The Sun.
London, England, 1857-05-15 00:00:00

LONDON, FRIDAY EVENING, MAY 16, 1857.

PSOII GRAND STAND. Stalls and Private
_AA BOXES may be engaged fcr the DERBY WEEK. For
rarticulars apply to Mr. DORLING, Epsom.

ETR 0 P 0 LITAN COUNTIES and
1.1. GENERAL LIFE ASSURANCE SOCIETY, 27, Regent-
.treet, Waterloo-place, London. Capital, 100,0001.

TausTEEs.
Rt. lin, Spencer li. Walpole,M. P. Richard Spooner, Esq., M.P.
Henry Peter Fuller, Ileq. lE. Vansittart Neale, Esq.
Life Assurance bcsiness transacted in all its branches.
N.B. Thb bonus declared .t the last division of profits averaged
3 per cent. on all the premiums paid.
F. FERGUSON CAMROUX, Manager.

SUN LIFE ASSURANCE SOCIETY,
LONDON.
Policies effected with this Society now will PARTICIPATE IN
FOUR-FIFTTIS, or SO per cent., of the Net Profits of the Society,
ccording to the conditions contained in the Society's Prospectus.
The Premiums required by this Society for insuring Young Lives
.re lower • than in many other 014-established offices, and Insurers
He fully protected from all risk by an ample guarantee fund, in
Addition to the accumulated funds derived frorn the investments of
l'remiums.

Policy stamps paid by the Office.
Prospectuses may be obtained at the Office in Threadneedle-street
London, or of any of the Agents of the Society.
CHARLES HENRY LII)DERDALE, Actuary.

R. HOWARD, surgeon-Dentist, 52, Fleet-
street, has introduced an entirely new description of ARTI-
FICIAL TEETH ,fixed without springs, wires, or ligatures. They so
,erfeetly resemble the natmral teeth as not to he distinguished from
he original by the closest observer; they will never change colour or
lecay, and will be found very superior to any teeth ever before used.
his method does not require the extraction of roots, or any painful
neration, and will support and preserve teeth that are loose, and is
naranteed to restore articulation and mastication: and that Mr.
Howard's improvement may be within the reach of the mo't econo-
mical, he has fixed the charges at the lowest male possible. De-
cayed teeth stopped and re •dered sound and useful in mastics.
tion.-52, Fleet-street. At home from ten till five.
The Successful Results of the last half-century have proved beyond
question that
ROWLANDS' MACASSAR OIL
possesses peculiarly nourishing powers in the growth, restora-
tion. and improvement of the Human Hair. It prevents it from
falling off or turning grey, strengthens weak Flair, cleanses it from
scurf and dandruff, and makes it beautifully soft, pliable, and glossy.
In the growth of the Beard, Whiskers, and Mustachios, it Is unfail-
ing in its stimulative, operation. For Children it is especially recom-
mended, as forming the basic of a beautiful Head of Hair. In dress-
ing the Hair nothing can equal its effect, rendering it so admirably
soft that it will lie in'any direction, and imparting a transcendent
lustre. Prico 3s. 6d. and 75.; Family Bottles (equal to four small),
10s. 6d. ; and double that size, 21s.
CAUTION.—On the wrapper of each bottle are the words, " Row-
tAgns' MACASSAR Om," Ike., in white letters on a la,cework ground,
and their signature, " A. ROW'L %ND and SONS," in red ink,
Sold at 20, Hatton-garden, Loudon, and by Chemists and Per-
fumers.

NEWS OP JAMES SADLEIR.

