The Liverpool Standard and General Commercial Advertiser. — Liverpool, Merseyside, England, 1847-11-30 00:00:00

TUESDAY MORNING, NOV. 30, 1847. WE give in another column, the particulars of the intelligence brought from America by the steam ship Caledonia. The New York papers are in raptures as to the continued success of the mili tary operations against Mexico, which is represented "as settling down gradually into a country almost annexed to the United States." , General Taylor was coming home and General Scott was expected to be relieved. The attention of the American public was, however, taken from this subject by the approaching contest for the Presidency, for which the most prominent candidates were, Mr. Van Buren, Mr. Clay, General Scott, and Mr. Polk. The Caledonia has brought £156,000 in specie, which makes upwards of £200,000 received in this port from New York in five days. The steam-ship - Washington was expected to bring the same amount of specie as the Caledonia. It will be seen from our Foreign Intelligence, in another column, that important news has been re ceived from Switzerland. Lucerne was taken by the Federalists on the 24th inst., after a sharp action. We are glad, however, to find that France has joined, without hesitation, in the counter project proposed by the British government as the basis of mediation in the affairs of Switzerland. We confidently hope that this co-operation will have the effect of restoring peace to that interesting and by no means unimportant part of Europe. The Tunes, of yesterday, gives us the following informa tion on this subject. A protocol or diplomatic convention was signed in London on Friday last by the Duke de Broglie and Lord Palmerston, with the knowledge and concurrence of the ministers of the Northern Powers in London and Paris; and Sir Stratford Canning has already left this country for Berne, taking Paris in his way, for the purpose of urging the Federal authorities of Switzerland to suspend their violent proceedings, to arrest the effusion of blood, and to submit the terms recom mended by the principal Cabinets of Europe to the consideration of both parties in this unhappy war. No man could have been chosen for this important service more qualified than Sir S. Canning by diplomatic experience and by personal rectitude to perform it with prudence and resolution. We have repeatedly called the attention of our waders to the unjust way in which our colonial interests have been treated by the powers that be. The most urgent remonstrances have been made in vain, and although the strongest representations have been made from the West Indies of the in evitable ruin which hangs over those valuable pos sessions, no effort whatever, corresponding to the emergency, has been made, and the small instal ment of relief recently granted by the government is not likely to be productive of any very wide spread benefit, as is evidenced by the following communication from a well-known correspondent : " It is an axiom in colonization, that where land is cheap Mired labour can hardly be obtained. In Jamaica we get it as a favour, and at the price the negro chooses to ask, generally half a dollar for six hours' wretched work, and then it must be done in his own way and at his own time, so that economical improvement, by means of agricultural in struments, &c., can hardly be effected. I lately sent out a superior agriculturist to tile-drain my estate, and otherwise cultivate it on modern English principles. He writes as fol- lows :—" Draining is out of the question ' • not a negro will we the spade. I wished the ploughman to alter his mode and go a little deeper. He swore at me and said, if his way did not suit me he would leave the estate.' I went a little further, and observing the cattle out of condition, I said to the youth who was attending them, Come home with 1113 and I will give you some rock salt to put in the peas.' He poured forth a volley of curses and swore he would leave the property rather than lower himself to carry salt." Surely Lord Grey misunderstood the depu tation when he said, in his letter to the governor, we did not complain of a want of industry, but want of numbers. Could we get a real day's work for our money we might double the production with the present population. " I have on my estate about 100 resident creoles, and have lately added 60 coolies ; I have only 200 acres in cul tivation for canes, and yet I cannot keep them half cleaned or manufacture them in proper time. The creoles, for about a month at Christmas, three weeks at Easter, and for a week or so at a time at other periods, will not work at all. The coolies take example by them and are also physic ally inefficient. I have now a vessel at Madeira in search of Portuguese labourers. Now, at last, when the mischief is clone, and too late I fear for a remedy, the Colonial-office says we shall have free trade in labour ; that we shall be permitted, at our own great expense and risk, to send ships to Africa ; but, alas ! few among us have the courage, and fewer the means left to do this. A year or two ago and we should have hailed the tardy justice with eagerness and hope; the results of last crop have fatally paralysed our ener gies, and our means, and this reluctant concession, unless regard is paid to the other claims in the Jamaica memo rial, will not justify a prudent man in fitting out a vessel for Africa. I think you, Sir, will do justice to the tone of our memorial; we do not dispute the principles of free trade, though the effects have been our ruin. I ask, and surely with reason, that at least the present discriminating duties be temporarily maintained in consideration of our peculiar position, and until we have, by an adequate supply of free labour, a fair field of corn• petition with slavery. Lord Grey says, ' Public opinion has willed, that if the cultivation of sugar by free lab6ur cannot be maintained by free trade it cannot be main tained at all :' but it must first will to give us free labour, or the experiment cannot be tried. Its will is otherwise a tyranny and a mockery. The corn grower has the pro tection of freight and expenses against the foreigner ; we have none whatever." The Manchester Guardian on Wednesday last, heralded to the world a discovery, which he ap peared only just to have made, and which has been revealed to him by the result of the recent failures of houses engaged in the East India trade. We shall allow our contemporary to state the discovery in question in his own way : Many times, during the present year, we have—fol lowing the general character of the Indian advices—ex pressed our surprise at the accounts which, for two or three years back, have been received of the continual losses by which that trade, both outward and homeward, was said to be attended. It became, at last, a perfect puzzle. Cotton twist and cotton cloths cheaper in Cal - cutta than in Manchester ; sugar, indigo, silk, and lac dye always dearer in Calcutta than in London ; losses of at least the freight, insurance, and commission on manufac tured outward—and of even something more on all kinds of produce homeward—formed the ruinous monotony of Indian news, mail after mail, month after month, and year after year. In vain we asked ourselves, why are the exports of goods continued to be sold at a loss ? why are prices paid in Calcutta for produce higher than those re ceived at the - time in London. These were questions which we and others continued to ask, sometimes with a tone which betokened a doubt of the fact, and which sometimes betrayed a fear of the fatal solution which, some day or other, such events must receive. The time has arrived when they have received their solution ; and it is one which, in its history and its conclusion, deserves to be closely marked and studied by the commercial com munity of this country—to be set up as a beacon of warn ing to our merchants in future." " The system which these recent failures have brought to light, explain the puzzle of endless losses which our India trade presented. Where see the naked facts, we only wonder that those losses were ever owned to, or that we should ever have heard of anything but extraordinary gains. Of late this trade seems to have been converted, by - those large houses, simply into a convenient means of " - raising the wind," and with little or no bona fide object of entering into transactions for the sole sake of the profit they would yield. Obtaining advances seems to have b e