The Express.
London, England, 1867-01-22 00:00:00

THE POLICE COURT&

MANSION-HOUSE.

Joha Turner, an elderly man, having the appearance of
a respectable tradesman, was charged before Mr. Alder-
man Salomon (who sat for the Lord Mayor) under the
following circumstances :
From the evidence of Frederick Glidden, constable of
Leadeuhall-market, it appeared that about six o'clock on
Saturday evening, from information he received, he was in.
duced to follow the prisoner, who was in the act of leaving
the market, carrying a leg of pork in his hand. He asked
the prisoner where he had purchased it, on which the
prisoner smelt at the joint, and said as it was not nice he
should take it back. The witness said he would assist
him, and brought the prisoner and the joint back
to the shop of Messrs. Jeffries and Son in the
market, when Mr. Jeffriee denied that he had sold
the joint to the prisoner, who was accordlngl7 taken
into custody, and charged with the illegal possession. At
the police-station the prisoner repeated that he had
bought the joint from Mr. Jeffries, and had told him at
the time that he could not pay for it until the following
Saturday, on which Mr. Jeffries told him that he mu.t go
to the counting-house and arrange that matter with his
son. When stopped with the property in his possession,
the prisoner was leaving the market, and not proceeding
in the direction of the counting-house ; and further, Mr.
Jeffries bad denied that he had given the any
such directions, as he was never in the h iab of trust-
ing Saturday customers. The prisoner gave a correct
address.

When called on for his defence, the prisoner said he waa
the worse for liquor, of which a small quantity took a
great effect upon him. He besought the alderman to in-
flict a fine, as he (the prisoner) had an important job of
work to go to at Deal.
. . . . .

Detective-olficer Pannell (who happened to be in court
on other business) informed the alderman that be bad
known the prisoner very many years as a respectable car-
penter and builder, and he was surprised to see him in his
present position.
Mr. Alderman Salomqns advised the prisoner for the
future to abstain from intoxicating liquors, and sentenced
him (for the unlawful possession) to pay a 6ne of Is. or
in default seven days' imprisonment.
The penalty was paid and the prisoner was discharged.

LONDON PINAIVCIAL ASSOCIATION (LIMITED).

The seventh half-yearly general meeting of the
shareholders in this innineintion WAS held yeatenlAy attar.
noon at the Baltic, Thielulneedle•street ; lir. Y. 1.. Itoi.o.
CANACHI in the chair.
__

The Sxeitersar(lll r. Koch) baring read the notice cot.
vexing the meeting, and the minutes of the pre% be.
meeting having been contirrned,the report, which has been
already published by us, was taken as read.
The CHAIRMAN. in moving the adoption of the repot?,
said it was one which the board believed to be honest and
true in every respect, and he thought that with the ex.
planation' he had to offer they would he perfectly satisfied
with it, and adopt it unanimously; and not only so, but,
considering the extraordinary difficulties they had bad to
encounter, they would on the whole deem it a very satisfac.
tory statement of their affairs. He need not take up their
time by going at anylength into the history of the panic, all
that he would say was that from June to December things
had not improved in the City at all, so far as railway pm.
petty, with which, unfortunately, the London Financial
Association had been principally connected, was contenell,
for in consequence of some disclosures of niinuanagement
in regard to certain railways, the public seemed te have
taken fright at all railway securities, quite forgetting that
there were 450,000,000/. of railway property in this
country paying good dividends, at all events so far as
almost all the main lines were concerned, and it did net
follow that because one or two of our principal railways
required more money than was originally anticipated,
every new railway was a bad property. But they no;
only had to suffer through that panic, but from the effect
of malicious rumours which bad been circulated that their
securities represented spurious railways worth nothing at
all. He need not tell them that they had very great difii-
cultic*, and when contractor after contractor failed to meet
his engagements in consequence of the bad times, they had
to look more closely into their securities, and in some in.
stances they had to find the money to place lines of
way in the position of good paying lines ; and iu othera,
where their interests were better protected, they had
added directors to the boards of railways in which thq
were interested. (Hear.) In one case their menagerhad been
placed upon one of those boards, and in another one of the
new directors had kindly consented to serve, so as to
see that their property was well cared for, that there were
no Lloyd's bonds or over-Moue of debentures. (Hear, hear.)
Their examination bad been very strict, but so far be ina
happy to say they had not discovered that they held a
single spurious security. In order to be quite on the right
side, they had provided for all possible losses by bad
debts by deducting from their assets 170,6149/.—not that
the money was lost, but in enter to provide for such mat.
tern as might not be immediately, but would ultimately
be met. He did not anticipate (having regard to the public
feeling at the present time) seeing many new lines made
for some time to come, but he had no doubt that the ma.
jority of the lines now constructed were bona
fide good lines, and if the shareholders co-operated with
the board he hail little doubt that at no distant period
they would be able to realise their securities advan•
tageonsly, and that all the shares which represented public
works would pass into the hands of bona fide investors,
and that the company would again be placed in a very
satisfactory position. (Hear, hear.) The principal object
of the report was to inform the proprietors of the exact
state of their affairs, and they would see at once from the
accounts that they held 1,447,9111. worth of securities,
and those securities being spread over so many lines, every
one could form his own opinion upon them, because if the
board had been deceived in one or two or three lines, it
was not at all likely that they would be in the great majo-
rity, so that it was evident that they possessed a real
property, which there was every reason to anticipate
would become valuable if the shareholders helped them to
keep their engagements, and abstain from realising until
public confidence in this description of property was re.
stored, when they might realise at far greater advantage
than they would if they attempted to do so now. (H.r,
hear.) Although they held 1,400,0001. worth of securi-
ties, he wished it to be understood that the nominal
amount of those securities was a great deal more, being,
in fact, 2,400,0001.—1 hear, haul—which arose from their
having estimated them at the lowest possible value. With
these remarks he begged to move the adoption of the
rerPauxt. M.P., seconded the motion.

After a long discasoon, -----
The report was unanimously adopted,"and a motion
for the addition of three directors to the board Itaing
been withdrawn, it was agreed, on the motion of Mr.
Galsworthy, seconded by Mr. Slater, that the question
of the directors' remuneration should be considered, and
that special meetings should be called to discuss the pro•
priety of altering the articles of association in reference
thereto.

The retiring directors, Mr. Rodocanachifund Mr. Fraser.
were re-elected, as were the auditors, Messrs. Ball and
Tucker ; and a cordial vote of thauks to the chains=
concluded the proceedings.

MA

RKET&

LONDON WEICIELI

DOCK B.STURNS.—JAN. 19.
[world. Delhat Irr.Btock. lyti.