(From the Freeman's Journal.)
Mr. James Sadkir, after a long silence, has treated
the world to his locus in quo, He is in the gay capital,
enjoying, with the Grand Duke Constantine, the gaie-
ties of that delightful city. But beyond that general
description, deponent sayeth not. lie does not enter
into particulars—whether be sojourneth at the Hotel
Maurice or the Banlieu, whither have retired the dig.
tressed operatives whose scant incomes suffice not for
a more central lodging. James, however, we may
be sure, disports himself in a more sumptuous fashion.
Ile retreated from too tardy justice, with a large
slice of the plunder which be and his worthy brother
extracted from a too confiding public. James is not
" hard-up"—not he. His pockets are well lined with
Napoleons, and the most fashionable cafés—say the
Trois Freres—nightly abstract a portion of the poor
shareholders or depositors' savings. We wish the Bou-
levard rover had particularised his residence, but be was
too cautious for such candour, because he was welt
aware of the consequences to his liberty. The sub-
joined letter from the ignominious and shameless fugi-
tive appears in last night's Post. It required no
ordinary amount of audacity to pen such a characteristic
epistle :

TO THE EDITOR OF THE DUBLIN EVENING POST.
"Paris, May 8, 1857.
" Sir, —I observe in your puhFcation of the 30th ult.
a letter from Mr. James Scully, in which he states-1 I
never bought any snares in so rotten and cursed a
concern ; those I had were derived through adminis-
tration to my father, and which I often desired to
gat rid of, but was always. informed that the bank
would never purchase any shares from any person ;'
he also states—' Mr. James Sadleir was the only
director remaining in the bank.' This a mistake ' • Mr.
James Scully was a shareholder in the Tipperary Joint
Stock Bank long before the death of his father ; he was
offered to be appointed director in 1848, after the death
of his father, but declined in favour of Mr. V. Scully,
who then agreed to act as director, being considered a
gentleman of superior legal knowledge, and would be
of great benefit to the institution. I never heard
of the bank purchasing its own shares. Mr. James
Scully had always sixteen days' notice of each annual
general meeting, and a private letter from me to at-
tend the last meeting of the bank ; he was never more
than one hour distant from it ; he had at all times full
facility for any information he wished from the directors
or officers of the bank—all books and documents open
to him ; he bad always an overdrawn account of over
2,0000, which the directors considered him good security
far. I am sorry my two brother directors did not
give me a hint, at all events, when they were leaving ;
if they did, it would, I have no doubt, have saved
creditors and shareholders from very heavy loss. We
continued on friendly terms, bad no difference of opinion
as to the management of the bank ; but I suppose Mr.
James Scully considers I should have gone with them,
taking all I could with me ; I will leave that to the
orators to judge. When they had left, Mr. John Sad.
lair and Mr. Keating agreed to act as directors, having
the largest interest then in the bank as shareholders,
and Mr. Keating signed all certificates for shares, &a,
and was ready and willing to discharge all the duties of
director till Mr. John Sadleir's death—then he was not
director at all. I could not see two better persons then
connected with the Tipperary Joint Stock Bank to act
as directors, from their great experience in connexion
with one of the most respectable institutions in London.
I also mentioned to Mr. F. Scully as to his becoming a
director, as Mr. Kennedy had left the bank, and he
agreed to do so from the Ist February, 1856.
" I now take this opportunity of just asking what is
Mr. James Scully's case worse than mine? lam re-
quired to pay up calls on shares, the greater portion of
which were the property of the late Mr. John Sadleir,
placed in my name as his trustee temporary, a very short
time before his death, a large portion of which no, trans•
fee was ever executed for, legal or illegal. I never owed
the bank or any bank a shilling, but always had a con-
siderable sum to my credit in the Tipperary Joint Stock
Bank, and during the run 5,0001. due to me, which I
might have drawn out or even after Mr. John Sadleir's
death. I never had any connection, directly or indi-
rectly, with any one of the numerous speculations Mr,
John Sadleir appears to have been mixed up in, or any
other speculations. From that moment I discovered in
London, late in 1855, the extent of the land transac-
tiops he was mixed up in, and railways in England,
France, Germany, Sweden, Switzerland, and Italy, I
denounced bins in the strongest language I could for
having allowed himself, under any circumstances, to be
engaged in so many undertakings though I had the
strongest assurance from himself, and some of his friends,
that large and immediate payments were to come to him
from each undertaking ; and I have got the sums in a
return given to me that were to come from each.
From all the information I could collect a short time
before his death, from himself and some of his friends,
I was fully satisfied the worst was over, and that he was
fast getting out of the temporary difficulties he had got
into, and that La would have a oonviderablo eurplua
after paying all debts that I had any knowledge of.
"You also state, in your publication of the 30th ult.,
that Mr. V. Scully was to receive 7.0001. for his shares
from Mr. J. Sadleir, payable in 1857; the shares to be
transferred to Mr. Keating.'
"I beg to state I never had anything to say to Mr. V.
Scully, directly or indirectly, as to his shares, nor did I
ever owe him 6d., nor did I hear a word of bis agree-
ment with Mr. John Sadleir and Mr, Keating till Mr.
Keating showed me the document in London a consider-
able time after it was executed. I also beg to state I never
read any one clause in the new banedeed, got up in
1842—never saw it in the bank or elsewhere, since
I signed it in 1842. I then stated most distinctly
I would not continue to be responsible for the work-
ing of the bank alone, if extended, but that I would
assist to the best of my ability if other competent per-
sons were appointed to act with me, but that I would
not continue to give my whole and entire time to it—as ,
I did the three years previous to 1842. I state nothing
here but what can be proved, and I trust in justice, you
will not object to publish this letter.—l am, sir, your
obedient servant,

