The Sun.
London, England, 1854-03-06 00:00:00

THE SUN, LOND'ON, MONDAY EVENING, MARCH 6, 185 4.

motion like Sir E. DERING'S. It would not be
inconsistent with Lord JOHN'S antecedents to quail
before such determined enemies and unwilling
allies. We must own, however, that it may be
good strategy in debated questions to leave the
enemy in a position which every day's discussion
will weaken, and especially not to give them
the benefit of a device by which they will, in the
same act, lay claim to Liberal principles, while
they are joining Conservatives to defeat a liberal
measure.

With some apprehension about his eventual
firmness, therefore, we give Lord JOHN RUSSELL
credit for sincerity. He must prefer to pass his
bill if ho can. If he cannot, the fault will be
with recreant-hearted Liberals, and perhaps with
the country. It wants, indeed, many of those ma-
nifestly popular points, such as the ballot, house-
hold or municipal suffrage, and a self-consistent
distribution of representatives, which would arouse
irresistible enthusiasm out of the house ; but still
we maintain, with such an old and consistent re-
former as Mr. HUME, that the bill is worth
having. The abolition of so many petty
boroughs, the deduction of one member from
others, the abolition of the hateful ratepaying
clauses, the enlargement of the county qualifica-
tion, and even the miserably small lowering of the
borough franchise, are all worth having ; and no
declamation will satisfy a thoughtful Liberal that
any member of Parliament who, by a direct or
indirect movement, attempts to burke this bill is
himself an honest Liberal. With the hope that
the measure will be pressed after the Easter holi-
days, it is a decided advantage to have the three
bills, for England, Scotland, and Ireland be-
fore us, previously to the debate on the
second reading. An advantage to the full
and fair consideration of the whole scheme
we mean, for what effect it may have on Irish
members, if many of their constituencies are dealt
with, as in all reason they ought to be, it is but
too easy to divine ; an effect no way favourable
on their votes. The mere introduction of these
bills looks, at least, as if it were intended to
proceed with all of them. It would otherwise
have been easy to excuse their non-appearance
till the principles for all had been decided on the
second reading of the English Bill.

The majority of the South-Easters Railway
Company Board have been virulently attacked in
consequence of the manly and decisive course
which they have adopted for the purpose of dis-
tinctly and unequivocally ascertaining the true
sentiments of their constituents. It would, in-
deed, be difficult to discover any line of policy
that would please the malcontents, who are pre-
pared for censure in any and every step taken by
those whose power they covet, and whose places
they would gladly fill. Although thoroughly
alive to the importance of the decision that must
be come to at the forthcoming meeting, although
aware that a crisis has arrived on which the future
welfare and prosperity of the undertaking must
mainly if not altogether depend, they yet cavil at
the issue of proxy-papers duly stamped, and in con-
formity with the law, to every proprietor who may
be unable to attend on the appointed day. They
speak of the expense, as if it were not a matter
of the most trivial importance in comparison to
the other matters involved in the result. The
half-crown which it may cost to obtain the views
of the proprietors of Stock-,--to the amount of
many hundreds, perhaps thousands, of pounds—
is deplored as if it were an instance of the utmost
prodigality and recklessness of expenditure, and
is treasured up, with other accusations, to be
hurled against the devoted heads of the Directors
whenever the opportunity may arise. The dig-
nified and unanswerable vindication of the step,
which appeared in our impression of Saturday,
must, however, remove every undue impression
that could be formed in reference thereto ; proving,
as it does, that the omission thereof would have
been a piece of very culpable negligence, for which
the managers would have justly merited the cen-
sure of the shareholders.

It is impossible not to perceive that the mal-
contents are endeavouring to raise a question of
want of confidence in the management—to change
the direction of affairs per fas ant nefas. To
achieve this object, to worm themselves into the
positions from which they hope to expel the pre-
sent occupants, they are prepared to do any act,
however prejudicial to the best interests of the
general body of proprietors. They endeavour,
then, to get up an unreasoning and parrot-cry
against " extensions"—thinking that they may be
enabled thereby to induce timid and weak-minded
persons to change their opinions, and to rescind
the resolutions at which they had formerly arrived,
and that persons, without due examination, will
condemn a project adopted by the Board after the
most mature and anxious consideration, and not
then objected to by a single proprietor.
It is paying but a very sinister compliment to
the proprietors generally to suppose that they
could be guilty of so much fickleness and incon-
sistency, or that a state of things may be pro.
duced

-" Where gentry, title, wisdom
Cannot conclude but by the yea and n•
Of general Ignorance."
Where

•`0 It must omit

Real necessities, and give way the while
To unstable slightness ; purpose so barr'd, it follows
Nothing is done to purpose !"

