The Sun. — London, England, 1849-08-17 00:00:00

frbtrb Wibition SUN OFFICE, Seven o'Clock. LONDON AND NORTH-WESTERN RAILWAY.—(THIS DAY.) The usual half-yearly general meeting of the pro prietors of are London and North-Western Railway was held this morning in the great hall of the Euston Station ; Mr. G. C. Glyn, chairman of the board of directors, in the 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 wading 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 we 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 sims tion, and could follow the examples of many public companies in London, who, although they hold two halt-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 fluctuations that now arise. —(Hear, hear.) But, gentle men, having said this with regard tb the use of the re served fund, and explained that our taking a great pr portion of it on the present occasion, raty 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.—(Hear, hear.) 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. —(tlear, hear.) London has done it s dut y; but at Li v erpool, 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 eith 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.—(Hear, hear.) From Ireland, gsnth man, which is of course a considerable source af traffic to this line, 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 more even than the effect of the com mercial distress of that period, is to be attributed to the legislation on railway matters in the years 1845 and 1816.—(Hear, hear.) I attribute to that legisla tion—that over legislation—that reckless granting of new prejects—a great deal of the mischief, both in com mercial matters and also in railway matters, which we arc now decidedly suffering under.—(Hear.) We cannot expect, gentlemen, the revival of our passenger receipts until the t onimunity 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 stiff red.—(llear, 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 tree pocket is full of money that a man with a family turns round from business to see whether he can venture forth to eijoy himself—to see where he may go for re cre.stion, and, under these circumstances, we cannot bele ler a revival of our passenger receipts until all these disasters to which I have referred have been en tirely overcome.—(Flear, ht ar.) Now, if I am correct, gi n li men, in attributing the depression of railway tretlic in general to this cause, there is at any rate this satisfaction connected with it, that it is cause of a pa-sing character.—(Hear, hear.) I cannot kelp feeliree when I look around in the manufacturing districts of this great country, that there is decided evi der ce at this period of a very great—though it has been graeual—,inprovereent ; and if the prospects of the harvest should be blessed with plenty. I see no good reason why we may not look fore ani with a great degree of confidence to a we'll to the position which we occupied in the years 1847 and 1848.—(Hear, 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 exagi;erated by those schemes and projects which at that time were got up and thrust upon the public, and which prodecad an exi.enditure in railway travelling of a most extravagant, and, as it afterwards turned out, of a most &trim. teal character. But, gentlemen, if the passenger traffic of the present halt-year has not realised the anti cipetiens 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 tregic, and our accounts present a very d tr,rent teaturs: in that respect. (Hear, hear.) Ueort the goods traffic we are enabled to report that, for the half-year ending 30th of June, 1849, it antount,d to 385,000/. ; whereas in the corresponding half-year of 18i8, i, 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 energy, activity, and pro ceedings generally which have characterised our agents under the new system of goods traffic upon which tr•at pert of our business is now bast d, if we pa sad them over without some remarks. They have certainly conducted the goods traffic in a way which leads us to look forward to a still further increase, nut only in the activity which they now exhibit generally, but also in the amount of fice.mmodatioa which is afforded to the public.— (Cheer-0 There is one other point in connexion with the accounts before you upon which also, gentlemen, I have a sight to a-le for your approbation— I allude to the reduction Ai the working charges. Ido not say that the le duction is very large, because it is rigl t that you should understand that the system which we announced to 3ou 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 stem; but we loots 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 othervkise, that this subject still occupies the attention of yotir directors, and that while I have no doubt we shall be Ale to refer to retrenchments in particular parts of tho service of the company, I am happy to say that the business is conducted with more than usual regularity, and with perfect efficiency in every branch. Gentlemen, when you have the report read to you, you will see that a deputation has been appointed by' the board to enter into negotiations with the Mid land Company. I am happy to state to yon 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, tl at the arrangement has been made with the Midland Company, which I have no doubt, in working, will be proe ctive of the interest of both companies (Loud cheers) —th Lt it will secure to you a more full development of ;our merchandise traffic in particular tt en any other system of action with them that could be devised, and at the same time it is regu'itt , d in sueb a way, that it any difficulty should arise under it the system may flatus time to time be re-arraegert, thus avoiding, in point of fact, any detrimental consequences to the interests of either company .—(Cheers.) The arrange-meat 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 th e traffic, and a large branch—to use a th !reateile expression, I will say we have entered into a pint account which I think will prove most beneficial to the interests of this company.—(Cheers.) There is also a, other point;, gerflortlemeu, upon which I wish to occupy ur attention f o r This is the first o cation on which mode e o len in the accounts any re ference to the peculiar working the system, which we have proposed for th k a e t e o p t f i, t in order our per manent way. I ' , trot o ut all of you have the executive seen in print the report made' m te ) . ' officers of this company to the boardyo A: ter certain alterations, that report was n adt t f subject ' b ardo and we are now carrying it out, acd—iliby the this -- we wry it out to your advantage.—(Hear, bear " to tht era.) The principle of the system is simply to the permanent way—that is to the we are appl) ing duration of rails, chairs, and sleepers—we are applying to them exactly the same system which a life assurance office applies to the carrying on of its business. We have upon evidence, which is open to the whole world, and which cannot be gainsaid, arrived at certain conclu si, ni which authorise us to say that in a certain number of years the permanent way requires replacing.