The Sun.
London, England, 1863-03-19 00:00:00

COMMERCIAL INTELLIGENCE.

steady.

NEW YORK, MARCH 6 (Evening).
The excitement in the gold market continues,
and the tendency is still downward. A measure
will be introduced in the New York Legislature to
check speculation in gold. Gold is quoted at 52i.
Exchange on London bankers' bills 169. Stocks

inactive.. New York Centrals 116 i. Illinois 91,
Erie 76k.
Cotton depressed. Middling Upland 81.
Flour, Wheat, and corn depressed.

Provisions quiet.
Coffee rend sugar heavy.
NEW YORK. MARcEt 7 (Evening).
Exchange on London 170.
Cotton dull. Middling Upland 83 to 84c.
Flour heavy. Wheat quiet. Corn depressed.
Provisions dull.
Coffee quiet. Sugar, prices declining. Molasses

BANK OF ENGLAND.

HALF-YEARLY MEETING (THIS DAY).

The ordinary half-yearly general court of the governor
and company was held this day in the Bank Parlour.
Aifred Lathom, Esq., governor, preeided.
The GovEalloP. said he had to inform the court that
this was one of the general quarterly courts, appointed
by the 12th bye-law, for the making of a divi-
dend. The net profit for the half-year ending the
28th of February was £619,916, making the amount of
rest on that day £3,620,793. Attar providing for a dividend
at the rate of 44 per cent., the " rest" would amount to
£3,002,291. They therefore proposed that the half-year's
dividend of interest and profits on the 6th of April should
be 4± per cent. without deduction of income tax. He had
further to acquaint the court the dividend warrants would
Le declared and paid on the Oihuf
Mr. DrcxsoN moved a vote of thanks to the governor
and directors for the satisfactory statement just made, and
their uniform attention to the concerns of the bank.

Mr. LAWRENCE LEVY, in seconding the motion, said
that under present circumstances, the account made by the
governor was as favourable as could be anticipated. The
time he thought had arrived when many of the present re-
gulations and restrictions might be rescinded, with a view
to making the establishment beneficial to the proprietors
of bank stock, in fact to place it on the same
footing as surrounding establishments. It would be use-
less and unnecessary to contrast the dividends puid by the
Bank of England with those of other institutions, but
on the present occasion the fact was the mere startling
from the joint-stock banks having declared high dividends
at a time when money was scarce, whereas the dividend
declared by the Bank of England up to the end of
February embraced a period when they had the benefit
of money at 3,4, and 5 per cent. It struck him
also when they took into account that the present
dividend was declared upon only about 14 millions, and not
upon the " rest," the positive dividend paid upon tue capi•
tal by the Bank of England was only about per cent.
He ventured to think that this arose from a fixed and arbi-
trary minimum rate, for whether that sate was high or low
the Bank was immediatelt, undersold by the surround-

ing establishments. He thought it was well
worthy of consideration whether the directors could
net accept a lower rate than the present minimum.
He would also take the liberty of suggesting the propriet)
of the Bank of England lending on Colonial and A i
Foreign Securities, taking, however, every precaution, be-
cause he was quite certain the Bank could not avoid making
bad bills. During the last year he understood the Bank of
England had sustained losses upon bills which had been
refu ed by other banks, and now that they had lost £50,000
a year from the Government they ought to seek to increase
their profits in other ways. It struck him as an anomaly
that while it was stated last year that other stocks were
closed for only a few hours, the book for the B4nk Stock
should be shut for three weeks. He would also ask the
directors and proprietors to consider whether the Warder
which now existed to trustees voting should not be re-
moved, for trustees were generally selected by persons be-
cause they had confidence in them. Such barriers had been
removed in other establishments. Ho hoped, when they
net again, they should hear of a better dividend.
The trOVERNOR said there was a great difference between
the Bank of England and other banks, especially in the
amount of capital. It took a large amount of profit to make
a quarter per cent on se large a capital as fourteen mil-
lions, In other cases banks had not more than a million
of capital, and, in some instances, not mote than £eieo,ooo
or £600,000 paid up, On the subject of trustees voting, he
might remark that it was not in the power of the Bank to
allow them to do so. They could not be allowed to vote
without Parliament altered the existing law. With re
gard to advancing on foreign and colonial securities,
he might say it was a subject which required a
great deal of consideration, and he should think it would
be much better to leave the matter to the Court of Direc-
tors. There was nothing to prevent the directors from doing
so, but the very circumstance of this stuck having been
opened to the investments of trustees, made it very desir-
able that in any step of the kind they should be very
cautious. He did not understand what the hon. prof rietor
meant by the particular loss he had alluded to. The (thee-
tors were not sensible of having tuide a lees on the busi-
ness of the bank. Sometimes they might have a bad bill,
but the amount must have been very small. Ho did not
think anything had been lost during the past halt year.
Mr. LEVY said he understood that £lO,OOO had been lost
by the acceptances of Sir H. Mnggeridge.
Mr. HODGSON, M.P. (the Deputy-Governor), said the
amount lost was nothing like that.
The GOVERNOR said the amount had been greatly exag-
gerated. The loss was under £2,00, and that probably
would be recovered.
The motion of thanks to the governor and directors was
then unanimously adopted.
The GOVERNOR, in acknowledging the compliment, said
this was the last time he should have the honour of appear-
ing before them in the capacity of governor. The post of
governor was one of very considerable anxiety, and who-
ever had passed that chair after four years' service
(two as governor and two as deputy governor) must feel
that he had had many cares in connection with it. But on
the other luend he could not but feel it was an honour to
represent such large interests. On retiring from the chair
he should still feel that he had something to do on behalf
of the proprietors in his situation as director. In that
capacity he should attend to the duties as director as closely
as he had atten led to those of governor.
The proceedings then terminated.

