The Express.
London, England, 1853-02-08 00:00:00

THE EXPRESS, TUESDAY EVENING, FEBRUARY 8, 1853.

TILE COIN TRAUF:.

- -
The memento from the awe distant poets are likewise of
subdued tone tl.is week. A letter from °elate, dated
17th Jan states that the operations during the preeeding
fortnight had been on • comparatively retail scale, and
that sellers had experienced considerable daffeulty in ob.
tait:sig tamer terms. Soft wheat was quoted 265. to
265. N., und hard '2ls. to 22.. per qr., free ou board. The
ezputts from Galata and Ibraila in the year 18.12 had
amounted to 1,849,730 qrs., of which 484,976 qrs. had cos.
aloud of wheat. The musk of the latter article on hand
was computed at 72.000 qrs.
The !Aro advice' from America inform us that in con-
segmance of the falling off in the British demand for bread-
stuff., prices had rather given way, and sellers had become
more nations to realise. Freights bad also become easier;
24. 9d. per bri. for flour, and 81d. to 9,1. per bu.bel fur
graic for Liverpool having been accepted. During the pre-
ceding fornight about 84,000 brls. of flow had changed
hand..

(rr 65•

BRITISH.
Thou.4ll the wind Ims continued favourable for
vi .sr'. te•on the northera continental I 'eta, the arrival.
Leae lehle off materially since the elnse ut last week, which
reduces us In e include that the view we then took ass well
wended ; vie., that nearly the whole of the quantity de-
epatehid from the Baltic, lc.. during three mouth. pre-
seeding. hut kept back by the prevalence of south-west
vends, had arrived a:together. Shotahl this prove to be
correct. months may, and probably win pass 1 feire we'
again enteric an huge a supply, as •Ite shipment, have of
lat. Men tits a camparat.vely smell 'scale. The effect of
a souta:t.inesiu. arrival at most of the principal leirts has,
Ito a ever, 1,",, ti esuse c .nsiderable ri, premien in the
era le, oat at nearly all the :e ideal: pectin...al markets held
since the. day week prices of wheat have given war Is. to
2s. ;sr qr., barley Is., and oats nearly us much. Buyers
have therefor. gained • decaled advantage by holding dr,
and tt. ef app.. ,F disposed to act „lautinte.:y, so as to bean lit
as mu It a. paaitole by the temporary exce.s of supply. In
every other respect matters remain in precisely the same po-
sition as they were previously. That the last crap of wheat
was il: heient, and of wretchedly bad quality, in all the
principal wheat growing countries, is net for a moment
disputed, nor has it bean discovered that the loss of the
potato bed le en exaggerated. The arrival of grain has
not eta-echod the quantity expected ; every one eonver-
up! with the trade Lisle, that a considerable accumula-
tion Led taken place, which eight or ten days of north-
emit semi could be sure to bring to hand. It really ap-
pears, thele;Ore, to us, that there is nothing in the
paitoni of affairs to warrant a continuous depremion ;
but, in:mit g the uncertainty of the corn trade, and how
little it is influenced by anything except that which
makes itself immediately felt, we are not surprised at
the effect which has been produced. Farmers do not,
however, appear to have taken the alarm ; and the de-
liveries at the markets in the agricultural districts have
been of a, moderate a character this week that the dull
reports from the consonsing towns have had lees influence
than might have been expected. The weather was
dry areal frosty up to Wednesday ; since then some
q..u.tity of ram has fallen in different parts of the
country ; and as yet the laud is not sufficiently dry
to allow rf much progress being made with field labour.
The arrears of wi rk (owing to the impessibility
of finishing wheat-sowing at the accustomed period)
must be heavy ; and the probability is that so soon as
it shad! have become practicable to get on the land, farmers
will have tor much to attend to, out of doors, to supply
the markets very freely. This, in our opinion, affords
soother reason for believing that the fall in prices will not
be of long duration, more especially as the consumption of
breadstuff. is es great as at any previous period. For the
present the course of pokes a 111 depend entirely on supply
and demand ; but when the season shall have &deemed
somewhat further, other considerations will come into ope-
ration. Tnu; fur the appearance of the autumn-sown wheel
isgenerally well spoken of; it has received littleor no chock.
sod is therefore in some localities rather too luxuriant foe
the tune of year. The breadth is lose than usual; but this
may still be remedied if the spring should prove auspicious—
the perfection t i which draining has sow been brought rem-
define spring-sown wheat a much Ism hazardous crop than
it used to be formerly.
By our &deice* from Scotland we learn that the discos-
raging tone of the reperts from the south, together with U.
bawl aureate from abroad, had caused something likes
panic in the wheat trade. At Edinburgh, on Wednesday,.
It was eaccedingly difficult to plume any quantity ; and
though a decline of 2.. eel. to 3.. per qr. was submitted to,
buyers were unwilling to take more than they required for
immediate use.
The fall on this side of the channel has naturally had its
