The Sun. — London, England, 1849-08-18 00:00:00

, NDON AND NORTH-WESTERN RAILWAY. The usual half-yearly general meeting of the pro prietors of the London and North-Western Railway was held yesterday in the great hall of the Euston Station ; Mr. G. C. Glyn, chairman of the board of directors, in tho chair. The meeting being the first that has been held in this magnificent building was very numerously attended. The business of the day was commenced with the reading of the minutes of the previous meeting, which, on the motion of the Chairman, were unanimously con firmed. The common seal of the company was then affixed to the register of proprietors. The CHAIRMAN then addressed the meeting as fol lows :—Before, gentlemen, we proceed to the reading of the report I am anxious, according to the custom of this company, previously to occupy your attention for a few minutes with a few words upon some parts of that report which will be afterwards read to you.—(Hear, hear.) In the first place, gentlemen, I am a little anxious to remove from the minds of the proprietors some little ap prehension which has been felt since the publication of the accounts as to the large dip wo make on this occa sion into our reserved fund.—(Hear.) Now, I beg Hon. Proprietors to recollect, and all who are acquainted with railway practice know full well the fact that the two half-years, the first and second divisions of the year, are very dissimilar in their comparative results, and that from time to time we have in this company found it necessary, on one occasion to a much larger extent than we do now, or at least to very nearly the same extent, to make use of the reserved fund which had been accumulated in the preceding half-year.—(Hear, hear.) I am quite aware, gentlemen, that this is per haps an inconvenient custom; but as long as the present system established by the Act of Parliament rendering it necessary to make up the accounts-in a particular manner exists, the consequence of that inconvenience is inevit able. I would much rather that we were in the situa tion, and could follow the example, of many public companies in London, who, although they hold two half -yearly meetings of their proprietors, nevertheless regulate their dividend by one annual making up the accounts; we should by that system avoid a great deal of that inconvenience, and the occasional fluctua.ions that now arise. —(Hear, hear.) But, gentle men, having said this with regard to the use of the re served fund, and explained that our taking a great proportion of it on the present occasion, icy no means an unusual practice, indeed it is the ne cessary result of the form of keeping the accounts— still at the same time I do not hesitate to say that your directors are on the whole disappointed with the result of the operations and business of the year.—(Hear, hear.) I allude particularly to the results which have followed the accounts made up in connexion with the passenger traffic.—(dear, hoar.) The receipts, gentlemen, of the past half-year upon passenger traffic amounts to 647,9171., a total that is very considerably less than that of the corresponding half year of 1848, and very considerably less indeed than that of the corre sponding half years of 1846 and 1847.—(Hear. hear.) And, gentlemen, it is to be remarked that this alteration in our traffic receipts has fallen upon particular places. —(Hear. bear.) London has done its duty; but at Liverpool, and particularly at Birmingham, our re ceipts present a very considerable diminution.—(Loud cries of " Hear, hear.") On the other hand, taking the whole of the local traffic in the aggregate, we are satisfied a ith the results which it presents.—(Hear, hear.) Upon that important item there is on this occasion no falling off whatever.—(Hear, hear.) Now, gentlemen, in touching upon the question of the pas senger traffic, it is impossible to avoid alluding, in passing, to the causes which probably have produced that effect.—(,iear, hear.) From Ireland, gentleman, which is of course a considerable source of traffic to this lin., we have comparatively drawn little or nothing.—(Hear, hear.) But I am inclined to consider that we must attribute the falling off the receipts upon passengers still to the evil effects of that disastrous year 1847. I think the effect generally throughout the coun try of the disastrous events of that year has not yet passed away; and I think also, gentlemen, that a great deal, perhaps mere even than the effect of the com mercial distress of that period, is to be attributed to the legisl Ilion on railway matters in the years 1845 and 1846.—(Hear, hear.) I attribute to that legisla tion—that over legislation—that reckless granting of new projects—a great deal of the mischief, both in com mercial matters and also in railway matters, which we are now decidedly suffering under.—(Hear.) We cannot expect, gentlemen, the revival of our passenger receipts until the community at large have recovered from the effects which were produced upon them by that constant recurrence of calls—that constant recurrence of sub scriptions and losses upon new projects, from which the great proportion of the community had more or less suffered.—(Hear, hear.) It is from the surplus income of individuals that any increase of our passenger traffic must mainly be looked for.—(Hear, hear.) It is when the pocket is full of money that a man with a family turns round from business to see whether he can venture forth to enjoy himself—to see where he may go for re creation, and, under these circumstances, we cannot look for a revival of our passenger receipts until all these disasters to which I have referred have been en tirely overcome.—(Hear, hear.) Now, if lam correct, gentlemen, in attributing the depression of railway traffic in general to this cause, there is at any rate this satisfaction connected with it, that it is cause of a passing character.—(Heir, hear.) I cannot help feeling, when I look aroun in the manufacturing districts of this great country, that there is decided evi dence at this period of a very great—though it has been gradual—improvement ; and if the prospects of the harvest should be blessed with plenty, I see no good reason why we may not look forward with a great degree of confidence to a return to the position which we occupied in the years 1847 and 1848.—(Heir, hear.) Ido not wish you to go back to 1845 or 1846, because those were years of prodigious excitement, in which years the traffic was exaggerated by those schemes and projects which at that time were got up and thrust upon the public, and which produced an expenditure in railway travelling of a most extravagant, and, as it afterwards turned out, of a most detrimental character. But, gentlemen, if the passenger traffic of the present halt-year has not realised the anti cipations of your directors, it is at least a source of great satisfaction to them and to me that I am able to tell you that the same disaster has not fallen upon the goods traffic, and our accounts present a very different feature in that respect. (Hear, hear.) Upon the goods traffic we are enabled to report that, for the half-year ending 30th of June, 1849, it amounted to 385,0001. ; whereas in the corresponding half-year of 1848 it amounted only to 339,0001—thus showing a very considerable and large increase. —(Hear, hear.) And, gentlemen, in alluding to that increase, we should not do justice to the enemy, activity, and pro ceedings g enerally which have characterised our agents under the new system of goods traffic upon which that part of our business is now based, if we passed them over without some remarks. They have certainly conducted the goods traffic in a way which leads us to look forward to a sill further increase, not only in the activity which they now exhibit generally, but also in the amount of accommodation which is afforded to the public.— (Cheers.) There is one other point in connexion with the accounts before you upon which also, gentlemen, I have a right to ask for your approbation— I allude to the reduction in the working charges. Ido not say that the reduction is very large, because it is right that you should understand that the system which we announced to you in a former report, as to our working under contract and tender, has not yet come into general operation—that is, we are at present under the effects of a part of the old system; but we look forward—and there is no reason why we should not look forward with confidence—to an additional saving on that head. At the same time, I wish to add, and I am sure you will be rather gratified than otherwise, that this subject still occupies the attention of your directors, and that while I have no doubt we shall be able to refer to retrenchments in particular parts of the service of the company, I am happy to say that the busines.i is conducted with more than usual regularity, and with perfect efficiency in every branch. Geatlenien, when you have the report read to you, you will see that a deputation has been appointed by the board to era , r into negotiations with the Mid land Company. I am happy to state to you that since that paragraph was penned, the final meet ing of the deputation of the two companies has taken place, and I am enabled to announce to you, that the arrangement has been made with the Midland Company, which I have no doubt, in working, will be protective of the interest of both companies —(Loud cheers) that it will secure to you a more full development of your merchandise traffic in particular than any other system of action with them that could be devised, and at the same time it is regulated in such a way, that if any difficulty should arise under the system may from time to time be re-arrappil, thus avoiding, in point of fact, any detrimental cons.:quences to the interests of either ecmpany.—(Cheers.) The arrangement I allude to does not take the character of an amalgamation—(Hear, hear)—but it is for the mutual working of a certain branch of the traffic, and a large branch—to use a mercantile expression, I will say we have entered into a joint account which I think will prove most beneficial to the interests of this company.