— (Hear, hear.) We have found out by practical results how much it will take per annum to arrive at a sum, at the expiration of a certain period, wh ch will replace the whole line. We propose that every halt-year the necessary sum to be given to the an- P 441 "°"" shall be taken l 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 ness; and we 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 out 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 v iew 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 signet of experience it has never been fairly lcoked into, I thought it advisable to take advantage of the fir s t o pp o rt u nity which presenteditself to enter into some account of the reasons which have induced us to adopt it. When we last had the pl easure o f mee ti ng 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 certain, 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 attended by two of the Railway Commissioners, Mr. Labouchere and Sir Edward Ryes, and after much . par ticular discussion on the merits of the measure itself, and after explaining to Lord John Russell the views of the railway bodies generally a s re g ards thevsub su b jec t of additional audit, Lord Jo hn R ussell h ailway Companies, m ly and explicitely declared to us, that it into our i nc lined we, werebands, he t o was take nota t measure he m ofa the R n a d w d h i o ti o w n a a s l audit anxious to bring railways under the crontrol of the Go• vernment for thatpurpose.—(Cheers.) In consequence the Bill was in a few days after that declaration withdrawn from the House of Commons.—(Hear, hear.) The de puties who represented the railway interest at the meet ing held subsequently to the witddrawal of the Bill, adjourned 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 different railway companies, that they'might, when they met again, either receive personally from the proprietors their opinions, or receive suggestions from them in writing, if they so think fit,—that they might, in fact, ' receive suggestions in some mode or other re garding the measure which it may be the duty of railway directors themselves, or railway proprietors themselves, I would rather say, to introduce into Parliament next session. And, gen tlemen, I beg to state that if the proprietors think it worth while, and I bore they will not neglect the occa sion, to enter into the question and offer suggestions to that meeting when next held, I trust they will come forward and do so, because I can speak confidently of those who attend this meeting that they entered las diligently as they could do into the subject which at the time I mention we had in view—namely, to defeat the measure of the Government, which would have taken from you that power which at your special meeting you said you would not surrender. That was the subject which, 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 session, which might emanate from the proprietors themselves. I told you at the last meeting, and I now repeat it again in the face of any observations that may be made upon it, that I believe that the powers which yea now possess under existing Acts, if you will only take the trouble yourselves to see properly carried out, are effectual for the purpose of a lull and complete audit.--(Hear, hear.) And I do not think it quite right and fair that the absence of attention, on the part of proprietors, should be thrown in the teeth of executive bodies who opposed the measure to which I have referred.—(llear, hear.) Recent experience, gen tlemen, tells me also that the powers under existing Acts possessed by proprietors, when exercised, are ample and sufficient ; but when I say that I will add my ow❑ individual opinion that, judging from the experience which I have obtained during the past, I, as a proprietor, should not be content with leaving Parliamentary powers exactly as they now stand.- e -(Cheers.) Why, gentlemen, do I say this ? Because times may arrive again when proprietors may pass from their present state of activity into which they had been raised on those questions, into that calm and dreamy state in which, when they are getting large dividends, they were so apt to fall into. And, gentlemen, it is on account 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 bo 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 resolution passed at the last met tieg, would be sufficient and entirely sufficient for the ob ject which I have in view. And, gentlemen. when I 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 railway 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 ft nding railway directors, one of the classes alluded to, b. cause it is their duty to bear all those remarks that, are thrown out against us, whether deserved or not; but I do think it a hard imputation against a class of men whose livelihood depends upon their professional exertions—l mean that class who hold a considerable stake among commercial men, the class of public account ants. It is hard upon them, it is unfair that it should be supposed possible that because they are appointed by men like those before you—it is unfair that they should be subject to be dealt with, which, if I properly interpret it, means, that they can be easily bribed by the met sitting behind the bar. Is it likely that men occupying a high position, as from their position they occupy in the commercial world, where subsistence depends upon the good opinion of commercial men—is it possible to think that such men will lend themselves to such proceedings as these? On the contrary, they would be the first to show up any ro ceedings of this kind, and hold up to shame and obloquy, any attempt, it made, it it could be or dared, be made by any executive body. I think it is bard to suppose that it. is possible such men could be dealt with in this way by the executive body of the company. It is hard upon them, 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 for any trumpery offer that would be made to him by a mile ay company would risk the loss of that which gives him his place for life, that he would conceal or alter any accounts placed before him ? Such a thing is altogether unlikely. .1 am anxious, and so I have no doubt are you, for the reading of the report.—(Hear, hear.) I have often ad verted to the question of the capital account, and I hope the time has now arrived when the operation of the capi tal account 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 Flan be brought more under the cognizance of the proprietors.— (Hear, hear.) I conceive that some system may be adopted by which the directors may take from the proprietors a vote on account, and that the directors at some future meeting might account for the amount of that vote.—(Cheers.) I believe that if such a plan was adopted it would obviate great difficulty. In railway trans actions I am ready to admit it is often impossible, with an increased business, that the accounts should be ready at the particular time—(Hear, hear)—but the shareholders might depend upon it that every exertion %%mill be made to produce so desirable a result. The transactions of this company, I am happy to say, are in creasing; the mercantile transactions of this country are, I em happy to say, also improving; and such being the case, I think it is a sound principle that all votes of money should be placed under the control of those who voted it. —(Lheers.) I have nothing more to add, except to state that we stand before you under circumstances of great anxiety. It is our duty to give an account of our whole transactions, and that we have endeavoured to do.— (Cheers.) In all that the directors have done, they have considered the interest of the proprietors. They have been obliged, and they could not avoid entering into many projects that the 1, gislation of 1845 and 1846 compelled them to enter upon. The shareholders, therefore, could not throw upon them that as matter of blame.—(liear.) The dire ctors came before the proprietors to show to them w hut they bud dune. It was true they had done some deeds at which the shareholders might be asto nished; the directors might have done some deeds at which the proprietors might be astonished—they might have done th , m mistakingly—(Hear, hear) —but this I will say, whatever acts they have done wrongly they have done the m innocently and with the best intentions.