The Sun.
London, England, 1866-09-13 00:00:00

THE SUN, LONDON, THURSDAY EVENING, SEPTEMBER 13, 1866.

POLICE INTELLIGENCE.—This Day.

MANSION-HOUSE.

ENBEZZLEMENT.—WiIIiam Kempston, a genteel youth
about 17, was charged before Mr. Alderman Lusk with
stealing £lOO, tho property of Messrs. Gow, Butler, and
Co., Friday-street.

It appeared that the prisoner was sent on the 11th of
August last to the bank of Messrs. Glynn and Co. with a
cheque for £lOO, drawn by his employers. The money
was paid, but the prisoner disappeared, and was not heard
of until last week, when ho surrendered himself to the
police, and confessed that he had received the money, all
of which he bad spent.
Mr.H. Durnphey, barrister, appeared on behalf of the pri-
soner, and made a very earnest appeal to the worthy alder-
man•to deal with the case summarily, considering the youth
of the prisoner, that it was his first offence, and that his
character was ruined.

Alderman Lush said that; notwithstanding what the
learned counsel urged, the case was of a nature and mag-
nitude that prevented his dealing with it summarily, and
he committed the prisoner to take his trial at the Central
Criminal Court.

Bank of England.

HALF-YEARLY MEETING—(This DAY.)

The ordinary half-yearly meeting of the pro-
prietors was held to-day in the Bank Parlour ;
Henry Lancelot Holland, Esq., Governor, in the
chair.

The minutes of the last Court having been read
and confirmed,
The GOVERNOR said he had to acquaint the Court
that that was one of the quarterly general courts
appointed by the charter, and also that it was one
of the half-yearly general courts appointed for the
making of a dividend ; that the set profits of the
half year ending the 31st of August was £970,014
17s. 101, making the amount of the rest on that
day £3,981,783 18s. 11d. After providing for a
dividend of 61 per cent., the rest would be
£3,035,838 18s. lid. Ile had, therefore, to move
that the dividend mentioned be declared without
deduction of income-tax, payable on the 10th of
October. Previous to putting the question, he could
not refrain from making one or two observations,
because important events had occurred since they
last met, and a great strain had been put not
only on that house, but upon the banking trade
of London. The joint-stock banks, however, ac-
quitted themselves honourably during the trial, be-
cause such was the peculiarity of the banking busi-
ness that the least blast of suspicion was generally
quite sufficient to sweep away the whole of the hard-
earned harvest. The mannerin which the " drain"—
he would not call it a "run"—had been met was
highly satisfactory, and as the Bank had exerted
itself to the utmost to prevent disaster, he hoped the
proprietors would not think it liable to blame for the
tornado of the 11th of May. He felt that the pro-
prietors would be of opinion that the directors had
done their duty during the excited state of things
to which he had referred. He therefore begged to
move the adoption of the recommendation with re-
spect to the dividend. •
Mr. Hi acts said before the question was put he
just wished to say a word or two. As the 11th of
May had been mentioned he thought it would have
been better had the Bank directors applied to the
Chancellor of the Exchequer earlier than they did.
Had it not been for the appearance of the letter of
the Government, the state of things would have been
worse on the morning of Saturday, the 12th, than
it was on the memorable Friday, the 11th of May.
Mr. JONES thought the Bank directors would be i
performing a great public benefit if they would
'inform the proprietors what was the cause of the
great panic. Of course the failure of such a great
house as Overend's could not occur without causing
great alarm, but, according to his opinion, the great
cause of the state of things was excessive over-trading.
He felt the Bank directors had exercised a wise discre-
tion in resisting an inflated paper currency, because
such an act could but be productive of ill conse-
' quences to the industrious classes. He there-
fore hoped the directors would continue their re-
sistance to the increased issue of paper, and that
they would take into consideration the advisability
of paying some of their dividends at the "West-end
Branch, because it was becoming rather a nuisance,
in consequence of the enormous traffic, that every-
thing should be done in the City.
Mr. MoxoN said be should like to know what
amount of bad debts the Bank had, because out o
3oors it was said that they had in their possession
between two and three millions of bad bills. He
should also like to know -whether the Bank
held any bonds of the railway which had gone
into default, and taking various matters into
consideration he should move a resolution
to the effect, that it would be desirable
to appoint four or five gentlemen as auditors to
certify the accounts. He did not do so in any spirit
of distrust, only he thought it would be a very
judicious proceeding supposing his suggestion was
adoptnd.
111 r. GASTENBERG said when the news of the sus-
pension of the Bank Charter got abroad there was
a feeling on the Continent that he Bank was about
to suspend specie payment altogether, and therefore
the directions received from many countries were
invariable to remit in bullion. He felt that the
greatest advantage to the Bank would result by the
issue of a £l-note. It would bring a large amount
of bullion into the coffers of the Bank, and all un-
just suspicion would be at once removed.

