The Express.
London, England, 1867-05-02 00:00:00

THE EXPRESS, THURSDAY EVENING, MAY 2, 1867.

with a ruffian, a swindler, a garotter, or an expe-
rienced victim of undesignedassaults.
It is no business of ours to devise machinery
for remedying the evil, but we must take leave to
observe once again that it is not inseparable from
railway travelling, for there are several countries
in which none of these dangers can occur. In
the United States, for example, and in Switzer-
land, the carriages communicate by doors, and
guards frequently pass up and down through the
whole length of the train. This acts precisely as
the presence of a policeman on his beat. There
is no danger of assault, for the door may at any
moment open, and then, even though the victim
should have been overpowered at once and unable
to make outcry or resistance, the guilty would be
caught redheaded in a trap. In this assurance is
found the perfect safety of the most helpless and
unprotected. And in the knowledge of this safety
lies the safeguard against the trumping up of false
accusations. What is thus secured to the
traveller in these republics may be certainly
as easily secured in our realm, if our directors
will only be good enough to cease giving them-
selves so much trouble in proving it impossible.
But if they are incurably perverse in the belief
that what the public like, and what coaxes traffic,
is the possibility of being locked up tac-d-Nte with
a felon or a too-expectant prude, we must
hope that the shareholders will take the

matter into their own hands. They at least
have not the security of special trains, or of
special attendance, secured by the wink that con-
veys the intelligence to every official that a director
is in a certain carriage. They are subject to the
accidents of meaner humanity, and their care for
their own persona is in harmony with the interests
of their pockets. If they will make travelling
safe they will have more comfort, and better divi-
dends. And they can do it, by making this a

" Government Measure." When directors are
elected expressly to make railways fit conveyances
for persons of civilized habits and decent morality,
they will very soon find a practical way to carry
that purpose into effect.

no doubt, a bill will have been obtained which will fulfil
the demands of the liberal party, and by which they may
fairly be bound. Then the question of reform, for oar
time at least, may be considered as settled. But "H. "
very much doubts whether such a course will be adopted.
No one believes the house to be in earnest about reform. I
They have dethroned Mr. Gladstone because they knew I
him to be in earnest, and have rallied round Mr. Disraeli
for the very opposite reason, but behind the House of
Commons there remains an indignant people. " H." con-
eludes with an argument in defence of the course which
Mr. Gladstone has adopted, and with observing that the
fabric of the tory system is at all events ruined to its
foundations. This time it is not a party which the tones
have destroyed, but a creed which they have annihilated.
They have evacuated their Sebastopol ; let us take care
irretrievably to blow up their stronghold.
Treating of the probable order of the parliamentary pro-
ceedings on the bill, the Daily News apprehends that in
the unexpected event of Earl Grosvenor's persisting in his
amendment, its rejection is certain. In case it is with-
drawn, Mr. Ayrton's motion for the reduction of the re-
sidential qualification will be proceeded with ; and now
that it is Mr. Ayrton's, and not Mr. Gladstone's amend-
ment, the government will not consider its success fatal
to their measure. The principle of equality in the quali-
fying term of residence once acquiesced in, it is difficult to
see on what grounds Mr. Hibbert's amendment can
be declined. However, all improvements which are
subsidiary and subordinate to the principle of the
government measure are but superficial and in-
cidental. The bill is in its essence vicious. The
clan which the compound householders' clause will
bring in is the class which Mr. Disraeli thinks may he
made use of for tory purposes. Household suffrage in
small and rotten boroughs, and the introduction of such
compound householders in the large ones as the local
agent can answer for, arc the ends at which he apparently
aims. A residence of one year will answer his purpose in
this matter better than a residence of the two, as giving
him a larger range of choice ; and Mr. Hibbert's
clause will extend facilities of enfranchisement to the
corrupt and wholesale manufacturer of votes aa well
as to the honest individual claimant. tinder such
circumstances, it is for the responsible leaders of the
liberal party to consider whether they can combat
a dishonest and illusory measure of household suffrage
with any other weapon than household suffrage pure,
simple, and hcnest.
The Standard says there is not a man, in the honesty
of whose reform professions anybody seriously believes,
who is not anxious that the measure now before par-
liament should be pursed this session. Even as it stands,
every honest reformer would be glad to see it become
law. Nevertheless, our contemporary thinks it prudent to
warn " tea-room" liberals that if they should desert the
government in an important division, a dissolution of par-
liament may be expected.

LATEST INTELLIGENCE.

WAR NEWS.

