The Sun.
London, England, 1855-06-12 00:00:00

THE MILITIA.

The Royal Carmarthenshire Rifles are now stationed
at Llandilo, where they will remain ten days longer.
They have been supplied with cartridges, and are
making rapid progress in their drill and exercises. The
guardians of the Carmarthen Union have refused to give
out-door relief to the wives and children of the Militia,
except upon the condition that the . men should contri-
bute 2s. per week to be deducted from 'the-bounty due
to them at the termination of their 56 days' drill ; and
to this proposition the men have refused to agree. No
relief
.will therefore be granted, except as in-door
paupers.
The Brecon Rifles, now in Brecon, have been inspected
by Col. Sir J. Clete, C. 8., inspecting field officer of the
South Wales district, who reported favourably of the
corps ; and the depot of the 11th Foot has also been
inspected by the same officer. This regiment has re-
ceived a large number of volunteers from the Glamorgan
Militia.

The Rutland Regiment of Militia, under the command
of Captain the Hon. Henry Noel, assembled at Oakham,
on the sth inst., for 21 days' training ; after which, as it
is not the intention of the Government that it should he
embcglied, it will be dismissed. The regiment wants
about 30 men to complete its establishment.

The North Devon Mounted Rifles have recently com-
pleted their eight days' permanent duty at Torrington.
The men appeared in excellent condition, and the result
of the inspection was very creditable to the gallant
colonel, Sir Trevor Wheeler, and the other officers.
A Militia armoury and storehouse are to be provided
by the county of Flint, and it is intended that they should
be enclosed within an acre of ground. The accommoda-
tion will embrace orderly and guard rooms, magazine,
and good apartments for the permanent staff, rooms being
provided for a sergeant-major and four sergeants. The
whole will be surrounded by a wall 9 feet in height. A
new Militia armoury and barracks are also to he erected
by the county of Carnarvon, the sum of 4,0001. being
applied by the county for the purpose ; and similar
buildings are to be provided by the county of Denbigh.
Yesterday having been appointed for the general in-
spection and review of the City of London Royal Regi-
ment of Militia, preparatory to their being placed on
permanent duty, the corps, mustering upwards of 500
bayonets, under the command of Colonel Wilson, alder-
man, were under arms in the Artillery-ground, Fins-
bury, at ten o'clock. The several companies, having
been inspected by their respective captains, the men
formed line in double open order. At eleven o'clock
Lieutenant-Colonel Pipon, Deputy-Adjutant-General,
late of the 85th Light Infantry, arrived, and was re-
ceived by the troops with presented arms. The men,
who were in marching order, were, with their arms and
accoutrements, minutely inspected. The regiment,
having formed close order was put through several
evolutions, which were performed admirably.

STOPPAGE OF MESSRS, ST RAMAN., PA I7L,

AND 00'S. BANK.

