The Daily Times.
Liverpool, Merseyside, England, 1860-10-04 00:00:00

GREAT FIRE THIS MORNING.

A fire broke out shortly after one o'clock this
morning, on the premises of Mr. Jacob Stonier, 48,
Harrington-street, pickled sauce Makers, ivhiell entirely
gutted the building. The fire Was discovered shortly
after it broke 'out by Police-officer Larrigan (334).
Inspector Valentine was one of the first officers on the
spot. Mr. Hewitt and the fire brigade were imme-
diately at the scene, and rendered most efficient service.
Adjoining Mr. Stower's warehouse is that of Messrs.
Kirkwood and Barrell, provision merchants, in the top
room of whose warehouse was stored very large
quantity of loose cotton, the ender robins bein Stored
with theese, Owing t 6 the infianitil'able nature of
the materials the fire Made &cat headway, but from the
efficient supply 'of -Water the fire was soon got under, but
not until Very considerable damage was sustained. The
firemen succeeded in bringing several additional hose to
bear upon the rear of the' premises, by taking them
through the shop of Mr. Wood, hatter, 73, Lord-street.
The men got upon the roof of the back buildings, and
being thus on a level With Vle windows of the burning
warehouses, encrmons Volumes of water was continually
discharged upon the flames until they were subdued.
There were ten jets in ,full play, and we were informed
by Mr. tonneau, the water engineer, who was in atten-
dance, that the supply of water from the jets was about.
1,000 gallons per minute, the water being thrOwn 80
feet in height. The officers prestnt A the fire were
Major Greig, Divisional 6iiperidenclent Quick, Super-
intendents Haymes and Murphy, Inspectors Valentine,
O'Brien, Hassall, Conlin, and Tomlinson.

ITALIAN OPERAS- AT THE THEATRE

ROYAL.

" Don Giovanni," with a very strong east' with the
exception of the libertinelimself, Iva,s, given last night
at the Theatre Royal in prestae of an audience fully
as brilliant and nnmerons as that which was assembled
to witness "Le 'Trovatore " on Monday. We regret
we are unavoidably compelled to reserve our notice of
the performance until our Saturday's issue.
To-morrow evening our readers are reminded they
will have an opportunity of witnessing in this theatre
the representation of Verdi's highly interesting opera of
"Rigoletto," when the entire strength of la partie
Italienne musicale will be made available for the grati-
fication of the Liverpool public.

THE MANCHESTER COMPANY. AT THE
THEATRE ROYAL.,

The public are specially reminded that this evening
the admirable company from the Theatre Royal, Man-
chester, will again perform in the thrilling and romantic
drama of " Faust and Marguerite." In point of acting,
scenery, music, and decorations, as well as in other
respects, this piece is, as we said in oar notice Of Tues-
day's performance, decidedly one of the most attractive
and satisfactory representations that has ever been put
upon the Liverpool stage. It will be again followed by
the "Maid and the Magpie."

_ .
WIRRAL AGRICULTURAL SOCIETY.—We understand
that the autumn exhibition of this society took place
yesterday, and was well attended.
ARCHITECTURAL SOCLIET T.—The first meeting of the
winter session of.theLiverpool Architectural Society
was held last evening, at the Royal Institution, Colquitt-
street.
ic THE LIGHT OF TILE 70RLD."—This splendid pic-
ture, which is now on
view at the Fine Art Gallery,
will be removed from
Liverpool and London Those persons who
Liverpool to-morrow (Fri
qh a md
abye. )
r. s ,
have not seen this picture should avail themselves of the
present opportunity.
. CLERGYMAN.—The Rev.
SUDDEN DEATH Or ~
Henry Addiscott, Independent Minister, who belonged
to Taunton, in Somerset, died suddenly in North John-
street on Tuesday evening. He was
com-
pany with his son, from the Ph returning, in
ilharmonic ball to the
Angel Hotel, and complained of the want of breath; his
son called a cab, but the rev. gentleman died before the
vehicle reached the hotel.
The funeral of the late James Robertson, Esq., will
take place at the Toxteth-park Cemetery: Sraithdown
0. his late
lane, on Saturday morning next, leavin, e
issued,
residence, Peel-street, at half-past nine.
V under-
stand that no formal invitations have been
excepting to his immediate relatives, but we believe it is
the intention of the Watch Committee to be present, to
pay the last sad tribute of respect to one so universally
regretted.
PRINCE ALFRED AND THE VOLUNTEERS.--
Prince
Alfred, on his late tour, said he had been informed that
one of the privates in his escort from the Cape
Volun-
teer Cavalry was a millionaire, and on being told that
it was quite true, said he should much like to see the
gentleman, who, regardless of the wealth at his com-
mand, thought it not beneath his dignity to serve her
Majesty as a private in a volunteer company. Mr'
W. fliddingh was pointed out to him, and the Prince
appeared very much delighted at the idea. Prince
Alfred may now be told something further of Mr. Wm.
Hiddingh, who is in every respect as estimable as he is
wealthy. He has given £lOO towards the Sailors' Home,
and will, at his own expense, give a ball in honour of
his Royal
Highness, the expense of which will be, at
least £500.--Cape 4rgus.

