The Sun.
London, England, 1848-05-30 00:00:00

THE SUN, LONDON, TUESDAY EVENING, MAY 30, 1848,

LAW INTELLIGENCE.

PRICES OF SHARES.

INSOLVENT DEBTORS' COURT, May 29

IN BANKS, ASSURANCE, AND OTHER COll,

IN RE GEORGE ROSS.

This insolvent, the manager of the " Heir-at-Law
Society," appeared again today to undergo examina-
tion upon his petition for protection.

PANIES' STOCK.
From the Official List,

PUBLISHED EVERY TUESDAY AND FRIDAY EVENING,

Mr. NicsoLs supported.
Mr. SARGOOD opposed as before, and examined the
insolvent at great length respecting his connexion with
the Heir-at-Law Society ; the result of which was,
that . . _

LONDON. TUESDAY. MAY 30.
TOtNT-STOCIL BANKS.

• Dividend Amount
same of Company. per of Paid. Price
Annum. Share.
•-- -.----- ---- -
A.ustralasia - •• • • • • • • 40 0 0 40 0 0 16
Britsh North American 61. per cent. 50 0 0 50 0 0 -
Ceylon • • .. 61. par cent. 25 0 0 25 0 0 -
..;ommercial of London 61. per cent. 100 0 0 20 0 0 -
:lolonial . • •• • • • • .• • •• 51. per cent. 100 0 0 23 0 0 -
Gloucestershire • • • • • • 15/per cent. - - -
lonian • • • • • • .. • • • • • • 6/. per cent. 25 0 0 25 0 0 -
Loniln and Westminstr 61. per cant. 100 0 0 20 0 0 22
- - 13 0 0
London Joint-Stock . • • i 61. per cent. 50 0 0 10 0 0 14%
Provincialof Ireland" 81. per cent. 100 0 0 25 0 0 -
Ditto, New... ••• • • • 8/. per cent. 10 0 0 10 0 0 -
National of Ireland •• 151. per cent. 50 0 0 22 10 0 -
Nat. Provncial of Eng. 61. per cent. 100 0 0 35 0 0 -
Ditto, N•-,..... • • • • 51. per cent. 20 0 0 10 0 0 -
South Australia ...... - - 22 10 0 -
Union of Australia... • 61. per cent. 25 0 0 25 0 0 23
Ditto • • • • .. - •• •• •• - - 2 10 0 2
Union cf London... • • 61. per cent. 50 0 0 10 0 0 -
Union of Madrid - 40 0 0 40 0 0 -
•
INSURANCE COMPANIES.
Dividend Amount
Name of Company. I per of Pald. Price
Annum. Share.
Albion - •• • • •• . • • • • • 31. 10s. 500 0 0 50 0 0 75
Alliance Brit. and. For. 6 per cent. 100 0 0 11 0 0 16
Ditto Marine-- • • 6/. per cent, 100 0 0 5 0 0 -
Atlas . 138.6 d. pr sh. 50 0 0 5 6 8 13'i
British Commercial .. 7s.per share 50 0 0 5 0 0 6
Clericl,Mcd.& Gen. Life 51. per cent. 100 0 0 10 0 0 19
C minty .. ............ 31. 100 0 0 10 0 0 -
13s. AO 0 0 5 0 0 11
Eagle 6s. 50 0 0 5 0 0 6
Eng.& Scot. Law .... 5/. per cent. 50 0 0 2 12 6 -
European Life • • • • • • 5% per cent. 20 0 0 All paid. -
Family Endowtno t Soc. 41. & be. 4 0 0 4 0 0 -
Freemasons' ..... • • • • 5/. per cent. 20 0 0 3 0 0 -61.0 be - 118
eivardian .......• • • • • 51. per cent. 100 0 0 36 10 0 44
Imperial Fire .....• • • 12 per cent. 500 0 0 50 8 0 218
Imperial Life ...... •• 12s. 100 0 0 10 0 0 15
Indemnity Marine.. • • 11. sit. & bs. 100 0 0 5 13 1 25
Law Fire - .......... - 100 0 0 2 10 0 -
Law Life.... ....... . 11. ss. 100 0 0 40 0 0 45
Legal and General Life - 50 0 0 2 0 0 41 Os.
London Fire . . .• •• •• 10s. 25 0 0 12 10 0 -
London Ship .... •• -10 s. 25 0 0 12 10 0 13
Marine.. • .. •• •• •• • • - 100 0 0 15 0 0 -
Med. Invlld&Gen.Life 0,61. per ct. 50 0 0 2 0 0 3
National Lean Fund.. 51. per cent. 20 0 0 1 2 :0 0 -
National Life......... 8/. per cent. 100 0 0 5 0 0 -
Palladium Life.. ..... . 51. per cent. 50 0 0 2 0 0 -
Pelican - - - 33
t'nce nix .. - - 158
PI otector Life.... • • . Si. per cent. 20 0 0 , 1 0 0
Provident Life...-. • • 11. ss. 100 0 0 ; 10 0 0 -
Rock Life -.... ...... 4s. 5 0 0 0 10 0 4%
Royal Exchan;re - 160
San Fire ....... • • - - -
Ditto Life..... - 1 - -
Universal Life.....• • -
Vhrtoria Life . - - I 4 0 0 4
BRIDGES
Dividend Amount
Name of Company. per of Paid. Price.
Annum. Share.
---
llungerford .... - X. s. d. X. a. d.
- - 45
S'outhwrk, NW Sub.lv - 632 12 8 - 3
Ditto Nw of 7% p.c 3ss. per cent. 50 0 0 - 15
Waterloo • - 100 0 0 - 5
Ditto Old Ann. of 8/ l/. ss. 4d. - 60 0 0 27
Ditto Nw ditto of 71 ll. 2s. 2d. - 40 0 0 28
Vauxhall.... . • . Av I/. 16s. 70 10 3 - 27
DOOMS.
Dividend Amount
Name of Company. per of ' Paid. Price.
Annum. Share.
--- -
£ s. d. £ N. d.
C •mmercial . - -
East and West India 6l. pr cent. Stock. - 114
East Country - 21
Lunde,: 5/. pr cent. Stock. - 102
Ditto Bonds.. •••• • . 4/. per cent. - - -
81. Katharine .... • • .. 5 per cent. Stock. - i 77
Ditto Bonds.- - i -
Southampton •• .. - - ! 2/. per cent. 50 0 0 5O 0 0 1 -
WATER-WORMS.
i Dividend Amount
Name of Company. per of raid. Price,
Annum. Share.
, -
£ s. d. .£ s. 0.
Birmingham . • • • • • • • • 18s. f 25 0 0 5 0 0 -
East London..• • • • • • •• 8 178
Grand Junction • • • • •• 21. 11'00.- 80
3/. 100 0 0
114001
130
40
- 75
New Rivr Lndn Brdge 21. 10s. - - 55
Vauxhall •• - •• •• • • •• 100 0 0 - -
West Middlesex • . . 151.15cprcnt. 63 12 9 - 117

