The Sun.
London, England, 1860-07-20 00:00:00

THE UNION BANK OF LONDON.

The dividend of 5 per cent, for the half-year de-
clived on the 11th inst. by the Union Bank of Lon-
don will be paid te-day in due course, the applica-
tion for an injunction having been refused. The
judgment of the Vice-Chancellor, howeveroeems not
to impugn the propriety of the application on the
part of Mr. Fawcett, but simply determines that
the present dividend may be paid now that it has
been declared, leaving open the question whether
the declaration of future dividends may not be re-
strained. It is simply, in fact, a technical point
that has been decided, and not the merits of the
case, which will stand over, together with the ques-
tion of costs, for a future hearing. The discussion
of the personal liability of the Board for the Pul-
linger loss is also deferred, and is not expected to
come on before January next. On this matter there
was originally but one feeling—namely, that the
loss having arisen solely from oversight and error of
judgment, it would be altogether unjust and im-
politic to visit the directors with individual punish-
ment, more especially as the shareholders were still
upon balance indebted to them for a. highly pros-
perous condition of their property. But just in
proportion as this argument makes in favour of the
directors in one way, it makes against them in
another. By their treatment of Mr. Henderson
and others they have proclaimed to the world
that, in their opinion, so far from faithfulness of
service, integrity of character, or absence of wrong
intention being counted as pleas in. mitigation of
mistakes or omissions, severity in such cases should
be carried to the extreme point of turning forth the
offenders to utter destitution, and if possible with
blighted reputations. Let them be judged, there-
fore, by their own doctrines and practice, and even
the exaction from them of the full amount of
Pullinger's defalcations would appear an in-
adequate penalty. Of course, even in the face
of their own proceedings, it is still not wished
that any such result should take place. For-
bearance is the best reproach to those who render
none. But there can be no question that the facts
which have transpired in this respect have created
an almost universal change in the feeling of the
public, and that there would now be little sympathy
with the directors even if the steps commenced were
to end unfavourably. It is necessary to put this on
record, not merely in justice to English sentiment,
but also in the interests of that large and valuable
body of upright men who pass their lives in the
routine duties of clerkship, and who, when they
have arrived at a state too late to begin the world
again, are entirely dependent on the honour of their
employers for their future existence and the due
recognition of their services.—Times' City Article.

DEATH OF LORD ELPH
Lord Elphinstone,
announce the death of the Right Hon.
da
y is King-
which melancholy event took place y
-, °saner, who was 13th
INSTOWe regret to
street, St. James's. The deceased nobleman,
Baron Elphinstone, in the peerage
in 1807, and succeeded his fatheer in fisSni3o.tlanAditer washabvoinrng
1837 to 1842, he returned
privatet Englandcapacity, pacity, and travelled much
tilled the office of Governor ofethllladra;sbPurtesshidoernacyy from
again visited India in a
tiunrmoimlindostan as well as in Cash-
ed to England, he Was a Lord
mtherroeughh(Luvrinpgososegasstinoeenrsenbet-r, 185138,47.wthoeFnehbnie was appointed
alpBps2oin, and
d
It was during the latter part of his
the outbreak of the
finrolVaJitainnugartyo theo Clouento
occasion of the
Lord Elphinstone '
mutiny, that
.displayed an amount
Itaiacnt
andm
resolution which secured him the hearty good-
willtGencwuerrße of°r tohUolncbear O
of
of all parties. On the suppression of that out:break he
received the thanks of Parliament for his great. services,
was made a Grand Cross of the Bath, and also. created a
Baron in the Peerage of the United Kingdom. His lord-
ship, as our readers are aware, had only recently returned
to England, having prolonged his stay in India tat the ex-
press request of the Government. That delay ', however
beneficial to the public interest, proved fatal to ta constitu-
tion already enfeebled by a tropical climate an d worn out
twith work. Lord Elphinstone returned to En gland only
eo expire ; he sank from no organic disease, but. from sheer
pxhaustion, and has thus added another to that long list of
Public servants whose lives have been sacrificed in the
aithful discharge of their onerous duties.
GRIMSTONE'S EYE SNUFP.—A certificate proving the
virtues of this snuff, from Dr. lire, 11.. D., F.R.S., 25,
fieppel-street, Russell-square :—" I here'by certify that the
eye snuff invented and manufactured by Mr. Wm. Oriuic;
stone, of the Herbary, Highgate, is quite free freon tobac
.
and composed of herbs, capable of exciting mild) y theae
pitui-
tary glands, without exercising any snbsequ
ise thereforent n re
o
action on the optical organs. This snuff
vision.—Andrew lire, M.D., F.R.S., p 0
abover is t he result of an
adapted to relieve congestions affecting
ftelissoe 'rbroainf
cahnedmtihse-
try and analytical chemist." h
rec..))blyttohefree Spanishthis
analysis of Grinistone'seyaefinivllaffye.ainrera
Consul-General (Marquis _ o=l3ol
is.
muff from tobacco duty in the 1)114113

