On this page
-
Text (3)
-
125O THE LEADER. [No. 301, Saturday,
-
ME. JOHN THWAITES. The nomination of Mr....
-
THE LAW OF PARTNERSHIP. BY ARTHUR SORATC...
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
-
-
Transcript
-
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
The Spitalfields Weavers. We Are Glad To...
and that Abraham could not at all understand the faithfulness of her more impatient and ardent nature . The training which he had had subdued the natural generosity of his feeling , but he had not sufficient education to elevate him to a broader sense of the things around him , or to endow him with the gift of language adequate to his thoughts . He had to struggle
with a nightmare impotence upon his tongue . He could not make himself understood ; he could not understand ; he strained the girl's patience beyond endurance , and ultimately made her and himself victims to the thraldom which half-education puts upon the natural sense of man , from which complete education emancipates him .
125o The Leader. [No. 301, Saturday,
125 O THE LEADER . [ No . 301 , Saturday ,
Me. John Thwaites. The Nomination Of Mr....
ME . JOHN THWAITES . The nomination of Mr . Thwaites , a draper in the Borough , to the high and honourable post of Chairman to the New Metropolitan Board of Works , for Which there was a crowd of aspirants , including barristers , magistrates , Members of Parliament , and men of political eminence , like Mr . Roebuck , is a singular circumstance , and one which deserves attentive consideration . It deserves our attention in an
especial degree , because we supported the candidature of Mr . Roebuck against that of Mr . Thwaites ; whose antecedents were unknown to us , and -whose name had never attracted the notice of the public at large . We have , therefore , been at some pains to inquire into the motives of a nomination which , at the first blush , appears hardly judicious ; and we are bound to declare frankly that the res ' ult of our inquiries is such as to enable us to bear witness to the good sense manifested by the - new Board in the election of Mr . Thwaites as their President .
We learn that Mr . Thwaites , though engaged in the business of a woollen-draper , has taken an active part for many years in the local affairs of his neighbourhood ; having , among other things , effected the amalgamation of rival Gas Companies , so as to secure a diminution of working costs by the elimination of double plants , double salaries , and double charges of all kinds ; the result being a considerable reduction in the price , and
improvement in the quality of the gas supplied , without diminution of profit to the suppliers . Those who have ever attempted * the conduct of an amalgamation of this kind , know by how many practical difficulties it is beset ; how many rival interests and opinions must be brought into harmony ; how many prejudices overcome ; how many animosities allayed ; how much tact , judgment , and energy brought to bear , befoi'c the desired end can bo attained .
His success in this , and other similar local undertakings , marked Mr . Thwaites in the eyes of hia fellow-citizens of the South side as a fit man to represent their interests in the Commission of Sewers , now on the point of winding up . In that Commission he has had an opportunity of becoming thoroughly acquainted with what may be called the subterranean affairs of the metropolis . For while , on the one hand , the appeals of Deputations and of individuals , and tho current business
of the office brought under his notice in the most practical form the grievances and wishes of the rate-payers in respect of drainage ; it also fortunately happened , on the other hand , that the principal expositor and champion of the modern sanitary system was appointed a Commissioner during Mr . Thwaitibs' term of office , and delivered a series of addresses on combined House Drainage , tubular street drainage , main intercepting drainage , and the agricultural utilisation of sewage , which expositions of jwHtnciple , it may bo readily supposed
were not lost upon his intelligent colleague . Mr . Thwaites and Mr . F . O . Waed soon appreciated each other ; and though , at the outset , they stood opposed on several occasions , yet latterly they have fought side by side in almost every important debate ; their differences of opinion being only such as mark , on both sides , an honest independence of judgment , and a decision of each question as it arises , not in the spirit of party , but in the light of simple truth .
