The Sun. — London, England, 1850-02-05 00:00:00

* trb 72tition SUN OFFICE, Seven o'CTock. :;ALEDONIAN RAILWAY. (THIS DAY.) xtraordinary general meeting of the shareholders of the Caledonian Railway Comraly was held at the Freemasons' Tavern, Great Queen-street, this morring, fir the following purposes:—'lb receive the report of the committee of investigation, to take into cons id erat i on th e rec ommendations contained therein, and to come to such resolutions thereon as may b e th oug h t fi t; t o co nsider and decide as to a prop osa l f ir entering, inte a contract with Thomas Brassey, Esq., of London, fir working the whole traffic of the Caledonian Railway and its branches ; and, if the same shall be approved of, to decide as to the terms and conditions of the contract, and as to the securities to be given and taken for the due performance thereof . ; as also for authorising a sale to the contractor, on terms to be submitted to the meeting, of the whole, or part of, the working plant or rolling stock of engines, carriages, waggons, &c., with their appurtenances, belonging to the company; and to au thorise all necessary deeds and contracts to be entered into fir carrying into effect the resolutions of the meet ing; and to approve or disaprove, in whole or in part, of the drafts of such deeds or documents as shall be laid be fore the meeting; to consider the following Bills, affecting the company, which have been introduced into Parliament, and to give such .instructions in reference thereto as may , be thought expedient: (1.) A Bill introduced by the Lon don Central Committee, intituled, "A Bill to repeal, alter, and amend certain Provisions of the Caledonian Railway (Wishaw and Coltness Railway purchase) Act, 1849." (2.) A Bill introduced by th... London Cent' al Committee, entituled, " A Bill to repeal, alter, and amend certain Provisions of the Caledonian Railway (Glasgow, Barrhead, and Neilston Direct Railway Lease) Act, 1849." (3.) A Bill introduced by the Wishaw and Coltnese Railway Company, intituled, " A (proposed) Bill for amending the Acts relating to the Wishaw and Coltness Railway." (4.) A Bill introduced by the Edinburgh and Glasgow Railway Company, intituled, " A (proposed) Bill to amalgamate the Cale donian and Edinburgh and Glasgow Railway Compa nies." (5.) A Bill introduced by the Scottish Central Railway Company, intituled, " A Bill to enab'e the Scot tish Central Railway Company to Lease their undertak ing, to the Caledonian, Lancaster and Carlisle, and Lon don and North-Western Railway Companies." (6.) A Bill introduced by the Dundee, and Perth. and Aberdeen Railway Junction Railway Company, intituled, " A Bill to effectuate the Lease and Transfer of the Dundee, and Perth, and Aberdeen Railway Junction, the Dundee and Arbroath, and Dundee and Newtyle Railways, to the Caledonian Railway Company :" to authorise the raising of the sum of 66,6001., under the powers conferred by the Caledonian Railway (Edinburgh Station and Branches) Act, 1847. To consider and decide as to the appointment of a committee of shareholders, to co-iperate and advise with the di rectors, during this session of Parliament:—(l.) In relation to the Parliamentary business which may arise in carrying out or opposing all, or any part of the above Bills, and such other Parliamentary business as may arise during the ensuing session of Parliament. (2.) For the purpose of negotiating a reduction of the Guaranteed Dividends. (3.) For the purpose of nego tiating with the Directors of the Edinburgh and Glas gqw Railway Company as to the amalgamation of the two companies; and (4.) with regard to any extraordinary business which may occar, in relation to the affairs of the company; and to provide for the expenses of such committee. The following address by the directors was circulated in the room:— " Although the report of the committee of investiga tion has been now several weeks tefore the shareholders, the directors have refrained from offering any remarks upon it, not because they were prepared to admit the justice of the strictures which it contained as to the past management, but because they heartily acquiesced in the sentiments expressed by the committee, that it is essential to the prosperity of the company that an end should be put to the dissensions which have so long and so unfortunately prevailed, and that an endeavour should be made to secure entire harmony between the share holders and the executive of the company. "In the same spirit the directors propose, in their present address, to limit their observations to the matters requiring to be decided at the general meeting of the company, according to the terms of the prefixed notice. They deprecate the revival of discussions which would only tend to prolong the dissensions which have of late unhappily prevailed among the proprietors, even though persuaded, as they are, that their past actings have been visited with unmerited censure. In so far as relates to their bona fides in effecting the share purchases, the committee have reported that they are of opinion that the directors entered into them bona fide for the purpose of serving the interests of the Caledonian Railway Com pany, not for their own personal advantage, and that they have derived no benefit whatever from those transactions.' " The points embraced in the notice will be advet tod to in their order. "I. As regards the reception and consideration of the report, and the suggestions made by the Committee of Investigation, the directers have had several conferences with a deputation from the committee of London share holders (of which the Honourable Captain Plunkett, R.N., is the chairman), and finding it to be the wish of a large body of their constituents that the shareholders should have it in their power to effect an immediate change of management, they have agreed at once to place tiseir seats at the disposal cf the shareholders, instead of retiring tinder the authority of an Act of Parliament, as proposed in the report of the Committee of Investigation, which probably could not be obtained for a year at soonest. With the view of car rying this arrangement into effect, the following reso lutions have been adjusted, and both parties have agreed to recommend them for adoption by the share holders at ensuing meeting : " RESOLUTIONS TO BE PROPcSED TINDER THE FIRST HEAD OF THE NOTICE. " 1. That the Report of the Committee of Investi gation, which has been circulated among the share holders, and is now laid before the meeting, be received. " 2. That the company shall not make any demand against the present or former directors in respect of the sum of 288,1751. 14s. 3d (or of any interest thereon), expended in the purchase L f shares in the following railway companies, and payment of calls thereon, viz : Glasgow. Barrhead, and Neilston Direct £49,020 9 2 Scottish Midland Junction ... ... 195,656 15 10 Wilsontown, Morningside, and Col tness 3,189 611 Scottish Central ... 35,198 12 4 Dundee and Arbroath ... ... 5,110 10 0 £288,175 14 3 " And the shares eff these companies so purchased shall be held in trust for the Caledonian Railway Com pany till an Act of Parliament authorising the company to hold them be obtained, or till the same be otherwise disposed of. " 3. That in like manner the company shall not make any demand against the present or former directors in respect of the snm of 136,9011. 4s. Id., expended in the purchase of shares in the following railway compa nies, and payment of calls and interest thereon:— Glasgow, Kilmarnock, and Ardrossan £62,516 19 8 Caledonian and Dumbarton ... ... 18,421 9 6 Dundee and Perth and Dundee and Arbroath ... 38,000 0 0 Interest thereon ... £118,938 9 2 ... 17,962 14 11 " £136 But the company m a y di sc l a i m all concern what ever with those shares, or any property therein. " 4. That an Act of Parliament be applied for by the company in the session of 1851, or sooner if possible, for the purpose of obtaining such legislative sanction as may be necessary to the due carrying out of the fore going resolutions, and, if the said application shall be unsuccessful from any cause whatever, the same shall be renewed during the next ensuing session of Parliament; and, until such Act be obtained, the company shall de ffnd the present and former directors against any actions brought, or to be brought, against them in respect of the above shares adopted by the company, or money ex• pended on account of the shares specified in the above resolutions. 5. That the number of directors be now reduced to nine, and that the directors be now requested to ap point the following gentlemen as their successors in office. " N.B.—To be filled up with the names to be sug gested by the shareholders at the general meeting.' " The directors have not yet received from the com mittee a list of the names of the gentlemen to be pro posed as their successors in office. They, however, pre same that such a list will be circulated by the com mittee among the shareholders before the sth instant, in order to enable them to form an opinion as to the eligibility of the parties proposed for the office. " 11. The second head of the notice -relates to a pro posal for entering into arrangements with Mr. Brassey for working the line under a contract, and for an ad vance by him to the company of 250,0001. upon a sale to him of the working plant. Drafts of the proposed working contract, and deed of sale of the plant, and a deed of trust relating to a deposit of 20,0004 required by the contractor, as a security for the punctual payment of the expense of working the line, will be laid before Vas meeting. The terms on which it is proposed that Mr. Brassey shall work the line are contained is the following extract from the draft of the contract:— to " be The prices for th e fi rst 23,000 m i les run per wee k , • paid by the company to the contractor for pas. seng , ,,r trains, shall be as follows : — That is to say, Ist, for each locomotive engine drawing eleven, or any less nnnaber of passenger carriage s dmand waggons' , trucks, or other vehicl es , ls. 2id. pere, an for each locomo tive engine dr aw i ng goods or cattle l3 waggons, trucks, or other vehicles di a loaded u p to tons, lv. 21d. per mile. But it is provieed, thadtesforthecach a e n s d ha e l v l e t ry c mile run after th e l et 23,000 miles, reduced from Is. 2.1 d. per mit e as above, to pri l c s per mile. 2d,. The charges for th e usa of each carriage, bei ng first-class carriage, shall be a t th e rate of one halfpenny for each mile run ; and the charges for the use of each carriage, being a second or third-class carriage, in clurikg therein vans, trucks, and horse-boxes of all kiy.ids, shall be at the rate of three-eighth parts of a PArtiny fir each mile run ; and the charge fir the use o f each waggon, of all kinds and descriptions, shall be at the rate of one farthing for each mile run. ad, If in any of the above rates there shall be a fraction a a 49:1,,rt,5r of a mile run, such fraction shall be deemed a quitter of a mile, and paid fur accordingly. 