The Express.
London, England, 1849-01-22 00:00:00

THE EXPRESS, MONDAY EVENING, JANUARY 22, 1849.

sell on her is the evening. Mary Coleman, savant tv Mrs. I
Williams, No. 7, Doke-street, identified the prisoner as the
ye non who had hired the parlour in her aietreses hems
The primate said, at the time, that she wanted diem for two
boors a day to see her frieuds in. as she did am like to p le
ea hotel.—Police-seepaat 66 E, said, bee lahrmatha be
received, he went to No. 7, Dukestzest, and bid himself is
floe hack velour. He had not been there long before Ste
and another woman came into the East parlour.
twrehriase put ea dress eap, the other woman also put
pa= and apron. The prisouer took some rouge and
her hes. Ikea afterwards a cartage drove up, and
two:lodise got out, sad were introduced to the prisoner.
Witaembeard the phrase give Crippe aikersellent character.
Witness sherwenis west to Beading ; but could find no such
plus es llinisidsiedp, nor was there a person earned Ste-
phantom »MOS anywhere user Reading.—Tke prisoner said
the lady wee gulp 'mistakes about her identity. She bad
new seen the lady before, had nevi r given Crippa a eha-
raster, fur Wshe ever lumen in house is Deike-atreet
H Mr. ardwick said be &koala Ins her 201., or three
menthe impiessinesse, with hard labour ; an if there
were say ether ores he Mould be_primarei to deal s ith them
after the matesse bad expired. The
IS said there were
=mere= same the same sort to be ht forward.
Sone Irroames.—A =grant, &whir, was
aborted with bevies stolen • quantity of tickets, the pro-
perty of the North-Waft District Soup Kitchen Company,
Park use. Clark, the secretary, said
the t with • great number of other penes, pigs to
the for soap. It was the practice to give out soup
for polies Who brought their own vowels, and let others eat
mug me the psemiste. Beneath the bar hot which the soup
was owed • qmsatity of &lets were deposited. Witness
dinewiered the prisoner in the set of taking away a handful
dame dads, upon which he seized his hand. sad the pri-
orsaseseemed them about the floor.—Mr. Hardwick said
ebail=se exhibited one of the evils created by the
at these soup kitchens. He did sot intend to
&INS lbatthe meals, of the parties who established this
egedeeedesief was good, but then the complete want of discri-
mieglies which characterised the issuing of the relief tickets
weepedeetive of much =whist. Any vagrant or idle charm=
could =tali one of these tickets from a =Scriber, without
any isquivy being made as to his being a fit object for cha-
rity ; and what was this but an encouragement to bad the.
rasters and a premium to pauperism )—The secretary said
the soaleti intended to make an alteration in their regula-
tions, an not to fad =plies= on the premises. This, he
would do away with this salvos of complaint
-
-Mr. said, while magistrates were doing all they
could to suppress mendicancy, and to return Itinerant va-
grants back to their ppleas of settlement, these soup-kitchens
and charitable oapbfiimonte were counterfeit= their oh-
jees by callertfwg bees distant quarters all the idle and des-
titute, sad eamesersting them in the metropolis. He would
commit the obese" for • short period ass vagrant.
WESTMINSTIE.—Taz Cess eP Derrtrorion Ix
Warnenerisi.—Tice magistrate intimated that circum-
stances have tranegked to show that, although the destitu-
tion of the Wilisma family entitled them to the utmost
sympathy, their tee=ms eldest has not been of such • de-
scription as to merit the regard of the public. In come-
gam= of this, two ar three persons who came with contribu-
none were Wooed to withhold them.
SOUTHWARK.--fixnuto SPIRITS AT THEATRES.—
Mr. Shepherd sad Mat Vineent, the lassoes of the Surrey
Theatre, were samstoaed he unlawfully selling wines and
spirits in the saloon of that theatre, not being licensed. Mr.
H. B. Roberts said, that he appeared on behalf of Mr.
Hods, the lendlord of the Equestrian tavern, Bleekhriars-
resi, who liminglit the present case before the public for the
paled= af lies trade in general. It was well known that
at Sleet af rs theatres wanes end spirits were publicly dis-
posed of in the salocos, to the great injury of the licensed
=Wm= It was an infringement on their rights, and did
them ea immense injury. The complainant kept a public-
ity= ant es the Surrey theatre, and for his own protection
be made lita present complaiat—B. J. Eliag said that be
was on gibes, of the excise attached to the office in the
Ebefthis-road. Oa the evening of the 26th of December
bet be went to the !ferny theatre, and while standing in the
