Star.
London, England, 1829-09-18 00:00:00

BANK OF ENGLAND.

YtBterday morning a meeting (.t. the Proprietors ul
Rank Stock was held in the Court Room of the Bank of England,
for the purpose of declaring a dividend on the capital stock of the
Company, and on other affairs. There wss a numerous attendance
of Proprietors, in consequence of an understanding that matters ol
high importance, connected with the circulating medium, &e.
would be brought under the notice of the Court. There were man)
Country Baiikers press nt.
At twelve o'clock the Governor, Deputy-Governor, and a mg-
jority of the Directors, entered the Court-room ; and
The Governor (Samuel Drewe, Esq.) having taken his station,
the minutes of the last Court were read. On the motion that they
be confirmed,

111r.Youriu inquired whether it was not usual to read the minutts
of the Court at which the March dividend was declared?

The GOVEN.NON. stated that the course followed that day was the
sante as had been adopted for snore than one hundred and twenty
years past, and there was uo reason for departing from such a coure.
Mr. YOUNG was desirous to know whether the resolutions which
he had proposed in March last, and which bad been regularly
seconded, had been entered on the minute►?

The GOVZRNOR answered, that other Courts had since that time
been held, and the minute; of such Court had been confirmed.
Mr. YOUNG:111 1 dei,ire to know is, whether the resolution%
were entered on the minutes.

The GovanNon replied in the affirmative.
The minutes of the last Court were then confirmed.

The Govinasoa said, that this was one of the quarterly Coars
held in pursuance of the terms of the Charter, and also for the de •
claration of a dividend. The Court of DirectorF, after a full in-
spection of the Bank accounts, had agreed to recommend a divi-
dend of four per cent. on the capital stock of the Company for
last year. Was it the opinion of the Court that that dividend be
agreed to?
A Paoruavoa moved u an amendment, that thire be a balance
sheet of the bank account submitted to the proprietors before they
agreed to the dividend. By the terms of the 11-laws such a coo: se
was deemed imperative.

The Govitaa.ou asked if the amendment was seconded? which
not appearing to be the case, the motion dropped ; and the G,
vernor again put the question that the dividend be agreed to.
Mr. Yoe'o said that, before that question was put, he would
claim the attention of the meeting. He hoped that the court would
not come to a hasty decision. By the terms of the charter t!,.•
proprietors had a full right to s,e the state in which the bank a. -
counts were before they agreed to a dividend, and the by-laws also
confirmed him in this statement. He had no doubt but that the Court
of Directors had fully considered the dividend, but to him it was
matter of doubt whether a dividend declared in the manner now
proposed was legal. By the by-laws it was required that the pro.
pricier, should look into the affairs of the bank before they agreed
to a dividend. Having said thua much (continued the Ho .
Proprietor), may I be allowed to inquire what is the amount et
your iseues for which you have received value, and which has not
been redeemed by payment.? . That is the first question I shad
put, and hope to have a full answer.
The Govaaxoa oluerved that the Honourable Proprietor had
frequently asked a similar questim, and had received an answer
to It.

YOCNG—My question is, what is the amount of bank note,
issued that have not been redeemed by payments ? It was highly
important to know this its the bank acted as private bankers, and
the deposits placed in their hands were a part of the circulating
medium. It was Ma:re:ore impi)rtant that the amount of deposit,
should be known.

The GOVLRNOIt had no obj.•ction to state the amount of the cir-
culation, which was l8,87:;,740/. But it was not considered
viable that the amount wf the deposits with the bank should !..!
stated. Such inforrration should be kept scctet.
Mr YOUNG again pressed his question regarding the dep..sit
The GOVERNOR stated that all questions relative to the amount of
deposits were referred tram time to time to the court of director •
and disposed of by that court as it appeared to be reptile' t. 11.
was of opinion that the best sy-tem to he pursued in the pre.t.nt
case would be that which had heretofore been constantly et:tiler...a
to ; it was a system which bad secured public confidence. and
recogni,ed by the people of the country as well as by the pull -
ment or the country.

Mr. Youstu agait; presented himsel. He • begged km of the
court respectfully to go back to die question abou: the bank depo-
sits: He had a., high an opinion of the court or directors as Ally
proprktor could have ; but for the prop:icier, at large to meet
from time to time, and adjourn without such questions being :111.
swered, wab incon.i.rent with tb...ir chAr..cters a% mercantile m.-tt.

