The Sun.
London, England, 1846-02-07 00:00:00

NAME OF RAILWAY.

FRIDAY, FEB. 13.
Cork, Blackrock, and Panage Railway.
Alford Valley Railway.
Deeside Railway.
Great North of Scotland (Eastern Extension) Railway.
Great North of Scotland Railway.
Welsh Midland Railway.
Gloucester and Dean Fereat Railway and Pier.
Lancashire and North Yorkshire Railway.
Bridgewater and 3iinehead Railway and Pier.
London and Croydon (Thames Junction Branch) Railway.
Chelmsford and Bury Railway.
Glasgow Harbour Mineral Railway.
Direst Northern Railway,
East Lothian Central and Tyne Valley Junction Railway.
York and Carlisle Railway.
Hull and Selby Railway Purchase.
Cornwall Railway.
Shrewsbury and Hereford Railway.
Shropshire Unica Railways and Canal (Newton to Crewe v fhb,-
Branca).
Shropshire Union Railways and Canal (Shrewsbury and Stab I)hI
Railway).
Shropshire Union Railways and Canal (Chester and Wolverhai
iap-
ton Line).
London, Warwick, Leamington, and Kidderminster.
Axholme, Gainsborough, Goole and York, and North Midland June.
Hon Railway.
Lincoln, Wahifleet Haven, anti 'Roston Railway.
South Staffordshire Junction and Branches (No. 1).
South atatfordshire Junction (Bilston and Prieattield Branch
2) Railway.
South Staffordshire Junction (Showhill and Portobello B arid,
No 3) Railway.
Southßtaffordahlra Junction (Willanhallkßloswich—No 4'
4)ail Bay #.‘

Arbroath and Forfar ••• ••••••• • •• • •
Bristol and Birmingham . • • • • • • • • • • • •
Chester and Birkenhead . • • •••••• • • ••
Dublin and Drogheda. • • • • • • • • • • • • • • •
Dublin and Kingstown • • • • • • • • • • • • • •
Dundee and Arbroath •• • •
Durham and Sunderland .• •
Edinburgh and Glasgow . •• • ••• • • • • •
Eastern Counties and North Eastern • •
Glasgow, Kilmarnock, and Ayr • . • • ... •• .
Glaszovr and Greenock.. • • • • •• • • • • •
Grand Junction ..... ....... • • • • •• • •
Gravesend and Rochester.• • . • • • • • • • •
Great North of England • • • • • • • • • • • •
Great Western . • • • • • •
Hartlepool ..
London and Biriningham, &c. .• • - •
London and Blackwall.• • •
London and Brighton. • • • • • •
London and Croydon . • • • • • • •• • • • • • •
London• and Greenwich. •••• • • •• ••
London and South Western. •• •• •• .•
Manchester, Bolton, and Bury •• • • ••
Manchester and Birmingham• • • • • • • •
Manchester, Leeds, and Hull Assoc—
Midland Counties ..... • • • • • • • •
Newcastle and Darlington • • • • • • • • • •
Newcastle and Carlisle.. •••• • • • • ••
Newcastle and North Shields•
N0rf01k.......... • • • • • • • • • • • • • • • • • •
North Union and Bolton and Preston
Paris, Corbel], and Orleans ..
Paris and Rouen ..
Preston and Wyre • • • • • • •• • • • • •• • • ••
Sheffield and Manchester • • •• • • • • • • -•
South Eastern.• • • • • •• •• • • • • •• •• • • ••
Taff Vale • • • • .• •• • • • • • • •• ••
Yarmouth and Norwich •••• • • •• .•
York and North Midland ....... • • ••

