The Times 1831 - 1840 22 Nov 1836-06 Apr 1837 Forster's Bank

22 Nov 1836-06 Apr 1837 Forster's Bank

The Times, Tuesday, Nov 22, 1836; pg. 5; Issue 16267; col B FAILURE OF MESSRS. FORSTER, OF CARLISLE. - The following resolutions were adopted at a public meeting held in Carlisle on Saturday: - Mr. Joseph FERGUSON, the mayor, took the chair, and it was unanimously resolved - "1. That the failure of the bank of Messrs. FORSTER and Co. does not appear to have originated in the present state of the money-market, nor in any cause calculated to affect banking establishments in general. "2. That this meeting therefore conceives it a public duty thus promptly to express their opinion, and to state that their confidence in the remaining banking establishments of this city and neighbourhood remains unshaken. "3. That a declaration to the above effect be signed by as many individuals as possible, with the addition that subscribers will continue to take the notes of the other banks as heretofore." The Times, Tuesday, Nov 29, 1836; pg. 3; Issue 16273; col A THE CARLISLE BANKS. - The Messrs. CONNELL have proved, that after paying every shilling of their liabilities, they still possess a considerable surplus, so that no less can accrue from their suspension; and after a careful examination of Messrs. FORSTER's books, the accountants state, that estimating the assets at the very lowest sum, and taking into account all losses and expenses, there remains sufficient to pay all the creditors at least 16s. in the pound. The loss, therefore, will not be so serious as was at one time dreaded. - Carlisle Patriot. The Times, Saturday, Dec 03, 1836; pg. 3; Issue 16277; col G                From the LONDON GAZETTE, Friday, Dec. 2.                                     --------------------                                        BANKRUPTS. Joseph FORSTER, John FORSTER, and William FORSTER, Carlisle, bankers, Dec. 21, Jan. 13, at 11 o'clock, at the Crown and Mitre Coffee-house, Carlisle; solicitor, Mr. CAPES, Raymond-buildings, Gray's-inn. The Times, Tuesday, Dec 06, 1836; pg. 2; Issue 16279; col F ____________________________________ THE CARLISLE BANK. - A fiat of bankruptcy has been issued against the late banking firm of FORSTER and Co. The commission was opened here on Tuesday, and the first meeting of creditors is fixed for December 21st. Mr. W. STORDY has mean time been appointed provisional assignee. No new facts connected with the failure have transpired since our last. The winding up of the affairs of the bank will be a work of great importance. An early dividend is most desirable. Messrs. CONNELL and Co. have called upon their creditors to meet them on Wednesday, when they will lay before them a full statement of their affairs, and then be guided by circumstances and the advice of friends as to the steps to be taken to wind up their affairs. It was stated in one of the Whitehaven papers that Messrs. CONNELL proposed resuming payments on Tuesday last; this was a mistake; this point will not be settled till after the meeting of creditors. We received, however, the following communication from a most respectable quarter: - "We have been informed, from good authority, that there is a probability of the Bank of England establishing a branch bank in this city, which we think will be of great utility, as it will make the circulation of the district exchangeable in cash." Some other failures have been consequent upon the failures of the banks. They are not, however, of public importance; and we are happy to add that the working classes continue to be fully employed. - Carlisle Journal. The following statement of the assets of Messrs. FORSTER's bank, although not official, will be found to be substantially correct. Their liabilities amount to 450,000L., to meet which they have real estate to at least 100,000L.; good debts, securities, &c., 270,000L., making a total of 370,000L., or 16s. in the pound. - Tyne Mercury. ______________________________ The Times, Wednesday, Jan 18, 1837; pg. 1; Issue 16316; col E At the Cumberland Quarter Sessions, on Tuesday, Mr. MILTON applied to the magistrates to be exonerated from all liabilities, in consequence of his having paid the county money into Messrs. FORSTER's bank at Carlisle, which had subsequently failed. After a lengthened discussion the Court refused to indemnify Mr. MILTON, giving as a reason the injustice that would be inflicted on the rate-payers in calling on them to pay the county-rate over again. - Cumberland Packet. _____________________________ The Times, Saturday, Feb 11, 1837; pg. 2; Issue 16337; col C                       VICE-CHANCELLOR'S COURT, FRIDAY, FEB. 10      HUDSON AND OTHERS, ASSIGNEES OF MESSRS. FORSTER AND CO.,           BANKERS OF CARLISLE, V. FREDERICK HEATH, OF THE STOCK-           EXCHANGE, BROKER. At the rising of the Court, Mr. J. RUSSELL, on behalf of the plaintiffs, moved for and obtained a special injunction against the defendant, to restrain him from selling, pledging or otherwise disposing of 650 shares in the Real Del Monte Mining Company, belonging to the plaintiffs, as assignees of Messrs. FORSTER and Co., bankers of Carlisle, and in the possession of the defendant as their agent. The motion was supported by a special affirmation of William STORDY, of the city of Carlisle, gentleman, from which it appeared that he was one of the assignees of the said Messrs. FORSTER and Co., and who were made bankrupts in November last. It also appeared from the same affidavit, that by the same post by which docket papers were sent up to London, John FORSTER remitted the sum of 5,730L. 4s. 6d. to the defendant for the purpose of paying differences with respect to certain gambling transactions in the British and foreign funds and which remittance was of course a fraud upon the other creditors; that subsequently the defendant sent to Mr. John FORSTER an account of such dealings, and after crediting him with the said remittance of 5,730L. 4s. 6d., a balance of 723L. 12s. 11d. was found to be due to the said defendant. The affidavit further went on to state, that the defendant had possessed himself of the said 650 Real Del Monte shares belonging to the bankrupts, and which shares he refused to give up, without, not only payment of the balance of 723L. 12s. 11d. so stated to be due to him, but also that the assignees should give him a release to protect him from the remittance of the sum of 5,730L. 4s. 6d., remitted as above stated. The VICE-CHANCELLOR at once granted the injunction according to the prayer of the bill, and said that the assignees could not by law give the release required, and that the remittance of 5,730L. 4s. 6d. on the said 17th of November was clearly a fraudulent preference. ____________________________ The Times, Thursday, Apr 06, 1837; pg. 3; Issue 16388; col F The Carlisle Journal says, that a dividend of the estate of Messrs. FORSTER, late bankers in that city, will be paid on the 13th of May. It is not expected that the dividend will be large in the first instance, as a great part of the property yet remains unsold; but, though small, it will do much good, by setting free what in the aggregate must be a large sum of money, which has unavoidably been locked up for many months, to the great inconvenience of the trade of the district. The Times, Thursday, May 04, 1837; pg. 6; Issue 16407; col B                               COURT OF REVIEW, Westminster, May 3.                                                    ----------------                   EX-PARTE THE CARLISLE CANAL COMPANY, IN RE                                          FORSTER, A BANKRUPT. This was an application for leave to prove a debt against the separate estate of one of the members of the late Carlisle Banking Company, who had acted in the capacity of treasurer under the Canal Company. The COURT held that the joint and not the separate estate was liable. The account had been kept between the bank and the company, not with the treasurer individually; none of the money appearing to have passed through his hands in virtue of his office. - Petition dismissed with costs.

 

< Prev		Next >