The Sun.
London, England, 1846-06-03 00:00:00

ROLLS' COURT.-(THIS DAY

MARTIN V. SEDGWICK.
The arguments in this case were resumed.
Mr. TURNER, on the part of the appellant, replied at
vreat length to the arguments on the opposite side, and
contended that the question at issue was one that came
clearly under the law respecting real property, though
it had reference to shares.
Lord _LANGDALE, in giving judgment, reviewed the
whole facts of the case. He said, this was one of those
unfortunate cases, where the Court was called on to de-
cide to the detriment of an innocent party. It appeared
that, in 1832, a Mr. Dunlop caused to be transterred
in the name of a Mr. Sedgwick, 200 shares in the Rock
Assurance Company, he holding these shares in trust
for him and his heirs. The first question that arose was,
whether by the constitution of these acts a shareholder
was a partner, and whether the notice served was to be
considered as a sufficient notice to the Company. He
was clearly of opinion that such was not the case. It
did not appear, moreover, that there existed any cir-
cumstance to prevent Mr. Dunlop giving that notice
which would have subsequently prevented any in-
terference with the rights of the party justly en-
titled to these shares. These shares standing in
his name, he was certainly at liberty to dis-
pose of them in any way consistent with the
rules of the Committee. During the whole period, the
interest of these shares had been paid to Mr. Dunlop.
[t appears, from the answer, that he applied to a Mrs.
Sutherland for a sum of money, in security for
which he gave these shares as a pledge, and he
executed an assignment to that effect. Mrs.
Sutherland subsequently advanced a further sum
of money, making altogether a sum total of over
2,0001. The shares not being adequate to meet so large
a demand, Mr. Sedgwick gave other shares as a secu-
rity, and made arrangements by which these shares
should be so disposed as to liquidate in part his debt
to Mrs. Sutherland, and the debt was reduced
to 1,500/ Under all the circumstances it was
evident that the plaintiff had a clear right to have
a full account of what sums remained, respecting the
claims of Mrs. Sutherland. A question might certainly
arise between the co-trustees, but here the: case was
perfectly clear, and Mrs. Sutherland was clearly en-
titled to have those shares turned into money for her
benefit. This did not apply to the interest that had
accrued on the shares, and though no blame could be
attached to Mr. Sedgwick, yet on this point the law
was against him.

VICE-CHANCERY.-(THIS DAY.)
(Before the VICE-CHANCELLOR Of ENGLAND.)
GOODMAN V. DE BEAUVOIR.
This case came before the Court upon an applica-
tion to dissolve an injunction that had been granted re-
' straining the Warwick and Worcester Company from
paying the sum of 21,000/. The plaintiffs are repre-
sented to be all the shareholders of the Company, with
the exception of the detendauts, who are the directors
of the Company ; and the grounds on which the appli-
cation to dissolve the injunction is founded are,:that
the facts upon which the injunction was granted w ete
not fully stated to the Court, and that in several re
speets they were perverted.
The case appears likely to occupy more than this day.

