The Sun.
London, England, 1865-03-25 00:00:00

Metropolitan Board of Works.

The usual weekly meeting of the Board was held
yesterday at the offices, Spring-gardens, Mr.
Thwaites in the chair.

FINANCE.

The cash statement showed that the balance in the
hands of the treasurer on current accounts amounted
to £239,266 9s. 5d., and on deposit accounts to
£350,300 ; invested in Government securities,
£51,371 10s. 10d.
The CHAIRMAN said he was sorry to announce

that one of the collectors was a defaulter to the

Board. He moved that the matter be referred to
the Finance Committee. The motion was carried.

THE THAMES EMBANKMENT.

The engineer read a long correspondence, which
had passed between him and the contractors for the
Thames Embankment, in reference to the quantity
of material to be taken from the river and from the
land for the filling up of the wall behind the embank-
ment, and desiring them to use equaL quantities of
each, and also to take the material from the land
only during certain hours. Mr. Furness complained
of charges made by the Thames Conservancy for
taking the material from the dredgers to the em-
bankment. He maintained that the material from
the river was not so good as that obtained from the
land. It would take a long time to consolidate, and
if he was not allowed to finish the works in a proper
manner he would not be responsible for any defect
in the works.

Mr. ROACH moved that the correspondence be en-
tered on the minutes. The contractor had been ob-
stinate, and he must obey the orders of the Board.

Mr. BID GOOD said it was all very well to pounce
down oh the contractor and use harsh words. They
must bear in mind that it was not the obstinacy of
the contractor, but rather the fickleness of the Board.
The contractor had to get thousands of yards of
material, and had to make his arrangements accord..
ingly. He considered it was the fault of the Board,
which had varied and changed its course week after
week. He hoped that they would have patience and
use calmer language.

Major LYON strongly condemned the conduct of
Mr. Furness, the contractor, in disobeying the order
of the Board in taking more material from the land
than from the river.

Mr. J. SAtTNDERS said they could not blame the
contractors for taking care of No. 1, but the Board
must also take care of No. 2—the public. They had
now prohibited Mr. Furness from taking material
from the land, and the Board could not be charged
with fickleness, as they had ordered the contractors
to use equal quantities of river and land material.
It was the duty of the Board to see that their order
as varied be carried out; that no injustice be done
to the contractors; and also that the Board do its
duty towards the public.

The motion that the correspondence be entered
on the minutes was then carried.

A letter was read from Mr. E. Burstal, Thames
Conservancy, transmitting the copy of a letter from
Mr. Furness, requesting the conservators to supply
barges to lighter material from dredgers to the
Thames Embankment, and asking the Board
whether it would pay the cost of such lighterage.
The CHAIRMAN said the contractor complained
that the conservators could not supply the material
in sufficient quantities. It was important to see if
the conservators could raise a sufficient quantity ;
and if the cost of raising and conveying the material
in barges was charged to the Board, they would
then be able to see who was in fault.

It was then decided that the net cost of raising
and delivering the material from the river be charged
to the Board.

Mr. BIDGOOD said Mr. Furness had been charged
with taking more material from the land than from
the river. It might turn out on investigation that
he Could not get a sufficient quantity from the river.
He moved that the correspondence on the subject
be referred to the Thames Embankment Committee
for investigation and report.
The motion was carried.

The other business of the Board was of no public
interest.

Protector Endowment, Loan, and Annuity
Company.

The ordinary general meeting of proprietors in this
undertaking was held on Thursday at the office in King_
street, Cheapside—Mr. Alfred Smes in the chair.
The CHAIRMAN opened the proceedings by adverting to

the death within the previous 48 hours of their late manager,
Dir. J. Beadnell, upon whose character and qualifications he
passed a high eulogium.
The following report was read:—" The directors have
much pleasure in submitting the account of the operations
for the past year. Great, activity has been displayed in all
the departments, and fresh agencies for the transaction of
business have been opened in various parts of the kingdom.
The modo adopted by this company of granting loans for a
period of three or four years differs from that of banking
establishments, and is not influenced in the same manner by
monetary disturbances. The loan department is in a very
satisfactory condition, and shows continual increase during
the year; not only more advances have been made than on
any previous period, but the rate of development of this
branch progresses in the same satisfactory manner. From
the care taken in granting loans, the per centage of loss is
very small upon the sum lent. The deposit department is
also satisfactory, and it is a great benefit to obtain a con-
stant rate of interest of 5 per cent., independent of the fluc-
tuations of monetary causes. Tho directors recommend
that the interest on shareholders' stock be at the same rate
for the current year as heretofore, namely, at the rate of 5
per cent. per annum."
The CHAIRMAN congratulated the shareholders upon the
increased activity in the operations of the company which
siannedss getherneerwalal was re
sy
eyery,lly prospectand sub-
stantially their business the report disclosed. They had largely increased the num-
berstan otifallloyanaus
it would develop itself in the future in a much greater ratio
than it had yet done. It should be known that, whatever
the rate of interest in the market, whether high or low, this
company paid 5 per cent. on deposits, which were lent out
again for the advantage of the shareholders. The facilities
which the company offered were important, the more so
as they were afforded to a class of persons who, as a rule,
did not keep a banking account, and could not obtain
accommodation at a banker's. They made advances occa-
sionally to parents to enable them to send their sons to
college, to put them out in the world, or to set them up in
business. Again, if a trader desired a loan to extend his
trade by the introduction of additional capital, or a clerk had
from some unforeseen misfortune got into temporary diffi-
culties, he might send in a proposal to the Protector office,
and if the directors were satisfied with the character of the
applicant and his sureties a loan was at once granted, and
in this wayvery great good was frequently done,and some-
times persons were saved from ruin. And the experience of
the office proved that loans made in this way for two, three,
or four years on the security of two or more responsible
sureties was a perfectly safe way of investing money, and
loans being repaid in the most punctual and satisfactory
manner, and the assistance thus given conduced rather to
habits of providence than extravagance and carelessness.
As they had always money to lend, their business was be-
coming very large, and would, no doubt, become more pro-
fitable to the shareholders. In conclusion, he moved the
adoption of the report.

Mr. WILLIAMS seconded the motion, which was carried
unanimously.

The directors retiring by rotation were re-elected. The
auditors we) e also re-elected, and ten guineas each awarded
to them for their services.

A dividend at the rate of 5 per cent. on the shareholders'
stock was then declared, and the usual compliment to the
chairman concluded the proceedings.

THE EFFORTS FOR A REPRIEVE ' FOR WILLIAM

HAIIILTON.—At a preliminary meeting, held last
evening at the Clarence Hotel, Spring Gardens, a number
of gentlemen formed themselves into a committee, for the
Purpose of adopting such measures as may be deemed
necessary with a view of securing a commutation of the
sentence of death passed upon William Hamilton. It was
resolved that memorial sheets should be placed in the streets
of Manchester and Salford for signature. The meeting
afterwards adjourned to Monday, at 3 p.m. we understand
that the jury who found the prisoner have united in a
petition to the Home Secretary for a commutation of the
sentence, and this petition was taken to London by a depu-
tation of gentlemen yesterday afternoon. Up to last even-
ing 2,000 signatures had been affixed to the public petition
which is being prepared.

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