bin Commissioner PHILLIPS expressed his belief that
the insolvent represented the whole society in his own
person.
Mr. sARGoon then applied for the adjournment of the
case, that the books relating to the society might be
given up to this Court. the insolvent having hitherto
refused to do so, alleging that they were the property
of the directors and that he had no control over them.
Mr. Commissioner PHILLIPS said that application
must be submitted to the Chief Commissioner, for whom
he sat, who had heard the previous portion of the evi-
dence.

--Thomas Philip Davies, a most miserable-looking man,
with but one leg and his right hand paralysed, who on
the first hearing complained of the insolvent's conduct
towards him, informed the Court to-day that insolvent
told him that morning that he might wish his wife and
children good bye, for he would find himself in White-
cross-street Prison shortly.
The insolvent said, he had told Davies that the course
he was pursuing towards him would be prejudicial to
himself, as the directors of the Heir-at-Law Society
would arrest him, in order to arrive at the state of ac-
counts between them.
Mr. Commissioner PIIILLIPS said, he considered the
holding out such a threat to deter a witness from giving
committal. lf.act H e a
evidence was a most impudent and audacious interference
to contempteer
t Io ly
not
with publicjeulistiwceesitahnyd
ofa amounted,eemm
wouldofcourtw
think of renewing the insolvent's protection.
The further hearing of the case was then adjourned
until Saturday next.

