CAPEL COURT.

Son and Co. Limited.

Arthur Guinness, THE ordinary general meeting of Arthur Guinness, Son and Co. Limited, took place on Tuesday, at the Cannon Street Hotel, when the chairman, Sir E. C. Guinness, congratulated the shareholders upon the satisfactory trading of the past year; and, while proposing the payment of a further 8 per cent.making, with the interim dividend of 7 per cent., paid. in March last, 15 per cent. for the year-cautioned his hearers as to being unduly sanguine as to the future, pointing out that so large a division had been possible during the past season owing to a good harvest and cheap hops and malt; that indications were, unfortunately, not wanting at the then moment of increased cost in manufacturing materials, with a consequent certainty of smaller distributions in the coming year. At the same time, Sir E. C. Guinness pointed out to the shareholders that the directors were taking every possible step to prevent any serious falling off in profits; and, with this in view, he announced that a sum of £49,000 had been carried forward to the next account, and that they had decided to add substantially to their reserve and depreciation funds, which now stood at £350,000 and £50,000 respectively. The chairman's remarks were received with considerable satisfaction by his co-partners, and it is little wonder that the report was carried unanimously. Few, I expect, of the recent conversions" will be able to show so satisfactory a balancesheet as Guinness and Co. Limited; nor can it be expected, seeing how few of them boast the early history possessed by this historical firm. Whilst on the subject of breweries, I might suggest to my readers that they exercise considerable caution in the future with regard to this class of investment. Many recently-registered concerns are speculative in the highest degree, and, when they come before the investing public, will require careful study as to their bona fides. It would be premature at present to do more than issue this caution; but when the prospectuses of these ventures are before us, I shall doubtless have much more to say regarding them, and may be able, in the interests of readers of Capel Court, to sift the wheat from the chaff, in spite of a large preponderance of the latter element.

The Stock

As is usual during this month there has been very little actual business done since

Market. my last, though it may be worth noting that

Continentals are in for a drop. I say this, because the successes of Boulanger during the recent elections are certain to affect both Paris and Berlin bourses, and that speedily; at present, at the moment of writing, prices may be written of as steady with a slight downward tendency; but I feel sure within the next few days matters will take a very unsatisfactory turn, and should any of those who peruse these columns be holders of either French or German securities, I advise them to realise whilst prices are good, and before the full significance of passing events makes itself thoroughly felt. As a rule, it is generally admitted that very little Continental stuff is held in London or the provinces, that judicious holders, taking advantage of the sharp boom three months ago, cleared out. I am now writing of course of professional speculators, but there are hundreds. of small holders throughout the country who would be only too glad to take profits, or indeed get back their own, if they only knew when to sell. My own impression, founded chiefly on the history of the movements of affairs Continental, is that everyone should scuttle out of foreigners.

The cold weather of the past few days, Home Railways. Combined with occasional wet, has somewhat depressed these securities, but little has been done in either direction, for the simple reason that the majority of dealers are absent from town, and such business as has been done has been limited to the Northern lines and such others as are paying dividends. I am pleased to notice that the Southern lines are looking up a bit, but the start has only as yet commenced, and we only want one or two more fine weeks to see them at their spring prices, and the confidence of investors fully restored.

Now is the time to come into this road, The Canadian either for speculation or investment; if for Pacific Railway. the former, I expect to see prices creep up day by day until at least 65 or 66 is reached. The latest

crop report from the Canadian North West respecting harvest prospects is eminently satisfactory. It is estimated that the wheat crop alone will this year exceed last by at least 10,000,000 bushels. This means more traffic receipts for the Canadian Pacific, it means more land under cultivation along the line, it means more receipts to the company, for that land will go on increasing in value year by year, with a consequent swelling of the exchequer of this grand system of railway and steam navigation.

American Railways.

