The Sun.
London, England, 1852-08-18 00:00:00

1.7171
pc V:4 Tea, m;:771, er4
N°. 18,692.] LONDON, WEDNESDAY
!Ma grlir
, AUGUST 18, 1852.
iiraM 7

CAPTAIN PENNY'S EXPEDFR ITAIONKLIN. N IN SEARCH OF SIR
JO tiN

the compositions made to parties who had suffered from
accidents on their rails. He did not object to fair ex-
penses in that wa., ; but there was' no doubt that mes''
improper attempts were, in some cases, made, to extort
money from the company, and actions of course had occa-
sionally to be defended. It was not always easy
who was and who was not a sufferer by an accident
to a train ; and when he mentioned that in one case the
parties alleging that they had been injured refused to
see the raecical man sent to them by the company, the
proprietors could imagine iu what hands the directors
sometimes found themsavcs. On the whole the law
charges were fair and moderate. The solicitors' bills
were all carried to the taxing master in the Court of
Exchequer, which was one guarantee for fairness ; and
now employed a law agent, if
besides this the company to prove
he might call him so, to relieve the solicitor us to Par-
liamentary business, so that all was done that could be
done to neutralise heavy demands of this kind. In
conclusion, the lion. Chairman stated that the direc-
tors were on the most friendly footing with the
Brighton Company, and were carrying out all the ar-
rangements, for the common traffic, made with that
company.
In question from Mr. EDWARDS as to Mr.
Scott's
n(stheer to a
new manager's)
qualifications,
Mr. W. HARDING (the secretary) stated that Mr.
Scott bad been employed by the principal lines of Scot-
land, by the Edinburgh and Glasgow, by the North
British (of which he was the sole goods manager), and
by the Edinburgh, Perth, and Dundee. All these corn-
ponies spoke in the highest possible terms of Mr. Scott.
Mr. EDWARDS protested against the directors not
taking a manager from among their own old officers.—
(Hear, hear.) lie also protested against the system of
the directors going security for their own officers. They
ought to take the Guarantee Society.—(Hear.)
The CHAIRMAN—You may bo sure I'll never go secu-
rity again.—(Laughter.) In answer to questions as to
the security which had been given by Mr. Ford, it was
explained that it had consisted of a bond for 4001. given
change endorsed by good' partite:ger 1,000/., a portion
of which was being recovered, and. also of a moiety of a
tilt-
by a lady, which she would sad of bills of ex.
tr
lease.
PROPRIETOR—What security does Mr. Scott give?
The CHAIRMAN—For 1,0001 on the Guarantee So-
ciety.
Mr. lizrua—The rule now is, to take only the secu-
rity of the Guarantee Society.
A PROPRIETOR—What is the total amount of Stovin's
defalcations?

RAILWAY INTELLIGENCE.
SOUTH-WESTERN.
The ordinary half-yearly general meeting of the pro-
prietors in the London and South-Western Company was
held yesterday at the Nine Elms Station. The adver-
tisement convening the meeting else: announced that
after the ordinary business was transacted, a special ge.
coral meeting would be held to consider the report of the
directors concerning proposed extensioes.
Mr. Chaplin, chairman of the board of directors, pre-
sided. The attendance was not very large.
The report was taken as read. On the question being
put that the report be received and adopted,
Mr. UPCROFT asked whether the present accounts
contained all the debts and liabilities of the company up
to the,3oth of June last? and if not what were the out-
standing amounts.
Mr. Hoysts (one of the auditors) replied that the esti-
mate future expenditure was 131,0001.; but he be-
lieved that would be exceeded by about 50,0001. if every-
thing was done contemplated and ordered. The ac-
counts, of course, did not embrace the works yet to be
executed.
Mr. UPCROFT called attention to the estimate of the
enc tmo rtids
made,
theirta
ttrheeproer twoboiunldlBs4oBo;n abned a t6o
ptheer
cpernedtiction
directors in their report in 1848; and to the prediction
the
divi-
dend. The dividend of 3*, which the proprietors now
got, was a very questionable one; and he attributed this
to the directors net closing their capital acceunt.—
(Hear, hear.) Unfortunately the interests cf the friends
of the directors, viz., of the attornies, the engineers, and
the contractors, were entirely opposed to those of the
shareholders; and the result was such ruinous
specula-
tions as has been entered into, and as were still recent-
mended.—(Hear, hear.) What the proprietors had to
do was to force the directors to put a h c eck upon them-
selves by closing the capital account; but unless they
(the proprietors) get the powerful support of the London
newspapers, he didn't, think they would ever be able to
manage this. He wished this question to be answered
by the chairman—at what period did the directors them-
selyes contemplate closing the capital account?
The CHAIRMAN did not set() 'W'at -groundit the Hon.
Proprietor had for his dissatisfaction. In 1848 the di-
rectors made a very careful estimate of the probable out-
lay that would be required previous to closing the capi-
tal account; and for two or three years he had, for the
board, repeated that statement, making the current de-
ductions each successive year. Last year he had not
had the pleasure of mooting the proprietary; but he
would willingly on this occasion go again into the matter.
They had received 8,722,5161.; they had expended alto-
gether 8,614,885/., and they had a balance of cash in
hand of 107,6311. Then he came to the liabilities. The
last estimate made was 640,8301., for all the works con-
tracted for. They had spent, up to the 30th of June of
that 509,3491.; leaving to complete the proposed works
131,502/. In following out the estimates, experience
had pointed out many directions in which deductions
could be made, while on the other hand, occasions had
occurred requiring works in excess of the aggregate es-
timate. A case in point, illustrating the latter case,
might be mentioned. The great accumulation of car-
riages in consequence of the extension of the
line to 241 working miles had opened the question
whether it was a wise economy to leave these
carriages without cover when standing in the winter,
having been used only in the summer traffic; and the
directors had taken on themselves to build a large ear-
riagh shed, buying a piece of land at the point where the
li
Richmond branch left the main line, going there to avoid
the heavy ground rent, which would not have allowed a
purchase nearer London. The cost was 7,0001., not cal-
culated upon; but obviously such an expenditure was the
true economy. Again, in consequence of the increased
traffic, it was found that additionsl water way was re-
quired at the Nine Elms station, with warehouses, to
conduct the business there properly; and that expense
was gone to. But, setting the unexpected outlays like
these against what had been saved in deductions from
the original calculations in other directions, ho thought
they would be able to do the whole with the 131,5021.
