they were no longer obliged to make use of those docks, they might send their vessels wherever they pleased. It so happened, however, that the large China ships could go no where else, as the gates of the other docks were not sufficiently capacious to admit them; so far, therefore, there must be a connexion between the East-India Company and the EastIndia Dock Company. As to that part of the hon. proprietor's question respecting the directors of the East-India Company, who were also directors of the Dock Company, he had briefly to answer that there were at present three directors of the East-India Company in that situation, one director having died while he filled the office of director of the EastIndia Dock Company. He (the Chairman) was one of the directors at present. He had been originally named in 1807, when the bill passed. Colonel Toone and Mr. Marjoribanks were also directors; the late Mr. Parry died while he held a similar situation. The obligation now no longer existed for a certain number of directors of the East-India Company to be also directors of the East-India Dock Company; that formed no portion of the new measure; the East-India Dock Company might now elect whom they pleased; they might elect a director of the EastIndia Company, or any other person who was eligible.

Mr. Rigby was obliged to the hon. Chairman for the full information which he had given on this subject. His reason for requesting the names of those directors who were also directors of the EastIndia Dock Company, was for the purpose of judging whether they were, in his estimation, sufficiently men of business, as to warrant him in pinning his faith to the accuracy of the views they had taken on the subject. On that point he was now perfectly satisfied. He was sure that the individuals mentioned were honourable and intelligent gentlemen; he therefore was satisfied with the information he had received, believing as he did that those directors had, after due deliberation, made up their minds on this subject.

Mr. Weeding was obliged to the hon. proprietor for the course which he had pursued, because it had elicited explanation. The by-law declared that all bills passing through parliament affecting the interests or privileges of the East-India Company, should be submitted to the consideration of a general court. It was satisfactory, therefore, not merely that the bill should be laid before them, but that all requisite explanation should be given respecting it: he was obliged therefore to the hon. proprietor for adverting to the subject. He had no doubt the court of directors would closely examine the provisions of this bill; it was desirable that Asiatic Journ. Vol.26. No.151.

He

they should be generally known. took it for granted that they did not affect injuriously the interests or privileges of the East-India Company, or it would have been noticed. He had heard it stated that there was a necessity for preferring the East-India Docks, as no other dock possessed an entrance large enough to admit the Company's large ships. To necessity they must of course submit; at the same time he was desirous of expressing his opinion, that the liberty now enjoyed by the Company of sending their ships to any docks they pleased would be attended with most beneficial effects, and he hoped therefore it would be preserved.

Mr. Campbell." Must not those gentlemen who become directors of the EastIndia Dock Company hold a certain quantity of that Company's stock?"

The Chairman." I believe they must be stockholders."

Mr. Campbell said, if that were so, then he protested against any director of the East India Company becoming a director of the East-India Dock Company. At the time when the last bill was passed, which rendered it necessary that a portion of the directors of the Dock Company should also be directors of the East-India Company, the Legislature was so exceedingly jealous of the possible chance of gentlemen so appointed being biassed by interests opposed to those of the EastIndia Company, that they were exempted from the obligation of holding a certain quantity of stock, which was prescribed as the qualification for other directors of the Dock Company. He did think it was not right that gentlemen in the direction of the East-India Company, and having qualification in that Company, should be allowed to act as directors in another Company, because, being thus situated, they might by possibility have a separate and divided interest. He was very sorry

to hear that directors of the East-India Company were not expressly precluded by this bill from becoming directors of the East-India Dock Company.

Capt. Maxfield concurred entirely in the observations made by the hon. exdirector. He thought, however, that by this bill the interests of the Company were likely to be benefited. If they were not compelled to send their ships to these docks, there would be less to occupy the attention of the directors on that subject than was formerly the case, and therefore there would exist no necessity for directors of the East-India Company to become directors of the East-India Dock Company, for the purpose of superin tending those docks. All they had now to do was to make the best bargain they could as owners.

