The Sun.
London, England, 1847-10-30 00:00:00

ri 1.4 II SUN, LONDON, SATURDAY _ EVENING-, OCTOBEr L 80, 1847.

FLANDEPS MAIL.

SPORTING INTELLIGENCE.

Mumcrt, OCT. 20.—The Chamber of Deputies is
now occupied with the important question of the
abolition of the lotteries. A motion to this effect
was adopted on the 18th unanimously, and without
discussion. The Minister of Justice announced that
the works of the codification were so advanced that a
new and complete code for Bavaria, with verbal and
public discussion of the judicial debates, might be
presented to the session of the Chambers in 1848, or
at latest 1849.
At the close of the sitting Baron de Closen, one of
the principal members of the Chamber, in a long dis-
course appealed to the sympathies of the Chamber for
the Duchy of Sleswig-Holstein, upon which all the
Chamber rose in order to testify that sympathy.
The Chamber of Senators deliberated on the 19th
on the motion of Count Schenk Von Schaufrenburg
that for the future, in the returns made, the members
should be designated by their names. The chamber
adopted this motion unanimously, and as this matter
has reference to a regulation of which the chairman
is sovereign judge, the motion will be immediately
put into operation. The Princes of the Royal
Family took part in this vote.
HOMBURG ON THE HILL.—At Homburg on the
Hill the iniquitous game of hazard flourishes in the
utmost perfection.
COPENHAGEN, OCT. 18.—The Crown Prince has
had a very narrow escape during a drive to Fried-
ricksgure. The horses took fright and ran away, the
pole of the carriage was broken, but happily neither
his Royal Highness nor any of the attendants were
hurt.

NEWMARKET HOUGHTON MEETING.
FRIDAY.
Match, 200, h ft. A F

Mr. G. H. Moore's Watchdog, ist 71b (Nat), beat
Mr. W. H. Johnstone's Rough and Ready, Bst 71b.
Mr. Johnstone paid forfeit in town about half•past
twelve, but no intimation to that effect having been given
to the trainers, the horses were started, and Watchdog,
on whom 2 and 3 to 1 was laid, won by a neck. A
question will come before the stewards, as to whether,
under the circumstances, it is to be considered a race.
Match, 100, h ft. A.F.
Lord Caledon's Wanota, Bst 71b (Nat), beat Mr. Sand-
ford's Kimbleswortb, Bst 71b.
Even betting. Won by three lengths.
Handicap Sweepstakes of 20 sovs each ; 5 ft if declared,
for three yrs old and upwards; the second to re-
ceive the forfeits. T.Y.C. (12 Subs., 7 of whom de-
clared.)
Mr. Walter's Pottinger, 3 yrs, Est 61b (Tasker) 1
Mr. Rolt's Collingwood, 4 yrs, 9st ... 2
Lord Chesterfield's Lady Lurewell, 3 yrs, 6st 41b 3
Mr. R. H. Nevill's Duc-an-Durras, 5 yrs, Sat 111 b ... 4

Betting-6 to 4 agst Lady Lurewell, 2to 1 agst
Collingwood, and 3 to 1 agst Pottinger. Pottinger made
all the running, and won easily by a length. Run in
1 min. 15 secs.
The Nursery Stakes, of 25 sous each ; for two yrs old.

BERLIN, OCT. 20.-VISIT OF THE EMPEROR OF

Russia.—lt is generally reported that his Majesty the
Emperor of Russia will visit our capital in a few
days, that is to say as soon as the King returns from
his excursion on the chase in Brunswick. It is said

that a superintendent of police has already been
dispatched to make the necessary precautionary
measures on the arrival of the Emperor. Another
police officer is gone on a different mis •
sion, having been dispatched to London in
pursuit of a merchant's clerk, who has decamped
wish a considerable sum of money. As there is no
convention between England and Prussia for deliver-
ing up of delinquents, it is to be hoped that the money
may be found upon his person, since other wise he
would escape.—Brussels Papers, Oct. 28.
STATE OF THE RUSSIANS AT SALINA H.—The
exact position of the Russians in the Lower Danube