THE TOWN COUNCIL.

The monthlt meeting of the Council was held yester
day, at the To*n=halls The Maidt, T 4 Ds Anderson;
Esq., presided:

TitE DEATIi dF 31R; RthiERtION,

The.MAidß" said, before the bushittgd of the Ootindil
*as cdninienced, lt.*aSslkiS pa flutyi and hq
it would be equally painful to all, to that
within forty-eight.hours, they had, by gadded death, IpSt
a most valued and respected friend, and member of thig
Council. There was no doubt that they were all aware
of the death of Mr. Robertson, one of the members for
South Toxteth Ward. He need scarcely say to all, who
knew him that in his death the Council had lost a most
experienced, intelligent, and useful member, and he
(the Mayor) had no doubt, that all would feel that they
had lost a warm'-hearted friend.

3,lTi.Ce_Aitt,ts Tens've. was sure that the Council, as
, he, id, would,feeLthezreatest regret at the thllloollCe.
ment. Mr. Robertson did.,not,Ofteit sycak in the Conn-
ell, but he was a constant attendant on, the, 6:riniiti,e'es
of which he was a member, and his services were most
valuable. They must all regret his loss, and he hoped
the Council would express their sympathy with the family
in their bereavement. He moved that the Mayor express
the deep regret the Council felt at the great loss his
family had sustained.
Mr. 'CLINT seconded the supestion. He passed a
high eulogium upon the late suggestion..
Robertson, and after
alluding to the two deaths that had occurred in the
Council, of two gentlemen, one from one side of the
room, and one from the other, each of whom were very
'different in temperament, but were equally anxious to
carry mit `their holiest principles. He tlionght the
Council should ieceiVe a lessdn; and ridt waste their time
in bicl eripg.1 In etnieltisioil; he said lie had dtirixtg the
seven years he had Sat, With Mi. IteliertSori,cin the r atch
Conimittee, reoeiicd the greatest assistance from him:
He was the chairman of tlic sub-committee for super-
annuation, and lent valuable services to that as well as
the General Committee. It was with mournful regret
however, that he seconded the motion.
It was adopted in silence.

THE FINANCE COMMITTEE.

THE SALE OF CORPORATE PROPERTY AT BIRKENHEAD.

---
The proceedings, resolittions, and reports of the Finance
Committee, comprising recommendation to increase the
salary of Mr. Edward Fitzgerald, clerk in the Town
Clerk's office, from £136 to £2OO per annum ; and the
salary of John 'Andrews, from £52 to £BO per annum;
the consideration of which Was postponed at the last
monthly council, pursuant to the standing orders. he-
'commendation to increase the salaries Of i tr. Thomas
Poole and Mr. Charles Robinson., ColleCtors of Town
and Dock Pines from .SllO to 1.30 per annum each.
Report as to the mode of dealhig With the Aniitial income
of the Corporate estate. In the course Of theg pici-
ceedihg, niention Was made dr a report i poii the gale of
the Corporation property, at Birkenhead.
The MA.YOri wished to know Whether it ids the Wish
of the Council that the report shotild beretict
- Mr. J. ai the chairman of tlie rinanCo
'Coniniittee, he hiiPed it Wcitild not Be t:e&l, ns it-might
'be injarietis td the inteicistA of the toW-ri,:as ft 6oiitatdd
matters which might be brought before courts of law for
to be adjudicated upon.
_

Mr. WoounuFF thought the. report shoold be read.
Mr. STITT said if the report was !l9t re ii might be
implied that th+
were afraid, and. he thought
secrecy would best be avoided.
Mr. GLADSTONE strongly urged that the report should
be read,
Some eonYer§ation followed, after whigh
The Tot.r,..cyfrtz there.wasAl qtte§tipg,hofore
the Council, for as gentlemen. had requested the report
should be read, it must be read.
. The following important report from Mr. Weightman,'
reference to the proposed sale to the Mersey Docks
and.liarbour Board of ;the reversionary interest of the
Corporation .in the property at Birkenhead, was then
read 1— .

