The British Press; or, Morning Literary Advertiser.
London, England, 1826-10-31 00:00:00

GoMonth'. These three gentlemen took upon them the provisional
responsibility for 134 shares, and several other gentlemen came
forward to a entailer extent, so that I%) shares ware disposed of out
012110. Under such circumstances, the Conseil looked leftward
confidently to the exertions of individual Proprietors, to induce I
others to become ivtbscribers. When he looked to the real and
activity Which was displayed in the Council, and to the itonediate
prospect which there t. sot of in actitsl commencement to dos peat
undertaking—for they were about immediately to proceed to exce-
-1 voting the ground, which was nothing less than digging for. 2nd in
11 some measure laying, the foundation—when he knew that the
foundation Atone was to be laid in about three monllis, and that in
about double that time the walls of the InatitutiOn might be seen
rising above the outward paling, he could not doubt that they
would have the cordial and zealous el-operation of the whole body
of Proprietors. and that every exertion would be made to procure
subsenptions from persona who were not yet members Of their
body. By placing in the hands of the Council a larger fund, grad
additional improvements might be made; besides %Welt, in the
find instance, they would redeem the supplemental or provisional
shares, and relieve those public-spirited gentlemen from that it•
imonsibility which they had so generously taken upon themselvelt.
In addition to all this, they would leave in the hands of the
Council, under their own control, a considerable sum for the ex-
tension and improvement of the original plan. (Applause.)
The resolution was then agreed to.
SES% moved the second Itesolution,which was, that the capi-
al of the Institution should be limited to 1.10.0010., with power to
the Council to extend the same to every ambunt not exceeding
300.000/.
Illr. R. Taysost moved a Resolution to the effect that the meet.
ing confirmed the Report of the Council, and requested them to
Oversee the excavation, and superintend the progress of the
building.
A PROPIZTETOR said he understood by the Report that the
lowest estimate was 107,0001., but that the Council conceited
87.000 f. would effect all that was immediately desirable. Now he
wished to be informed what was the cost of what was at present

contemplated.
The CIiAIRMAN said the first contract was for 36.000 f. without,
the portico. The portico would probably cost about 14.00Q1., and
for the wings a third contract would be entercd into, which would
amount to about 311,0001. more. It might be at well to state that
the contract had been reduced as much as 10,000, by abridging
the ornament, and substituting some that were less laboured.
Mr. II UM E said the Council had preferred separate contrac's. in
order that they might effect all without the possibility of being
above the amount of the contract, or of any considerable intermit.
Lion arising in the progress of the works. (Applause.)
Mr. ilaotntnam said, the great object of the Council was that
they should not be hampered by obstructions in the most important
part of the undertaking, opening the classes. At least twelve most
Important classes would be opened in that pan of the bullring
which was now about to be commenced. Indeed it was more pet.
bable that it would be found to accommodate eighteen classes, but
at least twelve would be accommodated _ _

BD. SHEPHERD inquired bow it was intended to act in ease
there was not sufficient accommodation at first for a student ap.
;Tinted by each proprietor. Would the seniority of substatlptitin
give the right of priority in the appointment ?
The CHAIRMAN laid the Council had not yet deeded on that
po'nr. The right of appointment would probably depend on the
priority of signature, but the point was not decided.
Illr. CAMPBELL said, that although the proceedings of the
Council had not the stamp of perfection upon them, he believed It
was very generally acknowledged that they had acted to the best of
their .tudgment, and that what they had done was not opt n to any
material objectiona. (Hear.) If no more had been done than the
acquirement of a locality and a freehold in London, he thought it
was effecting much. When he tint joined in NI great and ini.
portant undertaking it made him nervous and sleepless at night to
think where a sufficient space could be found within this great
town for walks and building% such as were required. He felt that
it would require lunga to breathe as well as a station to stand upon.
This had been gained ; they were now in possession of sufficient
apace of no Ices titan eight acres, In a situation wonderfully com-
modious, considering what a place London was. He fared that they
might have beea seeking for years with half a million In their pockets,
and, though money was omnipotent, they might not have effected
so much. The thin!, however, was now fairly afloat, and, being
so, lie could not help adverting to one circumstance which surprised
him not a little. It was that the deed of settlement had not been
signed by a majority of the subscribers. Without entering into
•legal technicalities, he thought it was a part of the duties of those
who subscribed to share in the general responsibility. He knew
and cared nothing for the strict legal obligation. He was surrounded
by British gentlemen, who came forward to support this Institution
without any selfish feeling, or any hope of lucre. Ile might ad.
dress them in the words of Henry to his men, and say,
" There are none of you so mean and base
That !lath not noble lustre in his eyes

