The Sun.
London, England, 1836-12-24 00:00:00

issues except the second, and upon that a qualified verdict
was returned for the plaintiff.

this account, to "perate • less forcibly as a warning to
the public of the dangers to which they become liable
when they embark their property in ill-considered and
badly organised joint-stock operations. The official ac-
count alluded to above at length arrived, and what dal
it show ? Not ccaninly that the representatives of the
Northern and Central Bank had wilfully misrcpre-
seated the state of its affairs ; but that they had spoken
of these affairs in utter, - deplorable, and, we must
add, culpable ignorance of their real condition. In the
amount of circulation there was no very considerable
variation from the verbal account. But the deposits,
instead of 240,0001., turned out to be about 700,000/. ;
the advances made hy this Bank to its customers, in-
stead of 900,0001., were found to he 1,300,0001.;
while the stock of bank. notes and coin in the posses-
sion of the Company, instead of 190,0001., was shown
to amount to no more than 100,0001., or little more
than the half of what had been alleged. The upshot of
the matter was, in short, that, the bank of England
having already advanced 500,000!., to prevent the
stoppage of the Northern and Central Bank, found
that it had done nothing towards the accomplishment
of its object unless it was ready to double that amount.
In these perilous circumstances, the Bank of England
adopted the liglder, and we believe, the wiser, course.
It expressed 'its readiness to advance the second
half-million, but only upon the conditions that
the affairs of the Northern and Central Bank
should pass out of the hands of their present ma-
nagers into those of the Bank itself, that no new
engagements or accounts of any kind should be en-
tered into until every existing claim on the part of
the public, as well as that of the Bank of England
itself, had been fully liquidated ; that the order of li-
quidation should be—the public first, the Bank of
England second ; and that, until these two parties had
been taken care of, the account between the Northern
and Central Bank and its London agents should re-
main untouched. To these conditions—conditions
which cannot but be regarded, in the circumstances of
the case, as both equitable and necessary—the London
and Northern Bank promptly acceded. Between that
establishment and the Bank of England the treaty was
concluded ; and it was the former exclusively which had
to treat with the London and Westminster Bank, its
own agent, in order to procure that assent to the arrange-
ment which was plainly indispensable, and which it had
stipulated to produce. We cannot conclude without ex-
pressing our belief that the conduct of the Bank of Eng-
land throughout this most difficult and unprecedented
transaction will command the universal approbation of
the commercial world. The Bank has rescued the
country from the imminent risk of a great monetary
crisis, without stopping for a moment to reflect upon
the circumstance, that it was a crisis which would
have been most efficacious in discrediting and over-
throwing a system entirely adverse to its own separate
interests. In the transactions we have narrated there
is, however, enough to show that the system, under
which it is possible for such things to take place, is
one of which the suppression, or the strict regulation,
at least, is among the most imperative and urgent of
egislative duties.—Morning Post.

COURT OF COMMON PLEAS, DEO. 23.
SCOTT V. MILLER. _ .

This was an action brought by the plaintiffs, wwere
the owners of the skip Countess Dunmore, against the de-
fendant, who was the captain of the same vessel on a voy-
age to Van Dicmen's Land, to recover the sum of 196/,
being the balance of an account between them, alleged to
be due to the plaintiffs. The voyage was taken about the
middle of 183:3 ; in August in the same year the countess
Dunmore put into Rio Janeiro leaky, and it was found ne-
cessary to chalk her from the copper to the gunwale. To
'lle expense incurred in these repairs, the captain
Jew a bill upon the owners for 137/., which was accepted
iy them and paid. Upon the return of the vessel to Eng-
land, the captain retained for himself a certain sum on ac-
count of disbursements made for the use of the ship, and
other items, the whole of which the plaintiffs considered to
he too large in amount. The present action was accord-
ingly brought to recover the sum by which the captain had
exceeded his fair and proper demand. The defendant
pleaded a set-off in the nature of provisions and repairs for
the ship, advances of wages to the seamen, and of primate
at 5 per cent. upon the freight. The two items of the
account that were disputed were, the' repairs done at Rio
Janeiro in August, and the primate upon the freight.
After witnesses had been examined on both sides,
The LORD CHIEF JUSTICE summed up, and
The Jury returned a verdict for the plaintiffs—
Damages 125/.

