The Express.
London, England, 1855-12-15 00:00:00

RAILWAY ACCIDENTS.

Yesterday morning a person of the name of Wm. Barker.
residing at Hackney. wu found Wag on the railway pass-
ing over Bridge-street, Hackney. The body was in a fright-
fully mutilated state. He was last seen alive about eight
o'clock the previous 'using, near the Adam asd Bre,
Romerton. The deceased, who was 64 years of age, is be-
lieved to have been knocked down by the engine of one of
Northns passing from the Camden town Station of the
Waiters Railway to the Blackwell terminus.
On the morning of Thursday last, the porter at Antler
station had been opening the sues upon a level crossing to
allow a horse and cart to pass. A return engine then
coming up the Line ran into the cart, smashing it and the
gate to stems, and burying the poor porter among the
debris. The driver and the horse had just passed the has of
rails on which the seeme was rooming, and had a most mi-
raculous escape, the body of the cart being carried away and
smashed in a thousand pieces, while the shafts remained
attached to the horse, whisk mode cff with them dangling at
Ms heals. Dr. Low* was in attendance, and the porter
was conveyed to his own home, where he lies is a most pre-
carious state.—Perthshire Gbetrfer•

GEOGRAPHICAL UNDERTAKINGS IN RUSSIA.

The Astronomical Society's Monthly Notice for
November entabis a letter from the Russian astronomer,
M. Otto Struve, to Kr. Airey,—which, it seems, the Russian
Government hes allowed to pass, though directed to London.
Perhaps the Oswalt (says the Atheneum) was permitted in
favour of the followiag information, intended to hint to as
bow toeless it is to keep up war with the Czar. After
noting that 6,000 miles and more of galvanic wires have
been reliantly sot up, M. Otto Struve proceeds as follows :
" It is really remarkable, that the war until now has not
exercised the lust influence on the progress of any scien-
tific pursuit for which the support of Government is wanted.
On the contrary, the energy elicited by the state of war is
one principal direction has given rise, also, to a develop-
ment of energy in many other respects. This will be proved
in part by • short enaneratimi of the principal geographical
undertakings, in the arrangement or erection of which we
had to take • part this year. Trot, started from here •
aumeroos party, under the direction of M. Schwan, foe
the exploration of Beaten Siberia; another party woe sent
to the Steppe of the Kirghis ; a third, under the personal
director of Mu, bad to Az the exact geogrephical posi-
tions of • large *umber of points situated ia or near the
Ural Mountains, to form a base ler the construction of an
enact topographicOl asp of the vast districts of mines in
that part of Russia; a fourth expedition, provided with
forty chronometers, has to loin, first, Moscow with Sara-
tow ; and, then, this latter town with Astrachan ; and,
finally, the great trigonometrical operations la the soothers
part of Ramis, and in the Traaseaucatia• provisoes, are
carried out without the lust laterroption."

The Australian man-of-war screw steam sloop
Victoria Us gone into dock at S outhampton, ia wee-
gears of some dormer, doss to her rudders end mew.
Two steam packet oompanitu have sent in tenders
to the goveranwat for the conveyance of the Cape of Clhe •
usd
Hoes 'walk Oae of the ecoipecies who hays sent
amass is the Glesssellitrew Stoma Packet Cooping. •
The Chowringhee. an emigrant ship, which left
Basked with Australian emigrants in July l
imosas spoken
with cm the 4th et September, about 900 fromthe
Cape M 0301 lisp.

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LONAOII.
,11,ATUBDAY, DECEMBER 15.