Mr. W. BoDLEY said at their last meeting the
propriety of receiving money on deposits was sub-
mitted to the directors, and they had promised to
consider the matter. He should like to know if
any determination had been arrived at ?

Alderman SALOMONS said nothing could be more
graceful than the compliment paid to the joint-
stock banks by the chairman, and for that he
heartily thanked him. He felt it would be satis-
factory not only to the banks themselves but to the
country at large.

The CHAIRMAN said, with respect to the giving
interest on deposits nothing could be more dangerous
to that house. (Hear, hear.) The downfall of Over-
ends had been caused by holding money at call and
putting it out at interest, and when the call came the
money was found to be at all quarters of the globe,
and in some instances at the bottom of the sea.
With respect to bad bills, he had heard the rumour
more than once, but be had never been able to trace
it to its source, and he should feel pleased if Mr.
Moxon could help in the discovery. He did not
believe that the proprietors thought the directors of
the Bank such fools as to lend money without good
security—(hear, hear, and laughter) ; but if he
were to tell them the amount of bad debts they had
made they would scarcely believe him, the amount
was so insignificant. (Hear, hear.) With respect
to the dividend, which was one of the largest
ever declared in that room, he could assure them
that it had been honestly and hardly earned. It
had not been got without a great deal of watching
and anxiety. With respect to the appointment of
auditors, if the proprietors bad confidence in the
directors such an innovation was unnecessary.
(Hear, hear.) If the proprietors had not confidence
the present directors ought not to be in office. It
had been said that they had locked up the coffers
unnecessarily, but with a capital of 14 millions, and
a rest of three millions, there must be locking up
of some description ; and with respect to the Bank
not having made sufficient advances, all he could
say was the assertion was made in ignorance of
the facts of the case. They had advanced over
forty millions in three months, and if that was not
giving assistance he did not know what was. They
were prepared for greater things, but happily mat-
ters had taken a favourable turn. With respect to
railway securities, the Bank held but a few, and
they were of the first description. They held no
London Chatham, and Dover, but he did not wish
ho believed that concern would
again
be personal, as
aain come round. He Would, without further
remark, put the resolution for the payment of the
dividend.

%ALS •
The resolution was carried unanimously.
The amendment of Mr. Moxon was submitted to
thee g et
roeunidng., but, not finding a
seconder, it fell to
h
A vote of thanks to the
the
governor and directors
terminated the proceedings.

JUDGE AND CONY-XT.—Samuel Covert was exe-
cuted at noon on the 23d of. August at Lebanon, the capital
of Warren County, CiiTnnati. After breakfast Judge
Smith, who presided at his trial and passed upon him the
you feel, Mr. Covert ?" asked
sentence of death, called in and shook hands with the pri-
soner. Covert asked him, to be seated, saying, "I am glad
considering circum-
stances." After a little conversation. about his relatives,
Covert. rose from tthoesJeeudygoeu., 811:11Vel‘l,h1ofeweldporetty well,
Covert was requested to write his autograph, and
to depart, said to Covert as he took him
imme-
diately complied. The prosecuting. attorney, Allen, having
come in, he shook hands with him quite cordially, and
dsinslgiook it warmly, " Good by, Mr. Covert, I
,bl
yu dt ghee Smith,h
an d a rising
his seat, looked
the Judge fairly in the eye, with a firm though not unkindly
glance, and said, " Good by, Mr. Smith, and remember my
shall not see you again."
last words to you, that you have passed sentence of death
upon an innocent man." The Judge, visibly affected, asked,
" That is so, is it, Sam ?" " Yes, sir ; as true as there is
a Clod in heaven." "If it that bo true, you have nothing
against mo have you, Sam ?" "No, sir; you did your
duty under the evidence."
" Well, Sam, if that be true
that you aro an innocent man, it is a great calamity." "I
am innocent.," he said, very firmly. Tho Judge then de-
parted, and Cov9l:t was marched to the scaffold.—Neiv
York. licraW.

Red-hill Reformatory.

