The Sun. — London, England, 1853-07-05 00:00:00

ortly odera- Igo of fears. caking ers to net of npt to )osed ; to its e that utting e eyes ig tes -3e still tussia, twins- Rus ►f the- 1 )jects, re all d the new 1 to G is to 15th, ;mall .f 3 that d that Lde by oar the itherto ed at I enjoy , ve aro t ! an as of s held urch, ;xtent in fa 4 fficult a rew from lay at ns of ), the ;o the r, the tnd a lone& s,and iange losing 40c. ; •-• ✓ the -and ,6sof. aria • rise Here, arke n the rove' •Parie own, 10f. ; near, 872; 85f. ; )05f.; 02f.; • ult., :rally n re" [1 the 3serts 3undi is do and to be dis has The 1 ,000 the Tors. St. was If the 3sita ;et to com per- -4 did from 5 ser nfor- uali f the U to as to MONEY MARKET AND COMMERCIAL INTELLIGENCE=-(THIS DAY.) CITY, TWO O'CLOCK. The sales of cotton at Liverpool yesterday were estimated at 10,000 bales 2 of which 4,000 American were taken for export and on speculation The mar ket was very firm, and closed with prices of Ame rican tight. Other kinds without alteration. The sales comprised 8,000 American ; 200 Pernam and Maranham, at 6-gd. to Bd. ; 150 Bahia, at bid. to 6/d. ; 1,000 Egyptian, at 6d. to 12d. ; 700 Surat, at 3d. to 4id. ; and 120 Sea Island, at ls. 10d. to 2s. 6d. per lb. Railway shares were very dull, at a decline of one per cent. on all the leading stocks. The Savings Banks' deputation from Scotland, which waited upon the Chancellor of the Exchequer a day or two since, was composed of very influen tial parties in Glasgow practically conversant with the management of such establishments, and there fore entitled to have their opinions treated with due consideration. Among the gentlemen who at tended were James Drummond, Esq., Willi am Meikle, Esq., Melville Jamieson, E q. , James Mac gregor,anjihnndseevrseoranl Sherrock, Esq., Thomas m.p., Essqir Grant, mj Esq., M.P., Charles Cowan, other members of the legislature. The object of the deputation was to induce the Chancellor of the Exchequer to modify some of the stringent pro visions of his new bill, so as not to interfere too much with the existing managers and tru s t ees , w h o at the same time appear to be conscious that a more stringent system must be adopted in order to give full security to depositors. It is admitted that all the banks are not equally well managed, and therefore a check is _indispensable, b u t th e v i ews o f the deputati on may be gleaned from the follow ing : " Without going into the details of the measure, the following may be stated as the more p rominent of the provisi ons to which the memorialists are instructed to object:— I.— CONSTANT PERSONAL ATTENDANCE OF TRUSTEES (clauses 11, 13, and 32).—This regulation is objected to as being wholly impracticable, unnecessary, and inexpe dient. It is utterly inconsistent with the benevolent and gratuitous nature of their office, and would demand a sacrifice of their time and attention to which they could not submit. The other securities and checks which will be obtained under a proper system of audit and inspec tion, render the requirement unnecessary. The proposed enactment is inexpedient, in so far as it is calculated to deter the working classes from becoming depositors, when they are called on to make their deposits and withdraw their funds in the presence of their masters and other employers, to which they are generally re luctant. " IL—REDUCTION OF THE RATE OF INTEREST (clause 18).—,The bill proposes to reduce the present rate of 31. ss. per cent., to 21. 10s. with an allowance of 6s. Bd. per cent. for expenses of management, subject to the control of the Commissioners for the Reduction of the National Debt. "1. The memorialists object to this reduction. From the results of long practical experience they confidently maintain that the present rate of interest forms one of the most powerful attractions to the working classes to become depositors ; while it is not so high as to offer any temptation to abuse on the part of those classes not designed as beneficiaries under the savings' bank system. "2. The cost to the country involved in the mainte nance of the present rate is insignificant compared to the national benefits derived from a liberal encourage ment and extension of savings' banks, and the important influences they exert on the morality and industry of the people. If the reduction is sanctioned, the wealthy capi talist will be enabled to derive a better return from the public funds than the working man, and Government will make a small annual gain of the investments of the working classes—thus in both way reversing the prin ciple of all previous legislation on the subject. "4. If a uniform fixed rate is enacted for depositors, there is the greater necessity for a rate more nearly approximating an average rate than 2/. 10s. per cent. ; and it should not be less than 2/. 155.. per cent. ; which would involve no expense to the country. " The trustees of the savings banks in Scotland deem immediate legislation necessary, with the view of giving increased security to depositers. " Besides urging the above objections, they would respectfully suggest— 4" I.—That in place of appointing receivers, which would entail a, heavy expense, and create an anomaly in the management of the Bank, the Government might with perfect safety interpose their guarantee for the repayment of all deposits 1. The appointment by the Government of the chief officer of the Bank, on the recommendation of the trustees and managers, with power to the Government to remove him at pleasure. 2. On being satisfied of the extent and sufficiency of the security bonds of the present office bearers. 3. On a periodical examination of the books of the Eauk by the trustees and managers. 4. On the appointment, by the Government, of an efficient body of auditors and inspectors, acting independently of the trustees and managers. " Such a system would afford more practical safe guards against fraud and mismanagement than the pro posed appointment of receivers. It w o u ld h ave no injurious effect on those institutions which have been uninterruptedly prosperous, and well managed ; and the saving effected in the expenses would form a sufficient fund for a guarantee against every possible loss. " 11. For the still more complete protection of the Government, the memorialists would suggest, that in stead of the provision in the bill which sanctions only one audit in the year, on specified days previously known to the officers in attendance, power be given to the auditors and inspectors to enter the bank at any time, -without previous intimation, and examine into every detail, and especially to compare the ledgers with the depositors' books produced in the ordinary course of business. "This audit and inspection could be accomplished 'without difficulty, and at the same time be more con clusive and satisfactory to the Government than, the mode suggested by the bill." There is a rumour th a t th e F renc h G overnment has received intelligence from the English Govern ment that the Fleet is not yet to enter the Darda nelles. stiThe English Securities have been fluctuating and there is compartively strong support given, notwithstanding the official order from St. Peter s b urgli to enter the Turkish principalities, owing to the cordial co-operation between England and Fra nce. Consols have been for the account at 97 , and are now 971 The New 3t per cents. have been 1001 to 104, and the 3 per Cents. 981 to• Bank Stock has been firm at 2281 to 2291. Exchequer Bills have been weaker at .1 s. to 4s. premium, and India Bonds are at 255. to 30s. pre -731111131. is Foreign Securities have been variable, but there still no extensive selling. Mexican, Bonds have liceeu done at 26, and Brazilian New per ciuene,t,ts. at 98i. The Swedish Loan has been in re are at Zl l , tad .to premium. Sardinian Bonds f c u e l n ly ts n a l voertebd lan 5 per Cents. have been Russian to 117. Dutch per Cei:t a s il h waavy shaereens sh a aa t tv: 6 2 3 l ; je t n o 1. Spanish 3 per the D . eferr:d. bee l3, ll Thi s tea.dy at 45i to 46i ex div., and moderately dealt in, and prices have not v ari have been firmer, and o r much- South-Western The Gold Mine sh ar T s French shares. and nominally are supp orte re been very quiet, The shares of the .I.and C "Vames have ad vanced. BRITISH FUNDS THIS DAY AT o v „ (From the Oficial List. ) 7 -4 Moog. Bank Stock 22fF done. 3 per Cent. Reduced Annuities . ...... 9B 3 per Cent. Consols Annuities shut New 31 per Cent. Annuities lOl 10 01 Long Annuities, Expire sth Jan., 1860 ..• 5 13-16 Dittc 30 Years, Expire 10th Oct., 1859 India Stock India Bonds, £lOOO .. Ditto, under £lOOO. Consols for Account ... Eachequer Bills, ld. £lOOO .... 2500 Small . 25 30 97i i a i PRICE OF FOREIGN FUNDS AT ONE O'CLOCK. Brazilian Bonds, 5 per Cent Ditto Small Ditto 5 per Cent. (Rothchild's) 99 Ditto New, 1852, 4i per Cent 9B 7 Mexican 3 per Cent. Russian B on d s, 5 per Cent. ll6, 17 Sardinian Bonds, 5 per Cent 93 Spanish Bonds, 3 per Cent 4 5 2/ 64 Spanish New Deferred, 3 per Cent 24 ... D itto Passiv e (C onverted) - ,131)a.uish Committee Cert. of Coup. no t fun si 'weclish L oan . v ,_, . Dividends on the above payable in London. t e gl.yl 4t per Cent. 