The Express.
London, England, 1851-01-29 00:00:00

THE EXPRESS, WEDNESDAY .EVENING, JANUARY 29,, pu._

zued it was on his perfect comprehension of Spanish cha-
racter and morals that the enterprise was . _
*.ijin
11 dulling pewspeotnel weakened lefranga
ef doeforsetad coon% of membeii el parlia-
tracters„. presided, peer by Mr. W. MAD-
wici erly, iris sa.d, 4 builder, and moved by a
esiaear forum, Colonel BTOPFORD. It proposed
the% 80,000 'hares should be antigned to Ragland,
and 40,000 to Spain. On the former a deposit of
106,0001. was quickly paid in this sober City of Lou-
don ; on the latter only some 8,0001. could be raised in
gay and lively and speculative Madrid. Neverthelrea
Mr. W. riedes and the Colonel perse-
vered. The concession was obtained front the
Spanish goversusent ; a caution of 17,0001. was depo-
sited fix the due fulfilment of the undertaking ' • but
the line was never sarveyed ; the enterprise was ahan-
doped ; Mr. CHADWICK and the Colonel quarrelled,
without being able, like Peaelsern and Loekst, to make
matters up again • Dr. MCCANN, with the character-
istic caution of his country, advertised and gszetted
himself out of the concern, as soon as he saw 'meeker.
a-head ; other directors quietly attemp•ed to drop all
connexion with the affair; Mr. CHADWICK alone
stuck to the funds; now removing them from this
banker, and then placing them to that account; at
one time lending them to the South Western Rail-
way, at another taking are of them himself.
In the midst of the confusion and turmoil of
wrecked companies in 1847, whilst Cotters were
engaged in getting back what balances they could
from their deposits in other companies, the Madrid
and Valencia would appear to have escaped attention.
At last, however, Mr. DANIEL WHITTLE HARVEY,
eager in the chaos after railway directors, pounced
upon it ; he demanded accounts ; he required
a statement ; he insisted on a return. Mr.
CHADWICK, it would appear, refusing the former, con-
sented to negotiate about the latter. Mr. HARVEY is
known to be a close shaver in such affairs ; be found
his match in Mr. CHADWICK. After prolonged dis-
cussion, after check and counter-check, they approxi-
mated ; they only differed about Is. a share in
the amount to be paid to Mr. HARVEY; that differ.
epos was apparently yielding, when Chancery inter•
posed, and left Mr. Cnseiwlcx master of the field for
a little time longer.
It was but a short triumph ; the Winding-
up Act was passed_i a fatal petition was presented
and referred to Master BLUNT ; Mr. CHADWICK
took ill; recovering a little, he has gone in
the maturity of his life to enlarge his experi-
ence of men and manners by foreign travel; leaving
behind him the mysteries of the Madrid and Valencia
Railway bubble to be unravelled as best they can
without books, without money, and without his
pointing out the leading threads of the knot to be un-
tied. The books have gone, the funds have gone, he
has gone; the shareholders and his colleagues are,
' like Lord Ullin on the loss of his daughter, " lett
lamenting."
We are wrong; all the funds are not gone; the
17,0001. paid the Spanish government as caution
money, that government, notwiihstaadieg its ill re-
pute in money matters, has returned; it is the differ-
, enoe between 106,0001. and 17,0001., vie., 89,0001.,
that has disappeared, and fur which there is nothing
to show.

This difference the official assignee, representing
the original shareholders, charges against Mr. CHAD-
wiCieB Colleagues in the direction, requiring them to ac-
count for it. And thus at present the matter stands
before Master BLUNT, Under Mr. CHADWICK'S

autocracy 89,0001. have been dissipated in some way
or other. Are they, who allowed Mr. CHADWICK to
exercise absolute authority over that enormous sum,
to be responsible for his dealings with it? That is
the question ; and a very pretty question it is. But
until it is resolved by Master BLUNT, farther remark
may u well be suspended.