The Express.
London, England, 1867-03-11 00:00:00

THE EXPRESS, MONDAY EVENING, MARCH 11, 1g67.

consciously, having their minds warped between
their sense of duty and their prospect of profit. It
is perfectly unreasonable to expect a judge to be
impartial in deciding on his own case, or,
at all events, the phenomenon will not,
in these sceptical days, be received with
credit. But in this particular instance it is of
paramount necessity that the judgments rendered
shall command a conviction of their complete impar-
tiality. There was a general desire that certain
steps should be taken to check a practice which
had proved so often prejudicial. The Committee
refused to do anything, and the question has,
therefore, been taken out of theirhamls. A Bill has
been introduced in Parliament to enact that in
contracts for selling joint stock bank shares the
numbers of these shares shall be inserted. This
provision Can in no wise prejudice the bend fide
seller, but it will materially, if not totally, check
I the operations of those speculators whose sole
object is to trade upon the ruin of their
neighbours. The Committee seem to have
discerned the mistake they made, and have put
forth a document, a piece juxtificalie,, which hardly
helps their case. They contend for "an open and
" unrestricted market for both buyer and seller."
How does Mr. LEEMAN'S Bill prevent it ? They
say that a shareholder could not realise his pro-
perty in an emergency in consequence of the re-
strictive regulations now proposed. We should
like to know the reason why. To ordinary minds
it seems that when a boniiiide. proprietor desires to
sell his shares he will do so much more advan-
tageously than if exposed to the competition of a
dozen speculators for the fall. They speak also
of prices "being mainly regulated by the amount
"of stock or shares actually taken or de-
" livered by the public"—a conclusion upon
which there can be no dispute, but in the
absence of some measure like Mr. LEEMAN'S Bill
this amount has hitherto been impossible to be
ascertained. It is a more serious matter when it
is pointed out that the effect of the regulation would
be to prevents director of a bank or other influential
person from selling his shares in a period of un-
easiness or panic. We would rather not go into
this question, since it implies that in the case of
a falling company a director would be debarred
from the knavery of making use of his special
knowledge to sell his shams to an innocent buyer.
There is one more question that should be consi-
dered. The Connnittee observe that " the rule
" which enablesthe purchaser to complete his contract
" by buying in the undelivered shares, without re-
" gaud to price, and at the expense of theseller, is afar
" more stringent and effectual check to speculative
" sales than any restriction or penalty that could
"be devised." This reads admirably on paper,
and is prima furle true. But the Committee are
well aware that the dealers in joint stock bank
shares are very few in number ; three, or perhaps
four at the outside. Supposing none of these
will sell—and it has occurred often enough—of
what good is the privilege of buying in ? Instances
occurred, not infrequently, last year of persons
having bought bank shares, which the
dealer, from default, as he said, of his client,
was unable to deliver. "We shall buy them
" in against you," said the broker, and lie tried,
but found no one able or willing to sell. The
" check " was evidently good fur nothing, as far
as the Stock Exchange was concerned, and indeed
might at any time be set aside by a combination,
actual or tacit, of three or four dealers.
Lastly, when the present mode of dealing in
bank shares is dignified by the term of free trade,
it is desirable to see how differently it applies to
the purchaser and the seller. The former must
possess a large capital, the latter need have com-
paratively little. Suppose a client instructs his
breker to sell fifty shares in a given bank. Per-
haps he has them, and the transaction is safe ;
perhaps he has none, and the bargain is purely
speculative. " But," reasons the broker, "it is
" impossible in a time of difficulty and discredit
" for the shares to rise more than 51., and I
" know my client to be good for at all events
" 2501." Take the converse, of a man desiring to
buy the sante shares, which perhaps stand at 601.
to 801. in the market, say 701. This involves an
outlay of 3,5001. Many men may be good for
2501., who would find it impossible to furnish
3,5001. Hence the broker for the purchaser is
cautious, and hesitates, while the broker for the
seller shows no hesitation whatever.
The debate in the House of Commons was not
particularly instructive. Mr. NEATE showed great
want of acquaintance with the subject, but voted
on the right side. As a set-off to him Mr. CRAWFOID
showed his practical knowledge, and voted on the
wrong. By far the best speech on the subject
was made by Mr. ALLEN. Although short it was
really exhaustive, and went thoroughly home to
the subject. The more elaborate efforts of
Alderman &Leixoes and of the distinguished
member for the City, Mr. CLAWTOED, were by
comparison failures. As we have already said,
not much is gained by these debates, but common
sense will in the end have its way ; and as re-
gards this question, we cannot help thinking that
Mr. ALLEN will, as regards soundness of judgement,
be one of the leaders.

