The Express. — London, England, 1866-06-04 00:00:00

I it THE EXPRESS, MONDAY JOHN BROGDEN. RIGINAL GOLD CHAIN MANUFACTORY, , I 1 .1 16, HINDIMA-ISTILUT, COVINSOULDIN. JOHN BROGDEN'S 18-carst GOLD CHAINS. JOHN BROODEN'S GOLD GUARD CHAINS. - TORN BROODIEWEI GOLD ALBERT CHAIM. , • ``~H BROODMiI GOLD BROOCH CHAINS. TIIRTLX TURTLE, TURTLE. mar mod Invalid TURTLE 80UPS ohms rawly. a. JAIME- =mar-smart PIOCAIALY. 11111. DONALD. Proprietor. VWEST -END DINERS. —The WELLING IDIC, et. James's-street, Piccadilly. UAW Saloon Dining-room on the Ira floor. me subscription rooms ate now open. INirese, twelve months. LI 114 ed.; six months, el IL Aped; to D. 0131111011, 49, St. JameeLLtreet. LONDON must have a SUPPER and MUSIC 10011 toe Gentisteen.—Yeaserober, we wait for you et "WAYS," after the Coyest Garden Opals and the Theatres. gite erprefiL TO CORZWIPONDCMTIL Avertisameals Wended for "She lepreee," London livening erVmast be et the Moe, 10, Bouvertautreet, by Two ic on the da of publication. HAYMARKET. TED xvionvo. A ROMANTIC ATTACHMENT. Mr. W. Yarn% Mae Ada Cavendish, &c.—THE FAVORITE 01 Fos- TUNE Mama Raeketone, eldppendate, and Sotbern ; Mrs. adppraviale, in —And TL MING TIM TABLES. Mr. Compton. PRINCISSII. Tins VII2MIO, A LUCKY NlT.—Attar which LOUIS XI. Louis, Mr. Marlin Kam : Mardis, Mrs. Charles lE4:att.—To cowhide with ` Q UILT LODGING& BiarAintu. TRm EVVFING, RICH AND POOR. The Hungarian Dancers. BELPHYGOR, THE MOUNTEBANK. Mims Clara BS Caw, Yrs. S. Lane: Master E. Sanders, Mews. Bigwood, LBW. Blew, Re.—With TICE BLACK GONDOLA. HIGH WATER AT LONDON MIDGE t DAT —Morning, fik. Tim Afternoon, EL 60131. TO-MORKOW—Morning, Bh. Um Afternoon, LONDON, MONDAY, JUNE 4. ALTHOUGH confidence appears to be steadily re viving it is reviving very slowly. The severe shock to credit given by the events of the last month is not lightly got over. The difficulty has been the greater since, unlike the two last crises of 1847 and 1857, the banks have been chiefly in danger. Although the purely mercantile failures have been neither few nor unimportant, they have barely exceeded the average in what may be termed ordinarily bad times. The suspension of a pri vate merchant necessarily affects a comparatively small number of persona ; but when a bank stops, the inconvenience, discredit, and ruin extend over a wide area. Now that the crisis has fairly passed by, we can look back to the immediate consequences of the suspension of Ovrausen, Griller, and Co. with a certain amount of thankfulness, if not without terror. On that memorable Friday, which no one who witnessed it can ever forget, scarcely anyof the banks did not experience a run of more or less magnitude. It is impossible to overrate the danger that would have been caused by a spread of distrust, of which this ominous movement was the first indication. So powerful was the effect of the failure of but a single mone tary establishment, though that one truly enjoyed pre-eminent repute. Most fortunately the evil was nipped in the bud. Since that period of universal fear, two second-class banks have succumbed, chiefly from want of skilful management, and in one case it is averred from mere inadvertence, but the larger establishments have fortunately escaped all danger. This result may be mainly ascribed to the cou rage and ability with which the storm was met. It cannot be denied, however, that our banking system has in modern times become in some respects faulty. Draw backs' small in the commencement, but gradually becoming larger, have been allowed to creep in. The plan, for example, of taking deposits at call and short notice, and allowing a rate of interest but little below the terms for discounting three months' bills, is demonstrably wrong. The banker must, of course, use this money to b - ing him a profit, and to do so he is obliged to leave himself practically without any reserve. It may be said that the reserve lies in his paid-up capital, but this is a fallacious trust. Take a practical instance. A bank has 100,0001. paid-up capital, and 500,0001. deposits on which 4 per cent. is al lowed, the Bank rate of discount standing at 5. By lending out the whole of the 500,000!. of de posits, a profit is made of 5,0001. But that would be precisely the case if the 100,000/. capi tal alone had been lent out. In both opera time the gain is equal, but in the former the bank is liable for 500,0001., with 100,000/. lying idle to meet it ; in the latter it has no liabilities at all. We need say nothing of the difference in cost of carrying on the busi ness, the increased danger of bad debts in dealing with the larger sum, and other technical points. It is perfectly clear that in practice little or no reserve is kept to meet the deposits held at interest out of those deposits themselves. The whole, or nearly the whole of these sums must be lent out if the banker is to gain any profit, and thus a serious liability is incurred of having to meet demands which may be made in a week, with only resources in hand that will not mature for one, two, or even three months. It is impossible that so glaring a defect should not strike the experienced bank managers of the day, and to obviate it they adopted a practice which we suspect is not likely to be continued. They came to the conclusion that if a bank could not safely lend out its own means in direct discounts, it might do so indirectly by lending them to a dis count house. To repeat our previous illustration of the 500,0001. deposits and 100,000/. capital:— instead of keeping the latter amornt ready in band to meet current demands, the banker placed his capital at call, so that instead of obtaining a single return of 5,000/. on his deposits of 500,0001., he also obtained the usual 4 per cent. allowance from the discount house, or 