'h Exchange, 24 per Cent. Console for HA LP-PAST TWO. Openin g 19th July 97i l i . x d -_________ Trident M om Flll4 oN 130 ARD TEE T RIDENT STEAMER.—WhiIe the livening her cargo g Edinbu r h) was yesterday evening de alongside St. Katharine's-wharf, a fire broke out in the after hold, which could not be entirely checked until th e v esse l was filled ith wat from the fire engines in attendance. The fi re w was con er fined to the hold in which it originated. About one third of the carg o h ad been discharged when it occurred. VESSELS IN IDISTRESS.---e T Au conseq uence o f a commu nication received from the sioners of Customs have is - s and of T ra d e, t h e Commis and comptrollers s ued ord ers t o t h e co ll ectors , at the seve ral ports th roug h ou t th e United Kingdom, directing them to report whether vessels dri ven i n t o their respective weather are exempted from all d ues, and the ship s , an d w h at are ther e gu ports by stress of both on th e cargo the cargoes o f s hi ps entering in lations as regards di stress, and as unseaworthy, i n t h e event of a tation in oth er vesse l s, reshipmentnd expor condemned :41 e . pc P THE SUN, LONDON, TUESDAY EVENING, JULY 5, 1853, (BY ELECTRIC TELEGRAPH.) Closing Prices Yesterday. Business done this day. SEVERN STAKES. Octavia Osbaldiston 26 -- Five ran. 5 - 5i 9i - 104 SPORTING INTELLIGENCE. 9 7 dl 10 - St. St. 20 10 15 50 St. 16 17 all 10 100 100 100 100 100 all 100 all 15 21s. 100 20 11 100 100 all 100 5 100 all 1 100 6 100 100 - 100 100 all all all 100 all 100 20 - 22 3i -- 2i d 100 -- 101 66i -66 i 21A -- 22 19t -20 A 3i - 4p 8 - 9 51 - 12 - 12i1 lli - 12 Q - 9 71 - 72 50 - 55 70 - 72 23 . -- 30 84 i &SAI 53 551 133 - 135 109 110 88 —88 i 100 105 17 18 p 76 764 —44 d 3 g — 34 d 14 —l5 sa si 2 p 1031 1(41 1114 1144 1— 14p 881 891 54 d 44 3d 11 13 18 20 2!_ 291 --ti - 704 40 - 421 51 - 57 i- i p 2i - 3 8 - 9 49 - 51 32 i 33 ii d 5 • 84 - Eit 47i -48 i 92 - 94 58 - 62 58 - 62 68 72 14 idis 17 19 84 94 13j 144 3j -34 d 19 21 69 70 35i 364 13 -- 14 23 - 25 2a 2 14t 154 9 94 32 10 104 4 d par 67 - 68 8 - 28 -- 57 - 58 1004 5n 3 133 87i si (BY ELECTRIC TELEGRAPH.) NEWMARKET - (THIS DAY.) ARRIVALS. 10 all li all Pm 7G k 11i 14i 104 3i 1144 14 89 8 28i 70 I 36 5i 67i 8 lli 12i 57. 108.1 34t i 25i i 35} 41 SHARE MARKETS.-(TBIS DAY.) I WORCESTER RACES. (THIS DAY.) July Stakes—Astolfo, Calliope, Marsyas, Mirabeau, Druid, Haze, Student, Brigliadoro, Macduff, Caliban, Delia, Quince, Mountain Hawk, Spinaway. Run at 3.45. EVITERI AL PARLIAMENT. HOUSE OF LORDS-(YESTERDAY.) The LORD CHANCELLOR took his seat on the woolsack at five o'clock. CRIMINAL LAW IMPROVEMENT. Lord LYNDHURST asked the noble and learned lord on the woolsack when the committee on the bill for the improvement of the criminal law would meet again ? The LORD CHANCELLOR said the committee stood over for the convenience of the Lord Chief Justice. Lord BROUGHAM hoped an early day would be fixed, as it was of great importance that the committee should finish its labours as early as possible. The Earl of DERBY presented a petition from medi cal men of the town of Croydon, pray:ng for legislation for the improvement of the medical profession, and from Staines praying for the abolition of the duty on the ex por';ation of British salt to India. THE SCOTCH BANKRUPT LAW. Lord BROUGHAM rose, according to notice, to pre sent a petition from merchants and traders of the city of London who were concerned, in the trade with Scot land, on the subject of the Scotch bankrupt law. He should certainly feel much disappointed if their lordships did not favour him with their attantion while he slated some matters respecting this petition, for it must be ad mitted that, generally speaking, though petitions were respectfully received by their lordships, there was a great indisposition to attend to anything respecting them un less they had to touch upon some personal or party mat ter, and then there was no lack of attention either to the petition or the motion made thereupon, or any mat ter mingled with it. He was sorry, however, to add that not only was this a petition, but it was a petition on a subject which was in itself not very likely to be a lively one. It was upon the subject Scotch bank ruptcy. But he should first state to their lordships who the petitioners were, and what their interest was in the subject before he proceeded to give their ssatement of their grievance and their suggestions for the remedy of that grievance. The petitioners represented the first houses in the city of London in every respect, and the first houses concerned in the trade of Scotland. There were upwards of 200 of these firms, the partners in which had signed this petition, and when he looked at the names of these firms, many of them he recognised as well known to him as being among the first in the city of London, and others he knew as holding that position by their description from persons intimately acquainted with them. To show their importance, it might suffice to state that five of the houses out of the 200 repre sented by the petition carried on business with Scotland to the amount of considerably upwards of 1.000,000/. sterling a year. He had a petition to the same effect, complaining of precisely the came grievance, from par ties not in London, but connected with and carrying on trade in Scotland. This was a petition from Sir James Campbell and other office-bearers in the Glasgow and West of Scotland Guardian Society for the Protection of Trade, and who, as such, were interested in the pro per administration of the estates of bankrupts and in solvents. Every one who was acquainted with Glasgow was acquainted with the house of Sir James Campbell and Company; and this society was composed of mer cantile houses who were all the great traders in the city of Glasgow. He had also a petition from a cor porate body (the directors of the Chamber of Com merce and Manufacturers, estab' i shed by royal charter in the city of Glasgow, under the seal of the corpora. tion), and signed by the chairman and secretary. Another petition with which he was intrusted was from the Mer chants'-house of Glas g ow , also a corporate body, signed by the Lord Dean of Guild, and sealed with the seal of the corporation. He had also two petitions, to nearly the same effect, from different parts of England ; one from Bradford, from the town-council; and another from Carlisle, the merchants and manufacturers of which city, from their proximity to Scotland, were deeply in terested in this matter, a . :sing out of the constant com mercial intercourse between them and the northern parts of the United Kingdom. From Huddersfield he had a petition, signed by 23 merchants and manufacturers, and from Caper Fife a petition signed by seven procu rators practising before the Sheriff and Court there, who were parties interested in the proper administration of the estates of bankrupts and insolvent 3 in Scotland, and in the assimilation of the bankruptcy and commer cial laws throughout the United Kingdom. He be lieved that a vast number of other petitions would very soon be presented to their lordships, all upon the same subject, all complaining of the present system, and a'l craving a speedy and effectual remedy. The case was shortly this—and he would solicit the attention of his noble and learned friends while he alluded to it, for it must be admitted that though they were not bound to listen to all the suggestions which mercantile men might give for the reform of the law relating to bankruptcy, and though their lordships were bound to exercise their own discretion according to the best lights they could obtain, yet when the question was as to the sufferirga which were experienced under the present state of the law, they were bound to listen to those who were the sufferers, and who addressed their lordships for the pur pose of detailing their grievances, because it was the most important fact in the case that such grievancei existed, and that such sufferings were by the petitioners endured. Now, the petitioners set forth the manner in which the law affected them, and he should endeavour, as distinctly as he could, to explain the state of the law. In 1831 a great change took place in England on the subject of the bankrupt law ' as was well knowc to h's noble and learned friends, a ndthat change was deemed to be necessary by the evils of the previously existing system. Now, suppose that instead of the evils now compls ined of, and which led Parliament to reform the law—suppose it had been the case in England tbat the assignees of a bankrupt not only were apt to forget their duty, to go to sleep over their duty, and not only to gather in and re alise the bankrupt's estate, but that they had an indirect interest in not doing their duty. In one instance, he re membered, it had been found—and this was one great ground of the change made in England in 1831—that there was occasionally an indirect interest on the part of the assignees inconsistent with their duty; and where a bankrupt