The Express.
London, England, 1867-07-22 00:00:00

THE EXPRESS, MONDAY EVENING, JULY 22, 1867.

ever, that it rarkly happens that a bank experi-
ences any lona on this account, as care is invariably
taken to be amply covered :

1867.
London and Westminster r754,250
Union
London Joint Stock, about 3,860,000
Alliance 222,521
City 1,777,529
Imperial 90,863

Total.

014,077,567

Against securities valued at 10,114,0001.

These amounts are occasionally large, especially
the Union, which figures for more than half the
total, but, as previously observed, we may safely
assume that only under very exceptional circum-
stances can any liability accrue under this head.
There may be temporary inconvenience, as we
believe occurred more than once during the late
crisis, but no ultimate loss. Setting aside, there-
fore, these obligations, and looking only to the
deposits and current accounts of the public, it may
be of interest to compare the cash and government
securities hold by each bank with the total actually
owed. The amounts and per centages are as
under : .
Cash and Per ceutage on
oev. securities. sums due.
London and Westminster... £6,370,796
Union 5,301,103
Landon Joint Stock
Alliance
elt7
Imperial

This comparison, however, fails to set forth the
entire truth, since, notwithstanding past ex-
perience, most of the banks continue to lend
money at call to the discount brokers, and to
reckon it as so much money in hand. In one
instance it is shown that the sum thus employed is
fully equal to the amounts actually held by the
bank in their own till and at their credit with the
Bank of England. It seems aimed incredible
that the lessons taught by the events of the last
summer should be thus entirely thrown away.
There is no reason whatever why a banker should
not lend his money to a bill broker if he sees
that it is to his advantage. Indeed a highly
profitable business has been thus carried on
for years. But the banker has no right to reckon
upon money thus lent as the same thing as money
in hand. The proper head under which it should
appear would be " Bills discounted, loans, &c.'
The present plan only serves to inspire a false
security.

Aa regards profits, the banks have probably
cleared as much this half-year, with money at
about 3 per cent., as they did a year ago when it
was at ten. The dividends, however, are some-
what lower, owing chiefly to losses having been
now written off which properly belonged to 1866.
The prospect is not discouraging. Even the
lowest return shown is equal, at the present price
of the shares, to more than 5 per cent., without
reckoning the probability of a future increase.
Annexed is a comparison of the rates paid this
year and the last :

1886. 1867.
Per cent. per Per cent. per

London and Westminster . 28 ... 28
Union 25 ... 25
London Joint Stock 2O ... 16 2-3
dllianoe
City l2 ... 10
Imperial 8 ... 6

Eta Court.

OSBORNE, JULY 20.

The Queen, accompanied by Princess Louise and
Princess Leiningen, drove out in a carriage-and-four yes-
terday afternoon.
Colonel the Hon. A. Hanlinge attended on horseback.
}teen( I'achs, general and first aide-de-camp to the
Sultan, arrived at Osborne yesterday, accompanied by
Major Teesdale, V.C., and invested Prince Arthur and
Prince Leopold with the Imperial Order of Osmanli, by the
Sultan's command.
Reonf Pacha had the honour of an interview with her
Majesty. _

-
Jui.v 21.
Prince and Princess Louis of Hesse returned to Osborne
yesterday from London.
Divine service was performed this morning by the 11ev.
H. Duckworth before her Majesty, Princess Louis of Hesse,
Princess Louise, Prince Arthur, Prince Leopold, and
Princess Beatrice.

MARLBOROUGH-HOUSE, JULY 20.

The Prince of Wales, attended by Genera Sir William
Knollys, Colonel Kingsoote, and Captain Ellis, went to
Wimbledon, and was present at the volunteer review, and
afterwards was present at the dinner given by the Earl and
Countess Spencer to the Sultan.

