Ebr girtrapolig.
A dispute between the East India Company and the Metropolitan teadealers has produced a good deal of excitement in the City during the week. The tea-dealers maintain that the quantity offered for sale by the Company—namely, nine millions of pounds, being half a million of pounds more than was offered at the last December sale—is more than they were then given to understand would be brought forward; and that their purchases were made upon that understanding. They therefore made a demand upon the Company to take back at the selling prices all the tea not cleared out of the warehouses, purchased at the last sale, and amounting to upwards of two millions of poulids. The Company refused to do this ; arid consequently the opposition to the sale was so great on Monday last, that no tea could be sold, and the meeting was adjourned to Tuesday. A committee of tea-dealers was appointed to prepare a memorial to the Board of Directors ; in which the deniand that all the teas uncleared up to the present sale should be taken back by the Company, was formally trade. This memorial was sent to the Board ; and on Tuesday morning another attempt was 'nude to proceed. -.144h the sele
but the dealers demanded an answer to their memorial in the first place, and the sale was again adjourned to one o'clock. At that hour, the pre
siding Director, Mr. Wigram, again took the chair ; and the reply of the Directors to the memorial was read. It expressed their determination 0 proceed, if possible, with the sale ; they refused to take back the uncleared teas, or to lessen the qusntity of teas now offered for sale. The Directors said that the quantity of uncleared tea was not large, and that the demand was sufficient to justify the increased quantity offered to the trade. They also reminded the tea-dealers, that, taking into account the amount rejected in December last, which was 600,000 pounds, the quantity now offered scarcely exceeded the average of last year, which was 8,300,000 pounds : they were therefore not glutting the market. This reply to their memorial was so exceedingly unsatisfactory to the tea-dealers that they again refused to buy ; and the sale was once more adjourned to Wednesday. On that day, the saleroom was crowded by eleven o'clock,—the hour appointed for receiving the report of the Committee of the trade, as to the steps wWch should be adopted. It was decided that no further opposition should be given to the progress of the sale. The sale accordingly commenced soon after twelve ; but instead of the usual brisk work, the lots were put up very tardily, and almost all purchased by Messrs. Varnham and Co. The upset price of bohea was Is. 4d. ; the bidding was 18. 41d., at which nearly the whole was sold, instead of reaching Is. 911. to Is. 10d. as at the last sale. Whenever, as once or twice happened, more than Is. 41d. was offered, the bidder was hissed. The teas bought by Vannbarn and Co. are bought by an arrangement for the trade. The sale was adjourned till the next day.
On Thursday, soon after ten, Mr. Alexander, 0113 of the Directors, took his seat as Chairman in the sale-room. Mr. Varnham said that the trade would not purchase till they had justice done them : the buyers were ready to return the teas bought yesterday, if their demands were conceded. Mr. Alexander said he had no power to give an answer ; but would adjourn the sale till one, mid consult the Board. The sale was accordingly adjourned till one, and subsequently till two. Mr. Mills, a Director, then took the chair; and informed the dealers that the Board had decided not to alter their resolution relative to taking bark the uncleared teas, but had determined to withdraw 580,090 pounds of teas refused at the last sale. After some discussion, in which the dealers expressed their strong dissatisfaction with the resolution of the Board, the sale was again adjourned till the next day. Yesterday, accordingly, the sale was recommenced. The first lot was knocked down to Mr. Varnham at Is. 4rtvl. ; a few lots were sold at Is. 5;d., and some at is. 7;1111. a pound. Boheas were the only kind sold, and Is. Vid. the usual price. The day's selling closed at one, after a considerable quantity bad been disposed of. It is expected that the sale will continue for some days.
The Corporation inquiry in the City closed on Saturday. No day is named for commencing the idquiry into the state of the different Companies ; the only announced recusant of a hich is the Merchaat Tailors.
The election of a Secretary to Lloyd's, in the room of the late Mr. . Bennett, takes place on Friday next. III addition to Mr. Dobson, the chief 'kik, Messrs. Bischoff; Christie, Green, Higiunore,
Penny, Slam), and St. 13arbe, are candidates. At a very mit:wrens meeting of the subscribers held yesterday, a report of the Committee, advising a reduction of the Secretaly's emoluments, front 1;750/. to 7301., was unanimously adopted.
A meeting was held on Thursday, at the Crown and Anchor, for the benefit of poor boys intended for the King's and merchant service. Earl Eustis!' took tile chair; and the Society was completely formed, although not more than twenty-four people were present.
The supporters of the Infant Orphan Asylum dined together on Wednesday ; Mr. Byng, M. P. in the chair. In the course of the evening, upwards of 1300/. was subscribed towards building a school.
The children, as usual, weie brought into the dining-room, to pass under review by the company.
The executors of the late Mr. W. Ellis Gosling, of Portland Place, have, pursuant to his will, paid his bequest of 1,000/. duty free, towards completing the river front and other buildings of King's College.
The eighteenth half-yearly general meeting of the City of London Literary and Scientific Institution took place on Wednesday evening in the theatre attached to their house, No. 165, Aldersgate Street. The -chair was taken at eight o'clock, by Mr. Grote, M. P. The report of the proceedings of the last half-year was read by the Secretary ; from which it appeared, that time number of members was 847, being an increase of :208 upon the number reported at the last half-yearly meeting in September. The state of the funds was also equally satisfactory ; for besides discharging every pecuniary claim caused by the ordinary expenditure of the Institution, the Committee of Management had been enabled to complete the liquidation of the debt incurred in building the theatre; the last instalment upon which, amounting to :300/. had been paid in the course of the current half-year ; and notwithstanding these extraordinary exertions the sum of 8801. was still remaining in the banker's hands. A list of the donations of books and recent additions to the library was then read ; and it appeared that the number of volumes at present belonging to the society was upwards of 5700. Some valuable specimens had also been presented to the Museum. After the usual votes of thanks to the doners of books and specimens, and to those gentlemen who had delivered gratuitous lectures, the meeting, by a cordial and unanimous vote expressed their deep sense of obligation to the Trustees, Sir John W. Lubbock, Mr. Samuel Jones Lloyd, Mr. .John Martin, and Mr. Alexander Baring, who had become personally responsible for the debt ,amounting originally to 10001., and whose liability inid been removed by the repayment of that sum. Some propositions for the amendment of the laws and general arrangement of the business of the Institution were then discussed. Thanks were voted to the Chairman, and the meeting adjourned.
A meeting of St. Pancras Vestry took place on Saturday. The t Vestry Clerk said that a deputation had waited on Lord Althorp, respecting the financial difficulties of the parish. His Lordship stated, I that he was willing to lend the parish WOOL on the personal security of the Directors of the Poor. This offer was ticeillted ad." ship had since refused to advance any sum upon the security of the poor-rate, the legality of which was questioned. Mr. Murphy moved a vote of censure upon the Ministers, fir their disrespect to the parish authorities, and want flfieling for the poor. This vote was carried. To supply the wants of the poor until the next rate can be collected, several gentlemen put down their names, offering loans, without interest, to the Vestly; which were accepted.
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