TO THE CIEAtIMAN AND MENDERS Rtai, Estrry.

SUB-COMMITTEN OF FINANUE

GENTLEMEN,—In, accordance with the instructions of your
committ e, I beg to submit the following redort and observa-
tions on the subject of the reversionary interest of the Cor-
poration of Liverpool in the lands at Birkeahead, now held by
nfuid.conmillantinhbdeo
su,3rlasßt
iciedaar:dye,,:og'
of
nnndteeid•
October,,
bays cheBes4pBce.oc o
-s
pt‘ 1 i'nTer rni‘gni eefrrnspreoy7rstDi iencakor ssf
"The Birkenhead Dock Company ;" and as ' regards the
61 sr
Thist
Tdha
question
mo fe Dr seee,e hasmp December,
eebkra
jelntwBa2wd,i.
s. to Messrs.
karM:rs
rb:efosAinsunerrlsi
ie.
ititAclts
letter
u(?mlf:l.:o,wonjhe
ti.
remainder, under a contract for a lease for 7:5 years from the
the
geli ect the i
nhe chairmantpaiadrmeltnni
6"f Tthlieelirdstily6j Dock:C
the Corporation to sell, and the board to piirchase; the reverSiorl
testhe Birkenhead estate, and inquiring iiliether ilie COrnOra- •
don Were willing to treat for the sale to ;the Ward of the
reversion to the, preprty at Ilirkeithead„ held by the hoard
under, utile CorPerationj attd a Mat the tithird desired to
puteliale
This letter Was referred by the Finance Coniniitteil, third
Whom I received instruction to report fully upon the question
in all its bearings.
In obeying this order of your committee. I think it may be
annfden Hnavrebrotiunigß Wallaseyoard.
Pool to
desirable to recapitulate the heads of the history of• the estate
in question, at least so far as regards that portion of it now in
the hands of the .MerseypuArbpoosuetstehoenYncee';4lB2:ith the commerce of the Mersey having
thDe Docks and
suggested itself tosione eiV two, individuals, negotiati,ons took
plate bet Ween Or partieN olktler Of the lands Upon
the smith bank the said pOol for their purehaie, the scheme
having got wind. The Corporation, becoming aware of the
importance of the subject, secured, on the year before-named,
possession by purchase of the whale of the lands•in einestion,
that is, from Bridge End westward to the road called Ilehester-
road, comprising all the lands, now. 440 on ;lease by " The
Mersey Docks and Harbour Board." as Well as other lands on
lease to other,ildit • •
The landg so assured by the Corporation hi 1828 remained in
their hands until 1843.
In the last-named year the Corporation having determined
to offer these lands for salei, a sudden demand appeared to
spring up ; and in a short, period the whole, to the extent
before 'described; was disposed of, on contracts, for leases, to
differerit ostensible purchasers. ,
Thus-:-In becenther, 1813, the CorPoilatidri totiteleted to sell
to lqesirs., I. and W. Walker a Mail. piece, idf frdriting
Wallasey row., the *eat side of Cathdart-atteet, containing
6,852 square yardo, on lea. for 75 scars, for the sum of
£4,111 45., and which piece afterwards passing into tlie hands
of "The 'Birkenhead Dock Company" constitutes the most
eastwardly portion of the lands held by "The Mersey Docks
and Harbour Board" westward (Atha tattoo of," Thetßirken-
head, Lancashire, and Cliephire-JuncOon dtailway Company.".
. As. before mtatad, the more valuable portions; of the; lands
frdnting Wallaee, port had Been 'edritracted for in PO. by
various parties, Who, either as speculators or as tigenta for ail
ulterior object, had been pnt forward to make the respective
purchases. This remark applies to about two-thirds of the
water frontage to the Pool from the eastward, and to a quan-
tity of 230,493 square yards, varying in price from 108 to 16s
per yard. •
The Whole of the Purchasers or agents b3fore referred to,
having Aisposed of sor transferred, Uses ievoeat Mterests , in
these perehases to Meisrti..POtter; Jaeßbori, BroWn-
figg, and those gentlemen having becoMe the purchaser of
the whose of the remaining estate of the Corporation westward
to Ilehester-road, took up a lease of the whole, dated the 31st
December, 1844, for 75 years; as regards the portions obtained
by transfers from the 15th December, 1813, and as regards the
remainder from the Ist March, 1844, the total quantity so
leased being 716,915 square yards, and the purchase money
£265,090 Bs. Ort.'
tion leases, and certain soecial
This lease contained covenants inSeited id•Corportt-
lands in qUiStion; Allah 4s ptimibaion (as regards tome *l'-
600)Jthe 11thei) construct docks, basins, sea and wharf
walls. It also contains a covenant imposed upon all leases of
the Corporation in the case of naked land; namely, to erect
..letizqtlttnts apPlis his to the
within the term granted buildings of greater yearly Value
than the value of the land; but with a provision in favour of
these lessees, that the cost of -such docks, basins, sea or wharf
walls, should be accounted in part satisfaction of the covenant.
The lessees further covenanted, that they would, on or before
the 10th of March 1816, erect a sea wall, or sea walls. along
the northern boundary of the lands so leased, in such line as
should be fixed by the finance committee, and appr..ved of by
the Lords Commissioners for the Oepservancy,of the Nver**er.
sey or the acting Conseryaters appdintesl,by, clieb•Comiansft94-.
ere ; such sea. Volls to beconie, as ideas they tiliould extend, the
boundaries of the se dial pieties of land demised.
the leading parties at Birkenhead and interested therein,
having sedated thesel lands, proceeded to develop their plans,
and in• 1844 obtained an Act of Parliament, which received the
royal assent on the 19th of July in that year, entitled " An Act
for Constructing Tidal Basins, a Dock, and other Works, at
interested in the tants
Bir-
kenhead, and for ether purposes," being.the 77th and Bth Vic.,
cap. 79, and which was the first Birkenhead Dock Act.
fug
gt
docks,
cPka4 1 ilya ma
warehouses, 18teadndbi
In the following year, 1845,, the, parties, more immediately
xtioidtohltele4c.7.E.Lk.dli—ohnfoi,,‘f,aii4qintarei:therducidtat
whleh received the royal assent on the 30th of June in that year,
by which the promoters were incorporated by the title of The
Birkenhead Dock Company," with power to purchase lands and
