The Sun.
London, England, 1866-11-02 00:00:00

COURT OF CO

COUNCIL.

Yesterday a special meeting of the Common
Council was convened at Guildhall, and as there
was a general understanding that the Lord Mayor,
than whom there has been no chief magistrate of
the City of London so popular since the late Mr.
Cubitt, would avail himself of the occasion to take
lease of the Corporation prior to his relinquishing
office, there was a large attendance .of members.

THE MAYORALTY.

The LORD MAYOR, on. assuming the chair, after
the transaction of some routine business, said—
Gentlemen,—As this is the last occasion on which
I shall have the honour of presiding over this Court,
I cannot take leave without expressing my grateful
thanks to each and to every member for the great
courtesy and consideration I have received at your
hands. Gentlemen, I assure you these are not
empty words. They are words uttered from a grate-
ful heart, for whatever may be the powers of any
man who occupies this chair, they would be as no-
thing unless he had the confidence and encourage-
ment of those over whom he presides. I confess
this was one of the duties which I approached with
great timidity. I have sat in this court for a period
of twenty years, and with all my knowledge of its
various workings, I little contemplated the grave
and onerous responsibilities of the chief magistrate
in presiding over this assembly. I have the satis-
faction of knowing that I have faithfully and con-
scientiously discharged my duties. (Cheers.) Gen-
tlemen, your uniform courtesy and kindness, your
generous forbearance and consideration, in the court
and out of it, lead me to hope and believe that you
ratify that expression. (Renewed cheers.) I shin
retire from this office, by God's blessing, with health,
with strength, and with honour. (Cheers.) I shall
retire from it, not to lead an idle life, but to re-
turn into the midst of that Corporation
which has conferred upon me honours ever to be
cherished, never to be forgotten. (Cheers.) I owe
to the Corporation of London the proud position I
hold as its chief citizen, and hut for this great and
important body I might still have lived in compara-
tive insignificance. It is a position to be coveted,
to be envied, to be fought for, and to be won. I
have had the good fortune during the past year to
spend many happy hours—hours the pleasant recol-
lection of which I shall carry into my retirement, and
which will inspire me with hope for the future. Gen-
tlemen, we are here members of a great and impor-
tant body, a body that has in past days done great
"suit and service" to the community, and which I
believe is destined to carry on great municipal duties
and functions and great improvements for the com-
mon good, and to maintain unabated the freedom of
the citizens of London. (Cheers.) There may be
those, perhaps, who decry the Corporation. They
know nothing of its history and less of its working.
There may be those.who throw stones at us ; but I
hope they will permit me to tell them that they
themselves live in glass houses ; that we represent
here an old and valued institution—an institution
to be dearly prized, not only because it is at the
head of all the municipalities of the country, but
because it stands aloof from all political parties, and
in every act and deed proclaims the maintenance of
the liberty and independence of the people. I sin-
cerely hope it may flourish ad infinitum, and in tak-
ing my leave of this proud and noble position which
I have had the good fortune to win, I shall carry
with me the recollection of your friendship and en-
couragement, and I hope the Corporation may be in
the future, as it has been in the past, the bulwark of
liberty, and always identified with order and of pro-
gress. (Cheers.)
THE TAXING POWERS OF THE METROPOLITAN BOARD.
Mr. LOWMAN TAYLOR, having obtained the leave
of the Court to bring forward a matter of great
importance, said it behoved him, as one of the
representatives of the city at the Metropolitan
Board of Works to show the Court and his fellow-
citizens the position they stood in with regard to the
all-important subject of taxation. The citizens of
London, he continued, did not shrink from any lia-
bility, but they did not care to pay more thin they
had a right to pay, and he could assure the Court
that an inspection of a document just issued by the
Metropolitan Board of Works would show that, not
only was the city unjustly dealt with in other re-
spects, but that it would have to pay far more than
it ought to be called upon to pay. The rating for
the Metropolitan Board was based upon the county
rates, but as there was no county rate in the city
of London, the Metropolitan Board had previously
taken the rate in the city upon what was the nearest
approximation to the county-rate—namely, the
sewers'-rate, and upon this basis the city had been
taxed for the purposes of the Metropolitan Board.
But there had been a new Act of Parliament, known
as the Union Assessment Act, and under that Act
another body which had been empowered to revalue
the city, had, in the exercise of its powers, raised
the rating of the city to an enormous extent. As he
had anticipated, the Metropolitan Board had seized
this re-assessment as a basis for its rating. In Sep-
tember last, on the report of the ratings beim:,
brought forward, the rating of the City of London,°
based on the sewers'-rate of of £14,909, was shown
to produce £18,507. The report, as the Metropo-
litan Board was always anxious to have the largest
possible amount from the City of London, was re-
ferred back to have the Union Assessment ratint,
substituted for the sewers'-rating, and in Octobert'a
report was brought forward recommending that the
City of London, instead of being rated on
£1,500,000, to speak in round figures, should be
rated on £2,109,135, and instead of the city having
to pay £lB,OOO, it would have to pay upwards of
£26,000, being an excess of nearly £9,000. To
show one instance of the injustice pursued towards
the city, be would point out that while Middlesex and
Surrey only had re-assessment at long distances of
time, the city had been in the habit of annually add-
ing to its rates, and from 1856 to 1866 it had added
no less than £90,000, and this while Surrey had
only had one re-assessment since the constitution
of the Board.
sow, if the Metropolitan Board
did not see that the city was unjustly treated,
then the city itself should take steps to place itself
on a right basis. (Cheers.) There was another
question connected with this matter which was of
importance to the city. Seeing that great works
could not be carried out without money the money
to be spent ought to be represented at the board ;
but this was far from being the case. There were
small places around the metropolis, as St. Luke's
(Middlesex) Holborn, Rotherhithe, and other places,
sending in the whole a large number of members,,l
while the amount paid by those places was less in
whole than was paid by the city of London, which

