Northern Times.
Liverpool, Merseyside, England, 1857-06-18 00:00:00

WRECKING AND SIITIGGLVTG IN STRONIA:

Information having been communicated to the inland
Revenue and Customhouse officials here, that quantities
of tea and tobacco, forming part of the stores of the brig
Favourite, of Aberdeen, wrecked at Duncaneby Head, had
been run into the island of Strome, Messrs. Helm, super-
visor ; Mackay, riding-officer • Macdougall, pr:ventive
man ; and Peach, comptroller Of customs, proceeded there
on Tuesday last week, in search of the run goods. After
landing, Messrs. Helm. Peach. and Macdougall, proceeded
to the mainland, and instituted a search, while Mr. Mac-
kay went by a boat to examine the caves at the sea shore.
In the course of his search into the caves,,Mr. Meelmy
entered one a considerable distance, aiding his inquiries
by means of a candle, and there he tumbled on a sack of
ground malt. Encouraged by this unlocked-for discovery,
he proceeded farther into the recess of the dingy cavern,
and was increasingly successful, having found a copper
still heal and shoulders, which as a matter of course, he
took passeegion of in her Majesty's name and authority,
destroying "the mercies" under the same authority. The
materials were taken to the office at Pulteneytown. The
other officers obtained no clue to the run" geods; though
probably certain individuals that observed the progress of
the search were chewing the cud of contentment over por-
tions of the stolen tobacco. However, in certain houses
they discovered large portions of the wrecked property,
belonging both to the Favourite and the Blue Bonnet,
wrecked at Stroma. We should hope that, for the credit
of the country, the offenders will he promptly taken to
task for such disgraceful conduct. Perhaps it may not be
out of place to remark that it is quite possible that mans
cases of breech of the excise laws would be detected here
and elsewhere, were there, as in this instance, mutual co-
operation between the two branches-of the service. To
the dishonour of this county, we regret that a large quan-
tity of the Favourite's stores has been taken away, and
that wrecking. to a great extent has been carried on at
both vessels. And now that, at least, two cart loads of
the wrecked goods have been found in dweliingeheuses,
there surely can be no difficulty in obt:aing a verdict
against one or more of the leading offenders.— Northern,
Ensign.

BILL FOR THE PUNISHMENT OF FRAUDULENT
DIRECTORS, TRUSTEES, SOLICITORS, AND
OTHER AGENTS.

This bill was read a second time on Monday, and is no/
rapidly passing through its other stages in the House of
Commons. We have already pointed out that, unleso
certain penal clauses of the bill, which deal with offences
of trustees, directors, &c., underwent considerable alteration
in committee, the character and liberty of every honest
trustee and solicitor in the country will be put in extreme
ieopardy. We suggested at the same time, that this bill
afforded the best opportunity which has yet been offered
for introducing a provision, making it punishable as a
misdemeanour fur persons to obtain goods on credit, for the
alleged purpose of bona fide trade, but instantly disposing
of such goods by auction, and applying the money to their
own purposes in defraud of their creditors. At this im-
portant stage of the bill, we again call attention to the
subject, and remind mercantile boslies of this valuable
opportunity of putting an end to a traffic by which their
members are systematically defrauded of their property.
On the one hand, we desire to impress on our readers,
that if those penal clauses to which we have referred,
be allowed to stand as they are, the act, when passed,
will infallibly tend to prevent mercantile men of
character and responsibility, from accepting any office or
duty connected either with trusts or joint stock companies,
and throw those offices and duties on persons of inferior
responsibility and station. Consequences more serious
still may follow the enactment of clauses so extremely
penal, because, if trustees under wills are to be exposed,
by some innocent omission, to the risk of such conse-
quences as seven years' penal servitude, what possibility'
will there be of persuading sensitive and honourable men
'to undertake the office of guardian and trustee of the
children and property of deceased relatives ? Stich a bill,
if passed in its present shape, would thus be an insuperable
obstacle in the way of fulfilling the most secret obligationS
and duties of private life. It must not be forgotten that
this measure has been prompted and maialy brought
forward in consequence of recent disclosures of extensive
frauds connected with the Royal British Bank. Such A
bill, at the present moment, will no doubt be received with
popular favour, but legislation of such a character is by
no means either a safe or scientific mode of dealing wit?
the amendment of the law. It is, however, only fair
towards the Attorney-General to state that he has invited
public bodies, and all persons who feel an interest in the
measure, to give effect to their objections by forwarding to
him clauses which would be necessary, in their judgments
to give a more safe, cautious, and effective operation to the
measure.—Mercantile Test.