—(Hear, hear.) The directors have acted throughout in an endeavour to be the faithful stewards and trustees of the proprietors ; and, whatever we have dune, if cur acts aro to be examined into, we have no fear for any control or any audit that may take place.—(Cheers.) Mistakes % eway have m.-..de,—(lle or, heat)—they have L , en v honestly made, and we look confidently to the approval of the shareholders both in Loudon and elsewhere. The CIIAIRMAN then culled upon the secretary to read the following report:— " In submitting to the proprietors the usual half-yearly review, the dir ectors have to report a diminution of the passenger traffic, as c omp aredwith the same period of 1348, to the extent of 22,1891. This decrease may be attributed to various causes. The suspension of the relief of troops by Go vernment has reduced in the receipts 4,5004, and the loss of o ne d ay (1848 being may be estimated at nearly 5,0001., in comparison of ti r f e t a h r e ) produce of the two corresponding half years. A further A ,eta ase may be found in the lessened amount of travel , ling throughout the country, and in the establishment of new, though distant channels of communication, attract ing some of the traffic which has hitherto passed over the London 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 net increase of profit of 28,8861., 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 irquiry showed that an annual appropria tion 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 22,050/. per annum ; one-third being charged in the spring, and two-thirds in the autumn half :year ; and the sum of 7,525 1 . is accordingly deducted from the re venue of the present half - year. " The complex arrangements, and conflicting interests, arising from the opening of new tines of railway,. either directly or remotely affecting the position of th is com pany, have engaged, and . must fur 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 an opposite line of policy. They have gen e rally b een met in the same spirit of mutual concession; h an o y pe se t r o iou o s ve s r a c c o r m ifi e ce. th T e h d ey iffi h c a u v l e tie c s on a c s lu th d e e y d and, encouraged by the feeling now p erva di ng ra il way arise wi thout t t h h o e u y t aommuptaunayl7 andwith beneficialrr eat un with ties RilthaweMayil andland Company, the a Ea is s u te g r e ii ra 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 London 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 eonduce to the convenience of the public, as well as to the prosperity of the railway companies. " The railway trom Leeds to Manchester was opened f)r 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, and Lincolnshire Company, was opened a few drys 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 authorised by Parliament to be made by this company from Bir- mingham to Lichfield, at an estimated cost of 200,0001. After 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 jpat), 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 trom the discussions then going on with the directors of the Great Western Com pany. 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 have 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 11 £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 Out of this sum the directors recommended a dividtnd of 31. 10s. per cent. for the six months, amounting to 565,661/. Os. 8 I.; leaving a balance of 15,5011 19s. id. 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 projteted line from Bir• inigham 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. Mr. HEADLEY, of Birmingham, wished to know before the resolution was put, what the outstanding liabilities to other companies were, and what would be the pro bable cost of the lines now in the course of completion? The CHAIRMAN said with reference to the inquiry of the honourable proprietor, the more satisfactory way of answering it would be to refer him at once to the state ment put torward in October last year, where every thing was given in detail, and nothing whatever had been altered since that time.—(Hear, hear.) Mr. HEADLEY said his reason kr asking the question was this. He saw by the statement that the sum of 25,862,012/. was set down as the sum required to com plete all the lines now in progress. Now, he saw by the present accounts that already 26,225,2881. had been spent, being 363,0001. more than was required in October, and he wanted to know what additional suns 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 required 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 Birmingham Extension, it was true, was put down at 281,0001., to which would have to be added 50,000/. 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. HEADLEY asked what companies the chairman alluded to? The CHAIRMAN said the Great Western was one of them. Mr.HEALDEY—Had the Birmingham and Shrewsbury ? The CHAIRMAN—No, that company has nothing to du with it. Mr. HEADLEY—The Stour Valley ? The CIIAIRSIAN—Yes, as as a matter of course, but particularly the Great Western. Mr. DEAN saw with considerable surprise in the state ment of accounts a charge of 91,3631. ls. 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 be 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 . sutficient importance to d eman d a no ti ce at th e h an d s of the Chairman. lie had a right to complain of the accounts for all that had hitherto been submitted to the shareholders had be en mystified. They were going out of :heir way in purchasing shares in a worthless line, which he submi t t e d it was , b ecause a para ll e l li ne ran a l ong 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 or the purpose. There was also 20,860/. 16s. 7d. paid ~u t of capital for P ar li amentar y expenses in Opposin g the extension of the broad gauge beyond the limits as• signed by Parliament. He could not conceive bow 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 t,ose of defeating the views of the . Great Western Com pany. Then there was anitem of 100,0001. paid under a working agreement with the Scottish Central Com pany. Now when a company applied to .Parliament for powers to lease another line, and their application was refused more than once, he thought it ought to abandon its intention of leasing altogether.—(Hear.) TIM it appeared for the glory of carrying the traffic of THE SU N LONDON, FRIDAY EVENING, AUGUST l7, 1849 the Scotch Central they were to give up all the advan tages which they had. 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 prcceed in an underhand manner. It was said that eminent Scotch lawyers had given a favourable opinion. Now, be should like to see the cases submitted to them. 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 dedegrees and beautifully less. The CHAIRMAN replied that he had no intention to re feet 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 large stake. 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 how to value professional men, among whom he had lived, but when a question of investigating account, was to be decided upon, he preferred the experience of commercial to professional men.—(Hear, hear.) Fr e regretted exceedingly that any personal allusion has been made by him to what had been referred to by the Hon. and Learned Proprietor; he never intended it; and it he had done so he retracted it.