The Sun.
London, England, 1846-08-07 00:00:00

Louvain ala Sambre .

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Luxembourg -. • • .. .. 4 .. 2 .. ••
Namur and Liege
°dean.; and Bordeaux 6 .... %
Paris awl Lyons Constituted •• .. 5 .• 534
West Flanders • • • • .• • • •• 6 •• • . .. ••
MINES

Real del Monte, Unregistered •• •• ••.. 3N —•• to

LLOYD'S SHIPPING,-(THIS DAY

LONDON, Ara. 7.—Wind W., light airs, and hazy.
DEAL, Ara. 6.—Wind S., light.—Arrd. Roseberry, Young, Singa-
pore ; Claudine, Furgensen, Sierra Leone for liamburgh ; Sara Jo-
hanna, Welusen, Santos for Altona ; Senator, Lister, Trinidad ; Tra-
veller, Watson, Richibueto ; Resonrce, Tasker, River Saguenay ;
Rokeby, Robson, Quebec ; Ava, Webster, Quebec ; Aurora, Hunter,
Quebec. Arrd. from the River, Lady Amherst, Ablett, China ; Lady
Seaton, Datil, Montreal. Arrd. from the River and sad. Katinka,
Caseley, Denis ; Car.•line, Dangerfield, Valparaiso.
WARKWORTII, Ara. 6—The Prussian schooner Wittgenstein, from
Belfast to .Newcastle, ran on shore on Coquet Island last night,
during a thick fog, but was assisted off and towed in here.
MARGATE, _MG. 6.—The Economy, Ilooper, from London to
Gloucester, came into harbour last night, having strained a good deal
and become leaky whilst lying in the roads.—The Active, Moore,
front the north to Gibraltar, got on shore on the Bunt (Goodwin
Sands) this morning, but was assisted off, leaky, and has proceeded
to Dover.

CLYDE, Auo. s.—Calm.—Aral. Empire, Gillies, Quebec. Sid,
Tarolinta, Smith, New York ; Champion, Cochrane, Quebec ;
della, Lowe, Newfoundland ; Gondola, Bennie, New York.

MARKET NEWS.-(THIS DAY.

CORN EXCHANGE-FRIDAY.

The arrivals of English Wheat for our market since Monday have
been on a very moderate scale, and the show of samples of that
article to-day was small ; still, however, owing to the prevailing fins
eather, the demand was exceedingly heavy, at almost nominal
currencies. Nearly 12,000 quarters of foreign Wheat have come to
band. All descriptions were a mere drug, but not cheaper. We had
a limited quantity of Barley on offer, yet the sale for it, as well as
Malt, was excessively dull, at barely late rates, and a clearance was
not effected. Very large quantities of foreign Oats, viz., 23,410
quarters, have reached us. Thislcaused: the Oat trade to rule dull,
and prices to have a downward tendency. , Beans, Peas, and Flour,
as last quoted.

ARRIVALS.
Barlay. I Batt 1 Flour.
100 qrs. 370 qrs. I 1,950 ski,
160 1 -
23,410 1

Wheat.
English
Irish .....
Foreign

3,460 1
Malt, 2,210 are.
SMITHFIELD.

11,670

Our market was somewhat heavily supplied with'Beasts, both as
respects number and quality. The demand for that description of
stock was, therefore, in a very inactive state, at barely, but at no-
thing quotable beneath, last week's prices. There were on offer 240
Beasts, 430 Sheep and Lambs, and 34 Calves from Holland. The
numbers of Sheep were not to say extensive ; while the Mutton
trade was tolerably firm, at full currencies. In Lambs—the supply
of which was good—a fair amount of business was doing, at late
rates. With Calves, owing to the large supply offering, the trade
was very dull, and the quotations had a downward tendency. The
sale for Pigs was heavy, at late rates. Milch Cows moved off hea-
Nib*, at from 16/ to 191 each, including their Small Calf CSuckling
Calves, 18s to 29s ; and (master-old Store Pigs, 16s to 19s each.
Beasts, 801 ; Cows, 127 ; Sheep and Lambs, 11,730 ; Calves, 548 ;
and Pigs, 160.
NEVZGATEI AND LEADENHALL.
We had rather a slow demand at but little variation in prices.
BOROUGH HOP MARKET.
Favourable accounts still continue to be received from nearly, or
quite, the whole of the Hop districts, owing to which the demand
hero is exceeding heavy, and prices are not supported. The duty
has advanced to 155,000/. Sussex Pockets, 51 to 61 per cwt.; Kent
ditto, 51 53 to 616 s ; Mid and East Kent, 61 to 8/ 12s.

