The Express.
London, England, 1860-07-19 00:00:00

IMPERIAL PAUWBNT.

HOCSE OF COMMONS.—(THIS DAT.)
The !Kush took the chair at 12 o'clock, bat it wow
scd half an boar before biome.s could be proceeded with,
se forty inenihert were not prtvid.
The Lori.' 4111011.1111,111/ to the Brolford, Wakefield, and
Lode Rada ay Bill. the Crest Northern and Motropditan
Jastetwo, the Land Loan and Improvemeut Company Bill,
awl the Scottish Drainage Coemputy Bill. were weed to.
The Monklaad Railway@ Bill was reel • second time.
LA N 01.1.41 D AND TENANT (IRELAND) BILL.
The 'epee went into committee on this hill.
Mr NI•11 AHON oppineti the bill, which he mid wee or
satin lc for the beadit of the landlord ad spirt the
tenant in IrelaolL It we. substantial:l7 the name as the
bill ,1 IsAt ; hut as it coatained Doi clauses, and reloaded
b 7 mt. of parhament, 110111•1 going aa far back se
Edwanl IV., It ought to have been properly ex-
plain..l. Its effect would he to make the mistime of latidlord
and t• mint quite different in helms, from what it was in
the law now stool. a lazellord and tenaat
could rotor into a emend by percale fur a ken fur three
Wilrn. There was an harm in but, and no evil comequeoces
Lel resulted from it, in either enquiry. Bat it was now
propoed that henceforth every contract or lime. of
keel.. not hem; from year to year, or for a less period,
should be in Irriliag. the tenant might have laid Ind his
money under each • once-met, and the landlord might some
open him, sal my that, sot being is writing, the contract
was v"ul Asother objectinaable clause was that which
forbad.• the tomtit to cut &we, hp, or crop nay tree or
wood. water a gesalty al for every bash. He
mould aot oven prune hm gooseberry bushel or grub up a
tam-. or eat weenier branch foe say purpose, as the land
be ....mind lasted of this. the tenant should be en-
couraged to pleat trees, which were too scams M
Ireland. Mother objectinnahle clean was that by
which, wherever is existing know the mien had
been reserved, the laadlord ninths go is and week them
In any way he chow. Clause AI, relative to wade, was
even mew,. intolerable. By that dame, if the lead.
iced went before a magistrate, and allowed that
be hid reason to believe the teased was intend.
lag to Collllliii say unlawful waste, injury, or
destruction, the magistrate might issue his warrant forbid.
ding sail act, and if that were not ,itteieled to commit the
beeone, his eiders and abettors. to pried) for three months.
This did not relate to future tenamite, but tomato already
el may seer.' standing might le thus dealt with. With
reepir.l to ejectment also the bill was most unjust to the
knout Theo were but a few of the grievances
aseate,l hy this ball, which oat mllesl a coasolidataxi bill.
Be thought the landlord and tenant bill proposed
by Mr. W bitande on the whole a much better one. He
auto! Ow government would let the Irish termite atom,
or if they must Oceanic for them, give them the law of
Regtiol He Overdue* move.' that the chairman should at
ewe I-eve the chair.

Mr. WHITESIDEoppoonI the bill on the ground that it
tine •ot likely to prove • estisfactory settlement of the
queetios.

[Left sitting.]

