ROBARTS, LUBBOCK & CO. First publication of Balance Sheet
ROUSE (Edmund). Remarks in Discussion (Baden-Powell on Trust
Funds and Colonial Government Securities)

SALE. Bank's power to sell stocks held as security

Codification of the Law of. By His Honour Judge

SALE.
Chalmers.

PAGE

209-210

352

64

Codification of the law relating to bills of exchange and to partnership
Interest of bankers in the improvement of mercantile law
Obscurity of the general principles of the law of sale

11-12

12

12-13

The proposed Bill is purely a codifying measure, and states only general
propositions

13-14

Difference hetween English and Scotch law of sale
Sales to married women. Statute of Frauds

15

15-16

Implied warranty of title and of "Merchantableness

16-17

Ownership. Property passes when intended to pass, and rules for ascer-
talning intention

17-18

The experience of previous codification shows that where such measures
are desired by the mercantile community, Parliament will interpose no
obstacles

Letters from Lord Herschell and Mr. John Hollams; Practical im-
portance to bankers of the measure

37

Tritton (J. Herbert).

Interest of bankers in the question; The Statute of Frauds, and
stoppage in transitu; Judge Chalmers' Paper is a strong argu-
ment for the amendment of the law on these and other points

37-38

Macdonell (John).

The Bill is a great step towards the codification of mercantile law;
Continental mercantile codes are far superior in plan and
execution to the mercantile code being elaborated in England;
Desirability of sub-sections; Statute of Frauds; Intention of the
parties; Delivery; Stoppage in transitu; Difficulty of har-
monising the conflicting decisions on that point

Bankers are more interested in the pledge of goods; Desirability
that the promoters should obtain assent to the principle that
entrustment gives title; Application of the principle of the
Factors' Act to negotiable securities

38-40

40-41

Slater (Robert).

The Codification of the Law of Sale would be as useful to traders as
the Bills of Exchange Act is to bankers; Market overt; bankers
are much interested in the law of stoppage in transitu

41-42

Chalmers (Judge). In reply.

Stoppage in transitu is a point on which the law may be made
clearer; Reasons for introducing the Bill as a purely codifying
measure, simply reproducing the existing law; Amendments
raising debate or controversy would probably jeopardise the
passing of the Bill; The Statute of Frauds; Foreign codes;
Educating influence of codification abroad; Sub-sections; Bankers
and negotiable securities

42-45

SALE-continued.

Letters addressed to the Lord Chancellor and to Lord
Herschell

SALT (Thomas, M.P.). Presidential Inaugural Address, Session

1891-92.

Death of Sir Robert Fowler

PAGE

146

607

The Institute; Progress; Library; New offices; Lectures; Examinations;
Papers for the Session

607-609

Other Institutes-Scotland; Australasia; North America; Cape of
Good Hope

609-610

Appointment record for use of members

610

Acts of Parliament relating to coinage, forged transfers, and stamps
Bank amalgamations

610

611

611

612

612-614
615
615

Diversity of practice in banking

The Baring Crisis of 1890

United action of the banks and the Bank of England which enabled us to
tide over the crisis

Probable effects of the crisis.

Trade; Bankers' Clearing House returns

Forged cheques; Consols

Monthly accounts; Banking failures and difficulties in 1890."

Fowler (Wm.). Proposed vote of thanks.

Banking panics; The crisis of 1890 was not a banking crisis; Increase in
amount of bank reserve since 1856; Our greatness as a trading nation
is due to the extent to which our business is done on credit, but we are
liable to crises if we use our money up so closely by trading on credit;
We have not had a panic since 1866; Magnitude of the crisis of 1890;
Possibility of a change in the law which would give more elasticity
to our system .

Harvey (A. S.). Seconded vote of thanks.

The action of the Bank of England in November, 1890, averted a banking
panic; Bankers have been subject to much criticism, and want now to
be left alone

SAUERBECK (A.). Prices of Commodities, 1867-1890

SAVINGS BANKS Deposits, 1890-1891

615-616

616

617-620

620-621

211-213

567-568

SCOTLAND. Institute of Bankers in

Mercantile law in

609

15

Trust Amendment Act, 1884

SCOTT. Union Discount Company of London. (Legal Decision). SECURITIES borrowed by Stock-broker and not returned. Banker's remedy

346, 358 136-139

62

Legal duration of the validity of a stamped and dated trans

SHARES in Limited Company in joint names, vest in survivor

Question (American Bankers' Convention)

SIMMONS . London Joint Stock Bank

SLATER (Robert). Remarks in Discussion. (Chalmers on the

Codification of the Law of Sale).