Notwithstanding the acceptance of the Congress
the preparations for war do not seem to bo re-
lased. A letter from Kehl, in the Mintier dui
Bas-Rhin, says:
Lieutenant-General Wear; has been appointed Governor
of the fortress of Rastadt, and numerous other changes
have been made in the officers of the higher and lower
grades. Military measures Are in progress all along the
Rhine. General Moltke has arrived in Mayence to
inspact that fortress, which he did most mi-
nutely. It is said that a corps of 10,000 will
be stationed there. Front Coblence we learn that
Lehmann and Co., who were the contractors for the supply
of provisions to the Prussian army in the recent war, have
arrived there and made inquiries from the merchants re-
specting their means of furnishing provisions on a west
scale, and also with respect to the number of hones that
could be supplied.
The Berlin correspondent of the Tinsel writes :
The pacific turn in the policy of this cabinet, so far
front causing military preparations to be viewed as super-
fluous, has, on the contrary, been accompanied by a stir
in the War Department greater than before. General
Moltke himself has repaired to Mayence to supervise the
armament of the fortress destined to playa moat important
part in the event of war. At the same time the journal-
ists of Mayence have been summoned before the autho-
rities, and prohibited mentioning any of the measures
going on before their eyes. In Scbleswlg-Holstein and
Nassau, where • conscription was to be made in June,
recruits have been ordered to join in the beginning of May;
in Electoral Hesse the reserves are on the point of being
called out for drill ; and in Konigsberg • number of
Landwehr artillery officers, ordered for service at this
unusual time of the year, are busy practicing the
management of the new rifled guns. While these
facts are reported from the various parts of Prussia
we learn that the reorganioation of the cavalry, so
long expected and so often delayed in the minor States, is
in progress in Mecklenburg and Bavaria. It seems also
correct that 10,000 needle-guns have been lent to the
Grand Duke of Darmstadt by Prussia, and there can be no
doubt that Berlin firms who have undertaken to provision

the army in a Western campaign are looking out
for sub-contractors in Rhineland. Prince Ludwig
of Hesse, the new commander of the Darmstadt divi-
sion, and General Bothmer, the new quartermaster-
general of the Bavarian forces, have been summoned
to Berlin by telegraph. Generals Bus and. Kra-
/wizen, the commandants of the fortresses of Landau and
Germersheim, situate in the Bavarian palatinate, close to
the French frontier, have received equally summary no-
tices to repair to Munich. General Waag has been ap-
pointed commandant of the Baden fortress of Rastadt, a
post which since the dissolution of the old confederacy has
bets only nominally filled. I may couple this intelligence
with the fact that steps are being taken to insure the ser-
vices of American privateers against the French mercantile
navy.

(REUTER% TELEGRAMS.)
FRANCE.

PARIS, KAY 2.

M. Jonas yesterday presented to the Minister of
Foreign Affairs his credentials as chargd d'affaires
for the Grand Duchy of Luxemburg at the French
court.

LONDON AND SOUTH AFRICAN BANK.
(THIS DAY.)

