The Sun.
London, England, 1864-09-07 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, SEPTEMBEh 7, 1864.

SHE CREDIT FONCIER and MOBILIER
of ENGLAND (Limited).
Capital, Two Millions,
In 100,000 shares of £2O each.
Of which 50,000 shares will be issued to the shareholders
of the Credit Foncier (Limited) and the Credit Mobilier
(Limited), and 20,000 shares will be issued to the public.
£5 per share, or £500,000 will be called up. No further
call is contemplated. The reserve fund will amount to
£200,000.

forthwith without deduction. Should a less number be
allotted than is applied for, the sum paid on account of
such application will, so far as it sill extend, be applied in
payment of the sum due on allotmeut.
Copies of the Report of the Credit Foncier (Limited) and
Credit Mobitier (Limited), above referred to, with prospec-
tuses of this Company, may be had on application to the
bankers, solicitors, stockbrokers, or the secretary.
London, Sept. 1, 1864.

FORM A.
FORM OF APPLICATION FOR SHARES.
(To be retained by the Bankers.)
To the Directors of the Cr6dit Foncier and Mobilier of
England (Limited).
Gentlemen,—Having paid to your bankers* the
sum of £ . being a deposit of £1 per share on
Shares in the above Company, I hereby request that you
will allot me that number ; and I agree to accept such
shares, or any less number you may allot to me on the
terms of the prospectus, at £2 13s. 4d. premium per share;
and I agree to pay the deposit on allotment, and to sign the
articles of association of the Company when required ; and
I authorise you to insert my name 03 the register of mem-
bers fur the number of shares allotted to me.

Usual .....
Name in full
Residence
Profession .....
Date S
*lnsert bankers' naves.
1864.
s.ber,

THB CREDIT FONCIER AND MOBILIER
OF ENGLAND (Limited).
The fo'lowing Circular has been isgued to the existing
Shareholders in the Credit Fonder and Credit Mobilier
(Limited):—
Temporary Offices—SO, Lembard-street, E.C.,
London, sth September, 1864.
Sir,—l am instructed by the Directo7s to inform you that
they have fixed MONDAY, the 12th in3t., as the last day for
receiving APPLICATIONS for SHARES under the pri-
vilege reserved to you as a shareholdet in the Credit Fonder
(Limited), or in the Credit 14Iobilier (United).
All options not claimed before or on that day will be con-
sidered as renounced, and the shares not claimed will be al-
lotted elsewhere.

I am, Sir,
Your obedient servant,
ALFRED LOWE, Secretary (pro tern.)

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line, got away in advance, Lytham, Hawkshaw, and Lady
Maud, who headed the °theta, lying a couple of lengths in
their rear. They ran thus into the straight, when Prac-
titioner quitted his horses and came on with a slight lead
into the distance, where Hawkshaw came up on the outside,
the four running together to the stand, where Mr Hodg•
man's colt headed the favourite, and won a fine race by a
neck, There were lengths between the sic md and third,
and a head between the third and fourth. Jane Shore was
fifth close up, Bolero sixth, and Dawdle next. Lady Maud
was last.

The Castle Park Stakes of 5 soya each, with £5O added, for
2-yr-olds; colts, Bst 101 b; and fillies, Bst 71b. Winners
extra; with maiden allowances. The winner to be sold

for £3OO. T.Y.C. Three-quarters of a mile. 9 subs.
Lord Westmoreland's Auditor, 9st (in. 41b).. (J. Goater) 1
Mr Crook's Brown Willy, 9st (in. 41b extra)

, .
(Fordham) 2
Mr Pavne's Volatile, Bst 21b (H. Grimahaw) 3

Vigilant, King of Greece, and Cross Beak also ran.

_ . ...
Betting-7 to 4 agst Volatile, 3to 1 agst Auditor, sto 1
agst Brown Willy, and 6 to 1 agst King of Greece, and
Vigilant.