4th, In re ' !Peet 'et special trains, the prices shall be double the I°e gc l iag Pr*es respectively, with a right to the com pany taload back ; and a sum of 10s. per hour, or 51. for an te , tire day, and Ws. per hour fora portion of a day shal THE SUN, LONDON, he paid, in respect of every special engine and train ordered, whether used or not, until such order is counter manded. sth, The company shall, duly and punctually, at each week's end, pay the contractor the prices afore said, it being hereby admitted and agreed, that, in this respect, time is of the essence of this contract.' " If the arrangement with Mr. Brassey should be sanctioned by the shareholders, the present board would not be the parties to carry it out; but they do not cor sider this relieves them from the duty of stating em phatically the opinion which they entertain, not only as to the expediency, but as :to the absolute necessity of entering into the contract. " As a difference of opinion existed between the Lon don deputation and the board on this subject, it was ar ranged that it should remain an open question for the consideration of the shareholders, both parties being en titled to advocate such course as they might think most advantageous fnr the interests of the company. " The floating debt of the company, as stated in the committee's report, amounts to 670,7441., of which about two-thirds is secured or already provided for. The sum, therefore, to be received from Mr. Brassey, together with that proposed to be raised at the ensuing meeting under the unexhausted borrowing powers, is fully suffi cient to cover the unsecured portion of the floating debt " The directors are of opinion that by such an arrange ment alone can the floating liabilities of the company be at present provided for, and taking into account that Mr. Brassey could not be expected to take less than 5 per cent. on the advance which he is to make in pur chasing plant (which is equivalent to 2id. per mile on the stipulated mileage), the directors are advised that the terms are as moderate as any contract of the sort which has as yet been entered into. " The directors are quite aware that contracts of this description are al yet but experiments, their value as practical retrenchments not having been properly tested by experience, unless, perhaps, in the case of the Lan caster and Carlisle Railway, which has been success fully worked since its commencement under a similar contract. " The arrangement will enable the new board to dis pense with the large establishment which is at present necessary for the repair of the plant, and the working expenses will be capable of nearly exact ascertainment, instead of being undefined and variable. "The proposed arrangement, if carried out, will afford to the debenture holders complete security for the due and continuous working of the line, and so enhance the value of their preferable security over the revenue. " In this point of view, the arrangement will be equally advantageous to the shareholders of the Garnkirk, Wishaw, and Clydesdale Junction Lines, and to the holders of the 10L preference shares. " But the leading advantage which it holds out is, that it will at once re-establish the credit of the company, and effect a g reat and immediate saving of interest, by I putting an end to the cost of discounting and renewing lAls. The sum proposed to be borrowed is sufficient to cover the unsecured floating debt of the company, and to enable those in the managemement of the line to pay off the whole of this class of detts, so far as they are not already provided for, or otherwise secured. " The directors have taken the advice of eminent counsel as to the legality of the transaction, and they are assured that no difficulty exists in this respect. They have also provided for the contingency of the com pany becoming desirous of putting an end to the con tract, either in consequence of its turning out too ex pensive, or by their being enabled t) raise money at a lower rate of interest. It has accordingly been provided, that although the contract is to endure for seven years, the company shall have the option of terminating it at the end of a year by paying 10,0001. to Mr. Brassey; or, at the end of each succeeding year, by paying a proportional part of this sum. Due care has also been taken to secure to the company, at the same price, on the expiration of the contract, either at the end of the seven years or at any intermediate period, dtlivery of equally valuable and efficient plant. " The revenue of the line, if not in a perfectly satisfac tory state, is at all events in course of very rapid in crease, the receipts of the past half-year having consi derably exceaded the estimate given by the directors, in the report offered to the half-yearly meeting in Sep tember. The works are all but completed— the line itself in a most efficient st ite—so that, by providing in the manner now proposed for payment of the unsecured floating debt, the affairs of the company may be carried on without embarrassment. " Under these circumstance;, and with proper restric tions and conditions guarding the interests of the com pany, th© directors, had they remained in the executive, would have had no hesitation in recommending the shareholders to adopt the arrangement; and they feel so strongly on the subject, that they consider it to be their duty to express this as their parting advice to the share holders, although it would have been much more agree able to them to have left the whole question in the hands of their successors. "Unless this transaction shall be gone into, it appears to the directors that the credit of the company will be utterly paralysed. A scheme which has been suggested, of allowing the floating debts to stand over unprovided for, to be paid out of revenue during the next two or three years, after satisfying working expenses, deben ture interest, and guaranteed rents, is totally im practicable, and could not be acceded to by the creditors of the company, even if they were willing to do so. Most of these floating debts are fur furnish ings to the company, under the heads of plant, stores, rails, chairs, coke, &c., and most of the creditors hold short-dated bill?, generally of small amount, which have been discounted at Banks, and so are not under the control of the parties from whom the goods were pur chased. These parties would, therefore, have no alter native but to sue the company, and enforce payment by following out the usual measures of recovery. The company, therefore, would st once become involved in a multiplicity of harassing and expensive legal proceed ings, if any other course is followed than an immediate provision hr this floating debt. "111. With regard to the Bills specified in article 3d of the notice, it was agreed between the London Com mittee _and the directors, that the former should be at liberty to follow such course as they pleased, the direc tors being desirous that the meeting should deal with each Billl as may be thought proper. It is probable that the; Committee will in their address inform the shareholders (~f the course they intend to pursue and recommend for their adoption in relation to each Bill. " IV. The next matter to be submitted to the meeting is the following resolution applicable to the fourth head of the notice, viz. " ' That the directors be authorised to raise, on de- bentures or mortgages, the sum of 66,0001., under the powers conferred by the Caledonian Railway (Edinburgh Station and Branches) Act, 1847.' " These are required to cover a part of the floating debt, which will thus be to that extent provided for. " V. The directors do not know whether the proposal by th• London committee of moving for the appointment of a committee of consultation, has been abandoned or not." Mr. J. J. H. JOHNSTONE, M.P., Chairman of the Board of Directors, occupied the chair, but the Hon. Gentleman did not enter the meeting till long after the hour fur which it had been convened. The delay, how ever, was explained by Mr. Hodgson Hinde, who in formed the proprietors that their chairman was holding a conference with Captain Plunkett, the chairman of the London Central Committee of Shareholders, on a matter of considerable importance to the company. The CHAIRMAN, shortly after this announcement, took the chair, and called upon the secretary to read the ad vertisement summoning the meeting, which having been done, The CHAIRMAN proceeded to address the proprietors, commencing with an explanation of the circumstances which had led the directors to tender their resignation. After the report of the committee of shareholders, the directors put themselves at once in communication with the London central committee, and accordingly one of their body was appointed to wait upon them and solicit their attendance in Edinburgh with the view of negotiating a settlement of the differences which had arisen between the directors and the shareholders. In reply to this in . timation, Captain Plunkett and some of his friends re paired to Edinburgh, but in the first instance thLt gentleman proposed that a certain number of Scotch directors should rt tire to make way for parties who should more directly represent the interest of the London shareholders ; but as the proposal was hampered with the condition that the new directors should have the entire management and con troul of the line, the directors thought it more dignified, as far as they were concerned themselves, and more just to those proprietors who still reposed confidence in them, that they should resign rather than accept the proposal.