The Press.
London, England, 1857-05-16 00:00:00

3 rtlanE

Mn. JAMES SADLEIR has written a letter from
Paris, in reply to a recent letter of Mr. Scully upon
the Tipperary Bank. Mr. Sadleir says :
I never owJil the bank or any bank a shilling, but always
had a considerable sum to my credit in the Tipperary
Joint-stock Bank, and during the run 3,0001. due to me,
which I might have drawn out, or even after Mr. John
Sadleir's death. I never had any connection, directly or
indirectly, with any one of the numerous speculations Mr.
John Sadleir appears to have been mixed up in, or any
other speculation. Front the moment I discovered in
London, late in 1835, the extent of the land transactions
he was mixed up in, and railways in England, France,
Germany, Sweden, Switzerland, and Italy, I denounced
him in the strongest language I could for having allowed
himself under any circumstances to be engaged in so
many undertakings, though I had the strongest assurance
from himself and some of his friends that large and im-
mediate payments were to come to him from each under-
taking; and I have got the sums, in a return given to me,
that were to come from each. From nil the information
could collect a short time before his death, from himself
and some of his friends, I was fully satisfied the worst
was over, and that he was fast getting out of the temporary
difficulties he had got into, and that he would have a con-
siderable surplus after paying all debts that I had any
knowledge of.
I beg to state I never hail anything to say to Mr. Vin-
cent Scully, directly or indirectly, as. to his shares, nor did
I ever owe him sixpence ; nor did I hear a word of his
agreement with Mr. John Sadleir and Mr. Keating till
Mr. Keating showed me the document in London a con-
siderable tine after it was executed. I also beg to state I
never read any one clause in the new bank deed got up in
IS-12—never saw it in the hank or elsewhere since I signed
it in IS-42. I then stated most distinctly I would not
continue to be responsible for the working of the bank
alone if extended, but that I would assist to the best of my
ability if other competent persons were appointed to act
with me, but that I would not continue to give my whole
amid entire time to it as I did the three years previous
to 1812.
The Evening Post contrasts these denials with the
bank report of February, 1850, published and signed
by Mr. James Sadleir, and in which lie declares a
dividend of six per cent., a bonus of three per cent.,
and announces the reserve fund to amount to
17,375/. 123. 7d., at a moment when he knew the
bank to be in a state of hopeless insolvency.

FROM THE LONDON GAZETTE.
Tuesday, May 12.
BANKRUPTCY ANNULLED.—ALEXANDER DALnYmTLE,II,
Lime-street. City, merchant.
BANKRUPTS.SPECIEL Monicz, 7. Coleman-street City,
importer of loreign and fancy goods—JONATII 01 CRUSE, Knit-
bury, near Ilungerforul, 13erks, builder—RICHARD GALE,
Skirtnett, liarubledou, Bucks, grocer—CASTLE BUANOWIN, the
Blackheath-road, Greenwich, grocer and tea dealer—
MAnY HUDDLESTON and THOMAS HUDDLESTON, Berners-street,
Oxford-street, cabinetmakers—JAmns MAY, 127, Goswell-street,
Clerkenwell, linen draper—WILLIAM ORGAN, Walsall, Stafford-
shire, saddler—SAMUEL ARMSON, Wulbrook Coseley, Sedgley,
. .

Staffordshire, builder-SAMUELSTAIDIER, Wolverhampton, shoe
manufacturer—JOHN BARN r. 13, Dorchester, dealer—lNlT.l,lAm
LEARE., Lane, Holum, Almondbury, Yorkshire, cattle dealer—
CROW"I'HER and WILLIAIit CROWTHER, Huddersfield,
curriers—HENßY HARRISON, blletneld, taiIor—NEPTUNE SEAL
and rlollN SEAL Denton I ancashire hat manufacturers—

WILLIAM JONES, Caruarvon, slate and coal merchant.
seorlli SEQUESTITATIONs.—Joum TURNBULL and Co.,
Edinburgh, woollen warehousemen—ALEXANDEß STRACIIAN,
Arlary.sawmilla. Kinross•shire, wood merchant —JAmics Fait-
onsom. Glasgow, grain and prevision merchant—Davin
Tticatsox, Miluathort, Orwell, Kinross shire, cabinetmaker.
Friday, May 15.

