Mr. Williatn Cotton was elected, on Wednesday, a Director of
the Bank of England, in the place of the late Mr. Mellish.
A meeting of the South Australian Company was held on Friday last, at their rooms in Bishopsgate Street ; Mr. G. F. Angus in the chair. A report of the Company's proceedings, read to the meeting, exhibited a prosperous state of affairs and excellent prospects. The Company has land, flocks, fisheries, and a bank-
" The land has greatly increased in value ; the preliminary sections, of which the company had 102, (nearly 14,000 acres,) purchased at 12s. per acre, were bringing from 30s. to 40s. per acre. Their 108 town-acres (102 of which cost 12s., and 66 about al. 5s. each) were worth from :30!. to 100/. each. The Directors were letting their rural land, with right of purchase by the tenant, at advanced rates, anti had already granted leases to nineteen indivi- duals; they were maturing a plan for letting their town-land on building- leases. Some unavoidable losses had been sustained in the importations of stock necessary for commencing the company's flocks and herds; notwith- standing which, they had about :3,500 sheep and 150 horned cattle thriving on the pastures of South Australia. Their bay whale-fishery had been corn- meneed, and during the first season produced about 200 tuns of black nil and ten tuna of whalebone. Casualties had occurred to three of the Company's vessels; but, being insured, very trivial loss would lie sustained. The Corn. pany's bank was in active operation, rising daily in the confidence of the settlers, and doing a fair remunerating business."
Mr. Angas addressed the meetingat length in explanation of matters, present and prospective. Altogether, the statements were highly saris. factory to the proprietors.
The distribution of prizes at the London University College was made on Saturday. Dr. Hoppus, Dean of the Faculty, read u report, which stated, that
"There had been an increase of about one-fourth in the number of students in the Faculty of Arts over the number of the preceding year ; the numbers being --exclusive of the students entered to the courses of Botany and Chemisti y— classes which are chiefly attended by medical students-141 ; while the increase of the fees, which was from 1,800/. in 1837 to 2,400/. in 1838, afforded a proof that the improvement was general, and had not been confined to particular classes."
Lord Brougham, who presided, mentioned that the gift of 2,500/, increased by interest to 3,0001., by a gentleman, who called himself " Patriot," but would not allow his name to be made public, would be applied in the following manner— He intended that the interest of the Patriot-fund, calculated at about 1101. per annum, should be devoted to the procuring for certain schoolmasters, who should be disposed to avail themselves of the advantage, the privilege of attend- ance, at a small fee to be paid by each, (the Council consenting to remit the portion of the fee usually taken for the general purposes of the institution,) on the courses of instruction given in the College. He considered that this plan was free from the difficulties which attended many others that had occurred to his mind, and would have the certain effect of improving the education of youth over this great metropolis.
Mr. De Morgan said, that in the next session there would be a course of instruction especially devoted to persons engaged in profes- sions connected with Civil Engineering and Mining. From a statement sent to its of the progress of the Marylebone Savings Bank, it appears that the number of open deposit accounts has gradually increased from 1.013 in 1831, to 10,703 in 1838; and that the amount invested with the National Debt Commissioners, which in 1831 was only 10,2401., is now 179,429/.
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