The Sun.
London, England, 1852-12-30 00:00:00

CITY RAILWAY TERMINUS.

A meeting of the company was held yesterday, at the
London Tavern, to receive the report of the directors as
to the state of the share list, and the proceedings and

prospects of the company.

Mr. Sheriff Croll occupied

the chair.

The following report was read :
" The directors of the City Terminus Company have
convened this meeting frankly to explain to their share-
holders the circumstances that have unexpectedly arisen to
prevent the company complying with the standing orders
of Parliament in time to obtain their bill during the pre-

sent session.
" The directors would not have called their shareholders
together at this most inconvenient season, but they feel
their conduct would have been open to censure if, knowing
the position in which they are placed, they had concealed
it from their constituents until it would be too late for
them to apply a remedy, if they should be so disposed.
" Although the merits of Mr. Pearson's plan had bean
under the consideration of the public and of scientific men
for nearly two years, a company intending to carry it into
execution was not formed until the 9th day of December
instant. It will be remembered that the large public
meeting assembled at the London Tavern, on the Ist of
November (with a careful regard to prudential considera-
tions rarely observed' in the formation of companies), ap-
pointed a committee to investigate and report upon the
estimates and calculations upon which Mr. Pearson based
his claims for its support as a commercial undertaking.
" The committee were necessarily engaged until the 9th
day of December in discharging the duties imposed upon
them, and it was not until the 18th day of December, after
they had received Mr. Tite's report, that they were enabled,
at the adjourned publio meeting, to recommend the forma-
tion of a company in conformity with the principles agreed
upon at the first public meeting.
" The committee selected from amongst such body the
present directors, who accepted the trust, not coveting the
honours of a public station, or seeking, as capitalists, the
profits of a large investment, but as men of business anxi-
ous to assist in effecting a great undertaking, in favour of
which public opinion had been so strongly pronounced,
and which, after mature deliberation, they were and are
convinced will be beneficial to the community, and profit-
able to those who embark their money in its execution. MURDEROUS ATTEMPT AT BRISTOL.—On Tuesday lasi
"By the standing orders of Parliament it is necessary the police of St. Philip's were 'informed that a man
that a contract deed for three-fourths of the capital re- named Jefferies, a labourer who lived in the Dings,
quired (in this case 45,000 ten pound shares) should be contemplated murdering several members of his family,
subscribed and deposited in the proper office, on or before and probably his own destruction. Alarmed at the in-
the 31st instant, that 45,0001., and ten per cent. on the telligence, an officer was despatched to Jefferies's resi-
amount, should be paid in early in the ensuing month. deuce, to inquire into the circumstances of the case.
Although the time is so short and the period approaching
when men of business and men of leisure are occupied by Upon his arrival at the house, the wife informed him
that her
engagements peculiar to the season, the directors, trusting husband was in a moody an. d obstinate state of
mind h
, and was resolved upon destroying his four youngest
to the merits of the measure, took courage and issued the
children and himself, and she begged. the officer to inter-
prospectus on the 9th of December, closing the period for
making applications on the 20th. Although only eleven fere to prevent his carrying out his terrible purpose. The
days intervened, and the prospectus had been only ,therein constable as hastily as possible proceeded to the room
advertised a large number of applications were received. where the husband was, and found him making the neces-
" The directors, after having used their diligence and sary preparations for effecting the wholesale murders
care in selecting and rejecting applications, allotted up- he meditated. He had upon him four strong cords,
wards of 25,000 shares to be paid upon within four days, each of which he had fixed with that peculiar knot
the directors undertaking, in addition to their qualification which is used by the common hangman, and which is
shares, for which they signed and paid, to appropriate called the " Tyburn knot," and in his hand was as open
amongst themselves and the officers for their immediate knife. Upon the officer addressing him, he made no
connections and friends 10,000, leaving the remainder for
secret of the crime he contemplated, and said he was
special application after the usual allotments had taken
determined to hang them up like kittens, and that if he
place.
could not do for them that way, he would with the
" Shortly after the issuing of the prospectuses, the
changes in the Government absorbed a large portion of the knife. He also said it was no use interfering, for if he
public attention, and a counter current of mining specu- could not do it in twenty-four hours he would in forty-
lations has set in with a force that scarcely allows time to eight hours. The constable then thought it right to
consider any other description of undertaking. secure him, but he made a desperate resistance, and beat
"Under these circumstances, the directors regret to say and kicked him about the head and body. A second
