The Sun.
London, England, 1825-11-26 00:00:00

r SEvEr4pENcE.

feld was private property. He bad been a collector 17 yei,rs,_
He remembered that about 26 years back, the fa which 1:,-d
-been held in the town, was removed to the field.

The Magistrates having cornimuned togetl:er for a sher't
decided that there was no evidence before tea to show that a
ri.4lit existed for the fairs of Camberwell and Peckham,. aryl
ttserefore they- felt it to be their duty to require the Lords of ti
Manors to enter into recognizances according to the 55th Gea
111. cap. 55.
Mr: Dodd, the solicitor, said tiatt his clients being absent, 1,.!
begged the matter to stand over, as regards the recognizan.-ei,
until the 14th of December.

This proposition Was irnmeliately acceded to by a! Rianci:,
aid the Court then broke up.

HIBERNIAN JOINT STOCK BANKING COMPANY

AP at
n , rif E.
adjourned Meeting of the Shareholders of
this Company wascis.listladsyecastielreddayto. atthrleactshana;rs.—Coae ta
re
s• hTtJesde.
B.c. t
object of the Meeting was to consider in what manner tel
'unds of the Society already in hands Might be appropriated to
the best interests of the Society gererally. At present t....et
shares of the Society were at a 'discount. It was Lis opinion
tiv.t. the capital of the Society might be advantageously laid oit
in the purchase of those shares. Thst,they had the power of
Purchasing eitheriheir own 'shares ot those of anyother com-
pany' would appear from the folloWiril'arlide in the deed of
settlement :
" That the business should consist as well in purchasing and
selling annuities, and all public and other securities real
personal in Ireland, in making loans and advances of money
on the security thereof, and of merchandiae and manufactured
goods, at legal interest, and in receiving lodgments of money
or deposits thereof, as also in laying out and investing or ad _
vancing monies at interest, upon the security of reaf'or per-
sonal estates in England or Ireland, or upon cash accounts,
bills of exchange, promkory notes, letters of credit, binds, ani
other' obligations, and also, as far as the law would allow, in
buying-or selling Government or Public Funds of Great Bri-
tain or Ireland, Exchequer or Navy Bills, or other securities of
Great Britain or Ireland, and Stock of the flanks of England
or Ireland, the Stock in other securities of the East India Com-
pany, and of Joint Stock Banks in Companies of the United
Kingdom of Great Britain and Ireland, or the stock or shares
of any other Company or Corporation acting under Royal
Charter, or Act of Parliament ; and also in acting consistently
with law, by general Agents and Bankers, in all money nego.
ciations or transactions whatsoever."
This was, the CHAIRMAN said, the nature of the business
which it was intended the Company would transact.- It oc-
curred to some gentlemen who were deeply interested, that as
the shares of the Company were now at a low rate, it would be
advisable in the Directors to take advantage of that circum-
stance, and purchase up such a number as would have the
effect of abating the depression, which, it was evident, arose
from temporary causes. This, he said, would be a safe mode
of investment, and a recommendation to this effect to the Direc-
tors in Ireland, would perhaps be moved by some Shareholder
present.

A Shareholder suggested that two letters, which the Chair.
man received, in answer to letters of his,requesting information
on the subject of the Company, should be read
Dublin, 20th Aug.
Sir—l had the honour of receiving your letter of the 13th
instant, respecting the Hibernian Joint Stock Company, of
which you appear to think lam Governor. I beg leave to ac-
quaint you, that the moment I first heard of my being elected
Governor of this Company, I immediately declined that ho-
nour, and sent in my resignation. Mr. Nicholas Mahon, of
Merchant's Quay, is Governor of the establishment.
" I-shall lay your letter before the Board of Directors, who
will, I suppose, communicate with you on the subject it relates
to. I have the honour to be, Sir, with great respect, your
humble servant,
___