This statement ought to be satisfactory, inasmuch us it
showed that at the outset there had been a very careful
investigation. (Mr. Uperoft—Yes, but the story as to
the dividends?)--(gear, hear.) Since the old estimate
in question it had been retolvtd by a vote of the proprie-
tary to spend 16,000/. to go Fe Alton; 4,000/. on ac-
count of the North Devon, and 90,000/. to complete
the line to Andover. Well, after these things were
done with, there would be, according to his estimate, as
balance of cash in hand, 107,631/.; for unissued shares,
.172,4621; for calls in arrear, 6,6811.; for calls not made,
188,7981; further borrowing powers, 110,5581.; value of
the surplus property left in hand, 187,701/ : making a
total of 1,073,8311. Deduct from this total the old esti-
mate of 131,5011, the 16,0001. for Alton, the 4,0001. for
Taw Vale, and the 90,000/. for the Andover extension,
and there would be a balance of assets over liabilities of
832,329/. He did not want just yet to touch on the sub-
ject of the special meeting, but ho did not hesitate to say
this—that if the capital account should bo closed—and
afterwards desirable projects presented themselves—
there wore twenty ways of opening a new account,
without mystifying the general capital account by
mixing up old with new items.—(Hear. hear.) In re-
gard, therefore, to the proposition which would be made
at the special meeting, if they could not bring forward
a new capital account, clear of the old oe, why they
would not touch the matter.—(Llear, hearn.) While on
his legs, answering the Honourable Proprietors, he
would go Lite the general subject. He thought that,
on the whole, their affairs did not look at all un-
satisfactory.—(Hear, hear.) Ile would not compare
this year with 1851, which was quite an artificial year,
as affected railways, but, taking 1850, he found that
from the let of January to the 10th of August, 1852,
they had a clear excess in receipts of 914/. a week.—
(Hear, bear.) This was a tolerable sum; and the result
evinced the wisdom of the liberal policy which they had
exhibited towards the public in regard to fares, &c. The
increase in the goods traffic was proportionate: for in
the last six months they had carried 177,262 tons,
which was 12,000 tons more than in any preceding half-
year. There were also to be considered the advanta-
geous circumstances growing up around themhem to South.. Looking
to the influence of the junctions, giving t
ampton a communication with the north of Eogland,/o
the growth of the mail steam-packet service, to the calls
for shipping at Southampton in connexion with the emi-
gration movement, be fancied be could see for this
comanye
a very satisfactory prospect.—(Hear, hear.)
p
As to
th
expenditure be confessed it looked heavy,
but it was an exceptional amount. The last year,
with its great traffic, had brought a sudden great
pressure en the machinery and stock; and the effect
of that wear and tear had
now only been felt in this h
dahe
lf-
year. He was, hoe ever, glad to state, an
said it advisedly, that there was a marked improvement
in the whole of the company s machinery since the me-
chanical department had been placed under the direction
of Mr. Beattie. In the reduced consumption of coke, in
tho speed with which the heavy trains now travelled,
and in the diminution in the use of pilot engines, there
were great causes for general satisfaction. The cost of
workiug, taking the whole thing. oer the average of
miles worked, was only Sid. a mile; and this state of
things offered a fair comparison with the circumstances
on any other line south of London, which had not those
advantages in regard to the price of coal enjoyed by the
northern companies. The plant was altogether in a most
efficient condition, and be believed they would get on
most satisfactorily this yeer.—(Elear, hear.) There was
one matter which he could not pass unnoticed; .he re-
ferred- to the pain and anxiety the directors had under-
gone in regard to the unhappy conduct of their old ser-
vant, Mr. Stovin. Mr. Stovin had served the company
from the very beginning, and unlimited confidence hod
been placed in him by all parties. lie (the Chairman)
had originally introduced him to the company, and had
been, with members of his own family, security for him.
His health having become deranged, and his books
getting behind hand, the directors got him to go away
for a tow weeks' relaxation, and, unexpectedly, he went
to America. Letters had been received from him indig.
nantly denying the alleged embezzlements charged
against him; and ho (the Chairman) had written to him,
offering to pay his passage back, and begging him to
return, to place matters in a proper state. As yet he
(the Chairman) had not ascertained whether Mr. Stela
had received that letter. The affair was still unsettled,
therefore; but ho (the Chairman) hoped it was still
pos-
sible some explanation would be thrown over the con-
fused transactions in question, and that things would
turn out better than had been expected at first. As a
natural consequence of the affair of Mr. Stovin, other
irregularities connected with it bad been discovered; and
the directors were at present in a difficulty with a Mr.
Ford, a carrier, who had brought large traffic to the
line from the western districts, who was debtor
to the company to a considerable amount in debtor
Stovin's books, and over whom they bad no clear hold.
The hold they had had was in the securities on property
which had appeared valuable and available; but it now
appeared that he had got rid of this prop!rty, and ape
praTrieted the proceeds irreclaimebly. His affairs
were
now before the Court of Bankruptcy, and nothing further
could be said about them as yet without prejudicing the
result unfairly. In dealing with carriers like Mr. Ford,
either as wholesale or retail carriers, certain risks must
be run, for credit had to be given to them just as they
were obliged to give credit; but the directors felt that
to conduct their own b •
the more they could manage
ness the better it would be for their interests. Accord-
ingly-, they were determined to get such matters more
into their own hands; and they had a now manager join-
in them, indeed, that very day (Mr. Scott), who had had
great practical experience
in the north, and who would
carry out the new principle effectually. Mr. Uperoft
had made an unkind allusion to their professional agents,
The law bills, indeed, would seem to be heavy; but the
reason was that at the commencement of last session
twenty notices had been served on lines connected with
their own, and all the matters to' which these notices re-
lated had required careful watching,
in Parliament. The
array of twenty had been :reduced to fourteen on the
meeting of Parliament; and though these expenses were
all charged to revenue (and, as to closing the capital ac-
count, this proved that theirs was a good emore
closed than some companies who boasted of having
closed their own come'e let el the revenue was really un-
influenced by the circumstances with which this expen-
diture was connected. The on. Chairman then
(de-
tailed the subject-matter of the notices.) Then there
were law charges in e • with appeals on poor-
onnexion
rates-450/. havin d then there were
g gone that way; au

It will, •
ranged.itttorne
productivethe fet.ee :era
undoubtedly
neigh-
bourhood, aexodPeacd
of local Uovenience in a populous neigh-
add-.'oeof capital tot ho company, and be
jrtohpce suelda,iriinlvinoelv.,e, no
Mr. HERAPATII concurred with the Hon. Gentleman
in thinking 5 per cent.
dared that their very
high.
