The Express.
London, England, 1851-11-29 00:00:00

LOCAL SHARE MARKETS.

Livzstroot., Nov. 23.—The market is not quite so good
to-day, and we have less business generally doing. 'rho
following arc the transactions.—Blackburn (late Black-
burn, Clitheroe, and W. Yorkshire), 44—Caledunian
A :—Eastern Counties, 7 1-16—Lancashire and Yorkshire
(filth shares), 8 d.—Lancashire and Carlisle (third shares),
91 p.—Liverpool, Crosby, and Southport, 2 d.—London and
North Western, 117—Ditto (new
,1 shares), 31 1 p.—Man-
chester, Sheffield, and Lincoln, 34—Midland, li6) c. 74 A
.57 c. 1761 7 61 I—South Eastern and Dover, 211 4—York,
Newcastle and Berwick, 191—Ditto (extension Na. 1 and
2), 6 A.—York and North Midland, 221—Dutch Rhenish,
411-16 d.

MANCHESTER, Nov. 28.—We have again had a busy
and excited share market, but not quite so much brainless
as yesterday. The sales include Blackburn B. Pref., 171;
Bristol and Exeter, 79; Caledonian, 161, 1 ; East Lanca-
shire, 15! ; Edinburgh and Glasgow, 271 ; Sheffield, 331,
311; Midland, 661; in Buyers there was an exceedingly
large business at 211 WI.
BIRMINGHAM, Nov. al—This market opened firmly, but
elysed a shade weaker. Coventry and Nuueatons ware
done at 24 prem.; London and North Western Quarters at
31, 3 7-16 prem.; Shrewsbury and Birmiiiiihatit A's at 61
per share ; Shropshire Unions at 31. Bs. 9d. dis.; and South
Statfords, at 21 din.
LEEDS, Nov. 25.—There has been less activity in tho
share market this monolog than yesterday, and quotations
have also given way to ,acme extent. The following wero
the closing sales : Ambergate, Nottingham, and Boston,
3 tlis.; Caledonians, 161 ; Midland Stock, 661 ; Man-
chester, Sheffield, and Lincolnshire, 31, 331; York,
Newcastle, and Berwick, 191; York and North Midland,
23 ; North Western, 12' dies. ; Leeds Northern, 11 ; Leeds
Northern Extensions, No. 3, 1 dis.

NORTH OP ENGLAND JOINT STOCK BANKING
COMPANY.—Yv.terd.ty, a meeting of the contributories was
held before Master Ferrer, who had announced that ho
would " proceed to make is call on certain contributories,
representing in the ae4regate 3,717 sluices, and upon whom
tan previous calls have been made." The report of the
official managers states that the company was formed
in 1832, with a nominal capital of 2,000,0001., in
20,000 shares of 100/. each, but the paid-up capital
amounted to only 310,95.51., on 18,008 shares. The prin-
cipal losses arose from unfortunate speculations in ad-
ValICeS of money to persons engaged in the corn trade, and
,the company was eventually brought to a stoppage in
March, 1617, with liabilities to the extent of 1.481,4501., of
which 1,001,9171. was upon bills rediscounted, and the
minimum deficiency to be met by the proprietary, 141,4931.
New directors were :ippointed, but the limited call of dl. per
share was found to be totally inadequate for the outstanding
liabilities ; but by means of informal loans from Oro share-
holders, the liabilities were on Sept. 30th, 1814, reduced to
315,3541., exclusive of 206,993/. standing to the credit of
the shareholders who advanced money. In Nov., 1818,
on the petition of the directors, the company was re-
ferred for winding-up to Master Farrcr, "and the powers
thus obtained have been found to be of the greatest
service, and the official managers, indeed, are
satisfied that it has been only by availing themselves
of these powers that they have been able to prevent
the ruin of every remaining solvent shareholder in the
company." Two calls of 391. and 201. per share have al-
ready been declared, and the official managers had to collect
these from 422 individuals, and assets from at least 210
&Adore, and to deal with and satisfy or pacify 760 creditors.
The amount of liabilities on September 30, 1851, was (ex-
clusive of several contingencies) 70,1901., of which, how-
ever, only 48,527/. is due to third parties. The assets are
still valued at 49,3011., and which sum the official managers
think will ultimately be realised, but the utmost amount
that can be realised in cash during the next twelve months
they estimate at 13,5.19!. As the forbearance of creditors
can be no longer relied upon, they ask theta sum of 35,1001.
be raised by a call of 151. per share, and these two amounts
they estimate will enable them to pay off the claimaof third
parties. The only further liabilities will consist of sums
which will still remain due to shareholders for loans not
absorbed by the payment of their calls, and the legal and
other expenses, attending the winding up of the company.
These will necemarily be large, but the official managers
trust that the outstanding assets which still remain in
hand, and the arrears of the two former calls, and of such
portion of the present one as may not be received during
the ensuing twelve months, will produce en amount which
may fairly relied on as sufficient to meet these and any
other contingencies which may arise in the ultimate closing
of the accounts of the concern. Their duty has been to
effect the payment of an immense amount of liabilities, and
but for the comparatively summary remedies created ky the
Winding-up Act, the task could not have been accomplished.
Mr. Field, for the official managers, said that the sum of
7,0001. for interest would be saved by the making of the
call, and several of the contributories present acquiesced in
the propriety of the act. An objection was taken that pro-
per exertioas had not been used to collect the arrears of
former cells; but the Master said he entertained a very dif-
ferent opinion; and, after passing an effiogium upon the
conduct of the official mansuers, ordered a call of 141. per
share, payable on January 10, to be declared.