—(Cheers.) There is also another point, gentlemen, upon which I wish to occupy Your attention for a moment. This is the first occasion on which you have seen in the accounts any re ference to the peculiar mode of working the system, which we have _propos e d f or k eep i ng i n order our per manent way. I doubt not that nearly all of you have seen in print the yptoortthmade officers or a:is came report by the executive board on that subject. Aiter certain alterations, that re port was adopted by the It, and hope to bard; and we are now carr early it oat to your advanta hear, and tothe cheera.) Tha principle of the syst m C, this— we ire applying to the permanent Ira! we is 7ar2ietlyis duration of rail;, chairs, and sleepers to teem exactly the same system which a life assurance office applioi to the carrying on of its business • r ijr — e have evi:lenee which is open to the whole world, nod which n u. be arrived at certain ccnclu si which authorise us to say that in a certain number of fears the permanent tvay requires replacing.— (II ear, hear.) We have found eat by practical re-olts how much it will take per 'annum to arrive a: a sum, at the expiration of a certain period, which will replace the whole line. We propose that every halt-year the necessary sum to be given to the an -11.141 account shall be taken from the revenue account — that that shall be applied, with securities, at the rate of four per cent., and shall form a separate and dis tinct fund from anything else connected with your busi nes; and xe know from the calculations of experienced , actuaries, that if that system is honestly and properly followed out, exactly in the same way that a life assurance office follows out its system of meeting the liabilities, on a policy on a life, we shall be in a situation to lay aside, in this way, the entire sum necessary for replacing the permanent way. Of course, gentlemen, the accu racy of carrying ont this will depend entirely upon the honest performance of our duty. If there be any doubt, any hesitation or delay as to the way in which the sum is used, as to the investment of the money every half-year, then, gentlemen, of course the calcula tion falls to the ground. With the view of keeping our eye upon this system, we thought it neces sary, with the sanction of the auditors, to append to the account the first result of the working of the system. I am happy to say, in reference to this particular subject, that there is another point upon which doubts may have arisen in the minds of those who have not occupied themselves with the subject, viz., at what price the rails may be replaced. Now, to set the matter at rest, I may say that the ten ders which have been received by the principal railway companies enable me to tell you that the cal culations set forth in the report of the practical officers of the company are rather higher than the price at which we can at present get rails would justify. Perhaps I have dwelt too long upon this subject, but, as the principle involved is a new one, and has never yet been introduced into any railway company, because from want of experience it has never been fairly looked into, I thought it advisable to take advantage of the first opportunity which presented itself to enter into some account of the reasons which have induced us to adopt it. When we last had the pleasure of meeting you, gentle men, it was upon a question of primary importance in every view to all connected with railway interests. I allude to the special meeting convened on the subject of the Audit Bill then before Parliament. The almost una nimous vote which that meeting arrived at; expressive as it was of its views so strongly upon the then proposed measure of the Government—had, I am c ertain, a great effect on what subsequently took place. Acting in some measure under the advice of an Honourable Proprietor whom I am glad to see present on this occasion (Mr. Alston) — acting on his advice we, making a portion of the depu tation of Railway Companies, waited upon Lord John Russell, the head of the Government, who was at tended by two of the Railway Commissioners, Mr. L abouchere and Sir Edward Ryan, and after much par ti miler discussion on the merits f the measure itself, and after explaining to Lord John Russell the views of the railway bodies generally as regards the subject of additional audit, Lord John Russell frankly and explicitely declared to us, that if we, the R a ilway C a ud i tom pa n i t e o s , o w u e t r e hands inclined, he e t o w t a a a k e nota Ea e t a h s o u r of additio nal wia Gw oa a enxious to bring railways under t he control of the - vetrament for that purpose. — (Che ers.) In consequence t he Bill was in a few days after that declaration withdrawn from the House of Commons.—(Hear, hear.) The de pu tie s who represented the railway i n t erest at the meet ing held subsequently to the withdrawal of the Bill, adjm irned their meeting until a later period in the year; their object, gentlemen, in that adjournment was to afford time for the holding of the public meetings of the differ Tot railway companies, that they might, when they met again, either receive personally from the proprietors their opinions, or receive suggestions from them in weiti ng, if they so think fit,—that they might, in fact, re reeve suggestions in some mode or other re ga rdtng the measure which it may be the au ty of railway directors themselves, or railway pt.( )perietors themselves, I would rather say, to introduce into Parliament next session. And, gen tle men, I beg to state that if the proprietors think it wo rib. while, and I hope they will not neglect the occa sio n, to enter into the question and offer suggestions to that meeting when next held, I trust they will come for , v&rd and do so, because I can speak confidently of those who, attend this meeting that they entered /as diligently as the y could do into the subject which at the time I mail/ on we had in view—namely, to defeat the measure oft ht: Government, which would have taken from you that power which at your special meeting you said you would not surrender. That was the subject whi .•,11,, in the first place, you had to consider; in the second, to be the medium of introducing such .a. measure before the attention of Parliament in the next ae scion, which might emanate from the proprietors them selves. 'I told you at the last meeting, and I now repeat': again in the face of any observations that may be me ,d. ) upon it, that I believe that the powers which yoa )ao w possess under existing Acts, if you will only is .ke the trouble yourselves to see properly carried out, are effectual for the purpose of a full and compl at e audit.—(Bear, hear.) And I do not think it quite trii ;ht and fair that the absence of attention, on the part or proprietors, should be thrown in the teeth of execut'iy a bodies who opposed the measure to which I have r eft Irred.—(llear, hear.) Recent experience, gen tlemen„ tells me also that the powers under existing Acts p sessed by proprietors, when exercised, are ample and sufficient ; but when I say that I will add my own individ ut it opinion that, judging from the experience which et have obtained during the past, I, as a proprietor, should not be content with leaving Parliamentary powers exactly as they now stand.—(Cheers.) Why, gentlen sen, do I say this ? Because times may arrive :again when proprietors may pass from their p re sent state of activity into which they bad been raised •on those questions, into that calm and dreamy state in. -which, when they are getting large dividends, they wera so apt to fall into. And, gentlemen, it is on accounit: -of that—it is against the possibility of supine ness—it; .is against that I would ask you to consider, that in any measure to be proposed additional powers ought not to be given with respect to the ques tion of audit. I say now, as I said then, that I believe that the addition of professional men, as expressed in the Pee elution passed at the last meeting, would be so sient and entirely sufficient for the ob ject sub ich I have in view. And, gentlemen, when am met by that argument, in answer to that -that the accountant or auditor, whatever he may be' .called, so appointed, would be the mere tool of the ra; lway bodies who would appoint him— I say that that casts an imputation upon two classes of men. I won't take up your time in de fending- railway directors, one of the classes alluded to, because: , it is their duty to bear all those remarks that art thrown out against us, whether deserved or not; bat I do think it a hard imputation against a class of men: whose livelihood depends upon their professional exerti( 3—l mean that class who hold a considerable stake rem ong commercial men, the class of public account ants. It is hard upon them, it is unfair that it should be suppo see I possible that because they are appointed by men like tl tot ie before me—it is unfair that they should be subject; to an imputation of being dealt with as mere - tools, which, if I properly interpret it, means that they can be easily bribed by the men sitting. 'behind the bar. Is it likely that men occupying a high station, as from their position they occupy in the . commercial world, whose very subsistence doper eh; upon the good opinion of commercial men— -is it possible to think that such men will mad themselves to such proceedings as these? On the c• trary, they would be the first to show up any pro ceedi np ;s of this kind, and hold up to shame and obloquy, any a tt empt, if made, if it could be or dared, be made by any e ecutive body. I think it is hard to suppose that it is possible such men could be dealt with in this way by tt to executive body of the company. It is hard upon hem, but harder upon the class of gentlemen to whom_ I have referred. But I can name another class from -whom the accountant might be chosen. We have in all towns a class of gentlemen of large respon sibility appointed as official assignees. Choose account ants from them if you think proper. They hold their places,', during their good behaviour. Is it likely that a man to r any trumpery offer that would be made to him by a railway company would risk the loss of that which gives him his place for life, that he would cone , ?al' or alter any accounts placed before him ?