—(Hear, hear.) Now, with regard to the guarantees and other transactions which the directors had entered into, and which had recently given rise to so much discontent, it should be remembered that they were entered into in a bona fide manner at a time wbea Parliament was almost as mad upon railway matters as the public, and seeing that it was utterly impossible that the money which bad been expended could ever be recovered in the mode that had teen suggested, it was much better that the company should act an honourable part and endeavour to get out of their difficulties in another way. He admitted that the directors bad taken money out of capital to apply to the purposes of revenue, but had they remained in power it was their intention to have restored the money which had been abstracted from capital by the sale of property which at the eoar t r i t , m thh e eaa c t r o t. ) u h l e d yTh n ha o ed t s aeer been h i c s oa p i e e os e d r sd together,wo e f u w l d i t hp amongstera c d e v i a v n e t a b y g e theother rep things, to consider a contract which had been proposed to Mr. Brassey ; and he had to inform them that it was not intended to submit that question to this meeting. It had been proposed to sell the whole of their rolling stock to Mr. Brassey, and to hand the line over to that gentleman t o b e worke by him under a contract. Mr. Brassey, however, de clined to go on with the negotiation, and it the ground.—(Hear, h ear.) upon the meeting the neces sityHo must, h ari therefore, nowsimpflayll to t o urge of discussing the questions raised by the report in a calm and dispassionate manner, and with the expression of that hope he would conclude by moving the first reso lution detailed in the report. Mr. CRAIN, the chairman of the Committee cf Investigation, entered it. to a do fence of the repo' t made by that committee, and in sisted that its moderation had been admitted and admired by all parties. They had suggested a compromise of the matters in dispute between the share holders and the directors, and with what justice they had made that suggestion was for the shareholders to determine.—(Hear, hear.) With regard to the Barr io ad and Neilston Bill, the directors had acted with so much want of judgment in the matter, in with drawing the measure, and then reviving it with out the sanction of the proprietors, that they could not pr.ss it over without censure, and if any further explanations were required on the shareholders' report, he was quite ready to give it.—(Hear, hear.) Alr. HALL, a large proprietor in the Clydesdale June tion Line, protes t 3cl against the legaiity of the meeting, on behalf of his own body, and delivered in a formal protest. Captain PLIINSETT had investigated the whole of the affairs of this concern, and he was sorry to find that after payment of the guarantees and preference shares, no thing would be left for tt, e shareholders of the Caledo• nian Railway. Nay, he would go further, and say that there was little prospect of their being able to pay on the preference shares. He there'bre denounced the combi nation which had been got up by the guaranteed shareholders as en unprincipled act, and told the meeting that if they allowed the list of directors which the guaranteed lines hal got up to be adopted, all that he could say was, that they would be flirty bought and sold.—(Elear, hear.) He did mean to say that the guaranteed lines ought not to be represented at the board; but let every man who was placed in the direction be called upon to p'edge himself to an equit able adjustment cf their affairs. (Hear, hear.) The direction must be so constructel that it would act with strict impartiality, and insist upon the meetings being held in London, where an intelligent public would take care that past faults should not be repeated (Hear, hear.) The address of the Chairman amounted te this, that the directors had done nothing wrong, but with what consistency could the chairman say that, when the company had not only as empty treasury, but a Heating debt, amount ing to 853,0001., and a redemption debt ef 675,000/., claimed by the Clydesdale Junction Company. No less than six millions had been expended by the company, and yet literally they bad no line, and all therefore he could say in reply to the plausible speech of the chair man was simply this, that had the directors managed their private affairs as they had conducted the affairs of this company he very much doubted whether they would ever have got their certificates had they come before the bankruptcy Court.—(Hear.) Had they ma naged the affairs of an individual in the extravagant manner that they had managed the affairs of this com pany, the Court of Chancery would have compelled them to refund the money they had expended.—(Hear, hear.) Hundreds of families had been ruined by the conduot of the directors, and now they came forward with this information. "We have," say they, "spent all your money; we have pledged your plant— in fact, everything but your rolling stock, and that wo recommend you to put up the spout at once."—(Hear and laughter.) Whatever, therefore, happened under a new board, it could be charged against them that they had ruined the company, and, again warning the pro prietors that it was very wrong to look for , ward to any increase of traffic, he had only to assure them that the salvation of the Caledonian Bail way depended upon a new and equitable arrangement being made with the guaranteed companies. —(Cheers.) He still hoped it would be possible to form a board that would unite the suffrages of all the Caledonian proprie tors, and conciliate the support of the guaranteed corn penies.—(Hear, heir.) With regard to the compromise which had been come to with the directors, the agreement confirming it would be read, and he hoped the meeting would agree to it.—(Hear, hear.) There was one circumstance that came under his notice while he was in Edinburgh which he could not avoid mention ing. A party had a claim upon the company for 1,7001. ground rent, but he could get no answer to his appli cations on the subject from the directors, and ultimately he took law proceedings, and seized some of their engines under execution. N0w,... a beard who managed matters in that way were not fit to govern, and the sooner, therefore, the compromise was retified and a change made in he management the better.—(Cheers.) The agreement %as then read. It was simply an echo cf the address. Mr. RUSSELL took some exception to the fourth reso lution mentioned in the report. Alderman THOMPSON, M.P., said he was quite re wly to surrender his seat in the board cf direction, but he implored the meeting to consider well and calmly the position they were now in, and the steps they in tended to take to improve it, whatever might have been the mismanagement of the direction, it had come out of the inquiry which had recently been instituted into their conduct, and they had come out of it without moral taint. What was their position? They had a share capital of two millions reduced to 400,0001., and engagements amounting to four millions reduced in the same ratio Now, unless the obligations of the company coming due were met, there was no help for i►, but the line would have to be ma naged by the Court of Chancery.—(A Voice—" And better t.m.") He would suggest, therefire, that they should let by-gones be by -bones—(o6)—and that this meeting should appoint a committee in whom they had confidence, to select the names of gentlemen who should hereafter be elected as the new board cf directors. A PROPRIETOR asked why the directors did not ac cept such a proposal as that, when it was made to them by the committee of investigation? Mr. Alderman THOMPSON was not aware that such a proposal had ever been made. The CHAIRMAN would put the difficulty raised at rest, by stating that the directors were not anxious, and, indeed, could not accept a seat at the new board. A SHAREHOLDER wished to know how many board meetings Alderman Thompson had attended. Alderman THOMPSON had no hesitation in stating that he had attended none; nor was he expected to do so when he was elected. Tho SHAREHOLDER said he had purchased his shares because he had faith in the character and honour of the Alderman, but now it seemed the Alderman was no dit actor at all. Mr. Alderman Thom Pew.; said he had been in vited to join the new direction, but he should only do so upon the understanding that he was to take no active part in the management. A SHAREHOLDER—Then you are of no use. • -- Alderman THOMPSON did not want to be on the direc tion, and if the shareholders wanted him ti ey must agree to his terms.—(Cheers.) Mr. DEARDEN complained that the investigation com mittee bad not done its duty. They were appointed to take evidence as to the state of the company's affairs. and to report the same to the shareholders. Now the report contained not one tittle of evidence ; and he should therefore be glad to know from Mr. Crain if they had searched the share registers of the lines in which this company had purchased shares, to ascertain if any of the directors were interested in the lines? Mr. Caen; replied in the negative; but the com mittee ascertained that the shares were bought openly and fairly in the market. Mr. DEARDEN spoke feelingly upon the subject, be cause he was trustee for 5,000/., which he bad advised to be invested in this concern, on the strength of the respectable names on the direction, and the under standing that this line was to form part of the London and North-Western Railway. How greatly he had been deceived, since the holders et' the old bOl. shares had been victimised from beginning to end, and the directors had illegally managed the con cern from the commencement.