The Sun.
London, England, 1853-09-27 00:00:00

ONDON and NORTH_ wES¶I E R N and to terrify legitimate holders, was exceedingly
RAILWAY. natural, and might have been anticipated without
TENDERS FOR SLEEPERS.
parry The Directors of the Loudon and North-Wcste rn Rttnlvtly,
end any extraordinary degree of foresight, or pretended
are prepared to receive TENDERS for TWO /IU.,DI.ED and
tioirs said forms of powers of vaticination. But that bona fide capi-
tenderFlFTY THOUSAND SLEEPERS. Spec if Ica
may be had on application to the undersigned. The tenders
must be sent in on or Letore 12th October next. talists, stout country gentlemen, sturdy yeomen,
_
By order, CHARLES E. STEWART, Secretary,and comfortable retired tradesmen, who- only
Secretary's Office, Euston Station, London, Sept. 26, /.8.)3.
looked to the security of the dividends, and would
not think of disturbing their investment even for
the purpose of realising a considerable premium,
should participate in the panic, and lend their
, aid to enhance the difficulties of the emergency,
has, we confess, both pained and astonished us.
But, then, they were frantic with terror, and
pressing their stock upon the market for unre-
served sale. The energetic efforts of stronger-
minded and more patriotic individuals to support
prices and prevent the accounts so humiliating to
the national character from being borne to the
AUTOCRAT, the terror of whose name had pro-
duced such calamitous results, were thus
neutralised. The partial improvement that had
been effected for a short time was com-
pletely set aside, and Consols closed
at 91,-;
a deterioration of more than nine per cent, within
four months, while Shares were again lower, the
London and North Western being below par, and
other less favourite lines at heavy discounts ! !
To understand the full extent of this general
deterioration of property of every description—a
deterioration unparalleled within any similar time
—we shall simply refer to the quotations of some of
the leading Stocks, and Shares, and Securities on
a day taken at random from our files in the month
of April, and compare them with present prices.
The 3 per Cent. Consols were, on the Bth of
April, 10n. 1. On the 26th of September they
were 947 it, a fall of 9
per cent, in the capital
value ; and yet, on the former period there was a
great probability of a reduction of interest from
3to2ior 21 per cent. East India Stock was then
261. It is now 240. East India Bonds were
48 premium. They are now 10s. discount to par.
London and North-Western Railway Stock was
then 121 to 121 k. It is now 99 to 100--
a fall of 21 per cent. Great Western,
was then 99-.}. 3, it is now 78 9 ; South-Western
911 21, it is now '72 74 ; South-Eastern then
761 7, now 57 8 ; Eastern Counties then 13i 1,
now 112 ; Great Northern 83 4, now 69 70 ;
Midland then 75/ 76/, now 55 6 ; York and
North Midland then 60 61, now 42 44 ; and
York and Berwick 69 70, now 56 58. But why
multiply examples ? Everything shows that the
fall in railway shares has been from 20 to 30, or,
in some instances, nearly 40 per cent. ; and we
believe that the general depreciation on the accu-
mulated and realised property of the country
has been, on an average, 15 per cent. ; or
assuming that realised property, according to the
general estimate, at six thousand millions, a loss
of nine hundred millions sterling, or one hun-
dred and twenty millions more than the national
debt. This is a pleasing boon, for which we are
chiefly indebted to the Emperor NICHOLA S, and
partly to the proceedings of the Directors of the
Bank of England, aided and assisted by the
timidity and nervousness of our capitalists.
There is one description of security, and one
only, that has escaped the general depreciation. It
is right that attention should be called to the fact
that Bank of England Stock maintains the same
price now that it did in April, the price then being
225, the present quotation 224 6. This simple
circumstance speaks trumpet-tongued as to the
nature of the tactics carried on by the Directors.
They have schemed and manoeuvred to improve
their own dividends at the expense of the com-
munity, entailing losses to the extent of many
hundreds of pounds sterling for every 20s. profit
gained for the proprietors. We cannot suppose
that they could have believed that the results of
their operations would have been so very disastrous.
But they evoked the spirit which they are now
unable to subdue. They sowed the whirlwind,
and they are reaping the storm. Let them now
reflect on the deplorable consequences of their
proceedings. Let them not be misled by the ful-
some panegyrics of contemptible toadies, who
applaud their prudence and foresight (GOD save the
mark), and think their sole object should be to
paralyse the efforts of industry. They have
nearly as much to answer for as NICHOLAS
himself in producing the present crisis, and
if we take measures to blunt the fangs
and pare the claws of the great Bear, we must
also prevent the Directors from obtaining powers
',be reckless abuse whereof has led to such disas

TIIEATRE ROYAL DRURY-LAME.