usual influence on the Irish market., and the latest accounts
from thence report a dull trade for almost article, at
declining prices. It is fortunate for importers that the ar-
rivals of wheat and Indian corn from the Black Sea and
Mediterranean have been ni 'dente of late, as the Irish in-
quiry has all at once fallen off astonishiogly. Stocks do not
however, appear to be particularly heavy there; and as the
improved position of the pete has rendered them larger
consumers of *beaten bread than they were formerly, we
may expect a revival in the desuad.'
TWI arrivals of wheat coastwise trite the port of London
leave been very small, only 2,336 gutters having been me
Crup to this (Saturday) evening. The quantity exhi-
at Mark-late by sample from the near counties has
triturate been unimportant; indeed, beyond what was le ft
ever from Monday, scarcely any wheat was shown on the
Essex or Kent steads either on Wednesday or Friday.
The same came which prevented a clearance being made on
Monday, vin., the inferiority of the quality, has since inter-
fired with the sale; and the business has been altogether
ithimpeetant. The millers are, we believe, is want of good
both qualities of sew wheat,
_and any improvement in the
unditasa would be likely to lead be a better demand.
The receipts of ferefin wheel hare been small as com-
pared with the supply of las 4 week, and the greater part of
whet was then reieWet hairier been landed on importers'
aceesat, there has ben Inds we me pressure to bell from on
beard ship. The Iseasennas ea Wednesday were un-
importaat, bet norelmens Ism* that they could not buy
cheaper them before. Oa Friday there were a few country
silken at market, and the teas of the trade was altegetber
beetle than in the ainneassateat of the week, though
then wee as impaneling la pens. The prevailing opi-
Lam apposes le be On wesenions have touched the lowest
fee the must fur good peen of old wheat. There has
bees easy kettle doing la Black Sea wheat on 'a-
deed seeing of a speculative character hest is
the cern trove kw mew wales past; and the supplies width
have come forward having nese dean sulked In the con-
sumptive demand, the operations in Mating eargese, ee
panels to be shipped, have not been by any means sumer-
en. We have this week bad offers frees the Bade at
lawn rates than at any previous period lease Nevember.
witheat naming ninepin to set. Good red wheat has
bees earn at 425. per qr., free on board in operate:
"Ala the best bid Ilse mold be obtained was, we .
415. Ild. per qr. These rata* show a very material fall as
eiVi d with then lately current.
naillses Intim le report a slow sale for dour out of
Meth sad the bona= 111111011 bas certainly been below the
average err sine weal_ lan. The naiad top price for
tows wine has renalset steady, and noel bush emote,
ameba have net lima add epee r. We have had ao am-
ens from Aneilthemil the beet bends having bees inseam
mane the eldpeteat Ishmael's, penleas prime ban bees
IthmeWy well supperelL
Malt Ins moved of rather tardily ; the Ilan deacripticas
have, however, been bold with much armless.
The arrivals of oats enstwiee and from Ireland have
aeon perfectly ingaitheat, and the greeter part of the
7.000 qrs. received from abroad came to hand before Mon-
day, but not is time to be tacluded in last week's list of
arrivals. The dealers have sot purchased very freely, but
the quantity rewind being really small, when we tan
isle seasidsradsa the Wien character of the supply for
several weeks posemlimg. anon have refused to make any
MOSSOWINI bops/ shad salmtheed to on Monday ; and a
pad needy Moines was demo at the rates then current, on
Welasiday as well se on Friday.
limo bars been taken in small quantities at about pre-
views nine ; end the few English peas which have come
M Wad have likewise sold on about the same terms as
Mthee.
baba core has bees neglected, and prices hen become
eleneheal; the last sales were a cargo of Galati on passage
at 311 s. 9d., and for an arrived cargo of Ibreila 30s. 94. is.,
we Wine, paid.
FOREIGN.
The continued decline here has had considerable effect on
pension the continent, and at some of the Baltic' ports
geollatiess an frees is. to 4s. per qr. lower than they were
A Undies of lest year. This abatement has been gradual,
• gad hes ben eeneedod very reluctantly, as prices in the
fallseise ban an asolargeno a corresponding reduction. So
Meg as our markets renal* quiet, the tendency on the
neat sent win probably le downwards; but very little en-
eMell t would nines M induce foreign merchants to
nisl7:lPretensione, and the present period might per-
haps he a favourable one for making purchases abroad.
At Danzig, on the let lust, holders were evidently
milieus to realise, bat there appeared to be no buyers on
Eagle& account, end speculation on the spot having quite
subsided, very little business was none. EXCHEQUER CHAMBER.—YESTEIDAT.
At Konigsberg, on the 31st Dec., the weather was mild arrnees Is Eason
for the time of year, the thermometer being only a few de- TH Z LONDON AND 801:TII WHATZILY RAILWAY Com-
grecs below the freezing point. In the early part of the PANT v. TUB SOUTH ElkaTlULte RAILWAY Comrster.—