Following the slight decline to which I drew attention last week comes another reaction, with the pleasing result that prices have grown firmer and prospects generally improving. In this class I still advocate buying more Reading and Philadelphia, Union, and Northern Pacifics, the last-named especially, which should go stronger on the strength of very favourable harvest reports. An official of the Northern Pacific states that the wheat crop is extremely heavy in the neighbourhood of the Black Hills and Little Falls, where harvesting has already commenced, and it is intimated that the crop will be double that of last season. As there is every appearance of the English and a good deal of the Continental wheat lands making a return below the usual average we shall be large buyers from America, and on the strength of this a rise has taken place in the New York wheat market, and hardening prices mean increasing efforts on the part of growers to bring their produce to the various railway depôts.

Market.

Little has been done in this market during The Mining the past week, but by the time the next account is cleared off, which commences on Monday next, I shall expect to see increased and increasing activity displayed in most directions. There has been some few inquiries after Transvaal and South African shares, including Sheba Reefs, Transvaal Gold and Kuysna Concessions, but prices remain unchanged. Now is the time to come in and buy these securities; Sheba Reefs, Transvaal Gold, and Moodies are all good to buy and hold; the time is approaching when these shares will be worth double, and probably treble, the prices at which they are now selling. In the copper market nothing is so firm as Rio Tintos. What becomes of the financial prophets who six or seven months ago wrote, Tintos and all copper shares will drop a hundred per cent.? How the Syndicate must laugh at these city croakers.

MERCATOR.

WILLIAM HENRY BUMPUS, STOCKBROKER AND MINING SHARE DEALER, 44, THREADNEEDLE STREET, LONDON, E.C. (Established 20 years at this address), transacts business in Mining Shares of every description. English and Foreign Stocks, Colonial Government Bonds, Railways, Banks, Financial and Miscellaneous Shares, and all Securities dealt in on the London Stock Exchange. Bumpus devotes Special Attention to Legitimate Mines, and is in a position to afford reliable information and advice to intending investors and others in the selection of Shares either for Investment or Speculation.

Mr.

The present is a most favourable opportunity for investing in Sound Mining Securities, a judicious purchase of which at the low prices now ruling will, in all probability, result in large profits within the next few months. Cornish Tin Mines-Special Business. Indian Gold Mines, South African Gold and Diamond Mines, Queensland and New Zealand Gold Mines, American Gold Mines, Copper Mines, Lead Mines. Mr. Bumpus has large transactions in the above, and can execute orders at close market prices. Send for Investment List (free on application). All Business receives Personal Attention. W. H. BUMPUS, 44, Threadneedle Street, London, E.C. (Established 1867). Telegraphic Address :-" Singular, London."

[Advt.

JUDGE TYLER, of America, does not like lady lawyers. The following conversation is said to have ensued in an American Court during the hearing of a case in which judge Tyler occupied the bench. The judge, addressing Mrs. Foltz, a lady lawyer, said that "a woman's place was at home raising her children." The words were scarcely uttered, when Mrs. Foltz quickly retorted: "A woman had better be engaged in almost any business than in raising such men as you." The Court took an early opportunity of adjourning.

VOL. VII.

THE Law Courts branch of the Bank of England, the business of which has hitherto been temporarily carried on in one of the large rooms on the ground floor of the Royal Courts of Justice, near the Carey Street entrance, is in course of removal to the large block of buildings which have been erected for the purpose in Fleet Street, at the corner of Bell Yard, and on part of the land lately occupied by the famous old "Cock Tavern." The fixtures are now being transferred to the new premises, and it is expected that the Bank will be quite ready for business purposes by the time the Law Courts re-open at the end of October.

MR. J. J. HEATH SAINT, the Revising Barrister for the Parliamentary and Municipal Borough of Birmingham, will probably commence his annual Court for the revision of the voters' lists for the several divisions and wards about the middle of next month. Yesterday was the last day for the lodging of claims with the overseers of the parishes included wholly or in part in the Municipal and Parliamentary constituencies, and also for the serving of notices of objections to persons whose names appear on the Overseers' lists. The Parliamentary borough of Birmingham includes the parish of Birmingham, the parish of Edgbaston, and parts of the parishes of Aston, Harborne, and King's Norton. On behalf of the Birmingham Conservatives, notices of 605 claims and 2,880 objections have been duly served. The Birmingham Liberal Association will make 536 claims, of which 48 are lodger claims, 415 Parliamentary and municipal, 40 Parliamentary only, and 33 municipal only. The association have lodged no objections. The newly-formed Liberal Unionist Association has also given notice of a large number of claims.