had funds it was found that there was a tendency to allow the proceedings to linger on the part of the persons intrusted with these funds. In Scotland, how ever, the matter was a great deal weree. There was not only the same chance of neglect, and the same tendency on the part of these persons to slumber over their duties, but the trustee was there a paid officer, which the En glish assignee never was, and he was interested directly in delay by receiving payment. The trustee received a commission, which commission was awarded to him in the manner he would presently describe, and the conse quence of his being a paid officer their lordships would soon perceive. Suppose another difference had existed between the English bankrupt law in 1831 and the law as it at present stood in Scotland. Suppose the assignee had not only been the administrator of the funds arising out of the estate, but had been also vested with judicial functions ;, and bad had to adjudicate upon the claims of creditors as well. Yet that was the case in Scotland at this instant. He did not believe a system could have been more cunningly devised to frustrate the great object and views of the equal distribution of the bankrupts' estate and the prevention of fraud and of delay—he did not think anything more cunningly devised to accom plish these two ends could have been conceived than the system which had long prevailed, and which still, he was sorry to say, almost in the full force of its abuses, continued to prevail in the bankrupt law of Scotland. First, there was the .choice of the trustee. For this officer no qualification was required. He ought to be both an accountant and a judge. Instead of this, how ever, he was required to possess no learning whatever— no qualification of any sort. But there was one re quirement—the trustee must have a majority of votes. Every kind of means, approaching even to corruption, were consequently used for the purpose of obtaining office, and after that, as in the case of an election for the other house of Parliament, the return of the trustee was capable of being set aside. As there was always a competition for the office—always what might be called a contested election—so there was, he would not say al ways, but very often, a petition, as it were, against the return of the trustee ; and an application to the Court to set aside that return, led, as in the case of a Parliamentary petition, to " a scrutiny,"—namely, a scrutiny of the votes of the creditors by whom the trustee was elected. The case would, under such circumstances, be heard before the sheriff, who was the judge-ordinary of the district, from whom there was an appeal to the Court of Session, and from the Court of Session to this house. The true. tee had judicial functions. He had to decide upon the claims of creditors, but from his decision there was again an appeal to the sheriff, from him to the Court of Ses sion, and from the Court of Session to this house. The trustee was never a lawyer, but it happened gene rally that he was a trader, though he was sometimes not even that. He ought to be both a lawyer and an accountant, while it often happened that he was neither one nor the other. As the office of trustee was a paid one, there were many who devoted themselves to the post for the emoluments to be derived from it, and thu s was created a class of accountantOs uch as existed a few years ago at Guildhall, and whom his noble and learned friend the Lord Chief Justice would, if he were pre sent, recognize under the description of accountants who could give no account. In his judicial capacit y, when sitting to decide upon the claims of creditors submitted to him, questions of the greatest difficult 7 broughtsometimes e efies b q ef ue o s r t e ion h s im of — e s qU m it e y t , iin an e d c onstantly q s questionsof uestions of fact— in all which the trustee acted both as judge and jury. Those who were acquainted with the stat e o f the Scotch law would know tha t the practice in the courts there was unhappily different from our own —that the principle of fusion had been adopted there, and that there was no difference between the court of law and of equity. This trustee, however, was in all cases ignorant of the law, so that when a very important bankruptcy occurred he was aided by an assesor, who was a lawyer. This was of course all at the expense of the bankrupt's estate, and therefore at the cost of the creditors, and lie him. self had known an instance not long ago—not more than 20 or 25 years since—of a very important bankruptcy in which the trustee was aided by a learned person who was afterwards a judge in the Court of Session—Lord Cunningham—and they sat for many days, and he might say weeks, in unravelling the, circumstances con nected with this bankruptcy, eminent counsel being engaged, with appeals possible at every stage and at every decision given by the trustee, and with ono ap peal of which he had reason to know something, for it did not stop with the sheriff, but went next to the Court of Session, and afterwards to their lordships' house ; he referred to the remarkable case of " Grant and Baillie," the only instance he remembered in which the judges of England were called in to de cide a Scotch case. By the bill which he (Lord Brougham) had introduced power of appeal was only given to the Court of Session, for he looked upon the appeal from the trustee to the sheriff as entirely useless. Under the present system three of the creditors, or agents of the creditors, were chosen as commissioners. These commissioners had no qualification, and were supposed t o be a council, by w h ose adv i ce and opinion the trustee might if he thought fit, be ruled, though he was not bound to be so. The natural consequence was, that when the trustee considered there was a responsibility involved in the case he would call in the council, but when he thought he could do without them he would not call them in. One function of great importance wr,s performed by these commissioners —th e y audited the accounts of the trustee and awarded his commission, so that his salary was so far in their hands. Now, the trustee was frequently enabled to exercise a great voice in the choice of the commissioners ; the kind of votes by which they were elected very much depended upon him ; and the consequence was, that in many cases i*z was found that the commissioners, owing their el ec ti on to the trustee, were disp ose d to favour him in auditing his accounts and in fixing his payment. There was on part of the existing law which very much facilitated any improper proceedings on the part of the bankrupt and trustees. Not less than eight, though not more than 14 days from the period of sequestration, as the bank ruptcy was called, were allowed the bankrupt for ; , 11 these contrivances, and for fraudulent purposes, if 1; was inclined to devote it in that way. There was power of taking possession of the bankrupt's proper -- until eight days, and it might be 14 days, after ti. bankruptcy. In the meantime the bankrupt COl7 . make away with his property, and, if a dishonest mai., he might occupy that time in crewing votes on fraudu lent or fictitious claims so as to elect a trustee of 1,;;, own nomination, in giving illegal preferences, and i:, making away with and concealing his property. Nov, . it was quite bad enough that there should be an elee tive court of justice at all, but it was monstrous tina there should be a court of justice appointed by electioa in each particular case—and that, be it remembered, not a court of arbitration appointed by the choice of the two parties, but by a number of creditors, with all the evils incident to such a system. By that body, and in that way, was the court in each instance constituted. He had referred to the possibility of appeal. The ap peal might take place in the case of the choice of th assignee, or trustee as he was called in Scotland, and perhaps two or three years, as had been known to be the case, elapsed before the choice was confirmed. A" this while the unhappy creditors, who had or ought t ) have no interest whatever in the matter, were kept out of their rightful claims. They did not care one rush which of the two rival candidates to the office was suc cessful ; all they wished was to have the business done. The petitioners stated how much they suffered undo this system. " The season," they said, " for which th bankrupt's goods were manufactured passes away, the articles get out of fashion, and a fall in the market often takes place which greatly diminishes the value o: the bankrupt's property." Another evil was, that th;: bankrupt was often disposed to offer a composition wits which the creditors would be satisfied, but, until the choice of the trustee was finally confirmed, that compo , :- . - tion could not be accepted, a nd in the meantime the bank rupt otherwise disposed of money with which he had intended to satisfy the claims against him, and the cre ditors were often entirely frustrated in their endeavours. With regard to the system of class certificates whi&l now prevailed in this country, instead of