The Sun.
London, England, 1852-10-15 00:00:00

LONDON, FRIDAY EV ENING, OCTOBER 15,

on her entire registered tonnage, from which if in ballast
only they aro exempt, at a time when the exportation
of the staple reticles of commerce is forbidden, impedes
that of minor articles, and the result of the two last
enactthents is, that ships leave this port with ballast of
a description iejurious to .heir construction and safety,
while fine timber has been seen fl)eting down to the sea
unheeded. Let us now turn our attentOn to the nature
and effects of the prize seizure.•
" As the Government on shore consider it necessary
for the public service to seize all timber for their use,
whether the same be owned by friends or foes, and the
prospect of recompense, for it is certainly distant and
improbable, it has given rise to great inconvenience
and dissatisfaction.
" The commodore has likewise taken the step of ap-
propriating the cutch, cotton, and grain brought here by
the native boats, whose owners were under the impres-
sion they would be protected, and allowed to dispose of
their property for their own advantage. Under the
same order the rice is being exported, and it is under-
stood that the petty proceeds will be applied for prize
money. These two acts are universally pronounced to
be in violation of the proclamation wieh regard to the
trade of this place, which was a short limo since pro-
mulgated, and cases of great hardship have in conse-
quence occurred to people who have been our partisans
on the rivers. We regret the unavoidable cyclusion to
which these circumstances lead, viz., to want of confi-
dence, the alienation of the natives from our cause, de-
cline in trade and in the consumption of British im-
portations, the impoverishment of all classes, and the
condemnation hereafter of measures productive of results
SO disastrous and so difficult to retrieve."

consequence of the great demand for shares the capital
was afterwards fixed at. 52,1 lakhs, and this is too large
in proportion to the liabilities. The average total
liabilities is only 56: lalths, and it is generally considered
that the paid-up eepil of a hank should be about. Gao-
lbird the amount of the tntrl liabi;iti(s. Judgittfx, there-
fore, by this stendard, the capital of the Bank of Bombay
should be only niaeteen laleLs, but the directors now
propose to reduce it to rupees 26,12,500, being one-half
the present amount.
By order of the Board of Directors,
JOHN STUART, SCCITta7 and Treasurer.
Bank of Bombay, Sept. 2, 1852.
The following propositions were then brought for-
ward:—

Proposed by J. WARDEN, Esq.; seconded by Colonel
WADDINGTON, C.B.:—" That, an upplicw,ior_ mado to
the Goverurro-nt. for a modification of tfie pres-?nt charter,
as sp,citled in the report now read to the rc;seting."—
Carried unenimously.
A slight conversational discussion hero took place
principally between Messrs. Warden, Le Nlessi.'rier, and
mot:Jr.

Proposed by A. S. LE MESSUBIER, Eeq., scgonded by
Dr. M.'LENNAN :—" Tot the thanks of this meeting
bo off red to the directors for bringing the state of the
bank to the notice of the proprietors, and for their very
clear report."—Carried un,nimouslw.
The Chairmen returned thanks on behalf of himself
and his brother directors, in a neat and appropriate
speech.
Great unanimity prevailed throughout the proceed-
ings, and the meeting separated shortly
after twelve
o'clock.

I enclose you the report of a meeting of the
shareholders of the Bombay B3nk, summoned to
consider and sanction some very important altera-

Casualties by death in the armies of India since
:he departure of the mail o❑ the Ist of September:—
Her Majesty's Troops—Ensign P. APPilerson, B'h
fling's, tit sea, on board the ship Lferefurd,shire, on the
lst of April.

tions in their constitution. Before .the bank was
allowed to commence business in 1840 the whole
capital of half a million and upwards (Rs. 52,25,000)
required to be paid up ; nearly the whole of this
was invested in Government Securities, the restric-