RAILWAY COMMITTEES.

(THIS DAY.)

HOUSE OF LORDS.

Room C.
strionEasrzELD and MANCHESTER. RAIL-
WAY and CAN ELL (OLDHAM nuANci).

The Chairman (the Earl of Radnor), and the other members of
the Committee on this Bill, Met to-day at eleven o'clock.
An agreement having been entered into between the promoters of
this:Bill and the Manchester and Leeds Company, by the insertion of
a clause with which bpth parties were satisfied, the opposition of all
the petitioners was withdrawn, the Committee decided that the
preamble of the Bill was proved, and the Chairman stated that he
would report to the House accordingly.

OLDHAM, =atm ESTEIZI LIVERPOOL,
AND BIRKENHEAD =NOTION.

The CHAIRMAN said, that as the'tratlic proved to exist on the last
line would apply to the present, he did not think it would to neces-
sary to give any evidence on that head.
Mr. Sergeant Waawmax4 then opened the case for the Bill. He
said it wai promoted and opposed by the same parties as the preceding
Bill. It was intended by the promoters to construct a line from Old-
ham to Manchester to join with the Manchester and Birkenhead
Railway, and consequently opening a direct communication between
Oldham and Manchester, as well as between Oldham and the docks
at Birkenhead. The length of the line was 7 miles 38 chains, and
the estimated cast 480,000/.

A letter from Naples states that the Princess d'Aquila
TM safely delivered on the 22d ult. of a Prince.

SECONDARIES'.-(THIS DAY.)
(Before Mr. Secondary JAatEs.)
MORTLMER V. STYLES.
This was an action to recover the sum of 134 10e. on an
" 1.0. U."
The defendant pleaded that he was never indebted, on which
a point was raised.
On the part of the plaintiff the " 1.0. U." was put in, and
proved to be in the defendant's hard-writing.
The jury thereupon gave a verdict for the plaintiff.
The defendant, who was present, said it was a very hard
case upon him, for although he certainly had had the money,
the defendant owed him 601.
The SECONDARY said that that ought to have been pleaded
as a set off or satisfaction.
The defendant said he left it all to his lawyer, who had
now left the Court.
The SECONDARY said, the defendant, if his story was cor-
rect, had been ill-advised by his attorney ; but the jury could
not have returned any other verdict upon the evidence, and
indeed, by the forms of law, no proof of a larger sum being
due could be admitted under the plea that defendant was
never indebted. Some of the jury said the law was open to
all, and no doubt a jury would decide in his favour in an
action against hi: attorney.

LONDON AND NORTH-WESTERN
RAILWAY COMPANY.-(THIS DAY.)

