The Express.
London, England, 1848-02-21 00:00:00

RAILIVAY NEWS.

in whose pa/radon the articles remained until his death.
Upon the death of Earl John, a bachelor, the title end
estates attached thereto, which were settled by set of panttie-
lust passed in the reign of Philip and blery, passed to he
present earl, but the articles above-mentioned came into the
Carof the executors of Earl John as part of
enonal estate. The present bill is filed by
the executors of Earl Henry, the defendants being
the present earl and the executors of Earl John.
fur the purpose of baring their right with reference to the
above-mentioned articles ascertained and settled by the de-
al. of the court. The question is whether, upon the death
of Berl Henry, the trinkets and articles bequeathed became
the absolute property of Earl Jahn, who was tenant in tail
under the settlement of the family estates, or whether, by
virtue of the word heir-looms,the articles became attached to
those estates so as to pars to the successive earls, so far as the
law against perpetuities will permit ?-11dessre. Anderdon,
Bahia, Walker, Hominy, Humfhry, Simpson, Goodeve,
Roundell Palmer, and Fooks appeaed for the several par-
ties
_named on the record. The argument is not yet

POLICE.—SaTtAIDAV.
GUILDHALL.—CIInIOta CA6I3 or Foitosae.-71'.Ed
words, and his mother, C. Edwards,were raesamined charged
with forgery. The facts of the case have already appeared.
A few weeks since Mr. Butt had occasion to forward a bank-
poet bill for 241. on Jones Loyd and Co.. in a letter by post
to Mir Mary Ann Charley, living at No. 61, Brompton-
crement.—The male prisoner war committed fur trial. His
mother was liberated on bail.
BOW-STREET.—BMVTALITY Or A POLICEMAN.. —Mary
Howd was charged with causing an obstruction at Charing-
cross, by sweeping the crossing, and receiving alms from
pawns passing.—Policeman Gaff said that he was on duty,
sod observing the prisoner, with others, causing obstructions
by asking for and receiving money from persons coining out
of the omnibus, he attempted to dive her away, but instead
f obeying his orders, as her comanions did, she threw her-
eel(o on the pavement, pretending to taint, bet suddenly
jumping up, said she would not allow him to drag her like a
dog through the streets, and ran with her broom into Tra-
falgar-square, where, on his laying hold of her by the end of
her handkerchief, she fell down, and be tumbled over her,
by which means he wits enabled to take her into custody.—
Several respectable householders came forward, however,
end gave a very different account of the circumstance.
They stated that when the prisoner escaped into the
Kura, the complainant pursued be r for some time, and
having at length come up to her, he struck her violently
in the back of the neck with his clenched fist, and felled
her to the ground. He then took her into custody,
and she seemed to have received some injury in her hand,
which was tweeding at the time.—Mr. Jardine ordered her
to be sent to prison for three weeks, and directed that the
conduct of the policeman should be investigated in the
usual way.
WORSHIP-STREET.—DISTRES-i AND DESERTION.—
Aisne Arid, shout 16 years of age, was finally examined,
charged With having deserted a male infant, three weeks old,
which hag since become chargeable to the parties of Bethnal.
green. The child in question wa the effspnna of a journey-
man weaver in Spitalhelds' and a girl named Louisa Blewitt,
who died in giving it birth. Immediately after her decease,
the prisoher's mother, a poor widow, was induced by its
father to wean and undertake the management of the child,
and he agreed to allow her 31. a week for her services. After
the child had been under her care for three weeks, without
her being able to obtain a single farthing from the father;
notwithstanding the positive agreement he bad entered into,
the prisoner's mother proceeded with her daughter to the
hose(' of the man's ender, in the hope of meeting him
there; hut, filling to du so, they glee ed the child upon
the mat in the passage, after wrapping it carefully up, and
there left ft. It was subsequently conveyed to the union
workhouse, the authorities of whit h gave immediate direc-
tions to take the juisone T and her mother inn, custody for
its desertion ; but on reaching their house, which exhibited
every appearance of privation and wretchedness, the ser-
geant found the mother confined to her bed, and apparently'
labouring under such serious illness that be did hot feel
justified in transferring her to the station-house. The
daughter, however, was brought to this court, and remanded
upon the charge ; and the mother, having been afterwards
visited by the parish surgeon, who furnished a certificate
authorising her removal, she was conveyed to the work-
house, and placed in the sick ward, where the expired in
leas than 24 hours after her admission. Mr. Christey, the
relieving-officer of the parish, now intimated that it was the
intention of the authorities, in the first instance, to make a
signal example of the prisoner, aa no less then five eases of
child divining had occurred in the perish within the last
few weeks; but, alter the severe bereavement and suffering
the girlsfnad recently. undergone, so far from feeling disposed
to peaces d farther in the metier, they were now anxious,
with the magistrate's permission, to abandon the charge.—
Mr. Arnold expressed his approbation at tho considerate
conduct pursued by the parish under the distressing circum-
stances of the case, and ordered the prisoner to be at once
discharged.
CLEKKENWELL.—Swieentees.—A man styling him-
self " Captain J. Pude" wa.. charged with having obtained
goods under a false and fraudulent pretence. Mr.Leon,watch-
maker in Hatton-garden, stared that in Dec. last a man of the
name of Gray visited him representing that he was a com.
mercisl trader, residing at 147, Vincent square, Vauxhall-
road, and being about to start into the country in that capa-
city he considered he should not only be benefiting himself,
but witness and bi. partner, if he were entrusted with some
of their property for sale, and he gave a reference to the
prisoner, who occupied the house No. 35, Oloueester-street,
Queen-square. On the following day the accused and Gray
waited on him, and witness having, in the meantime,
ascertained that the prisoner lice d at the place mentioned,
and was reported to be a captain, and in independent cir-
cumstances, he allowed Gray to take possession of watches
and silver guard chains to the amount of 501., the accused
undertaking that they should be paid for within four
months. After this transaction he and hie par'ner were ap-
plied to by many well-dressed persons in the like manner.
one of whom having, by accident, left behind him one of the
prisoner's cards, an inquiry was instituted, and it was ascer-
tained that lee was connected with a gang of swindlers, and
that Gray had been convicted as such. This discovery in-
duced witness to take legal advice, and the prisoner was,
after much perseverance, apprehended at a beer shop in
Talbot court, Grace-church-street, sod on his being searched
several pawnbrokers' duplicates, having reference to the pro-
perty in question, wen• found about him and at his lodgings.
—Mr. Noah Bruce, jeweller and watchmaker, proved that
in September hut the prisoner swindled him out of 221. 21.
worth of goods, having pawed himself off as Henry Orwood,
of uO. Bunhill-row, S..Luke's.—The prisoner was remanded.
MARLBOROUGH-STREET.—Evaroca RIDING ON
HYDE PARK.-- F. Mou-att, Esq., of Devonshire-place,
was aummoned for riding furiously through the park in the
early part of the week.—The hon. member, in company with
two laoies, was galloping at a hard pace through the park,
notwithstanding the prohibition against the dangerous prac-
tice conspicuously displayed in several parts of the park
Mr. Mowatt said he was certainly taking a ride in the park
with hie two daughters, and the horses being rather fresh
they went at a smart pace, but not such a pace as he was
aware was not permitted, or that was dangerous to the pub-
lic. He had recently seen Earl Grey and the Chancellor en
the Exchequer riding through Rotten row st a much greater
speed, and no notice was taken of the proceeding.—Fined 10s.
and oasts.
- -

