The Press. — London, England, 1857-05-16 00:00:00

484 3 rtlanE Mn. JAMES SADLEIR has written a letter from Paris, in reply to a recent letter of Mr. Scully upon the Tipperary Bank. Mr. Sadleir says : I never owJil the bank or any bank a shilling, but always had a considerable sum to my credit in the Tipperary Joint-stock Bank, and during the run 3,0001. due to me, which I might have drawn out, or even after Mr. John Sadleir's death. I never had any connection, directly or indirectly, with any one of the numerous speculations Mr. John Sadleir appears to have been mixed up in, or any other speculation. Front the moment I discovered in London, late in 1835, the extent of the land transactions he was mixed up in, and railways in England, France, Germany, Sweden, Switzerland, and Italy, I denounced him in the strongest language I could for having allowed himself under any circumstances to be engaged in so many undertakings, though I had the strongest assurance from himself and some of his friends that large and im mediate payments were to come to him from each under taking; and I have got the sums, in a return given to me, that were to come from each. From nil the information could collect a short time before his death, from himself and some of his friends, I was fully satisfied the worst was over, and that he was fast getting out of the temporary difficulties he had got into, and that he would have a con siderable surplus after paying all debts that I had any knowledge of. I beg to state I never hail anything to say to Mr. Vin cent Scully, directly or indirectly, as. to his shares, nor did I ever owe him sixpence ; nor did I hear a word of his agreement with Mr. John Sadleir and Mr. Keating till Mr. Keating showed me the document in London a con siderable tine after it was executed. I also beg to state I never read any one clause in the new bank deed got up in IS-12—never saw it in the hank or elsewhere since I signed it in IS-42. I then stated most distinctly I would not continue to be responsible for the working of the bank alone if extended, but that I would assist to the best of my ability if other competent persons were appointed to act with me, but that I would not continue to give my whole amid entire time to it as I did the three years previous to 1812. The Evening Post contrasts these denials with the bank report of February, 1850, published and signed by Mr. James Sadleir, and in which lie declares a dividend of six per cent., a bonus of three per cent., and announces the reserve fund to amount to 17,375/. 123. 7d., at a moment when he knew the bank to be in a state of hopeless insolvency. FROM THE LONDON GAZETTE. Tuesday, May 12. BANKRUPTCY ANNULLED.—ALEXANDER DALnYmTLE,II, Lime-street. City, merchant. BANKRUPTS.SPECIEL Monicz, 7. Coleman-street City, importer of loreign and fancy goods—JONATII 01 CRUSE, Knit bury, near Ilungerforul, 13erks, builder—RICHARD GALE, Skirtnett, liarubledou, Bucks, grocer—CASTLE BUANOWIN, the Blackheath-road, Greenwich, grocer and tea dealer— MAnY HUDDLESTON and THOMAS HUDDLESTON, Berners-street, Oxford-street, cabinetmakers—JAmns MAY, 127, Goswell-street, Clerkenwell, linen draper—WILLIAM ORGAN, Walsall, Stafford shire, saddler—SAMUEL ARMSON, Wulbrook Coseley, Sedgley, . . Staffordshire, builder-SAMUELSTAIDIER, Wolverhampton, shoe manufacturer—JOHN BARN r. 13, Dorchester, dealer—lNlT.l,lAm LEARE., Lane, Holum, Almondbury, Yorkshire, cattle dealer— CROW"I'HER and WILLIAIit CROWTHER, Huddersfield, curriers—HENßY HARRISON, blletneld, taiIor—NEPTUNE SEAL and rlollN SEAL Denton I ancashire hat manufacturers— WILLIAM JONES, Caruarvon, slate and coal merchant. seorlli SEQUESTITATIONs.—Joum TURNBULL and Co., Edinburgh, woollen warehousemen—ALEXANDEß STRACIIAN, Arlary.sawmilla. Kinross•shire, wood merchant —JAmics Fait onsom. Glasgow, grain and prevision merchant—Davin Tticatsox, Miluathort, Orwell, Kinross shire, cabinetmaker. Friday, May 15. BANKRUPTCY ANNULI,EI).—JawEa BASTE and Somum( I,mm Savage-garden 4, Tower hill, City, wine merchants. BAN h s.