The Northern Daily Times. — Liverpool, Merseyside, England, 1853-11-22 00:00:00

Some five and twenty years ago, the management of Bolski's Quarterly Magazine, a provincial pe riodical published at - Cork, all but entirely fell into our hands, when, with the aid of some friends, it was sustained for some time, more as a labour of love than for any profit derivable from the concern. The proprietor had been a respectable printer and bookseller, and was eminently successful in all his undertakings, save and except this one of the xnaganinc. Thorc is tcaaou to doubt of hi:t ulti mate success in this speculation also, had not a parsimonious and miserable spirit taken entire pos session of his soul, and induced him to believe that he would be enabled to carry it on with gratuitous contributions. But he was completely mistaken. Even when voluntary aid was afforded him the publication was often delayed from week to week after the regular period for its appearance, sooner than incur the necessary expense and outlay in the printing-office. Yet all this poor and mistaken economy took place while the long list of his sub scribers actually displayed almost the entire of the protestant clergymen and gentry of the extensive county of Cork, properly called then, as now, the Yorkshire of Ireland. Such, however, was the penurious fatuity of the man. The magazine continued to languish for some time, but finally died out of complete exhaustion. The con tributors, the subscribers, and the public alike got tired of. it. But during the slow and wearisome struggle to sustain it by the occa sioned gift of an able and first-rate article from some of the talented penmen of which the capital of South Munster can boast, the editorial con ductors were surprised by a constant flow of manuscript of a legendary and poetical character from a youthful contributor in the western part of the county. It soon led to the introduction of the writer to some of the literary circles of Cork, and finally to a friendship between the parties, which neither time nor absence nor distance has dimi nished or broken He was then, perhaps, abou eighteen years of age, or more, but very youthful, buoyant with fresh feeling, and enthusiastic to a degree, which nothing but the bardic afflatus could excuse or tolerate. His parents were sup posed to have been in comfortable circumstances, at all events they were enabled to bestow upon him a good classical education, and the seeds of Greek and Roman literature never seem to have fallen into a more genial or fertile soil. He had read a great deal, that was quite evident, but like most Irish scholars without system or method ; and whatever he could lay his hands upon, he pored over until he mastered it. Some rare and curious tomes now and again fell in his way, of which he readily availed himself, and dived into the_ lore of by-gone ages, so that - although his scholastic discipline had been somewhat irregular, it was by no means immature. Snatches of song, sweet and silvery, such as Leigh Hunt might have written, had he been a Dombey, and reared up under the broad shadows of Hungry-hill, or accustomed to ramble by the bleak margin of Cape Clear, came into us day after day by various modes of conveyance ; for the penny post was not then amongst the daily enjoyments of life. Stories and tales without number and without end reached us from the prolific pen of the' youthful wanderer by the western .sea, of all which the name alone of one still cleaves to our recollection. It was It went. to unfold the destiny of some brave Celtic chieftain of the name and race, who had been possessed of some hereditary insular dominion in Cape Clear and the headlands. We can well remember how welcome it was at the time, while so far as the young author. was con cerned, it gave promise of better things besides, indicating the bent of his genius, and the fertility of his fancy. It showed something more, and which, perhaps, eventually proved more useful than all his wonderful application and untiring industry. This practical spirit it was which stood by him in Spain, and which now sustains his respectable and independent in France. However, as soon as our mutual communications and our friendship ripened, the poetical tendencies of the young Bantry boy predominated and soon dis played itself. A volume of poetical and lyrical effusions, the principal poem of which was called Zedechias soon appeared, published, strange to say, in the chilly and chilling atmosphere of a southern province. The name was scriptural, we really cannot recall why or wherefore, but the stream of poetry was bright and gentle, and abundant like the native —. Little or nothiug, in a com mercial point of view, accrued from the publication, notwithstanding the efforts of several friends, but nothing of the kind seems fated to be productive in the beautiful city after all its literary celebrity. Whilst he continued in the West, about this period, a young 'lady, niece of the well-known --, became smitten by the personal and mental attractions of the young . bard; the only result of the affair appeared to be a long and interesting correspondence, which was certainly a felicitous - opening of the - dorrnant power—the Letters of Abelard and Eloise would have fallen fifty per cent. in valuation, had they the good luck of meeting with publicity. However, in a moment of, punctilious inspiration and honor, a friend consigned them, per,haps the better for all parties, to the flames. We niust,in all truth and sincerity, eclare that as far as the bard was concerned, the whole thing seemed to pass away with the scenes and the locality which occasioned it An • offer was now made him by one of the Killarney branches of the undertake the tuition of his boys, which the classical poet was delighted to acceept. He was fond of learning, even for its own sake, and here he would have every fair opportunity of acquiring it. The family mansion on the borders of the lower lake was enriched by a splendid library, which-soon became the daily haunt and study of the bard. This was neither more nor less than the turning point of 'his y6uthful career in life, for here it was he become, after the lapse of a brief period, acquainted with a relative of the house, and then employed by the Spanish government to raise an Irish auxiliary legion. Young and enthusiastic Celtic volunteers crowded round the colonel, . longing for an opportnnity of seeking fame in the Peninsula. The young tutor had caught the att rac ti on; and n ow the whim of the commanding officer who solicited his adhesion and offered inducements. There was little occa sion; the tutor insta n tly th rew down the pen, accepted, the sword, and became a soldier. He was immediately nominated to the rank of adjutant and paymaster. We cannot say whether the scenery of Lakeview, and the, lakes, called forth any ardent ebullitions of the minstrels ,fa,ney, for henceforward he appeared to have :abandoned the muse, as an object or myth, unworthy of a brave man's, or any mares . , Solicitudh. ;',. His countenance and phy iiognOmy—whateket his character may be, and it was truly excellerit-4-- - were