The CHAIIMAN said it was impo.sible for him to give tke itifer•
melon required ; it had always been withh-::1, and that, too,
the fuH cuti,ent o the Proprietors It the llon. Proprietor h ..1
any nwion to mai-v. it would undoubtedly be received.
3lr. Toes then 4dwarced to :he table and put a re-olution, th..:
the Court of Directors do lay before the Proprietors the am:Adit f
deposits of bank notes, &c. made bylndividu Is with the company
and that kt the same time the amotau at present in circulatioa be
stated. ma as that the pre,nt state of floe Compzny be fairly ascer
tAned.—The motion having been seconded, and put from the
chair, was negatived by a considerable majority.
The CHAIKUAN then addresvd the Court. and put the usual
q•,estiun as to the halt-yearly dividends. viz —•• That a d,vidend
of four per cent. be declared for the half-year, from and :Alit lb,-
10:h of October next."'

Mr. Inoue= moved that a divr.lerd of ten per cent fir
same period be declared—CA laugh..)
A uteidend of four pet cent. was then declared.
Mr. out. again presented himself. He could not ahoy, tl.e
meeting to separate without once mote bringing his motion as 1.1
the depo,its forsiard. ifthe Court nt Directors continued con-
duct their affairs with so much apparent •eerecy, Co Propri-t.tr
could tell the result. He begged to lay before the Court the Reso-
lution which he had so ofteobefore brought forward. He diJ t.ot
mean tilt se Resolutions to be adopted sudtleiAy, I u: that tin. Coail

v

II

mIIIe•

might weigh them, and that the Proprietors in future might meet
the Directors with cordiality and confidence, so necessary to so
great a body as the Bank of England.
The Govamon interposed, and said, that the only question re-
ularly before the Meeting was one of adjournment.
Mr. Assms said that the Court could not entertain the motion
ef the Hon. Proprietor.
Mr. Parse objected to such procedure, notwithstanding his re-
syect for the Colin of Directors. The lion. Proprietor's motion
ought not to be got rid of in that way. It was the practice of
every public body to give the information required, and the with-
holding of such information was inconsistent with the honour of the
Court of Directors.
The COMMOa again interposed. He bad no wish to get rid of
the opinions of any Proprietor—(Hear, bear).
Mr. Payne said, the question proposed by Mr. Young was so
cassia's that there could be no demurring on the subject. It could
not be doubted but that the Bank were pledged to the full amount
the notes in circulation ; and he hoped that, at the next Court, a
declaration woule be made by the Governor as to the amount of the
liabilities. The Governor bad said that the Court followed the same
course as it had done for the last century ; but times had greatly
changed, as the public now made deposits with the Bank, and thus
'he demands upon it were increased. There were many persons in
the commercial world who looked with considerable alarm at the
-rest responsibility to which the Bank of England was liable from
the large balances in the bands of the Bank. The amount of the
;old and silver, in the aggregate, in the hands of the bank was no
doubt considerable ; but should those having large balances in the
hark demand payment at a time of any alarm ruinous consequences
might ensue. He, therefore, approved of the motion of Mr. Young,
as the public ought to be aware what was the amount of the lia-
bilities and assets of the bank. He trusted, therefore, that at the
next Court the Governor would come prepared with such infor-
mation.
The Govsanon said, that a similar motion had been put to the
last Court, and was negatived by a large majority. He was in the
hands of the Court.
Mr. PAWNS said, that, without some substantial reasons were
given for not affording the information. the Court had a right to
expect that the Directors would be prepared to give it.
Some discussion arose upon a point of order, Mr. Astell, M.P.
(=tending that the question of adjournment should be forth-
with put.
The Gol'llo4oll put the question of adjournment, and it was
carried by a small majority.—The Court then adjourned.

THE EVENING STAR.

because I have noticed the eagerness to male it believed that no
expedition was intended : an eagemen shown by many of the mer-
chants here who had letters, and also because our defenceless situ-
ation was well known at the Havaunah—for even noes we are not
in a proper state of defence. What a shame !

Yesterday at three o'clock, the Court-martial as-
sembled on board the Victory, to try Capt. DICKENSON
at the instance of the Board of Admiralty, on various

charges of insubordination and general misconduct at,
and after the battle of Navarino, pronounced a j dgment
of HONOURABLE ACQUITTAL in favour of the gallant
Defendant. The judgment was received wiih rap-
turous applause by the crowd in Court, and will iliffitse a
general satisfaction both through the service and through
the country; not less on account of many anomalous

and unprecedented features in the prosecution, than from
a sympathy which—durin:; its progress—had been uni-
versally excited, by tho frank and manly bearing of
Captain DICK ENSON . While, 'however, we cordially
congratulate that Honourable and Gallant Officer on

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