MISS JULIA. BENNETT'S BENEFIT.—That delightful
and fascinating actress, Miss Julia Bennett, takes her benefit
this evening at the Haymarket, on which occasion the fair
beneficiare appears for the first time as Lady Teazle, in the
School for Scandal. We expect that Miss Julia Bennett
will make a great hit. Her youth, her beauty, her archness,
and her lady-like manners, all combine to point her out as
an admirable representative of the part. She afterwards
appears as Gertrude, in the Loan of a Lover, with Webst
ano-
as Peter Spyk. In addition to these attractions, e
Wilhelmkue is to perform a fantasia on the
grand pi errr
Her
forte. There can be no doubt but that the house will be a
bumper.
GENERAL THEATRICAL FUND.—We re gratified to
learn that his Grace the Duke of Devonshire liberally
subscribed ten
guineas annually to this most excellent insti-
tution.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were 4,000
bales, of which 1,000 were on speculation. Besides this,
2,000 bales had been taken on the previous evening on spe-
culation, after the usual hours of business. Shares were
very quiet, but firm.
Messrs. Laeaond and Co's sale of Railway shares went off
rather dully but at about previous rates. Wexford, Water-
ford, and Valentia, Ss.-Leicester and Bedford, 1/. 6s. 6d.-
London and Manchester, Remington's, 14s. 6d.-Goole and
Doncaster, 1/. 10s.-Essex and Suffolk, 12s. 6d.-South
Midland, 1/. 10s.-Warwick and Worcester, 10s.-Exeter,
Yeovil, and Dorset, 1/. IN.-Brecon and Merthyr Tydvil,
&1.-Welsh Midland, 1/. 2s. 61-Waveney Valley, .d.-
Great Eastern and Western, 195.-Buckingham 21. 2s.
-East Indian, 15s. 6d.-Jamaica South Midland, 17s. 6d.-
Calcutta and St. George's Point, 55.-Last Dereham and
Nomich, Bs. 6d.-Vale of Neath, 1/. 10s.-Direct London
and Exeter, 4s. 6d.
Share peculat ion is worthy of all censure, no doubt, where
it degenerates into mere gambling, and impedes the progress
of the lines really wanted, by forcing a host of valueless
schemes into even temporary favour. In a publication which
is in the eighth edition, entitled a " Short and Sure Guide to
Permanent Investments in Railways," it is contended, partly
with a show of reason, though not fully to our satisfaction,
inasmuch as we would discourage mere scheming, that the
fresh accumulation of capital somewhere made " comes into
the hands of the railway company in lieu of the stock which
they previously held. Then commence their payments to
ironmasters, contractors, engineers, mechanics, and la-
bourers, which-by seine perversion of terms, or of
mind - has been described as a locking up of
capital till the line is completed and making
returns.' On the contrary, is it not essentially a
circulation of capital-a circulation giving life and vigour
and activity to industry and trade-and ultimately
creating the means of making fresh accumulations, to
be again concentrated and again dispersed in the employment
of the skill and labour of future generations. So little of the
capital of the country, comparatively, is yet appro-
priated to railways; so few persons regard them as
ordinary and legitimate modes of investment ; that
when the means at the disposal of these few are
absorbed, there is usually a pause, which is followed
by a pressure upon the money market; and when (as
last year) such transactions are entered into by per-
sons who have no means whatever, instead of a pause there
is a crash. But the same thing occurs occasionally in every
other department of enterprise ; and there is nothing con-
nected with it which can be considered peculiar to railways
except the disproportion, already noticed, between the small
number of investors and the increasing amount of stock."
Ihe mercantile news by the Overland Mail is rather more
satisfactory, but still not indicative of an active demand for
British fabrics, while the value of Indian produce, rice and
indigo for instance, was advancing.
The Public Securities have been very firm and there has
been a moderate business done. Consols are 96% , for
Money, and 971/8 to 1/4 for Account. Exchequer-bills have been
marked 16s. to 20s. premium, being rather firmer. Bank
Stock is quiet at 2051,4,. The New Three-and-a-Quarter per
Cents. have been 97% 34, and the Three per Cents., 951 3/4.
The Foreign Securities have been dull, Portuguese Four
per Cents. are 54 ; Mexican have been 29) to 3014 ; Dutch
Two-and-a-Half per Cents. are 601/8.
In Shares there is not much tieing, but they are firm ge-
nerally.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK
(From the Official List.)