BURGLARY.— W. Smith was finally examined, charged
with having burelariously entered the louse of Mr. King
in Wells-street, Oxford-street.—Mr. King said, about six
o'clock on the morning of the 10th, he was, while in bed,
informed that the door in the passage was open, and ti at
the shop had bee n broken into. He went down stair*, and
found that thieves had been in the house the previous
night, had regaled themselves, and had rifled the parlour of
all the valuable property they could lay their hands on.
The till and about 101. in tuo..ey load been abstracted. Six-
teen silver forts, half-a-dozen • dyer spoons, a gold watch
and chain, and other articles had Leen carried off.—Poliee-
constable Jarvis, whilst on duty on the morning of the
robbery in Bishopsgate-street, saw a cab drive up, and Pet
down two persona near Petticoat-lane. He ease a silver
spoon and fork sticking out of the pocket of one of the men,
and he went up and seized both parties. One of the men
made his escape, but witness au seeded in taking the prisoner
to the station-house. In the possession of the prisoner were
several silver I On, a musical muff box, and other articles,
which were identified by Mr. King. No clue hail since
been obtained to the prisoner's companion, or to the other
part of the property, which is in value about 201.—The
prisoner was committed.
SOUTBWAItK.—At ILLICIT SIMI. DIPCOVnRIDAY TEE
INNTINCT Or A Hotesa.-li. and C Tubbs were charged with
working an illicit still. Frederick Poynter, an officer if the
excise, stated that on the preceding otte moon he took • man
in custody on London-bridge, nil, a horse and cart, having
in his pc...mission fourteen gallons of illicit spirit. lie took
him before the Lord Mayor, who inflicted the usual tine,
which was not paid, and after he was locked up witness took
the horse and cart towards the (.ridge, thinking that by
means of the animal he might discover whence the spirits
came. When he arrived in High-street, Southwark, he
allowed the horse to have its awn way, and on coming to
Great Suffolk-street, he turned round and entered Chapel-
place, at the rear of the Police court, when he stopped at a
hatchway, and refused to proceed further. Witness had a
key which he took from the man at the Mansion-house,
which he found unlocked the gate, and on his entrance he
smelt a strong effluvium from molassee wash, clearly indicat-
ing that a stall was at work near the place. While
he was looking about him, the priaonen ran out
of the house, and endeavoured to escape; but the
officers who admitted him took them into custody.
They then acknowledged to workit•g • still, and rad
that they did so to keep them from the workhouse. Wit-
ness then entered the room at the rear of the stables, and
found a large sti.l in full working order, running off spirits.
was fully charged with molasses wash, and capable of
working off a hundred gallons. The room also contained •
variety of tubs, a large quantity of spirits, and everything
complete for carrying on the business.—Mr. Beadon inflicted
the peachy of 301. en each of them. In default of paying
the final., the prisoners were committed for three months.
THAMES—AFFRAY WITH SMASHERS.—G. Green and
B. Baines, well known utterer@ of base coin, were charged
with pursuing their illegal calling in the Commercial-road,
and aleo with assaulting two police constables in the cxecu
Hon of their duty—On Friday night, at a late hour, the pri-
soners entered a beer-chap in the Commercial read. PLO
called f..r some reirephme nte, in payment of which they ten
dered a shibrig, which Mrs. Higgins, the landlady, im-
mediately discovered was a counterfeit one. She veto', i d
it to the male prisoner who p iid in good money, and left
the house witie his companion. Mn. Higgins followed them
until she met with John Grave, • police constable, No 204
H, who wa.ched them closely, and paw them enter two
ahor, where they attempted to pan base coin but failed at
b
&en afterwards Grave was joined by policestaa