` Such a thing is altogether unlikely. I am :anxious, and so I have no doubt are you, for the readini ; of the report.—(l.lear, hear.) I have often ad verte d to the question of the capital account, and I hope the tiar to has now arrived when the operation of the capi tal at cunt will be such as to render the operation upon it of little importance.—(Hear, hear.) I hope in future, that the capital account will by some plan be brouso t more under the cognizance of the proprietors.— (Hear, hear.) I conceive that some system may be a'lo pted by which the directors may take from the proprietors a vote on account, and that the directors at se mt s future meeting might account for the amount of that • rot :e.—(Cheers.) I believe that if such a plan was ac'op ted it would obviate great difficulty. In railway trans actio, as. I am ready to admit it is often impossible, with aft increased business, that the accounts should be ready -at the particular time—(Hoar, hear)—but the shay sh. alders might depend upon it that every exertion woul (.1 be made to produce so desirable a result. The Iran Jac tions of this company, I am happy to say, are in crea tin g; the mercantile transactions of this country are, I am Nappy to say, also improving; and such being the case, think it is a sound principle that all votes of money shoal id be placed under the control of those who voted it. —(C ht 'ors.) I have nothing more to add, except to state that VP a stand before you under circumstances of great anxi et y . It is our duty to give an account of our wh o l e trap: MI :lions, and that we have endeavoured to do.— (Chi tee s.) In all that the directors have done, they have cons id ered the interest of the proprietors. They have been oblig :e4l, and they cou ld no t avo id enter i ng i nto many profit to is that. the legislation of 1845 and 1846 compelled them . sto enter upon. The shareholders, therefore, could not t ,brow upon them that as ma tt er of! blame.—(Hear.) The directors came before the proprietors to show to them what they had done. It was true they had done some • deeds at which the shareholders might be asto nish, ,d ; the directors might have done some deeds at whic 1t the proprietors might be astonished—they migh have done them mistakingly—(Hear, ham) —by t this I will say, whatever acts they have done wror igly they have done them innocently and with the best it itentions.—(Hear, hear.) The directors have acted : - throughout in an endeavour to be the faithful stew art Is and trustees of the proprietors ; and, wha tevi e. we have done, if our acts are to be exit. nin ed into, we have no fear for any control or any am lit that may take place.—(Cheers.) Mistakes we •sa y have mode—(Hear, hear)—they have been hone y made, and we look confidently to the approval of the , eshareholders both in London and elsewhere. Tb e CILAIRBIAN then called upon the secretary to read the fo lit , wing report:— "In: a übmitting to the proprietors the usual,half-yearly p a s e, ev n the t tet d ae iie t e e t n o t rs o h i a 2 v 2 e t l o B9 r i epo T rt h. a diminution of the yr a i s oGuosi n v o ce m arn p u, a mse r es e_ n d . with the same period of 1848 r h reliefe.t t ri bn t)ase troops to op s v c ia ' a d ecrease may be Government has reduced suspension educed the of receiptsthe 4,5004. - and the loss of one day (1848 being leap-year) may be •e estimated at nearly 5 ,0001., i n comparison of th e produt ;a . of the two corresponding half y ears . ataou A further decrer Ise uaay be found in th e lessened of travel ling f aro, atrhout the country, and i n the establ ishment 11t o f new, t hou, gh distant channels of com mun i cat i on , attract ing sot to of the traffic which has hitherto passed over the Loll on and North-Western Railway. " The cattle traffic, which shows a diminution of 1,7721. received a cheque, owing to low prices in the London markets; it has recently shown a steady advance over last year. "It is satisfactory to report, in the merchandise de partment, an increase of business, amounting to 47,0001., which has been obtained at a very trifling augmentation of the working expenses. This large addition of income, in the face of much competition, is an indication of the expanding commerce of the kingdom, and of the sound ness of the system on which the carrying business of the company is now conducted. " The working expenses of the line have been reduced, and the directors are satisfied that a further gradual reduction of these charges is consistent with the convey ance of a large additional traffic. " The increase of the aggregate receipts from traffic, as compared with the corresponding period of 1848, is 23,0321., the working expenses being 5,854/. less ; leaving a ❑et increase of profit of 28,886/, with about the same mileage. _ _ " The working charges on the present occasion are, exclusive of rates and taxes, 35.9 per cent, and including those items, 40.9 per cent. ; but a per centage of work. ing charges on gross receipts affords no sound test of the economy of railway management. " The moving stock is. in excellent order, and the usual renewals have been effected. ' " The proprietors are aware that the important ques tion of the deterioration of rails and permanent way, and the necessity of providing for their renewal, has engaged the serious attention of the board. With a view of arriving at a sound conclusion on this subject, they ordered their officers carefully to investigate all the facts of the case. Their report having been maturely considered by the board, it was una nimously adopted, with some modifications. The result of the inquiry showed that an annual appropria tioa of 20,700/. with interest at 4i per cent, would pro vide for a perpetual! renovation of the rails, and other perishable materials connected with the road. , The board decided that the interest should be computed at 4 per cent., which increases the amount required to 22,0502 per annum ; one-third being charged in the spring, and two-thirds in the autumn half•year ; and the sum of 7,5251. is accordingly deducted from the re venue of the p rese nt half-year. " The complex arrangements, and conflicting interests , arising from the opening of new lines of railway, either directly or remotely affecting the position of this com pany, have engaged, and must for a length of time re quire the anxious attention of the directors. They have been desirous to recognise the just claims of other com panies, at the same time that they protect your fair in terest; and thus to mitigate, as far as possible, the injury that would result to every interest, by au opposite line of policy. They have generally been met in the same spirit of mutual concession; and, encouraged by the feeling now pervading railway boards, they hope to overcome the difficulties as they arise without any serious sacrifice. They have concluded a mutually beneficial arrangement with the Midland Company, and with the Eastern Counties Railway; and they have extended their friendly relations with the di rectors of the Lancashire and Yorkshire lines. They have also agreed with the South Staffordshire Company, for the perpetual use of the Lon ion and North-Western line from Bescott to Birmingham, on terms satisfactory to both parties. They have not yet succeeded in making arrangements with the North Staffordshire Com pany, but negotiations are going on in a friendly spirit. Sensible of the advantages to be derived from a tempe rate consideration of every reasonable demand, the directors will lose no opportunity of extending alliances which must conduce to the convenience of the public, as well as to the prosperity of the railway companies. " The railway from Leeds to Manchester was opened for passenger traffic on the first of this month. The South Junction connexion at Manchester, and the new tunnel and station for goods at the north end of Liver pool. were also opened on the same day. " The Altringcham Branch Railway, in which this company is interested, jointly with the Manchester, Sheffield, arid Lincolnshire Company, was opened a few days previously. Referring to the promise given by the directors at a former meeting, that they would not proceed with new works without previously consulting the proprietors, they have now to call attention to the line authoiised by Parliament to be made by this company from Bir mingham to Lichfield, at an estimated cost of 200,0001. A. ter full consideration of the matter, the directors have decided that, under existing circumstances, the proper course for them to pursue is to refer the whole question of this railway to the consideration of the proprietors at the present meeting. _ "in regard to the Coventry, Nuneaton, Birmingham, and Leicester Railway, agreed to be transferred to the Midland Company (as explained in the general state ment of 28th October lost), the Midland board have sig nified their inability at the present moment to complete that arrangement. The directors trust that the transfer may not be much longer delayed, as it is obviously not the interest of the Midland Company to render necessary the completion of the line in question by any other party than themselves. " The chairman at the last general meeting expressed a hope that good might result from the discussions then guing on with the directors of the Great Western Corn pary. Communications of a friendly nature have con tinued without interruption, and although, as yet, no definite terms have been agreed upon, the directors have the satisfaction to state, that there is no longer any cause to apprehend a recurrence of those contests which hive entailed so much expense upon this company. " The board cannot omit this opportunity of bearing testimony to the obligations under which, in their opinion, the company lie to those individuals, both directors and proprietors, who, at great inconvenience, and at a time of extraordinary pressure and anxiety, assisted in promoting the objects contemplated by the resolution of the general meeting of February, 1847, with respect to the threatened extension of the broad gauge, beyond the limits of the Gauge Act, over the Birmingham and Oxford line. "From the statement of the half-year's accounts it will be seen that the net proceeds are ....