For this great speculation." (Applause.)
Mr. IlnounilAat said that, strictly and legally speaking, those
who had not signed the deed of settlement could not vote.
A PROPRIETon observed, that if those who did not sign toad
not vote, they could have no right to select a student, if priority of
appointment depended on priority of signature.
Mr. TOOKE—Certainly not ; the registry is the sign of prc-
prietory.
Colonel Jorens thought that objection might be got over by the
payment of the money, and not by the signature of the deed.
The CEAlRstAß,—Perhaps, without pressing this subject farthe
at present, the Council might be allowed to deliberate upon it.
Mr. II uME said he would be sorry if the idea went out that
there would not be room for the student appointed by every sub-
scriber. His own opinion was that there would be full room ; and
he thought this ought to he generally understood, lest some should
decline becoming subscribas, upon the ground that they had been
anticipated, and, as it were, lost their chant-.
Mr. BuottostAm had no doubt there would be ample accommo-
dation for all. Take the class must likely to be crowded—the the.
odor), class, for instance, there would be accommoda ion for from
300 to 500. Some doubt now existed upon the propriety of teach.
ing the classes In halves, so that if the class incranied above what
could be c mveniently accommodated, it would be only to determine
that they should be taught separately, and then they might be fully
accommodated. Instead of one lecture accompanied with examina.
don, (for there was no use in lectures without examination.) there
would be two lectures in the course of the day. 'Fah was the only
difference it could make, so that the deficiency of accommodation
was quite out of the question. (Hear.) There was one individual
he must mention before he concluded. It was an act of justice to
him and to the body of proprietors. He meant their worthy soli-
citor, Mr. Tooke, who had given them his gratuitous exertions on
every occasion, and attended with as much zeal and didgence as if
he w is the professional and paid solicitor of the Council. (Hear.)
Co'onel JoNts mitred that the Report of the Council be printed,
and the Resolutions of the Meeting advertised.
3lr. SHEPHERD moved that the cordial thanks of the Meeting
he given to Mr. Tooke, for his great attention to the interests of
the London University.
Mr. Burn:Guam begged to call the attention of the Meeting to
the claims of another Gentleman, who was deserving of their
warmest gratitude. He alluded to the Rev. Dr. Cox, who acted as
their Ilonorary Secretary. (Applause.)
A PROPRIETOR begged to inquire how soon it was likely the
building
HAIRMAN would be completed.
The C said it was not likely that a building of such
magnitude could be completed in leas than eighteen months.
Mr. Beton/111AM thought it was not desirable that the building
should be completed much before that time. The selection of fit
professors was a most important point. Their fitness should be un-
deniable, and their capacity and experience for teaching strictly
scrutinized. It would take from four to six months before a choice
could be made of any of the candidates, and some time must be al.
lowed to give an opportunity for the candidates to put in their
claims. A saving of time in these particulars would be dearly.pur.
chased ; and when the choice was made, those who were appointed
professors ought to be allowed time far preparation. Nothing could
be more indiscreet than to hurry them on without time for prepara-
tion. These two inevitable delays, then, the time spent in choos-
ing, and that allowed for preparation to those chosen, would oc-
cupy not less than fifteen months. Ile thought it would be fifteen
months well bestowed, and that there was no reason to regret that
the building could not be completed before that time. or two or
three months after. His opinion was that they should be able to
proceed to business io eighteen months from the "time he was
speaking.
' A PROPRIETOR was surprised to learn that the work could be
executed and prepumtions made for commencing in so short a time.
He was more than answered by the able statement the Meeting had
just heard.
Ale. Hung Said it ought to be understood that the Council were
ready at any time to receive presents of books or other bequests.
Thanks were then voted to the Chairman.
Lard AUCKLAND said he was proud and happy to think that that
undertaking was now placed beyond the possibility of failure,
which might be justly ciaracteristd as the most finponani, bear- j
&la', and useful of our time.
Mr. GoLnsurny observed, that however what had been done
might go out to the world as the proceedings of the Cootie!, the
greatest share was to be ascribed to the talents, seal, and activity of
the Noble Lonl.
A PROPRIETOR then moved the grateful thanks of the Meeting
to the Council. tor their disinteres•cd and public-spirited setrices.
Mr. JOHN Saturn returned thankson behalf of the Members of
the Couocil, and stated that they were amply repaid by the cond.
deration that they had successfully promoted the most important
and useful project that had ever been entertained.
The Resolutions were duly seconded, and passed unanimously.

