The Sun.
London, England, 1847-10-22 00:00:00

THE SUN,

Mr. Mon. admitted that he was interested in the
Porthdynllaen line, but said that Mr. Archer had
ceased to have an interest in it; or any connexion with
him, however, he disavowed. He did not wish to oppose
the wish of the shareholders, but he besought them
to adopt an alternative, namely, the probability of
an offer of an eligible nature from some other com-
pany. If no offer was made, he would not oppose
their wish, but he would advise them to allow the
company to dissolve in the natural course—by the
expiration of the Act. He looked upon Porth-
dynllaen as one of the most important ports in that
part of the country.
A SHAREHOLDER, a barrister, said as Holyhead
had been fixed upon as the port for that part of the
country, and as the traffic on their line would
simply consist of slates ; and as the landowners were
against it, he advised them at once to dissolve. They
might, in his opinion, divide the money, taking the
not of hand of each shareholder; or they might
seek a bill to the ,value. The opposition of Mr.
Archer, or any one else, would be estimated by a
Committee of the House of Commons. This gentle-
man cited several instances in which a similar course
had been adopted. He was not in favour of waiting
for any offer, except it was made in cash.
Mr. SPACKMAN also urged the dissolution of the
company, and considered that the opposition of such a
person as Mr. Archer would weigh but as a feather
in the scale against the wish of a body of share-
holders.—(Hear, hear.) He would be taken at his
value. They might be sure that the Government
would ere long bring forward a proposition to put an
end to 9-10ths of the railways—(Hear, hear)—they
would thus liberate the money of the country and
prevent the public creditor from being cheated.
The resolution was then unanimously adopted.
After considerable discussion of a personal and
libellous nature, relative to the proceedings of Mr.
Archer and his solicitor, Mr. Shaw,
A vote of thanks and confidence was passed to the
Chairman, the directors, and the secretary, and the
meeting broke up.

BANK OF ENGLAND.
(From this night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32, for
the Week ending on Saturday, the 16th day of October, 1647.
mans DLPAILTYINT.

Notes 155uti........ 21:6'89,600

Government debt .. 11,015,100
Other securities .. .. 2,984,900
Gold coin and bullion 6,899,485
Silver ballloa .• .. • • 1,090,118

£21,989,600

I .£ 21,989,600
M. MARSHALL, Chief Cashier.
1847.

Dated the 21st day of October,

BANKING D'
4.
Propeetors' capital.. 14,553,000
Kest • ...•.. . • . . . 3,495,432
Public deposits (in-
elading Exchequer,
Commissioners of
National Debt, Say-

,AITILEN T.

Government securi-
ties (including Dead
Weight Annuity). . 11,088,877
Other securities • • 18,963,326
Notes • • • • • • • • • • • • • • 2,630,115
Gold and silver coin.. 441,1G0

ings-banks, and Di-
vidend accounts) .. 5,496,883
Other deposits .... •. 8,674,584
Seven day and other
bills .... ...... .... 903,519

£33,123,411

233,123,418
M. MARSHALL. Chief Cashier.
1847.

Dated the 21st day of October,

COURSE OF EXCH.
Amsterdam ..........12 12
Ditto, at sight ...... 12 8
Rotterdam .....• • . 12 12
A. itwerp ..... ......... 26 45
iiamhurgh 14 II

LNGE.-(THIS DAY.)
Gibraltar.. • • ....•• •...
Leghorn ........ • ..... 31 50
Genoa ..... ..... .... 26 45
Milan .. —.. .. . • • •• •.

Naples .. . • • • • • • • • 383 i
Palermo, per 0z.... 1181.4
Lisbon.. . • • . . • • • • .. 51
0p0rt0.... • • • • • • • • • • • • hl
Rio Janeiro • • . •• 24
Buenos Ayres • •

rads, 3 days' sight ...: 26
Ditto, • . •26 35
Nfarseilles ....... .. • . 26 45
Gourdeaux ......... 26 45
Frankton on Maine.... 12534
Petersburgb, 3178.... • .
........

New York, 21 days' sight

Vienna, effec.flo•••• • • 10 22
Trieste, ditt0........., 10 23
Madrid .... • ..... 46

Philadelphia .. •-• ....

?BICE& OF BULLION, PEI OE.
Foreign Gold In bars.. £3 17 s

Cadiz 48
Barcelona .-
Saville.. .. • .

_
New Dollars •••• •• 0 4 9?-i
Portugal Gold Coin .. • 0 0
Spanish Doubloons .. 0 0 •
Silver In bars ........ • 4 11%

GLORIOUS NEWS FOR BIRKEN

HEAD.