—IiENRY ROBERTSON, SL Corulnli, commission agent—GEonoe COCKBURN HYDE, South parade. Chelsea, surgeon—BENJAMIN CANTZR, York, cloth merchant -mil N %1 , 1 EarsrisTLE, Bury, Lancaster, tailor— GEOROE TILLEY, Walton-on-Thames. brewer—Jammu N. KNAPP, Newport, shipowner-oEolloz °lrma, Hart.street, Grosvenot acptare, ironmonger—HENßY ITIMEY Cox, Shalford, Essex, gromr—SAMUEI. TANSLEY CUNDY, Helgrave.wharf, Pimlico, statuary and stone mason--Ana tiv.m klii.nr.a and JAMES MILNES the younger, Oldham. cotton spinners—Jonn OwErt, and N% ILLIAM HENRY BOON, Birmingham, silversmiths—WY. THIIII , IION, Over Darwen, Lancaphire. power loom manufacturer —JAMES STAMPS. Handsworth, and WILLIAM FINCH, lien., Tipton. Ktufforilehlre, paper make's. BCO ICH sEQUE-ItATIONS.--Joirs'.—xfASTEß, Glasgow, drapt•r—.AMEN WOOD, Edinburgh, merchant—CllAP.LES ANDER SON, Arbroath, mama • m er. VICE-ADMIRAL LORD RADSTOCK, C. 8., died at his town residence, 26, Portland-place, on Monday morning, sbortly before nine o'clock. THE HON. COLONEL. HENRY SUTTON FATE, died last Fri Atty morning at Lady Georgiana Fane's resi dence in Upper Brook-street, Grosvenor-square. JASPER CHASSEAUD, Esq., late British Vice. Consul at Tyre, United States' Consul-General for Sy' ia and Palestine, Consul to H.M. of Prussia, H.M. of Russia, H.M. of Sweden and Norway, H,M. of Naples, died at Beyrom, on the 22nd ult. Mr. Chasseaud was well known to Eastern travellers forhis generous hospitality. H.M.S. Exmouth, 00, upon making the Lizard on Tuesday morning in a dense fog, en route home from Lisbon, ran ashore about three miles to the north ward. Fortunately the tog lifted in time to put the helm down ; but as she rounded to, she bumped over the rocks, starting one of her boilers, and knocking off some of her forefoot. Happily she tell off into deep water, and got safely into Plymouth the next day. THE PRESS. Putg Vadat nab Citg 3ntelligente. FRIDAY EVENING. THE return of the Bank of England for the week ending the 9th inst., shows the following changes compared with that for the week preceding: — Decrease in Circulation X410,964 Decrease in Public Deposits Increase in Other Deposits .. Decrease in Government Securities 996,383 Increase in Other Securities 219,531 Increase in Bullion Increase in Rest Increase in Reserve Bullion in Both Departments Circulation, including ltank Post Bills The Bullion is gradually increasing. and we expect that in the next return it will amount to 10,000,0001. The Reserve shows a very satisfactory enlargement , while Ile addition to the Private Securities, which indicates the commercial demand for money, is not so considerable as might have been expected. The Private Securities now amount to 18,630,3371., being nearly 3,000,0001. less than the corresponding item in the monthly account of the Bank of France, which was published this morning. The large falling off in the Public Deposits is ascribable to the redemption, which commenced on the Bth instant, of Mr. Gladstone's series of C. Exchequer Bonds, amounting to 2,000,0001. To meet the demand tints created, as well as that for discounts and advances, the Bank was rather a large seller of stock, consequently the Government Secu rities show a falling off. On the whole the return is of a favourable character, inasmuch as it shows that the posi tion of the Bank in respect to its means of assisting com merce is becoming stronger, while the indications of a pressure for money are not particularly striking. Although there has been less general pressure upon the Money Market in the present week than in the last, there has been no abatement in the terms of the discount houses and joint-stock banks. Considered simply with reference to the actual demand, the market has improved, for it has had fewer applications, while the expectation of enhanced rates which prevailed during a part of lust week have enlarged the supplies. At the Bank itself the demand, though good, has been moderate, and it is said that the bulk of the paper sent in has been direct from merchants —in other words, that the brokers of Lombard•street have not been borrowers. So far, therefore, some degree of improvement may be reported ; and it may be added that anticipated large arrivals of Australian and Californian gold, with a diminishing demand for silver and the better aspect of the Continental Exchanges, have further contri buted to improve the temper and disposition of the market. But, on the other hand, trade is less active, which par. tially accounts for an appreciable falling off in the number of commercial acceptances from the country, while rates on the whole are as firm as ever, note ithstanding the reduced demand and more liberal supplies. This is an anomalous feature in the market, only to be explained by