Sim he heard several persons calling for gin and water,
Whisk they were supplied with. Witness was served with a
glare of sherry. The liquor and wine were served openly
at a counter. Mr. Husphries, for the defence, said
his clients had let this saloon to Mr. Payne, •
person who was licensed as a wholesale dealer, and he con-
tended that he wasjustilled is accommodating the public at
the theatres.—Mr. Seeker said be should fine the parties
M. Is., whisk would enable Mr. Humphries to appeal it he
thought proper.—Mr Humphries said it was his intention to
appeal at the next quarter sessions at Reigate.
ATTENPTID MUNDIR THROUON JZALOUST.—E. Harris
was re-examined, charged with attempting to murder Eliza-
beth Styles, by stabling her in the head and body with the
sharp point of a pair of muffers. Both the females, it ap-
peared, are woes= of the town, residing in Tooley-street,
and on the pervious evening they quarrelled about • sailor.
—A pollee-constable said that he was attracted to the com-
plainant's
toddling@ by arise of " Murder." He found the
complaisant lying on the ground, with blood flowing from
her bead aad neck. The prisoner was beating her and stab-
bing her with spit of snuffer., which were bent and co-
vered with blood. He wrenched them frees her, and having
secured her, conveyed the complainant to Gay's Hospital.
He produced • °snidest*, stating that the wounds were dan-
germs, and inflicted with • sharp instrument—The prisoner,
who said she acted in self defence, was committed for trial.
CH oacielurns. —A letter was received oa Friday from
Mr. Hooper, the solicitor to the churchwardens of St.
George the Martyr, contradicting the statement made by
Mr. Bina'. the particulars of which appeared in the Daily
News of Taare&y. He states that the appeal of two of the
rate-payers was allowed to be quashed bmunial cenesat. as
the appellants intended to go to the Es.a lmisel One%
which the churchwardens hilly agreed to, that being the
place. Hr. Hooper also states that nearly the whole
protest
rate had been collected with ease, and that only a few
mood out a%ainst it.
LAMBS H. CONSPIRING TO CELT AT CARDS.—
A person whose name did not transpire, applied to Mr.
Norton for his assistance under the following dream-
stances.—The night before he had foolishly joined a
party to play a rubber at whist, and his adversaries fre-
quently endeavoured to get him into • bet upon the game,
but for some time he refused. At length he took up a hand
which contained all the honours, besides the ten of trump,
and his opponents continuing to taunt him about batting, he
was foolish enough to bet 101. to 11. that he and his partner
got the odd trick. This be was induoed to do, not so much
from the hand he bad got, as the declaration of his partner
that be held two or three tricks, and not having 101. about
him at the time, be deposited his gold watch, worth twenty
guineas, in the bands of the waiter, against a sovereign. His
opponents woe the game, owing to their holding a number
of small tramps. He sin= found that his partner, instead of
being what he represented himself to be, a stranger to the
other two, was a regular confederate.—Mr. Norton told the
applicant that if he thought the parties had leagued together
for the purpose of defrauding him, he might give them into
custody, but he must do so on his own responsibility.—The
applicant said he should certainly do se.
THAMES —MURDSItOUS ASSAULT ox TR' Portcs.—
M. and Margaret Donovan were charged with •
murderous assault on the police, while in the execution of
their duty--Polies-constable Smith stated that about half-
past four that morning there was a disturbers= in Star-alley,
St. George's in the East, with the prisoners and several other
Wits= directed them to be quiet, and go in.
Callefused to do so, and the female prisoner struck him a
This= blow on the nose, which bled profusely. Witness
want to the door of No. 7 to take her into =star, and she
aught hold of him by the collar. Her husband waisted her,
and they dragged him into the pomp of the house, Slid
dosed the door. The male prisoner then struck him • wit).
lest blow on the side of the head with the poker. The
candles were put out, and he was beaten most severely by
them. Police-constable John Pitts succeeded in opening the
door, and rescuing him. They both took out their staves in
their defence, and the male prisoner wee struck several
times, and wits= bad great difficulty in securing the pri-
soners The kaiak prisoner's husband also struck witness,
but he had made his escape.—The prisoners mere remanded:

