The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1881-06-14 00:00:00

MA/MET ROUSE TRUST.

There has been butrawed to erect the msrket house the
som of .C 10,01.10 of this .C 3,550 has been borrowed at
four per cont. (two thousand of which are preference
hood,. on which the inter... 4 has I.cen regularly psid)
.C 1,450 was borrowed at five per cent. The security
given under the Act of Parliament crating the trust
was the inc,nise derived from the market tails. To pay
the full dividends to the bondholders reqoirert the sum of
£ll4 les. pd annum ; aftsr.the expenses of keening the
building in repair, colleirticur the dues, ilk, ao. Now for
silt en years the interest has been falling Iwo arrears, and
at this time there Cr. arrears of interest ttie to the non-
prefereatial bondhoiders amounting in the aggregata to
£1.311 facts the Interest se each is seven years behind
band. Instead of £lll 10s. as a divisible sum for interest
there has h•-en an average annual deficit during this
period of .CllO. Thin arrest of intsrest is proposed to be
added loth.. rebel sum of £lO,OOO, which will make, the
debt on the market house, for which • uniform four per
cent. ini..rest is to be provided, .C 12,311 which will require
n,t £ll4 10.. as heretofore, but .ClOl I2a. ; and if for the
last IU years there there has been a regular deficit of .C 146
per annum, the future surplus sum to he provided on this
usolidated debt to meet this augmented deficiency will
he £2'l di. From this it will be seen that the consolida-
tion of the trusts will have to provide, as its first duty,- for
augmented claim on its resources.

PILIPPIEII. BONDS.
From the miming of the Pile-pier up to the last year
there was • deb• of £9,300 resting on it, the bonds Mar-
ine a five per cent interest. To meet this interest £465
was necessary as an annual charge. This was regularly
plid up to the early part of tho last year, when the Pi..
pier,having fallen into etch • ruinous atcl dangerous state,
the Council, acting on high legal authoritY, stooped the
payment of any further interest until they bad put the
tarn lure In a state of repair. The income from the pier
had just covered the annual charges; not a single shilling
of debt had been paid off, or the slightest fund created to
keep the property In repair. It had fallen into ruin. As
the legal liability to repair it rooted as a first charge on
the to VOll3lO of the pier, the largest bondholders advanced
• further sum of A 1,030 for its restoration, which sum of
A 4,000, by mutual aareenient amongst the bondholders,
is to be recouped, with five per cent. interest, as a first
charge, out of the moneys received from the pier; and the
interest on the original £9,300 will remain in abeyance
until this sum has been fully repaid.
If the pier had from tips to time been kept in repair
as it ought to have been the bondh driers could not have
bad their full rate of interest. The pier has been 20
y.-are in exi.itenre, and the sum of £4,000 represents an
average of £2.1 3 tier annum for repairs arid maintenance.
Nidoubt had one belt of this sum been employed when
decay first appelre 1, and the evils stopped by timely
repair, the pier "tight have been kept in order; but it was
not done. ant the 0. ma.Nucac had been the distil irk
into which the interest on the original bones is now
brought. Until this Now of £4,000 be repaid no interest
' will be paid on the org:ual debt of ,C 9,300. The Mayor,
whe is the legal agent of these bondh liters, having been
appointed the "receiver- of the present income of the
, pier, will, I have no dJaht, fully corroborate my atate•
moms as facts, if neclssory.
_

hitherto the sure of SA., per annum has sufficed to pay
all r'aitus of int, rest on this £A3OO but if the .I.oa of
.C 1,0 be added, and there is interest to pay on £1331.),
it, will be seen thst at four per cent. the stun of a'.312 will
hi required, being .CB7 per sun au in OlCtsal on what has
h;thertoota paid. . . .

Here, then. we have on these trust. additi Intl sums to
ruet. There inu.t be a further sum of .1:22.5 per annum
to meet the clams of ths tusrkrXh,use, bs-i le the £47
addeionsi on the Pik-pier, t *ostler Elf 2 in excess
of p:st papal 3nts.
HARBOUR VUND.

On this, the most important tuts!, Mr. Rsbent promises
forthrr particulars. remarking that the debt ou the bar.
bur ie £2Eoso—that the intere+t on the bowls is live pr
cent., so that a redurti ro h-re from live to four per cent.
would yield * cirplue of at% but it will be .en that the
market trust alone will room than absorb tt is.

JUDO.VENT ON THE BACKWATER BRIDGE.
Qilll4llll Bench Division, Westminster, Present :
Lord Chief Justice Gs [midge. Mr. Junta. Bowen, Kr.
Justice Yield I the Solicitor-Garter (Sir li. Gifford). Mr.
A. Collins, Q.C., Kr. Pitt-Lswis, counsel f Town Csuncil
of Weymouth ; Kr. A. Owls.. Q , and Mr. Norris,
counsel for Justices of Dorset. Judgment.—Mr. Justice
Field: I am of opinion that We role moot be discharged.
It was an indictment tried before my L ,rd the Om(
Justice at D web/04m Assure, cud it charged the inhabi-
tants of the county of Dorset with criminal offencs—why
it should be a criminal offence I don't know ; but 00
it i•—the criminal offence of not repairing a bridge—a
bridge which undoubtedly stood within their county—
and my lord directed a verdict against the coun'y. A
rule wail obtained in this Division to set aside that
verdict on tho ground of misdirection. The direction was,
as I understand, that these defendante were guilty, and
that there was no evidence t destroy their liability, and,
in p dot of fact, that they hail no case to go to the jury.
This liaSility, which w snught ti be enforced azainst
the county, was a liability alleged ti have been created by
tho 12th !section of the ?led and 34th Vic. cap. 73. The
question is whether or not thst section does apply to this
ease'
r and whether it does cres'e the liability which is
alleged. Now the bridge in question was a bridge
constructed under the provisions of the Act of the 20th and
21st Vie., which provided in substance for the making of a
new road by means of which the inhabitants of a large
place like Weymouth, h-tog sonsowhat crumpet up
between the Backwater and the se., oh cold have senses to
the open country beyond the 13 ickwAter. For that
purpose the new highway hl to commence in Weymouth
and cross the river; it omit he done, of course, tint by
means of a bridge, and then by A highway, and for
that purpose the Act of Parlb.mcnt created a body
of tiustsets-cme body only—one body of trustees, for
the purpose of ceostructme the bridge and highway,
and of bating tho llobilitios to repair the bridge and high-
way. They were also authir.sed to borrow money on the
bridge and highway, and to take tolls for the passage of
---- the b. idgo and highway. Mr. Charles clearly
. . .