The Express.
London, England, 1851-06-11 00:00:00

LONDON, WEDNESDAY EVENING, JUNE 11, 1851.

WINDING-UP OF JOINT STOCK COMPANIES.
MERCHANT TRADERS' SHIP LOAN AND IN-
SURANCE COMPANY.-IMPORTANT AFPLICA-
-

Yesterday a meeting* this matter was held before
his Hearn dr Wiliam Horn. Mr. Reabarsh, who sa-
te:el as nand he Mr. Harding, the 'Slid manager, and
Mears. Tucker and Nem. applied to have
certain P= a debts against the anon that had been al-
lowed whoa** company was hdre tie Court of Bank-
=anrapi. ea
_the Envoi that Mr. Harding, the
aulaWs 1111.111 then, was advised by
counsel that MIT 111110.01=werit ewer act to have been
admitted by the to llniruptey, as the debts
in question were eminehal the dillesisesbefors the com.
hol mai did set bled the share-
b .It wau the Wiadiatep net: steramno the ier *mis
priM dealstheaht u
pan . sered
hthew
debts anew to the of the igent, whibidemy
to review. The pronaing indeed a pram se
MI Hearer the Kann um ha law deo= great dr
applienilmOisig et apnea that he had tea rarer to de se
under the eiWnge.ifict, leaner attealive might be his
jurisdiction kitties, aaaslppeeeettaa. The proofs had already been
admitted by the Oommfiioaer in Bankruptcy, and he did
not see how,_ wittiest • conflicting jurisdiction, he could
amply with an application that would in effect be tanta-
mount to annulling the proceedings in bankruptcy. The
application was an infinitely important one, and in the
absence of all precedent difficult to deal with, the
object of it being to undo what had been done
by the Caratimiewer of Bankruptcy. The Writes-tip
Act he took it did not put an end to what had been done by
the competent jurisdiction of the Bankruptcy Commis-
sioners, but left it as it were in state quo. Mr. Pcarac, of
the firm of Maples and Pease, solicitors to the assignees,
and Mr. Eldridge and others, opposed the application, on
the ground that under the 7th sect. of the Winding-up Act
the Muter had no jurisdiction in the matter. This objec-
tion taken by the learned counsel to the proof of them
debts, and asking that they might be expunged, was also
taken at the time in the Court of Bankruptcy, on the I
ground that the policies in respect of them were
effected between provisional and complete registra-
tion, and was overruled by Mr. Commissioner Hol-
royd, after a lengthened investigation. A dividend
had been paid on the debts. Mr. Roxburgh replied
that he merely asked the Master to exercise the 4uriedietiou
of the commissioners, and to decide whether policies that had
been effected before the company was legally in existence
were to be declared as debts against the company. If so, it
was a hardship on the shareholders. Under the recent de-
cisions no debts were recoverable against the shareholders
where there was only provisional registration, and he had
to ask the Master on behalf of the official manager not to
receive any proofs against the company, which under the
act must be done. There were upwards of 30,000 proofs.—
Sir William Home said that the question having, as he
viewed it, been settled by the Court of Bankruptcy, pro-
bably ell he would have to do would be to ratify the proofs
with his signature.—Mr. Itoxburgh intimated that as the
Bankruptcy Law Consolidation Act expressly saved the
jurisdiction of the Winding-up Act, a point of this impor-
tance could not rest here ; he must therefore ask for a certi-
ficate of his Honour's decision, and adjourn the considera-
tion of the other questions—Mr. Kensit, the Master's chief
clerk, granted a certificate to the effect that the Master de-
clined to entertain the application of counsel for the official
manager to expunge the proof of these debts, on the ground
that he had no jurisdiction.

COMPRESSED Ant ENGINE RAILWAY COMPANY.—
Yesterday, on the recommendation of Mr. Duncan, the
official manager of this company's affairs, his Honour, Sir
Wm. Horne, declared a return of 41. 9d. per share, to be
divided amongst the shareholders in this company out of the
wets realised.