Some of the wise ones notice that the 7stjan in the
Moon" has already flattened and Fcorcbed his nose con-
siderably by coming in contact with the cornet, while
swinging round our earth, which circumstance irrefragabil
proves that the fiery mass must atrttady he near us.
EXTRAORDINARY FIRTH.— The wife of an operative,
named George Caton, residit,g in Back Tettow-street,
Wernetb, was delivered of an extraordinary male child a
few days ay. The innutt has two bodies jot se.; back to
back, four arms, r,nd four legi, but only one 'Kati and neck.
The child is alive and h,a'thy, and the :,I,Crter is also dein;
well.

LABOUR LN JAMAICA. —The adviees from Jamaica, state
that the question of the wage 3 of agricalt oral lab,mrers
had been warmly agitated. Tile Falmouth Post and the
Watehnvin argue that, as the labotrers cheerfully sub"
milted to a reduction of their wages when sugar was
selling at from £lO to £l2, they are entitled to an increase
now that the price has risen to £3O per hogshead. Th°
Daily Advertiser considers such a mode of argutn,nt to be
mischievous, as tending to sow the seeds of discor3
between employer and employed, and contends that, as
the planter has been a loser for some years past, he 17
justified in taking advantage of the presept rise in ele
price of praduce. The Morning Journal prefers neutrality
on the question, conceiving that the matter concerns ouil
those who are directly interested. •
CASII AND DEED BOXES.—The next important thing to the posse!.
sion o f Cash is; how (when yen have got it) to keep it safely, either 14
the connting-house or at home. The same remarks apply to d 8
and other valuable documents. We have seen a large and va!:
stock of both these desirable articles, manufactured expressly for ss:i
E. T. Hall, of South John-street, that challenge attention. The 4
boxes ire made on new and admired principles, and possess Paio
loci:s, which defy the ingenuity of any "pick-lock" in the worldd
open, except with the legitimate key. To merchants, solicitors,
others, these new safes, on a small scale, must prove valuableinde
—Northern Daily Times, 21st May, 1857.

BIRKENHEAD GAS &1(D WATER COMPANY.

IMPORTANT MEETING.

A special meeting of the shareholders of this Company was held on
Monday last, 'at the office, Chester-street, Birkenhead. Mr. William
Jackson M.P., occupied the chair, and the other gentlemen p>esent
Were—Messrs J. S. Jackson, rt. Mallaby, J. Laird, F. H. Firth, T. F.
Bennett, B Bryans, S. Stitt, W.:`:. Parrey, W. Jackson, lan., J. J.
Whittingham, R. Daly, and Mr. Townsend, the solicitor to the com-
pany. _