MONEY MARKET.

SIT JIDIT ETIIIIING.

Symptoms of weakness appeared in the funds to-
day, sad prices receded from the morning's quotations,
though but slightly. Consok left off 891 to 1 both
for mosey and time, having been done as high as
90 and as low as 891. The transactions were, how-
ever, on but a limited scale. Reduced Threes, 891
to 90. Three-ands-Quarter per Cents., 901 to 1.
Bsohpusr Bills, 445. to 475. prem. India Bonds
were 44a. to 465. pr m. Long Annuities, 83 to 13-16.
Bank Stock, 1881 to 1901. India Stock, 240 to 245.
The foreign market presented no particular feature.
The dealings were of inferior corsideration, but an
improvement in some of the more solid stocks may be
noticed. Brazilian advanced to 78 to 80. Belgian to
78 to 80. Russian to 103 to 5. Dutch Two-and-a-Half
per Cents. were, as before, 49 to 50; the Fours, 78 to
9. Spanish Fives, 16% to t; the Threes, 281 to 1;
Passive 31 to 1. Portuguese, 261 to 71. Mexican
were a 'fraction hither at 261 to 1. Peruvian, 48 to
60. Venezuela, 191 to 201. New Granada, 16 to 1.
The folio t calculations show the rats per cent.
per annum ded by the various securities cited at
the average of the prices which ruled to-day. Where
the asterisk (*) is placed, it is to be understood that
the rate Cl dividend is less the income tax.
mg. =row prim 491 yield put cent.l3 t
Tins per ant
Ziire=hie i••••••• II,V 3 "
i 14
=.lll= %lbws, 456.
" 14 4
(dividnd Sme set.)
Omit spiv. 7 id.)
Imades soldiell Woolard •4114.61 d ) 42 3101
Leedom sod Ildeillose(dl7.l $4l 914 33 w 3 14 31
In Wu Oman • iffh. 4 id.)
Imam err Nora Motors e(div. 7id ) 19$ 7 44
Mini *W. 611
Takla Welt IMitt *Ow. 7 0 4
Teen. Seworat. mid Derwlek *WT.
IL) ei 7 0
Advices from Hamburg of the 17th init. report that
mosey continued at 1 per cent. Gold was in demand
the day before at 437, and all funds and shares was
higher and in favour. Bills on London were quoted
lower, in consequence of such a number coming
from Vienna ,and other Austrian exchanges. From
this circumstance, and the continued despatch of
silver to Vienna, it was inferred that the Austrian
loan must her been taken by the Rothschikb
as pm tom* It would seem, hews:,

mote =le that a portion only of the
loan have been contracted for, and
dealt with, in the first instance, since in the present
state of political affairs, and public credit on the crn-
=eat, the =tire loan of 80 million' of florins wanted,
and proposed to be raised, by the Austrian govern-
ment, could scarcely be placed in the moneyed markets
of this country and the continent. The continued re-
mittanoes of silver from Hamburg to Vienna were
creating some apprehensions of a scarcity in the
former place.
Short paper was superabundantly held by all the
discount homes, with but a small amount of active
business to take it off; so that holders could hardly
realise the money paid for it. Three months' paper,
therefore, commanded a preference, es affording more
time for the restoration of commercial activity, and
greater facilities therefore for disposing of it to better
advantage. Sugars and coffees had a good market,
and holders were asking better prices. For grain
lower rates were ruling. Some considerable pur-
chases of "pater had been made on speculation, and it
was in favour at higher prices.
The city of Berlin was in the market fora loan of
one million of tbalers, which it was supposed would
be taken by the house of Heine, one of the partners
of which was then in Berlin on, as supposed, that
aoco-int.
The Frankfort papers state that better regulations,
have been enacted by
i the government for the im-
provement of the law n Prussia in respect of bills of
exchange. The legislation on that head had been so
loose as to lead to evasions and irregularities in the
payments of bills at maturity, which could be readily
practised by unscrupulous persons. The new law is
made to =imams the practice with the more stria-
gent regulations of other states and great commercial
cities in Germazy.
Advice* from St. Petersburg, received at
Hamburg, reported a brisk demand for sugar. Up-
wards of 6,000 boxes of Havannah had changed
hands at 284 for middling, 29i for good, and
30 for best. Higher prices were then asked, and it
was =pried would be obtained. The stock of
Havannah was 26,000 boxes, more than half of which
was in the hands of one refiner. The last circular of
Steiglitz and Co., on the let of December, gave the
total stock of sugar then at 965,182 pods, which, it
was conceived, would be sufficient supply until the
new crop should come in.
The overland mail from India brings accounts from
Batavia to the end of December. Much discontent pre-
vailed there on the receipt of the sharp rebuke from
the King of Holland, and the home government, in
answer to :he moderate and respectful requirements of
all the respectable colonists, in public meeting as-
sembled, for certain political and social ameliorations
to which they considered themselves equally entitled
with their compatriots of the mother country, such as
the freedom of the press under certain restrictions, the
establishment and extension of an educational system,
with the right of repreeectation for the Dutch in InCia
in the legislative chambers of Holland.
Commercially the complaints of grievance were not
of a less forcible character. By the constitution of
the Maatachappy Company in Holland,in which the
sovereign, like his late royal parent, its founder, is the
principal partner, the export trade of Java and Dutch
India was constituted almost a monopoly in its hands,
and for its sole profit. Much as industry was ag-
grieved by this monopoly, commerce was not less
oppressed by the privileged competition to which it
was thus ruinously opposed. Imports were subjected
to ruinously low rates, because the exports were
mostly monopolised under privilege by the factory of
the company. This was not the least of the evils of
which this company is the cause. Thegoverument have
a bank established, whose notes it is anxious to force
into general currency. To this end, in concert with the
Handels:Maatschappy Company, it has not only pro-
hibited a specie currency, but refuses to sell bills on
Holland to merchants having to make remittances, as
formerly, was the case. As the bank-notes have
neither circulation nor credit out of Java, and private
bills of adequate credit were extremely scarce, and
=negotiable anywhere but in the place on which
drawn, if even there, the result was that mer-
chants had their cash-boxes full of this bank
trash, which was comparatively useless and valueless.
All these vexatious pros, edings were, moreover, in
flagrant contradiction with the positive undertaking
of the government, on the establishment of the bank,
to redeem its paper money thus received in exchange
for goods sold under the impression of its good faith,
by drafts on Holland whenever applied for, •in ac-
cordance with the guarantees given." These griev-
ances merit the attention of this government, since
evidently many British merchants, and British com-
merce, most be among the severest sufferers.
MAIM FUND&

