The Sun.
London, England, 1845-01-04 00:00:00

200
£2B, 1651 ,
M. MA'
Dated the 2d day
of Januf

BANKING D:

1114°Priebire capi-
tal
14,553,000
b 3, ...............
3 113 267
',e 4: ...............
_, /
c üblic deposits
(including Ex-
ehequQP,Savings
banks, commis-
sioners of Na-
tionalbebt,and
dividend
o-
„ th eounts)
...er de °aft. aSeverc . 7,411,605
; ::. 8,265,079
ciPa! and
other bills
...... 984,540,

434,327,4911
Dated the M. MK
2d day of Janu
9•11•21V..•01.
COURT OF SEWERS.
S"me colirt of Sewers for Westminster and part of
tsohoutesex
met yesterday, in their office, Greek-street,
calarel Thomas Leverton Donaldson, Esq., in
The lr.
ton "IY business of any interest was the nomina-
et -
iresls' a chairman in the room of Mr. Donaldson, who
-.
IsUre -;), t RouGirroN, the magistrate, had great plea-
geuti:" Proposing Edward Willoughby, Esq., as a
cilacrnan every Way qualified to succeed their present
com-zan. His experience of the business of the
trains--18si°11 extended over a period of ten years ; his
°soe ra legal qualifications well fitted him for the
and, being of independent property, he would
the e better enabled to devote the time necessary for
ttssefficient discharge of its duties. Whilst his busi-
von, habits were of a first-rate order, his courtesy
Inerntzlet be exceeded ; and the general esteem of the
them et that Court was abundant evidence that
by; Proceedings would, under his control, be marked
eeguiarity and good order.
ing4,l3,_tain BAGUE, R.N., had great pleasure in second-
sz le nomination of Mr. Willoughby. He (Captain
tittiltse) knew all the members of this Commission,
qu,ee did not think another could be found so well
The
as that gentleman.
forVLe CHAIRMAN, while thanking the Court for the
self rbaonrcee exhibited on many occasions towards him-
~hiChwitness to the many estimable virtues
knM Mr, ade Willoughby esteemed wherever he
own.
A few
aation °o• Commissioners joined in the conver-
tiori There was no other candidate, and the elec-
tor witli appointed (in terms of the 17th bye-law)
future Court day.
ne Court then adjourned.

£34,327,491
,SHALL, Chief Cashier.

Lary, 1845.

THE STAMP
Son,. .• ACT.
tor ••• time THE
we called attention
y state of to the unsatisfac-
S far
oil b__ , . the tamp Act, soas regards its effect
fix ;noting. As the session is approaching, a hope
dis
tsZtessed among the banking interest that some amfenthe-
14,;tnlaY take place, and a summary of the stateo
the
.6_ that seems to require amendment is
'given in
ghatkes' , Magazine, with the view of showing the public
111"8 the real position of the case. Of the statementsand
lettee in that work respecting bankers' licenses and
res rs of credit, we may usefully avail ourselves. With
Peet to bankers' licenses, it is provided by the Stamp
re, that e banker who issues notes shall annually
30L tothe for license to do so, and
tint._ Government a.
of
eaci;'er, shall take out a separate license in respect drawnwn or place where such notes are issued or
TT
tiler ; under the Act 7th and Bth Victoria, c. 32,
04, e la a proviso that it shall not be necessary to take
10.1,,1n0re than four licenses for any number of places at
tt'ileh notes were issued under four licenses prior to the
Dr_ (3.f Alay, 1844. The Act, 9th George IV., cap. 23,
three that bankers (except those residing within
app ee miles of London, and those in Ireland
1411R' Sc°,tland) may draw and issue unstamped
11,1 -131 mu notes on payment of 30/., per an-
ttil, for a license, and an ad valorem duty
bst the amount issued. This enactment frees the
€ir era from the necessity of continuing their notes in
Nell_ lation after they are too much worn for use. How-
app' one one result of the Act is this—that many bankers
do not issue notes, and compound for the stamp
kb( on the bills they issue, have to pay the same
tiii:el,_t for a license as a banker who, in addition to his
1.11,''',11a5 an extensive note circulation. The result of
0411,41'w. thus pressing unequally on the non-issuing;
el' 18, that an inducement is offered to evade its

provisions. It is a notorious fact, that many bankers
instead of taking out a license to draw unstamped bills,
draw letters of credit payable after a stated period.
That these are not transferable, like bills, is not very
material, as the London agent pays the letters of credit
on the simple endorsement of the holder without identi-
fication. The revenue thus sustains an obvious loss.
It is suggested as a remedy that the powers of issuing
notes and drawing unstaawed bills should be granted
under separate licenses. As for letters of credit, the
law respecting them seems to pres-nt peculiar difficul-
ties, so that it. is doubtful whether, according to th^
55th George 111., c. 164, they are legal without stamps;
at all, although they are in constant use, a:id their con-
venience is generAy acknowledged.—Times.

ROYAL THAMES YACHT CLUB.
EXPULSION OF A MEMBER.

The monthly meeting of the members of this club was
hf4d last evening at the British Coffee-house, Cookspur-
street. Th 9, room was crowded to excess by nine o'clock,
at which time the Commodore, W. Harrison, Esq., took
the chair.

Mr. REYNELL addressed the meating on the subject of
a motion, notice of which he had given on the previous
monthly night, for the expulsion of a certain member
who had published some letters in a weekly paper with
reference to the disputed case of Lord Alfred Paget's
Mystery and Mr. Wilkinson's Phantom. At a subse-
quer. t meeting of the club the statements he had made
on the subject were declared by a majority of the club-
-43 to 3—to be of a libellous nature. A motion was then
about to be given for the expulsion of the member, when
he consented to retract and apologise through the same
source as the letters had been promulgated, and did so,
but on the very next occasion that presented itself be
reiterated the statements above alluded to.

The notice for the expulsion of this member (M. H.
Fowler) was accordingly carried last evening by a majo-
rity of 42 black balls against 8 white balls. The result
of the division was received with loud cheers.

A letter was then read from Lord Saye and Sele, in
which that nobleman, after complimenting the Commo-
dore in the highest terms, expressed his determination to
give a hundred guinea cup (as we understood) as a
mark of his satisfaction at the Commodore's return to
office.

The club expressed their warmest thanks, and it was
carried that the latter, in the most complimentary
manner, should be expressed to his Lordship.
Other business having been disposed of, the club sepa-
rated at a very late hour