The Sun.
London, England, 1844-06-05 00:00:00

COTTET-rASZIONAI3I.2I.

The Duke of Wellington is expected to return to Apsley
House on Friday, from his visit to her Majesty at 'Windsor
Castle.

The Duke and Duchess of Leeds are expected to leave the
Clarendon Hotel, on Sunday next, for the Hague, where the
annual sports of the Falconry, or Hawking Club, of which
his Grace is a member, will shortly commence.
Viscount Melbourne returned to South-street on Satur-
day last, from Brocket Hall, where his Lordship had been
passing the Whitsun recess, and on Monday his Lordship
dined with the Corporation of the Trinity House, he being
one, of the elder brethren of that body.
The Marquis Conyngham, accompanied by the Earl of
Mount Charles and the youthful ladies Conyngham, embark
shortly from Southampton (where his Lordship is occupying
Belle Vue House), on board his Lordship's yachts, Flower of
Yarrow schooner, and Seaflower cutter, for Ireland. His
Lordship hoisted his flag last week as Commodore of the
Royal Southern Yacht Club.

the Earl and Countess of Winterton, and youthful family
are sojourning at the Countess Dowager of Winterton's house
at Brighton.

SCELMANBOUB.
The Emperor of Russia has announced his intention to
give annually, as long as he lives, the sum of 5001., to be
added to the race fund of Ascot—thus liberally and nobly
following the example of his son, who, it may be borne in
mind, contributes 3001. every year at Newmarket, to be run
for under the name of the Cesarewitch Stakes.

On Monday morning the West London Railway was opened
for public traffic as far as its junction with the Great Western
line, but the station and other r,reparations at its, junction
with the London and Birmingham line not being completed,
the opening of that portion was deferred until this morning.
Since Monday trains have been running to meet the nine,
eleven, and half-past six o'clock trains on the Great Western
Railway ; and from to-day trains will also meet the seven,
half-past ten, three, and six o'clock trains on the London and
Birmingham Railway.
A Parliamentary return has just been issued, on the
motion of Mr. Hume, giving an account. of the law and
other expenses incurred against persons for smuggling and
frauds iu the Customs for 1842 and 1843. In 1842, in Eng-
land, there were 815 prosecutions, the expenses of which
were 3,254/. 15s. ; the duties were 521. 10s. 2d. ; the penal •
ties, 1,7821. 7s. Id.; and the amount received in compro-
mises was 694/. 19s. 4d. In 1843, there were 1,147 prosecu-
tions in England, at an expense of 5,599/. 15s. 7d. ; the
duties were 267/. 16s. 6d. ; the penalties, 943/. 12s. 9d. ; and
the compromises amounted to 2,533/. 16s. 4d. In the two
years the expenses were 8,856/. 10s. 7d., and the amount re-
covered 3,228/. 15s. Bd. A similar return is given respecting
Ireland and Scotland. On the whole, the expenses in the
United Kingdom were 10,117/. Bs. 6d., and the amount reco-
vered in compromises was under 5,000/.
On Sunday evening a numerous meeting was held at the
parochial school-rooms, Church-street, Islington, on the sub-
ject of the Bill for the regulation of religious trusts. The
Rev. Daniel Wilson, M.A., vicar of Islington, took the chair;
and there were present the Rev. J. Hambleton, the Rev. J.
Venn, the Rev. G. Smith, and several of the parochial clergy.
Several addresses were delivered, and resolutions condemna-
tory of Lord Lyndhurst's Bill were unanimously adopted.

THE EMPEROR. NICHOLAS AND
THE POLES.

Lord Dudley Stuart presents his compliments to
the Editor of The Sun, and would feel obliged by his
inserting in his columns the accompanying letter,
addressed to Lord Dudley Stuart by the Marquis of
Northampton.—June 4, 1844.