is perhaps not generally known, and therefore a few
facts on this subject will be read with interest. From
Rein, and indeed from Galaex, on the left bank of the
Pruth, Cossack posts are ranged along the Danube,
and from Tucskow, where the arm of the Salinah
properly begins, they form a complete connecting
chain, the links of which are even more
secured than those of the Austrian boundary
cordon. Upon this line there are eighty Cossack
posts, which consist of at least 1,200 men, for even
the smallest pickets are four or five men strong.
They are so closely placed, that their distance from
each other is generally ten minutes or less. As a
rule, each post has it blockhouse, around which
there are generally ten or twelve huts. A well
kept road unites the isolated posts, and in each of
the numerous embankments of the area of the river
a ferry is in waiting, and as the whole Delta is inun-
dated at every high tide, communications in general
are carried on by these ferries. Against this line of
Cossacks nothing can be opposed, for they have gar-
risoned the left—the Russian shores. The right
shore, on the other hand, is called neutral, as far as
St. George's Channel ; yet, notwithstanding this, nine
Russian gun-boats are ranged along the right shore,
under the pretext of better stations. Appa-
rently they will only be there at anchor,
but, in truth, a little colony of several huts is formed
round each. It is true that these ports have hitherto
paid every honour to the Austrian flag, and as Lloyd's
ships bear the Austrian port's flag, and likewise the
black fiammetta of ships of war, the Cossacks pay
military honours to them also. The ships are not
detained at the mouth. The thirty houses, which
form the village of Salinah, which is built
upon poles, like many villages, and the Dutch
coast are quickly passed. On the right of the
bank is the new light-house of Jeni Fanal. Since
the summer of 1836, Russian war-steamers likewise
go off from Galaez to Odessa ; from these, signals are
placed along the entire arm of the Salinah, and the
Barri of Bogen ; but as soon as ever they have passed
the red baskets or wood which have served as
the signals are removed. Hence, on the ra-
pids of the Barri, especially the wrecks of
numerous vessels give constant indication of
the danger of passing ships. On the spot where the
Czar Nicholas crossed the Danube a Greco-Russian
church has been rented. Near Varna, also, on the
sea coast, a Russian church stands on a projecting
rock, with two popes upon it. This indicates the
place where Nicholas had his camp, and perhaps the
two popes may be praying for his speedy returns and
on going through the Bosphorus the most striking ob-
ject that presents itself is the palace of the Russian
Ambassador. It stands conspicuous like a fortress with
Montalambert towers. The inhabitants of Stamboul
maintain that these towns are erected for cannon,
and that immense powder magazines are there con-
cealed under ground. This assertion appears to be
borne out by the massy foundation of the solid stone
building. The view from the platform of these
towers is magnificent, but it is difficult to divest one-
self of the idea that there is not only ample space,
but ample solidity, for several six-pounders.—Dutch
Papers, Oct. 28. •

MAASTRECHT, OCT. 28.—M. P. Regout, of this
town, has received permission from the King to open
a gas-manufactory as well for his own establishment
as for the benefit of private and public buildings. He
has at the same time received a patent for the Nether-
lands, Belgium, and France, for the extension of this
improvement in the mode of lighting, by employing
glass-pipes instead of iron, which are still in use. The
Liege Gas Company has for some months made a
trial with the glass-pipes in one of the most fre-
quented streets, and the result has been highly
satisfactory. . _

The average price of wheat in the week ending
Oct. 26, was 22f. 26c. ; rye, 16f. 63c., being a
fall in wheat of 2f. 24c., and a rise on rye of 71c.
Brussels Papers, Oct. 27.

