The Sun.
London, England, 1852-03-18 00:00:00

16 2-3
126

MARKET NEWS.—(THIS DAY-'
4.1.12 1'41.331EN` .41. L.,
The general demand w 33 exceedingly heavy, at
barely stationary prices. Beet, from 25 2d to 3s 2d;
Mutton, 25 6,1 to 3,8 d; Vord, 35 2d to 4s 2d; Pork,
2s 6d to 3s 8d per 81bs, by the carcase.
HAY MARIL TS.
SMITHFIELD.— Meadow Hay, 2/ 123 to 31 18; Od;
Clover ditto, 3/ 5s to 4l 7s; and Straw, 114 i to 1/ 9s per
load. A full average supply, and a sluggish demand.
CUMBERLAND.—Meadow Hay, 2/ 15s Od to 4105 Od;
Clover ditto, 31 5s to 4145; and Straw, 1/ 4s to 11 105 per
load. Supply good, and trade tolerably firm.
WHITECHAPEL.—Meadow Hay, 21 125 to 31 18s Od;
Clover ditto, 31 5s to 41 8s; and Straw, 1/4s to 119; per
load. Trade dull, at late rates.

MEAT in.artiunrs.
SOUTHALL, MARCH 17.—T0-day's market was well
supplied with fat stock, in which only a limited business
wan transacted, as follows:—Bnf, from 2s 6d to 3s sd;
Mutton, 2s 10d to 4s 4d; Veal, 3s 4d to 48 Od; Pork,
3s Od to 3s 8d per Blbs, to sink the offals.
RONFORD, MARCH 17. The general demand has
ruled heavy, and prices have had a downward tendency•
—Beef, from 2s 4d to 3s 8d; Mutton, 33 Od to 4s 4d;
Veal, 3a 4d to 49; Pork, 3s to 3s 6d per Sibs. Quarter
old store Pigs, 16s to 19s each.
LEWES, MARCH 16.—Very little business has been
transacted to-day, yet prices have ruled steady. Beef,
from 2s led to 3s led; Mutton, 3s 4d to 4s 4d; Pork, 35
to 3s 6d per Sibs.

CORN AVERAGES.
GENERAL AVERAGE PRICES OF BRITISH CORN
For the Week ended March 1 , 1852, made up from the Returns of the
Inspectors iu the different Cities and Towns in England and Miley'

per Imperial Quarter.
I WHEAT. ' I
BARLEY. OATS. I RYE. I BEANS. I "A°.•rd
PRICE .. I 428 10d 30s 5d 19s 9d I 30s 5d I 30s Id I 298 •

DUTIES ON FOREIGN CORN.
WHEAT. I BARLEY. I OATS. RYE. I BEANS. "A,.9:1
13 03( Is Od is Od Is Od is Od Is u
QUANTITIES OF GRAIN SOLD LAST WEEK.
Wheat, 107,374 ; Barley, 60,072; Oats, 25,581 ; Rye, 114 ;

9,362; Peas, 1,888 quarters.

