The Sun.
London, England, 1864-05-05 00:00:00

LAW IN T.

This Day,

X 0 I.7Ey DIARERrr

AND

GOMILItCJIAL INTELLIGENCE,

-

CITY, TWELVE O'CLOCK.
Much uncertainty has prevailed in the money
market all the morning, and es it is known that
'the Bank of England directors are deliberating
upon the position of affairs, it will not occasion
much surprise if further discount restrictions arc
adopted, especially as the authorities are charging
9 per cent...yesterday kr accommoda,ion. Pending
the decision of the executive, the business in the
general money market is very much curtaKeii, and
•at the Stock Exchange there is a tendency towards
increased depression.
Abou'. £36,000 in gold was taken into the Bank
yesterday,
A branch in the High•street, Newington, is
abort to be opened by the London and County
Ba nk.
The prospectus has been issued of the Scottish
:and Universal Finance Bank, capital £1,000,000, in
20,000 shares of £5O each, the first issue to be 10,000
shares. The object is to introduce the Credit Mobilier
system into fico:-.land, and the directors have suc-
ceed( d in cenapleting arrangements for the purchase
of the business of Messrs. Nathan and Co., of Corn-
hill, London, bullion and exchange bankers, and
also for the transfer, upon equally favourable terms,
of the business of M. Monteaux and Sons,
Palais Royal, Paris, bullion and exchange ban-
kers. A nucleus being thus obtained, the direc-
tors will be enabled at once to commence operations.
The campeny will receive money at call or on de-
posit, grant loans, make advances on merchandise
and dock and other warrants, on title deeds, on con-
tracts for works, deal in the precious metals, and by
means of the Paris branch it is proposed to under..
take the shipment of silver to the East via Mar-
seilles. It will likewise transact business by the
issue of small bills and letters of credit for the con-
venience of travellers and emigrants, and negotiate
approved foreign or inland bills and cash coupons,
&c.
The last week's railway receipts, ascertained up
to this day, tree, in round figures, as under:
Great Western 1864. 1863.
£61.877 £57,377
North-Western
......................
South- West„ern
22,132 21,797
Midlßrighton
.............
Greatand.
T(orthern
BLanes L• •and Yorkshire..~
Nris..ol and Exeter
rJrth Eastern
Great Eastern ................ 32 826 27,691
Great South-Western of Ireland
'Glasgow and South Western
These returns when compared with those of the
same period of last year, exhibit some satisfactory
results. On the Great Western there is an in-
crease of £4,500, ou the North Western of £7,839,
on the South Western of £335, on the Brighton of
£206, on the 'Midland of £6,914, on the Great
1N orthern of £5,490, on the Lancashire and York-
shire of £5;027, on the Bristol and Exeter of £55,
can the North Eastern of £5,534, on the Great
Eastern of £5,132, on the Great Southern and
Western of Ireland of £315, end on the Glasgow
and South Western of £729.
The biddings for £300,000 in bills on India took
place yesterday at the Bank of England. The pro-
portions allotted were--to Calcutta, £133,700; to
Bombay, £120,000; and to Madras, £46,300, The
minimum price was as before—ls. 113-d. on Cal-
cutta and Madras, and Is. 111 d. on Bombay. The
applications within the limits amounted to £85,000.
Tenders on Calcutta and Madras at ls. -will
receive about 21 per cent,, on Bombay at 2s. Old.,
about 66 per cent., and all above these prices in lull.
Iteppeare that from this date the drawings of the
India Council on India, instead of being £700,000
per month, as has recently been the case, will be
limited, to £600,000 per month.

Two O'CLOCK.

ADVANCE IN THE RATE OF DISCOUNT.
The principal topic.of conversation in City circles
is an advance in the minimum rate of discount from
8 to 9 per cent., which the directors, after a careful
consideration, notified about an hour ago, So im-
portant an announcement has naturally occasioned
an unusual degree of commotion in monetary an
commercial circles; while at the Stock Exchanged
the depression previously apparent has been consi-
derably increased. The Gazette returns, which will
be published this evening, is expected to show a
conaiderable decline in the reserve of notes and stock
of bullion, and a large increase in the other
Securities.
In the discount market business for the moment
is almost suspended, and the joint-stock banks and
Private firms have not yet announced any alteration
iu their allowance of interest on deposit accounts.
The Dover Castle, from Victoria, has brought
£67,400, and the Megdalena, from the Brazils,
£19,297 in specie.
The Funds have receded I, the latest quotations
for Consols being 90/ I for money, and 91i a for
the June settlement. Numerous sales have been
effected, and the market presents a very disturbed
21)Pearance. Tte a:torations in the New Thrces,
Reduced Annuities, and Exchequer Bills, are un-
important, and most of the Indian descriptions are
nominally etesdy.
A general downward movement has taken place
in the Foreign Market, ana business is dull.
Turkish 6 per Cents., 1862, are 701- ; ditto
Consolides, have dee:iced a, to 00a j; Me 71
xi