4,000/. in addition. The calculation usually made was that if the banker, from unforeseen causes, required his money at a moment's notice, he could call it in at once, while at the same time he enjoyed a considerable profit by leaving it out as long as he conveniently could. Now, it is perfectly evident that, attractive as this plan seems to be, it is suitable only for fair weather times. Like the Bank Charter Act, its weakness is roughly exposed in the first moment of difficulty. It is then that a banker has most need of his reserve., and that he is obliged by the general pressure to get back from the discount house his deposit at calL But the discount house very probably finds itself unable to meet these demands in cask, although, as regards assets, it is more than solvent. While the banker has been employing the deposits of his customers, the discount house has been em ploying the deposits of the bankers. The slightest consideration of the subject will show what the eventual end must be. The chief repository for these sums this been the cash reserves of this vincial bankers, was Ovratawn Pressed upon all sides by essinkicies deb satisfy immediate liabilities whirl} they lad pulp prospective assets to mart, a -sespinaion cid Par ment was inevitable. The bankers now find that cash at call means nothing more nor lees than a short loan depending upon the solvency of the debtor, and is entirely distinct from cash in hand. This is by no means the first time that the dif ference has been pointed out, bat it has now the advantage of a positive illustration which cannot possibly be misunderstood. The bankers, who cal culated upon having no small portion of their ordinary reserve available on demand, thus find themselves suddenly transformed into the position of single creditors. In little more than a month's time the periodical accounts of the joint-stock banks will be submitted to their shareholders, and it will only be right that the plan of lumping money at call with the amount in hand and at the Bank of England should be discarded for good. The proper heading under which this item should figure would be that of loans and advances. We have no desire to condemn the system of business of a discount house generally. Under proper restrictions it can be almost as valuable to commerce as that of banking. The use of it has the advantages of economising the employment of capital ; the abuse leads to the indefinite locking up of resources which should at all times be im mediately available. A merchant or private per son may, and often does, find it well worth his while to deposit for a time a few thousands of pounds which can be productively applied until the necessity arises for the withdrawal of thesum. Such cases occur every day. Latterly, however, the system has been expanded into the holding of bankers' reserves, with what result we are now only too familiar. No possible objection can be found against a bank lending a part of its avail able cash to a discount house. It is simply a grant of credit to an establishment of undoubted soli dity. The fault, however, rests in making a loan of those sums which should properly remain in the bank's till. It has been shown that the pri mary cause of this practice lies in the allowance of interest on deposits except for fixed periods ; but this is a subject of too much importance to enter upon now. Whatever opinion may be formed upon the system, it is subsidiary to that we have immediately in view. A great crisis has passed, one exclusively threatening—at least, in the fiat instance—the position of our banking community. At a moment of supreme difficulty the failure of OVZHEND, GURNLY, and Co. de p ived them of the immediate command of re sources upon which they lied all along relied. The lesson is obvious, and not likely to be speedily forgotten. OUR CONTEMPORARIES. (THIB DAY.) Mr WORM BILL—Taz ILIFICIRD DIVISION TO-MIGHT. The Times reminds its readers that even if the government succeeds in defeating Captain Hayter's amend. meet there will still remain four.other amendments—some of them involving important principles—to be disposed of before the Reform Bill can be considered in detail, and once in committee, the subj►cts to be discussed are mul tiplied more than ever. No one, indeed, can glance at the order-book of the House of Commons without seeing the impossibility of carrying the bill this session. If it could be said that this flood of amendments were the device of factions opposition the ministry might be justi fied in persevering ; but the Times thinks no candid man can admit so much. The government itself is primarily responsible for the present block. In such a position there is only one step which can be taken consistently with the mutual respect which ought to exist between the House of Commons and the government. There ought to be no division to-night. The House of Commons cannot be expected to proceed with the bills. The govern ment could not retain office were Captain Hayter's amend ment carried. No one, however, could object to its being negatived without a division, supposing it to be under stood that the scheme of reform will be reconsidered with a pledge to reproduce it in an amended form next session. There is no use, says the Daily News, in cherishing any illusion upon the fact that in the division of to-night the existence of the government is at stake. The section of the Liberal party of which Lord Echo is the spokesman, are alarmed, and seek to induce the ministry to abandon the bill, but the Daily News has faith enough in the poli tical and personal honour of the leaders to feel confident that they will not think for a moment of entezing into so corrupt a bargain, and follow a course which would be to admit the justice of the censure