ADVANCE OF MONEY BY GOVERNMENT.
The tide of fortune is again setting in towards
Birkenhead. The docks, and the important works
connected therewith, which were almost spurned
by the Liverpool Dock Committee, the other day,
are about to be completed at Government expense.
Yesterday, a proposal was received from Govern-
ment. The Dock Commissioners were summoned
at three hours' notice, and thirteen of them attended
a meeting at three o'clock. At that meeting the
proposal of Government was laid before them. It
is to this effect :--The Government is to resume
possession of the piece of made land on the north
side of the entrance to the great float, and on con-
dition of that land being recovered to the Commis-
sioners of Woods and Forests, they engage to pay the
expense of completing the sea wall, reserving to them-
selves the right of making any use they think fit of
the land, and to make as many slips and sluices as
they may require. It is supposed that this stipula-
tion is male with the view of converting a portion of
the land into an arsenal.
The amount already expended on the sea wall is
21,000/., and it is estimated that, to complete it,
44,0001. more will Le necessary. This amount Go-
vernment offers to give, on the conditions above
named ; and, in addition, to advance 150,0001. for
the purpose of finishing the great float and embank-
ments, so as to bring the dock into condition for
business : not to do all that was planned by Mr.
Rendell. The Government are to receive, in part,
as collateral security, township bonds to the amount
of 55,0001.
It is further proposed to remodel the Trust by an
Act of next session. Instead of the present board, the
Dock Trust will be placed under the direction of
thirteen commissioners, six to be elected by the rate-
payers of Birkenhead, three by the rate-payers of
Wallasey, three by the dock bondholders, and the
Government to have the right to nominate one, who
shall be chairman of the board.
We understand that these proposals met with
general concurrence, and that a favourable answer,
signed by ten of the commissioners, was dispatched
to London last night. The reply of the Government
is expected in a few days, and then the bargain may
be said to be complete.
This will, indeed, be glorious news for the land-
owners and others interested in property in the
splendid, but at present almost deserted, town of
Birkenhead. We may expect now to find the town-
ship every day improving, and we hope the day is far
distant when any further check will be given to the
increase of the trade and commerce on either side o
the Mersey.—Liverpool Mercury of this day.

REPORTED STOPPAGE OF THE
NORTH AND SOUTH \VALES BANK.
TO THE EDITOR OF THE SUN.
London and Westminster Bank, Lothbury,
Oct. '22, 1847.
Sir,—A report having been circulated in the City
respecting the North and South Wales Bank stop-
ping, I beg leave to say it is without foundation.
I am, Sir, your obedient servant,
W. S. lIIGLEY.

SUSPENSION OF THE NEWCAS-
TLE UNION BANK.
We regret to announce that the Newcastle, Shields,
and Sunderland Union Joint-stock Bank has been
under the necessity of yielding to the pressure of the
times, and suspending payment. 'This event took
place on Thursday morning, when, it would seem,
some assistance from the South had been expected,
for on the receipt of the London letters without the
required aid, the managers came to the determination
of suspending, and accordingly about twelve o'clock a
notice, of which the following is a copy, was posted
on the door :
" The Union Banking Company, in consequence
of the extreme difficulty in obtaining discounts, are
under the painful necessity of suspending payments.
—October 21, 1847."
The intelligence quickly spread through the town,
and the bank was soon beset by the holders of
their notes, who continued to crowd the street
during the hours of business. This bank has for many
years carried on a very extensive business in this
town. It was commenced by the Messrs. Chapman,
and continued as a private bank until 18;36 when it
was converted into is Joint-stock bank, under the ma-
nagement of IV. Chapman, Esq., as General Director,
assisted by a Board of seven Directors, chosen
annually by the shareholders. It has always issued
notes, and for some time has been the only local
bank of issue in this town. According to the
Act of 1844, its issue was not to exceed 84,1301.,
and we see by the last return published in the
Gazette, that its average circulation for the
week ending October 9, was, 75,005/. The shares
of the Bank were of the value of 101. each, one
half of which is paid up ; and according to the list of
shareholders, published in this paper, on the 19th of
4,sl.rualYlast, the number of shareholders was then
The bank has branch establishments at Aln-
wick, Berwick, Durham,
ander
oal vi
;North Shields, South
pr o
s hasp u
Shields, and Sunderland
Acyonscehrarili the
ianp -
pearance of being a very
never, we believe, since it g
bank, divided less than ten became a joint- stock
At the annual meeting of the psehr
recent. per annum.
25th of July last, the followianholders, held the
sented by the directors, and adopted g report was
pre-
ing :
by the meet-
" The net profit of the past year, after paying all
current expenses and the income-tax, and
placing
a sum to the bad-debt account, amounts tog
20,5081. 6s. 7d., on which the directors paid a divi-
dend at the rate of 10 per cent. per annum for the
half-year ending 31st December, 1846, and they now
recommend a sinai'ar dividend to be declared