This is not what the proprietors desire. It is
not consistent either with their reputation or
their interests. The bill now before Parliament
for making the Lewisham and Bromley line had
been long since sanctioned and approved of.
It was merely postponed, not abandoned.
The notice of its temporary withdrawal
was to avoid any pretext for ho3tility with the
Brighton Company, with whom negotiations were
then pending—.negotiations which have proved
hitherto abortive, but which most probably will
terminate in arrangements highly beneficial to all
parties concerned, and more especially so to the
South-Eastern proprietors. Indeed, the situation
of the lines distinctly points out the propriety not
merely of a cordial alliance, but of a perfect
amalgamation by which their interests may be for
ever rendered " one and indivisible." To the
satisfactory settlement of these matters, the con-
struction of the Bromley and Lewisham line in
indispensable ; for, as Mr. MACGREGOR justly
remarked in a former circular, "it is of
every consequence that the position of the South-
Eastern Company be maintained, and its equitable
proportion of the future joint earnings be se-
cured."

could by any possibility attend would do so, while
those unable to do so would hasten to confide
their proxies to men on whose steadiness and con-
sistency they could place implicit dependence.
Where, then, is the unnecessary expense ? Where
the cost that might so easily have been avoided ?
What signifies it whether the amount came from
the pockets of individual proprietors or was de-
ducted from the dividends that might otherwise
be paid to these same proprietors? The objection
is, indeed, one of a very captious and untenable
character, for, as the Directors truly declare, the
right of voting by proxy would be a dead letter
if the means of voting by proxy papers were not,
when necessary, supplied. *very one at all
familiar with the proceedings at railway meetings,
when a poll has been called for, must be well
aware of the numerous objections taken to the
form and sufficiency of the proxies, and of the
many instances where parties have been thereby
practically disfranchised. The object, then, of all
persons desirous of eliciting the real opinions of
the shareholders, and of allowing the views of
every man to be represented at the meeting,
should be in favour of the step so judiciously
taken ; and from which it is clearly perceptible
that the Board do not fear the result of
appeal, while their opponents, who complain of
the measure, are desirous of being enabled to re-
sort to the tactics in use on such occasions, and
to obtain a result which does not coincide with the
views of the majority. It is scarcely necessary
to add, although we do so to prevent the possibi-
lity of misconception, that the proxies so issued
are not necessarily in favour of any person or any
line of policy, btt that each person may fill in
the name of any proprietor to whom he may think
proper to entrust his vote.

We repeat the ci•cnlar for illustration :
" South-Eastern Railway, London-bridge
Terminus, March 3, 1854.
" Gentlemen,---If anything wero wanting to show the ne-
cessity for union in the direction of your affairs it is to be
found in some of the papers lately put forth.
" The circular of February the 16th, signed by the chair-
man only, Was submitted to the full board of nine directors
for consideration, and was finally, in its published form,
sanctioned by a majority of six, three dissentient directors
opposing it.

i‘ Voting by proxy is secured to you by act of Parliament,
to enable each shareholder, when unable to attend, to express
his opinion and sentiments through his proxy, in whom he
places confidence and trust. It is of the highest moment,
therefore, in order to obtain the decision and government of
your affairs by the majority, that papers stamped as required
by Parliament should be issued and place 1 in your hands, to
be used at your discretion and by your own free judgment,
for the control and admilistration of your affairs. It has ever
been an attentive m ►rk of our duty to court your opinion on
questions of moment, when the views of the proprietors at
large should be taken ; for, unless the board of directors sup-
plied to the shareholders the means of voting by proxy, it will
be obvious that each shateholder, unapprised of the necessary
form and the stamp to De affixed, would be deprived of the
exercise of that right of representing his opinions at the meet-
ing which the Legislature intended.
" The circular of Felruary 16, therefore, thus opens and
leaves the question ant decision to all the shareholders,
carefully pointing out that the insertion of any other pro-
prietor's name, instead cf the chairman's, will make the en-
closed paper of proxy eqully available in favour of the name
substituted as you may think proper.
" Unless the means )f so representing yourselves at the
meeting were erred for and provided, you will readily see
that the conduct of you' affairs might drop into the hands of
a minority, whose object may be of a passing and transient
character, perhaps inimical to the permanent interest of the
company.