Madras—Mojor C. 0. Fothergill, Ist N. V. Batta-
lion, at Cudderlore, on the 26th of August.
Bengal—Lieutenant H. Russell, 7th Regiment, N. 1.,
at Ferczepore, on the 21st ult,, Major H. C. Boileau, 28th
N. 1., at Dinapore. on the 22d ult.
BOMBAY MARKETS.
(From the Telegraph and Courier.)
BOMBAY, SEPT. 15.—There has been a considerable
amount of business transacted in piece goods since the
departure of the last mail, but we regret to state that
owing to the large stccks held, prices have not improved,
and we look for no permanent rise in the value of im-
ports till after the Dowallee holidays, which commence
on the 10th of November.
THE BOMBAY MONEY MARKET.
There is still a vast amount of unemployed capital in
Bombay, and little or no demand for money. At the
opening of the fair season the banks usually raise their
rates, but this year the operation has been reversed for
the first time within the last twelve years. On the 26th
of August the Bank of Bombay lowered their rates one
per cent., and were followed, as a matter of course, by
the minor establishments. Advances are now being made
on the security of Government paper at three per cent.
per annum, on loans for three months. Government
and private bills are done at three and five per cent, re-
spectively; and large amounts at even a lower figure.
A few lakhs are being exported to Ceylon and the coast,
but our imports of bullion have far exceeded exports for
some time past. Actual monetary transactions are very
limited; our money market is extremely dull for the
season of the year, and likely to continue so.
Government Securities remained stationary during the
past fortnight, until the close of last week: within the
last four days the Company's Four per Cents, have ad•
vanced from 92 to 921, and are now hardly procurable
at the latter figure. A further and considerable rise in
elpheeerieallyof the notes
being no outlet
the price of paper
is
sf tehxipsecloteadn.,
issued in 1835 36,
for money, Government securities of all descriptions are
firm at our quotations.
Bank Stock is in fair demand, and commands very fair
premiums, as will be seen by our quotations. Since our
last report the Bank of Bombs), has made an important
move iu the right direction, as will be seen by the
directors' report, which we publish elsewhere. It is to
be regretted that the original founders of the bank ever
accepted of a charter trammelled with such restrictions
as the then Government of India and Court of Directors
saw fit at that time to impose. Those restrictions will
now, no doubt, be removed, to, the infinite satisfaction
and mutual benefit of all parties concerned.
EXCHANGE.—The unaccountable proceedings of the
East India Company in regard to their Exchange opera-
tions, have been severely felt throughout the whole of
India. We were just in the midst of the disorganization
into which their lowering a penny in the rupee, or nearly
4 per cent., on the 10th July, had thrown us, when, to
the consternation and disgust of the whole Indian er-
cantile community, the second July mail brought us
word that the Exchange had again been raised to 2s.
Some of our contemporaries suspect that there has been
a good deal of method in this madness; and that some
parties at home have had more than their fair Aare of
-profit by those speculations. If the Manchester Asso-
ciation could procure and publish a list of the names of
parties who purchased bills from the 10th to the 24th of
July inclusive, they may by this means be able to esta-
blish grounds for a strong representation to her Ilajesty's
Government. Here, no merchant or banking establish-
ment can calculate with any degree of certainty upou the
issue of their transactions with England. If the East
India Company are to continuo to rule the exchange
operations of India, they should be compelled to base
their operations upon sound mercantile principles. As
matters now stand we are at the entire mercy of a system
of jobbery which wo trust ere long will be put a final
stop to.
Freights—There are, we hear, vessels in harbour
averaging 10,000 tons disengaged, and as there is a scarcity
of exports, freights continue levy. e,
e'er qaotations are
2/. ss. to Liverpool, and 2/. 10s. to London, To China
we cannot quote higher than rupees 6a to 7 per candy.
Grey shirtings..4o-ineh, maintain their value; indeed
the lighter
e
tent of 2 toq3uaalnless p,ri'ee. About 8,000 pieces of
haven improved in value to the ex-
71b. cloth have been sold at Rs. 4 1 to 113. 4 2; 45-inch
cloth has not changed in value, and the Wes we observe
amount to about 9,000 pieces at Rs. 4 7 to Re. 6 9.
Grey Long Cloths, 40-inch—We regret to say tnat
the market for this article is very dull. 15,000 Pieces
have been sold at Re 3 14 to Rs. 6 2, the former at 81b.,
and the latter price indicating a 134 lbs. cloth.
GryT.c
low
cloths have been sold to a large extent at
formerly' very and unremunerating rates. Abouter
20,000 pieces have been sold at Rs. 2/ to Rs. ai p
piece.
traGnsraecytiponen!
esitoje( pieces,s)—lri these we have heard of very few
6700
bbv ~
y336,,ahtaitve,.
5t
been. sold at
Rs. 14, and 1,000 pieces,
Grey madapollares are in rather better request; 3,000
pieces of 30 and 32 inches have been disposed of
at the
low rates of Rs. 1 to Rs. 271 per piece.
Grey jaconets of the interior qualities have rather
elated in priee. 25.000 pieces 40-inch have been
improved in value, but the finer descriptions have de-
R. 1 2.-41 to Rs. 1 14, and 1,000 pieces of 45
deen disposed of at Rs. 1 14 per piece.
price, Grey drills and twills have declined in .ineshohldavaet
e, but the
few sales made are not worth reporting.
Bleached shirtings and madapollams are somewhat
scarce, and their value has improved to the extent of 2
to 3 amis.
Bleached cambrics have been sold to a limited extent,
at from Rs. 2to Rs. 3 e piece.
Bleached jacconets, although they have improved in
value, are still sold at a lois, but we think that an ad-
vance may be yet secured.
Bleaet rd Lappets-1,000 pieces 10 by 40 have been
disposed of at Rs 1 10 to Rs. 3 10.
In other descriptions of bleached goods we hear of
very few transactions.
In coloured goods we have no sales to describe.
Cotton Ya.ru—ln twist the sales during the fortnight
have been very limited, and price; have receded. 360
bales water and 3t) bales mule yarn have been sold at
our quotations. In coloured yarn we have heard of no
sales.

