The Sun.
London, England, 1853-08-24 00:00:00

RADCLIFFE RACES.

(THIS DAY.)

(BY .ELECTRIC TELEGRAPH.)
BURY PURSE.
C by Melbourne—Miss Castling
MANCHESTER CUP

Sir Robert
Gameboy filly

walked over.

Three ran.

1
2

STATE OF TRADE.

(From the Manchester Guardian of this day.)
MANCHESTER, Aug. 23.—The telegraphic notice of the
India and China advices, received this morning, has
tended still to keep merchants out of the yarn and cloth
markets ; and the prospect as to the supply of grain in
France and Italy, as well as in this country, is
calculated to operate restrictively upon the money
market, and in that way to limit the purchase of our
fabrics, especially for distant countries. The consequence
is, that we have, again had a quiet day ; and, in
some articles, pries are slightly more unfavourable to
sellers than they were last week. This bias is chiefly
observable, as it was last week, in pincops, for domestics,
which seem now to be touching their proper level ; in
some kinds of warps, in 16's to 24's reeled water twist ;
in mule twist, for India, and in wide G E shirtings for
the East. Yet, in these the decline is small. The
makers of the shirtings referred to, are so confident of
a prospective demand, that they have no hesitation
about keeping stocks on hand. But, in some articles
the market is dearer. This is the case with nearly
all doubled yarns ; and the Bolton spinners of
60's and upwards, either have raised their prices, or
are about to do so. In fact, with some irregularity, our
market, both in the department of yarns and of goods,
exhibits an aggregate steadiness, indeed firmness, which
naturally results from the extent of the engagements in
band combined with the increasing cost of production.
The advance in wages is going through the district. In
many scattered establishments it is quietly paid, and the
public hear nothing about it. At Blackburn, Preston,
Burnley, Accrington, and the neighbourhoods included
under those names, the ten per cent. is given both to the
weavers and spinners. The Ashton spinners have issued
a circular calling for five per cent. in addition to five per
cent. previously paid. The American accounts show a
hardening tendency in cotton ; but vessels were exceed-
ingly scarce, and freights extremely high. The printed
circulars say a good deal about rains and worms ; but,
the most respectable private letters, and the most trust-
worthy circulars also, describe the season as favourable.
One of the latter, from New Orleans, says, "We ob-
serve some very flattering accounts from the country
with regard to the growing crop of cotton ; the few com-
plaints made are of overmuch rain, causing, as it neces-
sarily will, rot and the shedding of forms and bolls.
But we see no reason to change our favourable opinion
of the prospects for a good yield generally.
ROCHDALE, Aug. 22.—We have had but a poor mar-
ket to-day, being the wakes, which generally interferes
with business. English wool is very firm, and rather
more inquired after.
HALIFAX, Aug. 20.—The attendance in our Piece-
hall to-day has been exceedingly slender, and scarcely
any worsted goods have changed hands. There is an
improved demand for yarn ; and the buyers are giving
out their orders more freely. The wool market is much
the same as noted in our last ; the prices asked by the
growers being higher than those realised by the staplers.

FROM THE LONDON GAZETTE of YESTERDAY.

WHITEHALL, AUG. 20.

The Queen has been pleased to appoint the Right Hon.
Sir John Romilly, Knt., Master of the Rolls ; Sir William
Erle, Knt., one of the Justices of the Court of Queen's
Bench; Sir Charles Crompton, Knt„ one of the Justices
of the Court of Queen's Bench ; the Hon. Henry Fitzroy ;
Henry Singer Keating, Esq., one of her Majesty's Coun-
sel ; John Herbert Koe, Esq., one of her Majesty's Counsel;
Alfred Septimns Dowling, Esq., Serjeant-at-Law ; John
Pitt Taylor, Esq. ; and Joseph Randolph Mullings, Esq.,
to be her Majesty's Commissioners for inquiring into the
state and practice of County Courts.

