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MONMOUTHSHIRE AND GLAMORGANSHIRE BANK. [FROM A LONDON CORRESPONDENT.] THE all-but announced determination of MASTER FATIKER to make a call of SIXTY POUNDS per share on ALL the contributories of the Monmouthshire and Glamorganslllre Bank, caused a large number of shareholders to assemble at his chambers, in Southampton Buildings, on Tuesday last. Mr. Tilson, the solicitor, was present, and took an active part in the proceedings of the day. We also ob- served Mr. Fothergill, and other heavy shareholders, in the room, and also Sir Thomas Phillips, who appears to unceasingly watch over the-just, fair, and equitable wind- ing-up of this unfortunate concern, and to see consum- mated the work of salvation to shareholders and cre- ditors, which he, aided by the two excellent committees, so gloriously begun. Many of the shareholders were repre- sented by solicitors from Newport, who feelingly ad- dressed the Master on the part of their respective clients. Much objection was made in the early part of the pro- ceedings against the largeness of the call, and the impres- sion seemed to be rife, that the official managers would proceed at once to the exercise of the tremendous powers about to be entrusted to them, and call, under the pe- nalty of the PEINE FORTE ET DURE, for the very sum to be named in the" order," irrespective of the shareholder's circumstances, position, modes of present and future payment This impression was soon found to give way to more assuring hopes, when it was stated that the pre- sent excellent official managers, would be governed by sounder, more wise, more equitable, and more humane views, and from them the honest shareholder had nothing to fear, and would be only called upon to contribute to the extent of his ability and his fortune but that the dishonest shareholder, (if there be indeed any such.) who would wish to elude the responsibility that has fallen on him, shirk his duty, and leave his unfortunate, but still honest, brethren i* the lurch—THAT shareholder, THAT man might indeed FEAR, for on him the weight, the strong arm of the law would fall, and he would be com- pelled openly to disgorge all that he vainly attempted to conceal. No matter what ingenious device'' might have been used—no matter what bargains and sales" might have been made—no matter what conveyances" might have passed-no matter what a village lawyer" did, said, or instructed, all would be the same, for all done would be found valueless, and of no avail! It was broadly stated-it was not, for it could not be denied, (for the winding-up of the Newcastle and North of Eng- land Banks would have furnished a hundred cases in point,) that ANY attempts to dispose or put away property since the fatal Sixth of October, 15 ghteen Hundred and Fifty-one, when the Monmouthshire and Glamorganshire Bank stopped payment, were weak and puerile, and would not stand a moment in presence of the LAW! All this having been discussed and commented upon, then came the important question-how far the agreement en- tered into between the creditors and shareholders would stand-how far schedule A and schedule B would be respected by the higher power, the Master. Mr. Cath- cart appeared on the part of Mr. Rowe, of Llantarnam, who had already paid f,50 on the thirty shares he held, making the contribution on his part to amount to £ 1,500. Mr. Cathcart contended, and most justly contended, that it would be a most monstrous proposition to hold that the solemn obligation made in the hour of peril, when the entire district was menaced with utter, deep, inevi- table ruin-the shareholders with bankruptcy-the cre- ditors with ruinous loss-should be now deemed null andvoid, and worthless as the scrip of the most worth- less company kicked from the vestibule of Capel Court .tself Were those gentlemen, who at much personal 1 inconvenience, raised the fund that saved the ship from. being at once dashed upon the rocks, to be placed in the same category with those shareholders, who have not, up to the present moment, contributed a single farthing,- were they to be called upon for an additional sum of sixty pounds ?—Mr. Tilson Certainly not! No such great injustice was ever intended to be inflicted on the contributors to the £100,000 fund; it is even wifng to indulge or tolerate for a moment such a supposition; full credit will be allowed them for the sums they have already advanced, and although he, Mr. Tilson, would not go the length of asserting, with the gentleman who was addressing the Master when he took the liberty of interrupting him—that all those who had not yet con- tributed, should be EXHAUSTED before those who had subscribed should be touched, still their respective cases would be most leniently considered by the official ma- nagers, and all would, lie trusted, be found to go on well and satisfactorily. It was quite right to make the call about to be made; it might, indeed, be considered large, but in the end would be found to be merciful to all. On it depended the carrying out the most favourable ar- rangement of paying the creditor his FIFTEEN shillings in the pound. If that arrangement had NOT been made, every shareholder then present would have been a doomed and a ruined man A payment was to be made on the 30th of June next, which, if not discharged, would nullify and render naught all that had been done, and force them to commence, DE xovo, the work of ruin to many, if not destruction to all. There could be no doubt of the expediency of the present course—all had hitherto gone wcli The fact was patent, and without parallel— only FOUR WRITS were issued since the stoppage of the Bank. This spoke volumes for the forbearance of the creditors, and now since the VEXATA QUESTIO of priority shares, and trusteeship shares, was settled finally, and for ever-there was no doubt, if this call were made, all would terminate in that fair, just, and safe manner, so much and so ardently to be desired by both shareholder and cretlitor. Some desultory conversation followed, during which Mr. Nicholson, one of the official managers, made some remarks, apparently of a most satisfactory character, to the meeting, the purport of which we could not catch. The MASTER briefly addressed the assembled shareholders, stating that, after the best and most mature consideration, he had come to the determination to make a call, and would, therefore, make the call of SIXTY POUNDS on each and every share, to be demandable and payable on or before the fifteenth day of May next en- suing.




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