—(Hear, hear.) He did not stop him in cense quence 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 ply, under that agreement, according to the propertl 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 b een p a id un d er th a t agreement would be refunded to the company. He could assure the shareholders that the whole policy of then 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 tbr Scottish Central Railway Company bad been placed under the head of the Caledonian Railway war because they had always considerd them as one. With regard to the other question, the Honourable Pro prietor, through being absent from tormer meetings, was not aware that in the year 1847 the proprietors came to e vote which authorised, nay, bound and insister! 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. HEADLEY said the returns from the Lancaster and Carlisle and Caledonian lines were estimated in the ac counts at 10,000/. Could the Chairman furnish the meeting with he proportion of each ? The CHAIRMAN said the exact returns had not beet , received from the two ccmpanies, but the estimate was made out in this way-8,5001. for the Lancaster and Carlisle, and 1,500/. for the Caledonian. Mr. HEADLEY wished further to know why so large a snm 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. HEADLEY, 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 sae of it now. The state of Ire land, and the course Government had pursued to wards the company, inflicting , such severe hardship, 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 an excellent concern.—(Hear, hear.) The CHAIRMAN did not entertain any of the appre hensions expressed by the Hon. Gentleman, and thought that thejiies alluded to by him would, under proper ma• nagement, be placed in a much better position. Mr. ALSTON, who was very indistinctly beard, sug gested 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 stilt 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 redu c ti on o f 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 better by more than a month than its first portion. For instance, the second period showed 100.0001. more than the first. Haying made the arrangements they had fur the permanent way, they did not require so largo 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 aiscuunt 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.-501. 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. tMr. 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 beets found im practicable. He could mention an instance. They took from one train 1,5501. 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 fourid its way to the counters of railway companies—(Laughter) The PROPRIETOR resumed—Light gold must surely co m e to them two or three times over in the course of a year. The subject should, however, engage their a ttention. He would ask them whether they expected gentlemen to audit their accounts if they paid them such paltry sums as they did?—(Hear, bear.) He was quite sure that the proprietors ought to see that their auditors were properly paid. Tne report was then agreed to. The CHAIRMAN said, that according to the prOmrse he had made, he wished to refer to that part of the report which had reference to the promise given by the direc tors at a former meeting, that they would not pro ceed with new works without previously consult. ing the proprietors. They bad now to call atten tion t) the line authorised by Parliament to be made by this company from Birmingham to Lichfield, at an estimated cost of 200,0001. After full consideration of the matter, the dire ctors 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. lie 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. HEADLEY thought it;would be injustice to this company to make a line from Birmingham to Lichfield. —(Hear, hear.) He believed if the line was constructed it would not pay a halt' 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 Mt. 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 respect of any part for which the proprietors of shares are not entitled. Mr. HUTCHINSON, before the resolution was: put, called the attention of the meeting to the unjust mode in which railways were rated to the poor, ard 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 CRAIRJAN 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 hal had the subject more or less under their consideration; they had obtained several intervie ws w i t h her Majesty's Government and the Poor-law Board, and a Bill had been prepared, but it had resulted in nu thing beyond giving them some trifling powers of ap peal in certain cases. They had to encounter the most determined opposition of the landed gentry, and there fore he considered that certain good would resat', from the combined operation of all railwir, s for the purpose of obtaining some relief from the very unjust burdens which were now thrown tirpon them.—(Hear.) The resolution was then carried. A resolution was then passed, consolidating certain shares with the capital stock, and after a vote or thanks to the Chairman and the auditors, the meeting s eparated. BUCKINGHAMSHIRE RAIL WAY. (THIS DAY.) The half-yearly meeting of this company took place today, at tw o o ' c lock, at the Euston-squ a r e S tat i on; Sir Harry V erney i n th e chair. together with resolutions in av cor d ance there adTophteedf,ollowing report of the directors wrAs unanimously with " The directors, in meeting the proprietors on this oc casion, have to report that the works are proceeding in a Satisfactory manner on tho 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 heipe that tho railways will be ready for traffic by the spring of 1850. " The directors, impressed with the necessity of eco ❑omising the expenditure of capital, and desirous of ac celerating 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 or Oxford. "The directors have taken steps for closing and set tling all outstanding liabilitit s for those expensive and unfortunate contests which followed the introductio❑ of the broad gauge into the Buckinghamshire district. "By the company's special Act, auditors have to be appointed at each half•yenrfy meeting. Richard Carter, Es q , offers 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 !banks of the company to the Rev. W. R. Fremantle •or 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 RAIL W AY.—(TH I S DAY.) The ordinary halt-yearly meeting of the proprietors of this company was advertised to take place to-day at the Euston Hotel, Ruston-square; the chair to be taken at three o'clock. At four o'clock, there not being a sufficient number of shareholders present to commute i meeting, the meeting was adjourned. But'at the sug gestion of a proprietor, for the information of the ,hareholders present, the debtor and creditor account was read, which showed that the receipts were 27,8491., ,nd that, after all expenses had been paid, their was a balance in the hands of the company, including the .um of 17,0001, lent to the London and North-Western Company, of 26,9801. 12s. 6.1. Mr. JEFFREY deprecated the course that had been oursued by the diremurs and trusted that the London and North-Western Company would not allow the ;hareholders to be fleeced out of their money as they •iad been. It' the directors would allow him to call the next meeting, he would undertake that a meeting should oe made. The DEPUTY CHAIRMAN said that the directors were most anxious to have a meetirg, and it was not their :ault that one had not befn made. BANK OF ENtiLAND. (From this night's Gazette.) An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32, fer the Week ending on Saturday, the 11th day of August, 1849. ISSUE DEPARTMENT. Notes i55ued........ 27,4-8,875 Government debt • • 11,015,100 Other securities 2,984,900 Gold coin and bullion 13,37:,306 Silver bullion • • • • • • 276,569 :4 2 7 , 6 4 8 , 8 7 5 I £ 27,648,875 J. R. ELSEY, Deputy-Cashier. 1849. Dated the 16th day of August, BANKING D Proprietors 'capital.. 14,553,000 Rest • • .... .. 