The Press.
London, England, 1858-03-20 00:00:00

Tilt 1311ESS, MARCH 20, 1858.

done of electors and representatives ; the Sovereign
and his title, the Royal family, councils, duties, pre-
rogative, and revenue. The succeeding chapter, on
Courts of Justice, contains a passage in which the
difference between law and equity—a question often
asked and not always answered—is very clearly
stated. After showing, with Blackstone, that the
difference does not oonsisteither in" abatement of the
"rigour of the common law," or in "adhering to the
" spirit as opposed to the letter," or " in acting on
" the opinion of the judge," he thus proceeds :

Such, then, being the parity of law and reason, which
govern both species of courts, " why should the relief af-
forded in the one differ from the redress obtainable in the
other? To which question there is, in truth, no answer ;
except that so it has been from the first, and so it is. To
instance the case of waste, which is a spoil and destruction
of the estate (as by cutting down timber, or pulling down
a house), committed by him who is in possession, to the
injury of the person entitled to the reversion of the pro-
perty. For this the law awards redress in the shape of
damages ; but this redress is evidently nut a complete
remedy, for the reversioner is entitled to have the property,
with all its advantages, and not merely damages for the loss
of them. The chancellor in early times, therefore, inter-
fered, and the courts, on the precedent, now constantly do,
to prevent the waste from being committed. And so, in
the case of a breech of contract ; a court of equity will com-
pel a party specifically to perform his agreement, whereas
courts of law in general can only give damages for the
breach of it. Briefly, courts of equity prevent wrongs,
courts of law redress them when committed ; a distinction
as to the mode of relief, which will be found to exist with
respect to almost all those civil injuries of which the courts
of law and the courts of equity take a concurrent cog-
nisance."

" Again, in the courts of common law there are pre-
seribed forms of proceedings, derived from the original
writs issued from chancery, which constituted the founda-
tion of the jurisdiction, and to these a party must confine
himself. In the action itself a general and unqualified
judgment only can be given, for the plaintiff or for the de-
fendant, without any adaptation of it to particular circum-
stances. But courts of equity are not so restrained.
Although they have prescribed forms of proceeding, the
latter are flexible, and may be suited to the different cir•
camstancee of different oases. They may adjust their de.
crees, and thereby vary, qualify, restrain, and model the
remedy, so as to suit it to mutual and adverse claims, con-
trolling equities, and the real and substantial rights of the
parties. Nay, more ; the) can bring before them all parties
interested in the suliject matter, and adjust the rights of
all, however numerous ; whereas courts of common law are
compelled to limit their inquiry to the exact question be-
tween the parties in the litigation before them, although
other parsons may have the deepest interest in the event
of the suit.

To this succeeds an account of the Magistracy,
Clergy, Nobility, and Commonalty, and the Military
system. The latter part is occupied with what are
usually called " Rights in Private Relations"—i.e.,
those of master and servant, husband and wife,
parent and child, and guardian and ward. To the
chapter on Master and Servant Mr. Kerr has added
several pages on the relation of principal and agent,
a point too cursorily treated by some previous editors ;
and to the concluding chapter, on Corporations, is
appended some information, especially useful at the
present time, on the subject of trading companies.
We had formerly occasion to commend Mr. Kerr's
edition of the whole of Blackstone, and though, of
all the editors, we are of opinion that Sergeant
Stephen has adopted the most scientific arrange-
ment, we have no objection on that account to offer
to the present selection, which seems well calculated
to be popular, and to answer the purpose for which
it has been compiled.

The Shareholder's Legal Guide. By T. H. Mark.
ham, M.A. London : Robertson.
THE dedication of this volume will sufficiently ex-
plain its aim. The work is small, but it is complete,
and in its nineteen chapters the shareholder in a
public company will learn the exact extent of his
liabilities, while persons desirous of irmesting their
capital in public companies are enabled at a glance
to ascertain the responsibilities they are liable to
incur.—

The Legislature (remarks Mr. Markham) has, it is sub-
mitted, in regulating the liabilities of shareholders in
different classes of companies, acted wisely in refusing to
confer exemptions on shareholders, save in exchange for
some corresponding benefit to the public. Thus railway,
dock, canal, gas, waterworks, cemeteries, and market com-
panies, are very frequently a benefit to the public, and if
persons can be found to subscribe funds for the construc•
tion of such companies, the Legislature, in return for the
benefit which the public must derive from their establish-
ment generally, confers upon their shareholders limited
liability. Whereas in the case of companies formed to
carry on, say a distillery, or to sell groceries, the object is
not one by any means necessarily for the benefit of the
public, and no sound or politic reason exists why the five
hundred distillers or the five hundred grocers should not
be equally liable with the one distiller and the one grocer;
they take the profits and should bear the losses ; and their
object and its results are not even incidentally to benefit
the public, but to fill their own pockets ; but whether this
reason be accepted or not, it is an undoubted fact, that in
some companies the shareholders are not liable beyond

their unpaid calls, whereas in others they are liable for all
the debts of the concern.

