The Sun.
London, England, 1847-03-13 00:00:00

less. If the latter charactristic be only visible in
the strife, we shall not haveto mourn the former with
So much earnestness.

The Railway Commissioners have published their
first report, in pursuance )f the resolution of the
[louse of Commons, " that ill railway Bills shall be
eferred to the Commissioners for their report to the
House upon certain points previously to such Bills
being considered in Commitees of the House." In
the present instance the projects of the South-Eastern
Company, are eight in numbe, five of which are placed
in Group No. 1, and the remainder in No. 3,
form the subjects of the report. The Commis-
sioners state the impossibility of their being respon-
sible for the correctness of the information that could
only be obtained from the companies themselves, but
at the same time do full justice to the company in
the present instance, for the great readiness they ex-
hibited in supplying the requisite answers to their
inquiries, and state that they see no reason to doubt
the accuracy of the information so given.
In consequence of the atove resolution, every
existing company applying for fresh powers to Par-
liament, must render a complete account of its
stewardship, and show in mhat manner, and to
what extent, it has executed the powers granted
by any former Act or Acts, and the report is to
state the opinion of the Commissioners thereon, and
also as to any special provisions with which it may in
any case be expedient to accompany the grant of any
new powers. A salutary check will thus be held over the
several companies, as there are few, indeed, that will
not have occasion to apply to the Legislature at some
time or another, and the exposi to which they will
necessarily be subjected will prevent any abuse of the
trusts reposed in them. These inquiries, however,
appear, in the present report, to have been restricted
to the pecuniary affairs of the companies; and we
should gladly have seen them further extended to the
nature and sufficiency of the accommodation provided
for the public, in return for the virtual monopoly con-
ceded to them, the cleapness and moderation of their
fares; tolls, and charges; the number of trains running
every day ; and whether any and what additional
number would be required for the public convenience,
and the giving of every due facility to the traffic,
whether of passengers or goods, particularly
the number of third-class trains so dispatched ;
the speed attained, and the goodness of the carriages
provided for the poorer classes. We conceive that
information on all these points would be extremely
useful, and that special provisions may fairly be in-
troduced into the Acts of any of the companies who
have hitherto failed in their duty to the public, re-
quiring them to amend in any of these particulars
where they have been found in fault, before any new
powers are conceded.

The eight Bills now applied for will, if sanctioned
by the Legislature, enable the South-Eastern Corn.
pany to raise additional capital to the extent of
3,025,7501., and to borrow 1,007,810/, while by the
former Acts, twenty in number, it had power to
raise a capital of 6,415,0331., and to borrow
2,218,7101. Of their capital money there has been
received 4,290,075/. Bs. 10d., and 3,656,420/. 55. re•
mains to be paid, showing that the company have
sustained a loss of 244,5041. 6s. 2d., in conse-
quence, it is stated, of the forfeiture of some of the
earliest shares, which, when sold, in many instances
did not realise the amount of the calls due upon them.
Another singular circumstance connected with the
company is, that on various occasions they issued
to their proprietors shares of a lower pecuniary
amount than their original shares, but which, never-
theless, were entitled to equal dividends. We find,
therefore, shares of 50/., 25/., 321., 331. 6s. Bd., and
301., all of which participate equally in the profits of
the company. The Commissioners, however, are of
opinion that, as these new shares were issued to the
holders of the original shares, the interests of the pub-
lic will not be materially affected by these transac-
tions, provided that in any future calculation of
profits, with a view either.to the revision of fares,
or the sale of the railway, under the provisions of
the 7th and Bth Vic., c. 85, the different shares are
reckoned at the amounts at which they were re-
spectively issued, and not as SOL shares, as they
have been erroneously termed in share lists. The
different dealings of the company, either by way of
purchase or loan, are set forth, and a particular re-
ference is made to the purchase of Folkstone Har-
bour, which, if the transaction were now pending, or
if the arrangements were to be authorised by any of
the present Bills, the Commissioners would think it
their duty to report specially on. They now, how-
ever, only allude to it as an example of a transaction
to which in future the attention of Parliament ought
to be specially directed. The Commissioners most
justly reprobate in the strongest manner a
custom which has extensively prevailed, and which
may be considered as having received the tacit per-
mission of Parliament, and for which, therefore, no
peculiar blame is ascribable to the company. It is
the custom of directors signing the subscription con-
tracts for large sums on the understanding that it is
and that they are
sums for which
t
This the
solelytnhoety tappear
behalf
liable
ocif
on
noe n company,
fortheir
contracts.the sums
Commissioners state to be a violation of the real
spirit of the standing orders, although it may be con-
sidered a technical compliance therewith, and we fully
admit the sufficiency of the reasons adduced for that
opinion ; they also question the propriety of compa-
nies making the Parliamentary deposit out of funds
authorised to be raised for other purposes.
We would gladly have seen some allusion to the
open third class carriages, exposed to all the incle-
mency of the weather, and without seats for the
passengers to sit down, the impropriety
of which has been exposed by our correspondent
" VIGILANS" on a former occasion. There is no notice
either of the increase of fares adopted immediately
after the termination of last session, after they had
pressed the moderation of their former charges on
the
should be granted.
These are subjects well worthy
the attention of the Legislature on thepresent occasion.
extenso.
We shall, on an early occasion, give the report in

