The Sun.
London, England, 1833-08-21 00:00:00

PROSPECTUS of the LONDON and
WESTMINSTER BANK.—His Majesty's Go-
vernment baying declared the law to be that no obstruc-
tions exist to impede the formation of Banks of Deposit
with an unlimited number of partners, it is universally
considered that a Joint Stock Bank of Deposit should he
established in London and Westminster, with such an ex-
tent of capital as will insure the perfect confidence and
security of depositors, and the greatest practical accommo-
dation and assistance to trade ano commerce.
Many noblemen, gentlemen, merchants, and tradesmen,
considering that every circumstance combines to make it
desirable for the public good at once to establish such a
Bank, the undermentioned Committee has been formed,
on whom will devolve the duty of making the necessary
arrangements for constituting the Bank, of forming the
direction, and of maturing the plan for the future manage-
ment of the establishment, including the settlement of the
deed of constitution, and the revision and alteration of the
conditions of this prospectus in their discretion.
The success of Joint Stock Banks is not experimental,
but ascertained, and practically illustrated by the admitted
prosperity of such Banks in England, Scotland, and Ire-
land. This affords the best reason for anticipating similar
success to the present more extended establishment, pro-
posed to by conducted upon the same approved system of
banking.
The advantages of joint stock banks are obvious—
" Their capital cannot be diminished by either deaths or
retirements ; their numerous proprietors ensure to them
confidence and credit, as well as ample business in depo•
sits, loans, and discounts ; and their rigid exclusion of
every kind of mercantile and speculative transaction,
affords a satisfactory guarantee to the community at large
that their means are only employed in legitimate banking
operations. They are under the management and con-
troul of men who are elected by the respective proprietors,
who have no individual interest which can induce them to
depart from an approved prudential course, and who are
a safe and constant check upon every transaction and upon
every officer in the several establishments; and their sp•
tem of accounts is so accurate tbat there is little trouble in
producing, at any time, a clear and full statement of their
stock and business, however great the one or extensive the
other."

It is intended, as far as may be practicable, to allow a
graduated scale of interest on deposits; and while none of
the beat parts of the system pursued by London Private
Bankers will be over-looked, it is proposed to give such
other facilities to the public as have bee❑ afforded with so
much advantage to all classes by Joint Stock Banks in
Scotland, and by the various similar Establishments more
recently formed in England and Ireland.
It is proposed that the Bank shall he designated " The
London and Westminster Bank," and that the establishment
shall be forthwith formed in the City, and for the accom-
modation of the public a Branch Bank will be simultane-
ously established at the West end of the town.
It will be in the discretion of the Directors, under the
deed of constitution, to establish other branches where it
may be deemed expedient.
The capital shall be 10,000,0001., divided into 100,000
shares of 1001. each, in order that the mercantile and
trading community and the public in general, who may
become proprietors, may, by this extensive distribution
of shares, acquire an interest in the prosperity of the
establishment, and participate in its advantages.
Five pounds per share will he, in the first instance,
payable by those becoming proprietors, to five of the un-
dermentioned Committee as Trustees, according to direc-
tions which will hereafter be conveyed to them individu-
ally, and any further call that may be required, will be
made under the sanction of the Directors and the deed of
constitution.

No subscriber holding a smaller number than thirty
shares shall be eligible to be elected a Director.
A General Meeting of the Proprietors will be held in
each year, at which a statement of the affairs of the Bank
will be submitted.

The deed of constitution will contain all the usual and
neceroary clauses.
The present Committee, with power to add to their
number, is composed of—
The Most Noble the Marquis of BUTE.
The Right Hon. Lord STUART DE ROTHSAY.
Sir THOMAS FREMANTLE, Bart., M.P.
PATRICK MAXWELL STEWART, Esq., M.P.
HENRY THOMAS HOPE, Esq., M.P.
JOHN STEWART, Esq., M.P.
SAMUEL ANDERSON, Esq.
GEORGE ARBUTHNOT, Esq.
HENRY BOSANQUET, Esq.
WILLIAM ROBERT KEITH DOUGLAS, Esq.
HENRY HARVEY, Esq.
MATTHEW BOULTON RENNIE, Esq.
PEARSON THOMPSON, Esq.
Applications for Shares to he addressed to the Secre-
tary to the Committee of the London and Westminster
Bank, at its temporary Offices, No. 35, Great Winches-
ter-street, Old Broad-street ; and No. 11, Waterloo-place,
Pall-mall.
The Committee,
in apportioning the Shares, will be
con,.
munity to distribute them among such classes 01 the
munity as are likely
to promote the future interests of the
Estatphabinent.