Those companies, then, in whicha shareholder may
invest with comparative sectirity, on the ground that he
Can lose no more than his share, are, amongst others,
railway, waterworks, gas, canal, dock, drainage, and other
like societies, of a nature to 'serve the public at large.
Such companies are for the most part subject to an Act of
Parliament, which became law thirteen years ago, and
which provides that the shareholders shall be made
liable to the creditors of the company to the extent of their
shares only.

The book is written for laymen, not for lawyers. In
style it is simple and comprehensive, and the
author in his remarks exhibits a thorough acquaint-
ance with the state of the law as affecting public
companies.

PUBLICATIONS RECEIVED.-MARCH 19.
BOOKS.

The Most Holy Book of Psalms' Literally Rendered ion()
English Verse, according to the Prayer•book Version. lty
Edgar Alfred Rouring. J. W. Parker and Son.
The Nature and Purpose of God. Second Part.

Blackwood and Son,
Memoirs of the Early Italian Painters. By Mrs. Jameson,
John Murray.
Letters from Spain in 1856 and 18:57. By John Leycester
Adolphus, MA. John Murray,
Cream. By Charles Reads, Author of " White Lies," dtc.
Trubner and Co.

PAMPHLETS.

The Commercial Crisis of 1837; its Cilium—Report to the
Registrar• General on the International Statistical Congreu,
held at Vienna in 18,57.—The Future Government of haul.
By Major M. H. Court, M.R.A.S. Allen and Son—A See.
mon for the Times. By the Rev. W. Brock, M.A. Hatchard.

The Comprehensive History of England. Part VII. and
VIII. BLit:lie and Son.

HEE Bre.tEsnes TaisAnut.—.Signor Giuglini, we
regret to say, was so seriously unwell last night as
to be unable to appear in the part assigned to him
in Zingara, the opera he selected for his benefit. The
Figlia del Reggiwento was substituted at very short
notice. 'ehe house was very fully attended, and
great sympathy was expressed for the indisposition
of Signor Giuglini, who, we trust, will shortly be
restored to perfect health.

fitelltg pad anD ttitgLivia

FRIDAY EVENING.
THE return of the Bank of England for the week
ending Wednesday last, the 17th inst., shows the
following changes compared with that for the week
preceding :

Decrease in Circulation
Increase in Public Deposits
Decrease in Other Deposits
Decrease in Government'Securities 457
Decrease in Other Securities
Increase in Bullion
Increase in Rest 1,6,92
Increase in Reserve
Bullion in both Departments
Circulation, including Bank Post
Bills

This comparison presents the same general features
that have marked the returns now for a number of
weeks, namely, a continuous increase in the stock of
bullion and in the reserve of notes. The Private
Securities also continue to fall off, but less Ibis week
than in some preceding weeks ; and it may be ex-
pected that this item will not descend much below
its present amount. The bullion is within a fraction
of 18,000,0001., while the unemployed notes exceed
12,300,0001. With such a state of things it is clear
that if the rate of discount is not reduced next week
it will be because the Directors are of opinion that
even a two-and-a-half per cent. rate would fail to
stimulate the active employment of capital to anY
important additional extent.
There is still comparatively little demand for
capital, though the internal trade of the country Is
certainly reviving. It is reviving, however, appa-
rently only to meet current wants. Stocks are cer-
tainly not increasing. In connection with this fact
may be taken the stationary character of our foreign
commerce at the present moment. From these two
causes alone, apart from any considerations of the
extension of commercial confidence, the existing
dulness of mercantile speculation has arisen.; and
its natural consequence is extreme inactivity in the
Money Market. It is difficult to place any large
amount of capital in unexceptionable bills, because
transactions which such bills would represent aro
comparatively limited, and there is no disposition to
encourage any but the most legitimate enterprise!.
Under these circumstances, the Money blazket ts
shout the same as last week, but, if anything, with a
somewhat better demand on account of the home
trade. Rates remain at two and a quarter to two