The Chairman said, he could not see why, in consequence of the situation. he P

held

held with reference to the East-India Company, he should be disqualified from becoming a director of the East-India Dock Company, more than any other gentleman. He conceived that in both capacities he could do his duty without 'committing any act which could cause his motives or his character to be questioned. In cases of this nature the character of a man was the best answer that could be given, when the possibility of being improperly swayed by a separate interest was spoken of. If he were elected by the proprietors of East-India Dock stock, it would not prevent him from performing his duty to this Company.

Capt. Maxfield. -"Supposing a director held £2,000 East-India stock and £2,000 East-India Dock stock, the interest would be equally the same, though the duties were different: but if, in consequence of the new bill, by which the Company might send their vessels, except the China ships, wherever they pleased, the Dock Company were not able to pay their dividends, and felt it necessary to raise their rates in order to meet the demand, would it not be the `duty of an individual, acting at once as a director of the Dock Company and of the East-India Company, to support that proposition? Therefore, if he raised the rates as a director of the Dock Company, it was clear that he would augment those charges which, as a director of the EastIndia Company, it was his duty to contract; and thus it was evident that two duties would be placed in opposition to each other.

CAPT. PRESCOTT.

The Hon. H. Lindsay felt it necessary, before the court adjourned, to revert to that painful subject to which he had before called the attention of the court. He had hoped that some other proprietor would have made the motion which he meant to submit to the court: but as no individual seemed inclined to do so, he felt himself called on to move, "That the short-hand writer's report of the trial, as well as the papers connected with the secret investigation of the subject, be printed for the use of the proprietors.' It was, he thought, useless merely to lay the papers on the table. It was necessary that the proprietors should have them in their closets, that they should consider them well; and thus have their judgments properly directed.

Capt. Prescott seconded the motion. He wished the papers to be thoroughly examined.

It was then ordered that the trial, together with the case of Mr. Edward Drake Back, and of Cadet Bale, should be printed.

The court then adjourned.

East-India House, June 18.

A Quarterly General Court of Proprietors of East-India Stock was this day held at the Company's house in Leadenhall-street, for the despatch of a variety of business.

PARLIAMENTARY PAPERS.

The Chairman (W. Astell, Esq., M. P.) informed the court that certain papers which had been presented to parliament since the last general court, were now laid before the proprietors.

4

The titles of the papers were then read. They consisted of papers respecting the Calcutta stamp regulations; resolutions of the Court of Directors, being warrants or instruments granting any salary, pension, or gratuity, since the last general court; and copies of all orders made by the Judges of the Supreme Court at Madras in the year 1827.

HALF-YEAR'S DIVIDEND.

The Chairman.—" Gentlemen, it is appointed at this court to consider of a dividend on the capital stock of the Company for the half-year, commencing on the 5th of January last, and ending on the 5th of July next. The Court of Directors have come to a resolution on the subject, which shall now be read.

The resolution of the Court of Directors of the 17th of June, recommending that a dividend of five and a-quarter per cent. should be declared for the half-year, was then read.

On the motion of the Chairman, seconded by the Deputy Chairman (John Loch, Esq.), the court agreed to the recommendation of the Court of Proprietors, that a half-yearly dividend of five and a-quarter per cent. should be declared on the Company's capital stock.

GRANT TO MAJOR GEORGE

CUNNINGHAME.

The Chairman.-"I have now to acquaint the court that it is made special, for the purpose of confirming, unanimously, as I trust, the resolution of the general court of the 28th ultimo, approving a resolution of the Court of Directors of the 2d of April last, granting to Major George Cunninghame, of the Bengal retired list, an allowance of £200 per annum, in addition to his present pay and allowance of £130 per annum. As this proposition was agreed to with the perfect concurrence of the last general court, I shall now merely put the question, That this court confirm the resolution of the general court of the 28th ult., granting an additional allowance of £200 per annum to Major George Cumninghame.'

The Deputy Chairman seconded the motion.

