“I made a desperate blow at this offender. It did not take effect, from the expedition with which he retreated, and I had prudence enough to reflect that it would be better to recover my hat than to pursue the enemy. Turning round, I saw my unfortunate beaver, or ‘canister,’ as it was called by the gentry who had it in their keeping, bounding backwards and forwards between the Caledonian and his clan and the Jew and his tribe. “Covered with perspiration, foaming with rage, and almost expiring from heat and exhaustion, I at last succeeded. I did not dare to reinstate it, but was forced to grasp it with both hands, in order to save what remained of it. I baffled several desperate snatches, one of which carried away the lining, and was now trying to keep the enemy at bay, afraid again to attack the host opposed to me, but not knowing how to retreat, when a person who had not previously made himself conspicuous approached and interfered. ‘Really, you had better go out’; at the same time pointing to a door I had not seen before.” Comment is unnecessary; and, however the practice may be repudiated by the members when out of the house, there are few who would not, in it, act in a similar disreputable mode. The constitution of the Stock Exchange is simple. Governed by a committee of twenty-eight, with a chairman and deputy-chairman, annually elected by the members, their power to expel, suspend, or reprimand is absolute; their decision final; and that decision, adds one of the rules, “must be carried out forthwith.” In cases of expulsion, the committee should not consist of less than twelve; and of these, at least two thirds must concur in the sentence. No bill or discount broker, no clerk in any public or private establishment,—excepting those to the members of the Stock Exchange,—no one in business, either in his own name or in that of his wife, can be received as member. Every applicant must be recommended by three members of two years’ standing, who must each give security for £300 for two years. The committee meets every alternate Monday, at one o’clock; but a special meeting may at any time be called by the chairman and deputy-chairman, or by any five members. Brokers and jobbers, or dealers, as they are politely termed, are not allowed to enter into partnership; and, when a defaulter is excluded, his clerk is excluded with him. Directly the books are closed at the Bank of England, the price of stocks, excepting only bank stock, is quoted without the dividend. When a defaulter, or one who cannot or will not pay the just claims on him, is posted, a libel is avoided by the following words:—“Any person transacting business with A. B., is requested to communicate with C. D.”