HER ROYAL HIGHNESS THE PRINCESS
OF WALES.

We have authority to state that the paragraph
in the honing Puss of this day, relating to the
Princess of Wales, is not authorised. Her royal
highness is suffering much from the rheumatism in
the knee, from which, as stated in the last bulletin,
the recovery must necessarily be slow. There is
no foundation for the report that the Queen is
coming to London to-day.
March 11, 11 a.m.

DEATH Or THE DEAN Or HEREFORD.—We learn
by telegraph that the Very Rae. Richard Dawes, M.A.,
dean of Hereford, died yesterday at the deanery. His
mortal ailment was cancer in the stomach, from which he
had been suffering for some weeks past. Mr. Dimas was
fourth wrangler of his year, B.A. 1817, M.A. 1820, and
afterwards fellow and tutor of Downing College, Cam.
bridge. He was promoted to the deanery of Hereford in
1850.

ST. PAVL's CATHEDRAL.—Yesterday evening the
11th of the special services for the present year took place
under the douse of St. Paul's. It was, as usual, • full
choral service, the sermon being preached by the Rev. C.
Wellington Fume, 11. A., of Christ Church, Oxford, rector
of Staines. The sermon next Sunday evening sill be
preached by the Right Rev. Dr. Craves, Bishop of
Limerick._

THZ BISHOP OF OXFORD AND RITCALIRM.—A
lay declaration from 200 male communicants of Reading,
expressing want of confidence in the administration of the
Bishop of Oxford, has just been presented to his lord-
ship. Those who sign the declaration say that they feel
that a wide-spread apostacy from protestant truth
and practice has already taken place in the land,
and that in the diocese over which his lordship so
energetically presides the evil is extensively diffused
and actively progressing. They conclude as follows :
" Under these circumstances, after close observa-
tion tf your lordship's episcopal career, and impelled by
the deep conviction that the present ix the most im-
portant religious crisis which has come upon England
since the Reformation, we feel it our bounden, but painful
duty respectfully, yet frankly, to state that we have no
confidence in the course pursued by your lordship as our
spiritual guide.—Regretting the necessity for this avowal
of our sentiments, we remain your lordship's obedient
servants." [2OO signatures follow, and among them are Dr.
' Cowan, Colonel Kizett, Dr. Mates, Major Papillon, Dr.
Woodlioum, &c.l
DISPRNSARY TOR Sire DISTAREA, 50, GREAT
M 111.1 so Hort: H•WITRET, REGINT-RTREIT. W.-294 patients
were relieved at this dispensary during the week ending
March 9.

OUR CONTEMPORARIES.
rpm DAY.)

Cite (Court.

BUCKINGHAM PALACB, MAum 9.

The Queen, accompanied by Primes. Christian,
went out this morning, attended by the Duchess of
burghe.
Princess Beatrice and Prince Henry of Prussia drove to
the Zoological Gardens.
Princess Louise, attended by Lady Caroline Barrington,
went to Marlborough-house, and visited the Princess of
Wales.

The Queen received to-day at Buckingham Palace an
addreu of congratulation from the Corporation of the City
of London on the birth of a Princess.

Her Majesty, accompanied by Princess Christian and
Princes Louise, visited the Princess of Wales at Marl-
borough-house this afternoon.
Her Majesty and their royal highnesses left Marlborough-
house a• 5 o'clock, for Windsor Castle, escorted to Pad-
dington by a detachment of the 14th Hussars.
The Duchess of Roxburgh', Mnjor•General Hon. A. N•
Hood, and Colonel the Hon. A. Hsrdinge were in
attendance.

Prince Leopold, Princess Beatrice, and Prime Henry of
Prussia, attended by Lady Caroline Barrington, Mr. Legg,
and Captain von Schroetter, met the Queen at Paddington,
and travelled with her Majesty to Windsor.
The Duchess of Cambridge visited her Majesty at Buck-
ingham Palace this afternoon.

WINDSOR CASTLE, M.Ascii 10.

