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exhortations , and it may be also by the skilful and astute insinuations of Austria , invited France a short time since to unite with England in order that , in a polite an friendly manner , they might give Sardinia to understand that it would be an extremely acceptable measure on her part if she -would make an official and public declaration that she had no idea of infringing or setting aside the compacts and treaties by which she is bound with regard to Austria—in virtue of which declaration the chancery at Vienna would have nd difficulty in immediately despatching to Piedmont a regular envoy , to renew all the relations and mutual obligations
between the states , as good neig hbours to each other . ' Louis Napoleon , however , adds the writer , refused to accede to this proposal , which he thought would imply an injurious doubt of the integrity of the Sardinian Ministers , and would thus " concede to Austria the victory in the cause which now stands for discussion before the diplomacy of Europe . " The editor of the Daily News , in his leading columns , " earnestly entreats " the attention of the reader to this communication , and states that " the writer has access to the best sources of information , and is remarkable for patieut observation and sagacious judgment . * ' Of course , we merely give the statement on our contemporary ' s authoritv .
The Piedinonfcese Senate , in its sitting of the 2 yth ult ., voted a bill for the fortification of Alexandria by a majority of 45 to 8 .
SWTTZERLAXr > . The Federal Council , after hearing the explanation of Dr . Kern , appears disposed to accept the propositions of arrangement recommended personally by the French and English Ministers . These propositions are to be communicated to the Neufchatel Government , which has accepted them . A Berlin letter in the Cologne Gazette , says : — "The Marquis de Moustier , Ambassador of France , has just delivered to the King of Prussia a letter from his sovereign relating to the jSTeufchatel question . The solution of this affair on the basis of the arrangement proposed by the Four Powers is considered certain here . "
RUSSIA . " The Russian Government , " says a telegraphic message from St . Petersburg , " has just decreed that shares in the great Russian Railway Company shall be received at par , like the funds of the state , for all caution money or public deposits . This favour is looked upon as of great value , as the funds which are deposited in this way are very considerable , and the contractors are in the habit of paying a high premium to procure securities for that purpose . "
SPAI . V . The Amicitia , a Dutch galliot , from Cette for Amsterdam , has been forced to take shelter in the creek of Amelador , near Vinaroz , on the coast of Valencia , having been chased by a brigantino :, supposed to be a Greek pirate . A decree in the Gazette appoints the Marquis de Vilirma President of the ( Senate , the Dukes de Veragua and Ahumada , the Marquis de Santa Cruz , and Don Joaquin Casaus , Vice-Presidents . Viluma is of avowed Absolutist tendencies ; the others are of no great note .
UEtXHCM . A communication from the Marquis of Normanby , English Minister at Florence , is published in the Ifo ? -d of Brussels . The object of tho letter is to deny an assertion published in tliut juurnnl that , while at Paris in 1818 , he had been unduly familiar with republicans and insurrectionists , and with the men who conspired against tho throne of Louis Philippe .
UlSNMAUIC . The Supremo Council of Denmark has adopted , by Si votes to 20 , tho bill relative to tho employment of the indemnity for tho abolition of tho Sound Dues . An influential party in Duumnrk is endeavouring to foreo the King to abdicate . His M / ijo .-fty resists , and , it is said , has declared to tho members of the Diplomatic Corps that hia enemies shall never compel him to lay down his sceptre .
THE DANUISIAN VKUXCWAIATUCH . The Moldavian Government , which is opposed to the union of the Principalities , has arrested bo mo gentlemen ¦ who openly advocated that measure . Tho AYieruls of tho imprisoned have brought tl » o case before tho notice of the foreign OohbuIb in tho Principalities , in a document which allege *) that tho Minister of tho Interior grossly insulted his victims , calling thoin " wretches" and " brigamlu of Unionists , " and threatening to put them in irons . Tho persona signing the document ( who include several of , tlio inhabitants of Jussy ) invoke tho Interposition and protection of the Consuls , in order to put an end to conduct " which violates individual liberty , and treats opinion ae a crime . " They add : " Tho Government hna avutontl y jr enattucau itn miuaton of impartiality , o-nd the Moldavians have every thing to fear from tho aytftom which Iiuh been enfcored upou . "
Humours are currant in PaxU of diaagroomonta botwoan the Coinmisalonora for tho settlement of tho Principalities . Two « ppvovo , oC tlio gonoriri conduct of tho Moldavian Govornmont ; two dianpprove j and ono remains neutral . Tlio Unionist Committee hau sent two of its members to Paris , to muko eompliunta on ita own uaeouitf .
