The Press. — London, England, 1858-05-29 00:00:00

Mr l4lll point exultation to Wellington's name, Scotland can now place by their side that of Campbell. And if the first restrained the ambition of Louis XIV., and the second rescued Europe from the grasp o f Napoleon, the last has done a still greater s ervice to humanity, for he has delivered India from the tyranny of Nana Sahib. I beg to propose The health of Sir Colin Campbell, and that of the Officers and Soldiers under his command, as well in the Queen's as in . the Company's service, and a speedy a nd decisive triumph to their arms.'" The toast was drunk with great enthusiasm. Several other appro pnate toasts were then given, and duly ackno w 'edged. THE PRESS,. MAY 29, 1858. This comparison again shows increasing strength on the part of the Bank in respect to the Bullion and the Re serve. The Private Securities continue to fall off,—a clear proof that few bills are being gent in for discount. The aggregate of this item is now considerably less than it has been for several years. There is no change in the amount of Government Securities. The variations in the other items of the account are unimportant. The Money Market has been in a very easy condition all the week, the demand, with a slight exception yesterday and on Wednesday, having been exceedingly moderate, and rates without the slightest variation. The demand referred to arose from the provision of ten per cent. for the deposit upon the New Brazilian Loan, referred to below, which was paid yesterday. As usual, the deposits were enormously in excess. They would have gone far, indeed, to provide the entire amount required. The effect, therefore, upon the market was rather considerable for the time, but it was all along perceived to be temporary and exceptional. The surplus will be returned in a few days, and it will contribute to ease the demand now arising from the Stock Exchange in consequence of the fort nightly and monthly settlements that will be in progress next week. Owing to the Whitsuntide holidays this week, which are regularly kept in the busy districts of Lanca shire, there has been little inquiry from that quarter ; but it is increasing as the leading spinners and manufacturers are availing themselves of the falling prices of raw cotton to replenish their stocks, while the demand for goods, both for the Eastern and the American markets, is bringing capital into increased employment. The improvement in other branches of manufacture is gradually extending. There will probably thus be an increased demand for money next month. It will, however, be one into which rash speculation will not enter. h will be a perfectly legiti mate one. The period for wild and dangerous speculation is not yet arrived; but we have no doubt it will come, unless interrnpted by political circumstances, before the end of the year. The Bullion movements of the week have been com paratively unimportant. The most important features in them have been the recommencement of arrivals from the United States, owing to an improvement in the Ex changes, which will probably be maintained, and in con siderable receipts from St. Petersburg. Nothing has come in from Australia. Altogether the receipts amount to 132,2111. The exports, on the other hand, have not exceeded 10,0001., and rather less than 30,0001. has been sent into the Bank. As the continental demand is partially suspended—and besides 300,0001. expeeted from Russia an equal amount will probably be brought by the Austra lian mail steamer—the stock in the Bank will, in all likelihood, receive rather large additions in the course of the ensuing week. Silver is in fair demand for India ; but there is, at present, an ample supply upon the market. The ignominious retreat of the Cabal from the factions proceedings involved in the vote of censure, and the conse quent victory of the Government over the most hollow and contemptible device to obtain office ever conceived by any political party, caused the Funds to attain oa Saturday the highest quotation known during the last two or three years. The reaction subsequently has been very trifling, although the organs of the Opposition are every day raising up giants to frighten timid holders into &panic. Railway Shares have been irregular. Some descriptions have advanced, and others have fallen, owing to special circumstances with which political questions have nothing to do. The main feature about the national securities is their strength and stability in the face of the most bitter feelings of personal animosity towards the Administration, and particularly towards the Finance Minister- e circum stance that indicates, as clearly as anything can indicate, that the Government is popular with the majority of the individuals and corporations who trust their money in the Tandy. _ _ _ _ Consols left off last Friday at 971 to j. On Saturday they advanced to 981 to f. Since that day the general quotation has been 97j to )8. They closed at this quota tion last evening. The Scotch Banks have been large buyers during the week, and the Commissioners for the Reduction of the National Debt have made small invest. ments almost daily. This morning they opened at 971 to 98, and after a dull day of business, they left off at 97j exactly. Foreign Stooks have been in moderate demand. Peru vians are still good. Turks have declined. The Ow Brazilian Loan, noticed below, has been done at 1 prem. Railway Shares are lower, from sales