ULY 21.
The Prince of Wales attended Divine service at the
Chapel Royal, St. James's.
The Communion service was read by the Rev. J. V.
Povah, the Rev. Thomas Delmore, and the Rev. H.Melvill.
Anthem, " Call to remembrance," Batteshill.
Sung by Masters Carmichael and Wood, Messrs. R.
liarnby, Francis, Smith, Cummings, Whitehouse, and
Winn.

Mr. Cooper presided at the organ.
The sermon was preached by the Rev. H. hlelvill from
st. Matthew, ch. 18, v. 12, 13.
The Duchess of Cambridge and the Grand Dake and the
Grand Duchess of Mecklenburg-Strelitz attended the
service.

A Cabinet Council was held on Saturday at the
official residence of the First Lord of the Trea-
sury, in Downing-street. The Ministers pre-
sent were the Earl of Derby, the Lord Chancellor,
the Duke of Marlborough, the Earl of Malmes-
bury, the Right Hon. G. Hardy, Lord Stanley,
the Duke of Buckingham and Chandos, Sir John
Pakington, Sir S. Northcote, the Chancellor of the
Exchequer, the Right Hon. H. T. L. Corry, the
Duke of Richmond, Lord J. Manners, Lord Naas,
and the Right Hon. S. Walpole.

Despatches were received on Saturday at the Colonial-
office from the Governors of South Australia, Tasmania,
the Straits Settlements, the Maurittui, Natal, Malta, and
the Bahamas. Despatches were sent to the Governors of
the North American Provinces.

THE SULTAN.

BUCKINGHAM-PALACE, Jour 28.

In the forenoon his Imperial Majesty the
Sultan received tho following deputations:—From the
Reform Club, the Royal Asiatic Society, the Foreign
Affairs Committees and other Friends of Turkey, from
Manchester and Liverpool.
At one o'clock the following noblemen and gentlemen,
having received invitations from the Turkish Ambassador,
had the honour of being presented to the Sullen:—The
Dukes of Argyll, Buccleucb, Cleveland, St. Albans,
Sutherland, and Wellington ; the Marquises of Ailesbury,
Clanricarde, Hartington, and Westminster ; the Earls of
Beasborough, Cadogan (Captain of the Yeomen of the
Guard), Carnarvon, Clareodon, Cowper, Dartrey, De
Grey and Ripon, Denbigh, Ellenborough, Fitawilliam,
Granville, Grey, Grosvenor, Kimberley, Lumn, Russell,
Shrewsbury and Talbot, and Wilton ; Viscounts Cran-
borne, Eversley, and Ranelagh ; Lords Colville of Culross
(Master of the Buckhounde), Elebo, Houghton, Lytton,
Roinilly (Mester of the Rolls), Stanley of Alderley, and
Taunton ; the Speaker, the Right Hon. E. Cardwell, W.
Cowper, W. E. Gladstone, George J. Goschen, Sir G. Grey,
M.P., Edmund Hammond. and Sir R. Peel, Bart., M.P.
the Hon. Henry Elliot; Sirs Richard Mayne, Roundel]
Palmer, and Anthony de Rothschild ; Admirals Sir Sydney
Decree, Sir Alex. Milne. and Robt, Spencer Robinson ;
Generals Sir John Burgoyne, the Earl of Cardigan, K.C. 8.,
Sir William Codrington, Hon. Sir Edward Cust, Sir De
Lacy Evans, Sir Hope Grant, G.C.8., the Right Hon. J.
Peel, Sir John Pennefather. G.C.8., the Hon. Sir James
Yorke Barlett, and Lord Struthnairn ; Messrs. T. Baring,
M.P., Thee. Dent, Edward Egerton (Under -Secretary of
State), Brougham, George G. Glyn, H.P., Kirke,
M.P., Laing, M.P., Edward A. Palmer, KJ. Reed Chief
Constructor of the Navy), and Mr. Edward Shotton Otto-
man Vice-Consul at North Shields). The reception took
place in the Bow Drawing-room, the presentations being
made by the Lord Chamberlain.
In consequence of the melancholy death of Madame
linsurus, the Turkish ambassador was unable to be pre-
sent.