to construct works.
To the company so constituted, the lessees of those lands
(demised by the lease of the 31st December, 1814), transferred
the entire land fronting the pool, betweex Walker's demise
and Lichestcr-road, containing about 460,000 square yards, for
the purpose of the works contemplated by the act on f 105 ;
themselves at the tine being rout.of t-wefre directdrt
named in the act," and thb Chief promoters of the undertaking.
Irt•puTstitiace of their object, and under the powers of their
I a Act orrliament, the Birkenhead Dock Company gave 'the
Corporation notice of their intention to acquire the reversion
of the lands held by them under their agreement with, or
assignment from, the lessees, including Walker's; and the
Corporation having elected to proceed by way of arbitration to
ascertain the value, arbitrators were accordingly appointed,—
Mr. Sergeant Byles, now Mr. Justice Byles, by the Corpora-
tion, and Mr. Martin, Q.C., now Mr. Baron Martin, by the
company.
These gentleinen proceeded with the enquiry on the 81st
Dec., 1845, and subsequently made an award in favour of the
Corporation of £113,000,
This award was
.never taken tip by the coenpitny, in ednael
quence, I presume, of.lack of ftindt.
Subsequently the tid autliorged bodies directiqg the var-
lobs portions of the seliemes at Birkenhead, viz. the commis-
sioners for tonStrtieting the dock basins and outer works, and
the Dock Company interested in the lands now under consi-
deration, proceeded with the execution of their respective
works.
These matters went on until, in 1848, the Dock Company
applied for a renewal of the lease of the lands acquired by
them from the original lessees, and, after considerable negotia-
tions, a new lease for 70 years from the 31st October, 1818, was
granted to them of all those lands of which, in 1845, they had
dfrom ckn
and
the pool
sought to obtain the reversion, that is to ear fronieastthe ortontfetsht
between Cathcart-street arid Ilthetlet road, bounded on the
bnsouthyyltvh no bi
seaiya
s r
0 o.e r p v,:ornhaia,tri
landsfeni abnubdi
el
tißneigantunaf
eoerreeto-.reri
anceac
id used
s with the cove-
a,
nants in the original lease or leases, and on the line of frontage
shown upon the plans sanctioned by Parliament, such land
containing with the foreshore enclosed and reclaimed by the
aforesaid sea or wharf walls, and including the site of such
the enclosed foreshore, so far as such rights exist al having
walls, about 103.000 square yards, the rights of the Crown in
been granted under parliamentary sanction to the lessees for
the term of their lease or leases, with reversion to the Corpo-
ration as owners of the reversion to the adjoining lands so
leased. The company paying a fine certain for the renewal of
the term expired of the original lease or leases and certain
other charges, including the taxed costs of the arbitration ix
respect of the value of the reversion, and further covenanting
that they would abandon all future attempts to obtain that
reversion.
Having obtained this new lease as above stated, the com-
pany continued to struggle on; but their only further opera-
tions in the prosecution of their scheme appear to have been
the erection of three stacks of warehouses, on the most eas-
terly portion of their land, with some adjoining sheds upon
the wharf and the railways connecting the same with the
railway-station and the western portion of their land ; and
thus matters remained nearly in state quo until (the com-
pany's means being t otally exhausted) 1851.
In pursuing the consideration of the question before your
committee, namely, the reversionary interests of the Corpora-
tion iu this estate, it must be borne in mind, as an important
element, that other works than their own- required to be exe-
cuted, that would have an important bearing upon the pros-
perity of the Birkenhead Dock Company. Had their own
means enabled them to complete to the utmost extent
their own works, their ultimate success would still be depen-
dent upon the completion of what were called the outer works
and the deepening of the pool, to' afford that access to the
company's lands and property, without which that property,
however complete, would be comparatively valuelesS.
These outer works were in the hands of the then Birkenhead
Dock trustees, who, with about eight acts of Parliament and
great parliamentary influence, were in a state of utter collapse'
for like want of funds. Ind these two bodies, after having
expended about one and three quarter millions of money,
without much profit or success, found themselves under the
necessity of selling to the Corporation the whole of their seve-
ral interests and properties for the sum of £1,143,000, or
13s. 4d. in the pound of which sum the Birkenhead Dock
Company's share was £751,537.
The subsequent history of Birkenhead and its docks is well
known. The property so purchased by the Corporation in
1855 was, by authority of Parliament in 1857, transferred to
the then newly constituted body styled " The Mersey Docks
and Harbour Board," the transfer being
of such interests, and
such only, as the Corporation had acquired from the trustees
of the Birkenhead docks and the Birkenhead Dock Company
respectively, and for the stuns respectively paid by the Corpo-
ration to those bodies. •
In' the interim period between the purchase and subsequent
transfer of these properties, the Corporation commenced such
works as were in their power—viz., the deepening of the pooh
the inoneyS expended by them therein being by parliamentary
enactment to be recouped by the Mersey Dock Board, and
Parliament having at length sanctioned, in 1858, the improved
plans for the outer works, designed under the directions of
the Mersey Docks and Harbour Board. The execution of those
works is proceeding rapidly. Birkenhead is becomingsa great
fact, and thenigh some years may be required to develop its
resources,d even
an the rg
re
ne
na
tn
sbnen
ebeusts little doubt of its ultimate progres-
sionßoth these forts and prospects for their consideration, but