There is a flower at prevent, at Strathtyrum, near St.l
Andrew's, a fine specimen of the Yucca Gloriosa ; the
plant is eight feet long, and the flower stalk is three anti a
half feet long, and contains about 110 flower buds. From
the appearance of the plant, it must be of a great age; and
this is the first time it has ever flowered.
STEAM COACII.--MT. Borstal' has now so far succeed-
ed with his steam carriage, that he made a trial of it on
Monday, along the Ferry-road fora short distance, coming
round by the Fort on his way home; and, considering the
many improvements it must still underp, it was really
wonderful to Bee the manner in Which it -plodded its way
along, running at the rate, we should suppose, of five or
six miles an hour, though we understand a greater velocity
could have been given had a slow motion not been neat-
Pry to observe the working of the machinery.

THB GliEb.lr LOANS.
Luriottis has addressed a long letter to the tionei oit die
subject of these Loans, in which, after explaining some of the suites
hunts made In the Report of the Committee of Greek floadbolderi,
he proceeds to ensure Alr. flouring, Mr. Hume, and other gent*.
nice. We extract the following passages : •
" The tircek Scrip baying fallen to about 18 discount, Mr. Mph
'ring al:plied to the deputation, and earnestly besought therm to re-
lieve hltn from the loss which, as the holdef of 26.80111/. Scrip, he
we's likely to sustain. The Deputies hesitated to coimply with hie
request ; but„ after he had urged it upon them again and again.
both personally and through the medium of mutual friends, atql
had represented that he could not liter up against the loss. they
assented. It was at first proposed that 5.00 W. should be advanced.
to him ; but the Deputies having stipulated that he sherd,' pay the
(mirth instalment, lie objected to this, and it was ultimately ar-
ranged that the Scrip should be purchased from 1:1111 at the tate et
10 per cent. discount.
" Tit a arrangement being concluded, Mr. Howling addressefi to
the deputation it letter in the French language, of wheel, :he (Moo-
ing is a translation
" • 5, Jeffrey's.squate. Sept. 21, 1824.
•• • My. Friends,—lt is my duty to return you my earliest thanks
fur the leveret you have done ine in withdrawing for the account of
your Government the 25,0001. Scrip. at 10 per cent. discount. The
atteritice of 2,509/. I make with pleasure, as a further pledge of my
wishes and love tor your country, and I hope that her credit as well
as her independence will be established by subsequent events.
mu still the holdiT of a considerable sum, anti 1 hope that we
shall see the loan rise to a good price for the benefit of every body.
" • 1 salute you cordially,
(Signed) •• •J. Bowmfget.'
" On the 19th of October the deputation received another letter
b French, to the following effect:—
" • 3, Jeffrey's-square, Oct. 19, 1894.
" • My Friends,—Now that the mists of the loan is past I shall
feel greatly obliged by your giving an order to Messrs. 'Lougnnart
ao4 Co. to deliver to me the 23,00111. Scrip on my paying them the
6.0001. and the other instalments: and I thank you shyster for
1 the assistance you afforded me as a nionamie when 1 so greatly
I needed it.

" Accept my cordial salutations.
(Signed) "• J. isovaiiro.
" 4 Meant. Orlando, Zalmfu, and Luriottis.'
" Mr. Howring made a similar application in another letter to tre
of the Itch of November, and in even move urgent terms. to which
we replied, that, in consideration of his having acted as Honorary
Secretary to the Greek Committee, we woull coaiply with h.*
request, provided that it was diednedy declared and explained to
have been a sale, so that we might not be compromised with cur
Government, to which we had written, stating such to be the nature
of the transaction. To this letter Mr. iiownng sent the following
reply :
" • London, Nov. 15, 1824.
" Gendemen,—l have received yen, favour of the 15th ir.at.
I regret exceedingly that there should be any misunderstanding on
the subject df the Scrip. For the services rendered, or Which I
may be able to render, to the Greek cause, I have been, and shall
be. sufficiently rewarded, if they can be considered to have pro.
duced the slightest benefit. I have not a copy Or my letter of the
21st of September, lint, as you state it to recrgaise an absolute sate
of the 25,000/. to the Greek Outernment, I ant satisfied that it
shall be so considered ; but, as the difference to me IS a serious one.
and to the Greek Government of little importance, 1 hope you r!1l
oblige me by allowing the return of the 25,000/. Scrip on the
repayment of the 5,000 f. received from Messrs. LOUglill6o, Son,
and Co. _ _ .

