At the Court of Common Council on Wednesday, there was
a long discussion on the motion of Mr. Hale, Chairman of the City Lands Committee—that the report of the Committee relative to the altera- tions in the Old Bailey Court should be approved ; and the payment of 30001. and upwards, already laid out, should be forthwith made to the several parties to whom it was due. Many members of the Court objected strongly to the laying out of the money without the authority 4)1.. the Court. It was urged in reply, that the Court of Aldermen had sanctioned the expenditure ; and it was admitted that the Aldermen had the undoubted exclusive control over the City cash ; though the approbation of the Court of Common Council was almost invariably obtained before any considerable disbursement was made. It was also objected, that the alterations in the Court had rendered it extremely inconvenient and that the Judges, especially Mr. Justice Williams, complained that they could not bear the evidence. But the un. authorized expenditure of the money was the main point of dispute. Mr. 'f iekner moved an amendment to Mr. Halo's motion—that the Committee on City Lands had " exceeded their powers, and thereby set an example which it was hoped would never be followed, and which merited the unqualified disapprobation of the Court." A divi- sion took place; and, by a mistake, the members of the Committee who were present votedfor the amendment in a body, instead of against it, and it was carried by 81 to 40.
The Court reassembled on Thursday, and Mr. Charles Pearson moved that, after the 9th of November next, the 26th Standing Order should be repealed. The object of this motion was to abolish the rule by which members of the Court are rendered ineligible to offices in the appointment of the Court. Mr. Stevens moved an amendment, that " the 26th Standing Order was calculated to preserve the integrity of the Court ; and that the rescinding or suspending of it would have the effect of diminishing the confidence of the constituents in their representatives." This amendment was carried, without a division ; and the Court adjourned.
An active canvass for the situation of City Solicitor is now going on. Mr. Deputy Wood, Mr. Finch Newman, and Mr. Payne, the Coroner for the City, are the candidates.
A fiat of bankruptcy against Mr. Raikes, late Governor of the Bank of England, was opened on Tuesday. The petitioning credi- tors were Messrs. Williams, Deacon, and Co. The choice of assignees is to he made on the 20th Instant; and the last examination of the bankrupt is fixed for 18th of November.
At a meeting of the Proprietors of the Bank of England, held yes- terday, after a conversation respecting the mode of electing the Go vernor, which led to the result, Mr. James Paulson was elected Governor, in the room of Mr. Raikes.
Some apprehension is entertained in the monied world, of the pro- ceedings of the Joint Stock Banks, who are charged with lending money to their own proprietors, on indifferent security, arid to a large amount. The Times says- " Facts have been openly mentioned on the Exchange in confirmation of this, and on the testimony of an individual who, being invited to become a proprie- tor, was allowed at his own request to inspect the hooks of the company. He there ascertained, that some proprietors, holding, for example, 200 shares, and who had paid a deposit of 51. each, making 1,000/. in all, were favoured by loans of from 20,000/. to 30,000/. ; and, indeed, judging from what was revealed, that not only the capital of the company, but much of that of their customers also, was out on security of rather a questionable nature, and certainly not employed on any true principle of banking management."
The first sales of " Free Trade Tea" took place on Tuesday, at Garraway's. They of course excited great interest amongst the trade; and the room was crowded to excess. The teas came by the Columbia, from Singapore; and their quality was different from those which the Company have been in the habit of importing direct for Canton : they had a strong burnt and rather rank flavour, in general,—although their appearance, from the leaf being very black, was attractive. The novelty of the sale, caused considerable eagerness amongst the buyers ; and the whole went off very dear,—except twenty six chests of bobea, which were denounced by the trade as not being genuine tea; and the selling broker, in accordance with the feeling of the room, withdrew them. The prices were—Congou, Is. Kid. to 2s. 6-id. per lb. ; Padrm, of good quality and tine flavour, 2v. 8d. to 3s. ffid. ; being fully 6d. per lb. dearer than the Company's teas of similar quality.
Mr. John Forbes, one of the East India Directors, has protested against the illiberal treatment of the maritime servadts of the Company by the majority of the Board. He contrasts he amount of remunera- tion awarded by the Directors to their civil and military servants, with that offered to the maritime officers; and argues strongly in favour of acceding to the scale of compensation proposed in the last memorial of the complainants.
It has been discovered that the common congou, or black teas, are changed to green by a chemical process, and sold as green tea. The Excise-officers have made several seizures.—Herald.
Previous page