£517,194 6 10 To which must be added the balance carried forward from the last account 71,493 12 1 £588,687 19 9 Less, further allowance for the renewal of rails of ... ... ... 7,525 0 0 Showing a disposable balance of £581,162 19 9 Oat of this sum the directors recommended a dividend of 3/. 10s. per cent. for the six months, amounting to 565,6611. Os. 83.; leaving a balance of 15,5011. 19s. ld. to be carried to the next half-year's account. " The directors have considered it necessary, with a view to greater security in the payment of the dividends, to make an alteration in the form of warrant hitherto used, and to request the proprietors either to pass their warrants through a banker, or to make application in person for the amount." The CHAIRMAN said, with reference to that part of the report which referred to the projected line from Bir• migham to Lichfield, although it would be sanctioned by the resolutions he was about to propose, it would be reserved for subsequent consideration. He begged now to move that the report be received and adopted, and printed for circulation amongst the proprietors, Mr. CHARLES LAWRANCE, the deputy-chairman, se conded the motion. HADLEY, tionwa o s f Birmingham, put ,whatthe outstanding wished to kn ow l ia b b i l e i f t o i e r s e tho U r r e . solu to other companies were, and what would be the pro blble cost of the lines now in the course of completion? The CHAIRMAN said with reference to the inquiry of the Honourable Proprieto r , th e more sat i s f actory way of answering it would be to refer him at once to the state ment put forward in October last year, where every thing was given in detail, and nothing whatever had been altered since -that time.—(Hear, hear.) Mr. HADLEY said his reason for asking the question WaSl this. He saw by the statement that the sum o 25,862,012/. was set down as the sum required to corn pieta all the lines now in progress. Now, he saw by the present accounts that already 26,225,2881. had been spent, being 363,000/. more than was required in October, and he wanted to know what additional sum would complete the whole lines? Again the Birming ham Extension Line was set down in the statement at 281,000/ ; but already that sum had been exceeded by 3,000/. er 4,0001 Now, what further money would be re quire d for that? He understood that other companies wore expected to contribute to that station.—(Hear.) The CHAIRMAN said the question just put was more easy to answer than the first. The Birminghamf Extension, it was true, was put down at 281,0001., to which would have to be added 50,0001. more, but although this company was finding the money to make that extension and station, other companies would have to refund a large portion of it. Mr. HADLEY asked what companies the chairman alluded to? The CHAIRMAN said the Great Western was one of them. Mr. HADLEY—Had the Birmingham and Shrewsbury ? The CHAIR3IAN—No, that company has nothing to do with it. Mr. HEADLEY—The Stour Valley ? The CHAIRMAN—Yes, as a matter of course, but particularly the Great Western. Mr. DEANE saw with considerable surprise in the state ment of accounts a charge of 91,3631. Is. 9d. for the Scottish Central Railway. Now, no Act of Parliament or resolution of the proprietors had authorised this company to contribute to that line; and he must, therefore, most decidedly object to the item. 47,7001. had been expended, and, he submitted, illegally, in buying Scotch Midland shares. This he thought was of sufficient importance to demand a notice at the hands of the Chairman. He had a right to complain of the accounts, for all that had hitherto been submitted to the shareholders had been mystified. They were going out of their way in purchasing shares in a worthless line, which he submitted it was, because a parallel line ran along side of it. The part of the report which referred to it ought, he thought, to be left, out, and brought forward as a substantial motion at a special meeting convened fcr the purpose. There was also 20,860/. 16s. 7d. paid out of capital for Parliamentary expenses in opposing the extension of the broad gauge beyond the limits as signed by Parliament. He could not conceive how so large a sum could be legitimately expended in such an opposition.—(Hear, hear.) Reports were current that the London and North-Western Company had purchased shares in the Birmingham and Oxford line for the pur rose of defeating the views of the Great Western Com pany. Then there was an item of 100,0001. paid unde r a working agreement with the Scottish Central Com pany. Now when a company applied to Parliament for pow( rs to lease another line, and their application was refused more than once, he thought it ought to abandon its intention of leasing altogether.—(Hear.) Thus it appeared for the glory of carrying the traffic of the Scotch Central they were to give up all the advan toe-es which they hsd. The arrangement he characterised as most unwise. Let the directors go to Parliament, if they thought proper, for necessary powers, but do not let them proceed in an. underhand manner. IC was ( said that eminent Scotch lawyers had given a favourable opinion. Now, he should like to see the cases submitted to teem. Indeed, an action was now pending in the Scotch courts out of the trans actions in connexion with these matters. If the direc tors persevered in their intention with respect to the Scotch Midland, he might feel disposed to move an amendment, or even proceed in the Court of Chancery. He complained that the Chairman had taunted him with being a small proprietor and a professional man on a for mer occasion, and he contended that he had as much right to speak as those of greater interest. He had not spoken until he found his small interest growing small by degrees and beautifully less. The CHAIRMAN replied that he had no intention to re flect upon the character or position of the Hon. and Learned Proprietor. What he said was, that he would rather take the opinion of a mercantile man, who held a lar ge s t a k e , than a professional man who held but a small one.— (Hear.) He still retained that opinion. He had lived long enough to know, and his experience had taught him hoar to value professional men, among whom he had lived, but when a question of investigating accounts was to be decided upon, he preferred the experience of commercial to professional men.—(Hear, hear.) H e regretted exceedingly that any personal allusion had been made by him to what had been referred to by the Hon. and Learned Proprietor; he never intended it, and if he had done so he retracted it.—(Hear, hear.) He did not stop him in consequence of his small stake in the concern, but because he was going beyond the bounds of necessary discussion.—(Hear, hear.) He was happy to say that they had never had any per sonal discussion in that room, and he hoped they never would.—(Cheers.) With respect to the question of contract, on the Scottish Central Railway agreement, it must be remembered that they had had that agreement since 1847, it had received their sanction from time to time, and that agreement had been admitted to be the best agreement ever drawn in the railway world.—(Cheers.) They were only to pay, under that agreement, according to the property they derived---(Hear, hear)—and if by any legal course in the courts of the country the agreement should be set aside, the money that had been paid under that agreement would be refunded to the company. He could assure the shareholders that the whole policy of their directors was to promote the railway traffic of the west coast, and the doing so was the consequence of making the advance to the Caledonian Railway Company.— (Hear, hear.) The reason why the accounts of the Scottish Central Railway Company had been placed under the 'Teed of the Caledonian Railway was because they had always considered them as one. With regard to the other question, the Honourable Pro prietor, through being absent from former meetings, was not aware that in the year 1847 the proprietors came to a vote which authorised, nay, bound and insisted upon, the directors carrying on their opposition to the broad gauge ; and considering that the battle had been fought in nearly every court and com mittee, he was only surprised that the legal expenses had been so moderate.—(Hear.) Mr. HADLEY said the returns from the Lancaster and Carlisle and Caledonian lines were estimated in the ac counts at 10,0001. Could the Chairman furnish the meeting with the proportion of each ? The CHAIRMAN said the exact returns had not been received from the two companies, but the estimate was made out in this way-8,5001. for the Lancaster and Carlisle, and 1,5001. for the Caledonian. Mr. HADLEY wished further to know why so large a sum as a million and a half had been contributed to wards the Chester and Holyhead line. The CHAIRMAN said that was an old transaction, and he must go back to 1844 to enable him to answer the question. Mr. HADLEY, under those circumstances, would not press the question. The CHAIRMAN said, it was not quite fair to estimate the value of the Chester and Holyhead by what they saw of it now. The state of Ire land, and the course Government had pursued to wards the company, inflicting such severe hardships upon it, made it not only injudicious but unjust to estimate the line according to its present position. The company had not yet received the Treasury contracts for carrying the mails, while they had had to en counter a severe contest on the subject of the steam-boats; but when all their difficulties were got over, the Chester and Holyhead would be found to be as excellent concern.