tions of the charter depriving them of more profitable
business. The bank has occasionally held 400,0001.
of Government Stock , at present they hold above
320,000/. Government now urge them to reduce the
amount of this to 260,0001., or half their capital ; but
the bank is at a loss in this case how to dispose of the
funds thrown into their hands. Their average rate of
profits, in excess of Government interest, has been
about 3 per cent. ; their average circulation of notes
about 250,000/. ; their maximum 650,0001., though
the charter authorises them to issue two crores. The
bank, under these circumstances, desires to have the
privilege of issue curtailed to a million, and to be
permitted to issue another in the shape of bills of ex-
change payable in any quarter of the world. Should
this be declined, the directors recommend that the
capital be reduced by one-half—shares of 1001. being
henceforth worth 501.—the difference to be paid back
to the shareholders. These propositions are all most
important, and deserving of the most minute and ma-
ture consideration.

SPECIAL MEETING OF THE PROPRIETORS
OF THE BANK OF BOMBAY.
A special general meeting of the proprietors of the
Bank of Bombay was held on the 2sl inst., pursuant to
notice, at eleven o'clock in the forenoon, at the bank
premises, in Rampart-row.
The following gentlemen were present on the occa-
sion:—J. R. Hadow, Esq., vice-president of the board,
in the chair; Major Swanson, Manockjee Linjee,
A. Rimington, Esq., and J. Hunter, Esq., directors; J.
Warden, Esq., Bomanjee Framjee Cama, Esq., Colonel
Waddington, Dossabhoy Framjee, Esq., Captain Cruick-
shank, W. Acland, Esq., A. S. Le M.essurter, Esq., Dr.
Maclennan, Captain Crawford, and Major Davidson;
comprising almost all the European shareholders resi-
dent in Bombay.
Mr. STITART, secretary to the Bank, read the notice
calling the meeting, as also the section of the charter
under which it was convened; and then proceeded to
read the following report:—
Report of the Directors of the Bank of Bombay, sub-
mitted at a special general meeting of the proprietors
generalm e
held on Thursday, the 2d day of September, 1852, at
tln
eleven o'clock
a in the forenoon.etn
g
calling
of the proprietors so
soon after the usual annual meeting, when the statements
of the affairs of the bank made up to 30th June last were
submitted, the directors are most anxious to place be-
fore them the following summaries of the operations of
the bank from its commencement in 1840, with the
view that the opinions of the shareholders may be taken
as to the advisability of an application to Government
for a modification of the present Charter, Act 111. of 1840.
2. As the whole of the capital of Rupees 52,25,000
was required to be paid up before the Bank was allowed
to commence business in 1840, the directors were unable
to find profitable employment for it in the description of
business allowed to be transacted under the charter, and
therefore invested nearly the whole amount in Govern-
ment Securities, and although a considerable portion of
these securitses have since been realised, the average
amount hold by the bank has been forty lakhs of rupees
(40,00,000), the present amount is nearly thirty-two
lakhs (32,00,000), and the Government urge upon the
directors the necessity of reducing this amount to at
least twenty-six 1akh5(26,00,000), or one-half the amount
of the capital.
3. The directors still experience great difficulty in
finding profitable employment for the large amount of
funds pi: ced at their disposal, and they are of opinion
that some of the restrictions imposed upon the bank
under the present charter may with great advantage bo
modified, so as to render the bank more useful to the
public, and profitable to the shareholders, without in the
least billeting its present stability.
4. The average rate of profit realised on banking
operations sines 1810 (exclusive of all profit cn invest-
nyfrits in Government Securities) is little more than
three per cent. per annum on the whole paid-up capital.
5. Under 'he present charter the bank is allowed to
issue bank-notes payable on demand to the extent of
two crores of rupees (2,00,00,000) and the directors
now propose to the proprietors that this credit should
be divided into two equal parts, one for the issue of
notes payable on demand, and the other for the issue of
bills of exchange payable either in India or elsewhere,
and for this purpose they submit that an application
should be made to Government for a modification of the
present charter, particularly with reference to 32d
section, and that the prohibition limiting the bank to
buying and selling bills of exchange payable in India
only should be rescinded, and that the bank be allowed
to deal in bills of exchange payable in England or else-
where.
6. If the Government will grant this request the bank
will agree to give up the privilege of issuing notes to the
extent of two crores, and limit its issue of notes payable
on demand to one erore, and in order to insure to the
public the most perfect security for the payment of the
notes, the bank will further agree that the whole amount
of capital raised by the issue of notes will be employed