After running a few strides the favourite appeared in ad-
vance, Auditor lying second, with Brown Willy and King of
Greece in close attendance. As they neared the halt-mile
post Volatile increased her lead, which she retained to the
half distance, where she was caught by Auditor and Brown
Willy, the three finishing a good race home, Auditor win-
ning at last by a neck, half a length between the second and
third, King of Greece was fourth,Vigilant fifth, and Cross
Beak last, beaten off.

The Queen's Plate of 100 guineas; 3-yr-olds, Bst 71b ; 4-
yr-olds, 9st 71b; 5-yr-olds, 6-yr-olds, and aged 9st 121 b,

The Two Mile Course.
Mr I'Anson's Caller Ou, 6 yrs, 9st 121 b (Challoner) 1
Mr S. Harvey's Stanton, 6 yrs, 9st 121 b (A. Edwards) 2
Mr Perry's Fantail, 4 yrs, 9st 71b ..(W. Boyce) 3
Mr Bevill's Ethelred, 3 yrs, Bst 71b (H. Grimehaw) 4
Betting-4 to lon Caller Oa.
Stanton jumped away with a strong lead, Ethelred lying
second, the favourite third, and Fantail fourth, wide inter-
vals separating each. On entering the meadows Ethelred
dropped away, and Caller On took his place, and waited
upon the leader into the straight, when she came out and
won in a canter by five lengths ; a bad third.
BETTING ON THE COURSE.
ST. LEGER.
11 to 4 agst General Peel (taken)
3to 1 eget Blair Athol (taken)
100 to 12 agst Miner (taken)
15 to 1 agst Baragah (taken)
40 to 1 agst Black Rock (taken)

CITY BETTING—YESTERDAY.
WARWICK CUP.
6 to 4 agst Oldminster (taken and offered)
2to 1 agat East Lancashire (taken)
sto 1 agst Clown (taken)
COUNTY CUP.
4to 1 agst Walloon (taken)
sto 1 agat Durham (taken)
6to I agst any other (offered)
NURSERY HANDICAP.
7 to 2 agst Trapeze (taken)
sto 1 agst Doefoot (taken and offered)
6to 1 agst Tilt:(taken)
THE ST. LEGER.
sto 2 agst General Peel (taken and offered)
3to 1 agst Blair Athol (offered)
9to 1 agst Miner (offered)
100 to 6 agst Baragah (taken)
25 to 1 aget Cambuscan (taken)
25 to 1 agst Master Richard (offered) '
25 to I agst Knight of Snowdon (offered)
40 to 1 agst Claremont (offered)
40 to 1 agat Breeze (offered)
45 to 1 agat Peon (taken)
50 to 1 agst Black Rock (taken and offered)

head for the west buoy of the middle, the western extremity
of the course, and was walking away from the Thought in a
surprising manner. It was evident that under the conditions
of the weather she was overpowering her antagonist, and,
without any unforeseen accident occurring, the day's race
must be hers. The presence of Penney, too, on board of
her was a sufficient guarantee that no part of the advan-
tage gained by her would be lost if skill and forethought
could prevent it, The wind was now west by south,
steady, and fresh as ever with it, and the harder it blew
the more the Torpid seemed to like it, and danced over
the waves gloriously. The Thought seemed too much
pressed by the head under her second jib, but there would
be no time or chance for shifting it for a smaller one
until the western mark-boat had been rounded. This was
reached and lulled round by the Torpid at 12h 29m 50sec,
and the Thought at 12h 38m 35sec. The Torpid sent up
her topmast and hoisted her jib-headed topsail for her run
to the eastward, but the Thought's topsail was kept down
as she followed on the same course. In nearing the Noman
the Torpid took in her topsail and sent down her topmast,
while the Thought at the same time sent her topmast on
deck, and made preparations for shifting her jib. The
Torpid had increased her lead in the run to the Noman
under her greater press of canvass, but the crew of the
Thought were doing their best in preparing their vessel for
her work back to the westward in sending her topmast on
deck and in shifting her second jib for her fourth. The
Noman was passed, and as St Helen's Bay was opened and
the vessels hauled up for their course to the Nab they felt
the full pressure of the wind in their sails, and again began
to be somewhat lively in their motions, leaving each a
riband of foam on their track through the tumbling waters
under their sterns, and literally covering their decks with
broad sheets of angry hissing seas. The Nab was jibed
round by the Torpid at lh 40m 55sec, and by the Thought
at lh 53m lOsee.