--(Hear, hear.) The CHAIRMAN did not entertain any of the appre hensions expressed by the Hon. Gentleman, and thought that the line alluded to by him would, under proper ma nagement, be placed in a much better position. Mr. ALSTON, who was very indistinctly heard, Bugs Bested that the reserved fund should be augmented, and that the dividend should be reduced to 6i per cent., in order to accomplish this. He cited the practice of the Bank of England in support of his argument. The CHAIRMAN, in reply, referred to the report he had already expressed, that the passenger traffic, during the past six months, had slightly fallen off, but still it was encouraging. If, however it declined, which was not likely, for he could mention many encouraging symp. toms, they must, of course, submit to a reduction of dividend. The uniform operation of accounts was this :—They were made in July for the dividend in July, which rendered it necessary for them to act upon the reserve fund. The second period of the year was better4ty more than a month than its first portion. For instance, the second period showed 100,0001 more than the first. Having made the arrangements they had for the permanent way, they did not require so large a reserve fund as must otherwise be required. He agreed with him,. that in the position he held in the company he felt more comfortable when he had a large reserve fund.--(Hear, hear, and laughter.) Mr. M. MARTIN said the Bank of England was not ,a case in point. They had to discount bills, and conse quently a large reserve fund was necessary. A PROPRIETOR drew attention to the fact that the loss upon light gold had been 1,8331-50/. a week, or as great as the remuneration which the directors received for their valuable services. The chairman, an eminent banker, would not lose anything by light gold. [Mr. Glyn shook his head.]—(Laughter.) The CHAIRMAN said bankers did not take light gold. The subject had engaged the attention of the directors, and weighing had been tried, but it had been found im practicable. He could mention an instance. They took from one train 5501. Now if they had stopped to weigh the gold the express train might have run into it and caused far greater loss. The loss perhaps was greater because the light was not re-circulated but clipped. It was per fectly marvellous the amount of light gold that found its way to the counters of railway companies.—(Laughter.) He (the Chairman) thought that light gold must surely come to them two or three times o ve r i n th e course o f a year. He The subject should, however, en gage th e i r attention. whether fetihetrhetyheypaid them expected gentlemen them c audit would t h ask ei r o u a nt such paltry sums as they did? — (Hear, hear.) He was quite sure that the proprietors ought to see that their auditors were properly paid. e t o The report was then agreed to. The CHAIRMAN said, that according to the promise he had made, he wished to refer to that part of the report wouldby tuheutdirec- t w u h rs ich at ha a d r f e u f r e m re e n r ce m t e o et t i h n e g, p t r h o a m t is t e he g y iven pro ceed with new works without previously consult. ing the proprietors. They had now to call atten tion to the line authorised by Parliament to be made by this company from Birmingham to Lichfield, at an estimated cost of 200,000/. After full consideration of the matter, the directors had decided that, under existing circumstances, the proper course for them to pursue, is to refer the whole question of this railway to the consideration of the proprietors at the present meet ing. He thought that this question should be delayed to some future meeting. A PROPRIETOR moved that the further consideration of the adoption of the line from Birmingham to Lich field be referred to the Birmingham Committee. The motion having been seconded, The CHAIRMAN observed that he thought the course that had been proposed should be adopted. Mr. HADLEY thought it would be injustice to this company to make a lino from Birmingham to Lichfield. —(Hear, hear.) He believed if the line was constructed it would not pay a half per cent. for the expenditure. There was no population there, and the fact was that it would be making two lines to compete against each other. The resolution was then agreed to. The CHAIRMAN then proposed that a dividend of 3/. 10s. per 1001. stock, and so in proportion on shares of a lower nominal amount, be now declared out of the net profits of the company up to the 30th of June last upon the stock and shares of the proprietors entitled to the same, after mak ing or allowing such deductions as are directed by the company's Act in respect of the amount not paid up, and deducting the proportion of dividend payable in respec of any part for which the proprietors of shares are no entitled. Mr. HtrrenEssoN, before the . resolution was: put, called the a t tent i on o f t h e meeting to the unjust mode in which railways were rated to the poor, arid suggested that if the matter were argued at law a very consider able reduction might be obtained in the poor -rates of this company. The CHAIRMAN was much obliged to the Honourable Gentleman for his information. Their views would be much forwarded if it turned out that the Grand Junction Canal was rated ; he had thought that it was always exempted from rating • During the whole of last session the directors had had the subject more or less und er th e i r consideration ; they had obtained several interview s w ith her Majesty's Government and the Poor-law Board, and a Bill had been prepared, but it had resulted in no thing i beyond g i v i ng them some trifli ng powers of ap peal n certain cases. They had to encounter the most determined opposition of the landed gentry, and there fore he cons i dered t h a t cer t a i n goo d would result from th e combined operat i on of all railways for the p urpose o f o bt a i n i ng some relief from the very unjust burdens which were now thrown upon them.—(Hear.) The resolution was then carried. A resolution was then passed, consolidating certain shares with the capital stock, and after a vote of thanks to the Chairman and the auditors, the meeting separated BUCKINGHAMSHIRE RAIL W AY. The half -yearly meeting of this company took place yesterday, at two o'clock, at the Euston-square Station; Sir Harry Verney in the chair. The following report of the directors was unanimously adopted, together with resolutions in accordance there with:— " The directors, in meeting the proprietors on this oc casion, have to report that the works are proceeding in a satisfactory manner on thd line from Bletchley to Ban bury, and that the Oxford line is in a forward state. The station works, which have been:reduced to the smallest scale consistent with efficient traffic accommodation, are commenced, and the directors hope that the railways will be ready for traffic by the spring of 1850. " The directors, impressed with the necessity of eco.- nomising the expenditure of capitd, and desirous of an c:krating the completion of the works, have decided to lay down single lines of rails from Claydon Junction to Oxford and Banbury, respectively ; providing, however, a double line for an adequate distance at each important station, and putting down the electric telegraph fur the service of the railway. " The terminus of the line already authorised to Oxford, not being so eligible in point of :position or cost, as the directors would desire, measures are now being taken to endeavour by arrangements with the Great Western Company, and otherwise, to provide a better terminus, and to effect a junction (with the re quired accommodation for exchange of traffic) with the Oxford and Rugby Line, north of Oxford. " The directors have taken steps for closing and set tling all outstanding liabilities for those expensive and unfortunate contests which followed the introduction of the broad gauge into the Buckinghamshire district. "By the company's special Act, auditors have to be appointed at each half-yearly meeting. Richard Carter, Esq., ofierd himself for re-election. Edward Cobb, Esq., has signified his wish to retire, and the directors recom mend that Major-General Mac James should be elected to supply the vacancy." A resolution was also agreed to, giving the cordial thanks of the company to the Rev. W. R. Freemantle for his gratuitous services as chaplain of the company. Thanks were voted to the chairman of the company, and the meeting broke up. NORTHAMPTON AND BANBURY RAILWAY. The ordinary half-yearly meeting of the proprietors of this company was advertised to take place yesterday at the Euston lintel, Euston-square ; the chair to be taken at three o'clock. At four o'cock, there not being a sufficient number of shareholders present to constitute a meeting, the meeting was adjourned. But - at the sug gestion of a proprietor, for the information of the shareholders present, the debtor and creditor account was read, which showed that the receipts were 27,849/, and that, after all expenses had been paid, their was a balance in the hands of the company, including the sum of 17,0001. lent to the London and North-Western Company, of 26,9801. 12s. 6d. Mr. JEFFREY deprecated the course that had been pursued by the directors, and trusted that the London and North-Western Company would not allow the shareholders to be fleeced out of their money as they had been. If the directors would allow him to call the next meeting, he would undertake that a meeting should be made. 'rho DEPUTY CHAIRMAN said that the directors were must anxious to have a meeting, and it was not their fault that one had not been made. NAVAL INTELLIGENCE. PORTSMOUTH, THURSDAY.