" JAMES SADLEIR."

RAILWAY TRAFFIC RETURNS.

LONDON AND SOUTH-BA.STEItkr RAlLWAY.—Traffic re-
turn for the week ending Way 9, 1857 . £16,916 8 3
Corresponding week last year

Increase in 1857 .. ........ £B3 16 10
LONDON, BRIGHTON, AND SOUTH COAST RAILWAY.—
Traffic return for the week ending May 0,
1857 £13,456 3 10
Corresponding weak last year 12,726 8 2
Total of the half-year to this date, 1857 221,503 11 10
Total of the half-year to this date, 1856 215,413 14 11
_ LONDON AND NORTH-WESTERN RAILWAY.—Traffic
return for the week ending May 10, 1857 £65,054 0 0
Corresponding week last year
GREAT NORTHERN RAlLWAY.—Traffic return for the
week ending May 3, 1857 £21,541 3 0
Corresponding week last year 20,603 7 2

CHESTER AND HOLYHEAD RAlLWAY.—Traffic return for
the week ending May 10, 1857 £5,148 0 0
Corresponding week last year 5,192 0 0

Increase in 1857 . ... £lo6 0 0
LANCASHIRE AND YORKSHIRE RAILWAY.—TraffIo re-
turn for the week ending May 10, 1857 £23,418 15 31
Corresponding week last year
1857 22,318 2 10
CORK AND BANDON RAlLWAY.—Traffic return for week
ending May 9, £349 10 4
Corresponding week last year 290 13 4
GREAT LUXEMBOURG RAILWAY.--Traffie return for the
week ending May 10,1857; £906 ' 7 1
Corresponding week last year

Naval and Mary Inteingence.

Yesterday the half-yearly inspection of the carps
of Royal Engineers took place at Chatham by Col.
W. H. Eden, Commandant of the Garrison, acting
for General Sir J. F. Burgoyne, G. C. 8., Inspector-
Genera! of Fortifications. The troops having been
drawn up in the barrack-squire Col. Eden inspected
their clothing and necessaries, after which he minu-
tely examined Brompton Barracks, the huts at
Prince Henry's bastion,the barracki library, and
the various offices. In the afternoon the entire
corps marched to Chatham lines, where they went
through the manoeuvres of a field-day in the pre-
sence of a large numb .r of spect.tors. The result
of the inspection was very satisfactory.
A discharge of troops to the number of 40 non-
commissioned officers and Inez tom place at t ha-
t ham. yesterday.
The Winchester, 50, Capt. T. Wilson, late flag-
ship of Rear-Admiral Sir Ai. Seymour, K. C. 8., on
the China station, was paid off at Chatham yester-
day, having been in commission upwards of syears,
during the 'whole of which time she was stationed
in the East Indies and China, until relieved by the
Calcutta, 84, Capt. W. K. C.B. . The Win-
chesterlought home the crew of her M-tjesty's sloop
Bittern, 12, and also 89 sick and wounded invalids;
28 deaths occurred on board during the passage
home from Hong Kong, which she left on the 13th
Dec. On the crew being, paid off yesterday two sil-
ver medals, with gratuities of 151., awarded by-the
lAdmiralty for good conduct and meritotious service,
.sfe'reliAriblited 13 -James Rain plin, -gun noes in ate,
and John Corris,.-quoirtermaster. The Admiralty
also awarded gratuities for good conduct to Horatio
Wilson, captain's coxswa n • Win. Blake, chief
boatswain's mate ; and Win. Horn, coxswain of the
barge. A few days prtwiously to the vessel being
paid off Capt. Wilson distributed about 200 medals
to those men belonging to the Winchester am
Bittern who were engaged in the attack, on Ran-
goon