A Vienna letter, of the Ist, announces the arrival of
the Queen of BAVARIA in that capital, with the inten-
tion of making a long visit. Her MAJESTY alighted at
the Palace of the Archduke ALBERT, who is her son-
in-law.

A letter from Constantinople, of the 18th ult., in
the Augsburg Gazelle, says :—" The letter which
King OTLIO has written to the SULTAN relative to
the difference that has arisen with respect to M.
Mussunus, is said to be couched in the most con-
ciliatory terms. King Orrro assures the SULTAN
of his most friendly intentions, but at the same time
complains strongly of the conduct of M. MUSSURUS
which be attributes to malevolent intentions. His MA-
JESTY adds that, in testifying to M. Mussunus his dis-
pleasure at his conduct relative to Colonel KARATASSOS,
he had no intention of offending either the SULTAN or
the Divan."

Madrid journals of the 6th instant have arrived.
The Hera/do states, that henceforth a monthly report
of the operations in the Finance Department of the Go-
vernment is to be publikhed in the Gafeta, showing a
report of the receipts and expenses of the Treasury, the
general balance, &c.
In the Chamber of Deputies' the debate on the
Address still continues. 01113,•PIIIIffe

The Barcelona Fomento, of the sth, publishes another
most ferocious "Bandu" of the Captain-General of
Catalonia, BRETON, against such as may assist or connive
at the Montemoliaist movements.

MA)Rrn BOLIA, MARCH 6.—The Three per Cents. closed
at 3.0% for c.ish; the Five per Cents. at 19,4; the Passives
at 5%; and the Coupons at 17.

We have received the Paris papers of Thursday.
The Journal des Debuts has a long article, written
for the purpose of allaying the alarm which prevails in
consequence of the continued increase in the price of

corn. It says--
" The prices of corn have been rising generally and con-
tinually throughout Western Europe. In two-thirds of
France the hectolitre (22 imperial gallons) is at about 401. ;
but the price is still greater in Belgium. It is also very
nearly the average price in England. It is asked if this
high price is at its utmost reach. and, if it should continue,
to what point it will attain. Everybody asks what is to be
done to prevent a recurrence of such extreme dearness of
the most necessary of all the provisions of life. The increase
at this moment is cawed from the stores in the entrepOts
having only very
limited quantities left in them. It is by Mar-
seilles, Havre, and Bordeaux that we receive the supply that
is indispensable. No one has any doubt of the existence of
this supply. Nature this year has performed this act of com-
pensation which she never refuses; penurious towards several
regions, one of which unfortunately is ours, she has been 1
liberal towards others. Therefore bread-corn will not fail.
However, at this period of the year, the transport from
abroad ia ezceedingly difficult, and indeed, almost impossible.