When they debenturesconsi-
were only at 3i per cent.,it
was perfectly monstrous. He should like to know who
the gentleman referred to
was?
The CHAIRMAN said there
from Wimbledon to Wands had been a line proposed
party. This
was
looked
and Croydon, by a se-
paratecd
riiOde
at ad by several parties, a
amongst others by Mr. George
have a large property at Mitcham .—r, who happened to
Mr. HERAPATII—We know hH and a laugh.)
he is
The CHAIRMA.Na good calculator.
--he scheme also came before the
board. At this time the Crystal p
tapis, and the desirability of taking it Palace
was
on the
to -eew,:or to some
other part of their own domains, w"
tion; but these plans were superseded builder considera-
y
the Brighton
Railway, and so all chance was lost of the South-
Western making any .arrangement. Nevertheless, the
line being in the direction of
the Crystal Palace,
question still remained whether some satisfactory the
that terms
could not be come to with the South-Eastern,
still make it worth the attention of this board
to
enter-
tainmight
the project. At all events, it ought to be
recol-
lected that if nothing substantial came from the
South-
Eastern which might make it worth the while of this
company t nothing would be done in the m tt a er.—(Hear )
A PROPRIETOR suggested that it would be best to
strike the passage out of the report.
Another PROPRIETOR thought that if they
were to
make the line at all, they ought to make it themselves,
and borrow the money at 31 per cent.
A VOICE--lIOW can you, if your capital account is to
be closed?—(Hear.)
Mr. lIERAPATH moved that the paragraph be ex-
punged from the report. He had also been informed
that a report had been made by Mr. Peter Clarke upon
the working of the Nine Elms station, and that he had
pointed out bOw 1,8001. a year Right be saved. Was
that correct? Again, was statecl,.that the secretary had
'
given
evidence before a Parliamentary Committee upon
the Woking Cemetery scheme without the sanction of the
board. He should like to know whether that rumour
was true?
The CHAIRMAN said, that although the Woking
scheme was a new one, it was so like a former plan
which had been maturely considered by the board, that
it had not required so much examination. Their secre-
tary had been instructed to meet the parties when they
came to the York-road office, and also to give evidence
before the Parliamentary Committee. He could assure
the lion. Gentleman that the company were pledged to
nothing—that they were not pledged to give up any
land, or to any sort of condition or agreement by which
they would not be fairly remunerated. They had agreed
that a train should be run daily, and that for all other
matters they should be paid at their own discretion. Ho
could assure the on. Gentleman that the board were not
bound to anythiling from which he would wish them to
depart.—(Hear.)
still teased his motion res
Mr. HERATATH ppecting
the Mitcham line, and expressed a fear lest they should
be Bidder-ised altogether.—( A laugh.)
Mr. UPCROFT seconded the motion.
Mr. MALINS said that by the terms proposed they
would avoid all Parliamentary expenses, and that it was
a very cheap bargain.—(ola) He had had some expe-
rience in a similar case, in which the proprietors had
been made to ply after the rate of more then 10,000/. an
acre.—(Hear, hear.)
The CHAIRMAN thought that gentleman ought to be
satisfied with his promise that the directors would do
nothing with the line until they again met the proprie-
tary.—(Hoar. hear.)
Mr. DicaeresoN condemned the idea of this line as
altogether ridiculous. The new Crystal Palace would
excite at first, very likely, a popular furore; and to meet
the rush a line was already in existence which would
reap all the advantage. But by that time the South-
Western's branch was ready that furoro would be over;
and there would be no traffic.—(llear, hear.)
Mr. Locaee M.P., thought it was an error in the di-
rectors to meet this point at all in the report, since the
paragraph IPd to nothing.—(Heer, hear.) Were the
question as to this proposed line really before the meet•
mg, he would certainly say that the terms were too
high.—(Hear, hear.) But as no sanction was asked, and
as nothing was proposed, the amendment was unneces-
sary, and further discussion of the subject would be
waste of time.
Mr. Aniersoer differed entirely from Mr. Locke. If he
know anything of the customs of corporations, he was
sure of this, that to agree to the report, this paragraph
included, would be to give the directors authority to
undertake this new line.—(Hear, hear.) lie objected
completely to the proposed' guarantee. Guarantees had
been the ruin of railways.—(Hear, hear.)
The CHAIRMAN said, that as the wish of the meeting
appeared to be that the paragraphs in question should be
struck out, the directors would have no objection.
The objectionable paragraphs were agreed to be
erased, and the report was then unanimously received
and adopted.
After some discussion on a resolution of an unimpor-

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The CHAIRMAN—The total amount is only 2,9201.,
and against that is to be set what will be recovered from
the sureties, and what may yet be accounted for on ex-
planation.
Mr. Sergeant GASELEE thought that what had oc-
curred indicated that a lax system prevailed in the ma-
nagement of the company.—(Hear, hear.)
Mr. HELPS addressed the meeting on the paragraph in
the report relating to the election of directors. He begged
it to be understood that he was not placing his own
name in opposition to Mr. Sergeant Gaselee or to Mr.
Mortimer, but that he was acting in entire concurrence
with them. He was only a candidate on the supposition
that there was a third vacancy. The paragraph to which
he alluded was the following:—" In pursuance of the
promise given by the chairman at the adjourned half-
yearly general meeting of the 25th February last, two
vacancies at the board were announced on the 6th June,
which vacancies the shareholders will have to fill up at
the present meeting. The two vacancies were caused,
who has been for twelve
first, by the retirement of Mr. Aikinatt man of great com-
mercialyearsa in
exopsterciffienccieenatnddiracbciticir f ability,
this company; and, ,
se-
condly, by the lamented death of General Reid, M.P.,
a large shareholder, most assiduous in the duties he
assumed when he was elected a director, and endeared
both to his colleagues and the staff of the railway, by
the kind interest he took in all that concerned the just
treatment of the servants, and the honourable conduct of
the company's affairs. Since the period of the an-
nouncement of these two vacencies, the directors regret
to state that the Right lion. the Earl of Morley, the
iable vice-chairman of the Board of Directors, has found
it necessary to,relinquish his seat, is conatquence of the
circumstances, in regard to the extension of this line
westward, which were the avowed reason of his having:
joined this board in 1846, being in his opinion changed."