577
961
255
756
2,341
6,296
1,680
652

•
110

15,160

947
32,404

'6BB
3,548
1,052

4,984
850
3,963
5,131
14,145
2,490
1,477
427
1,222

377
544
914
214
492
1,877
3,872
1,255
688

4,668
4,889

14.183

25,697
1,223
3,282
872

420
1,477
5,058
900
641

4,678

704
3,045
5,041
12,129
1,011
1,449

200
1,311
4,201
4,021

-----
SOUTH-EASTERN RAILV AY.
OPENING OF THE CANTERBURY BRANCH.
The Canterbury branch of the South-Eastern Railway
ws.s yesterday formally opened by the Directors. A
special train, containing the Directors of the South-
Eastern Railway, and their friends, started from the
Bricklayers' Arms station at ten o'clock, and arrived in
Canterbury shortly after two.
The new line, which commences at Ashford, is 15
aniles in length, and is a double line of railway. At
tthe Canterbury end a large concourse of people had
:assembled, to witness the arrival of the first train, and
tthey vociferously cheered it as it entered the town.
The occasion was celebrated by a public dinner, given
In the Corn Excha.ige. About 280 gentlemen sat down,
:amongst whom we noticed Lord Torrington, the Dean
•of Canterbury, Mr. M'Gregor, the chairman of the
;South Eastern Railway ; Mr. Dodd, M.P.; and Mr.
_Fielders, M.P.
Mr. Hooper, the Mayor of Canterbury, presided
-the dinner, the Dean of Canterbury sitting on his left
-land, and Mr. M'Greger on his right.
The cloth having been removed, the usual loyal toasts
were given and responded to heartily.
The CHAIRMAN then gave "The Archbishop, the Very
Rev. the Dean, and the Clergy of the diocese.'
The Dean of CANTERBURY returned thanks, and con-
gratulated the inhabitants on the auspicious event which
they had that day met to celebrate.
The CHAIRMAN then gave the health of the Directors
of the South Eastern Railway, which was received with
loud cheers.
Mr. M'Cramon was loudly cheered upon rising to address
the company. He said, —Mr. Mayor and Gentlemen, on
behalf of the South-Eastern Company, I beg leave to
tender to you our grateful thanks for the kindness and
hospitality with which you have received us to-day, on open-
ing the extension of our line of railway to your cathedral
city, and I am sure we all feel highly honoured in having
been, in any degree, instrumental to the completion
of this great work, which places Canterbury in connection,
by railway, with London, and all those towns to which the
advantages of the railway system have already been extended.
--(Cheers.) The Mayor has made several very flattering
remarks upon the manner in which the works of the Canter-
bury, Ramsgate, and Margate Railway have been carried
out. The merit of the works does not belong to the direc-
tors, but to the abilities of the engineer, who has executed
the plans entrusted to him to the entire satisfaction of the
directors. I feel, when speaking of Mr. Joseph Cubitt, that
I should be doing an injustice to another gentleman who is
now present, if I did not take this opportunity of referring to
his labours upon the South-Eastern line of railway. I refer to
Mr. William Cubitt, the father of the gentleman of whom I
have just spoken.—(Cheers.) The great works which Mr.
William Cubitt carried out, in connexion with the original
line of the South-Eastern Railway—l refer to those between
Folkestone aid Dover—will, as long as the South-Eastern line
exists, cause his name to be associated with its history.—
(Cheers.) Gentlemen, it is true that to arrive here we have
travelled round three sides of a parallelogram, which has in-
creased the length of the journey to at least twenty miles more
than the direct line would make it, the present distance being
somewhat more than eighty miles, whilst the extension of
our Greenwich line to Chilham would lessen the distance
to about sixty miles. Public opinien has decided that the
system of railways throughout the kingdom shall be so corn
pleted that every important city and town shall be brought
into railway communication with every other one, and it is
unnecessary, since the public have made up their minds on
the subject, to dwell upon the advantages which the comple-
tion of the system will afford both in the transit of pas-
sengers and in the carriage of goods. Having spoken of the
proposed extension of our South-Eastern Railway to Chil-
ham and Canterbury, it would not be right to pass O'er the
fact that another and a rival company, likewise, proposes to
effect the same work, and it will be for Parliament to decide
whether that work cannot be intrusted to the South-Eastern
Company with more advantage to the public than if it were