en, in too many instances, the primary object, while profit or loss has been only the incidental consequence. Purchases, therefore, were not made—whether as regarded quantity or price—so much with reference to the wants of the market to be supplied, as to the financial obligations which it was necessary to meet. " The India trade has been one huge system of credit. If goods were bought in Manchester by a house in Lon don, they were paid for by bills at six months' date; and, as soon as shipped, an advance was obtained again by a bill at six months for a large part of the first cost, by the consignee, who again, in his turn, not unfrequently drew upon the house in India, against the bills of lading when transmitted. The shipper and the consignee were thus both put in possession of funds months before they actu ally paid for the goods ; and, very commonly, these bills were renewed at maturity, on pretence of affording time for the returns in a ' long trade.' Moreover, losses by such a trade, instead of leading to its contraction,' led di rectly to its increase. The poorer men became, the greater need they had to purchase, in order to make up, by new Advances, the capital they had lost on the past adventures. Purchases thus became, not a question of supply and de mand, but the most important part of the finance opera. lions of a firm labouring under difficulties. " But this is only one side of the picture. What took 'Place in reference to the export of goods at home s was taking place in the purchase and shipment of produce abroad. Houses in India, who had credit to pass their bills, were purchasers of sugar, indigo, silk, or cotton — not because the prices advised from London by the last overland mail promised a. profit on the prices current in India, but because former drafts upon the London house would fall due, and must be provided for. What way so simple as to purchase a cargo of sugar, pay for it in bills upon the London house at ten months' date, transmit the shipping documents by the overland mail, and in less than two months the goods on the high seas, or perhaps not yet passed the mouth of the Hoogly, were pawned in Lombard-street—puttin g the London house in funds eight months before the drafts against those goods fell due. And all this went on without interruption or diffi culty as long as bill-brokers had abundance of money ' at call,' to advance on bills of lading and dock warrants, and to discount, without limit, the bills of India houses, drawn upon the eminent firms in Mincing-lane. But the first breath of discredit, the first great scarcity of money, has thrown the entire system into confusion. The first link that broke shattered the whole chain to pieces. But we fear that in the fall many houses, deserving a better fate, actuated by more legitimate and bona fide motives, have been carried away in the common wreck." We give the Guardian every credit for the cor rectness of his statement of facts ; but we demur to the existence of anything in the. nature of a discovery. Any tyro in commercial affairs well knows that this apparently unsound mode of con ducting our commerce with distant markets has existed almost time out of mind. Shippers of manufactured and other British goods have for years past given long-dated paper in payment for them, or received such paper in advance upon their invoices. Shippers of colonial and foreign produce have also, from time immemorial, drawn upon the consignees in Great• Britain. How the large opera tions resulting from our export trade could be otherwise conducted, it is difficult to discover. With the exception of the use of longer-dated paper, our trade with the nearer markets, and even our home trade, is conducted upon the same prin ciple. The party selling manufactured goods, or British produce, is seldom the party directly im porting the remittance in foreign commodities. In the meantime the bills drawn as the representa tives of the value of either constitute a circulating medium, which answers, in ordinary times, all the same purposes as if the British manufacturer and the foreigner transacted their business in the way of barter. That the system is liable to be abused, is per fectly true. That it has been abused from time immemorial, by scheming adventurers, and by parties placed in positions of temporary difficulty, is also true. But it is neither true that its abuse is confined, or ever has been, to the mercantile houses trading with India; nor that the operations of those houses have been of that reckless character described by the Guardian. A large portion of our entire foreign trade has for years past been so carried on that—to use the words of the Manchester Guardian—" it became a perfect puzzle " how "cotton twist and cotton cloths" could be sold "cheaper in Calcutta than in Manchester." For a large portion of our fabric, the various foreign markets have served the manufacturer as wholesale slaughter-houses. The London market frequently serves him in the same capacity. Consignments to the latter are made, and drawn against, and have been done so for years, more frequently " for the purpose of ' raising the wind,' and with little or no bond fide object of entering into transactions, for the sole sake of the profit they would yield." But with respect to the alleged reckless character of the transactions of the large India houses, de duced from this fact that goods appeared to be selling at lower rates in Calcutta than in Manches ter, and the conclusion formed that such goods were only purchased to enable the buyers to meet current engagements,—in a word to sustain insol vency, our contemporary has omitted a few con siderations which, duly weighed, would go far to diminish the onus, which he throws upon the houses in question. In the first place, he omits to remind his-readers that, whereas low prices have of late awaited our shipments of goods to India, the losses thus entailed upon the exporter have not, as in ordinary years, been balanced by profits upon the produce returned. We have been sending goods to a market from which our free-trade policy has prohibited a profitable return in many of its most im,lortant staples. A bale of Manchester cottons may have been, a few months ago, sold in Calcutta at less than its money price in Manchester. It, however, still bought the same quantity of sugar which the merchant had been accustomed to receive for it ; and had that sugar brought in the British market anything like its ordinary value, the appa rent loss submitted to would have, been made up. But we have brought down the price of colonial free labour sugar by our free-trade measures to the level of the foreign slave planter's prices. Our currency system has aided in the work of deprecia tion, in this and other descriptions of Indian pro duce. And hence our ruin and sacrifice which have ensued. Undoubtedly some of our large East India houses would have acted fortunately if they had sus pended their business sooner. But it is as little in our power always to decide for the best, as it is to foresee coming evil. Men will• naturally hope for a turn in the tide of affairs, when it has set in against them; and many, who thus held out until the action of the government upon the Bank Charter afforded them a relief from the pressure for money, will ultimately be enabled to conceal from the world the fact that they were ever within reach of the same fate as the vilified parties who, previously to that time, were compelled, or advised, to yield to the storm. It must be borne in mind that, whatever may prove to be the description of balance sheets which the suspended houses in trade exhibit in these disastrous times, when the depre ciation which has taken place in every description of property is so overwhelming, that, but for a shock which few commercal communities could have stood, the bulk of the houses in question would have been perfectly solvent, and some of them of undeniable wealth. As the result of the present state of things, con nected with th e East I ndia trade, the Guardian says : " There is, at least, one consolation. The system is exposed ; the bubble has burst, and the honest merchant, who has hitherto conducted his trade on true and legiti mate grounds, but whose efforts have been rendered fruit less, by the unequalled competition of reckless specula tors, will now find the atmosphere cleared, and the markets in India controlled by the simple and certain law of sup ply and demand. Supplies of British goods will be kept