SUICIDE OF A MERCIIANT.—Last evening an in-
quest was held at the Fountain, Red Cross street, before
Mr. W. Payne, on the body of Mr. John Henry Deffell,
aged 70, merchant, of Billiter-square, and 38, Upper
Harley-street, the particulars of whose death by taking
prussic acid in a surgeon's shop in Whitecross-street, we
gave yesterday. Mr. Joshua Southall, surgeon, said he
had no doubt the deceased died from the effects of prussic
acid. The mere inhalation would have been sufficient to
kill him. David Sims, clerk to the deceased, said that
for several weeks past he had observed a vast change in
the deceased's manner. Ilis conversation was strange,
and he made many errors in his letters. Ile regretted
the failures in the City but was not affected by them,
and had a large balance at his banker's. Mr. G. Deffell
said the deceased, his father, had lately suffered from
the depreciation of the value of colonial produce, and
expressed his great concern at the state of affairs pre-
vailing in the commercial world. Verdict—" Temporary
insanity."
THE FATAL FIRE IN SOMERS TowN.—Yester-
day Mr. Mills held an inquest at the Elephant and
Castle, Agar Town, on the body of Isabella Mackay,
aged 75, who lost her life in a fire that took place at 97,
Drummond-street, on Thursday morning, and which
was reported in The Sun of Thursday. The daughter
of deceased stated that about two o'clock on the morning
in question, Mr. Lawson, a newsvender, who rented the
ground floor, and Mr. Alden, a lodger, came to her room
and aroused her by an alarm of fire. She was sleeping
with her mother, who was so unnerved by the alarm that
she was unable to accompany the witness, who had not
strength to remove her. bile ran Oown stairs tor as-
sistance, and by the time she had obtained it the smoke
and fire had made so much head, that neither she nor
the persons willing to assist her could reach her mother's
room. The consequence was the death of the deceased.
Evidence having been given to show that the fire was
not wilfully caused, a verdict of " Accidental Death"
was returned.

POLISH BALL AT THE GUILDHALL.--The Com-
mittee for conducting this entertainment met yesterday,
and the attendance of members who take a deep interest
in the cause of Poland was very considerable. In the
absence of Deputy Peacock, the chair was occupied by
Mr. George Selson, who was appointed treasurer. It
was agreed that the ball and concert shall take place on
Wednesday, the 17th November, and that the superb
decorations which are being fitted for the Lord Mayor's
festival will be used on that occasion. Lord Dudley
Stuart then announced that ho had received promises of
support from several distinguished artistes at the con-
cert, and of many of the nobility who have already
granted their patronage. Amongst them were the names
of her Royal Highness the Duchess of Kent, and of his
Excellency James Brooke (Rajah of Sarawak), the
latter personage having kindly promised to attend the
ball. Mr. Nott expressed to the committee the high
satisfaction which the Polish ball, independently of its
great attraction and the good it produced to the object
in view, afforded, in the opportunity thus presenting
itself to the citizens of London to treat their families in
a splendid manner at so moderate a charge, and in the
benefits necessarily arising out of it to all fancy trades.
After several observations from other members in strong
recommendation of the object of the entertainment, and
an assurance upon their part to use every exertion to
promote the success of the undertaking, the committee
adjourned to Wednesday next.
INCREASE or BUSINESS IN THE PALACE COURT.—
Yesterday there were forty-four cases in the list of this
court, of which seven were issues. The business has
greatly increased since the operation of the County
Courts Act. It is expected that some alterations will be
made in this court—that it will either be placed on the
same scale as the New Courts, or considerably altered in
respect to the expenses now charged to the suitors. It
is the only court in the metropolis in which actions can
be brought for sums under 201. besides the New Courts,
where parties resido within its jurisdiction of twelve
miles. In addition to the host of causes, there were
yesterday a number of summonses under the Small
Debts Act.

