The Sun.
London, England, 1864-12-31 00:00:00

ME SUN, LONDON, SATURDAY EVENING, DECEMBER 31, 1864.

Events of the Year.

Subjoined is a summary of the principal financial
and commercial events of the year now closed:—

JANUAItY.

Bth—News of termination of frontier war in India and
also of pacific prospects at Japan from submission of
Prince Satsuma.

12th—Danish loan for £1,200,000 5 per Cent. Stock at
93, with instalments extending to June 20, introduced
by Messrs Hambro.
13th—Bank of France bullion reduced to a little over
£6,000,000.

- .
14th—Rally in Confederate Loan from 39 to 0, fol-
lowed in a few days by a relapse to 43.
20th—Bank bullion, £12,974,109. Lowest point touched
for 2 years. _ _

21st—Bank discount raised to 8 per cent.
Stock markets extremely heavy from imminence of war
between Germany and Denmark.

FEB LtU ARY.

Ist—Commencement of war on Denmark by Austria and
Prussa. Prussian troops repulsed in attack on M:ssunde,
Consols, 89/,

4th—Opening of Parliament.

11th—Bank discount reduced to 7 per cent.
25th—Bank discount reduced to 6 per cent.

Throughout the whole of this month the stock markets
were in a dull and uncertain state from the shifting diplo-
matic movements in connection with the Dano• German war.
There were also heavy fluctuations in Mexican stock pre-
ceding the arrival of the Archduke Maximilian in Paris,
The Confederate Loan also ranged between 57 and 48 from
speculative operations.

Launch of an Iron-Clad on the Tyne for
Turkey.

(From the North British Daily Mail of yesterday.)
The high estimation in which the shipbuilders
of the Clyde are held by foreign. Governments is

:he launch of a war ram for Turkey, from the yard

of the Messrs. Napier and Sons at Govan. Recently
we were called upon to record the launch of the
Osman Ghazy for the same Power.
As in a river like the Clyde, depth of water is of
essential consequence when a vessel of the huge
proportions of a war ram Is to be allowed to slip
into the stream, the period when the tide was at its

highest had to be carefully studied; and it was ac-
cordingly arranged that the launch should take place
shortly after half-past one o'clock in the afternoon.
About this time the large bell which is used for the
assembling of the workmen in the morning

and at the hours hours of diet sent forth its peal, and im-
mediately hundreds of them, as if by magic,
dropped their implements of labour and hurried to
the nearest place whence they could obtain a view

of the launch. A favourite spot with them appeared

o be the deck of the other ram which is in course

of construction for Turkey, the Messrs. Napier
having received orders for three. This ship was

only a short distance from the one which was to

be launched, and but a few minutes before the

ringing of the bell the heavy strokes of the
hammer were heard resounding in all parts of it,
as some bolt or rivet was firmly secured in the
sides of the capacious vessel, or in the multitudi-
nous iron beams or girders which spanned it in all

directions. In a moment, however, all was
still ; and batch after batch of workmen were
seen emerging from the hatchways, and taking
their places on desk along with those who

repaired thither from all parts of the yard, until the
aides were completely lined by a dense crowd of
deeply interested spectators. In accordance with
the usage followed o❑ these occasions invitations

had been sent to a number of our principal citizens
and others, and for their accommodation an elevated
platform, covered with crimson cloth, was erected
immediately in front of the vessel's bow. This

post of honour was duly taken advantage of, and
among those present we observed the Lord Provost
of Glasgow ; the young Marquis of Lorn and his
two younger brothers; M. Stephen Tlusurus
Bay, eldest son of the Turkish Ambassador;

Provost Pollok, of Govan i Bailies Gilkinson and

Taylor, of Glasgow ; Baillie Cruickshank, of
Govan; Councillor Dreghorn, of Glasgow; Mr.
Henry Dunlop, of Craigton ; and the Rev. Dr.
Taylor, with a goodly number of ladies, including,
of course, Miss Rigby, to whom was assigned the
duty of naming the vessel.
The usual precaution had been adopted of re.
moving the embankment at the place where the
launch was to take place, and also of deepening the

river to the extent of five feet by means of dredgers.
As a further precaution, the armour-plates which
had been fitted on to the sides of the frigate in a
line with the main-deck had been removed, and
everything was, in short, done to render the launch
successful.
A few minutes after half•past one o'clock all was
animation around the sides of the leviathan. Its
deck had been cleared of everything save the
huge cranes which are still necessary, as much
still remains to be done, the large boilers, fur-
maces, and engines having still to be fitted up.
Under its counter and sides the props had, however,
to be removed, and bands of men were now busily
at work upon these. Block after blook of these
strongly wedged together frames disappeared under