There was a nasty roll of sea off the Nab, but the
Thought was jibbed round in beautiful style, and com-
menced her pursuit of her rival to the westward with her
sheets well in. "A stern chase is a long chase," according
to the old seaman's rule, but the Thought's crew appeared
nothing disheartened as they dashed their gallant little
vessel at the seas in pursuit of the Torpid, which, stiff as a
house under her canvass, was again forereaching in the
amazing style she displayed in the last turning bout to the
westward. The latter vessel was the first to go about, and
made a short bend inshore, but at 2h 5m had again brought
her head in the same direction as the Thought. The wind
was steadily freshening, and both craft had quite enough
of it as they reached over the Warner Shoal, the Thought,
indeed, almost too much of it, as each blast pressed her lee
gunwale under water.
At 2 15 p.m. the Torpid took a reel in her mainsail, and
directly afterwards the Thought was shook up in the wind
and a second reef taken in hers. This was soon followed by
a third reef, the breeze had increased to half a gale, and the
plucky Thought was being altogether overpowered by the
force of the wind and sea as she plunged her head in the
seas, loading her decks with water, and flinging the spray
over her masthead. The Torpid was known to be somewhere
ahead, but where she was exa?,tly could not well be ascer-
tained, owing to the blinding spray ; but the 15-year old
" crack" was kept at it although all hope of her winning the
day's race, barring accidents, was now gone. The Torpid
could be seen at times in her position ahead, gallantly
slashing along. Her spars might give way certainly, but at
present they were all right, and while they continued so her
game was safe. The Torpid, under her able management,
continued to keep her spars all safe, and at 2 56 p.m. luffed
round the west buoy of the middle, and eased off her sheets
for the goal, where she arrived at 3h 17m 30s, the Thought
following round the buoy, at 3h 15m 30s, and finished at the
goal 20m 30s behind the Torpid.

The Thought was thus beaten considerably in time in her
first day's race, but she was not dishonoured. She was sent
on the race too light in ballast under almost any circum-
stances of wind and weather—the fault of her owner, who
perhaps placed too groat confidence in her sailing powers
when she was pitted against a vessel expressly designed and
built to beat her. The weather, too, was all in favour of the
Torpid with her large midship bearings, but had it been
light winds the results of the day's sailing might have been
reversed. As it was, Penney, the pilot of the Torpid, added
another leaf to his laurels as a thorough yacht sailor by his
vessel's victory. To-day the Thought has a chance, round
the isle of Wight or inside the island, according to the wea-
ther, of yet proving the victor, but it is almost too much to
expect such a result at this season of the year from a really
old craft like the Thought.

The City of London.

