The Sun.
London, England, 1852-01-14 00:00:00

BANKIIVG INSTITUTION.

Yesterday evening a monthly meeting of the subscri-
bers to this institution was held at their offices, 51,
Threadneedle-street; Mr. T. Hewat in the chair.

A brief report from the council, congratulating the
members upon the flourishing aspect of their affairs,
having been read and coufitmed,

Mr._
J. J. SHAW read a paper upon the law and prac-
tice relating to crossed cheques. He said the practice
was au extremely old one, and had been in connexion
with the clearing-house in Lombard-street for more than
u century. In proof of this fact he cited a great variety
of cases from law reports, where ections had arisen
upon creased cheques; and though the custom was
well known, it did not excite any remarks from the
judges before whom these cases were tried. In fact,
beyond the custom of the bankers to receive and pay
crossed cheques to the bankers with whose names they
were crossed, it did not appear that they were entitled to
refuse payment of a crossed cheque, no matter by whom
preseated,sif the answers were satisfactory. It was mest
important that a question affecting the monetary inte-
rests of such a largo commercial community as existed
in the metropolis should be settled at once by some defi-
nite legal authority. So far, however, from this being
the case, the bankers themselves were entirely divided
on the point as to whether a doubly or singly crossed
cheque was payable at once, or not at all. An imperteet
action was brought a short time since against 7leart
Coutts for having paid a crossed cheque for 9,000/:
This cheque was crossed with the Bank o: Eligian-d
further crossed by being made payable only to ts ' "d
This cheque t with the
count of the Accountant-General of the C "e
L
ourt of Chan-
cery. The solicitor to whom this cheque wasrtw easysrs. Coutts
entrusted,
however, erased the crossings and crossed i
whom
with by
names of his own bankers.
paid, and the money having been wade
the solicitor, the parties uu
convicting him, proceeded
against Messrs. Coutts
for paying a cheque crossed to tho Bank c f
England and payable only t
the Accountant-General of theo the account of
In the course of the trial M Court of Chancery.
and Barnett, and a number of Messrs, Bevan, Marshuil,
the various banks gave evidencethe leading accountants of
tsining that they would in the case, sense mele-
e. little caution, and ay
a twice crossed cheque with
all. It was necessary others that they would not pay it
come to. At Present ab that some fixed rule should be
refusing his „au= , anises. was liable to an action for
er a cheque, while if he paid it he
might risk its lose . altogether. He thought generally
as it prevented sang them was a very good one indeed,
anything like forgery on the banks.
Mr. GILBAR
T then briefly addressed the meeting,
pointing out the necessity which existed for some law
which would compel bankers to pay crossed chcques to
the parties to whom they were crossed and to no others.
The bankers were now in a position to demand a law of
this kind from
the Legislature, and they intended
doing so.

A. vote of thanks was passed to Mr. Shaw for his lec-
AITO OR the subject, and the meeting beparated.

At a meeting to promote the completion of the
Great Western Docks at Plymouth, held last week, a com-
ruittee was formed to procure subscriptions for the 6,000
guaranteed 5 per cent. shares of 101. each, which it had been
resolved to issue, and which, it was alleged, would, with the
amount authorised to be raised on debentures, fully suffice
fur the objects to be effected. The amount already ex-
pended was stated to be about 90,0001., and an offer had
been received to finish the undertaking for 78,004 Mr.
Braille, the deputy chairman of the Eastern steam Navi-
gation Company, attended and pointed out that unless the
docks were completed it would be impossible for his com-
pany to bring their vessels to Plymouth. He added also,
to show the necessity for immediate action on the part of
the town, if they would secure the advantages contemplated
that the tenders fur the second monthly mail to India and
China would be decided upon at the end of February next,
and that the com
tors had made on their own private responsibility, bad 147
luny, by arrangements which its direc-
ready nearly completed one vessel at Bristol, and had laid
down the keels and built the engines of seven others.
MELANCHOLY DEATH OF A LADY.—Mr. Waklev,
M.P., held an inquest on Monday, in the Chelsea work-
house, on Mrs. Frances Bean, aged 59,
late of Cameron-
square. Deceased went to pay a visit in Malcolm-square,
when she fell with such violence on the pavement as to
fcacture her skull, and almost instant death ensued. Veraot
Accidental Death.