and a half per cent., and the Bank minimum
of three per cent. is maintained. It is pro-
bable, however, as intimated above, that it will
be reduced next Thursday to two and a half
per cent., as the position of the Bank and the
circumstances of the market would amply justify
such a measure. In the course of the week the
Bank Directors have given notice that they will not
rediscount bills for the brokers, :though they will
make advances upon them for short periods, such as
a fortnight. This determination has been taken at
a time of all others the most proper, for in the exist-
ing state of things it can cause no inconvenience
whatever, either to the brokers or to the public, while
in periods of pressure it will prevent the former from
going beyond their real means in supplying accom-
modation. In other words, the administration of the
Money Market will be sounder; for the brokers, in-
stead of relying as hitherto upon rediscounts at the
Bank, when they find they have trenched too much
upon their reserves, will be obliged to pull up. And
in periods of commercial activity it will have a ten-
dency to discourage unwholesome speculation. In
fact, the step will put a limit upon Lombard-street
beyond which it cannot go. In this respect the
trader who prudently restricts his operations within
his means will have a protection against reckless
competition. We anticipate that in such periods the
Bank policy will be exposed to violent attacks from
those with whose interests it will interfere. The
public, however, will not suffer by it, but rather be
gainers.
The specie movements of the week have been im-
portant. The arrivals include large amounts from
Australia, the United States, South America, and the
West Indies ; amounting altogether to 1,300,0001.,
within a fraction. Of this sum about 300,0001. has
gone aboad, including 106,0001., for India and China,
and the Bank has taken at least an equal amount.
There consequently remains about 700,0001. upon
the market. A portion of this will be absorbed by
the Continent, but the greater part will probably be
sent into the Bank. A further large amount is
expected from Australia by the mail steamer Simla,
due at Suez on the 25th.

The Continental Exchanges are, on the whole,
rather firmer than last week.

Public Securities have not materially altered from
last week, though the market has had to contend
against the adverse influence of a reduced business
consequent upon the indisposition of the public
either to buy or to speculate. This indisposition
appears to have arisen from an impression that the
East Indian loan of 8,000,0001. is to be immediately
raised, and from an indefinable mistrust of the state
of things in France, not merely political but com-
mercial. The Bears have made the most of these sort
of sensations ; but they have invariably been followed
by a reaction. Railway shares have sustained rather
a serious decline. The traffics are nearly uniformly
low, some to an amount sufficient to affect the divi-
dends for the current half-year, and there has con-
sequently been a good deal of bona-fide selling.
This market is still unsettled.

Consols, which closed last Friday at 96i to 97,
improved to 97} to upon the assurances given in
Parliament that the misconceptions and misunder-
standings with France had been wholly removed.
Subsequently rumours which would imply a con•
tinuance of difficulties were set afloat ; and the con.
sequence was a decline to 961 to I, the lowest point
of the week. Yesterday trey closed at 96t to ;
this morning they opened at the same, and after a
dull day, closed at 961 exactly.
Foreign Stocks have in general been very quiet,
and there has been comparatively little movement in
any of them.

hallway Shares have averaged a fall of from two
to three per cent., the lines running through the
busiest districts of the country having suffered most
from the diminished receipts for the transit of mer-
chandise. Some of those in the north have been
partially blocked up with snow, while the South-
Eastern and the Brighton lines have suffered in their
passenger traffic from the restrictions imposed upon
the passport system having deterred both tourists
and traders from repairing to the Continent through
the French ports. To-day the downward movement
was continued to the extent of from one-half to
three-quarters per cent., but before the close there
was a partial rally.
Joint-stock Banking and Miscellaneous Shares
have not materially changed since our last.
The half-yearly court of the proprietors of Bank
Stock was held on Thursday, when the dividend de-
clared was at the rate of five and a half per cent. for
the half year, free of income tax, being at the rate
of eleven per cent. per annum. The profits for the
past six months were 808,294/. ; and, after payment
of dividend, the Rest will stand at 3,048,0941.
A suspension in the River Plate Trade is re-
ported at Liverpool, with liabilities to the amount of
200,0001.
The Provincial Trade Reports show some im-
provement, and there is a promise of greater
activity in most branches of business. Cotton and
several other raw materials have declined in price.

