The British Press; or, Morning Literary Advertiser.
London, England, 1818-05-26 00:00:00

Corporation, air'. I..et not ban ia ditidro Isofire the
1911 s 01 AlArch last, excepting the charge of wain-
tattling the business of the stn.! Corpora' .
Cie Atnija PIGGOTr now appeared to shew
cauay agaimit this role, and coutendrrl, that this
Court Istirl sin !sower, still less any right, In interpose
its Oilliirbri,y to control tlie smiseagement oily cuut-
its
ri I .1 company in its pecuniary C.1111•Pflia; for, in
tier iaterposition of such power would be ass
ption of legislative authority. But,
posing the Cou•t could attract to itself 11 potter so
novel and unprecedented, in this mite it would ale
Gear from the law as it stood, that the Governors of
the Hank of England bud no power to divide the
stock. or any part of it, or obey the rnaudate of the
Court in the teren• now required.
Lord EI.I.ENSOROUGO interposed. and Hiked,
whether the Corporator, who had applied for the in-
terposition of the Court, should nen have ii-ed all
mean., competent fur him to use, toenail' the ob-
ject he had in view, before he mode this
—did it :gnaw that 'this Gentlenstin had crime all
that he woad have done towards obtaining the end
its view ? Ilad he attended the meetings held for
the purpose of declaring dividend., and made any
resistance to the proceedings of those meetings. or
-taken say step before the constittsted authority of
*Ow Corporation, it, effect the ilurpOse Oftlitepresent
mppliention ?
Sir ARTMI;II Pianos''r said, that Ylr. Giindry,
Hue applicant, had certainly not taken those'steps,
mod this was oue of several other flat answers to the
'Lord Etutstisoaoudit—" If there is that ob-
jection applying to this proceeding, I don't see
'tide this motion elm be entertained."
Sir A. I'IUGOTT—" The dividend was made no
the 19th of March. Enid it Vas declared by 'the
General Court; and no motion was male by Mr.
try for any larger or any other dividend than
per cent."
Lord Et.t.cuaneouoir-4, Nor Made any objec-
tion or oppositicin ?"
Sir A. PIGIGOTT" There was nn motion made
hy him for any other dividend, nor did lie snake
op positiost to the dividend then declared."
Lord Ett.susorionon—w If a party dere not
dissent, he assents."
Mr. BROW/GNAW being talleettima fir his an-
swer to this objection. said, he felt himself obliged
to admit, that it was fatal In point of turns to the
present application. Ile had no doubt of being
able to satisfy the Court that there was an nverplu.
of profits divisible in the hands of the Husk of
Esiglasid, independent of all 'contingent demands
upon them, and the banking 'capital nOceloary to
carry on 'heir business.
Lord ELLastuoitonou said, dud this gentleman
could not attain the object of his mot* per sully»; ;
his motion should first he made to the Court, -
petent to give information as to the state of the funds
of the Corporetion : and if they did not produce the
required information, then there inight be an appli-
cation for a inersdastis to compel them. Bat he was
now assuming what the result of the fonds was,
without adopting the proper Means of isiejuiring
into the subject.
• Mr. BIOUGHAM said. he could AO, by the 56th
Geo. 111. toast, two years since. the Bask had di-
vided 9.5 per cent. prat Upon their capital ; but
as he could not get over the preliminary objection
• in point of form, he must withdraw the Motion; and
come better prepared soother time.
• Sir A. Nonni' said, that if the ease had gone
ots, he should have referred to several classes iss
the Act mentioned, which would have afforded an
mistier to the application, in addition to several
Others with which he was prepared.
Mr. .---Sic.aat.uTT, on the same ride, mid, that if
the application succeeded. no further dividend
could be declared for years to come.
Rule discharged.