conveyed in the ob noxious resolution. It would amount to an acknowledg ment that legislation during this session, which they have declared to be desirable, and even necessary, is impossible, or inexpedient; and to • condemnation of their ow .z scheme as inconvenient, inequitable, and immature, to a degree which renders it unfit to serve even as the basis of a satisfactory measure. The worst of culprits are not asked thus to criminate themselves. An adverse vote, therefore, will be attended with the usual consequences of a vote of want of confidence in the ministers of the crown. To the conservative opposition this will be a triumph, but the • " cave," which is anxious that the bill should be thrown out, and yet that the government should stay in, seeing the in evitable consequences of a government defeat, may well reconsider the position they have assumed. Lord Echo cannot be indifferent to the serious consequences which are sere to follow the accession of tones to office during the present critical state of Europe. According to the latest intelligence, one of two things seems inevitable—a great European war, commencing in Germany, or a great European revolution, commencing in Italy. No govern ment which could be formed, out of the materials at the disposal of Lord Derby or of Lord Stanley, is fit for a moment to confront a contingency of this sort. The Herald believes in the rumour that the government ere seeking to recall the Adnllamites by a promise that in return for their votes, should Captain Hayter's amend ment be rejected, the cabinet shall for a year at least post pone parliamentary reform. It is possible, though im probable, that the artifice may succeed ; but it is alto gather impossible that any set of statesmen in England could long continue, under such a tenure, to hold the reins el government. The Herald continues to assert that all the oratory, all the logic, and all the truth have been against the bill. If such a compact as the Herald alludes to has been made, the Poet thinks it difficult to my which party plays the more disgraceful part—those who, to save their plates, propose such terms, or those who, to save the government, are willing to accept them. That the bill must be with drawn is certain ; but let it be withdrawn manfully, bravely, and let the government meet the obloquy of having proposed so crude a measure. In the opinion of the Star the course of the government will probably be this—After the vote on the amendment, and supposing it favourable to the ministry, the govern ment will as soon as possible get into committee and go on with the franchise clauses. These once passed, the govern ment may not be unwilling to meet the wishes of the house in any course which may be considered convenient with re_ gird to the redistribution clauses, and to make any change s in the plan of grouping which might render it more prac tical and more acceptable to the constituencies without at the same time interfering with the principle of the ma ture. Unless the Star is greatly misinformed, the division to-night is likely to be much more favourable to the govern ment than that which took plain on Earl Groevenor's amendment. Without doubt, se the Telegraph views it, the decision to-night will be in favour of government. The majority, we may almost maim., will mach two figures, and will be amply sufficient to carry the measure, with the impetus of an acknowledged victory, into committee. THZ OBOTACLI TO TILL COI Dismisslig the rtipulaticets which Assitria has &demigod, the Time deloaribse them am amounting in =Wanes to this, that the Schleswig-Holstein question and the Italian quest* are not owsetillas at s 1 Imif ghat 41111 g qgilbeeel meg :one tide a*, that*, argefinedillatiself. But Ws *pot bumble -ground, ~eitheilki matted is meat wrikhitatter of gnst. MO W& *a herself callow -14441101 *the Duo** are deariglitriecen when the l*lstr kingdom as formed,* saw wig" every one else that that kingdom would day be water minous with Italian nationality between the Alps and the Adriatic. She ham acted on this conviction ever wino., and has not regarded Venetia as a province which is a natural or integral portion of her terri tory. Very recently she permitted it to be under stood that she would cede it for a compensation in kind. Under these circurnstanoes, Austria, though she may uphold her own right to Venice, cannot with justice maintain that the Venetian question is no question at all, and that it is not so much as open to discussion. Austria, by revoking the treaty of Osetein, and making Holstein ever to the Band, throws down the gauntlet to Pt ass* and by this challenge she at the game moment defies Italy to amuses. Bach a course looks like a plain expression al en equally plain policy—the policy of war. It would seem to mean that Austria expects more from a fight than a parley, and that she relies upon her military strength to obtain better terms from her adversaries than a con ference might give her. But such a policy would be both dangerous and inhuman. The Daily Neva interprets this last proceeding of Austria as signifying unquestionably her determination for ' immediate war ; and under the circumstances it seems hardly worth while to trouble a number of respectable gentlemen to leave their homes for the conference. The plan with which the imperial government is said to have re cently toyed with of constituting Venice " a free city" is futile and mischievous considered as a settlement of the qnestion. Any renunciation at all events accompanied by terms which would entail a union of Venetia with Italy would be a source of danger. The step which Austria has taken in Holstein is also inconsistent with the engagements of the imperial government with that of Prussia, and by thus rejecting