PARIS, 5... D. ti
,New...... 74
yeal74 60
. .

Mackintosh, who also followd the prisoners until
they reached the Whitechapel High-etreet, where they
turned down a:narrow passage called Angel alley. Mack-
intosh immediately pounced upon the mile prisoner, and
said, " You have been attempting to pass some bad money
in the Commercial-road," to which Green replied, " What
do you mean i" end immediately put his hand into his
waistcoat pocket and took some money out. Mackintosh
seised the prisoner by the hair of his head, as he put his face
towards his bands and attempted to swallow something.
Grave at the same time wised bold of one of the prisoner's
hands, and after a good deal of trouble succeeded, with the
assistance of Mackintosh, in pulling it open, and discovered
therein • base half-crown end a base shilling. The police
constables then endeavoured to secure the prisoners, who
made a moot determined resistance. They were, however,
at length overpowered, and conveyed to the station-house,
where Green said the police came down upon him so very
suddenly that he had no time to swallow the stuff. On being
searched, only fid. and did was found upon them. The
base shilling taken from Green, which bad a particular 3
mark upon it, was identified by Mn. Higgins as the one 1
tendered to her by the prisoner Green. The police constables L
else stated they knew both prisoners well; they were *
smashers, and had been long about town.—Mr. Ballantine
Si
remanded the prisoners.

WOOLWICH.—COMMITTAL OF A NOTONTOUS OANO OF
Benotens.—William Mayhem, W. Johnson alias Mont-
toe alias Jim the Greek. a well-known crksman, and J.
Flowers, the keeper of a beer-shop called the Folly,
Barnsley-street, Mile-end, were finally examined, charged
with haling committed a burglary at the Powerful Inn,
Warwick-street, Woolwich, and J. Burton:in, a greengrocer
in Albion-street, Woolwich, was charged with aiding them
in the commission of the felony.—The evidence was pub-
lished on a former occasion in our paper.—The prisoners
were committed.

375 eltater Ilelphead.
18 Do. erefereace....

