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

THE UNION BANK OF LONDON.

The dividend of 5 per cent. for the half-Sear de-
clared on the 11th inst. by the Union Bank of Lon-
don will b 2 paid to-day in due course, the applica-
tion for an injunction having been refused. The
judgment of the Vice-Chancellor, however, seems 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. Butjust 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.—Tinzes' City Article.

DEATH OF LORD ELPHINSTONE.—We regret to
announce the death of the Right Hon. Lord Elphinstone,
n±s_tone,
which melancholy event took place yesterday 1 lii
street, St. James's. The deceased nobleman, who::
Baron Elphinstone, in the peerage, of Scotland,
Atter having
in 1807, and succeeded his father in 1813.
Presidency from
filled the office of Governor of the Madras_u.,orl bol3mth-
ti after
1837 to 1842, he returned to England
again visited India in a private capacity,
ts well as in Cash-
he was a Lord
an; bd
travelled much
through our possessions in Ilindostan
.Th _land,
mere. Having again returneditio4f, g
to February, 1852, and
during the latter part of his
in Waiting to the Queen f"72853, when he was appointed
from January to October,
thanks
of It
the occasion of the outbreak of the
Governor of Bombay.
tenure of this office, on
displayed
that Lord Elphinstonean amount
Indian mutiny,
which secured him the hearty good-
willarwlfilsament for great services,
of tact and resolution _
suppression of
of all parties. On the of thathis outbreak he
the
Grand Cross of Bath, and also created a
wasaro nin the Peerage of the United Kingdom. His lord-
ship,receivmedadtehea than
our readers are aware, had only recently returned
as
to England, having prolonged his stay in India at the ex-
press request of the Government. That delay, however
beneficial to the public interest, proved fatal. to a constitu-
tion already enfeebled by a tropical climate and worn out
twith work. Lord Elphinstone returned to England onl
co expire ; he sank from no organic diseases, but from sheer
pxhaustion, and has thus adde another t,, that long list of
fu blic servants 'whose lives have been sacrificed in the
aithful discharge of their onerous duties..
GRIMSTONE'S EYE SNUFF.—A certificate proving the
virtues of this snuff, from Dr. Ure, M.D., F.R.S., 25,
Keppel-street, Russell .square :—" I hereby certify that the
eye snuff invented and manufactured by Mr. Win. Grim-
stone, of the Herbary, Highgate, is quite free from tobacco
and composed of herbs, capable of exciting mildly the pitui-
tary glands, without exercising any subsequent narcoticre
aci ion on the optical organs. This snuff is therefore
adapted to relieve congestions affecting the brain and T!
vision.—Andrew Ure, isl.D., F.R.S., professor of Lor
il
try and analytical chemist." The above is the result
13- the Spanish
analysis of Grimstone's eye snuff, requirede
),3'
le free this
Consul-General (Marquis of Bayamo, Sr:
snuff from tobacco duty is the Spanish doeuumw .