down to such a quantity as will secure a profit, and the price of produce to such a rate as will insure to the ship per a fair remuneration. Trade will resume a healthy tone, being governed by no other motive but that of fair and legitimate profit. But, in order that it shall continue so,—in order that the just recompence of capital and in dustry shall not again be sacrificed to the mere commer cial adventurer,—the whole system of long credits, hitherto granted in the India trade, must henceforth be abolished. If not, the severe ordeal through which we have now passed will have been in vain as a lesson for the future." Of course, having ruined one race of merchant princes by our capricious policy, we shall have a new race of smaller men, blowing themselves up to a size sufficient to fill up the same space in the world, and to explode at length with the same loudness of report. Supplies of British goods will be kept down to such a price as will secure a profit; and hence, the manufacturer must produce a little less. In the meantime, however, it is quite pos sible that the supply of that quarter of the globe with European commodities may fall into the hands of some fortunate people, who have neither a cur rency screw at one end of the commercial chain, to keep the home merchant vacillating between a condition of wealth and of insolvency, nor a legis lature willing to vary its fiscal system at the dic tation of every fluent demagogue, whom a mob of fools may choose to exalt into an oracle. There is no truth in the report contained in the Man chester and Salford Advertiser of Saturday last, that the Burnley Branch of the Craven Bank had suspended payment for fourteen days. The Rev. Wm. Pollock, M.A.,of St. Mark's, has been presented by some of the ladies f his congregation, with hangings for the pulpit and reading desk, and cover for the communion table, all of velvet, carpet for the chancel, and a very handsome set of books. We deeply regret to state that the body of Mr. Thomas Lunt was found in the canal near Chisenhale-bridge, yes terday morning, soon after five o'clock. The last time he was seen alive was Sunday afternoon. Mr. Lunt was a highly respectable man, and occupied, as a flour dealer and bread baker, three shops in various parts of the town. One was in Gerard-street. THE WEATHER, since our last, has continued as mild as in the previous week, portions of some days being as mild and sunny as if it were spring. The sowing of wheat has nearly been completed in the districts around us, and in some fields, where sown lately, it is already well above the ground. The grass fields continue to look beautifully green. COMMITMENTS AT THE POLICE-COURT YESTERDAY. — Mary Roberts was committed for one month, for robbing a man of £2 10s.—James M'Connell, for stealing a pig of iron from the quay ; and James Passington, for stealing a similar article from a cart, were each committed for 21 days.—A woman named Mary Jones, was committed for trial for having on Satur da y stolen from the shopdoor of Mr. John Bradshaw, ready-made linen dealer, in Scot land-road, a shirt, which , on her bei ng followed and d under her shawl, pearched was found come* ..,,~~ TO CORRESPONDENTS. 'We believe that the opening of the Caledonian Line will bring Liverpool within seven hours ride of Edinburgh and Glasgow. We have little confidence in the statesman alluded to by "Verax." He will not do for a Protestant leader. The " Veteran Financier" is believed to be Mr. Herries, who was Chancellor of the Exchequer in 1827, and has also held other offices. 'We are quite unable to answer the inquiry as to the practice alluded to by "Two Subscribers" being in existence "some where." A gentleman complained at our office late last night of having been rudely ejected from the Concert-hall by the police. According to our informant's statement, be was merely re questing some parties in- front of him to sit down when he was seized and dragged out. • We think the police cannot be too cautious in resorting to such a step, which is only justi table when a disturbance is threatened. Ebr Lthrrpoot OtanbarZi. Yearly subscription: In Advance, 15s. On Credit, 1:s. TIIE LIVERPOOL STANDARD. THE ROYAL BANK. A general meeting of the proprietors of this bank was held in the Bank, yesterday, at twelve o'clock. The ob ject of the meeting, as announced in the advertisement calling it, was stated to be as follows : " To receive the report of the committee and directors, which will be presented to the meeting, recommending the re-opening of the bank, on Wednesday, the Ist day of December next. To take into consideration the alte rations in the deed of settlement - of the company, which will be submitted to the proprietors as necessary for their security in future. To take into consideration the call of £lOO per share made upon the proprietors, and to deter mine upon and confirm the acts of the committee of shareholders and directors in the recommendation of Preference Shares of £lOO each, bearing interest at 7 per cent., in lieu of the call ; and on the reduction of the original shares, from shares of £l,OOO, £5OO paid up, to shares of £2OO each, £lOO paid up. To receive the re signation of the old directors, and to appoint five directors in their stead." Shortly after twelve o'clock Josras BOOKER, Esq., took the chair: He said, as the medium of communication between themselves, the directors, and committee, he threw himself upon their indulgence and kind forbearance, and bespoke that indulgent consideration for himself and colleagues which had been extended on two former occa sions, and which gave effect and energy to their proceed ings (applause). Since they had last met, the attention of the committee had been occupied in revising the deed of settlement, and in its altered form it had been placed in the hands of each proprietor ; also, in furnishing a third report for the information and approbation of the proprietors, which he should now have the pleasure of reading : Report of the Committee appointed at a Meeting of Shareholders of the Royal Bank of Liverpool, on the 6th of November, 1847. " Your committee have now the satisfaction of laying before you the result of their deliberations since the adjourned meeting of the 6th instant. The former report was necessarily incomplete, and only of a recommendatory nature, as the committee were then much restricted for time in examining such numberless details. " They have since been almost incessantly engaged in arranging the affairs of the bank, and they rejoice in being able to report that the available assets will exceed their expectations, so considerable a sum of money having been received in reduction of current accounts.— (Cheers.) " The important exception is that of Messrs. Barton, Irlam, and Higginson, against whom a fiat in bankruptcy has been obtained ; and prompt measures have been adopted to secure for the bank, in common with Messrs. Barton, Irlam, and Higginson's general creditors, every advantage that can result from the winding-up of that concern, and they trust that, under good management, and with active and energetic co-operation from all parties from whom assistance can reasonably be expected, the loss resulting from the large debt will not be so great as was originally apprehended. (Loud cheers.) " Your committee have directed their most anxious attention to the Deed of Settlement, which has undergone a complete and searching revision ; and, as a copy of the various alterations proposed by your committee is now in the hands of each shareholder, it will be perceived that every precaution has been taken to secure an efficient and responsible executive, and placing' such a controul over the general management of the affairs of the bank as will protect the shareholders from such results as the% have lately had to deplore; while the operations of the bank will remain unfettered for every legitimate purpose, with the fullest guarantee for the future stability of the esta blishment. (Applause.) " Your committee have pleasure in stating, that satis factory arrangements have been entered into with the London Joint Stock Bank, the directors of which have met their wishes in the most liberal manner ; (cheers) and nothing is now wanted to confirm their arrangements but the sanction of the shareholders to the re-opening of the bank. (Hear, hear.) " A considerable number of preference shares have already been subscribed for; and your committee have no doubt that, when the remunerative