'ti t 3irtruptii5.
The most notable event of the week in London has been the stoppage of the Royal British Bank. It has been known for some time past that there was something amiss with the bank : the manager resigned, di- rectors retired, and new ones were called in. At the last half-yearly meeting it was intimated that there had been more than ordinary losses, and the dividend for the half-year was reduced from the usual 3 per cent to 2 per cent ; it also came out that advances had been made, on ample securities it was said, to the late manager. The directors in their report said, they had "determined, with due regard to the permanent interests of the shareholders, to declare a dividend of 4 per cent, which will enable them to make more than ordinary provision for bad and doubtful debts." An "important accession of custom" was described as resulting from the removal of the chief office to Threadneedle Street, and a "corresponding increase at the principal branches" was an- nounced. The reserved fund was at the same time stated at 15,2621. 11a. 3d. Of course the truth of these statements will become a subject of inquiry. Some persons did not place faith in them, for sellers of shares soon pressed forward. Before the meeting, the prices of the shares were below par ; subsequently there was an alarming fall—" alarming" to the depositors, and inducing many to recall their funds from the bank's custody; the shares, on which 601. had been paid, are quoted in our own list for the last four weeks at 38, 36, 35k, 29 ; subsequently there was a further fall, until, when the suspen- sion was known, they were sold at 20, and soon after that at 22. For two or three days before the stoppage, there was a sort of panic, which increased, till, about eleven o'clock on Wednesday, the demands for money that morning having been larger than ever, the directors ordered the doors to be closed, and posted a notice saying "the business of this bank is suspended, pending negotiations." The daily press had been silent on the position of the bank, except oc- casionally calling attention to the sales of shares ; but on Wednesday the City writer of the Times stated, that "pending negotiations are likely to- be concluded tomorrow [Wednesday] for taking up the business of the Royal British Bank." These negotiations failed. The Times says they were with the National Bank.
The failure of the bank is ascribed to an improper or imprudent method of managing its affairs,—allowing the late manager and directors to have large advances ; to an entanglement with a mineral speculation in Wales ; and to losses incurred through advances upon a low class of securities. The share capital of the bank is 300,0001., with 150,0001. paid-up. According to the last return, there are 289 shareholders. Besides the head office in Threadneedle Street, there were six branches in various parts of London. The last half-yearly report gave the amount of the liabilities of the bank to depositors as 842,4281. ; and its assets consisted of discounted bills, &c. 810,2041., "investments in Government Stocks and cash" 174,3641., and property in buildings, &c. 23,6801. The prospects of the liquidation are gloomy as regards the sharehold- ers; while depositors, if eventually paid, will experience more or less inconvenience from delay in obtaining their money. The exact position of the bank is not yet known, but Mr. Coleman, the accountant, is now busy investigating its affairs. Meanwhile, it is supposed that the share- holders will lose all their paid-up capital—perhaps be called on to make further payments to satisfy the creditors. It is said that 100,0001. is. sunk in the Cefn Iron-works ; that advances to the late manager and directors have left a deficiency of 50,000/. ; and that bills of Mr. Edward Oliver of Liverpool and Westminster Improvement Bonds are among the "securities" of the so-called assets. The "cash credits"—sums owing by customers who have, on the " Scotch system," been allowed to draw on the bank for certain amounts beyond what they have paid in—are put at 150,000/. ; and as these represent a large number of small accounts, a good deal of trouble and delay may be expected in realizing them. The ran" is supposed to have reduced the liabilities to some 600,000/. The asset of "property in buildings" will probably turn out a poor one. It is said that the present directors are free from any charge of obtaining advances for their own purposes. According to the charter of the bank,. upon one-fourth of the capital being lost the directors were bound to call a meeting, the bank being then liable to dissolution unless share- holders to the amount of two-thirds should agree to carry it on and to pay off all dissentients.
Publioans and small shopkeepers are said to be large sufferers by the stoppage. One man, who had deposited 600/. as security for the pur- chase of a tavern, arrived in town to draw out 20001. from the bank, and found it closed.