Now, they would all remember the circumstances under
which the promise was given that the vacancies in the
direction should be placed at the disposal of the pro-
prietors at large. It was to be something in the way of
a compromise, or, at least, of a concession, to the 900
proprietors who had complained that they found it
impossible to obtain any share in the management
of their affairs. It was to be an act of grace—
something more than the law would have compelled
the directors to do. The Hon. Gentleman who
had made the promise on the part of the directors (Mr.
Smith), said that two of the board would retire abso-
lutely—that they would reeiga and net offer themselves
for re election; and that the vacanciee so caused would
be placed at the disposal of the shareholders. Now,
had that promise been performed? He would not arty
to the 'cam., for be should be the last man in the world
to hold any one to the mere letter of his promise. But
had it been kept in the spirit?—(Hear.)
The CHAIRMAN—Mr. Aikin retired for the very
pus pose.
Mr. Hears was aware of that. He would not deny
that there had been a partial performance; but a part
was not the whole; and it was this to which he wished
to draw the attention of the company, and, if necessary,
performed their undertaking? Lie
of the public; he did think that this was a question
of social m trality not unworthy of the attention of the
British press.—(Cheers.) Had the directors substan-
tiallydthat they had not; for the vacancy caused by the death
of General Reid was one that was entirely out of
their power to fill up- It was true that in the ori-
ginal Act the power to fill up the occasions
vacancies caused by death, resignation, or the like, was
placed in the hands of the board; but in a subsequent
Act that was repealed, and the power was conferred on
the shareholders at large, to be exercised by them at a
or special general meeting held afterwards—that was,
tinimteh presentepres er prescribed
sbey,
This seat bad thus been placed at their disposal, not y
the act of the directors, but by the act of the law. How
then could the board take credit for it as a part perform-
ance of their Promise?—(Elear, hear.) If there was any
dispute upon the point, it ought to be decided, not by
the board, but by the shareholders, for it was 8° •ele-
mentary a principle of morality, that the interpretation
of a premise should rest, not with the party by whom,
but to whom, it
-- was made, that ho was surprised that
the directors should require to be reminded of it. 73
(Hear, hear.) Mr. Helps then proceeded to criticis9.tobr.
passage relating to the resignation of the Earl of bl-
hich
lay, and after some conversation as to the date at which
the
it had been received, he concluded by urging
upaa laced
laatwtili
this, very
name]y
er yy 'a
meeting.th e fils(tamheeln:ythl'earebil..y)
meeting either to insist upon having another seat p
the
at their disposal, or in some other manner taking
matter into their own hands.
eln ' state-
Mr. Seemsl'ct
admitted the truth of Mr. .----.- 8 8
the shateholders at the last meeting,
ment of what he (Mr. Smith) had premised to a body ofa
wish they hod expressed to have an infusion otf
that
blood, as it was termed, into the board;
but
deatha of
time none of them could have anticipated theof
General Reid, who was then as likely to live " "yone
them. By the Gallant General's lamented decease,another.
vacancy was created, and they had made
Surely that was a substantial fulfilment of their promise.c
e which
Mr. Sergeant GASELEE regretted the courts which
had
the board had taken, for he did not think
thavident, for
fully carried out their promise. This
was
Cfor re-elec-
in deference tnecw
how long could General Reid offer himself .
tien?—(A laugh.) It was, however, hey deter-
mined to him (the Learned Sergeant) what
the
proxies
mined to do, as ho did not intend to use
way or the
which bad been entrusted to him, either one
the pro-
other.—(Hear, hear.) Still he recommendedbnds, and he
prietora to take the matter into their own
avvith the seat
should give his single vote for their dealing
in some way.—(Hear, hear.) bad been da-
The CHAIRMAN really did not see who ~ They bad
imaged by the course taken by the botbacray
should have
given the shareholders a premise that
That oppor-
an olVortunity of electing two directors.would be content
tunic y they had, and he hoped
they
ybe reduced, which
with it. If they wanted the board to be
directors would
was a very popular idea—(Hear) perfectly imma-
terial
elect a new mem-
ber,not object; but if they determined
ghter.) With re-
him comfortable and happy.—
(ljbae -had that morning
spect to Lord Morley's retirement,
Lordship intimated that
received a letter, in which his
Lelned by the ill health
his determination bad been collar—suffering, His (the
he was sure the board would dotuntheir best to make
under which he had Since been
0 Earl at present. Let
chairman's) advice to the meeting'
not elect a substitute for the Noble
the o new blood"
them wait a little and see
there were several
worked.—(Laughter.) Besides,s was that they should
settling at Southamp-
large steam navigation companies
ton, and there was also the, man might be found to
happen that a good mercantiiebe company. It might
would be able to unite
represent these at the board
and and advance their rote assure them that set
present the same time it
,UP. Wa9 the length of credit
present they had no such a n
na on items in the accounts,
was proper
cialit.gtuceresintst—he(irtlmeairn,dh,sepayr.:
After a few explanati?
A PROPRIETOR noiliCa t uau
given to the carriers?
and' Asubruear
The CHAIRMAN—When
three months. the security is good we allow
drew attention to the fol-
Another PROPRIETOR then .
calolYffered to make a branch
interested in the town
lowing paragraph in the report.
of being joined with
ea at Wimbledon to Mit-
from the station of the cctair on a perfect level, with-
cham, a distanee of twomiles'
! embankment, or obstruction,
on any interposing cutting,
this of 1 5 1 '
company ,OO . per
on a guaranteed rent from
coat.t
year,
e thisar, sper cent.
of
pboannsfibmleitpcahratcay,, lhoce
annum, being at the rate
woThisoh me npbai rtnaymi a. cahylwhiellah, appeariar capableec_
t
a branch which the Brighton Companyoc have
ertain agreed to
make from Croydon to Mitcham, on
theoffer conditions,
in question
with the same party who has ma .
o.rs, seeumpgatshtioesvecrayn attrac-
tive
aur:
nature of the building propertyh between Croydon
and to oydon
and Wimbleden, recommend t
enprp time during theauthorisen
them to take up the project at
Wally satisfactory terms tunog 6
ext:edyieet to do so, and mu-
tually

No. 11.