character of these shares is taken into consideration, coupled with the secu rity and advantages afforded by the alterations in the Deed of Settlement, the remainder will be speedily taken ; thus giving the bank a broader basis, with an increasing capital, and offering the most favourable inducement to a much larger constituency. " Your committee have pleasure in stating, that the manager has met the exigencies of the occasion, with reference to his own remuneration, in a manner that must be gratifying to all. (Loud cheers.) " Your committee have now only to add, that the arrangements which they have made, and the recommen dations which they offer, are the result of the most serious deliberation ; and they feel assured that the sanction of the shareholders will be cordially conceded, so that the bank may resume business on the Ist of December next, according to the notification already given." The report was received with considerable applause. The CHAIRMAN said, I have to congratulate you, gen tlemen, on the prospects of the re-opening of the bank under such favourable circumstances. I am not fond of extravagant professions, nor is this the time or place for making a long speech, and more particularly when we look at the work (the reading, we understood, of the Deed of Settlement) which our solicitor has before him. But myself and colleagues must be insensible indeed if we do not feel deeply the marks of distinction, of favour, which have been shown by the depositors in this bank.— (Hear, hear 1 and applause.) They .have exhibited un bounded confidence in the integrity and the stability of the institution ; and as to you, gentlemen, who are pro prietors, I am sure your duty will be promptly met by taking up the preference shares, and vieing with each other in efforts to launch the gallant barque once more to the place it formerly occupied. (Applause.) Gentlemen, there exists between the proprietors and the customers of this bank a reciprocity of obligation. (Hear !) The well being of both are intimately connected. Your future di rectors, I am sure, will bestow that unremitting attention to this important subject which it merits : and, gentlemen, I should belie my own feelings, and those of my respected colleagues, if I were not to confess to you the deep feel ings we have, and the pleasure we feel, in associating our names with the resuscitation of the bank (applause) ; an event so anxiously looked for, and so well calculated to restore commercial confidence both at home and abroad, its benefits not being confined to depositors, or share holders, or customers, but directly and indirectly to the community at large. (Loud applause..) Before I close my observations, gentlemen, permit me to express one wish—that a kind Providence may so guide your new directors, in their future proceedings, that they may in deed deserve success. (Applause.) I have now to move from the chair, that the report now read be received and adopted, and that the Bank be re-opened on the Ist of December next. (Loud applause.) Mr. S. HOLME said, in seconding the motion, which it was his intention to do, he was sure they would not con sider him presumptuous if he offered to the meeting a few observations. ( Cheers.) He could not help contrasting the position in which they now stood with that unfortunate assembling together a few weeks ago, for at that period, even solvent men looked upon the state of affairs with anxiety and fear •, but as men, when they act precipitately, always act foolishly, so he then thought, and having moved the appointment of that committee, he was gratified it had been appointed to investigate their affairs. ( Loud cheers.) It was now, therefore, a matter of congratula tion, whilst they were bound to admit the shareholders must submit to a great loss, that they had neither lost their honour nor the bank its credit, and that the whole of the deposits, together with the balance of current accounts in the bank were just as safe as if they were in the Bank of England. (Loud cheers.) He congratulated them that whilst that bank was in a position to give all the legitimate accommodation which could be reasonably required, he believed speculation with the money of the bank would be discountenanced, and it would be impossi ble in future for any one or two large concerns to absorb its capital. (Applause.) He had no doubt the future direc tors of the bank would learn prudence from the past, and that it would again possess what it did previously, namely, that public confidence which was part and parcel of the great arch of Britain's credit. (Continued cheers.) He could not reflect, without shuddering, on what the conse quence would have been if the bank had wound up its affairs ; and he told mercantile men that, by such a course, prudence must have been sacrificed ; and it would have been difficult to say where the mischief would have ended had the bank been called upon to adopt the resolution which was proposed. (Hear, hear.) — He (Mr. Holme) hoped the warning which they had re ceived, locally as well as nationally, might be the means of checking that inordinate speculation which had become a national misfortune, if not a national crime ; that good may have accrued to the country from the interregnum which had occurred in the business of the bank,. and that its operations may for the future be based upon the only proper footing they ought to be based on, namely, labour and industry, and not upon the most baseless of all, namely, reckless speculation. (Hear, hear, and cheers.) He thought it necessary to say a word or two upon a practical subject. He attended a meeting of the com mittee, at which a resolution had passed that each depo sitor should have six per cent. for his money. He was glad to learn from all the depositors with whom he was acquainted, that such a determination was most satisfac tory, and he trusted that spirit of forbearance would still be manifested by them which would enable the bank to resume its operations. (Hear, hear.) Another point to which he wished to call their attention, was the very hand some manner in which Mr. Chaffers has! met the difficulties with which he had been surrounded. (Cheers.) By the present management, the salary which Mr. Chaffers was to receive would be reduced to what it was when the bank was first established. (Applause.) Then the committee, after much and serious consideration, had resolved to ad mit that class of the community to which he had the honour to belong, by reducing the value of the shares, so that the £lOOO shares, with. £5OO paid up, were now to be converted into five shares of £2OO each, with £lOO paid up. By this means a larger basis would be given to their operations, which he trusted would result in a larger consti tuency as well as increased capital. It had been decided that there should be two paid directors, which would he a guarantee that there would be a proper supervision over the affairs of the bank, and they, together with the mana ger, would afford a check as much as could be tha t s uch a calamitous event as had recently happened would not happen again. (Hear.) There would also under the new deed of settlement be a board of seven directors, who would form a court of appeal, by which questions in which the manager and the paid directors could not agree would be decided. Another provision of an important character was, that for the purpose of carrying on the legitimate objects of commerce, capital would be advanced to the extent of £50,000, but beyond the sum of £20,000, which may be advanced with the consent of the executive, security will be required from every man who wishes to exceed that sum. These were some cf the principal mat ters contained in the proposed deed, but he should not consult his own feelings if he did not bear his testimony to the services afforded by the committee. They had been almost incesaantly engaged its affairs. Mr. Highfield, Mr. Booker, and Mr. Tyrer had been to Lon don, no doubt at considerable personal inconvenience, and had given their service to the bank almost day and night. ( Hear.) His learned friend Mr. Lowndes had also exhibited such a knowledge of commercial law as somewhat startled him (Mr. Holmes.) He, there fore, trusted the new deed of settlement would be satis factory to all. (Cheers) Allusion had been made to the gallant ship. He trusted he might be allowed to take up the idea, and add that she had now been strengthened— a quantity of new timber had been placed in her—she has been newly rigged, and it was for the meeting to appoint proper officers to command her. (Cheers.) He trusted they would appoint such as would not be afraid to take the command : and looking at the rich freight she carried—the welfare and prosperity of a community like that, and her operations upon the world (for Liverpool traded with all the world), he envied not the feelings of the man who could not say " God speed her."