The Sun.
London, England, 1835-07-30 00:00:00

WEST INDIA LOAN.

JMPERIAL PARLIAMEN T.

TREASURY CHAMBERS, JULY 29, 1835.
.
Proceedimvs at the Preliminary Meeting respecting the Loan
for 16,000,000 i. proposed to e
under the authority
d the Acts 3 and W. IV., cap. 73, for 14,3 compensa-
to,clwifecS of , . . „
Ihe following gentlemen attended this Meeting Sri anise-
quence of the Chancellor of the Exchequer's letter to the
Governor and Deputy-Governor of the Bank of England of
the 25th inst., to hear the terms proposed for the said Loan :
—Messrs. Rothschild, Montefiore, Sir J. R. Reid, Irving,
Baring, Mildmay, J. L. Goldsmid, Ricardo, Robertson, Hob-
house, Wood, &c. &c.
The Chancellor of the Exchequer observed, that in the ar-
rangements which had been determined upon by Lord Mel-
bourne and himself for giving effect to the intentions of Par-
liament on this subject, it had been their earnest desire to ac-
complish the object in such a manner as, whilst full justice was
done to the persons entitled to compensation, care should also
be taken to produce the least disturbance or pressure on the
money market, and to avert any inconvenient alterations in the
state of the circulation.

The measures proposed were-
-Ist. To contract for a loan of 15,000,0001., and to spread
the instalments over a period ending on the 13th of Septem-
ber, 1836.
2nd. To give to those claimants to whom payment should
not be immediately made from money in hand, arising from the
instalments, certificates bearing interest, payable to bearer at the
Bank of England. These Certificates to be specifically charged
upon the instalments of the Loan ; and also receivable at the
Bank, as part of the subsequent instalments on which they arc
specifically charged.
The Chancellor of the Exchequer then stated that it was
proposed to give for every 100/. subscribed in money the
amount of 75/. Stock 3 per Cent. Consols; 25/. 3 per Cent.
Reduced, and to receive the biddings for the further amount
in Long Annuities, expiring the sth of January, 1860.
The interest on the 3 per Cent. Reduced and Long An-
nuities to commence from the sth April, 1835.
The interest on the 3 per Cent. Consols to commence from
the sth July, 1835.
An allowance of discount, at 21. per cent. per annum, in the
usual manner.
No reserve for Public Companies.
The days of payment to be as follows :
Deposit RIO per cent. £1,500,000
16th October, £lO
13th November, £7i
11th December. £7i
13th January, 1836, £lO
9th February, £9
11th March, £9

12th April, £9
10th May, £6
14th June, £5 750,000
12th July, £8
16th August, £5
13th September, £4

1,350,000

£15,000,000
The biddings to be made on Monday next, at this Office,
at 10 e. M.

As it was several years since a Public Loan had been con-
tracted for, the Chancellor of the Exchequer said he thought
it right to inform the parties, that, on the morning of the
bidding, the usual course would be observed, by his laying on
the table, previously to his opening the Tenders, a sealed
paper, containing the highest terms that the First Lord of the
Treasury and himself would feel they should be justified in ac-
ceding to ; and that in the event of the Annuity asked for in
the several proposals exceeding the amount specified in the
sealed paper, it would in such case be opened, and the amount
in it declared.

With reference to the remaining sum of 5,000,0001. to com-
plete the West India Grant of 20,000,0001., but which is not
raised by the present Loan, the Chancellor of the Exchequer,
said it would not be necessary for him to make any arrange-
ment for raising 3,300,0001. of that sum, in the present session
of Parliament, in consequence of the claims from the Mauritius
and the Cape not coming into course of payment for a consi-
derable time ; and in respect to the money for Barbadoes,
it stood upon a distinct footing from the rest; the Act for
that Colony having been declared by the King in Coun-
cil to be inadequate and unsatisfactory, powers would there-
fore be taken in an Act of the present Session to write in
the amount of stock in the books of the Bank of England,
which would be eventually transferred to the claimants of
Barbadoes, but which could not, under any contingency, come
upon the market otherwise than gradually, and in proportion
as the several claims of the proprietors are affirmed by the ad-
judication of the Commissioners.

WORCESTER CORPORATION.

DEFEAT OF THE TORIES.
TO THE EDITOR OF THE SUN.