COURT OF BANKRUPTCY, Dxc. 23.
JOHN WARD'S BANKRUPTCY.
The second meeting of the creditors wider the fiat issued
against Mr. John Ward, of Woolwich, banker, was held
to-day for the proof of debts, and the first examination of
the bankrupt. It was intimated to the Commissioners
that the bankrupt had not yet been able to complete his
balance-sheet, and an adjournment of the final examination
was granted for a month. The claim was renewed, to
prove a debt for deposits with the bankrupt by a Friendly
Society, the articles of which had not been enrolled.
The Court was informed that at a meeting of the mem-
bers of the society, the secretary had been deputed to prove
for the debt claimed, the bankrupt himself being the trea-
surer of the institution.
The amount of proofs to-day were considerable, but
chiefly upon notes of the bank in circulation at the time
the failure occurred. A dividend will, it is expected, be
declared at an early period.

PALACE COURT, DEC. 23.
WATTS V. CHAPHAM.
This was a writ of trial sent down to this Court for hear-
ing from the Court of King's Bench, in which Mr. Chad-
wick Jones was specially retained for the plaintiff. Mr.
Gazelee, one of the Counsel appointed by this Court, was
retained for the defendant.
Previous to the jury being sworn,
Mr. GAZELEE objected to hearing foreign Counsel. He
contended that as the Counsel who pleaded in this Court
were authorised so to plead by charter, it was unprece-
dented to admit foreigners to plead. He referred to se-
veral cases in which the right had been admitted, and par-
ticularly one in a County Court, in which certain penalties
had been incurred by an attorney for practising in that
Court. The writ in the present case did not alter the
character or constitution of the Court. It was an impor-
tant question as affecting vested rights, and therefore he
contended that the Judge was bound not to listen to the
Learned Foreigner.
The Learned JUDGE was aware that the moment the
writ of trial came down objections would be raised, and
therefore he had consulted with Mr. Brent, the Supreme
Judge, and from him he had received instructions as to the
introduction of foreign Counsel, if they made their appear-
ance. There was no doubt that in cases originating in this
Court, Counsel specially appointed had the sole audience
here. But by a late Act of Parliament the Judges of the
Superior Courts were entitled to send down cases for trial
to any of the Courts of Justice. The impression on the
mind of Mr. Brent was, that, as ministers of a superior
Court, he was bound to try the case. As his deputy,
therefore, he was merely fulfilling the instructions which he
had received.
The case was then proceeded with, but the facts were
wholly uninteresting.—Verdict for the defendant.

LAW INTELLIGENCE.

COURT OF CHANCERY, DEC. 23.
LORD PETRE V. THE EASTERN COUNTIES RAILROAD

COMPANY.

Mr. KNIGHT, on the part of the noble plaintiff, applied
for an injunction to restrain the defendants from entering
on his Lordship's lands, or those in the occupation of his
tenants, and also from summoning any jury to assess com-
pensation for any injury to those lands through the means
of the contemplated railroad. The line proposed by the
Company to be carried into effect, passed through nearly
seven miles of the property of Lord Petre, and even farms
occupied by nearly four hundred tenants. When the Bill
was passing through the House of Commons, the defend-
ants were apprised that Lord Petre would oppose it, and
a negotiation being entered into with his Lordship's agent
and solicitor, it was agreed that a sum of 120,0001. should
be paid by the Company, in consideration of the injury
which the railroad would inflict on his Lordship's property
in Essex. The Bill accordingly passed through both
Houses without any opposition on the part of Lord Petre ;
but the Directors having obtained the sanction of the
Legislature to the line of road which they proposed, now
refused to fulfil their contract, and served a notice on his
Lordship's solicitor that the contract itself was illegal.
They proposed, however, to give his Lordship such com-
pensation as a jury might award for any damage done by
their works to the lands in the occupation of his Lordship
or his tenants. The defendants had actually commenced
their works, and, as it was feared that before the end of the
vacation they might enter on his Lordship's lands, the in-
junction was asked for his Lordship's protection. By one
of the clauses of the Act of Parliament the Company were
bound to give seven days' notice of their intention to sum-
mon a jury to award compensation ; but as that period
would not cover the time of the holidays there was an ad-
ditional reason for the present application.
The injunction was granted, with liberty to the defen-
dants to move the Vice-Chancellor to dissolve it.