. ,
g if
without the advantage of being able to look throu sta
of the next 63 years, the Corporation is asked to consider eft
propriety of selling the reversionary interest of this great
estate. The Council, without expressing any opinion as to the
fitness of the dine of the s de of such an important property.
having sanctioned the principle of making such sale, referred
the matter to the Finance Committee under the direction of
fclut sitlaecirriinttteel I have given the most earnest censide-
falai( td the Stibiectl air beg to offer a few remarks as to what
would hale deignWO ntion of such a question.
pirst; the land Was dfighiallv purchased in lot 43,
noting that in their calculations go fdreYeae is rtride to that
portion of the land leafied to anti subsequently
acquired by the Trus'tees of, the Birkenhead DockS: RON" filiwt-
big part ot the prnperty of ,the.Mewey Docks and Herhaifir
Board, and the revision to which will have to be dealt with in
connection with the larger property tindeF.discussion.
The cost price on that year (1913) of the land leased to the
Birkenhead Company in 1848 was abdvit 2240,900; nnt,leis ;
and, supposing that the mean period of five Yearl Were required
to bring the property to a state of promotiveness, the cost or •
value of the land, adding interest of 5 per cent., would be
about £305,312, and, adding a like sum for the buildings to be
erected thereon, in terms of the Municipal Act, the total
expenditure in land and buildings would be £610,612; and,
supposing no great scheme to have been ventilated for the
fatiire,of this prdoerty, and that both buyer and seller of the
refersion -Were Milling to consider the present value as the
only plenient on the calcination. The tilde on present money
of the reVergion fro' such a pirdperft A tit full end of 75 fears
wound he,.tit 3 per,.cent:, drid tilis gin% had It lien
paid-in • 1843,, woUld pow. =lnuit; at t tient: dorapdund
iutefest, to nearly S130,00(1; and; fel3Ote(ii,tlit th'i§
calculation containS Do element of increase devoid' from pros-
pective improvement. . ,
Secondly,—When the Birkerilledfi Dock Cmpany„at.the end
of 1845. gave notice to acquire the reverglon tinder titre Powers
of their Act of Parliament;
It must be borne in mind that at this time a most magrliff-
_ .