—(Hear, hoar.) He was not quite certain that the friends and relatives of the directors had not shares and interests in the very lines which they had guaranteed, honourable though the board might be. He knew that one of the directors had saved between 3,0001. and 4,0001. by allowing his shares to be forfeited, and fur aught he knew that gentleman was still at the board. Mr. H. EINDE said, the directors had ascertained that the gentleman in question, Mr. Dickenson, could not have paid up. . _ Mr: DEAR DEN—Who is Mr. James Hope? Mr. H. HINDE—He is one cf the firm of the solicitors to tho company. Mr. DEinpix said that gentleman had been let off 3,4881. by the directors forfeiting soae of his shares. The half-yearly accounts had bee❑ falsified, while the guarantees had been given upon grossly exaggerated data, and the annual loss to this company from them amounted to 134,895/. He, there fore, protested against the meeting entertaining the question of compromise. Mr. CAMPBELL, a member of the committee of inves tigation, said the shareholders might have the evidence published if they would consent to the expense it would involve. Mr. H. limn admitted that the directors had pur sued an erroneous policy, but ho thanked God that it could not be imputed to them that they had acted from impure motives. There was no chance of the directors being called upon to refund anything like 500,000/. because that ti as only a paper responsibility, and the company was bound to abide by the contracts which had been made for the purchase of shares. With regard to what Captain Plunkett had said, that they had expended 6,000,0001. of money without having anything to show fir it, he would simply remind the meeting that, though they had not showy stations, they had a line that in these dreary months was returning something like 6,0001. per week.—(HeAr, hear.) In conclusion, he had only to state that the directors were ready and willing to perform their part of the agreement made with the central committee, and to vote for those new directors who were best calculated to insure the future interest and prosperity of the company. The guarantees that had accrued during the past half year only amounted to 32,461/.; and it was, therefore, preposterous to say that they were not in a position to pay the interest due on their preference shares. Captain PLUNKETT said it was not fair to take the guarantees actually payable—they ought to take the whole for which the company were liable. Mr. 11. IlittnE did not think so, inasmuch as many of them depended upon contingencies that were not likely to be realised. Besides the sum he hall just mentioned, during the past half-year the company had paid 9,525/. in dividends to the Scottish Cen tral shareholders, and, with an energetic and economical management, the lino might yet get over its difficulties.—(Hear, hear.) He thought it was for the interest of the guaranteed lines to make some abatement, say one or two per cent."„ of their claims; for it would have the e ffect of increasing their securities and giving corifideece in the value of their stock.—(Hear, hear.) With regard to the incident referred to by Captain Plunkett, about the execu tion on the . engines, he ft ankly admitted that it arose from the want of money. The direc-il Ors had Leon applying the weekly receipts to the payment of the pressing debts of the company, and this inttince, alluded to by the Hon. and Gallant Pro prietor, he regretted was not an isolated case, but it would bo fur the new board of directors to deal with all these matters.—(Hear, hear.) After some further discussion the resolution was put and agreed to, and the other resolutions passed. Thanks were then voted to the chairman, and the meeting terminated after a very lengthened sitting. GERMAN HOSPITAL, DALSTON. —At a meeting of the committee of this useful clarity, it was announced from the report that the number of patients treated in the wards cf the hospital since its opening amounted to 1,855, and the out-Fatients during tho same period reached 5,726. Dispatches were received yesterday at the Colonial office trom the Governor of Canada; and ;also from the Governors of the other North American col onie2. MARKET INTELLIGENCE. (From the London New Price Go-rent, Fcb 5.) SUGAR.-- To. day there was a fair business eoncluded in bright grocery and best refining sorts of West India, for which full rates are paid, but inferior and brown sorts were dealt in with caution, and there were free sellers at the terms of Friday. The total purchases to-day were 500 hhds, including a public sale of 142 hhds 12 trcs Bar badoes, which realised full terms; good to fine yellow fetched 39s 6d to 425, and mid 33s to 395. 32 hhds Jamaica went at 38s for good strong grey, and at 38s Gd for good middling yellow. REFINED.—To-day there was only a limited business con cluded in Refined Sugar by home dealers, and prices further declined, brown Lumps selling at 483 6(1 to 495, and fair to good grocery at 49s 6d to 51s per cwt. The market fur bonded Crushed Sugar is dull at 23s 6d to 30s 6d for British. MAURITIUS. This afternoon there was little passing by private treaty in Mauritius Sugar. At public sale 588 mats went at barely former rates; fine yellow realised 39s 6d to 40s Cd, middling 38s, and washed 36s to 39s 6d per cwt. EAST INDIA.—This afternoon there were five public sales of Bengal Sugar, consisting of 6,305 bags and 64 chests, at which not much desire was evinced to operate; still the chief part sold, but generally at Gd per cwt under the rates of Friday ; good and fine grainy white went at 45s to 465, yellow ditto 41s Gd to 43s Gd. Benares, good and fine white 40s to 42s 6d, inferior 39s to 39s 6d, damp and washed 37s 6tl to 425, soft yellow 35s to 36s 6d, better sort 37s to 38s, and like Mauritius 35s to 395. Of Madras 5,824 bags all found purchasers, but at 6d per cwt decline ; low to good soft brown 28s Gd to 30s, fine 30s 6d to 31s, low to fine soft yellow 32s to 365, dry do 37s to 38s 6d, and fine 39s to 41s per cwt. FOREIGN.—To-day there was no public sale of Foreign Sugar, and by private treaty only 1,200 baskets good grey Java were sold at 22s per cwt in bond. MOLASSES.—Few buyers of West India are to be met with ; the value is from 15s to 18s for low to fine quality. Bengal Treacle can be obtained at 14s to 14s Gd. CoFFLE To-day there was no public sale of Ceylon Coffee, and by private treaty less demand existed for all pur poses, still holders were firm, whilst good ord Native Caylon is not to be obtained under 645, and fair clean Plantation 665. Mocha is still little wanted, and at public sale 165 pkgs were taken in and withdrawn at 70s to 74s for mid and good, and at 55s to 60s for bold yellow Mocha kind. Coml.—For West India prices are looking downward. In Foreign there has been little business concluded by pri vate treaty, and none has been offered at public sale, whilst former rates are not to be obtained. TEA.—Green continues in excellent demand, the low sorts especially, but in prices there is no further advance. With ord and good common Congou the market is more freely supplied, and the demand having become limited, prices have declined 1 /0d per lb, whilst sales are made at 10d to 10i-d. In other kinds a good business has been concluded at 1 Id to is 3d for medium, and at is 4d to is 9d for good and fine sorts. Scented Caper and Pekoe Tea met with less attention, and can be obtained at rather lower rates. Rica.—East India met with little attention from shippers or home dealers. At public sale of 5,300 bags Bengal not above half found buyers ; good to fine white at lOs to lls 6d, mid 9s to 9s 60, low 8s to 8s 6d, whilst cargo was taken in at 8s; 1,100 bags Madras, cargo Bs, but pinky white sold at 9s, and barley grain at 8s 6d per cwt. The purchases made by private treaty have been trifling, especially in the lower sorts. Cleaned Rice, low, to fine Patna realised 12s to 18s, broken lOs to ll■ 6d, town cressed Carolina 22s to 265, and at auction 105 tierces of American went at 19s 60 to 20s for good second sort. SPICES.—To-day two parcels of Pimento were offered at auction, amounting to 834 bags, the whole of which were taken in at 71d to 80 per lb, being above the value. 30 bags of Cloves were bought in at Bid for Bourbon; and 60 bags Ginger withdrawn. CINNAMON.—The public sales which commenced yester day, finished to-day, whilst the quantity offered amounted to 3,330 bales of Ceylon, and the chief part ,found buyers; first sort realised the terms of the last sales, but good and ene seconds went Id to 2d lower, and the fall on inferior sorts was from 2d to 4d per lb. The rates obtained for first sorts were 3s to 4s 6d, inferior 2s to 2s 11d, second sort 2s 60. to 3s 7d, inferior ditto Is. to 2s sd, third and fourth 8d to 2s 8d per lb. SPIRITS.—There are several buyers for Jamaica Rum at former rates, but few parcels are to be obtained. The purchases amount to 100 puns at Is 50 to is sid proof, and at Is 6d to is bid for line brown. There are sellers of Cogna best brands of the vintage of 1849 at 4s 4d I o 4s 6d, 1848 ditto at 4s 6d to 4s Bd, 1847 ditto 5s 3d to 5s 50, 1846 ditto 4s 7d to 5s Bd, 1t:45 do 6s 2d to 6s 40, interior sorts 2s 10d to 4s 6d, and Bordeaux at 2s 8d to 3s. In Geneva only limited pur chases have been made, ord shipping sort at is Od to Is 100, and fine for duty at 2s 3d to 35 3d. 'I he value of British made Spirit is still 9s 6d, and of Gin 7s 100 to 8s 4d for 17 to 22 per cent under proof. To-day there was less demand for Rum, still holders would not sell but at full rates, and only limited parcels are on offer. ItiElloo.—lhere has been a falling off in the demand for East India for all purposes since our last report, and former rates are not to be obtained. As compared with the last quarterly sales, the rise is, however, from 40 to 6d, and a fair business has been concluded. For auction the quantity de clared is 14,369 chests. COCHINEAL.—Prices are not higher, but there has been a more active demand, and at public sale 110 bags Teneriffe were sold at from 4s 10 to 4s 4d, and 9 bags Honduras black 4s 8d to 5s 2d. The value of low to fine silvers is from 3s 10d to 43 6d per lb. TAnnow.