SMITH (T. J.). Banks and Bankers of Leek. Notice:

57-61

443-445

397

636-637

399

400

107-108

236-238

41-42 406-407

On authority to debit account with an acceptance
On Bill for collection, payable abroad

On Bill of Exchange payable abroad

With exchange as per endorsement

At usance paid as if at sight

On cheque of customer withdrawing funds personally
On debit slips drawn by officers of bank.

On demand bill held as security

On draft application form, to be used in debiting account

On draft of banker in the United Kingdom

On mortgage of life policy

On transfer, as to date of stamp affecting validity

From current to deposit account

Blank, held as security

From one customer's account to another

STATUTE of Frauds.

Of Limitations. Promissory note

STEELE (Francis Edward). On Changes in the Bank Rate of

Discount. Prize Essay, 1890-91 .

STOCK held as security. Bank's power of sale

STOCK EXCHANGE. Address to Governor and Directors of the

PAGE 565-566

409

645
329

142-143

145

62

458
333-334
409
458-459
583
64

217-218

331-332

333

16, 39-40

145-146

474-497

64

9-10

408

19-20

20, 30, 31 644

46-47 567

116-117, 211, 636–637

555

642-643 331-332

333

17-18 217-218

333

220

64

253-254 37-38

TEN-SHILLING PIECES. Mr. Childers' Proposal in 1884.

TILLYARD, Frank, B.A. Banking and Negotiable Instruments.

Notice

TRANSFER. Blank and undated, held unstamped

Of deceased customer's balance

Of ownership

From current to deposit account. Stamp

From one customer's account to another's. Stamp

Legal duration of the validity of a

Registration of .

TRITTON (J. Herbert). Remarks in Discussion (Barnes on advances by Bankers on Stocks).

(Chalmers on the Codification of the Law of Sale).

TRUST FUNDS AND COLONIAL GOVERNMENT SECURITIES. By Sir
George Baden-Powell, K.C.M.G., M.P.

Why and how Colonial Securities should be made available as trust
securities

Legislative efforts in this direction

Need of new avenues for the investment of trust funds

343 343-344 344-345

Decrease in existing channels of investment, due to the steady redemption
of the National Debt and the lower value of land

345

Rules of the Supreme Court as to trust funds

345-346

Provisions of the Trust Act for Scotland

346

Gradual appreciation of Colonial Securities as a new outlet for the invest-
ment of trust funds

346

Steady and great growth in industrial and commercial activity of our
colonies,

346-347

Obstacles which have prevented these securities being placed in the
position due to them, viz., absence of means for holders to enforce
claims, and the impracticability of limiting issues

.

The first obstacle is removed, and the second is capable of arrangement
Automatic rule limiting investments to stocks which maintain a certain
rank on the Stock Exchange

Advantages which would attend the inclusion of Colonial Stocks in the
list of trustee investments.

APPENDIX.

PAGE

347

347

343 348-349

349

349

a. Statistics of Colonial growth

b. Purposes for which Loans have been expended

c. Stocks created by Municipal Corporations in the United Kingdom, up
to 1888

d. Investments by Trustees in Scotland

Discussion on Sir G. Baden Powell's Paper.

Martin (John B.).

Effect of the proposal on the price of Consols; Stimulus which
might be given to reckless borrowing by the Colonies; On what
principle should Government interfere, and give legislative sanc-
tion to trust investments

Rouse (Edmund).

Advantages to the Colonies and the mother country if the suggested
alteration were made: British deposits in Australasian banks

Billinghurst (H. F.).

Present status of Colonial Stocks; Existing loans well held; Signs
that investors are not at present disposed to absorb further large
issues; Expenditure on re-productive works; Raising of loans in
the Colonies; The annual payment of interest will constitute an
inconvenient drain on colonial resources; Necessity of en-
couraging immigration

Cork (Nathaniel).

British deposits in Australasian banks; Scotch trustees are per-
mitted to invest in colon al stocks; Parliamentary control of
colonial issues; Standard of merit of colonial stocks; Stocks
already largely held by trustees

Baden-Powell (Sir George) in reply.

Parliamentary control of the issues; The departmental committee; Automatic rule recommended; Effect of the proposed action on the price of Consols; The proportion of colonial government securities is small compared with the total funds now available, and any increased value given to colonial stocks would only slightly decrease the value of consols; Advantage of raising the credit of the Colonies; The bill would permit trustees to invest but not compel them; Borrowing has not hitherto been reckless Report of Departmental Committee.

UNION DISCOUNT COMPANY OF LONDON. Scott r. Legal Decision

UNITED STATES. Clearing House Returns

Estimated loss to creditors from failures.

Number of National banks

Report of the Director of the Mint, 1889-90

Comptroller of the Currency, 1889-90 Reserves of National Banks

350

351

351 355

352, 357

352

352-354

354-355

355-357 213-214

136-139

205-209

569

433

397-400

433-439

115-116

VAGLIANO BROS. Bank of England r. (House of Lords). Report