No. 98.

A JURYMAN at the last Lewes Assizes makes the following complaint:-There were such a large number of jurymen summoned that they could not find convenient accommodation in the Court, and, fearing their names should be called on in their absence, they had to remain in the place appointed for them in such a crowded state as to be almost stifled with the heat and closeness. Also the great unnecessary loss of time to men in business of having to wait about for days without being called at all. I myself had thus to wait three long days before I was called, and the day we were called we were dismissed early in the afternoon, and told to be there again by 10.30 punctually next morning. I contend that if those who have the summoning and keeping the jury there till wanted were ordinary men of business, and had to pay for the time when the jury was actually wanted only, and not for the time of waiting about, they would find better means and regulations, so as not to have them about unnecessarily longer than required. the accommodation regarding the seating arrangements is shockingly bad; neither is even a glass of water at hand in case it is wanted, not to speak of other inconveniences.

Also

MR. OCTAVUS JOHN WILLIAMSON, the barrister appointed to revise the lists of the Parliamentary voters and county electors for the City of London, will hold a Court for the revision of such lists in the South Court in the Guildhall of the City of London, on Saturday, September 8, at 11 o'clock. He will also hold an evening sitting of his Court at 6 o'clock on Thursday, September 13, in the South Court, for the purpose of revising the lodger lists. Mr. William Ribton, the barrister appointed to revise the lists of Parliamentary voters and county electors for the respective divisions of the Borough of Southwark, will hold a Court for the revision of such lists at the Vestry Hall of St. George-theMartyr, Borough Road, Southwark, on Monday, 10th; Tuesday, 11th; Wednesday, 12th; and Thursday, the 13th days of September, at 10.30 precisely for No. 1, the West Division, when the list for St. Saviour's District, comprising the parishes of St. Saviour's, Southwark; Christchurch, Surrey; No. 1, St. Michael's; and No. 2 St. Paul's wards of the parish of St. George-the-Martyr, Southwark; and that portion of the Bermondsey Division called No. 3, St. George's Ward, of the parish of St. George-the-Martyr, Southwark, will be revised. An evening sitting will be held on Wednesday, September 12, at 6 o'clock. No 2, the Rotherhithe Division,-The revision of the lists for this division-namely, the St. Olave's District, comprising the parishes of St. Olave, Southwark; St. John, Horsleydown; and St. Thomas, Southwark; the parish of Rotherhithe; and No. 4 ward of the parish of Bermondsey, will take place at the Town Hall, Spa Road, Bermondsey, on Tuesday, 18th; Wednesday, 19th; Thursday, 20th; and Friday, the 21st days of September, at half-past 10 o'clock. An evening sitting will be held on Wednesday, September 19, at six o'clock. No. 3, the Bermondsey Division.-The revision of the lists for this division-namely, No. 1, 2 and 3, wards of Bermondsey parish will take place at the Town Hall, Spa Road, Bermondsey, on Tuesday, September 25, and An evening following days, at half-past 10 precisely. sitting will be held on Wednesday, September 26, at six o'clock.

A STRENUOUS attempt to make a volunteer, who had not rendered himself efficient for the year, pay the amount of the capitation grant, was tried in the Aberdeen Sheriff's

Court, last week. Colonel William Hall, commanding the Ist Aberdeen Engineer Volunteers, sued Sapper James Henderson for the recovery of £1 16s., in that he had failed to make himself efficient and earn that amount of capitation grant for the corps. The case had been before the Court several times before. Henderson pleaded not guilty. After hearing the evidence, Sheriff Brown held there was no obligation, either in the Act of Parliament or in the Order of Council, requiring a volunteer to make himself efficient for any period. He therefore found the complaint not

proven.