adopting the English change in the law in this respect, and taking from the creditors the whole of the power of granting certificates, this power remained throughout Scotland 711 the hands of the creditors, subject to all the evils pointed out by the commission of 1839 and 1840. By dint of canvassing, by private interest, and not unfrequently by direct bribery, the bankrupt now gave certain powers to certain creditors for the express purpose of obtaining their vote. Again, no provision was made for the public examination of the bankrupt. The old act said he should be examined publicly, but, practically, the bankrupt was never examined in public, but always privately. There was also no examination—at least no effectual ex amination of the creditors themselves. He would fai hope that the petitioners were mistaken in the state ment that, under the present system, there was no pro vision for the examination either of the bankrupt or of the creditors. He thought that must be a mistake, because under the act of 1851 he believed provision was made to enable the court to examine the bankrupt, and, in fact, to compel his examination. Upon all these grounds the petitioners prayed their lordships to adopt the bill which now lay before them awaiting a second reading—a bill which he had the honour of introducing : and they added, also, that the course which that bill took relating to arrangements in cases of insolvency wk-,s advisable and ought to be adopted. The Faculty of Advocates having bad under their consideration 6.3 Lord-Advocate's bill on the subject, disapproved a goc part of the bill, expressed no opinion a 4 to whether went far enough or not, but added that they did appro'. • one portion of the bill, which, in his opinion, was th.: only step of any importance in the measure--namely, that of giving immediate possession of the bankrupt's papers and books. He was bound to say that the me: - sure which he brought before their lordships, and in L. - half of which these petitioners addressed the house, th other petitioners joining in that prayer, had been mo carefully prepared by persons well versed in the Scotch bankruptcy law—by practitioners both at the Scote'i and English bars ; and the measure had been by them prepared with the greatest possible knowledge of all the details. He had only to mention the name of John Gilmour to prove that the bill had received atten tion from one possessing a perfect knowledge of the law on the subject, and a complete acquaintance with th 3 practical working of the present system. It wes said that the change which had taken place in ti.e English law, and to which he had alluded, was le -s applicable to Scotland than England. There might be other parts of the law than those he had mentioned in which the Scotch was more to be approve_) than the English law. What was the moral of thi , It was, that the whole matter should be carefu: v considered by those commissioners who had been fee cently appointed to take into consideration the assimii:- tion of the mercantile law in different parts of the United Kingdom. That commission proceeded from the Go vernment, as their lordships were aware, in consequen. of a great conference held last year, at which, in the first place, the noble lord on the cross bench (the Ezel of Harrowby) presided, and over which, secondly, le: (Lord Brougham) had presided, composed of represee tatives from all the great trading towns in Englaiel, Scotland, and Ireland. The idea of that conference had, he believed, arisen from the formation of differcet societies for the amendment of the mercantile lave particularly in some parts of Scotland. A vt- y learned person, Mr. J. Stewart, having been in Scot land, had had communications with those parties, lied he rather believed it was in consequence of the com munications between him and some of those bodies in the west of Scotland that the conference was appointed. It had given him (Lord Brougham), he must say, great satisfaction to preside over the conference question, because a more moderate and more rational assembly of persons could hardly be conceived upon any matter so interesting to the feelings of the indi viduals themselves. They were all interested in the trade, commerce, and manufactures of the different towns from which they came, but there was no tone of violence, no headlong steps taken towards a change no desire of change from the mere love of chance, but, on the contrary, what was done was done in the most rational and temperate manner he had ever heard. Another gentleman, Mr. Leone Levi, who Lad devoted a large degree of attention to the subject of the continental mercantile law, had promulgated the idea of an international commercial code, and a noble duke tied his Royal Highness Prince Albert were understood to support the opinion he expressed, that the state of the world was ripe for the formation of a general interna tional commercial code. Others, however, had had some doubts about this, and had thought that, at all events, we should begin more humbly, by considering whether or not a commercial code could be established for the United Kingdom, leaving other countries out of the question,—at least for the present. The conference had bound itself to that opinion, but without giving up the hope that they might live to see a more general union among the different nations of Europe on this subject, and the formation of one general international commer cial law amorg all civilised nations. The differences at Present existing between the various codes were not very great, but where those differences existed they were v ry embarrassing. He ought to apologise for having so long detained their lordships, but he had deemed it his drty to the petitioners who had intrusted to him the pre , Ai teflon of the petition to state the facts which he laid before the house. He did not intend to press e.or ward this session the bill to which he had alluded, I eit lie considered it would be in its proper place i f refei 1 to the Assimilation Commissioners. (Hear, hear.) CHURCH BUILDING ACTS AMENDMENT BILL. On the motion that their lordships do go into c mittee upon this bill, The Earl of HARROWBY said that as the second reading bad passed without observation, he wished to state 'briefly the objects of the bill. These were to oin number ; the first being to give facilities for the aggre gation of small livings in populous cities and. towns. In the city of London, for example, there was an intineuse accumulation of churches, forming no doubt .a great ar- • chitectural attraction to the metropolis, but doing l'ttle for its spiritual welfare. Even at the time of the great fire, there were far more churches than were necessary for the wants of the inhabitants. The first act wilich passed for rebuilding the city restricted the number of new churches to 37 ; but three years afterwards, the number was extended to 51 ; but no fewer than -t of the old ones were suppressed, such parishes and ene ow ments being united to others in their neighbourhood. The number of churches, however, was s till very con siderable. In one instance there were 710 fewer than five c hurches to serve an area and populat ion not I:.:•ger than that of Grosvenor-square, and several. other site ear cases !night be named. Now the populati on of the City had n Jot only diminished, but the number of those who remained within its precincts on Sunday had decre,fsed to an. oven larger extent, insomuch that there were now many .churches in a position similar to that in Ireeinil, where Dean Swift used to commence the service with " Dear ly beloved Roger," there not being a congreogiad tion la age enough to justify his use of the: plural l; " bretl eren." (A laugh.) This did not arise from any bad fa eling towards the church, or from a:ly indieeosi tion clip the part of the clergy to do their .duty, for the same -thing had happened to dissenting me siting-houses, eight. or ten of which had lately been :than doped. and pulled down, or converted to other purposes. The truth was that the causes which had in ancient tines caused vast populations to be pent within walls, had long tsince ceased, and London was now fast, beco,aing a city of shops and warehouses. (Hear,. hear.) The questi on then, was, whether it was not batter that the churd hes and endowments should follow• the people I (Heal hear.) The present law gave tbe bishop the power r to order by a faculty, a church tab( pulled down, and :3 ISO to unite contiguous benefices; but in the f,',rmer case. the process was inconvenient, and in tl to latter tale ne cessity for the benefices to be contiguous, would interfere with the end in view. The first eight clauses then proposed to deal with this part of the subject. The rest of the bill treated of patronage. The noble and learned lord on the woolsack was greatly concerned in this matter, fo he held the patronage of no fewer than 754 benefices, the total annual value of which was 190,0001., besides t alternate presentation of 23 benefices, the total value which was 7,8771. A vast number of them, however, were of an insignificant and wholly insufficient