INSOLVENT DEBTORS' COURT, Dec. 23.
In a case heard to-day a curious disclosure was made re-
lative to the getting up of the Bill for the abolition of impri-
sonment for debt, and also as to the ignorance prevailing on
the subject of debtor and creditor, a law which, it has been
frequently remarked, is less understood than any other.
A creditor in a case complained that he wanted time to
get up his opposition. He admitted that he had not seen
the schedule or read the notice he had received. The Corn-
missioner desired him to read the notice, and it appeared
that he might have examined that document for three
weeks. He suggested that creditors should put their ad-
dresses in the opposition book.
Mr. Commissioner HARRIS asked him if he had done so ?

The creditor confessed he had not.
The Learned CHIEF COMMISSIONER said the creditor
was no doubt ignorant, like many others, of the principal
features of the law, and asked him if he knew that if an
insolvent concealed property above the value of 201., and
if found guilty of a misdemeanour, he would be sentenced
to three years imprisonment and hard labour?
The creditor said " No."
CHIEF COMMISSIONER—Did be know tnat if the dis-
charge of a man was improperly obtained, it could be re-
voked, the party re-committed to prison, and if a conceal-
ment was proved, he could by this Court he remanded for
three years ?
The creditor answered " No."
Chief COMMISSIONER—Did he know that the future
property of an insolvent was always liable for his debts ;
and that in many cases creditors were paid in full ?

VICE-CHANCERY COURT, DEc. 23.
JOMBART V. WOOLLET AND OTHERS.
Mr. KNIGHT moved for an injunction to restrain the de-
fendants from distributing among the creditors of Joseph
Woolett, of Gould-square, Minories, a merchant, who
traded under the firm of Woollet and Son, two sums of
1,0001. and 501., which were the proceeds of hills of ex-
change that the plaintiffs had remitted to him. The sim-
ple question was, whether Woollet was at liberty to take
the bills as cash, and discount them, and carry the amount
to the plaintiff's general account, or ought to have held them
for the plaintiff until due, and have then applied the pro-
ceeds ? The plaintiffs being French merchants resident at
Lisle, in July and August last had hill transactions with
Woollet at London, the nature of which they alleged to
be that Woollet was their London banker, or commission
agent—that they drew upon him several bills in favour of
various persons, which he accepted—and that to cover these
bills, and enable him to take them up as they became due,
they remitted to him other bills upon various persons, which
they had purchased and which he received. Woollet dis-
honoured all his own acceptances, except one for 53/., and
of those remitted to him for taking up these acceptances
he discounted or sold all, except two bills for 1,0001. and
501., which remained still in his hands at the time of his in-
solvency, on the 24th of October last. The plaintiffs
offered thereupon to take up all his outstanding acceptances
for them, and demanded back their own bills which existed
in specie. Wodet was still indebted to them beyond the
two bills in a large sum. The question whether the plaintiffs
were entitled to the two bills turned upon the corres-

Creditor—NO.
The Learned COMMISSIONER said it was astonishing to
witness the misunderstandings respecting the law of the
Court ; and yet those who knew the least were most loud
in the abuse of a measure which extended every possible
advantage. Creditors would do well to attend to their
interests, and not immediately they received a notice to
give up the debt as an entire loss.
Mr. COOKE said, when the alteration was first proposed
on the subject of imprisonment for debt several gentlemen
met, to introduce some salutary clauses respecting future
property, &c., and the measure was approved of by the
gentlemen who had the management of the Bill, when to
their surprise, they found the clauses they had inserted had
been passed into a law many years ago.
The CHIEF COMMISSINONER, smiling, said it was easier
to suggest than to read.
Mr. Coot( thought those who attempted to amend the
law should know what was in existence on the subject.

