The Express.
London, England, 1851-07-12 00:00:00

I LAW INTELLIGENCE
THIS DAY.

EQUITY COURT.
BUM VICIZRAPICTLGOII ibIIONT Bit Ct.
A CLUB ORDERED TO BE WOUND UP

UNDER THE WINDING-UP ACT.
RE ST. JAMES'S CLUB Ni PARTE DE BUTTS.

Mr. Malin and Mr. Tonhnin supported a petition pre-
sented by Lieutenant-General Sir Augustus de Butts and
17 other members of the St. James's Club, including the
Earl of Cardigan, praying that the club might be wound
up under the Winding-up Act. According to the
petition, as verified by the usual affidavit, the club
was formed on the 13th of November, 1848, and a
prospectus was issued, stati • that the persons eligible
were: tat, Princes of the b 1... royal ; 2nd, Lords and de-
nutv-lieutenants of counties; 3rd, Officers on full and
half-pay; 4th, Officers in the militia and yeomanry;
sth, Officers in the East India Company's military'.
service; and 6th, Retired officers; and that the cuisine,
wines, and agr,:ntens would be established and re-
posed in the charge of the first artistes, on a most
liberal scale, with at the same time a due
regard to; economy. The club was after some time
removed to, and held at, 53, St. James's-street, the house
formerly used for Crockford's club. Tho petition also stated
that the club not having been able to raise more than 9001.
upon debentures, in pursuance of a resolution for
that purpose, applied to Messrs. Berries, Farquhar,
and Co., for a loan of .5,0001., which was obtained on
the joint and several promissory notes of the committee ; and
that this proceeding was brought under the notice of a
special meeting of the club, called fur the purpose of pro-
viding for its liabilities; and that at such meeting resolu-
tions were passed that each member should pay down COL,
or 101. per annum until that sum should be paid off. The
club had been dissolved, and the proposed contributions
not having been made, the present petition wSi presented,
Mr. Bacon and Mr. Burden, for ono of the members of
the club, opposed the petition, and contended that the as-
sociation was not ono wit,,fri the meaning of the Winding-
up Act, and that, if it was, still it was not expedient to make
the order, as the members of the club could not be placed
generally on the list of contributories, and it would be requi-
site to make every distinct liability the subject of a separate
investigation, audio ascertain what members had personally
contracted it or authorised any one else to contract it on
their behalf, a reason which Lord Crenworth considered
sufficient for declining to make a winding-up order in macs
so circumstanced. They referred to "Ex parte James, re
Narborough and Watlington Railway Company" (1 Simons.
New Series, 110) ; Ilesley's case; "Fleming r. Ilector " (2
Meeson and Wilsby, 172); "Todd e. Emly" (7 Mecson
and Washy, 427 ; and 8 ibid, 505).
The Vice-Chancellor said that ho thought this was an'
association within the meaning of the acts of 1848 and 1849,
and within one or both of the 7th and Bth classes of casts
mentioned in the former of these acts, and that therefore
the order must be made. Much argument had been used
reasonably enough on the subject of the liability or absence
of liability of the members of the club to the debts incurred.
Those would be arguments more proper to be addressed to
the Master, upon whom the duty of ascertaining that liabi-
lity would devolve. It might be that none of the members
would be liable. That was not a point for the Court now
to decide. But his Honour was clearly of opinion that this
was an association liable to be wound up under these acts
of parliament. The order must therefore be made as sought
by the petition.

MONEY MARKET.

THIS DAT.

Two o'CLocK.