amount ; and the bill would, therefore, enable the noble lord to part with a portion of his patronage, with a view to parishes being consolidated with other. Powers. would also be given to various companies to part with their patronage, not for any pecuniary advantage, but for the purpose of improving other livings, and so creating new parishes with efficient means for the cure of souls. He was aware that some persons thought it was iniproper that a layman should interfere with church matters at all but such would not be the opinion of their lordships ; for the laity were as much a portion of the church as the clergy. In the present case he had been a member of a commission recently appointed to consider this question, and the bill had met with the unanimous sanction of th , .; commissioners, including the Archbishop of York, th Eishop of London. and another right rev. prelate. The Earl of PO WIS said it was hard to criticise any measure relating to the church that emanated from is noble lord so well known for his judgment and zeal in such matters as the noble earl ; but still he thought the measure was open to grave objections. If this bill passed in ii s present shape they might destroy an old church, and convert it to secular purposes, and a bishop might be scoffed at for one day consecrating a church for re ligious purposes for ever, and the next day signing a v4arrant for the destruction of a church and applying the site to secular purpose!.__ The Bishop Of LONDON said the bill was the result of a commission issued by her Majesty to inquire into the best means of subverting large parishes, and of making more effectual provision for poorer beneaces. The noble earl needed no vindication for bri ng i ng i n the Mil, but , if one were needed, it would be found in the f..ct that he brought in the bill, not on h;s own respon sibility, but on the responsibility of the commission to which he had referred, It was a matter of notoriety that the churches in the city of London were far more numerous than the wants of the community required. That had been a matter of remark as long as he could remember. He thought therefore they were abundantly justified in bringing in this bill. He hoped their lord ships would allow the bill to go into committee. Alter a few words from the Marquis of BATH and the Earl of MALMESBUEY, their lordships went into commit tee on the bill, and the first five clauses were agreed to. On clause 6, The Earl of POWIS moved the omission of the clause. The clause gave power to sell the site,and the burial-ground attached to a church. He thought such a power ought not to be given. The Bishop of LONDON supported the clause. The Bishop of SALISBURY agreed with the noble earl (Malinesbury) in many of his observations ; but he thought he was pushing his feelings to a degree that was opposed to the public interest. It was not possible, in a metropolis like this, that a church should remain as a ruin, and a burial-ground as an unoccupied site. He hoped the noble earl would not continue his opposition. The Earl of DERBY said he did not think the analogy which the right rev. prelate bad drawn was cor rect with regard to the power given under the Sewers' Act. In that case the bishop was only empowered to consent to what the Commissioners of Sewers thought desirable. He entirely sympathised with the views of the noble lord behind him as to the opinion of the public with regard to the pulling down churches and the re moval of burying-grounds. The case presented by the right rev. prelate with respect to the City of London specially was peculiar ; but the bill was not framed to meet the exigencies of the City only, and such consider ations must give way, and the minor evil must be en dured, when the object was to confer a gain on the public generally. He suggested to the noble lord that, omitting the metropolis, in all other towns the consent of the municipal corporations should be obtained before the church was pulled down or the burial-ground abolished. The right rev. prelate could have no wish to exercise an inviduous power, and it was clear that his object was to be effected in a legitimate way. Some conversation took place on this suggestion, and it was understood that the Bishop of London expressed his readiness to adopt it, but the Earl of Harrowby objected to accept an alteration which would alter the principle of the bill. - The amendment was rejected without a division, and the clause was agreed to. The remaining clauses were agreed to, and the house resumed. EXCISE DUTIES ON SPIRITS BILL. Earl GRANVILLE moved the third reading of this bill, and stated its general principles. Lord MONTEAGLE took the opportunity of stating that he viewed this bill, in its principle and application, with great alarm. He approved of this effort at equal ising the duties on spirits in the three countries, but he feared they were playing tricks with the revenue, and he doubted the wisdom of reductions in England in order to benefit Ireland and Scotland. As it stood, it was a bill to lose and not to gain revenue. The spirit duties of Ireland was one•fourth of the revenue of that country • and there ought to b e no r i s k o f suc h a sum. wouldHe now proceed to call their lordships' attention to the authorities upon which he based his opposition to the bill. In 1822, the duty upon Irish spirits was 2s. 6d. a gallon, but in that year the Government of Lord Liver pool appointed a commission to consider the whole sub ject, and in 1823 that commission reported that experi ence in the remote parts of Scotland and Ireland proved that it was impolitic to impose a high rate of duty upon spirits. The duty was accordingly reduced, and the effect of that reduction be would show in a very few words. In 1823, when the high duty was in force, it was paid upon 3,300,000 gallons of sprits; but in the year following the reduction, the duty was paid upon 6,690,000 gallons. In the year 1830, Mr. Goulburn re pealed the window duty in Ireland, but added Is. to the spirit duties, and the effect of that measure was to in crease the amount of duty paid, and this circumstance induced Lord Grey to appoint a second commission to inquire into the subject, who reported their concurrence in the opinion that illicit distillation uniformly kept pace with the advance of duty. The duty was accordingly reduced a second time, upon the recommendation of Lord Althorp—no mean authority—and the result of that alteration was a rise in the revenue, not to 10,000,000 of gallons, which the Government anticipated, but to 12,000,000 gallons. From that period the duty went on increasing up to 1840, when his right hon. friend, Sir F. Baring, felt it to be necessary to add 4d. to the duty, and Mr. Goulburn, who had the experience of 1830 be fore his eyes, warned Sir F. Baring of what would be the consequence of mating this addition t 6 the duty. Nevertheless, the 4d. Was. allowed to pass, and so mat ters stood until 1842, when Sir R. Peel, undismayed by the previous evidence, put a further duty of ls. on, but the result of this experim en t was so di sas t rous , that in 1843 Mr. Goulbu rn i n th e one h ouse an d the Duke of Wellington in the other, came down with a proposal for the repeal of the additional duty. So much then for his authorities so far as the revenue was concerned ; and now he would endeavour to point out in two or three words the effect which an increase in the duty invari ably bad upon crime. In 1834, when the high duty was in operation, the number of criminals in all the prisons in Ireland, charged with offences against the excise laws, was between 400 and 500, but in 1842, when the duty was low, the number was only 268. The noble lord having gone into other figures to show that the tendency of increasing the duty was to add o crime, went on to remark that the excuse in the first instance, to which he had referred, for augmenting the duty, was the repeal of the window duty, while in 1842 Sir Robert Peel imposed the increased duty as a jus' la cation for not extending the property tax to Ireland ; but on the present occasion it was just the reverse. Here the Government did not propose to commute one tax for another, but in addition to increasing the duty on spirits they proposed to extend the income tax to Ireland as well. Nor was that all, for it seemed they were to have a succession tax too, and on the whole he must say that, however beneficial the budget might be to England, it certainly would press most unjustly upon lrelaed. Relatively the figures stand thus—the soap and assessed taxes remitted in favour of England amounted to 1,443,0001. ; while the new taxes imposed upon Great Britain, which would consist of an increase in the Scotch spirit duties and the income tax. would amount to 40,0001.