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London, England, 1824-05-18 00:00:00

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(*.MIAMI)
had spoken of the tw chters as of leases
which had
expired; but what wao s the real history of
these charters ? In 1720, the two Companies were in-
and they were to pay 300,0001. each ; but
corpor aced,
in a subsequent year they were excused from paying mote
000/. each ; which sum they actually did pay,
than 150,
and the Act of Parliament stated that on giving three
years notice, and repaying the money advanced, the
charters should ceaseby the 16th section of the
came Act, it was provided that if the charters should be
found inconvenient, the King might at the end of 31
years revoke them. He (Mr. Grenfell) would put it to
the House, whether this was not a materially different
statement from that of the Honourable Gentleman ?
Ile (Mr. Grenfell) never would compromise his opinions,
from any regard to the situation in which he stood
with respect to the chartered Companies, but he would
contend that the application ought to have been made
to the Privy Council, and that it would be a gross
breach of faith if this Bill should pass into a law.—
This measure was certainly not a novelty, for it was the
forth attempt of the sort which had been made since
be had the honour of a seat in that Ilouse. The first
its in 1806; the second was in 1810, when the Hon.
Member for Taunt introdced the measure; the third
attempt on
u was made in 1811, when the Honourable Mem-
ber for Lymington advocated it, and the Bill went to a
second reading. The persons who then concurred with
him (Mr. Grenfell) in opposing it were Mr. Spencer
Perceval, Sir Vicary Gibbs, then Attorney-General,
and Sir Thomas Romer, the Solicitor-General. These
distinguished lawyers all opposed it, on the ground that
this House was not the proper tribunal, but that it should
go in the first place to the King in Council. In 1813
the same parties did bring the subject before the Privy
Council, but the opinion of Lord Eilenborough, who
happened to be present, was so adverse to the proposi-
tion, that no more was ever heard of it till the present
motion, which, he would again repeat, the House could
per consent to without a breach of faith.
Dr. LUSHING TON said, the Act of Parliament re-
ferred to by the Honourable Gentleman was framed
NI years ago, on principles which no man at the pre-
sent moment could consider, without saying at once
they were totally el roneous. The preamble stated, that
the establishment of the Oompanies was to give security
to the patties in u. ing ; but if it should appear that
only four parts in a hundred of the whole insurance
business of the country was done by these Companies,
it was quite clear that the Act of Parliament had failed
to effect its object. The Honourable Gentleman (Mr.
(irciiell) supposed that the Act of Parliament gave
these chartered Companies exclusive rights fur ever,
unless some person went before the Privy Council and
proved them injurious ; but the Legislature, so far from
having ties up its own hands, had been particularly
careful, and had, in fact, fixed two modes of doing the.
same thing.
Mr. T. WILSON thought the present Companies
rltist he protected, unless it could be proved that they
had been laird ul. He was of opinion there were but Jew
insurances but what could be effected by the under-
writers at Lloyd's, even without the two Companies;
and that at present the Public had all the advantages of
the re-pectable firms in the City ; for either one partner
signed for the others, or a broker at Lloyd's signed for
the %\ hole. With respect to the charge of 25 per cent.
by the broker, the Honourable Gentleman must be in
error, for the charge was only 5 per cent. He thought
there was nothing before the House to justify the asser-
tion i:bat these Companies had been hurtful, and there-
fore, under the words of the Act of Parliament, they
'ight to be protected. The proper mode, he thought,
would he to move a Committee to inquire if they had
been injurious, or to refer it to the competent tribunal.
Alderman BRIDGES concurred in the praises which
had been given to the underwriters at Lloyd's for their
liberal mode of transacting business.
The SOLICITOR GENERAL said, that without
pledging himself to a definite opinion, he thought there
was nothing in the Act of Parliament to prevent the
House recon-idering the subject.—Mr. BUXTON briefly
replit !.—The question was then put, and leave was
giver. to bring in the Bill.
Mr. BUXTON subiequently brought in the Dill, which was
read tee first time, and ordered to be read a second thug on Tues.
day, the aiith instant.
Dr. LUSIIINGTON gave notice, that he should on Friday
present a rcli!lotI from three British subjects, who had been scat
away by the Griverainwnt of India.
The other orders of the day were then disposed of, and the
Howe si:journed at a Qaartar to One o'Cleek.