in granting advances on deposit of Government Secu-
rities, discounting Government bills, or invested in Go-
vernment Securities, and at all times the bank will hold
a reserve in cash equal to one-fourth of the total amount
of notes in circulation, as provided for under section 26
of the present charter.
7. The largest amount of'notcs the bank ever had in
circulation wits 63i lakhs in December, 1843, but the
average circulation, as shown in the annexed statement,
is only 35 lakhs, and it is believed, from the result of the
last twelve years' experience, that an authorised circula-
tion of one crore of rupees will be amply sufficient to
supply all the wants of the community, but if not, the
bank may be allowed to issue notes to excess of one
crore on deposit of cash equal to the excess of issue, on
the same principle as regulates the issue of notes by the
banks in England in excess of their authorised circu-
lation.
8. With reference to the bank being allowed to buy
and sell bills of exchange payable beyond the limits of
India, the directors propose that never more than one-
half of the present paid-up capital will be employed in
these operations, and that the total liabilities on such
bills of exchange will not at any time exceed one crore
rupees, being equal to the other half of the credit allowed
the bank under the present charter, and that no bill will
have a longer term to run than six months after sight.
9. The directors understand that her Majesty's Go-
vernment has granted Royal Charters for the incorpora-
tion of banks of issue in the colonies on similar princi-
ples, and hitherto no inconvenience has been experienced
in allowing these banks to issue notes payable on de-
mand in cash at the place of issue, and bills of exchange
payable in England.
10. Another modification the directors propose is that
the bank may be allowed to advance money on the se-
curity of the shares of any of the chartered banks of
India, and on the shares of any of the Indian railway
companies upon which the interest is guaranteed by the
Government; and also on the security of bills of lading
and shipping documents of goods in transit and con-
signed to Bombay, and that the clauses in the 27th and
28th sections of the charter prohibiting this description
of business be rescinded.
11. Under the present charter two general meetings
of the proprietors are held in each year, one on the first
Monday in August (under section 36), for the purpose
of receiving from the directors a statement of the affairs
of the bank made up to the 30th June, and the other on
the second Monday in December, under section 13, for
the purpose of electing two directors. It is now pro-
posed that only one meeting be held in each year on the
second Thursday in February, and that the accounts be
submitted made up to 31st December, and the two di-
rectors be elected at the same meeting.
12. In the event of the directors not being able to ob-
tain any modification of the charter with reference to
issuing bills of exchange payable beyond the limits of
India, they are most reluctantly compelled to propose
that one-halt of the present paid-up capital should be
returned to the proprietors, and that the shares be re-
duced from Rs. 1,000 to Rs. 500 each.
13. The authorised circulation of notes to the extent
of two crores of rupees, allowed under the present char-
ter, will also re quire to be reduced to one crore, an
amount as shown in the annexed statement to be amply
s ufficient.f or the trade of Bombay; but if not, the bank
may
the de obneullowed to issue notes in t xcess of one crore on
14. _tams stated in the 7th paragraph as above.
The average rate of dividend paid by the bank
since 1840 iw 63
ene-hat', the per cent., but had the capital been only
next d ratestatetnentshwould be 9 9-11 per cent., as per an-
Year, and the rate
eteing the et profit realized in each
cent, of that profitt
oonf dividend paid, also the rate per
amount, after deducting a capital of one-half the present
and 5 per cent. on thatinte.rest at the rate of 4 per cent.
!I oert ot 'roan of the capital proposed to
be returned to the prop
15. In the original prospect.
in ..1836, it was ei,timateci i,hat us of the bank, published
a
Wills of rupees would be amplypaid-up capital of thirty
suk commenced with thia capital,
sufficient,
ent, and had the
much higher rate of dividend than would have paid a
it has done, but in

Metals—Very little has been done in these since the
last mail left.
Copper has been neglected, but at our quotation
prices are firm.
Iron has main advanced 2 Rs. per candy in price.
130 tons English bar have been sold at Its. 251 ; 130
candies square nail rod, at 23 Rs. ; 700 cal sheet, at
Rs. 41 per cwt. ; 1,200 cwt. hoop, at Rs. 4. Our
quotations for other descriptions of metals will be found
below,

Cochineal-200 lbs. have been sold at Rs. 2 4.
Saffron-175 lbs. have changed bands at Rs. 13i
per lb.
Beer—There is none of Allsopp's and Bass's in the
market.
Cotton—There is very Halo now for sale, and what
is now in the market is of inferior quality. The new
cotton is arriving very slowly, and the purchases which
have been made are at the rates quoted below.
In other articles of produce we have nothing to note.