—(Applause.) He hoped every one present would be able to join in the lan guage of their bills of lading, and say—" So God give the good ship a safe and proSperouslivoyage,"—(Cheers.) Mr. Holme concluded by seconding the motion, and ex pressing a hope that it would be carried without one dis sentient voice. Mr. A. F. JONES said that having had the honour of seconding the motion of Mr. Holmes, for a committee to be appointed, he had now great pleasure in supporting the motion. The motion was then put and carried unanimously, and with acclamation. The CHAIRMAN said the next business was to call upon their respected friend Mr. Lowndes, to read the clauses in the deed of settlement. _ _ Mr. LOWNDES then proceeded to read the several clauses, and the vote was taken upon each : "Abstract of the Deed of Settlement. " ART. 2 provides that the capital be £2,400,000 ; that the original two thousand £l,OOO shares be converted into ten thousand £2OO shares ; that five £2OO shares give the qualifications and votes of an original £l,OOO share ; that four thousand £lOO preference shares be created, two to be allotted to each original holder, and their liability to commence with January 1, 1848." In answer to questions from one or two proprietors, Mr. LOWNDES said, to each holder of shares to the amount of £l,OOO, there would be allotted two preference shares ; but if the proprietor did not signify his intention of holding those preference shares, they would be allotted to third parties, in which case the original proprietor would not be called upon to pay the £lOO deposit due in January next. The CHAIRMAN thought the preference shares would have a very beneficial effect. He had not the honour of proposing the measure, but it had been proposed by one of his colleagues, and he considered it a very clever pro posal. The clause was then carried unanimously. 4.—The paid-up capital only to be employed in advances on open account. Mr. LOWNDES observed on this, that the ori g inal deed gave very ample powers, and that was a modification of it. Mr. A. F. JONES—That is to say that the rest, when ever it may accrue, shall not be used. The CHAIRMAN—Just so. Mr. JONES—Either with or without security. Mr. LOWNDES—It has reference to the clause which goes to the extent of £50,000. The clause was then adopted. s.—The management to be vested in seven ordinary and two paid directors.—Carried. 10.—The appointment, dismissal, &c., of officers vested in the ordinary directors. On this clause, at the suggestion of Mr. Cooper, it was rendered imperative on the Directors to require security from officers.—Carried. 11.—The directors to appoint the paid directors, who must hold three £lOOO or fifteen preference shares, and whose salary must not exceed £1000; . that Mr. Chaffers continue manager; and that both paid directors and manager be removeable, under certain conditions, by the directors, but, otherwise, only with a concurrence of a majority of the proprietors. A PROPRIETOR objected to the salary of £lOOO. The CHAIRMAN said it was expected the directors should give their attendance from ten to four o'clock every day, but their duties would be more onerous at first than after, as at present the winding-up of great concerns would require their utmost attention, and therefore he did not think it too much, for when they had to deal with hundreds of thousands they ought to have men of business. Mr. R. ZWILIHENBERT would limit the salary to £5OO after the first year. Mr. HoLmE could not agree with the last speaker. They could get, no doubt, ten thousand men who would jump at £5OO a year, but what would they be worth. He was of opinion that to adopt the course proposed by the last speaker would be penny wise and pound foolish, Mr. COOPER would leave it to the directors. Mr. ATKTNSON proposed that the salaries should be fixed annually. The CHAIRMAN thought no man would leave his busi ness on such terms. Mr. HOLME contended the matter ought to be left with the directors. He would not consent to act as a director if he was to be a mere automaton. The clause was then adopted. 17.—That the board meet once a week, to examine the balance sheet of the previous week, and providing how special meetings are to be convened. Carried. 24.—That the paid directors and manager be a perma nent committee, two being a quorum, to determine upon advances or the opening of accounts ; applications to be refused if one of the permanent committee object ; that the limit of advances be entered in a book, to be revised once a week, and altered when necessary ; that the com mittee from time to time revise securities received ; that no advance be made beyond £20,000 without security, and that the highest advance on any security whatever be £50,000; that letters of credit be considered advances from the time of issue ; that the bank shares be no secu rity; that any credit must be withdrawn, or reduced, if one of the permanent committee shall at any time desire ; and that the general directors possess a checking power over the decisions of the special committee. Mr. COOPER objected to the sum of £20,000 being ad vanced. He thought £lO,OOO quite high enough without security, and £25,000 with. He thought making snch large advances would shut out tradesmen from being ac commodated. The CHAIRMAN said it did not necessarily follow that every one who applied was to he accommodated to the full extent ; and as regarded the limit proposed by Mr. Cooper, they should remember that it was on active capital that the bank made money. He was of opinion that if the proposal was adopted they might as well close the door of the bank, for no mercantile firm would look near them. The clause was then Carried, Mr. Cooper's proposition being withdrawn. 25. That directors, paid and unpaid, and manager, have no vote on advances, &c, when connected in business or united by relationship with parties applying, &c. ; that no advances be made to a director without consent of paid and general directors and manager; and that paid direc tors and managers have no advances whatever. Carried. 27. That £lOO on preference shares be payable on January 10 next ; such payments, when made, to stand in place of previous call of £lOO ordered on each £lOOO share ; that if the proprietors do not take up their rate able proportion of preference shares by that date, the directors may sell them as they think fit ; that such sale shall relieve the original proprietor from payment of call ; and that the profit or loss fall upon the proprietor to whom the share was originally allotted ; that the directors be upon the rietandor:ms, pro portionnoton £2OO shares ; and that the calls be pub eoro callson each a cli p share, lished in the Liverpool journals, &c. e ex m e p e o e w di e n r g ed in t t o he m w ak h e ole fu l tllo This was adopted, with an amendment proposed by Mr. Peel, that a notice should be sent through the Gene ral Post to each proprietor of any future call, as well as by advertisement. Mr. COOPER said each proprietor had two shares appro priated to him, which would make £2,400,000. The CHAIRMAN.—Yes. Mr. COOPER.—Then the directors have shares to tha amount of £160,000 to dispose of. Mr. LOWNDES.—Yes. A PROPRIETOR. —Many of them are disposed of already. 32.—That the directors may appoint and invest with their judicial and determining powers one or more of their number as a special committee to determine such matters as may be submitted to them, and yet do•not interfere with the permanent committee.—Carried. 3.3.—That the proceedings be entered in the books, &c. —Carried. 34.—That a director must hold in his own right two original or ten preference shares ; that a bankrupt who has not paid twenty shillings in the pound, and persons connected with banking within ten miles of the Exchange, be ineligible ; and that a disqualified director continuing to act shall forfeit his shares and pay £l,OOO as liquidated damages, to be carried to the surplus fund ; but such an occurrence not to render void the acts of the directors. After a discussion as to whether brokers ought to be directors, this clause was carried. 