. -
( From the Morning Chronicle City Article.)
It was reported in the City on Saturday last, as early
as ten o'clock in the morning, that the banking firm of
Messrs. Strahan, Paul, and Co. were in difficulties, and
had placed their affairs in the hands of assignees. As
all cheepiis, drafts, and acceptances on, and drawn by,
them were duly honoured up to the latest hours of busi-
ness, it was supposed that the house would still go on.
It, however, appears that the doors were not re-opened
this morning, and cheques drawn upon them were re-
turned, marked "Cannot be paid." Later in the day
a petition hi bankruptcy was opened by Mr. Commis-
sioner Fane against "William Strahan, Sir John Dean
Paul, Bart., end Robert Makin Bates, of 217, Strand,
bankers ; and navy agents, of 41.1\Torfolk-,,treet, Strand,
trading under the style of Halford and Co." Messrs.
Lawrence and Co., of Old Jewry, are the solicitors to
the petitioning creditor. The amount of liabilities and
assets in the case cannot at present be ascertained with
any approximation to aocuraoy. Mr. Bell is the offi-
cial assignee. The suspension of this house will surprise
few persons acquainted with the facts to which we shall
very briefly allude, but to the generality of traders and
others the circumstance will necessarily create much
astonishment. It is necessary first to observe that there
is a very wide difference between the character and man-
ner of conducting the business of the private banking
establishments at the West-end and those in the City.
The former are merely banks of deposit so far as their
customers are concerned. They receive on deposit the
current unemployed capital of their clients, for which
they, like all other private banks, in contradistinc-
tion to the joint-stock banks, allow no interest, and
employ the sums so received in the purchase of stock, the
interest on which is their profit. They also lend money
at interest on title-deeds, plate, and other bona fide con-
vertible property • consequently they require a large
private capital, and do a compact and safe description of
business. The City private bankers, in addition to the
above, discount the bills of their mercantile customers,
grant advances on warrants, &c., and make loans on
other tangible security. Such is a very brief outline of
the sseneral character of the business of the private
banking establishments of the country. With refernce
to the West-end houses, their customers are almost ex-
clusively confined to the nobility and wealthy com-
moners, who pride themselves upon keeping large
balances at their bankers. It is evident, therefore, that
so long as a West-end banker confines himself to the
strict line of his business he can incur no risks, realizing
certain gains, and making few or no losses. The, firm
of Messrs. ,Strahan, Paul, and Co., however, have un-
fortunately become involved in railway speculations,
under circumstances to which we shall now allude. The
house some time back became connected with a firm
which undertook contracts for the coestruction of rail-
ways in Italy. The latter fire had previously failed in
the provinces, but soon afterwards recommenced husi-
ness with scarcely any capital. Their place of business
being at the west-end of London, they kept a banking
account at Messrs. Strahan, Paul, and Co's. Their
operations in time invelVed a loss to the latter of 1,5001.
In order to recover this small sum the house very un-
wisely, and unfortunately es it has turned out, them-
selves " went in" very extrusively into the Italian rail-
way contract business. Various heavy hills were
drawn upon them from abroad, and finally in- Lon-
don, until the " acceptleces" of Messrs. Strahan,
Paul, and Co. were very freely current in the City. No
suspicion, however, of there being any danger to the
house was entertained, as although they were " bor-
rowers of money"—an unusual thing for a West-end
banking house—it was believed that all was right, and
that their need of assistance foretold no serious result.
The circumstance of their bills being in the market for
discount occasionally caused surprise, and to our personal
knowledge led to many inquiries during the last twelve
months, but a suspicion of anything being wrong about
the position of the house was of short duration. A variety
of incidents, now that the house has stopped payment,
are brought to recollection, to ebow the false position it
has been in for a long while past, but with the exception
of two or three very cautious persons the result had not
been foreseen. The firm of Messrs. Strahan, Paul, and
Co. was one of the oldestin London, having been founded
between 150 and 200 years ago. It has enjoyed a posi-
tion of great respectability and unbounded confidence,
supported by many of the highest and wealthiest mem-
bers of the aristocracy and commoners of the country, and
the suspension will be a source of general regret. There
is a practical lesson of some moment to be gathered from
this stoppage of one of the oldest and best private banks
of England. Its application is universal. Here is an
instance of how dangerous it is for a house—let it be in
what business it may—to step beyond the strict letter of
its functions, and how much more prudent it is to put
up with the first ascertained loss than to seek t, cover it
by increased liability. The adoption of a similarly false
position has lately brought before public notice the name
of another of our most honoured monetary firms.

(From the
,Times' City rtic7e.)
The liabilities of the banking house of Messrs. Strahn
and Co., whose suspension was announced this morning,
are stated to be about 350,0001. Their cash assets are
stnall, but they have • large debts due to them, upon
which the prospects of the ultimate ,!ividen I to their
credit, rA will mainly. depend. One cause of their em-
barrassment is believed to have con,i,ted in heavy ad-
vances having been •made on shares of the Lucca and
Pktoja (Tuscan) Railway, a &rum-Ist:Lime which west re-
ferred to in the Times of the 3d of March last as calcu-
lated to excite surprise. In the Court of Bankruptcy
to-day a petition was filed for an .aludication of bank-
ruptcy against the firm.
The suspension of Messrs. Halford and Co., navy
agents,,bas also been announced, in consequence of a
connexion with Messrs. Strahn and Co. Their liabilities
are stated to be small. This house, as well as that of
Messrs. Strain, was a very old one.

CRYSTAL PALACE.—SRILLING DAY, June li.—Admis
sions on payment, 6,961'; ditto by season tickets, 783
total, 7,749.

I FRIGID SD.

SPORTING. NOTES.

NOTIONS ABOUT NEWTON.