General

General Thornton said, he wished to impress on the minds of the Court of Directors the principle to which he had adverted when this grant was last before the court. He did not mean to make any opposition to the motion; but he hoped that in future, when a resolution of this nature was brought forward, than an addition would be made to it, by an insertion of the same words that were introduced by way of amendment to the resolution for granting a pension to Capt. Buchanan. He was anxious that no grants of this kind should be proposed in future, unless an addition was made, declaring that in case employment was found for the individual on whom the grant was bestowed, the pension should cease from that time, and should not be renewed without a fresh application being made to the Court of Proprietors. He took the liberty of saying, at the last general court, that if this course had been taken with respect to Sir J. Malcolm, his pension would have ceased some time ago. It was stated, when the proposition for a pension to Sir J. Malcolm (to which he certainly had agreed) was brought before the court, that it was proper to allow him £1,000 a-year, because he had not got an appointment in the Company's government which he had expected, and the duties of which he was well qualified to perform. He said then, and he repeated the statement now, that he had every respect for Sir J. Malcolm; and if a departure were allowed from the rule which he wished to lay down, certainly, in the instance of Sir J. Malcolm, it might be permitted. In the present case, the adding of the words which he wished to have generally inserted in resolutions of this description could do no harm, because he understood that Major Cunninghame was not likely to be employed again. He hoped the Court of Directors would seriously consider the subject; and that, for the future, no resolution for granting a pension should be brought before the court that did not contain the same proviso that was added in the case of Capt. Buchanan.

The motion was then agreed to una nimously.

REPORT OF THE COMMITTEE OF
BY-LAWS.

The Chairman." I have now to acquaint you, that this court is made further special for the purpose of receiving a report from the committee of by-laws. see the hon. Chairman of that committee in his place, and I shall be glad to receive

his report."

I

The Hon. D. Kinnaird said, he held in his hand the report of the committee of by-laws, and he should take that opportunity to state what the duties of the

members of that committee were, because possibly more might be expected from them than would be found in so concise a report. The report of the by-laws committee generally contained no more than a recital that the committee had examined the officers of the different departments, and that they found that the by-laws had been strictly attended to during the preceding year. He knew that it had been remarked, on account of the shortness of their reports, that the committee generally neglected their duty. He would only say, that the committee would be happy at all times to hear suggestions for the improvement of the bylaws from any proprietor of East-India stock; and to those suggestions they would give their most serious attention. He merely stated this, because it might be said that they were not quite ready to pay due attention to any hint or suggestion that might be thrown out for rendering the by-laws more effectual. Of course every member of that court had a right, either by private communication, or publicly in his place, to suggest such alterations in the by-laws as he might deem beneficial.

Mr. S. Dixon. for volunteers ?"

"Are you beating up

The Hon.D.Kinniard continued:- He had heard that some remarks of the nature of those to which he had alluded had fallen from a gentleman in the court. The committee of by-laws were, it appeared, reproached with a want of attention to their duty, and therefore he thought it right to declare what their conduct really was. After having stated that they would pay the utmost attention to any suggestion for the improvement of that code of laws which it was their duty to watch over, he did not think it was necessary for him to say more.

The report was then read, as follows:

"The committee appointed to inspect the EastIndia Company's By-Laws, and to make inquiry into the observance of them, and to consider what alterations and additions may be proper to be made, have proceeded to the discharge of their duty, and have agreed to the following Report.

Your committee have called before them the several officers of the home establishment, whose situations enable them to give evidence with respect to the observance and execution of the bylaws, and your committee have been assured by those officers that the by-laws connected with their respective departments have, with one exception, been duly observed and executed during the past year.

"The exception above alluded to relates to the by-law, cap. i. sec. 5, which ordains: That the Court of Directors shall annually cause a general state per computation of the Company's affairs to be drawn out to the 30th April in each year, and laid before them for their observation; and that the same shall also be laid before the quarterly general court in the month of December following at the latest. With respect to this by-law, the Accountant-general has informed your committee that the necessary accounts did not arrive from Bengal in time to allow of a compliance with it in December 1827, and that the prescribed statement of the Company's affairs was therefore not laid before the general court until March last.

It

It will be in the recollection of the general court, that your committee have formerly had occasion to notice a want of attention on the part of the Company's servants in India in this respect. In the present case, the Court of Directors have not failed to issue fresh instructions to the Bengal government; and a copy of those instructions, bearing date the 7th February last, having been. communicated to your committee, they find that the Court of Directors have ordered an immediate inquiry to be instituted into the causes of the delay, and the result to be reported at the earliest practicable period.

