Three years before, Lord Clive had left England, immediately after gaining a victory over Mr. Sulivan and his party. But as that gentleman had long managed the Company's affairs, was widely connected, and still retained many friends, the new Directors had by no means an easy part to act. For the first year, Mr. Sulivan's interest continued to be so strong among the Directors, that Mr. Rous, the new Chairman, sometimes found it difficult even to muster a sufficient number to sign his ordinary letters. In the election of 1765, Mr. Boulton was chosen Chairman; and the stability of the party in office seeming to increase, considerable defection, as is usual in such cases, took place from the ranks of their opponents. They also carried the election in the following year (1766) completely, when Mr. Dudley was elected Chairman. Still, however, the party of Sulivan continued to be strong; and when Lord Chatham's ministry was formed, in July, 1766, Sulivan was understood to be favoured by them, through the interest of Lord Shelburne, who was his friend. We have seen the alarming aspect of the Company's affairs, when Clive was induced[132] to forego the comforts of home, and once more to visit Bengal, for the purpose of retrieving them. He had not been long absent when the drooping hopes of the Proprietors having revived, they demanded an increase of the dividend. Clive, ever sanguine, was of opinion that they ought to have been indulged; but the difficulties were considerable. "Believe the word of a Director," says Mr. Scrafton, writing[133] to him, before the news of his great success had reached England; "Believe the word of a Director, that the Company must have many lacs, before they can increase their dividend. Consider, my Lord, what a vast sum of their capital has been locked up without interest in Mahommed Ali's debt, the vast fortifications, the fatal Manilla expedition, and the sum locked up in the support of French prisoners, for which no instalments are yet settled, all form prodigious deductions, which a year's revenue of the whole province of Bengal will barely replace; not to mention the dreadful breach in the Company's capital before the battle of Plassey." And Mr. Dudley, at a still later period, acknowledges[134] that the Company had contracted several hundred thousand pounds of debt at home during the war, for which demands were urgent. But when the news reached England of the re-establishment of the Company's affairs, and of the great advantages that had been gained for them by the various treaties concluded by Clive, the joy of the Proprietors was extreme; the price of stock rose, and there was a general and more clamorous demand for an increase of dividend. During the war in India, it had been reduced from 8 to 6 per cent. The more prosperous state of affairs seemed now to justify a considerable increase.