Bank Stock • • • • • • •. 2054
Three per Cent. Reduced Annuities • • 955{ ,4
Three per Cent. Consols Annuities .. • . 963 %
New Three-and-a-Quarter per Cent. Anns. 97%4%
Long Annuities, Expire Jan. 5, 16E0 .• 101 A %
India Stock .. .. • • • • • . • • 266
India Bonds, 1,0001. • . .. • • • • • • 27
Consols for Opening .. .. • • • • • • 97 g
Exchequer Bills. I%d. 14d.
1,000/. .• • • 16 20
Ditto, Advertised .. • . 16 12
PRICES OF ?FOREIGN FUNDS AT ONE O'CLOCK.
Mexican Bonds, 1837, 5 per Cent •• 29%
Ditto, for the Account • • • • 3014
Ditto, Deferred • • • • 16
Portuguese Four per Cent 52% 54
Dividends on the above payable in London.
French Rentes, 5 per Cent. .. 120 f. 50c.
Exchange • • • • • • • • • . 25f. 75c.
Dutch Two-and-a-Half per Cents. 6038
Ditto, 4 per Cent. Certificates .. 92%1A 91%
BUSINESS DONE IN RAILWAY SHARES AT ONE O'CLOCK
RAILWAYS. PAID. PER SHARE.
Birmingham and Oxford. Junction .•2..••2% % .. to l:uctingliamshire .. • • • • • • 425. .. • • par.... to % p
Caledonian • • ..••••• • • 10 .- 1134 .. ••to Ditto Half Shares .. ••• • 2% ... • 134 .. •• to
Chui net and Blythe .. • • • • • . 2 •• • . 1,43.... to
Cheltenham
an.l Oxford .••••• 2 . • • 1% to Derby and Crewe .. ••••2%•• 6% • • • to
Direct "Northern .• ••••••2%.• 1% % .. to --
Eastern
Counties .. . • • • 14/. 16s. 0d... •• 23 .. to
1
Ditto,
York Extension .. • • • • 108. .• • • 1% .• • • to
oole, Doncaster, and Sheffield, Ste.. • 425. •••• dis. to
Great
Southern and Western (Ireland) 20 .. • • 23 .. • • to
Leicester
and Bedl;ird ••• • • • 225. %pto Londoii and Birmingham •• .. 100.• 228 229 227 to 229
Ditto. Quarter •
Shares • • • • • • 2 2914 .••• to
Ditto,
Fifths • • • • • 2 .. •• 26 .• London and Croydon .. .. 131. 15s. 9d. ...• 221( •.to
•• to
London and Greenwich . • 121. 15s. 4d. •• • • 914 .. ••to
London and York .. ••• • 2% .•• to
.
Lynn and Ely .. .. • • • • ••15.. • • 13
Manchester, Buxton, and Matlock
.. 425. .. ••1 .. ••to
p.... to
Manch..ster and Southampton •.2.•••14 % • • to MidLuid •• •••••• ••
••100 .. .148% ... to
Dia°, New .. •••• • • IS .... 31% .... to 32 Newcastle and Darlington Junction ••25.•• • • • to
Ditto, New, Briuidling • • • • •• 25 .. •. 44 ••• to
North
British .. .• • • • • • • 224
.• .. to
Ditto, Half Shares • •
.. • • • • 8% .. • • 11% .. to
North Staffordshire •• • • • • • • 425. p.. to 4 p
Ficottish Central ••• 10 16% .• ••to 16 S‘.utli Midland ••••• • • • • 425. .. • . dis to
South Eastern and Dover • . 33% .. 39% .... to
Ditto. New, No. 1 • • • • •16 20 .. ••to
Ditto, New, No. 2 .. .. • • • • 10
.. • 14U to
Ditto, New, No. 3 .. .. • • • 15 • • 181% •••• to
Ditto, New, No. 4 .. • • • • 238 ••• • 2 % .. to—
Vale of Neath .. • • • • • • 2 .. • • IN .. • • to
West Riding Union .. .. • • • • 425..... 2% p.. to
York and North Midland • • • . • • 59 ..._. •• .. to
Ditto East and West Riding Extension 1 .... 113 • • • to
FOREIGN RAILWAYS.
Cer tral of Spain .. • • .• • • • • 2 .. • • 2 .. • • to
Dutch Rhenish .. • • • • • • 6 . • 74,. . • • to—
Louvain and Jemeppe •••..4..••1% .• .. to
Luxembourg .. .•.. •• •• 4••••1% • • to
Namur sad Liege •• • • • • • 6••• • 3% .. to
Northern of France Constituted .. 5 .... 13% to
Orleans and Bordeaux .• 6.. • • 10% ...• to 93,4
'aris and Lyons Constituted .. 5 •• 6% ••to
JOINT-STOCK BANKS.
.• •• •• •• 10 10%%.• to --
Real del Monte, Unregistered MINES.. •• 33( .. ••to
COURSE OF EXCHANGE.—(YESTERDAY.) gr
Amsterdam ...... C.F. 12 10 Gibraltar.. • •
Ditto, at sight • • .... 12 7 Leghorn .. •••30 70
Rotterdam .... ••2 U. 12 104 Genoa •• • • •
•• • • 26 10
Antwerp— .... 26 15 Milan .......
Hamburgh •.. • M
.B. 13 15 Venice ........... ....... . Altona. ..... .......... Naples •••• • . • • 39%
Paris, 3 days' sight .... 25 85 Palermo, per oz ........ 119
Ditto, 3 months.... •26 10 Lisbon.. ....... 52%
Marseilles ..
Bourdeaux.... ...... • • 26 15 Rio Janeiro • ..... • • 23%
Frankfort on Maine.. . • 123 Bah'a .. • .
Petersburgh, 3 U 5.... I;uezios Ayres .......-
Berlin • •• •.• •• • • New York, 21 days' sight Vietuna, effec. ll° .• • • 10 11 Philadelphia ..........
Trieste, ditt0...... •••• 10 12 PRICES OF BULLION, PER OZ.
Madrid •••••• • .. 36 Foreign Gold ia bars X 3 17 9
Cadiz .• •.. : ..
lidbao . .....
Barcelona .........• ew Dollars •• •••• • 0 4 9Seville.... %
••• .„ Silver in bars .... •• 0 411

