The Sun.
London, England, 1844-03-29 00:00:00

SOUTH-SEA HOUSE.

Yesterday a Quarterly General Court of Proprietors of
South-Sea Stock was held at the Company's House, in
Threadneedle-street ; Charles Franks, Esq., the Sub-Gover-
nor, in the Chair.

The minutes of the last Court were read and confirmed.
The CHAIRMAN said that the present was the Half-yearly
General Court, and that the only business before it was for
him to make the usual declaration of the amount of the
Company's bond debt, and which was 4,5001.
The CHAIRMAN then said it had been requested that he
would at each Court of Proprietors state what was the
amount of the guarantee fund—it was now 376,0001. Three
per Cent. stock. The Court was aware that a long time ago
some of the Proprietors had expressed their regret that the
Company did so little with the capital which it possessed,
and several objects had, at different times, been suggested,
to which that capital might be applied with advantage. He
could assure the Court that the Directors did not wish to be
idle ; on the contrary, it was their anxious wish to promote
the interests of the Proprietors by every means in their
power; but it did so happen that the facilities for so doing
were not equal to that desire on their parts. The Company
was originally established for trading purposes. Its capital
was subsequently advanced to Government, and its funds had
since been treated and looked upon the same as other Govern-
ment securities. The majority of the persons holding that
Stock were persons who looked only to the amount of their
dividends, and there was consequently a very great difficulty
on the part of the Directors in undertaking any fresh matter,
the holders of Stock not being persons who were willing to
run any risk or hazard, and the Directors, therefore, felt that
any plan they proposed for the employment of the capital of
the Company must be limited to a something which did not
involve any risk ; and on considering that the plan must be
one of that nature, it had occurred to them, and it had also
been frequently suggested by the Proprietors, that the Com-
pany might act as trustees of either public or private trusts.
They had taken that subject into their most serious consi-
deration ; and although business of that kind could not be
conducted under the power of the charter, they still thought
that the Proprietors as a body might make some arrange-
ment by deed by which the business to which he had alluded
might be conducted. He was not prepared at present to
state the plan on which the business was proposed to be con-
ducted, but he hoped in a very short time a prospectus of it
would be laid before the Proprietors. He could not state the
particulars then, but the Proprietors would be furnished with
the fullest particulars in a very short time.
Mr. MOCATTA said that, if the obstacles that formerly
existed to the beneficial employment of their capital were
removed, it would be satisfactory to the Proprietors to know
that an addition was thereby made to the amount of-their
dividend.
The CHAIRMAN said the charter was not available to the
proprietary. The Directors had now done their duty, in
bringing the matter under the notice of the Proprietors,- and
he thought it was better that the plan they proposed should
ri
inquired
rforwarde d i
n
whatwayth e
go forth to the public through the usual channels, so that all
holders of the stock should at once be made aware that the
plaAn
PROPRIETOR
would
b e brought
prospectus would
be forwarded to the Proprietors ?
The CHAIRMAN—Either through the Post-office or by hand ;
but any Proprietor who did not have one forwarded to him,
nliett obtain one by application at the office.

On the motion of Mr. MocArra, thanks were voted to the
Chairman and Directors.
The CirmumAN briefly acknowledged the compliment, after
which the Court adjourned.

BRITISH-AMERIC AN LAND
COMPANY.

Yesterday the Annual Meeting of the Proprietors of shares
in this • Corporation was held at the London Tavern, for the
purpose of receiving a Report from the Directors relative to
the state of the Company's affairs, and on other business.
The Governor (Mr. G. R. Robinson) took the chair.
The minutes of the last general Court and of the special
Court having been read and confirmed, Mr. A. T. Galt, the
Chief Clerk, then read the following Report :
"At a special meeting of the Proprietors, held on the
30th of November, 1843, a statement of the operations of
the Company at that date was submitted, and the Directors
have not at present any further changes of importance to
report.

"The sales during the last year hare amounted to 34,859 a
acres, for 17,0311. 19s. 4d. sterling. This amount is secured
on the land sold, and bears six per cent. interest, being an
increase over the sales of 1842, of 25,547 acres, and 11,242/.
10s. 4d. sterling.
" In their last Report the Directors mentioned their having
sent their Chief Clerk, Mr. Galt, to Canada, to co-operate
with the Commissioner, Mr. Fraser, during the session of the
Canadian Legislature, in guarding, as far as possible, the in-
terests of the Corporation. ➢lr. Galt has since returned, and
reports that from the political difficulties that have arisen
between the Governor-General and his late executive coun-
sel, the session terminated abruptly, without legislating in
respect to the municipal institutions of Canada East. The
Directors can therefore only express their confident hope
that the longer period thus afforded the authorities for con-
sideration will enable them to arrive at a just decision on this
important question, with which the interests of the Company
are so intimately connected.