MY DEAR LORD,—I am induced to address to you
the following observations, as I think that it is im-
portant they should be made public by some one,
although I an quite aware that they must occur to
the minds of most reflecting persons. I believe that
they would come better from myself than froth almost
any one else. In saying this, I am actuated by no per-
sonal vanity; it is not from personal considerations,
but from those of the official situation that
I hold, that I have forrped this opinion.
As President of the Royal Society, I am
the official, though in no other way the representative
of English science. In that capacity lam neutral in
politics, though I have of course the same right as
any other individual to express my opinion when not
in the President's chair. It is this official neutrality
that encourages me now to address you. In my
official capacity I am bound to express the sense en-
tertained by men of science in England for the liberal
manner in which the Russian Government promotes
the advancement of knowledge, and especially for the
kindness with which they received the present Presi-
dent of the Geographical Society, Mr. Murchison, in
his recent geological tour in that country. Still
more am I called on to state how much the Royal
Society feel the cordial manner in which the Emperor
has supported the great magnetical inquiries now going
on under the sanction and at the expense of himself,
of our own, and of other enlightened Sovereigns.
It is not, however, for the purpose of making the
foregoing prefatory observations, that I write to you,
nor yet for that of saying that nothing shall prevent
me from expressing my own individual sympathy
with the many brave but unfortunate individuals for
whom you take so deep an interest, and whose pa-
tience in poverty and exile must excite respectful
admiration in every generous bosom.
My object in writing to you is to make some re-
marks on the approaching Polish ball. I rejoice to £61,952 11 6
learn that it is not intended to postpone it in conse ••
From which sum is to be deducted the amount
P of the wholly irrecoverable debts to the pe-
quence of the arrival of his Imperial. Majesty. lam rind of balancing the books at October, 1843, 16,639 18 0
convinced that the committee have acted wisely in Leaving to meet the further losses which may
coming to this decision. I feel sure that the Em- arise on doubtful debts, but the exact amount
peror would not have felt at all obliged by the post- ofae which. cannot be ascertained until each
count is finally woud u
ponement, and that he would, however mistakenly,
" The loss upon these doubtful debts can at present be only have considered it as rather an act of servility than a matter of conjecture, subject to a variety of contingencies.
civility, and, therefore, rather deserving of contempt Should the state of the colonies improve, and the value of the
than gratitude. Indeed, it would have conveyed no main property in them, namely, land and stock, advance,
very flattering compliment to his own feelings. If, such improvement must tend to diminish the ultimate losses
existingot thßaitik ; one
depression
other. handt, af long continrauvaantceetgbtthe
indeed, the ball were to be postponed on account of
any other fete on the same day, which would inter-
But, tshaetDirecetoprrsestrmukintrel,
may repeat
repeat aggravate
confidence
fere with its success, that would be a very different what has already been declared in the report, that even if
and'very proper reason for the delay. the amount now available to meet losses should prove in-
I trust that the Emperor will understand that no adequate, and involve an encroachment on the rest, it would
incivility to him personally is conveyed by those who not, under the most disadvantageous circumstancest thatt they
p aanr e
(la t iNpvri ets: ntt
eo nst
ue mmp lbaot
we , et
aonfd
icbogn sai dt e rtab
el c et. xe
can
o,f that
like myself intend to be present at the ball : any in-
c
tentional slight or affront to so distinguished a account; and any encroachment would become altogether
foreigner would be disgraceful to our national cha- unnecessary, if the profits of the next two or three years
ratter. lam sure you will allow me to take this I should admit
Fund. of further moderate additions to the Bad-debt
opportunity to address a few words to the Poles I
themselves. I am convinced that to the greater lat "tUrleaesathil,Letotingth,e wish expressed by several Proprietors
a balanced account of the assets and
number it must be quite unnecessary; but there may 1 liabilities of the Corporation is also given, showing, in con-
be some young and -ardent spirits who may require nexion with the other two statements, the actual position of
to be reminded that the exalted personage who has ; its affairs.