38.—That the present seven directors remain until next meeting, when two shall retire by ballot, and shall not be re-eligible for twelve months ; but if an annual meeting adjourn without appointing substitutes for those who should retire, the latter shall continue in office. Mr. JONES suggested that each candidate for the di rection should be named before the meeting, and the proprietors have a list sent them, but it was said that would form the subject of a bye-law, and the clause was. adopted. 47.—That the paid directors audit the accounts every month ; and shall at the annual meeting certify the justi fiableness of the dividend declared from the profits. Mr. JONES inquired whether the clause would go so far as to show the shareholders what the expenses of the Bank bad been—the salaries, in fact all the expenses under the different heads ? Mr. CHAFFERS said, that, during the last eleven years, the expenses of the bank were £36,000 ; the profits £1,175,000, of which £435,000 has been paid in dividends to the proprietors, and 142,000 yet remains in excess to the bank, which was not the common per centage upon a bag-man's earnings.—The clause was carried. 50.—That the show of hands decide a motion at a general meeting ; but that ten or more proprietors hold ing fifty original shares or two hundred and fifty £2OO preference shares may demand a vote ; the qualification to vote being, one vote for every original, one for every five preference shares, and no proprietor to have more than twenty votes, whatever number of shares he may at the time possess ; that no vote be allowed on shares not held three months previously, except as to preference and £2OO shares when first issued.—Carried. _ 55.—That no dividend be made upon original shares until the reserved surplus fund amount to £lOO,OOO, but seven per cent. per annum in the meantime to be paid on preference shares half-yearly ; that £5 per cent. per an num interest be paid on original shares upon balance of original capital ascertained during preceding half-year ; OW original proprietors 6114 have credit for 0500 on the Ist Decembc, 1846, being the value of bank-buildings ; that when the reserved surplus fund shall amount to £lOO,OOO, and previous to dividend, interest shall be computed at £2 per cent. upon amount which shall have carried interest at £5 per cent., and shall be peid on original shares, so as to put holders on footing of pre ference shareholders ; and that, when receipts of interest shall have been equalized, the balance of profits shall be equally divided.—Carried. 60.—That a proprietor may henceforth hold any number of shares.—Carried. 68.—That directors shall regulate the instruments of transfer of shares.—Carried. Mr. A. F. JONES expressed an opinion that the surplus fund of the hank should be invested in some good security, and not used as floating capital ; so that it might not again at any future period become totally absorbed. The CHAIRMAN then moved the following resolution : —" That the supplemental deed embodying the alterations this day passed, and removing any inconsistent clause in the original deed, be prepared for the signature of the proprietors ; and that the original deed, as so altered, be printed, and sent to each proprietor." This was seconded, and carried unanimously. The CHAIRMAN announced the resignation of the whole of the old directors, and then submitted a list of eight names to fill their places :—Messrs. Highfield, Booker, Tyrer, Shand, Stock, Bibby, Samuel Holme, and Imrie. The Chairman announced that Mr. William Clare and Mr. Gibb, formerly directors, declined being nominated again. Mr. HoLME said he felt himself incompetent to take his share in the directorship as he should wish. He had taken a deep interest in the affairs of the bank, but now he must decline being a director, as he feared he could not afford the time necessary to do justice to the appointment. The names were then put separately, and on that of Mr. Holme being mentioned, Mr. DOVER said, after the services Mr. Holme had ren dered the bank be ought to be a director. He had pre vented the bank from sinking, and he thought it was necessary to have a tradesman on the direction. Mr. KERSHAW seconded the motion, which was sup ported by Mr. Jones, and carried with loud cheers. Mr. HOLME said, after what had passed, he could no lon ger refrain from giving them his best services. (Cheers.) The other names were then put, and the Board was. formed cif Messrs. Josias Booker, John Highfield, James Tyrer, Francis Shand, John Stock, John Bibby, and S Holme. Mr. COOPER proposed a vote of thanks to the committee for their valuable services, the attention they had paid to the bank, and for the admirable manner in which they had carried them through the difficulty. The motion was seconded and carried unanimously. The CHAIRMAN acknowledged the compliment, and, after a vote of thanks to the Chairman, the meeting separated. The barque Laidmans, belonging to Messrs. H. Moore and Co., was last week discharged of a general cargo from Calcutta, and the whole deposited in the transit shed, in the short space of nine working hours. The men were under the able superintendence of Mr. Duncan Campbell. CHARGE AGAINST A POLICE-OFFlCER.—Yesterday, at the Police-court, a young man, named George Austen, preferred a charge against Police-officer Isaac Kendall, for having violently struck and maimed a poorold woman, who was selling apples near the Post-office, on Friday night. His evidence was supported by a carter, named Edmunds. The officer denied the truth of the statement, and evidence being heard for the defence, Mr. Rushton was not satisfied that the charge was made out, and dis missed the case. _ . _ LYING-IN HOSPITAL. — The annual meeting of this excellent institution will take place on Thursday next, in the lecture-room at the Medical Institution. The Mayor will preside. Some ten months ago, the Rev- Dr. M`Neile suggested that there should be a town's meeting, to bring forward the claims of this institution upon public sympathy,• and we trust that, now that there is an oppor tunity of making its necessities known, there will be no indifference shewn in urging the benevolent to come for ward. It is expected there will be many ladies present on the occasion, and several of the clergy have promised their aid in addressing the meeting. A very little exer tion would release the hospital from its pecuniary diffi culties. SOUTHERN HOSPITAL.—We perceive that on Sunday next, the annual sermon will be preached in St. Barnabas' Church, in aid of the funds of this most valuable institu tion by the Rev. Thos. Nolan, the kind and indefatigable honorary chaplain to the charity. The Mayor has signi fied his intention of being 'present, as have also several members of the. corporation. We are sorry to learn that at the last meeting of the friends of the hospital it was stated that there was a balance against the treasurer of £4OO. In addition to this a further sum of £2OOO is re quired for the extension of the building, to meet the in creasing wants of the south end of the town. We hope,- therefore, that the chaplain's benevolent and scriptural appeal will be responded to in a manner becoming this great town and the requirements of so useful and inter esting and useful a charity. A SERIOUS CHARGE.—A fine looking seaman (whose name we did not learn) was yesterday charged before Mr. Rushton, on depositions taken in British America, with being concerned in causing the death of a sailor named Creen. Mr. Rushton asked him if he was pre pared with his defence, otherwise he would give him time. It seemed the prisoner's wife, who appeared, had, at his request, written to Ireland for an important witness in his behalf, but •she had not money to transmit to defray his expenses over. The prisoner had stated that he had received no wages from his ship for three years. Finally, Mr. Rushton kindly undertook, as the case was an important one, to summon any witnesses that were deemed necessary for the defence. He also gave permis sion to the wife to see her husband in prison, and post poned the hearing of the case until Monday next. CROSBY SEA BANK COMPANY.