The Express.
London, England, 1853-12-17 00:00:00

PENINSULAR MINING COMPANY.

A meeting of shareholders in this company was
held yesterday at the London Tavern, " for the purpose of
receiving information of the company's property and preo-
pects." The chair was taken by F. Pcorza, Esq.. chair-
man of the company, who, in opening the proceedings,
said that the company had commenced with a capital of
25,000 shares, of which first 5,000, and 2,000 subsequently, I
had been disposed of in the acquirement of property. This
left 18,000 to be disposed of, and from them they derived a
working capital of about 10,000/. So satisfactory had been
their operations, that now at the end of ten months they ;
had a balance of 1,5001. at their banker's, besides the pro-
perty, of which they would have full details in the report
about to be read. He would only add that in commencing
they had calculated on being in the possession of four
mines, wham, now they had twelve, and some of these
within If miles of the town of Bilboa, and the most distant
five miles—a fact which resulted in extraordinary economy
of transport.
The Secretary, Mr. S. G. (Rentz, then proceeded to read
the report, which enumerated 12 miner, 11 of copper and
one of lead, and detailed their different states of progress.
One was already producing 25 tons of ore per month, and
was ultimately expected to produce 100. Thirty to had
already been mild at Rwanses, and a portion bad produced
261. 10s. per ton. The results from the others, although not
Jet so mature, were equally gratifying, and the company
WI at the mines eight piles of mineral, grossing 6,770 tons,
amil calculated to produce 2,910 tons of available mineral.
1,366 tons of this would be ready for export, and the re-
minder would be submitted to a patent concentrating pro-
e•1111 which it was expected would make it • 12 per cent.
ore. Besides this the " sett " contained 4,000 tons
of mineral not yet grassed." These features
apply especially to the Huidobro Mine, which had
' turned oat to be a most extraordinary property, being a
perfect quarry of eopper, which was taken from it like slate
from a quarry. The mineral of the " 11uidobro " property
bad already been sold at Swansea at 161. 10s. the ton. The
last accounts stated that there were 200 tons of copper in
transitu from those mines, and that from 800 to 1,000
would be forwarded in the spring. By the contract far this
1 property one-half of the nett profits must go to the original
vendor until the present stock of ere was worked up, after
which the company would enjoy the whole profits of the
mines. The lead mine had been pronounced by competent
judges to be second only to the Linares, with the advantage
of much greater proximity to the port of shipment. The
eeeepany had in addition purchased the right to a large
qsantity of antimony, and were making preparations for its
reduction. The financial statement, which was appended,
showed—Original amount subscrioed, 4,5001. ; cash now in
bands, 1,730/. ; mineral, 3,2001. ; leaving a balance ii4favour
of company of 4301., and this in a space of only six months
with only one mine in full working. The present position
of the company was this. They had in six months realised
4201. above their subscribed capital, were in possession of
11 copper mines, and one lead mine. Had 2,000 tons of
WO at surface, and a lugs quantity of antimony, besides
premises, works, plant, &c. Three of the copper mines
are producing considerable quantities of ore monthly, and
the lead mine exhibits lurge capabilities.
The CHAIRMAN, in moving the adoption of the report,
said that the mode in which it had been received by the
erieeleng rendered len_gthened observation from him un-
arwassery. (Cheers.) Their success, so far, was undoubted,
imd was mainly attributable to the efficiency of their staff
ea the mines. The only drawback they had was the star-
lit, of ships, as there were now 200 tons of ore at the port
waiting for shipment (Hear, hear.)
Mr. Komi said that the Huidobro ore had been assayed,
sad was pronounced to be worth 161. 10s. • ton, and that
from its proximity to Bilboa it could be brought to Swan-
sea at less expense than the Devonshire ores.
Captain Gnaw expressed his satisfaction at the report.
His (Captain Greiff's) friends had invested largely in the
undertaking at his suggestion, and he was gratified, there-
fore, to find it turning out so prosperous.
The report was then unanimously adopted, and ordered
to be printed.
Mr. ANDEADON complimented the secretary on the ex-
cellent manner in which the books were kept, and the cour-
tesy with which shareholders were supplied with every
necessary information.
On the motion for a vote of thanks to the dirceton,
Mr. PsoLzs, in returning thanks, reminded the share-
holders that, although their prosperity was undoubted,
there was still the possibility of another call before the re-
ceipt of dividend: He merely mentioned this as a possibi-
lity, and as his own individual opinion, which he believed
was not shared by his brother directors. (Hear, hear.)
Thanks were then voted to the staff and the secretary,
and the proceedings terminated.