The Queen, accompanied by Princess Christian, Princess
Louise, Prince Leopold, Princess Beatrice, and Prince
Henry of Prussia, arrived at Windsor Castle at 20 minutes
pest 6 o'clock last evening, from Buckingham Palace.
Her Majesty was attended by the Duchess of Roxburgh.,
Lady Susan Melville, Lady Caroline Barrington, the Hon.
Caroline Cavendish, the Hon. Florence Seymour, Major-
General Hon. A. N. Hood, Colonel Hon. A. Hardinge,
Mr. Legg, and Captain von Schroetter.
Prince Arthur, attended by Major Elphinstone, arrived
at the Castle last evening from Greenwich-park.
The Queen, Princess Christian, Princess Louise, Prince
Arthur, Prince Leopold, and Princess Beatrice, and the
Ladies and Gentlemen in Waiting, attended Divine Service
this morning in the private chapel.
The Rev. C. Kingsley, Chaplain in Ordinary to the
Queen, preached the sermon.
Lady Begot arrived at the Castle yesterday, and had
the honour of dining with the Queen and the Royal
Family.
The Rev. C. Kingsley also arrived at the Castle yester-
day.

The Prince of Wales attended Divine Service at the
Chapel Royal, St. James's, yesterday morning.
The communion service was read by the Rev. Thomas
Helmore and Rev. C. V. H. Sumner.
Anthem—" How dear are thy counsels."—Crotch.
Mr. Gass presided at the organ.
The sermon was preached by the Load Bishop of Ely,
from Acts, c. iii. v. 19.

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 Chan-
cellor, the Duke of Marlborough, the Right Hon.
Spencer Walpole, Lord Stanley, the Duke of
Buckingham, Sir John Pakington, Sir Stafford
Northcote, the Chancellor of the Exchequer, the
Right Hon. H. L. Cori", the Duke of Richmond,
Lord J. Manners, and the Right Hon. Gathorne
Hardy.

Sir D. Gooch, M.P., Mr. Laing, M.P., Mr. Watkin,M.P.
and Mr. Young waited upon the Chancellor of the Ex:
chequer in Downing-street on Saturday. Sir Stafford
Northeote was present at the interview.
A deputation, consisting of Lord George Paget, Sir
James Ferguason, Captain Dashwood, Mr. W. Vaughan
Williama, Mr. Winans, Mr. D. Cubitt, and Mr. Somerset,
had an interview with Lord John Manners, at her
Majesty's Office of Works, on Saturday.
Despatches were sent on Saturday from the Colonial-
office to the Governors of the Cape of Good Hope, Natal,
St. Helena, Canada, and the Bahamas.

His Royal Highness the Prince of Wales
honoured Lord Henry Lennox, M.P., with his presence at
dinner on Saturday, at his residence at the Admiralty,
Whitehall. There were present to meet his Royal High-
ness—the Duke of Sutherland, the Duke of St. Alban's
and Lady Diana Beauclerk, Lord and lady Cecilia Bing-
ham, Hon. Charles Carington, Mr. George and Lady
Charlotte Russell, Dr. Quin, tc.

His Royal Highness the Duke (4 Cambridge en-
tertained at dinner on Saturday evening, at Gloucester-
house, Piocadilly, his Excellency the Russian Ambassador,
his Excellency the Austria&Ambassador, the Due of Mon-
trose, the Earl of Bradford, the Earl of Shaftesbury, the
Earl of Hardwicke, Viscount Cranborne, Lord Stanley,
M.P., Lord John Manners, M.P., Lord de Mile and
Dudley, Lord Colville, the Right Hon. Sir John raking-
ton, Bart., M.P. ; the Right Hun, Sir Robert Peel, Bart.,
M.P. ; Vice-Admiral Sir Sydney C. Dawes, Vice-Admiral
Sir Alexander Milne, Lieutenant-Colonel Sir W. Russell,
Bart., M.P.; Mr. G. Cavendish Bentinck, M.P., Colonel
North, M.P., Mr. Beaumont, M.P., Mr. Sykes, M.P., Mr.
G. Tomline, M.P., and Colonel Tyrwhitt (in waiting on his
royal highnew).