The investigation respecting the burning of the Custom-
house stores has not yet terminated, and consequently the
newspapers are not at liberty to publish such facts as have
been elicited relative to that disaster. As coming events,
however, cast their shadows before them, the good people
of this city are pretty well satisfied that the sulmtonce of
the inquiry, when made known, will not amount to much
more than that, " notwithstanding some suspicious cir-
cumstances and idle stories, and considerable neglect on
the part of some persons, who ought to be more vigilant
on behalf the traders of Dublin, there is no ground to
suppose that the catastrophe was produced by an incen,
diary, or the effect of malice." That such will he the re-
sult of an inquiry, with the particulars of which, pro-
btbly to-morrow's post may supply you, the following fact
leaves little reason to doubt. Though the investigation is
not yet closed, it was resolved on Saturdty that a deputa-
tion should go immediately to London, to bespeak an
indemnity from Government for the sufferers. Mr.
O'Connell, who has been laudably active in this business,
is one of the deputation, and has already departed on his
mission. In his speech on Saturday he insinuated a threat,
that if Government did not voluntarily compensate his
fellow-citizens for their losses by this " untoward event,"
they might be compelled to do so. This may be fairly
inferred from what he said, though be declined giving any
opinion on the law of the case ; and, independent of facts
not yet made public, many persons bete think O'Connell's
view of this business is as correct, as it is under all cir-
cumstances very discreet on his part. The doctrine of
" implied contracts" would seem to say, that if stores have
been provided for the bonding of goods for a certain
period, there ought to be a guarantee somewhere, that
such goods would be safe in these stores. It was under
this impression your correspondent, in giving an early
account of the fire, ventured to say, " that unless Go-
vernment interposed" the consequence would be ruinous
to many persons in this city. Does not this affair afford
O'Connell an excellent opportunity of ingratiating himself
with Government, as well as with such of his fellow -
citizens as hitherto differed with him in politics? His
speecl.es here of late were remarkable for the praise of
Mr. Littleton, and the absence of all abuse of the " Whig
Ministers." This at a period when the tribute " comes
slowly in," looks as if our friend Dan had some notion of
becoming really useful to himself and his country.
Those who say that tithes are virtually abolished in this
country, will be borne out by facts in their assertions. It
is in vain for Government to load the Statute-book with
Acts of Parliament on this subject, which must prove a
dead letter, except in disturbing the peace and happiness
of Ireland. The people refuse to enter into a composition
for their tithes under the late Act, openly declaring that
they will never again pay such an unreasonable impost.
A meeting was convened by the parson of the parish of
Duncormick, in the county of Wexford, and a Commis-
sioner, last wetk, the result of which shows the impolicy
of endeavouring to sustain a system long since tottering
under the light of reason, expediency, and justice. Not
more than fifteen parishioners assembled, who one and all
told the Commissioner and parson they would enter into
no agreement for the payment of one farthing in lieu of
tithes. Three sturdy farmers of real John Bull extrac-
tion, Duke, Brown, and Barry, the descendants of those
Englishmen who first settled in Ireland, declared that they
and their fellow-parishioners would quietly suffer their
property to be destroyed and carried away by the agents
of unreasonable laws, but they would not voluntarily
enter into agreements alike abhorrent from common sense
and public decency. In fact, Government should at once
provide for the present clergy of the establishment in Ire
land during their lives, abolish tithes, and leave all future
ministers of peace to support themselves otherwise than
by the property of those who deem its demand unjust
and its payment an extortion. It is to be apprehended
that any laws net founded on this basis will not only be
abortive in effect, but the cause of further mischief and
bloodshed in this unfortunate country.

TRADE OF SHEFFIELD.—The cutlery trade
is in a tolerably brisk state ; the workmen are general 'y
employed, and the poor rates are lighter than they were
last year.