COURT OF BANKRUPTCY.
(Before Mr Commissioner Holroyd.)
IN RE MEIKLA3I.
This bankrupt was described as of Bryanstone-square and
Waltham-villas, Brompton, and this was a meeting for last
examination.
The amended statement of accounts by Mr F. B. Smart
shows Dr. to Cr. Xi,595 Ss ld ; ditto holdin security,
£1,700; liabilities, £31,0.10; Cr. by doubtful debts, £100;
property in the hands of creditcra, £2OO. In addition to
these sums, the bankrupt has given bonds to an immense
amount.
Mr. Chidley, for the assignees, now said that he had to
apply for a further adjournment, as the bankrupt had not
rendered accounts as directed by the Court, and stated his
total inability to do so, but another reason for the adjourn-
ment was that there was an appeal pending in the House
of Lords—it would, therefore, be desirable to adjourn the
matter till August, to see whether the appeal had been
heard, and the result, as possibly if it was successful ptrties
would come forward, so that the bankrupt would have ma-
terials to furnish the aceounts.
Mr. Brough appeared for creditors to a very large
amount, and supported the application for the adjournment,
es some benefit might; result, for at present there was not a
shilling for the creditors.
His Honour said hi) thought it was a case in which there
ought to be an adjournment sine die.
Mr. Chidley said the assignees had no desire to put the
bankrupt to inconvenience, and leave him open to arrest
by a creditor who had not paid his debt.
The examination was therefore adjourned.
Mr. Chidley theu tendered a proof for a Mr. Hargraves,
Cleveland square, for X 1,250. The proof was tendered on
the last occasion, and ordered to stand as a claim to ascer-
tain the value of three horses held by him as security—
viz., Inheritress, Filly by Mountain Doer, and Sister to
Horace, but on being sent for training to Mr. Dawson
they proved valueless, and were sold for 4 guineas, 17
guineas, and 25 guineas, being much under Mr. Dawson's
charges.
The proof was admitted for the full amount, and one by
Mr. Dawson for the difference on his charges.
(Before "Ir. Commissioner Goulburn.)
IN RE TITCXER.
This bankrupt was described as of Old Broad- street, bill
-broker. The ease has been before the court for a long time,
:and on the bankrupt applying to pass his last examination
.and discharge, his Honour considered that the bankrupt
.bad subjected himself to criminal proceedings, and the
bankrupt elected to be tried by this court. The prosecut-
ing creditors tendered their charges in writing, but subse-
quently obtained a rule nisi for leave to amend the charges.
Mr Sergeant Atkinson and Mr Brough now showed cause
against the rule, and the learned Commissioner read an affi-
-davit, by which it appeared that Messrs. Shooibred aban,
Boned the prosecution.
Mr Griffiths said that other creditors would probably
come forward And continua the proceedings.
His Honour said that the conduct of the prosecutors
almost amounted to a contempt of court. The proceedings
throughout had been conducted in a moat loose and unsatis-
thcte rule with costs.
faory manner, but all the court could do was to discharge
No day was named for further proceeding,

DRITISEI FUNDS—CLOSING PRICES%
GOVERNMENT FUNDS.
3 per Ceat. Consols
mit ....
ite Account, INlny 8 .......
...... 90 1 i I
834 90 x d
per Cent. Reduced ........
.... 88$ 8 i New 2i per,Cent. Jan lB9l, , .
,•
Ditto 5 per Cent., Jan. 1873... , lO7
Annuities, SO N"sf, (expire nth Jan., 1880 —
Ditto for 30 -yr- 8, April
expire sth 1835.
Ditto (RA Sea Tekgraph), Aug., l9OB.

