CAMPBELL OF KETHICK: Quarterly, 1st and 4th Gyronny of eight, Or and Sable; 2nd and 3rd Argent a Part V. galley Sable, sails furled up, flag and pinnets flying, and oars in action. Crest, a boar'shead couped, Chap. II Or. Motto, "Ne obliviscaris." CARNEGIE OF LEUGHLANDS: Or, an eagle displayed Azure; in his dexter talon a rose, slipped in pale, proper. CARNEGIE OF PITARROW: Parted per pale, Or and Argent, an eagle displayed Azure, armed and beaked, Gules. CATHCART: Azure, three cross crosslets, fitchés, issuing out of as many crescents, Argent, two and one; : CHEAP Argent, three ears of wheat slipped Vert. Crest, a garb Or, branded Vert. Motto, "Ditat Virtus." CLERK OF PENICUIK: Or, a fesse chequé, Azure and Argent, between two crescents in chief, and a boar's COLVILE OF OCHILTREE: Argent, a cross moline, Sable, centre square pierced of the field. Supporters, two COURTENAY: Quarterly, 1st and 4th, Or, three torteaux, Gules; 2nd and 3rd, Or, a lion rampant, Gules. DAVIDSON OF BALGAY: Azure, on a fess, between three pheons, Argent, a stag couchant, Gules, attired DAWSON: Gules, three crosses, patées, Argent. (See, however, post vol. ii., p. 524, where these arms are differently given on Lord Loughborough's recorded pedigree, H.C.R. I., i.). DICKSON: Azure, three mullets, Argent, on a chief, Or, as many pallets, Gules. Crest, a hand holding a sword in bend, proper. Motto, "Fortes fortuna juvat." DOUGLAS Argent, a man's heart, Gules, ensigned with an imperial crown, Or; and on a chief, Azure, three mullets of the first. Crest, a Salamander Vert in flames of fire. Motto, "Jamais arrière." The Earl of Selkirk1 carries these arms, 1st and 4th, quarterly, with 2nd, Gules, three cinque- DUNBAR: Or, three cushions pendent within a double tressure, flowered and counter-flowered, Gules. a bush of oak, proper. Motto, "Essayez." The arms of DUNDAS OF ARNISTON are given as the same, but within a bordure Ermine; and the crest tinctured "Or." Those of DUNDAS OF BLAIR are distinguished by "a crescent of the second." DUNSMUIR: Vert, three garbs, Or. EDEN: Gules, on a che veron, Or, between three garbs, Argent, as many escalops, Azure. EDWARD OF PEARSIE: Azure, a fesse, Argent, surmounted by a pillar, Gules, issuing out of the base wavy, ERSKINE OF ALVA: The same as ERSKINE OF BALGONIE (see below), but with the quarters reversed, and ERSKINE OF BALGONIE. Quarterly, 1st and 4th, Azure, a bend between six cross crosslets fitchés, Or; 2nd and 3rd, Argent, a pale within a bordure, Sable. FERGUSON OF PITFOUR: Azure, a buckle, Argent, between three boars' heads couped, Or. FLETCHER: Sable, a cross fleury, between four escalops, Argent. FORRESTER: Argent, three bugles, Sable, trimmed Gules. FOTHERINGHAM: Ermine, three bars, Gules. Crest, a Griffin seyant, proper. FULLARTON: Argent, three otters' heads erased, Gules. GARDYNE OF LATON: Argent, two cheverons engrailed, Gules. GILLESPIE: Azure, in base, a ship, Argent, uuder sail, and in the sinister canton, a hand, couped, gauntletted, and grasping a sword, proper. GRAHAM OF MEATHIE AND BALMUIR: Or, three pyls wavy within a double tressure counter-flowered Sable, and on a chief of the second, three escalops of the first. Crest, a phoenix rising from her ashes proper. Motto, "Bonne Fin." HALKETT OF PITFIRRANE: See opposite. HALYBURTON OF GASK (progenitor of Pitcur): Or, on a bend Azure, three mascles of the first. Crest, a HALYBURTON OF PITCUR: J.W. gives these as “the bend between three boars' heads, erased Sable." HAWKINS OF KELSTON: Argent, on a saltire engrailed Sable, five fleurs-de-lys, Or. Crest, on a mount Vert, HOPE OF CRAIGHALL AND PINKIE: Azure, a cheveron between three bezants, Or. Crest, a broken globe surmounted by a rainbow, all proper. Motto, "At spes infracta." Supporters, two women, their hair HOPE (Earl of Hopetoun): The same arms, but with a bayleaf, proper, charged on the cheveron for 1 This title is now extinct. Part V. KAY: Argent, a bend sinister Sable, between an annulet in chief, Gules, and a griffin's head erased in base Chap. II. of the second; in its beak a key, Azure. KYD OF CRAIGIE: Argent, a pine tree eradicate, proper, with an hunting horn pendant from one of the KYD OF WOODHILL: The same as Kyd of Craigie with the addition of "on a chief