EASTERN UNION RAILWAY.

Yesterday a meeting of the holders of the common
stock of the company was held at Radley's Hutel, Bridge- I,
, Blackfriani, for the purpose of authoe,ing the di-
rectors, in pursuance of tha provisions of " The Eutern
Union Railway Arrangements Act, 1852," to convert
250,0001. of debts into ; erpetual stock, bearing a preferen•
tial dividend not exceeding 4 per cent., to be calculated
from the Ist of July, 1852, and to be paid in priority to any
interest or dividend upon preference stocks Nos. 1,2, 3,
and 4. The chair wee taken by Mr. J. C. COuBOLD, M.P.
' The CMAIRMAN said be should not detain the meeting on
that occasion at any length, and he regretted that it had
been necessary to convene it instead of leaving the question
before it to the other meeting which was about to be held.
The present proceedings were rendered necessary by dis-
sensions which formerly existed between the common share-
holders and the preference shareholders. At that time the
common shareholders refused theirconsent to the conversion
of these debts intostock because the preferential shareholders
refused theirs to the conversion of 77,000L,whieh was nem-
sary to clear off liabilities, into preferential shares. He would
shortly have to introduce matters of much greater import-
ance ; but the meeting must be unanimously of opinion
that, before they entered into new relations with other
companies, which would probably place the railway in a
much better position than it had ever stood yet—(hear)—it
was desirable that they should get out of debt on the
favourable terms now proposed. He concluded by moving
a resolution sanctioning the arrangement embodied in the
notice by which the meeting was convened.
Mr. O. EIMITII seconded the resolution, which, after a
short conversation, was passed unanimously ; and, a vote of
thanks having been given to the chairman, the meeting

GENERAL SOCIETY FOR IMPROVING THE

Kato intelligence.

COURT OF QUEEN'S BENCH.-Yr,•TERDAY.

143711,06 ST six nun ATut'ILDUAI.L.-Ukluttt. Wt.{, t

MCI I. JcuIES

HOLLAND r. FOX.—PATENT
Mr. Crowder and Mr Weimer appeat,d fur the p:dintit!'
Sir F. Thesiger and Mr. ilindmatch represented the de-
fendant.

This was an action fur the infringement of tura patents
for improvements its the construction 01 steel frames for
umbrellas and paraeol.. It was commenced yesterday,when
we gave a report of the e:teumstances of the case and ed
the nature of the patent. This morning,
Lord Campbell summed up, telling the jury that they
were to consider, hilt, whether they thought that the de-
fendant had imitated the plaintiff's patent of IMP, or had
only made use of as origival invention of his own ; sad,
secondly, whether they thought that the second patent of
the plaintiff of 185 J was taken out in respect of novel in-
ventions. He must say this second patent seemed to have

been taken out for mitten which were slmat frivolous.
The specification was drawn up in a very perilous niefluee,
for it claimed things as novelties which were very doubtful,
and which, even it they were new, could Lo of very slight
value. But they must consider all the evidence and cum,.
W a conclusion on it•

The jury retired, and, after moulting together for shout
two hours, returned a verdict for the plaiatiff upon the
fir►t, and (or the defendant upon the second patent.
MORELAND AND ANOTHER V. ARNOLD AND orntE4,_
BREACH OF CuNTRACT,-CARRIAOE OF AN LLIXTRIC
TELEOMAPH.