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THE ROYAL BRITISH BANK . The examination of the auditors took place on Monday , when the first person interrogated by Mr . Linklater was Mx . Thomas Page . He stated that he audited accounts from June SO , 1858 , to the same date in 1856 . During that time , he had had Mr . Thomas Chandler as a coadjutor , and that gentleman had acted at an earlier period . " W- did not know v / ho were the debtors to the bank , nor what was the nature of the securities . I only knew who were debtors to the bank after the failure . I objected to sign the accounts after the third audit , because it implied that all the items had been gone into by us , whereas ours -was merely an audit of abstract accounts and a comparison of totals with the ledgers . I spoke to Mr . Chandler about it , and the certificate of audit was altered to the effect that we bad examined the abstract of accounts , and compared them with the general ledger . We merely looked to the totals . It took us about five hours . Our business was done in the accountant ' s room . We saw none of the directors . Sometimes Mr . Cameron , the general manager , passed through , but we had no communication with any one but Mr . Craufurd . The accounts -were audited in the same way from beginning to end . Mr . Craufurd said at first that I was very particular in rny inquiries , and that he had given ine all necessary information . No alteration was made afterwards . I audited the accounts up to the 30 th of June , 1855 , in the following month . The paper produced contains the entries . I went from Mr . Craufurd ' s
stiitement . There is a statement of the assets . One item is : — 'London bills , No . 5 , 95 , 934 / . ' Mr . Craufurd represented that as an asset . The title given it was ' London bills discounted with security . ' 1 had not the slightest reason to believe that that represented past due bills . In every case , without exception Mr . Craufurd represented the assets as good . I was most astonished when I found that many of them had been bad for years . The last half-year ' s accounts contain an item of 1000 / ., owing by a Mrs . Goodridge , as far back as 1854 , also 1100 / . due from a Mr . Jordan , in 1851 and 1852 . I had no reason to suppose that those debts had been hopelessly bad for years . There is a sum of 3185 / . due from the late Mr . M'Gregor , which forms part of the 'Loan account , No . 1 , ' represented as loans
on mortgages of houses and land , and which now turn out to be nothing of the sort . I could not assume that the chief accountant would deceive an auditor . The accounts of June , 1853 , contain an item of ' suspense account . ' That was represented as floating sums not appropriated to any account , but to be so in the next half-year . There is the same item in the accounts up to June , 1855 , the amount being 36 , 610 / . ; next half-year it is 40 , 273 / ., « nd in June , 1856 , 54 , 049 / . —all at the head office . I had no notion that this embraced 31 , 663 / . sunk in the Welsh works . It was reported to us as a kind of floating account , due from customers of the bank . I now see from the general lodger that 31 , 063 / . is due on the Welsh works . "
Mr . Page concluded by snying that he was content with Mr . Craufurd ' s explanations , but that the least suspicion about the bank would have led to n more lengthened inquiry . He believed the auditors had dune all that could be expected . From this opinion the Commissioner strongly dissented . Mr . Thomas Chandler , the other auditor , explained the mode in which the earlier accounts of the bank were audited . Although an auditor , he did not know the state of Mr . Cameron ' s account . He ( witness ) borrowed money of the bank . His fee * went in payment of his debt . The auditors only looked at the total in the ledger .
Mr . Crawford , the accountant , and subsequently general manager , was then examined . He whs dieted by the director * , but wa s * introduced by Mr . Cameron , and was told on the first day to look to him for instruction .- * . "On one occasion , in 1855 , when ho spoke to a director on the affairs of the bank , Mr . Cameron threatened him with dismissal . The accountant was not servant to tho mnnnger in every bank , but so it was in the lloyal British Bank . { Sensation . ' ) Ho did not represent all tho dobts and ¦ securities as good , but said they ¦ wore mortgages on houses , land , property , &c . Mr . Page , at his lirst audit , wished to hoo tho bills and securities ; ho told Mr . Cameron so , nnd that gentleman rep lied that iio had misconceived his duties . ( A luiu / k . ) Mr . Cumeron's conscience allowed him aomotiinoa to
discount the bills of tho directors , without consulting the board . Mr . Humphrey Brown was ono of them . Ho oiico refused to discount Brown ' s bills , on iliu ground that ho had not paid his fanner bills , and Mr . Cameron ordered him to discount thorn . A gentluman , after tho 1 st of August , wishod to buy shares ; ho aout him away twice , and tho third time ho brought tho money in hi . i pooket . Ho ( witness ) then told him to put up his money , and sent him away , He told Lho board of it , and on » gentleman uuid it wns a pity to turn money away while any hope existed . Ho told them iie had no hopo , and it was a deception to taUo people ' s money . Ho might have said som ething about ' roguery and docxption , ' as lie was rather warm . Nono of tho accounts wont to tho Gaaottti wore signed by tho genonil manager . Ho proposed to take tho salary of a clerk , and tho othcx gentleman aaaociatod with him would have dono tho
