The Sun.
London, England, 1850-09-19 00:00:00

BANK OF ENGLAND—(THIS DAY.)
Tee helf.yearly General Court of the proprietors
and ehareholders of Bank Stock, took piece to-day in
the Court-room of the Beni:, for the purpcso of con•
eidering of a dividend and on the other business of
the court. It was also one of the quarterly general
courts appointed by the charter.
11. J. PRESCOTT, Esq., the Governor of the Bank,
accompanied by Thomson Harkey, Esq., Deputy
Governer, and several of the directors entered the
court et twelve o'clock.
The :SECRETARY having read the advertisement
calling the court and the minutes of the last meeting,
The GOVERNOR said he had now to ac quaint the
court that this was one of the half-yearly courts for
the consideration of a dividend, and also one of the
quarterly general courts appointed by the charter,
and he had further to state that the nett profits for
the half-year ending the 21st of August last amounted
to 535,342/. It would enable the directors to make the
usual dividend three-and-a•half per cent., without any
deduction on account of income-tax, leaving 25,99//.
to be added to the rest, which would make
the rest 3,027,309/. The Ccurt of Directors,
under these circumstances, proposed to make
a dividend of ell per cent: for the half-year
ending the 31st of August last, without any
deduction on account of income-tax. That being the
case he would move that the court should order a
dividend to be paid of 31- per cent. for the half-year
ending the 31st of August last.
Mr. FIELDER had been in hopes that the directors
would have proposed a dividend of 4 per cent. for the
last half-year, and felt greatly disappointed that such
had not been the case. They had at the present mo-
ment a capital of no less than 14,000,0001., besides
the buildings and a rest of 3,000,000/. and upwards,
and under these circumstances he thought the di-
rectors might safely propose a dividend of at least 4
per cent.; if they did so they would give satisfaction
to every one.
The GOVERNOR thought it was generally under-
stood that it had been agreed that the rest should be
continued at 3,000,0001., and as many of the pro-
prietors who were present at that arrangement were
out of town, he did not think it would be right in
their absence to disturb that arrangement, or again
discuss the question so soon. The directors did not
contemplate adding materially to the rest, and when
so much was added to it as would enable the direc-
tors to give an additional per cent., that additional
per cent. would be proposed. It must be apparent
to the proprietors that the directors could not have
proposed an additional i per cent. without interfering
with the rest of 3,000,000/. to the extent of upwards
of 50,000/.
Mr. GREY greatly approved of the conduct
of the directors, and was of opinion that if
the course proposed by the Hon. Proprietor were
adopted Bank Stock would always be in a state of
fluctuation.
The GOVERNOR observed, that as there appeared to
be no amendment he would put the question to the
vote.
The motion was then put, and declared by the Go-
vernor to be carried unanimously.
Mr. DE WTINTON considered that the Bank did not
give sufficient accommodation to the manufacturing
and agricultural interests of the community, and
stated that in his opinion they ought to afford
greater facilities for discounting paper to the trading
and egricuitural classes, by which means the general
interests of the country would be greatly promoted,
and the profits of the Bank considerably increased.
Teey had at the present momentno less than 11,000,000/.
of unemployed capital, and yet they refused to
discount gocd paper because they adhered to an anti-
quated and useless system. They should look to
Scotland, where a superior and more profitable sys-
tem of banking was carried out, and let them imitate
the example of the people of that country, who were
the best educated and the most excellent men of busi-
ness in the world. In that country, land which would ,
not fetch fourteen shillings an acre in Wales, fetched
there a rent cf from 1/. to 3/. an acre, and
that because the bank there advanced money upon
cash credits. Looking at these facts, he felt com-
pelled to propose the following motion :—" That the
Court of Proprietors are of opinion that if one-third
of the 11,000,000/. of unemployed capital was em-
ployed, the dividend would not have been less than 4
per cent. for the half year."
The GOVERNOR felt bound to say a few words in
defence of the course pursued by the directors. He
considered that it would not be a wise, judicious, or
sound system of banking to advance deposits paid
into the Bank, and which they might at any time be
called upon to repay, on leases and secu-
rities of a similar nature, or to discount
bills over the counter if they were not
presented by parties regularly introduced to the
directors. He trusted after this explanation the
Court would place confidence in their directors, and
at once dismiss the proposition of the lion. Pro-
prietor. For that purpose, as ho looked upon the
amendment as a truism, he would move the previous
question.
Mr. CLARKE seconded the motion, and trusted it
would be carried, as the motion of the Honourable
Proprietor, if carried, would be looked upon as a vote
of censure on the directors. •
The motion of Mr. de Winton was then put and
negatived, and the previous question was declared to
be carried.
On the motion of Mr. FIELDER, seconded by
one of the PROPRIETORS, a vote of thanks was unani-
mously carried to the Governor, Deputy-Governor,
and the Directors of the Bank, and,
The GOVERNOR, in returning thanks, announced
that the divident warrants would be issued on and
after the 11th of October.
The Court then adjourned.