on its part only had three representatives. Sir I;en-

jamin Hall, when he brought in the bill which con-
stituted the Metropolitan Board, could not have
been very favourable to the city, for whereas he only
allowed three members to the 98 parishes—and more
than 98 parishes—for there were unions in the num-
ber—of the city, he allowed the borough of South-
wark to have four members. The city of London
out not to rest satisfied until it had at least six
members—(cheers)—and he would move that the
documents he produced should be referred to the
Local Government and Taxation Committee, with
instructions to confer with the Sewers Committee,
and report forthwith.
Mr. RUDKIN seconded the motion.
Mr. Deputy BONE asked Mr. Taylor if he was
aware that the Chamberlain had received a precept
for £26,000 to be paid ?

- -
Mr. TAYLOR replied that he bad little doubt of
such being the fact.
The motion was carried unanimously.
THE SLAUGHTER-HOUSES AT THE CATTLE-MARKET.
Mr. Deputy CIIAPLIN brought before the notice
of the chairman of the Markets' Committee an ad-
vertisement in the City Press, stating that occupants
of the slaughter-houses at the Cattle-market had re-
ceived notice to quit, and were without any hopes
of receiving compensation. The advertisement was

signed " One who Suffers."
Mr. RUDKIN, in reply; said the slaughter-houses
were let upon an engagement that certain sanitary
regulations should be carried out by the occupants,
and that the tenancy would expire on six months
notice being given. Certain occupants bad not
carried out the engagements of their covenants, and

by their neglect the slaughter-houses had become a
nuisance. More than that, when the rinderpest was

RAILWAY AND OMER COMPANIES.