Lessee, Mr. E. T. Smith.
LAST FIVE NIGHTS of Mr. GUSTAVUS V. BROOKE.
THIS EVENING, SETT. 27,
Will be performed THE LADY OF LYONS. Supported by
Messrs. G. V. Brooke, A. Younge, Edgar, Moorhouse, and Belton;
Mesdames Anderson and Belton.
To conclude with THE FOUNTAIN OF BEAUTY, in which
Miss Featherstone and Miss E. Ormond will appear. Reduced prices
us usual.

THEATRE ROYAL ADELPET.

Proprietor. Mr. B. Webster —Directress, Madame Celeste.

THIS EVENING, SEPT. 27,

be performed GENE VI E VE. Characters by Messrs. Parselle,
G. Lee, Leigh Murray, C. Selby, Bedford, Keeley, 0. Smith, &c. ;
Miss Woolgar, and Mrs. Keeley.
After which, will be presented SARDANAPALUS.,
To be followed by THE CAMP AT CHOBIIAIf.
To conclude with COMING OF AGE.

ASTLEY'S ROYAL AMPHITHEATRE.

Sole Lessee and Manager, Mr. William Cooke.

Mr. W. Coma feels the greatest pleasure in announcing that the
Grand Mythological Burlesque Spectacle each Night increases in
attraction, and the pleasing and instructive nature of the sui ject
has already gained the attention of Parents and Guardians, who
nightly flock to the Amphitheatre with their younger branches to
witness the astounding and classical effects introduced in this un-
rivalled production. In order to keep up the uninterrupted chain
of novelty, an engagement has been entered into with Signor
CARLOTTI and Signor FRANCOIS, who will introduce their
matchless Feats as performed before the Rajah of Nagpore. These
extraordinary Artistes are pronounced incredible.

,rous consequences.

One word, before we conclude, to legitimate
and bona fide holders of stocks and shares. Let
them abstain from sacrificing their property at
present prices. Let them refuse to play the game
of their opponents, but hold on steadily. They
will find that there will be a speedy reaction, and
that they will have ample cause for rejoicing if
they pursue the course we recommend, and avoid
the pit dug for their reception.

The ancient world signalised its greatness chiefly
n monuments of vast size, and sometimes durabi-
ity. The extent of Nineveh and the colossal
structures of Egypt still strike us with wonder ;
Grecian civilisation left us models of beauty which
are, and ever will be, the adoration of every man
of taste ; Rome adorned her naturally utilitarian
labours with the elegance of Grecian conceptions ;
the Middle Ages gave us ecclesiastical models
which, from their own point of view, can hardly
be surpassed ; but the present age, which in all
these things is little more than a copyist of the
past, has at least given the world one thing—it
is commonly termed a mechanical age, and one of
its chief historical characteristics will assuredly bo
an unheard-of development of mechanical power.
Its most vast conceptions begin with the steam-
boiler. To facilitate the creation of steam, to
husband its strength, to adapt it to machinery
which shall waste as little as may be of its giant
power, to level or bore through hills, to fill up
valleys, to build monster bridges, all to give free
course to this great monarch of the age, is the
great task of our day. Almost all our monster
works by sea or by land are built in homage to
the great moving power. Monster viaducts, mon-
ster embankments, monster iron bridges, monster
ships, double the size of a great man-of-war, are all
but, implements for the service of the monster
power,
which seems adequate to move the very
world itself,
if any one would find it the standing
place desired by Archimedes.
We recorded but the other clay one of its latest
triumphs, a monster and a model factory.
A beau-
Aire, its romantic scenery corcunences; a building
whose area of ground is not less than six acres, and
its arealolw(, )fafnlo di2
oringj acres, the mill itself 550
feetfeetlihigh ; looms to the number
of 1,200.
The shafting of the machinery,
which
moves them, nearly two miles in length, and GOO
or 700 tons in weighttiful fabric, or 5,688 miles
; capable of producing 18
miles a day of beau
of weaving a girdle
per annum, and, therefore,
'sons engaged in the
population of 10, 000 l'°l
for the globe in a
trifle more than four years ; a
, asrent. Such are thevarious processes—servants and handmaids to the
requirements of the great
almost illimitable power of the steam-engine—a
prominent features in this last tribute to the
power,
1,200 horses.
in this case, estimated as equal to that of

Mr. SALT, the spirited and generous proprietor
of the whole, gave a splendid dinner at its open-
ing on the 20th. He was amongst the very first,
we believe, to introduce the manufacture of al-
pachn into Bradford, and realised a splendid for-