The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-07-13 00:00:00

THE BONDHOLDERS.

Mr. THOMSON wished to ask the chairman a question
with reference to their committee entering into negocia-
tions with the bondholders contrary to the decision of the
board on the last day of meeting ?
Mr. BENTHAM.—They waited on them on entirely
different business from what that resolution refers to.

The CHAIRMAN.--in a resolution which was proposed
it was stated that no pledge be given to the crown without
the consent of Baron Goldsmid, Mr. Bailey, and Mr.
Upton.

Mr. LAlRD.—Without consulting them. There is a
great difference in the two words.

The CHAIRMAN then proceeded to explain that it was
relative to some financial transactions, totally without re-
ference to the new bills, that they were in communication
with the bondholders.

After a few words from Mr. Thomson, the matter
dropped.

THE COMMISSIONERS AND THE NORTH AND SOUTH
WALES BANK.
Mr. Wm. LAIRD said that before the minutes of the
Dock Committee were confirmed, it was his wish to make
a few remarks on some of the points raised in them. Be-
fore doing so, he might premise that he thought the pro-
per course, before going into the discussion of the personal
matter between the chairman and himself, would be to
dispose of all the other business of the day. He congra-
tulated the committee on the fact of their having consult-
ed with the bondholders during the past week. He thought
in doing so they had adopted a very proper course, and—
although he would not ask their reasons for doing so—
taken a step in the right direction. He was certainly sur-
prised when he heard of it, for at their last meeting he
thought there was no disposition on their parts to do so.
In proposing the resolution which he then did, his object
was that the deputation should consult the bondholders
before giving any pledge to the crown ; but he did not de-
sire them to ask their consent. They had heard, from the
minutes, that £58,000 worth of bonds had been lodged in
the North and South Wales Bank as security for the
small advance of £3,000. He should like to know if any
other party had been applied to for an advance on those
bonds other than the North and South Wales Bank ?—and
he should also like to know if the £55,000 township im-
provement bonds, endorsed by the dock commissioners,
and £3,000 of dock commissioners' bonds, was worth no
more in the market than £3,000. There was another of
the minutes to which he objected, that was to the com-
mittee appointed for working the affair with the bank. To
Mr. Potter he had no objection, but to Mr. Mallaby, who
was solicitor to the bank, he had every objection. He
Mr. L.) did not think it judicious that he should be on
that committee, for he did not think that he could con-
sistently act well for both parties. Without any ill-will to
that gentleman he would put it to the consideration of the
committee if it would not be better that some other gen-
tleman from the board was appointed in his stead ; and,
indeed, he hoped the chairman himself would view it in
the same light which he did and resign. (A pause, during
which there was no reply from the chairman.) He would
not then go into the question of title, but proceed at once
to frame a motion, to the effect that those two points
which he now noticed in the minutes be referred back to
the committee. After some conversation Mr. Laird then
put his motion pro forma, which, on being put, was lost.

THE PROCEEDINGS OF THE LONDON DEPUTATION.
Mr. BRYANS detailed the nature of the deputation's
proceedings in London, and stated that the objects for
which they had gone up had altogether failed. This he
attributed in a great measure to the resolution of the board
on the previous day of meeting. That resolution, in his
opinion, had done them a great deal of damage with cer-
tain parties in London ; but as Mr. Lloyd was with them,
he suggested that he should be called in to explain the
nature of the offer which they had been made by the
Woods and Forests.

Mr. LLOYD was here called into the room, and pro-
ceeded to give in detail a statement of his proceedings in
London, in connection with the two bills before parlia-
ment, and read a lengthened correspondence which took
place between himself, Mr. Pemberton, and Lord Mor-
peth, relative to the conditions on which the crown was
willing to pass the bills. He wished to impress upon the
I,..rap that, in his opinion, that the Question of title did
not at all interfere with cne passing of tne tact, it
never arose at any of the interviews when he was present;
and he concluded by recommending the commissioners to
pass two resolutions, to the effect that the committee be
empowered to take any steps necessary, in order to secure
the passing of the two bills. He still had strong hopes,
for at the conclusion of the interview, Lord Morpeth said
to him, " We don't want to close; but we should like to
see what the commissioners mean to propose." And at an-
other period he (Lord Morpeth) told him that he did not
wish to give the ground for a graving dock till he saw
whether they could carry it out. From these and other
circumstances he inferred that there was still a strong
chance of getting the bills passed.

Mr. BicyANs- thought that no means should be spared
in order to carry out the works and get the bills passed ;
they should go to the Treasury, if necessary.
The CHAIRMAN then read a letter from Mr. Potter, in
which he expressed his condemnation of the course pur-
sued by the board, in passing the resolution proposed by
the chairman, at the last meeting ; his surprise at the fact
of Mr. Mallaby leaving London for Birkenhead at a time
when he expected to meet him at the committee-room of
the House of Lords on the Monday ; and at his leaving
town without his cognizance of it. The Chairman then
asked Mr. Lloyd a series of questions relative to the course
of conduct which he pursued regarding the passing of the
bills through the committee of the house. From the an-
swers of Mr. Lloyd, it appeared that Mr. Mallaby had
used every endeavour to have the bills passed as they came
from the Commons, with the exception of the clauses re-
lating to the £23,000; and that his uniform instructions
to Mr. Lloyd had been such.
The motions recommended by Mr. Lloyd were then
passed unanimously.