ceedings, and only a limited business has been trans-
RAIL WA Y
acted. The sales amount to only 150 puns at is 8d to INTELLIGENCE.
Is 9d proof strength. Although Jamaica can be
obtained at a reduction on previous rates of ld •
to 2d per gallon, still all kinds have been ter lay, at i special
Radley's Hotel, 'Thackfriars
operated in with caution by shippers as well as
file home trade. The total sales since this day week s mi
eP eStiltlsrgi of il
thAisNCDom Bpaijnyi-n(., pursuant
was held
to a
es.
Tee
,uisition to taka into consideration the provisional
agr
____.e.eznent for a lease of the Norfolk Railway.—Mr,
are only 140 puns—plain quality 33 to 35 per cent over 3 •‘,l-% Cobbold in the chair.
proof at 3s 7d to 3s sd, good 34 to 36 over 3s 9d to 3s .j.lie SECRETARY having read the advertisement and
tod, and a small parcel of fine 36 per cent over proof 4s requiiition,
6d. In East India there has been little passing, although ll,e CHAIRMAN said, that although the meeting had
Is 7d to is 8d would be accepted for proof without cer- . beer' called on the requisition of certain shareholders,
tificate. Demerara met with little attention, and the and though it was usual in such cases
rates taken have been 3s to 3s 4d for strong sorts. that the requi-
In Havannah there are no sales to report. With all 1 sitionists should open the proceedings by stating their
sorts of Rum the market is well supplied, a further fall i ' mar case, it might be more respectful to them, if he,
1
in the value :is expected to take place, although th, ea. chairman of the company, should state as briefly
stock is not so large as it was at this time last year. The as possible the motives which had induced the board
home deliveries are yet greater than they were in the past to enter into the agreement which would form the
year, but for exportation they are still less, and prices are sill eject of that day's discussion. The directors had
lower for all sorts than in 1846 at this time. Brandy has bet n exceedingly anxious that the present meeting
been operated in with much caution by shippers and the should be postponed for a short
time, in order
home trade, although holders are willing to submit to that ; all
atnalgama-
of the Eastern Union Company was
further reduced rates. There is a plentiful supply, espc- tion parties might, when the
cially of the old landed sorts. Geneva has been only in colt,;plete, be fairly represented ; for, as this was
limited demand, and there is more desire to sell common a , 0 .eting,.s exclusively of Ipswich and Bury share-
-3s export sort at 2s 8d to 2s 9d. and fine,fit for duty, 3s to ho lair .rs,
.kSa tern Union Company shareholders
35 4d per gallon. For British Corn Spirits and Gin the
co
ilia of
demand is active. catarse have no voice. The information given
cosnmittee of shareholders, left entirely out of
CINNAMON.—The quarterly sales went off with more by • !h.!:
spirit than had been anticipated from the previous de- cc insider stion the interests of the Eastern Union
pressed state of the market, rather more than one half C nniPar,y; although be need not remind them that
0 to ag' ,cement with the Norfolk Company for a gua-
having found buyers; for Ist sort there was scarcely any
orders, and the few lots were sold at a decline of ad to r: trite e effected not merely the Ipswich and bury
61 per lb, really fine 2nd realised very nearly last sale's C Or Tally, but the Eastern Union also, which had a
c Api tal of 400,0001., and which, by the Act of Parlia-
prices, but the middling and good qualities sold at a re-
duction of 2d to 4d per lb, 3rd sort and broken twain-
met at would in a very short period, be formally
tamed previous rates. Since the sales a fair brainess
company. Another reason lgamated with this has been concluded in Cinnamon, and the rates este- atr .a
Wished thereat are maintained for all kinds. fos • postponement, and one to which he was sure
tht • meeting would attach due importance, was, that
liame.—The demand continues to be extremelTlimited
for all sorts of Russian, and prices are on the decline,_ , on e of the directors of the Ipswich and Bury Corn-
and the stock to accumulate, pal iy (Colonel Barlow), who was not at all connected
Wools—The market for all kinds is in an unfarcear- Ala th the Eastern Union, was absent from England.
able state, supplies are on the increase, whilst prices. are ' ill ith respect to the reasons for entering into the
on the decline, and much desire has been show: by arrangement with the Norfolk Company, they were
holders to realise. The public sales of Colonial Ilsadvee all aware that, :at the time it was entered into, the
again attracted but small attendance of the tz a. T prospects of railways were, in the monetary con-
here has been little disposition shown to purchase an dition of th
kiud, although merchants have been willing sellers, and th
country
much more ")
romisi
Norfolkng
submitted to a reduction on the rates of the last public n at present. At that time the
auctions of 3d to 4d per lb. Company divided seven per cent., and the di-
SALTPETRE.—HoIders of Rough have confidence and rectors of this company had no reason to doubt
refrained from submitting any to public competition this that the dividend was fully justified by the traffic.
week. There has been more desire to purchase all Assuming, then, that the traffic at the time of the ar-
kinds by private treaty, both for home consumption and • rangernent justified the payment of a dividend of seven
exportation, and the rates paid are rather above those ~ per cent.—and there could be no do doubt that it
that prevailed previously. Calcutta 6to 2 per did—the directors of this company considered that
cent. refraction selling at 29s to 30s, and 12s to 8s per the prospects of the line justified a guarantee of 7i
cent. 27s to 28s 6d. In British Refined several purchases per cent. on the capital employed on the main line,
have been made, and prices are firm at 32s sd to 335.
and from four to five per cent. on the branches; for
In Nitrate of Soda several purchases have been made at;
12s to 12s 6d per cwt. they believed that the additional per tentage would be
m
TALLOW.—This afternoon at public sale 150 boxes .ore than saved from the non-expenditure of unne-
South American Tallow sold at 44s 6d to 46s 6d; 300
cessary capital, and from securing the whole of the
,
casks Australian 37s 6d to 435; 300 casks Taganrog 42s , traffic of the district. One per cent. on a capital of a
to 445, inferior 40s to 41s 9d, and which are easier ! million would be 10,0001. a year, or about 2001. a
rates; 134 cases of old P. Y. Candle taken in at 44s t 3 week ; and they could not doubt that a unity of action
44s 3d per cwt. and identity of management would effect a laving to
Ozes.—This afternoon at public sale 67 casks of Pals a that extent. The resolutions of Parliament would
Oil sold at 27s 6d to 29s 6d for damaged. 30 tons ( if prevent them from carrying out the agreement at the
Cochin Cocoa Nut in part found buyers at 65s to 65s 3 d