WELSH FLANNELS.—The East India Com-
pany's order for 20,000 yards of funnels, after being one
year sent to Lancashire, has again been sent to a draper
in Shrewsbury ; the quality of the Lancashire goods
being found so very inferior as to be nearly useless in
India. At the flannel market in Newtown, on the 25th
ult. the most scarce goods were those at from 6d. to 14d,
per yard ; middle-goods 15d. to 21d. ; fine and Superfine
22d to 2s. 9d. Inquiries were made for extra superfine
at from 3s. 6d. to 3s. 9d. ; but there were not goods
enough in the market; and as wool has much advanced,
the manufactured goods must consequently advance._.
Cambrian.

LIVERPOOL CORN EXCHANGE, AUG. 16.—.
At this day's market our prices of Wheats were fully
dearer than on Tuesday, particular kinds Id. a 2d., in
consequence of unsettled weather and increasing rumours
of a defective wheat crop; the business transacted, bow.
ever, was limited, and chiefly with the town dealers.
Oats, oatmeal, Irish flour, and barley, were all dull, at
former rates. Beans are Is. a 2s. dearer. No transac-
tions have been reported in bonded articles, but holders
very steady.—Liverpool Standard of Friday.
LIVERPOOL COTTON MARKET, AUG. 15.
—The demand for cotton continues animated. 8,000
bags have been sold to-day, at an advance of id. per lb. on
the prices of Friday. A further rise is expected.
LIVERPOOL COTTON MARKET, AUG. 16.
--Our market has been very quiet today, though we have
had a good attendance of dealers, who are waiting the
intelligence by the New York packets, which, so far as
we can learn, is decidedly in favour of a further improve.
ment in price. The dates are to the 15th ult., which
state that, " in the previous week, an advance of a cent
per lb. was obtained, partly on account of advices from
hence to the Ist of June, with an improvement here, but
more particularly from the circumstance of the very small
stock held at New York, which would all be wanted for
their own and the French markets ; consequently, we
cannot possibly have much more into this market until
the new crop comes forward. The stock of cotton held
here is about 70,000 bales less than at the same period
last year.—Liverpool Standard.
LIVERPOOL COTTON MARKET, SATUR-
DAY, Aug. 17.—The market has been very steady during
the week, and to-day, in consequence of an increased
speculative demand, id per lb. advance has been realized
in American descriptions. Brazils are generally firm,
and in Pernams sales have been made id per lb. higher.
The sales of the week, including 12,600 bales American,
700 Pernams, 600 Maranham, and 100 Surat taken on
speculation, amount to 24,150 bags, and the imports to 4412
bags. The demand has been lively to-day : the sales amount
to 7000 bags—Prices may be quoted as yesterday, with a
strong tendency to rise.—The accounts received yesterday,
from New York, of the supply being short, has stimulated
speculation within these two days.
NEW YORK COTTON-MA RKET.—We copy
the following from a letter, dated New York, July 15,
received by a commercial house this day :—" The Cotton
Market during the last eight days has been very animated,
and our anticipation that the purchasers would be com-
pelled to accede to the demands of the holders has been fully
realized. The sales have been extensive and the actual prices
at the close of last week ranged from z to 11 cents. per lb.
higher than the rates which were previously obtainable.
The result has been, no doubt, hastened by the tenor of
the advices received this day week, by the Caledonia, from
Liverpool, to the Ist ult. ; but the main cause is the opinion
generally entertained and confidently expressed, that the
stocks of Cotton in this country are so exhausted as to be
scarcely more than sufficient for the supply of the French
m •rket and for home use till the new crop comes forward,
thus leaving the English market for the remainder of the
year without any further supplies of consequence from the
United States. We quote Uplands, Tennessees, &e., or-
dinary to fair, 13c. to 15c. ; fully fair to good 154 c. to
161 c. Fine Mobiles, Louisianas, &c., 15e. to 17e. The
s Iles since the 6th inst. are estimated at 7,500 bales.—
Liverpool Standard.
LUDICROUS ACClDENT.—Yesterday, while
an elderly woman was passing along the South Bank of
the Canongate laden with more than an ordinary quantity
of the spirit of Barleycorn, which affected rather disad-
vantageously her eye-sight as well as her gait, she hap-
pened, in obedience to the law of gravitation, to fall into
a well that was being digged, when an Ii ishman, who was
htoers thee lfpwreajsu verydice
working in the well, received one of her feet right into his
mouth
woman of
fttfile hveourrt-hs .Scotsmanf ronttee.th. The