COURT OF BANKRUPTCY, May
(Before Mr. Commissioner SHEPHERD.)
/N THE BANKRUPTCY OF /MAY AND REAP.
The bankrupts were extensive wine-merchants, carry-
ing on business at 64, Mark-lane, in this city. The
house stopped payment some months ago. An attempt
to wind up the affairs of the estate under a private ar-
rangement was made, but it failed. It was stated that
Messrs. Reay were willing to guarantee the payment of
ss. in the pound. The majority of the creditors were
willing to accede to this proposal, but a few demurred,
and the bankrupts were obliged to resort to the Gazette.
The fiat was issued on the 6th of last month, on their
own petition. This was the meeting for the last exa
mination.
Mr. Lawrence supported the bankrupts.
Mr. Borrodaile appeared for the assignees.
The following is a copy of the balance-sheet, pre
pared by Mr. Croysdil; it commences January 1, 1843
and ends April 6, 1848:—
Dr.

£ s. d.
... 17,692 6 9

To creditors ...
Ditto holding securi-
ties
Ditto liabilities holding
securities ... 15,255 0 11
Ditto liabilities —. 21,494 0 0

... 11,049 17

36,749 0 11

£65,491 5 7
... 12,013 16 7

Capital Jan. 1, 1543
John Iteay, jun.—
Office value of poli-
cies deposited with
Glyn and Co. ... 3,052 15 0
Amount borrowed on
deposit of policies
and brought into
the firm in October
last

... 1,800 0 0

Craven Arms at Coventry, made
over to lig by J. J. Hart, on grant-
ing him an annuity, and which he
survived but a short period
Profits on trading...

01' SCOTTISII COIUP.A.NIES' PRICEb.

Name of Company.

Dividend
per

Amount
of
Share.

Paid. 1 pri,

Annum.

existing navigation-laws ; subject to such modifica-
tions as may be best calculated to obviate any proved
inconvenience to the commerce of the United Kingdom
and its dependencies, without danger to our maritime
strength." He wished it had fall, nto the lot of some
other person than himself to address the Houle on the
momentous question which had been brought before it
and the country, by her Majesty's Government. He
thought the Government would have adopted a wiser
course if, instead of moving resolutions in Committee,
they had brought before the House separately and dis-
tinctly the propositions on which they intended to found
enactments, in order that the Members of the House
might be able to espouse such of them as they agreed to,
and oppose such as appeared to them not to be fit subjects
for legislation. The Right lion. Gentleman had, how-
ever, proposed a sweeping and comprehensive resolution
acconpanied by some modifications, not many but im-
portant, and which they were left to gather from the
speech of the Minister who introduced the subject to the
House. It was for this reason particularly that
he adopted the course he had taken, with a view
• of inducing the House to express an opinion in opposi•
tion to the sweeping proposition of the Government, and
. at the same time to give the country an assurance that
the great and main principle of the navigation laws
would not be altered. The Right lion. Gentleman hav-
ing referred to the appointment of the Committee of that
House on the navigation-laws, said that as that Cons-
- mittee had made no report to the House the Govern-

ment ought to have proceeded to make farther investi-
gation on the subject before they proposed a measure in-
lee volving such portentous results, especially as there was
not the shadow of a shade or any necessity pressing upon
them to bring it forward at the present 'moment.—

(Hear, hear.) Another reason which induced him

bring the subject forward was this, that the other
:Li House of Parliament bad adopted the wiser, the safer,
and the more constitutional course, of investigating
' the subject. A portion of the evidence taken before
that Committee was before them, and it was of such
a nature as to afford grounds to those who opposed
the measure to resist its further progress, or, at least,
to delay it.—(Hear, hear.) It was possible—nay, it
was very probable—that their inquiry would lead to
a result diametrically opposite to that which had been
hi come to by her Majesty's Government.—(Hear, hear.)
What was the plan of the Government ? It profes,ed
to destroy the protection which had heretofore been

