the short space of nine working hours. The men were
under the able superintendence of Mr. Duncan Campbell.
CHARGE AGAINST A POLICE-OFFlCER.—Yesterday, at
the Police-court, a young man, named George Austen,
preferred a charge against Police-officer Isaac Kendall,
for having violently struck and maimed a poorold woman,
who was selling apples near the Post-office, on Friday
night. His evidence was supported by a carter, named
Edmunds. The officer denied the truth of the statement,
and evidence being heard for the defence, Mr. Rushton
was not satisfied that the charge was made out, and dis-
missed the case. _ . _

LYING-IN HOSPITAL.—The annual meeting of this
excellent institution will take place on Thursday next, in
the lecture-room at the Medical Institution. The Mayor
will preside. Some ten months ago, the Rev- Dr.
M`Neile suggested that there should be a town's meeting,
to bring forward the claims of this institution upon public
sympathy,• and we trust that, now that there is an oppor-
tunity of making its necessities known, there will be no
indifference shewn in urging the benevolent to come for-
ward. It is expected there will be many ladies present
on the occasion, and several of the clergy have promised
their aid in addressing the meeting. A very little exer-
tion would release the hospital from its pecuniary diffi-
culties.

SOUTHERN HOSPITAL.—We perceive that on Sunday
next, the annual sermon will be preached in St. Barnabas'
Church, in aid of the funds of this most valuable institu-
tion by the Rev. Thos. Nolan, the kind and indefatigable
honorary chaplain to the charity. The Mayor has signi-
fied his intention of being 'present, as have also several
members of the. corporation. We are sorry to learn that
at the last meeting of the friends of the hospital it was
stated that there was a balance against the treasurer of
£4OO. In addition to this a further sum of £2OOO is re-
quired for the extension of the building, to meet the in-
creasing wants of the south end of the town. We hope,-
therefore, that the chaplain's benevolent and scriptural
appeal will be responded to in a manner becoming this
great town and the requirements of so useful and inter-
esting and useful a charity.
A SERIOUS CHARGE.—A fine looking seaman (whose
name we did not learn) was yesterday charged before
Mr. Rushton, on depositions taken in British America,
with being concerned in causing the death of a sailor
named Creen. Mr. Rushton asked him if he was pre-
pared with his defence, otherwise he would give him
time. It seemed the prisoner's wife, who appeared,
had, at his request, written to Ireland for an important
witness in his behalf, but •she had not money to transmit
to defray his expenses over. The prisoner had stated that
he had received no wages from his ship for three years.
Finally, Mr. Rushton kindly undertook, as the case was
an important one, to summon any witnesses that were
deemed necessary for the defence. He also gave permis-
sion to the wife to see her husband in prison, and post-
poned the hearing of the case until Monday next.
CROSBY SEA BANK COMPANY.—Yesterday a meeting
of the proprietors of this company, was held at the
Clarendon-rooms, to consider a notice received from
Messrs. Avison and Pritt, solicitors, to Mr. W. R.
Anderson, for payment of the sum of £3OOO, which that
gentleman had advanced upon the mortgage of the pro-
perty. About twenty proprietors were present on the
occasion. It appeared that twelve months ago, Mr.
Anderson gave notice for the money to be paid, and in
consequence of that noticenot having been complied with,
his attorney had received instructions to foreclose or sell
the land, if the matter was not satisfactorily arranged
within a given time. The meeting lasted about an hour,
during which, a considerable discussion amongst the
shareholders present took place, but no definite-proposi-
tion was brought forward, and ultimately the meeting
was adjourned to Wednesday, at the same place.
NARROW ESCAPE OF A CHAPEL FROM DESTRUCTION
BY FIRE.—On Sunday morning, a fire was discovered to
have taken place within the Baptist chapel, at the top of
Pembroke-place, and excited much anxiety in the neigh-
bourhood. The intelligence, which was dispatched with
all possible speed, reached the Fire Station at about ten
minutes before nine o'clock, and Mr. Hewitt, the super-
intendent, hastened to the spot with three engines and
the water-carts. Part of the floors had ignited, and the
fine building was in imminent danger, but by the exer-
tions of the firemen, the flames were completely subdued
in less than an hour. The damage was comparatively
small, considering the threatened danger; only portions
of the floors at the east end of the chapel being burnt.
Morning service was performed soon afterwards, the Rev.
Mr. Birrell, the respected minister, officiating. The fire
arose from the over-heating of the flues, the stoves having
been lighted at an early hour to warm the interior of the
chapel.
UNPROVOKED ASSAULT BY A MAN UPON HIS WIFE.
—A respectable-looking young woman yesterday appeared
against her husband, William Aikin, a sailmaker, for a
gross assault committed upon her. Mr. Dodd appeared
for the complainant. It appeared that owing to the
prisoner's maltreatment and drunkenness, the plaintiff
had entirely left him and had gone into the service of a
[ lady named Trotter, who gave her an excellent character.
r On Sunday, while Mrs. Trotter and the family were at
Church, prisoner; went to the house,. and knocked and
rung at the door, which complainant opened, but seeing
the prisoner closed it against him. He then rang so
violently that he broke the bell-wire. Being alarmed
she ran out by the back door for the police, where prisoner
met her and struck her violently on:the face, bursting her
nose. Mr. Rushton said the prisoner must not be allowed
to destroy the complainant's prospects in life, as no family
would employ her if such conduit' continued ; he must
therefore pay- a fine of 20s. and costs for the assault, and
further find sureties to keep the peace himself in £3O, and
two others in. £2O, or be imprisoned two months.
ILLICITDISTILLATION.—Yesterday, at the police-court,
two men—Thomas M'Arthur and Michael Breen—were
charged with working an illicit still. On Saturday after-
noon, owing to information received, John Henry Sproles,
an excise officer, went to the cellar of a house No. 12,
Queen-street. He had previously obtained from the
landlord of the premises, Mr. Dunn, a description of one
of the prisoners (M'Arthur), one of whom was the tenant.
A police officer was with Sproles. M'Arthur made his
escape through the house, on being seen; was pursued by
the police officer, and in his flight threw away a bottle in
Prussia-street, and another afterwards, before he was
captured. The other prisoner was stopped with 2 gallons
of whiskey, new from the still—a sample of which was
produced. A still was found in the cellar, and some
"low wines," the first produce of the operation in making
whiskey. M'Arthur wished to make it appear that he was
not the tenant, and, that the cellar was let to a man named
Taylor. This, however, he failed to prove, and it appeared
that he had taken it himself for the purpose, as he said, of
melting tallow. He was also seenbv a witness to open the
cellar, and the other man to roll in a. cask. The cellar had
been let to Mr. M'Arthur only a fortnight ago, at 2s. 6d.
a-week.—M`Arthur was fined £3O, or to be imprisoned
three months.; and Breen £25, or to be imprisoned for
the same time.
MAKING BASE COIN.—An old man named Patrick
Connor, was yesterday brought before the police magis-
trate, charged with making counterfeit coin. Police-offi-
cer Gisenthwaite stated that the prisoner occupied a cel-
lar, No., 110, Scotland-road. From information received,
that the prisoner was concerned with' a gang of coiners,
the officer and another proceeded to the place on Satur-
day night. While descending the steps of the cellar,
outside of which a few old articles of iron were placed for
sale, they saw the prisoner busy with a mould in his hand,
which he, on seeing them, endeavoured to break, but :he
was taken hold of, and the mould—after being broken in
the struggle, and from which a base half-crown dropped—
was taken from him. The prisoner, after being hand-
cuffed, said, " I am done now, this will be seven years for
me." He had resided in the cellar for six years. A pan
was found on the fire containing some molten white metal,
and some pieces that had not been quite dissolved, having
apparently just been thrown in. In the cellar were also
found nineteen base half-crowns, apparently from the
same mould, and another mould for the making of shil-
lings. The depositions were ordered to be taken ; and (as
is usual in such eases) the officers of the crown are written
to, in order to ascertain what proceedings are to be taken
against the prisoner, who in all probability will be com-
mitted for trial at the assizes,

