20 MAY 1899, Page 16

PEP irS ON COMPANY-PROMOTING.

[To THE EDITOR OF THE "SPECTATOR.") SIE,—There is nothing new under the sun, not even the comr w.ny-promoting Peer. Under date of October 3rd, 1660, Mr. Pepys writes:—" This day I heard the Duke speak of a great design that he and my Lord of Pembroke have, and a great many others, of sending a venture to some parts of Africa to dig for gold ore there. They intend to admit as many as will venture their money, and to make themselves a company. £250 is the lowest share for every man." Apparently the Duke of York is referred to ; if so, it seems that the venture of money in digging for gold ore appealed to the imagination of the highest then, not less than now.—I am, Sir, &c., 207 Piccadilly, W., May 17th. REGINALD LDCAS.