preceding week rather liberal supplies had been brought irpOlellNT.
forward by growers, but a decline of Is. to Is. 3d. per qr. Mr. Justice Wightman—ln the ease of the London and
having subsequently taken place in prices of wheat, the de- South Western Railway Company, the plaintiffs in error
liveries from the growers had again been checked. The against the South Eastern Railway Company, the defend-
business actually done had been trifling, and quotations ants in error, I propose to give the judgment of the court.
had become in a great measure nominal. High mixed The answer fur the decision of the court in this case was
wheat, weighing 61 to fili lbs. per bushel, had bees held whether the plaintiffs in error had an available set off
at 48e., mixed at 46e., and red at 44e. Gd. per qr., free on eg inst the defendants in error to a greater amount than
board is spring. 7.2'.11, and there is no doubt that they had not, if the plain-
Rostock advice., of the Ist inst., state that prices of tiffs in error were bound as between thus and the defend-
wheat had rather given way there ; still good 611 be. red ants in error, by an agreement made between the plaintiffs
had not been offered below 451. to 455. 6d. per qr., free on in error and the Reading, Guildford, and Reigate Railway
board in spring. Owing to the damp weather experienced Company, and the defendants in error were entitled to
during the greater part of the winter, the condition of the stand in the place of the Reading, Guildford, and Reigate
NMI of last year's growth had not improved, and 61 lbs. Railway Company in respect to that agreement,
for wheat was considered a very good weight. Barley and to insist on the fulfilment with them of the terms and
bad oome to bend sparingly, and had rather risen in conditions contained in it, although they were sot origi-
value ; good qualities were then quoted 2-se. to 265. 6d. per Daily parties to it. It appears by the Bill of Exceptions
qr., free on boned. and the statutes therein referred to, that in 1846 a pro-
At Stettin, on the 31st of January, wheat was obtain- Reigate
company to be called the Reading, Guilford, and
able on lower terms than before; indeed, the fall from the Reigate Railway Company, and to make a railway from
highest pout was estimated to have amounted to 41. per Reading to Reigete though Guildford was formed, and that
qr.; and good 61 IN. red was then offered freely at 435. 6d. the Reading, Guildford, and Reigate Railway well to join
per qr. free ow board in spring, the Louuon and Brighton, the London and South Western,
At Hamburg, on Tuesday, the wheat trade was decidedly and the South Eastern Railways, and at the same time the
dull,.with the turn in favour of the buyer. Red Upland on London and South Western ltailway Company proposed to
the spot was quoted 45i. tid., and 61 lbs. ditto 461.6 d. per make a branch railway to Farnham and Alton. It also
qr., free on board. In spring corn a moderate share of boa- appears that the line proposed to be made by the Reading
TOM had been done at fall terms Vie. 6'l. per qr. having Guildford, and Reigate Railway Company, ran so nearly
been paid for 61 lbs. Danish, and 31s. for 491 lbs. Seale bar- in the same direction with part of the branch line proposed
ley. Oats had excited less attention than the week before, to be made by the London and South Western
and good 35 lbs. to 39 lb.. Danish might have been bought Railway Company, that it was proposed that the
at equal to 17s. 3d. to 17s. 9d. per qr., free en board in Reading, Guildford, and Reigate Railway Com-
spring. pony should for that specs adopt the line to
In the Dutch markets very little change seems to have be made by the Load= and South-Western Railway Com-
taken place. piny. Both parties obtained acts of parliament on the
From France we learn that the farmers' supplies had same day, the 16th of July, 1846 ; the act of making the
proved more than sufficient to eat.sfy the demand, end that railway from reading through Guildford to Reigate is the
the value of wheat had given way more or less at most of ' 9:11 aad 10th of Vic, cap. 171, and by section 60 the room
the markets in the interior. At Poise on Wednesday, 1 pony are empowered to lease the railway to the South-
ibllf was very dull of sale, and was freely offered at a do- Eastern Railway Company upon such terms and condition
aline of Is per sack. The pries of bread had been lowered. es should be or may have been agreed on between them.
The news from the Meditemneen is not of much interest, The act for enabling the London and South-Western Rail-
and prices do not appear to have eerie:gone much variation wry Company to make a branch to Farnham and Alton is
is that quarter. the 9th and 10th of Vic., cap. 173, end by section 17, after
At Venice, on the 29th Jan., good Danube Wheat was reciting that between certain points mentioned in the act,
obtainable at equal to 36.. 10d. per qr. free on board. it had been proposed that the traffic of the Reading, Guild-
At Lupien, Ancona, ae„ bunts, was quiet, and prices ford, and Reigate Railway should adopt the line authorized
enasiaed soundly as before. by that act. It was enacted that it should be lawful