WHITEHALL, AUG. 23.
The Queen has been pleased to appoint the Right Hon-
ourable Spencer Horatio Walpole ; Sir George Rose,
Knt. ; Clement Tudway Swanston, Esq., one of her Ma-
jesty's counsel ; Matthew Davenport Hill, Esq., ono of her
Majesty's counsel; James Bacon, one of her Ma-
jesty's connsel ; Edward Holroyd, Esq., one of the Com-
missioners of the Court of Bankruptcy ; Edward Cooke,
Esq.. barrister-at-law; and George Carr Glyn, Esq.—to be
her Majesty's Commissioners for inquiring into the Law of
Bankruptcy.

BANKRUPTS.

Henry Parman 'Taylor, licensed victualler, Dalston, t 3
surrender Sept. 6, at half-past eleven, and Sept. 28, at one,
at the Court of Bankruptcy. Stansfold, official assignee,
Basinghall-street ; Peddell, Cheapside.
Elizabeth Morris, grocer, Gloucester, Sept. 5, and Oct.
3, at eleven, at the Bristol District Court. Acraman, offi-
cial assignee, Bristol; Smalltidge, Gloucester.
Thomas Stevenson, printer, Nottingham, Sept. 9 and
23, at ten, at the Nottingham District Court. Harris,
official WiSignee, Nottingham; Parsons, Nottingham.

DIVIDENDS.
At the Court, Basin hall-street.
J. Appleton, Crow a-square, Southwark, hop-merchant,
Sept. 16, at twelve—J. Lockyer, Clerkenwell-green, and
Sept. ohn'-square metal tool and iron warehouseman, Sept.
15, at half-past eleven—F, Hatch, St. John's-square, Clerk-
enwell, iron-plate-worker, Sept. 15, at twelve—J. H. Gib-
bons, Wood-street, Cheapside, straw-hat warehouseman,
Sept. 12, at one.

J. Spry, Bath, auak the Country,
Com Bristol. ' -eear7, Sept. 22, at eleven, at the
PAYMENTS op Tyry
S.
T. Hall, Kingston-upon-Hull-,- 'ininiCeNpepr!:6s. 10d
Tuesday, ct. 4, or any subs
eleven and O
two, at the office of (3'rent Tuesday, between
oeenn.
H. W. Hayes, Teignmouth, Carrick, Bull.
Tuesday or Friday, between eleveneavn)dtte ,2s on ,thoen 0
flia any
of Mr. Hirtzell, Exeter.
NOTICES OF CERTIFICTI, S,
6
At the Court, Basinghall-street.
Sept.R. Sanderson, Oxford-street, tailor, at
—B. Collett, Sise-lane and Hendon, dealer in shares,tw,elve
16, at eleven—H. M. Morgan, Reading, shipowner, Sept,e
j 4, at twelve—R. Lockyer, Maidstone, licensed victualler
and plumber, Sept. 14, at two.
CERTIFICATES GRANTED.
W. Nicholson, Durham, timber merchant and iron-
monger, Aug. 10, certificate of the third class—J. Wil-
liams, Frith-street, Soho, goldsmiths, Aug. 22, certificate
of the third class—G. Baker, stock broker, Threadneedle-
street, Aug. 16, certificate of the third class.
PARTNERSHIPS DISSOLVED.
R. Southworth and S. Spencer, Shipley, Yorkshire,
linendrapers—V. Stevens and R. Stevens, Bell-yard, Fleet-
street, printers—S. James, R. J.Pierce, and G. Colthurst,
Bristol, maltsters and brewers (so far as regards G. Colt-
hurst)—R. Sibley and J. Waple, Dufours-place, Golden-
square, manufacturing silversmiths—J. F. Calland and J.
Glassbrook, Landon, Glamorganshire' earthenware manu-
facturers—J. Hill and J. Marsden Kidroyd, Yorkshire,
finishers of fancy goods—J. Lees and W. Ogden, Oldham,
Lancashire grocers—S. Cull and J. S. Cull, New-
ton Abholt, timber and general merchants, and
ww
ar builders—Elijah Barlow and C. Bassett, Polesworth,
ie ksbire, brick and tile makers—W. Benington and
J. Dodshon, StocktDuckworth, J. A no
n
,
Durham, wholesale grocers—a
Blackburn, Lancashire and E. Duckworth, Furthergate,
J. Ashworth, W. 1) brickmakers—Robert Ingham,
cotton-spinners (so fa . Cunliffe, and J. Cunliffe, Rochdale,
, s regards J. Cunliffe)—R. New-
berry and R. Blake, Taunton, lincndrapers—A. and J.
tanners—T,
B.
W.
Steele, Durham, tanner
Hertfordshire, faime • Blyth, Braughing,
incenn,Bearo attorneys—G. s y
Verulam-buildings, Girl: 1* B. Cooper and F. Gale,
Smith, Paddington-green, licensed victuallers.s—G A. and F.
INSOLVENT PETITIONERS
Richard Richards, Rhymne -
i
merchant. Y, Monmouthshire,
tmber-
John Burgess, Macclesfield, joiner.
Nathaniel Harris, Glamorganshire, blacksmith.
.Elizabeth Dadd, Sandling, Kent, farrier.
Ann Whitlow, Lostock Gralare, Chester, (lair • 1
yreait.,

