The Sun.
London, England, 1846-12-22 00:00:00

THE SUN, LONDON, TUESDAY EVENING, DECEMBER 22, 1846.

The orders for the advertisements were given by the
plaintiffs in the ordinary manner, through the secretary
who had received orders to that effect from the com-
mittee. The defendant attended the various meetings
of the committee, and took an active part in the ma-
nagement of its affairs. The secretary, it appeared,
waited upon the plaintiffs, and handed them a prospectus
of the company, and asked them to open an account
with them, to which, after examining the names, they
assented. The defendant's name, amongst many others,
was in the prospectus, and it was proved, that he signed
the usual form of consent, and conseqently allowed his
name to be registered.
Mr. Alexander, a clerk in the plaintiff's office, proved
the receipt of the orders, and the insertion of the adver-
tisments in the various newspapers.
Mr. KEANE objected to this proof as insufficient, and
held that the papers filed at the Stamp-office were the
only admissible evidence, and quoted the 6th and 7th
William IV. in support of his objection.
Mr. CROWDER said the whole of the papers in which
the advertisements appeared were in Court, and offered
to put them in evidence. He would not undertake to
produce the certified copies filed at the Stamp office, as
those he proposed ti produce were manifestly sufficient.
Mr. KEANE asked Lord Denman to take a note of his
objection.
Lord DENMAN acceded, and intimated that he consi-
dered the plaintiffs had proved enough.
Mr. KEANE, in addressing the jury, contended that
those who allowed their names to be put on provisional
committees did not pledge themselves to pay all the
expenses which the officers of the company might
think proper to incur in endeavouring to obtain an Act
of Incorporation. It could not be' supposed that a ra-
tional man would delegate this authority to others. He
should show that Mr. Bayn had placed the defendant's
name on the committee without his consent. They
would have to decide whether the putting down of his
name by the defendant made him liable for the claim,
and whether the act of becoming a member of the com-
mittee made him liable for all the antecedent debts of
the company and those which might afterwards be
incurred. They must look at the intention of a man in
taking such an office. No one who took such an office
in the autumn of last year ever intended to be respon-
sible for the whole debts of the company with which he
became connected. This he held was the proper meaning
of the Registration Act.
Mr. Bayn was called, and stated that he was a friend
of the defendant's, and that he gave his name without
his consent to Mr. Keane as a provisional committee-
man for the railway. This was on the 16th of October.
He did not write to the defendant for some time after.
He had placed his name, and the names of others, on
committees without their consent. Some had repudiated
his acts.

Mr. CROWDER replied, and held that the defence set
up was perfeetly inconsistent with the facts elicited, as
the defendant voluntarily became a member of the com-
mittee, as he had acted in that capacity, and as he had
confirmed the correctness of the plaintiff's bill in direct-
ing the secretary to annoy it, after it was audited, to a
letter which was sent by his direction to the other mem-
bers of the committee respecting tee debts of the
company. His consent was conclusive. Not-
withstanding the statements of Mr. Bayn,
he ihought he was justified in saying that he had
authority to add his name to the committee—at any
rate the defendant took upon himself the office. Great
stress was laid upon the fact that the defendant did not
join the company until Nov. 15, and that he could not
be held responsible for debts incurred before that period.
But be made no objection to the amount of the claim.
The advertisements after that period were simply renewals
of those which had been given, and were necessary for
the proper carrying on of the company.
Lord DENMAN left it to the jury to say whether the
advertisements were necessary for the purpose of esta-
blishing the company, and whether the defendant had
made himself liable, by the part which he bad taken in
the management of its affairs. There could be no doubt
that he was a provisional committe-man. If they thought
he was liable, but not before the 15th of November, the
amount could be arranged amongst the parties.
The jury retired, and after an absence of two hours
and a half, returned into court with a verdict for the
plaintiff for 2341.
FEARON V. THE PENINSULAR AND ORIENTAL STEAM ,

NAVIGATION CODIPANY.
The jury were called in this case, which was expected
to htve been a protracted one, but
Mr. COCKBURN, who appeared for the plaintiff, inti•
mated that the record had been withdrawn.

order. Ho was opposed by Mr. Buchannan, and sup-
ported by Mr. Duncan.
Mr. BUCHANNAN argued on the objections taken at
the last examination, namely, that the insolvent had not
properly described bimselt in the schedule, as he had
contracted debts under the name of John Badman
Walker.