given to the British seamen and to British shipping, and
os.
even the trade with their own colonies.—(Hear, hear.)
_ The coasting trade was alone excepted. The Right Hon,
Gentleman alluded to their fisheries. He understood
the Right Hon. Gentleman to say that only certain fish-
ing grounds now established by law would be protected,
but that the produce of the deep-sea fisheries would be
admitted into this country in British or foreign ships.
If that were so, he had nothing to do with the navigation-
laws. All protection was to be removed, while
the British seamen and British ships were still
A to be exposed to all the onerous parts of
the navigation-laws. They were left to bear the
heavy burdens imposed on them, not for any benefit of
their own but for national purposes, whilst that
_ protection without which they could not bear those
burdens was to be removed.—(hear, hear.) He should
he much astonished if any Parliament should be suffi-
ciently unwise to pass such a measure.—(Hear, hear.)
The Right Hon. Gentleman said that this was a most
import measure, and far more extensive than any pre-
vious proposition which had been made at any time to
Parliament. That was perfectly true. It was a most
important change, and no legislator, however free his
opinions on the subject of trade generally, had ever yet
' proposed the repeal of the navigation-laws. Mr. Hut-
kisson had never made any such proposition. But
he thought that some strong and urgent case of neces
sity would have been made out fur having recourse to
a measure involving such vital consequences—the weal
tee. or woe of England. The Right Hun. Gentleman, how-
ever, had stated nothing to justify a measure of this
kind. The Right Honourable Gentleman said that
there was a pressure on the part of some foreign coun-
tries. From England there was none.—(Cheers.) It
did not exist.—(Hear, hear.) The Right Hun. Geutlman
said that there were emphatic applications from three
quarters—from Prussia, America, and Jamaica. Now,
with what right or propriety could Prussia come to this
country to ask, in a kind of menace, for a repeal of the
navigation-laws?—(Hear, hear.) Prussia came before
them, after having shown for twenty years or more every
disposition on our part to meet fairly and fret ly the
commercial interests of Prussia. They had entered
into treaties with Prussia, by which she derived great
benefit to that naval interest which she was, above all
things, desirous to foster. The tonnage of Prussia, as
against England, was enormously increased. It had in-
creased two or threefold, whilst the amount of British
ships in the same trade had diminished.—(Hear, hear.)
' He was a party with Mr. Huskisson to the treaties by
which Prussia gained those advantages, and he never
repented of the course he had taken, because, where
they could promote trade and commerce by mutual con-
cessions, there the more stringent provisions of the
navigation-laws might be relaxed in favour of higher
considerations.—(Hear, hear.) But what right had
Prussia to come to them at the close of this long reci-
is procal compact, and to ask for more? What was there
in the character of Prussia to frighten them from their
!q; propriety, or what right had she to insist on such an
enormous concessions as the abolition of their navigation-
laws? What could Prussia give them in exchange ?
a (Hear, hear.) By the last return which he could pro-
cure he found that Prussia took only 500,0001. worth of
3% their manufactures, whilst they took produce to a much
se2
a% larger amount from Prussia. Of all the powers of the
9 continent it least became Prussia, which had, as the
principal state of the Zollverein, been carrying on an
3 aggressive policy against them by her high tariffs, to
- make such a demand. He hoped that seine better grounds
6d would be alleged to induce them to alter their navigation-
laws, by means of which the country had heretofore
4, maintained her naval power, but which, he believed, if
7 abolished, would sink and decay.—(Hear.) But it was
.od. said that America invited them. Now, with all possible
respect for America, he would say that it must be ad-
-7 !flitted that America never made any proposition to
7, another state with regard to which America did not
)36d. believe that she would be greatly benefited.—(Hear,
2 hear.) Their brethren on the other side of the Atlantic
la lid not want smartness when such propositions were to
o be made. America said that she would abolish her
oenavigation-laws if we abolished ours. But America
914 could give us no equivalent advantage for the benefit
Ad which she would obtain by the abolition of our naviga-
tion-laws.—(Hear, hear.) Where were her colonies?
She had none. If America was so desirous of getting
CO rid of the navigation- aves, why did she not begin by
abolishing her own, which were quite as stringent as
--those of ds country.—(hear, hear.) The bargain was
not equal—the terms were not just. Mr. Bancroft said
that America was disposed to meet this country. He
believed it was the opinion that assurance was not
; a quality wanting to American statesmen, but the pre-
; sent proposition went even beyond that.—(Hear, hear.)
Then it was said that their colonies asked for the alte-

