HC Deb 20 March 1867 vol 186 c267

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. LEEMAN

moved 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. FILDES

said, the Amendment would prevent any business being done by telegraph.

MR. LEEMAN

answered that a man could make his bargain by telegraph, and the message would be followed by a letter with the token next morning.

MR. TURNER

said, 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-MARTIN

said, the numbers of the shares could be sent by telegraph.

MR. TURNER

replied that the numbers would make the message too expensive, and stop sales in that way.

MR. LEEMAN

insisted 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.