" I am, Gentlemen, xour obe‘l nt servant,
(Signed) " * JOHN ildwartcG.
" ' Mesita. John Orlando, J. Zriatis, and And. lAitiutus
„A transaction of the same nature also took place kith Itlr
Hume; and which, on the score of even-handed justice, 1 feel
compelled to avow, is, as narrated in your paper, substantially

corTiTt.•

•• I must now, in justice to myself, advert to the'next paragraph
in the Report, which refers to a sum of 7,fanal. allowed by Messrs.
Rieerdo, tad of their commiseion, to the Deputies (Messrs. Or.
Zaimis, and leurioais).
The treaty for the second loan was carried on and conclutisil
during my absence front this country, and whilst I was endeavour.'
ing to negotiate a lien at Paris. I returned to London on the l Eta
of February, 111333, and reached eackville.street about wo 'mitts
after midnight. At about half-paet 'even in the morning I was I
formed Mr. E. Ellice was waiting to see me. I immediate., went
to him; he told me be had heard, through Messrs. Ricardo, that L
had made arrangements for a loan in Paris, and he requested that
would slow hint the contract. This I refused to do, telling hide
that as I had only arrived a few hours before, and as my colleagues
had not seen it, I could not show It to him; but in answer to his
inquiry I told bins that the price was b 9. Mr. Ellice then inquired
if I did not know that my colleagues had concluded a contract for a
loan with Messrs. Ricardo, Which excluded every other loan's 1
told him that I was as yet wholly unacquaintea with the arrange.
menu they had made. Mr. Ellice then requested that Messrs. (Jr.
lando and Zaimis shout.' be allied to join us, which, after lasho:t
time, they did. Me. Ellice said, it would be necessary to reject the
contract entered into at Paris, as that with Messrs. Ricardo yes
about to be signed. A similar observation was made by Mr. Or.
lando. Some remarks were then made as to the difference in the
price of
,the two loans, and, pets iouslyito annulling the one con-
cluded at Paris, I wished to be better informed of the bases of the
Contract with Messrs. Ricardo. A memorandum was shown t,
me, which was by no means clear or satisfactory to My mind, and
I suggested that the terms should be distinctly defined. It aws
agreed that it should IT done, and Mr. Ellice said that he would see
ale. Ricardo, and would shortly return to us. In fact, about twelve
o'clock, Mr. Ellice, accomparued by the Messrs. Ricardo and their
Solicitor, brought with them an agreement, which, after consider.
able discussions upon several points, was signed. In the course of
our discussions, I pointed out the propriety of introdocing a shpt:.
tallith that the proceeds of the loan, including the dividends, sliculd
be deposited in the Bank of England, for better security; but this.
as well as some other suggestions, was over-ruled. Mr. Ellice pro.
posed that lie and Mr. 1. Ricanlo ;Mould be introduced Into the
contract, as Commissioners of the third i at; but this was objected
to by all the Deputies, and particularly by Mr. Orlando, to whesu
Mr. Ellice observed, • 1 am aware that you have sufficient re lot
for making objection from what has already occurred ; but as 31 r.
Mende and myself will constitute that third part, you cannot
doubt but that we shall concur with you in whatever may be the
most likely to serve your country.' This, however, was not agreed
to; the memorandum was signed, and a letter written, which
Mr. Ricardo was requested to bend express to Paris, to the b ink! s
with whom I had made the arrangement, informing them of the
conclusion of a loan in this country, and the consequent neceseity
for arm ling the contract 1 had concluded with them.
L`p to this time, no mention whatever has been made to M 4
that any commission had been reserved for the Deputies ; but a
few days afterwards Mr. Zaimis, Itsvieg heard that his brother
was implicated in the dissensions between the military Chiefs tier!
the Government, resolved on returning home, and desired to Wee
with him his proportion of the commiseinn to be allowed by Messrs.
Ricardo. This was the first intimation I had ever received of the
circumstance. I expressed my great astonishment at such an at.
rangement, and declared that I would never participate in it.
" After this it was considered that money would be wanting fart
an expedition to be sent to Greece under an English Colonel, and it
was agreed that the 7..aftat. should be appropriated to it, and
Messrs. Ricardo were accordingly requested by Mr. Orlando and
myself to puss that sum to the credit of the Government, and the
saute appears credited to the Government in their accounts, whi.cla
were laid before the Committee. This measure, however, was out
carried lam execution, but the whole of the 7,.:00/. was, with a
further sum afterwards, remitted to Marseilles to be laid out in the
building of a frigate. Owing to political difficulties, this object
I
placed by us with Messrs. Rani, Brothers, in whoee bands it has
I ever biIICC remained.
I. • The following article, which appeared in the Times of Satur.
, day, contains the account of the transaction to which Mr. Lutiottil
refire:—