—The Fire Queen steam yacht, Acting Master Allen commanding, conveyed Admiral the Hon. Sir Bladen Capel, K.C.8., the Com mander-in-Chief, to Cowes this afternoon to dino with the members of the Royal Yacht Squadron Club. The Lizard iron steam-vessel, Lieutenant-Commander Hollinworth, left Spithead this morning at 10 30 for Woolwich, to be paid off. The Ajax steam guardship, 60, was hauled alongside the South• jetty this morning to have her additional bal last removed. The Vesuvius steam-sloop passed through Spithead early this morning for Plymouth. The Castor, 36, Commodore Wyvill, arrived at Madeira from England, on the 3d ult., en route for the Cape of Good Hope. The Constance, 50, Captain Courtney, was at San Bliss at the latter end of June, with freight on board for England to tho amount of 2,000,000 dollars. Wind W., fresh breezes, and cloudy weather. ROYAL MARINES. PROMOTIONS AND APPOINTMENTS. First Lieutenant and Quartermaster Edward Pellew Hammett Ussher, of the Plymouth division, to be cap tain, and appointed to the Chatham division, vice Lee, placed on half-pay, dated August 10. First Lieutenant George Drury, of the Chatham divi sion (acting pay and quarter-master at Pembroke dock), to be lieutenant and quartermaster at Plymouth (dated August 11), vice Ussher, promoted. Second Lieutenant Osborne Frederick Charles Fraser, of the Portsmouth division, to be first lieutenant, and appointed to the Chatham division, vice Drury, dated August 11. First Lieutenant James Ainslie Stewart, of the Ports mouth division, to be acting pay and quarter-master at Pembroke-dock, vice Drury. Commissions dated the 14th of August, 1849, will be laid before the Queen, appointing the following gentle men to be second lieutenants in the corps of Royal Ma rines:— James Conway Travers, gent., to be second lieutenant, and attached to the Portsmouth division. Frederick Lewis David, gent., to be second lieutenant, and attached to th e Portsmouth division. The effect of the mock night attack upon this fortress last night will long dwell in the remembrance of the many thousands of spectators of the spectacle. Soon after 9 o'clock the Duchesses of Cambridge and Meck lenburg Strelitz, with their attendants, having arrived at the King's Rooms, where the other guests of the Lieutenant-Governor were assembled, the signal was given for the commencement of the attack. The advancing assailants then opened their fire of small arms and field-pieces, advancing steadily at the same limo from the beach towards the ramparts, the gun-boat brigade on the water, under Major Davies, and the boats of the Excellent, under Lieutenant Burrows, R N., also keeping steadily along the beach in line with the ad vancing troops on the common, and covering their ad vance with the fire from their great guns; a part was also taken on the land side by the Royal Marine Artillery. Gradually the fire came nearer the glacis, and as it did so the illusion became more vivid as to the character of the spectacle. The small-arm men scattered over the Common blazing away at the imaginary enemy towards the fortifications, lighted up at almost every step by the greater flash from the artillery, was an introduction to the grand coup d'oeil, which, to be done justice to, should be pictured by one whose familiarity with such scenes in real warfare would insure that no point of the dazzling whole should be omitted. Eventually the attacking party came within the limits prescribed for the besieged within the fortress to open upon them, when suddenly the ramparts were lighted up with blue fire, and the besieged began their part of the night's display. This was the grand moment of the " night attack," and a more vivid picture of the horrors of a siege could nowhere else have been represented; the troops upon the glacis pouring in their fire in smart and rattling volleys, the great guns and field-pieces lighting up their positions, as every instant they were discharged at the supposed invaders, the fire upon the heights, the cheers of the troops as ever and anon they seemed to be re• pulsed, and again returned to " th'imminent deadly breach," combined with the effect produced by the lights upon the myriads of spectators, lending with their won dering faces another feature to the scene, formed a mag nificent illusion. At length the besiegers and besieged having expended their ammunition, the trumpet sounded " Cease firing," when instantaneously the apparent dreadful strife ceased, and a lull succeeded the " busy din of war." The firing of the boat brigade and the gunners of the Excellent, as also the marine artillery, was kept up with most admirable spirit. Au excellent display of fireworks succeeded the military operations. A the dansant con cluded the entertainments of the day. This morning their Royal Highnesses, attended as yesterday, were present at the trooping of the Guard and the Queen's colour on the Governor's parade field within the garrison, at which nearly all of the distin guished guests of the preceding day were also present. At ten minutes to one o'clock the Royal party left the Government-house, escorted by Lord Fitzelarence and staff, under royal salutes from the platform battery, the Superb at Spithead, and the flag ships in harbour, for the terminus of the South-Coast and South-Western Railway at Landport, where a special train, in charge of Mr. Superintendent Sutton, was in waiting to convey them to London, starting at ten minutes past one. The other noble guests of the Governor also departed after the royal party had left. PLYMOUTH, AUG. 15.—This morning the First Lord of the Admiralty held a levee at Moorshead's Royal Hotel, at which upwards of 100 officers of the Royal Navy and Royal Marines had the honour of being pre sented. During the levee Lord John Hay and other members of the Board visited the dockyard, and in spected several of the departments. At twelve o'clock the people were mustered in the sale-room, and dismissed from duty for the day at one o'clock. Their Lordships then proceeded on board the Agincourt, 72, where they mustered all the officers and crews belonging to the ships in ordinary. They afterwards inspected the ships composing the steam squadron recently established here. This evening their Lordships give the official dinner, which is to be on a large scale, in the ballroom of Moorshead's Royal Hotel. Their Lordships on Monday partook of the hospitalities of Port-Admiral Sir William Hall Gage, and on Tuesday di ne d w i t h M a j or-General Murray, Commander of Forces of the Western District. Captain Milne, RN., Secretary to the Admiralty, had on Tuesday evening a slight spasmodic attack, which confined him to his bedroom. The gallant Captain is occasionally subject to suck attacks, after having under gone great exertion. We are happy to announce that by the last accounts the complaint was subsiding. The ball in aid of the funds of the destitute female orphans of seamen and soldiers, announced for Thurs day, is postponed in consequence of the prevalence of the cholera. Captain Wi3e, her Majesty's ship Queen, arrived per train this morning from Bristol. The copper has been taken off her Majesty's ship Royal Adelaide, and she was lifted ou Tuesday to have her gar_ board caulked. Her Majesty's frigate Alarm was yesterday warped alongside the shear-hulk, where she is to be masted, preparatory to her being put on commission. Tho Linnet packet came in this morning from Fal mouth, andwentup harbour to refit. The Lords of the Admiralty, on the application of the parochial authorities at Devonport, have, in consequence of the prevalence of the cholera, granted them the use of a hulk, which is to be moored off Richmond-walk, near Mutton-cove, with direct communication from Bul lock's wharf to the ship. This accommodation is in tended for the unattacked inhabitants of such filthy and overcrowded places as Geake's-alley, at the back of Marlborough-street, where the disorder is producing the most direful effects. THURSDAY MORNING. —Tier Majesty's steam-frigate Dragon, from Cork, entered the Sound at half-past four yesterday afternoon by the Western Passaga, under studdingsails aloes and aloft, and about five o'clock dropped anchor to tho eastward of her Majesty's ship Queen._ 11 , ,r Majesty's steam block-frigate La Hogue, 60, en tered the Sound at eight o'clock hat night, and this morning saluted the flag of Port -Admiral Sir J. W. IL.II Gage, which compliment was duly acknowledged from Mount Wise. On inquiry this morning we find that Captain Milne has passed an easy ni,ht, and will probably leave his bed .room in the course of the day. Sir Francis Thornhill Baring, the First Lord of the Admiralty, resumes his .levee this morning at ten o'clock, at Moorshead's Royal note/. Wind—S.W.; blowing hard, with rain. WooLwrcu, AuG. 16.—The Desperate steam-vessel, fitted with engines by Messrs. Maudslay, Sons, and Field, was brought down the river to Woolwich today from the East India Docks. M. Drouyn de Lhuys, Ambassador from France, with Madame Drouyn de Lhuys, visited the dockyard to-day, and afterwards proceeded to visit the Royal Arsenal. PORTSMOUTH, Aua.' 17.—The Port Admiral returned from Cowes in the Fire Queen steam-tender this morn ing, and went out to the eastward in her again this after ❑oon, with his band and a party of distinguished ladies on board. A royal salute was fired to-day at Cowes as the Rus sian steam-frigate Kampchatka passed, with the Grand Duke lieutchtenburg on board, for Madeira. The Persian, 16, Commander Bullman, arrived at Spithead from the river this morning, to embark super numeraries and dispatches for the West Indies. The Stromboli steam sloop, Commander Lord Amelius Beauclerk, returned to Spithead from the royal squadron this afternoon. We beg to call the attention of Mr. Cobden to the fact of the Superb, 80, at Spithead, having been at that an chorage about seven months, doing nothing. She has been fit for any station for months; her crew (although 300 short of its proper number) is in the most forward state of discipline, and up to their work. On Tuesday, at 11 o'clock P.m., when all were snug in their berths and hammocks except the watches, Captain Purcell, without any previous intimation to any one on board, had the drum beat to quarters and clear for action. From the time the officers and men jumped out of their berths, got on deck, cleared for action, and went through all the movements of loading and firing, only 5 minutes and 55 seconds had elapsed.— Times. The Flying Fish, 12, Commander Patey, is proceed ing rapidly with her outfit. Wind W.; fresh breezes and cloudy weather. CHATHAM, AUG. 17.