the strokes of the hammer, until at length all that
was left were the two dog•shores at the bow, .4 hich
kept the vess€l, in its place as if with the grasp of a
vice. A few minutes more, and the signal for the
removal of these was given ; but whe❑ all was clear

the vessel still retained its place on the ways as
reluctant to move. No sooner, however, did she
loosen her hold than she swept onwards with resist-
less momentum, taking the water in gallant
style, and making but little strain upon the four
anchors fixed in the river for the purpose of
steadying her and bringing her to. When
in motion, Miss Rigby, a grand-daughter of Mr
Robert Napier, of Shandon, dashed the bottle of
wine at the bows, and bestowed on-her the name
of Abdul Aziz. The launch was as successful
as that of her predecessor in September last,
than which nothing could be finer. Her vast
dimensions displaced, of course, an immense body
of water, the effects of which were seen in the suc-
cession of waves which swept over the river's em-
bankments for some distance. There was a dense
crowd of spectators on both sides of the Clyde, bu t
especially on that immediately opposite. She was
towed up the river in the course of the afternoon to
the south side, opposite Lancefield Quay, where she
will receive her engines and other parts of her
machinery and equipments.
Immediately after the launch, the ladies and gen-
tlemen who hadoeceived invitations to be present
adjourned to the pattern-room, where an excellent
collation was served. Mr R. Napier, of Shandon,
presided. Among the toasts proposed was " Suc-
cess to the Abdul Aziz." In proposing it, Mr
Napier stated that so happened that the ship
was named after the Sultan of Turkey, to whom
he wished long life, and said he hoped he might
send many orders for vessels to this country,
a sentiment which was received with cheers.
With this toast was coupled the name of Mr
Stephen Musurus, the young representative of the
Sultan. The Lord Provost, after returning thanks
for his own health and that of the magistrates of
Glasgow and of Govan, proposed " Prosperity to
the firm of R. Napier and sons." His lordship said
that it was exceedingly gratifying to be present at
the launches of those noble vessels which the
Messrs Napier sent forth, and referred to the able
services which the head of that firm, Mr Napier,
had rendered to marine engineering and to ship-
building in connection with the Clyde, stating that
he and his firm continued to maintain an honour-
able position in a department which had made the
city of Glasgow so celebrated. Mr Napier, in
acknowledging this toast, good.humouredly re-
marked that he would much rather make
three ships of war than attempt to make one speech.
The health of the young lady who christened the
ship was also proposed, as was also that of the
manager, foreman, and workmen, without whom,
said Mr. Napier, these vessels could never be built,
adding that his firm had a highly respectable set
of men. None of the toasts was pronounced with
greater heartiness than this one, Showing that Mr.
Napier is fully alive to the worth of the men in
his employment.
Besides the other war vessel which the Messrs.
Napier are constructing for the Turkish Govern-
ment, they have a merchant screw steamer on the
stocks, and are about to lay down the keel of
another. We also understand that they have re-
ceived orders to construct two large screw steamers
for the French Transatlantic Company, to run
between Havre and New York. Speed as well as
strength will be carefully attended to, and it is not
improbable that they will be made so as to outstrip
even the fastest of the celebrated Cunard line.
The first piece of the Abdul Aziz, whose success•
ful launch we have chronicled above, was laid on
the blocks on the 15th of April, 1863. The con-
struction of the bulkheads and floors was com-
menced ten days later, and in a month afterwards
there were fully 250 tons of iron work in her. She
was not expected to be ready for launching till next
month, but her enterprising builders have antici-
pated this period by a week or two.

THE CAPE OF GOOD HOPE.—Tho screw steam
ship Norman, Captain Colwell, from the Cape of
Good Hope, arrived at Southampton yesterday. She brings
seven passengers and a large cargo of colonial produce.
The Norman is an extra steamer, chartered by the Union
Steam Shipping Company from Messrs George Lungley
and Co. Her news has been antiolpated by the regular
mail steamer Saxon.
THEATRICALS AT ALDERSHOT.—The members of
the Officers' Dramatic Corps gave another perform-
ance in the Theatre Royal Club House on Wednesday
evening, when three humorous pieces, " Grimshaw, Bag-
shaw, and Bradshaw," "Cool as a Cucumber," and "A
Thumping Legacy," were performed. There was a large
attendance, and among those present were Major General
Brook Taylor, Major General Hodge, C B , Lieut. Colonel
Bayly, Captain Akers, Acting Commanding Royal Engi-
neers, Captain Birch, J,P„ Captain rands, J.P., &o,

Metropolitan Board of Works,

The weekly /reefing of the Metropolitan Board of Works
was held yesterday at.the offices, Spring-gardens ; Mr John

Thwaites, chairman, presiding.