Nov. 30, 1847.

LATEST INTELLIGENCE.
(BY EXPRESS.)

THE PURCHASE OF THE WATER COMPANIES

PROCEEDINGS IN LONDON YESTERDAY.
(Prom our own Correspondent,)
The proceedings in this case commenced yesterday
morning, (Monday) shortly after 11 o'clock, before Robert
Stephenson, Esq., the Arbitrator. Mr. Sergeant Wrang-
ham opened the case on the part of the Liverpool and
Harrington Water Company, in an eloquent and argumen-
tative speech, which occupied nearly three hours in
delivery ; he traced the progress of the Company from its
commencement up to the present time, and showed the
progressive increase of the company's resources, and the
great prospective income reasonably to be anticipated in
the event of the company continuing to carry on the
works. ge concluded by calling on the arbitrator
to •award such compensation as the nature of the'
case demanded ; and, as in the case of the Manchester
and other Water Works purchased by corporations,
a sum equivalent to at least 25 years' purchase of the
present net annual rental of the company, be awarded,
and an additional sum in consideration of the prospective
increase of the rental ; irrespective of this amount, which
was left for the decision of the arbitrator, the sum de-
manded for the works was £570,000.
Mr. Harmood Banner was called by Mr. Wrangham to
prove the accuracy of the various documents, and his evi-
dence was objected to by Mr. Crompton on the part
of the Corporation in consequence of his being said to
be an interested party. The objection was overruled by the
arbitrator ; his evidence went to show that the documents
furnished by the company were strictly correct, and
that the company had always been enabled to meet
the demand upon them for water, and that they
were even now in a condition to give a greatly increased
supply, if nedessary. Several letters were read to• and
from the local committee and the council—one from the
agent of the Harrington Company, urging upon the coun-
cil the propriety of making an immediate purchase, which
the council then declined to do. At the close of his exa-
mination, Mr. Crompton objected to cross-examine until
such time as the Corporation accountant had examined
the books and accounts of the company. An arrange-
ment was made with both parties for doing so forthwith
and the court adjourned at a quarter before four o'clock,
until half-past ten o'clock to-day (ruesday).

LONDON CORN MARKET.-YESTERDAY.

The market to-day was but moderately supplied with Enir-
lish Wheat, which met a brisk sale at fully the currency of this
day week. Foreign supported late rates, although the demand
was not so extensive. The like remark applies to barrel Flour.
Floating cargoes of Indian Corn in improved request, but
being generally held for Is. to 2s. advance, business was checked.
The finest samples of malting Barley are scarce, and not
hwer, but secondary sorts dull, at a further decline of Is. per
quarter. Malt cheaper.
Egyptian beans steady, but Beans and Peas generally Is. to
2s. lower.
The sale for new Oats continues most difficult.