—Yesterday a meeting of the proprietors of this company, was held at the Clarendon-rooms, to consider a notice received from Messrs. Avison and Pritt, solicitors, to Mr. W. R. Anderson, for payment of the sum of £3OOO, which that gentleman had advanced upon the mortgage of the pro perty. About twenty proprietors were present on the occasion. It appeared that twelve months ago, Mr. Anderson gave notice for the money to be paid, and in consequence of that noticenot having been complied with, his attorney had received instructions to foreclose or sell the land, if the matter was not satisfactorily arranged within a given time. The meeting lasted about an hour, during which, a considerable discussion amongst the shareholders present took place, but no definite-proposi tion was brought forward, and ultimately the meeting was adjourned to Wednesday, at the same place. NARROW ESCAPE OF A CHAPEL FROM DESTRUCTION BY FIRE.—On Sunday morning, a fire was discovered to have taken place within the Baptist chapel, at the top of Pembroke-place, and excited much anxiety in the neigh bourhood. The intelligence, which was dispatched with all possible speed, reached the Fire Station at about ten minutes before nine o'clock, and Mr. Hewitt, the super intendent, hastened to the spot with three engines and the water-carts. Part of the floors had ignited, and the fine building was in imminent danger, but by the exer tions of the firemen, the flames were completely subdued in less than an hour. The damage was comparatively small, considering the threatened danger; only portions of the floors at the east end of the chapel being burnt. Morning service was performed soon afterwards, the Rev. Mr. Birrell, the respected minister, officiating. The fire arose from the over-heating of the flues, the stoves having been lighted at an early hour to warm the interior of the chapel. UNPROVOKED ASSAULT BY A MAN UPON HIS WIFE. —A respectable-looking young woman yesterday appeared against her husband, William Aikin, a sailmaker, for a gross assault committed upon her. Mr. Dodd appeared for the complainant. It appeared that owing to the prisoner's maltreatment and drunkenness, the plaintiff had entirely left him and had gone into the service of a [ lady named Trotter, who gave her an excellent character. r On Sunday, while Mrs. Trotter and the family were at Church, prisoner; went to the house,. and knocked and rung at the door, which complainant opened, but seeing the prisoner closed it against him. He then rang so violently that he broke the bell-wire. Being alarmed she ran out by the back door for the police, where prisoner met her and struck her violently on:the face, bursting her nose. Mr. Rushton said the prisoner must not be allowed to destroy the complainant's prospects in life, as no family would employ her if such conduit' continued ; he must therefore pay- a fine of 20s. and costs for the assault, and further find sureties to keep the peace himself in £3O, and two others in. £2O, or be imprisoned two months. ILLICITDISTILLATION.—Yesterday, at the police-court, two men—Thomas M'Arthur and Michael Breen—were charged with working an illicit still. On Saturday after noon, owing to information received, John Henry Sproles, an excise officer, went to the cellar of a house No. 12, Queen-street. He had previously obtained from the landlord of the premises, Mr. Dunn, a description of one of the prisoners (M'Arthur), one of whom was the tenant. A police officer was with Sproles. M'Arthur made his escape through the house, on being seen; was pursued by the police officer, and in his flight threw away a bottle in Prussia-street, and another afterwards, before he was captured. The other prisoner was stopped with 2 gallons of whiskey, new from the still—a sample of which was produced. A still was found in the cellar, and some "low wines," the first produce of the operation in making whiskey. M'Arthur wished to make it appear that he was not the tenant, and, that the cellar was let to a man named Taylor. This, however, he failed to prove, and it appeared that he had taken it himself for the purpose, as he said, of melting tallow. He was also seenbv a witness to open the cellar, and the other man to roll in a . cask. The cellar had been let to Mr. M'Arthur only a fortnight ago, at 2s. 6d. a-week.—M`Arthur was fined £3O, or to be imprisoned three months.; and Breen £25, or to be imprisoned for the same time. MAKING BASE COIN.—An old man named Patrick Connor, was yesterday brought before the police magis trate, charged with making counterfeit coin. Police-offi cer Gisenthwaite stated that the prisoner occupied a cel lar, No., 110, Scotland-road. From information rece ived, that the prisoner was concerned with' a gang of coiners, the officer and another proceeded to the place on Satur day night. While descending the steps of the cellar, outside of which a few old articles of iron were placed for sale, they saw the prisoner busy with a mould in his hand, which he, on seeing them, endeavoured to break, but :he was taken hold of, and the mould—after being broken in the struggle, and from which a base half-crown dropped— was taken from him. The prisoner, after being hand cuffed, said, " I am done now, this will be seven years for me." He had resided in the cellar for six years. A pan was found on the fire containing some molten white metal, and some pieces that had not been quite dissolved, having apparently just been thrown in. In the cellar were also found nineteen base half-crowns, apparently from the same mould, and another mould for the making of shil lings. The depositions were ordered to be taken ; and (as is usual in such eases) the officers of the crown are written to, in order to ascertain what proceedings are to be taken against the prisoner, who in all probability will be com mitted for trial at the assizes, Nov. 30, 1847. LATEST INTELLIGENCE. (BY EXPRESS.) THE PURCHASE OF THE WATER COMPANIES PROCEEDINGS IN LONDON YESTERDAY. (Prom our own Correspondent,) The proceedings in this case commenced yesterday morning, (Monday) shortly after 11 o'clock, before Robert Stephenson, Esq., the Arbitrator. Mr. Sergeant Wrang ham opened the case on the part of the Liverpool and Harrington Water Company, in an eloquent and argumen tative speech, which occupied nearly three hours in delivery ; he traced the progress of the Company from its commencement up to the present time, and showed the progressive increase of the company's resources, and the great prospective income reasonably to be anticipated in the event of the company continuing to carry on the works. ge concluded by calling on the arbitrator to •award such compensation as the nature of the' case demanded ; and, as in the case of the Manchester and other Water Works purchased by corporations, a sum equivalent to at least 25 years' purchase of the present net annual rental of the company, be awarded, and an additional sum in consideration of the prospective increase of the rental ; irrespective of this amount, which was left for the decision of the arbitrator, the sum de manded for the works was £570,000. Mr. Harmood Banner was called by Mr. Wrangham to prove the accuracy of the various documents, and his evi dence was objected to by Mr. Crompton on the part of the Corporation in consequence of his being said to be an interested party. The objection was overruled by the arbitrator ; his evidence went to show that the documents furnished by the company were strictly correct, and that the company had always been enabled to meet the demand upon them for water, and that they were even now in a condition to give a greatly increased supply, if nedessary. Several letters were read to• and from the local committee and the council—one from the agent of the Harrington Company, urging upon the coun cil the propriety of making an immediate purchase, which the council then declined to do. At the close of his exa mination, Mr. Crompton objected to cross-examine until such time as the Corporation accountant had examined the books and accounts of the company. An arrange ment was made with both parties for doing so forthwith and the court adjourned at a quarter before four o'clock, until half-past ten o'clock to-day (ruesday). LONDON CORN MARKET.-YESTERDAY. The market to-day was but moderately supplied with Enir lish Wheat, which met a brisk sale at fully the currency of this day week. Foreign supported late rates, although the demand was not so extensive. The like remark applies to barrel Flour. Floating cargoes of Indian Corn in improved request, but being generally held for Is. to 2s. advance, business was checked. The finest samples of malting Barley are scarce, and not hwer, but secondary sorts dull, at a further decline of Is. per quarter. Malt cheaper. Egyptian beans steady, but Beans and Peas generally Is. to 2s. lower. The sale for new Oats continues most difficult. SMITHFIELD CATTLE MARKET.