The Sun.
London, England, 1848-10-25 00:00:00

ROYAL MARINES.

GOOD CONDUCT WARRANT, &c.—The pension
and good conduct warrant, based upon the one issued
to the army in the year 1845, has at length been con-
sidered by the Lords Commissioners of the
with a view to ita adoption in the navy and
-

marine corps.
The following is a brief outline of t0..7 general
principles of the warrant :
ANNUITIES.—A proportionate grant to the sum al-
lowed to the army w ill be extended in annuities to
first class petty officers and to sergeants who are now
in or who may hereafter enter the service. Such
grants may be made either while the men are serving
or after their discharge, and with or without pension,
in sums not exceeding 201., which may be held dur-
ing service and together with pension.
Time selected are to receive mai wear a silver ale-

A FEW WORDS 'ON RAILWAY
BUSINESS.
TO THE EDITOR OF THE SUN.
SlR,—Your notice of my observations upon trans-
fer stamps and their baneful effects induces me to
draw your attention to the absurd duty of two shil-
lings and sixpence exacted by Government for proxy
stamps.. Speaking from my own experience, I am
satisfied, had not this duty been felt to be exceed-
ingly vexatious but also onerous to shareholders, a
number .of lines that have received the sanction of the
Legislature would not have been passed, or at all
events their formation would not have been proceeded
with in the reckless and hurried manner which they
have. Directors having a point to carry, and having
the shareholders' funds at their disposal, have, with
very few exceptions, succeeded in carrying out their
own wishes, even against the feelings of the share-
holders. The reason 13 obvious : the opposition
shareholder must pay for his own proxy stamp,
whilst the other party is found one gratuitously by
the directors. To some it may appear only a trifling
amount, but when a man is losing money be is
anxious not to increase his loss even by half a crown
at a time.
I am myself a shareholder in a few railways, and,
like many others, was led away by the mania of
1845, trusting to the parties whose names were he-
ralded forth as managers of those railways, relying
upon them to take care that the funds were properly
husbanded, and that a full and honest account would
be rendered by them. It is useless to say lam de-
ceived ; from all the accounts I have seen I cannot
help thinking that, if the accountants would but take
half the pains to render the accounts explicit that they
do to mystify them, shareholders would at least be
nacre satisfied.
I have now lying before me a circular emanating
from the Midland Railway Office, Derby, professing
to answer certain queries which have been submitted
to the directors.; on perusal it is to me anything but
satisfactory, and I hope the directors will see the
propriety ot publishing a more elaborate statemt,nt of
the company's. affairs. Their accounts, hitherto, it
would appear from the observations of the secretary,
upon the Stock •Exchange list, are not even compre-
hendable by the committee of that body, most of
whom are pretty well versed in accounts. It is,
therefore,' too much for the directors and secretary
to expect that the public will be satisfied with the
contradiction to these discrepancies. The public
looks for a full understandable account, and will not
think that pointing out three mistakes in the Ex-
change List is .sufficient, without the directors clear
up fully all the mysteries in their accounts.

B. E.

TO THE EDITOR OF THE SUN.
Snt,-1 am nut one of those who are often guided
by statements in newspapers put forth by editors or
others, but some remarks of yours in a number of last
week respecting the fall in railway shares agrees so
exactly with my own opinion, that I cannot let it
pass without urging you to stick to the mark, and to
use the powerful influence of your paper to bring
about so very desirable a change. You say that the
principal, cause of the ruinous decline in price is the
time bargains in the Stock-Exchange, or in other
words, the effect of a powerful party of Bears
frightening the shareholders by all manner of reports,
who having themselves previously sold what they
have not got, take the opportunity of buying it back
to advantage. -To obviate this, you propose or advise
the directors of companies, aided by Parliament, to
interfere, by putting a stop to time bargains— other-
wise, you say, railway property will never be a steady
and secure property. You have indeed laid
open the main and true cause, and if proof
was wanting, you have it in the great
difficulty for a purchaser with money in his
hand to obtain his shares for weeks, if not months,
after the purchase. The broker tells you he must
have the money on a given day. He has it ; but he
tells you he cannot procure the certificates ; and so
it goes on for weeks. Now, what is the construction
to be put on it by one who knows the secrets of that
Hon. House ? Why, that on the day appointed for
delivery the seller, not having the shares, pays over in
continuation to the next account, and the broker has
the use of the money.
To cure this crying evil there appears to me to be
a simple and easy plan. Do away with the Stock-
Exchange; let a corner of that noble pile, the Royal
Exchange, which is open to all the world, be set a
part for railway share business; let an authorised
person enter the wishes of buyer and seller in a book
which will be open to every one, of which there might
be many copies. Let the authorised person introduce
the parties, and the one having his shares in his pocket,
and the other the money, let them walk over together
to a railway office, which all the companies should
have at a convenient distance from the Exchange,
and having first satisfied himself as to the owner of
the shares, and their being all right, let the transfer
be executed and the money paid at once.
A broker not being required, an extra charge for
transfer might be made by the railway companies to-
wards the expenses of the extra office. A similar
plan might be adopted in all large towns, or through
banks, charging, of course, for trouble. Any other
improvement might be added.—Yours, &c.,
A CONSTANT READER.
Great Malvern, Oct. 23, 1848.
P.S.—A card stuck in the hat would be a sure
plan, stating what they wished to buy or sell.

