§ Bill considered in Committee.
§ (In the Committee.)
§ Clause 1 (Contracts for Sale, &c., of Shares to be void unless the Numbers by which such Shares are distinguished are set forth in the Contract).
§ MR. LEEMANmoved the insertion of other words in the same clause, requiring that the numbers of the shares sold should be designated in writing or printing in the token or contract of sale.
§ Amendment proposed, in line 19, after the word "designate," to insert the words "in writing."—(Mr. Leeman.)
§ MR. FILDESsaid, the Amendment would prevent any business being done by telegraph.
§ MR. LEEMANanswered that a man could make his bargain by telegraph, and the message would be followed by a letter with the token next morning.
§ MR. TURNERsaid, the offence which it was proposed to create by the Bill would be completed on the moment the telegraph was acknowledged, and the parties concerned would be liable to punishment.
§ MR. C. WYKEHAM-MARTINsaid, the numbers of the shares could be sent by telegraph.
§ MR. TURNERreplied that the numbers would make the message too expensive, and stop sales in that way.
§ MR. LEEMANinsisted that agreement by telegraph did not constitute a contract, and that therefore the offence contemplated could not be committed by telegraph.
§ Question put, "That those words be there inserted."
§ The Committee divided:—Ayes 109; Noes 20: Majority 89.
§ House resumed.
§ Committee report Progress; to sit again upon Tuesday next.
§ House adjourned at five minutes before Six o'clock.