the only apparent means of preserving peace Austria is again putting herself gratuitously in the wrong before Europe. The Deily News trusts it is not true, as is reported, that Austria is relying on an alliance with Russia. A league with the seal-barbarism of Eastern Europe to perpetuate barbarous arrangements in the West, would alter the character of the war, and could hardly fail to bring into the field powers which are at present little disposed to join in the *mullet. Without Russian inter ference it will be very difficult to circumscribe the war ; and we can hardly imagine a termination of it which shall give Austria reason to felicitate herself upon the course she has now taken. The Post instances the new turn which negotiations have taken as additional evidence in support of the view which it has expressed from the first that it was almost impossible for half a doom statesmen to arrange the affairs of Europe in such a meaner as to avert a conflict between the great German power, or between Austria and Italy. The Herald, the only journal in the daily press which advocates the Austrian cause in Italy as well as in Germany, looks now upon war as inevitable, and adds that, whichever begins, the war will nevertheless be a purely defensive one on the part of Austria. The Herald applauds the refusal of the Emperor of Austria to allow the question of Venetia to be discussed, and repre sents Italy as a garotter who is to be bought off by his in. tended victim. It is extremely indignant with the Times for turning round upon Austria and her Emperor, and for making that gallant and cruelly-tried sovereign responsible for war because he refused to purchase peace by dishonour and disasters worse than the most unsuccessful war can inflict upon him. The Telegraph thinks that though the chances of peace are slight they are not more so than they were a few days ago, and that the situation is practically unaffected by the declarations imputed to the government of Vienna, which more or less indicate the reserves accompanying its readi ness to take part in an international council. Id TOPICS. The Tema remarks that the erasure by the Lords of the clause of the new Capital Punishment Amendment Bill is by no means fatal to the principle of the measure. The difference is this, that instead of recognising two de pees of murder, the one capital and the other not capital, Lord Grey's proposal, which the house has adopted, reeog nine two degrees of manslaughter, the one aggravated and the other comparatively venial. At the same time the mere nomenclature of our criminal law is no trivial matter, and there is • good deal in Lord Grey's objection that the word " murder" was to be applied bylaw to crimes which had ceased to be capital. Among other points in the bill which ought to be ma turely oonsidered, the Times especially mentions the pro vision that "express malice aforethought " should be found by the jury as a matter of fact, the effect of which would be to cast upon a jury the painful duty of going, as it were, out of their way to find • verdict which must be followed by • sentence of death. The Herald agreed' with Earl Grey and Lord Romilly, that it would be • dangerous precedent to admit in plain terms, and with the deliberate sanction of legislative enactment, that there may be murder which is no murder or rather which being murder shall not meet, and does not deserve, murder's punishment. The creation of a crim e of aggravated or criminal manslaughter will go far to attach to this now too lightly thought of phrase its proper weight and significance. The St or expects that the disaster at Callao will not dia. pose the Cabinet of Madrid to consider any terms of peace, and meanwhile her dangers are increasing, for the quad ruple alliance which has been formed against her may pos. sibly lead to the loss of Venezuela. If the allies can carry the war there they will light a flame which will take many admirals and fleets to quench, and added to this is the possibility that the South American patriots may make an attack on Cuba. When slavery died its hard death in the United States, everyone foresaw that the existence of that institution was doomed in Cuba ; but it was impossible to tell from what quarter Nemesis would come. If the blow should be struck by a gallant race which, after having once achieved its own freedom against terrible odds, is now again threatened with sub jugation by the old tyrant, the retribution would be as just a one as Heaven ever inflicted upon • perverse and =teachable nation. Eta frourt. CLIVEDEN, Jinn 2. The Queen, accompanied by Princess Helena, went out yesterday. Princess Louise drove out, attended by Miss Bowater. Princess Beatrice went out driving, attended by Mdlle. Novelle. Jima 3. The Queen, accompanied by Primes, Helena, sad attended by the Duchess Dowager of Atbole, drove oat yesterday afternoon. Princess Louise drove out, attended by Miss Bowater. The Queen, Princess Helena, Princess Louise, and Prince Leopold, attended Divine Service this morning, the house hold being also present. The Rev. C. Kingsley, chaplain to her Majesty, officiated. A Cabinet Council was held on Saturday at the official residence of the First Lord of the Treasury, in Downing-street. The ministers present were Earl Russell, the Lord Chancellor, Earl Gran ville, the Duke of irgyll, Sir George Grey, the Earl of Clarendon, the Right Hon. Edward Cardwell, Earl de Grey, the Marquis of Har tington, the Chancellor of the Exchequer, the Duke of Somerset, the Right Hon. T. Milner Gibson, Lord Stanley of Alderley, the Right Hon. G. J. Goschen, and the Right Hon. C. P. Villiers. Despatches were sent on Saturday from the Colonial office to the Governors of Gibraltar, Malta, Ceylon, Hong Kong, labuan, Canada, and