LONODY JOINT :frock. 1A911:-(THIS DIY.)
TIM. afternoon the half-yearly meeting of the
sharehoblers of this company mix held Sbe Boordnissin
of the Hoak, Presernstreet, Mansion.house Sir JAYS'
Late pressing. nu report was read by the Secretary
lA. G. Iin2NILOT) as follows:
" It will be earn from the accommayirg amounta, which
show the pintos of the hank on the Stith alt., drat the set
pont seed during the preceding six months amounts to
1111,0 W. 13.. 9.1.. of which 37,.-.04. is appropriated to the
usual dies.l.md at the este of I'l. per cent., and the balance,
21,:5t44 13a. 9.1. carried to profit and bus new account.
The directors regret to oil that the curtest balf.year hoe
ensuumes.l with the prospect of • oisaidarable low os bills
dew mated, is con....pieme .4 the recent failures in the
leather leole. The extent .4 it cannot he aocurately esti.
aria.., at preset, in the *lenience of authentic itiforustion
wepecting the meets .4 the ecrcral ineolyeat houato but
ea •01 the seem/eery •tateruerita are produced,
mach scussurra will be adopted in raids as
ea the interest of the hank may require ; and
Is the nonntinie there is 'Mb. to Ifflelic.e that the ultimate
to.. will not eared 40,0e0. The guarantee fund, having
barn aerated with 2!,'-'304 for depreciatios mime the 31e
Deecliber, in the value of government awl Indian is.
.entire held by the beak, an.l credited with 3,4401 Ile.
for on month. isterrat, sow amounts to 211,511011 fe 11d.
The .bwidexd, free from inerane.taa, will he poirshle
and after Frahiy, the Vtli iist.snt. The Isampaied illiathdin
110!..ini I rrineny (Niro leg., am of the teuxibis of the
busk, wises talseestief exertiese I. pronsote id
welfare on all owns ss were highly appreciated
by ho ...Menem, having caused a iniosscy at
gm hen', m extraordinary general meeting will he bell
118 Thurater, the 15th .4 oi:toner nest, to dell • director
bt hi. place. The director. have, is accouters with the
wishes .4 their unich-rateeio...l friend, Hr. Pellard, rehires,'
lase fume the lauriese.lutw. ot the nmespiessit, which he
he. faithfully sad ably discharged d the whole
period .4 the hask's existence, and they haveewing awarded
to bin • retiring allowance .4 tone,. per annum, aa
• j• .t re...1'11.4t0n of hi. valuable services is tbe
Inap.itant .At. bold by bin. NA many yews. The
dire. h.,. feel 'mural that the ahareboldwe will
tiothell . approve of thus arrangement, awl also gladly avail
Sherusfres .4 the opportunit of retaisiag fur the bask the
benent .4 then late imager's knowlolge and experieuce
by electing him to the recant .rat in the direction, for
whi. hbe ha. annousrad himself a candidate. Mr. Fleming
Hewitt. late sub-msexper, who pussies the entire couti•
.14 -•• of the leant, having servo., the hank is various de.
partnestits upwaola .4 21 year* with real awl intelligence, is
au. ',harped with the general massacernent.
and amem, Onunlay. 4use 30, 1300.-
Dr To capital paid up, 6:kilo) sham at 101. each,
60. ; to amount doe by the bask, 9,811,3013.
; to amount of the guarantee fuel, 31.1
lb . '2,..)..16111. ; to sit meths' interest
on dot,. at .11. per rent per annum. 3,440/. I Is. ;
te.vrther. Irv,mtsti. 5.. 1 Id. ; Is.. de-reise once the value.
ti.n.eu Deoember. 10.1:', in tbe market valne of
11,..,13111f.DS and East 10,14111 securities held by the Rank,
21,21 M. •111.31101. 9e 1 Id. ; to amount carried to profit and
araount, 106,4471. lii. 2d. total, 10,744,5141. 10a. tkl.
Cr.. By Exchupser Bills, lode debentures, and 'scram.
wont noels. 1,016,390 f. 2s. 11.1. ; by rush, luaus, and bias
discounted, '..,Orts,.t/04. 7s. 101. ; by building, fumigate, he..
hiscra street, te2,37rd. ; by ditto, ditto. M
7.1.r.d4 ; tog,ther, ; total, 10,714,514/. 10s. Pd.
" Profit awl ken soonest. Ur.: To current expenwa.
proportion .4 Waditing expenses. directon' remun”ratiou,
1e.1.1.14., income tax, lee., =IOW. 13s. 9d. ; to al..•ipt
earned to profit and los, new account, being no
bate of intoned an hills illeyountial not yet due.
; 4. livi.:en.l account for the pay.
meat .4 half a year's dividen.l, at the rate of 12j
per ....taunt per annum, upon exskisti9., amount
cc..fcd.up
capital upon woo Aare., 27,51.111,. ; to awiteint rrfar.
ward to point and In,. new account, 24.5344 13s 941.; total,
101,147/. 12s. 3.1 Cr.-lie lubsece brought down, 106,4471.
: total, 106,4471. I?..
The ellAlll.ll/111. moving that the report be adopted,
mid that it medal eat have bee:i necessary for him to do
than c'ePutsdate the shareholder. upon the continued
prop... and sty A this bank, if it had not been that
the iltrectors In report a rery revere LAY through the
(adore. is the leather tnelo. Rut that arose ant from
har,o4 taken up any new yoncern, but from the
failtire of Messrs. Stremtfeilil, one .4 the am.: lent
of the bank, fool on, that had brought valuable
coun..xiou. to them. The nini Lid enjoyed the ounlidence
of the env of London, and no ordinary prudence could
hair vailD•il the liee that the lank hail
aufferol by their failure. The Lite manager did not
think that the amount of the would exceed 30.0 t V.
but not irieh that the actual alno.uot should
eareeil the retinetc, std the s le, I therefore calculated upon
110.00/._