3,312,800 Public deposits (in cluding Exchequer, Commissioners of National Debt, Say ings -bank s, and Di vidend accounts) • • 4,712,703 Other deposits • ..... 9,953,425 Seven day and other bills ...... • 1,117,461 EPAB,TII.BN T. [ Government Henri- ties (including Dead Weight Annuity) .. 14,282,877 I Other securities .... 9,: , 51,310 Notes •.• . • •••• • .. 8,902,720 Gold and silver coin.. 911,982 :£33,6 18.839 I £33,648,889 J. R. ELSEY, Deputy-Cashier. 1849. Dated the 16th day of August, COURSE OF EXCHA Amster lam 12 2% Ditto, at sight • • .... 12 1 totterdam 12 2j Homburgh ......M.B. 13 12% idtona•• •....... •• •• •• --- Paris, 3 days'sight .... 25 4214 Ditto, 3 months .... 25 623, harseilles • . .......... 25 6r% . 25 62 1 , Frankfort on Maine.... 121% Patersburgh, Sll..lible .. 36% Vienna, effec. fig ...... 12 18 Trieste, ditto—. •..... 12 18 fladxid • ....... 50 darcelona •• •• •• •• •• •• Seville.. •• •••••• •• •• LNGE.-(THIS DAY.) Gibraltar— •• •• •• •• •• •• Leghorn ........ • • ...• 31 40 Genoa •• • ....... •• 26 65 Allan •............. ••• Venice........ • • • • .... Maples .............. 40% Palermo, 121 Messina 121% Lisbon.. • • .......... 53 % Oporto ••.. • • _• • ...• itio Janeiro iluenos Ayres .. ••.. • • New York, 21 days'slght Philadelphia .... • • .... PAWLS OF BULLION, FEZ GZ, Foreign Gold in bara X 3 17 9 l'ortngal Gold Coin •• 0 0 i Spanish Doubloons .. 0 0 0 New Dollars ...... 0 4 10 3llverin bars ...... • . 0 4 11 5. MARKET INTELLIGENCE. (From the London New PriceC;;enVii SUGAR.—To-day prices ruled firm for West India Sugar, and a good business was concluded, but chiefly by refiners. At auction 11 hitch 6 trcs Jamaica were sold, middling yellow at 38s 6d, low 375, and good brown at 36s per cwt. The quantity sold amounted to 420, making for the week 2,450 hhds, &c. In prices there is scarcely any variation as compared with those current on Friday last. REFINED.—To-dayformer rates were well supported for refined goods, and home trade d. alers were desirous to make purchases; indeed the supply of lumps from 49, to 50s per cwt is not sufficient tor their wants. The market for Bonded Crushed Sugar remains in a firm position. to Npludbulieerrstaules. a — m T o u h s t e d a f t to er n 6 0 20 n 65 t h b e a g ci s u , a and ntit y ne u a b r m l t ; he whole sold at full rates ; fioe yellow went at 39s 6d to 41s, middling and good 38s to 395, low 36s 6d to 37s 6d, fine brown 35s to 365, inferior 31s to 33s 6d per cwt. EAST INDIA.—This etterifoon Bengal Sugar met with little attention, and 1,500 bags at public sale sold at full rates; fine and good white Benares went at 40s 6d to 434 6d, middling 39s 6d to 40s. FOREIGN.—To-day there was not a more active de. mend for Foreign Sugar by private treaty for home use or exportation, still holders here firm, and for bonded parcels full rates were asked. At public sale 300 chests Bahia were offered, and sold at 17s 6d to 28s 6d for brown and middling yellow. Of Porto Rico 278 hhds 125 brh duty paid went at 38s to 39s for ordinary yellow, and at 40s to 42s per cwt for better sort. COFFEE.—This afternoon a fair demand existed for Plantation Ceylon Coffee. and full rates are paid. A public sale of 42 casks 370 bags went at from 47s 6d to 57s for fine fine ordinary and middling. The market for Native has a quiet aspect, but sellers will not accept less than 36s 6d per cwt. for good ordinary. COCOA.—A decrease is visible in the demand for West India this week, and prices have given way fully is per cwt; the market also continues to be well supplied with the lower sorts. At auction 424 bags of Trinidad were only in part disposed of at 38s to 40s for grey, and 40s to 45s for fair to good red; 100 pkgs of Grenada went at 36s 6d to 40s per cwt. Piices are not expected to rule much lower, although the stock is far greater than at this time in the former year. Foreign met with little attention, and is offered at 26s 6d to 28s 6d p er cwt; there is also no falling off in the stock, and lower rates are likely to exist. MOLASSES.—No further decline is visible in the value of West India, still the business concluded has been limited by private treaty at from 16s to 19e for low to tine. East India Treacle met with a slow sale at 15s to 16s per cwt. and a reduction is expected to take place ; there is a fair supply. For Honey better prices have been obtained. Congou operations have been upon a larger scale this week, and stiffer rates have been obtained for all sorts; a further advance is also likely to take place. Sales of common and good common have been made at Sid to. 9d, mixed blackish leaf 9id to 10id, blackish leaf lld to is Op, ditto strong is Id to Is 3id, fine and Pekoe flavor is 4d to Is lOd per lb. Green is held with firmness, at fully former terms, and the business concluded has been of a satisfactory nature. There are not ready sellers upo❑ the rates of this day week, for the lower sorts the de mand continues to be the most active. At public sale 21,300 pkgs have been offered this week, and 4,000 pkgs found buy ere. RICE.—To-day East India rice was held for full rates, but .here was less business concluded by private treaty. At auction 1,571 bags of Bengal only in part sold at 1 is for fine, and at lOs to 13s 6d per cwt for good white. SAGO is not mueh wanted, and the business concluded has been rather under former rates, still there is not a larger quantity on offer. At public sale 407 chests were sold at 19s 6d to 20t 6d for good and fine greyish pearl Sago Flour is in scanty supply, and prices rule firm at from 20s to 21s per cwt. SrlcEs.—Pim - ento continues to be wanted, and former rates are readily offered, but few parcels are to be obtained by private treaty, and there has been no public sale. The value is from 4d to 4id per lb. For Cassia Lignea the market is firm, and there are several purchasers at 94s to 100 s per cwt according to quality, but the supply is small of all sorts. The market remains firm for Cloves, and a fair business has been concluded; Bencoolen at is 4d to 2s, Amboyna is to is 2d, Buurbon and Zanzibar lid to Sid per lb. For Cinnamon the demand is better, and merchants display firmness ; for Ceylon of first quality they obtain 3s 9d to 4s 3d ; second ditto 28 8d to 4s, and third ditto Is to 2s 10d. Black Pepper realized full rates, and by private ireaty operations have been upon a more extended scale ; Malabar shot at 3id to 3id, heavy 3d to 31d, inferior 2id to 2id, Sumatra clean 2id to 20, and inferior lid to 2id. The value of white is from 4d to 9d, and there are not many buyers. Pod Pepper is further depressed in value, and at auction 184 bags went at 31s to 88s 6d per cwt for low and mid. In the market for Ginger there is less activity, but prices have varied little from this day week, altho ugh there is a more plentiful supply. Of African 240 bxs and 1,192 bags at auction were sold at 36s to 37s 6d for middling and good middling . 30 pack of shipping Bengal were taken in at 9 5s ; 22 b oxes Barbadoes at 36s for mid small, but 130 pkgs of Jamaica were all sold at 3/ 13s to 71 18s for ord to good. Nutmegs are still wanted. At auction 11 cases of Sin gapore went at from 2s 5d to 2s 8d for ord and mid, and at is 4d to 2s icr broken and small. The value of better kind is from 2s 10d to 38 10d per lb, and tha market has a firm aspect. Sales to a fair extent have been made by private treaty in Mace from 2s to 2s 9d, ant! three cases at action realized 2s 3d for mid quality. To•day at auction 130 pkgs of Jamaica Ginger went from 41 7s to 5/ 10s, and better sort 6/ to 81 5s per cwt, these are about former rates. ,SALTPETRE. —Holders have confidence, and less freely sup. Plied the market this week, whilst former advanced Pity, are well supported. still less demand has been experienced by private treaty, and at auction 1,790 bags of Calcutta were nearly all taken in at 27 6d to 28s per cwt fur mid strong grey 341 to lid per cent retraction. British refined 30a 6d to 31s i.er cwt with a firm market. Nitrate of Soda has been sold to a fair extent at lls to Ils 9d. "SPIRITS.