the Bahamas. Her Majesty is expected to return from Cliefden Howie to Windsor Castle to-morrow or on Wednesday. The Prince and Princess of Wales are expected to leave the seat of Lord and Lady Annaly to-day for town. The Earl and Countess of Cork have issued cards fora grand dinner on the Bth inst., to meet his Royal Highness the Duke of Cambridge. His Royal Highness Prince Augustus of Saxe Coburg, her Imperial Highness Princess Leopoldina of Brasil, with the Infant Prince Don Pedro, and attended by their Excellencies the Chevalier and Madame Machado Coelho de Castro and Senator Caadido Borges tifonteiro, left the Clarendon Hotel yesterday morning for Richmond for a few days. NING, JUNE M INTELIAG TEllk C9IIIIfIRESB AND *2 The hoping peace, to which the conVass glie rise, have materia l an. within the last 48 hours, and the outbreak oi l seems to be more imminent than ever. The pro posal of Austria to convene the estates of Holstein to decide on question of the Duchy is regarded in Berlin as a provocative to hostilities, and a ministerial journal of that capital says that it amounts to a de claration of war. The conditions which Austria pro poses as preliminary to her appearing at the oon ferenoe will have to be referred to the mediating powers, and will necessitate a further delay in the assembling of a conference. In the meantime the preparations for an extensive war are being con tinued on all sides. The Italian journals are full of official orders respecting the calling out of a squadron of guides, two battalions of carbineers, and twenty new battalions of volunteers. It is announced that the number of volunteers who have presented themselves for en rolment to amount to 95,000. Some idea of the feeling which permeates the Italians in the present crisis of the nation may be formed from the fact that 250 Italian volunteers arrived from Egypt, and presented ,themselves for enrolment at the depots of Como and Varese. Typhus is said to have broken out in the Italian army at the frontier, and the nation is becoming impatient under the tension in which it is held. Troops are being forwarded every day to the army of the Po and Peschiers, the headquarters of the army is swarming with soldiers. A train containing 100,000 bullets for the corps of Cialdini has been forwarded, and orders have been given for an immediate supply of 500,000 pair of boots. With respect to the Prussian army the Coiner Zeitung says : The mobilisation of the army is completed. In a few days the organisation of the army of operations will also be completed, when we shall have have 4521 battalions of infantry, 321 squadrons of cavalry, 1,086 field piens, 72 companies of fortress artillery, nine battalions of pioneers, to., all ready for action. This is the largest army that ever Prussia set on foot. A despatch from Munich announces that the Bavarian government has ordered a further in crease of the army by 18,610 men, to be completed by the 2nd of July. The Petit Moniteur announces that a Bavarian corps has been concentrated under the walls of Landau—a few leagues distance from the French frontier of the Meurthe and Moselle. The Alsatian reports that the government of the Grand Duchy of Baden has ordered the whole of its contingent to be placed on a war footing. According to the Austrian Military Gazette the Austrian army now amounts to 800,000 men. The army of operations will consist of 600,000, of whom 350,000 will oppose the Prussians and 250,000 the Italians. The Vienna Gazette of May 80 contains the text of the imperial decree relative to the forced loan in Venetia. The loan is thus apportioned :—Venioe, 1,273,000 florins ; Verona, 1,862,000 ; Udine, 1,321,000 ; Padua, 1,830,000 ; Vicenrs, 1,841,000 ; Treviso, 1,328,000 ; Rovigo, 1,039,000 ; Belluno, 308,000 ; Mantua, 1,198,000. Each province is authorised to apportion its contribution among the different communes. (arum% 71:LEGRAMB.) THE PROPOSED CONFERENOE. PARIS, Jinn 4. The Muniteur of this morning confirms the news that the Austrian replies to the proposals for a conference contain reservations which must be ex amined before the meeting of the plenipotentiaries. " The negotiations " adds the official journal, " to which these reservations will give rise, will necessarily retard for a few days the proposed meeting of the conference." The Constitution/id of this morning says : " The despatches received from Vienna seem to render extremely difficult the solution of the questions which agitate Europe. The Austrian cabinet accepts the conference, but only on condi tion that all the powers represented shall under take to demand no modification of frontier and no territorial aggrandisement." BERLIN, Jul 4. Should the conference assemble, Pnueia will send a representative, whatever may be the final resolution of the Austrian government. Bavaria advises Austria to accept the conference unconditionally. The visit of Count Blome to Vienna is connected with this advice. FLORENCE, JUNII 4. The Florence journals consider that a restricted congress might usefully assemble, even should the declarations of Austria render the presence of Austrian plenipotentiaries impossible. The pleni potentiaries of the other powers might agree to place on record the difficulties raised by Austria and consult upon the course to be pursued in consequence. AUSTRIA. VIENNA, Jtlit 4. According to the Vienna papers of to-day Prussia will declare that the Federal Diet is incompetent to accede to the Austrian proposal in reference to Schleswig-Holstein, and will summon Austria to abandon her intention of taking the steps announced by her in the last sitting of the Diet. Prussia, moreover, is said to have resolved to look upon non-compliance with this summons as a emus belli. HESSE CASSEL. CASSEL, JONI 4. The