Ise the Reading, Guildford, and Reigate Railway
Company to use the railway by that act authorised to I
be made between the stated points, and the eta-
time, warehouses, works, and conveniences belong- i
lag thereto for the purpoie of accommodating the
Reading and Reigate Railway, requiring the part be-
tween those points subject to such rue enable regulations
and upon such terms and conditions u from time to time
might be agreed on, or as might have been already agreed
on, between the London and South Western Railway Com-
pany and the Reading, Guildford, and Reigate Ridlway
Company, the Railway Clauses Consolidation Act, the Bth
Victoria, chap. 20, which is by reference incorporated into
both the special sets provided by sections 112 and 113,
" where the company shall be authorised by the special act
to lease the railway or any part thereof to any company,"
"such lease shall entitle the company or person to whom
the same shell be granted to the free use of the rail-
way or portion of the railway comprised therein,
and during the continuance of any lease all
the powers and privileges to which might other-
wise be exercised and enjoyed by the company by
virtue of the special act with regard to the possession or
enjoyment and management of the railway, or of the pert
thereof comprised in such lease, and the tolls to be taken
thereon shall be exercised and enjoyed by the lessee under
the seine regulation and restrictions as are by this or the
special act imposed on the company." After the two spe-
cial sets had been passed an agreement was made on the
15th April, 1841, between the Reading, Guildford, and
Riegate Company of the one part, and the London and
South Western Railway Company of the other pert, by
which the term end conditions on which the Reading,
Guildfotd, and Riegate Railway Company should be en-
titled to use for their traffic the pert of the line of the
London and South Wesiern Railway Company before re•
(erred to, and the stations, warehouses, etc., belonging
thereto were settled and adjusted. It was agreed that the
Reading, Guildford, and Riegate Railway Company
should have such right in perpetuity. On the 15th March,
1850, the Reading,o uildford, and Reigate Railway Company
by an indenture of that date between them and the South
Eastern Railway Company, reciting all the sets of perils-
meat relating to that railway and the agreement with the
London and South Western Railway Company demised
the South Esatern Railway Company, for a thou-
sand years the Reeding, Guildford, and Reigate Beltway,
and all the undertaking of the Reading, Guildford, and
Reigate Railway Company, with the free use of the railway
and stations, Ac., and all the powers and privileges which
might be exercised and enjoyed by the Reading, Guildiord,
and Reigate Railway Company, sad all the benefit and ad•
vantage derived from the agreement of the 16th of April,
1847, subject to the obligation and liabilities imposed on the
Reading, Guildford, and Riegate Railway Company. The
South Eastern Railway Company contend that the London
and South Western Railway Company are bound to fulfil
with them the terms and conditions of the agreement of the
16th of April, 1847, though not made with them, but with
the Reading, Guildford, and Reigate Railway Company;
and that, by the lease and the acts of parliament before re-
ferred to, the rights and privileges of the Reading, Guild-
ford, and Reigate Railway Company, as well as their liabi-
lities under that agreement, are transferred to and vested
in the South Resta n Railway Company. Upon consideration
of the clauses in the statutes referred to, and of the lease and
agreement, we are of opinion that the ruling of the learned
judge was right ; and that the plaintiffs in error are not en-
titled to a greater amount of set-off than 7291.; and that
the defendants in error are entitled to all the privileges
given to the Reading, Guildford, and Reigate Railway
Compan ander the agreement of the 16th of April, 1847.
At the time of the making of that agreement, the Reading,
Guildford, and Reigate Railway Company bed obtained
their act of parliament, with a clause authorising them to
lens their railway to the South Eastern Railway
Company ; they had, however, no continuous
line of- their own • but, for a certain distance,
were empowered by the 17th section of the 9 & 10 Vic.,
cap. 173, to use that part of the lino which the London and
South Western Railway Company were authorised to snake
under that act, subject to such regulations and upon such
terms and conditions as might be agreed on between the two
companies. Accordingly, in order to make their line con-
tinuous and available for the purpose of traffic, the Read-
ing, Guildford, and Reigate Railway Company. end the
London and South Western Railway Company, to pursu-
ance of the act for making the branch to Farnham and
Allen, entered into the agreement of the 16th of April,
1847, he allowing the ass of that portion of the railway of
the Wet sad of their attires, ht., in perpetuity on the
teem mid emidilbes therein contained, for without the
=Momettaterrerraed nait7iavtileersmaliveny would the
es
=rliiively useless and of little value, and the 17th
of the last mentioned statute removes the dift.
sadly by expressly issAfeeleise the making of the ogre anent
and providing a mode at the end of the section by whisk
the terms may be reeled, in ease the companies do net
agree. The agreement, which was made under the anther
ity of the ant of paeNemeat, bound the two companies m es
the right totow age MOM gib, line of railway of rat
London and Sena -11setern Railway Company, by the
Reading, Gaildflord. and Reigate Railway Company, in
perpetuity, en the Seems and conditions agreed between,
them been, neither .said the male be carried ogee it, be.
cause it was may by lime of that agreement that the
sad privilege.eateeeleh by the 17th media of the
and 10th Viet e. 173, email be conferred. Unlearn dig I
rights and privil.gee ghee by the agreement, with all lb
terms and oonditions, west with the rallway,the
power would hardly be emittent with the MU amps
the last-mentiosed statute, or Ate Railway Muse (hoesll-