14.. 10 U.. 6pr L.
Didbibuk 11411. June.
Dssolddtk& AnstiaAr.
A EMI AU. LA EA Li In
A Do. 11641. E. &
3) Do. AL 11s. EA. U.)
24., Sulam Oamtka
..„..DolLl/4.,::,5.fr;rtd:N.0rancw...61'.,*n.....b.,..e.14...°.1

77.)

1 Ilg
1V•

lie:csii;tisl
Do.p.
Easters. Uni;,...
Pe. 1 shares ...
Do.Uusrutd.6v.el.
/Rut LanearAire
Do. New .
Da. New. f slava
East Liasvinshirs . .
le Ilambueggloesue
MONEY MARKET.
SATURDAY BYRNIIIO. Tri rer.,(0,1711€0,7
It is seldom that a budget or financial statement worms
has been been looked for with an interest so intense, and 8111„,t,izt,..rt,f,,
repaid with a discontent so manifest, as that of last le Gt. ma, of
evening
-
evening has provoked. A considerable number of 3,1 f,7,:5Pa,,14---
members of the Stock Exchange remained in the City si a Doi 119.7:4 164.„, ::::
to a late hour last evening to wait the chance of late it V,. ie.-a •
editions of the evening papers bringing a substantial 11! tt::ktvg. ::•-•
portion of the Premier's speech, in which after all they si Do. Now. 1T1..7....
were doomed to disappointment, besides many more 1 "td".. f.ttit,"
who proceeded to the House of Commons seeull sad Heibi •
to hear it. It is not, however, so mach ft It Ir..Z. :••'
the aggravation of the tax upon income that has u` Isrlu.o..itt:klii*
given rise to reproach and disappointment, as the * 1,„if.a5,.,i,,ke.4,k
dilapidated if not disastrous view which the speech to Lin ".r.g
T:: isk. • •
has exhibited of the financial position if not resources gt; LanassAire AA uriii
of the nation. The prodigality of the item of one t, It: t',,,,,;•,.,; . :::::
million one hundred thousand pounds for the war le L.., phone
with the barbarous Kaffirs was a special item for :, 1',;,:,...,,";:,.'„.".Lii*,,*:: ,
astonishment. But, above all, the statement sup- is, De. 7 Amin te:si. ,
ported by figures that, without the additional tax r, 0:,;,-,,.
upon property and income, the estimated revenue of to 1.," k"'"g.tu'i
.s. De. w. K. 11100
the country tcr the present year would still be in se Do.Proaone.Wem
arrear of expenditure by about three millions sterling 1, I,':. v.. -• •: is.
has not only created general surprise, but in some se t.e.4.1....i Moord.
40 1.4100, unti ..
quarters a sort of despondency. kg De. New . .• • .
Consols, left to themselves, would have been in a 4. ~,,,.00i,.'r46iiir.,
more depressed condition than they left off. But 411, ii,,D-r...""c7e.s fie
exertions were not wanting to support them, to which, iii 1:::;;;;',,,"g 'iiii,,,r ,1
as supposed, the Bank voluntarily, or on gentle coer- 14 Do. du.. .. . 0...
cion, was no stranger. Consols drooped to Sin Uhl::: it.,17,,u. .
*,, ,•.4
sellers, recovered afterwards to 891, and left off 4, Do. co,.i. EiioW4l..
rather heavy at 89e to t both for money and account. 4 ,r,.t.i:Zif..."..1.:2
Reduced Threes, 894 to J. Three-and-a-Quarter r- Itss, du. la ...
- - - . - and Grains.
-oer Bills for March,

per Cents., 90f, to 1. Eiehequer
advertised, 23e. to 275. • the June bills, 25e. to 30s.
India Bonds, to 12e. ium. Bank

