The Sun.
London, England, 1852-06-10 00:00:00

Tin Holdorliess Haut Stakes of 5 soy's. oi;
added. Tao miles. (9 Cubs.) •

Cogia
Little Queen
- Six ran. Won by balta lerigth.
The Beverley Cup of 100 sous., added to a Handicap
Sweepstakes of 10 sovr. each, 5 ft, and only 3 if de-
clared. Two mik's. (24 Subs., 13 of whom de-
elsred.)
Kiltbleen, 5 cre, 6st 131 b
Gholab Sirgh, 4 yrs, 6st 131 b...
Eight ran. One by half a neck.

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... 2

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PARLIAME NTARY COMMIT TEES.
THE ELECTRIC TELEGRAPH COMPANIES.

Yesterday, on the re-assembling of the Committee,
Right Hon. Lord Hctbam, chair►nan, Earl Jormyn, Mr.
Bahiock, Mr. Hanley, and Mr. West,
Mr. -KEATINQ., Q.C., in the absence of Mr. Sergeant
Wrangham, from indispotidon, replied on behAlf
of the British Electric Telegraph Company's Bill
an able address of between two and three hours' Jura•
tation. - The L arned Counsel called on the Corn-

mittee to pays the
a principle of deep iPnriepaoTtbalt7cea nteb
re
oBaillyl ,
tees b
ii ti iveol
ilevninteg,
the promoters of the 13ill, but to the mercantile com-
munities of the country, who now sought at the hands
of Parliament to he I eliered from a combination
the most fortehlnble, and a monopoly the most start-
ling, that had ever been permitted to exist in a flee-
trading commercial country. The patient attend= the
Committee had given to the fortnight's ieciairy was a
sufficient guarantee that they would deal out even-
handed justice as between the public, the promoters and
opponents of the Bill, the opposition to which, though it
had been masked end subdivided amongst railway com-
panies, was really and truly to be traced to its source as
1
wbephenson, Mr
the opposition of the Electric Telegraph Company alone.
The Learned Counsel then proceeded to contest the fal-
laeetthat had, he affirmed, been sported so frequently,
leat erroneously before Committees of the Rouse of
been effectually viz., that
Commons,st and advocated in the present instance by Mr.
er competition impossible, combination was
always
passible, was 4
that competition
always event or in other wares
. Locke, end others,
eventuated in combination. This absurdity had
the British Telegracpilied on
case of railways,
by Parliament, not only in the
when it 'de bute more particularly in that of tele-
graphs,f
effectual competition should in 1850, ordaining that
graphic communicatioln defiance, however, of thiilsia
ould take place in matters of tele-
graphic
telegraphic con
a.
granting the original 13111 o
Upon that occasion the old
to do that, by means of seclusive they proceeded
presentwould not do for them,
exclusive dames which company proposed restrictive and
which Parliament menete
decision,dee:el: towiitnhsetrht.e
application of the
and the result was the
British Telegraph Company,sppeecttiatilon.poweirt
that should overrule their beingfor
the
for the
ittepeubtleieagmm
original
carrying out
for
ret
the
eeffeecetmivme
fiat of the Legislature that competition wont
public advantage, and to determine that
will of Parliament should not be frustrated. It resolved
n
w
to contend that any new system of telegraph should goidie
by the common road, when they recollected what It: new
state of things bad arisen in connexion with the great
lines of traffic, that new towns had sprung up, and w-
channels for the transmission of intelligence been opened.
The evidence, moreover, that had been adduced before
the Committee as to the expediency of common-road or
underground telegraphs went to negative this proposi-
tion, if it were not sufficiently negatived by the fact
of the old company having constructed some 4,000
miles of telegraph with scarcely any of it under-
ground. If the old Telegraph Company were of opi-
nion that a more effective competition would be
carried out by road, why did they sacrifice thou-
sands in exclusive agreement with the railway com-
panies for the express purpose of keeping the new com-
pany off their line? And there could not be any effectual
competition unless the Committee passed the Bill. The
Learned Counsel then, at considerable length, com-
mented in detail on the evidence that had been adduced,
and contended for the expediency and propriety of con-
ferring limited liability on the British Company, just as
limited liability was conferred on joint-stock com-
panies in general, on the fair principle of putting those
who supplied intelligence on a large scale oa the same
footing as those who supplied light and water. With
limited liability the shares would be taken up, and it hod
been given in evidence that one party alone would taker
25,0001. worth of stock. Without limited liability the
promoters could not proceed, and the evidence of Mr.
Macgregor and Mr. Cobbold, two Members of the House,
had been given in favour of conferring it. The new
company would then in some degree be able to encoun-
ter or compete with the old company, though the latter
were backed up by one of the moat powerful commercial
interests in this country. Even if the new company
were invested with the powers sought for, the old com-
pany would still retain the enormous advantages of pri-
ority of establishment, weight, capital, and influence,
of which in the legitimate struggle for competition no
one wished to deprive them. Ho denied that in seeking
to go upon the railways it was anything in the nature
of an invasion of the rights of private property, railways
being public highways and being granted for public
purposes, though to a greet extent these powers
given under the original Acts had from circumstances
become inoperative. The contracts entered into between
the Telegraph Company and the railways were contrary
to the spirit of the law, and which, while they had ef-
fectually tied the hands of the new company, had been
anomalously represented by the Learned Counsel on the
other side as containing the elements of free trade. It
had been endeavoured to be shown that the construction
of a second lino of telestrapn could not be carried out
consistently with the safety of the railways. This was
ludicrous in itself, and to prevent anything like jeopardy
to the various parties concerned, it was specially pro-
posed that this part of the subject should be placed
under the control of the Board of Trade, and this would
be an ample safeguard. After negotiating with the
new company for a couple of years, the London and
North-Western Railway suddenly lent themselves to
the delusion that danger would arise to the working
of the railway and the public traffic, but this was
merely claptrap. The assertions as to the probability
of messages being intercepted or stolen were alike un-
worthy of credit. In a state of honest competition these
things could not exist, and English workmen were not
very susceptible of the charms of transportation for life.
Self-interest actuating the competing parties on both
sides would suffice to prevent danger. The Learned
Council then proceeded to show the remunerative re-
sults, as exhibited in the financial statement laid before
the Privy Council, of the operations of the old Tele•
the proposition that there
y he represented had given
counsel on the other side
gwranspahmCpolemrpoaonmy, afOrjliastisefycinongd company. Mr. Ricardo
gh
eandesrtaaltee
adt
itshfaa te
ttthoen
;c oemn
dpayneyt
had not called a single disinterested commercial man to
say that he was satisfied. Complaints had been made
of insinuations as to the use or abuse that was made by
the old Telegraph Company of its extraordinary and
the tra-
exclusive powers. Nothing, perhaps, had been deft.
nitely proved on this point; but what was to prevent it,
when they remembered it had come out in cross-exami-
nation,tpratehricetnel
Learned
cidniePgnaci representatives of
privilege e
over
those
o f
that the shareholders of the old company
con-
sisted to a great extent of railway representatives
Rnamembers of the Stock Exchange, and that
in
them ls
thats
company
toh
ne
ew ems messages messages
dof h s
btahtvee p
e
s
Go-
vernment and the public. r
eluded by calling on the Committee, Counsel coat'
nu-
merous petitions presented in
view
of the
all the large towns in favour of to the House from
Bill, to pass it by affirming the the British Company',
The Committee then cleared preamble.
the room, room, and deliberated
for about half
an ha t
admitted, hour, and on the public being re.
The NOBLE 0 ,IAIRMA.
and best attention to the N said—Alter giving our fullest
tracted inquiry, we h subject-matter of this WY pro-
tracted
sufficient case for theave come to the conclusion that
Bill has been made passing of the preamble
_on% this
this statement, I me" At the same time art i tof.
form the parties, with directed by the C.l33seeeetli"gat
that the opinion of
thee view to our fartrhe lammo, as
against the South-B Committee i5,,,,0m thatpainy andsoplaint of %stern Railwllto`in wade, that
any sort
they stand on a appears to hays
footing
to that of any
other cump4ja broughtt:Aridly different
t.en3,
the intention of
the Coma:lib-2i
require the
n
Lee insertion of anises for
s_ to requu
I am desired also to, inform
the protection of that line.
the parties,
that although the
Committee will, when the
proper time arrives, sanction the clause giving limited
liability to the promoters of the Bill, it is the intention
of the
Committee to require the insebertnion ofda ctlakuse
which shall prevent any amount°Perakins of capitalg u l eshr sail be
under this, Bill u amount,crhain
so be understood, is to be
paid up. That it is t, •
between .his and to-morrow, and
considered amongst us
n Of course that will not
then we shall be able to go 0 ! . .
sking any suggestions of their owe.
wevent anybody ra____________