—and, therefore, so far as Ireland was concerned, the positive relief would be 1,040,0001. Now compare this with the state of the account so far as it related to Ireland. The only remission in favour of Ireland was 245,0001, of Consolidated Annuities : while, on the other hand, it was proposed to extend the property tax to Ireland and increase the spirit duties, making iu all 658,0001., so that while they repealed taxes in favour of Great Britain amounting to 1,040,0001. they proposed to impose new taxes upon Ireland amount ing to no less than 433,0001., which was a manifest in justice. However, he would not detain their lordships longer upon this subject, but apologising for having trespassed so long upon their patience, he would simply content himself with again protesting against the passing of this bill. The Earl of DERBY could not agree with his noble friend in thinking that his observations were out of place even at that hour of the evening, or in the then thin state of the house, for excepting, perhaps, the latter portion of his noble friend's speech, which referred to the relative amount of taxation to be imposed upon England and Ireland by the budget, and which he thought was not necessary at this time, he was bound to say the remarks of his noble friend were justifiable. These remarks went to show most clearly that the prac tical effect of an increase i n th e duty was a. correspond ing diminution in the revenue, and he entirely concurred with his noble friend that this impolitic addition to the duty would not increase the revenue ; but in the present state of the house, and considering that this bill was one to which the Government attached considerable importance, believing, indeed, that it would increase the revenue by 400,000/., he 'was un willing to do more in oppposition to the measure than ex press his entire concurrence in the views and opinions of his noble friend. (Hear, hear.) He should be sorry to ace a bill which had passed the House of Commons, and to which the Government attached considerable import ance, rejected by so small a number of their lordships ; but he must at the ssme time be permitted to say that it was that consideration alone—for he thought the measure a most mischievous one -- which prevented him, while it no doubt precluded his noble friend from taking the sense of the house with regard to the passing of this bill. He was, however, for the reasons he had stated, disposed to leave the matter in the hands of the Govern ment, believing that like former governments they would eventually find it necessary to retrace their steps when they found, as they certainly would do, the name evil consequences flowing from their measure as lusd in variably attended all similar experiments in this three. ENTRY. Handicap, 20 sovs.—Brawn, Bst 71b ; Mountain Flower, Bst 21b ; Cheddar, 7st 111 b ; Petrel, 7st 51b. Run at 3.15. PAID FORFEIT. July Stakes—Remorse, Ossa, Crosslanes, Glengowrie, Bay Maresfield, c by Touchstone, c by John o' Gaunt, Terrona, Balbac, Bay Celia. Handicap. B.M.—Perfidious, St. Benedict. Handicap. T.Y.C.—Pharold, Petrel. Chesterfield Stakes—Fact, Lapithce, Bird's Nest. CARLISLE—(THIS DAY.) ORDER OF RUNNING. 2.3o—Corby Castle Stakes. 3.3o—Grand Stand Plate. 4.ls—Hunters' Stakes. 5. o—Maiden Plate (Heats). ARRIVALS. Corby Castle Stakes—Garrulity, Bridesmaid, Miss Carlisle. Hunters' Stakes—John Dory, Stockbridge Buck. Grand Stand Plate—Lerrywheut, John Dory, Gipsy Boy, Harker, Agnes Wickfield, Axwell, Friar's-hall, Pit fall, Queen of the Lothians, Helen Faucit, Agnes Gobbo, Ganymede. For other races—Happy Joe, Haricot, Rawsand, Ground Heavy. ENTRY. Maiden Plate—Baron Dozy, The Major, Little Mary, Hannah, Queen of the Lothians, Pitfall, Fairthorn, Solyman, Monkton. WORCESTER-(THIS DAY.) ARRIVALS. Two-year-old Stakes—Balmoral, Emperor, Indiana, Norma, Wave. Run at 2.45. Worcestershire Stakes—Garforth, Le Juif, Kiteflyer, Mayday, Clothworker, Melford, Gladiole, Calot, lanthe, Chance, Octavia, Ibis, Mary Ann, Missive, Tavistock, Allington, Snarry, Deerhound, Patience, Battery, Buckskin, Chaffwax, Tame, Prevention, Lady Flora, St. George, Eliza, Evadne. Run at 3.45. Tradesmans' Handicap—Gaylad, Odiham, Sleeping Partner, Sally. Run at 4.45. For other races—Osbaldeston, Chilton, Liberty. No betting. TATTERSALL'S-MONDAY. The attention of the subscribers, who mustered nume rously in the course of the afternoon, was chiefly occu pied with the Newcastle accounts—the most prominent feature in which was the Northumberland Plate, one of the best betting races the bookmakers have had for some time past, and the result of which was hailed by " the Ring" with the most cordial feelings of satisfaction. The transactions on coming events were for the most part relative to the Goodwood Stakes, for which Sextus and Hobby Horse were backed for a good deal of money . at 10 to 1 each. Crusader (c by Crozier, out of Sum merhill;) and Placid, were also in some demand ; 20 to 1 taken to various small sums about the former, 500 to 25, 1,000 to 60, and finally 2,000 to 90 about the latter. JULY STAKES.—Ruby'snon-appearance at Newmarket was clearly indicated by the investments made on Astolfo at 5 to 2, Calliope 7 to 2, and 3 to 1 (the latter taken to 1001., and Marsyas at 4 to 1. LIVERPOOL Cur.—Goorkah was backed for about 2001. at 4to 1, and 160 to 20 betted against his win ning this event, and West Australian the St. Leger. THE DERBY.-12 to 1 taken to 150 about Autocrat ; 1,000 to 45 and 1,000 to 50, Prince Arthur ; 1,000 to 50 and 1,000 to 40, Woodcote, the latter the current price at the close; 1,000 to 30 to some money about Reel colt ; 2,000 to 50 about Dr. O'Toole ; 30 to 1 Andover, and 50 to 1 the Novice. The prices at the conclusion of business were as fol lows : JULY STAKES (NEWMARKET). 2to 1 agst Astolfo (5 to 2 taken). 3to 1 agst Calliope (taken). 4to 1 agst Marsyas (taken). CHESTERFIELD STAKES. 4to 1 agst Brother to Mountain Deer (taken). LIVERPOOL CUP. 4to 1 agst Goorkah (taken). Bto 1 agst Daniel O'Rourke (taken). 10 to 1 agst Harbinger. 12 to 1 agat Waterfall (taken). GOODWOOD STAKES. 9to 1 agst Sextus (10 to 1 taken freely). 9to 1 agst Little Harry (taken). 10 to 1 agst Hobbyhorse (taken). 12 to 1 agst Teddington. (taken). 20 to 1 agst Crusader (taken). 20 to 1 agat Placid (taken). 20 to 1 agst Vindex (taken). ST. LEGER. 9 to 8 agst West Australian (taken to 501.) Bto 1 agst The Reiver (taken.) Bto 1 agst Sittmgbourne (taken). 12 to 1 agst Cineas (15 to 1 also laid). 20 to 1 agst Honeywood (taken). DERBY. 12 to 1 agst Autocrat (taken). 20 to 1 agst Prance Arthur (taken). 25 to 1 agst Woodcote (taken). 30 to 1 agst Andover (taken). 33 to 1 agst Reel colt (taken). 40 to 1 agst Doctor O'Toole (taken). 50 to 1 agst The Novice (taken). MARKET NEWS-(THIS DAY.) COLONIAL. SUGAR.—The market is very firm, and the auctions aro not large. The quantity of British Plantation landed last week at the East and West India Docks was 2,124 hhds., 210 tierces, 1,649 barrels. There were taken foi home con: sumption 2,032 hhds., 134 tierces, 686 barrels. The Stock in the same places is 10,802 hhds., 1,800 tierces, 4,978 barrels. COFFEE.—This article is quiet at about previous rates. Rum.—The quantity landed last week at the East and West India Docks was 729 puns. There were taken for home consumption 152 puns. 12 hhds., and exported 107 puns. 87 hhds. The stock in the same places is 8,205 puns. 421 hhds. _ _ _ _ RICE.-At auction 4,140 bags Madras, all sold at 9s Gd to 10s 6d for mid and good. SALTPETRE.-1,100 bags Bengal offered by auction, were all taken in at 28s, one lot 28s 6d, for 44 per cent. refrac tion. TALLOW.—P.Y.C., is 53s to 53a 3d per cwt. on the spot, and town 525. Market very firm. TEA.—There is not so much doing, and the deliveries are less considerable than they were. Public sales are announced for to-morrow. HAY MARKETS. SMITHFIELD.—Meadow hay, 3/ 5s to 4/ 5s ; clover ditto, 4/ Os to 5/ 5s ; and straw, 11 8s to 1/ 14s per load. A fair average supply, and a sluggish demand. CUMBERLAND.—Meadow hay, 3/ 5s to 4/ 8s; clover ditto, 4/ Os to 5/ 5s ; and straw, 1/ 8s to 1/ 15s per load. Supply good, and trade rather dull. WHITECHAPEL.—Meadow hay, 3/ 5s to 4/ Gs ; clover ditto, 4/ 5s to 5/ 8s ; and straw, 1/ irs to 1/ 14s per load. Trade rather dull. LLOYD'S SHIPPING.-(THIS DAY.) LONDON, July s.—Wind this day at Noon, SW. ; fine.—A fire broke broke out last evening on board tho Trident (s), just arrived from Leith, and lying at St. Catherine's wharf, by which the vessel was damaged to a serious extent. DEAL, July 5.—(910 a.m., per Elec. Tel.)—Wind, S.W.. by W. Arrived—Hoffman ' Batavia ; American schooner, Mazatlan ; Janet Boyd, St. Vincent ; Medora, Fobago ' • Sharp, Colombo ; Camilla, C a b o ; M ary, N ew Yoak. Arrived from the River—Piedad, for Seville. Sailed—Northumberland, Sydney, N.S.W. ; Atheman, ditto. COWES, July 3.—Wind, W. Arrived—Lady Knight, Havannah. YARMOUTH, July 4.—The Adelphi, of Shields, got ashore on the North Scroby Sand this morning, and re mains. _ _ FALMOUTH, July 3.—Wind, S.W., light airs. Arrived —Seth and Conservatore, Odessa ; Theaon, do. The French brig with which the Korsvegen, from London to Quebec, put in here, was the Parouche, of Nants, from the West Indies, which sank crew saved. CARDIFF, July 4.—An explosion of gas, generated by steam coals, took place this afte rnoon on b oar d the brig independent, of Dunkirk, by which her decks aro much injured and beams broken. SOUTHAMPTON, July 4.