Mr. O'Malley, Mr. Graves, and Mr. Jones appeared for
the plaintiffs; Mr. E. James and Mr. M. Smith represented
the deferments.
The plaintiffs in this cs•e are patentees for the manufac-
ture of galvanised iron, wi..ch is mush used in the construc-
tion of electric telegraphs. and brought the action against
the defendants, who are shipbrokers, to Teener damages
for a breach of contract. In December, 1852, the plaintiffs
had entered into a contract to supply the East India Com-
pany with wires for tho electric telegraph, and the piles in
which the wires were to be fixed were to be siqr.ied by
Messrs. Ransom aed Co. Both the wires and the piles
were to be taken out to India by the ploiu-
tiff., who on the 31[4 of D,cember entered iota on
agreement with the defen.lonts, out of which the pre se at
action arose. The defeadants by this agreement under-
took to provide shipping toe the carriage to ln.lia within
seven months of 1,700 tons of iron, con•iain3 chitity of
screw piles, as per drawing delivered to them, at a certain
rate of freightage. The breach assigned was eixt the ~e.
fi:ndants had relived to allow a quantity of the screw Nos
to be carried on the terms agreed upon, although they
had been shipped on board ono of their vessels. The
ground of refusal was that the screw piles were or a
different shape to the drawing which the plaintiff, had
delivered, and the only question in the cause war n hether
they were of the same shape or not. The drawing itself
had been lost, but specimeus of the screw piles were pro-
duced and a quantity of secondary t valence given to show
the resemblance between them and the drawing.
On the part of the defendants, evidence was prodwed to
show that the piles were totally dfferent from the cleanings,
and that they were so constructed that they occupied a
much larger space than they would have dune if they had
been made according to the drawings.
The evidence was of a contradictory character.
Lord Campbell, in leaving the case to the jury, said it
depended entirely upon the drawing which had been lost.
The jury returned a verdict for the plaintiffs.

COURT OF COMMON PLEAS.—YesTEEDAy.

SITTINGS AT MI TAMS IN L01.1101..—81LF011.11 Ciller Juin IC L JARVIS

A D A COIIIII.II JUILT.

HARVEY V. IRON.-THE LAKE BATHURST AUSTR.II.I6I.IIT

GOLD MININO COMPANY.

The plaintiff in this cue is a saliciter in Oreat St.
Helens, and the defendant, who was formerly a merchant,
now resides at Brixton. The declaration alleged that the
plaintiff delivered to the defendant 3,000 shares in the Lake
Bathurst Australasian Gold Mining Company, to be by
him deposited in the bands of Messes. Foster, Brothers, and
Co., the stock brothers, for the plaintitt'n benefit, but
although a reasonable time had elapsed the defendant had
not dehvered the shares to Foster, Brothers, and Cu. Ann-
ther comet stated that the defendent aught to have delivered
1,000 shares to a person named Boyle, but net having done
so, Boyle commenced legal proceedings, and the plaintiff
had thus been made liable to pay some costs. In addition
to these there was a count in trover. The defendant in
answer to the action pleaded no less than elevt n pleas, raising
various defences to the action.
Mr. Montague Chambers, Q.C. Mr. Edwin James,
Q C., Mr. Stammers, and Mr. Powell appeared ter the plain-
tiff; and Mr. Ser;t. Bytes, Mr. O'Malle y, Q.C., and Mr.
Houston Browne were counsel for the defendant.
It appeared that in December, 1851, the plaintiff, the de-
fendant, Sir Edward Belcher, and Mr. Bell ayes eel to pur-
chase of two persons named Matthews and limit SO acres
of land, near Lake Bathurst, county of Argyle, in Now
South Wales, and which land was SAN to be of an auriferous
character. An arrangement was afterwards made that the
plaintiff and the defendant should sell, and Sir Edward
Belcher and Mr. Bell should buy, the land for a company
which was to be forme'. Matthews and Knell !were to
receive three promissory ROM for 1,0001. each, and 12,000 11.
shares in the new cempany, and the plaintiff, the defendant,
Sir Edward Belcher, and Mr. Bell were each to hove 3,000
shares. The company was to consist of 100.000 shares, and
40,000 shares were distributed among persons interested in
Ithe company; and, in addition to the 3,(.00 shares each,
the plaintiff, the defendant, Sir Edward Belcher, and Mr.
I Bell were each to have 2,012 shares. Some of the remain-
ing 60,000 shares were allotted to the public, but it was
of course desirable that too many shares should not bo thrown
upon the market at once. According to the plaint Ws cue
lan arrangement was made on the 28th August, 1:552, that
the defendant should deposit the 12,000 shares held by the
plaintiff, the defendant, Sir Edward Belcher, and Mr. Bell,
in the hands of Meese*. Foster Brothers ; and the defend-
ant represented that the 12,000,he1d by Knell mid Matthews
would also be deposited in the hands of F ster Brothers ;
and that 24,000 share* would be wuhdrawn from the
market, to be disposed of so as not to injure the company.
It was arranged that the shares should be disposed of by
Foster Brothers for the benefit of their respective owners,
and the plaintiff handed his shares to the fit readant to be
deposited. In December following, the defendant told the
plaintiff that in consequence of some trickery of Knell, he
had been unable to deposit the shares. Some attempt was
made to recover the shares from Knell by proceedings be-
fore the magistrate, but a summons was not granted ; and
subsequently the' present action was brought. As to the
damages, it was proved that the shares were at one time
worth tis. eaeb, but were now worth only about
5s , and it was sought to recover the difference be-
tween these values upon the 3,000 shares. The