On the last hearing it was shown that the insol-
vent had carried on business in Scotland as a licensed
victualler, and had taken out licenses in that name,
therefore that he was bound to insert it in his schedule.
Mr. Duncan, on the contrary, urged that the Insolvent
Act did not apply to Scotland, and that the creditors
had no right of opposition.
Mr. BUCIJANNAN now contended, that under the Act
of Parliament, and under the orders of the Com-
missioner, which were tantamount to an Act, that ever)
name under which he had traded or contracted debts
was to be inserted, and it had been so held by the Com.
missiouers of the Insolvent Court.
The Learned COMMISSIONER, after some further ar-
gument, said he would not trouble Mr. Duncan to reply,
as he was of opinion that the insolvent had complied
with the Act, by describing his name, address, and
quality, for the last twelve months, he was within the
jurisdiction. Scotland not being within, there was no
reason to do it. Besides, no one had been deceived, as
it was publicly known that " Johnny Walker" was not
his real name.

Mr. BUCHANNAN—Then if a man is christened A B,
and goes all his life as C D, till he gets in debt, then he
may go by his real name.
The COMMISSIONER—I cannot help that. If there be
any wrong or hardship it is in the Act itself.
The final order was granted.
Mr. DUNCAN said, that although all the objections,
whic:i were merely technical, had failed, and he was now
free from his creditors, ho was willing to pay ss. in the
pound, and he would use his earnest endeavours to make
it up 20s. as soon as possible.
The court was crowded by friends of the insolvent.

MIDDLESEX SESSIONS.
(THIS DAY.)
The December second adjourned sessions commenced
this morning before the Assistant-Judge and a full
bench of magistrates, at the Court-house, Clerkenwell-
green.
The calendar contained the names of 68 prisoners, all
of whom were charged with felony, with the exception
of three.

The Learned ASSISTANT-JUDGE, in charging the
grand jury, said he wished to make a few remarks in
reference to the fact of its having been determined on
the last county day to appoint a committee to consider
several presentments made by grand juries of the county
of Middlesex, which stated that these institutions, in the
opinions of their members, were of compa-
rative inutility, considering the nature of the
cases brought before this court. Under the
existing state of things, when grand juries were
first established, they were a most important in-
stitution, both as serving to counteract any tendency to
despotism by the coroner, or to lessen the evils of popu-
lar excitement, and at the present moment the same re-
mark was applicable only as the appropriate sphere of
their utility seemed to be in the higher criminal courts.
Charges before being sent to this court were investigated
by the police magistrates, who had the fullest opportu-
nities for judging whether there existed a prima facie
case or not ; while the opportunities of the grand jury
at this court, considering the nature of the cases
to be tried, are much inferior, and, he might
say, that one of the least evils of the system
was the inutility in a great measure of bringing 24 times
every year, sometimes as many as 72, but never less
than 36, gentlemen from different parts of the country.
Every person was familiar with the various means
adopted to pervert justice by making statements when
before the grand jury quite at variance with those made
originally, and within the last three months he saw a
document stipulating the payment of three sovereigns
for giving such false evidence. He need not allude to
the facilities afforded to that infamous class who live by
indicting brothels, for the purpose of getting " bush
money," but he would state that a gentleman, an officer
of high rank in the army, and of the highest family con-
nexions, was indicted by one of those individuals for the
purpose of extorting money from him through his fears,
merely because he resided three weeks with a female.
The Learned Assistant- Judge concluded by calling the
attention of the gentlemen of the grand jury to the im-
perative necessity for taking some decided steps with
respect to the reformation of juvenile offenders, 500 of
whom, between the ages of seven and twelve years, had
been committed to pi ison within the last twelve months.
Robert Draper, a boy only eleven years of age, was
indicted for stealing a quantity of old iron ; and the jury
having returned a verdict of Guilty,
The Learned ASSISTANT-JUDGE put several questions
to the prisoner, from which it appeared that his father
and mother were dead, and he had no person connected
with him alive now, except his step-father, and that he
(the prisoner) could neither read nor write.
The Learned ASSISTANT-JUDGE said, this was a case
the disposal of which, under the existing law, must
cause deep pain to every person of ordinary feeling. It
was quite evident that the only person responsible for
the care of the prisoner had turned him into the street,
to relieve himseif from the onus of his support, and
thus cast it upon the nation, and it was with much
regret that he too often saw depraved parents shirking
their duties in a similar way. He much feared that so
long as the present discipline prevailed in Parkhurst
hut little good could be expected to accrue to the children
sent there, for it was essential to reformation that the
sweets of good conduct should be impressed on their
minds. The only course, however, which was open to
him was to deal with the case as the law stood, and sen-
tence the prisoner to six months' imprisonment.
Several other indictments against very young pri-
soners were also tried during the course of the day.