SUICIDE OF A YOUNG WOMAN.—Yesterday Mr.
Bedford held an inquest at the Feathers, Dean-street,
Westminster, on the body of a woman, name unknown,
aged about 23. John Collins, a fisherman, living in a
barge on the Thames, said he found the ody on Mon-
day morning in the river near Millbank. He took it
ashore, and having washed the face, gave it a kiss.—
(Laughter.) The Coroner—" A kiss to a dead woman!
why ?" Witness—" For affection. I always do it when
I find a female body. Some people laugh at me, but I
don't care." The witness further stated that he thought
the deceased had destroyed, herself about four hours pre-
viously, as the body appeared to have been in the water
about that time. Verdict, " Found dead."
THE MURDER AT STROOD.—AmEnstisIoN OF A
SUSPECTED PARTT.-0a Monday evening, the adjourned
inquest, respecting ibis death of Mary Abbott, and
SN 110S0 body was found at the Fair-field at Strood, was
r:Aurned at the Angel Inn. Since the adjournment the
poLQO superintendent felt justified in apprehending Maria
M.Gill, wife of the fisherman, who first dcall e_ attention
to the body of the unfortunat
4i que deceased, aest-room,nwhere she
d she was
accordingly broug-''t int" the
remained during the ex..2ninati6n of. N
the witnesses. ot-
withstanding the search na:de to discover two abavvla
them has been found.
worn by the deceased, neither vf
inquest was again adjourned.
a ori —The Barrister held
EX ItEGISTRAT •
Head, Enfield, forthe
his In eld Friern Bar-
• •of the lists of I;dmonton, ~ , yesterday at the King's ,
fi
revision and Tottenham. In
Hadley, South Mims,
several instances the names of persons p •
ossessing the
net, Monken,
required qualification were struck out for misdescription.
seeral other claims, in which the qualification was in-
formably described, were allowed, no notice of objection
having been made. To-day the court site a Olt Jack
Straw's Csatle, lialupsteacl.

RAILWAY,. INTELLIGENCE.
RZILWAY CALLS.
We find that much alarm has been created in the
public mind by a leading article of a contemporary of
October 12, which represents that 131 millions of
pounds have still to be raised to complete the railway
schemes already sanctioned by Parliament. The
writer has taken the sum authorized by Parliament to
be raised, 326,643,2171., and deducted the amount
already called, 195,317,106/., which leaves 131
millions to be called; but he has forgotten that
the first sum contains the amount the com-
panies are empowered to brow, which is
generally one-third of their sjoste capital. He
has made no allowance for the sum thus raised,
although it is known to be immense. It is impossible
to form an opinion on this subject by reference to the
amounts authorised by Parliament, for such amounts
include loans, which there is no ready method of
ascertaining to what extent contracted. Many Bills
for lines were passed which the projectors never in-
tended should be made, and were originated simply
with the view of being sold to existing companies ;
these schemes are now defunct. The Parliamentary
returns also include many duplicate entries, which
arose thus—nearly all the old companies agreed to
take shares in one or more of the new schemes.
The Bill for the new company took powers to raise
the full amount, and the old company also had to
apply for power to raise their contributions ; this last
amount should not have appeared in the returns.
Satisfied that this calculation of our contemporary
is very erroneous and calculated to mislead, we have
prepared an account of the calls remaining to be made
upon all shares named in the London daily share list,
and have also added the shares of various lines which
are not known in the London market. We are not
aware that we have omitted any line which is likely
to make a call. This appears to be the only method
by which any proper idea can be got of our
existing railway liabilities. Some campanies per-
haps will not be able to get their calls on their
present shares, and may have to issue preference
shares in lieu of them ; others may have to issue new
shares as they cannot
.borrow money; tbut we think
this will not be to any serious amount, as most compa-
nies will rather abandon some of their branches, or
curtail their magnificent stations, than raise money
upon such terms. Any excess of expenditure over
the estimates will most probably be met in the same
way, by curtailing the works, which in many cases
can be done with benefit to the shareholders, and little
loss to the public.
We believe that the arrears on calla already made
are much smaller than generally supposed. The
works have-progressed rapidly, which could not have
been tha-case except money had been provided. It
is well 'known that directors hare used the most
bigorous means to compel payment, and they have
een-greatly 'assisted by the clause inserted in all the
new Bills, that interest on all previous payments
should be forfeited during the time any call was in
arrear.