The English stock market opened with a flatter
appearance to-day, at a decline of 1, but more confi-
dence has since become apparent although business
has been upon a quiet stale, and the purchases of
the government broker are not carried on as usual,
this not being a public transfer day •, prices have
now returned to the improved range at which they left
off yesterday. Some uneasiness was expressed at
the chock which has been given to the im-
proved movement of the bullion, as shown
in last night's Bank returns, notwithstanding the
continued large imports, but the decrease is ex-
plained in a perfectly satisfactory manner by the
payment of the public dividends to the bankers, the
payment of government salaries, &c., and is usual at
this period.
Consols opened 96 to 97 cx div., and arc now
quoted 97 to 1. The official report of business em-
braces: Three per Cent. Consols, 961, 97,1 96: ; ditto
for account, 97, k ; Three per Cent. Reduced, 971;
Three-and-a-Quarter per Cents., 981, 99,1.
The unfunded securities maintain their recent im-
provement. Exchequer Bills, 1,0001., mark 51s.
prem.; ditto smaller sizes, 545. and 51s. India Bonds,
large and small, 625. prem.
The foreign stock market has been rather more
active than of late, Mexican and Peruvian Deferred,
amongst others, attracting some attention.
Mexican Bonds are now rather better than
they left off yesterday, being last marked
132,4. In Peruvian Deferred a considerable advance
has taken place, and the price has been run up to
44. Brazilian Bonds are rather firmer than before
the receipt of the advises by the Tay, while Buenos
Ayres Bonds are flatter, the position of Itosas
being considered decidedly critical. Sardinian
Scrip is much more in favour to-day, and
have been taken as high as ¢ ills. The follow-
ing is a list of to-day's bargains:—Brazilian Old
Five per Cents., 89; ; ditto small, 891. Buenos Ayres
Six per Cents., 551. Danish Five per Cents., 1031.
Dutch Two-and-a-Half per Cents., 391; ditto Four
per Cents. Certificates, 921. Equador Bonds, 31.
Mexican Bonds, for account, 16th inst., 321,1, Pe-
ruvian Deferred, 431, 44. Portuguese Five per Cent.
Converted, 1841, 35. Itinisian I.ow-end-a-Half per
Cents., 1001, ex div. Sardinian Scrip, I, Of, 0,1 die
Spanish Active Five per Cents, 201 ; ditto for
account, 201.
ENGLISH FUNDP.—Tnie Der.
Rank Stock, 214 15 Loon a onuilie4. 7 7 15
3 per CI. Reduced. I 7! lids Stoma,phut
3 Per et. Mewl.. 57 Ditto fiords.toe. to 63.
31 per Ct. Conouls.VB Eackequer 1.0v21.314. to 34a.
Cocoas for Acct.
FOREIGN FUNDS.
44 per CLlsWian. PI 4 S per Ct. Meticen. 3:4 I
C.C7LieerTlitlim." 4fertt.l'lieZXli!'4.lll)'
per Ct Buenos Arm, DST S per CL Portugu,-. &5 T az
6 per Ct. Cbiliest 1034 44 5 per CL 11214
3 par CL 44 per Ct. itippon, PM 4 01 ctly
3 per Ct. Noire. 74 7 5 per CL ".panign, active. 20 I
41 Per Ct. Dutch. 59) die 3 per /X. 354
4 per C.. Dutch, 014 35 Do. Fromm 54 6
Equador. 3i i 2f er lit..ll7nnerlll.3 32 4
I per Ct. Grenada, 1617
&Minim Scrip. 1 i .
LATEST FOREIGN EXCHANGES.

I Poe Acoaant.
PARIS, JILT 11. 14".
I
Moneg. 'opening Higbee 1 Lowest Cloning.
per Cents. ,l - -
36 20 I 14 20 3d 21 24 10 55 25
per errata.
per (Vats.
...
a do. New Loan
.
per Onto.
Exchange on London: at eight, 15; 90 day+, 24225.

Spar Outs. 156 20
3 per aw1..
4 per ants.
44 do. New Loan I
3par ants.
Exchange on London :it might, 35 ;90 Jaye, 24 'll
Dr, 5, 1440
5, 1642 — ... Roman Loan, 1451 73
De. 4;
Do. 34 ....... . ... Treasury Bonds — ..
Pisiblass I p.a. 11149 63 60 .. I Bank shares
PADUA, JULY 11.—St. Germain, 438 75 ; Versailles (right
but). NI OS; Ditto (lett bank), 233 75; Parts and Orleans, 60;
lAdi NMI Ilawso, 1.31 50; Rouen and Havre, VA ; Marseilles
Mill MIMI" 304; Strasbourg and SMIP, 133 50; Boulogne and
Mawr" IN U; Orleans and Bordsanz, 196 23; Northern, 467 30;
Pads and Stnasbarg 471 23; Tours and Nunn" 270 23; Borden=
gad Dote, 32 50; Dieppe and FOCOMII, 303 73.