The Sun.
London, England, 1866-02-07 00:00:00

Yesterday, at a meeting of
Aldermen of London, held at Guild. ,ke
Mayor presiding, a complaint was made Thy
William Fisk, of St. Alban's, against Mr. Charles
Bennett, a sworn broker in the City, having offices
at 2, Copthall Chambers, in reference to a stock-
broking transaction. The complainant, Mr. Fisk,
said that Mr. Frederick Bennett had for some time
acted as clerk to Mr. Charles Bennett, his father ;
that on Sept. 6 last the complainant wished to buy
fifteen £2O shares in the Sevenoaks, Maidstone, and
Tunbridge Railway, then quoted as at par, and on
that day he went to the office of Mr. Charles Ben-
nett, where he saw his son Frederick, the father
not being then in attendance. He explained the
business to the son, and resolved to buy the railway
shares, with which view he had to sell some New
£3 per Cent. Annuities, which he possessed. Later
in the day he went with the son to the Bank of
England, and hold out £350 New £3 per Cent. An-
nuities, which realised £309 odd, and that sum he
handed over to the son to pay for the railway shares.
The son gave him the customary bought note signed
on behalf of his father, and handed the complainant
the balance,
£6 3s. 9d„ promising to send him the
share certificate in a few days, but that he had never
done, notwithstanding many applications that he
would fulfil his engagement. The secretary of the
railway company had written to the complainant, in
answer to a letter from him, that his name did not
appear on the books of the company as a share-
holder. On 6th January the complainant received
a letter from Mr. Frederick Bennett, the son, to
the effect that, on balancing his accounts at the end
of the year, he was somewhat deficient, and was
compelled to beg his indulgence for a short time,
while he was arranging his affairs. The writer en-
closed a promissory note for the amount due from
which note the complainant returned, declining
to accept it. Under these circumstances the com-
plainant prayed that the Court of Aldermen would
be pleased to put in force the bonds of Mr. Charles
Bennett, the broker in question, or to take such
other steps as to them should seem meet. It may
be stated that every sworn broker in the City gives
security to the Court of Aldermen, himself in
£l,OOO and two sureties in £250 each, for the duo
and just execution of his office. The Court exercises
a very stringent supervision over brokers in the
public interest, with a view to prevent collusion and
fraud, insisting particularly, with that view, that a
broker shall on all occasions act only between party
and party, and in no case as a principal. This is
understood to have been the only instance within
the last three years in which the Court has been
asked to exercise its penal jurisdiction. The answer
of Mr. Charles Bennett in this case, made by a
letter, was in effect that he had retired from busi-
ness about eight years ago in favour of his son,
that he himself was seventy-eight years of age,
and resided in the country, a considerable dis-
tance from London, and that, though he knew no-
thing of the transaction in question, he would have
been willing to make restitution to the party ag-
grieved if it had been in his power. His son Frede-
rick did not appear in court to make any explana-
tion. Eventually the Court referred the matter for
consideration to a committee of their body. A re-
port was presented by Mr. Alderman Stone, chair-
man of the general purposes committee, to whom, on
the 26th of January, it was referred to consider a
communication from the Chamberlain of London,
relative to the sale of freedoms of the City. The
committee stated that they had been attended by
the Chamberlain, whom they had heard upon the
subject, and, after due consideration, they were of
opinion, and recommended, that the sale of free-
doms should be no longer continued, and that the
charge of £25 upon the admission to the freedom of
" foreigners," thatis persons neither living nor trad-
ing within the City, should cease. The report was
agreed to, and the Court adjourned.