MR. WILLIAM CARTER, one the coroners for Surrey, has retired, owing to advanced age, from the duties of that office. Mr. Carter was formerly coroner for the whole of East Surrey, but some time since the county was divided, and fresh coroners were appointed in the new districts. Under the new arrangement Mr. Carter held the northeastern division, comprising the parishes of Bermondsey, Rotherhithe, St. Saviour's, Christchurch, Newington, and Lambeth, including the Brixton division, until, by order of the county magistrates, in June last, he discontinued to fulfil the duties of coroner in those districts, with the exception of Bermondsey, Rotherhithe, and Brixton divisions, which he held up to the time of his retirement. The acting coroner is Mr. George Perceval Wyatt, the coroner for Camberwell.

THE following gentlemen have been added to the Commission of the Peace for Scarborough :-Sir George R. Sitwell, Bart., Councillor W. C. Land, and Mr. Henry Wright, surgeon.

A LEEDS solicitor writes to the Yorkshire Post:-Being engaged several days at the recent Assizes, held in Leeds, I was much struck with the want of accommodation provided for solicitors. The only provision consists of a room upstairs at a considerable distance from the Courts, which is also used by solicitors' clerks, no room being provided for them. There is no refreshment room, save and except a bar which is open to the public, and where nothing better than sandwiches can be obtained, and must be consumed standing, no seats being provided. On the other hand, the accommodation provided for barristers consists of Law Library, Robing-Room, Barristers' Clerks' Room, together with a luncheon room, where luncheon is properly served. It is needless to add that a solicitor is not allowed to use the library, nor is he allowed to put his head inside the refreshment room. Surely, Sir, it is high time the matter was taken in hand by the Leeds Incorporated Law Society, for the purpose of inducing "the powers that be" to provide a library and refreshment room for solicitors, also a room for their clerks, so that solicitors may not any longer be put to the inconvenience, indignity and degradation they now endure. Better still were the excellent suggestions of the Solicitor-General for the fusion of the two branches of the profession carried out, and then solicitors would be placed on a proper footing; for I have yet to learn that the average solicitor is in any way inferior to the average barrister, in either social position or education. I don't think the Mayor, if the question was brought to his notice, would wish such class distinction to continue any longer. Having been in practice over sixteen years, and engaged several times at the Assizes at York and Leeds, I speak from experience.

THE LOCAL GOVERNMENT ACT,

1888.

THE following circular letter explanatory of The Local Government Act, 1888, signed by Mr. Walter H. Long, M.P., have been addressed by the Local Government Board to all clerks of the peace in England and Wales. "Local Government Board, Whitehall, S.W., August 17, 1888.

"Sir, I am directed by the Local Government Board to draw the attention of the Court of Quarter Sessions to the provisions of the Local Government Act, 1888, relative to the constitution of county councils.

"Section I directs that a council shall be established in

every administrative county as defined by the Act, and be intrusted with the management of the administrative and financial business of that county, and shall consist of the chairman, aldermen, and councillors. By section 2 it is enacted that the council of a county, and the members thereof, shall be constituted and elected, and shall conduct their proceedings in like manner, and be in the like position in all respects, as the council of a borough divided into wards, subject, nevertheless, to the provisions of the Act, and in particular to certain provisions set out in the section. So far as these provisions relate to the aldermen and councillors, it is only necessary here to refer to one of them, viz., that which directs that the divisions of the county for the purpose of the election of county councillors shall be called electoral divisions and not wards, and that one councillor only shall be elected for each electoral division.

"It should be stated that the expression' administrative county' means the area for which a county council is elected in pursuance of the Act, but does not (except where expressly mentioned) include a county borough, i.e., any borough men. tioned in the third schedule to the Act. These boroughs are, for the purposes of the Act, made counties of themselves.

"As regards the number of the county councillors, and the boundaries of the electoral divisions in every county, subsection (3) of section 2 directs

"(a) That the number of the county councillors, and their apportionment between each of the boroughs which have sufficient population to return one councillor, and the rest of the county, shall be such as the Local Government Board may determine;

(b) That any borough returning one councillor only shall be an electoral division; and

"(c) That in the rest of the county the electoral divisions shall be such as in the case of a borough returning more than the county the quarter sessions for the county may determine; one councillor the council of the borough, and in the rest of subject in either case to the directions enacted by the Act; and in the case of elections after the first, to any alterations made in accordance with such directions, in manner in the Act mentioned.