peculiarly Spanish in their aspect 'and outline. A swarthy complexion, black glossy ringlets, and black curling whiskers on a small but well-set head, which belonged to a physical der'elopment of limb and person, slight but wiry,.vigorous and elastic, seemed to recom mend him toAh.e colonels military eye, for the dar ing leader of a handful of hardy and intrepid moun. taineers. He was accordingly chosen for the auxiliary troops, and the c o l one l' s ant i c i pat i ons were realized to their fullest extent. The young adjutant soon made his appearance in the city of his recent adoption in the elegant and becoming uniform of the legion. To look at him, at this moment, one would suppose that he was never at home before in his voca ti on — ne ith er as th e novelist writing tales for the reluctant paymaster and proprietor of a magaz i ne , nor as th e pro vincial bard, struggling a little for subsistance, and entirely for fame, so well did he appear ! Then his teeth were white and regular, and his smile so inexpressibly sweet—'twas a sort of quiet fascination. There seemed little hurry on his part to get away from the banks of the Lee, although the Douro or the Guadalquiver were supposed to be at the time margined with warfare and bristling with bayonets. His natural anxiety to see some service, for he was high-spirited and ardent, was, however, tempered by a not unpardonable vanity to exhibit himself in the southern metropolis. The Lyceum—the arena of his literary discussions -1 which he had enriched with his fervid eloquence, and enlivened by the copiousness and strength of his argumentative powers as a debater, was sure to be visited in his close-fitting costume of dark and 1 braided green ; while several Sundays witnessed him attending divine service in the well-known chapel of St. Finbar, situated in the southern out skirts of the city. But his exhibition days were soon over, and the hard labour, peril, and fatigue of the Carlist warfare succeeded, in which our young Irish paymaster acquired for himself a cha racter for steadiness, efficiency, and spirit, which alike recommended him to his- superiors and en deared him to his men. The Carlist affair, not withstanding all the blood and treasure that were wasted during its continuance, was not fated to last for any lengthened period, and once over, he returned again into private life. But provi dence had some further gifts in store for him, for an arrow from the bow of Cupid had expedited the formation, in some measure, of his destiny. He was not doomed to relinquish the Lusitanian soil as soon as he apprehended, since one of the beauti ful and dark-eyed daughters of the land had become enamoured of the matured manliness and frank sincerity of the gallant, educated, and poetical young Irishman. Beautiful we can well believe her to have been ; for she is beautiful still, and amiable we have heard her to be from one who had the pleasure of enjoying her society, and she brought with those natural gifts an acquisition that could have been by no means unacceptable, however disinterested, to the young soldier. Her fortune was said to be a handsome one ; but as the particu lar amount has' never been stated, we need not dwell upon it. " When it rains it pours," is often recalled as a proverbial saying whenever there seems to be a continued run of good luck, as at this period happened to the subject of our hasty memoir, for he was engaged probably on account of his minute acquaintance with Spanish affairs as one of the foreign correspondents of the great London periodical the Times. The capabilities of their'correspondent was not lost upon the " Thun derer," as they goon. determined to leave him no longer in the comparatively background of Madrid, but permanently instal him in a situation of greater prominence and higher responsibility. He was, therefore, ordered off to the French capital. Paris soon became a home to the Irish exile, where his talent and industry and diplomatic surveillance have created for his correspondence and opinions on the fluctuating occurrences of the day, a weight in the political world which can scarcely in these times of imperial and international intrigue be overlooked or forgotten. The public—and the caterers to its insatiable curiosity, the daily press, look not so much to what Prince Gortschakoff has proclaimed, or what Omar Pasha has done, as to what the Paris correspondent of the Times has written. His sentences have become of more ap , palling significance to the modern world than the handwriting on the wall in times of yore ; and the Barings and Rothschilds of Europe are more ac customed to rely upon their depth and solidity in the disposal of bullion, than on the manifestoes done at Izarskoe Selo, or the protocols of the Sublime Porte. His remuneration—twelve hun dred a year—is well earned, and bespeaks the good sense, as well as the liberality, of the princely pro prietor. Long may he reign beside his portfolio, and enjoy the -luxury of his Parisian boudoir is the prayer of a brother anchorite, of the olden time, upon the banks of the Lancashire Pactolus MR. SHRIVALL AND MR. DAVID MCLELLAN. TO THE EDITOR OF THE NORTHERN DAILY TIMES SIR,—My name has, very unfortunately, been of late prominently and painfully, brought before the public, especially by means of the intemperate letters of Mr. David M'Clellan. With that individual I had had no quarrel. I did not even know him; his name was never -alluded to by me, yet I find I am the object of his unceasing abuse and scurrility, and he appears determined, as far as he is able, to injure my. reputation. The original charge I totally and indignantly deny. As to the charge of conspiracy and subordination of witnesses made against me by Mr. M'Clellan, I have instructed my solicitors to seek reparation by an action at law. Until that is decided, I must re quest my numerous friends and the public to sus pend their judgment.—l am, Sir, yours obediently, FREDERIC SHRIVALL. Liverpool, Nov. 21, 1853. CRAYON SKETCHES. BY THE COUNT DE GABALIS. Drawn expressly for "The Northern Daily Tinies.'i NO. II THE PARIS CORRESPONDENT OF THE TIMES Civis, gum tibi creditum Debes Virgilium, finibus Atticis Reddas mcolumem, precor, Et serves animas dimidium mem TURN your eyes to the west,—that magnificent sheet of water, as broad as if illimitable; now calm as if a lake, between those long, ridgy strips of land—call them promontories or peninsulas, or what you please—with the low-lying isles upon its bosom—that's Bantry Bay. It may derive some degree of interest with many to bear in mind that here it was, half a century since, the French fleet was scattered by the elements as a preliminary to the ruin of '9B ; but this appeal to the memory should be either political or partial, and at present we want neither; while the painter, the poet, or the tourist, can contemplate the majesty of nature in its wide and beautiful expanse, and feel that so long as the boundless Atlantic rolls its billows, and that Alpine chain elevates its crests—so long as the wild and grand and picturesque are attractive to the heart and eye—Bantry Bay will not want