.. period originally contemplated ; but he was still of
for fine.
opinion that it was advisable that the two companies
should act in harmony, and as one, rather than be at
variance, and enter into competition for the traffic.
Mr. SWAN begged, as chairman of the shareholders'
committee, to state shortly why they had troubled
the directors to call the present meeting. Some time
since the shareholders in the north entertained con-
siderable alarm as to the agreement understood to
have been entered into with the Norfolk Company.
—(Hear.) It was impossible to doubt that the di-
rectors had acted conscientiously in the matter, or
that they believed what they had done was for the
good of the company. But it was equally impossible
also to shut one's eyes to the fact that, on looking at
the amount now taken by the Norfolk Company, the
guarantee must be a losing one to this company, and
that some means must be devised to defeat it.—
(Hear.) Let them take the statement of the Norfolk
Company themselves for the last half-year. The
amount which the company would have to pay for
guarantee for a main line, at 7i per cent , on a capital
of 866,0001., would be for the half-year nearly
40,000/. ; and yet he found, from the Norfolk
Company's own statement, that the amount appli-
cable to dividend was only 23,000/.—(Hear.)
Thinking that there must be some delusion in the
case, means had been taken to call the present
meeting; and he thought it would be for the interest
of the company that the agreement should at once be
put an end to.—(Hear, hear.) He therefore begged
to move—" That the agreement entered into by the
directors of the Ipswich and Bury Railway Company
with the directors of the Norfolk Railway Company
appears to be highly prejudicial to the interests of the
Ipswich and Bury Company, and this meeting de-
clares it to be null and void.—(Loud applause.)
Mr. W. BEVERLY, of Leeds, seconded the motion.
A PROPRIETOR said he was quite unconnected with
any committee, but had come there to protest against
the peril in which his property was placed. If the
experience of the last two years taught one lesson
more than another, it was that companies ought
to avoid giving guarantees—that they should avoid
increasing their capital, or making branches which
would not pay.—(Bear, hear.) The Chairman had
assumed that the Norfolk Company would retain the
whole traffic after this company's line was open to
Norwich ; whereas lie believed that this company's
line would take away one-third or one-half of it;
and, in that case, he did not see how the Norfolk Com-
pany could pay more than three or four per cent. ;
and if this company were so infatuated as to confirm
the agreement, he believed they could receive little or
nothing from their own line.
Mr. J. B. WATSON inquired what was the propor-
tion of Eastern Union and Ipswich and Bury capital ?
The CHAIRMAN said the capital of the Eastern
Union proper, was 400,0001,, and of the Ipswich and
Bury 950,000/,
Mr. MUSKETT said that although the terms of the
agreement might not now be considered advantageous
to this company, there was at the time another com-
pany in treaty with the Norfolk ; and if the directors
of this company had not seized the opportunity of ar-
ranging, they might have been censured for apathy.
After a few further observations, the motion was
put and carried by a majority of 43 to 5.
Mr. Swale asked what money would be required to
finish the line to Norwich?
The CHAIRMAN said he might state, in general
terms, that the estimate for the line, from the junc-
tion with the Newmarket line at Hawley to Diss,
was 185,0001., and from Diss to Norwich, 365,000/.
About half the works were completed throughout.
Mr. SWAN inquired if the whole amount of the
work done had been paid ?
The CHAIRMAN said it was not. The directors
gave notice in March for certain calls to be made in
the present year ; and on the faith of these the direc-
tors had entered into some contracts.
Mr. FIELD would be glad to know the amount of
calls in arrear, as he believed that very erroneous im-
pressions existed on the subject.
The SECRETARY said the amount of arrears was
reported monthly to the board ; and it appeared that
on the Ipswich and Bury shares of 1845, these arrears
amounted in September last to 13,400/. ; while
in
October they were reduced to 12,300/. "
On ta
Nor-
wich Extension shares, the arrears were in September,
ne
51,000/. ; reduced in October to 44,0001.
beginningt include
of about 56,000?. Of course this did
last call, which had only just made.been
; of Octobermakinga
total amount of arrears at the
RAfter some irrelevant conversation,e
was
that
withthe
money market, he certainly
Mr. WaLar said, connected as he
to
nora
meet-
ing rather disposed to credit the rumours that were
afloat as to the extravagant expenditure of the direc-
,ais. ire was pleased, however, to notice the manner
in which the chairman had answered all the questions
put to him.—(Applause.) It was his intention to
move a resolution which would remove a weight of
obloquy from the chairman and his colleagues, and
inspire confidence to the public—namely, that a com-
mittee of shareholders be appointed to investigate,
in connexion with the directors, the expenditure of
the company, and to report thereon to a general
meeting:
The CHAIRMAN said his impression was—and in
this he was confirmed by the solicitor of the com-
pany—that under the requisition the motion could not
legally be put.
Mr. HANDS rose to move the appointment of a
committee to inquire into the whole affairs of the
company. It was a resolution which he thought the
directors ought not to object to, as certain reports had
gone abroad relative to the extravagance of the direc-
tors which ought to be inquired into, and, if they
were wrong, the public mind disabused of the impres-
sion they had made.
Mr. BARSTOW seconded the motion.
The CHAIRMAN stated that it was with great regret
that he found himself compelled to decline putting
the motion. Ile must, however, do so, as it did not
come within the terms of the requisition.
said
spirit,the resolutions
sw
be reelienvoetdd rtahwa
tn
the
After some discussion,
recommended would be equally advantageous
Ns
tDi lse
ciaouarlsariiillAo
to the directors and shareholders. Amongst
complaints that he had heard was the e keeping upother of
expensive offices in London, and a splendid mansion
for the secretary.—(Hear,
,hear, and " Oh, oh.")
The CHAIRMAN stated that it was quite true the
company had offices in
London, but it was also
equally true that they did not mean to continue them.
i
About three years since they had several Bills before
Parliament,and s they were compelled to take offices
in London, but no ' .
tree had been given that they would
be abandoned at the
that the secretary had apartments in the same house
as that in which their offices were situate, but he did
so on his own account and at his own expense.
Some further conversation having taken place,
Mr. BINNIE said he trusted that the shareholders
generally were satisfied with the proceedings of the