"In either case the expense, which has been greatly over-
stated, is the same, whether defrayed by yourselves person-
ally, or by the company out of your own assets. But in prac-
tice the right of voting ly proxy would be a dead letter if the
means of voting by proxy papers were not, when necessary,
supplied to you for your 15e.
" The bill for making the Lewisham and Bromley lino
was before Parliament before the resolution of the company
with regard to the outlay of further capital, passed on the
17th of March, 1853. It htd previously received the careful
and anxious consideration a full board, and no objection
to it had been offered by any proprietor. It was withdrawn
only on prudential motives, to avoid any hostility with the
Brighton Company, who, pending negotiations with us, and
without our knowledge, proposed to amalgamate with the
South-Western. In tie judgment of the majority of the
board it will be remunerative ; but it was important not un-
necessarily to disclose an opinion which might suggest an
opposition to deprive you of its advantages.
" It would have beet a mere waste of time and expense to
have convened a meetiig to deliberate on the initiatory step
of re-proposing that vhich previously existed. Our duty
was to replace you in the former position, with everything
prepared, in order that at the right time you should decide.
" These are the plail facts, and we leave them to weigh
against the statements which have been made. You will be
enabled by the proxy japers placed at your disposal to assert
your own opinions, and to enable the sense of the proprietors
at large to be fairly and fully obtained ; and a week still re-
mains within which you may forward them to the secretary.
" Our anxiety is natlral, that no misrepresentation for a
moment shall be abroad of the good faith and earnest atten-
tion with which we watch over your interests and regard your
confidence. —We have the honour to be, geutlemen, your obe-
dient faithful servants,
1' JAMES MAC GRICOOR, Chairman.
J. RENSHAW, Deputy Chairman.
HENRY RICH.
CUARLES IRONSIDE.
HENRY LEWIS SAULE.
ROBERT BROWNE."

ARRIVAL 01P THE GUARDS AT
GIBRALTAR.

The Peninsular and Oriental Steam Navigation
Company's shiplndus, which reached Southampton
yesterday afternoon, brings intelligence of the safe
arrival at Gibraltar of the Ripon, having on board
the battalion of Grenadier Guards—all well—after
an exceedingly fine passage of six days from South-
ampton.
The Orinoco, with the battalion of Coldstream
Guards, had been in sight on the horizon through-
out the voyage, but would pass the Ripon at Gib-
raltar, as she would not stop to coal.

POST-OFFICE LONDON DIRECTORY.

SUPPLEMENT FOR 1854. Kelly and Co.

According to annual custom, the proprietors of
this mammoth directory of the metropolis, par
excellence " the" London Directory, have issued
before the spring arrives, and long before Easter
commences, an ample (pp. 124) and peculiarly ac-
ceptable supplement. It is a supplement giving us
in a new fora--corrected up to the last moment—
an:additional directory both Postal and Parliament-
ary. The latest changes are therein introduced.
Changes caused, some of them by removal, some of
them by death, some of them by promotion. An
ample peerage is prefixed. It would be difficult to
speak in too high terms of praise of this remark-
able mass of useful and valuable information.

COLOURED MAPS OF THE "SEAT OF

WAR."

BY JAMES WYLD.

MONEY MARKE

AND
COMATERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK

If, then, the proposed line should not prove
remunerative, it might still be of vital importance
that the sanction of Parliament should be ob-
tained to its construction. But, inasmuch as those
most competent to speak authoritatively on the
point, who have closely scrutinised the prospects
of the undertaking, founding their estimates as to
the probable results on the best data, are decidedly
of opinion that it will prove remunerative, and
would be well worth carrying into practical execu-
tion, independently of their relation with any other
company or companies, and although it were not
required for the purpose of self-defence, it seems
clear that it should not be lightly or wantonly
rejected, and that the decision of a matter of
such vital importance to the well-being of the
South-Eastern Company should not be left to
chance. The Directors then would, as we have
stated, have been guilty of culpable negligence
had they not issued these proxy papers, about
which the interested parties, who see thereby the
inevitable defeat of their machinations, have
raised so loud an outcry. Where the effect of the
decision might be, that the conduct of the com-
pany's affairs, and management of its concerns,
might pass into the hands of a clamorous minority,
whose objects were " of a passing and transient
character, perchance inimical to the permanent
interests of the company," it was surely desirable
that the sense of the proprietors should be fully
and fairly ascertained. This was the more im-
perative, as some of those who have faithfully
conducted the affairs of the company for nine
years have once more to appeal to their
constituents, awl it is intended to put forth
the whole strength of the opposition against their
re-election. What proprietor would abstain from
voting under such circumstances ? Those 'KW

The sales of cotton at Liverpool on Saturday
were estimated at 4,000 bales, including 500 Ame-
rican on speculation. The market closed heavily
without alteration in prices. The sales comprised
3,400 American, 40 Pernam and Maranham at
68d. to 7d., 50 Bahia at 60, 100 Egyptian at
61d. to Id., and 400 Surat at 3d. to 30. per lb.
Railway shares were flat, at a decline of is to 1 per
cent.