Iration of the navigation-laws. He believed that enough
had passed since some of the colonies petitioned that
House to make them alter their opinion. Enough had
transpired he should hope to satisfy the Right Hon.
Gentleman and the House that in truth it was not the
14 interest of the colonies, and particularly of their West
Indian colonies, that the navigation-laws, with all their
concomitant conditions, should be repealed.—(Hear,
- hear.) The evidence of thirty merchants, of character
and respectability, who were examined before the Lords'
Committee, greatly preponderated in favour of the
opinion that the colonies did not wish for their abolition.
The evidence of these gentlemen would, he hoped, put
an end to all doubts on this subject. The Right
Honourable Gentleman read a document, Vt, hioh had been
presented to that House from the House of Assembly of
Jamaica. That petition was of very doubtful character,
One of the members of that assembly, in his evidence,
stated that there was no such document at all, and that
there could be none such. In that he was mistaken.
But he then said that it must have passed at the close of
the session ; that no attention was drawn to the subject;
and that in that evening it might have escaped his no-
tice as well as that of others. If, instead of giving up
our colonial trading to free competition, we had given
up, as much as he could get, of our coasting trade, to
the foreigner, it,would have been far better than the plan
proposed by the Government. He had no objection to
go into Committee, with a view to the removal of those
anomalies, which it was confessed by Mr. Huskisson
among others most distinctly, existed in our relations
with the Dutch trade, for example, but he implored the
House not to assent to any fundamental changes in
our navigation-laws. There could be no doubt
that our navigation system, so intimately con-
nected with the preservation of our siaval supremacy,
must be maintained in all its essential features, if we
desired to maintain our naval supremacy. All our
greatest statesmen had held by these laws, as being es-
sential to our maritime well-being. Mr. Huskisson had
emphatically proclaimed that should our commercial in-
terests come into collision with our navigation system,
our commercial interests must give way. There was no
commercial advantage which he would not strive to se-
cure for this country, if it could be shown that the ad-
vantage was not purchased by a sacrifice of a portion of
our naval supremacy, for he felt that if this supremacy
were weakened, our foreign possessions would slip
through our fingers, and we should speedily subside into
the position of a second or third-rate power. Let it never
be forgotten how great was the interest here at stake.
The tonnage of the vessels engaged in our merchant
traffic was not less than four millions of hundred-
weight; the sailors who worked these vessels num-
bered no fewer than 230,000; the capital embarked
in the trade was not less than forty millions sterling,
while the trade immediately connected with the
interest represented a capital of between sixteen
and seventeen millions. The number of artisans
employed in connexion with this interest was 80,000,
whose wages amounted to no less than 5,900,000/ ster-
-9li,nogo,o,tohoeuv
ht carried being
astfrinipusalofcrceuigpyinga sum of
He begged, therefore,
not under 30,000,000/. sterling.
ie t 4
sterling,a' iaga no df tthhee
to move the amendment.

Mr. LABOUCHERE said, that having already fully
explained the intentions of the Government, he should
confine himself to a very few observations on the present
occasion. The question was, whether the House would
affirm the ancient policy of England, or deviate from it
to a very great extent. The amendment of the Right
Hon. Gentleman had very fairly put the question at
issue before them. He had considered it to be
his duty to propose the measure now under
consideration, and he was prepared to stand by
it. He had listened with great attention to the
Right Honourable Gentleman, but had failed to make
out' clearly what he meant to propose. He had in one
part of his speech seemed disposed to alter the naviga-
tion-laws—if foreign nations would meet England half-
way. In another part he declared it to be his opinion
that the navigator.-laws, as far as the colonies were
concerned, ouguL in support
ieiaxed, hod he quoted Mr.
Huskisson's opinion support of his views. But he
(ALL I,abouchere) doubted whether; under the present