The Sun.
London, England, 1855-12-24 00:00:00

Davy Jones's Locker.

ASTLErS ROYAL AMPIIITLIZATRE.
Lowe and Manager, Mr. Wm. Cooke.
THIS EVENING,
The successful Equidrarne called ROOKWOOD ; or, TURFIN'S
RIDE to YORK.
After which the SCENES In the CIRCLE.
To conclude with a RISIBLE FARCE.
On Boxing Night (first time), an unheard-of novelty !—an Eques-
trian Comic Pantomime. called Harlequin and St George and the
Dragon, or the geven Champions of Christendom ; introducing 100
horses, ponies, and other quadrupedal artistes. The anima's trained
and the equestrian effects invented and arranged by Mr. William
Cooke.

sillox-offlee open from Eleven till Four. Stage Manager, Mr. W
West. Equestrian Director, Sir. W. Cooke. ;un.

HIGH WATER AT LONDON BRIDGg.

THIN DAY—Morn. 16 min. aft. 2—Evening 37 mil aft. 2
To-Notißow—gorn.s7 min. aft. 2 —Evening 73 mil. aft. 3

THE WEATHER—SUN OFFIOE, Dec. 23.
THERMOMETER, IY THE. SHAD&
45 - highest since noon yesterday.
23 -lowest this morning and during the night.
48 -this day at noon.

BAROMETER, 29.66.
Warr., S.W.—Fresh. A. sudden change came on to•
wards morning, with thaw and smart rain. Afternoon
mild and sunshiny.

DECEMBER 21.
49—highest sine, noon yesterday.
1,1 —lowest this morning and during the night.
17—this day at noon.
BAROMETER, down to 29.52—n0w up to 29 70.
WIND, S.W. Light, with fine, mild, sunshiny weather,

tl •
fin) • Ant

LONDON, MONDAY, DECEMBER 24, 1355.

The commercial community has recently been
considerably excited by the result of an action to
recover the amount of a cheque specially crossed
to particular bankers, and cashed, as asserted by
the defendant, without due caution. No imputa-
tion whatsoever was cast on the bona fides of the
defendant. It was admitted that he had given
the party full value in the confident belief that
he was a respectable person, and fully authorised
to dispose of the document. It appeared, how-
ever, that he had merely been entrusted by his
employer with tite cheque for the purpose of being
paid in to his own bankers, Messrs. DIXON and
Co., to whom it was specially crossed, and that
he had embezzled a considerable portion of the
amount. The question then turned on the nature
and effect of the specific endorsement, or crossing
in favour of a particular bank ; and the decision
of the Lord Chief Justice that such an operation
does not affect the negotiability of the cheque, or
create any obligation on the parties on whom it is
drawn beyond that of paying it through a banker,
has created considerable alarm. The security
that was supposed to belong to this peeuliar forni
of the promise to pay is found to be, to a great
extent, if not altogether, wanting, and merchants
and traders find that they are far more dependent
on the honesty of their " young men" than they
' lv
had previously supposed. The decision above re-
ferred to is strictly- in accordance with the prin-
ciples which we enunciated in 1852 in reference
to
the leading case of BELLAMY v. M.A.RJORIIIVNIES,
and there is but little doubt that it will be sus-
tained in any appeal that may be made. But it
is equally certain that the effect will be very pre-
judicial to the best interests of the nation, and
that a Legislative remedy, which can alone re-
move the admitted evil, is urgently required.

Professor LEONE LEVI has taken advan-
tage of the sensation thus occasioned to deliver
a very interesting Lecture on the subject of com-
mercial law, a report whereof will be found else-
where in our impression. It was no ordinary
occasion, being the closing lecture for the season,
at the King's College, by its Professor of Com-
merce. The subject was therefore most appro-
priately chosen, and it will be doubly bene-
ficial, for while it teaches a salutary caution as
to the actual state of the law, it also shows tle
glaring deficiencies thereof, and the nature of
the required modifications. We earnestly com-
mend this excellent trectax—for it may be re- .