BENSON'S WATCHES
"Excellence of design and perfection of workmanship."—
Morning Chronicle.
"The qualities of his manufacture stand second to none."—
Morning Advertiser.
" All that can be desired in finish, taste, and design."—Globe.
" The Watches here exhibited surpass those of any other
English manufacturer."—Observer.
Those who cannot personally inspect this extensive and costly
stock, should send two stamps for "Benson's Illustrated
Pamphlet," containing important information requisite in the
purchase of a Watch, and from which they can select with the
greatest certainty the one adapted to their use. Silver Watches,
from 2 to 50 Guineas—Gold Watches, from 81. 15s. to 100
Guineas. Every Watch warranted and sent post paid to any part
of England, Scotland, Ireland, or Wales, upon receipt of a re•
mittance. Merchants, Shipper°, and Watch Clubs supplied.—
Watches Exchanged or Repaired.—Manufactory, 33 and 34,
Ludgate Hill, London, E.C.—Eetablished 170. be.=

285

INAUGURATION.-ST. JAMES'S HALL,
REGENT STREET and PICCADILLY. THURSDAY
NEXT—The OPENING of the NEW HALL will be celebrated
by TWO GRAND MUSICAL PERFORMANCES, in aid of the
Funds of the MIDDLESEX HOSPITAL, on Thursday Evening
next, the 25th March, and on Saturday Evening the 27th March,
1858, under the Special Patronage of Her Most Gracious Majesty
the Queen, His Royal Highness the Prince Consort, KG.,
H.R.H. the Duchess of Kent, H.R.H. the Duchess of Cambridge,
H.R.H. the Duke of Cambridge, K.G., H.R.H. the Princess
Mary of Cambridge, and also His Grace the Duke of Northum-
berland, KAI., the President of the Middlesex Hospital.
The following distinguished Artistes have been engaged for
the occasion:—Madame Ruderadorff, Madame Weise, kiss Stab-
bach, Madame Sherrington Lemmens, Madame Borchardt, Miss
Dolby, and Miss Arabella Goddard ; Signor Luchesi, Mr. Mon-
tem Smith, Mr. Lockey, Mr. Weiss, Mr.[Stuitley, Mr. Thomas.
Herr Deck, Signor Piatti, Herr Molique, the Vocal Associa-
tion (consoiting of SOO voices), and full Orchestra.
Organist, Mr. George Cooper ; Conductor, Mr. Benedict.
The Programmes now ready,
Area Stalls, One Guinea; Reserved Seats, Area and Balcony,
Half-a-Guinea ; Unreserved Seats in the ♦rea and Balcony, Five
Shillings; Upper Gallery, Half-a-Crown—to be obtained at
Messrs. Cramer, Beale, and Co., Regent-street; Messrs. Chap-
pell's and Messrs. Leader and Cock's, New Bond-street; Mit-
chell's Royal Library, 83, Old Bond-street; Masers. Keith and
Prowee. 4d, Cheapaide ; from the Secretary, at the Hospital ;
and at the Egyptian Hall, Piccadilly.

UR. ALBERT SMITH'S MONT BLANC,
la NAPLES, POMPEII, and VESUVIUS, EVERY NIGHT
(except Saturday), at Eight, and Tuesday, Thursday, and Satur-
day Afternoons, at Three.
Places can be secured at the Box-office, Egyptian Hall, daily
between Eleven and Four, without any extra charge.

THE HORSE FAIR, by Mdlle. ROSA
BONHEUR (the Engraved Picture), and Morning in the
Highlands, her last production ; Ewe Homo, by Ary Scheffer;
The Chess Players, by Meissonier; and the t'ortr sit of Wile.
Rosa Bonheur, by Ed. Dubufe, are now EXHIBITING by
Messrs. I.EOGATT, HAYWARD, and LEGGATF, at their
NEW CITY GALLERY, 19, Change alley. Entrance by the
side of 28, Cornhill, leading to Garraway's. Also a choice
Collection of about 200 Pictures by the most eminent Masters
of the English and French Schools Open from Ten a.m. to
biz p.m. Admission, Is.; catalogues, 6d.—N.B. After dusk the
gallery is brilliantly lighted by the patent sun-burners.