The Yeomen of the Guard were on duty in the hall and
on the grand staircase.
At • quarter before five o'clock the Sultan and his Im-
perial Highness Youuonff Izzedin Effendi, with the Otto-
man suite, and the Gentlemen of the Queen's Household
vacially appointed to attend on his Imperial Majesty, left
Buckingham Palace in ten open carriages and four for
Wimbledon, to be present at the review.
The Imperial cortege was escorted by a detachment of
the 3rd Hassan.

Their Imperial Highnesses Murad Effendi and Hamid
Effendi were also present at the Review, attended by their
suite.

After the review, the Bohan honoured the Earl and
Countess Spencer with his presence at an entertainment.
His Imperial Majesty and suite returned to Buckingham
Palace in the evening. _

Jucy 21.

The Sultan remained at the Palace throughout the day.
His Imperial Highness Youamouff Ixzedin Effendi took a
carriage drive to the Bobaieal Gardena in the Regent's-
park, and afterwards to Battersea-park.
WINDSOR, SUNDAY EVENING.
After several days' preparations at the Castle and at
General Hood's residence in Windsor great for the
reception of the Sultan, who had de ' to spend a
day inspecting the interesting objects at the Castle and
visiting the unrivalled scenery of Windsor Forest, it was
finally determined that he should arrive at Windsor this
morning, and every necessary measures were taken both
at the Castle and at General Hood's residence at Cumber-
land-lodge for his Imperial Majesty'. reception. A grand
promenade was to have taken place on the terrace of the
Castle in the afternoon, and two military bands were to
have been present, but the lamentable and unexpected in-
telligence of the death of the wife of the Turkish Ambas-
sador disarranged the whole of the contemplated proceed-
ings; and prevented the Sultan's second visit to Windsor.

Her Royal Highness the Duchess of Cambridge
will leave town next week, attended by Lady Geraldine
Somerset and Lord Frederick Panlet, for Rumpenheim,
her chateau near Fratildort, for the autumn.
. _ _

Their Royal Highnesses the Grand Duke and
Grand Duchies of Mecklenburg-Strelitz intend to leave
town early in the ensuing week for Btrelitz.
His Highness the Maharajah Dhuleep Singh
and the Maharanee, who recently returned to their country
seat, Elvedon-hall, Norfolk, have left for Scotland. The
infant princess accompanies her parents.
The marriage of the Hon. Robert Wellesley
Grosvenor, M.P. for Westminster, eldest son of Lord Ebury,
with the Han. Emilie B. White, only daughter of Lord
Annaly,waa solemnised on Saturday at St. Paul's, Xi:lights-
bridge.

The examination of candidates for admission to
the Staff College in February, 1868, will commence at
Chelsea Hospital this morning before Major-General W.
C. E. Napier, vice-president, and the members of the
Council of Military Education. The examination will
occupy the entire week.

We (Times) believe that not only the idea of
adapting the court of the India-office to the purposes of a
ball-room, but the credit of almost all the arrangements
which excited such universal admiration on Friday last,
are due to Sir Erskine Perry. He had a most arduous task
in converting a still unfinished public office, at very
abort notice, to such a purpose; and the entire success
with which it was ►chieved is the beat evidence of the
good taste and unsparing labour applied in achieving it.
The statement made in some of the papers that
Lord Beauchamp is to succeed Lord Behnore as Under-
Secretary is stated to be without foundation.

Victor Hugo arrived at Southampton from
Guarnsay last week.

The New INDIA-OFFICE.—We are informed that
as many persons who were desirous of seeing the new
India-ofEoe on Saturday have been disappointed, in eons.-
queues of the necessity of removing the valuable plants
and other articles from the building, parsons who may
obtain tickets from the India-office, Vietoria.etreet, will
be admitted this day either in the forenoon or evening.