estates have been convoked for the 11th instant. OUTWARD INDIA AND CHINA MAILS. SOUTHAMPTON, JrN& 4. The Peninsular and Oriental Company's steamer Ripon, sailing to-day, takes out 2,6281. in sove reigns and half sovereigns for Madras, 500 sove reigns for Galle, and 2,8801. in dole. for China. INDIA AND CHINA MAILS. MARSEILLES, Rota 4. The Menageries Imperiales steamer Pelase, with the above mails, arrived here at 1 cm. to-day. THE CAPE OF GOOD HOPE. PLYMOUTH, Jots 4. The Union Company's Cape mail steamship Anglian arrived here this morning, from the Cape on April 21 ; St. Helena, May 1 ; St. Vincent, Msy 18. She brings a small mail, 33 pas sengers, and 94 military invalids, 23 time-expired men, 14 women, 18 children, in charge of Lieutenant Maria, and Dr. Tait, staff assistant surgeon ; also a general cargo. The Anglian's Cape news is four days later than that brought by the last mail steamer. The settle ment of the Basuto war is further confirmed. The Free State President had returned toßloemfontein, where there had been great rejoicings. The Free IState authorities had taken early measures to • 77 1 . . .w - tterritory acquired from the " , .• • ' toe y treaty of peace. The Ibilkorisn elections were completed. The -turns bad ben plotted and British Kaffraria 'had become jp &ftral portion of the Cape eolony. 4 "4e Another lie had occurred in Cape Town. Mr. Willemburg's store was burnt and Mr. Dillman'a partially so. The barque Prince of the Seas, from London for Algos Bay, went ashore, near Ceps Receive, on the 17th of April. The captain and four men Aare saved, but seven of the crew were drowned. Large quantities of gold are reported to have been discovered in the vicinity of the Crocodile River, in the TransvaaL (11.orsa'a muss.) THE STATE OF POLAND. BERLIN, Jugs 2. Notice has been received from Russia that symp toms are visible of renewed agitation upon the part of Austria in the non-Austrian portions of Poland. This circumstance will give rise to an increased concentration of Russian troops upon the Austro , Polish frontiers. Austrian agitators are also occupied in the Grand Duchy of Posen. The presence of Prince Curtoryski in this capital, and his intercourse with many influential Polish nobles, is therefore viewed with great distrust. LAW INTELLIGENCE. (THIS DAY.) • COURT OF QUEEN'S BENCH. Sittings in Banco.—(Before the Lord Chief Justice and Justices Blackburn, Mellor, and Mee.) PAU C. ELLII.—LIIIIIL. This was an action for libel against the Daily Pekin:ph upon Edwin Parr, the celebrated trainer. It was tried on Friday last in the Bail Court before Mr. Judie: Lush, when the jury negatived the inuendo that the article imputed fraud, but found that the article was libelous, as itimputed incompetence end negligence, and upon that they returned a verdict for the plaintiff, damages 40e. The learned judge then directed a verdict for the defen dant with leave to the plaintiff to move the court to a mend the declaration by striking out the inuendo or to enter a verdict non abstante veicto. Mr. Huddleaton, Q.C„ accordingly moved for a rule. He said the libel was a serious reflection upon the plaintiff, who was a trainer of race homes, end the libel complained of was published in the Daily Telegraphacal WAS contained in Hotis letter, which was headed " Turf Topics and Derby Cracks." The objectionable part that letter was as follows :—Sedan is a horse whose merit has not been properly appreciated by either the public or the backers of horses. He is undoubtedly one of the most compact, and neatest, and racing-like Derby Dolts we sa w o ut all last meson. Every inch a stayer to look at, and sure to be there or thereabouts on the Dar b y Day, if he does well through the winter months. During the summer he ran with varied success, but there is more than a sus picion that he was never half trained, and that Parr's pills and Teiscombe cookery had prevented Lord St. Vincent from landing several handsome stakes. Nevertheless Bed" when only just coming into his proper form at Dcecaeter ran a great horse with Lord Lyon, and ft was urged that he would have snatched that rue out of the fire bad a man been on his beck instead of a fashionable light weight. The inuendo alleged fraud, but the defendant pleaded, first, not guilty ; and, swab', that the words did not bear the meaning imputed to them in the inuendo, and therefore he asked the court to amend the declaration by striking out, under the Common Law Procedure Act, the inuendo from the declaration. Mr. Justice Blackburn—So as to give you costs. That we cannot do. We have power to amend where there is an error or a mistake, but here you ask us to strike out what has been deliberately pat into the declaration. You thought proper to go to the jury on the grosser charge, and, the verdict being against you, you now ask us to do what we have no power to comply with. Mr. Huddleaton—The jury have found that no fraud was charged against the plaintiff, but in consequence of the manner of feeding Lord St. Vincent lost many stakes. Mr. Justice Blackburn—You are entitled to your judg ment non obstante veredicto and your 40a., but as that will leave you no octets, the costs of this rule will be much greater, and, therefore, is it worth your while to take the ra'e ? Mr. Huddleston then applied for a rule, on the ground that the verdict was against evidence. The court, however, declined to interfere, other than to enter the judgment non obetante veredicto, the Lord Chief Justice observing, that if he had been on the jury he should have put a construction on the libel the same aa contained in the inuendo, but as it was a matter purely for the jury, and there being no conflict of testimony, the court did not consider themselves justified in interfering with the verdict. COURT OF COMMON PLEAS. Sittings biis uco.