Directors, shareholders, and depositors, are all engaged in consulting on the affairs of the bank. A statement is to be laid before a meeting of shareholders on the 20th. After that, the affairs of the bank will be wound-up by the directors ; or the shareholders may apply to the Court of Chancery to appoint a receiver ; or lastly, the bank may be taken into the Bankruptcy Court—a creditor initiated a proceeding of that kind on Thursday.
The parish of St. James's Clerkenwell, deprived of its incumbent by the death of the Reverend Mr. Falkner, is puzzled how to get another pastor by legal and proper methods. Hitherto the parishioners have elected their minister ; and the last election, in 1839, was not the most decorous of proceedings—bands, flags, open public-houses, and no end of speeches. Now it is suggested, that under Sir Benjamin Hall's new act the right of election belongs to the Vestry. In their dilemma, the paro- chial authorities have sent in a " case ' to Sir Fitzroy Kelly.
A hard case in connexion with the stoppage of the Royal British Bank was brought before Sir Chapman Marshall on Wednesday. Mrs. Chipp had 3201. deposited in the bank ; she received news of the death of her hus- band, a master in the merchant-service ; she went to the bank on Wednes- day morning and drew out her money ; she mentioned her position to an officer of the bank, and that she wished to place her money where it would. be safe; he answered that it would be quite safe in the British Bank, and she therefore redeposited it. In a quarter of an hour after this the bank stopped. Alderman Marshall sent Roe the officer to the bank with the widow. The directors said they durst not pay the money back to Mrs. Chipp at once, but that they had no doubt everybody would eventually be paid in full ; and with this assurance the widow was obliged to be satisfied.
Mr. John Cooper, until very recently. a partner in a mercantile firm in Thames Street, was charged at the Mansionhouse, on Saturday, with utter- ing three forged checks on the Royal British Bank. Mx. John Coltson, a commission-agent, has an account at the bank ; he has permitted his check- book to lie about in his office; Mr. Cooper of late has frequently been at Mr. Colleen's and has made excuses to send out the clerk, so that he would have an opportunity to abstract blank checks in his absence. Three checks, for about 701. altogether, purporting to be drawn by Mr. Colleen, were cashed by the bank : they were clever forgeries. It is alleged that they were writ- ten by Mr. Cooper, several witnesses declaring that the writing in the body of each check was Cooper's : it is a curious circumstance that there is a ge- neral similarity in the handwriting of Cooper and Mr. Coltson. Abput three weeks since, Cooper got a check from Mr. Colleen in exchange for 201. In gold. An officer stated that he believed he should have another charge to prefer against the accused, as he had found on him an order for a check- book signed " A. Getty and Co.," and addressed to the bank of Rogers and Co. Mr. Wontner, for the prisoner, said he believed he should be able on a future occasion to make a complete answer to the charge of forgery. Cooper was remanded.
On Thursday, Mr. Cooper was reexamined; and a number of witnesses deposed to facts strengthening the case against him. Mr. Mullens an- nounced that at a future day a charge would be made against the prisoner, of forging an order for 1501. on the London and Westminster Bank.
George Webb was charged before the Bow Street Magistrate, on Saturday, with uttering a forged order with a view to defraud the London and West- minster Bank. He sent a boy with a note to the Bloomsbury branch, re- questing that Mr. "J. Wright's" pass-book might be given to the bearer. It was at once seen that the note was a forgery. Mr. Wright's name, though he generally signs "J. Wright," is "J. L. Wright," and ho is only known as "I. L.' at the bank ; and the bank had not the book when Webb sent for it. A bank book was given to the boy, and Webb was arrested when he had received it. He was committed for trial.
Mr. Wammill, the Worship Street Magistrate, had to deal on Saturday with "the worst scoundrel ever brought before him"—Joseph Lazarus, a thickset fellow of thirty, accused of outrageously maltreating Caroline Rouse, who has lived withlim for some years. According to her statement, ..,aru.s lived in idleness upon the wages of her infamy, driving her into the streets whenever he wanted money. The other night, because she could not get so much money as he desired, he fell upon her with ferocity. On one occasion he made her go out to thieve : she was detected, and sent to prison. A policeman proved that the complainant was constantly suffering from the prisoner's violence, but hitherto had refrained from prosecuting him. Laza- rus said the woman's statement was all false. Mr. Hammill sent him to prison for six months.