1

premium. _ , 12s. premix
Stock, 200 to 202. India Stock, 243 to 5.
The report of foreign stock dealing was almost a
blank. Scarcely a dozen transactions took place, so
exclusively was the interest of the habitual dealers con-
centrated in the home market. Mexican were 181
to 191. New Granada, an, to 11. Spanish Fives,
20) to 1; the Threes, 311 to 1. Portuguese, 25)
to 6). Dutch Two-and-a-Half per Cents., 53; to
41 ; the Fours, 851 to ). Belgian Four-and-a-Half
per Cents., 89 to 91.
The last year, lamentable as it was for the un-
paralleled vicissitudes of commerce, was sesrcely less
so for its demoralising effects on commercial character.
The recklessness of overtrading and over-speculation,
far beyond the limits of legitimate capital and re-
sources, of which multiplied failures brought on the
exposure, was alone sufficient to bring discredit on the
British mercantile name in other parte of the world.
But other causes tending to depreciate it still more,
without even the palliation, inadmissible as that may
be, of rash and inconsiderate trading, have not been
wanting.
It is notorious that merchandise, such as corn and
cotton, purchased by special order, and upon credits
open and unlimited as to price, in the United States,
have been refused acceptance on arrival here, both as
to the commodities themselves, and bills drawn
against them in this country, when and because
prices had so fallen as to make the speculation
on which based unprofitable or disastrous in its
results. Even large dealers in money, who had been
so ill advised as to depart from the usual course of
their business, and embark in mercantile specu-
lations,
have been known to repudiate engage-
ments entered into on their authorised account
on the other side of the water. Merchan-
dise still remains in the Custom-house, it is
known, consigned to legitimate owners, who do not
choose to come forward, pay the dues, and the bills
drawn against, and so redeem their property.
Worse still ; there are parties, it is said, who sent
out agents to the United States to purchase whatever
could be obtaised, without limit of price, cotton or
corn. On the occurrence of the failures of great houses
here, so anxious were various parties lest such unli-
mited orders should not be executed, because
of the discredit that might be superinduced
from such unfortunate casualties, that credits
or, undoubted banking houses in this city were sent
out for use in case of need. The commodities so
ordered were purchased and shipped, with or without
the necessity of making use of these supplementary
credits, and all shipping charges paid on the other
side. When the vessels arrived here the cargoes
were taken possession of by the competent parties,
probably disposed of. but when the bills given in
payment arrived they were refused acceptance aid
payment, and, in consequence, the agents by
whom drawn in the United States, authorised
duly as they were, have been served with process,
and in some instances, as reported, have been placed
in durance vile, either on the other aide of the water
or here, as it would seem, where, in default of bail,
they must re main until the courts of law in this
country shall fix, which will certainly be the case,
the parties so forgetful of common honesty with the
penalty of fulfillir.g their engagements. The unfor-
tunate agents therefore may be detained in custody,
or, equal to custody, on bail, for many months to
come, in addition to months of suffering already.
Such doings must bring British commerce into dis-
credit everywhere.
614GLIRTI FUND&
3 per Ct. Reduced Anne.. 119} I India Ronde, under £3,000, 10
TolAii Console for Amt., 663 21 6
Each. Bills, £l.OOO. FL, Juno, NI
Long AMA.. 10 paean, Id& Jan., Mao, £5OO. June, 25
180,011.10 Ditto, Small, Juno. IS 30 24
India Stock. 2474 3 Ditto, Ad. entered. Awe, 27 4 T
Ditto Bonds. /11,000,10 6
f FUNDS
4* per Ct. Belgian Sde.. ex. 26f. TNi
name Ct. Dutch Itsch., 12 guild.,
14 per Ct.. ditto Certificate. 821
RTOORR ABROAD.

,7,11; D."; :
Do. I.Avoi L.a.b
Do. do. Nero ...

ruu. ...... .
6, lA, 4W. d. .V.&B.
Ts Du.lol.*A. Al &b •
.liß. M. ,211 RI
1* Do M
B.
60 London a S.Wodero.

FOREIGN
6 par Ct. RruiHart Bd. Sal&il. 861
1 paa Ct. Grenada lidb.
6 vorebmaua. ty. from
EXORANGIGt ANo