The Chairman, in opening the proceedings, said they must be aware
that that was not a meeting held under the powers of the act of par-
liament, for as a long notice would have to be given to call a special
general meeting, e: could only be considered a meeting of proprietors
to confer upon the position of the company at the present period ; and
no resolutions affecting the company one way or another could be
arrived at. They were all aware that the bill had been thrown out of
the House of Commons by the committee. The preamble was not
proved ; and he deemed it his duty, and the other parties who were
upon the bill agreed with him that it was their duty, to lay before
eminent connsel all the evidence which had been taken before the
Committee, so that they might know what the actual position of the
cemPany was. He did not hold that any decision of a committee of
the House of Commons was to be taken as an indication of the law
Upon the matter. No opinion was expressed by the committee as to the
grounds upon which they rejec'ed the bill ; but conceiving that at that
Jule& itre it was necessary to have te a best advice they could possibly get
' on the subject, he instructed the solicitor to the company and the j unior
Counsel to prepwe a case embodying all the facts as. •y;cerne out
in the evidence eeeere the committee, and to lay it .before eminent
eCiiinsel for their opinion. upon it.. That case was preparee, and laid
Before Mr. Sergeant Bytes, whom, ha believed Mr. Perry knew to be
a very eminent common-law barrister. It was also laid before Mr.
•Roundell Palmer, who was also a very eminent equity barrister. The
:Opinions obtained, as sometimes happened when legal opinions were
taken, were very contrary.. One was . that the company we -e3 per-
fectly justified in buying, and that he was perfectly jastided in selling
his t _ works to the company, .at that period. The other took a very
different view. He seemed to think that there was a doubt whether
the company had the power to buy under the circumstances, and
Went vary lengthily into the matter. He only received those opinions
on Monday evening, about seven o'clock, and on Tuesday he asked
Mr. Bennett, Mr. Bryans, and Mr. Stitt—they having been appointed
at the last general meeting a sort of committee of consultation—to
take the cis., with the evidence befsre the committee of the House
Of Commons, and the opinions upon the same, and read them over.
Since that time, up to wiehin the last ten minutes, he had not had
the pleasure of meeting these gentlemen, but he had no doubt they
vfould be able to stwe what they thought of them. In consrquence,
however, of the difference of opinion between Mr. Sergeant
bytes and Roundell Palmer, he deemed it his duty to go and
Consult with one of tire first Parliamentary barristers of the day,
Who was perfectly cognisant of the facts in every respect.
ete, del not coincide with • the views of Mr. Roandell Palmer,
end therefore it was a very delicate question how to deal with the
Matter. Ha had also centered with the trustees of the late Mr.
Mallaby, and they were very desirous of meeting this question as far
all their position as trustees would permit them ; bat having other
interests to meet, they felt they were not in a po Avon to act just now
Upon the opinions expressed, because they might hereafter be called
upon as trustees to justify what they did, which any lawyer would
know was a very difficult thing for a trustee to do. They had author-
ised him, however, to say on their behalf teat they were perfectly
Willing, tinder all the circa nstances, to re-coup to every individual,
Who bought shares, his money, with 5 per cent. interest, minus the
dividends which had been received in the meantime, so that no
-Person who bought shares from them should be injured, leaving
egg's rights and position were to
the other question of what th come
oe,determined afterwards, either by some tribunal, or in some other
-Manner which the company might deem expedient. There were two
Parties to deal with. Filet of all were the proprietors who eenghtthe
:shares, and who, assaming that the company had no power to make
this purchase, might say that they were aggrieved ; but that dif-
ficulty was removed by Mr. Adallaby's trustees saying they were
prepared to re-coup the money paid, •with five per cent. interest,
minas tile, dividends already received: The next party to deal wit=s
would 1M the :public, and he Was able to state that, even assuming
there were no powers to purchase existing, anal that the outlay of the
Company's expendittire was to be taken from the day he first began tn..
erect his works, and withetit any consideration forcommercial advan-
tage, or for value of the lease, taken at the actual cost of these works
as exhibited by the books teen kept by him,.he was happy to say, as
between tite public and the coin ;Any, no injury hal 'ieshlted to the
Public, for the proprietors had not realise ten per cent. on the actual
outlay. Tnat was the reason why he nought it desirable to call a
Meeting of the proprietors, so that if any one wanted farther explana-
tion they wont be prepared to deal with it, and in the meantime
Perhaps some suegeetion would be thrown out whereby a solution of
these questions might be arrived at, that a jest and 'fair decision
might be had, With that view they, had asked the shar. holders to
meet them that nay, in order to liners at some conclusion as to the
best course to be adopted. Ho had endeavoured to show, as briefly 83
he could, how those who came into the concern should be no sufferers,
and-he thought that the public had been no sufferers. The question
• Was now entirely one as to the position of the company—whether they
tiad a right to bay the wores or whether he (the chairman) had a
tight to sell them, which could not then be settled; but some mode
, bemdoptedlthat day to put Mr. blallaby'e trustees ins position
to assent, if they thought proper, to any measure to pat the question
of capital in-the company at rest.
•Mr. W. W. eerrey said that, as regarded himself, he should like a
little time to turn the matter ever in his mind. As a shareholder, he
Would not be unreasonable in his views on the questions put before
the meeting.