FINANCE.
The cash statement of the Finance Committee presented
the following balances in the hands of the treasurer :
Current accounts, £101,454 145.; deposits accounts,
£3lo,Boo,—total, £412,254 14s; and ,Government securi
ties, New Three per Cent. Annuities.
THE EXPENSES OF THE BOARD FOR 1865.
At the assemblage of the Board the discussion on the
estimates prepared by the Finance Committee for the ex-
penses of the Board for the ensuing year was resumed.
Mr DALTON, the chairman of the Finance Committee,
in a short speech moved the adoption of the first vote, viz,,
sewerage and drainage, and which contained the following
items :—Sums required for works, £33,550 ; working ex-
penses of pumping stations at Deptford, Crossness, &c.
£9,000; rent and taxes for St. George's-wharf, and other
premises occupied by the Board, £250, making a total of

£43,800.
Mr JOHN S. PHILLIPS seconded the motion.
Mr Silas fAYLOR said there was at the present time in
hand an approximate surplus of £14,000, and there was a
further sum which had been set apart to meet any liabilities
the Board might have to meet with regard to the Metro-
politan Railway, which would make up a total balance in
their favour of £60,000. Now, if there was a sum of £60,000
surplu, on the estimates of 1864, he saw no reason why the
ratepayers who had contributed fully all that was required
of them should not have the benefit of it in the coming year.
There was no doubt that they roust have a sum in hand for
working expenses, but he thought that £36,000 would meet
all their requirements, and therefore he should move that
this vote be reduced by £30,000, and, therefore, instead of
requiring a rate of 20 in the pound, should his amend-
ment be adopted a rate of 14d would be found amply suffi-
cient for all purposes.
Mr LONG seconded the motion.

The CHAIRMAN said it should be borne in mind that the
board would have to incur a half-year's expenditure before
they would receive one shilling under the present estimates,
and therefore £61,000 would not be more than sufficient to
carry on the duties of the board until June next, and meet
all the liabilities they w. uld rave to incur.
Mr LEGG supported Mr Taylor's amendment, and he said
if it was lost he should move a further amendment.
Mr PECLLTT did not think that £60,000 was toe large a
sum to be retained in hand for working expenses.

Mr NEWTON said that this subject had been very fully
gone into and discussed in the Finance Committee, and the
whole £OO,OOO would be required to meet their six months'
expenses.
Mr DALTON replied, and said as regarded the Metropoli-
tan Railway money, when it should come to hand, the rate-
payers would have the full value of it, but in the meantime
he advised them not to reckon their chickens before they
were hatched. (Laughter.)
The amendment was put, and lost by a large majority.
Mr LEGG moved a further amendment, that the amount
be reduced £14,000.
The amendment was seconded by an hon. member. This

led to a long discussion,but eventually the question was put
the amendment lost, and the original motion carried by a
majority of 19 to 12.
Mr DALTON moved the next vote of £lO,OOO as the contri-
bution by the board to public improvements. He consi-
dered the sum would be ample, as of the £15,000 voted last
year only £7,500 of that sum had been absorbed.
Mr CAB.PMAEL said he must take exception to this vote,
on account of its inadequate amount to carry out public
improvements. He found that in Paris a population
of 1,700,000 was taxed to the extent annually of £3 per
head for municipal purposes, and was he to be told that in
this metropolis with a population of 3,000,000, they could
not raise a rate of lOs a head for municipal purposes? Now,
he could not for one moment imagine that in so wealthy a
place as the metropolis it was at present so overtaxed that it
could not bear another burden for the purpose of effecting
improvements. He believed that it was the duty of the
Board to contribute liberally towards public improvements,
and should move as an amendment that the Board do con-
tribute the sum of £25,000 towards public improvements,