Herman von Dittmar, a German, formerly a Lieutenant in the British German Legion, has been committed for trial by the Westminster Magistrate, for an assault on Major Augustus Yates, also of the British German Legion. Dittmar attacked Major Yates in Cremome Gardens, hitting him on the head and shoulder with a thick stick. The outrage arose out of an occur- rence while the defendant was in the Legion : Major Yates had him tried for disrespectful conduct, and he was reprimanded.
It would seem from statements made before Sir Peter Laurie, that the officers of the Society for the Prevention of Cruelty to Animals are open to pe bribes to refrain from making charges against alleged offenders in re- to the ill-treatment of animals ; also, that other men pretend to be offi- cers of the Society, and thus extort money.
Few persons have been killed by the fall of a ruinous house in the City. In Little Swan Alley, at the rear of Tokenhouse Yard, are a number of small houses, in a very dilapidated state ; they are let out to poor people as lodgings. In one of these houses, occupied by three nominee, there were fifteen persons on Tuesday night. A little after midnight, the tenement fell into a heap of ruins. Speedy and courageous efforts were made to rescue the sufferers from the mass of rubbish and eleven were got out alive, more or less hurt, but not dangerously. Four were taken out dead—Palmer, a dock-labourer, and three stepchildren of his ; his wife and another child escaped, and a fifth child was out at service at the time. It was found ne- cessary to pull down the adjoining house to prevent its fall. The unfor- nate Mrs. Palmer gives a touching account of the incident.
" We occupied the back-room on the first floor of the house ; for which I paid Mr. Crane 2s. a week rent. There were my husband and myself, the baby in my arms, my boy, who was out in a situation, and my other chil- dren, Elizabeth, James, and Thomas Pullen, by a former marriage. We lived in the one room. My husband is a dock-labourer, and I am in the habit of going out washing. On Tuesday my poor boy was kept later at work at his situation than usual, and so his- life was saved. About nine o'clock I was preparing my husband's supper, when I heard a noise as if the walls.were cracking, and saw dust falling from the ceiling. I said to my husband, Oh, I am sure the house is falling.' He replied that I was al- ways thinking so; it was the man in the next room sharpening his knife. I said there was a noise of the man sharpening his knife, but it did not cause the walls to crack or the dust to fall, and I was sure the house must be falling. Nothing further was said, however ; we had our supper, and shortly after ten o'clock we went to bed. Li consequence of the -baby cry- ing, I got up about five minutes to twelve o'clock, and gave him some milk. He fell asleep in my arms ; when I felt the board of the floor shaking under me. This was a few minutes after twelve o'clock. I felt the shaking of the floor more, and I called out to my poor husband, 'Oh good God ! the house is falling save my poor children !' He got up, and said, My God, the place is falling I ' The walls and floors were shaking ; he was try- ing to put on his trousers, and going to the corner of the room where my three children lay on the floor, to save them, no doubt. That is the last I saw of them. I ran to the stairs screaming for Mrs. King to escape with her family. As I got towards the bottom of the stairs, they gave way under me ; and as the house fell I was thrown out with my boy in my arms on to the pavement in the court. I can recollect little more than that I and my baby were saved, and that we were nearly suffocated by the clouds of dust and mortar. My child was hurt by the fall. I have lately had strong doubts about the security of the house, and had talked to my husband about leaving. Last Saturday night week, Mr. Crane called upon me for the 2s. week rent. I said Mr. Crane, you had better have something done to the fire-place, for it's not safe for me or my children ; we shall fall into the cellar some of these days.' There was a large crack by the side of the fire-place. He said that he would call in a few days and look to it. He went away, but nothing had been done to the place."
One workman was killed, and five of his companions were badly hurt, by the fall of a portion of the cornice of a new block of buildings at Welling- ton Barracks, Birdcage Walk, on Wednesday,
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