Star.
London, England, 1827-04-10 00:00:00

MINT STOCK COMPANIES.

Mr. Alderman WAtTHM N said, he had a Petition
to present which went deeply to affect the character ut
a Member at that Hove, and consequently the honour
-and character of Parliament. The Petition came from
certain Shateholdtrs of the (ornwafl and Devon Mii.isig
A,%ociatiew. It rived that a Gentleman, nnw a Mem-
b.t of thot 'Hot.te, in tic month of April,lB2s, ei..ered

into a contract with a Mr. Teague, which was to be
conditional upon the formatims of a Company, for pay-
ing him 78,0001. as the purchase of certain mines.
tihbrtly afterthit contract ►►as made, a public metal%
was called at the Albton Tavern,and a Company was
got up, to whom the mines were to be charged 121,0001.
An Hots. Member of that Hanoi (Mr. Barrett) sat in the
chair at the meeting. A few days after that, another
meeting took place, at which Mr. Peter Moore presided,
and a prospectus was then agreed to, which contained
a false and fraudulent representation of the .tale of the
property. At th it meeting it was also determined
that 2.750 ►hates should be reserved for the benefit of
the Directors and Officers of the Company, and lotted
up in a tin box. When the shares were in the mat ket,
the Directors, to give them a fictitious value, purchased
1,000 at a premium, and the sum of 6,0001. was actu-
ally debited to the Company for the expense of that
transaction. The Petition stated further, that Mr.
Wilks, the Member to whom he had alluded, be'ore he
had taken possession of the Frame'', for which he
had agreed to pay 78 0001. charged it to the Company
at 120,0001. and that 20,0001. was paid him by chequts
from the Directors before he entered into possession.
After that the agreements were stated to have been
cancelled at a subsequent meeting, and 34.0001. more
advanced to Mr. Wilks. So that 42,5001. was
charged to the Company by Mr. Wilks, beyond the
real purchase money of the estates. If the state-
ments of the Petition were true, it therefore appear-
ed that a fraud to this enormous amount had been
committed. Of the 2 750 reserved shares, not one had
bren paid upon by the Directors, who, instead of pair-
ing for them, made further coOls upon the other share-
bold, rs, and had actually 'commenced prosecutions
against some of them for not complying. He was
bound to say that amongst the Directors were many
highly•respectable Members of that House, and many
not Members of the House. but not less respectable.
There were Nnble Lords, Hon. Baronets, and Hoo.
Members, who, he was sure, upon investigation. would
be found to deserve no other blame—and great blame
he thought that was—than the folly and imprudence of,
connecting themselves with such schemes. The Petition
prayed that the House would institute an inquiry, and
adopt such measures as would vindicate the honour and
character of the House, and Ore security to the public
against the repetition of such frauds. It was his listen-
lion to move that the Petition be referred to a Com-
mittee. He wished it to be read at length.
The Petition was then read* at the mum of both Mr. Wiaxa
and Alderman %Yamamoto.

Mr. WYNN could not agree with the Hon. Alder-
man, that the House was bound to enquire into the ally
gations of the present Petition—though the House was
a Supreme Court, exercising authority over matters that
did not fall within the jurisdiction of a Court of Justice.
Yoe Petitioners in the first place complained of the con-
duct of an individual, who (however true might be the,
grounds of the complaint) was sot * Member of the,
House when the transaction took place ; and in the nest
place, were now the defendants in a Court of Law, in
matters relating to the ground-work of the Petition—
and therefore would, if the House received and voted on
the Petition, prejudge their case in the inferior Coons

Lord PALMERSTON, as one of the Directors of the
Company, disclaimed all acquaintance with the forma-
tion and early proceedings of the Company—attended
but five of its meetings, paid'his deposits, embarked his
capital from a belief that it was a bona f:de speculation.
and never received sixpence in return. He thought all
who embarked in such proceedings should put up witb
the loss, ifthey turned out unprofitably.
Mr. PAULETT spoke to the same effect. Re-
spectable names had attracted him; he bad paid a
eery considerable sum of money, and he bad not received