same , m order to show a good balance at Christmas if the directors would forego their 2000 / . ; but the proposition -was not acceded to . On the eve of the failure tner " was an attempt to get assistance from the National Bank of Ireland . He told the National Bank if thev did not give them money they could ' not keep open ain hour . On one occasion , when Mr . Humphrey Brown asl « d for an advance upon a vessel , he asked him in the board-room if it waa free . He replied ' Yes . ' He telegraphed to Gloucester , and found it was mortgaged The bank had not made a shilling of profit . The losses would have been more than sufficient to pay all the dividends . The statement of Mr . Stapleton that he ( witness ) had advised the directors to carry on the bank was untrue . Directly he found the concern was rotten ha advised they should close their doors . Mr . Esdaile was most sanguine . "
The investigation was here adjourned to Wednesday when Mr . Humphrey Brown was examined . " He entered on his duties as a director in February , 18 o 3 . He gave his note of hand for the shares by which he qualified , and he paid for them in no other way . He did not know that the thousand pound promissory note which he gave Mr . Cameron for the shares remained dishonoured to this day . He opened his credit b y payinginto the bank 18 / . 4 a . ; on the same day , he drew two thousand pounds . ( -1 laugh * . " ) The security -was not completed on that day . Security was given in June , 1853 , on the Ellen Lindsay , which cost seven thousand pounds . He never sat on any finance committee , to
the best of his recollection , where any bill was discounted for him . Before joining as a director , lie had not been in the habit of getting bills discounted at the bank . Ho could not say whether other persons might not have got his bills discounted there . He was drrector of only three companies . Those companies were of no us « to him , but a seiions loss . He did not know that the Wundel Water Works bad borrowed money until after he had joined the bank . As to the Wandel Water Works , he believed that the majority of the directors never paid a shilling for their shares . The companies borrowed money very largely from the llbvnl British Bank . He remembered there
wengreat complaints about a loan to the Australian Company . On the 10 th of March , his account was opened ; in a ' dav or two afterwards , he borrowed three thousand pounds . " He borrowed four thousand on the 2 nd of May . He was not an old acquaintance of Mr . Cameron . Hehail known him only two or three weeks before he joined the bank . The sum of seven thousand pounds , placed to his credit on the 18 th of June , included the four thousand and throe thousand . The seven thousand became a loan for six months on security being given . It -was understood that the bill of sale on the ship should not be iv-i . tercel . ( l . ntH / kter . ' ) On the 12 th of September he
apj . l ' u-d for live thoi ^ and pounds for six months , on securities to bo approved of . lie did not gel the money at that time , but it was placed to hi . s credit . His acoimt , which commenced with a credit of 18 / . Is ., ended with a . debit of of G 3 . C 17 / . 5 rf ., with sets-oiV . ( Kenewtd huujhto : ) Security for 5000 / . was given on the Mag-( lal ' en .-t . He wi \ s told that everything necessary for the loan would be attended to by Mr . Cameron , -who was the principal man . He ( witness ) was only an unfortunate director , very much in the dark . ( LrnujhUr . - ) Mr . Cameron was , in fact , the bant . of similm
Mr . Brown went on to g ive other particulars a nature , and said tlmt one of the creditors , iVIr . Uuvei , hud " swindled the bank—thoug h that was a strong expression-out of 20 , 000 / . " The mortgage on hi , ( Mr . lirown ' rt ) London ships was subjwt to « forth mortgage of 10 , » 00 / . to n Mr . Walton . » On the 14 KobmnrV 1 S . j . O , the bala . u-o against him was about 20 , 000 / . " ' Ho was then under liabilities to 1 \ a ton J . ;> . " 11 / b .-sides the insurances of 28-1 H / . and othcj discounted by tho bank-at lent by \\ a ton . U * had then ot live shis as security « uji . oh he to
g p ^ 1 & mart ^ . In his letters Mr . 1 ' add . so urnmh * EddnHo , of February M , ltiob , ho proposed tho transiu of his security from Walton to the bank , and cNprcflStd tho approhonaion that ' some untoward oncun ^ tance Liverpool' mig ht c . uuso tho securities lo pa * , hi to thuu hand ; . Tho Mngdnlona was not transloi-red to YV a ton a « u security , tfho was chartered to tho Uoye and , to avoid the ponakio ., as a memb . r « l I ml *» ° »' ho sold tho ship to Mr . Walton . He never got ajnlU * in cash . Ho never received from WuU ., 11 any « >» ^^ tiun ftir tho Hhi |> , nor gave any buok n iuii whon it
re-tr «> nsi '»! rr « d to him . ' „ . „„ ,,,. Mr . Linldator : " Was it over intended llml any mono should pass ? " ,,,., r .. iiiitiuu Mr . Brown declined to answer . " H 10 n'go t « J ^ with tho bank roHultod in hi « relieving thorn « " ^ ^ to tho extent of -10 , 000 / . His aco rn-ities were 1 1 a » J » from Walton ^ o him , and from him to tho imnU , uuj had tlio thanks of tho Directors for doing » - V' Wi wore oaneollml , as tho Inmt tl . li . tf H . « t v »« M »>« ^ . Ho had not insun-d I bo Ulm . awlor "I'M " . ^ " ; J „ rtMorod wore at his own disposal , noU it » J £ » > S i . iortK < w > to tho bank 5 and li « always doull . w > „ . his own . Uo Ih . Hov « I !>* had n .. * ! , 0 null > J ^ Witf o Hiorto ships without , communication w » H » » ° Ctfe /««« 0 « . ) If » " fold or mortgaged llio « 1 » 1 ' » .
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414 THE LEADER . _ £ No . _ 371 , _ Satu ] U ) at ;
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Leader (1850-1860), May 2, 1857, page 414, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2191/page/6/
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