Beak Ito* MI ei 90
3 per 06 is& *am. 89!. 90
3par 06 03186. Areas.. R,i 90 888
Mow 18 par 01. Alum. tU 1
Low Arame. SIP. Jon.. 1, 1800.
DI 30 Yap. UP. Jan, 5. 1880.
8 7-16
LBW& Stock, 940 6 _

fail; )Bade. £1,00046
India Bonds under 41,000. 46 7
South Sou Stock. Bt.
Wan foe nest, Bel SR
Kzeiumpur /LIM% 3J.,
June, 47
Ditto, ABA VI.. June, 47 4
Wier Yid., March. 46
St, June. 47 4

•
FOREIGN
5 per Ct. Binatilan Bda.. Proall. 78 0
per CR Evader Rds.. 311
1 per Ct. Green& Ilde,Deforred.3i
=Gent. Mistait3ii.l4l
per Acct.
e0..2*1
6 *Ct. Peruvian Btlx., 49 9
ASIMISDAIL Jal. 19.—Act. Dot
Oft ; Ditto, Three per Conte. 686
7119 Zest Indian Loan. Four pa
London. 12.02; two monies. 11.97.
Pula, MSG ; two mouths. 58.43.

FUN Dit
5 per
103 SC. Damian 18!. £ Bt..
6 per Ct. Spanish lids.. Acct.. Jan.
31.151
3 per Ct. Spanish Eds.. Acct. Jan.
31, 2/36
4 pot IX Dutch Certificates. 786 8
Tweande.lialt
peper Coma. 49
Dito. roar r Centa. 75;
w Cants.,t 741 756. Exchanges: (In
Hamburg. 34.93; two montbs,34.BL

RAILWAY NE WiSeSATURDAY.

We have little alteration in prices to notice, but
the dealings in shares were lees active than of late,
and generally the market was less firm. There were
indications, however, of a disposition to invest on the
part of the public.
HBARE LIST.-LONDON, JaNuLaT 20.
No2a-Tb• iloototkon of lime In Roman chassetars denote actual
tialanlattlont: those et lines in Italics sellers' Woes.
PAID. PAID
64 Madam • Di 60 London &S. Indent 41 43
61 A Dad.il4o 41d Do.New.6ol. ..... l2 10d
10 • .
folk 1, .„ 34 • Do. Rem 401.-- U 9d.
pd.erut.4 • " 1..." 50 Do. Coen.
Teethe- 11 104.
10 I.p. 40 Do. do. Tadka. .. .! 11 9d.
161 llka. ja= lei al 16 Do. Tblrde lll
al Pkgs. a OP. 141524.1. 1 pail....B:turent47 Pv. a
1 aisDtga.6 .oweedl e I Op. cf.
=.ll...l=Pdro,
10 _ . 251 e .l. mo, *Yeovil 5 oat
4 Dseleofinms ,41 * 40 Mem, Doze. i Mal. 3d. c.L
90 &doh d mid Sitter 24 24d. IN Mas‘i.. 111011..1.1ne.
27*, Do. flikde.. .19 le • Do. Mario leo. 1 6 bd. ed.
16* Bod*ORONWIL.. Id. ttl. Itt Do.
attio. 1 ff
6°
' " " 40 I k6ll.7lmari. Vali! C•L
4 wal, .....
s„
101 Midland . 9o* 90
so 0111§01t D. 21
U Do. ressweass .. 13* 100, Do. Cori .I.4i•f• .
26 I Do. 691 shares
44 DivestLetokrertera 100, Da/Arm& Derby 66 67
3$ %CIA 6 * 100 De.O.DeLkDr.BpC 126*
n a
a.r. ti I, 2 122,,Nire. (lrish!
111 Prf. i 4 corawir*a ciirlsek
IL.
II .. 1y 1 rawer
MAW
If mew Opot 11* Do. Marc
„... st 76
II pet.No.l 11 *ad. I Do. Em 3l
la. No. 2 km Ip.
10 Kartliseoll/0 I Do. Therde ••• • r
~. Do. as. spa. yea. st 64 Iforrolo .. ... - 40
1.21 Do. 4 shame Li 14 Do. 12weiii.. .... . 11 ts.
43 Do. do. Nay . ~.. par 2p. 6 Do 17.... 41 5
26 Easteni (Wes U. A zaZ s_p. Met 17 18
24 Do.. d0....ad0e Bld 13d. 1 Weekre 3la
Il Do. d 0.......... Cl 5 134. Nee* neareales.. 12 * 111
10 De.d.ser,. a Id* VA I ORAL 11rWe-al 1-ste. 24 26
14 . Do.tatElo,6PL7- 10 leead.euld.4 Deld. 101 I e.L
4 East lasasoire 1 44: ..t.
ii: =Sir. 141
tsil E I tut'. - • 11 1.1 41.1.
.......
ii dp o.Pr.f4 U. 161*p. le Zlise&ifie.N.lif 32 216.
9 Illiinint..olll6. cismA 34 &J.
M ewe. 12 44 # 11 De.'de,_ ii 4 34d. e•L
I Do. • . . 6 41. 1 I Do. ao. Nacr. guar. 0*
1 F;deter. 'bin. 1601i.e.1. 111 iffiroomMlogl eWM 1 2p.
1 9 I Do. Helm * Ip..
Ortab 44=819 81 e•L .1112 Do. Wok, i4l sta.
't *eL . 1 Do. Ara._ .. .. --,i Id
M. if 04.14 t 41. 10 Deediampest•Pref 344 141
• _....... st 10.1. ‘ Milos-IX 24d.4.1.
1.11. .
• Dt Tr.,- .112 14

