It was called Derry in ancient times until King James I., in 1612, for money advanced him by the guilds of the city of London when he was hard up, gave them an area of two hundred thousand acres, confiscated from the O'Dohertys and the O'Neills for disloyalty. The grant includes every inch of land upon which Londonderry stands, "and the liberties thereof," which means jurisdiction over everything within a radius of two miles around. The aldermen of the city of London, that small but wealthy community which surrounds the Bank of England and the Mansion House in the world's metropolis, formed what is known as the Honorable Irish Society, composed of representatives of the different guilds, to hold the charter, and they hold it still. The aldermen of the city of London elect the governor of the society, who is now Sir Robert Newton, lord mayor of London, and the deputy governor, who is now a Mr. Gardiner, a resident of Londonderry, as is customary. The lord mayor's functions are nominal. The deputy governor exercises full authority, assisted by a council of twenty-four members, selected from among the most prominent residents. The municipal expenses are paid by the ordinary forms of taxation and the government is conducted like that of any other city in Ireland, but the Honorable Irish Society collects ground rent from every house within a radius of two miles. It also owns the fisheries in the River Foyle. The money is not devoted to the payment of ordinary municipal expenses, but goes into the treasury of the society in London, and a portion of it is devoted to public objects here. Magee College, the Presbyterian institution, receives a generous grant. Foyle College, a nonconformist institution, and the Roman Catholic college, each gets something, and liberal subscriptions are made for the benefit of hospitals and other charities and the churches of the city. The Irish Society was purely Protestant at the time of its organization, and is Protestant still, but it is impartial in its contributions to the different religious sects. There are two cathedrals, two bishops, one Roman Catholic, and one Church of Ireland, and the latter holds the ancient cathedral which, with an abbey, was founded by St. Columba in the year 546 and still is called by his name. In the pedestal of a group of statuary, known as "the Calvary," at St. Columba's Roman Catholic Church, is a famous relic known as St. Columba's stone, although his name is a misnomer. It is a massive block of gneiss, about six feet square, made with the prints of two feet, left and right, each about ten inches long.