xlviii report — 1859. 



culty about. Let us take the case of Stock in the Funds. A. B. and C. D., 

 trustees of a Society, have £1000 Consols standing in their names. By a re- 

 solution of the Society they are removed from the trusteeship, and E. F. and 

 G. H. are appointed. It is proposed to enact that, thereupon, the Stock 

 shall vest in E. F. and G. H. ; but, how is the Bank, which knows nothing 

 about trusts, to be induced to pay the dividends to them? There must be 

 something equivalent to a transfer of the Stock into their names, by direction 

 of the old trustees, or of the Court of Chancery ; and I do not see that any 

 plan can be devised more simple and inexpensive than the present mode of 

 transfer. 



The Bank of England would certainly oppose any attempt to make them 

 enter on their books that Stock is subject to any trust ; and yet, unless it 

 appeared on the books that the Stock is held in trust for a Society, it would 

 not be possible to make any provision for a transfer of the Stock on pro- 

 duction of resolutions of the Society. 



It occurred to me, that Powers of Attorney, for transfer of Stock vested 

 in trustees for Societies, might be exempted from Stamp Duty ; but, on 

 consideration, I do not see how the Bank could know what powers were 

 lawfully exempted, without taking notice of the trusts. 



The same objections would not apply to all other descriptions of personal 

 property ; but, I presume, if the proposed alteration of the law is not appli- 

 cable to Stock, it would not be thought worth while to make it with reference 

 to other species of property. 



In the Literary Institutions Act, there is already a section (the 20th) as 

 to the vesting of personal property ; but it does not very clearly appear how 

 it would work in such cases as are above referred to. 



M.J. B. 

 ]5th January, 1859. 



The following letter has been received from Baron Bentinck, in relation to 

 the assistance given to Dr. Bergsma at Kew Observatory : — 



" Netherlands Legation, 

 London, 10th September, 1859. 



" Baron Bentinck, Minister of the Netherlands, presents his compliments to 

 Major-General Edward Sabine, Vice-President of the Royal Society at Lon- 

 don, and has the honour to inform him that he has been requested by his 

 Government to express to Major-General E. Sabine the thanks of the Ne- 

 therlands Government for the kind assistance which he has granted to Dr. P. 

 A. Bergsma, when in London with a Government Mission ; and also to con- 

 vey to Major-General Sabine the hopes entertained by his Government that 

 he will in future time continue to aid Dr. Bergsma with his good advices. 

 Baron Bentinck avails himself of this opportunity to offer to Major-General 

 Sabine the assurances of his highest consideration. 



'•' Bentinck." 

 " Major- General E. Sabine, 



Vice-President of the Royal Society, 

 London." 