Bvo., in cloth, price 3s. 6d., by post free, 4s.
THE CURE OF STRICTURE OF THE URETHRA, on Princi-
ples at once Simple, Safe, and Efficient, in even its most Inveterate
and apparently Intractable Forms. To which is added, PRACTICAL
OBSERVATIONS ON THE TREATMENT OF SPERMATORR-
IICEA BY CAUTERIZATION ; its Inefficiency and Danger.
BY F. B. COURTENAY,
Member of the Royal College of Surgeons of England.
"Those who complain most loudly are those only who know not
how to use the common instruments
geons has been marked with all kinds of violence, an indifference
about the simple cure of diseases, and a passion for operations and
all the excesses and horrors of surgery."—John Bell's Surgical
yMr.
treated, Courtenay) a
a badhas
sees; ss
uhcec e s(
adduced, and on which he had operated.
Observations.—" -107
apgrroeoaft ofbi ahaisy
cvai
giaavaednythwebliicisbto3ll7r.
Syme
Such are cases ix., xi., xii., and xviii. No. ix. had resisted, for a
period of twelve years, the treatment by dilitation, and was finally
removed in as many weeks. But cases xviii. and six. appear, both
in duration, severity, and complication of symptoms, of a more ag-
gravated character than any detailed by Mr. Syme, and yet the
treatment adopted by Mr. Courtenay proved eminently successful."
—Proteascr LiZar3 on the Treatment of Stricture.

T, E COUNTRY MAKKET6.
IPSWICH, AUG. 17.
We had again a small market, and but little wheat on
sale; the growers were very firm in their prices, and an
advance of fully 3s and 49 per qr. must be noted upon
prices of last market day. A sample of choice new Tala-
vera wheat brought 56s per qr. The crop of wheat, it is
now clearly ascertained, has received much injury, and
om two causes; first, the mildew or blight, rendering
whole breadths of land valueless to supply corn for
human food; and, secondly, the wet and warm weather
has caused the wheats to sprout. We had at market
several specimens taken from the sheaves very much
sprouted ; it must be feared the white wheats are all
more or less thus injured.
PER. QUARTER. PER QUARTER.
Wheat, red
Ditto, white oos to OOs Oats oos to 008
Barley
Ditto ......
Beans
AVERAGES FOR THE WEEK ENDING AUG. 14, 1852.
Wheat
Beans •••••• 15 „ 32, Od
Peas
HULL, Auo. 17.
Messrs. Taylor and Bright's Circular states-The
following is a comparison of the imports into Hull to the
sth July, 1851 and 1852:-Wheat, 1851, 98,376; 1852,
9,963; barley, 1851, 90,923; 1852, 36,752; oats, 1851,
20,914; 1852, 5,717; beans, 1851, 18,040; 1852, 28,302;
peas, 1851, 7,805; 1852, 2,030; tares, 1851, 3,420; 1852,
650; lineeed,lBsl, 69,594; 1852, 87,679; rapeseed, 1851,
2,457; 1852, 3,791; oil cakes, 1851, 4,112; 1852, 4,674;
bones, 1851, 8,776; 1852, 11,525; guano, 1851, 1,069;
1852, 2,660. The weather during the past week
has been various : on the Bth, 9th, and 10th
much rain, which laid the heavy crops throughout this
district. Since then we have had dry cooling winds,
with a good deal of sun, just the weather desirable to
follow the rain alluded to above. Harvest is now quite
gocba
rinfe
iondgpciehtur
toha:Feln mildew,,
tlyaia tnsi
yedt
l d, sy:
eaufasastr.
srnwo
and sprout,
well
T 1 Wh well,
'.there
efil
le,canberinubee
utta
trs n, the
ottoimi
they
eytqualityhfsee wrwweht
vi
clbeeloayrmby
nep
oil
splendid
pia
mlnrepti
nesoo
means
nnois
dst;
eghearlrearcatleorrisileedriobuys • i
nTe
rhe ea
sterda d efi dr
mu rni
crags t he
onw eek h
the
pa sarbte eonf
holders, but by caution, almost amounting to inaction,
on the part of buyers, so that with a nominal advance of
2s per quarter in price asked, the actual business since
Tuesday has been quite inconsiderable. To-day we had
a large supply of wheat from our own farmers, and only
a small show of foreign samples, the late arrivals being
1 cleared off, and less offering from granary; the market
for both English and foreign must be quoted is to 2s per
qr dearer, but very slow sale at the advance. The late
import of barley having got pretty well disposed of; the
market is firmer, and in some instances a trifle dearer.
Oats are the turn in favour of the buyer, but beans fetch
6d more money. A good demand for peas, but none of
fine quality on the market. Linseed maintains its value,
with but a small supply for the general market. Cakes
still improve, and no flue foreign remain unsold. No
import of foreign rapeseed, and rape cakes continue
scarce and dear. Any arrival of bones would meet
ready sale.
The following are the present prices of grain
B. S. B. s.
Wheat, English, red 40 to 43 Peas, white and yel. 30 - 32
Do. white 44 -46 Do. grey ... 27 -29
Dantzic and Ko- Linseed, Black Sea. 44 - 46
nigsberg 42 - -46 Do. Petersburgh ... 42 - 45
Pomeranian and Do.Riga&Archngl. 38 -42
Hamburgh . - 40 Do. Konigsberg .... 36 - 40
Danish, 'Holstein, & Per ton.
Friesland 36 - 38 Lins. c., Hull 01 Os Od to 71108
Russian and Odessa 32 - 36 Do. fine for. -71 5s Od to 01 Os
Oats, English ....... 17 - 19 Do. inf. foreign... 01 to 6110!,
Do. Danish ,1- 18 Rapeseed 23110 s to 00/
1185 2180
,Rraarpees,ca.kes...B7s 6d to 003 o,i
English oos -
95s 303
DDoo..Fßruiesssl.a&ndo...d.e..s.s.a.
4/ 71 to9l Os
oOe
Do. grinding9oBod to 003
Barley,malting ...... -00 Do. foreign
30 - 32,80ne5, do
Beans
2300 - 21 Guano
Do., foreign ......... 28 - 301
CORK, AR It
Te G• le6a .1

taut and unanimously-condemned character, proposed by
Captain hloorsom, a resolution was carried declaring a
dividend at the rate of 3,} per cent. per annum, payable
en and after the Ist September.