—In Brandy operations have been again upon a large scale, end merchants display much firmness; . and deliveries have been extensive. Prices rule for Congou best brands of the iintage of 1848 at 3s 10d to 4s, 1847 ditto 4s 41 to 4s 6d, 1848 ditto 5s 6d to 53 Bd, 1845 ditto 5s 8d to 5s 10cl, interior marks 2s 4s to 3s 9d, end Bourdeaux at 2s to 25 2,1 per gallon. Geneva is held with firmness at is 9d to Is 10d for shipping sort, ai.d at 2s 3d to 3s 3d for fine fit for duty. British made Spirit is still quoted at 9s tild, and Gin at 8s to 8s 6d lor 17 to 22 per cent. under proof, and the market remains firm. To-day all sorts of Rum were dealt in with greater freedom, and at former rat• s several parcels were disposed of. The chief operations in Rum for the week are 200 puns Jamaica at 2s 7d to 2s 9,1 for middling quality 32 to 35 per cent. over proof, 260 pins East India at is 31c1 proof, and 100 puns Leeward Island at Is 41-d. TALLOW.—This afternoon at auction 217 pps 74 hhds 981 boxes South American Tallow were chiefly sold at 33s 6d to 38s 6d; 213 casks of Sydney 343 9,1 to 38i 6d; 80 casks P. Y. Candle taken in at 36s 6.1 for ord; 34 ditto Soap at 34s 6d per cwt. OILS.—To-day, at auction, 40 tuns of Seal and 20 tuns of Cocoa Nut were (And. The former in part sold at 301 103 to 311 for straw, at 261 to 271 lOs for other sorts; the latter taken in at 33s for Ce) lon. THE LONDON GAZETTE. (THIS EVENING.) FOREIGN-OFFICE, Au% 17. N OTIFICATION. It is hereby notified that Viscount Palmerston, her Majesty's Principal Secretary of State for Foreign Affairs, has received a dispatch from her Majesty's Mi nister at Copenhagen, enclosing an ()Metal notification from the Danish Minister of the Marine, of the cessation of the blockade of the Baltic ports, with the exception of those of the east coast of Holstein, and also of the cessation of the blockade of the Elbe and Weser, &c., on the 11th instant. The following is a copy of the notification:— " The Minister of the Navy declares that the blockade of the harbours of Pillau, Danzic, Cumin, :.. , wineinunde, Wtlgast, Grrefswaldo, Stralsund, and Rostock is raised. " On the 11th of August next the blockades will farther be raced of the rivers of Elbe, Weser, and Jande, the western coast of the duchy of Holstein, and all the harbours of the duchy of Sh swic. " the blockac e continues along the east coast of the Duchy of Holstein, with the harbours of Neustadt, Heiligenhafen with Febmer Sound, and the Bay of Kiel, with the entrance of the Canal. " The Ministry of the Navy, at Copenhagen, the sth o; August, 1849. (Signed) " ZAHRTMANN." AD - MiItALTY, AUG. 10. Corps of Royal Marines—First Lieutenant Edward Pellew Hammett Ussher to be Captain, vice Lee, placed on half-pay. ADMIRALTY, AUG. 11. Second-Lieutenaut. Osborne Frederick Charles Fraser to be First-Lieutenant, vice Ussher, promoted. ADMIRALIY, AUG. 14. James Conway Travers, Gentleman, to be Second- Lieutenant; Frederick Lewis David, Gentleman, to be Second-Lieutenant. BANKRUPTCY SUPERSEDED. George Squire, merchant, St. Neots, Huntingdonshire BANKRUPTS. Joseph Hodson, wooer, Whophide, Lincolnshire, to surrender August 31, at eleven, and Sept. 28, at half past eleven, at the Court of Bankruptcy. Cannan, offi. cial assignee, Birehtn-lane; Ashuret.and Son, Old Jewry, London. John Pavis, licensed victualler, Three Colt-street, Limehouse, Aug. 23, at halt-past eleven, and Sept. 28. at eleven, at the Court of Bankruptcy. Whitmore, official assignee, Basinghall-street; Symes and Co., Fenchurch strect. Richard Bradshaw Burton and George Bulpin, drapers, Dublin, Aug. 31, at halt-past one, and Oct. 4, at twelve, at the Court of Bankruptcy. Edwards, official assignee, Old Jewry ; Mardon a,.d Pritchard, Newgate-street. George Start, banker, Greenwich, Aug, 27 and Oct 4, at eleven, at the Court of Bankruptcy. Groom, offi cial assignee, At , church-lane, Lombard-street ; Liukla• ter, Charlotte-row, Mansion•house. John Bodily, farmer, Southam, Warwick, Sep'. 4,.and Oct. 6, at ten, at the Birmingham District Court. Valpy, official assignee, Birmingham; Holland, Westbromwich; Hodgson, Birmingh , itn. James Roberts, steel manufacturer, Smethvvick, fordshire, Sept. 4 and Oot. 6, at ten, at the Birmingham District Court. Whitmore, official assignee, Birming ham; Turleton, Birmingham. Benjamin Holmes, bout and shoemaker, Birmingham, Aug. 25, and Sept. 25, at twelve, at the Birmingham District Court. Whitmore, official assignee, Birming ham; Motternm, Knight, and Einncett, Birmingham. James Hollis, paper stainer, Cheltenham, Aug. 30 and Sept. 28, at twelve, at the Bristol District Court. Alfred Acraman, official assignee; Bromley and Aldgrige, Gray's Inn; C. J. Chesshy re, Cheltenham. Thomas Asworth, merchant, Liverpool, Aug. 28 and Sept. 21, at eleven, nt the Liverpool District Court. Bird, official assignee, Liverpool; Humphres and Co, Gray's Inn-square, London; Forsavv, Liverpool. jasper Fletcher, auctioner, Manchester, Aug. 29 and Sept. 26, at eleven, at the Manchester District Coui t. Hodson, efficial assignee, Manchester ; Lever, Frede rick's place, Old Jewry; Ackers, Manchester. . - John Turner, cotton-spinner, Oldham, Aug. 28, and qnd Sept. 26, at twelve, at the Alanchester District Court. Poworell, official assignee, Manchester ; Gregory, Faulkner, Gr, gory, and Skirrow, Bedford.. row, London ; Ashcroft, Oldham. John Herdley, tailor, Manchester, Aug. 29, at eleven, and Sept. 26, at twelve, at the Manchester District Court. tiobson, official assignee, Manchester; Bower, Token house-) ard ; Allen, Princess -street, Manchester. John Charles Ball, Leer-house keeper, Golden-cross, Kennington cross, Lamb, th, surrey, Aug. 24, at ball= past eleven, and Sept. 28, at twelve, at the Court of Bankruptcy. Cannan, official assignee, Birchin-lane, Cornhill ; Few and Co., nrietta-street, Covent-garden. PRICE OF SUGAR. The average price of Brown or Muscovado Sugar, com puted from the returns made in the week ending August 14, 1849, is 255.:10 , 4 d. per cwt. RAILWAY Si' Alit. MARKETS. BRISTOL, AUGUST 16. STOCK EXCHANGE.--The share market was depressed to. day, and little business doing. Great Wept, ru, Quarters, were done at 8% dis., and Wilts, Somerset, and Weymouth, 15 dis. LIVERPOOL, AUGUST 16. STOCK EXCHANGE.—The share market continues to improve, aud there is more business going forward. The saies are—Lancashire and Yorkshire, Prelerence, 12% —Lancaster aud Preston, Quarters, 13% —Leeds and Thirsk, Preference, Quarters, % tits. —Liverpool, Manchester, and Newcastle Junction, 2% dis.—Lundon and North- Western, 128% Ditto, New Quarters, 2% c. p. Ditto, Fifths, 965. ad. p. Midland, Halves, 14% dis.—South-Eastern and Dover (No. 4), 6'/—York, Newcastle, and Berwick (G. N. E. Purchase), 6 per cent. till 1850, 965. 3d. dis.— Newry and Enniskillen, 5% dis. MANCHESTER, AUGUST 16. STOCK EXCHANGE.—The transactions to-day were as follow : East Lancashire, Preference, 7%—Shrewsbury and Birmingham, Pre ference, 10 1 ,i c.—Manchester and Leeds, Fifths, dis.—Ditto, 321 Shares, 7 dis.—North Staffordshire, dis.—Edinburgh and Glas gow, 10%. _ _ _ BIRMINGHAM, AUGUST 16. STOCK EXCHANGE.— The transactions to-day were as follow: — London and North-Western, 129—Ditto, Flflll4, 4 p.— Shrewsbury and Birmingham (A), 6M dis.—Ditto, Preference, 2% p. YORK, AUGUST 15. STOCK EXCUANGE.—The transactions to-day have been as fol low: —Great Northern, York, Newcastle, and Berwick (G. N. E. Purchase), 331,—York and North Midland, Preference, 7%. ROYAL COLLEGE OF SURGEONS.