The Sun.
London, England, 1854-07-07 00:00:00

CONGLETON AND DIDDULPH VALLEY.

Lord STANLEY reported from the sub-committee that
the parties promoting the bill had stated to the com-
mittee that it was not their intention to proceed with
the same.

GREAT WESTERN (OXFORD, WORCESTER, AND WOLVER-
HAMPTON).

Mr. LASCELLES reported from the sub-committee that
they had examined the allegations contained in the pre-
amble of the bill, but the same had not been proved to
their satisfaction.

LLYNVI VALLEY (No. 2).
Mr. ADAIR, reported from the sub-committee that
they had examined the allegations contained in the pre-
amble of the bill, but the same had not been proved to
their satisfaction.

SCOTTISH CENTRAL AND SCOTTISH MIDLAND JUNCTION.

Mr. DIvETT reported from the sub-committee that
they had examined the allegations contained in the pre-
amble of the bill, but the same had not been proved to
their satisfaction.

justbld been pre-
sentedo era of the
1 res of the Leeds Northern
guaranteed preferential
LEEptso NORTHERN.
—oAf Lpoertditsionby has
se
astbsaegeofabill
these Railway,
description
ofs o f
securities.great st h' interestae
L lete d s appearsto al
Northernl proprietorsthat
sn
withee
the
hho
eef
amalgamation effectedb bywhom it had been opposed, an at-
tempt York companies,
as to whether the
maytdethatto
shallobta inoonathpeepi
tbrouz has been
em shall be faithfully
rights
that the re •
receipts of the line
shareholders ,
ts-dhe liPbearrati oitaemisubmit e
guaranteedn
itnoo.a n arbitration
to t
h preference
fulfilled, the plea tbteh '
are small, and that these persons should consequently
submit to a modification of their claims. The bill
for the purpose has passed the Commons, and is nowbefore the Lords ; but, assuming that the allegations
in the petition against it are correct, it seems impos-
contensible that it can be finally adopted. The principle
contended for appears to be neither more nor les s
than that Parliament shall interfere to alter definite
contracts, in order to adapt them to any variation that
may subsequently have taken place in the circumstances
of the respective parties, since, beyond the statement
that it is inconvenient to the company to remain with
the weight of their existing liabilities, nothing is urged
except that the guarantee holders have had their pros-
pects of payment improved by the amalgamation that
has been brought about, and that therefore they ought
to be liberal, and to give up part of the dividends to
which they are strictly entitled. Whether this doctrine
will be sanctioned by the Legislature remains to be seen.
The measure of one of those that sometimes by a few
specious representations get quietly through, from the
fact of notice not being directed to them, but it is to be
hoped that the steps now taken by the persons affected
will cause an amount of attention to be given to it suf-
ficient, at all events, to insure a full consideration of
the extraordinary principle it seems to involve.
the CdAiLrEeagainsts . Co p I
thein g
proposedand Campbell,
amalgama-
tion
e t we
aor
heard
f
with the Edinburgh and Glasgow. We
Dct°o7sA, s'ar.—e defaedssr
have
that the Edinburgh and Glasgow gentlemen
nerly but
un-
matchec in Scotland for managing things cleverly,
r4el,'o lourno.
th. public. They work quietly.-7,Elercip
they do not like to make a noise, and clitter clatter:wi_th