The corn trade is dull this morning.
The public sales of wool have concluded, 55,101
bales having been offered altogether, and of which
47,671 bales were colonial. The series opened at
the full average rates of October and November for
Port Philip and Sydney flocks, but Sydney after-
wards became a little cheaper. Cape of Good Hope,
of good clean quality, was scarce.
The gun trade at Birmingham are much disap-
pointed at the Government having in contempla-
tion the transfer of the manufacture of Ordnance
guns from that town to Woolwich. The manufaz-
turers, it is urged, have expended large sums of
money in the erection of extensive works and ma-
chinery, the best mechanics have been secured, and
the highest amount of perfection attained. A seri-
ous derangement in the event of such contempla-
tion being carried out, will therefore accrue
to this branch of local industry.
The railway meetings announced are the fol-
lowing :

Company. Date. Pla^e,
Aberdeen

Several additional maps,— illustrative of the "Seat
of War," have been recently issued from the esta-
blishment of this eminent geographer. Like their
predecessors, they are worthy of their publisher's
reputation. Their minuteness and their authen-
ticity are alike in the highest degree commendable.
Conspicuous among the maps last presented to the
community by Mr. Wyld are the following :—A
masterly sketch of the whole lice of the river
Danube, from Hirsova up to Orschova, extending
on the left bank far northward into Wallachia,
and on the right bank far southward into Bulgaria.
An admirable chart of the East Sea, or Baltic, in-
cluding the Gulfs of Bothnia and Finland—tracing
out, moreover, in midsea, between Sweden and
Russia, a clear red line of demarcation. An excel-
lent chart of the Black Sea has also to be particu-
larised—a chart embracing, besides the Euxine,
the lesser seas of Azof and Marmora. The appear-
ance of these singularly useful and meritorious
maps will be welcome, we doubt not, to all the
more intelligent masses of our population.

Mar. 22 Glasgow.

CABINET COUNCIL.—A. Cabinet Council was held on
Saturday afternoon, at the Foreign Office, Downing-
street. The Ministers present were the Earl of Aber-
deen, Lord John Russell, the Marquis of Lansdowne,
the Lord Chancellor, Earl Granville, the Duke of Argyll,
Viscount Palmerston, the Earl of Clarendon, the Duke
of Newcastle, the Chancellor of the Exchequer, Sir
James Graham, Sir Charles Wood, the Right Hon.
Sidney Herbert, and Sir William Moles worth.
The Earl and Countess of Sefton entertained a large
party at Croxteth Hall during the past week, on the
occasion of the Liverpool Spring Meeting, including the
Earl and Countess Craven and Lady Elizabeth Craven,
Sir Frederick. and Lady Bathurst, the Viscount and
Lady Seaharri, Mr. Henry and Lady Sophia Des Vceux,
Captain Moly neux, &c.
The Duke a .nd Duchess of Somerset entertained Lord
Glenelg, Lord Seymour, Mr. Babbage, and a small party
at dinner on S aturday evening, in Park-lane, after which
her Grace attended Lady Palmerston's party.
The Marchioness of Ailesbury has arrived in Gros-
venor-square, from visiting the Duke of Rutland, at
Belvoir Castle.
The Earl and Countess of Ashburnham and family
have arrived at, Ashburnham House, so long the seat of
the mission frot ni the Czar, and where the great Autocrat
sojourned during his brief visit to England, from Ash-
burnham-place..
His Excellency Sir Henry and Lady Bulwer, who
have been pass'ing the winter at Brighton, have returned
to town.

ARRIVAL Or SIR H. SEYMOUR IN ENGLAND.—Dover,
Sunday Evening, 7.3o.—His Excellency, Sir H. Sey-
mour, family and suite, '.ave arrived at Birmingham's
Royal Ship Hotel here, from Calais. There is a very
thick fog here. Her Majesty'spacket Onyx, with his
excellency on board, got ashore. He was consequently
rowed four miles in a boat ; all, however, arrived quite
well, and were not alarmed. Tho packet is safe, and
dill float =A tide.