To the knowledge of public affairs thus acquired in various schools of experience , Mr . Thwaites , if we are rightly informed , adds personal qualities which fit him in an eminent degree to guide the proceedings of a popular assembly . He unites suavity of manner with firmness of will ; tact with single-mindedness and honesty of purpose ; and a good deal of natural eloquence with remarkable powers of application and capacity for the despatch of business . Such , at least , is the view which , we are assured , is taken by his supporters , as
to his qualifications for the responsible office to which they have named him . As we supported the candidature of Mr . Roebuck , against that of Mr . Thwaites , we feel that it is but fair play to acquaint the public with the grounds of the preference accorded by his colleagues to the latter gentleman , doubtless after a fall and fair comparison of eminent merits on both sides . In a remarkable letter , of which we hope to publish an analysis next week , Mr . Thwaites ' accession to power is traced , not so much to any success of his in debate , or to any intellectual ascendancy acquired by him over his colleagues , as to the devotion to truth at all hazards , manifested on his staunch support of
Mr . Ward , throughout his late perilous encounter with the " eminent engineers . " There is no doubt that , though-Mr . Thwaites stands aloof , as he should do , from party warfare , his nomination iu the place of Mr . Ward ' s implacable opponent , Mr . Jebb , is a signal triumph for the Sanitary Reformers . On the other hand , the members of the new Metropolitan Board , and the general body of rate-payers whom they represent may , we think , congratulate themselves on having singled out , for the conduct of their debates , a President of their own class and order , possessing , in so high a degree as Mr . Thwaites , the rare combination of qualities which should distinguish the leader of a popular municipal council .
The Law Of Partnership. By Arthur Soratc...
THE LAW OF PARTNERSHIP . BY ARTHUR SORATCIILEY , M . A ., Paht II . A disadvantage , which must not bo omitted to ba mentioned iu relation to unincorporated Share Companies , is , that a person , on becoming a shareholder in such companies , is legally disqualified from recovering compensation for work done or services rendered on account of such associations ; nor can he recover on any bill or noto accepted by the directors or Bccrotary of such association . The acceptance of shares rendering him a partner in the undertaking , it consequently
cutfl off hia right of action against the firm into which he has entered . The nogociation of such acceptances or bills would remove such objootions as regards their right of action and recovery by third partios . To remedy this difficulty , ifc is usual to insert in the deed of settlement , of companies oatablishocl tinder tho Registration Act , u provision that , as between the companies and tho proprietors , partnership shall not bo pleaded ; otherwise , in aotious upon culls , or for non-payment of Hhnres-iustalmonts , or for debts duo from a membor to tho company , or from tho company to a mornbor , no right of recovery would
exist . Tho powors Homotimes oxoroised by unincorporated and ovon unregistered companies , of advertising for subscriptions on transferable shares , wero always illegal at common law , and still continue so , subjecting the parties engaged in thorn , in addition to ttio ordinary liabilities of partnership , and tho penalties of tho statute , to be indicted as nuisances , in protending to aot as corporations . But the Legialaturo , with a viow of facilitating laudable undertakings by jointstock , has vested in tho Crown powers by which tho
necessity of an Act of Parliament in . certain cases may be obviated . By the Act 1 Viet ., cap 73 , the Queen ia empowered to grant , by letters patent , to persons associated for trading and other purposes , many of the privileges of a charter of incorporation , by limiting the liability | of the patentees , and enabling their secretary or other public officer to prosecute and defend suits in the name of the association , and they may even sue one of their members . Letters patent under the statute are equivalent to a private Act , except when compulsory powers to take , lend , & c , are requisite . Directors under this Act , and also under 7 and 8 Viet ., cap . 110 , may advertise for subscribers and may allot shares upon provisional registration under
the latter statute ; butib has been decided , that except in case of companies such as are formed for the making of railways or other public works , which require a special Act of Parliament , no shareholder in a company merely provisionally registered can , dispose or offer for sale any script or certificate for shares in the capital stock , even if he has paid a deposit thereon . We now propose to enumerate the legal authorities under which Joint-Stock Companies , or other associations analogous to them , or associations for any purpose other than trade , commerce , or manufacture , may be formed . It may , however , be useful to give the legal definition of a Joint-Stock Company , and of the persons moving in their formation and constituting the game .