placed in the hands of a separate company. We are of opi-
nion that the system of Kentish railways will work snore to
the advantage of the public in the hands of one company
than if divided among several, since unity of system in the
conduct of railway traffic is of the greatest consequence both
to the economy of the working of the line and to the con-
venience and comfort of those who travel over it.—
(Cheers.) I venture to call your attention to the fact that
the rates of fares charged on the railway are not those which
the law would allow us to charge fir circuitous distances
over which our line passes to some places, as, for instance,
to this ancient city ; but the fares are charged for the short
or diagonal distances, the same, in fact, as they must be
presumed to be if the whole of our projects for which we are
applying to Parliament were already granted, and the lines
executed. Ido not mean to say that no further reduction of
OUT fares can, at any time, take place; because a great in-
crease of traffic, and great economy of conducting it, will
undoubtedly lead to such a result, and we have already had
the greatest amount of evidence that could be desired, that
from a most extensive reduction of fares there does not ne-
cessarily follow a reduction of receipts. On the contrary,
although we reduced the rate of fares on the lst of Ser-
tember last nearly 40 per cent., by an actual reduction in
charge, and by establishing a uniform system of day-tickets,
the number of persons who have travelled over the line has
been increased to such an extraordina extent that the
blieufeoroef;
raanild
way to Ramsgate and Margate, to the opening of the French
amounteare l
000 f
ki money
gfor received
ardte t has been
p as
iso g sae
railways, and to the general completion of the railway
fthasis
system in Great Britain, for a further great accession
of traffic. The extension of the Greenwich Railway
taining a greater population in the miles adjoining London,
WI you know, through a district eon-
ttohatnhistphlacat
existsewwhiiielhpass,
de-
cided in its favour, as being the line best adapted to supply
he visited his own Court of King's Bench. Having heard
the pleadings oa the plaintiff's side of the case, he was
anxious at once to give judgment for him, but being told
by the Chief Justice that the formality oehearing the de- 1
fendant's arguments was yet to be gone through, the King
observed that it was a most embarrassing position to be
placed in, for when he heard what bad to 'be said on
one side only he had no difficulty in arriving at a
judgment, but that when both sides bad spoken he found
himself unable to come to any conclusion at all. And this,
I think, would be the case in many of those localities
where meetings have been held, if the plaus of the rival
companies for constructing the North Kent Railway were
to be submitted to them. The question is a large one, and
well worthy the serious attention of Parliament, where I.
in any other part of the known
world ; and the completion of the railways in the south-
eastern district will, I am persuaded, give of itself an im-
mense increase to the number of travellers in its own imme-
diate circle, and thereby probably enable the Company to
still further reduce their fares. You are all aware that
meetings have taken place in various towns in Kent, called
by the promoters of a particular Company, and those meet-
ings having been generally attended by the partisans of the
one Company, have frequently, though not invariably,
their wants. Now I can only compare this mode of ob-
taining a verdict to the remark made by King James, when
have no doubt it will be fully considered, and where I am
sure a just verdict will be passed on the case. It is not for
the advantage of any one single place that the decision can
ontow whatiti
°n is best
the sfoour
tthh-eEsaTtiethrn- ecasotmerpnandistraitct
be made ; but I am sure that Parliament will look to the
q nestion as a whole—that it will take a comprehensive view
18,11.,tch:nylgh, aadndaltrheaedy
effectembarked,thecompletion the works
of their they
proposedare n o w
linescon -
-r district—and
,setheiongeatphie.
would have for the advantage of the county—it will if it think
that advantage can be best promoted by the South-Eastern
company, commit the construction of the projects in Keut
to the bands of that body. Wherever such a scheme as the
projected North Kent Railway has been committed to a rival
company, the e.ffect has invariably beea that the existing