for a host of admirers. It has, however, another charm and a sweeter spell to awaken our attention. In that dark and dingy-looking town —now, at all events, cheerless, whilst in deep shadow—was born the subject of our present sketch, the Paris Corres pondent of the Times! THE GREAT ONSLOTV MINES. We lay before our readers the following impor- taut extracts from the Carlisle Patriot, as an intro- duction to a few observations which we shall take - - an early opportunity to make respecting certain movements now going on in Liverpool : • • THE GREAT ONSLOW CONSOLIDATED - • . MINES. (From the Carlisle Patriot, Oct. 15.) " Bubble, bubble, toil and trouble, " Fire burn, and Cauldron bubble. We remember that some twelve months ago it was whispered through Carlisle that a fortunate few in it had been initiated into so good a thing in the deep mining way that they were to be enriched out of hand. Pretty tolerable things, it was said, had been done in California ; and the Australian digoins, barring the voyage of eighteen thou sand miles, held out promises not altogether dark but that the real El Dorado lay much nearer home ; to wit, in cer tain copper mines, "situated in the Parish of Breward, near Camelford, in the County of Cornwall, extending over several hundred acres of land, held under a lease from Sir Ily. Onslow, Bart., for 21 years, from the 7th Feb. 1851, at 1-18th dues or royalty for the first five years, and 1-15th for the remainder of the term, the small sum of £8 being the only additional claim for rent or occupancy, which, however, is deducted from the dues, having nothing but the dues or royalty to pay." The authorised statement went on to say that the mines were worked at an expense of several thousand pounds, in 1846, but were then stopped on account of the panic. That, " On the 17th of Janutiry, in the present year (1852), the mines were reconstituted into 50,000 shares at 305.; the , lessees unde r t a ki ng t o se ll 10,000 additional shares at ' not less than 30s. a share, or so many thereof as might be necessary in order to raise £15,000, which sum, in -addi tion to the £3OOO already received, is to be appropriated to the further development of the mine, and all costs what soever are to be paid therefrom until such sum of £lB,OOO is wended ; the full amount of all sales from the mines during the same period it is agreed shall go as dividends. The mines are worked upon the cost book system, without any liability beyond the first payment. " The Engine Shaft is sunk 45 fathoms, and Bennett's Shaft 50 fathoms from the surface, and is sinking to the 55. Levels have been driven about 100 fathoms at the 22, 35 and 45 fathoms, east and west. In the former level Gozzan, the most certain and unmistakable indication of great deposits of copper ore, has been extracted in large quantities; in the 35 fathom level there is an immense body of Mundic over-riding great deposits of yellow copper ore, and the indication of the 45 fathom levels are of a still more satisfactory and conclusive nature as to the value of the mine." After more in the same style, and assertions as to the richness of copper ore produced, comes this para graph : " On the 26th of May last a dividend of 2s. per share was declared, arising from the sale of mumlic and copper It will be seen by what follows that this statement is false. The authors of it, however, had no qualms of con science ; they went on to make assertion of great prospective profits to shareholders, and professed to quote the Daily News to the eff ec t that the 35 fathom shaft looked well for copper, and that from it " some splendid specimens of silver lead.were raised a few days a o." "An assay of the silver lead alluded to in the report (they say) has been made by " 10, Coleman-street, London, 13th Sept., 1853, " THE GREAT ONSLOW CONSOLS COPPER MINE. " Gentlemen,—ln pursuance of your instructions that I should investigate the accounts of this comp an y, an d prepare a balance-sheet to the 30th June last, I proceeded to Wade bridge, where certain books and vouchers of the company were:submitted to me by Mr. Webster, the secretary. Having carried the examination of the accounts as far as I deemed essential under my instructions, and in the absence of the register of shares, transfer book, dividend li s t, an d rece i p t s for dividends, I beg to report, that it appears from the cost book that this company was originally constituted as the Great Mitchell Consolidated Copper Mines, in 5,000 shares, of which it was agreed to sell 1,000 shares, at £3 per share, it was determined on the 6th March, 1851, to call the sett the Great Onslow Consolidated Mines ; and on the 17th Ja nuary, 1852, it was agreed to increase the number of shares to 50,000, of which 10,000 (or so many as would produce £15,000) were agreed to be offered to the public at not less than £1 lOs per share, thus increasing the capital to £lB,OOO 0 0 " The payments appear by the cost book to have been as under : From the formation of the company £ s. d. to the 31st December, 1851 ... 3334 14 7 From 31st December 1851 to 30th March 1852 1501 15 11 From 30th March 1852 to 30th March 1853 .. .. 8829 11 2 From the 30th March 1853 to 30th THE NORTHERN DAILY TIMES. Messrs. Longmaid and Son, who give for lead 80 per cent. and for silver, 14 oz. 5 dwts. 20 grains to the ton. The precipitate of copper (they add) has also been assayed by the said firm, produce pure copper, 77,5 per cent. ; specimens from the mine may be seen at the offices of Bennett, Carr, and Co., 2, Moorgate-street, London, and Harrison and Brereton, 6, Water-street, Liverpool, where further informa tion may be obtained." The whole is wound up by a report, August 23, 1852. purporting to come from Capt. Thomas Richards, brother to Captain Richards, manager of the Great Devon Con sols Mines, addressed to Messrs. Bennett, Carr, and Co., 2, Moorgate-street, London, setting forth the probable hidden wonders to be found in levels 35, 45, &c. &c. " In conclusion allow me to say that at the present depth I am much pleased with the appearances of the mine gene rally, and although so shallow, you may exprct good paying bunches, but when you get below the Camel river, or adit level, you will, in my opinion, have a very extraordinary, rich, and lasting mine." Well, deluded by the dividend, and these glowing promises, the Camel was swallowed by a long train of unfortunates, with what result the following document tells : " 62, Shoreditch, London, Ist October, 1853. " TO THE PROPRIETORS OF THE GREAT ONSLOW UONSOLI- DATED MINES " In accordance with the resolution agreed to at a general meeting of the shareholders in the above adventure, held at the Angel Hotel, Dale-street, Liverpool, on the 25th of August, 1853, appointing the undersigned to be a committee, and duly authorising them to investigate and report upon the affairs of the above mine, and to examine the accounts thereof, your committee, having to the best of their ability endeavoured to discharge the said duties, beg to submit to the shareholders their report, as follows : "It being necessary to obtain a competent professional opinion respecting