The Chairman remarks I that if Mr. Ferny, as a solrcitor, or any
Other person, went through the case, and thought it was not put in a
proper manner, and suggested any alteration, they would be glad to
attend to it. .He had not seen the case himself, haseng left it to his
solicitor; but he repeated, if it was not in accordance with the
Opinions of some of the propfietors, let it be put into such a shape,
before they took further opinions as to meet all the points at issue.
Mr. Mallaby.—Mr. Perrey willilnd the case put down hi the very
Worst aspect as regards the company.
Mr. Stitt and Mr. Bennett remarked that the case was very strongly
Stated as against the company.
Mr. rownsend said his object was to state the case strongly rather
than otherwise as respected theacompany.
The ( heirman said he would go farther, and state that, upon the
question of the legality of the proceedings wheal were the subject of
discussion, the company could have no objection whatever to any re-
spectable accountant in Liverpool joining with Mr. Beloe, the com-
pany's accountant, in going through the whole of the accounts from
the beginning to the or d —from the time he (the chairman) cut the
first sod of the works down to the present time—so that it might be
ascertained whether there was any exeenditure on the works which'
could not be justified; and also, whether as between the public and
the company any undue extravagance had taken place, by which
they were deprived of the advantage of a redaction in th . rates.
Mr. Laird understood that Mr. Roundel' Palmer's opinion was, that
the company's capital would have to be re-souped if it was proved to
be improperly raised.
Mr. Townsend replied, that Mr. Roundel' Palmer considered that
the £50,000 was not to be considered as entirely paid up ; but under
the circumstances of the case the company were not authorised, nor
had they the power, to pay Mr. Jackson anything for the concession
of the works beyond their actual cost; and, therefore, the difference
between the actual cost and the 450,000 capital would have to be
paid up by the company. Then, as to how that was to be dealt with
In the present position of affairs, Mr. Palmer suggested that the re-
Solution of August, 1841, should he rescinded, except as to so much
.of the £50,000 as consisted of actual outlay, it being in the nature of
capital still to be called up. Then came the question, hew were the
new Partnersthe parties who had recently purchased—to be dealt
With? That was between Mr. Mallaby'a trustees and those gentle.
man, and Mr. Palmer suggested that they should have-the offer of
I back their shares, and taking the amount they paid for them,
With interest, allowing, of course, the dividend on the other side.
There was an alternative suggested, bat it was based on the assume.
tion that the transaction as regarded the sale of the works was not to
be justified. That was Mr. P amer's opinion, but that opinion was not
entertained by the Parliamentary barrister, with whom Mr. Jackson
d subsequently conferred, and therefore it was not to be taken as
absolutely determined. But he understood that Mr. Mallaby's trustees
Offered, whatever that opinion might be, to take back the shares of
any of the purchasers who wished to give them back.
Mr. Stitt. —Mr. sergeant Byles's opinion clashes with that opinion.
Mr. Townsend.—Sergeant Byles's opinion was to this effect—suppos-
tog that the amount paid, was not more than the commercial value of
the concern, Mr. Jack .on was perfectly justified in accepting it, and
the company in paying it.
After some farther discussion, Mr. Townsend read the opinions of
Maisel at length. Mr. Sergeant Byles was strongly in favour of Mr.
Jackson's rightto receive a profit upon the lease and works to the full
amount ottheir commercial value. Mr. Roan dell Palmer, on the
other hand, considered teat the company had no right to purchase the
lease and the works for more than the actual outlay expended on
them, restine that opinion upon the fact that the original contract
from the commissioners to Mr. Jackson contemplated an act of Parlia-
ment, andthat the act, when obtained, wan to be ta'aet as the act so
authorised, and that, therefore, Mr. Jackson was not to be taken as
holding ,the works for the benefit of the company, and was taus
precluded from receiving any profit on the transfer to the company.
Mr. Laird said, it would a opear, th2n, that Mr. Roandell Palmer
recommended that the capital should be minced by any amount
Which it could be proved was not actually paid up, that being in the
nature of capital still to be called for.
Mr. Townsend.—Precisely.
Mr. Laird said, in that case he conceived the new shareholders
should have their shares reduced ie proportion by the seller. As
that was merely a meeting for conversation, he dii not pledge himself
to any course ; but it appeared to him to be most desirable for al
parties, if anything-was dine, that tie course recommended by `'r.
Rouneell Palmer shooed be the one adap ed. He believed it would
be satitfactory to the public, and it would be satisfactory to himself,
as a shareholder, to be re-cotiped the amount that was charged im-
properly.
The Chairman said, the point of difference was, whether or not the
transaction was a correct transaction. That was wad troubled the
trustees Of the late Mr. Mallaby la their capacity as trustees.
Mr. Mallaby observed, that the best course would be to get 'further
Opinions on the subject.
The Chairman said he had suggests Its his colleagues that a case
Should b 9 drawn up, that the proprietors should agree hi all the facts
Stated, and that the case should be laid before the highest authority
ill the land, the Attorney-General.
Mr. Bryans said he could scarcely Re any use in taking another
°Pinion such as the Attorney-General's, unless all parties would tint
thernselvea to abide by, his opinion, whatever it might be.
Mr. Townsend said, the difficulty would be to get all the new
taarett hdee oldersby the
together
decision of an with Mr.
account an Mallaby'st
of trustees, to consent
lorki bi known eminence
resPectability, upon points of fact connected with tee a, counts;
le Laird raid any agreement among the shareholders would be of
no nse unless the public or some party of them, and Mr. Mallaby's
hnstees, also joined in the agreement, because any one who wits not a
Party to the agreement might dissent from the decision, whatever it
thought the first step was for Mr. Mallaby's trustees, if they
Whßelieved there was any • difficulty in their position; 'to ascertain
ether or not they could enter into as arrangement if other part as