March. June.
Exe'deem& Bills, Ll,OOO, 21 & 3 per Cent l5 8 4 dis
Ditto £5OO
.....
Ditto £lOO and £2OO
Sank England Stk, 41 per Ct.
INDIAN GOVEILN-InNT SITURITIES.
Ind;, Stock, 10 per Cent., April 1874. •• .
Ditto
5 per. Cent. July, 1870
Di i:o Aoreount ....
Ditto 4 per Cent., Oct, 11388
Do Certificates ....
Pitt() Enfaced Paper, 4 ;-_,er Cilat
Ditt 5
..
.:o So per Cent., Jan. 1872 .. Dit,i, per Cent., May, 1879
•• ---
Ditto Debentures, 4 per Ct., April 1861
Ditto ditto Aug., 1566
Ditto lends.Bl,ooo —
Ditto under £1,000.,

FOREIGN FUNDS—CLOSING PRICES.
Austrian Bowls, 5 per Cent
..
Ditto 1859
Brazilian 5 per Cent
Ditto 41 per Cult. 1852-58-60
Ditto 1303 • 85f
Buenos Avres 6 per Cent .
Ditto Account 95
Chitian 6 per Cent
Ditto 41 pet Cent
Colombian 6 per Cent
Cuba, 6 per Ce,lt. ..
Danish 3 per Cent., 1825
EAtiador New Consolidated, 1 per Cent —.Egyptian 7 per Cent
1011
Ditto, Second Issue
...
Greek 5 per Cent., 1824-5, ex-Coupons..
Ditto Acc0unt............
Ditto Ceupous
10
Ditto Account
Guatemala 5 per Cent.
Ditto, 1639 and 1859
rtaii,,n 5 per Cent.(Slarennana Railway)
'Mexican 3 per Cent
Ditto Account....
43f 21 f
I.oorisli. Imperial 5 per Cent
New Granada
Ditto 2 per Cent. 3l
Ditto Deferred
Ditto Land Warrants (Hectares)
Ditto Account...
I iitto 3 per Cent. (Uribarren)
Ditto 41 per Cent., 1862
Ditto Account
n
ortuguese 3 per Cent., 1653
Ditto Account
Ditto 3 per Cent., 1856, '7, '9, '6O, 62,'3
Ditto Account 4B
Ditto Scrip (1863) £3O paid — p
Russian 5 per Cent., 1822, -.4.; m
87 3 7
Ditto 41 per Cent.. 1850 B4
Ditto 3 per Cent 1859
Ditto 5 per Cent, 1862 Bsi
Sardinian 5 per Cent
Ditto Account
Spanish 3 per Cent
Ditto Account
Ditto New Deferred
Ditto Account..
Ditto Passive
Ditto Account 3ll 4
Spanish pert. of Coup net funded
Ditto Account
Swedish, 4 per Cent.
turitish 6 per Cent. 1854
Ditto Account
Ditto 6 per Cent. 1853
Ditto Account 6SI
Ditto, (.:10U Bend, 72 701
Mtto 6 per Cent. 1862
Ditto Account .. 71 701
Ditto £lOO Bonds 7Ol 1
Ditto 1863
Ditto Guaranteed, 4 per Cent lOO
Venezuela 3 per Cent.
.Ditto Account
Ditto 6 per Cent., 1862
-"Ditto Account
IDitto 11 per Cent
Dividends on the above payable in Lend u.
Austrian, 5 per Cent,. Ex. 10 Florins. -.-
Belgian 4 per Cent., Ex. 251...
Dutch 21 per Cent., Ex. 12 Guil 6l
Ditto 4 per Cent. Certificates
Italian, 5 per Cent., 1861, Ex. 25 francs —
Ditto Account 671