--YESTERDAY. Prime Scots, Herefords, &c., moved off steadily, all other beasts slowly, at Friday's decline in the quotations of 2d. per 81b. The primest animals sold at 4s. 6d. to 45. Bd. per Sib. At the close of the market, a total clearance had not been effected. On the whole, the mutton trade was steady, but by no means brisk, at fully the currencies obtained on Monday last. The veal trade was in a very inactive state, and in some in stances the prices had a downward tendency. Prime small porkers, which were scarce, moved off steadily. at full prices. MONEY MARKET—YEsTuunAv. Consols have been done for money from 84 to 853, and for the January account from 853 to 3, and are now 853. THE POPE'S. HUMILITY (?).-The French papers give long reports of an address delivered by Pope Pius the 9th to twenty-four deputies who waited on " His Holiness." The speech is said to have been uttered with his " natural mildness," and the account winds up by saying that "the Holy Father afterwards admitted the deputies singly to kiss his feet !" In the common pleas on Friday, Mr. Thompson, civil engineer, recovered a verdict for £1305 against Sir Henry Webb, for services performed in surveying a proposed railroad from York to Lancaster. Sir Henry was chair man of the board of directors. Mr. Muller, the chief en gineer of the line. gained a verdict for £1,262 against the worthy baronet, as remuneration for his services on the same line. THE ELECTRIC TELEGRAPH.—During two hours on Tuesday, the Queen's speech was transmitted over 1,300 miles, to 60 central towns or stations, in England and Scotland, where one or more manipulators were occupied in dechipering the transmitted symbols. The speech was printed and generally distributed, and the local papers published special editions. It was telegraphed at the rate of 55 letters in a minute, or 430 words in an hour ; several of the long words, such as embarrassments," " infringe ments," taking longer time, no abbreviations being used. PROFANITY.—In the window of the Roman Catholic Charity Schools, situate in High-street, Marylebone, is posted a prospectus of " The Spanish-place Catholic Literary and Scientific Institution,' in which, after speci fying the particular subject of various lectures to be given in that institution, the incredible assertion is put forward that the whole course is "under the patronage of the Blessed Virgin." Without ocular demonstration, it would he difficult to credit that such dreadful profanity could be put forward in the 19th century by persons who are ap pointed to instruct and conduct the youthful mind into the paths of truth.—Herakt. ATTACK ON A BOAT, AND PLUNDER OF OATS.--0/1 Wednesday evening, a boat laden with oats, left the quay of this town for Waterford. The boat and oats were the property of Michael Keeffe, an industrious man ; when the boat arrived between Burnchurch and Ballydine, three men appeared on the bank, ordered Keeffe to pull thebost in near the bank; poor Keeffe remonstrated with the , ruffians in vain, as one of them swore he would blow the contents of a pistol through his head. The poor man was thus compelled to pull towards the bank, and was then ordered to throw a rope out, this request was com plied with, and three of the party fastened the rope inside the ditch, and then ordered the crew of the boat into the locker. They then plundered the boat of 13 bags of oats, which they carried away. The oats were afterwards discovered in a haggard belonging to a comfortable farmer who, with the four men, has been taken into custody.-- Tipperary Constitution. AN INDISCREET QUESTION.—In the debate on the Address, in the House of Commons on Tuesday evening, Mr. E. B. Roche is reported to have asked the following very indiscreet question It had been said that the Celtic race was prone to crime and disorder ; but if that were true, how happened it that when Irishmen. settled in England or America, or any other country, they were never guilty of assassination? No -one ever heard of a railway director being shot by an Irish labourer. What was the reason that in every country in the world, except Ireland, Irishmen were industrious and well conducted ?' We can answer both parts of the question very readily ; but first we will give Mr. Roche's own solution. That gentleman says that Irishmen are not assassins in En gland and America, and are industrious and well con ducted in every country in the world except Ireland, " because in every country but Ireland they are treated with firmness and justice.' There may no doubt be some truth in this reasoning. Our own solution, however, has the advantage of being more lucid and more in detail. We contend that Irishmen are not assassins in other countries because their crimes would not be tolerated there as in Ireland. An Irishman who might choose to try the experiment of murdering a man in open day, on a public road, or in a street, with a hundred people looking on, would not be permitted to walk off unmolested . Again, if arrested and brought to trial, he would not have the advantage of witnesses ready to perjure themselves, and the jury afraid to find him guilty. "No one ever heard of a railway director ever being shot by an Irish labourer," probably because no one ever heard of a rail way director in any civilized country, being denounced from the altar as a person " unfit to live ; or of lists being publicly handed about of parties doomed to fall on the first possible occasion by the bullet of the assassin. We should say too that the anomalous circumstance of Irishmen being industrious and well conducted in every other part of the world except Ireland may in a great measure be accounted for by the fact of their having re moved themselves from the incendiary language, the exactions. priestly and lay, the bad example, the filthy habits and the lawlessness with which they are surrounded on every side in their own country. TELEGRAPH OFFICE, NOVEMBER 29. Wind at Holyhead, N.W., strong breeze, at 7 30 a.m. and noon> Ditto; N.W., fresh breeze, at 3 p.m. OFF HOLYHEAD, at 9 a.m., No. 6239, John M`Lellan ' ship . 2684, Devonsnire, ship ; 1450, Caledonia, (steamer,) at 12 30 p.m. ; 971, Black Prince, brig, at 12 30 p.m. Have not tele graphed where from. OFF THE PORT, at 330 p.m., 1, barque, 1 brig, and 4 schooners DAIS. Nov. Tuesday. ... 30 Wednesday. 1 Thursday . . 2 Friday .. .. 3 Saturday 4 Sunday .. . . 5 Monday.. • 6 TIDE TABLE. MORN. lEVENG.I HURT. I HOLTDA.TS, RTC. h. m. h. tn. 4 39 5 11 5 46 6 22 659 733 8 4 8 30 8 55 9 17 9 39 9 58 10 18 10 35 ft. in. 12 3 11 6 11 8 12 4 13 3 14 3 2d Sunday aft. Advent 15 2 METEOROLOGICAL REGISTER, BY MR. C. H. CHADBURN, 71, LORD-STREET. ATMOSPHERIC Daily Direc- Temperature in tion shade by self-re- Humidity at Fall of Pressure at giste r i ng No"' Wind of Thermometer. I Dry Wet Rain. Noon• a.m. p.m. Max. Min. ' bulb. bulb. Nov. In. In. Deg. Deg. ' Deg. Deg. In. 23 29'53 29'70 49 43 48 46 vi 24 .83 '9O 52 57 48 s. s.«' . 25 .83 '73 55 43 55 53 o'3B s -26 '7B •43 48 38 48 45 s -27 *32 •30 45 38 142 41 0.01 E.N.5' 28 •10 45 38 44 43 0.14 W. 29 .30 . 5 7 46 — 46 44 w.NW THE WEATHER.-23rd : bright; 24th: cloudy, slight fresh breeze; 25th: day, slight rain; night, heavy rain; fine; 27th : slight fog ,• night, slight rain; 28th : foggy, rain : night, raw, and hail, strong breeze; 29th : clear. it rain, ; 26th : slight LIVERPOOL : TUESDAY, NOV. 30, 1847. EVERY PRINTED TUESDAY A I L 1 s ia E ORNIN q, y JOSHUA FLETCHER LACE of 53 Grove street, and LEONARD ADDISON, of 14, Great Orford-street, At No. 4, ST. GEOROE'S CRESCENT, LIVERPOOL. Terms of Subscription for this paper :—On credits one year, Ile. ; if paid in advance, 16e. --__,. ,_____ THE I (F Unch THIS p PART FIR Adolphe Fra dresse en I] Cask Dance, wards, by M Mad'lle. Am Game of Cir 'Gymnastic I PART SEC 'Grand Volti Scene, by 11 Palmyre Ana 'finish the Ac through Sevi Mad'lle Carc Loisset and by M. Aurio Yoxnger Bri Manoeuvre,( Prices of / to the Dress Stalls, 2s. 6 Second Price Second Price CONCE] Two THIS DAY, Admission- Doors open a THE Put 11 will be g ber instant, i INSTITUTI( lamented Dr ORATORIO, the Liverpool Tickets to 1 ciety, Exchan Body of th Gallery, 2s. 6 T _ BENEFI' OW TUE LADY GERA 11r. LYON, THE EX ARTIST *ld Postoffice Admission : 'under twelve tlemen's, Five Tickets, Two Two and Sixp, and by Gas-14 turday. 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