" WILLIAM MURPHY, Bachelor's Walk.'
" Henry Blain, Esq."
A Shareholder stated, that Mr. Murphy declined on acco•:.nt
of his other numerous avocations. He was the leading Cathe.,:_
merchant in Dublin, and a gentleman universally respectec.
This statement appeared to he made to meet an objection taker.
at the former meeting to the resignation of Mr. Murphy, by
Mr. Blain, who said that he had been mainly induced to be-
come a member of the Society, on seeing the name of that very
respected gentleman announced as Governor of the Bank.
The next letter, which was addressed from Dwyer, the Se-
cretary to Mr. Elain, was to the following effect:—
" Hibernian Bank, Dublin, Aug. 30.
Sin—Your letter of the 13th instant, addressed to Mr
William Murphy. ties been submitted to the Board of Direc-
tors. and I am instructed, to inform you, that the directors
would feel happy in affording you, and all other Proprietors,
every information in their power, consistent with their duty
hut they apprehend that information given in the manner your
letter would require, might be considered partial, nor would
they feel justified in making communications of the nature
alluded to, until the General Meeting cf the Proprietors (to
beheld pursuant to the Company's Laws), on the first Monday
in December next, on which day a statement of the proceed-
ings of the Company, &c. will be submitted generally to the
Proprietors. As to your inquiry upon the subject of cash ad-
vances upon the Company's stock, I am instructed to inform
you, that such will be made at 4 per cent. to the extent of one-
half the deposit paid, for periods not exceeding three months__
the stock to be transferred to the Trustees of the Company .
and the collateral note of the borrower to be also given. The
Company's agents in your city will answer any further in-
quiries, and transmit any application upon the subject.— I have
the honour to be, Sir, your most obedient servant,
" "JAMES DWYER, Secretary."
Henry Blain, Esq. London."
The CUAIRMAN concluded by observing, that the public
would not readily pay their money into a concern, the shares
of which were at a discount; but would go to the Bank of Ire-
land for that purpose.
'A Shareholder—lt strikes me, that if the Company can lent.
money at 4 per cent., they can most profitably employ it in the
purchase of shares. They have now 250,0001. in their chest,
and if the Directors buy two thousand shares at a discount, it
will be an excellent investment. Ido not, at the same time,
mean to confine the Directors to . any particular mode of pur-
chase.

Another Shareholder said, he held a large number of sharee.
which he had purchased at 5 per cent. premium, and he, of
course, felt much interested in the Company. Individuals
would be very cautious how they invested their money in a
bank whose stock lies at a discount. That stock ought not to
be in such a condition. Instead of 4 per cent., they might be
now making 5 per cent.
A third Shareholder said, that he felt no objection to the
proposition of recommending to the Directors to purchase the
shares of the Company ; but he did not know whether
were authorised to do so.

The CHAIRMAN said, it appeared by the deed of settlement
that the Directors were empowered to purchase the shares of
any Company authorised by Act of Parliament, or by Charter.
The Company, he said, could not he dissolved unless a loss of
10 per cent. were sustained in one year. In that case a third
of the Company could put an end to it. If a loss of 20 per
cent. were sustained within the same period, an individual
could dissolve it ; but if neither of these losses mere Suffered,
the concurrence of all the Shareholders was necessary before its
duration could be interfered with.
A Shareholder, who said he held a considerable number rt
shares both in England and Ireland, said, that as a general
meeting was to be held in so short a time in Ireland, it would
perhaps be more advisable not to come to any resolution.until
after the English Shareholders should have the affairs of the
Company, as stated at that meeting, laid before them.
Another Shareholder—The recommendation rf this meeting,
to do what appears to us, to be advantageous, may be laid
before the meeting in Dublin, and have its effect.
Mr. Moc.avra said he did not object to the recommends-
tion,. but he hoped that there would he added to it the provi,
lion, that the Directors should not use such purchases, as the
means of limiting the operations of the estahlisiunents, and of
rendering a further call necessary. Such a proceeding would,
he thought, be extremely dangerous.
A Shareholder—l am only tearful of being 'paid off at par,
after having purchased a large number of shares at a consider-
able premium.
.Resolutions were then passed. The substance of which was
—that the shares of the Hibernian Joint Sock 'Company were
depreciated below their actual value from temporary 'causes,
and-reconimendatory of purchasing the shares that were at pre-
sent at a discount.
The customary acknowledgment of thanks utcas voted to the
Chairman, and the Meeting separated.