This morning the first meeting of the proprietors of the
above Company was held at the Euston Hotel, Euston-
square. Mr. Glynn took the chair at twelve o'clock.
The SECRETARY ( Mr. Booth) having read the notice call-
ing together the proprietors for the purpose of declaring a
dividend; appointing auditors and fixing the amount of re-
muneration to be given to auditors, directors, and commit-
teemen ; for authorising the raising of money by new shares
and by loans; and for the conversion and consolidation of
shares into the general stock,
The CHAIRMAN said—Gentlemen, from the notice which
has just been read to you, and from the unusual course of
commencing business, you will perceive that we are about
to hold the first meeting of the London and North-Western
Railway Company. It is to us a matter of unmixed satis-
faction to see you convened together under that title under
the recently passed Act ; for although, on the part of my col-
leagues and myself, I can say that we have always received
much gratification in meeting the proprietors of the London
and Birmingham Railway Company, and which we have left
under its own name in a very prosperous state, it is more
satisfactory tons that the measure which we have all advo-
cated for some time past has received the royal assent.
No words are necessary on the subject, for the approval
which the measure ITas from time to time received from the
proprietaries at both ends of the line, and at Liverpool and
Manchester, speaks enough on the subject. The project
arose as a matt( r of course, and, as regards the Grand Junc-
tion Railway Company, the only wonder which can be ex
pressed is, that they did not take up the Bill at an earlier
period. t was the intention of the promoters to carry on
the concern jointly; but you all know the difficulties
which the directors and proprietors would experience
in not being able to carry on these two great undertakings
It is impossible for us yet to represent to you its full effect
as regards your interest, and the interest of the public,
which may result from this amalgamation. We shall not
forget that we have great interests to deal with in providing
for the mercantile wants of Liverpool and Manchester. It is
unnecessary to carry out before you to the full extent the ad-
vantage likely to result from the amalgamation itself. As
three separate and large bodies, acting on three different
systems, it might be impossible for us to move suffi-
ciently quickly in adjusting the present system now
before you. We expect very important results from
that which we have undertaken. It is a source
of congratulation to us that the measure will be carried out
to its full extent, and we have great satisfaction in finding
ourselves so closely connected with those to whom we must
look up to as the promoters of railway projects--who, during
the time when the first propositions with regard to railways
were received with scorn and sneers—when Parliament took
a line of conduct against their introduction—when the
money-market was in a gloomy and depressed state, car-
ried out the railway to Liverpool, the foundation of
the schemes which have since been proposed. I feel that I
have occupied the chair improperly OR this occasion in the
presence of Mr. Lawrence, who was mainly instrumental in
carrying out the Liverpool and Manchester Railway. It is
rumoured (but I can hardly give any credit to such a report)
—it is rumoured that those companies which have hitherto
been successful in their results are likely soon to be brought
under the notice of Parliament, to show to the public
what is called the enormous profits supposed to be
derived from some of the railway companies. It
is not in this room, or in the presence of the
proprietors of the London and North-Western Railway, that
I can deny the existence of large profits. They are the pro-
fits from a great undertaking—from a great experiment
which we have tried, and successfully tried. With regard to
the London and Birmingham Railway, it is stated that it is
with regard to the creation of new shares ; that is the point
upon which we are likely to be brought under the notice of
the House, and I say, that when we were forced by the great
increase of our outlay—by the estimates far exceeding what
was anticipated—when we were driven to Parliament
to raise money to complete our works—the subject under-
went a long investigation before a Select Committee, and we
were ordered to allocate our shares to the proprietors at par.
We do not complain of it—it was an act of justice. We ask
for no new privileges; our calculations of traffic were based
on the most accurate investigation. It was not fair to be
called on to double our capital, but having done so, to whom
ought the benefit to be given, if any benefit arose? It was
to be to those who invested money in the undertaking
in the first instance, for if the shares had not
been offered to the proprietors at the earliest moment,
the undertaking would have lingered in an inactive state, as
the money-market at that period was in a state of gloom; and
if it had not been for the untiring energy of the proprietors, it
would have been a failure altogether. It is too
hard, therefore, to be called on to account for
profits which, however large they may be, are circulated
over the whole country. Because our shares have risen
and been increased, it is invidious to hold us up as having