RAILWAY INTELLIGENCE.

MIDLAND.

The general half-yearly meeting of this company was
held yesterday at Derby, and was attended by a very
numerous body of shareholders. Mr. J. Ellis, the
chairman, of the directors, presided.
Mr, J. F. Bell, the secretary, read the report of the
directors. It stated that the gross receipts from thp
traffic of the half-year ending June last have exceede
those of the corresponding half-year of 1852 by the sum
of 46,997/. exclusive of receipts from the North-West-
ern. The proportion which the working expenses have
been borne to the receipts (exclusive of rates, taxes,
Government duty, and the provision for the renewal of
permanent way and increase 6f rolling stock) has been
441. 17e 6d. per cent., as compared with 41. Bs. 7d. per
cent., as compared with 411. Bs. 7d. per cent. in 1852 ;
the percentage, however, of 1852 did not include the
working of the North-Western. The balance available
for dividend is 173,4061.; and the directors recommend
dividends payable on the Ist of September as follows :-
11. 12s. 6d. upon each 1001. Midland consolidated
stock • 18s. 9d. upon each 1001. Birmingham and Derby
consolidated stock, 31. upon each 100/. consolidated
preferential stock ; 11. 10s. upon each Erevrash Valley
share ' . and 2s. 3d. upon each share of 163. 13s. 4d.,
being 41 per cent. upon 51. per share paid up. This
will leave a balance of 2,0841. to be carried to the next
account. There has been a great increase in the cost of
the maintenance of way—one-half of which is caused by
the reinstatement of the line and works from the da-
mage done by the floods of last winter. The high rate
of wages, the additional length of line maintained, and
the larger traffic upon it, have also contributed to that
result. The many advantages arising from the use of
the fish-joint, when applied to rails of the ordinary
construction, have induced the directors to purchase
from the Permanent Way Company the right of using
this and all their other patents, which will effect a
considerable saving. 161 miles of double line have been
relaid, and 15 miles fish jointed during the half-year.
The increased speed and weight of the trains, however,
render it necessary to proceed more rapidly than they
have hitherto done with this work, and with the substi-
tution of 801 b, rails for 561 b. and 651 b. rails, and the
directors recommend that so much of the cost thus in-
curred as represents the " increased " strength of the
permanent way should be charged to capital, and the
remainder to revenue. The works between Gloucester
and Stonehouse, which were much impeded by the late
unfavourable weather, are now proceeding rapidly to
completion. The narrow "guage from Stonehouse to
Bristol is completed, with the exception of about two
miles, and it is anticipated that there will be an unbroken
narrow guage to Bristol in the course of the autumn.
Ten new goods engines and tenders and 590 waggons
have been added to the stock since last half-year, and
the cost has been charged to capital, as authorised by
the proprietors. In consequence of the very large addi-
tion to the goods and mineral traffic, the directors have
contracted for 20 new goods engines and tenders, at a
'cost of 52,0001., to be charged to capital. The mileage
of trains for the half-year has been 3,009,993 miles,
against 2,603,068 for the corresponding period of 1852 ;
and the weight of goods and minerals carried has been
1,846,016 tons, against 1,508,058, being an increase of
337,958 tons. With respect to Parliamentary proceed-
ings, the directors state that they found it necessary to
oppose the bills of the Leicester and Nuneaton, the
Ambergate, Nottingham, and Boston, and the Stam-
ford and Essendine railway companies, as they con-
tained *clauses very inimical to their interests. The
bills of the two first-named have been rejected
by Parliament, and the objectionable clauses struck
out of the Stamford and Essendine. The bills promoted
by the Midland Company for the construction of
the Leicester and Hitchen Railway, and for the conver-
sion of the debenture debt of the company into pre-
ference shares or annuities, have received the Royal
assent ; but the bill for amalgamation with the London
and North-Western has been withdrawn, in consequence