BANK OF ENGLAND—(THISDAY)"
The ordinary halt-yearly general meeting of the pro
priotors of :Bank Stock was held this day at the 130';
Mr. Thomson Hankey, Governor of the Bank, in tbe
chair.
The minutes of the previous meeting having been
read and confirmed, e
The GOVERNOR said they had met according to the
bye-laws to declare a dividend, and he had to informLlT
Court that the net profits of the half-year ending the 2Sto
February last amounted to 546,572/ , being 7,6164 les°
than the preceding half-year. The rest on the 28th
February last amounted to 3,604,186/.-(Hear, bear")
He had also to inform the Court that the court of direc-
tors proposed that a dividend of 4 per cent. should of
made, if the court of proprietors should think fit, oatc)i
the interest and profits of the half-year ending the 284 E
of February last,- without any deductions on account
ineome-tax.---(Cheers.) After the payment of the Proli;
posed dividend of 4 per cent. the rest would stand e.
3,022,070/., being 9,295/. more than the rest of the e°''d
responding period of last year.-(Hear, hear.) lie elltief
now only to proposerthe question, that the divides' -
4 per cent. be (lectured and paid free of income-tax' he
Mr. DE WINTON had much pleasure in seconding t-a
proposition. It was highly creditable to the Goeernerci
that, hampered as they were by old-fashioned rules a 0
customs, they were enabled to recommend so large,he •
dividend when money was at so low a rate in `e,i.
market. He would have opposed an additional qua the
per cent. if it had been proposed, because he thought 1",-,
balance left should be allowed to accumulate until tja
rgheaaveounte.lealsnt
next dividend was declared, when he hoped they v°°°•
hwaovuel would s
soonlu in the
vaults, and
at hisp
presentro prophecy h eicny
thadhe
possession turned ''lt. niut fc
corrects for
..
_tab e
S2"ol:otoensombeort 1849, he said thef
iota IC
amounted to that large sum.
The GOVERNOR-Not quite.
Mr. De WINTON-Well, they had not only that, bui,
a very large unemployed capital in unemployed notes
about 13000,000/. That presented a fair ground for
calling upon the Governor and directors to el;
ploy a portion of the unemployed capital for the benreo
of the proprietors. It might be employed after titt.
manner of private and joint-stock banks and billbroker%
without fixing either a minimum or maximum rate
0:5
discount, in discounting bills, according to their nature
and goodness. Ho thought money ought to be lent °'
Consols, Exchequer-bills, and other Government sec!:
rities, and also on debentures in some railways of tut
highest character.-(" Oh," and " No.") He did nOw
wish to trench upon their 3,000,000/, rest until they kne f
what the Government intended to do on the tat 0_
August, 1855, when notice might be given to terminate
the Bank's charter. It such notice were received the G°l;
vernment would have to pay them 11,015,100/. icki°
they lent to the country at 3 per cent. It was robins
extraordinary that though the Bank had so fassY t,
vantages, it did not realise more than 4 per gent,,
whereas joint-stock banks yielded as much as 6 anueee ;
per cent. He did not find fault with the directors, '1
cause, as he said before, they were trammeled by
004
forms and regulations. It was impossible to ha Thomson :;
able man at the head of their affairs than Mr.,,eAe ,:
Hankey, and he was sure no ono was more disposecihauld'it .;t,
that gentleman to give a larger dividend if he
f' the r"
in his power. The rumoured redundancy a °
__ea 0
precious metals in the country had created a bogiler
.. f,
sensation.-(Hear, hear.) He had been
for sixty years, and he spoke from long dundaneY
,;1
when he said he believed there would be noire eh.) The .-
of gold until the whole world was full.-(Aleub Africa, ;
resources of the greater part of Europe, Asia,e , 03'01
and Australia, had yet to be developed; 00 l'ehie world
depend upon it that any redundancy of gold in t There"' 3(
would be used for that purpose sooner or latirr'ii,ted in
experience
fore, if too great an accumulation of gob, ehe found', •
England, a field for its employment would soon
rodnet °I
Gold might now be treated like cotton as a P
to with
America, and if that country could not suPPlYwould di- -
gold the exportation of British manufactures
e_ the fp
minish. He considered the great use of gold te e;'atten of ~
cility it afforded for circulation and for the regll'e,sdo to
exchanges. He hoped no attempt would be 17.0untry
tamper with the currency, for he believed the u lop. s
would not be satisfied with a less sum than 31. 7'
for an ounce of gold.
Mr. COOKE congratulated the proprietors on th© r°
beenPßet:
perity of the bank. That prosperity had not a
Lseeney •:
tained by means of commercial distress, or capital
panic, but by judiciously employing their large ur
for legitimate purposes.
The resolution was then put and carried.
: the
A PROPRIETOR remarked that the rest included.a , to
securities held by the Bank, and he should be glad n,__ir