raging these occupants were ordered not to slaughter share capital, which it had not been found possible
diseased cattle ; but, instead of following the in- to make available. The large and increasing work-
struction, they actually sought out such ( attle, and ing expenses would require the instant attention of
when the cattle which they had received, contrary the directors, otherwise any increase of traffic would
both to the orders in Council and to the orders of be more than absorbed by the increase of expendi-
the Court, were destroyed, the slaughterers had the ture. With regard to the responsibility of the exe-
effrontery to ask for compensation. (Laughter.) cutive, the committee state that the system which
They had also put the Corporation to the expense the accountants employed by them traced in the
of providing a new system of drains—an expense of company's books " was not merely one of general
£44o—as it was found that carcases they wished to deception of the shareholders, and misrepresentation
conceal were dropped down the drains, half a calf of the company's affairs; it was not merely deliberate
and half a sheep being actually taken out. This i falsification of the accounts from year to year, so
statement, he conceived, was quite sufficient to show! as to show to the shareholders and divide among
that the commitee was justified in giving the tenants I them a revenue which was not in existence, and was
notice to quit. (Hear.) I known not to have been earned ; but it was a
THE JUDGE OF THE SHERIFFS' COURT. careful and most ingenious fabrication of imaginary
It was moved by Mr. GARRETT, the chairman of iaccounts, begun and carried on from time to time
Law, Parliamentary, and City Courts Committee, for the purpose of supporting the falsified half yearly
that the bye-laws of the Court should be suspended 1 statements of revenue and the general misrepresen-
in order to allow a report of the committee, in refe- 1 tation of affairs."
rence to the Judge of the Sheriffs' Court, to be I The report of the committee concludes with the
brought forward. To this several amendments were ' following, under the head " Remedial Measures."
proposed, the chief objection to the motion being that " The systematic concealment thus practised on
the subject should be entered upon at that sitting. i the shareholders, and the crisis which has ensued,
The amendments were, one after another, rejected, renders it absolutely necessary that the management
but the minority, holding their ground and calling of the affairs of the company should, without delay,
for a division after each amendment, succeeded in be placed in the hands of a board possessing the
driving off any business for upwards of three hours. confidence of the shareholders and the public, so
The question at length seemed upon the point of that such measures may be devised and carried out
being settled by the agreement that the report should as shall restore the character and position of the
be read, but not discussed, when a motion that the company, and insure that its affairs shall in future
report should not be read under any circumstances be conducted with integrity. As it has heen offi-
still kept the Court from proceeding. At length cially communicated to the committee that the board,
The LORD MAYOR asked the Court not to tax his at a meeting held on Oct. 23, resolved to place their
powers longer in his then state of weak health, as he seats individually in the hands of the shareholders,
had already sat many hours, and for the purpose of a new board being elected at the
The Court adjourned. meeting to be held at Edinburgh on Nov. 14, for
considering this report, the shareholders will then
have an opportunity of nominating the parties into
whose hands they are prepared to commit their pro-
perty and the future management of the company.
The committee have anxiously considered the best
means of restoring the credit of the company, and
promoting its future success, but the subject is so
beset with delicate and important questions, that it
appears to them the consideration of the subject
should be left to the reconstituted Board of Direc-
tors, and as parliamentary powers for accomplishing
this may be necessary, they recommend that the re-
quisite notices should at once be given, the terms of
which should be so comprehensive as to embrace any
scheme that may be devised and approved by the
shareholders. The committee, while they cannot
but attach blame to the Board for the position of the
company's affairs, have no hesitation in expressing
their conviction that the conduct of the chairman
has been so unjustifiable as to preclude the possibi-
lity of his being allowed to retain any official position
in the company. They, however, are of opinion
that the services of some of the present directors
may, with advantage, be made available to the com-
pany, should they be willing to act in the present
emergency. The committee consider that the
manager and accountant ought to have communi-
cated to the Board the irregularities carried out in
their department, and ought not to have been par-
ties to the improper entries made in the books, and
that they should at once have taken care that all the
directors were made cognizant of the irregularities
suggested by the chairman. They feel it due to
Mr. Walker, the secretary, to say that the share-
holders are greatly indebted to him for the straight-
forward and independent manner in which he has
acted throughout for the interest of the company.
In conclusion, the Committee desire to express their
sincere sympathy with the shareholders, many of
whom, they are aware, must be greatly incon-
venienced at not receiving their usual dividends,
and disappointed at the results brought out in this
report. Bearing in mind, however, that the present
exceptional and untoward state of matters is attri-
butable to gross mismanagement, which it is hoped
may never again occur, and not to any normal con-
dition of the railway property, the Committee feel
assured that,—relieved from the promotion and
construction of new lines and works under which the
company has laboured for the last few years, exer-
cising strict economy in the expenses of mainten-
ance and management in all departments, a watch-
ful care over the cultivation of traffic at remunerative
rates, and with unanimity of action on the part of
the shareholders and executive,—the large and
valuable property of the company will be so fos-
tered, and its inherent powers developed, as to prove
that, although some of the shareholders may for a
time be deprived of the return which they calculated
upon from their investment, they are possessed of a
property of great and increasing value, which will
ultimately surmount the difficulties with which it is
at present unfortunately surrounded. The Com-
mittee cannot conclude without expressing the
obligations they are under to Messrs. Mac-
kenzie and Guild, the accountants employed in
the investigation, without whose valuable assistance,
given at much personal inconvenience, they could
not, within so limited a period, have presented to
the shareholders so complete an exposition of the
company's affairs.
" James White, chairman; G. Graham Mont-
gomery, Peter Clouston, George Harrison,
John Irving, Alex. C. Matthew, George
Robertson, Robert Young."