one lashing.
Mr. WILKS declared that the allegations of the Pe-
tition were untrue, and were merely put forth to get
rid, by a side wind, of the verdict which a Court of
Justice would have to award against the defendants.
The Petitioners were in number but IS, and out of that
number nine were holders of but one-eightieth of the
capital of the Company. He was therefore bound to
maintain that the majority-di the Shareholders were
opposed to the Petition. The books of the Company
were open to the Petitioners; they knew the sums he
(Mr. Wilks) paid for the mines; and that be demanded
a return, and did not complain till they found, after
two yeats trial; that the undertaking was not a suc-
cessful one. He embarked 30,0001. in qe Company ;
while the united loss of the Petitioners did not exceed
1,0004 and be therefore bad a deeper stake in its
prosperity and decline. The question was not what
he paid or asked for the Mines, whether 40, or 60,
or 80,0001. but what they were worth when the
Company was formed? The Honourable Gentleman
entered into a minute detail in defence of his connec-
tion with Mining Companies. He contended that the
Petition was signed but by one eightieth part of the
Subscribers and Shareholders, whilst, on the other hand,
many persons had signed it, who were neither Sub-
scribers nor Shareholders. He, however, plainly saw
that the real object of the Petition was to influence the
Jury in the trying (statuses now pending, and in which
they were involved as defendants. He ;bought the ob-
jects of the Petition es pane, and being ex pane, the
House ought not to entertain it." On the score of justice,
the petitioners bad every advantage—the parties had
the title-deeds in their possession. With respect to. the
charges of fraud, he. defied any man, even the Hon.
Alderman, to prove that any transaction in which he
was engaged WAS fraudulent. The Hon. Alderman
in lending his name to the Petition, was assisting those
persons who were desirous of poisoning the fountain of
justice. No mine, if properly fbllowed up, would have
proved more productive. It was not his fault that the
Shareholders would not come forward to advance the
necessary funds required to cleanse the mines of the
water which had got into them. He really saw no
utility whatever, which could result from the Petition;
it was merely feeding private slander, and occupying
the valuable time of the House,which might be employed
in d scussing subjects of more advantage to the country.
A Committee of Inquiry would not dissolve the com-
pact, nor restore the money which had been expended.
He would ask what right tire House had to in et fere ?
None ! They were private acts. TLey took place 18
months before he became a candidate for the honour of
a seat in that House. Cases were pending, and to their
decision he should quietly submit.: The Petitioners had
their remedy in a Court. of Law. The House was a
Court of Legislature, and ought to be engaged in dis-
cussing topics of more vital importance; the sole object,
in his opinion, was to defeat the ends of justice. He,
therefore, hoped, that the Hon. Member would not pees;
the prin:ing of the Petition. He thought every end
mild be apswered by its merely laying on the table.—
Ile felt that it was an ri*.temptio ruin and degrade him,

'and he threw himself upon the mercy of those who had
so kindly and so patiently listened to him.
Mr. BANKES thought the Petition ought not to be
printed * It contained a statement of facts (pending a
trial in which the parties impugned were involved)
highly prejudicial and es Tarte.
Mr. ROBINSON thought a sufficient ease had been
made out for inquiry. As he supported an inquiry into
the Arigna Mining Company on a former occasion, and
as the ch trader of other Members besides the Member
for Sudbury were deeply involved in the allegations
contained in the Petition, it was the bounden duty of
the [louse to investigate them.
Mr. D. W. HARVEY said, in reference to the
Petition, he thought that there was not the slightest
ground to impeach either of the other Honourable
Gentlemen, whose names had been mixed up in that
Petitiori. He thought, that while the causes alluded
to ace pending, the House ought not in equity to its.l
terlere. If the results of those cases were unfavourable'
to the Gentleman concerned, he would be among the
very first to expel him. Before he sat down, he would
ask if Mi. Wilks bad been struck off the Rolls? Surely
the Petitioneri ought to have ascertained this fact be-
fore they came forward to attack his professional cha-
ract Mr
r.Aiderman WAITHMAN dweltat some leagth in
support of the prayer of the Petition. With regard to
the defence which had been set up in layout of an Hon.
Member, whether that Member was a Lawyer he could
not say ? but he would tell the Huse, that he would not
trust himself in his company without a third person,-
(Cries of Order). That was his opinion.
SPEAKER called the last Speaker to order.
Whatever might be the Hon. Alderman's private opinion,
he (the Speaker) thought that in common decency he
was bound to reftain from such offensive language.
Mr. Alderman WAITHMAN was sorry that the
warmth of deba(e had led him into expressions which
had b: en deemed by the House offensive: he did not
mebn them to be so. The Hon. Alderman then proceeded
to descant on the allegations contained in the Petition.
and contended that the Shareholders were never told
what the Mines had been bought for. They never
would have bought a single share, if they had known
that a profit of 40,000 i. was secured to the original
purchaser. He proceeded to enter upon the conduct of
the parties connected with the Directorship of the Welsh
Iron .Company.
Mr. WI LKS rose to order. He submitted to the Hesse wheelie
It was fair to introduce matter rehtive to soother Company, whelk
he was not dforded so opportunity to reply to the charge? There
was nothiegaboot the Welsh Iron Company in the Petition.
The SPEAKER suggested to the Honourable Gentleman. that
being a new Member, It would be better to leave the Hesse to de•
termioe the point of order.
Mr. Alderman 41VAITHIMIAN contended that when the cha-
racter and honour of its Members were at state, the House was
bound to grant the inquiry prayed for. Me denied that he bad been
instrumental in bringing the Petition forward: be rather Memo-
rised than elicoorapd similar eons He might, ipoo inclined, have
presented boodrods.
After a few weeds from 11r. Waits, the Petition was Won the
table.—On the "motion that it be primed,
• Mr. WILES fruited the House would not allow the Petition to
be printed, as beau the rusks of the trials were known, Its elects
would be highly prejodicial.
Mr. Alderman WAITHMAN said he had no whit to press the
Welting of the Petition. He awed& bovrear, after the recess,
bring forward a motion connected with the anbiest. The waver.
satlon bore dropped.