Azure, three mullets, LAWSON (of Humbie): Gules, a saltire Argent; on a chief, Or, three garbs of the first. LYON: Argent, a lion rampant, Azure, armed and langued Gules, within a double tressure, flowered and MCKENZIE: Azure, a deer's head cabossed, Or, within two laurel branches dispersed orle-wise of the last. 66 MAITLAND: Or, a lion rampant, Gules, couped at all points of the first, within a double tressure flowered MILN: Or, a cross moline, Azure, square pierced of the field between three mullets of the second. MORAY, EARL OF 1st and 4th, Or, a lion rampant, Gules, within a double tressure, all within a bordure MURRAY (ATHOLE): Azure, three mullets, Argent, within a double tressure, flowered and counter-flowered with fleur-de-lys, Or. OGILVY OF AIRLIE: Argent, a lion passant gardant Gules, crowned with an imperial crown and collared with an open crown. OGILVY OF RUTHVEN: J.W. remarks that Ruthven "took out armorial bearings for himself some years since," but does not give them. PATERSON OF CRAIGIE: Sable on a cross cantoned with four lions' heads erased Argent, five eaglets displayed of the first. RAMSAY: Argent, an eagle displayed, Sable. RATTRAY OF CRAIGHALL: Azure, a fesse Argent between six cross crosslets fitchés, Or. READ OF LOGIE AND TORBEG: Argent, three stags' heads couped, proper. RUTHERFORD: Argent, an orle Gules, and in chief three martlets Sable. SCOTT: Or, on a bend Azure, a star between two crescents of the first. SCRYMGEOUR: See p. 437, where these arms are shown quartered with those of Wedderburn. SETON OF PITMEDDEN Quarterly, 1st and 4th, Or, three crescents within a double tressure counter-flowered STEWART: see s. Moray. STEWART OF BLAIRHALL: Quarterly, 1st and 4th, a fess chequé, Argent and Azure, with a double tressure, counterfleury, with fleurs-de-lys, gules; 2d and 3d, Or, a saltire and chief, Gules. Crest, a demi lion, Gules. Motto, "Avito viret honore." STEWART OF STENTON: Or, a fess chequé, Argent and Azure. STIRLING OF KIPPENDAVIE : Argent, on a bend, Azure, three buckles, Or. Crest, a Moor's head, couped at the neck, proper, banded with a fillet, Argent. Motto, "Gang forward." STRACHEY OF SUTTON COURT: Argent, a cross engrailed, Gules, charged in each arm with a rose, and in the centre with a fleur-de-lys, Or; in each quarter an eagle displayed, of the second. THOMSON OF CHARLETON: Argent, a stag's head, cabossed, Gules, attired, Or, and on a chief Azure, a cross crosslet fitché, of the third, between two spur rowels of the first. TOD: Argent, three foxes' heads, couped Gules. WARDLAW OF PITREAVIE: Quarterly, 1st and 4th, Azure, three mascles, Or; 2nd and 3rd, Azure, three water budgets, Or. WATSON OF GRANGE OF BARRIE: Argent, an oak tree growing out of a mount in base, proper, surmounted of a fesse, Azure, charged with a cinquefoil between two stars of the first. PART V. CHAPTER III. THE WEDDERBURN FIRM AND SUIT. Chap. III. I had not originally intended to give much space to either of these topics, chiefly Part V. because, as regards the former, I had not sufficient material from which to construct a clear account, nor, as regards the latter, any information beyond what is stated of the case in its different stages in various columns of law reports. Only last (1897) autumn, however, I chanced to have sent me by Major Seton of Mounie, whose grandfather was at one time a partner in the Wedderburn house and consequently a defendant in the suit, a box containing a considerable mass of papers relating to both the one and the other, and from these I am now able to go into more detail as regards them than I should otherwise have been able to do. The close connection of many members of the family with Jamaica from 1746 on for over a century, and the fact that it was there that they found the means to regain fortune and position after the '45, render it fitting that a history of the family should contain an account of the once famous West Indian firm, of which traces yet survive in occasional references to rum professedly of their shipping. So, again, the story of the lawsuit equally claims a place, whether we regard it as part of the history of the firm or as a matter which filled the family mind and emptied the family pocket for a long period of years, as an