the present state and future prospects of the mine, your committee engaged the services of Captain Nicholas Vivian, of the Condurrow Copper and Tin Mine, Camborne, who was most favorably recommended to them as a gentleman of great experience, and thoroughly compe tent to form a correct judgment in mining operations, who, in company with your committee, visited and inspected the mine on the 7th September." " Captain Nicholas Vivian's report is as follows : To THE COMMITTEE GREAT ONSLOW CONSOLS COPPER " Gentlemen,—The following is my report of the Great Onslow Consols, which I have inspected at your request, and as the time allowed me is very short, it will necessarily be brief. The lode bears nearly east and west, traversing a granite stratum underlaying northerly; 11 feet fathom is wrought at the depth of 60 fathoms from surface ; in the upper level it is composed of gozen, which at the 30 I exa mined for a considerable length, and think there cannot be but one opinion as to its being a most promising gozen, and it is very large. Below this, at the 45 and 60, the lode is very wide, say 10 to 12 feet. It is very promising of spar, mixed with strong mundic and good yellow copper ore. At present, however, the former preponderates ; but at the several points of driving at the 60—that is to say, east and west of the engine shaft, and east and west of Bennett's shaft, there seems to be more copper ore and more mundic. This level may be communicated in course of 6to 8 months. The lode is exceedingly hard, averaging upwards of 201. per fathom for driving, and which is the only objection I have to offer to the concern ; and there is a hope, from the appearances in the 45 west, that more favorable ground be found in that direction in extending the 60. I would suggest for rur consideration whether you should not drive a deep edit, which at the engine shaft would be 10 fathoms under the present 60 fathoms' level. There seems as good a chance of success in driving an adit on course of the lode, especially in taking the high ground as at the mine, which would be eventually unwatered. "As it regards dividends, I think you must persevere in hope for at least two years before you arrive on this desirable situation.—Yours, faithfully, (Signed) y " NICHOLAS VIVIAN." "With reference to the examination of the accounts of the Great Onslow Consolidated Copper Mine, which appeared to them to require the services of a professional gentleman, G. C. Begbie, Esq., 10, Coleman-steet, London, who, with your secretary, was occupied for several days in such ex amination, and has presented the following report, which your committee submit to the shareholders ; 1717 1 6 June 1853 -15,383 3 2 Leaving a balance in favour of the company on the 30th June last of £2616 16 10 The receipts from the sale of =lndic appear to have been as follows : From the formation of the company to 31st December 1851 . . . 106 6 3 From the 31st December 1851 to 30th June 1852 . . . . 1421 10 1 1527 16 4 From 30th June 1852 to 31st De cember 1852 .. 780 0 4 From 31st December 1852 to 30th June 1853 649 15 0 Making the total receipts to 30th June 1853 from the sale of mundic . . £2957 11 8 In June 1852 a dividend of 2s per share was de clared upon 50,000 shares, amounting to . . While at that time the gross receipts from the sale of mundic amounted only to .. 5000 0 0 Showing that a sum of . . • . . . . was then declared as dividend to the excess of the amount applicable to that purpose. The receipts for mundic in the year ending 30th June 1853 amount to 1429 16 4 And I understand, that Mr. A Ben nett and Mr. Henry Carr re linquish their dividends to the extent of 1527 16 1812 1 3 3472 3 8 3241 16 i Leaving a sum of . . •.. . • . . . . 230 7 1 still to be realised subsequent to the 30th June, 1853, to make up a dividend declared in June 1852, as shown in the accompanying dividend account. "No reason has been given to me why this particular sum of £lBl2 is. 3d. has thus been relinquished by Messrs. Bennett and Carr; but you will no doubt satisfy yourselves whether the same circumstances which induced the sacrifice of this sum should not require the relinquishment of a larger amount. " The amount now dealt with as the receipts from mundic is the gross sum for which the mundic sold, the whole of the expenses, even down to the broker's commission, being charged among the disbursements in the cost book. "I do not find that any stock account has been kept. " The annexed balance sheet will show as much in detail as the time which I have devoted to this business has allowed of the appropriation of the funds of the company, although I have asked for it, I have been unable to obtain any de tailed statement of the preliminary expenses, charged at £220, or of the office expenses, postages, stationery, and general management, charged at £350 per annum. " In the year 1851, there is a charge of £l5O made by Mr. Bennett, the purser, for a water wheel, which, I understand, belonged to the mine at the time of the first constitution of the company; and if thii be so, Ido not see how the charge pan be allowed to stand. " I consider the disbursements, upon the whole, to have been fairly vouched, except as to the payment of the divi dend, the receipts for which, as well as the register of shares and transfer book, Mr. Bennett, in the first instance, refused to produce,.but which he afterwards (when I had made my 'arrangements for leaving Wadebridge) promised should be forthcoming; as you remained at Wadebridge after my de •parture, you would have the opportunity of seeing these 'documents and mentioning them in your report. The only account of the shareholders which I have seen is a list of their names, addresses, and number of shares held by each entered in the cost book, under date of the 18th August, 1853. " The only cash account said to be kept is a small cash book containing entries of the monies received from the sale of mundic, but of the larger amounts received for shares no cash account whatever has been produced to me, nor is there as I am informed, any separate banking account kept for the - company, consequently I had no means of seeing either what balances were from time to time in hand, or where the funds of the company were deposited. " The monthly payments shown by the cost book (of which the accompanying balance sheet contains the analysis) are not, as far as, dates are concerned, to be depended upon, inasmuch as all wages, merchants' bills, &c., for each month are charged in that particular month, although, with the exception of the advances to the men and some other items, the money is not actually . paid for upwards of two months afterwards, and in some instances, the' payments are made by means of Mr. Bennett's and Messrs. Bennett and Carr's acceptances. "Among the merchants' bills there is one from Mr. A. Bennett for £2B for timber, sold by him to the company, and several from Messrs. Bennett and Carr for supplies; but I am assured by Mr. Webster that such supplies have no profit charged upon them ; looking to the position Mr. Bennett holdsinthe company, I respectfully submit that such dealings would be better avoided for the future. " There are one or two bills for stationery among the dis bursements, but not of sufficient amount to induce me to raise any question upon them; beyond simply stating that I do not consider similar bills ought to be allowed in future, as this item is professed to be included in the charge of £350 per annum for office expenses, stationery, postages, and general management. " Iwould suggest that in future a banking account should be opened for this company, to which should paid all money received without exception; and further that a regular cash book should be kept, from which the cost book should be made up[monthly.