The Count and Countess do Paris honoured Lady
Molesworth with their presence at dinner on Saturday
last at her residence in Eaton-place. The following com-
pany were present :—His Excellency the Prussian Ambas-
sador, the Marquis and Marchioness of Clanricarde, the
Earl and Countess of Clarendon, the Earl Cadogan, Fran-
ces Countess Waldegrave and the Right Hon. Chichester
Forteacue, M.P., Lady Dorothy Nevin, the Hon. Edward
F. Leveson Cower, M.P., Mr. George Moffatt, M.P., and
Mrs. Moffatt, Mr. R. Bernal Osborne, M.P., Mrs. acschen,
Mr. Delane, Mr. Harcourt, Mr. Alfred Montgomery,
and the lady in waiting on the Countess de Paris, &c.
Later in the evening her ladyship had a reception to meet
their royal highnesses.
The Duchess of Inverness entertained the Earl
Russell, the Countess of Kerry and Mr. Francis Gore.
Viscount and Viscountess Torrington, Viscount and
Viscountess Sudley, Lord and Lady Stanley of Alderley,
the Right Hon. Sir David Dundee, M.P., Baron Beck
Fru., H. de Sabouroff, Mr. and Lady Maria Ponsonby,
Mr. and Lady Elizabeth Bowllly, Mr. Arthur Russell,
M.P., and Mrs. Russell, Mr. and Mrs. Boothby and
Min Anson, Mr. Wm. Peel, Mr. Sandford, &c., at dinner
on Saturday at her residence in Kensington Palace.

The Earl and Countess Percy had a dinner party
on Saturday at Northumberland House, the guests in-
cluding the Marquis and .Marchioness of Salisbury,
the Earl and Countess Grey, the Earl and Countess
Stanhope and Lady Mary Stanhope, the Earl and Lady
Constance Grosvenor, Lord and Lady Elcho, &c.

Mr. Blackburn, the Lord Chancellor of Ireland,
is seriously ill.

The Right Hon. the Speaker gave his fourth
parliamentary full-dress dinner on Saturday to the follow-
ing noblemen and gentlemen :—Lord George Manners,
Lord Robert Montagu, Lord Arthur Clinton, Viscount
Hollandale, Hon. Henry Portman, Right Hon. General
Forester, Right Hon. Henry Baillie, Sir Philip Egerton,
Bart., Sir T. F. Buxton, Bari, Sir Charles Russell, Bart.,
i Admiral Erskine, Colonel Bourne, Colonel Bartteiot, Co-
lonel Hogg, Colonel Dyott, Major Dickaon,Mr. It. Ormsby
Gore, Mr. Winn Knight, Mr. Edward Ellice, Mr. Acland,
Mr. G. Grenfell Glyn Mr. C.oldney, Mr. James Lowther,
Mr. Beresforil Hope, Mr. Hildyanl, Captain Herbert, Mr.
Heneage, Mr. lon Hamilton, Mr. Grove, Mr. Greensll,
Mr. R. N. Grenville, Mr. Paull, Mr. F. S. Powell, Mr. P.
Robertson, Rev. Dr. Merivale (chaplain), and Mr. Alfred
Denison, (private secretary.)
LORD CIA/SCURRY AND THE DEPETY-LIZETENANT.
—The Lord Mayor has been made a deputy-lieutenant for
the county of Dublin—a fact which has given mortal
offence to the political susceptibilities of Lord Cloncurry.
The following indignant letter appears in thelfad of Satur-
day evening. It is addressed to Lord Howth, as Lieutenant
of the county and county of the city of Dublin :—" Lyons,
March H. Dear Howth,—As I see by this day's Dublin
newspapers that you have thought At to make Mr.
Charles White's ultra-radical election agent a deputy.
lieutenant for Dublin, I write to request you will direct
that my name be removed from that diaWnoured list.
Certainly in the present unhappy and disgraced state of
Ireland, entirely caused by the past sell& conduct of the
mendacious, mercenary, professional agitators who so
abound in this unfortunate country, it a a singular time
to select to honour one who for many years was only
notorious as • fomenter of agrarian disturbance. I have
had no communication with any brother magistrate or
D. L. on the subject of this letter, but I am certain my
feelings on the matter are shared by every loyal man who
loves the best institutions and laws of his country,—l am,
dear Howth, yours faithfully, CLONCCRRY."
GREAT NORTHERN HORPITAL, CALEDONIAN-ROAD
TRUNOTOI.—Number of patients for the week midis;
March 8,1,014, et which 264 were new eases.