of the appointment of a select committee of the House
of Commons, which advised the house not to allow of
any amalgamation this session, and which has since re-
ported against the amalgamation of very large companies.
The CHAIRMAN, in moving the adoption of the report,
said, that the position of the company with respect to
the revenue of the line was exceedingly satisfactory.
The increase of their earnings had far exceeded expec-
tation, and it was still progressing at a most gratifying
rate. Turning to the, other side of the question, how-
ever, he at once admitted that it was far from satisfac-
tory. (Hear, hear.) They must, of course, have anti-
eipated a considerable increase in their expenses from
various causes, which must be obvious to every one.
In the price of all the materials employed in the re-
pairs of stock, and especially of locomotives, there had
been a very great increase ; but he confessed that he
and his brother directors had been surprised at the end
of the half-year to find the amount by which the ex-
penses had exceeded those of the former half-year. The
expense of the permanent way had increased by 3,8001.
The proprietors would remember that at the last meet-
ing he had stated, with reference to the heavy floods,
that Mr. Barlow, the engineer, had informed him that
they would inflict a cost on the company of something like
10,0001. About 3,0001. of that sum they had paid last
half-year, and he believed that something like 4,0001. of the
present 8,000/.was attributable also to the consequences of
those tremendous floods. 1,2001. had been occasioned
by the Little North-Western, and the remaining 3,0001.
was partly accounted for by the high wages, and partly
by the high prices of materials. When it came to be
examined, he did not think that there was anything to
be dissatisfied with with respect to the increased charge
on account of the permanent way. (Hear.) In the
locomotive power there was an increase of 22,0001.
About 6,000/. of that had arisen from working the Little
North-Western, reducing that increase to 16,000/. In
the half-year, however, they had nearly 406,000 ad-
ditional miles, and carried 337,000 tons more weight
than in the previous half-year. The Locomotive Com-
mittee were disposed to exercise the utmost amount of
economy that could possibly be practised in that depart-
ment consistently with the safety and efficiency of the
stock, but beyond that they could not and were not pre-
pared to go. (Hear, hear.) In the coaching depart-
ment, also, there had been an increase of about 7,0001.,
1,000/. of which arose from working the Little North-
Western, and the remainder from the increased rate of
wages and materials. 7n the merchandise department
there had been an increased expenditure of nearly 10,0001.,
1,0001. of which was attributable to the Little North-
Western, while the remainder had arisen from the same
fertile source of increased expenditure—the price of
materials and wages. The directors, however, had
come to the conclusion that the merchandise department
at the various stations required a very close revision.
During the continuance of the floods in the winter it
had been necessary to put on a great number of extra
hands beyond what was requisite for the ordinary
traffic. Many of those hand had since been dis-
pensed with, but not to the full extent, and measures
were being taken for strictly and stringently investiga-
ting the state of the staffs at every station, great and
small, and for making such reductions as with safety
they could make. (Hear, hear.) They did not intend
to do anything in any way. to impair the working of the
line, but every effort that men of business could exert
should be made to reduce this charge to the lowest pos-
sible point. (Hear, hear.) The directors were as
anxious as the proprietors could be to keep down the
expenses ; but every man of business knew that in the
present state and tendency of things in this country it
was not possible to expect any great reduction of expen-
diture ; but they must be content if they could keep ex-
penditure at its present amount. The directors were of
opinion that the time had come when they ought to go
thoroughly through all their sources of revenue. Almost