—l remain, gentlemen, your most obedient " G. C. BEGBIE. servant, • • " To' John Harrison, Esq., and John Hopkins, Esq." The accounts annexed to to this prostrating report are too voluminous for our columns at present. The reader has seen that the capital has been wholly frittered away. Not withstanding the assertions as to copper ore, not one penny credit is given for the sale of that metal, nor for the "silver lead." The gentlemen, whose names are attached, " John Harrison" and " John Hopkins," thus conclude :—" Your committee deem it necessary to state, that the books to which reference is made in the foregoing report being considered by the accountant indispensable for a complete investigation, an application was made in le&al form to Absalom Bennett, Esq., the purser of their mine, to produce the said books, and he in answer promised to do so, but which promise he ultimately neglected to fulfil. Your committee, influenced by a desire to render to each shareholder a faithful statement of all circumstances connected with this investigation, beg to refer each shareholder to the Reports of Mr. Begbie and Capt. Vivian ; and when a general meeting of proprietors takes, place, your committee will have the pleasure of tender ing any further information in their power in and for the fu ture welfare of the proprietors generally." The meeting adverted to is to come off at Liverpool this day (Friday.) There will be a pretty . scene ! In Carlisle there are numerous victims; no less, we are told, than a score or more. They were assured that a good thing awaited them, and some of them bit to the tune of £1,200 ; some £9OO ; some £BOO, £6OO, £4OO £3OO, &c. They rushed upon the hook like a shoal of perch when sand is thrown into the water. They were told that shares were a matter of favour. Nay, some were pulled in under the guise of philanthropy ; they had shares ass boned almost as charity, and, till lat e ly, li ve d in the hope that their fortunes were made. Why do we enter into these details ? Not, certainly, to exult oven those who are suffering lacerations in the trap, but to add one more to the many warnings to be found in the history of railway and mining speculations, that it is not only not all gold that glitters, but that " gozzan" oftener indicates brass than copper, and silver lead. THE " GREAT CONSOLIDATED" BUBBLE (From the same, October 22.) " The earth hath bubbles as the water has ; "And these are of them." --Macbeth. TO THE EDITOR OP THE CARLISLE PATRIOT you permit me through the medium Of your columns, to make public a huge scheme which is being now successfully carried out for obtaining money from the pub lic without an equivalent. The morality of the transaction I must leave for the public to decide upon, after reading the following statements. The plan consists in bringing out mining companies, the mines being in Cornwall. The parties, whom we will call A 13 and Co., have grand offices in London. The shares are disposed of there by themselves, and also in Liverpool and the North by means of agents. They take on lease certain old mines, or plots of land likely to contain ore, on the usual terms, viz., 1-16 dues on ore raised, or thereabouts. They then let it be known through private channels that they ,have got some wonderfully good mines, and otherwise act as though they had realised a fortune. As these have varied a little in each instance, I will give them seriatim, distinguishing them by the letters of the alphabet. The first was A mine ; they informed their friends that there was a few shares to sell in this valuable mine at £3 each ; that there were 5,000 shares to be sold, and printed circulars were issued, but no particu lars as to the financial affairs of the company. They said there were 20,000 shares in all; that 5,000 were disposed of to raise an additional capital to carry on more extensive operations, which they considered sufficient for the purpose. The destiny of the remaining 15,000 was carefully kept out of sight ; and they said, in reply to a question put, that " the original proprietors will have no advantage over others." Now, it appears that the 15,000 shares are really free shares appropriated to themselves, for the good-will and previous outlay on the mine ; in other words, £45,000 worth of shares. The mine and all its concerns are entirely worked by them; they are universal officers, but self-appointed. No meeting of this company was ever held, and no accounts over publiohod, although thoy havo boon oolling thoir oharco above twelve months. The public, in paying £3 per share, are thus really paying 300 per cent. premium ; and yet such is the blind confidence in the promoters, that the shares are now quoted at £5 10s., though no dividend has ever been paid. The fact that the 15,000 shares are granted, or rather taken for nothing, is, I believe, at the present moment unknown to most of the shareholders. Meanwhile another concern is being hatched, which I will call the B mine. This was an old mine, abandoned by former adventurers, and was taken by A B and Co., in January, 1851. This was brought out as a private com pany, first in 5,000 shares of £3 each, of which 1,000 were sold. The £3,000 thus produced set the company to work ; but in January this year, a meeting of the company was called by A B and Co., in London, to decide on bringing it out as a great public company. This was agreed to, and it was then reconstituted, with 50,000 shares of 30s. each, of which A B and Co. were to sell (as they had to do the 5,000 in the A mine), 10,000 shares to the public at 30s. or so many as would realise £15,000; 10,000 were given to the holders of the 1,000 shares of £3 each in the former company, and 30,000 were allotted to A B and Co. for nothing. Thus the holders of the 1,000 shares each got £l5 worth of shares for his £3, and were thus made ac complices. A further arrangement was also made that the £15,000 now raised, and the £3,000 previously raised, should all be entirely expended on the mine, and that the gross proceeds of ore should be divided in dividends. This rule, I find, applies to them all. Thus. Nominal capital. 