Mr. BORRAI,IILE arke.l whether Men.rt. Ytre•tfeill kept
• banking a only s discount nereont
Mr. I) ir, mod they kept 4 41 1,1111 working seronnt.
Althoti.;h the l.nnk discounted •ry I r ely for theni. there
VW in p. 11 of fact a current revouut, end in pr..ot he
etete•l thrt the lank now held between 2.0001. and 3,0014
lo their ereeht.

Mr. Ikon tome thought the direeton had not acted
prudentls in a/tarring to the firm when it was
known that they bad received a much higher accommoday
bon from a larger bunk. or in dealing so freely with a con-
certi the porton in which were busing estates while they
were carryius iin their India,: °pyridine..
Mr. rrtrrt and Mr. A snitor. None defended the Iran!,
'tatter that the course this bail pursued in thia LINO had
tie uniform practice throughout the Z 1 years oof
the etou neo .4 the hank, awl its wisdom waa ;rowed by
Ilie Li ilsit the lad debt* during that period would nut
anyobit to a differeDire of I per cont. in the divides4l that
thY froprietors had 'revises!.
m-vrral ropirktun expressed the fullest confidence in the
/cert.

lb reprrt WAS then whpted,..nd a vote of thanks was as-
I a. the eLurnt-,a •nd diracturs, as tM motion of Mr.

•
•11... Lr r•ztzeet h.a% in./ bees paid to the late
train.;. T. Mr. I the imetia3 separated.

It: LPr NI4IIIIIIIINT —A return w:ui published
th.• ~...enin4 .4 an ma.. is which e,wporol puniebteent hat
4.n oalect..l fa pole dueler; the last three yearn The
ee• Lee ae (Whore - Ledford, 2 ; Berko, 5; Backs,
, 4*.ashel.l4e, 1; Chester, 44; Cornwall, 13; Derby,
:.. Devoe, II ; Dorset. 3 : Durham. 4 ; Lei.
4 • 4.l...are.ter, 4 ; 11.-n4.44. 1; Hatter:l, 20 ;
h• .2, .21; Lahelizt of. 190 ; Leire,ter, 124 ; Lineele,
1' . Nleilkee", 51 ; Norfoli, 10; Northampton, 3;
s,rtLut.:lnelead, 91.1; Neltirr;lsain,
KO 24m:1e:set, ; M.nthmol4.4, 2; Statlmel, ;
/sof Sorree,;;24;sees, ll;Warsiek, 4: Weetnwerh.nd,
2 . Wilt.. 4 ; W•wee4er, 5; York, 13. The "sly return.
le en WA. ere 10 awns at Dam ai4h. lathe "empty pneon
1.4 t;` laalma airy indicted .41 otw prisoner and 171
es a....ther. 4ii Wee' UNTO indebed on ama :J years
age

I heriotAL thrcter. Cos mtp).
t.. Irie kir wetk eiaLri J4:y 15, LOU% Ile.

LAW INTELLIGENCE.

(THIS DAY.)