—There has been little disposition to operate in Russian on the spot, and prices have further declined. The value of fine P. Y. C. is 37s 9d to 38s per cwt. For delivery a desire is evinced to sell at 39s 3d to 39s GO for new; few buyers are to be met with. Home melted has declined to 36s lid to 37s nett cash, and the demand has been limited. Other sorts of Tallow are depressed in value, and larger parcels are still on offer. At auction, 480 casks of Sydney were only in part sold at 34s to 37s 6d for low to fine ; 800 pkgs South American 34s to 37s ; 20 cases East India 32s 9d to 375, and 150 csks Petersburgh Soap 35a to 35s 6d. For auction 1,800 pkgs of Tallow are declared. Ores.— In Palm few purchases have been made, and sellers are willing to accpet 31s 6d to :32s for fine, these are lower rates. Rape Seed Oil has been operated in with caution, and more desire is evinced to sell, Brown at 41s; Pale 41s 6d to 425, and Foreign at 43s 6d to 445. Linseed Oil 31s 6d to 31s 9d on the spot. 'There are not many buyers to be met with for delivery. In Olive the rates paid have been from 481 to 511 per tun. Cocoa Nut is not much in demand, and more desire is evinced to sell at 33s to 36s for ord to fine ; there are also several parcels on offer. For fine Sperm Oil ho:ders ask 821 to 83/ per tun. Seal pale has been sold at 38/ to 39/, straw and tinged 341 to 371, yellow and brown 301 to 33/ 10s. Southern Oil, 31/ to 331 lOs low to fine. Cod, 301 lOs to 31/. Lard Oil, 37s to 40s per cwt. IMPERIAL PA.RLIAMENT. (THIS EVENING.) HOUSE OF LORDS. The LORD CHANCELLOR took his seat upon the Woolsack at Five o'clock. REGISTRARS BANKRUPTCY BILL. The LORD CHANCELLOR moved the second reading of this Bill. After a few words from Lord BROUGHAM, the motion was agreed te,_ TUESDAY.' EVEN ING, PETITIONS. Lord CAMPBELL presented a petition from Ponty pool, praying for an extension of the jurisdiction of the County Courts.' The Duke of RICHMOND presented a petition from Rutlandshire against free trade, and for a restoration of protection, also a petition with a similar prayer from the guardians of the poor of Ennis. Lord CLINTON presented a petition with a similar prayer from Devonshire. CASE OF MESSRS. GRAHAM AND ELLIOTT. Lord BROUGHAM said he examined the case of Lit ut. Graham and Mr. Elliott fully, and although he agreed that in general the judgments of courts-martial ought not t ,- ) be interfered with, yet he thought tLe case of these young officers was an exception. They had been most ill-advised to plead guilty to a charge of desertion, when they had been guilty of no desertion at all, fur they had given themselves up immedi ately after they had escaped from the tyranny of Commander Pitman, who had been subsequently convicted not only of tyranny but of falsification of ac counts. If these unfortunate young gentlemen had been tried after Commander Pitman, they would never have been convicted. lie asked if there was any intention of mitigating their sentence, so as to enable them to re-enter the service. He had no personal acquaintance with those gentlemen. The Marquis of LANSDOWNE wished to refer to the First Lord of th• Admiralty before giving an answer. CLERGY DISCIPLINE BILL. The Bishop of . LONDON brought in a Bill to amend the Clergy Discipline Bill. Ills object was to ta k e a way from the Judicial Committ t e of the Privy Council the right ofjudging appeals from the Court of Arches in certain cases. He did not object to the appelate jurisdiction of the Judicial Committee on matters of law or ef fact, but he did object to giving the Committee the appellate jurisdiction on points of doctrine. He proposed to in stitute a new tribunal of appellate jurisdiction in cases of heresy and false doctrine. He thought that in such cases there should be an appeal to the Bishop, and from him to the Archbishop, and that the decision of the Archbishop should in such cases be final. The Archbishop of CANTERBURY expressed his concurrence in the sentiments of the Right Rev. Prelate, and he hoped the Bill would be carried into a law. The Bishop of LONDON bad purposely brought the Bill in thus early because he was anxious to do so before the decision of the Committee in a recent case should have bean given. Lord BROUGHAM assured the Right Rev. Prelate that there would be no jealousy on the part of the Judicial Committee with regard to the introduction of this Bill, on the contrary, they would be rejoiced at being relieved from the responsibility of giving judg ment in these cases. The LORD CHANCELLOR thought it was contrary to custom to discuss the principle of a Bill on its first introduction, and he deprecated any deviation from the usual course on the present occasion. SCOTCH MARRIAGES BILL. Lord CAMPBELL asked the Noble Earl opposite (Aberdeen) when he intended to introduce the Bill for amending the law regulating Scotch marriages, which he had promised to introduce last session, when the Re g istration Bills were defeated? The Noble and Learned Lord then read some letters, showing the abuses which had arisen, in consequence of the facility with which marriages might be contracted in Scotland. The Earl of ABERDEEN admitt ed the existence of the evil complained of, and would support any measure to prevent the evasion of the law of England by Eng lish persons going to Scotland to be married, but he considered that the Scotch law of marr ia g e was su p erior to the t nglish law, and the Scotch were satisfied with it. He would be satisfied with the law which his Noble and Learned Friend had introduced in 1835, and again in 1846, to remedy the evil, but be must decline intro ducing any measure himself. Lord BROUGHAM was sorry to find that his Noble Friend declined t) introduce his promised Bill. He would give up the subject to his Noble Friend, and would support, as he had no doubt his Noble and Learned Friend opposite would support, any measure to amend the existing state of the law. RAILWAY AUDIT. Lord MONTEAGLE rose, pursuant to notice, to move that certain returns relating to railway accounts, FEBRUARY 6, m5O for which he had moved on the 3d May ast, should be made forthwith; and to move for certain additional re tents relating tot ailroads, and to ask the Vicc-President of the Board of Trade whether it was the intention of the Goverment to introduce a Bill for the better audit of railway accounts. It was proved that, in many cases, railway companies had paid dividends out of their cop', al, and he a kal if such a system could have been pur. sued had there existed a good system of audit of railway accounts, and he would contend that had not these frau dulent practices occurred, the present deprciation cf rail way property would not have taken place. Thepermanent interests of the shareholders and the public had been sa crificed, for the purpose of keeping up for a few days the price of shares upon the Stock Exchange. The Noble Lord then went into the history of the two Railway Audit Bills which he had himself introduced during the two preceding sessions, which he denied were intended to introduce a Government audit, and concluded by putting the question of which he had given notice. He wished before he sat down to draw their Lordships' at tention to the fact thatl there were 61 applications for railway bills, and he would suggest the propriety of a JLa ding order that before any railway bill should be read a second time the whole financial accounts of the company applying for the bill should be laid before their Lordships. Earl GRANVILLE did not object to the motion for making the returns forthwith. With regard to the Bill of last session, it was impossible to pass it in the face of the great oppositien which it received from railway shareholders. He believed that they were now inclined to introduce a Bill for auditing railway accounts themselves, and ho would, therefore. wait awhile to see whether such bill would be introduced by the railway shareholders themselves, but if such Bill were not speedily introduced by them, or if, when intro duced, it should not prove satisfactory, he would then state what steps the Government proposed to adopt. Earl FITZ WILLIAM rose, and was (LEFT SPEAKING.) HOUSE OF COMMONS. The SPEAKER took the Chair a few minutes after Four o'clock. RIVER NESS. Mr. CAMPBELLot,tained leave to bring in a Bill for building a bridge over the Tiler Ness. SUNDAY LABOUR IN THE POST-OFFICE. An HON. MEMBER presented a petition from Bromley, praying for a cessation of Sunday labour in the Post office. COUNTY FINANCIAL BOARDS. Mr. WILSON PATTEN presented a petition from Cheadle, in Staffordshire, praying for the establishment of county financial boardF. AGRICUTURAL DISTRESS. Lord HENRY MANNERS presented a petition from Cambridgeshire complaining of agricultural distress in that county, and praying for elitf. Mr. SIMEON presented a petition from a place in the Isle of WigLt praying for au equalization of the burdens upon land or a return to protection. LAW OF SETTLEMENT. Sir DE LACY EVANS presented a petition from Westminster, praying for the abolition of the law cf law a settlement. CHELSEA HOSPITAL. Mr. HEADLAM presented a petition from Robert Armstrong, an out-pensioner in Chelsea Hospital, pray ing for the better regulation of that institution. SUNDAY LABOUR IN TIIE POST-OFFICE. Mr. CORNEWALL LEWIS presented a petition from a congregation cf Wesleyans in Herefordshire, praying for a cessation of Sunday labour in the Post office. Mr. P. SCIZOPE—Was the die:ary sun - hien!? Sir W. SOMERVILLE he - ieved it was preectly sufficient. His lion. Friend ni xt pr ceeded to tt , k whether during that period iequesls w( re not held within the union. lie was again t‘p akiLg from menuoty, wheiber it was during that period he could nut say, but there were some four or five inquests held in the 'in rush Union, and verdicts returned of alleged death by starvation. On one of the deceased, however, there was found money amounting to Is. 6i —(ilear, hear.) As to the mortality in the Kilrush aof khouse, he know that previous to the time when the dietary was changed, tle mortality did not exceed, if it was not below, the mot - tality of the workhouses throughout Ireland. The next question of his Hon. Friend had reference to the Second stoppage of out-door relief by the guardians of the Kilrush Union. He had received no official account whatever as to that st ippage, and he was not able to give his lion. Friend the reason of that second stoppage ; but the guardians I.all provided themselves lately with consider able workhouse accommodatior, and he (Sir W. Somer ville) thought it probable that that second stoppage was fir the purpose of irtroducing the workhouse test, with the view to see which of the pau pers ought most properly to be put upon the out door relief list. The last question of hi:: ilenourable Friend related to the dissolution of the board f guar dians. TI at board had had very great difficulties to contend with. Notwithstanding the liberal advances that were made to them from the rate-in-aid a very large debt was lift to them by the vice-guardians on their retirement from office.