almost perfect example of legal uncertainty and delay, or as a case in which, at a vast expense, the principles of equity were handsomely illustrated. The firm of East and West Indian merchants which carried on its business in London at 35, Leadenhall Street for many years, originated with two or more of the sons of a Mr. Webster, a merchant in Dundee, who married Beatrix Proctor, the widow of David Edward of Pearsie, somewhere about 1722-30 (see ante, p. 322, n. 5). I do not know whether more than two of these sons constituted the first firm, nor when they started the business, but they were engaged in it and at Leadenhall Street in 1773-74 (S. W. 650), when they are described as "Messrs. Webster, druggists," a term which would thus seem to have then had a meaning different to or less limited than that which it now bears. From the will of James Webster, dated 14 Nov. 1789, and proved 13 Jan. 1790 (D.C. 105), it would seem that he and his brother John were at one time partners in the house, and I think it probable that they were the two original partners and founders of the firm in London. Of the Wedderburns, on the other hand, Sir John Wedderburn and his brother James (ante, pp. 288, 305) went out to Jamaica after the '45, and when they succeeded in establishing a position there, their prosperity induced other members of their family to follow their example. Thus Alexander, John, and James Wedderburn, the three sons of Thomas Wedderburn of Cantra (ante, p. 342), all went out to Jamaica one after the other, in 1760, 1766, and 1768, as also did their cousin, Henry Scrymgeour (later Wedderburn of Wedderburn) in 1775 (ante p. 179). There can be little doubt that the Wedderburns in Jamaica and the Websters in Leadenhall Street were able to do business with mutual_advantage, and that gradually their interests became more and more closely identified. I am not sure when it was that one of the Wedderburns first became a member of the firm. J.W. in his MS. speaks of the business as having been carried on by various members of the name since 1779-80, but the date must be taken as approximate only. It is possible that one or other of the Websters retired from the firm about 1780-85, and that David Wedderburn, third and youngest son of Robert Wedderburn of Pearsie, then joined it as a partner. The connection between the Websters and the Wedderburns was, as we have seen with the Pearsie branch of the latter family, and David was clearly the adopted heir of old James Webster (D.C. 105). Whether the first partner of the name of Wedderburn was Pearsie's son, David, or John Wedderburn of Spring Garden (ante, p. 343) is not clear. John Wedderburn 1 See also D.D. 146, for a similar use of the word. Part V. had possibly been apprenticed to the Websters before he went out to Jamaica in 1766 Chap. III. (ante, p. 344, n. 2), and was certainly a member of the firm at the date of James Webster's will in Nov. 1789. But, as he only returned from Jamaica in July 1789, and is named after David in the will, I think that he can only just have joined it at its date, although in a few years he seems, perhaps by virtue of his age, to have had the position of senior partner during the life of his cousin David, who alone with him, for John Webster did not long remain a partner (perhaps he did not long survive), constituted the firm for some few years previous to 1796. The subsequent history of the house is clear from the documents in my possession, and there is no doubt that it stood high both for its integrity and its success. "For fifty years, 1780-30," says J.W., in a note to his MS., "the several firms in Leadenhall Street, though not equally distinguished for prudence, were all alike remarkable for liberal and honourable character, and during more than one period of mercantile distress, when the Bank of England hesitated to discount bills for many reputable houses, no bill of the Wedderburns was ever delayed for an instant." In 1796 (May 21) John Wedderburn and David Wedderburn or Webster (for he had assumed the latter name) took into partnership Sir John Wedderburn's eldest son, David, who had then lately come of age. This partnership, under the style of Wedderburn, Webster & Co., was to last for seven years, during which