—The following gentlemen, having undergone the necessary examination for the Felluwship of this institution, in pursuance of the charter granted to the College, were admitted Fellows at the meeting of the President, Vice-Presi- dents, and Council yesterday afternoon :—Messrs. Samuel Allen Biudley, Birmingham; Peter Lodwick Burchell, Kingsland-road, diploma dated July 5, 1839; Edward Details Hacon, Hackney, July 3, 1840; Edward Law Hussey, Oxford, February 7, 1845; Henry Thomas Leigh, Turnham-green, Middlesex, February 13, 1829; Thomas Littleton, Saltash, Cornwall, May 7, 1847; John Morgan, Albion-place, Hyde-park-square, April 30, 1841; Edward Palmer, Westminster; George Hill Smith, Stevenage, Hertfordshire, November 17, 1837; and Frederick Wildbore, Ealing, Middlesex, late house surgeon to the Westminster Hospital, April 7, 1843. The following gentlemen, having undergone the neces sary examinatians for the diploma, were admitted mem bers of the College at the meeting of the Court of Examiners on the 15th inst.:—Messrs. Cecil Crandell, Koyal Navy; Basil Eystun, Biriningham; Weaver Jones, Cleobury Mortimer, Salop; George Smith, Stroud, Gloucestershire; Thomas Collyns Blun chard, Southampton; Edward Batley Ray, Milton, near Sittingbourne; Thomas Peregrine James, Abergavenny, Monmouthshire; Thomas Wallscourt Blake Greaves, Tuam, Galway; James Breach, Bradfield, Berkshire; Henry Benjamin Lillie, Colchester; Richard Lee, Theme, Oxfordshire; and William Strong Browne, Camberwell. THE CONVICT ARCHIBALD BOLAM.—This noto rious convict has addressed the following letter to the Newcastle papers, relative to a statement which appears to have gone the round of the press, accusing him of be ingconvieted of another offence in New South Wales:— " S ir,—your sacred duty to me, my relations, and so ciety at large demands the insertion of the following observations in your newspaper. The diabolical para graph which appears in the Hull Advertiser of the 13th of October, 1848, purporting to be taken from the .Gates head Obse r ver, was no doubt fulminated with the view of doing serious harm. I declared at my trial most solemnly before God and my country that I was innocent of the death of Joseph Millie, and at this moment, far away from friends and foes,' I do declare that I am guiltless of the crime with which I was charged, and as I shall have to answer for it before God, the account which I gave at the trial, to the best of my recollection, was a true account of all that I knew relating to the death of Joseph Millie; and to the said paragraphical charge I also, with the most profound contempt, plead not guilty. I have never been out of New South Weles since my arrival in the year of our Lord 1840. Van Diemen's Land and Nortolk Island lie, the former about 700 miles to the south, and the la, ter 1,000 miles to the east of Botany Bay, consequently, I could not have been con victed at Hobart Town, which is th e capit a l o f V an Diemen's Land. But to place the matter beyond doubt, I enclose a certificate from the principal superintendent of the convicts of this colony, under whose observation I have been from the time I arrived until this hour.— ARCFID. BOLAM." TAKING THINGS COOLLY.—A paper " out west" makes the following announcement to its numerous subscribers :—" In order to enable us to get through with some job work on baud, there will be no paper issued from this °Mee next week." THE COUNTRY MARKETS. BIRMINGHAM, AUG. 16.—At Gloucester and Wor cester markets, on the 11th, the wheat trade ruled dull, at a reduction of 2s to 3s per quarter on English Wheat, and Is to 2s on foreign. Barley unaltered, with a fair retail :ale. Oats maintained their value. Beans rather lower. Peas less inquired for. During the present week the weather, with the exception of a few showers, has continued fine and favour a bl e f or th e h arvest; and the few sales reported in wheat are at a further decline of about is per quarter. There are only retail transactions in barley, beans, and oats; the value of each is nomi nally unaltered. Peas the turn cheaper. At this day's market wheat further gave way is per quarter, but , en had an improved sale. Barley held for former cur rency. Lower prices were not submitted to for oats. Beans quite ter dear. Peas neglected. BRISTOL, AuG. 16.—At this day's market we had* good supply of English wheat. The showery weather we have bad for the last few days has caused a little more demand, and previous prices are fully sustained. In foreign the sales have been extremely limited, a nd values are about the same. English new wheat fetched from 38a to 44, per imperial quarter; foreign wheat, 475 to 50s per 48e1b; ditto, red, fine qualities, 433 to 455; ditto, red, ordinary qualities, 38s to 41s; ditto, hard, 355 to 38s. For flour there has been only a retail sale, a nd at a decline of is per sack—English seconds, 301 to 323 per sack; American sweet, 23s to 25s per barrel. For grinding barley there is a very fair consumptive inquiry; English malting, 27s to 306 per imperial quarter; ditto, end foreign grinning, 20s to 25s per 4001 b. O a ts and beans are dull of sale; eats, Devon and . Welsh, les to 19s per imperial quarter; Irish white 20s to 21s per 3021 b; ditto, black, 17s 6d to 18s 6d per imperial qr; foreign, none; beans, English, 28s to 34s per imperisl quarter; foreign, 25s to 28s per 4801 b. The arrivals for the week ending August the 16th have been—wheat, 876 quarters; oats, 215 barrels; barley, 900 quarters and 121 barrels; beans, 310 quarters; flour, 1,100 sacks and 7,475 barrels. The averages for the week are—wheat, 40s sd; oats, 18s; bailey, 245. BOSTON, AUG. 15.—Wheat, red 43s to 465, white 503; oats 14s to 21s; beans 326 to 35s per qr. LONG SUTTON.— Return of sales for the week ending Aug. 11— Oats, 15 epee 121 7s 6d (average 16s 6d ) SLEAFORD, AUG. 13.—Wheat, white 47s to 495, red 44s to 465; oats 18e to 21s; beans 35s to 36s per qr. ALFORD.--Averages for the week ending Aug, 13- - Wheat 46s 10? f il per qr. OARHAM, AUG. 13.—Wheat 46s to 50s; barley 27s to 31_s•, oats 19s to 225 ; bean s , 30 3 to 37 s per qr. UPPINGHAM, AUG 15.—Wheat 47s to 525; barley 255 0' 30s; oats 17s to .245; beans 30s to 38s per qr. Butter I ld to Hid ptr lb; eggs 18s for Is. MELTON MOWBRA,Z, AUG. 14.—Wheat 4Ss to 515; barley 27s to 31s; oats 204 to 245; brans 348 to 38s per qr. Butter lld to 13d per lb; eggs 16s to 18s for is. GAINSBOROUGH, AUG H.—Wheat 47s to 50s-19 0 qrs, 471/ lOs (average 49s 7id.) NEWARK, AUG. 14.—Wheat, wbite 503 to 525, red 48s to 50s; barley, grinding 24s to 255; oats, old 2s 245, new 20s to 225; beans, old 33s to 35s per qr. ROTHERHAM, AUG. 13.—Beef, 53 6d to el ad per stone; mutton, 4iel to 5-id per lb. Cattle 236, sheer 2,600. GLASGOW, AUG. 15.—Since our last, we have ha d mach heavy rain, with a cool temperature. From th e northern, as well as from the western, parts of this king . dom we hear rather increasing complaints respecting the re-appearance of the p etato disease. The imports }rem abroad consisted of about 2,900 quarters of wheati 2,837 sacks and 994 barrels of flour, 1,786 quarters el oats, and 617 quarters of rye; coastwise from Ireland they were trifling. At Grangemouth about 1,485 quarters of wheat, 585 quarters of barley, 1,153 quarters of vats' 250 quarters of beans, and 550 quarters o f rye arr ived from the continent. There has been a limited business done during the week, at lowering rates, excepting bar ley and the best description of sack and barrel flour. which met a fair sale at last Wednesday's currency' This day's market was thinly att en d e d. Wh ea t a n d four sold to a moderate extent; the better qualities without change in value, whilst, to make progress with inferior parcels, an abatement of 6d per boll or barrel te" quired to be submitted to. Barley for malting put poses commanded the extreme rates of this day se'ennigh,ti Oats and oatmeal were dull, at a d e cline o f 6d per h)', or load respectively. Beans and p eas w i t h out ma t e rn° alteration. Indian corn advanced 6d to 9J per 2801 b. EDINBURGH, AUG. 15.