the assumption that matters are not yet sufficiently settled in the opinion of the leading establishments to justify them in departing from the existing onerous terms. How• ever, there is an improvement, as we have said, and relaxation cannot be delayed if, as we believe, the position 1 , of the Bank is gradually strengthening up to a point which, unless some unforeseen interruption occurs, will shortly enable it to fix the minimum rate at six per cent. Indeed, vague reports were in circulation yesterday that a change in this direction might immediately be expected ; but they are premature, for the Directors will naturally endeavour to consolidate the advantages of the improvement 1.17 W apparent before influencing the market by a reduction in the rates. We rather think that the initiative in accepting lower terms will have to come from Lombard-street. On the Stock Exchange the supply of money generally has been good. In the early part of the week six per cent. was about the average rate, but yesterday, owing to the settlement in Railway and Foreign Stocks, it advanced to eight per cent. To-day there was a good demand in the general market at full rates ; but in the Stock Exchange there was extreme pressure, and in some cases ten per cent. was paid for loans. The demand arose principally from the public having sold large amounts of stock for money. The arrivals of specie this week have been under 200,0001., about two-thirds of which has been retained in this country. It is estimated that rather more than 1,000,0001. of Australian gold is now upon its passage to this country, while 400,t)001. is coming from St. Petersburg and about 80,0001. from Constantinople. These supplies will, with the present moderate demand from the Conti nent, remain with us to a great extent. The Bank has, during the present week, made purchases to the extent of about 180,0001., and it is still buying. Silver has fallen fd. in price, and the market is heavy at the reduced price, as the supplies are good and the inquiry for India and China is not at present very active. The Continental and American Exchanges continue to improve. Gold can now be sent from the United States with profit. English Securities of all descriptions have improved since our last, in some cases to the event of one per cent. Some railway shares have resisted the advancing tendency, owing in all probability to the temporary difficulties created by the settlement, but in general all have derived some degree of benefit. Consols, which left off last Friday at 94 to 1 for the 4th of June, closed yesterday at 94i to I—the highest price of the week. They have never since Monday been lower than P4l. A very fair amount of business has been done, including some rather large large sales of money stock.. To-day they opened at 041 to I), but the demand for money caused them to recede one quarter, and tbey left off, ofti cially, at 941 to j. After regular hours they rallied to 941 just. ' Exchequer Bills have been daily purchased by the Go. SAttIRDAY, vernment broker on account of the savings-banks, at the rate of 30,0001. per diem. So that since last Friday 1811,0001. have been bought. The quotations consequently have improved. The ltailway Settlement has interfered with business in shares, and for a time they were heavy, not responding to the improvement in Consols; but yesterday all descrip- tions were firm, and in some a considerable advance was realised. Today some descriptions fell one half per cent., and all were lower in sympathy with Consols. In the Foreign Market the most prominent feature has been a marked advance in Turkish Six per Cents. Merl cans have been rather flat. '.l'o•day the market was dull, and Turks were one quarter per cent. lower, closing at 94/ to 951. In Joint•stock Banking Shares a fair business has been done. Egypts have improved about five-eighths per cent., and are steady. Some chaLges have been made in the direction, the effects of which are expected to be highly satisfactory. Mining and Miscellaneous Stocks have presented no features worth special notice. The shares in the Atlantic Telegraph Company have declined to 50/. to 201. dis. The amount paid is 4001. Two commercial failures have been announced during the week —one, that of Messrs. Barker and Co., of South. wark, for 70,0001. ; and the other that of Messrs. Edward Hanibro and Co., general merchants. The liabilities