The following statement shows the amount of calls
still to be made on existing shares, including aban-
doned schemes, &c.
Ambergata and Boston ...
Ayrshire and Galloway
Belfast and County Down • • •••
Birmingham, Wolverhampton, and Dudley
Birkenhead, Lancashire and Cheshire Jan.
Boston, Stamford, and Birmingham
Bristol and Exeter ••• •• • •••
...Bristol and Exeter, Thirds ••• ..•
Buckinv,hatoshire ••• •••
Caledonian, Half Shares ••..
" Ditto Preference 10/. •• • •••
Chester and Holyhead ... ..• •••
Direct London and Portsmouth ...
Dublin and Belfast Junction ... •••
Dundalk and Enniskillen
Eastern Counties; 61. Guaranteed •••
Northern and Eastern, New .•• •••
Eastern Union, Class A ... ..•
Ditto Class B •••
Ditto - Class C •••
Ditto Scrip• ••• ••• •••
East Lancashire, New ...
Ditto Preference; ...
East Lincolnshire ••• ..• ..•
Edinburgh and Glasgow, Half Shares ...
Edinburgh and Newport, New ...
Ditto Ditto ... ..•
Exeter, Yeovil, and Dorchester ...
Ditto New •••
Great Northern . . ..• ..•
Ditto Extension
Great Southern and Western
meat Non& of England 401. ...
Ditto New 15/ • •••
Great Western . .
Ditto Quarters •••
Ditto New, 171. •••
Lancaster and Carlisle, Thirds ...
Lancashire and Torkshire •••
Ditto Ditto ...
Ditto Half shares ...
Ditto Quarter shares

11,543,7i0

Ditto Fifths •• •••
Ditto Thirds ••• ••• •••
Ditto. Einaranteed 6L
Liverpool and Bury •• •'••
Huddersfield and Sheffield
Wiled Riding Union ••• ••• .14.1
Preston and Wyre, Half Shares ...
Leeds and Dewsbury, Scrip ••• •••
Leeds and Thirek, New ...
Ditto Preference •••
Livewpool, Crosby, and Southport •••
.Liverpoo,, Manchester, and Newc. June....
London and Blackwell Extension •••
London and Brighton, IL Guaranteed
London and North-Western, Quarters ...
Ditto New Ditto
Ditto Fifths ••• ••• •••
pittO 401. ••• ••
at° 10L A .
Ditto 101. B •••
Ditto 10L C..•
London and South-Western, 50L •••
Ditto 401. ••• ••• •••
Ditto Thirds ..•
Ditto New Scrip •••
London, Salisbury, and Yeovil
Londonderry and Coleraine
Londonderry and Enniskillen ...
Lowestoft, Guaranteed 6/...
Matlock and Buxton
Sheffield and Lincoln, No. ••1
Ditto No. 3
Great Grimsby and Sheffield ...
Ditto 201. ••• •••
Ditto 12i1.
Ditto Docks ...
SheffieljA aad Lincoln ... • • •
Manchester and Lincoln Union
Midland, 50/ •••
••• •••
Bristol and Gloucester

Ditto Ditto •••
1141k1land Great Western ..• •
•••
Newmarket ••• _•• •••
Ditto Extension •••
Newport and Abergavenny
Newry and Enniskillen ..„ •••
Norfolk, 201., New ••• •.•
Ditto Waveney Valley
Northern Counties Union ••• •••
North British Extension ... ••• •••
North and South-Western ••• •••
Worth Staffordshire ••• ••• •••
North Wales ••• ••• VS • •••
North We3tern ••• ••• .•• .••
Reading, Guildford, and Reigate •••
Royston and Hitchin ••• ..• •••
Scottish Midland, New ..• ••• • •
Sheffield, Rotherham, and Goole, Nor. Div.
Ditto Sou. Div.
Shrewsbury and Birmingham, Class A....
Ditto Class B. ...
Shrewsbury and Hereford...
Shrewsbury and Chester ... •••
Ditto Halves •••
Ditto Oswestry ••
Ditto New ... ••• •••
Shropshire 'Union ... • • •••
•''
Soth Staffordshire.,.
u
South-Esstern, No.
Ditto No. 2
Ditto No. 3 ...
South Wales ••• •••
South Yorkshire, Doncaster, &c. •••
Swans. and Lou ;,:hor audCamb. Steam Coal
Taw Yale Extension ••• •••
•••
Thames Haven Dock and Railway
Vale of Neath ••• • • ••• :-
Waterford and Kilkenny ••• •
•.•
Waterford and Limerick ••• •••
Waterford,Wexford, Wicklow, and Dublin
West C,rnwall ••• ••• ••
•••
Wear Valley, 6/. Guarantee •••
Ditto Ditto •••
Whitehaven and Furness ... ••• „
Windsor, Stainei, and South-Western
Wilts, Somerset, and Weymouth
York and Newcastle, No. 1 ..• •••
Ditto. No. 2 ••• • ••
• Ditto Preference ...
York and North Midland Preference