The eismatien. smi "nine days' wonder" occa-
sioned by the esnekdon and sentenos of the three
beakers, Sir J. D. PAUL, and Moors. SLIUHAN and
BATED, are rapidly sanding. In those drys;, hew.
ever, when a perilously lax teas of temiseelel ate.
malty seems to be insidiously creeping Into the allemb
and even insinuating itself into high circles, it sham
us that there are still sone points in the history ef
this ill-fated banking hoses from which a valuable
moral may be gathered. Oa Tuesday last the pro-
ceedings in the Coat et Bankruptcy were of emu-
sun interest, the antecedent and meat position of
the defunct firm being subjected to an elaborate die-
motion. When we manioc that the aggregate lia-
bilities of the bank meant to the enormous sum of
8.52,6931., and the estimated assets to only 127,6701.,
leering a deficiency of no lees than 624,9224, it
will be acknowledged that this failure is lifted
oat of the catalogue of ordinary mum-
Mal casualties, and the question at ones arises, How
amid a bank, if conducted upon anything like sound
principles, sink funds to this frightful extent P The
question is one of general interest, and to supply an
answer we may usefully draw upon the researches
made by Mr. Tuannamn, the accountant to the an-
signets. According to the popular idea, a Bank is
understood to signify an inatitutioa with considerable
available capital, conducted and owned by respon-
sible parties, and aimed in a attain well-defined
description of business. The idea of a bank alto-
gether without capital,-in a stets of virtual insol-
vency, and yet propped up for years solely by making
an undue use of the deposits confided to it by cas-
taway, would probably be hastily seated by most
persons u too monstrously absurd to be entertained
for a moment. Yet this was in reality the position of
LINE bank of Messrs. STRAHAN, PAUL, and Co.
More than this : the partners were actu-
ally debtors to the bank to a very considerable
extent for money borrowed. In 1813, the partners
in the bank consisted of Rosen Sxow, WILLIAM
BANDBT, and JOHN DIAN PAUL. These three
gentlemen, at the death of Mr. liannv in 1818, owed
the bank a sum of 29,0001. The debt of Mr. SANDDY,
amounting to 8,9801., was paid oQ by his arecators
by the end of the year 1828; but at that period the
eau due by the remaining partners hid Mermen to
63,8004, which was apportioned thus—via., RODUT
SNOW, 36,3191. 10c. 9d., and the late Sir J. D. PAUL,
17,2801.95. 3d. This debt, it is explained, was re-
presented by a joint note of the two—by aa arrange-
ment between themselves, and acquiesced in by sae-
ending partners. The amount was to be considered
as a debt due to the bank, to be gradually liquidated
by a certain portion being carried every year to profit
and loss. By this means, at the death of the late Bir
J. D. Pant, the amount had been reduced to 28,6004,
and at the date of the bankruptcy bad been further
reduced to the um of 23,6001.
The balsam-sheet now filed commeuessea the 31st
Dec., 1861, at which time there was an acted defi-
ciency of assets compared with liabilities of no lees
than 86,6424 Of this sum, 28,5001. sonsisted of the
balance due to the bank on the partners' joint note,
and 23,3921. formed the alum of debt due to the
institution by the late Sir J. D. PAOL. A very re-
makable state of things is certainly here develops&
A bank, one of the oldest on record, is shown to be
carrying on bonuses, and maintaining a fair name
before the world, although it was not merely desti-
tute of capital, but had permanently made advances
to this heavy extent to the partners. In other words,
the partners had been living upon the deposits. Bat
even this does not represent in naked truth the also
pidated financial state of the macaw In theideese•
sheet to the 31st Dec., 1851, exhibilks dile 16101061*
cieney of 66,8421., there is one um lasieded la the'
waste at its full amount, the alba value of which
was very problematical. This ilea mists of a sum
of 92,0011, taken as due free Lodi Naarrx. Be-
tween the years 1848 and 1860 large advances had
been made to Lord MosTTN; and in January, 1860,
• leas of the property known as the Mostya Colliery
wee panted by his lordship to the bank, to sense a
sum of 67,5411. then due by him.
Apart from the inherent aasonadness of the bank's
position, as already indicated, its connexion with this
colliery scheme seems to have occasioned its BEM
serious involvement. The colliery required very cow&
&treble outlay to bring it into a productive condition,
and a further sum of upwards of 45,0001. was thee ow
pended by the bank. With this expenditure, and
arrears of interest, the amount to the debit of the
meant at the time of the bankruptcy had rises le
139,9401. At this date the colliery had just bees
brought into a productive state, yielding, how
ever, only sufficient to cover ertpurneo and
to pay interest on a sum of 46,00014 white
the bank had been compelled to borrow en the mesa
rity of the less*, to meet the necessary outlay. The
accountant to the assignees observes: " Tokio, the
amount thus borrowed as an indication of the value of
the asset, the deficiency of the bank woad be he-
creased to ant 110,0001.' It is tree that at this
period the private property of the partners, which
wee of course liable for the debt. of the bank, may
be regarded as virtually maintaining the firm in
a solvent position, Mr. STURM! being pommel of
unencumbered private property to the extent or
upwards of 100,0001., Sir J. D. PAUL et &bent
30.0001., and Mr. Balm of sufficient to wee bb
debt of 3,0001. to the beak. We will not asap this
fact, however, lean excuse for the monstrously aoseend
system pursued by the bank in carrying ea
illegiti-
mate business of this nature ander a heavy deficit,
which we must presume it was only able to conceal
during a long miss of years by anwarrentalli,
availing itself of depositors' funds.
But for the real explanation of the rain brought
upon the bank, and, through it, upon hundreds of
innocent families, we must look to its digestives eon-
-11•11011 with the abases of Messrs. J. H. and B. T.
(UNWELL, commencing in 1852. It might be ima-
gined that the loss sustained by the partners on their
Mostyn Colliery transactions would have deterred
them from again stepping oat of the sphere of legiti-
mate banking operations to dabble, or enable others to
dabble, in the field of @wahines. But the warning
was unbend. Money snesgh may be poet, as the
firm had already experienced to their cost, fa an
English colliery. But the purpose foe which them
beakers next made heavy advances to the Messrs.
GAM nett wan Still MOM improper, being the drainage
of the Lake Capestang, situate in the leak of
France, in conjunction with the pressentiso
certain French railway projects. When we bear in
mad the atter inability cd potties ia Ragland to *ow

