THE COMMON COUNCIL AND THE CENTENARY OF ST. JOHN. It is almost unnecessary to direct attention to the report of the proceedings of the Council, yesterday, with regard to the centenary celebration of the landing of the Loyalists. It will be seen that they have rescinded their former resolutions with reference to the building of a Memorial Hall, and have started with a new programme, which they recommend to the attention of our citizens. Of course, it is open for private parties to carry out the idea of a Memorial Hall, but the Council seem to think it too large an enterprise for them to undertake on the scale originally proposed. The Council gave permission, yesterday, to erect a monument in commemoration of the Loyalists, after plans to be approved by them, on the site of the old bell tower at the head of King street, the most commanding position in the city. A monument on such a fine site would be a most striking object and would have a fine effect, besides speaking eloquently of the founders of our city. It appears that a granite obelisk one hundred feet high can be erected for less than $7,000, which is not a large sum and could, no doubt, be easily obtained. It is to be hoped that whatever is to be done to commemorate the centenary of the Loyalists will be put in train at once, for there is no time to be lost, either in regard to that or the Industrial Exhibition, which will form a most important part of the Centenary celebration.