"In pursuance of the powers conferred upon them by the Act, the board have issued orders determining the number of the county councillors for each county, and their apportionment between each of the boroughs which have sufficient population to return one councillor, and the rest of the county. Six copies of the order relating to your county are inclosed. It will of course be understood that the number of councillors prescribed by the order does not include the county aldermen.

boroughs returning more than one councillor, and, in so much of the administrative county as is not comprised in a borough returning one or more councillors, on the Court of quarter sessions for the county, to determine the electoral divisions, subject to the directions enacted by the Act.

"It will now devolve on the town council of each of the

"The Act requires that the electoral divisions for the first election shall be fixed on or before November 8 next, and it provides that in the constitution of electoral divisions of a county, whether for the first election or for subsequent elections, the following directions shall be observed:

"(1) The divisions must be arranged with a view to the population of each division being, so nearly as conveniently may be, equal, regard being had to a proper representation both of the rural and of the urban population, and to the distribution and pursuits of the population, and to area, and to the last published census for the time being, and to evidence of any considerable change of population since the census was taken;

"(2) Electoral divisions must, so far as may be reasonably practicable, be framed so that every division shall be a county district (i.e., an urban or rural sanitary district), or a ward, or a combination of county districts or wards, or be comprised in one county district or ward. But where an electoral division is a portion of a county district or ward, and such portion has not a defined area for which a separate list or part of a list of voters is made under the Acts relating to the registration of electors, it must, until a new register of electors is made, continue to be part of the district or ward of which it has been treated as being part in the then current register of electors;

"(3) Whenever under these provisions a county district is divided into two or more portions, every such portion must, as far as possible, consist of an entire parish or of a combination of entire parishes;

"(4) In determining the electoral divisions for the first election, the foregoing provisions will apply as if, where a rural sanitary district is situate in more than one county, each portion of the district which is situate in the same county were a county district. Any such portion may be combined with a county district, or portion of a county district, although not adjoining.

"The term 'ward' is not defined by the Act, but for the present purpose the board understand it to mean a ward

formed for the election of the members of any urban sanitary authority.

"The general principle of the directions mentioned above appears to the board to be that the electoral divisions are to be so formed as not to overlap an urban sanitary district, ward, or rural sanitary district, except in so far as may be necessary for giving effect to the provisions contained in the paragraph numbered (1). Regard is also to be had to the boundaries of parishes, and the board may point out that where a parish is situate partly within and partly without a borough or urban sanitary district, each part is to be considered as a separate parish for this purpose.

"The board may observe that in some counties there are boroughs which, although they have not sufficient population to enable them to return a councillor, yet form parts of county districts, to which separate representatives might properly be assigned. In any such case it will, of course, be competent for the Court of quarter sessions to form the county district *nto an electoral division.

"In each of the cases last referred to it will shortly devolve on the board to issue a provisional order under the Act determining the future area of the county district in such a manner that the town council will become the district council. Where it is probable that the boundaries of the borough will be by this means extended, it might manifestly have been productive of inconvenience, and have necessitated the future alteration of the electoral divisions of the county if a councillor had been assigned to the borough before its boundaries had been extended.

"The first council elected under the Act for any administrative county is to be elected for the county at large as bounded at the passing of the Act for the purpose of the election of members to serve in Parliament for the county. This provision, however, is subject to the following exceptions: "(1) It does not apply to the boundary between two administrative counties which are portions of one entire county, and in case of those administrative counties, the boundary between the portions, as existing for the purposes of county rate, will, subject to any change made by or in pursuance of the Act, be the boundary of the administrative county for which the council is elected.

66

(2) Where an urban sanitary district is situate partly within and partly without the boundary of such county, the district is to be deemed to be within that county which contains the largest portion of the population of the district according to the census of 1881.