" In accordance with the wish expressed at the last annual
Court of Proprietors the Directors caused the solicitors of
the Company to apply to the Shareholders then in default for
payment, and they now submit a statement of the shares re-
maining unpaid, in order that the present Court may proceed
by forfeiture or otherwise, in collection of the same.

" To give the Proprietors a general view of the past opera-
tions and present position of the Company, the Directors
have caused to be prepared and appended to this Report a
detailed statement to the 31st December, 1843, embodying
this information, in order that, for the future, the annual
Report may contain the transactions of the current year only.
" The four following Directors and one Auditor retire on
the Bth April next, viz. :—Thomas Poynder, Esq., William
Petrie Craufurd, Esq., Russell Ellice, Esq., Edward Wheler
Mills, Esq., Directors; and Robert Carter, Esq., Auditor;
who, being eligible, offer themselves fel. re-election."
The balance-sheet was then read; giving a general state-
ment of the accounts of the Company up to the 31st of De-
cemlier last. Taking the value of the land possessed by the
Corporation at 10s. an acre, it was urged by Mr. Clarke that
their property was worth at least, when realised, upwards of
32,0001. The details of the balance-sheet were given with
the utmost minuteness.

The Report was adopted, and on the question that holders
of shares upon which the deposits had been in arrear should
forfeit their interest in the Company, thirty days' notice
having been given them, a vote to that effect was passed,
subject in special cases to the future discretion of the Court
of Directors.

The GOVERNOR, in reply to several questions, stated that
additional time would be given to holders in default resident
in Canada. It was intended by the Directors to dispatch Mr.
Galt, who was intimately acquainted with the affairs of the
Corporation and with Canada, as Chief Commissioner, • and
the Deputy-Governor, Mr. Cummins, should take the ar-
rangements of the home department Thus would the well-
working of the Corporation be secured, and the Directors
hoped the prospects of the Company improved.
Mr. CLARKE most cordially approved of the measures of the
Directors.

After some discussion relative to the Company's affairs, a
vote of thanks was passed to the Court of Directors for their
gratuitous but valuable services. _ .

The GOVERNOR, i❑ expressing his acknowledgments, re-
marked that there was every reason to suppose that Sir
Charles Metcalfe was favourable to the operations of the
Company. The new Governor had visited the eastern town-
ships (where the Company possessed, by purchase from the
Crown, 653,500 acres of land), and expressed himself in
favour of the eligibility of that part of Canada for emigrants
to settle.

An election having taken place to rill up vacancies in the
direction, &c., the Court, on the question, adjourned.

ATTEMPT TO INTERRUPT THE
MEETING OF MR O'CONNELL'S FRIENDS
AT LIVERPOOL.

LIVERPOOL, THURSDAY MORNING.—A most unfair and
improper attempt to disturb the meeting of Mr. O'Connell's
friends, to be held in the Amphitheatre this evening, has been
made by the ultra-Tories of this town, by circulating exten-
sively, and posting on the walls a placard signed " A Car-
penter," stating that it was the intention of that enemy to
the Queen, and ally of the Pope, Daniel O'Connell, to be
present at the meeting, and calling upon the carpenters to at-
tend also, and do their duty. This placard was extensively
circulated yesterday. In the afternoon a requisition to the
Mayor was got up, and placed in the room adjoining the Ex-
change News-room, calling upon that worthy functionary to
put a stop to the meeting, because the excitement created
in the minds of the loyal inhabitants would not permit the
meeting to take place without interruption and great danger
to the public peace. It did not, however, meet with very
great success, having received only fifty-seven signatures.
It will be presented this morning ; but we can hardly sup-
pose that our Chief Magistrate will think it necessary to
bestow attention on it. The meeting will be held, and we
have no doubt will be peaceable and orderly in itself, though
it may perhaps require the assistance of the police to keep
in order the turbulent Orange faction who may come there to
interrupt.

The following is a copy of the requisition to the Mayor :
" Liverpool, Wednesday, March 27, 1844.
" Sir,—We, the undersigned, having noticed that a meet-
ing has been called, by placard, to take place to-morrow
(Thursday) evening at the Amphitheatre, tbr the pu'rpose of
sympathising with convicted conspirators,' impugning' the
justice of the administration of British laws on the occasion
of the recent State Trials in Ireland, and interfering with the
judgment still pending, cannot refrain from expressing to
your Worship our sense of the indecency of such meeting,
and our firm conviction, that such is the excitement which it
is creating in the minds of the loyal people of this borough,
that it will not be permitted to take place without interrup-
tion and great danger to the peace of the town. We, there-
fore, respectfully request, that your Worship will use the
functions of your magisterial office to prevent such meeting
being held as proposed."