Wednesday 25 April 1827
Public Ledger and Daily Advertiser
BOLLAND AND OTHERS V. MARSH
This was an issue, directed the Vice-Chancellor, to ascertain whether the sum of 73,600/. was due by Arthur Cuthbert Marsh and Co. Navy Agents, to the firm Marsh, Stracey, Fauntlcroy, and Graham, at the period of their bankruptcy.
Mr, Serjeant Wilde (with whom was Mr. Pollock) stated the case to the Jury. The plaintiffs were the assignees of the late firm Marsh, Stracey, Fauntleroy, and Graham, bankers. The defendants were Marsh and Co. the Navy Agents.
An account was kept at the banking-house, in the name of A. C. Marsh, which was in fact the account of Marsh and Son, and that account was overdrawn the amount of 73,600L
This should prove by the documentary evidence and admissions before the Vice-Chancellor, and leave his case upon the facts by them proved, until he should hear the nature the defence, which his Learned Friend the Solicitor-General would offer to the Jury.
A variety of documents were then put in, amongst which were the deed of partnership between William Marsh and his son, Arthur Cuthbert Marsh; and the balance sheet, from which it appeared that there was in the account, standing in the name of A. C. Marsh, the banking-house, a balance against the Navy Agency House of 73,000/.
The Solicitor-General, for the defence, said, that if the present action should succeed, the banking concern would sweep away once the whole of the assets of the house of Marsh and Son, and leave those who have demands upon that house nothing to divide amongst them.
If, however, the Jury should find that the banking concern had given credit to Wm. Marsh alone, then the banking concern would not come until after the other creditors the concern had been satisfied. That they had given credit to Wm. Marsh only was tolerably clear, as appeared from all the facts of the case.
In 1815, Mr. William Marsh, who was a navy agent, formed a partnership with Mr. Creed, and it was found necessary, as a matter of convenience, to open an account at the bank of Marsh and Co., over which account it was judged proper that Mr. Creed should have control.
It was also seen, that to open the account in the name of William Marsh, who had already a private account at the bank of Marsh and Co., would occasion inextricable confusion, and therefore the account was opened in the name of. Arthur Cuthbert Marsh (the son of William Marsh), who was just returned from the University of Cambridge, and had become a clerk in the Navy Agency Office.
Some time afterwards, Mr. Creed retired from the business, and then a deed of partnership was entered into between Marsh, and his son A. C. Marsh, the principal stipulations of which were, that the father should advance the agency concern the sum of 44,000/. and the son should attend the business, receiving per annum, in lieu of profit, the remainder of the profits being given to William Marsh, and applied to the liquidation the 44,000/.; which event taking place, the son was to be entitled to his full moiety the profits.
This was a consummation that never took place, and the question for the Jury to consider was whether the credit had been given to Wm. Marsh only, or Marsh and Son.
It certainly appeared to the world that Marsh and Son were partners, but not so at the banking-house who were perfectly aware of the nature the partnership, if such it could be called. Indeed it did not appear that they could be considered partners all, for, according the deed, he was not liable for house rent or clerks’ salaries, or any thing else, until the liquidation of the 44,000/.; nor were any apprentices, (if there should any), indentured to him.
He was, therefore, not to be partner until the 44,000/. had been replaced and as that sum was never liquidated, so the actual partnership never took place.
Unless it could be shown that they were partners at the period of the execution of the deed, his Learned Friend had no ground to stand upon; for if not partners then, nothing had since occurred to ratify the deed then entered into.
If, therefore, the Banking-house made advances to Marsh and Co. knowing that they were for Wm. Marsh alone, they conld not now sustain their action against the firm. That they did know that these advances were for Win. Marsh was apparent, from a letter written by Wm. Marsh upon recovery from a fit of illness, which was in reply to communication from them, and was to the effect, that although it was understood that all the drafts of Mr. Arthur Cuthbert Marsh, were upon his (William Marsh’s) responsibility, his son not being partner in the profit and loss; yet if his recent illness had terminated fatally, some question might have arisen, and therefore thought it necessary to repeat, that the credit was to himself, and not to A. C. Marsh, or to Marsh and Co.
Add to this letter the fact, that no claim had ever been made, upon him the banking concern, and the Jury could entertain little doubt but the account was that of William Marsh alone.
If their verdict should be for the plaintiffs, not only would the assets of the creditors of Marsh and Co. be swept away, but A. C. Marsh would be a ruined man.
Mr. Sergeant Wilde replied, and the Lord Chief Justice charged the Jury at considerable length.
Verdict for the plaintiff—Damages
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Wednesday 9 May 1827
Star (London)
Bankrupts
Arthur Cuthbert Marsh, Great Scotland Yard, navy-agent, May 15, at eleven, 22 and June 19, at ten, at the Court of Commissioners of Bankrupts, Basinghall St, Attornies, Messrs Fynmore and Co. Craven St, Strand.
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Saturday 12 May 1827
Staffordshire Advertiser
Bankrupts.
Arthur Cuthbert Marsh, Great Scotland Yard, navy agent, scrivener and banker, May 15, 22, June 19, at the Court of Commissioners. Attorneys, Messrs Fynmore and Co. Craven St, Strand.
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Saturday 14 July 1827
Star (London)
Certificates – – – -Arthur Cuthbert Marsh, Great Scotland Yard, Navy Agent. – – –
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Saturday 18 August 1827
Globe
Dividends
Arthur Cuthbert Marsh, of Great Scotland Yard, navy agent. September 14, at ten, at Basinghall St.
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Monday 12 November 1827
Cheltenham Journal
Dividends
Nov.30 – Arthur Cuthbert Marsh, Great Scotland Yard, Navy-agent.