"The attention of your committee has been drawn by the Chairman of the Court of Directors to the by-law, cap. iv. sec. 3, with a suggestion that it should be so modified as to afford to that court the option of paying accepted bills of exchange, and also the dividends on the Company s capital stock at the Bank of England, should they at any time be disposed to make an arrangement for either or both of those purposes: and your committee being fully sensible of the increased safety and convenience which may result from such an option, which they consider should be even less limited, being left to the Court of Directors, recommend that the by-law in question be altered as follows, viz.

By-Law, cap. iv., sec. 3, as it at present stands.

"Item, It is ordained, that for every sum drawn out of the Bank of England, a write-off or draft shall be signed by the Chairman or Deputy Chairman for the time being, and one other director of the Committee of Treasury, and countersigned by the principal cashier or his deputy, or by such other officer or officers as the Court of Directors shall appoint for that purpose, and that no other person but the principal cashier or his deputy shall present the said write off or draft for payment."

By-Law as now proposed to be altered. "Item, It is ordained, that for every sum drawn out of the Bank of England, a write-off or draft shall be signed by the Chairman or Deputy Chairman for the time being, and one other dírector of the Committee of Treasury, and countersigned by the principal cashier or his deputy, or by such other officer or officers as the Court of Directors shall appoint for that purpose. and that no other person but the principal cashier or his deputy shall present the said write-off or draft for payment; excepting nevertheless, that all bills of exchange accepted by order of the Court of Di rectors, and the dividends on the Company's capital stock, and also orders for monies made payable to others than the cashier or his deputy, may, if the Court of Directors should think fit so to direct, be paid at the Bank of England, in such manner as may be arranged between the Court of Directors and the Bank."

East-India House, May 29, 1828.

The Chairman said, he was sure the court would hear with pleasure the proposed alteration of the by-law. That the committee discharged their duties with propriety, was, he conceived, proved by the report which they now laid before the general court. He should merely move, "That the by-law, cap. iv., sec. 3, as amended, be approved off, subject to the confirmation of another general court." The Deputy Chairman seconded the motion.

General Thornton said, he did not doubt but that the alteration in the bylaw was a very proper one; but in his opinion, when alterations were about to be made, the proprietors ought to be specifically informed of the nature of the intended alterations. The advertisement apprized them that a certain by-law was to be amended, but they were not told what alteration was proposed to be made in it. The proprietors, when they came

to the court, could not therefore judge accurately whether the alteration was or was not a good one. He certainly confided in the gentlemen who composed the committee of by-laws, and he was inclined on that account to believe that this motion was a proper one; but still he thought that the next time the better way would be to advertise the nature of the alteration, so that the proprietors might have an opportunity to judge accurately of it.

:

Mr. Gahagan.-As the hon. chairman of the committee of by-laws had perhaps referred to him, he wished to make a few observations on this occasion. He certainly had said that some two or three of the by-laws might be altered with advantage. He did not deny the correctness of what the hon. gentleman had said with respect to the duty of the committee of by-laws they were to take into consideration the modification and improvement of those laws, as well as to inquire whether they had been strictly complied with. He agreed also with the hon. gentleman, that any particular proprietor was competent, if he saw a necessity for it, to propose the alteration of a by-law; and he remembered, on a former occasion, calling the attention of the court to the qualification and eligibility of persons in certain professions to hold the situation of director. As the law now stood, persons connected with the maritime service, if they had not quitted that service two years before their election, were liable to be removed; but that rule did not extend to persons in the military service, and he suggested whether the law ought not to be made to apply equally to both branches. He should suggest now, or rather he would do so by-and-by, that another alteration should be made, and he wished the Court of Directors particularly to consider it. He observed, under the head of "accounts," it was ordained, "that such accounts and papers as may from time to time be laid before either house of parliament by the Court of Directors, shall be laid before. the next general court; and that all proceedings of parliament which, in the opinion of the Court of Directors, may affect the rights, interests, or privileges of the East-India Company, shall be submitted by them to the consideration of a general court, to be specially summoned for that purpose, before the same shall be passed into a law." Now his suggestion was this that all proceedings in parliament which were connected with the Company's territories should be laid before the proprietors-whether they referred directly or indirectly to the inhabitants of the Indian empire. There were at the present moment, for instance, three or four bills before parliament connected

