The depositors in the Tipperary Bank, and the cost of proving wills and distributing small assets in Ireland

Abstract

On the 16th of February, 1856, occurred one of the most serious calamities in Irish affairs in the past half century—the failure of the Tipperary Bank, consequent on the frauds of John Sadlier. In the Annals of our Time the deficit of the Bank is stated at £400,000, and the assets were stated would be little more than £30,000. Much sympathy was felt with the sufferers, as it was known that some part of the £400,000 was due to Tipperary farmers and labourers, who had been depositors in the Bank; and considering that the amount of deposits in all the Joint Stock Banks was at that time only £12,000,000, a loss of £400,000, with only £30,000 assets, in four counties, was a very heavy calamity.