A conversation having again arisen respecting Mr.
Stovin and the system pursued by the company as to
sureties for their officers,
Mr. SAINSBURY asked whether the solicitors of the
company were of opinion that the surety provided by
the Guarantee Society was preferable to individual
sureties? (Mr. Sainsbury referred to a case in which
the Guarantee Society had attempted to evade payment,
and had been defeated by the verdict of ajury.)
The CHAIRMAN observed that they had been exceed-
inbftp ohurgres el
fromfi Ysne
hiserepleasedttrs
es
d. settlements
Iheut ntercs
otewsstiiimiewlnshepicl. rt_luhytehlrifesinto:orGseoamannuraado.asr)fftathnbteeotAor they
ntet htdhhtSeatheaodeckBeeanatpartiesestablishment rigid, and the company had never had any diffieulty in
Tile SOLICITOR said the matter had been brought be-
esy wt several.ma thewye
eco femoed
fmpo
wai
the
gyets
Guarantee Society. He must confess that he very much
not prepared to say that the guarantee policy was tue-
safe. Of course, as he had drawn up the old form
of the bend, he was rather prejudiced in its favour,
and there were certainly a good many provisos in the
policy. But the policy could hardly be said to be so in-
secure that he ought to advise the company to refuse it.
—(Heat., hear.) One objection to the old bonds was,
that they required the assistance of a lawyer, which en-
tailed upon the clerks an expense which they could ill
afford, and from which the policy was free. It was a
desire on the part of the board to avoid the necessity of
professional advice, that the society's guarantee was
adopted in preference to others.—(Hear, hear.)
The resolution declaring the dividend was then
agreed to.
Mr. TITE then proposed, and Mr. BAKER seconded,
that Mr. Sergeant Gaselee be elected a director. Carried
almost unanimously.
A PROPRIETOR proposed Mr. Hutchins, but that gen-
tleman withdrew from the contest. As Chore were only
two vacancies to be declared, he did not wish to contest
either with the Learned Sergeant or with Mr. Mortimer,
who had polled such a large number on the last occcsioa.
Mr. BAKER and Mr. HERAPATH proposed and se-
conded Mr. Charles Smith Mortimer, whose election in
like manner was carried all but unanimously.
A PROPRIETOR asked whether Mr. Mortimer would
work harmoniously with the other directors with re-
spect to the Central Railway ?—(Laughter.)
Another PROPRIETOR observed that on the last occa-
sion Mr. Mortimer had given a sort of promise that if
elected he would withdraw from the Stock Exchange.
Would he now fulfil his promise?—(Hear, hear.)
Mr. BAKER, in the absence of Mr. Mortimer, would
explain the matter. A man might be a barrister and
yet withdraw from practice, and so in like manner a man
might retire from the purchase and sale of shares, and
yet continue to be a member of the Stock Exchange.
Mr. Mortimer justly considered his membership a high
honour, and from that he would not retire, but ho would
give up all business in shares.—(Hear.)
Sir RAYMOND JARVIS, who was on the list of candi-
dates, retired.
Mr. HELPS thought the proprietors were bound, if
they did not wish to be disfranchised, to deal with the
third seat; but as he was in favour of a reduction in the
number of directors, he could not consistently offer him.
self as a candidate. If, however, the shareholders, in
order to assert their rights, chose to elect a third direc-
tor, he was perfectly willing to serve them, and, if
elected, he would serve them faithfully, and, if he pos-
sibly could, well.—(Hear, hear.) It was not his inten-
tion to oppose either Mr. Sergeant Gaselee or Mr.
Mortimer.—(Hear, hear.)
The CHAIRMAN—Then it is my duty to declare those
gentlemen duly elected.—(Cheers.)
Mr. Sergeant GASELEE, in returningjt.Hwehohtoh‘pv:andsks for the
honour which had been done him, alluded to the abuse,
he meant to say the opposition—(A laugh)—he had re-
ceived from Mr. Tito, and from a certain periodical
which had attacked him week after week whentnhoehtelqawutticaters
Mr. TITE expressed the high opinion he entertained
for Mr. Sergeant Gaselee, although he had often been
aswoborsuotl aaddi
en,
_oa and
w(dtt casokuuegl
opposed to him. Ho was quite sure that the Learned
Sergeant, now that he was on the other side of the table,
would think the same the board.—(Laughter.)
Mr. HELPS insinuated that the board were keeping
the third seat for some person they had in view-. .
The CHAIRMAN said they,were only keeping it for tn?
shareholders. They had not at present the eligi!ttt
idea of a candidate, end Mr. Helps' opinion of theta
was not a very liberal one.—(Hear, hear.)
Sergeant
The meeting was made special, and Mr_isoci, took
stale.—(Laughter.)
sometne:
other know
subject o f
Gaselee, in obedience to a call which was %no. Mr.
his seat at the table amidst considerable VT a
iirass
Helps demanded a cheer for " the responded to
member that ever sat there," but it ri
with criesOh," and
formsoe especial meeting was
[The report prepared the
taken as read.] meeting would give the
he meeti
The CHAIRMAN thought t
one thing, and that was
directors full credit for at le"ttheir promise, not to do
for having faithfully held tootly
with respect to now works
anything directly or in b reholders'

Barrels. Curreney.
O White wheat ON Od to 00s Od 00s Od-20 stew
0 Red wheat oos Od to ON Od
0 Ditto OO3 13.1 to 00s Od r 00s Od-20 do
O Ditto OOs Od to OOs Od
0 Barley Os Od to 00s Od
0 Ditto oos od to ON Od ON Od--00 do
0 Ditto OOs Od to 00s Od
94 Bere... ..... 9s 8d to 10s 0.1 Os Od
286 Oats Bs 8d to Os 8d
124 Ditto ....
O Ditto
O Pigs. OA Od to OOs Od 00s Od per cwt
Quantity sold at the Highest Prices:—
0 barrels white wheat; 0 red ; 0 barley; 58 bare;
5 oats;
0 pigs.
Quantity of Grain and Number of Pigs sold last week t-e.
Wheat, 1. Barley, 0. Oats, 1,463. Pigs, 0.
PRICES OF BUTTER.