SOUTHWARK.—(THIS DAY.)
John Neal and Sophia, his wife, were charged with
having in their possession several glasses and spoons,
supposed to be stolen ; a quantity of pewter in a molten
state was also found upon them, the produce of pub-
licans' pots. .

A policeman seeing the prisoners in the Borough
that morning, and suspecting from their appearance that
they had stolen property in their possession, he stopped
them, when he found on the male prisoner the lid of an
old saucepan, full of molten pewter, such as is use(' in
the manufacture of publicans' pots, and which is also
used in making counterfeit money. On the female he
found two cut ale glasses, a gin glass, and a half-pint
plain ale glass, the names on which had been ground
out. He then took them into custody.
The prisoners gave a most unsatisfactory account of
their possession of the above articles, but in the course
of the inquiry it turned out that the male prisoner was
a hardworking, industrious man, but his wife was given
to habits of intoxication, and it was strongly suspected
she had stolen the articles from different public-houses.
The prisoners were then ordered to be remanded for
further inquiries.
_ _

Two boys named Sullivan and Smith were charged
with breaking open a porter store underneath the Green-
wich rt ai 1 w ay, and stealing several bottles.
The prisoners were seen in a marine store-dealer's
shop in Bermondsey-street offering half a dozen bottles
for sale. A policeman took them into custody, and it
was subsequently discovered that the bottles had been
taken from a porter-store in the above locality, the door
of which had been forced open, and a considerable
number of bottles stolen. Evidence was given that the
prisoners were seen in the act of breaking open the store,
and being suspected of committing other robberies they
were remanded.