"(3) The wapentake of the ainsty of York (except so much as is included in the municipal borough of York as extended by the York Extension and Improvement Act 1884) is for all purposes of the Local Government Act to be deemed to be part of the West Riding of the county of York.

66

If any difference arises as to the county which contains the largest portion of the population of an urban sanitary district situate in two or more counties, the difference is to be referred to the board, whose decision will be final.

"These provisions do not apply to the administrative county of London or to any county borough; and any place which, though forming part of a county borough for the purposes of the election of members to serve in Parliament, is not within the municipal boundary of the borough will, for the present purpose, form part of the county in which the place it situate.

"It will be seen that the area for which a county council is to be elected, and in which, therefore, electoral divisions must be formed by the Court of quarter sessions, will not necessarily be the same as the area hitherto subject to the jurisdiction of the Court. For, as already stated, an urban sanitary district situate partly within and partly without the county is to be deemed to be within that county which contains the largest portion of its population; and the part of any district thus brought into the administrative county must, in constituting electoral divisions, be dealt with by the Court of quarter sessions of that county only, unless it forms part of a borough which will return one or more councillors, in which case the electoral divisions will have to be determined by the town council, and not by quarter sessions. Moreover, for all purposes of the Act, every liberty and franchise of a county, wholly or partly exempt from contribution to the county rate, is, subject to certain exemptions which are not material for the present purpose, made part of the county in which it is included for parliamentary elections. The Cinque Ports and two ancient towns, and their members, are also, for all the purposes of the county council, and of the powers and duties of quarter sessions under the Act, to form part of the county in which they are respectively situate. In all these cases it will devolve upon the Court of quarter sessions of the county to deal with the areas in question in forming electoral divisions, except in so far as the area may be included in a county borough or in any borough which will return one or more councillors.

"The Courts of quarter sessions for the counties of Middlesex, Surrey, and Kent respectively will form the electoral divisions in so much of those counties as is situate outside

the metropolis, and is not comprised in a county borough or in any borough returning one or more councillors.

"The ridings of Yorkshire, the divisions of Lincolnshire, the eastern and western divisions of Sussex, under the County of Sussex Act, 1865, the eastern and western divisions of Suffolk, the liberty of the Isle of Ely, and the rest of the county of Cambridge, the soke of Peterborough, and the rest of the county of Northampton, constitute separate administrative counties for the purposes of the Act, and it will devolve on the Courts of quarter sessions having jurisdiction in these areas to form electoral divisions in so much of them respectively as is not included in any borough with sufficient population to return one or more councillors.

"The Scilly Isles are not to be included in any electoral division of the county of Cornwall.

"It is obvious that in fixing the electoral divisions in accordance with the directions contained in the Act, regard must be had to the areas for which separate lists or parts of lists of voters have been made, so that the electoral divisions may be formed in such a way that there will be no difficulty in ascertaining who are the electors entitled to vote in each division. The board are desirous of drawing special attention to this point. They are empowered by the Act, in the case of the first election, to authorise an electoral division to return two or more members in any case where the difficulties arising out of the registers of voters and the population of any area appear to render it necessary; and they may also authorise portions of two or more county districts or wards for which a separate register can be made to be united for the purpose of an electoral division. The board think, however, that these powers should only be resorted to in very exceptional cases. "I am, &c., WALTER H. LONG, Secretary."

HONOURS AND APPOINTMENTS.

Mr. ROBERT GRAY CORNISH MOWBRAY, barrister, M.P., has been appointed Assistant Private Secretary to the Chancellor of the Exchequer. Mr. Mowbray is the eldest son of Sir John Robert Mowbray, Bart., M.P. He was educated at Eton and at Balliol College, Oxford, where he graduated first class in classics in 1872, and he was afterwards elected a Fellow of All Souls College. He was called at the Inner Temple in May, 1876, and joined the Oxford Circuit. Mr. Mowbray was secretary to the Stock Exchange Commission, and he has been M.P. for the Prestwich Division of Lancashire, in the Conservative interest, since July, 1886.