—The Melampus, 42 guns, Cap tain T. 11. Mason, has returned her stores to the dock yard, she is stripped for paying off. Her crew is now assisting the Meanee, SO guns, in returning stores she has brought from Bombay. Both these ships were to have been paid off last week, but owing to the Meanee having on board a vast number of packages, furniture, &c., she has not been able to get clear of them. It is now expected that both ships will be paid off on Wed nesday next. _ _ The Juno, 26, preparing for commission, will be put out of dock on Monday next. The Hood, 80 guns, and the Severn, 50, ordered to be built at this yard, have both been taken in hand this week. These ships are to be built in the new slips, at the east end of the yard. The Ist company of Artillery and the Royal Dock yard battalion commenced ball practice, firing with their field pieces, on Wednesday, the 15th instant, down by Gillingham-bridge; and the 2d company of the Artillery practised at the same place in the afternoon of the 16th instant. Their firing on each occasion was vary good. WooLwicu, AUG. 17.—The Lizard steam-vessel, Lieutenant-Commander Hollingworth, arrived at this port at one o'clock P.M., from South America, to be paid off. THE SUN, LONDON, SATURDAY EVENING, AUGUST 18, 1849 ASSIZE INTELLIGENCE. NORTHERN ClRCUlT.—Liverpool, Aug. 17, CIVIL :SlDE.—(Before Mr. Justice WIGHTMAN. HIGGINSON AND OTHERS V. TURNER AND OTHERS. In this case Mr. Watson, Q.C., and Mr. Coaling ap peared for the plaintiff; and Mr. Martin, Q.C., and Mr. Compton for the defendant. Tl:is was an action brought by the plaintiffs, Mr. Jonathan Higginson, Mrs. Higginson, and Mr. Dean, as executors and trustees of the will of the late Mr. John Higginson, to recover from the possession Of the defend nuts, who are the assignees of the late firm of Barton, Irlam, and Higginson, of Liverpool, who became bank rupts in November, 1846, certain shares in different companies of which the late Mr. John Higginson was the owner, and which were left by him to the uses declared in his will, but which had been seized by the defendants as assignees of the bankrupt firm of which Mr. Jonathan Higginson, the sou of the late Mr. John Higginson, was a partner. It appeared that the late Mr. Higginson by his will devised 600/. a year to his widow, and 1,0001. each to his sons, leaving his wife, Mr. Jonathan Higginson, and Mr. Dean, executrix and executors of his will, to dispose of the property according to the trusts declared in the will.• Some of this property, which was in shares in different companies, being undisposed of, had been transferred into the name of Mr. Jonathan Higginson, as executor, and had been taken possession of by the defendants as his assignees under his bankruptcy. Evidence was then given that the late Mr. Higginson was owner of five 1001. and of five 201. shares in the St. Helen's and Runcorn Gap Railway, paid up. The 1001. shares were worth 201. each, the others unsaleable. He was also proprietor of ten 1 0t. shares paid up in the Liverpool Cemetry, which, " since the burying trade had become brisk in Liverpool," were worth 50/. He also held a share in the Union News Room, the payments of which were iu arrear, and it was of no known value. He also owned one share in the athenaeum News Room, worth 21. 125., and one share in the Exchange News Room, worth 2201., and some shares in the Commercial Bank of Liverpool. These facts having been proved, a verdict was given for the plaintiff for the amount proved. Verdict for the plaintiff—Damages 422/. SPOTSWOOD V. BARROW AND ANOTHER. In this case, a report of which was sent yesterday, the jury, at five o'clock, returned with a verdict for the plaintiff. A great many civil causes have been settled and other wise disposed of today. The cases in the Criminal Court were of the most uninteresting character. POLICE INTELLIGENCE. BOW-STREET. The following complaint was made to Mr. HENRY, the sitting magistrate, and has reference to a dispute of fre quent occurrence in the district : A poor woman named Todd stated that her husband had been lying dead at King's College Hospital since Monday last, and she had not the means of burying him, The directors of the hospital alleged that they had no funds to appropriate to such a purpose. The parish of St. Giles, in which the deceased had resided, refused to bury him, because the death occurred in the Strand Union; and the guardians of the Strand Union declined to undertake the burial of the deceased, because he did not belong to their parish. Thus there was at present no prospect of the body being interred, although it had become decomposed and offensive—the deceased having died of typhus fever, with which he was suddenly at tacked in the streets. The widow added, that her hus band was a labouring man, and had no friends or rela tives who could assist her. Mr. HENRY observed, that the frequency of these parish disputes was much to be lamented. The parish of St. Giles was no doubt relieved of the liability, in such cases, by a recent decision in the Court of Queen's Bench; while, on the other hand, it would be very hard to make the Strand Union responsible, simply because the hos pital happened to be situated in that district. His Wor ship inquired of the woman how long she had lived with her husband in St. Giles's parish previous to his decease? The woman replied that they had resided there up wards of 18 years. Mr. HENRY thought that the overseers of the parish of St. Giles would hardly persist in taking advantage of an accident like the present to avoid an expense which could not be very serious. An officer present stated that the expense was about 245, usually. . . His Worship then sent a constable to the relieving officer of St. Giles's, to represent the urgency of the case, and the probable danger of keeping the deceased unburied any longer, and shortly afterwards the Court was informed that the parish officer of St. Giles's had consented, "for this once only," to inter the body. Laura Brown was charged with obtaining goods from Messrs. Snoolbred and Co., Tottenham•court•road, under false pretences. The prisoner had been in the habit of sending a lad named Carpenter with written orders, in the name of Mrs. Clack, an outfitter of 102, Oxford-street, and the goods were invariably supplied, as Mrs. Clack was a customer of the prosecutors, a fact which had become known to the prisoner by her being occasionally em ployed at the shop of the former. She was committed for trial on two separate charges. THE COUNTRY MARKETS. WAKEFIELD, AUG. 17.—There is a good supply of the leading articles. The demand for wheat is slow, millers purchasing only for immediate consumption, at a decline of is per quarter. In spring corn we note no alteration; or, if any, rather in favour of the buyers. _ _ New. WHEAT, per qr. 601bs per bushel: s. s. Suffolk, Essex, and Kent, red ... 47 to 49 Ditto, white 50 52 Norfolk and Hunts., red ... 46 —4B Ditto, white ... ... 50 52 Lincolnshire and Cambridge, red ... 45 47 Ditto, white ... 50 52 Yorkshire, red .., ~. 45 47 Ditto, white ... ... 50 52 Dantzic and Konigsburg, white .. 48 —52 Lowerßaltic and Hamburgh,:red.... 44 46 Mediterranean, red ... 38 42 BARLEY, per quarter of 8 bushels:— Norfolk and Suffolk... . Lincolnshire and Yorkshire Scotch Grinding per 30 stone ... ... 22 —24 Foreign ... ... 24 28 BEANS, per quarter of 8 bushels 631 b Small, fine ... 32 — 35 SO 33 . Foreign ... .. 28 31 OATS, per stone:— Bleating . 93 to 101 d —d to —d Feeding ... 84 to 104 —d to —d Foreign ... 8d to 10d —d to —d SHELLING, per loal of 2611 b —. 24 —25 MALT, per load of 6 imperial bushels 38 41 PEAS, per Imperial Quarter Blue and white boilers Grey and Feed Old. 8. 9 to 30 - 32 29 - ... 30 - 33 ... 26 - 28 ARAI' I• VALS. Qrs. ▪ ... 12,133 ▪ ... 1243 644 342 413 Wheat Barley Oats ... ... ... Beans— ... ... ... Qrs. Rapeseed ... ... 86 Shelling ... ... 315 Linseed .. Malt ... . . Flour Tares ... ... .. NEWBURY, AUG. 16.—Our supply of wheat pitched to-day is much smaller than for many weeks past, and we have a thin attendance of farmers with samples. The demand is rather better than of late, yet the prices given do not generally exceed the rates of last week. There were a few samples of new on offer of fine quality 134.,r1ey, beans, oats, and peas, short supply, and dull i sale, at Imo nite,;. LIVERPOOL, Aua 17.—We have had unsettled wer thee the last two or three days, but it has had little in fistel,cA on the corn trade, and prices have scarcely varied. At this morning's market there was only sle: der attendance of town and country millers. Th e sales of wheat were quite in retail, with( ut any change Is value. Tae best brands of flour were in good request, and full prices were paid. There was no alteration is oats, barley, beans, and peas. Indian corn improved 15 per quarter ,and a fair quantity found buyers for Ire • land, but the market closed with rather less confidenc e in the article; the best white corn sold at 28s to 295, and yellow 27s to 27s 6d per 4801b3. EXETER, AUG. 17.—Cattle The market has no t be-•n so well supplied as of late, although mor e than the demand on the markets required has been drivel in. Fat beef hardly worth so much as last week; th e general quotatio n b e i ng 8s t o 8 s 6 ( 1 per score; cows and calves, 81 to 13/; good fresh barreners, 5s per score; butchers' calves, 41d to 5d per lb; fat wether sheep, sd; ewes, 41d. Pork Carcases—A very small supply at s t considerable advance, prices ranging from 8a 6d to 95' per score. Pannier—Turkey Poults, 5s to 6s each; geese 4s 6(1 to 6s 6(1 each; ducks, 3s 6d to 2s 6d pe r couple; fowls, 55 6d to 4s ditto; rabbits, 10d to is each; leverets, 2s 6tl to 3s 6d ditto ; pigeons, is 9(1 per couple; eggs, 16 to 18 per Is; butter, 10d to 1 Id per lb. Potatoeo 7d to 10d per score; turnips, 8d ditto. Corn Exchangl —The business transacted to-day has het nof a limite d amount—scarcely any samples being o ff ere d. Th e be_, l s ' , English wheat has sold at from 5 s 4d t o 5 s Bd , warra nted samples. Foreign red 425, and white, 45s to 48s per English barley about 3s 9J. English oats, n ew , 2s 4d; old, 2s 8d to 2s 10d per bushel. Fine Haut., 32s to 3{5 per sack of 2801bs. BRISTOL SUGAR-MARKET, AUG. 17.