• Moo cot oasts
Mr. liairatary CANNING promoted copies el the Reports ben
the &kik Omsk In Fm's, and the Netherland% Is reply •to a
drahlat revirkti lateratatloo as to the prices of cora at the =lir.
sot ports whore they reside.—Ordeted to Ile epos the table, and to
be orbited.
Ica wow 001•1111POO111 811111011.16
The Wet etas Day was doe mad. Mr the attaudasta at L.
was arowleaty pkwil at the bar.
Mr. llPM...lllliat b year same?
Mr JeNhip--Hamy Osalumilis „lessings.
Mr. SPZAKKR—Loak at dosimeters ; then are dime al dam.

/we them intari 'dim by Ion?
Mr. Jewielnge-'hey were.
Mr. SPRAYER—Have you any observed's@ to sear to the
House es the writing of these latent
Mr. Jambes here addressed a few words to the Hoses in a low
tone of saki. He said he had been misled as to what had taken
place is the House; and that his mind had been strongly excited,
pertly in eansespassos of a bad state of health, and that be felt stn.
ewe eentridso for the canoe into which be had in these ahem.
atenees been betraynd.--Mr. Jennings was entered to withdraw.
Mr. Secretary !BBL said that the person who had just appeared
at the Bar was evidently in a bad state of health, and had made a
very expUdt‘ ackeowledgment of his error. Ile would suggest,
therefore, that enough had bean dome.

Mr. fi;cretary CANNING said, that ft Intik appear magratiess
In him to interfere between the indulgent Intermits of his Right
Hon. Farad and the person who had just left the bar; but he
thought that they could net, without some preilsdnary step, dis•
miss the person who had written seek lease as Uses% threatening
to overhang and obstruct their debates. Its should therefore move
that Henry Constantine Jenning was guilty of a breath of the pri-
vileges of this House.—This motion having been agreed to,
Mr. Secretary CANNING moved, that Henry Constantine
Jennings be called in and reprimanded by the Speaker for the said
breach of privilege.
Mr. HUME thought that as the error into which this Individual
had fallen, bad sprung from misapprehension and as It had been'
amply atoned fur by his expression of contrition, no further pro. ,
ceedings was nemsaary. 1:k did not mean to defend the conduct
of the individual, bet he had thought his character bad been assailed,
and in all the circumstances perhaps um& had been dens as was
required by the anal practice of the HMO.
' Mr. Secretary CANNING thought it impossible that such con.'
duct as had been pursued is this instance, however apologised for
or extenuated, could with any regard to their privileges, be visited
with a more lenient punishment than had been proposed.
The motion was then agreed te, and Mr. Jennings placed at the
bar, when
The SPEAKER addressed him in nearly the following
words :—" Mr. Jennings—there is no daty more imperative
upon this HoUse. either with a view to its own honour or to the
public welfare, than that of guarding its privileges from viola-
tion. Nor is there any task more painful to the House than that
of visiting the misconduct of individuals with its sincere anima.'
version. This task is peculiarly painful to myself, also, from the
apprehension that 1 may fall adequately to express the sentiments
of the House. The Houk has heard with smashed's the fall and
unreserved expression of your contrition. But for this, as dime
sect as you have committed, would have called for a heavier /nark
of displeasure. I have been commanded to reprimand you for
your misconduct, and to admonish yea to gaged carefulli against
its repetition." •
On the motion of Mr. Secretary Cases.% Mr. Jennings via then
ordered to be discharged from furthetattendusee, and the address
of the Speaker to be entered upon the Journals.