Mr. PHILIP PERCIVAL HUTCHINS, barrister, C.S.I., has been appointed a member of the Council of the Governor-General of India. He was educated at Merchant Taylors' School, and he has been a member of the Madras Civil Service since 1857. He was for several years a puisne judge of the High Court of Judicature at Madras, and he was created a Companion of the Order of the Star of India in 1887.

Mr. JAMES EDMUND VINCENT, barrister, has been appointed an Assistant Commissioner to inquire into the Charitable Endowments of Wales. He was educated at Winchester and at Christ Church, Oxford. He was called at the Inner Temple in Hilary, 1884, and joined the North Wales and Chester Circuit.

Mr. DAVID LEWIS, barrister, has been appointed an Assistant Commissioner for inquiring into the Charitable Endowments of Wales. He was educated at Caius College, Cambridge, and called to the bar at the Inner Temple in Michaelmas, 1873, and joined the South Wales and Chester Circuit.

Mr. JOHN LLOYD WHARTON, barrister, M.P., has been appointed a Boundary Commissioner under the Local Government Act, 1888. He was educated at Eton and at Trinity College, Cambridge, called to the bar at the Inner Temple in Hilary, 1862, and joined the Northern Circuit. He was M.P. for the city of Durham in the Conservative interest from 1871 till 1874, and he was elected M.P. for the Ripon Division of the West Riding of Yorkshire in July, 1886. Mr. Wharton is a magistrate for the West Riding, and a magistrate, deputylieutenant, and chairman of quarter sessions for the county of Durham.

Mr. GERALD STRICKLAND, barrister, has been appointed Assistant Colonial Secretary at Malta. He was educated at Trinity College, Cambridge, where he graduated in the second class of the law tripos in 1887. He was called at the Inner Temple in Michaelmas, 1887.

Mr. HENRY BENJAMIN WILLIAM HAMMOND, Solicitor, of 5, Furnival's Inn, has been appointed a Commissioner to Administer Oaths in the Supreme Court of Judicature.

Mr. L. N. PEREGRINE, barrister-at-law, of the Middle Temple and South-Eastern Circuit, has been appointed District Commissioner of the Gold Coast. Mr. Peregrine, who is the son of Dr. Thomas Peregrine, late of Halfmoon Street, Mayfair, was born in 1861, and was called to the bar in Trinity Term, 1886.

PUMP COURT.

The Temple Newspaper and Review.

EDITORIAL, ADVERTISEMENT AND PUBLISHING OFFICES, 33, Exeter Street, Strand, W.C.

AUGUST 29, 1888.

Pro Lege.

CAPITAL AND LABOUR.

ENCELADUS was one of the hundred-handed giants, who made war upon the gods. But he fought in vain, though. the contest was long and bitter, and for a time doubtful, and the heavenly forces of order triumphed over the earthly forces of anarchy and mere brute strength. Enceladus was slain, or supposed to be slain, and buried by Zeus, his conqueror, beneath Mount Etna. But he did not really die, and at seasons he bestirred himself again and struggled fiercely with the awful burden laid upon him, as if he would break free from his fiery chains. Sometimes he grew so violent and desperate, that the great mountain rocked and reeled and poured forth torrents of devouring lava, spreading destruction in their course. Enceladus, however, was unable quite to burst his bonds, though he did much damage and inspired much fear by these occasional efforts at escape. What would become of peace and law and justice, if the giant principle of disorder shook off completely the restraints imposed and accumulated by heaven-taught wisdom? Its intermittent paroxysms of rage, though circumscribed within a definite area, showed what excesses it would commit if it once overthrew the barriers. To it nothing is high or holy, from it nothing is safe or sacred. And now Enceladus is beginning to move uneasily again. He perceives, or fancies he perceives, a lightening of his yoke, a relaxation of his fetters. He has no real cause for complaint, but he is tired of inaction and imprisonment, and he is possessed with the blind passion of anarchy. But imaginary grievances are even more dangerous than true ones, because they are sure to assume the most exaggerated dimensions. And the giant is not to be despised, from the fact that we do not understand why he should break forth. He loves destruction, for destruction's sake, and he will upset all the old land-marks and boundaries, if he possibly can. And he is a power that cannot be killed. He can only be checked, controlled, and kept out of sight, and away from opportunities of mischief. Enceladus is part and parcel of the world in which we live, and he will last as long as the world endures. But we need not be alarmed, while he remains in his proper place. Even he has his uses, and at any rate he can teach us a spirit of carefulness and watchful habits-to be forewarned and forearmed. The perpetual presence of an enemy, though chained, must have a wholesome effect on the threatened person or institution, and is not an unmixed evil. Agitation, seditious movements, and the very menaces of revolution, make statesmen wary and strengthen their hands for government. They also open our eyes to the existence of defects in the machinery of Church and State, which otherwise