CITY ELECTIONS—(THIS DAY.)
LANGBOURNE WARD.—(SECOND DAY.)
The polling commenced this morning in the Ward
Schools, Lime-street, and closed at half-past twelve,
when the numbers were declared as follows
Dixon
Unwin 35 Gibson
24 ! Shaw
Howard
Snelling
Frodsham
Miller
CRIPPLEGATE WITHOUT.
The poll closed at one o'clock, the numbers being—
Jones .•..
Dixon ..................... 83 Johnson 68
Gilbert
76 Read .60
.......
47
B LINGSGATE.
SEaiddrleidr ...............................
The poll-book, sw er e
St.o opened this
Hmioiri,n iantgainqutahreterr Fel-
lowship-porters'
s fol-
lowship-porters Hall,a ows
:..._
one • the numbers were 28 1
Old
Curling ..................
31 *Barnes 26
Bower .................
9 *Gorton
Knill ................... . 16
12
Williams ...............
Robes is .................. 23321
:pGiipbebrs
Phillips
the Con-
Those markceßditphrusL*EaGrAe newTE WcanadiHdalles..
The poll demanded yesterday by Mr. Wilson,
at the
servative candidate, was proceeded with today,
school-rooms, Philip-Lane, Addle-street.
three, and appeared to excite considerable interest i
The polling commenced at one, and terminate
three,
ward. At the closing of the poll for the day,
Mr. Alderman CHALLIS announced the numbers to be—
Smith 37
39 Brass ....................
Brown 37
40 Cash ......... ................
Hoole
39 Lart
Bennoch
3
The polling will commence 3
Dewar 96 And Wilson, the Con-
terminate finally at four o'clock.
The second C
day'so li D
WARD.commenced at one o'clock
this afternoon, and closed at two, when the numbers
declared were, for
pollingw Ai Ec
Rtoou
Is. servativemo to-morrow r ow c
aa
tn candidate...
oa, t
andei.. will2o
Nluddell 2B Jolliffe
Croucher
Lott
withi a t
greatthe llra
spiritr d -
oilnlipngetße rI - s
tHr
eoe
commencedPt 29 8
Joyce
, Sand A
thisTE morning
continuedWAßD.
S crhrohoel sp,
until the close (three o'clock) when the numbers were
declared as follows :
Stevens
Peacock
*Owden 134
Jones
Hall
Filcher
Carr
Bennett lO9
The rolling will commenc,
wards, and finally close the

Johnson
Ashby
Patten
Tozer
*Tagg
Sharland
*Gilpin
Thomas 9O
:e to-morrow in the contested
same day.

LATEST PRICES OF SHARES,
IN BANKS, ASSURANCE, AND OTHER COM
PANIES' STOCK.
From tile Official List,
PUBLISHED EVERY TUESDAY AND FRIDAY EVENING.
LONDON, TUESDAY, DECEMBER 22,
JOINT-STOCH BANKS.

Name of Company.

Dividend
per
Annum.

Amount

Share.

tustralasla ..........
Brash N orth American
::ommercial of London
..........

6/. per cent.
51. per cent.
5/. per cent.
5/. per cent.
61. per cent.
61. per cent.

s. d.
40 0 0
50 0 0
100 0 0
1100 0 0
100 0 0
50 0 0
25 0 0
100 0 0
10 0 0
50 0 0
100 0 0
20 0 0
25 0 0
50 0 0

Londn and Westininsti
London Joint-Stock ...
Nietropolitan
Provincial of Ireland..
Ditto, New...
National of Ireland ..
sat. l'rovncial of Eng.
Ditto,
Union of Australia....
Union of L0nd0n.....

INSIT:

Name of Company.

Albion ..............
Alliance Brit. and For.
Ditto Marine...
Atlas . •• • • •
British Commercial ..
Gen. Life
county ..............
Crown • • ••• •• ••
• • •
E ng. & Scot. Law •
European Life ......
Freemasons'. • •
Guardian • • ........
imperial Fire
imperial Life . . • •
Indemnity Marine....
Law Life.. • • • • • • • • ..
Legal and General Life
i..midon Fire ........
~ondon Ship ........
Marine • • •
Fed. Invlid & Gen. Life
National Lean Fund..
National Life....
Valladium Life
eticenix •...
Protector Life.... ...
Provident Life
Rock Life............
Royal Exchange
Sun Fire.•
Ditto Life .....
Universal Life ..

81. per cent.
81. per cent.
51. per cent.
51. per cent.
51. per cent.
61. per cent.
51. per cent.

.NCE C,

Dividend
per
Annum.

3/. 10s.
6 per cent.
61. per csnt,
13s. 6d. pr sh.
7s. per share
51. per cent.

10s.
Os.
51. per cent.
5% per cent.
51. per cent.
61. per cent.
51. per cent.
61. and bonus

12s. ---
1/. sh.& bs.
11. ss.