' cent scheme was propounded for the development of this pro-
, party, a copy of which I have now before me. This was the
scheme of the promoters of the undertaking, of those gentle-
men who were seeking to possess themselves of the reversion
and, therefore, the Corporation and their witnesses had foil
rights to adopt it, for the purpose of estimating the present
thhie Of their future interest in so extensive a property; they
did 60 tide it; and tile tesnit seas an estimated value for the
revergioli etpectant at the and cif 13 years!, amounting to
Z2gfl.oQo, Or therealioutg.
.The drbitratore made an awa.)..d faidtir df the CarpdratiOn,
as beforek stated, pf..E1D3,600, prfnclple,,dr data it is,
not for me to; divine,. certainly not upon any ,evidengprofftieed
before them •, probably their faith pi the future Birkenhead.
Was ndt Ad trong as that of the prompters of the undertaking;
but although the edrid_Clona docks,,•thm extensiye warehouses,
the magnificent sampling rooms, th:. timber quays ,and canals,
had, with the evidence produced before them, alike vanished
from their remembrance, they, doubting the future, and giving
the promoters the Nil benefit of that doubt, reduced the esti-
mated value of the property at the end of the term from
upwards of £2,400,000, as given in evidence, to about one mil-
lion, which would he about the capital sum due at the end of
13 years, anticipated in present money at 3 per cent., by the
POtnerit ofthe £113,000 awarded.
But Whatever the principle pursued by the arbitrators, that
sum of 411,000 so awarded, ircsilfileicnt as I believe it was, if
vie Wed in corineetidn With the data thiettcled by the plans of
tilik,eip_dirupatif,, kn .d.r, the evidence the.
,tiedyeed_thereffetn, oven
a' sutat pi+ Table rit the (bite of the award., would kiniotlnt,
at fodr. per cent. intirdst, td k2lloioOol.
Corning down to the present period, Nt'e find the dk7l—leittion
again renewed for the sale of the reversion, but under iihich
altered circumstances. New life has been infused into every-
thing around this property, and although the grand ideas of
11andel, in the shape of several docks, with bonded ware-
bouscs, fraivit,4hyds,
,and their accessories, may have dis-
dhpellred, ti•-•41104-Ine stiattzeniaias,:intact. The land in its
*1194 giten ft rtishni, 114047drig Fcps•Ablt.l,7, great float
'water,
been deepened,. and now nearly red, y. rOeilee the
water, and-thus render available soniething p three tht•iinatid
yards lineal of quay, space ; while the outer works; ennSttueted
up plans. plans of much greater, magnitude than those origindllY
nrojeited,lare :uncier powerful guidance ".The Mersey.
ire_ Harbour making :emit ProgreSs towarAq
cdrity etionl and AK rgilways time eagerly. seeking' for eqM7
m veences to enable mtO Ovonottodate tie anticipated
traffic. Everything, in fact, bespeak 6 reedi-ery front Collapse
;and decay, and justifies the assumption that a belief in die
increasing value of this property, in the minds of the present
'promoters, is one e the chief motives for urging them now to
seek for possession of the reversion thereto.
The Corporation are not the movers in the proposed nego-
tiations, and if not urged thereto by the Dock Board would,
in all probability, desire to wait at least for some five years for
the result of the operations.
lii conchision, looking at all the past and present eircum-
starieesi and the eotiree which etents have followed and are
ndw felloWing.at Bitkerthead, it is hut reasonable to believe in
file pregtessitelY.:ine;tising
.value of ,thjs prdperty; and to
asearrld • that by tie time the lease 411aVid p3pire ttiat value
would be very far 'beyond itkift a,;t the
present moment, when much that ninet •lidve en important
bearing upon it is now in embryo, and all circumstances con-
nected with it is in transition; in fact, I am of opinion it
would be difficult now to estimate correctly the future value,
sat at the 'end of the next 63 years.
the narrow VICA'A of the arbitrators of 1845 certainly could
Rot rloW lie entertained by nay nos conversant with the rapid
ettideg byirgkicii property in places like Liverpool increases in
• value, /ilk:. lab c;ittli it May bp adirtitted that inn ch which
inc eased the cations:tea, feVilete'c ,Aforo tho arbitrators has
now disappeared, yet enough exists fad Sultifya. belief in the
great value of the reversion, and that it must be e4im'aled far
beyond the award of the arbitrators, if not to the eaten. tVe
valuations tendered to those gentlemen, such valuations being,
of course, corrected for the greater period lapsed in the lease
or leases of the property.
I venture to think that an alteration might be suggested in
lieu of the sale at present of the reversion, an alteration which
would place all parties in a fair position, without the proba-
bility of injustice being inflicted on either side, It being always
understood that the Corporation are entitled, whenever called
'upon, Id Sell tothe full vain • in present money of the property
at the Ovid of tlitt all the improvements upon it.
. This ,iiltefahotl, if ildohlted, ifotild be to
,renew the time
`expired on the leasds at a, Nit' Valtiation under
preient eircurtistaneen, the Merse# toafd tiridertokieredat to
acute to obtain the revcirsion Until an ding period had elapsed,
say• twelve 4ears, and then the Value to he settled by
tratidit , .; „ „ . . • ;
In tight tithe we plight e'Peet the future of liirOn'eeid to be
far advanced, at least, to lie 11 mash pearer maturity kir better,
or worse, and justice would be obtained inini facts; and not
from draughts on the imagination.
I think a course like this could scarcely be objected to tly
either party, except from an apprehension that delay would
injuriously affect tae result to the side objecting; and such
objecti in, I am of opinion, would never be off•red by the Cor-
poration.---I remain, Mr. Chairman' and gentleman, your most
obedient servant,
Live pool, /Cat August, itdo. JOHN WEIOUTIVAN.
The committee having had this report under considera-
tion, had rpsAYed to report to the Council that 500,321
:would be a right price to ehairgli for the property,
4ut co& oiAln 6;td3i-E•: „
The folldwing is the fepdit ds td the diode df dealifig
with the annual income :