are considerable in the latter case. The failure is also an nounced of a member of the Liverpool Stock Exchange. The first meeting of the Unity Mutual Banking Com pany was held on Monday, Mr. Sheriff Mechi in the chair, when, after some discussion, the report and accounts were unanimously adopted. Interest at the rate of three per cent. was declared on the payments made on shares to the Ist May, 1850. The preliminary expenses were the subject of some strong remarks. The propositions of the French Government regarding the renewal and modification of the charter of the Bank of France have been officially published. The charter is to be prolonged till 1897, and the capital is to be doubled by the issue of one new share of I,ooofr. for every share at present held. The issuing price is to be 1.100 fr., of which I,ooofr. is to go to capital, and 1001 r. to the reserve fund. The additional sums thus raised will, therefore, amount to 100,375,00:)fr. Of this amount 100,000,000 fr. are to be advenced to the Government against Three•per•Cent. Rentes, which are to be taken by the Bank at the price of 75fr. The Bank are to make ad voices on the debentures of the Credit Foncier, as well as on lientes and railway securities, and to add a charge for commission to their rate for discounts and advances. It is also contemplated that the Bank shall increase its ad- vances to the Treasury from 55,000,000 fr. to 80,0.41,000 fr. against bonds at three months' date, such bonds not to bear interest except whenever they exceed the deposits of the Government held by the Bank. Mr. Tire and Mr. Philip Anstruther have been appointed chairman and deputy chairman of the Bank of Egypt. The new committee of the House of Commons on the Bank Charter Act has been appointed, and it will com mence its sittings forthwith. . . The prcspectus has been issued of the Mediterranean Extension Telegraph, with a capital of 120,000/., in 101. shares, and a guarantee from the English Government of six per cent for twenty five years. The object is to carry the line, which has been already laid, to Sardinia, to Malta, and Corfu, where a communication will ultimately be effected with the Euphrates line to Tndia. The length will be 700 nautical miles; and it will Le completed by October next. Messrs. Coutts and Co. have notified their willingness to allow interest on any large sums Ileposited with them fur fixed periods. This is an assimilation to the practice of the joint-stock banks. Other private banks are expected to take a similar course. _ _ .... _ The National Provincial Bank of England have declared a dividend at the rate of eight per cent per annum, together with a bonus of ten per cent. True bills have been found by the grand jury nt the Central Criminal Court against the parties charged with conspiring to injure and defame the Bank of London. l'he indictment. has since been removed by certiorari into the Court of Queen's Bench, where the trial will take place. Mr. Commissioner Holroyd has directed that official copies of the examinations under the bankruptcy of the Royal Br;tish Bank shall be transmitted to the Attorney General with a view to the institution of criminal proceed ings against the directors of that nefarious concern. The learned commissioner expressed his conviction that a pro- secution could be sustained. The Provincial Trade Reports read rather better this week. A CASE OF PERFORMING IN THE DARK occurred a few nights since at the Central-hall, Darlington. Mr. and ➢frs. Howard Paul were giving their enter tainment, " Patch Work," when in the midst of the performance the lights suddenly went out, and the ball was enveloped in total darkness. A variety of efforts were made to relight the gas, but in vain. Here was a dilemma. The performances were only half over, and the audience grew impatient. At length Mr. Howard Paul came forward and said, " What are we to do? Shall we proceed in the dark? (Loud cries of " Yes, yes," from all parts of the hall.) If you cannot see us, you can hear, and we will introduce as many songs as possible, and dismiss as much of what appeals to the eye as is practicable at such short notice." The performance then pro ceeded, and the audience, amused at the novelty of the occurrence, applauded everything that was said and sung, in the most vociferous manner. At the conclusion they groped their way out of the building the best way they could.