CANT. cuRRANCT.
First quality
Second quality
000000000
61s
Third quality .. 66s Third quality 57.
Fourth quality
Fifth quality
Sixth quality ...... .... ..... 43s Sixth quality
Return of Cattle sold for week ending Aug 7.
Pigs, 630. Sheep, 232. Cows, sii.
CORE.—Flour. -first 12$ 61 to 13s Od; extra 141 Od;
seconds, 103 6d to 123; households 9s to 100 6d ; thirds, 7s to 91
per cwt. Oatmeal 103 to 10s6i1; Indianmeal 7e 3d to 7s 6d; wheat-
meal, 9s 6d to 108 per ewt. Indian corn 710 s to 7123 6d per ton.
Bran 72s tid to 75s per ton. Hay—Farmers 14s Od to 255; average
ON ; dealers ON Od to 006; average 0)a per ton. Straw—Farmers
Ile Od to 16s Od; average 00$;
ddealersoots
loaf tNI to 003 od ;
average ON Od per ton. Brea
household loaf 5d to Od per 41b.
Fresh butter, od tx
phundOreO C4Codals—to
10d per lb.
Newport 14s Od ; Lydney a ;Landore e $ ulrn,
12s 6d per ton. 'fallow 393 .Od to 408 per ewt
Eggs-4a Od to 4s 21
Whisky, 25 o. p., 5a 9d per maporia.l. gllon: blest.
Ids;d per lb, H
d;—Reefporic4l.44d
to
otood 7; ds;acomou6t:tletzto
7d5(;1 to 6
lausageesd to 3/ Os oP'
818 s to 9/ Os per cwt. Bangor slates 2/178 3
}Usk, red 71to 81103 per ton. Fleece wool 16s to Dias per stone.
dtetmo:293l/1t0535 4plepretrotno;n.
deals,Fish— 151Seotch herrings 18: to. Ic9als;
skin:
4tto, 24s to ON per barrel ; Newfoundland, 101 Os to 11/ pal
3/ 5 s ;,,
iy. 6,
el 1:1
ton. Timber—Memel, 7N per ton; red pine,
to 18/ per 100. tim
Market 2N to 28s• salted 21s to 3N per ow $
3d to Od
10d to 12d.
Archangel 1
, WII
~., Guano—Peruvian, 10/ IN to 11/ p , tuu
per lb. Potatoes, white 7d
,t00.9d_;.. pTiarnt
per barrel.

SirJobn Pakington arrived in town yesterday'
his seat, Westwood-park.

/tres/
•
.:„44 • N
• • . •
.S 4
:pp e
dr '44
,-. • Ap• 4
*, ")1 ,zt„,
tl'
1,•!-
- 0
•
) /"N4/
1 -14//. -.4'4- • 1.\.0 pa. DR T
pis 4{ l~ DIE- ki• 1! •1110•4'•; • .0 •-•-••

[PRICE SD.

without having their concurrence. The question for
their consideration on the present occasion was, the ex-
pediency of making a new line from Basingstoke through
Salisbury to Exeter; and when they were t id that in
the district from Salisbury to Exeter, which was 89
miles long, and in some
was no direct railway places more than 53 wide, there
communication with London, they
watt's readily imagine the anxiety which was felt by the
inhabitants as to the fate of the proposition. The popu-
lation was daily decreasing, and the agriculturists were
suffering greatly for the want of such a communication,
so that they might well suppose that both the landed
proprietors and those engaged in trade and commerce
took the liveliest interest in the scheme. The company
had determined on a former occasion to adopt this very
line, which they all knew was legitimately their own. It
was legitimately their own district, inasmuch as they
had obtained an Act of Parliament to make the rail-
way; but from adverse circumstances it had been post-
poned. In the'firat place they had to contend with the
absence of money, and a panic in the commercial world.
They had seen the first houses falling, and the most re-
speitable-merchants ruined. They had also had a famine
in the eountry, plague and pestilence at home, and revo-
lution abroad—all of which had tended to render the
completidri of the plan they had contemplated impos-
sible. The value of the scheme was proved by the steps
which had been taken by their competitors. who had a
line already from London to Bristol and Exeter, and
who had positively given their board power to take the
preliminary steps to make a railway from Dorchester
to Exeter. When they reflected that the line they pro-
posed was 197 miles long, whereas the plan of this
company was only 171, they would no longer doubt
that the preference ought to be given to the central line.
—(Hear, hear.) Again, if they even took the coast line,
there would be no security for their traffic' because no
man would leave the centre of the country to go to the
coast, becaeupsee.ahewould have 30 miles to travel to get to
p
it. The
line,
would therefore pass over to the
Great Western' and go north; so that, by that plan,
they would only have a large sum of money
and their property no expended,
securer. But it did not stop
here. If they would-. consent
not only lose that which they to be passive, they would
might fairly expect to ob-
tain, but also that which they al ready had. And this
was the most powerful argument that they could use.—
(Hear, hear.) The proposed rtaielway, which would only
cost 1,100,0001, was precisely h
to have cost 2,250,000/.—(Hear, haeaalna) pOlabrijewchtiionnh was
been made to the Mitcham line, on the ground that the
money was proposed to be spent through the agency of
the engineer. But there was a certainty about the con-
tract system which would reduce their liability to a
given amount. If they were to have the
line formed for
1,100,0001., and if the South-Western werehe to work it
for 50 per cent., they would know what they were likelye
to have to divide amongst the shareholders.
hear.) Another great advantage which the (H ard
scheme would confer on them would be the traffic which
it would bring upon their line to London. If the Dor-
chester line, which was 63 miles long, and produced
53,270/, a year, gave the main line 35,3251, the central
railway, producing 90,000/, a week, would give them
63,0001.—(Hear, hear.) In conclusion, he thought that
they could not have more favourable terms offered them,
and ho trusted that they would encourage the directors
to make the line.—(Hear, hear.)
An Hon. PROPRIETOR would venture to suggest an
arrangement that might be less objectionable than that
contemplated by the directors; that the company should
make the line themselves, with their own money, and
that the landowners who were calling for it should gua-
rantee them a minimum interest of 3i per cent. on the
outlay.—(Great laughter.)
