The Sun.
London, England, 1852-09-14 00:00:00

LONDON,

TUESDAY

might be brought before us. It is to •be borne in
mind that the civilization of this country has proceeded
upon, besides the acts I have brought before you, one
of the most important acts, indeed, of the time with
which you must all be familiar—l mean the humane
policy that dictated the emancipation of our slaves
within the last twenty-six years, and therefore
everything we can do to uphold that humane
conduct we are bound to do." What con-
nexion Negro Emancipation has with Madame
POITEVIN'S heifer, we are quite unable to ascertain ;
it is only " gentlemen like. OURSELVES" (i. e., like
the magistrates who sit in Petty Sessions at Ilfordand
have such a brilliant and oratorical chairman), who
can possibly show this. Happy Ilford ! blessed with
such wise and great and good Unpaid ! Take their
own words for it, and they are the salt of the earth.
The self-complacency of this Mr. W. DAVIS, chair-
man of the Ilford justices, is exquisite. Each Essex
" thaw-bacon" (as COBBETT called them), who lis-
tened, with gaping mouth and erected ears, to the
" eyes of Europe" oration, musthave departed smitten
with intense admiration of " gentlemen like our-
selves," and chuckling over the idea that " Ilford
Justices had licked Lunnon lawyers and French fur-
reners, any how." It must have been a glorious ex-
hibition—almost equal to the performance of Hamlet
by the late JOHN LISTON, or that of Romeo by the
living ROBERT KEELEY !
This melo-dramatic scene occurred, at Ilford, on
Saturday. Yesterday, at Westminster, Mr. ARNOLD
—a stipendiary magistrate who dispenses justice,
knowing the law—gave his judgment on a parallel
case, against the same defendants. A sensible, well-
reasoned, plain-spoken judgment it was. Having
compared the conflicting evidence, as to whether one
of two ponies who went up with a balloon (and had
previously done so 150 times, without apparent hurt
or harm,) was injured by the ascent,—having come
to the conclusion that it was not proved " that the
animal suffered either from pain or fear on this occa-
sion,"—having giving his opinion that the putting the
animal to the risk of an accident was an act of
cruelty, but not within the intention of the Act of
Parliament,--and having fully and properly declared
against ucb exhibitions (which will not again take
place), Mr. ARNOLD considered the case as not
proven and dismissed the summonses.

Both judgments, that at Ilford, as well as
that at Westminster, are correct, we doubt not.
In one, the defendants admitted the charge,
in the other they rebutted it. But the contrast be-
tween the way in which the judgments were given !
Mr. ARNOLD did not say that he was sitting "as
judge and jury"—nor that the matter deeply involved
" the welfare, the peace, nor the morality of this
'kingdom"—nor that " the eyes of Europe" were upon
him,—nor did he connect the subject with that of
Negro Emancipation—nor, in a word, did he go out
of his way for the sake of dit.play. He did his duty
es a sound lawyer and good magistrate, and, in so
doing it, has made a contrast between the paid and
the Great Unpaid magistrates not much in favour of
the latter. The days of the Great Unpaid—"
gentle-
men like ourselves"—are coming to a close, we hope.