EXETER AND EXMOUTTI RAlLWAT.—Yeaterdny
an extraordinary general meeting of shareholders was con-
vened at the George and Vulture Tavern, Comhill, for the
purpose of taking into consideration the relations existing
between this company and the London and South Western,
and the Exeter, Yeovil, and Dorchester companies, and to
consider and determine upon the propriety of forthwith
proceeding with or of abandoning the construction of the
Exeter and Exmouth line. At the appointed hour Mr. E.
Woolmcr took the chair, but only about a dozen gentlemen
were present, and alter waiting for more than an hour a
sufficient number had not arrived to constitute a legal
meeting. Therefore no resolutions could be proposed,
nor any formal or valid act be done. The con-
versation, however, naturally turned upon the
position of the company's affairs, and in the course of it the
following facts were elicited. A short time ago a circular,
accompanied with a copy of the advertisement summoning
the meeting of yesterday, and signed by Mr. Clench, the
secretary, was by order of the direct... sent round to the
proprietors, informing them that, pursuant to the resolu-
tions which had been passed at the meeting of shareholders
in February last, the directors had held several conferences
with the directors of the London and South Western Rail-
way, for the purpose of effecting a settlement of all ques-
tions between that company and the independent proprie-
tary of the Exeter and Exmouth line. That the
result of the negotiation had been that they had
assented to accept the offer by the South Western
company of ten shillings per share in full to such share-
holders as would agree to such offer before the 10th inst.,
provided the assents amounted to a specified number. That
as the assets in hand, if rateably divided, would scarcely ex-
ceed half the amount of that offer, and considering the ex-
penses and difficulties that would be attendant upon wind-
ing up the affair, the directors recommended the pro.
praetors to accept the offer. Such were the contents of the
circular, and with it was forwarded to each shareholder a
form, which, if he assented to the above settlement, he was
to fill up and return to the secretary before the 10th
of June, the offer not extending beyond that date, and
which form expressed the willingness of the under- i
signed to sell and transfer all his shares in the
Bastes and Exmouth Railway to the London and South
Western Company, or their nominee, in consideration of
the payment of 10.. per share. Mr. Woolmer informed the
shareholders present that although the meeting was
informs!, owing to the legal number not attending, he might
inform them for their satisfaction that outof the 11,600 shares
constituting the company, he had already received from the
holders of 10,43 shares assents to the proposed arrangement,
and he believed they would receivelltUiS money in a very
few days after. Thanks were voted to the chairman and
directors, notwithstanding the informality of the meeting,
and the proceedings terminated.

ST. ANDREW AND QUEBEC HaTLWAY.—Tho select
committee of the House of Commons have declared that the
standing orders in the ease of this company may be dis-
pensed with, and that the parties may be permitted to deposit
their petition fora bill this session.

CAVALRY REGIMENTS FOR THE CAPZ.—It is re-
ported that another cavalry regiment, in addition to the
12th Lancers under orders, will go to the Cape of Good
Hope in consequence of the unsatisfactory nature of the
last intelligence. The 6th Dragoon Guards (carabiniers),
is the first cavalry regiment which stands for foreign service
and will be probably selected.
EXTRAORDINARY SUICIDE. —On Friday last an
inquest was held at Black Nutley, by William Codd, Esq.,
stoner, on the body of William Wynn, a small farmer, and
constable of that place, who had committed suicide by
cutting his throat. The case was attended by circumstances
of an awful nature. The wound in the throat was so large
that a man's double fist might be placed in it; but it appears
that after indicting it on himself he actually walked a die-
taupe of 17 or 18 rods. The widow of the deceased stated
that she first noticed indications of insanity in her husband
on the previous Saturday, and on Wednesday last the out..
break leek plus, which terminated in his self-destruction.
She reesuated the particulars of a long and futile struggle
whisk the bad on that day with the madman, for
LL. of p••••••• 61•6 lirarip••••••1•••• 'of
boa knives which was in the house. Finding she
was =able to do so, she ran for assistance, but
before tie and& obtain any her husband inflicted several
dreadful wade Via his throat.—James Cud proved that
i Mn. Wym
jr sereming to the barn, and on running to
the yar be hod the demised in • posture,
forcing the balk late his throat with both handstoopings. When
witness got SIM be mind the knife and snatched it from
Ind gong le tin den dens it in • but when nn-
amed Is kiathe Omni be had pet miaow knife in his
Mai This was talus Inn 111 art mother labourer
Genies up, winos via fir the .-14. N. Dixon,
nogosa et Brenta's,
andd I found the deceased in a pas-
ture aser his hone, d gees to a pond, hen which it was
stated be lad jest bees taken. His throat wen sad he
was quite deeiL The Ibsen was amino* ant
sad at the l put there wise Sea as
wend be gredevier
uosd by repealed of a knife.
The mini were each as have heat made
bisesier but I believe it to have ben Inspemible kg
Paw widths k a wound, to have walked teen He yawl* the
pia& where he was found, the windpipe. illas
Mary, end Je von, being etesgistedy
bar
nun I sheen brigs% ban sale the
whoa close to the mg. Jelin Swallow, Vilagreses, nays
led cane to Cards aleistenes, said—After Card sea in Oa
inn, I saw the deceased sharpening a knife apse a pion
of the. I went towards hint, and within three pans ef
him, but I was afraid to fie near hiss, and I dna beeinued
ny saran Collard, wise was in the MA, sad be sass as
else Ma Adman, bat nen et us went very sass bin. ,
Ina venni test towards a peed, etas Dab lielesse frees
dr bow* with a nib la Ms right bank end en ell this
felletrellio.bet did imitgoneenriebintlina lin Myer&
Vim be set le the peat be lesi MEW is. I thee lea
the •does mime sad a rake. lea a rake. red as plig
er Ile pad. wide vas Ave ce six hot ie depth, we livid
set an Ws. bet sea raked bin ep. H. Md.
ssieS
The Oman seed war He seam% Ws
the etreensteetee of the ad
dist et" Tereptrerym
int"--Aboos Area