the two first-named partners were each to take five-twelfths of the profits, and the third and youngest partner the two remaining two-twelfths. In event of the death of either John Wedderburn or David Webster during the seven years, all the share and concern of such deceased partner was to cease from the 1st May next after his death, and the profits were to go as to one-third to young David Wedderburn, and as to the remaining two-thirds to the other and senior partner. The clause as to the cessation of the interest of a deceased partner-which excluded from his estate any share in the goodwill and any participation in the subsequent profits of the firm-turned out a most important one, for on 21 March 1801 David Webster died, and this clause thus came into operation. It was the course taken-and, as it was afterwards found, honestly and accurately taken—by the surviving partners that led, thirty years later, to the institution of the chancery suit of Webster v. Wedderburn. The will of David Webster, executed shortly before his death, bore date 10 Feb. 1801. The precise terms are not material here, but generally he left all his property, including, of course, his interest in the firm, on trust to pay an annuity to his widow, and subject thereto, to be divided into certain shares, and paid over to his children as they came of age, or, if daughters, married. The surviving partners had thus to value as against themselves the interest of David Webster in the firm on 1 May 1801, and this, owing to the position of the accounts, was clearly not an easy matter. The gross assets were close on half a million sterling, but consisted largely of debts due to the firm from a great many persons, including most members of the family, and in particular a sum of nearly £160,000 due from the estate of James Wedderburn of Trelawny, who had died in 1797, leaving his brother John of Spring Garden, the firm's senior partner, as his executor. The liabilities of the firm, on the other hand, amounted to somewhat over £400,000, and consisted of debts, half of which were, and half of which were not, immediately payable by the firm. In the result, therefore, some £85,000 represented the net assets of the firm, of which £55,0001 was settled to be the amount due to David Webster's estate, £24,000 as that due to John Wedderburn, and £6,000 allocated to undivided profits. It was obviously impossible to call in at once all the debts due to the firm. The custom of West Indian traders favoured a liberal giving of time, and to have gone against this custom and insisted on prompt payment would have been to turn into present bad debts large sums which with patience would prove to be good ones. This would have meant an increase in the bad debts of the firm to an extent which would have completely annihilated the balance arrived at by the surviving partners, and reduced the amount of David Webster's estate to a proportionate share in less than nothing. The surviving partners, therefore, exercised a wise discretion. They at once formed a new firm, which took over the accounts of the old one, and they then proceeded to pay the liabilities more promptly than they called in the debts. Thus in the year 1801-2 they liquidated the liabilities to the extent of £285,000, while they got in no more than £197,000 of debts due to them. The difference between these sums Accurately, £55,001 2. 1 (see post, p. 447). they provided out of their own property or on their own credit, so that the old firm became Part V. indebted to them to that amount. But in spite of this, and thanks to their discretion in Chap. III dealing with a matter in which such discretion was all important, the position of things gradually assumed a firm basis, and thus the amount due to David Webster's estate increased steadily, till on 1 May, 1809, the year in which his eldest son came of age, it stood at over £65,000, exclusive of a sum of £6,500 allowed to his estate proportionately with the surviving partners for bad debts, and nearly £19,000 advanced by the surviving partners for the maintenance of his children. It is not necessary to go into detail as to the payment of their shares to these children as they reached their majorities. James came of age in 1809, Anne in 1812, Mary