REGENT'S CANAL.

The half-yearly meeting of this company was held
on Wednesday, at the offices, City-road-basin—Mr.
W. Parker in the chair.

Mr. Abbott, the secretary, read the report, which
stated that the 'traffic upon the canal during the six
months ending Sept. 30 had amounted to 849,524
tons. The gross receipts from tolls amounted to
£32,653, and the net profit to £19,386; including
balance, £405, remaining from March 31, the sum
available at the credit of profit and loss was £19,791.
After appropriating £657 for interest on calls re-
ceived on account of new shares, and £969 (being 5
per cent. on the net profit) to the reserve fund, the
directors recommended a dividend of 13s. per share
(free of income tax), which would absorb £17,562,
and leave a balance of £603 to be carried forward.
The amount received to Sept. 30 on account of the
new shares allotted in November last was £39,754,
and the expenditure there against £39,321. Consi-
derable property had yet to be acquired before the
important works for the improvement of the com-
pany's dock could be commenced. The directors
recommended that the 4,318 new shares not yet
taken up be offered to the proprietors gene-
rally, and that the interest upon calls payable in re-
spect of such shares be 5 per cent.
The CHAIRMAN, in moving the adoption of the
report, referred to the highly satisfactory position of
the undertaking ; its progress was steady and re-
munerative.

Col. WILSON seconded the motion,which was agreed
to, and a dividend of 13s. per share was declared,
payable on Nov. 5.
The directors were authorised to issue the 4,318
new shares not yet taken up at 5 per cent. interest.
Mr. G. Wharton was elected an auditor, and the
proceedings concluded with a vote of thanks to the
chairman.

it
nr
onsgsibWlee,
been near
A HORSE-RACE IN EGYPT. Next
• ni
were all up at four, sleep having
and started for the Tomb of the Sheik, but,as
was filled
with women, could not go in. M. Guichard had
given
napoleons to bo run for by the Bedouins. Two milesh3aod
been staked out by flags, and about 35 wished to start. Mrs.
Boss was to start them; M. Guichard stood by tho wianing
post and started them backagain. "Shaitan," or the devil,
as Mrs. Boss's horse was called, was so violent that, as soon
as the Bedouins were off, she let him go and arrived second,
and coming back third. The same horse won both times,
and had the prize; he was ridden without a saddle, and
with a bit of rope for a bridle and bit, by a boy of 14, who
deliberately stripped, and when told that this was not
allowed, put an old rag round his middle. Directly after
the race the winner disappeared in the desert, as his
owners were afraid of the evil eye for him. On our way
back to the camp, old Sheik Mohamed tassan came up and
made an amende honorable to Mrs. Boss, and after a long
conversation he made her a formal proposal. "0 lady,
when thou art tired of thy white husband and needest
change, come to Mohamed Hassan. By Allah, thouridest
like ten Bedawees, and thy conversation is such that thy
husband need never go to a coffee-shop for entertainment
or knowledge. I will stand before thee, 0 lady, and serve
thee like thy mameluke if thou wilt come to me." The old
Sheik was much thanked for his flattering offer, and when
we got under cover of our tent he insisted on serving his
"sitt" (lady) himself with coffee.—Dickens's " All the Year
Round:,