piss any salient eentrol over a foreign expenditure
of this kind, we can sanely feel surprised at the
rapidity with which the advances do Messrs. ()AN-
D= increased, however mush we may winder at
the credulity displayed by timmetners if
Mak progress towards rain le Mil sketched
osoornatant's report : " Its th,
white no tangible 'id, oth iatunesd
sal gigantic di
sales were found to be in- &at condition, Stet
Messrs. gramme imagined they had no alternative
left bat to matinee their advances for the purpose of
maintaining Meseta MODELL in a position to carry
on the various bombast% the oompistion of which was
looked to as the source from whence the vast some
advanced were to be recovered." The profit to be
derived by Main. STILIMAN is these transactions
was limited to 6 per cent. interest on money ad-
vanced,* per cent. commission on all payments made
by them, and the psyneset of a debt of 1,8001., con-
sidered bad, due by Mr. J. H. CIANDELL to the bank
in 1860. In face of such moderate terms as these,
we are at a lose to ootmeive what temptation Masers.
Sraswato and Co. weld have had to embark in the
speculation to so miaow an extent. It would be
serious to inquire how fax the hope of recovering the
" bad " debt of 1,8001. led them originally to pro-
mote the views of the MOM% GANDELL. the same
weak motive inducing them afterwards to persevere
is their reckless course after their pecuniary involve-
ment had beonne more serious. The firm sum to
have lacked the moral courage implied in at once
writing off a" bad* debt, and adopting the business-
lilts course of declining any further dealings with the
defaulter.
At the date of the bankruptcy Messrs. STRATUM
sad Co. bad insanely committed themselves to ad-
vances to the Messrs. OANDELL to the extent of no
lees than 288,3821., besides having in addition made
themselves responsible for liabilities oa their account
to the further amount of 103,8701., making a total
liability of no leas than 373,2621., arising oat of
this connexion. This, be it remembered, was
in addition to the heavy withdrawal of capital—i. s.,
partial loss—in aspect of Lord MATTA debt and
of the ?deo:lye Colliery. As a matter of course, the
time arrived when the resources of the bank were no
Mager odds On meat this constant drain upon it.
haeptanens wean Om given, and other heavy
gesitlisal iYlttiea barred, for the purpose of pro-
tditdeg the secaired toads. Almost the whole of the
pi** of the bank had been pledged, and Mr.
Ilwaluaes private estate was resorted to for the same
papoose; the large sums so raised had disappeared,
Lard there was no alternative but the payment of the
aeesptanoss and other liabilities as they fell doe, or
bankruptcy. In the vain hope that the anticipated
funds would yet be forthcoming in time to avert the
impending rain, Sir J. D. PAUL and his ea
partners bad recourse to those Mesas of raising
money which have brought them to Newole. Is
perusing these details we are tempted to seiner ea
oar condemnation of the criminals' waded inns
feeling of sympathy for the mental distress whit* they
mast have endured during the growth ef theses:mbar-
rassenentok Bat when we recollect the
period during which these men preserved abL'osil:t-d
ward show, even whilst arranging their ashsiens
practices into a perfect system of deception, lenisasy
towards their offence becomes a crime spinet the
non weal.

