The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-07-22 00:00:00

WESTMINSTER LOAN COMPANY

On Wednesday, at the Guildhall, London, Sir Peter
Laurie attended to investigate the rights and the wrongs of a
society termed the Westminster Loan and Investment Com-
pany. After a little explanation from a gentleman, whose
name has been mentioned in connection with the society,
Sir Peter Laurie said, now let us get into the thick of it. I
can see Mr. Nicholls here (the soi-disant managing director)
though I do not see such gentlemen when they call at my
private residence.
Mr. Samuel Wells said that he appeared for Mr. Nicholls
as counsel, and chiefly to evplain the inconsistency of his
being known by the name of Whittaker at a previous hearing
of the case.
Sir P. Laurie—Ay, thereby hangs a tale; and I should
like to hear it.
Nicholls—And you shall hear it. I am, as you may per-
ceive a most respectable man, and I did not change my name
without royal authority.
Sir Peter Laurie—You changed your name, then, by no
less than royal authority. (The dour davil ye did, murmur-
ed Sir Peter, as if he was asking himself a question on the
Carse of Gourie). Come, Wells, explain this mystery of the
alias between Whittaker and Nicholls. Out with it, as if
you was speaking in common council assembled.
Mr.Wells—Out with it! Why here is the sign manual
(pointing to a deed) of no less person than William IV ,
attested by the Clarenceux King at Arms, authorising one
Whittaker thenceforth to bear the name of Nicholls.
Nicholls—ls not that enough, Sir Peter?
Sir Peter Laurie—Not for me? ten pounds will transmog-
rify a man at any time. How many Whittakers were there
on the establishment ?
Nicholls—Only three of us.
And the man in the green spectacles, the representative
manager, was your father P—l was the directing manager ;
but you are asking questions which I may be called upon to
answer in another court.

Sir P. Laurie.—Upon my soul I believe you. I think
nothing more likely ; for this is a swindling matter more
barefaced than even the West Middlesex concern. I have
plenty of letters to satisfy me of that. But now let some of
the complainants speak.
George Parr proved (as they would say in bankruptcy) for
£57 ; John Lipscomb, for £56 ; a medical gentleman, (whose
name is withheld at his own request,) for £lOO ; and William
Wright, for £lO.
James Pringle then stepped forward to prove for £5O, and
Mr. Wells elicited the following facts in cross examination.
Pringle said that he was a Journeyman mechanic, and having
deposited £5O, he was induced to become a shareholder by
the offer of one Williams to make him an auditor. His
shares amounted to £ll2 more. Williams, the clerk to the
company, persuaded him into this in the tap of a public-
house, called the Star and Garter, in St. Martin's-lane.
Sir P. Laurie.—Why, Mr. Wells, you are doing the best
part of my work, and I will do the rest.
The witness stated that he had been induced to part with
his money on the strength of a circular from Liverpool, ap-
parently signed by a respectable party.
Sir P. Laurie.—Oh, yes; here is the copy of the circular,
and I place it in the bands of the reporters.
This circular is as follows :

" London, April 15, 1832.
"TO THE DIRECTORS OF THE WESTMINSTER LOAN AND
INVESTMENT JOINT STOCK COMPANY.

" Gentlemen,—llaving at your request come to London
to satisfy myself as. to the character of your institution, I
have much pleasure in conveying to you my sense of the
open and candid manner in which Mr. C. K. Nicholls, the
president director, Mr. Williams, the actuary and account-
ant, Mr. Simpson, the secretary, and other gentlemen con-
nected with the management,or being depositors of the com-
pany, have answered my inquiries, arid exhibited to me the
books, papers, deed of settlement, &c.
" The society may now rely on my cordial co-operation in
Liverpool to promote its best interests. And I have only to
suggest a rigid compliance with the conditions of the deed of
settlement, and the use of the most strenuous efforts to in-
crease the proprietary and the number of the shares sub-
scribed for, so that the company may be placed on a most
perfectly secure basis.—l have the honor to be, gentlemen,
your obedient humble servant,
4, H. WALKER LUCAS,
Stock and Sharebroker, Liverpool."

Sir P. Laurie—Without saying anything about this Mr.
Lucas, the whole affair strikes me as a conspiracy to defraud,
and I wish that I could reach it in that way. And I will
make a remark now, which I wish the press to notice. I have
letters before me respecting this company from Guernsey,
Jersey, Ireland, and indeed from too many other parts. It
is impossible for me to answer them all, and, therefore,
aggrieved parties must apply to me personally here. I will
hear this case again on this day week. There is possibly
some mistake as to time; but I was certainly led to expect
the attendance here of some gentlemen interested for the
reputation of the more responsible characters. Mr. O'Brien
for instance. Here is a letter which I have received from
Mr. Steele, who is well known as not averse to a little agi-
tation.
The note was handed to our reporter, and ran as follows :
" Mr. Steele, a county Clare gentleman, and a member of
the University of Cambridge, presents his respectful compli-
ments to Sir Peter Laurie.
" Deeming that the wish expressed by Sir Peter Laurie last
Friday was an invitation to all persons capable of giving im-
portant information with respect to the proceedings of that
flagitious confederacy, the Managers of the Westminster In-
vestment Society, and their accomplices, Mr. Steel considers
it his duty to attend to-morrow-
" Mr. Dawes, the friend and solicitor of Mr. Cornelius
O'Brien, who is one of those whom, after deceiving him, the
gang is trying to plunder, has kindly consented to accompany
Mr. Steele to-morrow, when he will have the honour of
waiting on Sir Peter Laurie."
" Now," said Sir P. Laurie, " I like people to keep their
engagements."
Nicholls—Why, that is the Tom Steele, notorious for Irish
agitation.
Sir P. Laurie—l care nothing about his Irish agitation, if
he will only help me to get these poor people their money
back again. Mr. Steele's Irish politics have nothing to do
with swindling in England.
[Mr. Steele and Mr. Dawes were in the court about half-
an-hour after Sir P. Laurie was called away elsewhere.
There was evidently a mistake as to the time of Sir Peter
Laurie's sitting].
Sir P. Laurie adjourned the case till next Wednesday,
when an interesting exposure may be expected.

A memorial, which received 30,000 signatures in one day,
has been forwarded by the people of Manchester to M.
Philips, and M. Gibson, Esqrs., members for that borough,
for presentation, in common with all the liberals of the
House of Commons, to stop all supplies to Govenatnent.