1852,

of air, but has returned in slightly improved health. Mr. Gonwata briefly returned thanks, and declared
The weather has Ipeen cool and agreeable, generally that his pen was always at the service of the institution.
)10 of Brighton, and establish a local
speaking; the therms dieter, on two days only, the —(Hear, hear) They ought not to relax in their ex•
9th and 10th, ranging as high as 90 deg. On the el r‘tions until they they had seen every town in England foI-
cwinS:tHAIRMAN afterwards ~ave " The ice•PT,as„idTehnet
llth the barometer was as low as 29 deg. 48 min.,
branch ( 6 axea:ar sr)
and Trustees," " Tee
the Stewardsisa.:i
v i
tai
ensd
wDeirrVee
kept a
up
with threatening appearances; followed, for several The a,
days, with heavy rain. This, from reports received,
greatly enhanced by
appears to have been in connexion with heavy weather Ladies," and several other toasts, which were all drunk
experienced about Amoy, and further to the east- with due honours, and
with
ward of us. great spirit until past ten o'clock.
Last month we gave the total number of sick in The hilarity of the evening wan
garrison as 90 ; this month there is a reduction of 67 the musical arrangements of Mr. E.
Day, an amateur
(against 84 at same period last year). Of deaths, and builder, who was assisted in " his efforts to please,"
by Miss Rose, Miss Caroline Felton, Mr. D E. utch
since last report, we hear of three only—a gun Las-
car and a Ceylon Rifleman of Beriberi, and another
feeling.d ny of the songs
of the Ceylon Rifle corps, of disease of the lungs. The Mr. Henry Perhcy:
muchandMr Morley. Ma . D.
8 --'
ability as to com-
mwearnedgeinveeonrewsitancionitogethr the music may be said to
hospital list stood yesterday as follows :—Her Maj:s-
ty's 59th Regiment, 48 ; Ordnance Department, 8 i , 1 admirable.
have beer,
a 1 Th G '
Ceylon Rifle Regiment, 11. sell, E-q , F S.A., Stephen Bird, Dq , George Powell,
Amongst th,se present we o serve( orass na.
Dq., G. Spencer Smith, EN., 11. Ekendall, jun., Esq.,
George Godwin, Esq., Messrs. Locke and Nesham,
Messrs. hunt and Si phenson, W. J. Gardiner, Esq.,
Thomas Piper, jun., Eq., S. J. Stephens, Dq., Robert
Forest, Dq., T. Iyerman, Esq., Mr. George
Bird, the treasurer ; Messrs. Joseph Bird, J.
Higgs, J. Seward, jun., nomas CQZ'D, R. Watts, jar..,
J. Newson, jun., G. Head, W. Hutchins, William Bee.d-
harn, chairman of the Brighton branch cf the institution;
G. Grayson, R. K. Burstal!, &e.
Tho secretary, Mr. Alfred George Harris, read the
list of subscriptions, which amounted to between 700/.
and 800/. The following are some of the principal sub-
scribers:—Samuel Morton Peto, Esq., 200/., and an an-
nual subscription of 251.; Mtssrs. Peto and Betts, 50/.;
J. Wilson, Esq., 211.; Thomas Piper, jun, Esq., Si. 59.;
Charles llam, Esq., 10/. 10s.; Robert Forest, Esq., 21/.;
Peter R-dr, Esq., M.P., 51. 55.; Messrs. Locke and Nes-
ham, 21/ ' • Thomas Jackson, Esq., 21/.; Messrs. Collins
and Stanbury, 10/.103.; Henry Joll, Esq., Si. 55.; Wil-
liam :Cubitt, Esq , M.P., 101. 10s. ; George Bird, Esq.,
5/, 55.; W. Lce, Esq., 51 55.; George Powell, Esq., Si. 55.;
F. Nugee, Esq., 54 5.; John Kelk, Esq., 10/. 10s.; Charles
Dixon, Esq., 10/. 10s.; George Myers, Esq., 10/. 10s. ;
Mr. G. Grayson, Si. 55.; Mr. R. K. Burstall, 51. ss.
Mr. Higgs was toast-master, and he performed the
duties of his office with his usual efficiency, now and then
lustily reminding the company that the toasts were to
be drunk in " Bumpers and no daylight."