The amount of the rest, or un-
divided profit, at the 10th of
Oct., 1842, as shown at the
last annual meeting, was
'To which are now to be added
tLe profits realised both in
the colonies and London, to
the 16th of Oct., 1843, after
defraying all expenses in-
curred £83,441 8 9
From which sum has been
taken this year, to be placed
Co the credit of Bad-debt

Fund .X29,000 0 '0

Deduct therefrom the follow- .
ing payments to the Proprie-
tors, viz.
April dividend, 1843 £27,000 0 0
October dividend, 1843 £27,000 0 0

54,441 8 9

£168,854 10 3

54,000 0 0

Leaving as the amount of the
rest, or undivided profits, on
the 16th of Oct., 1843

£114,854 10 3

"In deference to the wishes expressed at the last annual meet-
ing, and under the peculiar state of affairs in the Colonies, the
Directors also annex a statement, showing the amount and
appropriation of the Bad-debt Fund, which has not hereto.
fore appeared in the accounts submitted to the Proprietors,
although the existence of the fund was not unknown to them,
the prudence of having accumulated which, in times of pros-
perity, will, the Directors trust, be now fully apparent. ,
Balance of Bad-debt Fund at October, 1842.. £.32,952 11 6
Added thereto at October,l843

ASSETS. 0
Government stock, specie and cash £255,237 la I
Landed property and bank premises 13,479 0 4
Bills receivable and other securities 1,486,319 2

LIABILITIES.
Capital £900,000 0 0
Circulation 73,845 0 0
Bills payable and other lia-