every class of people, in whatever trade engaged, were
making money out of the present circumstances of the
country, but themselves. They were so tied down in
many cases by their maximum rates that they could not
help themselves ; but they intended to go carefully
through the whole of their rates, and in every case where
it was practicable and safe to increase their rate of
charges. (Hear, hear.) That was really the only way
of meeting the difficulty. To a considerable extent he
hoped they would be able to accomplish their object. In
some measure it had already been effected ; but it was
their intention to go through the whole of the rates
again with the view of raising them. He was not afraid
of losing the traffic—not a bit. It was not as if they
had a sinking traffic. They had an immense traffic,
and it was their duty to deal with it, and to make
the most of it. (Hear, hear.) With regard to the
Little North-Western line, there might have been a
loss of 1,0001. or 1,5001. this year, taking it
by itself, but, looking at the traffic which it took to
and from the Midland, he was convinced that
on the whole it was a great gain to them. The traffic
upon that line had increased by between 40 and 50 per
cent., owing to its being worked by the Midland, and
to the traffic which they mutually brought to and con-
veyed from each other. (Hear, hear.) The next im-
portant question was that of the maintenance of way,
and it was one which the proprietors must meet boldly.
They were aware that up to this time railways had been
almost an experiment. He had been a railway director
24 years, and he remembered that they began with 351 b.
rails, then they got to 401 b., then 561 b,, then 651 b.,
Vib.7rOalib is ~ and now they thought that nothing less than
Only, but trieould carry them safely. But not the rails
o aunl dd ' tli .chairs and sleepers had also increased in
Wtheeimghtsh;
opinion that ni
65inasmuch as their original rails had been
451. b, and
co rails, it was necessary that every one of
should be defraye
the
e ut at once. If the meeting were of
coat of replacing them with 801 b. rails
say. so. The dir
unjust course toward.:
ectoont of revenue, it was for them to
n g tphreo
ppresent ,
ad a proprietors,ugges tso long
theasthdeiyffewreenrecea
wftieentlitohteight
.that that would be an
eirrghhtes
labour of theo f two
relaying,r ail
should be bornebB bi le
by the capital,
toaladl .1) 0
u(
paidou of capital.
of revenue, and the
they thought, should be
tHeelaorsinteatrh.e)
them that they
had develo edthe whole
difference in weight only
They had often talked in that roaopinit
ebiuttubnetilalatdheayl w
never
could
traffic of the country and had brought the
uceldmicnitos;
tern to a perfect system. They must develops railway
sYs.
traffic, and they might depend upon it they could
cone
not carry it on with the old rails. The directorsud
were bound to see that the line was safe for the pub-
lic to travel on, and it was not safe while they had
only 561 b. rails where 801 b. rails were required. It
was
for the meeting to say whether they would charge
tal, because there was no question but they must be laid.
the cost of laying down those rails to revenue. or to Capi.
improving rails. For
times for connecting and .
down. A great many patents had been obtained. at dif-
ferentseveral years past the directors .
called, in use
attention to the "fish-joint," as it was
they were so satis-
had paid considerable
upon the Eastern Counties line, and
About it.
_ joint
fied of the great benefit which resulted from its use that
they did not intend in future to lay any rails without it.
They were of opinion that the expense of the fish
_.- .
should be also charged to capital. (Hear, hear) There