SHANGHAE MARKET REPORT.
The sales of English cotton goods had been very large
throughout the month, and a fair amount of business had
been done in American manufactures. The sales of all
these, together with the proceeds of the drug disposed of,
had not sufficed to pay for the heavy transactions in raw
silk, which, in the two opening months of the season, had
amounted in value to three-and-a-half millions of dollars,
or 12,500 bales. Upwards of 7,000 bales had already been
shipped off:
CANTON MARKET REPORT.

There has been a larger business done in long cloths
and yarn during the past month than in any late pre-
vious one. The clearances in both have been consider-
able. The activity has somewhat lulled daring the past
few days, owinc, to a scarcity of money amongst the
Chinese, which' bas cued the rate of interest to ad-
vance about half per cent. per month. This has pre-
vented dealers from entering upon any speculative pur-
chases.

THE BUILDERS' BENEVOLENT
INSTITUTION.
The anniversary dinner of the Builders' Benevolent
Institution was held yesterday evening at the London
Tavern, Bishopsgate-street, Samuel Morton Peto, Esq.,
M.P., President of the Institution, in the chair. There
was an exceedingly numerous attendance of the friends
and supporters of the institution, and amongst the gen-
tlemen who occupied the chairman's table we observed
the principal builders and contractors of the metropolis.
After ample justice had been done to a very excellent
dinner, embracing all the delicacies of the season,
The CHAIRMAN said he was glad to see so numerous
an assemblage around him. He could assure them that
ho was by no means disloyal, although the day previ-
ously he received through the Lord Chamberlain her
Majesty's special summons to be at Bangor
to-day, as chairman of the Chester and Holyhead
Railway Company, to attend her Majesty's inspection of
Mr. Robert Stephenson'e tubular bridge, but finding
that his keeping such an engagement would have pre-
vented his being present to-night, ho felt it to be his
duty to return a respectful message back, stating that
he had made a previous promise to this institution,
which it was impossible for him to forego.—(Cheers.)
He had now to propose to them, with heart and soul,
the health of " Her Majesty the Queen, God bless
her."— (Chsers.)
The toast was drunk with honours.
The CEAIRMIN text gave them the health of his
Royal Highness Prince Albert, and the other branches
of the Royal Family, which was also responded to in
bumpers.
The CHAIRUAN said the next toast he had to propose
for their consideration was more immediately connected
with tee object of their meeting.—(Hear, hear.) As he
had tie pleasure of seeing around him a large number
of p'actical men of business, accustomed by their every
day habits to matters of detail, he was sure they would
excise him if, before he said anything in furtherance
of she toast he had to propose, he gave them a few de-
tails respecting the rise and progress of the institution.—
(Rear, hear.) He should tell them that this society was
established iu 1847, and that the number of pensioners
DOW on its books was fifteen; while they had unsuc-
cessful candidates at the last election in 1851, besides
others who had applied for assistance since.—(Hear.)
The funded stock of the institution amounted to
2,8501,, and the number of annual subscribers was 790,
giving a total income from both these sources of 5601. per
annum.—(Cheers.) He bad also to advert with pleasure
to the success of the Brighton branch, which had sent in
annual subscription amounting to 55/. 13s , which when
added to the donations collected by the branch, made a
total of 761. 13s.—(Cheers.) So much, then, for practi-
cal details. Give him leave now to state that many of
the unsuccessful candidates to whom he had made re-
ference were known to himself, and once they were like
themselves, in a state of affluence and comfort.—(Hear,
hear.) Those who were now the recipients of their
bounty he had known from his earliest youth, and he
honoured them none the less at the present moment be-
cause it bad pleased Divine Providence to reduce their
prosperity.—(Hear, bear.) They ought, indeed, to con-
sider it an honour to themselves to be able to minister
to their comfort and support, but he had the gratifica-
tion of recognising many there with whom
be had long been associated and he was sure so long
as they were allowed all that was necessary for domestic
happiness, they would never forget the claims which this
institution had to their sympathy and support.—(Cheers.)
Placed as they all were in a position of effluence, as it
were, could anything be more pleasurable or more de-
lightful than to recognise in the success of this institu-
tion the claim of their less fortunate brethren to succour
and help?—(Hear,) He felt then that he should not
appeal to them in vain to-night to place the institution
in such a situation as to be able shortly to relieve the
thirteen unsuccessful candidates at the last election, all
of whom they knew to be worthy of the assistance they
asked for and honourable members of the craft to
which they belonged.—(Cheers.) He would not say
more upon that head, but simply call upon them now to
drink to the bottom of their glasses " Prosperity to the