The Registration Act , under the limitations mentioned , defines a " Joint-Stock Company to comprehend every partnership having a capital divided into shares , such being transferable without the consent of all the copartners . " The " Promoters" of a company is explained to be " every person acting in the framing and establishing a company , at any period prior to the company obtaining a certificate of complete registration . " The word " Subscriber * ' means " every person who shall have agreed in writing to take auy shares in the proposed or formed company , and who shall not have executed the deed of settlement . " A "Shareholder" means "a person who is entitled to a share in a company , and who has executed the deed of settlement . " Joint-Stock Companies may be constituted : — 1 . By Special or Private Act of Parliament . 2 . By Royal Charter .
3 : By Letters Patent , under the Act 1 Viet . c . 73 , by which the Act 6 Geo . IV . c . 91 was partially , and the Act 4 and 5 Wm . IV . c . 94 wholly , repealed . 4 . Joint-Stock Banks coming within the definition of a " Joint ^ Stoek Company , " before explained , will necessarily include the Statutes 7 Geo . IV . c . 46 , and by which Joint-Stock Banks are regulated . 5 . By the Joint-Stock Companies' Registration Act 7 and 8 Viet . c . 110 , as amended by the Act 10 and 11 Viet . c . 78 . To these may be added , subsidiarily , as affecting the managing and working of companies , the Acts 7 and 8 Viet . c . Ill , 7 and 8 Viet . e . 98 , 9 Viet . c . 16 , 11 and 12 Viet . c . 45 , and 12 and 13 Viet .
c . 108 . It will be seen from the Act 7 and 8 Viet , that certain companies and associations are exceptcd but for the purpose of registration , as not coming within the definition " Joint-Stock Companies , " as prescribed by the Registration Act , although such companies arc essentially partnerships , and in some cases , as in those of Banking Companies and Mining Companies , on the cash-book principle , carry out their operations by means of a joint-stook composed of transferable shares . Such banks , however , ai'O exceptod because they arc constituted as before described , under the Act 7 Geo . IV . c . 46 , and the Act To the associations or companies ( so excelled ) we may add : — 0 . Benefit Building Societies , constituted under tho 6 and 7 Win . IV . e . 32 .
7 . Loan Societies , established under 5 and u Win . IV . e . 23 , as repealed and amended by tho 3 ami 4 Viet . c . 110 . 8 . Friendly Societies , established umlor 10 Geo . / J . c . 56 , as amended and explained by tho 2 Win . /•• c . 37 , 4 and 5 Win . IV . c . 40 , 3 and 4 Viet . c . 73 , 0 and 10 ' Viet . c . 27 , nml 13 and 14 Viet . < : 11 5 , 3 5 " ¦ nd 16 Viet . c . 65 , 16 and 17 Viet . <\ "J 23 , and 17 and 18 Viet . c . 101 . The throo last mentioned are whorl , AcK to umona in slight particulars , and continue tho 13 and 11 Viet . e . 115 , which Aot repeals , except so furiis rogardfl Societies established under any of tho provioiin Actsrelating to FriendlSocieties .
, y , Certain seotionn of tho ' l 2 andVi Viet . <\ 100 , 1 «<» " < 17 Viet . c . 34 , 17 and 18 Vie . c . 105 , and 17 and IB Viet . e . 81 , also apply to Friendly Societies . 9 . A apooios of Joint-Stock Company , <> r nooiety , must noAV bo mentioned , not contemp lated by tuo Registration Act 7 and 8 Viet . a . 110 , nanioly , \ naua ' trial Provident ( Partnership ) SaoiotioH , whioh aio authorised by the 15 and 16 Viet . c . , oh umoiiclea by the 17 Viet . c . 25 , to tho rules and rogulationn noccosBary for whioh tho principal matter ol tne papers is specially devoted . { To be continued . )
-
-
Citation
-
Leader (1850-1860), Dec. 29, 1855, page 14, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_29121855/page/14/
-