10,000 shares sold for £15,000, bring.. ..... £15,000 10,000, ', 15,000, to original hold ers, bring 3,000 45,000, to A B and Co . nil. 30,000 Nominal capital, as ) 75,000 Real capital .. £lB,OOO per share list In other words, out of the £75,000 nominal capital, £57,000 is at once unavailable for the working of the mine. But the arrangement just referred to, is, in other words, simply an arrangement that this £lB,OOO of capital, found by the few, shall be divided as dividend amongst the whole. Thus, A B and Co., who found none of it, get XlO,BOO ; the original holders, who found £3,000, get £3,600 ; the n ew shareholders, who found £15,000, get £3,600. Again, by the way that A B and Co. have worded the resolution re specting selling the 10,000 shares, it will be seen that they simply credit the company £15,000, and if they can sell them at more, they keep the remainder ; in other words, they take the 10,000 shares, and add them to their 30,000, and credit the company £15,000. Thus it will be seen, as A 13-and Co., alone know the real value of the mine, alone know who the shareholders are, and make all the transfers, they can go on, and not only sell the 10,000, but also theif own 30,000 shares, and no one be the wiser. The price of these has been already run up to £4 10s. Taking 7s. 6d. as about the par price, (which it really is, if the capital, £lB,OOO, is divided among 50,000 shares), or 1,100 per cent. premium, and if they succeed in clearing out their shares—as why should not, being much more certain than waiting for the development of the mine—their account will stand thus : £45,000 16,000 shares, at £3, in A mine Premium on above, now £2 10s. per share, say on an average, £1 lOs .. Premium on the 5,000 shares sold first, say £1 each 30,000 shares, at 30s. each, itt B mine 45,000 Premiums on above, now quoting at £3, take it at 30s 22,500 45,000 Premiums on 10,000 shares sold to the public —say . [3.sths of the capital paid as divided if the shares are not sold, £10,800.] 10,000 Clear profit £175,000 Meanwhile another is preparing—the C mine—irt 50,000 shares of £2 each—Mo,ooo—" of which 10,000 shares are to be sold to raise a further working capital." This mine has 'been previously brought out in a small company like the B mine, and may be seen in the Mining fournal a few weeks back, as in "5,000 shares of £2 each, present price £4" this will be their own quotation. The pros pectus states that Mr. A. spent £6,000 on the mine, which has belonged to him for many years —what the last company spent we have no information ; but their own valuation in the mining list is 5,000 shares, at £4 each, or £20,000, which is evidently at least twice the amount laid out in the mine, and now they are going to accept 40,000 free shares at £2 as their consideration—or £BO,OOO for what they value at £20,000. Of this £BO,OOO worth of free shares doubtless' the holders of the shares in the little or first com pany, will, as in the 13 mine, receive a little bone to pick to keep them quiet, but leaving, no doubt, some 30,000 shares, or £60,000 worth to A B and Co. Were there only, one concern I can just perceive it pos sible that after_taking . an ordinary mine, they might have made some extraordinary discovery to, justify them in this; but when it comes one mine after another, each on a more gigantic scale than the previous one—when we look at the mysterious mode of bringing them out—the entire absence of any clear statement of accounts—the retention of the management in their own hands, and many more points that I can show to yon, Sir, only one conclusion can be come to, namely, 'that they think the public can be persuaded to in- Sin,—l, for one, heartily thank you for showing up in your last number the " Great Onslow Consolidated" which, take it all in all, is the most disgusting bubble of the day, because, in addition to having been hatched in fraud has been carried on in hypocrisy under the garb of philanthropy. The reports which you have published make known that the " Onslow Mine" was an old affair which had been abandoned in 1847. Why ? Clearly because it was worth nothing. It was at first called "The Great Mitchell Con solidated Copper Mines," of which it was agreed to sell 1000 shares at £3 each. This not answering the purpose of the projectors, on the 6th of March, 1851, the name was changed to " the Great Onslow Consolidated Mines," and in January, 1852, the train having been in the meanwhile laid, the shares were increased to 50,000, of which 10,000 or as many as were likely to produce £15,000, were sent into the market at 30s. per share. By June 1852 a con siderable portion of this sum was professedly realised ; that is, if the accounts kept by Messrs. Bennett and Carr were any way near the truth; I don't say they were; but such, I repeat, was the profession of the managers. They now began to develope their design upon the public. In that month they declared a dividend of 2s. per share upon the 50,000 shares, amounting to £5,000, while at the time not an ounce of copper had been produced, and the gross receipts (for mundic) amounted only to £1,527 16s. 4d., the outgoings, besides this spurious dividend, amounting to thousands. This dividend was telegraphed down to Liverpool; fabri cated statements of imaginary success in the working of the mines, as to copper and silver lead, were got into the Daily News, by what means, and at what cost, the parties con cerned best know. Of course, the public were grossly taken in. Shares were sold at a lari , ,e premium, and by whom they were chiefly sold may . be readily guessed; that is, by the chief operators in the juggle. The accounts establish that Messrs. Bennett and Carr, besides their other pickings, put into their pockets by the sham dividend out of the capital, £1,812. Subsequently, when the bubble had burst, and it was seen that there was no copper, nor none realiseable for years to come, if ever, (see Capt. Vivian's report,) Messrs. Bennett and Carr were constrained to relinquish their gripe of the £1,812. And even with this, Mr. Begbie, the ac countant employed to investigate the affair, by order of a general meeting held at Liverpool last August, shows that the amount of the entire receipts for sale of mundic to June 30, 1853, a year after the dividend was made, were insufficient to make up the amount %of the dividend by £230 7s. ld., notwithstanding that at the time Messrs. Bennett and Carr had the face to assure the shareholders, and the share-buying public, that the whole £5,000 was the produce of the mine in copper, mundic, &c., no copper having from first to last been found sufficient to make up change for a silver sixpence ! On the general account, as stated by Mr. Begbie, a balance is carried forward in favour of the shareholders to the nominal amount of £2,616 16s. 10d. But as there was no bank account, and the books were withheld by Mr. H. Carr, Mr. Bennett's coadjutor, it was not known that a single shilling lay in store. Taking it at the best, the pro • duct of the 1,000 shares at 60s, namely, £3,000, and that of the 10,000 at 30s, to wit, £15,000, has been all swallowed up, save that insignificent sum, and those who were trapped into taking shares at first at par, and those who were cheated into purchasing subsequently at a premium, awoke one fine morning at the beginning of the present month, when the report of Messrs. Harrison and Hopkins saw the light, and found that the shares which they had flattered themselves were a little