pat._
otraw...
it:r ssits.
no. &at
Do ohms
D wig ****
I=.

I, 4)iiat. go
il3B i 26
:la 669. 14
.41L 430. SI
..18 113 p. 23
30
. l I
, ; 193 36
..1160 102 6
.. WM rol
.. 1n
-43 63 4

. ..... ,
a A..
do No. 2,
do
Do. do. We... 1'
ft,
DO.M.SVP. NO: 4
11sla..
i:tieS,Dat.eVide,
Villal.tLaiikiat,
War rift OpCt.gr
Do. do
Po. ''.

___
...ii - rasi. T:0
r
De. lr 110
Ds. 1 ld. 40,-,
Da
forOvairalidi r ... .
1:.,..„........7.7.11,".
p
Ikadftad 100 N 1
1
sad Think
Ma. ':6 2341. 6 ,
Dade Praaporql4l
laramtbaNa4l4"."ll44:2l U I
64 IS 1
it
LISXICII36 lel 110
I
DaCIagAINIA ad. 12
id= T
I Da IX= 1!4. 11 1
10 '
Idnisaill.W4•l929 IA 19
Da.lbire. L.& B. 1 9v 4
krilli • ll 101 9
si i t N
ra lik Al h gki VA
24 E
D&III414-.11116.13 b 24 Ap. 9 ;
IreAllii.JlLA V .3 41 4 Or

41 4
,m 6 6
10 74.
lii e.L
1
.41 L
71 1
le. 121 at.
5* 444.
6 641.

Mme
I
166.410 en. &Ws=owe 6
/*rt." 146.8t.i Be. 24
Do.erg.Newekßier V 6
DoldfolYkt Nw
Dodolfelltreßer 1 lx
DoGNEPtizaavel 11 I
WA a N. Midland 66 66
DO.Pralersses —. 10j
Daltit.lids.Na VI 1 1

loam, Lavas%

I Amokr-lialiow .. .4i SOL
icttkjwirre A.A.ilit. IS tte. es
Irsgalgatiiii:::::.: 64 51A.
1 Naar sod Lifts .. ii
Northam al Ypres 7 :e.d.
Orkin. a Bart 41 e.d.
1 Paris old Liffas... .1
D.A.. aa 6
Pork eitdls6iii..• ill te el,
I== ....IT I
=is
mg .... 9
31
tortegtwil Mt:: 8 79d.
!WM .....• 818 d.