BANK OF ENGLAND.
(From last night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32, fcg
the Weck ending on Saturday, the 23d day of October, 1847.
ISSUE DTPABTMENT.

X.
N9tel issued.. •• .... 21,865,445

Government debt • • 11,015,100
Other securities .• • • 2,984.%0
Gold coin and bullion 6,745,354
Silver bullion •.• • • • 1,120,01,-.

£21,865,445

21,865,443
M. MARSUALL, Chief Cashier,
ated the 28th day of October, 1547.

directors, and he therefore begged to move a vote of
confidence in them.
The CHAIRMAN said, however gratified he and his
brother directors might feel at such a vote, still he
could not allow it to be put to the meeting, for the
same reason that he had refused to put the previous
motion, namely, that it did not come within the terms
of the requisition.—(Applause.)
After a few further observations,
Mr. IV. VirnaciNsoN said he felt perfectly satisfied
with the explanations given by the directors; and as
they could not pass a vote of confidence in them, they
could at least carry a resolution thanking them for
those explanations, which he begged to move.
I
Mr. BINNIE seconded the resolution, which was put
and carried unanimously.
Mr. FIELD asked in what position the shareholders
of the Ely and Cambridge branch of this company
stood.
The SECRETARY said the subject was taken into
the consideration of the directors last night, when a
resolution was passed that a considerable extension of
time should be given to those shareholders to declare
their option.
The meeting then separated.