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RAILWAYS.
THIS DAY.
Two o'CLoex.
As we anticipated, the progress of the arrange-
meats for the settlement of the account in shares, for
which this is " continuation day," hes imparted a
much improved feeling to the market. Prices
are all firmer and higher, and in many instances the
improvement is of a very marked character, over and
above the rally which took place yesterday
afternoon. The account is " bullish," but the
rates of continuation to the next account are
much lower than on the occasion of the last settle-
ment, a circumstance which tends to impart addi-
tional confidence. The traffic returns (of which we
continue to furnish an analysis, under the head of
" Money Market"), so far as published, are good.

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COAL MAREET.—THD3 DAT.
Holywell, 13a. Od. ; Cares Hartlay,l3B. ; Maim,
13.. ; West Hartley, 13s. 6d. ; Wells Zad Zane& 14a. 3d.
Walla End Matas, Ha. 3d. ; Walk lad Larabiara. 146. 34. ;
Walla Had Stewart's, lee. id. ; %basil Adobe. Ti..,
13.. Id.; Walls lad Tea, 141.--Ohlpi at ala" $Ol.

MONEY MARKET.

THIS DAY.

Two o'CLocx.
The transactions in the English stock market have
not been very weighty to-day, but just previous to
the closing of the transfer-books of Consols which ;
takes place to-morrow, a few investments have,
been made, and upon the strength of these opera-
tions, and the continued purchases on account of the
Sinking Fund, the market has advanced Z.
Consols were called 971 to 98 for money at the
commencement of business, but they have since
im-
proved to 98 to k for cash, and 981 to Z for the open-
mg of the 17th July, at which range the market
wears a steady appearance. The business includes
a few operations in the terminable Annuities,
which are also about to close. The official statement
of transactions is : Three per Cent. Consols, 97Z, 981;
ditto for account, 17th July, 984 ; Three per Cent.
Reduced, 971, • New Three-and-a-Quarter per
Cents., 98Z, 1; Long Annuities, 1860, 7 15-16 ; ditto
for 30 years, 1839, 7 1-16 ; ditto,lB6o, 7 9-16, "j. Bank
Stock, 212.
The unfunded securities continue unaltered. Ex-
chequer Bills, 1,0001., and 5001., mark 435. prem.;
ditto small, 445. and 475. India Bonds, are without
transactions to-day.
In the foreign bond market the settlement of the
account is beginning to occupy attention, and the
new account, of the 27th June, is now open, but
the actual bargains of the day have been
few in number, and too unimportant to
affect prices, except in Peruvian, which con-
tinue in demand, the price of the Active Bonds
having reached 88. Buenos Ayres Bonds are
looking down. The official list of transac-
tions comprises only : Buenos Ayres Six per Cents.,
66. Danish Three per Cents., 1823, 761. Dutch
Two-and-a-Half per Cents., 594 ; ditto Four per
Cent. Certificates, 90/, I. Mexican Bonds for acct.,
27th June, 341, 1. Peruvian Five per Cents., 1819,
871, 87, 88; do. for account, 88. Spanish Active
Five per Cents., 201, a.
The traffic returns of the South Eastern Railway,
for the last week, just made known, is very favour-
able. The amount is 15,1014 against 11,8311. in the
corresponding week of 1830, showing an increase of
3,2701. average return per mile is 57•85/. against
only 30-361. last year. The Lancashire and Yorkshire
return is 3,0111. more, being 16,781/. against 13,7731.
last year. The average return per mile is 61.331. agninst
60.60/. in 1850. The satisfactory results presented
by the returns, so far as yet made known, augur
well for the general development of the traffic. The
London and North-Western and Great Western
returns are understood to be likewise very good.
The tendency in the market for foreign exchanges
yesterday was downwards, in consequence of a small
supply of bills. There was much inquiry for paper
on Paris, Hamburg, and particularly Holland, but
the prices asked being too unfavourable for buyers,
comparatively speaking only a small amount was
negotiated beyond the bills actually in the market
for negotiation. Short Paris was done at 25 to 21;
ditto, three months, 25.20 to 25. Amsterdam, 11.171
to t. Hamburg, 13.71 to t. Vienna and Trieste
were a little lower, but Spain and Italy presented no
variation.