BANKRUPTCY ANNULI,EI).—JawEa BASTE and Somum(
I,mm Savage-garden 4, Tower hill, City, wine merchants.
BAN h s.—IiENRY ROBERTSON, SL
Corulnli, commission agent—GEonoe COCKBURN HYDE, South-
parade. Chelsea, surgeon—BENJAMIN CANTZR, York, cloth
merchant-mil N %1,1 EarsrisTLE, Bury, Lancaster, tailor—
GEOROE TILLEY, Walton-on-Thames. brewer—Jammu N. KNAPP,
Newport, shipowner-oEolloz °lrma, Hart.street, Grosvenot-
acptare, ironmonger—HENßY ITIMEY Cox, Shalford, Essex,
gromr—SAMUEI. TANSLEY CUNDY, Helgrave.wharf, Pimlico,
statuary and stone mason--Ana tiv.m klii.nr.a and JAMES
MILNES the younger, Oldham. cotton spinners—Jonn OwErt,
and N% ILLIAM HENRY BOON, Birmingham, silversmiths—WY.
THIIII,IION, Over Darwen, Lancaphire. power loom manufacturer
—JAMES STAMPS. Handsworth, and WILLIAM FINCH, lien.,
Tipton. Ktufforilehlre, paper make's.
BCO ICH sEQUE-ItATIONS.--Joirs'.—xfASTEß, Glasgow,
drapt•r—.AMEN WOOD, Edinburgh, merchant—CllAP.LES ANDER-
SON, Arbroath, mama • m er.

VICE-ADMIRAL LORD RADSTOCK, C. 8., died at his
town residence, 26, Portland-place, on Monday
morning, sbortly before nine o'clock.

THE HON. COLONEL. HENRY SUTTON FATE, died
last Fri Atty morning at Lady Georgiana Fane's resi-
dence in Upper Brook-street, Grosvenor-square.
JASPER CHASSEAUD, Esq., late British Vice. Consul
at Tyre, United States' Consul-General for Sy' ia and
Palestine, Consul to H.M. of Prussia, H.M. of
Russia, H.M. of Sweden and Norway, H,M. of
Naples, died at Beyrom, on the 22nd ult. Mr.
Chasseaud was well known to Eastern travellers forhis
generous hospitality.
H.M.S. Exmouth, 00, upon making the Lizard on
Tuesday morning in a dense fog, en route home from
Lisbon, ran ashore about three miles to the north-
ward. Fortunately the tog lifted in time to put the
helm down ; but as she rounded to, she bumped
over the rocks, starting one of her boilers, and
knocking off some of her forefoot. Happily she
tell off into deep water, and got safely into Plymouth
the next day.

THE PRESS.

Putg Vadat nab Citg 3ntelligente.

FRIDAY EVENING.
THE return of the Bank of England for the week ending
the 9th inst., shows the following changes compared with
that for the week preceding:—
Decrease in Circulation X410,964
Decrease in Public Deposits
Increase in Other Deposits ..
Decrease in Government Securities 996,383
Increase in Other Securities 219,531
Increase in Bullion
Increase in Rest
Increase in Reserve
Bullion in Both Departments
Circulation, including ltank Post
Bills
The Bullion is gradually increasing. and we expect that in
the next return it will amount to 10,000,0001. The
Reserve shows a very satisfactory enlargement, while Ile
addition to the Private Securities, which indicates the
commercial demand for money, is not so considerable as
might have been expected. The Private Securities now
amount to 18,630,3371., being nearly 3,000,0001. less than
the corresponding item in the monthly account of the
Bank of France, which was published this morning. The
large falling off in the Public Deposits is ascribable to the
redemption, which commenced on the Bth instant, of Mr.
Gladstone's series of C. Exchequer Bonds, amounting to
2,000,0001. To meet the demand tints created, as well as
that for discounts and advances, the Bank was rather a
large seller of stock, consequently the Government Secu-
rities show a falling off. On the whole the return is of a
favourable character, inasmuch as it shows that the posi-
tion of the Bank in respect to its means of assisting com-
merce is becoming stronger, while the indications of a
pressure for money are not particularly striking.
Although there has been less general pressure upon the
Money Market in the present week than in the last, there
has been no abatement in the terms of the discount
houses and joint-stock banks. Considered simply with
reference to the actual demand, the market has improved,
for it has had fewer applications, while the expectation of
enhanced rates which prevailed during a part of lust week
have enlarged the supplies. At the Bank itself the demand,
though good, has been moderate, and it is said that the
bulk of the paper sent in has been direct from merchants
—in other words, that the brokers of Lombard•street have
not been borrowers. So far, therefore, some degree of
improvement may be reported ; and it may be added that
anticipated large arrivals of Australian and Californian
gold, with a diminishing demand for silver and the better
aspect of the Continental Exchanges, have further contri-
buted to improve the temper and disposition of the market.
But, on the other hand, trade is less active, which par.
tially accounts for an appreciable falling off in the number
of commercial acceptances from the country, while rates
on the whole are as firm as ever, note ithstanding the
reduced demand and more liberal supplies. This is an
anomalous feature in the market, only to be explained by
the assumption that matters are not yet sufficiently settled
in the opinion of the leading establishments to justify
them in departing from the existing onerous terms. How•
ever, there is an improvement, as we have said, and
relaxation cannot be delayed if, as we believe, the position 1,
of the Bank is gradually strengthening up to a point which,
unless some unforeseen interruption occurs, will shortly
enable it to fix the minimum rate at six per cent. Indeed,
vague reports were in circulation yesterday that a change
in this direction might immediately be expected ; but they
are premature, for the Directors will naturally endeavour
to consolidate the advantages of the improvement 1.17 W
apparent before influencing the market by a reduction in
the rates. We rather think that the initiative in accepting
lower terms will have to come from Lombard-street. On
the Stock Exchange the supply of money generally has
been good. In the early part of the week six per cent.
was about the average rate, but yesterday, owing to the
settlement in Railway and Foreign Stocks, it advanced to
eight per cent. To-day there was a good demand in the
general market at full rates ; but in the Stock Exchange
there was extreme pressure, and in some cases ten per
cent. was paid for loans. The demand arose principally
from the public having sold large amounts of stock for
money.
The arrivals of specie this week have been under
200,0001., about two-thirds of which has been retained in
this country. It is estimated that rather more than
1,000,0001. of Australian gold is now upon its passage to
this country, while 400,t)001. is coming from St. Petersburg
and about 80,0001. from Constantinople. These supplies
will, with the present moderate demand from the Conti-
nent, remain with us to a great extent. The Bank has,
during the present week, made purchases to the extent of
about 180,0001., and it is still buying. Silver has fallen
fd. in price, and the market is heavy at the reduced
price, as the supplies are good and the inquiry for India
and China is not at present very active.
The Continental and American Exchanges continue to
improve. Gold can now be sent from the United States
with profit.
English Securities of all descriptions have improved
since our last, in some cases to the event of one per cent.
Some railway shares have resisted the advancing tendency,
owing in all probability to the temporary difficulties
created by the settlement, but in general all have derived
some degree of benefit.
Consols, which left off last Friday at 94 to 1 for the 4th
of June, closed yesterday at 94i to I—the highest price
of the week. They have never since Monday been lower
than P4l. A very fair amount of business has been done,
including some rather large large sales of money stock..
To-day they opened at 041 to I), but the demand for money
caused them to recede one quarter, and tbey left off, ofti-
cially, at 941 to j. After regular hours they rallied to 941
just.
' Exchequer Bills have been daily purchased by the Go.