MONEY MARKET. and CITY NEWS,
CITY, FRIDAY EVENING.
TIMES.—The Public Securities have again advanced, and
Consols, for the Account, were done in the earlier hours of
business at 97%. It is understood the jobbers "prepared
the market" (to use a technical phrase) for the appearance
of the Chancery broker, who was expected as a purchaser.
He, however, did not come forward, and hence several of the
speculators effected sales to realise the profit of the late rise.
Considering the advance in the value of Consols during the
last few days to have been nearly two-and-a-half per cent.,
it is not surprising that we should find parties desirous of
closing their transactions to secure the profit they have se
readily obtained. The market, however, was very steady at
the close of business, and if purchases like those of Wednes-
day and Thursday were again made, prices must go higher.
There was a demand for bills upon Hamburgh to-day,
which rather depressed the rate of exchange upon that place.
Paris, Vienna, and Trieste were, on the contrary, rather
higher than last post; and for Holland and Belgium the
prices remained about the same.
The following letter was sent to-day to the Treasury by
the East India and China Association :
"My Lords,—The non-arrival of the Bombay mail up to
this time, and the little probability of its now reaching Lon-
don until after the outward mail to India is dispatched to-
morrow, force upon us the necessity of drawing your palti-
cular attention to our letter of the sth ult.
" But for the accidental circumstances of an Austrian
steamer being at Alexandria, Government would have been
at this moment in ignorance of the military operations going
on in India ; and the disappointment to the mercantile com-
munity by the want of promptitude in bringing on their
letters is widely and deeply expressed. We therefore again
beg to impress upon your Lordship? attention the necessity
of some arrangement by which such delay may in future be
avoided, and nothing occurs to us more advisable than
having a steamer to run direct between Aleiandria and
Marseilles.—We have the honour to be, &c,
" GEORGE LARPENT, Chairman.
" S. GREGSON, Deputy Chairman.
" To the Right Hon. the Lords of her Majesty's
Treasury."
Some speculators of the higher class are reaping an ex-
cellent harvest from the unfortunate clients of the Accountant-
General, the depositors for railways. Having had the sa-
gacity to foresee that the sums committed to his custody
must shortly come out again for investment, they took their
measures accordingly, and while the money-market was
under continued strain and pressure through the efforts of
the railway companies to obtain bank notes for their depo-
sits, these parties regularly bought Consols for time, and find
themselves now in possession of a large amount of stock,
which they can dispose of at a great profit to the broker
of the Court of Chancery, acting for the depositors.
These unfortunale persons are therefore a butt for all
to aim at, and as regularly victimised as it is possible
to be. Whether they have to buy or to sell, all their trans-
actions are known before they take place ; and their business
being confided to a public officer, who has no discretion in
making contracts, they are sure uniformly to pay the highest
and to receive the lowest price of the day.
We have heard it stated that when these railway deposits
first began to accumulate in this department, and the atten-
tion of the public was drawn to the mode of doing business,
some increase of activity was manifested, and orders to re-
invest were actually obtained in three days after the certifi-