.. Fdhe Chairman said, he thcright that if all the shares that had Veen
'_'(.h were bought back spin, and all the parties had their money
Eveen to them, it would then be in the power of the tra.tees to reduce
alicaPital of the company by a r_so'ut:on, and sell those uhares bac::
thetZat a reduced price to the parties from whom they purchased
that
Itr. Bennett understood it to be Mr. Roundell Palmer's opinion that
_ ash best course that could le ad:pted.
~.rKila Chairman said he could only say—of mute ho said it without
thinlice—th..t if Mr. Mallaby's trustees could get hack all the shares
all y,
the sold sold be knew he coald get back the few he bad parted with:
ptr%eusttock having then reverted to the original ho ders or their
sold thetatives, ha would then be prepared to say to the parties wire,
If any.
thoshares back, ‘. Whatever may be the amount of reduction,
that they
Lyseigstittartelas shall be sold back to you, lees the reduction,"
presented itself en come in as shareholders, the difficulty w
Prepared to ado ving in th_ meantime been removed. He was quite
trustees to do t*.
ascertain Witho that course, and he recommended Mr. Mallaby's
also, and then came the question, how should they
reduction, if an—
/ ra°l" bang wasted in law, to what extent a
Mr, Bryan tho'ua!lould take place ?
The Chairman fsgahit.the offer of the chairman was very fair.
Mallaby's trustees would would go further, and say that if Mr.
a case agreed upon as drawn up and submitted to
11,geree to
thee had no objection whatever to
tweell public and the company being
he was willing to abide.
the Attorney-General, by whose opinion
Mr. Bryant+ said hey d
tom
as ,
Palmer's opinion; ophigh a respect for Mr. Bounden
netted with joint-stock com on stood very high on all matters con-
Mr. Bennet, who had caf.:air);
anent, contracts, and the whole if
waded through the acts of Parlia-
concurred in the opinion of mr.;
lthe evidence, and compared them,
of the case, he thought the best et hrara(".
tO agree to an extension of the works Under all the circumAances
a would be to get all the parties
Proper award given to those who . and at the same time to have a
the works and carrying themg on,
uheadwaborne the harden of erecting
to have the company put in a position 0 expressed himself desirous
u if Birkenhead was going to