The Ctouneil, at' the monthly meeting; on the Ist of August
last, having taken into consideration the report of this com-
mittee on the powers, duties, and obligations of the Council,
in reference to the property of the Corporation, adopted the
•
following resolution :---

•
• Resolved,---That as the report of the Finance Committee on
the poWers, duties, and obligations of the Council in reference
;td the pro Potty the Corporation, and the income thereof,
and to time thereof' by sale in fee or on lease, or on
the renewal of leases, and the. Etaplicittion 0f,,5111 proceeds of
such sales, leases, and renewals involves very nripoiltant.cqn•
siderations affecting the management of the Corporate estale;
.especially in regard to the, uncertainty, which may arise,as to
the annual income derivable therefrom, it be referred to the
llnance committee tp consider and report wlfat course the
Connell should, pursue under the circumstances; in order to
°Math the.difficulties which,may ariSe•frpin that uncertainty.'
dberlieUen to this resolution, the finance committee have
t now to epifiti-. •
I. That as to the proceedsfroM almi°l4te sale of
any part of the property of the Corporataot Ouch grweeds
.must be invested, subject to the approval of the Lords Cem-
missioners of the Treasury, a.nd the annual income derived
from such investments is payable to the borough fund.
The principal difficulty in the consideration of this impor-
tant question arises in reference to the proceeds from leases.
AS :Aloft ill the former report, the amount received in each
year is subject td gtetft ductitations. In some years, in which
sales of property which has fallen into ppssesilon occur, the'
amount is very, Jarge;and in other yeiirg, vflias tliere are no
such sales. and the fines received are those 'Kenn the dritiriatY
renewals of leases directed by time Council at each monthly
meeting, the amount, is comparatiVely Sinai/. The Codneil
may thus be in• the position, of not being , able, to ascertain its
etc-Amble income in,.any one .year there ipight.be a!
Very tiiegt stirnitil4 Over .Ohltgaory. expenditiFC, and jn
nett Sikh a deficiene;y as td Make t'Poroulch rate necessary.
The attention of your committee has eelf difeeted
measures calculated to avoid the state of things, which wdtild
manifestly occasion the greatest possible difficulty in the
management of the affairs of the borough.
The actual state of the receipt and expenditure of the Cor-
,poration carnet be correctly known until the accounts are
made up, after the 31st August in each year, on which day,
underthe'llunicipal Act, the accounts of the year must be
closed. All statements up to that period arc estimates only.
In preparing the annual estimate of the probable income
and ekpenditure of time Corporation it was the practice of late
3'e to Ott the proeccAs of Icapttig,
La t., Jear,.the .aetual ,d';erage. froln .this source ,ddring the
la 4n,dialso • dnring the, whole period. since
,f4;e
liaising Of the Municipal Act, was tiacertaineCto Ve426,00,
which sum was, therefore, etimeted as income from that
source. • ~, 41 ,
In order to avoid the serious consequenCeb `hie44
result from uncertainty of incethe, involving an immense
,plus one year, and perhaps a borough rate the next, the pru-
dent course would be to pay to the Borough Fund, in each
year, the ascertained average from the proceeds of leases, COT-
; reeling such average at stated periods, ainuilstsiopri:isie7a-eccoouutn,tl
the surplus a fund for the purpose of adjng
in efferyyear„on the principle of the reserve fund of a gas or
atgrcuppd,ntoillich is kept up to a certain amount in order
equalise calise tht di,idendsof compny.
Thus the Council would m each Ted!. He_ th:.exact sum
applicable to the porough fund troni leasing, a the
other items of ine.oine, which are nearly the same m " •er7
year, would be enabled to adjust their expenditure, sd Its to
avoid levying a borough rate, which, in the event
.i-of a defi-
ciency of income to meet expenditifre, would be miperiftive
upon theni to do: •
i*ii Till tIiERIf. OF THE
•