The great easiness of the money market, the low
rate of interest, and the prospect of a continuous and
abundant supply of bullion from California and
Australia, have induced capitalists to look anxiously
for favourable investments. Already the Three per
Cents. are above par. Stock and shares of every de.
d
scription are at fair prices, the " quotations being
well supported." Under such circumstances, dearly.
abnodughtotheexr speculationsteachesperienceate
thatul foreignd
the stream of bullion from our shores, will be brought
prominently forward. The moneyocracy, tempted by
the promise of a higher rate of interest, or perhaps by
calculated to
loans,
and
iavnst,
the hope of getting off the bonds or coupons at
handsome premiums, will rush into such under-
takings, and create an excitement, that will speedily
be carried to the utmost degree of intensity. The
money, which retained at home, would afford ample
employment to the industrious classes and ensure
remunerative wages to every man able and
willing to work, will be sent out of the country, not
only being rendered of no practical utility, but be-
coming almost mischievous, through the spirit of
gambling excited. It is therefore highly desirable
that Euglish money should be invested in English
securities, or in speculations to be carried out in the
British dominions—whether in the mother country
or in the colonies is of little importance.
Among the most important of these securities, to
which we would once more direct attention are the
shares in the different railway lines, many of which
have recovered from the undue depreciation under which
they were so long labouring, and afford as safe in-
vestments as any that can be named at the present
moment. We believe that the dividends of the great
trunk lines have seen their lowest points, and that while
prospectively there may be an increase, there is but
little, if any, danger of a reduction from present
rates. But still there is a sort of vague and undefined
fear that prevents parties from retaining their invest-
ments, even if they should have made them on
advantageous terms. They become anxious to
realise their profits, and sell out in order to do so, not
reflecting that such favourable opportunities may not
again arise. Nothing ,but full information as to the
position and prospects of the several undertakings will
remove this erroneous impression, and convince
capitalists of the propriety of seeking permanent in-
vestments in the stock of the great railway companies.
The dissection of the railway balance-sheets
for the second half of the year 1850, for 1851,
and the first half of 1852, which has just
been put forward by Mr. WADESON, of the Stock
Exchange, contains much sound practical in-
formation, and will be found well worthy of
perusal. It gives, in a condensed form, in a single
sheet, 01l that ought to be known respecting the
principal companies for each of the four last half-years
—the average number of miles open—the gross re-
ceipts and the traffic receipts—the working charges
(including taxation and Government duty)—the pre-
ferential charges, whether as loans, guarantees, or
otherwise—the reserve, depreciation, or renewal fund
—the total receipts and disbursements—the balance
applicable to dividend—the dividend paid and ba-
lance carried—the maintenance of the way and
stations, and the general locomotive work, showing
the per-tentage of working expenses on traffic
receipts.

The synoptical view thus afforded, and the oppor-
tunity for comparison thereby allowed, will at once
satisfy the inquirer of the soundness of these great
concerns.

The year 1851, of course, constituted an excep-
tional period. The extraordinary traffic occasioned
by the Great Exhibition produced a vast increase in
the receipts when compared with the corresponding
portions of preceding years ; and it is no ordinary
praise to say that there is little, if any, falling off,
but that in almost every instance the high position
assumed in 1851 has been fully maintained. We
commend then railway stock to those seeking safe
investments, and Mr. WADESON'S dissection of the
several balance-sheets as a trustworthy guide to the
value of that stock.

SOUTH-EASTERN RAILWAY.
Gross traffic receipts for passengers
Bd2 goods, week ending Sept. 11,
.£l9 580 8 2 ,
Ditto, Sept. 13,18517... ... 20,420 16 0
Decreas mg)
in 1852 ... 710
London Terminus. Sept. 13, 1852.

ree Chronicle)OP "
at the regret to announce the demise of this
WeD(ETAZ TUB DOWAGER LADY urODYBEy.—
excellent lady,
Godfrey was relict of the late baronet
age of 81
years. Lady
Kilcoleman, and mother of the Sir John Godfrey, of
and estates, Sir
William
Dancanpyesent possessor of the title
children. Godfrey, and several other
ACCIDENT TO LORD PANNRIRR. The deputation
who waited upon Lord Panmure at Birnam Lodge,
Wed-
nesday last, inviting his Lordship to a public on
Perth, returned without obtaining an interview of ailliquet at
ship. We understand that the Noble Lord had beeneLord-
shooting the day previously, when he sustained an u
accident,ot
which prevented him affording an audience to the Lord
Provost and Bailie Irnrie, who had been deputed to wait
upon him —Perth Constitutional.
We feel regret in having to state that Loftus H.
Bland, Esq., M.P., for the King's County, has been most
seriously ill at Blandstorth House, since the 25th ultimo.
Though now somewhat improved in health, we are sorry to
say he is still far from being as well as the public in general
and his numerous private friends would wish him to be.—
Leinster Express.
LORD DERBY AT EDINBCBGB.—The Right HOD.
the Earl of Derby arrived at Douglas's Hutel on Thursday
night from his Lordship's seat at Knowsley. The Noble
left yesterday for Balmoral, to relieve the Earl of M
almesbury in attendance on her Majesty.—Courant of 1
Saturday, 1