Star.
London, England, 1825-06-02 00:00:00

LONDON UNIVERSITY.
—ie.- •

The following is an abstract of Mr. Brougham's Bill,
the preamble of which sets forth, that it is expedient to
enable the inhabitants of the Cities of London and
Westminster, and the Borough of Southwark, to esta-
blish a College for the education of youth in the sciences
and in letters, which cannot be formed without tire
sanction of Parliament, though a body ef Proprietors,
not yet named in the Bill, are willing to erect and esta-
blish tbe College at their own expense. The share-
holders are to be incorporated under a style and title
which is left blank in the Bill, and have a common seal.
the Company is to be empowered to raise a compe-
tent sum of money for erecting and maintaining the In-
stitution, which may consist of a College or Colleges.
This sum is to be divided into shares of a given amount
each, but that amount is also left blank in the Bill, and
these shares are to be considered as personal estate,
transmissible as such, and n-t of the nature of real pro-
perty. An additional sum, if necessary, may be raised
among the Company of Proprietors themselves, or by
the admission of new shareholders, as they think fit.
Tice Cosnpany is to hold general assemblies, giving
previous notice in the Gazette and London Papers.—
These meetings are to be held once a year, in some
place in the City of London or County of Middlesex ;
and the Chairman appointed at each wetting may vote
as a proprietor or a proxy, and also have the casting
vote in case of an equal division of the proprietors.
These general assemblies are to have the power of ad-
journing from time to time, and an assembly of the Com-
pany may be specia ly convened by notice as aforesaid.
The Company may make, repeal, or alter by-laws
for the government of themselves, their professors, stu-
dents, officers, servants, or agents; and may fix and
appoint fines, and penalties, not exceeding an amount
and degree winch is yet left blank in the Bill. The
Directors are to be appointed by ballot, in a box or
wheel, and Auditors for examining and passing the ac-
counts of the Institution. The Company, or the Di-
rectors, may sue for the amount of the subscriptions of
such shareholders as shall refuse to pay them up. On
the death of a subscriber before his shares are fully paid
up, his executors may complete the payment. The Di-
sectors need not sue for non-payment of shares, but
may, if they so think fit, declare the money already ad-
vanced forfeited to the Institution ; and notice of that
declaration will be a sufficient indemnification to the
Proprietor not paying up his subscription-money from
all actions, suits, or proceedings, on that accounr. No
more of the shares of such defaulters are to be sold than
may be sufficient to make up the deficiency, together
with the interest and expenses attending the same. The
Proprietors are to be individually and personally liable
for all debts contracted on the part of the Company.—
Shares may be sold or disposed of under a specific form
of conveyance; but' atter a cell for an advance upon
the former subscription, no share can be sold or trans.
ferrpd until that call is paid up.
Corporations and individuals may sell or convey pro.
perty to the Institution under a specific form of con.
veyance; and all such contracts, agreements, or sales,
are to be made at the expense of the Company.
—The form of conveyance is not to be required
in the re sale of lands by the Company. The
words " grant, bargain, and sell," in the conveyances,
are to be construed and adjudged, in all Courts of Ju-
dicature, as express covenants for title. Services of
notices or set its are to be made upon any of the Di-
-- upon the Clerk of the-Company, or left at