The Sun.
London, England, 1852-08-13 00:00:00

Tbe 11:ardle Stakes of 3 sm, each, and 20 added, one
mile and a half, over four hurdles.
Daviei's Vestris, 5 yrs (Sly, jun.) 1
Mr. Tart's ch oby Don John, dam by Mundig, 4 yrs 2
Mr. Adey's Pay ) our Debts, aged. 3
Mr. Barnes's Little John, 6 yrs
LYNN 1-UCES.—THETIISDAY.
The Lynn Plate of 30 sous, added to a Sweepstakes of
5 soya. each. Heats, one mile. (3 Subs.)
Mr. J. Armstrong's b f Sabra...(Osborne) 2 2 1 1
Captain D. Lane's Captain Flash, 3 yrs 3 12 dr
Mr. J. D. Shafto's The Moor, aged ...1 3 3 dr
The West Norfolk Handicap cf 20 sous. each, h ft and
5 only if declared, with 100 soya. added, the winners to
pay 15 sovs. towards expenses, and the second to save
his stake. About two miles. (25 Subs., 17 of whom
declared)
Mr. Sponge's Ring of Troy, 3 yrs, sst 7lb (Steggles) 1
Mr. Padwick na Freetrader, 3 yrs, 4st 71b... 2
Mr. J. Brown's Dangerous, 3 yrs, 6st 41b 3
M.r. Magenis's Surprise, 3 yrs, sst 71b-
Won easy by two lengths.
The Scurry Stakes of 5 soya. each, and 20 added, the
winner to be sold for 100/., &e. About three-quarters
of a milt,. (3 Subs.)
Lord W. Pov,lett's br f Guava,2 yrs (1000 (Steggles) 1
Mr. Robinson's Chorus, 4 yrs (1004) 2
Mr. Boy d's Mandar e, 3 yrs (1001)
3