that, out of 25,000 shares allotted, little more than 10,000 policeman and other assistance having fortunately come
have been signed and paid upon, and there appears no pro- up, he was with some difficulty secured, and taken before
bability of the deed being executed by the requisite num-
them
agistrates, who directed him to be detained that
ber in time, unless it be by application for assistance to
some capitalists connected with one of the great railway the state of his mind might be ascertained.
companies, or to some eminent contractor, who may be THE STATES.—The last advices from America men-
willing to take and pay the deposit upon a large number of tion that several changes have lately been adopted by
shares, if he can have the execution of the works guaran- various States of the Union with regard to their finan-
teed to him upon fair and reasonable terms. The directors cial regulations. sln Maryland the new constitution
are unwilling to avail themselves of either of these expe- provides that the legal rate of interest shall not exceed
dients without the sanction of the shareholders, although (3 per cent. In Louisiana it has been prohibited to con-
they are frequently, if not generally resorted to under si- tract State debts except for specific objects, authorised
milar circumstances. The directors therefore have con-
legislative acts and it is provided that in no case shall
vened this meeting to announce to their shareholders, that
the entire debt of the State be increased beyond
unless some such measures be adopted, or an unlooked-for
assistance of strength be obtained before the 31st instant, 8,000,000 dollars, or 1,600,000/. sterling. When-
the event the possibility of which is contemplated in the ever a loan is raised of the amount of 100,000
prospectus will have occurred, and any shareholder may dollars, the act by which it is authorized must
have back his deposit on the 7th of January, without de- also provide the means for the payment of interest
duction, upon production of the banker's receipt." and principal. With regard to the banking insti-
Mr. CHARLES PEARSON begged to offer some addi- tutions of this State, it is provided that in case of sus •
tional remarks in reference to the position in which they pension the holders of notes are to receive payment be-
were placed. He never before had been connected with fore any other creditors. In Illinois and Indiana new
a company placed in the position of that company, banking laws have been introduced of a very dangerous
namely obliged to seek assistance from contractors or character. Instead of being compelled to pay their
postpone the undertaking. Generally speaking, he did notes in specie on demand, the banks may, if they see
not wish to have recourse to contractors, but there were fit, avail themselves of 30 days' delay, the basis of their
circumstances connected with the present project which circulation may consist of other securities besides State
took it out of the class of undertakings where such a pro- stocks, and there are no guarantees as to the character
position would be undesirable. The corporation of Lon- of the proprietory. In the four repudiating States of
don, acting as commissioners appointed by Parliament, Mississippi, Michigan, Florida, and Arkansas, no new
were now actively engaged in clearing a large portion of financial measures appear to have been introduced, nor
the ground that was to form the site of this railroad. has any movement been made by them towards a recog-
For that purpose Parliament had given 60,0001. to be nition of their obligations. At the same time their
raised upon the street tolls, 25,000/ to be raised upon general prosperity is beyond all precedent.
the coal tax, and a further sum of 87,0001. to be raised NEW ZEALAND.—The Cresswell, Captain Williams, has
upon the coal tax. On clearing the ground, it was brought advices from Auckland, to the 14th of September,
likely that they would without delay proceed to erect and has performed the quickest voyage out and home
edifices upon it, as they had done in Cannon-street, yet accomplished. The attractions of the Victoria gold-
and the inhabitants of the district would naturally fields were beginning to be felt in an extended degree,
press upon the corporation to do so. If, therefore, the many of the small storekeepers and tradesmen being
company were not enabled to go to Parliament in the about to sail to them. There was, however, no move-
present session, the pressure from without might in- ment of importance among the farming population,
duce the corporation to let the ground upon build- whose profits, if they have the wisdom to remain, are
ing leases, and the result would be, that at a likely to be much greater by supplying the miners with
future period they would be obliged to purchase the food than by working with them. The new bill for a
ground with buildings upon it. In that event they 1 constitution for New Zealand was the chief subject of
would have to pay an enormous sum for bricks and mor- discussion in the papers ' • and the clause securing the
tar, whereas, if they bought it now they would buy it payment of the New Zealand Company's debt out of the
as land. (Year, hear.) He believed that the corpora- land fund of the northern province had met with unani-
tion of London was animated by a high-minded spirit, mous condemnation. A journal, called the Taranaki
and that if they found that that company could make the Herald, had been started at New Plymouth,