—Wind, S.E. Sailed—Bengal, Alexandria. DUMFRIES, July 3.—Arrived—John Wilson, Quebec. QUEENSTOWN, July 3.—Wind, W. Arrived—Gloria, Galatz ; Cali Elpis, Constantinople. CRONSTADT, June 26.—The Monarch got aground on the 22d inst. to the N.E. of Lavenskar, but came off again after throwing a portion of cargo overboard ; the vessel makes no matter, and apparently has sustained no damage. MFLBOURNE, March-E.—The Alecto is ashore near Point Richard (Geelong), and must discharge to lighten. ROYAL ARTILLERY FOR THE CAMP AT CHOBHAM.— It is now arranged that Captain Taylor's troop of Royal Horse Artillery, from Woolwich, will leave there on the 12th inst. to relieve Captain Wood's troop at the camp on the 14th. Captain Shakespear's 9-pounder field battery will leave Chatham so as to arrive at the camp on the 14th, to relieve Captain Richard Black wood Prices's 9 -pounder field battery, and Captain Wodehouse's light 6-pounder field battery; and Captain Papillon's light 6 -pounder field battery will relieve Cap tain Campbell's and Captain Lefroy's similar batteries at the camp on the 14th inst. New harness has been issued for the horses of Captain Wodehouse's and Cap tain Papillon's batteries. EXTRAMURAL INTERMEN T. — Yesterday the committee of the House of Lords, Lord Kinnaird in the chair, threw out the Great Extramural Cemetery Interment Company Bill, previously passed by the House of Commons, and the object of which was to establish a general cemetery t Willesden, for metropolitan interment by railway. PARLIAMENTARY DIVISIONS. HOUSE OF COMMONS.-JULY 4. (From the Votes and Proceedings of the House of Commons.) SUCCESSION DUTY BILL. Clause 33 (In estimating the value of a succession, no allowance shall be made in respect of any incumbrauco thereon, created or incurred by the successor, whether by appointment cr otherwise, not made in execution of a limited power of appointment, but an allowance shall be made in• respect of all other incumbrances, provided that upon any successor becoming entitled to real pro perty, subject to any prior principal charge, an allowance shall be made to lim in respect only of the yearly sums payable by way of interest or otherwise on such charge, as reducing the annual value, pro tanto, of such real property). Amendment proposed, in p. 11, 1. 15, after the word "successor," to insert the words "after the time appointed for the commencement of this act." Question put, " That thosa words be there inserted." The committee divided ; Ayes, 116, Noes 124. MINORITY—AYES 116. Anson, Viscount Floyer, John North, Colonel Arbuthnot, Gen. F.'ench, F. Oakes, J. H.P.I A rchdall, Captain F:eshfiel,i, J. Parke, C. William Aspinall, J. T. Frewcn, C. H. Packington, t•ir J. Bailey, C. Fuller, Augustus E. Primer, Robert Ball, Edward Galway, Viscount Parker, Robert T. Banker, G. Granby, Marquis of Patten, J. BPll:rigton, Viscotnt Halfold, Sir Henry Pennant, Col. Barrow, Wm. H. Hamilton, Geo. A. Percy, J. William Bateson, T. Hanbury, Spencer B Philippe, John Henry Bellew, Captain Harcourt, Col. Phillimore, J. Bennet, Philip Hastie, Archibald Pugh, D. Bentinck, G. P. Hawkins, William Repton, G. W- J. Berkeley, Sir U. Henley, J. W. Sawle, C. B. Graves Booker, T. W. Herbert, Sir Thomas Scott, Francis Bramston. T. W, Hill, Lord Arthur E. Seaham, Lord Bruce, C. L. C. Hotham, Lord S nijth, Sir W. Buck, Lewis W. Hudson, George Smith, M. Tucker Buller, Sir J. Y. Irton, Samuel Smith, Wm. M. Butt, Geo. Medd Johnstone, James Smytb, Roger J. Butt, I. Jolliffe, Sir W. G. H. Somerset, Captain Campbell, Sir Arch. Jones, Capt. Spooner, R. Clive, Robert Kelly, Sir F. Stafford, A. Cobbold, J. C. Kendall, Nicholas Stanhope, James B. Cocks, T. Somers Knatchbull, W. F. Stanley, Lord Codrington, Sir W. Knightley, Rainald Stuart, H. Corry, Henry Lowry Lennox, Lord A. '1 zollope, Sir John Davie, Sir H. Lennox. Lord IL G. Tyler, Sir G. Davies, D. A. S. Liddell, H. G. Vance. J. Dering, Sir E. Lockhai t, W. Vyvyan, Sir R. Disra , li, Benjamin Lytton, Sir E. B. Walpole, S. H. Drummond, Henry Manners, Lord J. Walsh, Sir J. B. Duckworth, Sr' J. Meux, Sir Henry Wellesley, Lord C. Duncombe. W. E. Michell, William Whitmore, Henry Dtinne, Col. Mowbray, J. lirmehouse. E- Egert,n, W. Napier, Joseph Wy.rie, W. Ege :en, E. Neeld, Joseph Elmley, Viscount Newdegate, C. TELLFAS. Evelyn, W. Newport, Viscount Muilings, J. R. Farnham, E. Basil Noel, Bon. G. Malins, Rlchard MAJORITY-NOES 124. Anderson, Sir James Goderich, Viscount Palmerston, Viscount Baines, M 'l'. Goodman, Sir G. Pechell, Sir G. Baring, Sir F. Gower, F. L. Peel, F. Beaumont, W. B. Graham, Sir J. Pellatt, A Bell, James Greene, J. Phillimore, Rob. J. Berkeley, Adm. (Iregson, Samuel Pilkington, Jame Berkeley, 11. Grey, Sir G. Pinney, William Berkeley, Hon. C. F. Harmer, Sir John Pollard-Urquhart, W. Bethel!, Richard Eastle, Alexander Portman, W. Biggs. W illlam Headlam, T. E. F rice, Sir R. Bonham-Carter, John Heard, J. I. Ricardo, 0. Bowyer, George Heneage, G. F. Rice, E. Boyle, C ol. Herb - rt, Sidney RuSsell, F. C. Brand, H. Hervey, Lord A. Seymour, W. D. Brotharton, J. Higgins, George S nith, John Abel Butler, Charles S. Hogg, Sir James W. Smyth, R. Byng, Fin. G. Charles Howard, Lard E. Smollett, A. Cardwell, Non. E. Hutt, William Stafford, Marquis Clay, Sir WI. Jermyn, Earl Wickland, Sir G. Cobbett, John M. Keating, H. S. Strutt, E. Cockburn, Sir A. Kershaw,yames Sulli va n, M. Collier, Robert P. Kingscote, R. N. F. Thompson, George Crease . ..a, E. H. J. 'Laing, S. Thornely, Thomas Crossley, Frank Langston, J. H. Trail!, G. Dalkeith, Earl Layard, A. 11. Vane, Lord H. Deshwood, Sir G. 11. Lee, W. Irillie-s, Hon. C. Der'son, J. E. Lemon, Sir C. Wrlmsley, Sir J. Dent, J. Loveden, P. Wells, W. Duncan, George Lowe, Robert Waitbread, Samuel Dun, F. Mackie. J. Wielham, 11. W. Durlop, A. Marjoribanks, D. Willdason, W. A. Elliot, J. E. Massey, W. N. Wilcox, B. Esmonde, John Mil's, Thomas Williams, William Euston, Earl Milner, W. M. E. w'lson, James F:elden, M. J. bionck, Viscount Winnington, Sir T. Fergus, J. Morris, D. Wise, Ashford Ferguson, Colonel Mostyn, E. M. Wood, Sir C. Ferguson, Joseph Mr 'l,:ave, Earl %T fill, M. Fitzroy, Henry Murphy, F. Stack Forster, J. Not. ey s, Lord TELLEIS. Fox, R. 0 Flaherty, A. (leach, Charles 0,:bo ne, Ralph Ilayter, W. G. Gladstone, William o:wry, Ai :hur John Berkeley, Grenville Clause 44 (Notice of succession to be given to the commis sioners, and a return of the property made. Amendment proposed, in p. 14, 1. 39, to leave out from the word " provided "to the word " and," in p. 15,1.4. Question put, " That the words proposed to be left out stand part of the clause." The committee divided—Ayes, 164; Noes, 139. MAJORITY—AYES, 164. A'Court, C. H. W. Gardner, Richard Mure, Colonel A dair, H. Geacb, Charles Murrough, J. P. Alcock, Thorn= Gibson, T. M. Norreys, Lord Anderson, Sir James Gladstone, William Osborne, Ralph Baines, Matthew T. Goderich, Viscount Otway, A. J. Baring, Sir F. T. Goodman, Sir George Paget, Lord George Bass, Michael Thos. Gower, F. L. Palmer, R. Beaumont, W. B. Graham, Sir James Patten, J. Bell, James GI email, G. Pechell, Sir G, B. Benbow, John Greene, John Peel Frederick Berkeley, Admiral Gregson, Samuel Pellatt, Apsley Bethell, Sir Richard Grey, Sir G. Phillimore, R. J. Biggs, William Hall, Sir Benjamin Phinn, T. Bonham-Carter, J. Harmer, Sir J. Pilkington, J. Bower, G. Basile, Alexander Pollard-Urquhart, W Boyle, Hon. Colonel Basile, Archibald Ponsonby, Hon. A. • Brady, J. Ileadiam, Thomas E. Portman, En. W. Bra id, H. Herbert, Sidney Ricardo, 0. Bright, John Hervey, i.ord Alfred lace, E Brocklehurst, John Heywood, James Sendars, George Brockman, E. D. Reyworth, Lawrence Sawle,:e. B. G. Brotherton. Joseph Higgins G. G. 0. Scholefield, W. Bruce, Lord E. Hogg, Sir James W. Scobe't, Capt?in Butler, Charles S. Howard, Lord E. Seymour, Lord Cardwell, Edward Hutchins, E. Seymour, W. D. Challis, Alderman Johnstone, Sir J. Shelburne, Earl Chambers, Montagu Kershaw, James Sheridan. R. B. Chaplin, W. J. King, P. J. Smith, John B. Clifford, Henry M. Kingscote, R. N. F. Smith, R. V Cockburn, Sir A. Klunaird, A. F. Smollett, Alexander Coffin, W. Laing, Samuel Strutt, Edward Cowan, Charles Langston, Jas. Stuart, Lord Dud ley Cowper, W. Lan:Jon, H. G. Tancred, H. W. Craufurd, E. Lee, W, Thompson, George Crossley, Frank Lemon, Sir C. Thornely, T. Davie, Sir 11. Locke, J. V ^`ers, Rt. Tin. C. Denison, E. Lockhart, A. E. Vivian, J. 11. Denison, J. E. Loveden, P. Vivian, 11. H. Heat, J. Lowe, R. Wslmsley, Sir J. Drumlanrig, Viscount Mackie, John Walter, John Duke, Sir J. Mangles, R. D. Wells, W. Duncan. G. Marjoribanks, D. Whitbread, S. Dundas, F. Marshall, W. Wickham, Henry W. Dunlop, A. Mar tin, John Wilkinson, W. A. Ellice, Rt. Hon. E. Massey, W. N. Wilcox, B. Ellice, E. lid at ly son, Alex. Williams, W. Elliot, John Matheson, Sir J. W.lson, J. Ewart, William Manic, Colonel Winnington, Sir T. Fergus, John Mia 'l, Edward Wise, A. Ferguson, Col. Mills, T. Wood, Sir C. Ferguson, Joseph Milner, W. Wyndham, William b itzwilliam, G. Molesworth, Sir W. Young, Sir John Forster, J. Monck, Lord Fox, R. AI Morris, D. Fox. W. J. Mostyn, E. M. Freestun, Colonel