The Gazette 1910-11

The Gazette of the Incorporated Law Society of Ireland.

DECEMBER, 1910]

163

malities had all been thrown aside by public companies, and that they should introduce a system of giving certificates to the holders of stock and should accept the ordinary transfer form. We as a profession know how very numerous the mistakes are in executing these perfectly unnecessary powers of attor ney. I only wish to call attention to the matter in the hope that the Government may see fit to devise a system better than the present, which is a hundred years too old (hear, hear). MR. GERALD BYRNE said :—I think it right on the present occasion, as I take a personal interest in the County Court pro cedure in Ireland, and being a member of the County Court Committee of the Incorporated Law Society and President of the Dublin Sessions Bar, that I should say a few words explaining the present position of affairs in regard to that procedure. A Bill was brought into Parliament early this year, called " The Civil Bill Courts Dublin Bill," by which it is proposed to give power to the rule-making authority for Dublin to make such alterations as they might think fit in the Civil Bill procedure, and when made, by simply publishing these in the Dublin Gazette, they would become law without any discussion or consideration whatever by persons interested. The proposal to hand over to any rule- making authority the making of laws was viewed with disfavour by the Incorporated Law Society, and their wisdom in disappro ving of it was marked by the introduction of a Bill which they brought in applicable to the entire of Ireland (Dublin included), clearly showing to the public, the Professions and the Judges the remedies proposed to be applied to the existing state of affairs. Owing to the valuable suggestions received by your Society from many persons, the printer had to make no less than 14 reprints of the Bill before it arrived at that stage in which it was presented to Parliament. Suggestions and recommen dations came from all quarters to your Council suggesting amendments and additions and further powers to be conferred on County Courts, it was no easy matter for the Com mittee who had charge of this Bill to deal with all these suggestions. However, they were at last enabled, by yielding a little to

the near future a realisation of the receipt of the purchase money for which they have been so long in a state of expectancy. I do not wish to be regarded as a pessimist, but I have grave doubts as to the prudence of waiting for many years on the all cash register in the hope of payment. I have not dealt so far with the position of landlords who ' have not as yet sold. They must, as a matter of course, come in under the 1909 Act; but to them I would say : You, too, should consider the position of public affairs, the difficulties of Treasury finance, the situation of those who have sold, and last, but not least, the possibility of less advantageous terms to those who hold out for better times ; and if I were asked to advise I would say : You had better sell now and take payment in 3 per cent. Stock with the guarantee of the Imperial Government. I trust that any observations which may be made to-day on this subject will really go to assist us as practitioners as to the advice we should give our clients, who naturally are looking to us for some light on the subject. MR. C. A. STANUELL :—It was not my intention to intervene in this debate to-day, but inasmuch as Mr. Fry has introduced the subject of the Land Act, there is a point to which I should like to refer. We know the procedure by which Land Stock depends upon the value of Consols, and I really do not think the public quite understand how unpopular the formalities are in connection with dealings in that Stock. All the com panies deal by post with transfers, and they receive certificates. But the Bank of Ireland gives no certificate, the Bank of England gives no certificate, and the formalities connected with the necessary power of attorney for personal attendance are more than those required in connection with the execution of a deed or will. Further, as the holder of Consols has no evidence of his title, it may be lost altogether. I think that these formalities cause a great depreciation in the value of Consols, and Consols are at present lower than they have been for a hundred years. I believe they are now touching 80—they were 79 on Friday. I think there should be some representation made to the Government that these for­