principally of a speculative character. Caledonians have been especially pressed, and North-Easterns also. The large masses of Indian Stocks held in the Stock Exchange have, in muse quence of the calls about falling due, been forced upon the market, and rather a heavy fall has taken place in conse quence. The Traffic Returns for moat of the leading lines are taking a more favourable turn. Banking, Land, Steam, and Mining Shares have all been dull. The reduction in the interest upon Exchequer Bills hu caused large sales of these securities by the banks; they are, however, still at a good premium, but there is some desire on the part of holders to change their investments. The June Bills which have been called in were done last Saturday at a premium of 25e. to 305.; yesterday they had fallen to 17s. to 225. The March Bills have receded from 404. to 45s prem. to 38s. to 375. The India Loan, since the issue of the debentures yes terday, has fallen to 99k. Messrs. R,thschild have contracted for the new Imp.. rial Brazilian Loan of 1,526,0001, at four and a half per 525 cent., the purpose of which is tp complete the Railway Dorn Pedro II.; and on Tuesday they invited applications for subscriptions. Bonds of 1001. each, payable to bearer, are to be given to the subscribers, and the instalments are to be paid as follows .—Twenty-five per cent. on the Ist of Jane; twenty-five per cent. on the Ist of July; twent3•fire per cent. on the 2nd of August; and twenty-one per cent. on the Ist of September, making 961. for each 1001. stock. The interest, which is to be paid half yearly, commences on the Ist of June, and discount at the rate of two per cent. allowed for payments in anticipation. A sinking fund for the redemption of the loan is to be derived from the surplus of the seven-percent. interest on the capital of the railway, which is guaranteed by the Imperial Go vernment, after payment of the dividend.. The railway calls due in the month of June amount to 1,366,5761. Of this sum, 700,0001. i■ on account of two lines in India; 480,0001. for the Northern of France Rail way, which will be supplied by the French market; and 81,0001. for the Rigs and Luneburg Company. The calls fur June are larger than in any previous month of the year, and they completely explain the depression of railway shares. The aggregate calls in the first six months of 1888 amount to 7,334,1451. The Board of Trade returns for the month and for the fur months ending April 30 were issued on Wednesday. The declared value of our exports in the month was 9,451,4331., against 9,985,844/. in the corresponding month of 1837 and 9,424,9261. in 1856. There is, therefore, some evidence in these tables of a revival of trade ; and, on looking over the items, it appears that there has been a considerable increase in the shipment of cotton goods to the East Indies and to Turkey. Iron, steel, silk, and wool still show a falling off; but, on the whole, the present re turns are the most favourable that have appeared this year The act imposing a penny stamp on bank cheques came into operation on Tuesday. Some confusion was caused at various establishments by the public being only partially prepared for the change ; but since that day, minute in structions have been issued by the Bank of England and other concerns as to the practical operation of the law, and everything is now going on as quietly and as systematically as under the old system. In many quarters certain pre judices, inseparable from previous habits and from repug nance to innovation, are expressed ; but they are already gradually disappearing, and we shall be much mistaken if this stamp does not eventually prove more popular and more productive than was anticipated by its promoters. The Provincial Trade Reports are still improving, though in the present week there has been a falling off in business in consequence of Whitsuntide. FROM THE LONDON GAZETTE. Tuesday, May 2.5. BANKRUPTS.—The LONDON and 14 Bawroto OOR. PORATION, Threadneedle-street, City—Hs/tar CLZNENTS, Myths, Kent, corn factor and coal merchant—WlLLlAM TOWNSZND, Notting-hill, nurseryman—Ramses ELLET, Wolverton, MIAs, innkeeper—Janis Soutons. Late of Brasted, now of Wester. ham, Kent, cosohroaker—Gaoloc Mans, Newcastle-under Lyme, miller—Joaw Magas, Leamington Priors, upholsterer— Rosser LANZ, Clrenreecer, agricultural implement and machine maker—SkMUEL FOSTIR, Morley, Yorkshire, dyer—Cua awl OATES, Heckmondwike, woolstapler—Maacmatr BLACKWILL. Sheffield, coach manufacturer—Rosser SPIEL, Oldham, tailor —Titomas IsICIIARD Bowicaa, Manchester, commission mer- chant, oalenderer, maker-up, and packer—RaLro fungal:Put, North Shields, newsagent and grocer. SCOTCH SEQUESTRATIONS. ALEXANDER WALL/CZ, Dundee, music seIIer—WILLIAM OBRISTIZ, Atichmrsader, gram and pototoe merchant—Gunton Rsma , Barrhead, spirit dealer —WILLIAM BOWIE, Falkirk, merchant—Smarm. Yooso, Aisdris, baker, confectioner, and eatiug•house•keeper. Friday, May 28. BANKRUPTCY ANNULLED.—SAWURt J. BUCHANAN, Paradise•street, Borherhithe, oorn dealer. BANKRUPTS.—HENRY Stunt, Vassall-road, Brixton, bottle beer merchant—WlLLlAM BALSDON, Bristol, hop merchant— BENJAMIN FREEMAN, Commerciiii-road, New out, Bristol-- CHARLES EASTWOOD, Manchester, fruit deaIer—CHABLIS H twties, Tipton, Staffordshire, grocer —Joux Hewitson, New castle-upon-Tyne, optician—Barnet THOMAS, Carnarvon, draper—Cuturrornea TURNER, :Warden, Lancashire, cotton spinner— ritaxces Baron, Oxford-street, Hyde-park. lodging house keeper—WILLIAM H. BARNES, Hawthorn-street. King's road, Ball's-pond, builder—Tßoxas CHATTER and BENJAMIN CRAFTER, Liverpool, stone merchatits—RlCHAßD A. Howe, Judd-street, New-road, grocer—Wittran U. Palmas, Penenett, Staffordshire, baker ono grocer. SCOTCH SEQUESTRATIONS.