The meeting at Newton-in-the-Willows *ill be some-
what prejudicially affected by iti3 clashing with the ga-
thering at Hampton. Still, the appointed sport pos-
sesses many attra2tive! features," and although a large
majority of metropolitan turfites will prefer doing duty
on the home circuit, it is not likely to be utterly disre-
garded by racing men. The proceedings will commence
to-morrow and be brought to an ending post on Friday,
the progranime for the three days comprising fifteen
events.

Bolton belongs to a better class of animals than any
other entered for the Trial Handicap, and despite his
weight, therefore, he may achieve success. In his ab-
sence either Excitement or Virtuous will win. Could
I calculate with certainty upon a start, I should have
little hesitation in "standing" upon Comfort, Nelly Hill,
and St. Arnaud for the Makerfield Handicap. The
other noteworthy name is Cimicina, who is unquestion-
ably "clever" at half a mile. Either Defiance or Sauce-
box will win the Gold Cup.
The Great Newton Handicap numbers twenty-two
nominations, the names which constantly arrest the eye
being Defiance, Whalebone, St. Clare, and Rylstone.
Should St. Clare be i' the vein, and not display any of
his customary "fractiousness," he will doubtless be a
prominent competitor, and to him and Rylstone I shall
assign the foremost places. The running for the War-
rington Handicap will be materially regulated by the
result of the first day's races. It present, hervrecrerirdy
choice rests upon the three top weights, Bourgeois,
Michaelmas Maid, and Comfort. To advance an opinion
upon the other handicaps would be ridiculous.
The Golborne Stakes and Lyme Park Stakes seem on
paper " certainties " for The Coroner, who, however,
has also an engagement at Hampton. In his absence,
therefore, and in his absence only, I shall expect to see
the two races at Newton reduced to matches between
Tilly and Stork.
I have received many complaints respecting the al-
leged unfairness of the handicap 'for the Liverpool Cup,
and " odious comparisons" have been instituted between
that and certain other handicaps supposed to be made by
Mr. Topham. So clumsily constructed is that under
notice that the " acceptance " will be numerically insig-
nificant. If my information be correct, Mr. Topham is
not responsible for the discrepancies in the distribution
of the weights, as he did not make the handicap, but
entrusted the task to an eminent turf authority.
I have nothing to add to the hints about Hampton
which were published yesterday.
June 12. A FRESH MAN.

SPORTING INTELLIGENCE.

TATTERSALL'S.-YESTERDAY.

Paying an receiving on the Ascot events chiefly occu-
pied the attention, and it was " high change" during the
greater part of the afternoon. The business appeared to
be carried on very smoothly : in a few instances some
shortcomings were complained of, but there is no doubt
that all will be set right after a little breathing time.
At intervals betting was resumed, but the transactions
were for the most part on the Derby.
1000 to 100 was taken twice about Fly-by-Night, and
afterwards offered ; 1000 to 40 Bird in Hand, 1000 to
40 Danube, the taker anxious to go on-2800 to 100
Polmoodie, 1000 to 35 The Result, 3000 to 100 colt by
the Flying Dutchman out of Ellerdale, 1000 to 25 twice,
and 3500 to 100 Voivode ; 2500 to 50 Hawk. Drama-
tist and Pater Wilkins were supported in good quarters
at 20 to 1 each.
The quotations at the close were as follows :
SURREY AND MIDDLESEX STAKES.
4to 1 agst Cock Pheasant (taken)
4to 1 agst Georgium Sides (taken)
sto 1 agst Vulcan (taken)
sto 1 agst Winkfield (taken)
NORTHUMBERLAND PLATE.
Bto 1 agst The Spinner (taken)
Bto 1 agst Vindex (taken, 10 to 1 also laid)
9 to 1 agst Courtenay (taken)
• ST. LEGER.
4to 1 agst Oulston (taken)
DERBY.
10 to 1 agst Fly-by-Niglat (taken and offered)
20 to 1 agst Dramatist (taken)
20 to 1 agst Peter Wilkins (taken)
25 to 1 agst Bird in Hand (taken)
2h to 1 agst Danube (taken)
28 to 1 agst Polmoodie (taken)
28 to 1 aast Result (taken)
30 to 1 aget c by Flying Dutchman out of
Eilerda:e (taken)
35 to 1 agst Voivode (taken)
50 to 1 agst The Hawk (taken)