"GREEK LOANS.--We yesterday alluded to some advantages
which had accrued to certain members of the Greek Committee ;
we now state what we hare beard on this subject, and what, with.
out pledging ourselves for its perfect accuracy in every part, we be-
lieve to be so hstantislly true. It iv stated, then, that of the first loan
Mr. Hume hatt assigned to him 10,000/. stock, at the rate of 391.
per hundred; the original price at winch the contract was Matte.
31r. Hume accepted the stock at this value. Some time after.
words the bands fell to IC per cent. discount. 3lr. Hume,
alarmed at the depreciation of his property, applied to the De.
puties and Contractors to rei eve him Irani this loss. After some
discussion, in which it was intimated that If the stock bad risen
there would hare been no analogous sacrifice on the part of Mrs
flume, it was agreed to take the stock off his bands at the rate of
13 per cent. discount. Mr. Hume consented, and thus lost 1,30.!.
instead of I.GOOL Some time afterwards Greek stock rose tiln.te
par. 111 r. Hume now thought that lie might as well recover the
1,3001. He a. cordingly made strenuous application to have this suns
returned to him. The application excited onsidcersWe surptite; but
from an unwillingness to disoblige ko faithful a friend of the Greek
cause, this sum was given to him. Mr. flume must now, it nab
thought, be satisfied : every thing had been done to relieve hint
from the loss which his patriotism had so neatly infEcted upon
Mit no; Mr. Hume is. as is well known, an able arithmetiet.m.
He discovered by calculation; that, since the date when the ow-
tractors took his stock from hm at 13 per sent. discount, and the
date when they pail hint the 1,3001., a certain interest hail accrued
• ' I,3Ottf. He accordingly applied
atnnunt, which wall
Committee,

on the said I He accordingly app s this gnaw,
amt actually rehired its amount, which wet the unimportant rum
of 541. Another Member of the Committee, 31r. llowrii:g, had as-
signed to him MOM at the origioM price Of 1.91. per mitt 'Aa
Block having folloolialrinada velissessit remonstrances, coupled with,
representatWouC services es the Gretk cause. lie MiC4tedal
so far shut the Deputise relieved him, and bought the stock at the.
rate of 10 per cent. dieesant. The stock subsequently knee to 4•
premium. Sir. Howeisig...mst satisfied, like 3r. Hume, May
merely losing aillikem.appilei is have the stack returned io Mufti
now that it bed desalts Wow He was shown, by his own header
writing, that ha had mid the Meek to the Deputes. lie dedgysa,
he had forgot the cirmemerisee t td the Dcputtee, though Diet
refused to give him befit the stock, paid him bask 2,600 i . %ink
him in the situation he Eras is fish he int Wight the I feek„ The
Deputies were the mew suspeised at aim 111•110C1 in •thhi aseesdh
friend of Greece, al heibidepit !LOW he lab shimeet the essesubut
Ilion of the time loss, Mr. MON araisa,ol7laer et dee Gnat
!.Committee. on the 10th of Meech, 1 agreed temze: tho.
building of a steant.loat fee the sum of 11, The were
shied f and, what we behests is tithes unainesl, the mealy wee,