aaPIRIT of the PUBLIC JOURNALS.
DAILY NEWS. In this month of half-yearly
railway meetings, a. glance at the results of railway
wbuhtos toe parolipewrtbye
watch
is
waet em-
barked ;or the last six mouths will be an interesting
rteatik,
rosdp eicnt, t notbe
these
only o
closely the march of !hose statistical facts that bear
undertakings,tthose
viz., those either leading to, or
actually centering
on national welfare. Taking, then, the eleven great
lines of England,
in, the Metropolis, it would
appear that in the first half of the year 1852, as com-
pared with the corresponding period of 1851, their
receipts have been 4,587,0361. as against 4,488,2392. ;
showing an increase in the whole of 98,797/. But
as in that period sixty-four miles have been added
to the length of these eleven lines, the mileage
receipts have not, it is clear, gone on augmenting
in the same proportion as the gross receipts ; thus
adding another to the many proofs we before bad,
that, however great may be the advantage to the
public of extensions, branches, and spurs, it is on the
main and original lines and schemes that pro-
prietaries must rely for profit and dividend. De-
scending, however, from these general results to
particulars, the increased sum taken last half-year
has, it will be found, been produced by seven of these
eleven lines, viz.: by the South-Eastern, 10,8841. ;
the Midland, 25,6981.; the Lancashire and York-
shire, 34,5291.;
963
. ;th!E2az; thetern York
Countie 14,931/. ; the
North Midland, s,
and
Berwick,
3,7271.; and the Great Northern, 54,948/. And of
these particular cases of increase, those of the Mid-
land, the North Midland, the Lancashire and York-
shire, the Eastern Counties, and the Great Northern,
are encouraging, as showing the gradual development
of traffic under the pressure of great competition for
it ; for in none of those five lines is there any mileage
increase ; and it is exactly in the instance of those two,
the Midland and the Great Northern, where the
rivalry
theen mostfreci ueemnitnlyen rte
has been greatest, that the increase in receipts
opi-
nion has been largest; thus indicating, contrary to the
peefatre.a.dilwaatheablfa-iyrmeaeraly,
tmhsetetings
bycom-
petition is beneficial to rathveys,y as to all other enter-
prises, if they will only
in the traffic duringtheeompete fairly. The falling off
in the North-Western ; lastand half-year has been chiefly
what is remarkable, while
there is a decrease of 46,419
/ in i
an increase in its mileage of 21 mtisles. receipts, there is
So also with
; decrease the Great Western there is ade
and an addition of fifteen miles tortsee extent
ent 2,0481.,
ve.
mil; and
with the South-Western, an
increase
of fi
been followed by a decreased traffic of es
has
1,2982.1 n
the case of the Brighton, the decrease is between
five and six thousand, but the mileage has,
webe
lieve, been stationary. The antagonism between
increased mileage and decreased receipts in the
first half of 1852 is not, of course, cause and effect ;
and, as traffic is only gradually developed, it is quite
possible that this increased mileage may hereafter
turn out profitable ; though experience h
rather against any such expectation. Part of
this falling off in these four cases is no doubt at-
tributable to the loss of the Exhibition traffic
which they enjoyed in 1851—for it is observable
that the earliest impressions on receipts produced by
that traffic were exactly on the lines on which there
has been in 1852 a decreased take; part to the uncer-
tainties of the weather and the London season ; and
something probably in the case of the North-Western
to severe competition on both eastern and western
sides. The decrease it must, however, be remarked,
would have been more serious had it not been for
the increasing receipts from merchandise; thereby
showing that though the individual locomotion has
been less, the general trade of the country has been
progressive. So far as the half-yearly accounts have
yet appeared, it is inferrible that the working expenses
have increased in the last half-year. This is so in the
North-Western and Great Western ; but is accounted
for by part of the repairs arising during the Exhibi-
tion year not having been paid for until the first half
of the current half-year. Tut effect of this increase
in working charges, and of the decrease in receipts,
on dividend in those two companies is, that, to main-
tain the rates formerly pale, very considerable sums
have to be taken from the balances carried over, after
payment of the dividend for the half-year ending De-
cember 31, 1851. This practice at once gives rise to a
most important question in railway morality and ma-
nagement. To maintain in a great concern a consider..
able balance applicable to contingencies and unforeseen
liabilities is a matter of prudence which, as it
gives stability in value to the general property, can-
not be fairly or reasonably objected to; for railway
boards are bound to be as prudent as other people.
But to carry over, in good half-years, great sums in
order to support dividends in bad half-years is cer-
tainly objectionable ; for it makes the living pro-
prietor pay, not for the dead, but for the
unless there be a moral certainty that the same rate
can be again divided in the corresponding half
of the on-coming year it tends to give a
e
tempo-
rarily fictitious value to th It property. was ob-
viously the intention of Parliament, in enacting 8
Viet., c. 16, s. 120 (the section regulating dividends),
that the profits of each half-year should be divided
amongst the shareholders of that period, and not go
to augment the dividends of those who
after come into the company;
is and though some dis-
cretionary power given by the section to directors,
it is very clear that the present tendency of things is
to encroach on that power, and the margin between
encroachment and abuse is small—very small.
At all events, however, if railway companies are
to keep large balances or rests over from profits, are
amount ought to be fixed, and the purposes l for
which which they are applicable ought to
tbein an declared.
Then when it is universally knownitlill
be taken from
productive half-year a largebeetleinexvit productive half-
the rest, and be replaced in
ptroximation to the real
year, a much better
"estion can be made than
value of the property in
crar and distinct understand-
is now the case. Same
eto between railway proprieta-
ing ought to be come
On
this subject at the meetings
ries and their directors
result of the working of the
now iu progress.
; SOth of June last has not been be-
half-year end.Pgi e
, t the reverse, to prices, which in
neficial, bu'ilaa previously ruled unjustifiably high.
) many cases bole, if some principle be laid down on
But, on t
thoef rests, if
there is not much to fear, and a
) the pm°
t to hope. Companies are taking advantage of
grew t dealabundance of capital, and reducing, as fast as prac
g,l2-1, e
1 the interest on their debt, which, as a general rule,
amounts ' to one-third of their capital. The trade of the
with '
country is still, the temporary exception of the
woollen manufactory, increasing, and of that increase
they will have the full advantage when they choose
to abandon the silly system of excessive competition,
touting, and search after merchandise, that no
prevails. People, put to extraordinary personal w
ex-
pense last year, are this summer e • conomically in-
clined ; but this stationary rule in 1852 •is an excep-
tion to our general habits as a nation, and
in all probability, we will resume our nextyear,
locomotive
propensities in full force, and of them railways will
receive the benefit. And, sooner or later, rival
companies will abate their extreme
gradually experience is teaching
them that a fair and
reasonable competition is advantageous to all • and
.. ,
when at last, instead of the • animosities and hostilities
that now discredit railway management, reason shall
have brought them to a general system of accommo-
dation of through booking
and of what is express-
sively termed " give and take
, " the surprise will be
what they formerly were foolish enough to quarrel
and waste their energies about. This period will not
be postponed by a little present pressure such as we
have detailed.

THE LATE CASE OF EXTRAORDINARY DEATH.—
Yesterday Mr. William Carter, coroner for Surrey, con-
eluded the inquest upon the body of a man supposed to be
named Charles Cherrett, and coachman of Mr. Dimak, the
banker, of Forest-hill, which was commenced on Tuesday
last et the Hero of Waterloo, Waterloo-road., The particu-
lars of this case appeared in The Svn of "i% ednesday last.
After the examination of some fresh witnesses, the coroner
summed up, and the jury returned a verdict of °'Temporary
insanity."
B. B. CAIInELL, ESQ M.P.—The Hon. Member
for Boston has lately completed a most extensive purchase,
viz., the whole of the townoof Cromer, with the exception of
two houses, and about 12,00 acres of land. The purchase
money amounts to.upwars of bO,OOO/. The property was
lately possessed 133 • the. Misses 'Wyndham, two old ladies, who
were much averse to improvements
inhabitants of Cromer. the change of proprietorship is likely
to be most beneficial, as the Hon. Gentleman has already
and alterations. To the
given orders for extensive alterations, the laying out of new
streets, &c.—Boston Herald.
NEW ACT FOE SCHOOL Sires.—According to In
Act now in operation,
• the provisions of former Acts with re..
spec, sites for schools are extended to schools and colleges
for the religious or educational training of the sons of yeo-
meniar tradesmen or others, or for the theological training of
candidates for holy orders a the established church, vilkh
, 114 evicted of maintained in-pstt claatitablq aid.