The Sun.
London, England, 1857-11-20 00:00:00

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[PRICE 4D. STAMPED 5D.]

MEETING OF G-LASGOTV TVESTIIRIV DANK
_DEPOSITORS.

On Wednesday, at noon, a meeting of the deposi-
tors in the Western Bank was held in the Trades•
hall, Glasgow, which was crowded to the door.
There were a number of ladies present, and hun-
dreds of persons were unable to obtain admission.

Mr. JAMES DUNLOP, of the Clyde Ironworks,
took the chair, and, after a few introductory re-
marks, introduced
Mr. FLEMING, Manager pro tempore of the
Western Bank, who made a statement with respect
to the affairs of the bank to the following effect :
The failure of certain houses in Glasgow to whom
excessive accommodation had been graetel, the
monetary crisis in America, and tyre '..et e At pressure
in the troney-ma.ket at home had deraing-d the
affairs of the bin; so mach as to ehliee them to apt ly
ot• e other batiks for essistanee. T! publeity
giv-It to this by the d• mend of tie other i)n!rs for
a geaeral had the r ffeet of cell ink,
eel lid rawn) of dep .sits to 'uch an ext. Ir. that in 3
weeks 1,000,0001. was withdrawn, till at length
there was no course left but to suspend payment.
On the G,h of Novelw er an exa,tni tiateni wen
male into the affairs of the, la .111 c, from which
it appeared het while the I.ahili.i s anierinted to
7,671,6111. its assets amounted to 9,398,184/.,
leaving a surplus of 1,726,5421. of asset.: over It
ies. (Applatore )"its are elimin iry step, the
direc ors prepesed than, the tesp nsrbility of the
wea thy beely of elial eh iders shot) dire secure I by
closing the tr-n.fer of shares till the annual me, t-
ieig in J rine. 1860. (Applause.) This proposal
now to be su'aiotted by the directors wee
Teat they qlAll be enabled to relieve t' e pressing
ee2essi.ies of the Rairer &asses by beiug autho-
rised, as s_cni as Lusrness was rei,inel, to p.ry a
sum of 10/. to account on all deposits not exceeding
501., and also to pay off the whole of such deposirs
as soon rls possikl- after the Ist of January, 1858.
(These small deposits it was mentioned amount to
500,041.) 2. That when required by depositors,
the interest on all deposits should be paid up to
the 9th of November last. 3. That the directors
should have a discretionary power, in cases of ur-
gency, to allow operations on current deposit ac-
counts with parties engaged in business. 4. That,
subject to the exercise of the above provisions, all
deposits above 50/. should remain in the bank for
two years from Jan., 1858, bearinr, interest at the
rate of 5 par cant., and at the end of° that period re-
payable at a month's notice. 5. That the directors
should have power, in cases of urgency, to make such
arrangements with individual depositors as to enable
them to make their deposits available as a fund of
credit elsewhere, either by granting promissory
notes or otherwise. Mr. Fleming also stated that
it was the intention of the directors in future to
confine the operations of the bank to those trans-
actions generally held as more legitimately the
business of banks than those in which they had
previously been to some extent engaged. (This
intimation was received with loud cheers.)

Sir JAMES FERGUSON having taken th© chair in
the room of Mr. Dunlop, who vacated it at this
stage, made some general observations as to the im-
portance of supporting the bank, after which
Mr. DRIGHORN moved—

"That this• meeting, having perfect confidence in the
stability of the Western Bank, and impressed with the
great importance of supporting it through its present diffi-
culties, agree to the proposal now made by the directors,
and recommend all absent parties, having claims, forthwith
to accede to it."

Mr. T. NAPIER seconded the motion, after which
a little skirmishing took place between the manager
and a few outspoken depositors, who did not seem
to relish the idea of lying out of their money for
the peri.)d contemplated. Eventually, after Mr.
Fleming had with great temper and judgment ex-
plained away the various objections, tiie resolution
was put to the meeting, and carried amid great
cheering, one gentleman only persisting in his
protest.

A vote of thanks to the chairman closed the pro-
ceedings.

HUDSON'S BAY COMPANY.

The following resolutions were passed at tho
great meeting ou the Hudson Bay question, held in
the Court-house at Owen Sound, on the 2d :

" Moved by G. M. BUTCCIART, seconded by Mr.
PAYNTER— Believing, in common with a majority 01
the people of this provinc', that 'he territory described
in general as the Hudson', Bit: Territory, extending from
the Atlantic seaboard to the Pacific and Arctic Oceans,
coveriug some of the most valuahle territory in British
America, abundantly rich in mineral ore, coal fields, and
fisheries, possessing illimitable water-power, and a soil
capable of maintaining millions of human beings in the
greatest plenty, if not luxury, requiring only to be made
available for colonisation and trade to develope the im-
mensity of its agricultural and commercial resources,
this meeting considers that the country should no longer
be a game preserve for the benefit of a couple of hundred
non-resident monopolists, whose actions for the last 20
years, in regard to the commerce of said country, has
been highly injurious to Canadian interests, but should
be thrown open as soon as possible to all British sub-
jects.'