satt~
3 per Ceuta. .I 1.8•4•2_- 4:6444•4{.
4670 13 461 74 Ili I —WO 174 10
3 Do. 71"- 74 SO 74 80 74 95 74 80 74 90
6 Do. .I 116 70 II 116 60 116 80 116 60 116 80
44 Do.
Ifiehitage oo lanike OWN. 23 60 offered.
Bole= 5,1640 99 Mosey. Naples Realm. Monet
Do. , UM. .. Homan
Do. 4
Do. Bonk .. 3195
BLOWSY, Fla. 18.—Leon of MO, 972: Ditto, 1942. 979' Ditto.
1844. 911; Ditto, 1834 662 ; City Loan, 1613, ; Bank of Belgium.
761; Issue of 1641. 107 ; Nathan's ou Lando*. 25 60_,
APTIIIILP, N.—Lid:Map on London. 25 624.
AN4TSILDA3I, Fes. 18.—Act. Debt, Twownetnlialf Per o=tw. 531
344 ; Ditto, Threo per Caste., 65 659 ; Ditto, Four per Cont.. 64
649: Amort. N od., Your-andtalialf per Cent., 162 1624: Etehan
no London. 1.: two moue., 11 90; on HumbUrlt 34 87; 2 Moillho,
34 62 ; Paris, 56 62 ; two month, 2$ It
Balms, money_St Schuld. Sch., ThreetindowHalf _ per Cents..
921 91Fa daunt. on London. 2 month", t; 279 ;
Hauttuni, 2 month., 1514 1619 money ; en Porte, 2 months. Kt
bills, 614 money.
11,41disCIO, 16.—Austrian live per Ceuta., 1024 WIN; Bank
awes, 1,48() bills ; Butelan.Eugilah Loan, Three per Conte., 106 money ;
Ditto, In Certif., 102 Mlle ; Hole and Co. Third and Fourth Salm, 96
; Ditto. In Certif., 96 money New Four per Centa., Hope and
Co.. 87 hill : Ditto, titieehts, 861 bi1bt.861.0.e7 ; Pollak Now Four
per Cents. 01)1,1116 ; Dutch T....and...waif per umte, 65 MIL ; lortu-
nue. total Loan, 2.5 bills ; Spanish Floe ycier Cave., 116 bilh, 139
money Three per Opeen, lAD*, 24 0013Ey. ElChilage4 021
London 80. letemburg, Fels 8, three month& 372 ; Feb. 14.
ihtec month% 6.24.
V1Z:154, Fan. 12.—Fire per Cents., 1713; Four per Cents., 86;
Thrco per Centw, t 4 ; Twownd wHalf per Centel, 604 ; DOC 111 ;
Ditto, 1639, 111 ; Bank Sawa, UM.

The Union Exchange Company held its annual meeting
iu Glasgow oa Tautsday, and presented a favourable
report.
Net Profit on year ending Dec. 111, 1847 [24,364 8 1
lionprnor account £5,000 0 0
Di% idendt7l per cent. on June 30 —9,344 3 6
Dividend 7
perant on Dec. 31 ...9,375 0 0
Rent!T017,5321.) 843 4 7 24,364 8 1
The 101. shares of the company, on which 21. has been
pad, are selling at 37a 6d. to 38e.

Id.
Si 4.1.1.

Jo
it fp.
'p.
171501
15134.
114.

F GB

3

We had a dull share-market on Saturday. Great
Westerns were somewhat in demand. Brightona and
North Staffords were not so good. South Westerns,
which have paid the usual dividend, have not ad-
vanced proportionally. Upon 21. declared the ad-
vance has been only 11.
81:1Altli LlST.—Lownbs, Fzs, 19.
Mots—The quotations of 11110. In Roma chantatars &mote Waal
intqa.tiotts; those of llosa la WWI pticplea
PAID. PAI Ma ks
D.
46 rectal. . ...... 19 17i 374 Lon..B.lFast.Nowsol 131'
4 mansrpt.lt'ot .41 Bast. NIA 39 De. Arta 4ut. ... '
lu Litrin.Wol.e Dudley 6 • I IP Do. Conn Tanta,.
Ini Ilinn.Wol.& e.vn.i ii so D.. d.. 7,..„
SO 111 n. & Oxford J. 314 i 1 i itt Do. Thirds
6 Borten &am& lam. I Sp. 1, Lora.antistte Yon*
, iirigoi ask! Ka•der.. Id 13d. 3 Manch..Butt../tMat
De. 741114 ..t.;... liitti. It* 319.1., sto., m.. 4
If Iti: it ItV,",'ifi..icii. p. b.
124 24 D0.61.Gri....8.101

In 18d- Iff

4d.
C.il 6
I 01d.

Grisubv Dor*
Du. .11.1,,,L0n.U5t.
1 ..!hve.A,etiursaamp,

it
14 ld.
1 21i.
42
0111
dt
2 10.
14 124
213 1 cd
1254 ed
fed.