- Letters from her Majesty's steam troopship Tran-
sit were received at Portsmouth 3TsttrElay morning
one of which was immediately handed to our cor-'
r,,sponclent for publication. Th 3 list he published
was said by its critics to have been written by a
soldier "frightened at sea's alarm.," and was stig-
matised- in various quarters as au "exaggerated "
description of the ship's voyage from Spithead and
her condition on putting into Corunna, which
"cuckoo cry" was re-echoed by the First Lord of
' the Admiralty in the House of Commons this day
week. The following is an extract from the letter
of an experienced " blue jacket " of 2O yetrs', ser-
vice in various parts of the world
" Her Majesty's ship Transit, Corunna, April 19.
" We came to an anchor here this morning from sheer
necessity. From the time we left Spithead until this morn-
ing our.ship has been one scene of misery—rolliniawfu.ly,
pitching tremendously, the troops' deck afloat all day and
night, the decks not properly caulked, and expecting
every moment to see the masts go over the side from the

loose manner in which the rigging is fitted. They are now
setting up rigging, and we shall most likely get to sea to-
night. We have met with heavy weather."
By the Brazil mail, delivered yesterday, it would
appear that the "unfortunate Transit" had crept
as far as St. Vincent's by the 28th ult.
The sailing three-decker Princess Charlotte, 104,
Cape. G. St. Vincent King, C. 8., was taken out
of dock at Portsmouth yesterday afternoon and
past under the shears to be masts-!. Her rigging
is ready for going over her mast-heads.

TLe Melville, 72, hospital ship for China, Com-
mander Trol!ope, wai taken into the steam basin
on Tuesd iy evening to ascertain if the leakage be-
fore reported was stopped ; but as it proved un-
abated she was redocked on Wednesday for further
examination.

The Volcano steamvessel, fitted as a seagoing
smithery, Master-Commander Hockin2s, having
been made ready for proceeding to China, is now
reported to be in want of new boilers.

The Beaver, 2, steam gunboat, Lieut. Hewett,
V.C., K.L. H., was taken into dock at Portsmouth
yesterday to have defects repaired.
The Azamemnon, 91, Commander Noddal (Mas-
ter, R. N ), commenced taking in coal in the steam
basin at Portsmouth yesterday, preparatory to pro-
ceeding to the Thames to ship her port'on.of the
Atlantic Telegraph cable.

The Malacca, 17, steam corvette, Clpt. Farqu-
har, does not gato Plymouth, but to Sheerness, to
be paid off. She left Spithead yesterday.
The Adventure, 'iron-screw steam troop-ship,
Commander Lacy, went out of Portsmouth harbour
yesterday to test her machinery, drc. She will take
in her portion of the troops for China next .
Wed-
nesday
_ _ _

At the monthly examinatbn of officers to qualify
for promotion, and of candidates for entry into the
navy, which terminated yesterday at the Royal
Naval College, Portsmouth, the following passed
and received certificates :