THE ROYAL ACADEMY.—Mr. Boxall and Mr.
Weeks have been elected Royal Academiciani. Mr. Le
Jeune has been elected an associate.

A VISIT TO LANGIEWICZ.—A correspondent of
Leinberg journal, who has visited Langiewicz
in his camp, writes as follows At the entrance of the
General's residence stand two powerful sithemen, with their
weapons crossed. These form the body-guard of the in-
surgent General. On the left is a chamber of moderate di-
mensions,ie the centre of which .8 a table of a long and oval
shape,and around this sit and stand many men,wno carry on
so lively a discussion that one scarcely comprehends its
purport. Some of these are strong and wiry, others are in
the bloom of youth; but among those present there are
weather-beaten men, with gray beards and locks. At the
end of the table, somewhat sidewards, sits General Langie-
wicz, engaged in writing. The noise does not disturb him.
In this respect, according to the report of those around
him, he possesses much presence of mind. He writes, and
at the same time answers many questions, and also distri-
butes various orders to his officers, who continually come
and go. His answers were short and decided, as were his
orders. At last he raised his head a little, and I could ob
serve him more narrowly. Persons entirely disinterested
would declare his appearance to be quite an ordinary one,
but he pleased me on the instant. I will describe him as
briefly as possible :—He is of small stature, something ever
30 years of age ; thin, but muscular ; the head in propor-
tion, but with a weather-beaten though fresh complexion;
dark hair and somewhat spare beard ; the eyes dark and
large, but very beautiful ; his entire expression is mild and
decided, as with most thinkers. On his head he wore his
sapphire-coloured four-cornered cap with dark lamb's-wool
trimming and a white feather. He wore also large Polish
boots, Polish hose, and a dark fur-trimmed cloak. He wore
also a tricoloured sash, by which each of his officers was
equally distinguished, while some were also ornamen-
ted with white and red sashes. Alter my interview with
Langiewicz I began to look around me. It is difficult to
describe all who were present. I became acquainted with
Jez;oranski, Ciezeu ski, and ever so many more, who have
already made for themselves a name known to fame.
Among others was Mies Pustowojtow, who appeared to be
a young and delicate brunette. She is attired in man's ap-
parel. has been present at all the battles, and on horseback
flies like a bird, She ie generally beloved and respected on
account of her bravery and cheerfulness. In conclusion,
to complete the picture, I must mention the Capuchin who
serves as field chaplain and magazine man, and who, not-
withstanding his multifarious duties, is ever polite, agree-
able, and cheeerful. On the whole, the visit to Langiewicz
has made a very favourable impression on me. I did not
find in him the contentedness of resignation, but that aris-
ing from energy."
EXTENSION OF COTTON CULTIVATION.—The
Manchester Cotton Supply Association have received
many interesting letters showing a desire in various parts
of the world to extend the cultivation of the cotton plant.
The efforts making in Egypt have induced the association
to send out all the seed that could be spared, and at their
meeting on Tuesday they had applications from the West
Indies, Brazil, La Plata, West Coast of Africa, Bagdad,
Java, and Queensland. In the Turkish dominions there
seems to be a great desire to revive toe cultivation, and a
letter from Salonica states that in the district of Serres no
indigenous seed would be sown this season, superior varie-
ties being in favour. The governor of Bagdad has applied
for New • rleans seed, and states that a small t,uantity
planted at Bussorah had succeeded well. A. letter from
Guatemala shows how great a trade in cotton might be esta-
blished thete if suitable means were adopted.
A NEW POLISH LEOlON.—During the present
week a considerable number of poles have arrived and rakers
up their residence at Woolwich, the party forming, it is
s. aced, the first portion of a force rapidly increahing, and
which will shortly leave England, fully armed, for Poland.

011111:

HER MAJESTY.

WINDSOR CASTLE, March 18.
The Queen, attended by Lady Augusta Bruce,
walked and drove in the grounds this morning,
Their Royal Highnesses the Prince and Princess
of \Vales, her Imperial Highness the Duchess of
BrabanZ, and Prince Louis of Hesse, attended by
the Countess Murton and Lieutenant-Colonel
Keppel, rode on horseback.
To-day is the anniversary of the birthday of her
Royal Highness Princess Louise.