Total ... £62.760,335
LINES' NOT INCLUDED IN THE LONDON LIST.
Cornwall—lit is probable that only a small
part of this line will be made ..*
Cork and Waterford--this line is -- reputed
to be abandoned.
Coventry, Nuneaton, and Lincoln
•.•
Derby, Staff., & Wore. Junction—defunct.
Dublin and Dundrum
Dublin, Belfast, and Coleraine—defunct.—
Dublin anningstown
Colchester and Stour Valley
rii'st and West India Dock Railway
Stilng and Dunfermline
Edlopurgh and Bathgate
Stirling and Midload;Junction
Glasgow, Paisley, and Ayr •••
Gloucester and Dean Forest ..
Mahon and Driftield
Midland and Great Western
Taff Vale

£ 1,4 60,000

135,000

110,250

"• 255,000
• 150,000
300,000
4.; z Is81:04x ;
30,000
60,000
634,d-n
243,200
134,200
200,000
108,000

lINFEW cl' \ • . ... _
_ *
i.•': - .1•10.....•••••••
a , Total ... ... ... £66,762,305
.--:
The following is a statement of the deductions
-.- which must be made from the above sum on account
-k•
.
-:. ; ...I,- -of defunct schemes, calls to pay off loans, and calls
• ...: ',2i.,.----

f 7

to buy completed lines. We have not made any de-
din:tiro for duplicate calls, that is for calls to be made
by old companies to pay up the shares they hold in
new lines :

Ambergate and Boston—shares to be re-
duced, and great part of line abandoned £1,100,000
Direct London and Portsmouth—defunct 1,342,500
Nor. and East.,New Shares, to pay off loans 166,211
Exeter,Yeovil, andDorchester—Act not got 1,163,500
Ditto Ditto New, Ditto ... 447,500
Gt. North of England, 401, to pay off loans 187,500
Ditto Ditto 151., Ditto ... 10,000
Lan. and York. sth Shares, to pay off loans 1,395,009
West Riding Union—shares to be reduced,
and part of lino abandoned ••• ••• 400,000
Liver•Manches. andNewcle.Junc.—defunct 1,22'5,000
London and North-Western, New Quarters,
to pay off loan and cell—deferrred ... 3,030,840
Lond., Salisbury, and Yeovil—Act not got 1,511,648
Man. and Lin. Union —to buy a canal 172,840
Newry and Enniskillen—defunct ••• 794,000
Norfolk Waveney Valley—defunct ... 360,000
Northern Counties Union—defunct ... 2,760,000
North British Extensions—Act not got ... 540,000
North Wales—defunct ... ... ... 257,140
North Wales—shares to be reduced to 15L,
and part of line abandoned 275,000
••• •••
Sheffield, Rotherham, and Goole,Northern
Division, reduced to 18V. • 91,000

Ditto Ditto South Ditto Ditto - 117,000
Shrewsbury and Hereford—defunct ... 720,000
Shropshire Union—part of line abandoned 2,000,000
Waterford, Wex., Wick., Dublin—defunct 1,700,000
West Cornwall—defunct •.• ••• 294,910
York & Nwcstl, to buy up Gt Nor of Eng sh. 2,703,000
York & MiJind, to buy up Hull & Selby sb. 944,250
Newmarket Extension Scrip—abandoned 527,200
Leeds & Thirsk Pref.lB4B, red. to 201. eh. 405 000

Total ... £26,641,049
If the above deductions are made it appears that the
sum of 40,111,2561. now remains to be called up. A
considerable part of this is arranged to be raised
during the next three years. It is probable that the
Irish lines will be deferred for several years, or
finished by the aid of Government loans. As the
particulars are here given, every one can make what
further deductions or additions he thinks proper, and
so form his own estimate of our railway liabilities.
Our contemporary says that in making railways
we have heaped our bread and provisions into
embankments. This is true only to a certain extent,
because thousands, during the last three years, have
denied themselves many luxuries and pleasures, and
reduced their expenditure, that they might be able to,
pay their railway calls. Any sums thus saved and
appropriated must be in addition to our national
wealth. The construction of railways has been
attended with one undeniable advantage, that of
keeping our capital at home, and also inducing
English capital to be withdrawn from foreign coun-
tries, which recent political events :will not make the
owners regret.—Leeds Intelligencer.