—A few board` of West Indian have been disposed of this week to the grocers, generally at former r a t es , b ut some sal b e , in refining sorts show a decline of f u lly I s 6d pe r co' particularly in sugars at 365. The refined market is and altered, and the demand is only partial. Rum unask e for, and prices purely nominal.—Bristol Mercury. , DARLINGTON, AUG. 13.—There w as a f a i r s upri sales dull. Wheat, 13s to 14s; oats, 4s 6d to 6s; beans' 8s to 9s; peas, 8•1 to 8s 6d; barley, 7s to 7s 6(1 per boll' a RIPON, Auc 16.—We had a good supply of grain, as every description dull of sale at last week's price,' White wheat, 6s 6d to 7 s; re d , 6s to 6s 9d per bushel; barley, 26s to 30s; oats 18s to 22s per qr. SCARBRO', Auc. 16.—There is very little doing in th e corn trade, wheat is rather lower. Oats aro reaciili taken at our quotations. R e d w h ea t , 6 s 3 d to 6s 9,1! white, 6s 6d to 7s per 5 st ones; bl ac k oats, 8d to 9 "' white 9d to 10d per stone; superfine flour, 40s to 41 5 ; seconds, 35s to 363 per sack of 20 stones. • SY STOCKTON. ON - TEES, AUG. 15.—We have good error of wheat and barley for the past week. This m orning we had a fair 'show of wheat fr om th e f arme rs, 1° „/ which there was a steady d eman d a t th e f u ll pr ices this day week. In foreign there is no variation from ,4 ° last week's prices. Grinding barl e y i s i n f a i r demand at our quotations. Oats without chan ge . B eans the turn lower. Wheat, 48 quarters, 44s 4d. I m p or t s coastvvl.e ,; wheat, 1,042 ; barley, 325. F ore i gn, w h eat , 86 barley, 370. DENBIGH, AUG. 15.—Th ere was a tolerable atten. cl i ; arc° at to-day's market, and business was rather brfa ; but not much variation in pri ces . Wh eat, 16s to 16e',r, barley, 7s 6d; oats, 7s to 7s 6d ; p er h o bb et; f res h 10}d; salt ditto. 8&d per lb. ' Run, AUG. 14.—As we anticip a t e d, th e harves t le a terfered with this day's market ; both farmers Il b ts factors were scarce, and very littl e b us i ness d o ne, there were no change in the quotations. so RUTHIN, AUG. 13.—The attendance to-day will , e 4 small that it scarcely bore the app earance o f a mark and the business done was of no importance. •WI INVERNESS, Au.. 14.—New wheat, p er quarter trelg 621 b per bushel, 45s to 50s ; barley, 541 b p e r bush e s 23s to 00s; oats, 421 b per bushel, 21s to 22s Od ; seed oats, P qr, 421 b per bush, Os to Os Oatmeal, per imperial boll, 16s second, 15s ; barleymeal, 1 I s 8d ; peasemeal, 14s to 15s ; bi l d; per atone, Od to 8d; first flour, per 2801 b, 36s to 375 ; gel ; 28s; oatmeal, best, per stone of 141 b imp er i a l, I s 8d t o Os second, Is 6d; barleymeal, is 4d; peasemeal, is 6d; first 2s 9d cash, 3s credit; second, 2s 3d cash, 2s 6d credit. 1', 0 4 3 toes, per stone, Od to Od ; beef, per pou n d, 4d t o 7d ; Yes'', t o to 6d ; mutton, 5d to 8d ; p or k, 4d t o 6d ; f ow l s, eac h, 19“ to 14d; chickens, per pair, 12d t o Ad ; d uc k s, each, 1 3 : A t o 14d ; eggs, pm dozen, 6d to Od ; butt er , f res h , per lb, Od; salt, lld to 12d ; croudie (curds) 21c1 to Od ; four-Pl, loaf, cash, 6d to 7d, c re di t , 6id to lid ; coals, per cw t, 9 hay, per stone, 7d. E. s l ' COPPER ORES MINING SOLD I N AT TELLIGEN SWA NSEA, Ca, Auo. -- T Ot et 1,274 tons ; average produce, 14 ; quantity of fine OPP 178 tons 3 cwt.; amount of SAL,sae, 12,831/ 9s Od. COPPER ORES FOR EAT REDRUTH, AUG. . 40 15 Wh. Josiah, Wh. Fanny, Wh. M ar i a, an d W h. AnnaiToei I,2l6—Fowey Consols 338—W es t C ara d on 325—Mark ..rvlited 246—Wh Henry 240—Wh. F r i en d s hip IB9—Bedford B4O( 119—West Fowey Consols 100 —Holmbush 76—Wh• 1 6.0' 58—Wh Pink 54—West Wh. Jew e l 53—T amar Slag Polgooth 12—Total, 3,041. , COAL MARKET.—YE STE R DAY . i 7 g 6,1 Chester Main lss Od Rus se ll' s H e tt on ...... "- 4)4 ll°lywell Main lss 6d Ste war t' s New Tanfield 9d d css W a hi o t ; ell .............• li o o ! West Hartley 16' Wall's End, &c. Hartlepool 165 9a Gibson Heaton Northumberland Eden Main .. l7s OcifWhitworth l4 '3 0 Bell Belmont l7s 3o;Cownden Tees .......• t 51 0 Braddyll lietton ... lBs OdperwentwaterllartleY I' 6 ' Od Lambton Lumley l6s Odi Ships at market, 5 4 ' 4 ' RAILWAY SHARE MARKETo' .;T 17. STOCK EXCHANGE.—The share market was depressed to-04 ittle business doing. Great Western, Q uar t ers, were d one at LIVERPOOL, AUGUST 17. folio STOCK EXCHANGE —The transactions to-day were as Aoa l ,„„ d oe Great Northern, Preference, 5 per cent., 2% ills.— Ditto (l if tph and York Extension), 1% dis.—Lancashire and Yorkshire 2dis.—London and North-Western, 127 N—Ditto, New ( 2.7i D l- oe % p.—Midland, 62% c.—Ditto, Halves, 14% dis.—North Ch i (13), 156— South-Eastern and Dover, 214—Ditto, (No. 4 ) , • (114. York, Newcastle, and Berwick (extension, No. 2, N. an d . B), • A —Ditto, (G. N. E. Purchase) 6 per cent. till 1850, 4% dls. MANCHESTER, AUGUST 17. STOCK EXCHANGE.—The transactions to-day were as fo 11 , ° ;;;11 0, North Staffordshire, 6% di s .—M anchester and Sheffield, .., c.— Great Northern (A), 3 78 — West Riding Union, 4 7- 16 ,„ 4) , East Lancashire, 16 % —Lincoln Union, 3 1-16 di s .—D ove r• Scrip, 6 13.16—Manchester and Birmingham (C), Quarters,. 27 London, Fifths, 4% c. p.—Sheffield, Preference, 11%. BIRMINGHAM, AUGUST 17. ,ft STOCK EXCHANGE.—The share market i s s t a ti onary, The rel s • ji g of the Great Western Railway C ompany, although the diviee „ d 01, low, is considered is some r es p ec t s satisfactory. Birroing ,- ,get Dth.ley, and Wolverhampton were quoted at 5. The share in " - a nd may be expected to be inactive until the result of the Londo n North-Western and Midland meetings are made known. YORK, AUGUST .16. fOY STOCK EXCHANGE.—The transactions to-day have been • ju • low : —Great Northern, B%—York, Newcastle, and Berwick E. Purchase), 3/. 6s. 3d. GLASGOW, AUGUST 16. Sroca EXCHANGE.—The transactions to-day: were as follow :A; .Aberdeen,nci Glasgow, Preference ,Bl— E 6—G d n l rgh asp Perth, hand and Du Greenock, ndee 16 Great Indian Peninsula, 123. 6d. ( Ne w port),—poErtd)l,nb6l"l7:' BRISTOL, AuGus! ROYAL DISPENSARY FOR DISEASES OP THE DEAN-STREET, SOHO. SQUARE.—Last week the h alf . , yearly meeting of this i ns ti tut i on took place at the Pi% pensary, Dr. Richards in the chair. The secrets r o , t read a brie report of the p rocee di ngs, and the amoulithe subscriptions r ece i ve d d ur i ng the last six months; th e charity having b een a id ed by the subscriptions o f t o Queen Dowager, the King of the Belgians, the M is t s he Tilney Lo ng , an d ot h ers. At resent the resources o f be t claims were f oun d inadequate to meet not °DIY be r cllims upon the charity, but also the increasing nu ai t he oi applicants for relief. During the last six anon Ss 458 fresh cases were entered upon the books, ar ia % were discharged cured, many of which were 01 the standing. The committee, therefore, appeal t e „det friends of the institution and the benevolent to rt, t o. them assistance for carrying out these important obj.`' v A vote of thanks was passed to Mr. Harvey, the surgeeir: and to Dr. Richards for his kindness in taking the c d l2 lll [ADVERTISEMENT.]—Scorbutic [Tumours cure—gr. Holloway's Ointment and Pill s . —E xtract of a letter froTjoe George F. Williams, of Blackrock, near Cork, d a ted f o r l ou r l a B a 4 t B i a . and d fes f s o o r r tn H o ol i l n o f w o a r y m . atio S n ir, o — f I th b e e wonderful effects your Ointment and Pills have had upon T ile faction, last seven years my eyes have been dreadfully sore. . Do ‘ i ii ; that period I tried almost every remedy without obtaining 1 40 I have suffered severely from scorbutic humours; and for r le• least relief ; at last I was prevailed upon to use your invalua ble medicines, which I did, and I am delighted to say that 1 _„•s perfectly cured by them." Sold by all druggists, and at FP' fessor Holloway's Establishment, 244, Strand, London. gaintoiestt:ad,e_thee, --- I BIRTH'S. area On the 12th inst., at Tunbrid g e-w e ll s , th e w if e of A. -- t J. Beeching, Esq., of a daught r. , A On the 15th inzt., at Woodcote, the Lady Louisa Cote' • a daughter. , P On the 15th inst., at Beckenham, th e w if e of CO r e i Hankey, Esq., of a son. i P On the 15th inst., at Carlton-villas, Holl owa y, the Wif e l . E. B. Elleiy, Esq., of a son. c On the 15th inst., in Cadogan.place, Mrs. Johnstone' Beaconsfield, of a son. _..-, MARRIED. On the 14th inst., at the Holy Trinity Church, PaddLoT o r Mr. Francis Giles, to Jane, widow of the late George mick, Esq. n be° On the 16th inst., at St. Peter's Church, Sudbury, Ransom, jun ., Esq., solicitor, to Emma Jane, only sury“ - daughter of the late Mr. B. Pratt. k hir er' On the 16th inst., at Edgbaston Church, Waffle - 1 14i- John . Miller, Esq., Lieutenant in her Majesty's 10 1 .. "Ideo, , • ment, and only son of the late Captain Miller, of •Di e , r ,'p r in the county of Warwick, to Jane Isabel, eldest daug" - tp Charles Shaw, Esq., of Greenfield-house, in the same cou On the 16th inst., at St. Stephen's, Coleman-stree t ti ter ward Kynaston Bridger, Esq., to Augusta, second daub of the Rev. John Bathurst Deane. u On the 16th inst., at Sutherland Chapel, waiwortm pd George Wood, of Canterbury, to S usanna Mountie r, se bervvow ell, _,, e ,, , daughter of Mr. John Budden, Grosveno r -st re et, _ so On the 16th inst., at St. Peter's Chur c h, Eaton to Captain Katon, 11. N., son of the late Admiral Ka„t c il ' o lelo Catalina Paulina, widow of the late Admiral the Hon- 1 - , Fleming. DIED. h ar On the 2d inst., at Caen, Normandy, Hsnry C 46. Duckle, of Pilham-hall, Gainsborough, Esq., M.D., ag e d the Oo the Bth inst., at Paris. Madame St. Blanca , eldest sin viv'ng daughter of Edward Wilbraham, Bsqq.,, of ceased, late of Cirencester and Horsley, in the coup Gloucester. (fr On the 11th inst., at Butt-hatch, John Barnes, x , ,, e; e`l Mile.end, Middlesex, and Havering-atte-Bower, -"" e ' , aged 52. -Kr thaw On the l ah inst., at Ilfracombe, North Devon, iNg. — Vye Lee, E , q., aged 71. „,„," ~-„ London: Printod and Published by MURDO YOLL. O 11 No. 112, Strand, Printer, at Th e Sun Office, D 0 •,.., Strand, in the Precinct of the S4voy, in the cellou Middlesex, Saturday, August 18, 1849, I