ROUSE OF LORDS.
RUMS v. LIA—INFORTANT JUDOS'S= as AITIVIRSO
11.1•1111Taaa ILlfteallta GRAMME SCHOOL.'
The Lard Chessellor took his soak at m guider to SiSVON,
en the manhole for the Purposed delivering judgeseet is
the shore ass mad hearing appeals ; the lards mesa were
Owswerth. Wensleydale, and Chehmeford.
Their Lordships bides divided in their opinions delivered
their Inegammes at length seriatim.
The ere, whisk is on. of considerable importance, he.
be frequently reported, the question being the solmissi-
Why of dimeneen in trustees on the foundation of • school
for the ednestion of children &wording to the ruleof the
Church of Embed The origival founder, 150 yews ago,
by deed toswied amelsol at I imiamter, for tbe wpm of the
alscafee et the fillies of the inhabitants is the religion
of the chart& el teskad, mad appoiated tweedy himetess
and their simeemess, Se net the intends= et the
founder they helm ohs mewhars of the ehersh et lashed,
they haAr‘ power to appall* s schoolmaster who per
maned the sense petneiglek and remove him when New
sary; the wergius hoed the estate ewe tar the lead&
et the wheel miter ter the wiry d the who&
wester, he esdismee, the sedlibry expowee et the
school, shomild assespisled to the ass otru=r the
highways of the teem el asleeter. time two
thirds ef the teheldterinbeenne diameters, • Nee thee
to thee dissideee awe sleeted bastes. On the het
eeewhs thew sientiewse—dineenters— were f
appoin~ted.
the er the Indian bring members of
the MIZI flogleee ; the result was that
the Mew esatested Ow right of such election
sad Med their kin is Chaseary for their removal. The
pasha el the Sal s. beimes whom the case was heard,
wee et opiates mad so &semi that the inhabitant.
having sa Wend I. the serplas tends of the charity,
had a right to does trades' to at those who were
members of the church of expending funds in
which diseentme ware equally isterested Against that
derbies am weal was mode to the Lord. Jus-
tices Haight Bross and Tenter, who revened the
judgment of the Neater of the Rolls, and removed
the three trustees, who were dissenter,, their lordships
ruling that the foundation of the whim! 'me purely for the
education of children on the principles of the Church of
England, and that by the deed the trustees must be mem-
bers of that church.

Lord Oimpbell TOO L• 074 Chancellor) and Lord Celia.
worth speed with the decision of the Master of the Roils,
that dimension night be appointed trustees, they having as
island is the w
Lords Wens and ettelmetord were of a contrary
opinion, and that the &risks of the Lords Justine's*e
right in reversing the denim of the Paster of the Rolls;
the feendatioe wee mbrktlylry the deed confined to trustees
who should he uneshers of the Church of England.
me Lard Clasmiler said as their lordships were equally
divided is their opinion, the appeal must be dismissed, and
the jtaudgment of the Lords Justices affirmed, but withogt
cos.

EQUITY COURT.
(Before Vice-Chancellor Sir R. T. Kiedersley.)
TAWCITT r. LAMM AND OTHER* -THE UNION BANE.

Yr. Glare and Yr. Batas morel, ors the part of the
plaintiff, who with MIS. Ann Fawcett a co-trustee of 110
thane, Yrs. Ann Fawcett's name landing first is the place
of her late husband In the lid of shareholder, for 110 sh►res,
to restrain the defendants, Sir J. Laurie, James Fat-
unbar, and other., directors of the Union Bank of London,
from making, declaring, or paying any dividend to the
shareholders of the bank, except out of the preale or wa-
pitis feud of the mid bank, end from paying a dividend cis
the 90th of July, and from debiting, charging, or encum-
bering the capital with 720,0 M/ , or any other sum
etherwie than the roe Irma liable to the debts of
the beak. The bill alleged that, in 1654, the
dirselsn propeeed to add to • nerved fund already
fizemed. by iasni•g at a premium of 51. • share two shares
la respect of every lee ahem. held by shareholder, who
sham to tad advantage of ens► an arrangement, and thus
to mina the paid up capital to 600,0001., and to add 84,0001.
to the reserved fond. This proposition was agreed to by
the shareholders, and the capital was then stated at
4000,000 f. in 60,000 s►ares of 501. each, 101. per share
lksiag paid up. The mamba, of new shame takes by the
shareholders wee 16,916. and the company received in re-
spect of them 84,560 f., and ef these shares the plaintiff and
Mn. Fawcett took forty-four. In July, 10459, • dividead
sad bonus were declared in addition to capitalising 120,000/.
of the reserved pro** by appropriating 20 per cent.,
or 21. each of 60,000 sham of the company. The
bill went on to allege that in April, 1800, it was dis-
covered that owing to the wilful neglect and default
of t►e directors, George Pulliam had bees enabled to ens.
alit • fraud on the company by abetractim a portion of the
funds of the company in the Bank of England to his own
use, whereby the balance standing in the Bank of England
in the names of the directors was 306,616/. 7s. 411. instead
of MAUS/. 10a 2d., being '.9A125/. 6e. 10d. lees than there
ought to have been ; and as only 11,1161. 14.. 10d. had been
recovered from PoUinger, the result was that there was a
clear loss of 252,08 W. 12a. The bill went on to allege that
the directors, in order to escape payment of such loss, and
to prevent inmetigatioe, determined to continue the
permed of the dividends half-yearly, and to apply
the paid-up capital to the payment of such divi-
dend, and on the 34th of April they made • report pro-
posing to meet the defalcations by a retransfer of the
110,0001. from the capital account, which had been trans.
fermi to it from the reserved fund in Ju1y,1859, and byappro.
printing a further sum of 100,000 C, the tutting reserved
fund, the balance of 40,0001. being paid out of accruing
prods. On the 4th of July they issued a further report, in
which they saki, "In accordance with the report of the
24th of April last the directors have appropriated towards
meeting these frauds the marred fund, which ha realised
100,8611. lac 10d., and they now pfopollo to redelit capital
account with the amount carried last year to the credit of
the amount from reserved fund, 1.0,0001. Tho balance to
be paid out of the profits of the year is 31,156/. 16a. Id.'
The report of the directors was confirmed at a meeting held
ea the 11th inst., but the plaintiff was not present, the
directors saying he had no right. Plaintiff submitted that
the director, were persoually liable to make good the lons
sustained, and prayed the injunction upon the payment of
dividends, or that the company might be wound up if pectin.