Union of London

LLOYD'S SHIPPING.-(THIS DAY.)
LONDON, JUNE 3.—Wind at noon East, light airs, and
fine clear weather.
Swim JUNE 2.—Sld. Severn (s.), West Indies.
DEAL. JUNE 2.—Wind E. to E.N.E.—SId. Sir Edward
Ryan, Neal, Cape of Coed Hope.
LIVERPOOL, JUNE 2.—Wind S.E. light.—Acrd. Helen,
Risk, Savannah ; Columbia, Rath bone, New York. Sld.
Ist, Berlin, Baker, Boston ; 2d, Dumfries, Green, Hong-Kong ;
ilorsburg, Smith, Valparaiso; Panope, Chollus, Rio Janeiro Philomela, Bell, Berbice ; Clifford, Raymer, Jamaica •
Samiote, Downing, L 9 Gnayra ; Henry Curwen, Vickers'
ditto; Cincinta, Codman, Baltimore; Thomas P. Cope,
Murcken, Philadelphia; Millicote, Hunter, New York ; Eli-
zabeth Denison, Shearer, ditto; New York, Cropper, ditto;
Ashburton, White, Boston; John Bolton, Jameson, Quebec;
Virginia, Brown, ditto; Wizard, Carmichael, Labrador.
DUBLIN, JUNE 1.-IVir.d S.E.— ld. May 31, Pomona,
Benney, Quebec; Richard Watson, M'Culloch, ditto;_ Hugh,
Fletcher, Pugwash.
CORK, MAY 3l.—Wind E.S.E., light breeze.—Arrd.
H.M.S. Gladiator, on a cruize. Sid. Aboukir, Scott, Calcutta.
HULL, JUNE 2.—Wind E.S.E. moderate.—Arrd. Ist, Baltic,
Allmar, New York; British King, Haython, Charleston.
PENZANCE, JUNE 2.—The Sampson, Sully, from Neath to
Exeter, struck the Vipick Rock, near Cape Cornwall, yester-
day, and soon after sunk ; crew saved.
LIMERICK, JUNE I.—The Thomas, Washington, Ross, from,
Trinidad, is on shore on Whelps Rock, but is expected oft
next tide without damage.
NEWPORT, MAY .— 3 O 3O A mast and two sails, marked
" Thos. Morgan, Cardiff'," supposed belonging to a pilot-
boat, have been picked up on the Nash Sands by the Eleanor
and Mary, of New Quay.
SHEERNESS, JUNE I.—The Integrity, of and for Sunder-
land from Rochester, hooked in moorings this morning, but
is expected off next tide.