Builders', Benevolent Fund," and show by their determi-
nation that it should continue still to flourish.
The toast was drunk with the utmost enthusiasm.
The CHAIRMAN—The next toast he had to propose to
them had reference to the Brighton branch, of which he
had already made mention.—(dear, hear.) He had the
pleasure of seeing the chairman of that local branch at
his own table, and to satisfy those whom ho addressed
that no more fitting person could have been selected fur
that post, he need only mention to them that this gen-
tleman had also been elected high constable by the
people of Brighton.—(Cheers.) Ho had much pleasure
then in proposing to them " The Health of William
Beedham, Esq., the Chairman of the Brighton Branch."
The toast having been drank with honours,
Mr. WILLIAM BEI:Di:LAM returned thanks. Ile said the
compliment had unexpectedly come upon him, and it sa-
tisfied him that, small as the Brighton Branch was, it
had the sympathy of the parent institution.—((sear,
hear.) The Brighton Branch, it was true, was only a
Quick, but its members had full confidence in the Trunk,
and they hoped ere long to be able to develops) them-
selves into a Branch.—(Cheers and laughter.) Again
he begged to thank them fur the compliment they hal
paid him, and to assure them, on behalf of his Brighton
friends, that they should always be ready to co-operate
in the best way they could with the parent institu-
tion.—(Cheers.)
The CHAIRMAN next proposed " The Patrons of the
Institution," coupling with that toast the name of
Thomas Grissull, F.S.A., whom he pronounced to be a
good fellow, ever ready with a warm hand and a spark-
ling eye to assist his brother tradesmen in their strug-
gles through life.—(Cheers.)
The toast having been drunk with honours,
Mr. THOMAS GRISSELL returned thanks, and in doing
so ho took the opportunity of observing that it afforded
him and the other patrons of the institution extreme
pleasure to see that the institution was steadily progres-
sing in the estimation of the public, and he congratulated
the members in the choice they had made in electing the
chairman as president of the society.—(Cheers.) They
had now the best possible prospect before them, and he
seas confident that ere long the institution would rank
amongst the first in the country.—(Cheers.)
Mr. Tuomes PIPER proposed the health of the
chairman and president of the institution, and reminded
the company that it was not every gentleman who would
risk incurring the displeasure of this Sovereign for the
suite of assisting at the anniversary of an institution like
this. And yet ;their chairman and president had pre-
ferred attending there to going to Bangor, because he
felt ho had a great moral duty to perform towards those
who looked to him for relief in a timo of need.—
(Cheers.) The chairman had raised himself to the
elevated position that ho held in society by his own in-
dividual exertions; and if they could be allowed such a
choice, ho would be the very man whom they would se-
lect, to show the Legislature what a builder was.—
' (Cheers.) He welcomed the chairman as an embodi-
ment of all that was good ic the building community,
and he called upon them to drain their glasses to the
bottom in drinking his health.—(Cheers.)
The toast was drunk amidst repeated rounds of
cheering.
The CHAIRMAN hardly know how to thank them for
the warm and hearty manner in which they had drunk
•ng
his health, but this much he could say, that he attri-
buted all his success in life to an early course of traaini
warirtyh in the workshop, where he became acquainttee
those details which never failed to enable mearn
to
be
out great works.—(Cheers.) He hopedtnemv
ng to co-operate
dis-
severedlifewasfrtoomretmhaisinsoaciebtuyilidfeorr thtee gtrbeaetesenad
ebfitibonisoflihfeis;
and he should be ever ready and wil.lei
e en
cl
bmabde rusn
wwihtihchthtehemye They he
could w onrokt
all meet the same measure o
d
therefore it behoved those w
°el fe
undertaken.—(C
tilt" ks ne
ft(t iCteiueenecrets2
fortunate brethren.—(Hear.)
hem Di vi inn e business,
rovr
and happiness of their less
to be the crowning point
fiellea he wanted this anniversary.sh.n
the Builders' Benevolent
blessed with fortune to mafkoortpu ovision for the comfort
of the success in estabii
cu•e ss turned
t beyond the pivot upon
they had go
them for the manner in which
thankindt„
Institution—that the shr?ujldglie. V/ be able to say that
—and again
take the opportunity of repeating, Never let it
more
they had responded to. the last toast, be would once
-wiheers.)
he said that we have neglected those who are not equally
successful in business
The CHAIRMAN proposeth ourseld
the health of Mr. George
Bird, the ireastna r of ttse institution, and took occasion
to pass 11 e wastn eulogium upon the past exertions of that
gentleman.
- The toast having been duly responded to,
Mr. GEORGE BIRD returned thanks, and expressed a
hope that those retired members of the trade, who had
neglected to respond to his call for su;:ssciiptions, would
see in print the eloquent appeal which had been made to
them by the chairman to.night.l---(Hear, hear.)
The CHAIRMAN next peoposed success to " Archi-
tects and Surveyors," coupling with the toast, which was
honoured like the others, the name of G. Godwin, Esq.,
ZR.5., editor of the Butider.