The appearance within the last few days of a blue-book
prepared by the Chamberlain of London invites attention to
the state of the Corporation finances, a subject but little
understood beyond the precincts of Guildhall. Of late the
heavy charges imposed upon the civic resources, ample and
buoyant as these are, for extraordinary purposes have occa-
sioned a feeling of uneasiness in the Court of Common
Council ; the subject has more than once given rise to grave
discussion among them, and the standing committee at their
body whose especial duty it is to watch over the financial
concerns of the Corporation, have again and again enjoined
on them the necessity of caution and moderation. Previous
to the division by Act of Parliament of the coal duties in
1861 to purposes as well without as within the city, the
average revenues of the corporation from ordinary sources
in the ten years ending with 1863 amounted to £212,600 a
year, or about half as much as those of some of the minor
German States. The annual average of late, allowing for
that ehange, has been £157,190. At the end of last year
the Corporation had, by operations extending over a series
of years, anticipated its income by £323,018 ; in other
words, it was in debt to that amount. That was the exact
excess of its liabilities over assets at that time on its purely
monetary transactions, and but for the fortuitous circum-
stance of the,sale at the beginning of 1863 of 20,000 shares
in the Metropolitan Railway, at a profit of £57,437 odd, the
Corporation would have been so much the more in debt.
The sale, by the way, resulted in a net produce of £257,437,
of which the sum just mentioned was clear gain, Against
the debt, however, the value of the Corporation freehold and
leasehold estates, market sites, vacant ground, and public
buildings ought properly to bo set, which would turn the
scale greatly in its favour. The liabilities include loans
raised for the purpose of the Metropolitan Cattle-market,
£443,000; for the city improvements—viz., New Cannon-
street, £405,000 ; Threadneedle-street, £40,000 ; for meeting
outstanding engagements (Reserve Fund), £350,000 ; for
Pauper Lunatic Asylum, £43,500 ; for Metropolitan
Meat and Poultry Market, site and western approach,
£128,000. There are other liabilities contingent on the
failure of trust funds—namely, loans for Cannon-street
Improvement (temporary), £30,000—and bonds leaned for
rebutlding the Royal Exchange, £85,000, and for repairing
Blackfriars Bridge, £53,100. The total amount of liabilities
was £1,582,980 14s 6d at the end of 1863, Of this sum,
£160,000 fell due in the present year, and had to be pro-
vided for, and £200,000 more will become due in 1565. In
less than three years, in fact, the bond debts of the Corpo-
ration have increased considerably upwards of a quarter of
a million of money. At the close of 1861 they amounted to
£1,463,100—0f 1862 to £1,526,100—0f 1863 to £1,578,100—
and at this last-mentioned date contracts had been entered
into with reference to the present year which would raise
the outstanding obligations to £1,772,100, cr £309,000
more than they were at the end of 1861. Notwithstanding
that the Common Council have such faith in the elasticity
of the Corporation resources that they were lately urging
the First Commissioner of Works to intrust them with the
making of the proposed new street from Blackfriars to the
Mansion-house, in connection with the Thames Embank-
ment, at the estimated cost of about £700,000, the Cham-
berlain has since felt it his duty to direct their particular
attention to the fact that the cash of the city will be over-
drawn by the 10th of October next in a probable sum of
£43,320 odd, caused by an excess of expenditure over and
above the ordinary income of the Corporation, and that sums
amounting in the whole to £121,393 had been recently
voted by them for the extraordinary works or for leasehold
investments, and had to be provided for out of the current
revenue—namely, far improvements of the Guildhall
£26,700—supplementary vote for same, £5,900, for pur-,
chase of an oyster meter's place, £l,ooo—aor dwellings
for the labouring poor, £37,045 ; towards improvements in
Nowgate-street, £3,000 ; for the Pauper Lunatic Asylum
(supplementary), X 20,000 ; for a police station and infirmary,
£13,750 ; and for purchase of leasehold premises in Basing-
hall-street, £14,000. In July last a complaint was made by
the Coal, Corn, and Finance Committee that in consequence
of the neglect of an important standing order of the Court
no provision had been made for meeting that large outlay
of an extraordinary character, except in the case of £26,700
for the repair of Guildhall. Again, the Corporation are
about to expend £420,000 for the site of the proposed rreat
and poultry market in Smithfield, and for the construction
of the new street in connection with it, on the credit of the
market tolls, in addition to £200,000 in the erection of the
superstructure, for which latter sum they expect to be re-
couped by the rents of shops in the market. With all this
vast outlay in prospect their leases of the Finsbury es
will fall in at Christmas, 1867, by which in one swoop they
will for ever lose about £13,000 a year. It woroeuldpective be.rathex-
er
out of place, perhaps, to refer hero to the p
llolbornv alley,
epsetni
md i
at ut
erde
atb CorporationLt6hoeo,o
0 o
and
in
erecting raising
th
ridge at
en
as w b-
Blackfriars, estimated at £350,000, inasmuch ethe cost
of
venue of the city, but be chargeab e on specific funds, in
those great works will not be borne
iout of the current re-
the hands of the Corporative, under the authority of the
acts of Parliament.
The ordinary revenue of the Corporation is derived prin-
cipally from rents, from fines on the renewal of leases, from
the produce of the various markets, of which there are five,
and from duties on corn and fruit. In 1860 it amounted to
£N6,783, in 1861 to £202,353, in 1862 to £166,108, and in