plaintiff bad disposed of his 2,010 shares for about
1,6001. Mr. Boyle, the barrister, had drawn some agree-
ments and rendered some other services to the company,
and after Sir Edward Belcher went to the Arctic Regions,
Mr. Boyle became a director of the company, and he was
to receive 1,000 shares for his services. lie, however, had

to commence proceedings to get posses-ion of these shares;
and the plaintiff having been put to about 141. or 161. ex-
pense in these proceedings, he now sought to recover that
amount. The proceedings were settled by Mr. Boyle re-
ceiving altogether 1,750 shares. Mr. Boyle, an hie evidence,
stated that whatever odium might attach to the original
concoctorsaf this company, none ought to be borne by Sir
, Edward Belcher ; and he also stated that Mr. liagshaw,
,1 the chairmen of the company, refused in toto to receive any
of the 1,000 shares allotted to him.

Mr. Serjt. Byles objected that the transaction was a joint
affair altogether, and that the parties were mutually trus-
tees for each other. This being so it was submitted that
the remedy, if any, must be sought in the scurf of equity,
and not at law ; and it was also submitted that the plaintiff
could not recover in reference to the court as to Mr. Boyle's
proceedings; and as to the count in trover, that there was
no evidence. The learned serjeant, however, amid he did
not desire the case to be stopped upon these objections, and
therefore he addressed the jury for the defer dant, end, at
the conclusion of his address, he put ha evidence two docu-
ments relative to the deposit of the share.. One of these
papers was undressed to Meson. Foster Brothers, and was
dated the 26th August, 1862, and was signed by the plain-
tiff, the defendant, Mr. Bell, and Sir Edward Belcher's
agent, and was to the following effect :—" We the under-
signed, do each of us deposit in your hands 3,thio shares in
the Lake Bathurst Company, making in all 12,000, for the
purpose of raising by the sale thereof rateably the sum of
3,000/. and interest, for which we are jointly liable to
Meson. W. Matthews and W. Knell, on three promissory
notes el 1,0001. each ; and you are trola time to time to
take the joint instructions of any two of us as to the sale or
other disposition of these said shares ; and it was also de-
clared that the shares of each party should be liable fop
the payment of 7501. and interest, being their respective
proportions of the said 3,0001." The other paper was to a
similar effect._

The Chief Justice, in summing up, said that if the case
depended upon the morality or integrity of the parties be
thought it would go hard with Mr. Harvey and all of
them; but they were not there to try the case upon that
ground. No doubt this case was an illustration of the way
in which companies of this kind were gut up, and the pub-
lic were most lamentably defrauded. The facie were that
Messrs. Matthews and Knell, having 500 acres of land in
Australia, of which nothing was known, gut it into the
hands of the share brokers to form a company ; and he was
sorry to see the names of parties—one at least—whose
name should not have been found connected with a trans-
action of this kind. Whatever may have been said of the
chivalry of Mr. Boyle in saying what he had said of
Sir Edward Belcher, still these who touched pitch must
expect to be defiled. Two of the purchasers of this estate
sold, or two utner purchasers, without the slightest inquiry
having been made, for 40,0001., taking for that 40,00) 11.
p,id up shun with which to drug the public, and they ac-
tually endeavoured to circulate 60,000 more shares wiaiout,
for ell that appeared, having sent a single person to
Australia to inquire about the matter. Mr. Bastsliaw, who
was member for somewhere, tad 1,000 shares given to him;
Mr. Boyle said he would not take them, but he should not
have associated himself with such an affair. He blushed to
hear that Mr. Boyle, a barrister, tour a covenant to receive
1.000 shares for work dune, and he was not surprised to
hear Mr. O'Malley, who was a beach( r of the Temple,
should have examined that gen•!crosn as he had done
probably with a view to further Meestig lion. A number
of shares were handed over to the directors and some other
persons, there being 12,000 to Matthews and Knell, and
12,000 to the plaintiff, the defendant, Bell, and Sir Ed-
ward Belcher. After this division, 8,000 of the 0,000
shares remained, and the four gentlemen lie had named
divided this number by four, and took 2,012 shares' each
more ; and an, without doing a single thing of any import-
ance, those four persons received each 6,012 'bares. in