THE MONEY PRESSURE.
Livastrooa, FRlnar.—The decline in the public
funds—the new disasters announced in Manchester
to private, and in the south to banking establishments,
have tended somewhat to break the hopes indulged of
a crisis rapidly passing away from the face of corn •
merce, and to chequer with new distrust the confi-
dence diffused by the recent suspension of the Bank
Charter Act. In Liverpool, happily, we have the
favourable announcement to repeat that no new sus-
pensions have taken place ; but from Glasgow the
stoppage of Messrs. Holdsworth has been mentioned
on 'Change ; and, consequently, our cotton and share
markets, sympathising with the tone of affairs, have
been flat, and declining since yesterday's date to the
quotations mentioned in our usual report, transmitted
herewith, London and North-Westerns being 150
against 1511 yesterday. The corn market, on the
other hand, exhibits an advanced quotation ; Western
Canal flour, named "Brunswick-street Consols,"
having been sold at 295. per barrel, with a demand in
some instances for a further advance. •
The rates of discount still continue undiminished.
There are rumours mentioned on 'Change, to the
effect, that should the North and South Wales Bank
resume operations—in regard to the prospect of which
I have remarked previously—the establishment will
cease to issue its own notes. This is merely men-
tioned here as a report. In truth, nothing is yet
determined upon.
The meeting of the Royal Bank shareholders to-
morrow is awaited with much anxiety in town.
Messrs. Barton, Irlam, and Iligginson's estate will
realise 19s. in the pound at present valuations; if
time be allowed, a surplus will be obtained. The cir-
cular of the bank manager has, we are informed,
received general assent.
The pressure on the money-market has had one
very beneficial effect in relation to railway affairs and
those involved in their progress, which will be felt as
an important relief to the shareholders, although its
operation will be to throw out of employment many
industrious artizans. I allude to the very general
suspension of railway works now in progress, or
rather to the diminished speed at which many
of those works are being carried on. Not only
are the Birkenhead and Cheshire Junction works
now entirely suspended, but the contractors for the
line from Liverpool to Bury have dischargedmore than
half the workmen employed thereon ; and the works
of the London and North-Western in this neigh-
bourhood are judiciously progressing at less than half
their former speed, while the company is likewise
postponing all their intended improvements and other
works upon their line. These diminutions will be a
relief of great importance to the embarrassed holders
of railway stock; and in their adoption all the large
contractors engaged in the suspended operations have
cheerfully and happily concurred. All parties are
now discovering what might long since have been an-
ticipated,—that the demand for labour consequent
upon the mass of railway works to be executed
within brief and limited periods has increased beyond
the rate the companies could afford ; and the extra
cost of labour thence arising must even now remain
in perpetuity a permanent debt upon the various lines.
As an instance of this great enhancement, I may
mention, on unquestionable authority, that on most of
the railway works in Yorkshire the masons, who pre-
viously had received 45. per day, now obtain ss. 6d. ;
and such, moreover, was the competition to ob-
tain labour of that peculiar description espe-
cially, that the masons dictated terms to their
employers, and enforced their acceptance. The
masters were compelled to give way. Bricklayers
obtained an advance in their pay of thirty or forty
per cent. ; and common miners, engaged in exca-
vating for tunnels and other works, received in num-
berless instances not less than six shillings per day.
Large numbers of these men will now unhappily, but
necessarily, be thrown out of employ, and, yet more
unfortunately, it is to be feared that comparatively
few of them have provided from their previously
large earnings for the necessities of a reverse such as
that which during the ensuing winter they must
encounter. That, consequently upon the lessened
demand, the wages of those still employed must now
fall to the level of previous years is inevitable ; while
as likewise it is clear, that railways cannot continue to
meet the increased cost of construction caused by the
previous high rate of remuneration.
The monetary difficulties of the times have yet
scarcely developed their disastrous results, however,
among these industrious classes of the social fabric ;
and, whether the reduction in the value of mechanical
labour now impending is ill be effected on the
railways of our manufacturing districts without
a struggle is, as yet, a question open to the
development of time. The trade clubs or unions,
however, are powerful in numbers and possessed of
large funds; and it may be that such measures will be
taken by them as will lead to a strike, and a conse-
quent total suspension of all railway works during
several months; a result, it may be remarked, which
would infuse secret gratification into every railway
board, and enable many companies to render, more
prosperous the aspect of their finances. The com-
munity hays been surprised, among the developments
of the recent commercial disaster, at the magnitude
of the liabilities exhibited in the accounts of suspended
houses ; bat it is well known that one great contractor
has more than 7,000,0001. of railway contracts on
hand and incomplete at this moment; and, although
2,000 workmen have recently been discharged from
his employ, he yet pays 50,0001. a week in wages
alone. This is a striking fact; and when it iss
recollected that there are numbers ofh contractors
of lesser magnitude, some of.tth.esm
'no longere however, em-
thousands of mens
both is
in maw-
derful that " calls"
areunt, and that a period of
ber and onerous
asnudsphnesiono
works, would be hailed by
f thankfulness. There are in
with a feeling o
com-
munity
er not so many unemployed men as
this town, however, fhraerme hao
1 dt total
repose, such as would eivaldamareisee
might have been supposed from the reports current
during the last week. One large building firm,
which employs a vast number of men, was said to
have formed the resolution of stopping many of their
works; and two large foundries were also mentioned
as likely to adopt similar measures ; but happily the
former has not discharged more than 100 to 160 of
their workmen, and the latter two have discharged
comparatively few.
On the whole, there is a better feeling abroad ;
and, now that men are beginning to regard affairs
in a calmer and more sober light, they are discover-
ing that when the storm has passed away speculation
will have received a salutary check, railway directors
a serious lesson, and it will be well if all classes profit
by the crushing calamities which have happened, so
that business may proceed with greater caution, and
with more reference to the actual means of the coun-
try than the greedy and baseless desires of rapid gain.
The Hibernia's accounts contain an interesting
statement of the commerce of New York ; from •
5
which it appears that during ten months, beginning
December 1, 1846, specie had been imported to the
Re
extent of 8,572,694 dollars, against, in the corre-
an that .
isnpeornedaisnegopfeBri,oodlgo,f2ll6B4lo-161a,r853,478 dollars:, ;
month of September last 350,925 d dollars during being
er
the
ported, while in the previous year but 2 255 dollars
were received. The export of specie during the cor-
respondent ten months amounted
to 1 132 098 dollars,
against 1,490,976 dollars in 1845 -6.2-Tilnes.