—(Bear, hear.) 'The Commissioners bad reason to complain of the tardiness with which the guardians 1 arl collected the rates. This much he could say, that certainly that second stoppage of out-door relief aas not camed from any lack of funds. Ile had endeavoured to answer the lion. Gentleman's questions as well as he could, con sidering the short notice he had given him. the , Li it: ~~. But this was only the beginniog o'Z the abtair , Al , int-the:- they ;:alit the i, ot e absu:d they 1( 13 " 1 5 , t. ; , by Tracy he li:td oLsorved that cunducting ini" l- ( 5 2,lendi rs of the House, parties with :persOhal n totetdesto were strictly excluded from the Committee apri te • 0 make the inquiry, but this wrs the democratic on of his Hon. Friend near him, tie Member fors IgontroF or no touch int:ovation had demoralised the p dings e i r the Ecclesiastical Commissioners. With them, a li ri : e liv any bis,hcp Lad an inter% st in the mtAtor Le vt at esPEn' s .4 surnmorcel on the committee, and when he attended.l!, (Mit e ations he ermitted to speak and voteJoeP. as much as though s hew ere a member of the Coturnitttai But not only was that so, bat every one of the epite_,P. a bench may attend any committee, si eak and vote, o°2 l of at any time they could swamp the ether roo_,. f the Committee by the number of their vottrbr, —(llear, hear.) lie had directed some 0 3 ° to deliberation to it. but he bad never Bishop realise fur himself the advantage e f such a sYst" li e shop of St. Asaph told them tint a bishop being e a . versant with the subject to be inquired into vi o :: ioo best party to give information and form su - • 11) 01 upon it, while the Secretary to the ColtainiSSiOn . iOl l ho them that a byßishop took up whatever quest ___ had practically l':, a mind to, and, as he m itt r pressed it, 'Ate worked it through the Cow been ableo° So that, whenever there was any question bae ting t the elt interest of any particular bishopric, the biaboPinthe i ‘,s t , and d worked it through in every sens e °' the the pattoy days of Toryism, wh en t he w o o r rking- I t n hrough system was well understood, o w i • o or s kings through could not surpass those a tbe . r.; or _ well t h e transacted, tastical Commission. Under such a flhear the house would not be surpri. el revelationsbutof that to , r i g that the business of the commission was rot portico:o'o carelessness , waste vv which the evidence exhibited --- ( 11 , t i ne ' s What did the House think cf . estates being sold wit'i, any valuation being taken or authorised by t he conin,,, o w iihotit_ l : o sion, or of large estates being bought etssnceosusl! pencont be a an d n ordinary precautions of a survey, or of important i.vyniers being executed without the architect of the Cumin issi • ° teeth s e u n p d plying any estimate if them, or of solicitors, a rebi _ ir. surtuyors o _ being employed without any stPo, tion oi 4' the remuneration they were to receive° wl, consequence had been that they charged As they plea lO an the taxation of a Bill which the solicitor se some years ago still remained unfinished. lation, 0 (LEFT SPEAKING.) THE LONDON GAZETI (THIS EVENING•) WHITEHALL, JAR. 26. 016 ` D The Lord Chancellor has appointed Gustaires i t., to t' s younger, of Plymouth, in the county of Devon , a Matter Extraordinary in the High Court 0. dec h eatc e ' u teeo n ` . 4 6" 0311. Dewes, Esq., to be Major, vice — Carvick, Royal East Middlesex Regiment of Ati litia-- ;Jell . 4 Commission by the Lord Lieutenant of Meilifillllllo4 1848; Thomas St. Leger Ale , ck, Esq., t° ' e Colonel, vice Tuite, deceased, Jan. 30. DalikriiP ti (lip to the time of our going to !Press the part of the " Gazette" had not been published.) t , DA,V Gibraltar ••••• 3e g 0 8 • 0 Leghorn • • • • • "' Milan.• •• ***** •• - 4 - S Venice. •••• • • '• •• •• siS Naples ••• • " " •• 1/9 Palermo, peroa.• •• .; .63/i Messina • • • • " '• .• Lisbon.. • • • • •• •• ,••• Oporto • • • • •• " ••• Rio Janeiro •• •• ;;•• • Buenos AYTeS jit N e w York, 21 d a r i eF Philadelphia • • • •:;;;, 1 1 9 micas or 80 1 .• s3 0 Foreign Gold in ba r 0 v 0 Portuga l Gold Coin .•0 Spanish Doubloons ••• 0 4 54 N ew Dollars " ", 0 4 Silver is bars .• ••' taken piSCel CURED Fisu.—An importation having my P A from Holland of a quantity of botargu, an d tbe „,,ene e „le thereon as cured fish, the officers of the Terence to ~f murred to pass the entry as such, and covsidere dor liable, as goods manufactured, to the ad va/oregin bei 10 per cent. It appears that the article 10°/:Tedl,rio targo is the roe of a fish (the red mullet), P rese- dplngli t in this instance the skins or film had be en "., 1 " Wb o tio.t rfi melted beeswax for the purpose of preset* caused the revenue officers to consider it to la °alit: manufactured goods, to an ad valorem d u ty' an d L''"; where botargo is brought in the origina l st2tr lt bo g oi,t the preparation added in this instance, ' fle . - co ,11 customary to deliver it in kt the duty of 1 g r e i ins cured fish. It is a luxury, and only im porte c ucti F b ", quantities, chiefly for presents, and under the h old 0 s p t a a s n se c d es o i n t has went tn of f ireeted that the ar s ti c c u le f :d 01 the rated duty ,/ desired. ti O n or' ' QUEEN MARY'S ROOM IN EDINBURG`" i i A ng !tr i be Additions are about to be made to this inlel es "„ - dieg ; l e nt through Major-General Riddell, comalci.oll,o' forces in Scotland, to whom the public area"rout ' t "be debted for promoting the alterations ca rt e r foe' as year, by separating the entrance altoget her a r ooa d a . • Ustteec, and renewing the oaken pawls the ri t o wally, trait after its original character. A copy of King James VI., by Jacobs Jitne y, 'hss bee s possession of W. hay, Esq., of Dense Cas tle ' bit , " - c ed generouslytaken by L a p d r y e s e M n o t e n d s o t r :; , utlh a dco nd m b a y i 0 her e L n • in s g o oeen presented Mary's a t r e o a o a m ti f Quee t n he M p a o r s y se b s y sio F n u o v f ino, oWp a y n . long in 5111. t bin ph Courant. the Trails of 0rk 13.1. SHIELDS, FEB. 4.—Wind rac aerit-r. Hesperus, Ceylon; Fanny, New York. ' f l G i t o ti o m i r i d a t n o h n e: IMPERIAL PARLIANI HOUSE OF COMMONS , F eb ' 1 4 ;bt.) (Continued frcm our Third Edition of last itt PROTECTION. u se, Mr PACKE then ro se t o a ddress the 11° A fter,d the noise occasioned by Members lea v i ng i v benett s ° Palmerston's speech, h e was very i n distinc t Coleo r te some time, while h e was alluding tohe~JiO°ceo°,l. speeches at Leeds and Aylesbury. All tleman's (Mr. Cobden s) expel ience of 01; 1 ; 1 ro e W av e derived from his recent acquisition of ° ,,f, o ce- ;or d consisted of two plots, one of 21 o c :, -- bf by a miller, the other of 32 acres, occuPi e „," keeper, neither of whom was dependent icn . te„'"gie upon firming. Now he Ou r , Parke) of bis• eitt„ farmer, would give the House the resuitl bel°,os rience on a f arm o f 1 00 acres , which u e t iettst 00 1 Loughborough. It was di v id e d into five Pu ir ",..-the acres each, under the four-course si 6v " 9 0 c li)c d b. which, notwithstanding the Hon. Gentlentsnoire 0 p et he (Mr. Pack e ) rega rded as the first ite r9 ., a s 4 1 4. 01 to be known in questions f that ncture':o eJt• acre, and the local burdens amounted ' d vet' wit A ti making a total of 312/. 10s. as the printa r Y,„. - yolill e here he must leave it to the House to d e t s' h - e t !ic e s• t ) " what degree of justice it was expected nesr.gee pJe should not only feed the poor, but best t e " r Ole rote: drainage and of making the air wholesorcel°,. tOP - 0 The Sanitary Commissioners had sent le t l e oil borough directing that it should be drains", eyed • set. could be more desirous than himself of doi n g n eoPl e ' e t that could be required for the health of tiltes.rartittiaier to avert the return of the p e stilence of istn'uld hole could not see why the expense of doing se m ace , 0) 0', elusively on the land. In the present itO,'" - t ttle.,„aio ever, as his farm was in the neighbourhoon‘,..est he would have to pay 6s. Gd. an acre for to 0 1 o p oTilohodeuesirei a o a n s o yd u se r tte a am b il l e e odf M a e o m el b y e s r is othen the p e r x oc pe e e rij ci se l : J o h P %c r ost e; pd of free trade, derived the following general results • , fee d 0 D o f t he protection farm in contrastedfrom syt.ile penditure, under the protective duties, 31 : 1 0 f Jab" Its; rearing stock, manuring the land, web i es . 11 (l i er eisg e : &c., he estimated at 1,154/. 18s. "' ce nt., °,"y I° l ,l trade, with a reduction of rent of 28 Per '„ - r i ° ,,01 1 8" From I ls. to Bs., and with an allow°," ea e se i s i,' o o ol o of stock, in consequence of the feta l n ' s e eta ° be i b y among them by foreign cattle, of 10 Pc, r ,, - tiO a c e d expenditure would amount to 90 94 1 1.ine°4 • 0. 1 A same principles he calculated the returns ° 08 1 •,. a OY; protection at 1,2634 35., leaving a profi t ,„„ ° E , end e 'bsol°4 to the farmer, as compared with the Inee" - ve se • eo 0 " tern of free trade of 902/. 55., which gad 6guLeilacti°ll2 loss to him of 71. 17s. Id. Those facts tiAll the e-tree°; not be coatroserted or overturned , au" to th e ders a° , would be that free trade must be ruble° es Ol e& ft; farmers as well as to their labourer& n: V o il t l l circumstances the Royal Speech was reau,,,,jeoc Kt !lament as called ou to " unite with her ,PL' est i ii . 