fortune were no better than waste paper ! There was a meeting at Liverpool-on Friday arising out of this report. I did not attend. I was too much disgusted, and, indeed, felt sure that by going I should throw away good money after bad. I have, however, seen a copy of the reso lutions said to have been passed there. It is enough. Mr. H. Carr is banished to the Red Sea; Mr. Bennett presided ! ! The mines were newly constituted. That is, were drest in another garb, the old one being too well known. The share holders present agreed to differ as little as possible. Let us, said one, not cry st--0 6 fish. The advice was taken. There is to be an issue ofnew shares, if anybody will have them ; and the b es t o f th e j o k e i s that 1000 are presented to Mr. Bennett for his great and faithful services and the prestige of his name ! ! How Mr. Harrison and Mr. Hop kins could agree to this hocus-pocus surpasses My power of comprehension. But whatever the gentlemen who assem bled at Liverpool on Friday may fancy, they may depend upon my word when I assure them that the public are wide awake The secret history of this very shameful bubble is at once amusing and melancholy. It originated in a back-room behind a celebrated biscuit shop in the Strand. Here the plan was discussed and matured. The abandoned old mine was voted to be a California of wealth,—provided the Public could be induced to bite. Showy offices were fitted up in the city ; and at the west end one of the operators opened a splendid mansion, brilliantly furnished, and plenti fully provided with gorgeously arrayed livered servants. Here were proofs of prosperity ! If the Great Onslow Consolidated produced such fine things for B. and C., why, of course, it was argued, they would produce similar fine things, in degree, for those who might be so happy as to Obtain the favour of a grant of shares. Yet, somehow, the Londoners were not to be had-- they did not rush in crowds for. the Great Onslow Consols ! They knew Moorgate-street pretty well, had he ar d o f C a p e l C ourt, and some of the more penetrating i had got scent of th e back room behind the biscuit shop n the Strand. Well, the game was, "Try Manchester." Man c he s te r was tr i e d , b ut was found wanting; nobody would touch. The story of the back room in the Strand, had evidently been told, though I had not at that time heard of it; nor had I heard of tran sactions of a similar kind, which years before had set Man chester Exchange in an uproa r , an d l e d t o re p u di a ti on an d expulsion, thoug the whole was set forth at the time in the Manchester Guardian, a copy of which I will send you in a few days. The next dodge was, " Try Liverpool " There, by dint of the di v id en d, the Daily News paragraphs, and telegraphic dispatches of discoveries , of lodes of copper, a tolerable haul of flat-fish was secured. Messrs Bennett and Carr appeared in the full bloom of affluence. They aLso went to Carlisle, I remember. They were there hailed as beings of another sphere. They attracted a literal crowd of " favoured" ones at the Temperance. A few days after wards, I met with a friend from .Carlisle, who was present ; he was in raptures, and considered his fortune made. He described to me the proceedings. Mr. Bennett presided ; Mr Carr displayed a gold chain—quite a set-off to the thing worn by the mayor of your city when he wishes to look par ticularly magnificent. The " Great Onslow Consolidated" was expounded in rapturous terms ; shares were doled out as an especial benediction; and those who could not obtain all • they wanted of tNat splendid undertaking were graciously accommodated with any number of "Ferran Consolidated" at £2 per share, or were offered slices of " Penquean Slate Quarries" at £3 each. My informant told me that none but " particular friends " were admitted to this meeting; it was almost exclusively, if not wholly'so a "liberargathering. It wa s proposed by ,in astrainoiedifving-piety and phi lanthropy, thatagiven number ofshares should be secured for the local public charitable institutions, which might, he said, be thereby enriched, under providence, in all time to come. So much struck was a learned doctor of medicine present, with the generous benevolence of the gentleman whom I have named, that he got up at the conclusion of the meeting and moved thanks to him, not only as one who had done more for Carlisle than any other living man, but as a " public benefactor." This was carried by acclamation, and the complimented gentleman owned the soft impeach ment. He said he believed that he had, under providence, done something for Carlisle, and he was desirous of being useful in a wider range. The " good thing " of these shares was a prize which he wished his particular friends to avail themselves of; riches made themselves wings, but a man was hardly justified in neglecting to avail himself of advan tages which would render him more useful to his fellow creatures. He could only say that those who did not then act with decision, would in all probability , have reason to be sorry for it. Loud applause concluded the meeting. Every one present felt the depth of his pockets, and most of them were mentally deemed too contracted. In the course of a few days, as I have seen by the lists, and gathered from what my friend told me, there was quite a rage for Bennett and Carr's " good things." Among the names, I observe : Mr. Rome, late draper ; Dr. Lonsdale, a large amount ; Mr. Wright, solicitor ; Mr. Howe, solicitor ; Mr. John Nanson, solicitor ; Mr. Jackson, solicitor, and clerk to the borough magistrates ; Mr. Hope, wine merchant ; Mr. Carruthers, steam-packet office; Mr. Procter brazier; Mr. Farrer, City and District Bank : Mr. Harrison, druggist ; Mr. Sawyer, druggist; Mr. Thompson, druggist; Mr. Matthews, weighing-machine ; Mr. Blacklock, grocer ; Miss Lattimer ; Mr. Duncan, Temperance Hotel; Rev. Dr. Buck; Mr. Forster, manager at Messrs. Dixon's ; Mr. Railton, goods manager at the railway ; Mr. Hickison, clerk at Mr. J. D. Carr's ; Mr. Sargeant in the employ of ditto ; Mr. Cowen, ditto; Mr. R. Brockbank, ditto; Mr. John Brockbank, ditto ; Mr. R. Nevett, ditto ; A governess at Mr. Carr's ; Mr. Procter, brother-in-law to Mr. Carr, £2000; Mr. Gill, of one of the railways at Carlisle; Mr. J. Parker, of the Newcastle and Carlisle Railway ; Mr. Thorpe, bank clerk ; Mr. Hamilton, at Messrs. Dixon's ; Mr. Brock bank, veterinary surgeon ; Mr. Hannah, teacher; Mr. Arm strong, timber merchant; Mr. Irving, grocer, &c. There are others whose names have not reached me, or I have forgotten them. Now, - Mr. Editor, are not these victims most cruelly treated ? Nay, are not the greater part atrociously I am sure I pity them from the bottom of my heart; yet they have this consolation—they suffer for the benefit of their fellow-creatures, for their fate will und ou bt e dl y operate as a trumpet-tongued warning, and will teach the too ere dnlous, who have trusted to appearances, that too often when extra philanthropy is professed there is anything rather than pure benevolence behind : that, in short, " when most fair, most foul." Is it surprising that legal proceedings are about to be taken against some of the decoys ? ONE OP THOSE WHO SMART. Manchester, Oct. 18, 1853, THE CORNISH BUBBLE SCHEMES. (From the same, Oct. 29th.) The following letter appeared in the Manchester Guardian of January Ist, 1853 : TO THE EDITOR OF THE MANCHESTER GUARDIAN vest in anything—that they thus endeavour to r t public money without any real equivalent—and t _ld e o great fulcrum by which they work their lever is, " ci"" in themselves." These three concerns are not all, h ow ever ; more a re ot /te. paring ; one, at least, is now being got together in its e or smaller constitution, and will doubtless ere long o , lll co li full fledged, and others are waiting their turn. I i od point out to you many more points of suspicion, bit 1.4 not encroach too much on your valuable space. seem superfluous to earn your readers against so out s , a scheme, but people are being taken in on all ilanwogo Hoping this may prove a salutary caution, I orn , respectfully, T tt s. R-06." KEY NOTE; A.