h qulitos, the jury must believe the meant given cf the j
matter by Harvey, fur the dsfeadaat, who was in court,
had nut teen ealled to contradict him. The plaintiff stated
that be it .t 2,010 thous, and he said that he allowed hie
3,000 other Ilikllllll to remota in the hands of ,
fres ; and they, with Iron's 3,.C) and 0.000 others,
were to be ellausited by the defender.: in the handsof ,
Mears loiter Brothers for sale few the ►benefit of the '
eyesore individually. The plaintiff further said that the
defendeat stated that if they deposited their shares, he
might probably iadues Knell to depseit the other 12,000,
and then there would be 24,000 shales in F'oster's hands to
be dealt with sou not to affect the market. The object
was, that just u gulls offered the °teener, pabulum might
be provided, and them gentlemen—Le bteged pardon--
these persoas—(a laugh)—might gull the public. If the
defendant did get the shares urea these terms, no doubt
the declaration was supported; and there could be no
doubt he did so get than. It was objected on the part of
the defendant that the whole affair was a pint comfits •
sort of partnership, sad that the plain:A had no separate
title in the 3,000 shares, but only a j tint .nterest in the whole
12,000; but upon that part of the case Mr. Harvey said then
was a further agreement that the shares should be disposed
of for the benefit of the respective owners, and not jointly.
r.Serj t. Biles then put irs ths docuounes that had been read,
and contended that there was no lien on the shares, but
that had not been made out, for a lien could not attach
until the shares were deposited. It seemed to him, and he
was very sorry for it, that on the first count, if they took
his view of the ease, the question was only ace of damages.
As to the second count, a barrister took a covenant for 1,000
abates fu work dour, and it war al:egee: that hoc promised
Harvey to hand them over to Doyle. lie could not see any
evidence of this. The count in trout came to the same
thing as the first count there was no lien. a separate pro-
perty ill Harvey, end • eonven:,n by Irma in
giving the property to somebody else. Cpoa the
question of what ought to be the =oast of
drinlies. they must take the real value cf the shares at the
time of the injury done, which was about December or
January lut, into consideration. Mr. Chambers bed said
that the shares were then worth 21.. a share, and they
were now worth only At, and he claimed the difference be-
tween these values as denatures ; but they :oust not take the
price that a few shares might have :itched, put wet in
small quantities, as a test of what ac 3,000 were worth.
Mr. Cbainhen says in his reply, that the 3,000 shares were
worth 730 f. at ell events, because they were deposited as
pledges fo: that amount; but tke mallet of Len was no
vide:ice of value. . .

Ihe jury, after eswidering Cho scatter in private for a
abort time, Caine late Cann, and gave a NCTUICe for the plain-
ts(' !or 750'.

COURT OF BANIERUPTCY.—YIsTraDAy.

IiLFOLI MIL

IS HZ OR LAYS CONSUL AT BTITTIK.

The bankrupt, Joseph Obeli, was a partner in the firm of
Moberley and Co. merchants, of Union-court, Old Brad-
street. Not surri ndering at the time appointed, he was
outlawed, sod has not since appeared. This was a meeting
for the consideration of certain proes or. balls of exchange,
drawn by the bankrupt upon and accepted by the house of
Mobtelsy and Vo., of which be wa, o member.
Ile. Pulling, representing the Royal Bank of Scotland,
who had discounted these hills to the amount of 1,1001.,
oontendcil that he had a right of proof against the separate
estate of the drawer, though proof bad already been made
against the joint estate of Meberley and Co., the acceptors,
it being unknown to the holden that Okall was a member
of that firm.
Mr. Rees tendered a similar proof for 1,123/. on behalf
of the National Provincial Mink of Er.&!suid.
Mr. Mplani (instructed by Minus. Reed, Langford, and
Marsden) fur the &signets', rotated the proofs, relying
principally oaths authority of exports Moult (1 D. and Ch.,
11, and 2 D and Ch., 419). The principle in bankruptcy
was, that a party should not be entitled to a double proof,
which would be given in this case if the proof were a
sittfd,_ . .