deem' AM, the lessees ;would met havi; t_lis Pews. war
privileges which were delay asaimaptatsa by that
section of the special set wig* would be weer
eery for the proper and ellskee weding of the lies.
It is not necessary to conside. bee he Ss
and the terms of it would be Dual. _aa the gear=
suit at ammo' law, se we wofstolen he saa
the classes in the statutes ashes inhered to, is to vest fa Os
lessees of the Beading, OehWiek sad Reigate liailmes:
the rights and privileges greeted by the
which their lease would be of little viluirileat'sed, indeed,
eould not be carried into AY sleet at sir midi the
South Eastern Railway Cesegeng bad Illasied INN
new arrangement with the Lemke and near Westerns
railway company. The one lopenio no ends* on Ile
effect to be attributed to leo mote of poollemat r Midi re-
forma ha been made, that it le swisselly if he moots*
dos amp we can be found in the books oilloiontly in poke
=:11 the eirounotanoso to mist no in weft to a sow
on the point is qaostioa in this am The opiaisa
we hem formed is apse the emisideraties of the sets of per
limment, and the document themselves. There we sa-
shay point proposed to be raised by the defendants in error
is MSS our judgment should be against them on the first
pilot. to which we do not think it neeimary to advert, as oa
der list point we think the judgment of the court below
should be Manned.