—The quantity of wheat brough t forwent this day was 568 qr s , b e i ng 60 qrs more thin,' last week. Top price the same, and the average id de: —165 qrs unsold. Th e quan ti ty o f b ar l ey brought ibt ward was 317 qrs, bei ng 9 qrs l ess than last w eek' Price en the top Is 3d, and th e average 10d d own -12 1 qrs unsold. Of oats w e h a d 716 qrs b rought forward, ej 174 qrs less than last w ee k. T op pr i ce 4d , sliof the average stl down-84 qrs unsold. Th e qua ntttf. 0 beans was 41 qrs, or 32 qrs less th an l as t week. Fille on the top 6(1, and the average is 7d up-8 qrs unS o ' d. Top of wheat 83iib s 55 s Oa ... Barley ... 57 lbs 29s Od ••• Oats ••• 46i1bs 22s B d, Beans ... .67 lbs 351 6 d iy EDINBURGH CATTLE MARKET, AUG. 15.—The suPf o t of cattle this morning was 341, being 78 fewer that' f o r week. The weather still continuing unfavourablr sly slaughtering, sales in con se q uence were ex ceed 6 l 6 d dull. Top price of the best b ee f 7 5 6d ; current tone. to 7s; middling and inferior 5s t o 6 s per Dutc b d S i a mbs A great many unsold. The su pply o f s h eep an wetic • this morning was 4,198, b e in g 1,537 l ess t h an dile On account of the short supply sales were more re a Li f i e effected. Sh ee p ma i nta i ne d l ast wee k' s prices, " lambs wer e a s h a d e hi g h er . T op pr i ce of the best mutton ,- 5d per lb; current, 4d to 4id ; i n t er i or , 3 d . Lambs (OP 19, 6 - 1; current, 14s to 153; middling and interior, bs 1 0 lOs a head. DuNnea, A nc. 13.—Wheat, weighing 63i lbs, broug h t 445, and prices to 00s Od; barley, weighing 001b* brought 00s 01, and prices to 00s Od; oats, weig bil l 43iins, brougnt 21, 6:1, and prices to 20s Od; beans I l l s pease, weighing 64. 1 i11iF, brought 33s Od, and prices '" 32s od. • DUNDEE, AUG. Io.—Wheat, 46s od to 49 s Od;forelg a ditto, 47s 0,1 to 5Gs Od; barley, 22, Od to 23s Od; IBs 6d to 19s Od ; pease, and beans, 23s Od to 25s od. CoaK, AUG. 15.—Flour—Firsts 14s Od to 14s 6d; ex tra 15 9 6 ; seconds, 13s 6d to Oos Od; households lO s t o 12 s • thi r ds, 7sto per cwt. Oatmeal 12, 6d to OUs• ' Indian meal (is 6d to 6s 9d; wh et meal, lOs Od tolls p er cw t. Indian corn 6/es Od to 61 bs Od ton. Bran 3110 s Od to 4/ per ton. HaY—Farmerslss to 265; si e _ f le le 22s ; dealers :30 8 to 44 s 6d ; average 00s per ton. St/ aw--Farwoej. 17s Od to 19s Oil ; average 00 s ; d ea l ers 40 s Od to 008; L i ; average k 66 Od per ton. Bread—Wheaten loaf 6d to/ v A g t o household loaf bd to bid per 4 1b . Fresh butter , 8d per lb. Eggs-4s ed to 4s 2d per hundred. C alf Newport 14s; Lydney 165 ; Landore 14s ; Best . I .`",t. Culm 13s per ton. Tallow 405 Od to 00s per ti e s t Whisky, 25 o. p., 6s Od p er i mper i al gallon. tA'eto —Beef 4d to 7d; mutton 5d t o 64d ; veal b,,*" n or 7d; pork 4d to bid; bacon 7d t o 8d; sausages u t : i- n o• lb. Hops 61 lOs per cwt. Bangor slates 312 s 6d to N s s r e b ton. Bark—Barbary 81 to 8/ Hi s ; V a l on i a 141 to 01; Fr e t., 7/10s; English 01 per ton. Fleece Wool lOs to 125 per St°:,i Hemp 341 to 35/ per tor. Fish— Scotch herrings 17s to 18s; ditto 26s to 28s per barrel ; Newfoundland 10/ lOs to 1 21 ,r, t ton. Timber—Memel, 851 per ton ; de a ls, fi rs t quality, ',1" ; second quality, 16s per 100. Hides—Market lOs to Pi t , salted 12s to 185 per cwt ; calf skins lid to lid per Potatoes, white 7d to 10d; Minions ood to God; Gusov e i, Peruvian, 111 lOs; Ichaboe 91 per ton; Tar—Arcbseg 19s per barrel. PHENOMENON IN Itoss-sliaßE.—A curious phenotn r i non occurred at the farm of Balvulli c h, on the esta te °, Ord, occupied by Mr. Moffat, on th e even i ng of Mondtiol last. Immediately after on e o f t h e loudest peals„,-(1 thunder ever heard ther e , a l arge and irregularly sbsY2l... mass of ice, reckoned to be nearly 20 feet in circutow in (nee, and of a prop ort i onate thickness, fell near the. 6ll ;; house. It had a b eaut if u l crystalline appearance, beic, nearly transparent, if we except a small portion at P a which consisted of hailstones of uncommon size, ° le o together. It was principally composed of small sclua r io —diamond shaped—of from one to three inches in s a e all firmly congealed together. The weight of this isr.7 o piece of ice could not be ascertained; but it is o .Wes fortunate circumstance that it did not fall on Mr. Del ° " h 4 ,,fe house, or it would have crushed it, and undoubtedly " n - c s caused the death of some of the inmates. No appea rti ",he whatever of either hail or snow was discernible in ' surrounding district.—Ross -shire Advertiser. There is something in the last hour of the day,i f n have been itself a happy one, which seems to coup e ,7; trate all the pleasant things of the past. I t i s like a P'l,o evening sky, calm and sweet, and full of rays, that all the rosier, because they are the last.—Eliza Cow l Journal. rum Th f e or G th ov e e n r a n y m y e w nt as c a o g n a t i r n ac i t ak f e o n r y l e o . o te ,O rd o a o y fy al m lon es s ir ° o l Lemon, Hart, and Son, of 59, Fenchurch-street. MARRIED. Lellt e ; On th 11th inst., at the registrar's office, Portsea nant Frederick Llewellyn Alexander, R o y a l Marine ' Art i to Emma Lock. On the Lith inst., at Gosport, Mr. T. E. Sprott, borne-street, Haymarket, to Sarah Ann, only daugu`" John Balls, Esq., of Gosport, Hants. 0! On the I.4th inst., at St. George-the-Martyr. Queen - ei s rj William Joseph Booth, Esq., of Red Lion-square, to Ann Susannah, daughter of the late Richard R o sser, B s g h irlei On the 14th inst., at the parish church, Halifax, tfi ° Harold Macaulay, n of Rastrick, Esq., to Ann, widow ° late Captain Atherton, of Woodhouse. ff d v $P. On the 14th in s t., at the Cath e d ra l, M anc h e ster, , - 0 011 - Bury, Esq., of the Middle Temple, barrister-at-law, W beth, 3 , oungest daughter of Alexander Henry, Esq of Woodland , near Manchester. DIED Of • f 4 ' On the 11th ult ., at Madeira, Henry Riming t - Newstead-hall, Yorkshire. .101° On the 29th ult., at Gower-street, Euston-square , ul ••..cor Gunning Plunkett, Esq., of Clooneagb, county of Rosc o O '- Ireland. n the 12th inst., Jane, widow of the late Richard st" - Esq., of Shoreditch. rss ll ' On the 13th inst., at 51, Cadogan-place, George Tatte or , Esq., youngest son of Richard Tattersall, Esq., of Gro s " place. 4, t itbf O On the 14th inst., at Blandford, Dorset, Septinius ~— Esq. A bier' On the 15th inst., at her residence, Albion - plac e, iats road, Holloway, Mrs. Catherine Spencer, relict o f the Mr. Richard Spencer, aged 64. of L o ndon: Printed and Published by MURDO YOUN (1 ' 11g No. 112, Strand, Printer, at The Sun Office, Na 0 1 Strand, in the Precinct of the Snvoy, in the QOU Atiddleas, Friday, Anuot 17,1840• BIRTHS. On the 6th inst., a t Minst e ed Lodge, New Forest, Hai it* the wife of William R. Preston, Esq., of a daughter. ,00 tin the 10th inst., at Crawley, bussex, the wife of Rev. hales Fowler, of a so. 12 On Che r 12th inst., at Chichester, the wife of H. -I 11 Gruggen, M.D i . of a daughter. tbe On the 13th nst., at West Hill Villa, Wandsworth ,- wife of Mr. James Allan, of s daughter. ~„..gistti On the 13th inst., at Everingham-park, th e !ady of Ivi Constable Maxwell, Esq , of a son. Of On the 13th inst., at Kirkdale, near Liverpool, the wi fe Mr. John H. Austin, of a daughter. r_i ofe l On the 14th inst., in Nottingham-place, the wife of tA e Hill, Esq., of a daughter. _..../.