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

LEFT SITTING.

EL MCTRIC TELEGRAPH COMPANY OF IRELAND.-At the
first mnual general meeting of the Electric Telegraph
Comp, my of Ireland held yesterday, Vice-Admiral Dil-
lon, K. C,H., in the chair, the report was read, which
stated t hat a special act of incorporation had been ob-
tained, g iving them the power to open all streets, high-
ways, anclpublic roads throughout Scotland and Ireland,
which on, ly required her Majesty's sign manual. In
Scotland ti io progress of the land works was satisfactory,
and the hi 'e from the Royal Exhibition in Dublin to
Glasnevin a 'as being proceeded with. The boisterous
state of the IA vather had prevented the recovery of the
former subm trine cable between Portpatrick and Do-
naghadee, so ti iat the Directors intended to lay down a
now one as quip ply as possible. The whole of the ex-
penditure of th i; company to the present moment was
30,0001. The C. hairman, in reply to Mr. Taunton, said
the Directors had no doubt whatever of her Majesty's
signature being g riven to their actj of incorporation.
There were about t 1,000 shares unissued, which could be
offered preferentiall rto 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 c if thanks was passed to the chair-
man and directors, and to the Honourable George
Massey and Mr. N. 11.1,bveedy, for their zeal in behalf of
the company.
LONDON JOINT-STOCI t BANKS. —The four principal
joint-stock banks of Los don have now held their annual
meetings, and have put dished 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 title 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
368,587/. 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 246 per
cent. on capital and 3f 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
11i per cent. and on accortuts of 1 1.16: its dividend is
.9 per cent. The Commercial Bank, established in 1840,
Ilas a guarantee fund of 20' per cent, on capital, 4i on
c ustomers' accounts, and in tys 6 per cent. and bonus of
1 6s. per share.

-N
EW 61i3. COMPANIES.— -In consequence of the
"strike" amongst the cab proprietors and the drivers,
t here have been no less than live different cab companies
f ;poken of as being in course of formation, but we be-
-1 ieve that only two out of this number are at present
s eriously entertained. The object of the promoters is
to ,supply a public vehicle to suit the present taste and
wow Pits of the London public, combining elegance of de-
sigi I, lightness of construction, and comfort in its use—
soni ewhat 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 / ;roduce some evidence of their sobriety, civility,
and respectability. Every inducement will be held
out to the men to conduct themselves to the
eirtin 3 satisfaction of the public, so as to form
su ch a striking contrast with those now in ab-
-5( lute command of the cab business of the metropolis
as. to s. acure the preference of the public in the selection
of ! the companies' vehicles. Calculations have been made,
s' sowing that the proprietary will be able to afford to
t he drivers a comfortable living without their having re-
c nurse to extortion. The system now in operation, of
I dting out the cabs and horses, will be that adopted.
I 1 is, however, understood that some modification of the
Pr ~sent Hackney Carriage Bill will be respectfully re-
pr asented to Government as necessary, but one of the
eh ief objects of the promoters will be to give effect to the
in' Mentions of the Legislature in passing that measure.
TI le present is a most favourable opportunity for the in-
tr Auction of such an undertaking to public notice, and,
tt ere can he no doubt that it would meet with the ap-
p •obation of Government, and obtain its sanction and
el icouragement. The price of the shares of one com-
p any is to be it., and of the other 51. each,