10s.
10s.
5/. per cent.
/. per ct.
M. per cent.
8/. per cent.
51. per cent.
p. ct. & bs,
5/. per cent.
1/. ss.
4s.
5/. per cent.
61. 10s.

1/. 6s.
1034 i. pr cnt

1741 PAN:

Amount
of
Share.

Name of Company.

d.
500 0 0
100 0 0
100 0 0
50 0 0
50 0 0
100 0 0
100 0 0
50 0 0
50 0 0
50 0 0
20 0 0
20 0 0

Stock.
100 0 0
500 0 0
100 0 0
100 0 0
100 0 0
50 0 0
25 0 0
25 0 0
100 0 0
50 0 0
20 0 0
100 0 0
50 0 0

20 0 0
100 0 0
5 0 0
Stock.

100 0

DOCKS.

Dividend I Amount
per of I Paid.
Annum. I Share.

Price

Price

18%
5%
15%
.7..%

51ixd

I 6
4814

8%
231. 6s
205

241. 6d

Price.

1 X B. d. £ e. d.
Commercial ... - 80
East and West India 6l. pr cent. 1 Stock. - -
East Country • . 1/, per sh. 1100 0 0 21
-
I 3ndon ..
S.l. Katharine •••• • • • • 5 per cent. 1 Stock. - 99'
Southampton ••..• • • • ' 4/. per cent. 50 0 0, 50 0 0 -
-- WATER-WORD S.
, Dividend A'inount ,
• Name of Company, per of Paid. Price.
Annum. Share.
--- ---- --
X 8. d.
East London.. •••• • • • • 81. 100 0 0 ' - 205
Grand Junction .... -3/. 10s. 41 13 4 90
-
Kent.... •.-••• • • • • • 2/. 10s. 100 0 0 - -
Vauxhall •••.•• . • • . • • Si. per cent. 100 0 0 - -
West Middlese . . • 51. ss.pr cut. 63 12 9 _ 130
LIST OF SCOTTISH COMPANIES' PRICES.
Dividend Amount
Name of Company. per of Paid. Price.
Annum. Share.
£ 8. d. X s. d
Bank of Scotland - 100 0 0 176
Royal Bank of Scotland 61. per cent. - 100 0 159
British Linen Company Si. per cent. - 100 0 0 220
Commercial Bank - 100 0 0 167
National Bank 6l. per cent. - 10 0 0 141.10 s
Union Bank of Scotland 74/. pr cent. - 50 0 0 91
Western Bank...-. • • 61. per cent. - 50 0 0 85%
North of Scotland Bank 61. per cent. - 50 0 7%
Clydesdale Bank ••• • • • 61. per cent. - 10 0 0 13/. 8s
Eastern Bank.. ... •• • 5/. per cent. - 10 0 0 111
Caledonian Bank ...• • 7%1. pr cent. - 2 10 0 41.11 s
Edinb.& Glasgow Bank 61. per cent. - 5 0 0 7/. Is
City of Glasgow Bank . Si. per cent. - 10 0 0 131. 7s
Scottish Union Ins. Co. 51. per cent. 20 0 0 1 0 0 258. 9d
Hercules Insurance Co. 71. per cent. 100 0 0 10 0 0 14%
Insur. Co. of Scetind • • 51. per cent. 10 0 0 All paid. 9%
North British Incur 541. pr cent. 200 0 0 10 0 0 27%
Caledonian Fire Insur lOl. per cent. 100 0 0 10 0 0 224
Edinburgh Life Insur 6l. per cent. 100 0 0 12 10 0 18 4
Edin. & Glasg. Railway 1/.108. per c. 50 0 0 50 0 0 74%
Ditto, 4 Shares 7s. 6d. p. s. 12 10 0 All paid. 18 4
Edin., Leith, & Grantn - 20 0 0 20 0 0 18%
Glasgw & Ayrshir Rail. 71. per cent. 50 0 0 All paid. 69 4