Mates, R.N. for Lieutenants, Messrs. F. R.
Blackburne, W. H. Heaton, G. C. B. Wither, C.
Mitchell, J. M. Stewart, John Liddell, C. H.
Carpenter, L. M. Mallet, .r. B. Warren and C.
N. Streataeld. Second-Masters, R. N., for Mas-
ters, Messrs. C. H. Martin, George Patterson, and
J. D. Switzer. For Naval cadets—Messrs. F.
H. S. O'Brien, H. C. Aitchison, C. S. Broome, J.
L. Heave, C. E. Danvers, Y. F. H. Parkes, and
C. B. Theobald. For Masters' Assistants—Messrs.
J. H. Coombe, W. F. A. Greet, W. H. Buck, and
J. T. Partridge. For Assistant Clerks—Messrs.
J. W. Thompson and E. B. Pillars.
The screw steam transport Urgent, Commander
C. G. Phillips, from Barbadoes, April 7, with the
head-quarters, 24 officers, and 614 non-commissioned
officers and privates of the 69th Regiment, under
command of Col. Mackirdy, and one company, 113
in all, of the 67th, under command of Capt. ount
Rivarola, arrived at Plymouth on Wednesday morn-
ing. The Urgent arrived at Fayal, April 29, and
was detained two days to perform quarantine.
Since that time she has experienced strong easterly
wind°. Captain Scot:, R A., and family have come
home passengers in her. Coporal J. Fowler, of the
67th, died at sea of consumption, April 26. The
Urgent's engines were built for the Russian Govern-
ment . about three years ago, and are in a very de-
fective state. The bearings became so much heated
as to require a continuous and plentiful supply of
water. Under full steam, in ordinary weather, her
speed averages 8 to 8. knots per hour.
The frigate Eurydice, 26, Captain Tarleton, ap-
pointed to leave 'Barbadoes on Bth April, the day
after the Urgent, was spoken on Wednesday off Ply-
mouth, 35 days out, proceeding up Channel.
The Cuckoo, 3 guns, paddlewheel steamvessel,
Lieut.-Commander Augustus G. E. Murray, left
Sheerness yesterday with part of the marines paid
off from the Cressy belonging to the Portsmouth
division, and the seamen gunners for the Excellent,
for Portsmouth.

The paddlewheel steamship Vesuvius, 6 guns,
Capt. Charles Wise, at Sheerness, completed the ad-
justment of her compa9ses yesterday. Mr. M 'Do well,
assistant engineer of this .hip, has been promoted to
the second class and reappointed to the ship again.
Mr. G. V. M'Donough, late assistant-surgeon of
the Cressy, has taken up his commission and joined
the Formidable, guarciship of ordinary at Sheer-
ness, vice Wm. E. Hambly, promoted.
The fieightship Runnymede has commenced em-
barking ordnance stores at Deptford from Wool-
wich arsenal for Hong Kong._

- 7
The Fortitude, in the Lemma docks, is shipping
ordnance stores and ammunition fuoin Woolwich
for Ceylon.
The freightship Earl of Mar and Kellio is under
orders to be moored off Woolwich pier, on or about
the 21st inst., in readine=s to ship 230 tons of engi-
neers' trenching tools and other cargo for Hong
Kong.
An Admiralty order was yesterday morning
issued in Woolwich Dockyard to the effect that all
applicants for admission as naval engineens, whether
serving in the dockyard or factories, aro to be
examined by the surgeon of the flagship of Fisgard
or the surgeon authorised by the Commodore. The
examination to take place after the candidate has
been returned qualified in all other respects for ap-
pointment.
The shafting and other machinery for the screw
steam corvette Challenger being built at Woolwich
are ordered to be in relines, as the vessel is in a
forward state towards completion.

• The paddlewheel steam vtssel Bustler, on service
at Woolwich as -bander to the Fisgard, is ordered to
be admitttd into basin to be supplied with a new
boiler.

Commander Francis A. Shortt, of her Majesty's
paddlewheel steam-sloop Spiteful, from the Medi-
terranean and Black Sea, yesterday morning as-.
suable(' the crew on deck, at her moorings off
Woolwich dockyard, when they were put through
a course of heavy gun practice for the inspection of
Commodore Shepherd, Superintendent of the dock-
yard, prior to being paid off.
Detachments of 14 battalions of the Royal Ar-
tillery were assembled on the review ground facing
the barracks at Woolwich, under the command of
Major Shaw, R.A., and went through a course of
battalion movements and brigade exercise.
Recruiting patties have been despatched from
the Royal Marine Garrison, Woolwich, in the fol-
lowing order —namely, Brevet-Major March to