When making our report of the exchanges, we
may mention that Mr. James Laurie has just pub-
lished several tracts on foreign exchanges, presenting
the tables in a succinct form, which will be found
useful in every counting-house. The merit is their
portability.
The return of fire assurance duties, which has
been lately published, however convenient for
tho financial purposes of the government, is not
well adapted to show the business done by the
several assurance corporations. We have, therefore,
calculated the amounts, so as to present the extent of
transactions of most of the companies, and it will be
seen with satisfaction how vast are the operations of
some individual institutions. That very old office
the Sun figures for upwards of 133,000,000/. assured
in England and Ireland, besides sums assured abroad,
the aggregate business of that company being pro-
bably not less than 140,000,000/. assured yearly.
The following rank as the largest amounts :
Sun
Plunnix
County
Alliance .. 85,220,592
Imperial 32,198,4.57
Globe
Guardian

At one and the same time this statement shows
the enormous wealth of the country in moveable pro-
perty, and the energy of associated enterprise.
The following shows the amount of general as-
surance paying duty, and the amount of farming
assurance exempt from duty, effected by each London
complexly :
Omni Farming
Total.
lasuraoce. Stuck.
C it t
22,100,000 3,120,392 115,210,392
14,635,0,0 1,039,699 13,694,699
1,565, 00 12,095 1,577,095
1,400,000 1,400,000
2,20.009 42,916 9,307,918
1 ,000,0 o 0 7,111,311 49,111,316
3,030 000 49,000 3,899,000
7,110,000 119,602 7,219,682
21,306,000 1,133,924 24,633,924
10,900.000 317,190 21,217,180
6,640,050 17,113 6,837,123
Impala 31,335,000 814,437 32,198,457
IM 1;800,000 129,:60 12,939,5ee
=1:011 Oramerolal 9,270,00 63,596 5,3'3,396
17,500,0440 370,836 15,970,456
IRMO 7,670,000 41,283 7,7.4,263
MIMI Riffellittn• 2,120,600 1,300 2,121,502
Pitaat
Royal Vzottaap
Royal Far..,. 6,540,000 3,103,168 13,613,466
Rae 3,400,600 113,770 9,313,7701
Om
Vales 16,240,000 301,306 10,513,106
Wrmarmoter 15,370,000 33,300 15,403,300
ENOLIBII PIIRDS.—f.,I Dar.
Book Rock 21141!, Loog Ormolu.., 7 6-16
3 par Ct. Reduced 974 4 lona BOok, 159 03
3c. :6 Cosmic 9:4 Ditto
par Q. Comas, 11 NorrmairM4.(Bol..434. to 4k
for the A.0.,1 .1. July, 98. 4
1011 ZION FUNDS.
Bper t. lelitaa. 91 3
per CL Brealrma,llB 90 6 perper Ct. flealcan, 311
4+
i
Ct. Peru.l.l., 84 8
Do. Now. 86 8 Dltlo Defter.; 40 1
I par CL 115400. Ara., 87 P 6 par CC. Pedagogy/. 65 7
8 per (11. Orman, 103 6 6 p.r CL Itandao, 111 13
3 per CL Milieu. If per Co. &WWI. 1014 ff
3 pr CI. Daorm, 76 7 6 per Ct. Smarm. Armee. 901 i
21 par Ct. Dutch. fat I 3 pa (X Swarm. 40 4
4 pat Ct.. Dorm., 90 I Do. Pormo 4 44
Zrmador. 34 4 Sir Ntased.enterta 4
1 pis Ct. Orroda, 16 11

41pance

British

Mb* Empire
Ch•flal ot kagt•ad
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