Much conjecture continues to be exercised in the City about
the movements of the Bank Directors, and as to their supposed investments in the Funds. The general conclusion is, that they had determined on, if they had not actually commenced, such an operation ; but an awkward rumour is current, of their having suspended it in consequence of a sudden rise, brought about by the purchases of some party or other, who, having been consulted on this question, took advantage of that knowledge by coming before them into the market. That this party should be a member of their own body, which some of the rumours on that subject go on to affirm, is not to be credited. All that can be stated with any certainty is, that the purchases are suspended on ac- count of the rise that has taken place. Besides the money of the India Company, of which the Bank have assumed the disposal, they are said to want some investment for the payments on their ten years' annuity from the Government, in which they placed, at the renewal of the Charter, that portion of the debt to the Government which was then paid off. Altogether, the unemployed capital from these two sources must amount to a very considerable sum ; and it is natural that the mere anticipation of it acting on a market which has very little stock afloat, should produce a considerable effect on its value. Some angry discus- sions are said to have taken place to-day in the Psalc parlour, upon the supposed betrayal of confidence which the rumours have alluded to; and it is to be expected, therefore, so great is the indignation mani- fested by some parties, that the public may possibly be enlightened as to the name of the real delinquent on this occasion. This is a con- tingency, however, inseparable from so numerous a direction as that of
the Bank ; and the offence, from its very nature, will escape detection
nine times for once that it is found out. It is no scandal to say, be- cause the fact is notorious, that Bank Directors have occasionally turned their own official information to their private benefit ; and per- haps the offence is not lessened when they deceive each other only, and do not deceive the public into the bargain.— Times City Article of Thursday.
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