ADMIRALTY COURT.—YarsaDAT.
Dorian Da. Lelaumnew.

THE AILAIBIAN.-NBIDLISSLIC INC/MA/IMO TXI COST C

Sums.
This was a suit brought by the owners of the Phesbe
screw steam-ship, against another screw steam-ship called
the Arabian, for salvage services rendered her on the 24th,
25th, and 28th of June last. According to the pleas of the
salvors, they were oa their voyage from Constantinople to
Liverpool when they fell in with the Arabian. She was
then about 250 miles from Malta, and had met with an
accident to her machinery, which bad disabled her engines
and rendered it impossible to steer her. She was drifting
before the wind, and there was a strong southerly current
which, it was stated, would probably have carried ,her
ashore on the Tunisian coast, which is exceedingly dan-
gerous. The salvors took her in tow, and with some diffi-
culty brought her head round. She was eventually taken
into Valetta, at Malta. The value of the property saved
was admitted to be 14,0001., and that of the ship which, it
was contended, had been to some extent risked in render-
ing the services, wee 30.0001. The defence was that the
ship bad been in no particular danger, end that theservices
rendered were inconsiderable. _ .

Dn. Addams and Twist appeared for this salvors, and
Dn. Robinson and Hayford for the owners.
The Trinity Masten said they considered that the Ara-
bian had not been placed in a state of any great peril, and
that the Phoebe had incurred no peril at all, and very little
risk, in performing the services in question.
Dr. Lusbington, In giving judgment, dwelt in strong
terms upon Ae vast accumulation of papers which had
taken place in this case—the same facts, and those undis-
puted ones, having been proved in different affidavits over
and over again. It was of the utmost importance that these
salvage suits should be disposed of with reasonable economy
and with great expedition ; and unless that wen done, he
was convinced that the jurisdiction of this court would be of
a very temporary character. Had the case been conducted
in a satisfactory manner, he should have given 1,0001., but
I under the circumstances he should only award 9501. and
defend-- coats.

INSOLVENT DEBTORS' COURT.—YESTEaDAT.

Ezroaa Ka. Oominsiamaa Law.
IN THE MATTII or_ W BLOCNT.—PETITION

ThW insolvent, who had been an attorney at Birming-
ham, applied to be discharged from prison.
Mr. Cooke opposed for a creoitor, and Mr. Bargood sup-
ported. Mr. Bicker Carina represented tho trustees of
the insolvent's wife.

—The insolvent had contracted some debts in Birmingham,
and was arrested in London. His wife had some separate
Property on which he had lived.
The point was, whether a man was to be permitted to be
arrested by a friendly creditor, away from his creditors,
where there was no commensurate benefit in giving up
prorty.
lir. Commissioner Law was of opinion that it was not a
case to be entertained, and dismissed the petition.

Biro's Ma.

IN RI JOSIAM JAMES LOVEJOY.—PETITION DISMISSED.
Mr. Ernest Reed appeared for a creditor in this case,
which was an application under the Protection Act. The
question was whether the debts exceeded 3001., as the in-
solvent was a trader. To-day was appointed for proof of
the amount of debts, but the insolvent did not make his

appearance.
Mr. Commissioner Phillips thought the insolvent bad
good reason to stay away. There wu no doubt his debts
exceeded 3001., and the petition must be dismissed.
The petition was accordingly dismissed.

BIRMINGHAM BANKRUPTCY COURT.
YESTERDAY.
BM'. MI. C 011111.1,101. VS BAIliaT.
THE STOURBRIDOI AND BRONSOROYI BANKS.

In the matter of this bankruptcy there was another meet-
leg to-day for the further proof of debt', and for the de-