Ala OW
lb 13 ed

44 48 e
48 LO d

WiiiOrioi. itii,;ci ..
1.6,jr 16 Lo.
IS shares .
loi. Ds. 131rro. &Dor%
PA. Do.C. BM& 1#.656.
36 D. Blst..L.Weift
ils Do.. do., do.. ..,.
je littl.(il. It esl.lfri66
100 Nercastk & Cerl66
tag Sermantel I
A North British ...
71
Do.
Do. Aura . ...
Do. '
2 Do. Thirds
bjk. Norfolk
Do. Der, ROL
flo.G twit. 62p. Ct
I Do. krt. SY. crAl
Do. do. Irdortbey V
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Milan. 854; Ruder:6oM ; Limner. lii; ressui. Oli ; sieuna. W.
MEETINGS. MIDLAND . I fa{f yearly Meeting.
Derby, Feb. 19.-31r.O.Iludeon, M.P., in the elialr.—The report stated
that-it woo amerced [Duch satisfaction to the director. that, at thecione
of a period of severe commercial difficulties, they were enabled tore.
port • balance of 237,9751. 12a. jet, which after deducting
42,2301. lbs. 3d., the amount of the guaranteed dividend no the 6 per
cent. stock and sharer, would enable the meetir g to declare &dividend
of 3/. lthe. upon etch tart. of Midland consolidated stock; of 3/. loa.
upon each 1002 of the consolidated preferential stock ; and after the
rate of 7 per cont. per annum upon 101. of each of the 401. than,
of IL Ilia 3d. upon each 10111 of the Consolidated Birmingham and
Derby Stock ; aner the rate of 5 per cent. pre annum from the open-
ing on the 6th of September to the 31st December tut up0n.,32/.
(the amount then called up) of the }:rewash Valley, and breve a
balance mailable for the preseut halnyear of 45,6755. The more re-
ceipts for the half-year from each portion of the line, a..d including
the Ashby Canal, have been 586,0341. An. art, being upward, of
101,0001. more than those of the previous half-yerr. After so con-
siderable an Ina CAPe in 1 he receipts, the proeptetive addition from the
further immediate opening by mean, of the Syston and Peterborough
Railway, in connexion with the Baleen Counties Railway, with the
metera districts of England, ler the supply of mineral*, and
the return from thence of corn for the manufacturing districts,
the proprietors would nee...eerily Sind a large increase in Do-
m/naive carriage and waggon stock. Store the hest kale-yearly
meeting, 12 mike of 'he blemish Vallee branch have been ripened,
but as the branch, to the principal collieries were not yet completed,
and the ;unction with the Punton BildWOV had ban postponed, there.
oaten for the portion have been email. since the legit meeting the direc.
tors hod taken the entire of the carrying husinene on account of the
company. D. the last of the old contract. for maintenenve of the per.
manent way would expire next July, and • comideneble saving would
the, be effected in this item of expenditure, the directors proposed to
form a fund, by appropriating after that date 20,0,02 annually, for the
purpoee of reuewing the nide and deepen from time to time, OA may
be found necessary. Mf. Maley, the superintendent 01 the locomo-
tive and carriage departments, reported that the locomotive, carriage,
and worgem ,tack me in improved working condition. The Sycton
and Peterhormigb line woe way nearly completed, and would he
opened for through truffle before the end of next month. The
works on the Leicester and Swanningten, consisting of the remoral
of the inclined plane at Bagwortb, and the addition of another
line of raid,, w: old Minedy he nninhed and ready for full work. The
extension of the hue from Lorag.lane through Ashby Jodie Midland at
Burton-upon-Trent, wax going on, and would be ready for traffic in
the coulee of chi. 3 ear. The line from Nottingham and Midelk Id
was proceeding. Three bills have been introduced into parliament in
the present emion ; one of them for sanctioning so alteration in the
south Midland line, near W. Ilingawough, by which a saying in the
estimate would be effected ; the other for authorising the oonetree-
lion of a short branch from Derby to Ripley, with Manche. out of
it, for the ea camodation of the collie rim; another short branch
from the slmboruugh station, and two Meet. in connexion with the
Erewaeh Valley and Nottingham and althstield branches, and
also certain enargemente of the Derby and Burton Nations. These
branches were chiefly designed fur the better mcommodation of the
mineral traffic. The total estimated cunt wee 93,001. The statement
of account* showed that the total rosette* on the capital account have
been 9,767,0241. Is. 3d., and the expenditure 9,653,1222 lbs.
fag • balance ageing the company of /05,798, Os. tid. On the Telerate
account the receipt. (including the balance of 2,7271. 10*. M. brought
from the amount of lust half-)ear) had been 000,0411. list Id., and the
expeneee 32,0651. 15. 10d., leaving a balance, applicable to dividend,
of 257,9731. 12.. 3d.
The Chairman said—ln undertaking to move the adoption of the •
report, it will ne my. duty to make a few oheereatioes in it* elucida-
tion and in illustration of the principles it embudiew. Gentlemen,
you have observed that of late them patties who are constantly attack.