._---- 5
£1,755,035 1i

bilities
Deposits .. 487,146 7 9
Bad-debt Fund 45,312 13 6
Rest or undivided profit
£1,755,035 li
" The Directors further announce that the second ins!l%
ment of 101. on the new shares will be included in the (1,
dend to be declared in October next, after which period 0
new shares will stand in all respects on the same tooting
the old shares.
" Regretting, as the Court of Directors do, that they bare
not been able to make a mere favourable report on this ""0
casion, yet they look with confidence to the internal resourcfor
of those vast Colonies, and the energy of their population 0.
a restoration, within a reasonable period, to a state of I)
perity, while they have the gratification of stating, th 3,00
".
no former period has this Bank stood in higher estinis°
than it does at present.
(Signed) "CHARLES MORRIS, Chairman;
" Bank of Australasia, London Office, 2, Moorgate-sire'"
" 3d June, 1844."
The CHAIRMAN then said that now, perhaps, he illigi/e!
be allowed to say a few words on the subject of the rr,
port, and he should commence by referring to that rbe
tion of the account, called the Bad-debt Fund. lis;lAtpr3
Directors brought this point before the Sharebeo,
before, they might have been blamed for the large aPPrI
priatlon of profits to meet such contingencies. Tileioc:
however, felt that their scale of profits justified them a
.
such a course, and it now appeared they bad only acit:esa
with common prudence and forethought. lhey mod
done this on their own responsibility,
_lbs
31 at the risk of being told that they ",to
have increased the dividend instead of allowing,
large an accumulation of the rest. In fact, they
only taken the necessary precaution to provide agall3',
those casualties in business to which all similar establi?
ments were liable, and he would put it to the meeting
to say—whether, if the Directors had erred, they )1,),),
not erred on the side of prudence.—(Hear, hear.) e•
amount of rest in a banking establishment was ge!l •
rally considered one of the chief elements of security'
and it was with this view that the Directors, in the pre;
sent instance, had kept the Bad-debt Fund and the reit
distinct.—(Hear, bear.) Out of the Bad-debt Fi10,c14,,0
would be seen they had taken 17,000/. to satisfy oeol
proved to be irrecoverable, and the remaining 45,°%,
would go to liquidate those which might yet turn 01100/.
be of such a character • leaving the "rest" of 114,8 ,4
(if interfered with at all), interfered with only to a vt.e'll
immaterial amount.—(Hear, hear.) The Chairman tPe.
concluded his observations by stating that in the 195)0;
meat of the next dividend, the new shares would be
the same equality as the old.
In answer to a questioi. from a Shareholder,
The CHAIRMAji said prudence forbade him to ple,fie,
himself on the subject of the amount of the next °I
to
dend. Ile did not think it right he should do so; b°
saw no reason to apprehend that the dividend would n
be at the same rate as previously paid.—(Hear.). of
Mr. LEVI said he should like to see the meetwgstba
this bank held half-yearly instead of yearly. It was 0•
case with the Colonial Bank and the Union Bunk of , 0
tralia, and many other Companies he could name. "
d'
Mr. WILSON supported this proposition, as dOl
the
several other Shareholders, but the motion before 1
chair being the adoption of the report, there was a gefil
call to order.
The report, after some discussion relative to the II;
priety of adjourning to consider its contents—a view
ported by Mr. Sergeant Gaselee, Mr. Hill, Mr. Frl3":i,ioa
and others—was carried unanimously, and the prof°.
of Mr. Levi put in the shape of a resolutio was
Mr. A. A. GOLDSMID and Mr. G. R. Ron, BINso:4, p
in favour of the appointment of meetings half-yes:llo' d
would increase confidence between the Directors of
Shareholders, and give the former the opportunitkei
communicating to the latter any news of importance w
might have received.
The resolution as moved by Mr. Levi, and seconded
by Mr. Wilson, was then put and carried. dal°
Mr. DE CASTRO said he saw by the annual return as(
liabilities and assets of the Bank, that under the it° fie
assets, bills appeared for the amount of 1,480,0001 in
wished to know if that item had been much increase's
the last year. a id
The CHAIRMAN said certainly it had increase", 00
by the accommodation afforded much good businos,
been brought to the bank.—(Hear, hear.) It couhis to
said without vanity that the Bank of Australasia "if. the
as high estimation as any other of the banks ° boa
colony. To show the 'class of customers they the
secured, he would just state that the deposits o,doei
banks had increased upwards of 100,000 L in 6)
al one.
A SHAREHOLDER inquired what power the garlilegieff
had in Sydney to prevent the local directors, Oaths
whom were merchants wholly unconnected with fie
bank as Shareholders, from using their influence t°
commodate themselves or their friends ?
$ll
The CHAIRMAN replied that the Manager boa ,ode
absolute veto.—(Hear, hear.) This was the best 'oie
that could be adopted to protect the interests °' a
Bank. The present Superintendent (Mr. Hart) vosl•
man of great experience, and he (the Chairman) °urea
dered it most fortunate for the Bank that they sec
heft
his services. He (Mr. Hart) arrived at a moment re'
all the firmness that could be brought into action."' ta/
quired to protect the interests of the Bank, and it Ties
have been a task of great anxiety to meet the diffio°
op
which he experienced. Ile (the Chairman) alostA, to
that the Shareholders were under a debt of gratitude
that gentleman.—(Hear, hear.) ed
A SHAREHOLDER said the Chairman had info' 0d
them in his report that the branches at Bathurst Ate
Maitland bad been su•pended. Would he please t °
some information about the poor Adelaide branch li,ol'
The CHAIRMAN said it had been found that in ag.'oo et
tural districts banks did not attract that descrietit the
business which was profitable to them. To lac for°
dealings of customers generally resolved into 10a05.,00
term of years. With respect to Adelaide, that (17 be
0
possessed a port, and the inhabitants appeared di
rapidly becoming a commercial community. As f/ st teed)'
and progressive revival was taking place in that cluoight,
the Directors had hopes that a profitable business the
be done by their branch ; the only drawback WIT eye
the distance prevented it being so closely under till)
of their Superintendent as they could wish.—(gee
que
The question was then raised of the increase oft oie
lification of Directors, and, after a lung debate, f
,er
was given for calling a special meeting to coot:sea/8'
matter, as, according to the terms of the deed c" ast,'
ment, it could not be entered into at the present°, 09.'
The retiring Directors, Samuel Eustace Maga° were
Richard Norman, Esq., and William Sargent, FA"
then re-elected unanimously. ;pa
ith
The remainder of the proceedings was oecn.P; Ito
complimentary addresses to the Directors, by lir". fe
Robinson, Captain Grover, Mr. Wilson, and '°,,,raiteti.
ter; and votes of thanks to the Secretary, sur-
dent, and the other officers of the Bank. ver
The CHAIRMAN, in returning thanks for tha se
docsa
votes, said he was fully impressed with the kin, 300 e,
which they were passed. On behalf of Mr' 0
he thanked the meeting, and said that there ". 0011
member connected with the Bank, more indefatiga fiatio
that gentleman; and it afforded him (the C133,i 01PiP'
much pleasure to find that the Shareholders so
_ _

preciaied his (Mr. Milliken's) exertions.
The meeting then separated.