Glasgw & Greenck Rail. 21. per cent. 25 0 0 All paid. 16%
Glsgw &Garnkirk Rail. Si. per cent. 25 0 0 All paid. 39%
Dundee & A:troth Rail. 61. per cent. 25 0 0 All paid. 37
Standard LiteAssurnce.lsl. per cent. 50 0 0 210 0 1 9
CANALS.
Names of 2, ' D ivid end Names ••• per Price.
co
c 1 Annum.
Dividend
Companies. A per
4 Annum.L
Price.
Companies,
.12;
£1 I £
Ashtn & Oldh 97 51.55. p c - Monmouthsh 100 81. -
Ashby-d-la-Z 113 41. .- Dintgomry-sh 100 51. -
Barnsley •- • • 160 121. - 31acelestleld . 1001 - •-
llasingstoke..lloo - - Neath ... •. • 100 171. -
Brknk&Abrg 150 Si. - Nottingham. 150 121. -
Cromford ..• .1100 141. - Peak Forest. 78 31. 75
Dudley 1100 4/. - Regent's .. • • 33 11. ss. 20%
Derby •.. lOO 6/. - Rochdale .... 85 4/. -
Ellsmre&Chs'l33 4/. 55 Shropshire . • 125 81. -
E:ewash ....100 321. - Somrset Coal 150 71. lOs. 1 -
Forth & Clyde 100, 41. - Do.Lk Fd St 12 6/. p. c. -
GrandJunctn 100, 71. 83 Sttlrd &Wore 140 281. -
urand Union 1001 11. 10s. - Shrewsbury.. 125 151. -
Glarnorgnsh . 172 13%1. - Stourbridge.. 145 201. 315
i-listr&Brklyi .001 - - strtrrdon Av 79 it. lOs. -
,-;rantham • • ;1501 121. - Severn and}
26 IL Bs. -
Huddersfield. 57; - - Wye Rail.
Kennt &An 39 Ts. 6d. 5 Trnt& MI 50 301. -
Lancaster ) 471 I/. 10s. - I soy, 4 511.
Leeds&Livrp 100 1 341. 522% Thams &Med 19 - -
Leicester .. . • 140, 101. 105 Worcstr &7 78 21. 43
l,eicstr &Nth' 8J 41. 52 firming.)
Loughboroghi 142, 701. - Wilts & Brks 67 H. -
COURSE OF EXCHANGE.--(THIS DAY).
Amsterdam .. • • ..C.r. 12 4 Gibraltar... •••••• • '' '• -
Ditto, at sight .... • . 12 1 Leghorn •• • •
Rotterdam .... • • 2U. 12 4% Genoa .. • •
Antwerp • ... ..
llamburgh .... • • MIL
•••• •
13 104 Venice.... • - ,
&trona. - Naples •••• • • • .. 404
Paris, 3 days' sight. ...• 25 .55 Palermo, perm ••••• • • 120
34
Ditto, 3 months.... • • 25 85 Liabon- -•••••• • • • • ' • 53"
Marseilles ••••••• • • • • • 25 90 0p0rt0....
Bourdeaux.... .. .• • • • 25 90 Rio Janeiro ..........26
Frankfort on Maine.... 121 Bahia ....... ..... •• • • - Petersburgh, 3 Us.. .. -
Vienna, effec.f10...... 10-5
......
• . • • • • PhiladelphiaNew
York,
Berlin .... Buenos Ayres •
• • .• • • -
Trieste, ditto.... ••• • • • 10 5 TracKs or BULLION, PER 02.
Madrid • • ............ 35%
Cadiz
•••••:• • • • ' • • • 36.1 A Portugal Gold Coin ••0 0 0
Bilbao.. ...... ......._ 0 4 10%
New Dollars
2ldays...sn -....
Barcelona - .......... - Spanishroreigi DGooludbiionobnasrs XO3 107 90
Seville... ....... ...... - Q,....-_ ... -- -- n h nu