ing railway property hove materially pinned the ground of their at. '
tacks. Them maim were in the habit of attaching railway companies
on the ground that they took too much torn the public, and nue-
called so well with some neighbouring cum:Arnim as to induce them
to lower their farm. tam happy to knew that we did not give way •
to the clamour fore low tariff, which at the time led to attache upon
us, but which his enabled us to hold our partition throughout the Isle
monetary era*. The tam. party are now leaning in another dire..
tioa, and turning round they ammo us of paying our dividends out of
capital. Now, I hope to convince yea before I sit down, that that
charge is unfair and unlmilded, and that an far no UM
company is caucerned—and I believe all others—such a practice
has never existed. It la my duty to chow this to you, and that the
financial poeition of this company is most satisfactory. When I last
had the patire of meeting you! entered into an termination of the
aiurceri of ana the probable revenue which you might mpect this half
year. If you an recall to your sand. the observation. which I then
rnade, you will remember that I said that the probable revenue foe
this half year would he 600,0001. It in a source of great mai:action
to me to know that what I then predicted haa been Italy
and that we meet the sharehulders to-dae, *bowing that o:effritleal
earnings breve been Upwards of that stun. You are probably
aware that the statement that we pay our dividends out of
capital is dieleible into two parts—the items upon which we have
been most enriched being the charges for the bittern on capital—
end for our working Mock. Now, gentlemen, I can rue you that
not one sixpence hue ever been debited to the account of capital foe
Interne on our debenture debt, but bus always been charged to the
revenue accour.t. Therefore coy simple reply to that charge to that
every napalm of interest that could be fairly to charged, Me been
charged to the revenue account, and Ido not think it will be neves.
sery for me to make another observation on that head. I now come
to speak of ;the question 05 our car eying Kock, which I have most
• carefully considered; and here I must premise that at the conclu-
sion of the !mediae I should with every gentleman to walk round
the statism, and view the state of our stock, for which Mr. Kirtley
will give every facility, and convince himself of the effickat state
in whkh it 1., on compared to what It was when the =alga-
'Wien of the time companies took place. With regard to
the alletiation of our having charged for carrying stock to capital
nrwhich ought to have been charged to revenue account,
Aow you that our stock is is a much better condition than it
was at the time of the amalgamation. I will show you what was the
aunt of our carrying stock in 1845, when the amalgamation was
entered into, and what it stdw. I will further *hove you whet was
oar revenue at that time, what it Is •at present, and sou old then
see that our stock is Imre now in proportion to our revenue than
it was at that time; and wben I have done that I do not Where that
anyone will think that we have added more to the capital account
than was necereary to meet the requirements of the new lines and
the female of our traffic. Previous to the amalgamation the working
goats of the three companies, either of engine', carriages, or wag-
gon& were not coal to the Walk of the lines. In sayim this I do
not with to cost any reflections on either the Midland, the Midland
Counties, or the Birmingham and Derby aunpanies. Rath party.
were walrus to economise their funds te the utmost of Mowery
and the result was, that they were not in • condition t
provide for the traffic- Gentlemen, at that time the engines were
not °My numerically too few foe the traffic, but they were deficient
in power. Thee
mng, we ham had made larger and more powerful --
and tinis they were rendered nearly new and equally as good—ere
chame the expense of the alteration to the revenue and not to the
capital account. At the time of the amalgamation we had 174 mike
of railway opened, and the emu Fleet on working stock amounted
to 467,41,22 ; while at the present time, including the Brietul
and Cam/eater line, we have 437 miles opened and at work,
ant the amount spent on the working stock I. 1,3b7,710/.; but in
that sum is mcluded 130,0002 for awl wagger*, which it it uot usual
to supply upon railways ; and if we deduct that amount, It reduces
the Dent of 0 aegking stock, in round numbern, to 1,250,0001. Now,
if the number of miles on multiplied by three-3,wit per mile being
the usual sum calculated for the working stook of a line—it will ke
band that in each we we are ands the enrage. Now, in Me ease
period, our receipt. have increased from 430,000:. per annum to up-
...di of 1,10,0,000/. per annum. Before the amalgamation you
therefore, see our working stock had oost the 2,7001. per ralle, and now
it.ba5"..49004, reex mile ;while, In the ante time, both our stock