—(Befors Lord Chief Justice Erie and Justices Wales, Keating, and Smith.) DYFIPILLL AND ANOTlign V. WHITE. This case arose out of the following circumstances : Rome time ago the Opera Company (Limited) was estab lished, and took a lease of Covent Garden Theatre from Mr. Gye, and for two winters played English Opera and pantomime there. Early in 1865 they borrowed 5,000/. upon debentures, and on the 23rd of January in that year they gave a bill of sale of their " properties" to Messrs. Deff ell and Metzer, the plaintiffs, as trustees, to hold for the security of the debenture creditors. In 1 February the things named in the bill of sale were removed from the theatre to Banbury-oourt, and a few days afterwards the defendant seized them under a tier/ facies. The question now raised on interpleader issue was whether the plaintiffs were entitled to hold the goods as against the execution creditor; and at the trial a few days ago a verdict was en tered for the defendant, subject to the opinion of the court upon some points of law. Mr. Denman, Q.C., now ;pored for a rule to enter a vet.- ' diet for the plaintiffs. He said that the defendant ob jected at the trial that the bill of sale was not valid, buse the affidavit of its execution did not state the name and address of the attesting witness as pursuant to the statute, but he submitted that this objection was not well founded. He further contended that the goods were not at the time of the seizure in the " apparent pos- session" of the company, and therefore the Bills of Sale Act did not apply. Rule granted. CVURT OF BANKRUPTCY. (Before Mr. Commissioner Goalburn.) IN RN O'ROURKE, OTHERWISE TALCONER.-RELEADIL The bankrupt, Edmund O'Rourke, better known as Mr. Falconer, one of the lessees of Drury-lane Theatre, renewed his application for release from custody which had been ordered to stand over until a week after the choice of Sail- MSS. . . . Mr. Bagley, in supporting the application, stated that the bankrupt had been in custody since the 27th of February, for debts which were jointly due from himself and his partner, Mr. Chatterton. Of five detaining eze ditors, three had released the bankrupt, and one had proved his debt ; the only detainer now in force was one at the suit of a person named Daniel Pratt, a creditor on three judgments for 310 f. Mr. Lewis, for the assignees, took the objection that no hour was named in the notice of application, nor had any order of the court been made for the bankrupt to renew his application. Has Honour thought there was nothing in the objec tions ; the notice was quite sufficient. Mr. Lewis said that an order bad been made allowing the bankrupt to amend his three days' statement ; and he arab mated that the release ought not to be granted until this had been done. The amendments might disclose quite a new state of facts, such as would prevent the court from granting the release. Mr. Bagley contended that the proposed alterations would not affect the question of release. His Honour doubted whether the peeper course had been pursued in asking for leave to amend the state ment. It would have been better to have asked for enlarged time to file the account in the first instance. He doubted whether the release could be granted until the amended statement wait filed. The assignees ought to have time to consider that account. Was the bankrupt prepared to find bail? Mr. Bagley — Yes, to any amount. The Commissioner—Then let him be released on entering . - into his own recognisance fro 1601., and lading two sure ties in 1001. each, with twenty-four boors' mottos of bail. The amended statement, which has been prepared, shows the debts to be 7,4161. LORD MAYOR'S COURT. (Before the Recorder and a Special Jury.) The leaned Recorder at for the first time to hear emu pensation cases since his return from Janeiro on his ape- alai oommiuien. THE IRONMONGERS' COMPANY O. TIER CORPORATION OP LON• DON.-THE HOLBORN TALIAT lIIPROVIIIINTS.-NRAVY CLLIW TOR 0011P1MATION. Thar was a eo;;peoss ---- ii;;olsiss made by the Master and Wardens of the ' art and mystery " of the Irosonongsrs' Company, in resappect of houses, Nos. 52 and 53, ISlda nor-street, Snow.hill, and others at the back, in Iron loomPre•builainr, near St Sepulchre Church, required for the Holborn-valley improvements. Tbs claim amounted to 12,1105i...5ad was opposed on the part of the corporation. Kr. Price, Q.C., and Mr. Horses Lloyd appeared far the claimants ; Mr. Hawkins, Q.C., and the Han. W. Theniesr fee the City at Wader& The parries consulted, and the jury w ee el Ur. Prins informed his lordship &se h e troubled with the ease, both sides ha vMe ee , meat. He was for the Ironmongers' ao mi learned friend Mr. .Hawkins, who was a t visible," not appearing in proper costume a verdict for 9,625/., end the jury mad amount. The Reoorder—Though Mr. Hawkins is may bear his voice. (A laugh.) Mr. Hawkins mid be mosented to • wadi F The Reeorder—Then I imppose th e j ery The jury at once asmased the moat 8,6251., sad wee saved a long inquiry. MIDDLESEX SESSIO (TIM DAY.) The June geseral quarter seseions of th corms commenced this Westminster, before fir. M t 7rg7iNi oin the following justices :-ILr. B. Jervis, Mr. Loveland, Mr. Stritfield, sad 1 (Before the Amiatant Judge, THE GRAND JURY. On the read jury being swore, Judge said he should . only occupy t • minute is &alumni them, as t were well aware of the duties the form. Thep had merely to ascertain w facie case of suspicion wee made out spina that they might do without going through in some cases. At the same time they w out any bill until they had examined the neon on the back of it. He did not thin' cases would present any difficulty, as the had previoualy undergone a preliminary