SPORTING NOTES.

No. CCCXXVIII.

YESTERDAY'S RACING AT NEWMARKET,
WITH A GLANCE AT NEXT WEEK'S SPORT.
TO THE EDITOR OF THE SUN. _

SlR,—Wingenund, who, some twelve months since,
was considered to have a chance for the past Derby, was
yesterday defeated with such ease by Ben Nevis in the
race for the Cracow Stakes that 101 b. would not have
brought them together. This small mountain of horse-
flesh will give Mr. Batson a very good chance of winning
some of the sweet morsels next year.
For the 10 Soy& Sweepstakes over the T.Y.C. the
ring made sure that Lord W. Poulett's Guava was a cer-
tainty, and laid 2 to 1 on him against his field accordingly.
She went off with the lead, and kept it until half way up
the distance, when she had had enough of it; Luxurious
—who had been making a waiting race of it—then went
in front with Warbler in close attendance, the former
winning by half a length, and the latter beating Desde-
mono, for second place by a length. The crack was a
bad fourth and last.

The 10 Soya. Stakes over the first half of the Ab. M.
afforded the spectators a splendid race between three—
Cock Pheasant, Assault colt, and Azara filly—the
first named winning in the last stride by a neck; and the
Assault colt (who bad Butler up) only obtaining the
second place from the filly by a head. Longatock Lass,
Rage, Infidelity colt, and Admiral Tschitichekoff (tour
rips) were beaten early.
Lapidist has at last come out as a winner, having
made all the running and won the 10 Sovs. Sweepstakes
over the first half of the Ab. M. by half a length; Gold
Dust just beating Old Rowley a head for second place.
From this running wo must naturally deduce the fact
that Lapidist is only suited to short distances.
Khadidja gave nine pounds (and could have made it
fifteen) and a beating to Mary Ann in the 10 Soya.
Sweepstakes. D.M.
The Bretby Stakes did not come off in favour of the
one I selected. It seems the stable accounts concerning
her (Rosalind filly) were drawn in a much too favour-
able light, as the gentle rise at the finish completely
settled her; she, however, in conjunction with Sylphine,
cut out the work to the bushes, and, after lying in front
to the cords, retired. Glenavon came with a rush a few
yards from the chair, and beat Osbaldeston's half pre-
pared filly by a neck; Miss Tennyson winning the third
place.
_

The 1001. Plato over the Flat► was carried off very
cleverly by Lord Chesterfield's Gladiole, 5 yrs, 6st 101 b,
by a length; Garforth, 5 yrs, Bst 21b, beating Beauclerc,
aged, 7st 71b, by a couple of lengths for second place,
Vivandiere, 4 yrs, 6st 101 b, finishing an indifferent
fourth.

Belgravia, met with a severe accident yesterday, and,
it is supposed, will have to be destroyed.
The Filbert case of hocussing, it is now thought, was
a pure invention of the stable lad'o, who is now in cus-
tody on a charge of theft.
It seems that no less than 7001. of forfeits were paid
up to allow of the starting of Ninnyhammer for the
Bedford Stnlies.

Sir W. Booth has sold Anel to Mr. Elwes for
1,5001.; he goes into Stevens' stable; and, it is reported,
is to be tried with Longinus at level weights.
The meetings for next week number five—Pontypool
being marked for Monday and Tuesday; Pontefract
(with a tolerable bill of fare) for Monday; Holywell
Hunt (also with a well furnished card) for Tuesday and
Wednesday; Richmond, on Wednesday and Thursday;
and Lanark on Friday. The first and last named I know
little or nothicr. about, and have heard nothing positive
as yet, either of Pontefract or Ilely well ; but with re-
spect to Richmond, I understand that the Wright Stakes
will be appropriated by the owner of GOORKAII, Os-
borne's fillies being all that he fears.
It is not known what is meant, or likely to start, for
either the Easby Stakes or Richmond Handicap, al-
though it is reported that Miss &mime, will be there
for the latter ; if so, the race is as good as over.
Child of the Mist and Cyclops are understood to be
the animals for the Hat Stakes.

Ou Mocday or Tuesday I shall lay before my readers
all those scraps of information which have been collecting
during the present week, referring as to which are the
money horses, and which are to be placed on the hope-
',ess list for the Cambridgeshire.
I um. Sir, So.,
THE SPIRIT OF THE TURF.

Oct. 15.

SPORTING INTELLIGENCE.