cate was received ; but this could not long be kept up, and of
late—that is, for the last three weeks, when the pressure
upon the money market was most severe—this most essential
process for the relief of that pressure could seldom be got
through in less than eight or ten days. Such sluggishness
is manifestly an incurable disease, and nothing remains but
to deprive the office of this part of its functions, and commit
them to hands accustomed to the practice of banking and
acquainted with the wants of the monied interest.
Those who have most suffered by the crisis are, perhaps,
the merchants and traders of the middle class, who in point
of general credit are trustworthy, and their bills usually in
as ready acceptance for discount as the class above
them • but as they commonly carry on their business by
draughts at four months or longer, to enable them to make
their returns, they have been often left altogether without
accommodation. The bankers and the great discount brokers
were preparing for the calls to be made upon them by the
railway companies for the deposits, and a bill having so long
a period to run, though its soundness was unquestionable,
hneomacc accessoun tstowiittshtheßl facilities,
would not even be looked at. These parties were in the habit
of trusting heretofore for help to their own bankers, or to the
discount
Eng-
landboufttheyfound there most unexpected and liberal aid, without which
numbers of them must have yielded to the pressure. Bills of
small amount and of long dates were as freely taken es the
longer engagements of the superior merchants, and at rates,
though of course somewhat above the Bank limit in their
loan transactions, not materially so.
shoualdndgikveep kept
This being the last day for receiving payments for railway
deposits, money for that purpose has been in active demand,
the more so in consequence of the Report of the Committee of
the House of Lords, which has reduced the amount required
from le to 5 per cent. ; but it has net probably been made
public in time to peat extent
material alteration. New
arrangements to any great extent were not practicable in the
course of the few hours that remained. The whole amount
nderstood to be very near 11 000 0001.—a de-
posits is is Howe
to deal with • the of
passed to the credit of the Accountant-General, for such m
management the
ficiently largsum
reulation ; and unless some greater dispatch than for the
cljast fortnight is adopted at the Accountant-General's office,
the prassorn on the Money-rnarket, which many persons were
r severity than ever.
Since writing the above, we have heard that the actual
amount of the deposits has reached 11,492,0001., exclusive of
the obligations of the chartered companies, who may give
bond under their common seal for the amount, which is pro-
bably a full million more, and exclusive of Scotland and Ire-
land.greater
thinkas
Of this gross sum, orders have at present been given
for the investment of 2,000,000/. in Stock and Exchequer-
hills, of which about one-half has been already invested.
CHRONIGLE.—The deposit crisis may now be looked
upon as fairly.at an end. The depression in the public se-
curities, occasioned by the sales of Stock on the art of Accountant-
wayrail-
committee,:
etechpniroevriederathied money for tphreev;ens
General, has been followed by a re-action for the rise quite
as great and
the Court of Chancery has been
about 11,000,000/. Our contemporary, who would not
take it for some time at a farthing less than 30,000,0001.,
now admits that nine millions is about the mark, and
his recent descent to 5.000,000/. was
that quite as
wide of the truth as his former estimate of
The standing orders have been coin-