be a large place, and that it was desireable that all means should be
adopted to secure an abundant supply of gas and water for a large
and growing Coinniunity,-enibraclng the adjacent districts.
Mr. Laird asked the chairman whom he considered as representing
the public.
The Chairman replied that that was a difficult question to answer,
seeing that the works of the company extended to districts beyond
Birkenhead. namely, Tranmere, Oxton. and Bebington. He sug-
gested that those townships should agree on some party to represent
their interests, and that their representative and the accountant of
the company should join and examine the books of the company
together. The company would be prepared to give a complete state-
ment of their earnings and expenditure from the first, as well as be
prepared to enter into the question of the redaction, if any, to be
made in the capital.
After some conversation on this point,
Mr. Laird said that, as a shareholder, he tho fight there ought to be
a thorough investigation of the affairs of the company from first to
last, to ascertain whether the .4'50,000 was a legal, bona fide transac-
tion; and if such was not the case, he should look to the parties who
sold- him his shares, to .re-COup him the difference. It was repre-
sented to him when he bought the shares that the £130,000 was paid
up, and that the concern was,paying a certain per centage. On the
strength of that statement he paid 475 for each share.
The Chairman repeated that the books s, ould be opan for any
accountant whom they, as proprietors, might appoint, so that the
whole affairs of the concern might be gone ov,.r ; and if the people of
Tranmere, Oxton, and Bebington, along with Birkenhead, appointed
a solicitor to join the solicitor of the company in preparing a case for
the attorney-General,he would abide by his decision.
Mr. Stitt thought the proposition a fat-, and reasonable one, and the
only one, he thought, that would meet the merits of the case.
A discussion ensued as to the position of Mr. Mallaby's tr,stees, in
which Mr. Townsend said that, as advising the trustees of the estate
he would recommend them, as the first step to be taken, to make to
every shareholder who bought shares from them, the offer of purchas-
ing back those shares at the cost paid for them, with interest. They
would teen see what course the shareholders would take on the pro-
position. With taose who accepted it there would, of course, be no
difficulty. If they declined it, or clogged it with any other condition,
they would then know how to deal with them.
Mr. Laird.—That appears to be the only course to be takes,
_ .

The Chairman saldrlie thought it only lust to himself to state that
Mr. R mridell Palmer, in a- letter to his son on the subject, said he
could see, nothing whatever in the transactions which had taken
place could in the slightest degree affect his (the chairman's) integrity
or his honour. He thought it only right to name thst, and he could
repeat that if arrangements could be made so that Mr. MAllaby's
trustees would take the same course that he was willing to take, he
was perfectly willing to leave the matter of the cost of the works to
the opin'on of the Attorney-General ; to let the three townships,
Tranmere, aston, and Birkenhead, appoint any solicitor they choose
to join the solicitor of th,? company in preparing a case to be sub-
mitted to the Attorne/-General, and that those three places should
also nomin de, at the same time, a respectable accountant who should
join with Mr. Beloe, the accountant of the company, in making a full
investigation of the books. Ha really wa ted nothing but what was'
fair and equitable.
After some further desultory conversation, it was understood that
n,thin,r further would be done until Mr. Mallaby's trustees had de-
cided how far they could act upon the suggestions which had been
made.

The Chairman then stated that, under the guidance of Mr. Hawks-
ley, the company w .re taking every step they possibly could to in-
crease the supply of water. They had purchased two addditional
engines..and_ware night and day at work upon fresh bo-iugs, and no
time or money would be spared to secure from the district every drop
of water that could be extracted from it. The town was suffering
greatiuconvenience at present. The consumption had overtaven the
supply, and new works could not be erected in a few week,. There
were three sets of men working at spells of eight hours; and every
effort, he repeated, would be made to give a constant supply of
water.

Mr. Laird was glad to hear of the arrangement, because the town-
ship, he said, was very short of water at present.
Mr. Bennet,. made a few remarks on the same subject; and after a
vote of thanks to the chairman, the meeting broke up.— Mercury.