might remain unknown and unremedied. The occasional outbreaks of Enceladus direct attention to weak points, unguarded avenues, imperfect defences, or suppurating sores. Guns, bayonets, ships, and no less laws and principles, have to be overhauled and tested with the utmost severity.

Discontent generally is from below upwards, it rises from the bottom strata of society. It is not necessarily justified; it is often entirely destitute of any support from right or reason. But, nevertheless, it must not be neglected. It usually points to some want of harmony between opinions and institutions, and shows the desirability of some revision or readjustment of the old relations. Sometimes a very slight alteration will produce this result. And at the present moment, the growing feeling of restlessness in the working world proves the advisability of a quiet change. Capital and labour, capitalists and labourers, appear to be antagonistic to each other, when they ought to be the closest friends. Each wants to get as much, and to give as little, as possible; and so the breach widens and deepens continually. And yet capitalists and labourers are inextricably interdependent upon one another, and should rather combine than contend. The glorious principle of competition, which has been almost deified of late, is at times a little inopportune. And here it is clearly superfluous, and should be superseded by the principle of co-operation. Capitalists and labourers are not the natural enemies of each other. They cannot flourish, or even exist, apart. Capital unused and uncirculating is as good as dead; and labour without its sustenance will starve. It is curious, to say the least, that the two are often furiously opposed, instead of happily and healthily working to a common end. But perhaps the cause of this painful friction may be found in some faultiness of the present arrangements. The old moulds may be worn out, may have ceased to be adapted to the requirements of the age. And, on the surface of the question, the mere pecuniary relationship between the employer and the employment, which degrades the latter to the level of a producing machine and nothing more, does not seem to be a very sound or stable one. Money is not the best bond of union, as it sets master against man and man against master. Payment of this kind has no power to attach the one to the other, and it does not tend to excite any enthusiasm in the humble worker. His services are apt to become superficial and perfunctory, as he possesses no interest in the success of the establishment with which he is temporarily connected, beyond the matter of wages. To insure prosperity and the highest kind of workmanship in business, some worthier tie must be discovered than that of the stipendiary. And though it is easy to state and understand the helplessness of the capitalist and the labourer when separated, it is not so easy to bring the point home to the latter without the intervention and pressure of some practical proof. The discontent so prevalent now is a plea for a modification of existing arrangements between employer and employed. The old relationship is not perfect, and may be readily improved.

Experiments in a new and true direction, with a view to a solution of this difficult problem, have been recently made, with a considerable measure of success. If master and man are to be united, and not divided, some common ground and some sufficient mode of reconciliation must be found. Practical men, as well as philosophers, assure us that this has now been satisfactorily done. For the principle of competition, so invaluable and effective in many departments, they substitute the principle of co-operation. In some of its applications, competition has quite a brutal and barbarous appearance, and is only fruitful in ill-will, jealousy and estrangement. It just evokes and emphasizes the various points of disagreement, and completely ignores the points of agreement. Certain as it is, theoretically, that the interests of the capitalist and the labourer are identical, the present opposition of the two merely obscures the fact. In order to make it open and intelligible, some sort of friendly association between them has to be established. In manufactories this has been already most happily accomplished, by giving the labourer a small share in the profits, and so binding him in a substantial manner to his employer's side. And as his share is made to depend upon the prosperity of the business, it is natural that now he should strain every nerve in its favour, and put his whole heart to