Mulgrave, Earl MINORITY —NOES, 139. Acland, Sir T. Du Pre, C. Napier, Joseph Anneslcy, Earl of Egerton, Edward Neeld, John Aspinall, J. Elmley, Viscount Neeld, Joseph Bailey, Sir 3. Filmer, Sir Edmund Newark, Viscount Bailey, Crawshay 1 loyer, J. Newport, Lord Ball. Edward Follett, B. Spencer North, Colonel Baldcock, E. 11. Forester, Colonel Oakes, J. H. Baring, T. Frewen, C. H. Ossulston, Lord Barrington, Viscount Galway, Viscount Pakington, Sir John Barrow, William H. Graham. Lord M.W. Palmer, It. Bateson, Thomas Greaves, Edward Parker, R. Townley Bennet, Philip Grogan, Edward Percy, J. Bentinck, Lord H. Raiford, sir 11. Phillips, John Henry Bentinck,Geo. P. Halsey, Thomas P. Portal, H. Beresford, William Ilrmilton, 02orge A. Tipton, G. Weir, Colonel Banbury, Hon. C. Robertson, P. F. Boldero, Col. Hawkins, W. W. Scott, F. Booker, Thos. Wm. Henley, Joseph W. Seaham, Lord. Bramston, T. W. Rill, Lord A. E. Sibthorp, Colonel Brooke, Sir A. Hudson, George Smith, W. al Bruce, Cumming Irton, Samuel Smyth, It. J. Buller, Sir J. Jocelyn, Viscount Smith, John G. Burrell, Sir C. M. N. Jolliffe, Sir W. GIL Somerset, Captain Burroughes, Henry is • Jones, Captain Spooner, Richard Butt, G. M. Kelly, Sir F. Stafford, A. Butt, Isaac Kendall, Nicholas Stanhope, J. B. Cairn', ii, M'Calmont Kennedy. Tristram Stanley, Lord Campbell, Sir A. King, J. K . Stunt, H. G. Carnac, Sir J.Rivett Knatchbull, Wm. F. Swift, R Cayley, E. S. Knight, F. W. • Talbot, C. R. M. Christopher, R. Adam Knightley, R. Tollemache, John Christy, S. Lennox, Lord H. G. 'A mane, G. Clive, R. H. Liddell, 11. G. Trollope, Sir J. Cobbold, J. C. Lockhart, W. Tyler, Sir George Cocks, Thomas S. Lovaine, Lord Vance, J. Codi ington, Sir Wm. Lowther, Colonel Vivian, J. E. Compton, Henry Ma ,gregor, James Walcot, Adm. Dasiiwood, Sir G. Maguire, J. Walsh, Sir John B. Davies, D. Mains, Richard Welby, Sir G. Davison, R. Mandeville, Viscount Wilitmore, H. Hering, S Manners. Lord J. Wcdehouse E. Disraeli, Benjamin March, Earl of Wyndham, ' General Duckworth. Sir J. Miles , W. Wynno, Wm. W. E. Duffy, C. G. Michell, W. Dunco nbe, lin. A. Moody, C. Duncombe, W. E. Mowbray, J. Dundas, G. Mundy Willi am Van , 't tart , George II Dunne, Col. Naas, Lord Muliings J. Randolph 1 JULIO. Hayter, Hon. W. Eclteley, Gzenville. TELLERS ELECTION OF ALDERMAN FOR THE WARD OF CASTLE BAYNARD. Mr. Henry Muggeridge was yesterday elected, without opposition, as alderman for the ward of Castle Baynard, in the room of Mr. Samuel Wilson. The proposer of Mr. Muggeridge was Mr. Howell, and the nomination was seconded by Mr. C. Odell. Mr. Muggeridge, in returning thanks, pledged himself to give to the ward any patronage attached to his position, and said he would make it his study to maintain the rights and privileges of his fellow-citizens. ROYAL INSTITUTION.—At the general monthly meet ing, held yesterday, Mr. W. Pole, F.R.S., treasurer, in the chair, Mr. Joseph Hayes and Rear-Admiral J. Roberts Gowan were elected members ; and Mr. John Tyndall, Ph. D., F.R.S., was unanimously elected pro fessor of Natural Philosophy in the Royal Institution. THE CHIEF COMMISSIONERSHU' OF THE INSOLVENT DEBTORS' COURT.—We have reason to believe that the announcement of the resignation by Mr. H. R. Reynolds of the presidency of the Insolvent Debtors' Court is at least premature. That such an event is in contemplation is quite true, and has long been expected by those whose avocations have led them to an attendance in Portugal street ; and from the advanced age of the Chief Commis sioner (80 years), and conseluent infirmity, there can be little doubt that a vacancy will speedily be created. Mr. Reynolds has filled his office since 1818, immediately after the court was constituted. The expected retire ment of that gentleman will create the second vacancy in the court, as that caused by the death of Mr. Com missioner Harris, some five years since, has never been filled up. MURDER AND SUICIDE.--An inquest was held yester day, at the St: Catherine's Wheel, Borouigh, before Mr. Carter, respecting the deaths of Jane P. apson, aged 22, and her infant, aged two months. The bodies of the deceased were found in the Thames, near Southwark bridge, last Thursday. The evidence we at to show that the deceased had been abandoned by th .e father of the child, a man named Metcalfe, and that ;he had been in great distress. A letter was read fro in the deceased woman to Metcalfe, dated from Clothqj air, Smithfield, in which she expressed her intention of committing sui cide, and said her blood would rest oil his head. The jury gave a verdict to the effect that the child was mur dered by the mother, whp at the same time committed suicide, to which she was driven by 'deprivation and poverty. BRITISH RAILWAYS. RAILWAYS. St. 10 St. St. 8i all 100 all all . all all 3 100 100 100 all 3} 1.00 13 Do., New. 'Scottish Midland... • !Do Oswestry ___ (Shropshire .unior. South Devon. South Eastern.. South Wales.... Vale Neath.. A An be ih rti g ee N n o;;;: . l3;i. & East'. June Big. Wolverh. di Stour Valley ...... Birkenhd. Lancsb. dr Cheshire Junet 0. Chesh. di Birk., £5O & £25 Cans Do., £20. .. Bristol & Exeter Caledonian.... Cheater & Holyhead Cork and Bandon.... Cork, Black. & Pass.l üblin&BelfastJunc. Dundee Perth &Aber deen Junction Do. New East Anglian (£25 L & E. & L. & D.) Do., (ZlB E. & H.) Eastern Counties Eastern Union, Class A. late E. U. Sh Do., do. Do., B. & C East Lancashire ... East & West Ina. Dk. & Binning. June Edinburgh & Glasgow Edinb. and Peebles Edinb.Prth. &Dundee Glasgow & S. Western Great Northern Stk Do., A. Stock Do., B. Stock Gt. Sth. &West. (Ire.) Great W estern... Irish Sonth-Easter.[. Lancaster & Carlisle Do Thirds Lancash. &Yorkshire Do., Fifths Do., Wst. Riding Un, Leeds Northern Liv. Crslw.&Soatbpt. London & Blackwall Lond. Tilb. di Sthend. Lond.Bright.&S.Cst. London & N. Western Do. Fifths Do. ,16/.5b.,M&8...0 London & S. Western Do., £5O Do., £40... Lndndrry.&Coleraine Ludndrry. & Ennisk. Manch.Shef.&Lincln. Do., Man. &Lin. UAL Midland Do. Birming. dz Derby Midland G. West.(lr.) Do. Shares Newcastle di Carlisle Newmark et Do. Bury Extensions Newpt.A berg.diMfd. Newry d; Enniskillen Newry Warrenpoint d; Rostrevo. Norfolk.. Northn. Counties Un North British North Devon, N 0.1.. Do., No. 2. De., A A Deferred ... Do., B Guaranteed North Staffordshire.. North Western........ N. & S. Westrn. Oxford Worcester & Wolverhampton..... Scottish Central ... Shrewsbury & Birmg. Do., L. & N. Westn. Guaranteed Stock... Shrewsby. & Herefd. Shrewsby. do Chester (No:. W. Do. Halves, d 0 ....... S. Yorkgb. RiverDunl D 0...... ...... Stockton & Hartlepl. Thames Haven Dock and Railway Waterfd. & Kilkenny Waterford&Limerick West. C0rnw011........ Ilirmbiedo ❑ &Croydob Uoodford ...... Fork Newctl. tSt Berw. Do. Extensions. Do. G.N.E. Purchase York & N. Midland.. PREFERENCE SHARES. 'Aberdeen . Do., No. 2, 7 p. c... Bris. & Ex. 4 p. c. St. Do. 4 p. c. Shares ... Caledonian £10...... Chester & Holyhead Guar. 5i per cent... Cork&Bancl on 5:),. p c. Dundee Perth&Aber deen Junction .. EastA uglian (£3 108) 6 per cent. Do: (1;5) 7 per eent..l Do. (s7l7s) 7 p. et.. Eastern Counties Ex tension, 5 p. c. No.l Do., No. 2......... ... Do., New 6 p. c. St Eastern Union, Scrip Guar. 6 per cent EastLancash. 6 p.cts Edinb.Prth.&Dundee 5i per cent Glasgow & S.Western guar. 5 per cent Great Northr 5 p.c Do. 5 p. c. , Redeem. , at 10 p. c. pram Gt. Sontlin. &Westn (Ireland) Eighths Gt. Westn. (Berks & Hants Ex. 5 p. c.) G. West. fixed 4i p c Lan. & York. F. £2O, Do., 6 p. c., Stock London and,Brighton Guaranteed 5 p. c Do. Pref., 5 p. c. St Do. Convertible, 5 p c., 1852 1 Do: New Guar. 6p.c. London &S.Western, Con. Thirds Londonderry& Coler. Shares_ Coudy. & Ennis. ,Shof., & Lin., Shares, No. 1 Do. Now, £lO Do., £6 . AfatTpt &Carl. 4 p. c. Do. 44 per cent Do .. Mid. Consol. 6 p. c. St. Do. Consol. Bristol di Birm. 6 per cent Do. Pref. 4i per cent Norfolk Extension Do. Guar. 5i per et Do. Way. Val. 5 p c North British North Staffordshire Oxford Worcester di Wolvcrh. £15,6p. c Do Shrews& Birm. 1.. l Shrewsby. & Ches*.er (Nor. W. 3E0,8 p. c. Do. 5 per cent South Devon Do. New S. Eastern (Reading Ann.,) of £1 Os.&1. S .Yorksh.4p.c.Guar. Wa terfd.&Kilk.6p.c. Y olk Newcastle and U erwick 4 p.c.Pref. Do_ & Yore i iiiiiiiii i iii • Purch iii... FOR: Bel g ntwe i a r p&ROtterd am astn. June. Beziers to Oraissessac Charleroi (SE Erqueliu. Dijon and Besaugon.. Dutch Rhenish • ...... East Indian.. Do. Extension: **** Gt. Indian Penin ****** Gd. Junet. of Fr anc : Gt.WesternofCanada Shares Lucca At Pistoja 5 p.c, pref. Luxembourg Do. (Railway) • Do. Do. (Canal) Do. 6 p. et. pref Lyons & Mediterran !(adras Namur dr Liege in.er est) 'Do. (ex interest) Northern of Fruce Do. 201. 3 p. c Eds (fmy.B.&Ams.Shs.; NorwegianTrunkprel Paris and Lyons Paris and Orleans , Paris and Rouer Paris and Stras')On ''' ParisCaen & Cherbrg. Quebec & R'clrnond Rouen and Havre,,. Royal Swedish Sai - übre and Meuse Sth-Fasten. of France Southern of France Upper India Scrip._ West Flanders,.., Do. 5A per e. 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