PEACE.
Alderman J. BRAMLEY-MOORE said before going into
the discussion of the proceedings of the Finance Com-
mittee, he regretted exceedingly that he should have to
occupy the attention of the Council with regard to a
matter personal to himself, more especially when there
were such important matters to come under the discus-
sion of the Council. It would be recollected that at the
last meeting he had made a statement in that room
respecting the Clerk of the Peace, and that statement
he made without comments of his own, simply narrating
the, facts. , In consequence of that the Clerk of the Peace
had tiublished st letter in the pnriers, arid he thought it
due not only to himself but respectful to the Council that
it should be noticed,—otherwise an impression would
go abroad that there was great jobbery practised in the
Council. He was charged in the letter not only with
attempting to induce a gentleman to withdraw his
claims and pretensions to an office, but he Was also
charged there with endeavouring to persuade him to
withdraw in favour of his friend Mr. Lloyd for that
office I! and also the graver charge of promising to
provide him with a situation of £BOO a year. He
was not aware that such a situation would be
in the power of any member of the Council to hold
horses out of. It was, therefore, scarcely necessary to
go into it; still, the world at large did not know, and
so it became necessary that it should have a contra-
diction. Mr. Moore here read the extract from Mr.
Wright's letter, which he complained of, and which has
already been prominently published in our columns,
and then said the Council would see that Mr. Wright
did not positively assert that such a conversation took
place, but.left the world to infer that it did, by asking
him (Mr. Moore) did he recollect the morning of his
appointment, and did he recollect his answer. Now, he
had to assure the Council, and he did so in the most
solemn manner, that he never had a conversation with
Mr. Peter Wright on the subject of the Clerk of the
Peace, of a private nature, in his life (hear)—that it was
a pure invention and fabrication—that there was not
one atom of truth in it, and not the slightest foundation
for such a statement. (Hear, hear.) He should not
for a moment have ventured to occupy the time of the
Council on 'a matter personal to himself, but he felt it
due to the Council that he should explain the matter,
and give a contradiction to the story as put forth. He
had always had a kindly feelingto Mr. Wright, but
deemed it right to give that public contradiction to
what he had said.
Alderman J. B. LLOYD said his name had been
brought forward in the letter of the clerk of the peace,
in reference to what Mr. Bramley-Moore stated in the
Council. He could only distinctly state that he was no
opponent of Mr. Wright; but, at the particular request
of Sir Thomas Braneker and Mr. James Aspinall, he
had proposed him in that room. He had never asked
him to retire, and he regretted that his name should
have been brought forward in such a way.
Mr. STEWART then moved the first recommendation,
for the increase of the salaries of Edward Fitzgerald
and John Andrews. Although these gentlemen were
described as clerks in the Town-clerk's department,
they were actually under Mr. Walters, the prosecuting
solicitor ; and gentlemen were aware that by an
arrangement entered into with the Treasury on the
subject of the costs of prosecution, the salaries of these
officers would now be repaid.
Alderman gOOPER seconded the motion.
Mr. JEFFERY opposed the recommendation,—not, he
said, with reference to the individuals proposed, but they
were about to have a revision of the salaries of the whole
staff of the Corporation in each department ; and he
thought if they were to have that revision, they had
better have it before they attempted to advance salaries.
It might be that those gentlemen were competent to fill
higher duties, and he had no doubt ample justice would
be done; but he objected decidedly that they should ad-