pondence.
Mr. \VIGRAM was Counsel for the defendants.
His HONOUR shortly delivered judgment, and said it
really appeared to him the plaintiffs must have meant to
have credit for the full amount of the bills, not as discounted,
but as received when due. In the letter of the 13th Oc-
tober, transmitting bills for 550/. not due, and 10/. at sight
(which was answered on the 17th), they spoke precisely in
the same manner both of the sums payable at sight, and also
of the two bills thereafter to be due. The plaintiffs were
therefore entitled to have their bills buck, and the injunction
must be granted.

COURT OF KINGS' BENCH, ppd. 23.
LENNOX V. DESBOROUGII, SECRETARY.
This was an action on a policy of insurance effected by
the plaintiff, Lord George Lennox, upon the life of Lieut.-
Colonel Greswolde, late of the 6th, or Inniskillen Dragoons,
who died on the sth of January, 1833, and the cause of
whose death was alleged by the plaintiff to be cholera, and
by the defendant to be epilepsy. The sum insured upon
this policy amounted to 2,5001., and the insurance was
effected in the Atlas office in the month of August, 1831.
The defendant was the secretary of that office. This was
only one of several policies effected on the same life, and a
case was tried about a year ago in the Court of Exchequer
upon one of these policies, at the suit of a Mr. Challock.
The defence in the present case consisted chiefly of two
points, that the deceased had indulged in habits of intem-
perance, and that he had been afflicted with epileptic fits,
and that neither of these circumstances had been duly com-
municated to the defendant, but that, on the contrary, the
!ilia plaintiff
ordinary forms of policies in the
odeclared that the deceased was iiot subject to
netsi)ff
had (ad op t (adopting the
fits, and was of temperate habits.
Lord DENMAN summed up the case, and said the ques-
tion was, whether the plaintiff had so complied with the
undertaking in the policy as to entitle himself to recover in
this action. The policy contained this stipulation on the
part of the assured, that the person whose life was insured
" is not, and never has been, afflicted with asthma, or with
fits, nor with any disorder tending to shorten life," So far
as the testimony of the witnesses for the plaintiff went, it
was clear that they knew not of Colonel Greswolde having
any such affliction, but it was still a question whether the
witnesses for the defendant, who, as servants, had had a
better opportunity of seeing the real state of the health of
their master could not be depended on. If their evidence was
deserving of credit, then the deceased would appear to have
been afflicted with epileptic fits.
The Jury returned a verdict for the plaintiff upon all the

THE SUN, LONDON, SATURDAY, DECEMBER 24. 183

MONEY MARKET.