00 aD sincere gratification with which her l lii , c eeo ilrl ve be .; r.essed the increased enjoyment of the 7; my " c ate: cumfarts of life which cheapness end o rse 141 ' 9 , 4 ,03qt; stowed on threat body of her people., , t selt„,,b" bso a loss to know where that increased en.l. ° / te d. P e 0 0 2 6 series and comfort lay. He denied it Ol s 5 thol e itt e h - e hesitaion in saying that the passage , s w :yrero4o ol : e s, untruth ever uttered in the House. who scot "di trw body of the peppie ? The ag ricultu t r o al be e T ri s i t u re i l t .: o , it t b l r b ee affirmed, and the Speech admitted, By the population returns it would b° in number of that class, with their dependr t he 014 kingdoms amounted to 17,469,79 3 , 'Abig e W 3 36 19 6 ' 0. - aolis turing classes only nurehered 9, to rero h a A- - of were they to be toad that the miteuis4.-- - gloat body of the people ?—(Hear, bet tr i '; t the r c tiof" 0 Member for Cork (Mr. Fagan) asserted t . prO% Le n e u td oe Ode. bbd Ireland had no interest in the maintenan but the thousands and thousands of bit c 0 „ n etO e ft . d he wa "rd P came over annually, without whose , ~t t ea t he A the harvests could not be got in throug_ne_"t of the country, and than whom he did inP eg 0 0 , could be a better set of men—must be ae b r e r ir 04 01 .0 9 ' it:: e t] o g pii rl iOn theiv O r to i : in that question, as on that depended t senir lt- deg re : the employment of their labour. loe ~,a t est fte ibny this te co c u b n a t T r g y e must cb b consequent u a e fl n e t c t o e n d trade. Already much bad been t" of "' the in rco l Al; injustice of the operation his - c o de- ts which compelled him to rah V VIIS r" o r come, but on one-half of his rent, will _ s , o roP 4 bo o profit, no matter whether he derived te"...„`„10 10 `", sot°, It had been stated that not only tentin be g cases, but t ee he thrown up their lands in many nt s to t he 0 compensation hal been trade to tone enc° in oil of several tkousand pounds t ,l 'o .h r i i c tl : r s : u l e e s tp lki wo o t il i b :t e e:7:ll effected by them during their tenanci•ert, ask, could any private gentleman att_ h r" tena nt Pris e, 0 0 0 ' tk.r all the improvements snake, unaer an expectation that pric_ _ to ro t „ c ol , t iat high prices would...ilv .0 it] tench to make landlords ray continue?so ha frri eta b ir Y o o l. o: 3_ .I . e ; tire enterprise of the farmer. Men r might do so if they thought cook Ow ge but the great majority of thy collar,' proper--thel atopeo CEYLON. Mr. HUME had a WtitionC> present from several inhabitants ef i Ceylon, on the subject respecting which he had put some questions to her Majesty's Governme.it last night. The main object of the petition, the sub stance of which was;read by the lion. Member, was to ask whether Government meant to make any and what com pensation for the injuries inflicted upon them by the execution of martial law during the iaty insurrection. TENANT RIGHT IN IRELAND. Lord CASTLEREAGH rose to point the attention of her Majesty's Government to the meeting which had lately been held in the county of Dowu respecting the question of te:nant right, which had been presided over by some Presbyterian minister, and at which very in temperate language had been used. lle also wished to know whether it was the intention of Govern(' cut t) introduce a Bill for the settlement of this questio,-. Sir WILLIAM SOMERVILLE said it was his in tention, on the 18th, to lay a Bill upon the table to amend the law of landlord and tenant. THE BULLION TRADE. In answer to a question from Mr. CALEY. Mr. LABOUCFIERE said it was quite impossible to give an accurt.t, account of the cxports of buliior, as so much of it was carried on through private hands. SAVINGS' BANKS—POSTPONEMENT OF THE CHANCELLOR OF THE EXCHEQUER'S MOTION. Sir G. GREY said that his Right Hon. Friend the Chancellor of the Exchequer was unable, from indispo stion, to bring forward te)-night his mction for the ap pointment of a Select Committcc on Savings' Bank:, and had requested him to postpone it until Monday. ECCLESIASTICAL COMMISSION. Mr. lIORSMAN then rose to move " that a Commit tee of this House, to which was entrusted an inquiry into the composition and management of th e Ecclesias- deal Commission, having recommended the appointment of three paid commissioners for the management of the property under the commission, it is expedient that tffeet he given to that recommendation." He said that from the nature of the Committee, which was e ppt inted lust year, he had expected that the recommendations which they would send fat th would be without bias or prejudice, but he regretted to say that he had been deceived. The events of every succeeding day proved more e nsi mote the necessity which existsd for placing the , etnporalities of the Church in safer hands He was, therefore, compelled, however reluctantly, once more to call the attention of the House to the eubjsct. It was unnecessary frr him to st tte what the Ecclesiasti cal Commission was, as, unfortunate ly, they were ail ac quainted with its character and proceedings. They knew it to be a very powerful body, exercising most important unctions, and enjoying the administration of vast funds. They knew there was hardly a county in the coustry where it did not exercise control over estates, or a parish where its influence, for good or evil, was not felt. Indeed, as regards the temporalities of the Church, it wields more more power than had been possessed by any body since the Reformation. Then, did it not become Parliament to keep a vigilant eye upon its movements, seas to take pre cautions against possible abuses. It could not be denied that the duties of the Commission cast additional burdens upon our ecclesiastical dignitaries, whose shoulders were not able to bear them. Their spiritual duties were sufli cient to occupy the whole of their time and attention, and when, therefore, they proceeded to lead themselves with other duties of an entirely opposite char actor, it was manifest that one set of duties must be imperfectly discharged. Therefore it was a matter of importance, indeed of necessity, that a choice should be made between these two incompatible duties, as a conviction was gain ing ground in the public mind that the more our Eccle siastical dignitaries confined themselves to the spiritual duties of the church, tied the less they meddled with its secular concerns, the better L would be. Another party perceives that whilst the cause of the complaint is net so much that wa have not bishops enough, as that those we I ave were not labouring ns their tight vocatior, and that they are in London de voting themselves to the administration of tempo ralities in Whitehall to the manifest neglect of spiritualities in their more appropriate sphere. It was obvious that that el, ficiency would sever be ac cepted by Parliament as an argument for supplying that deficiency out of the church's funds. Then there was another patty, and he himself belonged to that party, who took still higher ground. They said whether the duties were too onerous or too light, the pecuniary concerns of our church establish ment working the management, among other things, of dishonest estates, were altogether alien to the vocation of ecclesiastics.—(Cheers) It was not a bishop's vocation to be " a server of tables." His voca tion was of a higher order, and the calls on his time were more sacred and more imperative, and be should leave to other men the intricacies of secular business. It was fur him to be familiar with the concerns cf every parish, cognizant cf the character of every clergyman, supplying all ts ants by his energy, controlling all abuses by his vigilance, enaouraging all that was good by his ex ample,—it was n ow for him to li ve as a f at h er among his pe ople, spreading around him an atm os ph eres oflove, a ' nd reverence, and religion. Such, in its earliest days, was the Church's notion of what a Christian Bishop ought to be, and suck he wished to see her practice again. But these was a third and more numerous party who pointed to the Ecclesiastical Commission, and said that it was in competent to discharge the duties that it had under, taken to discharge, and to the enormous injury to the Church's res onus which had resulted from its manage ment. It would appear, then, that from the expressions which had been used, and from the protest which had been entered, as well as the expressions which had been used against the continuance of a system that was pregnant with nothing but evil, that there was no body through out the country more opposed than the clergy of the Church of England to a continuance of their hierarchy in a position which placed them so invidiously before the people They wished their diocesans to be removed from this board of commission, because they felt that their presence then was neither creditable to them nor beneficial to themselves. It had beers hoped that either a sense of justice or of honour, would have induced these members of the Ecclesiastical Commission to have been sensible of their duties, and that each of the talents committed to their charge, would produce its ten talents, but it was now ascer tained that no such principle could move these men that no sense of justice, no influence of principle, was at all likely to alter their future line of conduct, and that the only remedy that could possibly- be adopted for evils so loudly and justly complained of, and so mischievous in their tendency, then to compel the several members of the bench of bishops to retire from the Commission. And he could only, therefore, appeal to the justice and intellect of thst House. This Commission was estab lished in 1836, or rather he ought to say that it was the result of Commissions previously issued by which its Constitution had been recommended Consisting only of thirteen, the Commission came in course of time to give great dissatisfaction. The Bishop of London assigned as a reason for this dissatisfaction that there was not in the board a sufficient number to represent the Episcopal Bench. The popular version, however, was somewhat differed. The Commission was charged with matters that were of some consequence ❑ot only to the interests of the Church in general, but of the bench of Bishops as