MISCELLAN SOUS NEWS. Ebtllnenent AND l
NORTUELN.—The direeton have issued a repast to the durellsolders
of this line, preparatory to the meeting on the 31st last. They say
that in their account of capital they have omitted so muck as was
authorised to tie raised by the several nu el pariameut rued In
1844; and, with the exception of the deposit of 10,6771.. so much of
stette=tal at the Graz= acts of 1847 as relates to works the cu-
e which the directors madder should for the present be
defined. The whole of the capital so reserved is 240,3231. They
then state the share and loan capital authorised by the several acts of
the company to amount to 3,176,6221. 13a. ed., which they hare re.
Inked on share capital, on &neaten, aces rename acouunts and
interests, and by advances from banks and on other securities
(407,3491.13.3 d.) in anticipation of the regular calls on their capital
The expenditure and probable amount of expenditure to the compile.
Lion of the line is thus Mated : Os the main line and etratburn •
deviation has been already expended 1,020,3032 len td.; estimated
farther expenditure, 118,9541. 7.2 d.; total, 1,137,4581. 2s. 4d. On
the Newport extension, alreadyupended, 248,0171. Ss. lid. ; to be
expended, 21,8312 12e. lid.; total, 269,2711. 18e. U. Dunfermline
extension, already sunk. 784,4232 Ili. ed.; future expenses, 63,0881. ;
les. 9d.; in all, 329,5121.75. 3d. The lay Ferry has already cost ;
34,8881. Ile. 3d.; future car, 33,4211. 18e.• total, 110,1101. 8.30.
Burntieland and Greaten Feely, pastexpeodeture,ll7,oB2l.6s.; future,
70.5001.; total, 137,3472. Gs.; °melon works and station, al";
expended, 15,2741. 17s. 3d. ; future estimate, 4,7782 18a. I ; tot
20,0531. 15s. 44. Tha minellaseous expenees hays been 143,732 .
4s. 2d., and will be 12,7471. 10s. 10d.; total, 178,4791. 13a. Edin-
burgh, Leith, and Greeks Railway, expended. 419,7011. 10s. 3d. ;
to be expended, 4,7384 18s. 34.; total, 434,1311.11. id. These rims
make av animate et 11,016,0001. • being more than capital received
lay 338,3771.6 x. ed. Rat In this staimment the directors have kept out
of 'Oew considerable =itts=
tineluded in the former estimates
which the art sormants have acquired.
Much of thisimmeaney natter be realised, together with a claim to a
large eacount which the company, in right of the late Edinburgh,
Leith, and Greaten, lave spinet the Edinburgh and Glasgow Com-
pel, but lot which the dined= do not think right to take credit on
the present occasion. There is also omitted In the account of mired.
Imams extra expenditure the charge with reference to the purchase
of Riling and Dunfermline and Dundee and Northern Junction
shares, wake was fully considered and approved of by the share.
holders on previous occasions ; but in consequence of certain legal
precordings which have been adopted to prevent the sums paid for
these shares being charged againet the company's funds, the directors
have withdrawn tram the sternums all kens hitherto pissed to the debit
of the company in respect of these shares to the nmanUnte, and until
the company obtain from parliament authority to hold these shares.
On the other hand, from the authorised capital mud be deducted a
sum estimated at 221,0001., consisting of unissued stock, of
calls and arrears, which under present circumstances cannot
be made available, and which increases the total sum to be
provided for to 319,3771. es. Bd. After going over the va-
rious causes which have led to this Mate of the account, the
directors call attention to the sum of 4045491. les. id., which has
been caned in antirpation of calls upon capital. These loans were
effected, though with extreme reluctance, partly on the permed se-
curity of the tilrectors—who, during the late depression of railway
affairs, boding it impossible to realise asuffident amount from the rot
ruler calls, or to rain money en the security of the company alone—
had recourse to this step as the only means of carrying oti the affairs
of the Company, and bringing intoacUre operation the capital already
expended on the works. The directors adopted this noun in the
faith, that as they were influenced solely by a desire to protect the
I innate of their cou.stituents, the shareholders would not Mdtete to
unction their proceedings, and relieve them of the responsibilities
they had thus incurred. For the purpose of raising the additional
capital required, the director have considered the passibility of
avoiding the blue of preference shares; but whatever changes take
place in railway Meths during the enst:ing year_ , it
neap
pears to them that, at all events, it win be new&
wary that they should have authority I. adopt such
an expedient. Respecting the futon prospects of the company, the
directors state that, if the increased expenditure has disappointed
their expectations, so certainly has the experience of the past year
tended to strengthen their confidence la the resources of this railway.
' 'l'h7-y are quite aware of the great uncertainty attached to all estimate.
of railway teat& ; but taking the traffic or the last six months u a
kind of basis—looking to the imperfect state of the terminal mom-
' modation, to no convenient provision whatever being made for the
thorough traffic from the north—ooasidering that the goods traffic Is
' confined almost entirely to the locality of the county of Fife, and that
the means of acoommodatioa, even to that limited extent, is deficient
—that the neural traffic is but in its infancy—that neither iron nor
lime can yet be said to constitute any part of It—that till within the
last month, no coals could be delivered at Perth, and up to this ma
, ment, cone het* the Important market of Dundee—and that under all
these disadvantage', the traffic to the last tire months has averaged
20001. a week, derived principally from mangers, and that, too,
during a period of very general depression, they do not hesitate to
express their conviction that, provided the funds are raised to nom.
plate the math wake, so as to permit of the development in all its
ramifications of the mineral traffic of coal and iron, the revenue of
the railway must within a limited period be more than doubled. The
company is unburdened by guarantees of any description, and even
' the arrangement with the Aberaem Coaipany, although Others:leo in
the opinion of your directors an advantageous has been now
, abandoned in conseqUeme of Its having been fouud impracticable to
curry it out in consonance with the recommendations of the share.
holden at their meeting in October last. The length of railway and
; ferries now completed, is 781 mike.