THE AMERICAN HORSE-TAMER.-Mr.
RAREY has returned from Paris, and will commence
teaching his subscribers in classes, on Monday 29th March,
Tuesday 90th, Widassday $ 1 at, Thursday Ist April, Friday 2nd,
and resume sites the Later Holidays, on Monday 12th
Tuesday 19th, W 14th, and Thursday 15th, at the Duke
of Wellington's Private ding School, Knightsbridge (kindly
lent by his Grace), at 11 am. each day. A Circular will inform
each Subscriber of the days allotted to him, and dna notice will
be given of future appointments.
Tattersall's, Grosvenor•place, March 17, 1858.

INDIA OUTFITS.—THRESHER and
°LENNY (next door to Somerset House, Strand) manatee-
thre the following Articles expressly for India :—Thresher'•
Kashmir Flannel Shirta—Thresher's Military Shirts—Thresher's
India Gauze Waistcoats Thresher's India Tweed Suits
Thresher's Overland Trunk. N.B. Lists of Prices, with panic*.
lars of the necessary Outfit for India, may be had on application .

USLER'S CRYSTAL GLASS CHANDE-
LIERS for GAS and OANDLES.—A great variety of this
newest and richest designs always on view; also a large assort-
ment of glass lustres, decanters, wine glasses, dessert services
and every description of table glass at very moderate prices.
ORNAMENTAL GLASS of the newest at d most beautiful de-
scription. Export and furnishing orders executed with despatch.
—44, Oxford-street. Manufactory, Broad-street, Birmingham.,
Established 1807.

BEDSTEADS, BATHS, AND LAMPS.
WILLIAM S. BURTON has SIX LARGE SHOW-
ROOMS devoted exclusively to the Separate Display of Lamps,
Baths, and Metallic Bedsteads. The stock of each is at ones
the largest, newest, and most varied ever submitted to the
public, and marked at prices proportionate with those that have
tended to make his establishment the most distinguished in this
country.
Bedsteads from Hs 6d to 20101 each
Shower-baths from
Lamps (Moderateur) from . 6s Od to 71 7s each
(All other kinds at the same rate.)
Pure Colza Oil 4s 4d per gallon
VENDERS, STOVES, and FIRE IRONS.
.11: Buyers of the above are requested, before finally deciding,
to visit WILLIAM S. BURTON'S SHOW-ROOMS. They
contain such an assortment of Fenders, Stoves, Ranges,
Fire Irons, and General Ironmongery, as cannot be approached
elsewhere, either for variety, novelty, beauty of design, or exqui-
siteness of workmanship. Bright Stoves, with bronzed orna-
mentaand two sets of bare, 41. 14s. tol3/.135.; ditto, with ormolu
ornaments and two sets of bars, 51. ss. to 331. :Os.; Bronzed
Fenders, with standards, from is. to 51. 12s. ; Steel Fenders
from 21. 15s. to 11l.; ditto, with hall ormolu ornaments, from
21.155. to 181. ; Fire-irons, from 18.9 d. the set to 41.45.
The BURTON and all other PATENT STOVES, with ra-
diating hearth plates.

GASELIERS in GLASS or METAL.—The
increased and increasing use of gas in private houses has
induced WILLIAM S. BURTON to collect from the various ma-
nufacturers in metal and glass all that is sew and choice In
Brackets, Pendants, and Chandeliers, adapted to offices, pas-
sages and dwelling-rooms, as well as to have some designed ex-
pressly for him; these are ON SHOW over his SIXTEEN
LARGE ROOMS, and present, for novelty, variety, and purity of
taste, an unequalled assortment. They are marked in plain
figures, at prices proportionate with those which have tended to
make his Establishment the largest and most remarkable in tibia
kingdom—viz,. from 12s. 6d. (two-light) to 161. 16s.

WILLIAM S. BURTON'S GENERAL FUR-
!I NISHING IRONMONGERY CATALOGUE may be bad
gratis, and free by post. It contains upwards of 400 Illustra-
tions of his illimited Stock of Electro and Sheffield Plate, Nickel
Silver and Britannia Metal Goods, Dish Covers and Hot.
water Dishes, Stoves, Fenders, Marble Mantelpieces, Kitchen
Ranges, Lamps, Gaseliers, Tea Urns and Kt Wee, Tea Trays,
Clocks, Table Cutlery, Baths and Toilet Ware, Turnery, Iron and
Brass Bedsteads, Bedding, Bed Hangings, ao do., with Lists of
Prices, and Plans of the Sixteen large Ohow Rooms at 38,
Oxford.street, W.; I, la, 2, and 8, Newmait-stintet; and 4, 6$
and 6, Perry's-place, London, Eatabllaked 1429.