16 February 1866 1867 . N. 350.

The Money Market Review, 16. Februar 1867. S. 203/204.
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Overend, Gurney et Co. Further Disclosures.  Zusatz von Marx.
(Judgment of Malins.)

Sir Richard Malins, Vice chancellor, on 9 Feb. refused die motions of Oakes und Peck to have their names removed from the list of contributories. 7 directors in the Co und one gentleman who signed the articles of association for 600 shares, but did not become a director. Bei der formation der new Co., Barclay, Gibbs Gibb, Gordon and Rennie consented to become directors; the fullest disclosure was made to them of the actual state of the concern. They were told that the firm insolvent to 2–3 Mill. £. St. J. H. Gurney told them that from 1860 the total result of all the operations of the firm was a loss. There was a positive deficiency of at least £3,117,000. Malins declared that the conduct der 4 new directors „was a fraud“. Nebst all dem andern, den Lügen des Prospectus etc, they told the shareholders [„]that they could inspect the memorandum and articles of association and the deed of covenant, whereas there were really two deeds, only one of which was offered for inspection.“ The 9 members of the old firm conspired of course mit den 4 new directors in the false representations made to the public.

Debts: £5,250,000 (nach den liquidators) Uncalled capital of Shares 3,500,000. £.

The Money Market Review, 16. Februar 1867. S. 206/207.
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Conviction of Greenland, late manager of the Leeds Bkg. Co.

Disastrous failure dieser Co in autumn of 1864; in Folge von frauds und forgeries, carried on for long time by Greenland (auch Frommer(?)), the manager, who made ciphers of the directors, and engrossed to himself the entire control of the business of the bank. Up to the time of its failure, the Bank paid 25% dividend p. an. The first call – nach stoppage – for 70l. p. share, the 2nd for 40. Widespread misery. In many cases sudden deaths from suicide or broken hearts. Einzige Cause: Greenland, and the knaves and forgers with whom he had associated himself. The forgers had escaped. A poor half witted clerk to one of them (Marsden) was prosecuted for forging an acceptance, and though it was proved that he did it by direction of his employer, and that both Greenland and the bankclerks knew that it was a forgery at the time when it was received, he [was] sentenced to 15 years’ penal servitude. At length, the |254 Leeds Chamber of Commerce, failing to obtain evidence of his many other crimes, discovered that Greenland had been in the habit of making false returns to the Gvt. in regard to the note issues of the Bank. Indicted and tried at the Central Criminal Court, the Leeds chamber of commerce being the prosecutors. He now sentenced to 15 months imprisonment with hard labour.  Es geht um das Alter von Greenland: Er ist beinahe 70 Jahre alt.
Das Vieh ist verging upon 70.

7) Miscellaneous.

  • Insurance and Incendiarism (p. 211. 278–9. 282)
  • Public Debt of Russia (Michell) (274, 275)
  • Goldmines of Victoria (Kitto) (274)
  • Ebbw Co. (Industrial, und Territorial Magnate) (237)
  • Conservative Land Society (247) National Freehold Land Society (253)


  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867