PRIM OF BULLION, PER 02.
Foreign Gold in bars X 3 17 9
Portugal Gold Coin •• 0 0 0
New Dollars
Spanish Doubloons
Silver in bars ...... • • 0 5 OIA

SALE OF RAILWAY SHARES BY
AUCTION.—(THIS DAY.)
The sale of Railway Shares, to-day, at Messrs.
Lamond and Co.'s, went off very well ; a good business
was done, and previous prices were obtained. The fol-
lowing are a few of the principal sales :
East Indian ...
Great Luxembourg
London and York (scrip) ... 2 6 0
Waterford, Wexford, and Valentia 0 4 0
Derby, Stafford, and Worcestershire, Old 0 9 6
Madrid and Valencia 1 0 0
Shrewsbury and Hereford
Eastern Counties, York Extension 3 10 0
Paris and Lyons 5 5 0
Shropshire Union and Canal
Leicester & Bedford, Exchange Certificate 0 10 6
Great Indian Peninsular ...
Louvain ala Sambre 1 17 6
South Yorkshire, Doncaster, and Goole 2 5 6
Northern Counties Union 1 3 0
Ceylon

WEST CORNWALL RAILWAY.
(THIS
teof rtnhwe
el
eO3 ap DAY.)
The first ordinary general meeting of the proprietors
of thehe
offices West Cornwall Railway
in
Be
wayw u r hadel.etrdtehei st.hud
afternoon,iiing
at s
Mr. Louis Vigurs, chairman of the board of directors,
in the chair.
The meeting was made special for the purpose of
authorising the directors to apply to Parliament for
powers to make a branch to St. Ives.
The CHAIRMAN stated that originally it was intended
only to extend the Hayle Railway at either end, but
Parliament refused to grant powers for that purpose, and
the present company was organised by the parties who
promoted that scheme. The line Parliament had granted
to them was opposed by the Central Devon and
Cornwall Railway Company, which would have com-
peted with them to a certain extent. That scheme
failed to pass the Standing Orders Committee, but still
the promoters opposed them through every stage. The
opposition proved nugatory, and the project had been
handed over to the South-Western Company, who pro-
posed to revive it again next session, abandoning that
a
part which would have competed with them, and they
therefore did not intend to oppose it. Sufficient time had
not yet elapsed to admit of the accounts being made up,
but at the next half-yearly meeting a full statement of re-
ceipts and disbursements would be laid before the share-
holders. He did not anticipate that such statement
would show any extensive balance of the deposits in
hand, bat it was gratifying to know that they had ob-
tained a line for all their trouble and expense which
yielded them a return of 10 per cent. upon the outlay.
The first contract would be ready to be let in about a
month, when a call would be made.
The report recommended the formation of the branch
to St. Ives, and the improvement of the port of Hayle,
and stated that interest at the rate of 4/. per cent. would
be be paid in calls, and 51. upon calls paid in antici-
pation.
The CHAIRMAN stated that the total amount of de-
posits was 32,700/., of which 28,0001. had already been
paid away. Their liabilities would swallow up the
alance. Four thousand shares had been allotted to the
Hayle Railway Company, upon which nothing had been
paid, and there remained 5,000 shares still to be allotted.
was
dne at through.
a year;Thc
No official overtures had yet been made either for leasing
or purchasing the line by any company.
The report was the adopted, and the routine of busi•
businessdsotiftootrhrsdeiadntiarre2yelt/o.r;sawnd
fixed
secretary's salary
rwtnheeamassstuonoferr o
t
fixed a haat fit
remuneration
per annum.
The special resolutions referred to in the report were
then put from the chair and carried unanimously.
Powers were taken to oppose the South-Western
Company should there be any necessity for it.
In answer to a question,
The CHAIRMAN stated that the 4,000 shares were
handed over to the Hayle Railway as a consideration
for the sale of their line. The line was delivered up to
company on the 13th of November last, and the Hayle

i proprietary would be entitled to intesest from that date.
IThanks were then voted to the chairman, and the
meeting broke up.