MARKETS.
--_,--- -
BRISTOL, Junz 9.
s E 00,6.. here was little or nothing done in
-daTBy.II ARE
The nnly sale reported WAS--
R A:Ljketitots.Yo
the share ni _ „‘,
Taff Vale, Newt '7B P.
LIVERPOOL, JUNE 9.
•
si,oeg Excassuaz.—We have no improvement to notice
The transactions have been very limited, and prices
varied
da--
to- Y- littlo from those which have been quoted for the het
iv dar The transactions reported were—Birkenheads
fLincas 'r,and Cheshire, 22/. Shares, 5743 dis.—Caledonian,
19 s_l6—Eastern Counties, 9 3-16—East Lancashire, 17%—
Edinburgh, Perth, and Dundee, s%—Lancashire and York-
shire, 72/—Ditto, Fifths, 6 dis.—London and North-
" Western, 122%—Midland, 67%—South-Eastern and Dover,
20%—York and North Midland, 23%.
MANCHESTER, Jurit 9.
and Lincolnshire,
Sig EXCHANGE.--There was an improved feeling ex-
hibited in the share market to-day, and a good business
has been done at firm prices. The sales reported were—Black-
burn, Preference, 21%—East Lancashire, 17%—Ditto, Pre-
-3A9_3m4
234—Manchester Sheffield,
sFhietfatise,ld,y,,, Lancashire
faenrde ne e ,
Yorkshire,quarters,
72
Preference, 13%—Ditto New Preference, 13-16 D.— -
- os-
westry and Chester, 13—W u - astern and
est Riding, 4—So th E -
Dover, 20%.
BIRMINGHAM, Jsr NE 9.
STOCK EXCHANGE.—The business to-day was rather li-
mited, but prices were firm. The only
Shrewsbury and Birmingham (B), 5
/. 13 tr. ansas. 9d ctions
lropshire
were—
Union, 3;i dis. . W

ELECTION RIOT.—A. somewhat serious riot took
place on Thursday, at Epworth, on the occasion of M!.
Christopher, Mr. Banks Stanhope, the Conservative candi-
dates, and Sir Montagu Chohneley, who comes forward on
the I=l3c:trough interest, addressing the electors. The riot
resulted in some broken heads, the demolition of the hilst
jogs, and the windows of au inn.
The Cambridge University Commission had a meet-
ing yesterday at the official residence of the First Lord of
the Treasury, in Downing-street. Present—The Bishop
Chester. the Dean of Ely, Sir John Herschel, Professor
bedgwick, auci the Rey. W. H. Datege, secretary

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