The annual "harvest Home" in connection with
the Philanthropic Society's Farm School, Red-hill,
Surrey, was held yesterday. The institution was
established in 1788, was incorporated in 1806, and
was removed from St. George's-fields, Southwark,
in 1849. Its object being the reformation and moral
and industrial training of juvenile criminals, a large
number of metropolitan and provincial philanthro-
pists attended tilt festival, which, however, was more
pastoral in name than reality. But although there
was no garnering of rich sheaves, as the suggestion
of harvest home would indicate, the close of a long,
trying summer and the labours of some 289 boys
during the various stages of the crops were properly
celebrated by a holiday in which one and all parti-
cipated. To those interested in the much debated
question of juvenile criminal treatment a leisurely
inspection of the school grounds would prove pro-
bably more effective than a year's mere reading of
statistics and reports. Entering the property from
the railway station, the visitor has before him some
240 acres of -land, the whole of which is worked by
the Boys usually admitted under the direction of a
farm bailiff and various labour masters. Whether ,
the field be grass, clover, mangold, turnip, or
stubble, the impress of culture, care, and diligence_
is manifest on either hand, and in the chaplain's
garden the cultivation is of an . absolutely enviable
kind. The weather until yesterday afternoon was
fine enough to allow such visitors as were disposed
to stroll to each of the separate houses over the farm
in which the five families of 50 each are domiciled
under the master and his wife. The programme on
the establishment is the same as has been detailed
on previous occasions, and it includes religious
exercises, lessons in Holy Scripture, reading,
writing, arithmetic, digging, draining, reaping,
milking, stock-culture, brick-making, tailoring,
shoemaking, smithery, carpentering, laundry work,
and other occupations: The society, although it
has made agreements with several counties and,
boroughs to take a limited number of criminals, and
although it is' one of the pioneer reformatory insti-
tutions of the country, may be said to be a strictly
private philanthropic institution. At the same time
the act of incorporation defines the objects of the
society's interference to be the children of convicted
felons or children who have themselves been guilty
of criminal practices. During last year 69 boys
were admitted. The condition of the school con-
tinues to be highly satisfactory. In 1865 about 73
boys were discharged, of whom 18 emigrated, 16
went to service, and 3to sea. There are about 259
at present in the school. Up to Dec. 31, 1865, 812
boys had been received under the Juvenile Offenders
Act, of whom 175 had emigrated. The festival
yesterday commenced with a thanksgiving service
in the school chapel, which is situated at one ex-
tremity of the farm in the midst of flower and
vegetable gardens full of wealthy bloom. The
chapel was tastefully decorated throughout with
evergreens and flowers, and each column was
crowned with a Lilliputian wheatsheaf. The scho-
lars, in their clean white blouses and corduroy
trowsers, occupied the seats facing the pulpit, and
the visitors occupied the nave. It was touching to
hear the young outlaws joining in hymns of thanks-
giving,
the majority of the voices being in that
nondescript stage which is neither treble nor bass.
However, they all sang heartily together, calling
upon great and small to join them in imploring that
the sacred garner might be their ultimate portion.
After a brief service, the Rev. E. Monroe, of Leeds,
preached a sermon. It hardly lasted 20 minutes, and
was neither read nor intoned ; therefore it rivetted
the attention of the young criminals under the
shadow of the pulpit, and the kind, brotherly tone
and expression of the preacher made more than one
eye moist. The subject selected was that of Ruth
and the reapers in the field of Boaz, and it was so
handled that he who " ran might read." The
service over, the boys marched under their ban-
ners, and headed by their band, to the play-
ground, where, unfortunately, their enjoyment was
considerably diminished by the persevering rain that
set in just before the benediction was pronounced.
Between five and six the lads crowded into a tent
between the parsonage and the chapel, and there
partook of their usual annual supper. The chair
was taken by Mr. Gladstone, who addressed worts
of encouragement to the hearty and intelligent-look-
ing boys who heard him. They sang a considerable
number of glees during the evening. One of the
most interesting facts of the day was, that at the
close of the chapel service a collection was made for
the Chapel Improvement Fund, which was origi-
nated by a boy who, after being discharged from
the school, had emigrated to the African colonies,
and had at the earliest opportunity sent home £5 as
a thank-offering. The donor, now a respectable
member of society, happened to be present at the
festival. The whole arrangements were superin-
tended by Mr. C. Walters, the resident chaplain,
and Mrs. Walters, whose services in the cause were
best illustrated by the tokens of affectionate respect
invariably paid by all the scholars who approached
them.