SAttIRDAY,

vernment broker on account of the savings-banks, at the
rate of 30,0001. per diem. So that since last Friday
1811,0001. have been bought. The quotations consequently
have improved.
The ltailway Settlement has interfered with business in
shares, and for a time they were heavy, not responding to
the improvement in Consols; but yesterday all descrip-
tions were firm, and in some a considerable advance was
realised. Today some descriptions fell one half per cent.,
and all were lower in sympathy with Consols.

In the Foreign Market the most prominent feature has
been a marked advance in Turkish Six per Cents. Merl-
cans have been rather flat. '.l'o•day the market was dull,
and Turks were one quarter per cent. lower, closing at 94/
to 951.
In Joint•stock Banking Shares a fair business has been
done. Egypts have improved about five-eighths per cent., and
are steady. Some chaLges have been made in the direction,
the effects of which are expected to be highly satisfactory.
Mining and Miscellaneous Stocks have presented no
features worth special notice.
The shares in the Atlantic Telegraph Company have
declined to 50/. to 201. dis. The amount paid is 4001.
Two commercial failures have been announced during
the week—one, that of Messrs. Barker and Co., of South.
wark, for 70,0001. ; and the other that of Messrs. Edward
Hanibro and Co., general merchants. The liabilities are
considerable in the latter case. The failure is also an-
nounced of a member of the Liverpool Stock Exchange.
The first meeting of the Unity Mutual Banking Com-
pany was held on Monday, Mr. Sheriff Mechi in the chair,
when, after some discussion, the report and accounts
were unanimously adopted. Interest at the rate of three
per cent. was declared on the payments made on shares to
the Ist May, 1850. The preliminary expenses were the
subject of some strong remarks.
The propositions of the French Government regarding
the renewal and modification of the charter of the Bank
of France have been officially published. The charter is
to be prolonged till 1897, and the capital is to be doubled
by the issue of one new share of I,ooofr. for every
share at present held. The issuing price is to be 1.100 fr.,
of which I,ooofr. is to go to capital, and 1001 r. to the
reserve fund. The additional sums thus raised will,
therefore, amount to 100,375,00:)fr. Of this amount
100,000,000 fr. are to be advenced to the Government
against Three•per•Cent. Rentes, which are to be taken by
the Bank at the price of 75fr. The Bank are to make ad-
voices on the debentures of the Credit Foncier, as well as
on lientes and railway securities, and to add a charge for
commission to their rate for discounts and advances. It
is also contemplated that the Bank shall increase its ad-
vances to the Treasury from 55,000,000 fr. to 80,0.41,000 fr.
against bonds at three months' date, such bonds not to
bear interest except whenever they exceed the deposits of
the Government held by the Bank.
Mr. Tire and Mr. Philip Anstruther have been
appointed chairman and deputy chairman of the Bank of
Egypt.
The new committee of the House of Commons on the
Bank Charter Act has been appointed, and it will com-
mence its sittings forthwith.
. .