London, for the , Portsmouth division ; Brevet-
Major W. C. P. Elliott to Derby, and Capt—J. V.
Cook to Bath, to raise men for the Woilwich
divi-
sirn. The standard to be 5 feet (h inches in height
and 32 inches ropnd the chest when s-ripped.
The following persons have re leived the g-atuity
of 151. and the good-service medal :—T. Cole, sail-
maker ; Rich: Hai, chief boatswain's mate ;
geant Browning, marine artillery ; Wm. Owens,
captain of the afterguarl ; awl James Ry.n, yeo-
men of signals : - •

The following, appointmentswere ma le yesterday
at the Admiralty :--
Capt. A. ForbeQ, to the Curaroa •, Lieut. T. M.
Campbell, to the Terror ' • C. M. T. Marsh3l, acting
second master, to the Boscawen ; F. Braldon,
assist.-paymaster, to the Amethyst.

TLIE ROYAL B B INK DIS-
CLOSURES.

MR. COMMISSIONER HOLROYD'S OPINION OF THE
ADVISABILITY OF A PROSECUTION.
Yesterday morning was fixed by Mr. Commis-
sioner Holroyd for delivering judgment on the ex-
amination of the directors, which his been so often
beim the public.
His Honour said—Mr. Linklater, the solicitor
for the assignees, having a few days since intimated
to the Court that he had, at least for the pre-
sent, closed the examinations in the matter of
the Royal British Bank, with the exception (I'
some formal depositiOng and some dommen-
tary evidence, I have considerel_ course it
is the duty of the Court to take with reference to
the case as it now stands. According to the Act of.
Parliament under which this inquiry has been con-
ducted, the 7th and Bth of Victoria, cap. 111, sec.
25, a report of the cause of the failure of the com-
pany is to be made by this Court to the Board .4*
Trade, and the Court is to be at liberty to state any
special circumstances relating to the formation or
management of the effairs of the company ; bat by
the terms of the Act this report is to be made to the
Board of Trade after the company have passed their
last examination. Now, the last examinaiion has
been adjourned to the 24th of June ; but, never-
thelss., notwithstanding the provi ion in the Act
to which I have referred, I think that the Court, in
a case calling for its interposition, ought at once,
ex mero motto, to direct copies of auy examinations
taken under the bankruptcy to be transmitted to
her Majesty's Attorney-General, Both tt the Govern
ment may be advised by the law offic-rs of tie
Crown as to instituting criminal proceedings. To
wait until the passing of the last examinet on of
the company might tend to occasion inconvenience,
if not to defeat the ends of justice. I think this is
not a case for further delay. Ido not believe that
a scene of greater recklessness, fraud, and crimina-
lity of conduct in the management of a banking
e•-ta,blishment was ever exhibited in a court of jus-
tice than is disclosed by the examinations taken in
this court under the adjudication of bankruptcy
against the Royal British Bank ' • and. I may ob-
serve that these examinations will be admissible in
evidence against the parties in ca,e of a prosecution
—see "Reg. v. Scott" (1 D and B, Cr. Ca., 47) ;
"Reg. v. Haggett" (1 D, Cr. Ca , 656). It will
be necessary to a correct understanding of the re-
marks. which I am about t 6 make to refer shortly to
the Act for the regulation of joint-stock banks in
England and to the charter of the company,
and to some of the most material provisions in
the deed of constitution of the company—viz.,
the let, 2d, 3d, 18th, 33d, 34th, 36th, 44th,
45th, 47th, 60th, 63d, 64th, 65th and 71st. By
the statute 7th and Bth of Victoria, cap. 114, after
providing for the form and mode of petitioning
the Crown for a charter or letters patent by a joint-
stock banking company for the carrying on the
business of bankers in England, it is enacted that
the deed of partnership of the company shall be
prepared according to a form to be approved by
the Board of Trade ; and shall, in addition to any
other provisions to be contained .therein, contain
certain specific provisions for the following pur-
poses, that is to say :-1. For holding ordinary
general meetings of the company once a' year. 2.
For holding extraordinary general meetings upon
a certain requisition, &c. 3. For the manage-
ment of the affairs of the company, and the election
and qualification of directors. 4. For the retire-
ment of at least one-fourth of the directors yearly,
and for preventing the re-election of the retiring
directors for at feast 12 calendar months. 5. Fur
preventing the company from purchasing any shares
or making advances to any person on the security
of a share. 6. For the publication of the assets
and liabilities of the company Place at least in
every calendar month. 7. For the yearly audits
of the accounts of the company by two or more
auditors chosen at a general meeting of the share-
holders, and not being directors at the time. 8.