e police magistrate, but if they required should be most happy to render it. The grand jury they retired. THE CALENDAR. As the lad sessions only terminated on the calendar s light, there being only 41 witted for trial-37 indicted for felony, demeanour. _ TUB BRUTAL ABBAULT BY rwo PM At a former eessiona of this court, two diviaion, named Beard and Taylor, on the other a constable, pleaded guilty to Mr. Angelinetti, an Italian gentleman, wl part in getting up a memorial in favour a he was sentenced to be hanged. On the prisoners being placed M the be Mr. Beeley, in answer to the Antietam each of the prieoners had paid about 12 minion fund, for which they had receive which would be lost to them. The AasistentJudge (addressing the This is a use which has given us a great d much anxiety, and while this court is at to throw round the police its protection the execution of their duty, at the semi them exceed their duty, it is our I the public against any violent protect that you will lose your co superannuation fund, and that will i ei ration, as well u the extraordial ter you have borne for a number of also had • memorial signed by almost a inhabitants of the neighbourhood in yet shall give effect to it. It is quite possit have thought when you went into the pi purpose of performing a proper duty en, sons there after the rem hours, that i one of those =pod in the disturbance ; of the wont at characters you would not in treating him in this way. There is suggestion that you were in liquor at t that might explain, but could not just It therefore becomes my duty to pan a which I do after great and painful denim into account everything that has been et The sentence on you, Beard, is that you kept to hard labour for six mouths, and that fine to be given to the prosecutor who were to • oertaia extent acting mid imprisoned and kept to hard labour for (Before Joseph Payne, Esq., Deputy , The several gentlemen summoned traverse-jury having been sworn by ' the crier of the court, ! The court congratulated them upon t ' calendar. Joses Hill, 25, was indicted am stealing • leg of mutton, value 55., the Wincoll. Mr. G. S. Griffiths prosecuted. ! Mr. Payne deferred passing sentena SURREY SESSIC (THIS DAY.) The June sections for the county of this morning at the Court-house, Emir fore Thos. Talon, Esq., deputy chainn W. Hardman, lion. W. Brodrick, H. Colonel M`Donald. The calendar as for trial-38 fee felony and 10 for mild are nine or ten others out on bail, what pair on the calendar. The degree follows : Seven could neither read n only read, 35 could read and three could read and write well, and c a superior education. The analysis of the following. There are eleven p larceny; seven stealing from the robbing masters ; two stealing a hors: housebreaking ; two for embezzlement rape; one for obtaining goods by We having in his possession housebreakin for malicious assaults ; one for aban four for wounding and doing actual bo • DWELLS% OP CHINE LY THI --• • • The lesr;ed Chai;man addres complimented them as to the lighto There are only 48 prisoners comprised i with 67 cases tried at this time last at the same time, did not appear of t he, however, had a list before him, i the persons committed for trial were c than ten having been convicted six ti nested penal servitude, and others hat victed between two and three times. Ma witted for paltry robberies, anti the of opinion that the magistrates shout of them. Such a course would not do, put a stop to by sentencing them to a servitude, which could only be done at ing made some remarks as to the natty dismissed them to their room. The grand jury then retired. HOESZET Or • WATCH ON THE James Corrals, V, described in the matical instrument maker, was iodic watch from the person of William Ja: The prosecutor said that on the even he proceeded towards Clapham-commi come home from the races. There crowd outside the Plough Public-how road, and while forcing his way throw go sad on looking down saw it in Witmer seised hold of him, and saw h fellow, who made his escape. He, he of the prisoner until • constable can given Into his custody. The watch hi The jury found the prisoner Guilty The Deputy-Chairman sentenced h hard labour. CONVICTION OT AN OLD 01 Henry Bailey pleaded guilty to etas articles, the property of Mglies Grow Several former convictions were pro the court sentenced the prisoner to s vitude. THE POLICE CC (THIS DAY.) XABLBOROUGH•ST DisoaecsreL o►re: A tall, well-drZea ---- mrai, who re address, was charged before Mr. Tyi indecent photo gra phs in the Alhamin Sergeant William Clark, 8 A, said about half-past 11, I was on duty in whea my attention was called to tl informed was exposing indecent phot the prisoner, and saw him show som gentleman sitting at the side of hi prisoner saw me he left the young called the attention of one of the ow to the prisoner, and requested hint tc gentleman. I then stopped the priu the buil dim ,, and asked him what he said, "N oth ing." I told him that I indoor/at prints about him, and he sai not. I then turned round to look for the prisoner bad been speaking to, al prisoner evaded me, and ran to one threw something out. I sent • cow was, and he afterwards banded me ta pocketbook contained 32 indeoent ph prisoner's coat pocket another pant took the prisoner to the station. (The photographs, which are of • to ter, were handed to the magistrate.) John Sutton (employed at the Al similar evidence to the Berg spoken to by the sergeant and aim tlemen who said the prisoner had b decent prints. I afterwards saw the thing out of his pocket and throw it c the constable return with • pocketda .arga t. tle prisoner—The two young names at the station, but not the one the prisoner, bat the sergeant thinks Yr. Tyrwhitt—Did the young gent prisoner.