MR. EDlTOR—Yesterday the Conservatives in this City and
those supporting the existing Corporations were doomed to a
defeat to them quite unexpected. During the last week a
hand bill made its appearance in this City, evidently issued by
the Minions of the Corporation, calling on the Lessees,
Mortgagees, and others interested in Corporation property,
to meet at the Crown Hotel, to consider the propriety of
petitioning the House of Lords against the 90th clause—
which provides " that no leases shall be granted for a longer
term than thirty-one years, and that the Council shall take no
fine for the same, but such clear yearly rent as the Council
shall think reasonable." This clause appears to have excited
in the minds of the Tories considerable alarm—they conceiv-
ing, notwithstanding the clear wording of the clause, that it
would be imperative in the Town Council on a lease running
out to let the property to the highest bidder, without regard to
the vested rights of the present possessors, and at the highest
rent that could be obtained. The Meeting was held yester-
day ; and on my entering the room I perceived a due muster
of the Body Corporate, all in high glee, hoping to carry their
point unanimously. Alas! how vain are the hopes of man !
By and bye in came parties of a different caste, and it was soon
visible that the callers of the meeting (whoever they were)
would be in a glorious minority. The chair was taken by John
Williams, Esq., a renegade from the Liberal ranks, though I
must give him the credit to say he discharged his duty most
impartially. Mr. J. B. Hyde, a solicitor, and a member
of the about to be defunct body, attended with the resolu-
tions to be proposed, and a petition prepared, but
will you believe it, Mr. Editor, they dared not make
one single proposition ?—No, not even produce the pe-
tition they had drawn. In the hand bill calling the meet-
ing they stated that the Corporation property would be
depreciated 50 per cent.—The Meeting, however, not relish-
ing the parting without any Resolution, at last, greatly to the
discomfiture of the Tories, it was moved and seconded, " That
it was the opinion of the ‘leetine. that property would not be
depreciated as stated by the callers' of the Meeting, and that
therefore it was inexpedient at present to petition the Legis-
lature." This motion, after considerable sparring, was put
from the chair, and carried by a large majority. On this the
Mayor, who during the whole of the Meeting had been the
only individual who had created the slightest interruption,
now got up, and, like a roaring lion, denounced, in the
strongest terms the conduct of the Meeting, stating that his only
motive was to save his property--adding, " So help me God 1"
I ought to state that this individual is a holder of Corporation
property, of the value of about 1201. per annum, and on the last
renewal, which took place not long since, instead of his fine, be-
ing according to the treatment meted out to others, 1201., he
had only to pay 30/. Well may he dread the cleansing of the
Augean stable I ! I am, Sir,
Yours, most obediently,
A REFORMER.

Worcester, July 28th, 1835.

ALL SAINTS, ST. CLEMENT, AND ST. JOHN'S

REGISTRATION SOCIETY.

REFORMERS!

THE ELECTIONS ARE ON I Y TO BE GAINED BY A VIGILANT
ATTENTION TO THE REGISTRATION OF VOTERS.
SEE THAT ALL GOOD VOTES ARE ON THE

LIST 1

Every occupier, as owner or tenant of a home, warehouse,
counting-house, shop, or other building, separately, or jointly, with
land, within the borough, occupied as owner, or as tenant under
the same landlord, of the clear yearly value of 101., provided he has
occupied the premises for twelve calendar months before the last
day of July, and during that time been rated in respect of such pre-
mises to all rates for the relief of the poor, and paid before the
20th of July, all Poor Rates and Assessed Taxes due before the
sixth of April previous, and resides within the borough, or within
seven miles thereof,

IS A GOOD VOTE !
Joint occupiers. when the yearly value of the premises is of en
amount which, when divided by the number of occupiers, gives a
sum of not 16ss than 101. for each, provided they have duly occu-
pied and been rated, and paid the rates and resided within the dis-
tance as above mentioned,
ARE GOOD VOTES!
Occupiers of different premises in succession, provided they have
complied with the above conditions,

VIE SUN, ).401STPON, TIIMISDAY, JULY 30, 1835.

ISO US] • • d'r LORDS,
(-,•„, JULY 29.
• • •••••• the _Woolsack at
The Vicg-ChAfictumit took his b,..•
•
five o'clock.

Lord S ALTOUN presented a petition from a place in
Scotland in 5 'ort of the Established Church of that country.
ul;,-
The gad of RusSLAN presented two petitions to the
same effect;
The Marquig of HERTFOFiII pre.tentA a petition, from
the borough of Ipswich, pitying that the rights and priviicgo
of the Burgesses may be preserved.
Messages from the House of Commons brought up some
private Bills.
A messenger from the Commissioners for building Churches
brought up an account of their expenses.