know if they had been calculated according to
the
market or their cost price? e the Ban
The GOVERNOR said it was the practice o.
bear.)
to value the securities at the cost price.-(Hear, d est
He had now to inform the Court that as the dividen ld
ceeded that which was paid last half year, it
and
ssr
necessary to go to a ballet on the proposition; .
air,
(Islear.)
to the 23d inst., at 11 o'clock in the forenoon:put,
was that purpose he should move that the court be adjour o
Mr. DE WINTON, before that motion
•was
n:
been published since
claimed stock or dividends had
glad o know when another
desirous of asking a question. No publication of u
1843, and ho should be leet,(tlear, hear.)
publication was likely to be
Munclatmed dividends were
The GOVERNOR
publiahed in Consequence of the
fixed time. They were formerly puelialiedsaatiidceert tails intervals, but without aril
üblished at intervals of seven or
that they should he P . r 1835 one of h' ors ,;
passing of an Not of Prarliament in 1816, which required
k that the publication shouldtake lane '
p , _
consequenfcecoolo; ...,,i,
eight years; but in the se se , is predecess
in office uncle
annually' Hretellmlire.vredatftihseant
in
nas
thine
question put t
of the Bank at a ;4
moue, who was Governor House 43 the •1
and subsequently a statement of the unclii.ner ~1
time,stock and dividends was published annually for seven °
eight cons( cutive y ears down to 1843. About that tiniec°°; ,:s,
sieerable frauds took place in the Batik by parties wb
were connected with the Fletcher forgeries, and in ce°„s,,e;
quence of that transaction and others of a similar oayi;d .f
it was not expedient to continue the system wheicehe one "r
prevailed up to that period. It was felt that se:e; rola-
any protection to the public in giving '•°•°r 'on
Lion to parties who might not require it, the
affording
by
led to a practice of
extortion which was gOt lifi!rcte
individuals, who were but one degree removed
oder--
common swindlers, and who were in the habit of 11,, for
taking to recover unclaimed stock and dividennanon
those who might happen to have a title to the r
rpc,overeci
their being presented with a large share of the re C° de,
property, or receiving in advance a substantial o
anl'rd,
publicate
ration. So far, therefore, from the publicatio!i
_mils': is
ing the public any protection or information, it 7ortioa
point of fact, a serious injury to the honest ye ova
of mankind ; and it wass discontinued, upoStns in-
derstanding that the authorities of the Bank, _cc:, to
deed they were, would be always
,7_ll,tios
afford everybody, and anybody, every possible int..r,deoda
t i'n their power upon the subject of unclaimed s_i_vol ones
and stock. For this purpose the Chief A?o_°uneelicl
office' of the Bank was at all times open to. Governor
and
and .if that source of inquiry failed, thsu t•iply the
was edways happy and ready to P eeseer•
public ,'s ith every species of information in hisfronds
ern eeo;
In conses'enerinn,
of Parliassi eat was passed, at the instance f his
rlthe
censor, of the previous for.
.0,58 'PresJe
eneble- e
cessor, Mr , Cotton, when in the chair, which
.a on tbi,
Governme tie to give all necessary intormatio_■ 'teed and
a that le
Act it was propose-, 4,0
by the pre erisions of that
,hed in
with
matter, thi sough the agency of the Bank of Engine , t
could be made t it
Bank where' searches and inquiriesdnde
and
stock, but ie
distinct d. e pertinent should be established
reference to. the unclaimed dtvie
to put that Acimt,
rested enti rely with the Government
force, as it Comp
had no control vtllsioce,
The Bank of England, now ejapseisese oi
having
over it, bu I a sufficient interval
w.as not a o
the Court of Directors Yid' be
it was pal eeei into a• aw,
be done, 11°01ar
p lsory but a perruissiveteyer
something ought now to .
‘ee
.•
opinion tl eat .
with ."'dopaet
ost happy to communicate
should b. 3 m The ,f th
er on the subject.
cellor oft he Exchequ .
h the authoritY Leese;
meat cool i only be establish* d wit
tee ite "P` the
who would have to guano . e_
~.
Governmi frtt,
the proprietors tnliiterf 1
and he could assure
really n° fret°
Court e if Directors had, •
s information isi(eed
whatever in withholding
_tni
ears the tivconitt3ir
the public, , for, at the end of tett'
ryred to the C spa -f
dividends t ir td strck were trahnes t_.....ational Debt ;tit
boo,
he Reduction of t Di
stoners for t, fterwards brengoe of a
of the sum were a Leeeetiatt
er, in
any portion'
upon the sii""eeeeeree sees
into the Bat k accounts,
I order of the -e r the es`" a
claim, it was only done )y .-501 oe-
one of the Commissioners
t throng°
his capacity, a 4 1 Debt and no le air
duction of the Nation(' ,
high,/
n the house.
that he held i
the ex dentition Was
Put nor
Mr. DE W INToN said 1
P- Or
was then over-
tlsfectory.
for the ajourninr-nta te the g
The moon
,hich thaeks were v ie
carried, afters ce . e e,,., terns •
easted
ind the pro Laub
1 and directors. I