14: EV EN ING ►7IAIt.

LONDON.

TUESDAY, MAY 18, 1824.
THE FUNDS.
STOCK EXCHANGE.. TWELVE O'CLOCK.

f'onsols opened this morning at 96,1 to for the Account, and for
'Money 96 to i ; for July Account 96&, I, and they continue at the
:am, prices up to this hour. There has been some business doing,
but to no great extent•

FOREIGN FUNDS.
There is not much business transacting in the Foreign Market
this morning ; but all South American Securities appear heavy.

Current Prices :—New Spanish 15, Old en Chilian floi to el,
Russian 961 to 97, Mexican Scrip 611, Austrian 961 to 97, French
!S, Colombian Scrip Ito 1, Colombian BS to 1, Alliance Shares
18 to 1, Greek 51 dis. New Prussian 99/11. Old 981, Irish stares
par to PaWhim par toll, Manchester par to I.
PRICE OF STOCKS AT ONE O'CLOCK.
3 per Cent. Reduced 95%'/
3 per Cent. Cons. 961/4 96-3 i per Cents. 1013/4 5/8
4 per Cents. Old 100% 7/8
per Cents. New 1077/8 % 108 107%
4 per Cents Assented 101% 5/8 5/8 %
Bank Long Ann4.2l 15 16 'N
India Stock 299 298% —lndia Bonds 775.
eq. Bills (£1,000) 375. 41s.—Small 365. 41s.
Do. Endorsed 21.4. • 'onsols for Acct. 961/8.

Last night, in. the House of Com Mons, Mr. Burnt;
ought in his Bill to enable Partnerships and Public
Companies to employ their capital in Maritime Insu-
., aut., from which they have hitherto been prevented
ley an Act passed upwards of a century ago, when ae
commerce of this country was trivial compared to what
it is at present. The Bill was opposed on the ground
of its supposed interference with Lloyd's Coffee-
House, an excellent establishment, and the Sun Fhe
Office, the ohly Companies that possess the privilege;
but M. • IlusKissox very satisfactorily removed all
doubts of this, by stating that these bodies only insured
(me twenty-fifth pact of the insurances effected; and

that ninety-sir pacts cut of 4ery hildred were with-
out such security. The Bill was brought in and 'read
a first time.

Frankfort Pagers to the 11th inst. and the Austrian
Observer to the sth, reached us this morning. They
contain some statements respecting Greece from the
Oriental Spectator, which has displayed g‘ its ruling
passion strong in death," and has terminated its course
with invectives against the Greeks.
The Austrian Observer contain's nothing but a long
and boasting account of the magnitude of the prepara-
tions of the Tut-Its for a new invasion of the 11,1orea ;of
their patience and equanimity in adversity; and of the
powerful assistance which their new Commander in
Chief, the Pacha of Egypt, was to give them, though
he did not mean to act in person himself, but had re-
signed the command to his :on 'stratum.

The Frankfort Papers contain intelligence from Alex-
andria, which agrees pretty accurately with the ac-
counts published in the Austrian Observer and other
papers, of the proposals made by the Porte to the Vice-
roy of Egypt, and his acceptance of them. But doubts
are expressed, both with respect to his intention of send-
ing his son InnaHtm, to take the chief command against
the Greeks, and with regard to the number of troops
that he will send; it is rather imagined that he will not
send .above 7,000 or 8,000 men as his contingent.
The following are further extracts from the Frank-
fort Papers :

FRANKFORT, MAY 10.

We have received the Oriental Spectator up to the
27th March. It will not be published any more; the
Editor has taken leave of his leaders. The Greek cause
is thus relieved from one enemy. The Editor of the
()lima! Spectator, in the course of his labours, had
drawn down on himself the reproaches of almost all
the Journals of Europe. Ilis partiality to the Turks,
his injustice towards Greece, have many times excited
the indignation of honourable minds. This man, it is
well known, is by birth a Frenchman: he is accused of
having been paid by the Turkish Ministers to extol their
humanity, and to write down the liberty of Greece.—
However this be, in closing the career in which it has
acquired so little glory, the Smyrna Journal contains
the following accounts.