well. AP matters connected with the incomes of Bishop', with the building of palact s, the selling ef estates, and many little things relating to the convenience and comforts of the Bishops were in the hands of the Comission. _ A seat on the Commission came at last to be considered one of the great prizes of the church, and a violent agitation. was got up by the excluded bishops against their brethren, whom they called monopolists ; and in course of thee the doors of No. 5, Whitehall, were thrown open, and in rushed the whole episcopal bench. How it was that the deans and canons did not get in too, had always been a matter of wonder. The Commission consisted originally of eight laymen and five ecclesiastics, but the number had since been in el eased to 29 ecclesiastics and eight laymen; and whet had been the result of their proceedings? Poor pastors e ere left half sturvieg, and poor coegregations wei - e allowed to go untaught, while vast sums of the Church's treas ures were spent in palaces and luxuries for tae Bishops. The alteration in the constitution of the Comeeission had resulted in no good whatever, and as if to render confusion more confounded, they had no permanent charinar. The Commissiorer present who was highest in rank occupied the chair, so it happened that when b a junior Bi s h o p p res id e d he tee t hardly warm in his scat before he h a d to give tray to a senior Bishor, and thus a ser i es el inVirrup- Lions took place until the Archbishop of Canterbury made his appearance, and jumped over the heads of all the rest. Now, he would like to know, with such a system as this, the business of the Commission e, ! uld be properly carried on? Could the proceedings Of that House, for instance, prosper, if the Speaker had no fixity of tenure, aid was compalkti to leave his alit every few ininute? lite, ati :f to make the a . a - ter 'worse, a number of Stleet Committees LA t"- appoutte d, ye - v one tf vvbeh %la; composed of a giel . er nuileber tf Members than the number which formed the average attendances cot the board AGRICULTURAL DISTRESS. Mr. TAYLOR presented a petition from the county of Kerry, praying for the imposition of such a moderate fixed duty on the importation of corn as would relieve the agricultural distress in that county. Lord BERNARD presented a petition from a place in Cork, complaining t.f agricultural distress. LAW OF SETTLEMENT. Mr. DISRAELI asked the Chiet Commissioner of the Poor-laws when the reports of the Commit ee on the law of: settlement would be laid upon the table of the House? Mr. BAINES said he had had an interview with the Secretary fur the Home Department on the subject, and he (Mr. Baines) hoped to be able to place the report in question on the table of the [louse to-morrow. NOTICES OF MOTIONS. Mr. DISRAELI fixed his motion on the subject of the poor-laws for this day fortnight. Mr. P. SCROPE gave notice that this day fortnight he should call the attention of the House to the exter mination of Irish peasantry which bad been carried on for some time past, under the sanction of the law, and with the aid of the executive in the Kilrush and other unions in the west of Ireland. Sir R. H. INGLIS rose to order. He thought the rule was, that no expression of opinion ought to be con veyed in any notice of motion. Mr. P. SCROPE thanked the Hon. Baronet for his suggestion, and promised to alt3r the phraseology of his notice before he placed it on the paper. Mr. HEYWOOD gave notice that, on the 17th inst., ho would move an address to her Majesty, praying for the appointment of a Royal Commission to inquire into the state of the universities and colleges of Oxford, Cambridge, and Dublin, with the view to their im provement. Mr. P. WOOD gave notice that, this day fortnight he would move for leave to bring in a Bill t enable per sons refusing to be sworn to substitute an affirmation. ROYAL PALACES. On the motion of Colonel SIBTHORP, a return of the sums of money already voted for the different royal palaces for the last three yearn, the amount actually paid, and the amount due at the present period, and whether such sums already voted will be sufficient to complete the contemplated expenses at the period such were stated to be necessary, was ordered:. CAPITAL PUNISHMENT. Mr. BRIGHT moved for copies of the petitions and memorials which had been presented since the 31st January on the case of the woman who had been lately executed at Glasgow; also of the petition in favour of Charlotte Harris, who lately had been condemned to death at Exeter; together with the,numbers of the peti tioners, tnd a copy of the verdicts of the juries in each case. POOR-LAW GOVERNMENT. Captain PELHAM, seeing her Majesty's Home Se cretary in his place, begged to ask whether her AJa jesty's Government had any intention of bringing in any measures for abolishing er altering the laws of settle ment and removability, and the treatment of vagrants; for altering the rating for the support of the poor, either in reference to the chargeablity, or the property to be assessed; or for transferring any of the charges now levied upon the poor-rate to other funds; whether her Ma jesty's Government will bring in any measure for facili tating the borrowing of money from the State, or pri% a'e capitalists, by landowners in England and Wales, for the purpose cf improving the condition - of estates; and whether her Majesty's Government will bring in any measure for facilitating the sale or exchange of landed property in England and Wales, in settlement, with a view to the relief or mutual improvement of estates, and the better cultivation of the soil? Sir GEORGE GREY said that the subject of the law of settlement had been long and anxiously considered by her Majesty's Government, and that it was now in the hands of the Chief Commissioner of the Poor-laws, and that'the papers would very shortly be,laid on the table of the House, which would give much information on the subject. With regard to the second question, he was ena bled to say that the Government had no present inten tion to facilitate the borrowing of capital or of altering the system hitherto adopted on that subject.—(Hear.) He believed that about two millions had been set aside for the relief of land, and that a considerable portion of that sum had already been expended. He would also state that many applications had been re fused, not because they did not come within the specifications of the Act, but because the means had already been disposed of to previous applicants. The Government would consider whether it would be necessary to make any further advances fur this purpose. With regard to the other part of the question, he be lieved that sufficient powers were give❑ by the Bth and 9th of Viet., and if any further powers were necessary, Government would bring in a Bill for this purpose. Mr SADLEIR rose to ask the Solicitor-General, if it was the intention of the Government to introduce, Welt) Easter, a Bill to amend the Irish Incumbered Estates Act of last session. The SOLICITOR-GENERAL said it was not the intention of the Government to bring in a Bill to amend the Irish Incumbered Estates Act of last session until the working of the Act had been more correctly ascer taieed. Possibly, after a little experience, some alterations would be required in its provisions ; but the Government had no present intention on the subject. With respect to the particular points men tioned by the Hon. Gentleman, he could hardly with propriety make any observations upon them on the pre sent occasion. REGISTRATION (IRELAND) BILL. Mr. SADLEIR wished to ask the First Lord of the Treasury, if it was the intention of the Government to introduce, before Easter, a Bill to provide for a national civil registration of births, deaths, and marriages, in L eland, so as to provide for a better system of vital statistics throughout the United Kingdom? Lord J. RUSSELL replied that a Bill on the subject was in preparation, but was not in a sufficient state of firwardness to enuble the Government to bring it in before Easter. KILRUSII UNION. Mr. P. SCROPE wished to know if the Secretary for Ireland was in a position to give any information to the House in reference to the deaths from starfation which had occurred in consequence of out-door relief being refu.e3 to paupers at the Kilrus:h Union, while the guardians were in possession of funds? Sir W. SOMERVILLE was afraid it was not in his power to give his Honourable Friend so satisfactory an adswer as perhaps he had a right to expect, and which certainly it was his desire always to give to questions put to him of this kind. He must throw bimseif upon the indulgence of the House, as it was quite impossible fir him to procure the information required with only twenty-four hours' notice, but relying upon such ir.formation as ho had received btfore notice of these questions was given he could state that was quite true that in De cember last a large number of persons who were in the receipt of daily allowances teased to receive ti at allow ance in the Kiliush Union. It was caused by a want of means on the } art of the guardians, the contractors ; acing relitel to supply them wish the necessary provi sions for making the allowances. From the same cause it was equally bus that, for a very short tie e, the tecessity was (breed upon the guardians of sit( rang the dietary within the walls of the workhouse; but he d his Hen. Fri nd and the House to remember :hat during the time the d my allowance ceased to be dis tributed to the paupers there was room for several hun dred p ersons w ithi n the walls of the workhouse. COURSE OF EXCH Amsteniam ...... •• .• 12 2% Ditto, at sight • • .... 12 1 Rotterdam .......... 12 2% Antwerp • ......... .... 25 67 Flamburgh .• •..•M.B. IS 12% Adtona • • Paris, 3 dttys'sight 25 45 Ditto, 3 months .... 25 67% llarseilles ....... 25 67% Bourdeaux.... . . 25 67% Frankfort on Maine..... 121% E'etersburgh, Sil. Itble 37% Berlin • ........... • • • • Vienna, effec. f 10...... 11 33 Trieste, ditto.... • • .... 11 33 Sladlid • • .. • • ........ 49% Cadiz • • • • • • • • • • • • • • • • 49% tiilbac. • • • • • •• •• • • •• • J Barce'ona ............ SeTille•• •••• •• •• •• • l c (