The Sun.
London, England, 1856-12-20 00:00:00

METROPOLITAN BOARD OF WORKS,

The ordinary meeting of the Metropolitan Board of
Works .vas held yesterday in the Chamberlain's Court,
the Council Chamber being occupied—Mr. J. Thwaites
in the chair.
The minutes of the last meeting were read and con.
firmed. The cash account showed a total general
balance of £97,096 Bi. 41.
COMPENSATION.

An appeal was made by Mr. Pulley against the deter
ruination of the Board of Works for the Hackney dis-
trict, refusing him compensation for the loss of his
offices as clerk to the Highway Board, and to the
Trustees for Lighting, &c., Hackney.
It was resolved that Mr. Pulley do receive an
amount of £77 10s. for life.
PURCHASING PREMISES.

The next business on the paper was the further con-
sideration of the report of the Committee of Works, &c..
recommending that the application of the vestry of Ber-
mondsey, requesting that this board will purchase cer-
tain premises in Feudal-street, Bermondsey, at a cost
of £l6O, for the purpose of widening such street, be
complied with, and that such premises be purchased
by this board accordingly.

After some discussion it was resolved that the subject
should be adjourned to a future day, for the clerk to
givo a legal opinion on the whole question.

STREET NOMENCLATURE.

Mr. D'IFFANGER asked permission to withdraw that
portion •f his report on street nomenclature, which sug-
gested the baptismal table of certain streets and places,
with the names of certain members of the metropolitan
board.

The CHAIRMAN stated that several strong protests had
been sent in to the board on the particular question.
Mr. Deputy HARRISON protested against any report
from a committee being altered or modified atter it had
been printed.

Mr. CARPMAEL had been told that the report had re
appeared in the Observer, and he ,(Nir. Carpmael) treated
it as a joke—(laughter)—and he was surprised to find
his own name among the number.

The CHAIRMAN said that no copy waa sent to the
newspapers from that board.
The discussion then dropped.
STREET PROJECTIONS.

A third application was received from Mr. Jas. Batty
asking the oonsent of the board to the extension of the
bar of his house seven feet beyond the present front, four
feet being given to the footway.
Mr. BURSLEN, as a member of the vestry in which the
premises are situate, said he only yesterday inspected
them, and he believed that if the house was brought out
as requested, the erection would be unobjectionable.
This subject led to a long and animated discussion, it
being contended that it was the duty of that board to pre-
vent such erections, as they tended to diminish the width
of the public thoroughfares, and to interrupt the free cir-
culation of light and air.
The application was then put in the form of a motion
and negatived.

After some uninteresting business being disposed of,
he board adjourned.

PROTEST AGAINST THE DECISION OF THE BOARD AS TO
THE OUTFALL OF THE METROPOLITAN DRAINAGE.

Mr. Crellin handed in the foliating protest against
tho decision of the majority of the board in favour of the
engineer's plan marked B* :
" 1. Because the discharge of the sewage into the River
Thames at the place indicated by such plan is calculated to
injure the health of those residing in the neighbourhood,
and. of all persons passing up and down the part of the
river.

" 2. Because no inquiry has been made by the board as
to the probability of disposing of the sewage of the metro-
polis for agricultural purposes, in harmony with the engi-
neer's report of the 25th September,pages 7 and B,in which
is the following statement :—` The substitution of deodo-
rising works for reservoirs at Barking Creek and Plum-
stead Marshes involves the smallest expenditure of capi-
tal, but the largest annual outlay. The capital would not ,
therefore, be irrevocably sunk ; and this plan presents the
following advantages—viz., that if the sewage manure
should be found to be of a commercial value, it would be
valuable for sale; or should any mode hereafter be dis-
covered by which it could be rendered more profitable, or
deodorised more economically, advantage could hereafter
be taken of any such improvements. On the other hand,
should it appear that the solid manure was altogether
valueless, a considerable saving might be effected in the
manufacture, by merely precipitating, deodorising, and
carrying it away, and thus dispensing with the drying
process and preparation for sale. This process would, I
conceive, entirely remove the sewage from the river, and
in a practical point of view; and by preserving the sewage
in a dry, inoffensive, and portable condition, it would test
the very prevalent opinion that metropolitan sewage can
tins profitably be applied to agriculture. A further saving
of probably nearly half a million might, however, be
effected by terminating the sewers and establishing deodo-
rising works nearer to London, say in the Greenwich
marshes on the south side of the river, and the West Ham
marshes on the north side, which would, in our judgment,
accomplish the object desired without creating a nuisance.'
(Signed) "J. WILKINSON.
P. CRELLIN."

Tile ARCTIC SHIP RESOLUPPI.

PORTSMOUTH, DEC. 19.