CAMBRIDGE UNIVERSITY ELECTION.
SEPT. 18.—The address of Mr. Wigram's com-
mittee has been issued to-day. In the meantime Mr.
Cowling's friends say they have nearly completed
their canvass.
The names of Mr. J. Pardoe, M.A., of St. John's
College; Mr. W. Wegg, M. 8., Caius College; Mr.
W. F. Witts, M.A., Fellow of King's College ; Mr.
J. W. Woolley, 8.D., Fellow of Emmanuel College ;
and Mr. J. Richards, M.A., Fellow and Lecturer of
Sidney Sussex College, have been added to Mr.
Wigrain's committee. The absence of many of the
names signed to the requisition to Mr. Walpole is ac-
counted for by the fact that the parties are absent from
Cambridge:

held

t th,

Yesterday a Court of Directors was a. ie
East India House, when Lieut.-General Sir Wm. Maynard
Gomm, 1i.C.8., was appointed Commander-in Chief of the
Company's forces in India.
SUPPOSED SUICIDE OF A POLICE-CONSTABLE IN
THE SERPENTINE.—Yesterday morning, a few minutes after
five o'clock, as Charles Winnett, one of the boatmen of the
Royal Humane Society, was passing along the north bank of
the Serpentine River, to go to Lis duty, he discovered a man's
hat lying on the bank, close to the bridge, with the name
of John Bennett written on the inside. Ile procured the
drags from the Receiving-house, and searched the spot, and
he succeeded in finding the body of a man, about forty years
of age, in eight feet water, about eight yards from the shore.
In taking the body out of the water a woollen scarf was
found twisted tightly several times round the neck, and evi-
dently with the intention of causing etrangulation, as he was
quite black in the face. The annexed copy of a letter was
found in his coat pocket, addressed to John Bennett, 39,
Eastbourne-terrace, Hyde-park :—" My dear sister,—l write
this to you, for lam distracted, mad. I have been treated
with great cruelty, and cannot support it any longer. God
bless you all is the last wish I have. (Signed) E. Wrecox."
On inquiring at the above address, it was ascertained that
deceased, who is the brother of Mrs. Bennett, was a police-
constable in the N, or Islington division. Be was a mar-
ried man, but his conduct towards his family of late had
been so bad that his relations had discarded him.
PEOPLE'S CHRISTIAN ASSOCIATION.—Last night a
course of four lectures on " Education as the source of
popular independence, wealth, and morality," was commenced
by the Rev. 11. S. Bayley, F.S.A.—one of the founders of the
People's College, Sheffield—in the lecture theatre of the
People's Christian Association, 58, Aldersgate-street. The
lecturer set out by laying down, as a basis, the right of
society to interfere in the education of the children of the
working-man ; and then proceeded to glance cursorily at the
present state of pauperism, intemperance, crime, poplar
amusements, and political discontent among the masses of
Great Britain, deducing cogent arguments in favour of the
more general extension of an improved system of national
education. Having referred to the prospects of society in
England, he concluded by maintaining that the only effectual
mode of counteracting the destructive principles of demo-
cracy, now leavening the masses, lies in the wide diffusion
of sound, moral, and religious instruction. The lecturer's
style is eloquent, lively, and interesting, and his address was
very flatteringly received by the audience.
THE GAS QUESTION IN SHOREDITCH.—Yesterday
a vestry meeting of the inhabitants of St. Leonard's, Shore-
ditch, took place for the purpose of electing, under the local
Acts, trustees, known as " trustees of the four-rate board,"
in place of such trustees as had died, removed, or refused to
act. Mr. Airey, one of the churchwardens, was in the chair,
and it was announced by the vestry-clerk that there were
four vacancies in the four-rate board, two for Moorfields and
two for Hoxton. There/ were two lists submitted to the
meeting, the one first broughtforward being strongly recom-
mended for support by its plbposer, Mr. Howes, as contain-
ing the names of gentlemen who would exert themselves to
procure a supply of gas for the parish on more reasonable
terms than at present. The second list was proposed by
Mr. Pearce. After a long discussion a show of hands was
taken, when Mr. Hasve e's, nomination was declared to be
carried by 1( 6to 4. A poll was demanded, and the meeting
then adjourned.
LANCASHIRE AND YORKSHIRE RAILWAY WEEKLY
TRAFFIC:—Week ending Sept. 15, 1850, 15,923/. Is. Od.,
miles open, 253; ; Corresponding week in last year, 12,912/.
3s. Od., miles open, 1964.
The Liverpool Town Council have claimed 2,100/.
from the parish as magistrates clerks' fees, and threatened
to take steps for the recovery of the amount." This de-
mand has caused some commotion. It has accrued by grant-
ing summonses for rates and passes for paupers.
01' STAGE COACIIES.—Two stnge coaches
have been started to run daily between Cambridge and
, London.
At Bolton, on Saturday, an officer of Excise was
committed for trial at the Liverpool assizes for baying s
i obn
-
tamed money under false pretence' s from different part
ie
the course of his surveys. Ile had received 4s. ed. for a to-
bacco licence, which was more than the ordinary charge,
from a beer-shop keeper:, to whom a licence had net been de-
liyei•ed. Then WV() cttig ag4ißht