The Sun.
London, England, 1851-01-16 00:00:00

2.020 14 2

To undivided profit for the last half-
year ... ... ••• •••
To amount carried to profit and loss
account

£3,741,392 7 6
Cr. s. d.
By Exchequer-bills, India Bonds, &o. 479.080 18 1
By bills discounted, loans, and cash ... 3,234,936 9 5
By building, furni-
ture, &c., in Prin-
ces•street £17,750 0 0
By ditto ditto in
Fall-mall

... 9,625 0 0

'27,375 0 0

£3,741,392 7 6
PROFIT AND LOSS ACCOUNT OF THE LONDON JOINT.
ST, CK BANK FuR THE lIALF YEAR ENDING DEC. 31
1850.

X s. d

To current expenses, proportion of build-
ing expenses, directors' remuneration,
bad debts, income-tax, &c.
To amount carried to profit and loss, new
account, beirg rebate of interest on
bills discounted not yet duo 11,089 13
To amount transferred to the credit of
the " Guarantee Fund," in addition to
the above amount of 136,7341. 143. 9d.
To dividend account for the payment of
half-a-year's dividend, at the rate of
6/. per centuni per annum, upon
600,000/., amount of paid-up capital
upon
60,000 shares ... 18,000 0
To ditto for payment of a bonus of 3s. 6d.
per share •••

..: 14,823 13 6

... 10,500 0 0

.£54,788 3
Cr. £. 9.
By balance brought down ... 45,848 4
By undivided profit brought forward
from the hot half -year

... 8,939 18 1

£54,788 3

The CHAIRMAN moved the adoption of the report
and confirmation o(the accounts, and at the same time
declared the dividend on the paid-up capital, amount-
ing to 600,0001., with the 3s. 6d. bonus in addition.
Mr. W. BOROUGHDALE complained that the Ex-
chequer-bills were over-valued. He was not satisfied
with the general result of the bank's operation, nor
did he think it wise to continue increasing the gua-
rantee fund all infinitum.
The CamnAtazi said the directors were well pleased
with the present state of the bank; its business was
steadily progressing, and when allowance was made
for the higher rate of interest which prevailed in 1849
over that of 1850, no one could dispute that the past
year's operations had proved successful beyond ex-
pectation. With regard to reducing the guarantee
fund, he for one could not approve of such a pro-
ceeding, as the stability of the bank depended upon
its maintenance, though he did not mean to say that
there was no limit which it ought to exceed.
A PROPRIETOR asked what was the amount of the
one per cent. paid upon customers balances.
The CHAIRMAN said it amounted to about 10,0001.
per annum. The Exclequer- bills and bonds which
the bank held as securities were, of course, valued at
the current rate of the day, which was subject to con-
tinual fluctuations.
The motion for the adoption of the report was put
and carried.
On the motion that the retiring directors be re-
elected,
A PROPRIETOR said it would obviate a motion on
the subject if the directors wculd hold out a hope that
the guarantee fund should not be carried beyond
150,0001.
The CHAIRMAN thought it would be wiser to wait
till they got to 150,000/. before discussing how the
fund should be dealt with.
A PROPRIETOR was at a loss to perceive what
advantages the shareholders obtained from the gua-
rantee fund.
A DIRECTOR reminded the proprietor that it
secured the stability of the establishment while it
took little or nothing out of the pockets
of the shareholders, for it was made up of fractional
parts of sixpences, which could not be divided, and
the interest which annually accrued upon the total
amount.

Sir,—l have read a letter in your paper of Tues-
day last respecting the state of St. David's College
at Lampet,:r. 'I be writer, under the name of
" Ucalegon," says " St. David's College has not been
tnismanaged." Let me ask " Ucalegon" these ques-
-374 16 6 I tiuns:—