CITY, FRIDAY EVENING.
The attention of the moneyed and commercial interests has
to-day been directed principally to the negeciations in progress
between the Bank of England and the Northern and Central
Bank, which it is known this evening have at length been
brought to a satisfactory conclusion, arrangements having been
finally made for winding up the affairs of the latter upon
the basis proposed in the first instance by the Bank of Eng-
land. That this important business should have been disposed
of with so little difficulty cannot but prove highly gratifying
to parties residing in those districts where the Northern and
Central Bank and its branches have been established. We
may hope that it will tend in a very material degree to
restore confidence in the metropolis also, and, indeed,
throughout the country. It is sufficiently notorious that, as
the London and Westminster Bank had a heavy claim on the
Northern and Central, for advances made them in the ca-
pacity of town agents, they offered some resistance to the mode
of settlement proposed to the managers of that concern by the
Directors of the Bank of England, and one of the tumours of
the day was, that the whole question had in consequence been
referred to the decision of Mr. John Masterman ; but we be-
lieve it was only on some minor point of difference that that
gentleman was appealed to. Of this we are at all events as-
sured, that any understanding which may have been come to
between the London and Westminster Bank and others, acting
for, or on behalf of, the Northern and Central Bank, is one
with which the Directors of the Bank of England have nothing
whatever to do, and that they have adhered strictly and lite-
rally to their original proposition. Guarantees are said, how-
ever, to have been given by other parties, friends of the North-
ern and Central, for the gradual liquidation of the claim of the
London and Westminster Bank.—Morning Post.
As faithful chroniclers of the events which occur in the
City of public interest, we had yesterday to announce the
abrupt termination of the treaty which had been in a course
of negociation for several days past between the Bank of Eng-
land and the Northern and Central Bank at Manchester, for
affording relief to the latter in its present embarrassments.
With equal confidence, and with much greater satisfaction,
we can now state that the negotiation was this day renewed,
and that the Northern and Central Bank having been enabled
to overcome the objections made by the London and West-
minster Bank to the proposed arrangement, and to obtain
their concurrence, the terms were, late in the day, definitively
arranged, upon which the Bank of England will furnish ample
means to meet all the liabilities of the joint stock establishment.
About three o'clock in the afternoon the bills of the North-
ern and Central Batik which fell due to-day were paid by their
London correspondents, and at a somewhat later period ac-
ceptances were given to those which had been left.
The Foreign exchanges this afternoon present a rather
more favourable appearance than on Tuesday last ; there is no
alteration of any importance in the quotations, but there is a
somewhat more active market.—Chronicle.
It seems that the statement of yesterday, on the subject of
tha negotiation between the Northern and Central Bank and
the Bank of England, was premature, a difficulty having been
started at the moment when all the arrangements were consi-
dered complete by the managers of the London and West-
minster Bank. At the time when the assent was given by
the Bank of England to the first advance, which was to the
extent of 500,0001., it appears that the consent of the London
and Westminster Bank had been obtained to the postpone-
ment of their claims until the sum above named had been re-
paid ; and it was concluded, that having adapted this view of
the case in the first instance, there would be no objection to
the same course in regard to the further advances which were
solicited. An absolute refusal of assent to take the same position
under the new advances was however sent into the Bank parlour,
and the negotiation, in the very process of completion, was there-
fore broken off, the Bank positively refusing all advances except
upon obtaining an absolute preference over all other claims.
As soon as this transpired in the city, the private bankers and
others who had made all their arrangements under the impres-
sion that all the advances required would be made to the Nor-
thern and Central Bank, were compelled to suspend them.
All acceptances which had been placed upon bills drawn by
the Northern and Central Bank were cancelled, and parties
presenting bills for payment were desired to call again in the
afternoon, as a hope was entertained that the London and
Westminster Bank would be induced by that time to with-
draw their opposition, and to allow the promised advances to
be made. 'f he greatest anxiety prevailed in the city among
the parties more immediately interested during this interval,
but until three o'clock there were no indications of a settle-
ment of the dispute. Shortly after that time, however, the
bills, the payment of which had been postponed, were taken
up, and it followed immediately, almost as an irresistible
conclusion, that some agreement had been come to. The
manner of it is said to be this—that the London and West-
minster Bank obtain the personal guarantee of certain
wealthy shareholders of the Northern and Central Bunk for
a portion of their claims, by which means they will secure an
earlier payment than if they had waited for the winding up of
the whole concern under the management of the Bank, which
is the course that the affair will now take. Of the amount
that will be required for this purpose nothing is accurately
known, but it must he extremely large, so as to place the Bank
of England under a very serious responsibility, with every al-
lowance that can be made for the various assets, and means of
recovering property which may be placed at their disposal.
For the money market generally a great and certain relief has
been effected. Many persons, up to a late hour in the after-
noon, were not without apprehensions of some new difficulty
being started to the arrangement, but we are assured, on what
we consider the best authority, that there only remained the
formal execution of that agreement to which all parties had
previously come, and that it will be signed in the course of the
evening.—Tines.