with the internal government of their East-India possessions, of which he conceived the proprietors ought to take cognizance, although they might not seem to "affect the rights, interests, or privileges of the East-India Company." Now he thought it would be proper to alter the existing by-law, and to ordain "that all proceedings touching the community in India, which were taken by either house of parliament, should be laid before the proprietors," that if they saw room for any amendment they might suggest it. He threw this out as a suggestion which it would be wise to adopt. The EastIndia Dock Act had been laid before the proprietors: but there was the East-India Insolvent Debtors' Act, and the EastIndia Real Property Act, neither of which had been submitted to the consideration

of the proprietors. It might be said that these measures did not " affect the rights, interests, or privileges of the East-India Company; but if they looked to the interest of individuals immediately under the Company's charge, it was evident that those interests were intimately connected with the bills he had mentioned, and therefore it was proper that the proprietors should take cognizance of them. He did not want a special court to be summoned to consider such measures, but he wished them to be open to the proprietors for their examination, leaving it to their own good sense and discretion whether they would or would not investigate them. It was therefore a proper matter of consideration, whether the by-law should not be altered. He was at the same time ready to pay the compliment, or rather the tribute of praise, to the committee of by-laws, for their exertions. He believed they attended diligently to their duties; but he had felt it to be his duty, in accordance with what had fallen from the hon. Chairman of that committee, to suggest this amendment as a member of the court of proprietors.

Mr. S. Dixon said, he was disposed to think that every thing was going on well and right, when the committee of by laws called before them, as they had done, the officers of the different departments, and found, on examining them, that the by-laws were strictly complied with; therefore, if he were a member of the committee, and conscious of having done his duty, he would not mind what was said by any individual. While the hon. chairman and the committee took care to see that the laws were properly obeyed, both he and they might be quite easy with respect to any imputation that might chance to reach their ears, with reference to the discharge of their duties. Now he hoped the court would excuse him if he made an observation with res

pect to the suggestion which originated with the gallant general near him, as to an improvement of one of the by-laws. On the present occasion they had been informed that the court was specially summoned to consider of an alteration in a certain by-law, but what that proposed alteration was had not been signified to the proprietors until they met this day; They had not previously heard a word about it, and it was impossible for them under these circumstances to be at all prepared before-hand to consider the specific question. The court would therefore feel that he was not cavilling when he said, that in future a question which lay in a nut-shell, as the present did, might as well be brought publicly forward, and the words of the proposed alteration inserted in the advertisement. An hon. gentleman near him observed very truly, that this resolution was brought forward, not only for approbation, but for consideration. It was not, he trusted, to be received as an edict, but that it was laid before the proprietors as much for consideration as for approbation. Still however he thought that the nature of the alteration should be published, because persons thinking the subject worthy of observation might, if they deferred their remarks to a future day, be met with the statement that the resolution had been before the court already, and that it was then carried unanimously without the least objection. In such a case, what man was there (not many, he was sure) who would have the courage to stand up and question the propriety of the vote; therefore in future, when the question lay in so narrow a compass as it did at present, he hoped such a communication would be made as would enable the proprietors to know what the specific nature of the proposed alteration was.

The Chairman said he felt it necessary to endeavour to put this matter in a clear point of view, which appeared at the present moment not to be sufficiently understood. In this case the usual course had been pursued, and it had been found from long experience to answer all the purposes for which it was intended. This court was summoned, not for an undefined purpose, not for an unknown object, but specially to consider of an alteration proposed to be made in the by-law, cap. iv. sec. 3. It was easy for any proprietor to look at the by-law which it was proposed to alter, and when the motion was put, to approve of, or object to it as he thought proper. But this was not all; the proprietors were called on to consider the subject also hereafter. It was their privilege to approve, in the first instance, and to confirm at a future day. Gentlemen were not required to decide absolutely on this occasion. The by-law to