1. Was there not a Welsh professor originally ap-
pointed at this college for the benefit of Welsh stu-
dents? Why was the appointment discontinued, and
who has appropriated the revenue for that office?
2. Is it not a fact that such has been the disgrace-
ful supervision of Welsh instruction in this Welsh
College,that at a late examination in the diocese of
St. David's,
some young men presented themselves
for holy orders, and their exercises in the Welsh lan-
guage were so bad that the Bishop sent those exercises
back to the head of the college as a specimen of his
teaching, whilst his Lordship, who is visitor of the
college, passed the candidates ?
3. Is it not also a fact that last month another
batch of students from this " not mismanaged " col-
lege presented themselves to the Bishop of Llandstr,
who also sent back some of the Welsh exercises to the
Principal of St. David's College, as being quite dis-
graceful ?
Be it remembered that not long since the Bishop of
Llandaff was Vice-principal of St. David's College.
He also passed the candidates. If these are facts the
Bishops of St. David's and Llandatr have passed young
men for Welsh livings who cannot spell the language
of their parishioners, and' must, consequently, each
time that they have occasion to write that language,
make themselves ridiculous in the eyes of their flocks;
and yet, says Ucalegon," " this is not a mismanaged
college !"—Y our obedient servant,
-YIS,IOFYNIVR.
January 2.

''' Christ's College, Brecon.

A STARTLING STATEMENT.

'TO THE EDITOR OF TIIE DAILY NEWS.
Sir,—The ship Warbler, of the port of Liverpool,
sailed from the above port on the 17th of May, 1850,
bound to New Orleans, with a cargo consisting of
railroad iron, slates, bricks, also three hundred and
fifty emigrants. On the 18th of June, 1850, she sprang
a les.k, 1,250 miles E. by N. of Antigua; and after
throwing overboard about 100 tons of cargo, and con-
stantly pumping, succeeded in getting the ship into
English Harbour, in the Island of Antigua, where
every convenience exists for the repairing of ships, it
being an English dockyard, and for some years not in
use. On application being made to the person in
charge for the use of the dockyard it was refused.
The governor of the island was then appealed to ; his
'I he
was, that be could not interfere in the case.
he_con. sequence was, the ship, in her sinking condi-
tion, with nearly four hundred souls on board, had to
depart for a foreign port to be repaired.
JOHN B. WESCOTT, Commander.
Dec. 20, 1850.

IMPORTATION OF TURPENTINE.—An importation
has recently taken place from Aew York, of a parcel of
casks of white turpentine, called in America virgin dip,
n consequence of its being extracted from the first tapping
of the turpentine trees, the common turpentine being that
which is extracted from the trees tapped the previous years,
which is called yellow dip, and is the quality of the article
usually imported, the article called virgin dip being of much
softer quality. The importers desired the admission of this
newly-imported article free of duty as turpentine, but the
officers of the revenue, considering it to be liable to duty, de-
tained it for the consideration and directions of the authori-
ties, who, having taken the opinion of competent parties in
the trade, decided that the article was not to be considered
liable to the high duty as oil or spirit of turpentine, but
that, it being turpentine of greater value than 15s. per cwt.,
it was liable to a duty of 2s. per cwt., and was to be charged
with that duty accordingly. It being, however, subse-
quently found that the article was of the same quality as
iy usually sold in the American markets under the name of
virgin dip, and was not a manufactured article, and in the
opinion of highly competent parties in the trade was con-
siderably under the value of 15s. her cwt., it has, on further
application, been allowed to be delivered free of duty, as re-
q* u.sted It is expected that consiekrz.ble importations of
this particular article will take place from the United States,
Discoviny uF A DIPOT FOR STOLEN PROPERTY.
—A beer-home keeper, named George Hirst, has been taken
into custody at Leeds, under eircimr•Aances which induce the
belief that the priwtner has been in th, habit of receiving
stolen property. The prisoner keeps the Angel Inn, in Mar-
ket-street, in the centre of the town, and in his house the
police found a large quantity of property, consisting of woollen
cloth, silks, new umbrellas, and a variety of articles; some of
which have already been identified. 11e at present stands re-
mended till next Tuesday, the magistrates refusing bail for
his appearance.
A letter from St. Petersburgh states that the books
in the Imperial Library, founded by Catherine 11., and which
the Emperor Nicholas has thrown open to the public, have
just received a new classification. It appears from the new
catalogues that it contains 563,420 volumes and 15,471 manu-
scripts. The duplicate copies amount to about, 20,000, part
, of which are to be given to the Geographical Society of St.
retersburgh. Such works as remain over are to be sold
publicly.