—Boscarne. B.—Great Onslow, C.—Perran Consols. The other mine, Mount's-bay: THE CORNISH MINING 817881L 171 ' 5 ' (From the same, November 5) A numerous meeting of the shareholders in the N u bay and Perran milling speculations, w as held on 81 night, at the Temperance Hotel in this city. At the opening of the proceedings, somethini, and insinuated about the objects of the Patriot In the truth about these undertakings, and some sorem7, s l evinced that the names o f l oca l shareholders had bee public. We beg to assure those geitlemen, and tbe at large, that our motive w as th e p er f ormance of a T ' duty and as to the local shareholders, find in the sequel, that their interest has been proul ° Tii the course we took ; at all even t s , th a t th e we lfare ,° public generally has been consulted, f or w hil e on °ell hand, dishonest schemers have been exposed and coin acted, honest and bona fide adventurers in mining hace ly warned of the danger of lendin g t oo rea dy an car t° ., representations of men, whose object it i s t o fill their I' . at the expense of their neighbours. A Explanations were giv en , a n d s t a t emen t s were ma e ) the Mount's-bay mine, which, till the meeting on Saj evening, many of the shareholders were disposed to as a speculation of a much more substantial character the Great Onslow, the Perran, or the Penque o Ao, quarries. The inqui r i es ma d e on Saturday night elle'', awkward fact that no one present really knew anythiag ke d the Mount's-bay mine, e xce pt th a t i t can on l y b e wer, going through land belonging to Mr. Bennett, who b ' f s# the power of making his own terms, and what t be bt likely to be may be i n f erre d f rom what he has alreakol Mr. J. D. Carr, of Carlisle, also entered into e . " tions, which, we are t o ld, were no t at a ll sat i s f ac tory . meeting, and which his best friends were sorry t o bear." admitted his ea r ly connex i on w i t h t h e Great Onslow s ' ll os / and a recent connexion with it; but denied that be party to the fraudulent dividend by which the shail g e surreptitiously raised to a premium. He ackno / l, i ii i that he originally held s h ares w ith out pay i ng the '7!, price for them ; that he had sold shares at a preriliti 3 ; e said he had bought some a t a p rem i um, b ut d i d not si t ; number or the time. This part of the evening's proe e was at once disappointing and painful. After a good deal of discussion of a desultory an'„ t te 7 it was agreed to depute M r . J o h n N anson, so li c it or , te," o 4' a meeting of shareholde rs a t Li verpoo l on t h e 301 (yesterday.) , 0 1P The meeting was adjourned to Monday, at seYell l e , ol o in the evening, wh en th e l oca l Mount's-bay sha reP re cei tl , will again assemble, if they think it worth while, Mr. Nanson's report of yesterday's sayings and 0 80. " Liverpool. [Cs' W 3 5. lliA we think t THE CORNISH MINING BUBBLES. (From the same, No v . lg.) ale ; On Monday evening th e local shareholders in the Mining Bubbles assembled at the Temperance Hotel/ it l .'" e ito city, to receive the re p or t o f M r. J o h n Nanson, o'olo who had been deputed t o a tt en d a meet i ng at WI Or . , the preceding Thursday. Tht interested were part s wb merous, and 111 r. Page presid e d. M r. N anson s tated ,0 had taken place at Liv er p oo l ; h e a l so rea d a 613' o ;v4 drawn up by Mr. J. Dodgson Carr, of Carlisle, and 14 07 discussion ensued. Mr. Carr was closely qu estion though he did his best t o d e f en d himself, and two or 9' of his private friends aid e d him all in their power, tl t i e ing of the meetin g , on separat i ng . was that he 11 '1 Be`" guilty of " complicity " i n th e procee di ngs of Mess'' be e, h ; nett and Carr, th e natu re o f w hi c h proceedings ha„; „ T' t repeatedly set forth in the co l umns o f t hi s joura' ve s d c effect of this was soon seen. On WednesdaY .. ,:d e , another meeti ng was held, when a proposal was t behalf of Mr. J. D. Ca rr , th at h e was ady to toAe:.:oo.a cost price, one half o f th e s h ares held byeverY P e t ; d i Carlisle who had purchased on account of anything h e Lo or done, at a sacrifice of £4,000. After some disea'sg l ' was acquiesced in, and the meeting passed the follosorubll' solution, a copy o f w hi c h has b een handed to us f°l. cation : " That this meeting being satisfied with the e , -1- f",t which have been given this evening in reference tf r ,io e;, nexion of Mr. Jonathan Dodgson Carr with tnere j i 4 i c a, Cornish Mines in which the personsnweirg "n"'!" the fully acquit .....t,t im o any want of perfec in transactions, and consider that his charact( remains untarnished." Clark ifet Messrs. Hewson, Robinson, and Thomas r iche named as trustees for carrying out this proposal. ht, ;41 lution is certainly quite a rarity. On Monday 111 %0 Carr was treated as something which we shall not on offering to make partial restitution by putting £4OOO, he is seen in quite a new light. While the 11 , 1e ;bel "regretted the indiscretions he has comm itted,' ;0 tti "fully acquit him of a n y wan t o f perfect integr it Y;y rt: transactions, and consider th a t hi s character for ho ne s ic, mains untarnished "! ! No want of " perfect inteo and " character f or h ones t y un t arn i s h e d , " yet Ile cep tis l £4OOO by way of restituti on , an d th e mee ting ac_,J tr giving, in return, whi c h can d o M r. C arr no g ood, ;P; fleets upon the d onors no h onor. If there has b want of "perfect integrity," why i s £4OOO t o be Pai d A ° o The The offer is a plea of conscious "complicity." For the deluded shareholders give a certificate ; and lki ff puts himself in th e p os iti on o f attempt i ng to escape ;tO," want of "perfect integ r ity" b y an a ff ecte d adraissL ° f Of: he is devoid of comm on in t e ll igence. Th e" act o ro strange affair is altogether worthy of the first. 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Establishment, 19, South John Street, ivrr° TUESDAY, NOVEMBER, 22, 1853. 14 1 , ,' , *e - c i' t t '(,i'e i s \ ~I 31( 4% d iZtu, r4 Z I4 . 4 4 tl 3 *ll‘ 't.k ) I, k l 11), aid t;~ h !a~'t