London Money-market, when they profess to soar above
mere common place' and in the present case the state-
ments made are at direct variance with the testimony of
the best informed persons in the Colonial market, in
Mincing-lane. That considerable difficulty has been expe-
rienced in the commercial discount market is an undoubted
fact, as we have repeatedly stated ; but at the same time the
opinion was universal that the pressure would be but tem-
porary, and great forbearance was consequently exercised,
and it is altogether a mistake that great losses had been sus-
tained by forced sales of mercantile property. We are quite
aware that by showing this to be the actual state of the
matter it may be presumed that we are making out a case
in mitigation of the mischief done by the Times, for in pro-
portion to the extent of such sacrifices, so in proportion is
the turpitude of that director of public opinion. Such a de-
duction would not, however, square exactly with the truth.
The averment that immense sacrifices of property have been
made is only following up the same principle previously
acted upon, namely, to propagate distrust and suspicion even
beyond the advent of the railway deposits, for the ob-
vious inference is, that the persons that have been com-
pelled to make the said sacrifices must now be in doubtful
credit.

PUBLIC MEETING IN SUPPORT
OF SIR R. PEEL'S MEASURES.
NorrnionAm, FRIDAY.—Last evening a public meeting,
convened by the Mayor (Thomas Herbert, Esq.), was held
in the Exchange-rooms, which were crowded to excess by all
classes.
The business of the meeting commenced soon after seven
o'clock by the Mayor taking the chair.
The MAYOR said, that in compliance with a requisition,
he had felt it his duty to convene the present meeting, which
might be viewed as one of congratulation.—(Hear, hear.)
But two months ago there had been a meeting in the same
hall, to memorialise her Majesty's Government to open the
ports, and to petition for an object which they might now
regard as consummated.—(Applause.) It was interesting to
note the progress of public opinion ; one convert after an-
other had been added to their ranks—change had succeeded
change—and a general conviction of the impolicy of the re-
strictive system was now prevalent.
Mr. W. CRIPPS, merchant, on rising to move the first re-
solution, said, he had long looked upon the corn-laws as en-
tailing evils upon the merchants, manufacturers, artisans,
and labourers, and he verily believed while they inflicted se-
rious injury upon these parties, they had never done the
slightest good to any one class, not even to the landholders
themselves.—(Applause.) He expected, if they lived twenty
years longer that the trade of this country would be doubled ;
at least he saw no reason why it should not. He had tra-
velled many hundred miles through the farming districts in
the Illinois, Indiana, and the Missouri, where he found an
immense quantity of agricultural produce and food, such as
Indian cern, wheat, and maize; but as a class of farmers,
he had no hesitation in saying, there are no people in the
whole of the United States of America who have so few com-
forts as these farmers have. They have everything they
want in the shape of food, and they have nothing of those
things which we sell.—( Hear, hear.) He went into many
farm• houses there, and he saw abundance of food, but at the
same time he saw the farmer, his wife, and children, siesti-
tute and in rags, and without knife, fork, glass, crockery,
and other comforts, the produce of the towns in this country.
—( Hear, hear.) Why is this the case ? Because our laws
have stepped in and forbidden an interchange. But now
there will be free interchange, and there will be a wide field
open for trade and commercial enterprise.—(Applause.) He
would not trouble the meeting further, but at once read his
resolution, which he bogged to move, namely :
" That the thanks of the meeting are due to Sir Robert
Peel and her Majesty's Government, for the important and
statesmanlike, commercial, and social measures proposed by
them for adoption by Parliament."
Mr.V. BAILEY (an influential Conservative) very cordially
seconded the motion.
The resolution was then put, and unanimously adopted.
The Rev. W. LowooD rose and was received with loud
applause. There was one good result, he said, which had
already followed the announcement of the measure proposed
by Sir R. Peel ; a result almost as grand in itself as the
results that they believed would follow the accomplishment
of free trade; namely, that it had already destroyed party.—
(Hear.) They heard nothing now of those factions that
used to disturb the political world with their everlasting
wrangling. Instead of that, they saw Whig joiniwngnTotrya,
and Tory joining Whig; all willing to unite in drawing b
funeral car of monopoly.—(Applause.) He bad to move that
a petition be sent to the House of Cominoi?ii in support of the
measure proposed by her Majesty's Ministers
forward . I
forward
full
honour to the man who brought the measure
" The petition of the undersigned inhabitants of the borough
of Nottingham,
" Showeth—That your petitioners have learned with the
highest satisfaction the introduction into your Honourable
Ilouse by her Majesty's Ministers, of most important mea-
sures as to the free importation of food, as to the tariff,
and as to other matters of legislative regulations. Your
petitioners consider these measures to be based on true
and sound principles, and to be calculated to improve the
agricultural and commercial interests, advance the social
condition, and strengthen the political relations of Great
Britain.
~ That your petitioners deem it wiser and more for the
benefit of all classes to repeal the existing corn-laws at once,
but that if the advocates of protectitm to agriculture, thmigh,
as we believe, with mistaken views, prefer the proposed re-
duced duties, and the postpoiwaient of total repeal for three
years, your petitioner wovla ennflite her Majesty's Govern-
ment to carry out th.:a proposed measures in the most prac-
ticable mode.
"Tour petitioners, without referring specially to the other
proposed accompanying matters, desire most earnestly the
cordial support of your Honourable House to these measures
of Government as a whole.
" And your petitioners will ever pray, &c."
In conclusion, lie had great pleasure in moving that the peti-
tion be forwarded to the House of Commons.—(Applause.)
The proposition was seconded by Mr. BRAN, and carried
unanimously.
Mr. Alderman HEARD moved, " That although this meet-
ing considers the immediate repeal of all restrictions on the
free importation of food as the course most for the advantage
of all classes of the cammunity, they deem the measures pro-
posed far too important not to be accepted and cordially sup-
ported."
The motion was carried, and after the transaction of some
further business, the meeting broke up at twenty minutes to
nine o'clock.