We are desirous of drawing attention to a striking
anomaly presented by the state of the law, as illus-
trated in this remarkable case. The partners knew
well that to meet their original debt to the
bask, coupled with the loss in respect of the
Meaty. Colliery, the whole of their private fortunes
would soareely have been adequate. Well aware
of this fact, they nevertheless employed their els-
touters' deposits to this enormous extent in foreign
speculation. Yet had they stopped at this point, the
law could not have touched them criminally, so large
are the powers accorded to beaten ; but the moment
the partners adopted the fatal step of raising money
by means of the bonds and other securities deposited
with them, they became amenable to criminal penal-
ties. Wham arises so great a distinction P Had
these faithless bankers left their customers' securities
intact, announced the failure of the bank, and in-
formed their defrauded depositors that the funds
with whisk they had been entrusted had been
sunk in colliery or foreign drainage and railway
schemes, the Bankruptcy Court would have stepped
in to their relief, and shortly enabled them to walk
forth amongst their fellows absolved from all legal
liability. Whatever the law may my upon this point,
we feel bound to record our conviction that such
wrongful disposal of the funds of depositors forms as
great a moral crime as that for which the three con-
federates have been sentenced. The whole details of
Messrs. STIAII/1101 ease tend to excite a feeling of
surprise that men, virtually insolvent, should be en-
abled for so lengthened a period to impose upon
society by maintaining the semblance of high credit.
Are there any more firms, we ask—whether engaged
in banking or other business—whose foundation is
equally rotten ? Is this form of impostors more pre-
valent than most people imagine ? And is the
boasted solidity of many old-established houses la'
reality undermined by defalcations and abuses which
have grown all the ranker and more dangerous from
their very antiquity ? We trust the history of this
unfortunate banking firm will convey a wide-spread
warning. It ought to impress the public with
wholesome caution in their transactions with
homes which, however reverend in years, uni-
formly keep their financial position enshrouded
in duknms. At the same time, commends! firms,
and especially bankers, will, if they are wise, more
freely court all fair inquiries into the position of their
drain. Complete publicity in banking matters we
h►ve a right to demand, the trust reposed in these
institutions being so complete; and if the public
will refuge to place confidence in banks which
decline to face such publicity, we shall be spared
from again beholding such a spectacle of extended
ruin as hes resulted from the collapse of the firm of
Messrs. Braaten, Pew., and BAUD).

VACANCIES,

Taa CIVIL —War

AND PRONOTIO

r.Riah

hs;l;;;;>pristoel clerk in eh: Storekeeper's Departures%
des Forbes; Mr. Charles D'Oyley Forbes has be ap-
pointed dirk in the Storekeeper's Dees
at Gibraltar.
—The Board of Trade—Mr. Maluku Steam ban lama sp-
ectated • 'calor supplementary clerk. Customs —Mr.
Henry S. Perm his been appointed • clerk is the laperts
and Exports Ofilee in Loados. Mr. Jabs B. Bsysrd has
Imes oppolated as extra clerk I. the lambi sari Export
Ocoee is Leaden. Mr. Hoary Jams has bra oppaimed an
extra oink la the Imports and Exports Oast la Londe..
Mr. James Smethurst has ben appelated aa extra sleek la
the Imports and Exports Mee in London.—assumed—k
vacancy btu been crested la the oEce of Professor of Mili-
tary Surgery in the Usiversity of Edinburgh by the death
of Sir George Belling.% M.D.—belted—lL has
bees tamed is the omce of Vice Preridoet of tMeyat
Cork Institution by the death of Dr. Esiass.—Tmoomfa—

Canials Baskin- has born appointed isrveynOosoral,
sad Mr. Covent, Deputy Serveyer•Ontorel of no Colony,
is lief of Mr Robert Power, raked ton MN. sine pew
sin, an of Mr. H. C. Costa', either poftiamedw anemia
provided for.—Can of Good Hopo--16. Aradrow Wylsy
bait bees oppoiated Omioreal Sonem tor tbo Casey of
the Cope —lust ladles—Kr. C. D. Mason boo boo ap-
paloosa allator of San. Mr. G. L Mania boo Isom ap.
panted Master of Perna. Mr. N. F. Listen bee boss
&prated solleolie of Taken—auks—Mr. P. W. Way.
breaks boo boos masted panoW Asdain Calosial
fiemettay, sad dirk tone an& Mr. J. Saes boo on
appoistod mend natant is timagesislinistooybolloo,
Is lbo mew of Mr. J. Fraser, dame& Mr. IL M. Pesos
boo bees amain Oarsman* Aden dor no Oestral
Pavan via Mr. C. R. Della, fonpood.—Vieil Sasses