The Sun.
London, England, 1859-10-29 00:00:00

SIR GEORGE GREY.

Yesterday afternoon a numerous and influential
deputation of merchants and others interested in the
trade and prosperity of the Cape of Good 1-10Pe,
residing in this country, waited upon Sir George
Grey, the late Governor of that colony, who is
again re-appointed to the office, at Hewchin's Hotel,
St. James's-street, by appointment, to present to
him the Address recently agreed to at the meeting
at Gresham House, Broad-street.
Among the gentlemen composing the deputation
were Mr. J. R. Thomson, Mr. Godlonton, Mr. G.
Leethorn Browne, Mr. Searight, Mr. W. Foster,
Mr. R. Pormsett, Mr. Hamilton Ross, Mr. G.
Bushell, Mr. P. and Mr. M. S. Vanderbyl, Mr.
Cawood, Mr. Mosenthal, Mr. C. J. Busk, Mr. Sax-011
Mr. Henry Hobinson, and others.
Mr. J. R. THOMSON presented the address to his
Excellency, which he said proceeded from a class 01
men in this country connected with the OaPe,
and most deeply interested in the progress of the
colony. They desired to avail themselves of the
earliest opportunity of waiting upon Sir George
with an expression of their regard and gratitude
for the great and important services rendered 11
him to the colony in his private as well as public
capacity of governor of that settlement and its
de-
pendencies. They deeply sympathised with, and
entirely concurred in, the regrets so universal*?
expressed by the colonists at his recall, and they
entertained a strong hope that their petitions for
his re-appointment might be granted. They were
moved more deeply to cherish that hope, because,
whilst they could rejoice in the confident faith that
the internal improvement and progress of the
colony, so much promoted during his administra-
tion, was henceforward guaranteed to it through the,
numerous excellent instititutions and important
public works initiated and promoted by him, the);
could not profess to believe that sufficient time had
been allowed so to mature and consolidate the
frontier system of the colony, that its author an
founder could be so suddenly removed without
danger, not only to colonial but to imperial ill'
teresta. They begged him to accept their since?
congratulations to Lady Grey and himself on 1113
safe arrival in England in the enjoyment, they
trusted, of improved health, and they assured Ill°
of their best wishes for their continued happinee,,,9
wherever the future lot of his Excellency anaLaaJ
Grey might be cast.
Sir GEORGE GREY said—Gentlemen, I feel veri
grateful to you for the warm expression of got
will with which you have welcomed 'Lady Greg
and and myself, upon our arrival in England.
gratification I felt at the manner in wo''''a
my services at the Cape of Good Hope kits
been appreciated by so many persons resaTit
in that colony was to me a rich reward leo
any exertions I had been able to make
promote its welfare. That gratification, he";
ever, is now much heightened by my finding, fro r,
your address, in how favourable a light those ES
vices have been viewed by many in this country'
In reference to the wishes you have expressed tilto
I may be able to resume the government of tat
colony of the Cape of Good Hope, I may state that
the Duke of Newcastle, shortly after assuming tl
duties of Secretary of State for the Colonial Defg".„
ment, decided upon not carrying out my contecro.
plated immediate removal from the office of
vernor. His Grace wrote to me, notifying t'ut
his intention entirely of his own accord, vilth°o
any solicitation to that effect having been intibi
to him by myself or, in as far as I am aware, Jo
any other person whatever. But his Graqj
letter did not reach the colony until I had quit:4
it. I had originally felt sensibly the distinetic;i,
of being selected by him for so difficult a R,,„A
tion as that of the Governor of the Cape of ur`7o
Hope ; but now I feel still more grateful for It
promptitude with which he has wished to ran
me in that office. If, then, circumstances el.
of my shortly returning to the Cape of Good
to the ordinary incentives to fulfil wry duty b,
Majesty, which are in themselves strong ennagof
I shall now have added a sense of the neeessitliir
my justifying the Duke of Newcastle in the of
able estimate he has formed of the value Of lie
services, and yourselves, and the colonists, in Let.
estimate which you have formed of my past folly
tions. It will be very difficult to do this success
after the expectations which the kindness of Y,en.o.
selves and others has created. I can only
that strength may be given me to accomplish 14/
I strive earnestly, as I will do, to perform nly_rfer
to a colony, the interests of which I have n".
several years exerted myself to the utmost
advance. (Hear, hear.)
Mr. LATHAM BROWNE said it was ex..--133Sel
iff
gratifying to the deputation to learn fro° to
George that there was a prospect of his returniogont
the colony, the news of which would be carried of
by the next mail, which would leave in a detoff
two. He asked when the deputation would k
officially that Sir George meant to return.
,y,atter,
Sir GEORGE GREY slid, so far as the ,sor,
could be arranged, he considered it settled nuted
(Cheers.) He could truly say that to be seP.9"rthe
from so many projects that were going on 11:001t
colony had been extremely painful to him. ,„6001
frightened him now most were the exPec"-tfietil
which the kindness of the deputation induced
to entertain.
1
The deputation then took leave of his Exneloo
li-effor
with whose cordial reception they were nine"'
tified.