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THE SUN.
LONDON, FRIDAY, JULY 20, 1860.

So, even the Bankruptcy and Insolvency Bill has
died the death among the number of the Innocents.
It was to be the one redeeming act of the present
session. If nothing was done that would be done
for certain—and it certainly has been " done,"
though in a different sense from the one actually pre-
dicted. The measure that was to compensate those
most eager for the advance of legislative improve-
ment, for the dropping of the Reform Bill, and for
the masnacre of all the Innocents—the bill elabo-
rately prepared by one of the greatest lawyers of his
age (the present Attorney-General) for the better
organisation of the whole system of our jurisdic-
tion in regard to Insolvency and Bankruptcy—
even this, the latest masterpiece of Sir RICHARD
BETIIEL'S ingenuity as Attorney-General, has now
been formally withdrawn by that lion. and learned
gentleman in the name and on behalf of her
MAJESTY'S Government, The resolution to
abandon the bill for the present session was
arrived at only so recently as two o'clock
yesterday morning. That intention was at once
communicated to the officers of the House of Com-
mons, and upon the House going into committee
last evening upon the Bill, the Attorney-General
rose and explained the necessity for its withdrawal.
It is worthy of particular note that Sir HuGH CAIRNS,
immediately-upon the close of the hon. and learned
gentleman's remarks, rose in his turn for the
express purpose of exonerating Sir RICHARD
BETHELL from any blame whatever in adopt-
ing or acceding to the course which had just been
announced. On the contrary, far from blaming Sir
RICHARD BETHELL, the late Premier's ex-Solicitor-
General remarked emphatically that he believed
they would all join in expressing the debt of
gratitude, which was Sir RICHARD BETIIELL'S due,
for the labour he had bestowed upon the bill just with-
drawn in the name of the Administration. It is the
recollection of this, indeed, which lends peculiar
poignancy to our regret that so much labour on
the part of so gifted a lawyer in the preparation
of a bill in itself of such extraordinary. importance,
should for this session go for nothing and be

lost altogether. The bill had gone so far
that We would fain have had it go yet
a little further. It was ripe for the gathering. A
night or two longer and it might have passed
through). its remaining stages, and before the proro •
gatio't have been perfected into an enactment worthy
of redeeming all the many shortcomings of 1860 in
the way of beneficent and comprehensive legisla-
tive achievements. Such, however, was not to be—
and the bill is quietly cushioned. The whole session

is certainly thereby rendered more of a piece—but
that can be regarded as anything assuredly but a
Source of satisfaction to any one. We can only
regret that Ministers should thus have lost their
last Opportunity for adorning the session of 1860
with one good and wise act of legislation, capable
of reflecting glory and honour upon themselves as
an. Administration.

The Edinburri4 Rebiiew and the Ballot! Who
will not read, mark, learn, and inwardly digest?
After an incubation,
too,r '''. on the subject, we are
told, of nearly 30
yea just after the great
Reform Bill it did not like, what a liberal review
ought, if it could, to have warmed into life, and
since then Long brooding „
better reason
' the matter
only confirmed its aversion. Pot
o'll has
our quarterly contemporary had betr haveos
-- Teo
nothing about the time o sup
it is intended to meal SYDNEY SMITH to our recol-
lection; but we must acknowledge that the memory
of wit and humour on the wrong side makes it very
hard work to get through very dull wrongness.