A ver
y nifi
the course otsheehipevreosuesntrumour has been circulated in
week respecting the position
of the South-Easter
ar of Railway
South-Eastern t
Company. From a state-
ment in another part of
na paper erf willat foundation
ne sen that
these rumours had inwhatever.
We are anxious to give as much publicity as possible to
the contradiction of. so unfounded a rumour.—Chronicle.
WONDEIFUL PRESBAVATION OF
O. n Saturday morning, a man employed in the excava-
tion of the railway tunnel near Standedge, near Leeds,
was completely immured in the bowels of the earth by a
large " shoot" of earth having taken place. Such was
the quantity of earth that fell, that though a great
number of men were employed to clear it away, and they
continued to work night and day, in shifts of three hours
duration, it was Monday afternoon before they got to
the poor fellow, when, surprising to say, he was found to
be alive. Altogether he was immured in the place, with
a sufficient space to move about, but with no food to
eat, for sixty hours ! When the workmen engaged in
his liberation had proceeded a considerable way, they
found the poor sufferer had contributed all in his power
to his own liberation, having with a large hammer, the
only instument he bad, perforated through the mass o
earth some three or four yards. So intense was his
mental agony, he could form no judgment of the period
which had elapsed since he was suddenly shut out
from the world ; but on seeing his master, he trem-,
blingly asked if it was Saturday night. Hot blankets
were immediately at hand, and he was wrapped in them,
and taken to the nearest house.