ANOTHER STORY OF A SCOTT'S°

BANK.

rcr
A bill of complaint has just been filed by a e7S
holder in the Edinburgh and Glasgow Bank ag,"crliti
the chairman and joint managers. Theles
Article gives the following account : Called,
From February, 1850, to 1858, Mr. John ~ono
constantly purchased shares in the Edinburg'f-the
Glasgow Bank, on the strength, as he avers,°,',o3g
reports submitted at each meetino., until his 11,°`-jajoi(
amounted to about £6,000, of which sum he with
claims restitution from those whom he charesp-g id
having squandered it. The bank had ee;ach
Edinburgh and Glasgow, with directors ia "04
city; its capital was £1,000,000, in £5 shares' 110
the usual provisions, to which some persons, :Tot
fancy that honesty can be secured by an abu
complication of legal restraints, attach somupilh
"„701/
portance, were made to prevent improper aar:diel;
to the directors or others, and to compel the wl
up of the bank on the loss of one•fourth of the -Dot
tal. But it is alleged that in 1850, when the
announced " a large and steadily increasing,6 vet
ness," and recommended an annual dividend 01,„;,/0
cent., free of income tax, there was an over"` ;00
sum of £737,001, which had been received bttijelt
persons or firms, none of whom could meet to
engagements. Two of these, who were inde";;001.•
the bank £290,099, had actually passed into 'f- the
vency prior to the date of this meeting, e,iebtli
amount proposed to be written off for ban, Tie
was £11,457, " leaving a reserve fund of £lo°,aen.
During each successive year the ruin became gr'ftiel
but the reports, even when they confessed Plight
losses, always stated that they were such as 11000
easily be retrieved, and that the current bue„. the
was most extensive, safe, and profitable. 117116-801
shares declined the 'bank' made large purchasett eto
these constantly figured in each balance-sheet."
good assets, under the head of " stock investrae'tbe
On one occasion, when a shareholder wrote tc/t
et
secretary, intimating his intention to point °oto
a general meeting a false statement in the re SOO
the bank sent their law agent to him to 01.'00
the whole of his shares at par, and tlius to prey
his attendance. Throughout the whole el tor
time the bank was in debt to its London 0500
and was kept alive solely by a wil°lBs9f
system of re-discounting. Yet in February, age
—only four months before the final st°1;1;80e0
—when an acknowledgment of some heavY:, „we
had become unavoidable, and it was deemed
idbe
client to recommend that the £5 shares sh°llatri'
reduced to £2 10s. each, this necessity Was -deli'
buted only to the discovery of old-standing pro'
ciencies, and it was announced that under to,ecouoa
posed arrangement the bank would be in a for
and satisfactory condition," that the busirles-ati.r
the past year had been " most profitable and ; si%
factory ; and that, although a dividend of onilrget
per cent. was recommended, a considerablYilaAt
distribution might have been fairly deelareo•
the same time, the chairman, Sir W. Johnst°,ll:oo,
commended the shareholders not to sell their 6:;ocet
but to buy more, and concluded with the ass,°.-cle •
"We have revealed everything; we have "iihree.
clean breast of it," or words to that effect d the
months later there was renewed alarm, anbaflg
shares again began to fall rapidly, when tuca sys°,
sent out a circular assuring holders that ther,otina
no ground for it, that everything was in D',;:it the
position;and that nothing was required 1"-ecete
cordial support of the parties interested t° %tit it
"continued" prosperity. This caused a rise, vine
was only temporary, and in the course of ahou„lst ,
weeks the bank had ceased to exist. On the', had
June, 1858, the chairman reported that theJ bids
been compelled to make an agreement under 115,150
their affairs would be wound up by the Clyelesipee
Banking Company, and the shareholders 110°,,,
learned that the whole of the assets have be
sorbed, and that there will be no return to tile
any sum whatever.

r° ore
li ea
LEATHER LEGGINGS FOR SOLDIERS.-- •ssa
confidently assured that no official order has yet beenliiiio
Tipon this subject, and that when it does, it will 11° ocarc:
for its object the employment of animal hides, net, job'
and dear enough, but, in all probability that alesst
substitute, " vegetable leather," the discovery of thenuey."
Spills, tho well-known army contractors of Stop
United Service Gazette,