Mr. DICKENSON was surprised that this matter shoals
have been brought on at all at this meetinse seeing thet
it had been so fully discussed on the last occasion. He
had the same amount of property exactly in the Great
Western which he had in the South-Western; and as his
interests were equally balanced, his opinion against this
proposed extension might he regarded as tolerably im-
partial. The Chairman had spoken as if the South-
Western was acting on the defensive in such an exten-
sion, but he (Mr. Dickenson) knew as a fact that the
Great Western had no desire whatever to engage in any
fresh line to reach Exeter.—(Hear, bear.) The question
for the proprietors in the South-Western was a very
simple one: Were they prepared to go into the forma-
tion of a new line upwards of 103 miles in length?—for
it was not merely from Salisbury to Exeter, but, in
fact, from Andover to Exeter.—(Hear, hear.) It was
great folly in the directors to rely upon a body
of landowners. No doubt they wanted the line, but
they wanted to make money by it; and from
what he (Mr. Dickensou) knew of country gentlemen,
he was sure that the lords and squires in this case would
get the uttermost farthing they could for their land.—
(Hear.) If those lords and gentlemen were in earnest,
they could go into the money market and get all: the
necessary money they wanted on their own responsi-
bility. But it was a very different thing to get the
South-Western into the speculation, pledged, too, to
work the line, and ttiehlaand to those individuals the first
profits, if profits there should be, of which ho entertained
great doubts, for, of course, if thus challenged, the Great
Western would at once tal:o up an opposition.—(Hear,
hear.) Let the line be made by an independent com-
pany, and he would have no objection; and then let the
two companies (Great Western and South-Western)
take their chance. What was the South-Western to do?
It would have to carry on the competition by lowering
the rate of fares from Exeter to London, and that would
lead to a reduction for all passengers on from Salisbury
and intermediately from Andover, for it would not do to
have different rates.—(Hear, hear.) As he saw the
thing, this company was to be at all the risk, and was
not to have the first benefit.—(Hear, hear.) He regarded
the calculation of the directors that the work could be
done for 1,100,000/, as a chimera; for there never was a
railway contract yet which had not been exceeded.—
(Hear, hear.) Ho would oppose the project to the last,
and even to Parliament.
The CHAIRMAN reminded Mr. Dickenson that the
contractors were of undoubted responsibility and repu-
tation; and there would be, therefore, this enormous
advantage about the undertaking—that the company
would know exactly its liabilities.
MT. EAGLESFIELD ( of this of Bristol) had no shares in the
Great Western, but he utterly disapproved
were to raise the
ex-
tension. He did not see how they
capital. The landowners were to be the
class A;
ld and if
there was to be a class B the South-Westrn wou have
to give a second set of guarantees, or they wou
whileld,the
of
course, never get rid of the shares. Again,
line was being made, interest would have to be paid on
the capital borrowed; and that interest would be so
much deducted from the dividend of the proprietary of
He wanted the
the South-Western.—(Hear, hear.)
South-Western to stick to what they had got, and to
make the most of that. The property had been damaged
greatly by these proposals of the directors.-:-(Hearto .)
the
The CHAIRMAN put the hon. proprietor right as
payment of interest. Half the capital would
the district; and there could be no interest payable &t-
-rine the construction of the line.—(Hear, hear.)
Mr. UPCROFT prophesied that this extension would
hear.)
lead to a new battle of the getigelh—aleart
Captain MOORSOM delivered a long lecture, which he
demonstrated secundum arkm upon a map pinned up to
the window-blind, upon the coast scheme which he
brought forward last year. He concluded by proposing
a resolution to the effect that the directors be requested
to make arrangement with the promoters of thec
atast
line, by which, under certain restrictions, they might,
an outlay not exceeding 200,0001., secure a continuous
line from Dorchester to Exeter.
A confused discussion taking place here, several pro.
prietors asked, " What is the question?" and it was un-
expectedly found that no question had been put from the
board, and that consequently Captain Moorsom's propo-
sition was to be regarded strictly as a substantive motion.
Mr. HARDING, the secretary, was cal led on by the
Chairman to read the resolutions prepared by the direc-
tors. They were as follows:
" That the directors be authorised and requested to con-
clude an arrangement with the promoters of the Central
Line of Railway Extension from Salisbury to Exeter,
upon the basis of the terms mentioned in the report this
day submitted to the special
proprietors, and to take, andgeneral meeting of the
to concur with any otherei
en.
parties in taking, all suchmeasures as in their judgment
may bo necessary for bringing the central line before
Parliament in the ensuing session."
" That the directors be also authorised to concur with
any other parties in promoting the formation of n,TIL`,:
from Bridport to join the proposed central line nefhnny
minster, to the extent of a subscription by this oc'uti—
not exceeding 50000/." day of Sep-
" That a meeting be summoned for those of receiving
tember next, at one o'clock, for the etterePtors
and considering a report from the dirspita.
i to be con-
on the ar-
rangements for raising the necessary les
th before-mentioned
tributed by this company towaredech
iitops in relation
lines, and for authorising tqe west generally, as may
thereto, or to extensions ill the
be considered most advisabl
. then formally put, and dis-
The first resolution
arhh-
cussion was taken orhtbf7n angry attack on the policy
Mr. EDWARDS o',!tacro, and concluded by suggesting
pursued by the dirre;ova should modify his proposal into
that Captain
the
t:ppointment of a committee of 24 to in-
a motion for 'whole subject of the western extension.
vestigsf teintirreonsoer could not adopt that suggestion. A
had already sat, and had reported in favour
committee sion; and he thought they couldn't go on
of the 't"vietl committees while an enemy was at their
for ever
'll
very doors.
gr. NADLEY also spoke against the proposed line as
objectionable in every particular.
Mr, HERAPITH Spnko to the same effect. He could
find no reliable data for the statements of the report. If
they went into this mad scheme they could only expect
to involve themselves in interminable hostilities with the
Great Western and the Bristol andEsxiteiotea in regardr.—(ilear.
Mr. LOCKE stood in a peculiar position
to
the South-Western Company on this question, and he
desired to offer a few explanations. There
w
doubt that the landowners in the district would be as
no
bene-
fited by and had an interest in the contemplated exten-
sion, and he confessed candidly for his own pa rt
inthat , posses-
sing as he did landed property direction, that
lihe looked mainly to his own interest in this' mat-
ter.—(Great laughter.) Having made this admis-
sion, he hoped he Would for the future
- escape those accusations as to motives which were too