The prcspectus has been issued of the Mediterranean
Extension Telegraph, with a capital of 120,000/., in 101.
shares, and a guarantee from the English Government of
six per cent for twenty five years. The object is to carry
the line, which has been already laid, to Sardinia, to Malta,
and Corfu, where a communication will ultimately be
effected with the Euphrates line to Tndia. The length
will be 700 nautical miles; and it will Le completed by
October next.

Messrs. Coutts and Co. have notified their willingness to
allow interest on any large sums Ileposited with them fur
fixed periods. This is an assimilation to the practice of
the joint-stock banks. Other private banks are expected
to take a similar course. _

_ .... _
The National Provincial Bank of England have declared
a dividend at the rate of eight per cent per annum, together
with a bonus of ten per cent.
True bills have been found by the grand jury nt the
Central Criminal Court against the parties charged with
conspiring to injure and defame the Bank of London.
l'he indictment. has since been removed by certiorari into
the Court of Queen's Bench, where the trial will take
place.
Mr. Commissioner Holroyd has directed that official
copies of the examinations under the bankruptcy of the
Royal Br;tish Bank shall be transmitted to the Attorney
General with a view to the institution of criminal proceed-
ings against the directors of that nefarious concern. The
learned commissioner expressed his conviction that a pro-
secution could be sustained.

The Provincial Trade Reports read rather better this
week.

A CASE OF PERFORMING IN THE DARK occurred a
few nights since at the Central-hall, Darlington.
Mr. and ➢frs. Howard Paul were giving their enter-
tainment, " Patch Work," when in the midst of the
performance the lights suddenly went out, and the
ball was enveloped in total darkness. A variety of
efforts were made to relight the gas, but in vain.
Here was a dilemma. The performances were only
half over, and the audience grew impatient. At
length Mr. Howard Paul came forward and said,
" What are we to do? Shall we proceed in the dark?
(Loud cries of " Yes, yes," from all parts of the
hall.) If you cannot see us, you can hear, and we
will introduce as many songs as possible, and dismiss
as much of what appeals to the eye as is practicable
at such short notice." The performance then pro-
ceeded, and the audience, amused at the novelty of
the occurrence, applauded everything that was said
and sung, in the most vociferous manner. At the
conclusion they groped their way out of the building
the best way they could.

THE BANK OF FRANCE.

THE Monthly Debtor and Creditor Account of the
Bank of France was published in the Moniteur of
yesterday morning. Mr. W. Avens, stock and share
broker, of Tokenhouse-yard, in his circular of
yesterday, says :
The changes shown by it, upon a comparison with the
return for the previous month, are not of a very important
character. The most prominent among them is the fact
that the demand for money has been sufficiently active to
compel the Bank to enlarge its commercial discounts and
its advances on securities to the extent of nearly 800,0001.
But, on the other hand, private depositors have increased
their balances, while those of the public are considerably
heavier; so that, notwithstanding the pressure from trade,
the Bank has found no difficulty in providing for the de-
mand. The Private Securities now amount to 21,313,3821.,
independent of Rentes, bullion, and shares, being the
highest amount of the year, so far. Compared with the
previous return of April 10, the following are the principal
changes in the position of the establishment during the
month, expressed in English currency at an exchange of
twenty-five francs to the pound sterling:—
Decrease in Circulation ..
Increase in Public Deposits
Increase in Other Deposits
Increase in Commercial Discounts

6705

Decrease in Bullion
Increase in Advances on Bullion
Increase in Advances on Public
Securities

29,576

Decrease in Advances on Railway
Securities
_

Increase in Premiums on Purchase of
Gold and Silver

9,954

Circulation (May 14)
Stock of Bullion (May 14)
The whole advances made by the Bank are shown com•
paratively in the following table :
Commercial Discounts
Advances on Bullion ..
„ Public Securities
„ Railway „

MAY. APRIL
.. £21,313,382 £20,753,733
133,352 102,892
1,210,705 1,181,129
752,842 783,778

Total .. £23,410,281 £22,821,532
Deduct .. 22,821,532

Increase in May ..

£558,740

On the whole, the return is not unsatisfactory, for, like
all that have preceded it in the present year, it is calcu-
lated to satisfy the public with the general administration
of the Bank during a critical period. The premiums paid
on gold and silver purchases during the current half•year
now amount to 67,3001.