To-day having been especially fine, the ship has been
visited by numerous parties, who have been shown over
her with the politest attention by the American officers.
The ship was handsomely dressed in colours in honour of
the Queen's return to Gosport to-day, and her accommo-
dation ladder was decorated in the event of any
from the Royal yacht being made. Oa the Fairy passing
up the harbour to the Clarence-yard the officers mounted
the bulwarks and the crew the rigging, aed gave three
times three hearty cheers, led off by the vice count, Che-
valier Pappalardo, who, in the absence of Capt. Hart-
stein, attended on board. Her Majesty and Prince
Albert graciously acknowledged the enthusiastic greeting
of the Americans by repeatedly bowing from the gang-
way of the Fairy.
Capt. Hartstein has accepted the invitathn of the
Mayor and Corporation of Portsmouth to dine with them
on Wedue,day next. The banquet will be provided by
Mr. Digby Dent, of the Portland Hotel, at the halt of
tha Beneficial Sooiety in Portsea. The British officers
formerly in the Resolute who are now in England will,
we believe, be invited to meet their American brethren.
This is the only entertainment the American visitors can
avail themselves of, owing to an order for their speedy
return to the United States, whither they will be con-
veyed in her Majesty's first-class paddle steam frigate
Retribution, 28, Captain Barker. A telegraphic order
came down from the Admiralty to-day, stopping all
leave from the Retribution, and recalling all officers and
men who are absent.
Among the distinguished persons who visited the
Resolute to-day were Major-General Breton (the Lieut.-
Governor of Portsmouth) and Staff, Colonel Eyre,
Commandant of the Royal Artillery in the South-West
District, &c.
To-morrow evening the captain and officers of the
Resolute will be entertained at dinner by Vice-Admiral
Sir George Seymour, K.C.8., the Commander-in-Caief,
who has invited a distinguished circle to meet them at
the Admiralty.
Captain Hartstein received an invitation to-day to
visit Viscount Palmerston at Broadlands, and be will go
on Monday in the company of Vice-Admiral Sir George
Seymour.

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LONDON CHARTERED BANK OF AUSIRALL4

An extraordinary general meeting of proprietors in
the above company was hell yesterday at the London
Tavern, the object being the declaration of a dividend.
From an abstract of the profit and loss account read at
the meeting, it appeared that a dividend of 2 per cont.
was paid in Dec., 1855, amounting to 11,0001. It was
now proposed to pay a further dividend at the rate of 5
per cent. per annum up to June, 1656, and there would
re nain on the profit side of the account a sum of 2,5071.
10s. Bd, .
The CHAIRMAN, with one or two observations, tender-
ing infornation if required, proposed that a dividend at '
the rate of 5 per cent, per annum, up to the 30th June,
1856. be dux arid payable on the 15th Jan. next.
A Slut:tumid:ma asked whether it could not be paid
sooner
The CHAIRMAN said it had usually been paid on the
15th of Jan. and the 15th of July, and the great number
of shareholders (900) reildered it difficult to get through
the list sooner
Mr. MOCATTA complained of the smallness of the divi-
dend. The Bank of Australasia, he said, paid 20 per
cent., and surely between that and 5 per cent. was to,
great a difference. Last year all their dividends were
trittered away in expenses, and this year he feared the
latter would also be enormous. In his opinion the divi-
dend ought to be at least 7or 8 per cent, Money was
very scarce, and had b- en able to command high rates
both at home and in the colonies. Under these circuit).
stances a much higher dividend might have been realised
but for the enormous expenditure, which absolutely ate
then► up. He wished to have answers to two questions
—First, what was the amount of the securities held by
the bank ;.and, secondly, what actually was the gross
amount of their expenditure ?
The CHAIRMAN said that in the balance sheet which ,
bad been furnished a considerable amount was struck

off far bad debts. The Bros profit for the half-year was
27.675/., but 10,3001. was deducted for bad debts and pro
pmion of preliminary expens,,,-. The amount of Rem
rities held, and which paid no interest, was 530,0001,
no inconsiderable amount when they reflected how young
wa,- their ins,itution. As to the expenses, he admitted
they were heavy, but it must he recollected that the
principal p r i n of their business was carried on at a dis

tance of 14 000 miles, and in a plebe where the whole
scale of expenditure was much higher than in this coun-
try. With respect to bad debts, be thought 3,0001.
would cover their loss on that score. They must recol-
lect that during the three years they had been in busi-
ness the bankruptcies in Melbourne bad amounted to

two millions, and, of course, a good deal of that loss fell
on young concerns. With respect to the Bank of Aus-
tralia, it should be remembered that for the first six years
it paid no dividend at all, and it was generally believed
that, at the commencement of the gold discoveries, it
made an enormous profit by buying gold at
2/. 10s. the ounce and selling it at 4/. 12s. The
directors bad, perhaps, a large nest-egg of this gol I
still left, and dealt it out gradually to the shareholders
in the shape of 20 per cent, dividend. (A. laugh.) They
(the Bank of Australia) had paid 4 per cent. from the
cqmmencerzent, and he had every hope that the divi-
d mds would steadily improve. As regarded the expen-
diture he could not hold out any hope of reduction at
the present moment.

A SHORE lOLDER asked what proportion of this divi-
dend would go to the holders of new shares
TAO CHAIRMAN—There would be six months dividend
on 550,0001. and three months on 50,0001.
After some conversational discussion, in the course of
which suggestions for the formation of a reserve fund
were thrown out,

The re:olution, declaring a dividend at the rate of 5
per cent, per annum, uas put and agreed to.
The CHAIRMAN took occasion to pass a warm eulogium
on Mr. Brown, one of their directors, who had gone out
t Australia personally to inspect the affairs of the bank.
Mr. Brown's services had been most valuable to the

cJuipany,*and he bad returned to this country with the
most sanguine hopes as to their future prosperity.
The proceedings terminated with a unanimous vote
of thanks to the chairman and directors.