instead of £lO,OO.
Major LYON seconded the amendment, and adverted to a
remark made by the Hon. W. F. Cowper when a depuation
of the Board waited upon him—that if the Board was un-
able to carry out public improvements the sooner it was
broken up the better.
Mr NEWTON said the estimate proposed by the committee
would not bind the Board to that expenditure, but as £7,500
had last year been found sufficient, the committee consi-
dered they were quite justified in recommending this year
the sum of £lO,OOO for public improvements. But he hoped
Mr Carpmael would not be under the impression that
£lO,OOO was all that the Board would be called on to contri-
bute to public improvements. They had bound themselves
for some time to an expenditure of £200,000 for improve-
ments in Whitechapel and Holborn, and they would also
have to pay something towards the improvement and widen-
ing of Hamilton-place. As to the example of Paris, where
Mr Carpmael had said that £3 was raised from each person
for municipal purposes, if they were called upon to imitate
France in this respect- he feared that they would soon ae
compelled to imitate it in some of its revolutions.
Mr H. L. TAYLOR condemned the niggardly spirit in
which paltry and miserable sums were contributed by this
board towards public improvements, instead of dealing them
out with a free and liberel hand throughout the length
and breadth of the motropslis. He saw no reason why
they should have their hands tied down to the sum of
£lO,OOO, and he felt that the portion of the metropolis he
represented had been most unfairly dealt with, where im-
provements were so urgently required, It was of import-
ance that the Board should be measured by its good deeds
and the services they had rendered to the people. The sum
proposed by the committee was so niggardly that he hoped
the board would not agree to their recommendation.
Mr HEALY hoped the board would adopt the smaller sum.
After some farther discussion the amendment was put
and negatived.
Mr H. L. TAYLOR then moved a further amendment,
"That the Board contribute £25,000," urging that there were
a number of claims befcre the board, and among them one
for between £6,C00 and £7,000 for the improvement of
New gate• street, which the Board ought to effect entirely at
their own expense.
Mr CARPMAEL seconded the amendment.
Mr J. S. PHILLIPS denied that the Board was niggardly
in its contributions, and said that term would really apply
to the Court of Sewers of the City in coming to them for
small contributions instead of doing the work at their own

expense.
The question was put, when there appeared for the amend-
ment, 19; against it, 18. The Chairman did not vote, so
this was not a Inajorily of the members present, and there-

Lore no order.
The original motion was afterwards put and carried ; also
he other items of the report of the committee.

The Hardware Trades and the Factory Act.

(From the Birmingham Post.)
The Children's Employment Commission have comp to
'he conclusion that the whole of the hardware districts—

Birmingham, Staffordshire, Worcestershire, Shropshire,
the North of England, and South Wales—ought to be
placed under the Factory Acts, so far as the employe
ment of women and children is concerned. This recom-
mendation of the Commissioners applies to every branch
of the metal trade, as carried on in the midland
district—from the heaviest iron work of South Staffordshire
down to the lightest and least laborious of the fancy trades
of Birmingham. The following classification, extracted from
the report itself, shows how completely it is proposed to
apply the Factory Act. 1. Cut nail manufacturers, washers,
and shoe tips. 2. Screw and bolt manufactories. 3. Brass
foundry, including wire, gas fittings, and lackering. 4.
Button, pin, and hook and eye making. 5. Guns. 6. Jewel_
lery. 7. Iron foundries, engine, machine, chain, edge
tool, and tube works, bedstead, hurdle, and safe manufac-
tories, and miscellaneous iron work. 8. Tin plate, papier-
mache, japan, and blank tray works, 9. Steel pens. 10.
Electro-plating. IL Locksmiths, stampers and piercers,
bit and spur makers, harness furniture makers of all
classes ; awl-blade, steel-toy, hinge, latch, bolt and file
makers; bellows makers, &e. 12. Galvanising works. 13.
Tin toy factories. 14. Blast furnaces. 15. Rolling mills and
iron forges. 16. Miscellaneous metal trades not enumerated
above. Some of the evidence will not a little startle even
those persons who think themselves tolerably well ac-
quainted with the condition of the district. It is shown, for
example, that throughout the midland hardware district
nearly 60,000 women and young persons under 18 find
occupation in the various staple trades; that of this number
a large proportion are grossly ignorant ; that they are fre-
quently severely over-worked; that their places of work aro
so close, limited and ill-ventilated as to be dangerous to
health; and that owing partly to these cireumstances and
partly to nature of the trades, consumption and other dis-
eases of the lungs are far more prevalent in Birmingham
and the district than in other parts of England. As to Bir-
mingham, indeed, Dr• Greenhow, a medical inspector em-
ployed by the Privy Council, declares that "it presents ex-
amples of nearly ail the eviler which have been found to
exist separately in each of the other manufacturing districts
where inquiry relative to the causation of pulmonary
diseases has been made." And the same authority alleges
—no doubt with the most complete accuracy—that out of
35 workshops inspected, in 26 the persons employed had
less breathing places allotted to them than is requisite even
for a sleeping room. 500 cubic feet of air is necessary to
health in a living-room ; yet hundreds of people, chiefly
women and children, wore found working in rooms which
contained only from 120 to 200 cubic feet of air for each per-
son. Well may Dr Greenhow say that it is difficult to trace
the career of these poor creatures, because they cease to work,
and so fall out of sight I Mr White supports this testimony
by declaring that even in the best and most important manu-
factories in Birmingham very little attention is paid to suffi-
cient space, cleanliness, and ventilation. And, as to the mental
condition of many of the working children, Mr White cites
instances by the score—we might even say by the hundred
—of boys and girls of 14 or 15 who can neither read nor
write, and to whom " God, the _Bible, the Saviour, or a
future state, are ideas entirely or all but unknown."