Hie Honour said he considered Einsseif bound by the do-
Milos in eaparte Moult, and must reject the claim of those
parties to prove against the estate of Okell, wbohad already
proved against the joint estate.
Mr. Reed said the proofs against the joint estate had been
admitted by arrangement ; and he would now allow the
claimanta to make their election. _ .

Mr. Aspload took a farther obiection to some of the bills
whisk purported to have been drawn by the bankrupt at
Stettin, being on foreign paper and without stamps, though
the bankrupt was in Landon at the time.
The evidence on this point not being quite complete, the
cam was adjourned.

SLIJRI MIL COA
IN It

This este the last examinatioa meeting in the ease of
Mosel Uolderaith, merchant, of Qmsen-street, Cheapside.
The beakrupt was the liquid sting member of the late Am
of Goldsmith Brothers, the other pertains being tianasel
Goldsmith, dimmed, and 8. Setae. The osemals prepared
be Messrs. Hart Brother', extended from the 14 Jemmy,
1862, to the 29th October last, sal showed a ass ef 5,2571.
due to creditors, with 1.1081. of liabilities. The meets are
coasiderable, comproiseg 2,5621. is good deb% 1,9471.
doubtful ditto, sad 1,6321. of property. TM bankrupt had
• capital of 464. at the period when the seciennteaffinensamsd,
the peas bad been 2,8791, and gets* hat edemaid
1,9 'di. for • share in the business. The tads mrpemess and
rent amounted to 4004.; dies:oust, 1,1311.; Waved* es-
pouses, 4331 ; drawn out by Samuel Gelimelth, 4121.; by
the bankrupt, 2144. ; and by Setae, 13014 15..., by bad
debte, 1,237/.
• Mr. Reed stated that the mimes had set tbs dighlest
Masetiess to the bankrupt passing.
After some biding amendments were made la the balance
sheet,
his Honour said the case was a eery singular me, mid
apparently one of great misfortune. The report of Mr.
the official assignee, stated that the circumstances
of the cam were such as to call for great sympathy from the
creditors, and to entitle the bankrupt to the favourable
consideration of the mart. It appeared that in May last,
his brother, Samuel Goldsmith, had left England for the
purpose of prosecuting the business of the barawrship on
thecontineut ; but in Jalyhast be was ao-tally killed
by falling from • precipice in Switzerland. TM news of
this distressing calamity reached the bankrupt m the 27th
of the same month; sad, beteg apprehensive of the eons,-
queues, he immediately placed his affairs in the hands of
hie creditors, with the sole view of sureariag a just sad
',eatable distribution of his assets. He but net &se this
under any pressure, far he had at once basted over to the
official sees tom • balance of upwards of MIL whisk be bad
in cash and at his beaker's. The isimeirism Ind buss
rmered from the books, which were very salkheneetly
Mr. Pannell added that the debts pat down as psi
would he hoped be realised ; they wars doe tees pecemi
almost All the property had bees sisliseL lea.
rcpt's attention to the business Coss bs bog lass is dist
court had been meet exemplary.
the Commiasimer—lt is very gratifying to dad this,
the :Bidet of amany came of au opposite character.
do you say about Setae ? Is be not liable as a partner ?
Mr. Reed said the attention of the assignees had ban
drawn to the matter; sad they found it we a limited
partnership. A question bad been raised respecting some
pictures purchased by the bankrupt's brother abroad; it
was desirable that the circumstances should be stated in
the balance-sheet ; and with that addition the bankrupt

would pass. Thithrasva polies had taken pometsion of
the brother's ripen after his death ; but the 'mignon were
aow endeavouring to obtain them, sad expected to do so.
Mr. Appletcm, representing some Paris creditors, wished
for an explanation of some items in the accounts, which was
given.
The hsokeupt then passed, and a day was named for the
cettificate meeting.

INSOLVENT DEBTORS' COURT.-YwrzwAT.

LAW.