For the yearly communication of the auditors'
reports, and of a balance-sheet and profit and loss
account to every shareholder. 9. For the ap-
pointment of manager or other officer to perform
the duties of manager, and that the provisions of
the deed, with such others as to her Majesty shall
seem fit, shall be set forth in the le teis patent. ,
It is then provided that it shall not be lawful for
any company to commence business until the
deed has been duly executed and all the
ehares subscribed for and at least half the amount of
each share has been paid up, and it shall not be law-
ful for the company to repay any part of the sum so
paid up without leave of the Board of Trade. Next
follows the provision authorising Her Majesty, by
letters patent, to incorporate the company for the
prirpom of carrying on the banking business. The
material articles in the deed of constitution of the
company will be found to this effect :—The parties
to the deed were to form a public joint-stock bank
ing company, and the
.capital of the- company was
to consist of 100,0001. in 100 shares of 1001. each,
to be increased if need were. The business of the
company was to consist in reeeiving deposits of
money and keeping customers' accounts, and tran-
sacting every kind of usual banking business, and
in advancing or lending money on real or personal
and other kind of securities enumerated in the
deed ; and the court of directors might give credit,
either with or without security, upon cash accounts'
to any of the proprietors or to any other person to
such amount, at such rate of interest, and upon
such terms as such court should •think proper,
agreeably to the bylaws for the re;ulat'on of ad-
vances ; the cash credits to be in the discretion of
the directors, but no director was to vote on any
motion for an advance or discount to himself ; and
auy part of the capital or funds of the company not
required for the immediate purposes or business
thereof was to be invested by the court of directors
in or upon any public or private real or personal se-
curities as the court should think proper ; and the
company ware prohibited from purchasing their
own shares or making advances of money to any
person on the security of shares (see articles 1,2,
3, and 33.) Article 18 is to the effect :—That all
the general affairs, business, and concerns of the
company shall be under the management, superin-
tendence, and control of the court of directors, as
thereinafter mentioned ; and that they shad have
the entire, sole, and exclusive control, manage.
ment, and disposal of the property and revenues of
the company, and shall regilate and determine the
mode and terms of carrying on the business thereof ;
and the court shall have power to nominate and ap-
point under such conditions and on such terresasthey
shall think proper one of their own number, or any
other person, to be general manager, for conducting
under their superintendence and control the busi-
ness and affairs of the company, with such salary as
the court shall see fit ; and the general manager, if
of their own number, shall cease to be a director.
Then, by article 36, which provides for the keeping
all necessary and proper books of account, the
court of directors once at least in every month are
to settle and adjust and balance the said books, and
make out, declare, and publish, in such manner as
the court shall think proper, a full, true, and ex-
plicit statement and balance-sheet, exhibiting the
assetsand liabilities of the company, and the amount
and nature of the capital and property thereof, and
the then fair estimated value thereof, and the
amount of the company's negotiable obligations
then in circulation, and the profits and losses of the
company, and all other matters and things requisite
for fully, truly, and explicitly manifesting the actual.'
state and position of the affairs thereof. Article 441
provides for the general yearly meeting of the pro-
prietors in the month of September, and by the next
article (45) the court of directors, if they think it'
expedient, may hold a second general, meeting, 09
be called a general half-yearly meeting of proprien,
tom ; and if a half-yearly meeting be not called the
court is to prepare and furnish to every proprietor
at the end of each half-year for which no such meet-
ing is called such a printed report of the progress
and proceedings of the company and the state or
the profits and funds, assets, and lief ilities thereof
as the court shall think proper be made known ;
and a balance-sheet, and profit and loss account,
and also a report on the account by the auditors
are, in the month of September in every year, to
be sent by the post to every proprietor. By article
47 the court of direators -at evety general meeting
of proprietors, shall exhibit a true and accurate