THREE O'CLOCK.
Consols Money
Ditto Account, June

BANKRUPTSXHARGED WITH CONCEALING PRO-
PERTY.—At the Manchester City Police Court, yes-
terday, John Taylor and Joseph Hiram Mayoh were
charged, upon two informations, with concealing about SD
worth of cheese after making a deed of assignment, and
with refusing to give up a cashbook to their trustees. After
the case had been opened by Mr.. Higgin, who appeared
for the trustees under the deed of assignment,' Mr.
Edwards, on behalf of the defendants, raised a ques-
tion as to the jurisdiction of the Court, maintaining
that the matter should be adjudicated by the Com-
missioner in Bankruptcy. Mr. Ellison, however, de•.
tided that the Court had jurisdiction, and the case
was proceeded with. It was then shown that in January
the defendants were partners in a provision shop in Shude-
hill, where the partnership had been carried on about three
months, On the sth or 6th of January the defendants sent
20 cheeses, worth about £O, to Mr. Ben. Whittaker, pro-
vision dealer, Every-street, for which they had received no
order. On the llth of January the defendant Taylor called
on Mr. Whittaker in the usual way of business, and when
asked why he had seat the cheese, he replied that he thought
it would suit Mr. Whittaker. Mr. Whittaker told him it
would not, and Mr. Taylor promised to send for the
cheese to his warehouse. Very shortly afterwards Taylor
pact Mr Whittaker in the street, and told him either that
he had sold the cheese or that he would try to re-sell it, and
he also informed him that he was about to make arrange-
ments with his creditors, On the 14th January, finding that
Taylor did not send for the cheese, Mr Whittaker hired a
cart and delivered them at the defendants' warehouse. At
about half. past three 'that afternoon, the defendants exe-
cuted a deed of assignment, and at about four o'clock the
defendant Taylor removed the cheese from his warehouse
to an outbuilding described as a coach-house, occupied
by Mr W. Bentley, druggist, Shudehill. The cheese was
removed there by a porter named Rothwell, who stated
that, when Taylor paid him for the job, he told him " he
had no occasion to say anything to anyone about it."—
Mr Henry Hargrave and Mr Edwin Whitworth, provision
dealers, trustees under the deed, stated that the cheese had
not been accounted for to them.--Mr Ellison said it was
difficult to know how he could say that an offence had
been committed against the Act of Parliament. It was
true that the trustees said the cheese had not
been accounted for, but was that conclusive ? The
beginning of the cheese transaction with Mr Whit-
taker was perfectly fair and regular, and the
delivery of the cheese to Mr Bentley might only
be the fulfilment of a contract entered into before the sign-
ing of the deed.—Mr Higgin said that if any such contract
existed the defendants could not fulfil it, because the sign-
ing of the deed divested them of all their means.—ln reply
to Mr Higson, the magistrates' clerk, Mr Higgin said that
the trustees had not traced the goods beyond the possession
of Mr Bentley, who had not been examined before the Court
of Bankruptcy. The defendants had been examined there.—
Mr Ellison: Yes, but you don't bring their evidence into
Court,—After consulting with the clerk, Mr Ellison said that
though the ca©e was surrounded with many suspicious cir-
cumstances, it was one of a class that required to be made
out upon stronger prima facie grounds than ordinarily
induced a magistrate to send a case for trial. He, there-
fore, did not think it would be of use to send it before a
jury. The second cha-ge, of withholding the cash-book,
and wlYch was stated to be a weaker case than the other,
was not gone into, the council arranging to proceed no
further with it till it had been more fully considered.
THE BISHOP OF MANCHESTER AND THE VICAR
OF ROCHDALE,—"Ile General Purposes Committee
of the Rochdale Town Council havo submitted to Mr.
Davidson, Q.C., a case similar to that submitted a short
time since to Mr. Mellish, Q,C., as to the right of the
Vicar of Rochdale, without the consent and concurrence of
the Bishop of Manchester, to sell to the Corporation the
excepted glebe lands for a public park. We understand
the learned counsel has given an op.nion to the effect that
the right of sale is vested exclusively in the Vicar, and
that the Vicar alone can give a legal title to the lands,
that the Bishop is altogether an unnecessary party, and
and can only object to the alienation of the land on the
ground of fraud on the part of the valuers, or culpable ne-
glect amounting to constructive fraud,

to 42 _;; ditto New Loan, I, to 2 1 dis.; Greek,
22 ; Spanish Passive, to 33z. ; Portuguese
are 481 ; the Confederate Loan has dropped 21 per
cent., to 62 (34; and the Russian Scrip is 411 prem.
In the Railway Share Market the operations
have not been very extensive, but in some few in-
' stances prices have shown a firmcr tone. Metro- I
politan have improved £1 to £2, and Great Eastern,
Great Western, and Lancashire and Yorkshire, each
ss. North Western,'lowever, have declined 10s,
The Foreign and Colonial lines remain inactive,
without any material change of importance.
Bank and l'vliscelianeous Shares are inactive.
Alliance have improved to 621; Bank of Queeris•
land to 19; a ; wlaik Imporial have declined to 39 1;
Oriental to 66 8; and Uaion of London to 56; 1;
Hudson Bay CouipAny realise 18; ; International
Financial, 11 ; Crystal Palace stock, 33; and
London Financial, 26T00 I.
foflowing are the current qaotr.tions ofseme
of the princip-a tics projtc!s ;—Provincial Bank..
iug Corporation, 1 petrn. ; International Land
Credit, preui. ; TetegraLl Construction, 1;
prem.; SAloniere Hotel, 11 prem.; North Aus-
tralian 3 1; prem.