Northern Times.
Liverpool, Merseyside, England, 1857-09-19 00:00:00

should be encumbered with railway paper, whilst
its value was being daily depreciated. Thus it
was that when the Arabia sailed public confidence
was entirely gone, and financiahaffairs were in a
position both ticklish and unsatisfactory.
We see, by the accounts which have reached
us, that the bank failures had created the greatest
amount of excitement and uneasiness. Evidently
the banking institutions of America are in a most
unsatisfactory position, as regards their proper
regulation and management, and rival some of
the worst of our joint-stock banks at home.
Even the glaring iniquities practised by the
Royal British Bank can easily find a compeer in
New York. The Ohio Life an I Trust Com-
pany strongly resembles that of the Royal
British. Report asserts that it should have
closed its doors fully two years ago, for at that
period its deficits amounted to 2,000,000 dollars ;
but it went on increasing its liabilities, whichare
now estimated at ',000,000 dollars, equal to
1,400,000/. sterling—a sum far beyond which
throws the bank failures in the United Kingdom
entirely in the shade. Besides, it acted some-
thing like the Royal British Bank ; it took
money as a Trust Company, in which capacity
it made away with the monies of widows and
orphans, charitable institutions, &c., &c. Then,
with regard to the Mechanics' Banking Associa-
tion, we are told that its suspension aroee from
the defalcations of the teller, whose de-
ficencies amount to frcm seventy to eighty
thousand dollars. This gentleman is represented
to have lived very extravagently, but being an
active and energetic official, his career bears a
strong resemblance to that of REDPATH, in the
ways and means of his systematic roguery.

These disasters, both in America and this
country, should not be thrown away upon us.
They teach us valuable lessons; show that undue
speculation, whether it be in the Produce
Market or the Stock Exchange, is always
attended with disastrous results. They also
point to the fact that our Joint-stock Banks have
too often been establishments for concocting
schemes of fraud and peculation—imposing upon
the public, and deranging the wheels of every
department of trade, commerce, and finance.
What eff.;ct these failures will have on this side
of the Atlantic remains to be seen. May it be
neither extensive nor permanent.

CffEzTER AND HOLYIIICAD RAILWAY.—The report states
that the gross receipts of the railway during the past half.
year exceed those for the corresponding period of the pre-
vious year by 4,431/. The amount available for dividend
is 29,920/ , out of which the directors have paid 5,527/, to
the London and North Western Railway Company the
interest cn advances, avd recommend the declaration of a
dividend at the rate of 51 per cent. per annum on the first
preference stock, and a payment of 6,377/. on account of
arrears of dividend on the second preference stock of 5 per
c nt. par annum to the 31 it cf Manh, 1836, leaving a
balance of 6901. •

TIIIC NEW AUSTRALIAN CLIPPER SHIP PLANTER —The
"Eagle Line" of packets, with a fleet of matchless
vessels already, has added another " leviath an" to the
number, and it is no exaggeration to say that she is fully
equal, and in many respects superior, to her noble sisters
of the deep. She has just arrived here from Boston,
where she was fabricated at the eminent yard of Mr.
Mayo, and is aptly called the " Planter," as her mission is
to carry out people to Australia, and in this respect she
may be properly desigeated the Planter of a new and
prosperous colony. In saying that this ship is superior,
in many respects to her sisters, this arises from the
experience which the proprietors (Messrs. Gibbs, Bright
and Co.) have gained in their extensive trade with Austra-
lia, which enables them to add the required improve-
ments, so Ss to make the passengers as comfortable
as if domiciled on shore. Tao dimensions of the
Planter are 232 feet long, 43 broad, and 29 deep,
with a tonnage of 2,000, but, of course, her stowage
capacity is far greater than that. Her external
appearance is commanding, and the eye of the sailor is
delighted to look on her fine masts and spars—the main-
yard being 82 feet, masts 40 inches, with double topsail
yards, and all the modern improvements S 3 desirable for
sailing qualities. Hiwever pretty a ship's exterior may
be, it is with her eternal economy and arrangements that
we have to deal ; for, after all, this is the great point to be
looked at. Her 'tween decks are about nine feet in eleva -
tion, with a fall sweep from stem to stern, and at each side
of the dinner tables, which are nea ly and comfortably
arranged, there is a fine promenade between the dormito-
ries and the tables. The light admitted into the sleeping
berths and dining rooms is remarkable and ample, being
admitted both horizontally and vertically ; and through
the etrire length of the ship there are not less than ten
ventilating shafts, besides the hatches, all of which are
thoroughly ventilated by a never failing quantity of
pure air, so that the least foulness cannot
enter. Another feature worthy of remark is
the fact that there are no less than five
gangway entrances to the several departments between
deck, wad this improvement is obvious, as it not only con-
tributes to the comfort of the passengers, but contributes
mach to order, as some are set apart exclusively for
females—a regulation very desirable indeed. In another
respect, as to delicacy—ate object not al ways sufficientlY
attainable in all Australian vessels—the closets and other
apartments are so arranged as to prevent any complaints,
and there are two hospitals —one fore the other aft, one
for females, the other for males -and these are fitted with
every requisite that can be found in hospitals on shore.
There is one iron task amid ships which alone contains
7,000 gallons of water, and experience has proved that
water holds quite pure in iron tanks, whilst in wood it
becomes impure, if not unwholesome—and every one
knows the great value—indeed, the luxury—of pure water
at sea. From what has been said, as regards the ample por •
tions of this ship, it might be expected that her 't Teen decks
would be made up for ea or seven hundred passengers. We
have seen that number in smaller ships, but the owners, acting
on their usual liberal policy, have allowed each person
nearly double the quantity of space that the Act of Parlia-
ment allows, and instead of putting the above number into
these cabins, they have fitted them up for about 400 only
This boon to passengers will be a: once appreciated. This
portion of the ship is as perfect as it is possible for any
vessel to br made, and every one who has inspected her
ave.) in the point that nething more is to be desired. • The
galleys, and other portions appropriated for the important
culinary departments, are replete with everything ; and as
to victualing, the quantity and quality are alike remarkable
in extent and variety. Her chief cabin, and ladies' room,
with the retiring apartments, are elegant, comfortable and
ample—library, baths, &e. There are baths for all classes
of passengers, when required. We have alluded to all the
essential qu aides of this ship, which render her so desirable
a medium to convey passengers, bat we cannot refrain
from stating that she meows a commander every way worthy