BOSTON, STAMFORD, AND BIR-
MINGHAM (STAMFORD TO WISI3EACH)
RAILWAY.—(THIS DAY.)
The first general meeting of the proprietors of this
company, under their Act of incorporation, was held to-
day at their offices, 18, Abingdon-street. Thomas Ma-
caulay, Esq., in the chair.
The usual formalities having been gone through, the
Secretary (Mr. Seward) read the report. It stated that
the scheme originally proposed was 90 miles in length,
extending from Leicester to Wisbeach, with a capital of
one million in 50,000 shares. The scheme had no sooner
made its appearance than three existing companies en-
tered the arena, to occupy the district with railway com-
munication—namely, the London and Birmingham, the
Midland Counties, and the Syston and Peterborough.
This state of things, holding out ruinous and expen-
sive contest, combined with the state of the money
market last year, determined the directors to give
up the opposed portion, and restrict their
operations to that which was unopposed. The
directors only sought the present line from Stem-
ford to Wisbeach, 22 miles in length, which they had
obtained. This reduced the capital to 225,0001., or
12,600 shares of 201. each. It was proposed to condense
three cf the old shares into one of the new, which would
make 31. 63. paid on each. The next call proposed
would be 11. 145., which would make 51. in all,
paid up on each of the new shares. The
directors had great pleasure in stating that an offer
had been made by the Great Northern Company (late
London and York) to unite with the present one. The
terms proposed were—the present company to make the
line (which the directors stated could easily be done at
225,0004 the Great Northern guaranteeing on that
amount of capital six per cent., commencing in July,
1848, whether the line was completed by that time or
not. From the time that the agreement was ratified up
till that time, the shareholders of the present company
were to receive five per cent. on their paid up calls. It
was further observed, that the Great Northern might at
any time purchase the Stamford and Wisbech line at 50
per cent. premium on the capital of 225,000/., and the
shareholders of the latter scheme would have the op.
Lion, after the opening of the Great Northern line, to
exchange their shares at par for shares in the larger
company. The expenses arising from the enormous
prices of last year had been very heavy, but this had
arisen in a great measuae from going to Parliament
for the large scheme, the preliminary expenses for that
being very great. The whole expenditure was
34,0681. Bs. Id., leaving a balance in hand of 6,414
ss. 3d. Notices to Parliament had been given for three
extension branches.
The CHAIRMAN then addressed the meeting at some
length, congratulating the shareholders on their im-
proved position. When they met last May, pursuant to
the sessional order, the shares were at a discount, but
now they were, he was glad to say, at a premium. The
most important feature in the report was the proposal of
the Great Northern Company, which the directors ad-
vised the adoption of, as presenting most favourable
terms. They would not, however, be called on to de-
cide the question at once, as another meeting would
have to be called in the latter end of January, or the
beginning of February, at which the terms would be
formally submitted. He proposed that the report be
received, adopted, printed, and circulated among the
proprietors.
In answer to several questions,
The CHAIRMAN said that the capital would more than
make the line, though, should it not be sufficient, the
Great Northern would have to complete it ; that the 6
per cent. would be guaranteed on the 225,0001., what-
ever the line might cost ; that the expenses, though
apparently large in relation to the length of the line,
were as small as any other scheme of last year. It was
not expected the calls would come very heavy.
The motion was unanimously agreed to.
On the motion of Mr. BADGER, seconded by Mr.
WATKINS, a resolution was next carried in approval of
the terms offered by the Great Northern Company.
Resolutions were likewise unanimously carried, ap-
pointing twelve directors, eight being members of the
Great Northern Board, and four belonging to that of
the present company, with 1,0001. for their expenses
during the current year ; also, appointing Mr. Pearson
managing director, and Mr. Seward, secretary, at 1501.
per annum.
The meeting, having passed with acclamation a vote
of thanks to the chairman and board of directors, then
broke up.