LANCASHIRE AND YORHSHlRE.—Thedireeton of this line
bare published their observations on the concluding report of the
committee of shareholders appointed to inquire: " let, Whether the
capital and revenue accounts have been kept perfectly distinct, go that
that only has been charged to capital account which belongs to the for-
mation of the plant; and 2d, All that has been debited to revenue as.
count which actually arises from working the plant, and keeping it in
a proper state and working condition." The committee say: "The
conclusion at which we have arrived is, that the amount uebited to
capital, and which, with some few exceptions, has been properly so
applied, has not been maintained in its full integrity, and that, there-
fore, the amount distributed in dividends has been so far in reduction
of capitaL" 'the committee obtained the assistance of the superin-
tendent of the locomotive department on the London and North-
Western to make an estimate of the value of their locanetive pro-
perty. The result is thus given:
I Original Present DePre-
Cost. Valuation. elation.
111 Engines
IoG 'lenders
2,448 Waggons
379 Qtrriages 109,681 .... 88,029

1490,438 £413,438 174,918
The committee then go on to say Tithe locomotive engines
have been sold during the twelve months ending June 30, 1848, and
the amount of has to the company of 2,4301. arising therefrom lass
been placed to capital instead of revalue ; and we she find during
the same period one Ent-clam cantsge and nineteen weggons, the
cost of which when new was 1,7421, have been either brakes up or
sold at a loos uf 1,1371, which was also placed to capital instead of
revecue; and we also find that during the year ending June 30,1848,
O] miles of new tails were laid down, weighing 811 h. per yard, against
old ones taken up of 561 b. per yard original weight, at a nett cost of
1,8111. 10,. 74. per mile, and that the whole expense was
charged to capital, whereas, according to the principle
now adopted by the company, and acted Rpm since June
30, 1848, and which we believe to be nem what la cor-
rect, 8041. 10e. per mile, or a gross sum for this year of
4,623/.175. 6d. fur 31 miles of single lines, ought to have been debited
to revenue on account of depreciation by wear and tear in producing
Income of rails taken upP. The result is, as sleeting the year's as.
counts, that for less on Woomotlvee, 2,4301. i_eirltave and waggosa,
1,1371. • and permanent way, 4,6231. 17s. esi.• the farther sum of
8,1921. •17s. . ought to have been deducted from theme before the
balance was held lobe distributable as dividend. Add to this a further
sum of 9P61. es. 9d., Ming the amount of halt a year's rent and ince.
rest paid for improthetive lands held by the company, and which has
been charted during the last half year to aspital, issu ad of, as for-
merly, to revenue, and we have a grow Pall of 9,1791. 4a. 3d. charged
to capital instead of revenue during the year ending Ji ne 30, ISM.'
Further the committee declare they have come to the conclusion
that the rate of dividend which has ilea paid since the opening of the
lines to which this report is connaed, bee exceeded, by one-half per
cent. per had year, what ought to have been divided among the pro.
prietors of the company, and still retained the integrity of the capital
stock. lbalf per tent- half yearly would have left 133,9141. le. ltd. to
have covered depreciation, and justified the confidence that in the
payment of the half yowly dividends, a dies regard had been main-
tained topreeerve the capital of the company entire." They suggest
that to cure this evil the directors should lay wide each succeeding
half year half per cent. of your net income, to provide for depre-
ciation, at least until the capital stock of the company shall
have been Indisputably restored to its proper and armee-
dited value, besides continuing to charge the expeme of
the permanent way upon the principle you have deter-
mined to adopt since the expiration of the last half-year, and
maintaining the locomotive portion of th., plant In full effi-
ciency. By them means you will gradually restore every part rf the
plant to its proper value, and have a reserve fund at command for
all those contingencies which mu.t continually anise in working so
large a concern. Finally, the committee de tare their belief that
any departure from right principle in conducting the accounts
of the company has arisen from the immure of circumstances,
and not from &Wm in which we include the extravagant
expectations of sbar to receive large dividends, and the sud-
denness with which railway concerns have risen into gigantic magni-
tude, and by their powerful and impetuous force urging onwards at
any risk their promitn and directors, rather than allowing them the
opportunity d carefully canvassing and defining the strict limits
within which they an with safety be conducted, and of imparting to
their management the advantages which time and experience arc
wont to bestow.