Mr. Daniel and Mr. Amlerton, who appeared for the
company in opposition to the motion, contended that the
plaintiff had no right to sue, for Mrs. Fawcett, his co-
trustee, did not join him in his application, but opposed IL
But if he ha.l a right be bad lost it by his ladies in not
coming before. They denied that he was not admitted to
the meeting. The dire ton had given instructions for his
admission, but he Ilid not attend. They contended, more-
over, that under the deed of settlement the directors had a
right to do u they hail done, and that it was competent for
the general meeting of shareholders to re-transfer the
120,000/, from cipiLd.

Mr. Curti appeared for Mrs. Fawcett in opposition to the
motion.

The Vier-l'hancellor said he need not now enter into the
question as to whether the plaintiff hail a locus stand'', or
whether the dim-tors had a right to re-transfer from the
capital account the sum of or whether it was cons-
peteut fur the general meeting of shareholders to give their
authority to do so. Upon neither of these grounds
should be decide this motion, but he should decide it on the
vestals given by Lord Cottenham, in dissolving the injunc-
tion granted by the Master of the Rolls in t 'arliale's owe. In
thatcamean act of parliament bad been posed transferringto
thellonth•Eastern Railwayesenpany the power to make cer-
tain branch railways, and there was a provision that if they
did not make the railways within thee,, years they should
not be competent to declare any dividend on the general
shares of the company. The railways were not finished
within the time fixed, but, notwithatioding that, the com-
pany declared dividends in two separate half-years after the
espinetunt of the time. Mr. Carlisle moved for an
injunction. professedly on behalf of himself and
the other •liareholdera, to restrain payment of the
dividend. Lord Cottenham mitt he hail no hesita-
tion ie giving an injunction to restrain future declare-
tioos d dividends, but as the dividend had been declared
the position of the parties was this—that a rigid had
been conferred on the shareholders to demand payment of
the dividend, awl each individual shareholder could bring
hie action naiad the directors to enforce payment of his
draidcod. And be said that be could not, in the alsence of
' the other shareholders, stop payment of the dividend
declared, though he would grant an injunction
to stop the declaration of future dividends. It ap-
peared to him that he could nut grant the in-
junction asked in this case so far as related to the
paynessat of the dividend which had bees declared. With
regard to that part of the prayer which asked that no future
dividends should be paid except oat of the surplus profits,
it was not necessary foe the protection of the plaintiff that
be should determine that onatioa now. The real anhetenee
of the application was to retrain th • payment of the
dividend which had been declares!. ffe had given hie
ilseinon as to that, hat he maid not damn an opinion ow
the other port the motion without going into the merits
of the case generally, which it era. not now necessary to do.