The sixth ordinary meeting of the shareholders
was held at noon, at the London Tavern ; Colonel HOL-
LAND in the chair.
The following report and accounts were presented :
" The directors beg to submit the annexed statement of
accounts for the year ending 31st December, 1866. After
deducting all charges and carrying 8,0,10/. to the amount
held against past due bills, the directors are enabled to
recommend to the proprietors a dividend of 8s per share,
which with the payment made in November last, will be
four per cent. for the year. In their last circular the
directors stated their conviction that a large amount of
borrowed money could not, in addition to their capital of
500,0001., be for some time to come safely employed
in the colony. Acting on this belief, which subsequent
events have fully confirmed, they have effected a further
considerable reduction in the deposits bearing interest.
The policy of the directors in discontinuing branches, at
which there is now noprospect of *sufficiently remunerative
business, has been further carried out. The result has
been to bring the operation' of the bank under more
efficient supervision. During the late commercial em-
barrassments the business of the hank has necessarily been
restricted, the directors having been desiroua to avoid all
transactions which were not of an undoubted character.
The directors who retire by rotation are Messrs. J. H.
Lance, T. W. L. Mackean, J. It. Thomson, and J. Hogan
who being eligible, offer themselves forre-election. it will
be necessary to appoint auditors for the ensuing year.
" Statement of liabilities and assets, London offices and
branches, December 31, 1866. -Liabilities.-Dr. : Capital
paid up, 506,000/. ; circulation, notes and bank post bills,
14,894/ Is. ; deposits, 228,218/. 6s. Id. ; bills payable, and
other liabilities, 74,2:W. 4s. Bd. ; reserve fund 18,1811.
Gs. 3d, ; balance of profit and loss, 20,670/. 14s. ; less
payment on account of dividend to 30th June, paid 6th No-
vember, 1866, 10,0001.: leaving 10,6701. 14a. 4d. ; total,
846,1981. 12a. 4d. Assets-Cr.: Specie on hand and
cash balances, 75,8301. 17s. 81. • bank premises, furniture,
fittings and other property, 22,991!. 12s. 11d. ; local bills
discounted, bills receivable, government and other secu-
rities, 670,514/. 541. 3d.; bills overdue and unpaid, 1.88,6101.,
10s. 7d. ; less amount held against loess s thereon, 43/.869/.
6s. 2d. ,'
partial payments, 17,98 q. 7s. 11d.; together,6l,Bs2l.
14s. Id. leaving 46,8411. 16e. 6d. ; total, 646,1961. 12s. 441.
Profit and Lou Account -Dr. : To interest, commis-
sion, and exchange paid, 18,`4511. 12s 7d. ; to charges for
the year, including rent, taxes, and all other expenses, at
bead office and branches, 21,627!. 15s. sd. ; to rebate on
bills not due, 4,2171. 4s. 6d. ; to payment on account of
dividend for six months endng 30th June, 1866 (paid 6th
November, 1866, free of income tax), 10,0001. ; balance
down, 10,670/. 14s. 4d. ; total, 64,7671. Ea. 10d.
Cr.: By rebate on bills brought forward from 31st Decem-
ber, 186.5, 6,772/. 17s. 7d. ; by gross profits for the year
ending 31st December, 1866, 6.5,994/. 9s. 3d. ; together,
72,7671. 6s. 10d. ; less amount reserved against past-
due bills, : 1866, June 30, 5,000/. ; December 31,
3,000/. ; together, 8,0001. ; leaving 64,767/. 6s. 10d.; by
balance down, 10,6764. 14s. 4d."
The CHAIP.XAN said at the last meeting it was announced
that the policy adopted in South Africa was that of reducing
liabilities and getting in debts as fast as possible. That
policy had been steadily pursued, and this accounted for a
considerable diminution in the deposit accounts and liabi-
lities, the desire of the directors being to enable themselves
to recommence business in a satisfactory manner. Bad as
things had been in the colony, there was now a little
clear sky. The capital of the compare y was safe, and, a
dividend of 6 per cent. having been earned, the
board recommended the division of 4 per cent.-
a rate which could not be exceeded prudently. As regarded
the deposits, he must observe that at six or seven per
cent. they could not be very profitable. There was a small
reduction, he regretted to say, in the note circulation; but
in that as in other matters he believed that when their
character for sound business became more generally Known
the result would be satisfactory. The charges for
the year were 3,000!. less than those of the preceding year,
and those of the ensuing
.ear would show an equal retire;
tion. The branch at IV wn had been discontinued,
because it was found that there was only sufficient business
for one bank. By reducing the branches they had •
better chance of securing the best kind of officers.
Under all circumstances, the directors thought the bank
had now turned the corner, and that there was good hops
for the future. He concluded by moving the adoption of
the report and accounts, and the declaration of a dividend
at the rate of 4 per cent. per annum.
In replying to a question,
The CHAIRMAN stated that the last advice. justified the
board in stating that the liabilities on account of past-
due bill. did not exceed 76,0001.

In reply to a further question
The CHAIRNAM Mid the board believed that if the con-
cern were now wound up 17/. per share would be returned.
The liability to pay up 20/. more, though very remote, no
doubt affected the market value of the shares. (Hear.)
A SitAncaotina thought it ought to go forth to the
shareholders generally that in the wont view of matters
only 31. per share had been lost.
After some further discussion the report and accounts
were adopted, and a dividend at the rate of 4 per cent. per
annum declared.
The proceedings terminated with votes of thanks to the
directors and the officer.

WEATHER REPORT.-(THIS DAY.)

THOR/IDA; DLT S. II LL

F. , Extroom Am.
R. 'Li W. Ito ~.—.--...1 W. L. 4to
0.2 1. R. I ..
•—.---- -,-..--. -.- -.-- —--
Nairn 130.03461 24.1. 2 N.L cm& - 2
Aberdeen '30.36 CV B.R. 1 14.1. Os - a
Leith . 30.06 44 W.N. W. 1 Z. ro 11.04 1
Ardroomn '30.01 44 N. 3 9.R. It - 2
Greenmails 9.89 60 W.S. W. 1 I L ob - 1
Valenti... '39.64 50 B.W. 4 B.W. la 003 II
Cape Clear 29.96 54 S.W. 4 . B.N. f 0.35 4
'29.tn 54 8. 1 ; W.N.W. cb - 1
Holyhead -30.02 60 8. 2 1 12.8. W. c- 13
Penzano '30.06 53 8.1. 2 • rf O. 2
Brest 30.08 64 N.N.W. 4 . (W. r lap 4
Latent 20.04 65 W. I 1 : I W.B.w. ro 14.16. 3
Rochefort 30.06 65 W.S.W. .3 i W. ro , 0.16 6
Plyraouth 30.06 5s NAL .1 : I B.M. oo .o.oB' 1
Weymouth 30.11 53 8. 1 1 B.W. fl1 -13
Portsmouth _ 30.07 51 8. 3 N. e 1 - 2
London 30.09 47 Z. 0 W.N.W. ob ' - -
Yarruoutb 30.08 47 N.N.W. 1 2 8.8. W. 100, -' 3
Scarborough. 30.08 47 Z. 0 N. oI- II
..,hiolga 30.15 48 S. 2 8. 0 ' - 3
Helder