The Du.xcroas, in reply, say: "The committee report, that to the
accounts of the year June 30, 1648, they find a sum of 2,430/.,
and one of 1,1371., with which capital ought to have been credited
and revenue debited, on amount of lute arheag from the sale of old
engines and the tweeking up of old wawaa in that year. The com-
mittee also report • medlar care in the permanent way account to
the extent of 4,6251. With r. gird to these items, the directors beg
to remark that the omission its transferring them to revenue account
was dimmed by them several weeks before the sitting of
the aniedttee, and Immediate steps taken, ae then re-
seed an their proceedings, to prevent • recurrence of
the ewer. They may also date that they drew the d-
ismiss et the committee to them plots at the tom.
messes of their labours, and shortly after pretested statements,
deserteg the total extent, from the first opening at the line, of the
ewer maw the three heeds of engines, carries's, and magma. The
stemedelise have reported 3,5671. ea having arisen in the year ending
Nth Jena, ISO. The total amountdurdsr the six previous yearn was
MOH. In the permenent.way endemt the committee istimate that,
Y the six years not reported on by them, an aggregate of 22,5751. is
due from revenue to capital. dmall as these amounts relatively
are to the aggregate of dividends paid (being lees than one-el: Mb
pee mat. per kalf.year), the directero regret that any such errors
should here passed undetected by them, for any length of time.
The committee include with the above sums an amount of 1861.
for rents and interest cm unproduedve land, as properly chargeable
to revenue. The directors respectfully dissent from this view,
conceiving that, as the land grows in value, the estimated Increasela
11,744...., to the credit ad revenue in capital account The second
on which the committee meet, refers to the import.
eat quattinen depredation in the waking stock and permanent
way. The Amster have pursued the report otter. Woods, to which
the committee rages am the haserks of ilear restasicei; but the di.
rectors ,
a
qmedea the weft of thewrlnftle odor ed by the committee.
particularly as word So eamerW Mr a argles proprietarynd
°honer mesa es renew maintsidep haw firms Mt. There
eaDtaisieglis aswhollyaillhirt revene"Willhilei welded*. Munitletock sold ilamategYpermenenuuda-t way
in the Milo d ellasemy mart seedeolve to Mile ant true economy.
Theorises fah, ressudso this grieve as constia to a true deter-
s:Motion of peer bat the ark ammed la their revert
that ths emir se aperialish to le mar good is the whole money
Mimes berm the °rights' eat of the rook sad the value *hen
bursa up or destroyed, while the dream, Is mordere with the
views espleined In the half- ty report al gopereeher, 1146, and then
sailetiened by the have promeded cm the principle,
that topreerve the extra of the plant and property ef the scomoany In
a meet waking condition, at the expense of memo, Is to Mater
praelsolly the mit"! stock. Railway oonmecirr, with scarcely an ex.
curs, have acted on the latterrinciple, decidin that° replaceout
01 mime an engine, carriage, or rail, when worn out,g by &similar one
(new) at Its cad at the date of repimeesent, or if not similar, then by a
value th some other form 'guinea to the cost of such new one, d
= day to maintain the capital NM of the company for all bens.
P Other midendom aro alba the question, at least
in the=BMapenies, Ming ea of the Wdequare provision for
, durability be the early welkin MUM rads. Had these been con.
Muir maw Seeet m of the knowledge now acquired, capital
would ham bane mof the rowmetered, roused meta and and
remora wear have bra amp he se mar et the working ex.
pewee es ea treatable to i—d,emel &Reds in the oina: stock,
=a mines ropimameat at re cgrevenue wt t have been
The 75,41101. of mamba doe, arrived at by Hr.
Woesige resiming,„ hem the aIWY cod prior, or the dill larger
by the esmittes as required to make up the
eaTit:7lVeleagany, thirelbreviewed by the directors repetel-
mates only, quite oopgenea he • dillmem ce opinion; and if the principle
on which the dlraetre have rearcri is correct, a considerable re.
dorm in either era ma bathe malt. The directors meld at the
same tire remark, in repeats the pee which the ocausittee
have soggetted to in set aside ft 'over that min to the
error an the dividends ct the Mir Mims which wee overlooked in
their • reserve of s.sMi, Wed et carbile per mt of
the bile-yearly word ham Milted the am they have
arced. Is sondradas. Mere" lake the opportunity et express.
he trier Milptionte the seeamdthe la the peat labour they have
bestowed ea re havoldelikr mad he the Nada statement of

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