—JOHN GORDON, Muirton, Ross-shire, farmer— XILLIAII BROWNLIE, Craigneuk, Lanark shire, grocer—Janes Lirrte, junior, Edinburgh, tobacconist. of • son. the 19th Instant, Lady Margaret Leveson Gower, II the 23rd instant, Lady Harrriet Vernon, o( awn. ASTLEY—CORBETT—On the 21nd instant, at fit. James's, Piccadilly, Lieut• Colonel John Dug tale Astley, Soots Fusilier Guards, to Eleanor Blanche Mary, daughter of Thomas George Corbett, F:sg., of Elsham, Lincolnshire. GRAHAM—WALKER—On the 19th instant, at St. Mary's, Bryanatone-square, Lieut -Colonel James John Graham, son of the late General Graham, Governor cf Stirling Castle, to Isabella Louisa, daughter of the late General Walker, of Bushey, Berta. DUBLIN UNIVERSITY REFORM. GREAT excitement)prevails in Dublin in connection with the inquiry at present proceeding before the visitors of the College. The state of the case is briefly this :—At various periods durieg the last six Tears demands for reform have been made by several influential members of the University, but the pro posals have been either treated with disrespect or quietly evaded. At the Commencements held on last Shrove Tuesday the most Conservative of the Junior Fellows brought before the Senate a proposi• tion suggesting an obvious and just reform. It was, however, treated with marked discourtesy by the Hebdomadal or Senior Board, and the framers of the proposal were charged by an officer with having put forward a garbled statement. In the month of March last there appeared in the Dublin Uonserva. tive journal a letter upon the subject of University Reform, the writer being Dr. Shaw, a Junior Fellow, well known for his exertions in connection with middle-class education. This was followed in April by another letter upon the same question from the Rev. Mr. Carmichael, also a Junior Fellow. For the publication of these two letters, both written in the most temperate terms, the twa gentlemen named were cited before the board, and without being called upon for any defence, or even permitted to vindicate themselves,) the severest academic penalty was inflicted—namely, a publio censure. It is against the injustice of this proceeding that Dr. Shaw and Mr. Carmichael have appealed to the visitors of the College, and their case came on for hearing before the Vice• Chancellor of the University and the Archbishop of Dublin, last Monday, in the dining-hall of Trinity College. The counsel for the Board were Messrs. Brewster, Q.C., Lloyd, Q.C., and Todd, LL.D. Messrs. Joy, Q.C., and H. Smythe, Q.C., appeared for the Rev. Mr. Carmichael, and Messrs. Lawson, Q.C., and J. H. Mills, of the Munster Bar, for the other appellant. The arguments pro and con., so far as the ques tion of censure is at stake, were concluded on Tues day, but the subsequent proceedings show that the dispute between the reformers and the board has only commenced in earnest, and that the issue now involved assumes an interest extending far beyond the confines of Trinity College. After Mr. Hamilton Smythe, Q.C., had addressed the court on the part of the Rev. Mr. Carmichael, the Vice• Chancellor sn nommed that the cases mast stand for judgment. An important discussion then ensued between coun sel and the court, the result of which was that Mr. Shaw was induced to put his charge in writing to the following effect : My allegation is that the proportion of fees on higher degrees, as published by the board in 1701 and 1801, has been altered so as to give to the provost and senior fellows amounts formerly given to Trinity College. In bringing this charge I thir.k it right to add that I make no personal imputation against the existing members of the board. I further allege that the statute enacts that sub-lecturers shall be provided to lecture in each of the four classes, and that for the present year the board have only ap• pointed two. And that the court then adjourned till the Ist of June, when we suppose judgment will be pro nounced. Previous to the adjournment of the court, the Rev. Benjamin Dixon, junior fellow, gave notice of his intention to bring forward a charge against the board of violating one of the statutes. Monti Aqultet anb titg lattiligenct. FRIDAY EVENING. Tots return of the Bank of England for the week ending Wednesday last, the 20th inst., shows the following changes compared with that for the week preceding :—.. Decrease in Cirenlaticn Increase in Public Deposits Increase in Other Deposits 15,570 Decrease in Private Securities Increase in Bullion Increase in Rest Increase in Reserve Bullion in both Departments Circulation, including Bank Post Bills DEATHS. BEADON—On the 22nd instant, at Bath, Juliana, widow of the Rev. John Watson Beadon, l►te rector of Christian Malford, Wilts, aged 90. BYRON—On the 19th instant, at Bryndu, Wales, Jas. Byron. Esq., late Captain /1 M.'s Bth Regt. of Foot, son of the late Rear• Admiral Byron. C.B. COX On the 21at instant, at Harwood Hall, Z. Cox, Esq., formerly of the 23rd Lioht Dray 00W ER—On the 21nd instant, Lady Margaret aged 28. STAINTON—On the IPth instant, at Claremoni Stainton, Esq., aged 93. Essex. Ball, Essex, Philip Dragoons, nged SO. ;aret Leeson Gower, remont•teirace, Jobs