in 1814, and Charles in September 1820, while David, the youngest child, died in 1816, and so increased the shares of each of his brothers and sisters. Thus, by the end of 1820, the affairs of David Webster in relation to the firm were wound up and their shares had been paid to all his children, and accepted by them, after full examination of the accounts by their solicitors, in complete discharge of all that was due. It was not till many years afterwards that they successfully sought, as I shall show later, to go behind their discharges and re-open the accounts. Meanwhile, between 1801 and 1820, the prosperity of the firm, I believe, both reached its zenith and began to decline. Some differences had occurred in its constitution. In about 1803 Andrew Wedderburn-Colvile, who had joined the old firm as a salaried partner at £1,000 a year in 1798, had become a regular member of the house, which was further joined in 1810 by Alexander Seton, and in 1810-18132 by James, eldest son of old John Wedderburn, while in 1815 Sir David Wedderburn retired from it, and a new agreement was entered into for five years by the four remaining partners, among whom the profits, after setting aside one-tenth for casualties, were to be divided into fortyfive shares, of which ten were to go to old John Wedderburn, ten to his son James, sixteen to Andrew Colvile, and the remaining nine to Alexander Seton. The style of the firm was also altered to Wedderburn, Colvile & Co. This agreement was renewed in May 1820, but was terminated at the close of that year by the death of John Wedderburn. On this, a new firm was once more formed, under the style of Colvile, Wedderburn & Co., consisting of the three surviving partners, who were joined by old John Wedderburn's second son John (of Auchterhouse), and this firm continued until May 1830, when James Wedderburn left it, "his retirement compelling, and being accompanied by that of his younger brother John" (J.W.'s MS.). One other firm was then formed, viz., that of Colvile & Co., consisting only of Andrew Colvile and Alexander Seton, and lasting until May 1836, when the latter retired and the firm came to an end, although Mr. Colvile still conducted a business of his own, in which he was assisted later on by his son, Eden. The Jamaica properties, in which the different firms (or some members of them) were interested, were numerous, and at one time exceedingly valuable. I have already (ante, p. 344, note 4) made some reference to them and the value attributed to them by J.W., but there were others in addition to those there mentioned. J.W., as I have said, states that his father owned Spring Garden, Mount Edgcumbe, Paradise, Retreat, Moreland, and Bluecastle, valued at one time at a total of £220,000, in addition to the smaller properties of Prospect, Jerusalem, Hill's Mountain, and Burnt Savannah, and to the Mint and Trelawny estates of his brother James. But besides these I find references to many others as belonging to members of the firm or family, viz., Blackheath, Blackness, Berricon, Carawina, Colvile, Green River, Newfound River, Three Mountains River, Fontabelle (the dowry of Andrew Colvile's first wife), and the estate of Belle Vue in Demerara, which Andrew Colvile purchased in 1820-21, much against the opinion of his partner, James Wedderburn. They owned also several vessels, either wholly or in part. In the accounts for 1801 some six are mentioned, viz., the " Arniston," ," "Jamaica Planter," "Melville Castle," 1 An action by the firm on a policy of insurance on goods on board the "Minorca," sailing from Jamaica to London, which was tried before Lord Ellenborough, 1 Dec. 1807, and resulted in a verdict for the defendant, is reported in Campbell's Reports, vol. i., p. 1. ? He signs a letter as partner in 1811, but did not share in the profits till 1813-14. 3 This vessel may be the same as one of its name which belonged, in 1790, to the East Indian Company. See the European Magazine for 1790, in which there is a list of the company's ships sailing from or due in England, including the "Melville Castle" with "David Wedderburn, Esqre., husband," on board. I have not, certainly, identified this individual, but he may well be David WedderburnWebster (ante, p. 329). |