" Moved by Mr. ELTTM, seconded by Mr. SINCLAIR
—‘ That as Canadians we have watched the proceedings
before the committee of the British House of Commons
upon the Hudson's Bay Company's affairs, as regards
their charter and license to exclusive trade over the afore-
said territory, with intense anxiety ; and this meeting
dissents from the conclusion arrived at by the majerity
of that committee—namely, that a part only of that terri-
tory should be yielded up for colonisation and commerce,
and that the company should retain an exclusive right to
trade over a very extensive portion of country, as we view
it as an interference with individual rights, as well as a
direct infringement of the privileges of Canadians ; for
agreeably to the principles that influence the commerciel
policy of the empire, as Britons and Canadians, we claim
as our inalienable birthright, peaceably and loyally to
enter on and Fettle in the said part of British America,
without restriction, and to follow, in every relation and
pursuit, agriculture and commerce ; and with nothing
less can we rest satisfied. And this meeting does not
apprehend the dangers set forth as likely to accrue to
the Indians, should the whole territory be thrown open
to commerce, as in its opinion it is able to maintain order
therein, and to protect the Indians better than the lied-
son's Bay Company.'
"Moved by Mr. OWEN VANDUSEN, seconded by Mr.
P. LENFRSTRY—`That however expedient or politic it
may have been in times to grant exclusive commercial
privileges it is the opinion of this meeting that the time
has arrived when all such relics of a semi-barbarous age
should be abolished, for it is now a settled principle in
the legislation of every civilised nation, and none more
so than Great Britain, in her modern legible ion, that
whenever a chartered right becomes a nuisance to
society, it must be surrendered, and sacrificed to the
general intere't, and in a case where, like the Hudson's
Bay rumeopoly, the debt is at beat but very doubtful,
and its retention clearly and decidedly irjurious to the
interests of every ens except the interested parties, the
charter, real or imaginary, should at once be abolished ;
that therefore the license to trade in the north-western
territory granted to the Hudson's Bay Company, and
which expires in 1859, should not be renewed, but that
those territories should be united to Canada, and placed
under the administration of the provincial government."
"Moved by Mr. H. KENNED 7, 14.,0:43,•ed Dy Mr. D.
MOOT—' That to avoid future ewbarrasements to Canada
on this important question, and also to prevent, as it is
proposed in the report of the committee, the Imperil
Parliament from passing any aet to circumscribe the
boundaries that nature has assigned to the magnificent
colony, to shut Canadians out of what they believe to be
their own, and, in case of war, what they will Le called
on to protect and defend ; to restrict withii. certain
limits the right of settlement and commerce in the said
territoay, while it is proposed to rene , the company's
license for exclusive trade over the remaining extensive
portion of the north-western country, it is the opinion
of this meeting that the Provincial Government imme-
diately submit to the test of a competent legal tribunal
the validity of the charter possessed by the company, by
virtue of which it claims the exclusive right of trade and
commerce over the said territory, and that any attempt
to define the boundaries between Canada and said terri-
aeAhle
believe nomeg onlyra
will
i itsn population,
be
h fct s
thereh tr
n ise , and
every
that tery will be premature until the legality of the charter
has been determined before such tribunal.'
Moved by J. MILLER, seconded by W. SMITE--` TE at
from the aggressive and annexation proclivities of the
United States, by which large portions of British Ame-
rica, on the eastern and western frontier, have been lost
to the empire ; to prevent a like catastrophe to the said
valuable territory, it is the opinion of this meeting the
Hudson's Company's rule over said country should cease,
that the time has come when it is absolutely essential,
both for Imperial and Canadian interests, that Canada,
with the concurrence of the Crown, should assume the
iflonger
government of the whole territory in its widest extent
from east to west—from the boundaries of Canada and
ce trt ea suchson is
to
the United States on the south, to the Frozen Ocean on
the north, with a full confidence in the ability of Canada
administrating its affairs, and to push her settlements
waythetoca prevent
left
eft its
being
under overrunth e
company'sh y a
n
control.'

" Moved by Owen Vandusen, seconded by G. But-
chart--` That petitions to her Majesty the Queen and
the Imperial Parliament be dratted on the foregoing
resolutions, and signed; by the chairman, secretary, and
committee on behalf of this meeting ; that to the Queen
to be forwarded to the proper quarter to be laid r.t the
foot of the throne, and those to the Imperial Parliament
be eeut to be laid before it at the next senior.' 1!