The Sun.
London, England, 1853-07-29 00:00:00

LEFT' SITTING.

ELECTRIC TELEGRAPH COMPANY OF IRELAND.-At the
first annual general meeting of the Electric Telegraph
Company of Ireland held yesterday, Vice-Admiral Dil-
lon, K.C,H., in the chair, the report was read, which
stated that a special act of incorporation had been ob-
tained, giving them the power to open all streets, high-
ways, and public roads throughout Scotland and Ireland,
which only required her Majesty's sign manual. In
Scotland the progress of the land works was satisfactory,
and the line from the Royal Exhibition in Dublin to
Glasnevin was being proceeded with. The boisterous
state of the weather had prevented the recovery of the
former submarine cable between Portpatrick and Do-
naghadee, so that the Directors intended to lay down a
new one as quickly as possible. The whole of the ex-
penditure of this company to the present moment was
30,0001. The Chairman, in reply to Mr. Taunton, said
the Directors bad no doubt whatever of her Majesty's
signature being given to their actl of incorporation.
There were about 8,000 shares unissued, which could be
offered preferentially to the present shareholders. Mr. '
Alfred Mayhew said the meeting was called that day in
conformity with the Act of Parliament. The report was
adopted, and a vote of thanks was passed to the chair-
man and directors, and to the Honourable George
Massey and Mr. N. Tweedy, for their zeal in behalf of
the company.
LONDON JOINT-STOCK BANKS. —The four principal
joint-stock banks of London have now held their annual
meetings, and have published their several reports to
the end of June, 1853. The following figures show in
a strong light the steady and growing importance of the
institutions, and attest the mercantile ability and care
with which they are conducted. The aggregate amount
of their paid-up capital is 2,323,0001., customers' de-
posits 16,833,0001., and their rest or undivided profits
363,5871. The accompanying statement will be in-
teresting to those who differ in opinion as to the point
at which the rest or guarantee fund ought to stop. The
London and Westminster Bank, established in 1834,
has a guarantee fund on capital of 11 per cent, and on
customers' accounts of 11 per cent., and pays a dividend
of 6 per cent. and bonus. The London Joint Stock,
established in 1836, has a guarantee fund of 24 per
cent. on capital and at on customers' accounts, and pays
8 per cent. and bonus: The Union Bank of London,
established in 1839, has a guarantee fund on capital of
111 per cent. and on accounts of 1 1-16 : its dividend is
9 per cent. The Commercial Bank, established in 1840,
has a guarantee fund of 20 per cent. on capital, 44 on
customers' accounts, and pays 6 per cent. and bonus of
16s. per share.

NEW CAB COMPANIES.—In consequence of the
"strike" amongst the cab proprietors and the drivers,
there have been no less than five different cab companies
spoken of as being in course of formation, but we be-
lieve that only two out of this number are at present
seriously entertained. The object of the promoters is
to supply a public vehicle to suit the present taste and
wants of the London public, combining elegance of de-
sign, lightness of construction, and comfort in its use—
somewhat after the model of the flys now in use
at Hastings, and other watering-places. Care will
also be taken in the selection of the drivers,
who, it need scarcely be added, will be required
to produce some evidence of their sobriety, civility,
and respectability. Every inducement will be held
out to the men to conduct themselves to the
entire satisfaction of the public, so as to form
such a striking contrast with those now in ab-
solute command of the cab business of the metropolis
as to secure the preference of the public in the selection
of the companies' vehicles. Calculations have been made,
showing that the proprietary will be able to afford to
the drivers a comfortable living without their having re-
course to extortion. The system now in operation, of
letting out the cabs and horses, will be that adopted.
It is, however, understood that some modification of the
present Hackney Carriage Bill will be respectfully re-
presented to Government as necessary, but one of the
chief objects of the promoters will be to give effect to the
intentions of the Legislature in passing that measure.
The present is a most favourable opportunity for the in-
troduction of such an undertaking to public notice, and
therq can be no doubt that it would meet with the ap-
probation of Government, and obtain its sanction and
encouragement. The price of the shares of one com-
pany is to be 1/., and of the other 51. each.