sacked large profits. lam very anxious not to occupy your
time unnecessarily on this occasion, and as a report of some
length is prepared, you would rather refer to
that for further information with regard to this
concern; but it will be expected from sue to say one
word or two about the different schemes which we have
from time to time submitted for your approval and
brought before Parliament. Our success in Parliament
this year has been of a chequered character, as
; far as the London and Birmingham is concerned. We
have lost several very important measures. We have lost,
in the inquiries before Parliament this session, all those mea-
sures which were designated to you as the Warwickshire
branches, and, what is the worst part of the case, our
opponents have carried the Birmingham and Oxford.
The others have been of a secondary nature
to that scheme—they were not of any great importance in
themselves. We have lost the St. Albans and Luton branch,
and we have withdrawn the Newport Pagnel. Altogether
we have come out of Parliament fortified in our posi-
tion. During the discussion this present session
we have profited. Whether we look to the
South-Western—the Direct Portsmouth having been carried
against them—or if we look to Norfolk, where the London
and York has been carried, or to Scotland, the principle
of competition is laid down. The Oxford and Bir-
mingham is carried against us, on the principle
of competition. Though that principle has been generally
adopted this session, and will most probably be so next ses-
sion, it has not altered our views on the general merits of
the question. I believe that the Legislature would have
exercised a wise discretion if it had taken up the principle
laid down by the Board of Trade, and not laid down
the dangerous and impolitic doctrine of competition.
But we must be prepared for it; we have no other argument
for doing so than the fact, that what has been done this
session has rendered our position infinitely more safe. We
are in a position to carry on competition, and any company
which commences against us must commence on a very large
reduction of the present existing rates; for, though some
companies are very low in their charges, there are very few
nearly as low as we are, and only one in this metropolis is
equally low. The prosecution of the several Bills which
we have obtained will, of course, require an addition
to our capital; and When I mention this, it is only
right that I should point out to the proprietors that many of
the Bills which we have secured this session are Bills more
of a protective character than Bills from which we can expect
any large return. We have been obliged to carry Bills for
the improvement of the stations at Liverpool, Man-
chester, Birmingham, and London, and I cannot hold
out any hope of any new return. The same observation
applies to several Bills which the Grand Junction has ob-
tained. In what lam now about to say I speak only in
my individual character, and I must not be understood as
expressing the opinions of any of my colleagues. In
looking forward under the large creation of stock
which has recently taken place, it will be impossible for me
to expect to keep up the present existing dividend. It has
been the principle of the London and Birmingham directors
never to conceal anything from their proprietors. It is right
that I should make you acquainted with my own feelings
on this subject. It will be some time before the new capital
can be brought into operation, and it is impossible to know
what events the intervening time may produce. Many of
my colleagues are sanguine in their hopes that we
may still keep up the existing dividend, but it is not so in
Imy opinion. I. cannot mention to you the mode in
which we propose to create the new capital; we do mean
to make an immediate creation of London and North-
Western Stock. I will not keep you many more
minutes, because you will naturally be anxious to hear
the most important document of the day read to you ; but I
cannot resist, on the first time I address you under your
new name, letting you know a vote which you will be
called upon to pass, and to which your sanction
will be asked. I may say that it is a debt of gratitude
which you owe to your engineers. We have secured
to the service of the amalgamated company the ser-
vices of Mr. Stephenson and Mr. Locke, who have
individually served the two companies for a long
time past. Gentlemen, although the amount I shall
propose to you I cannot be considered anything at, all
as equal to compensate the worth and merits of the indi-
viduals, yet I still think that you will receive
with approbation the resolution which will be tendered
to you with regard to them. It is a compliment
quite unexpected, and will be received with great grati-
fication. fication. What I propose for your sanction is,
a testimonial, in some shape or other, to the value f
be presented to Mr. Stephenson and Mr. k With these
remarks, I will now proceed to ask Mr. Booth to read the
report, and it will be a source of satisfaction to me to be
able afterwards to answer any questions that may be put to
me.
proceeding P our reporter left.)
(The meeting was

SPORTING TELLIGEN CE.
(RECEIVED
THIS DAY.)
BRIGHTON RACES._ N
DIVRSDAT (CONCLUDED).
Theats Sw
was walked 3ovs.
the
h rcht.Ta by a length
he first and secondthe
wereelibyewsotankdesf
a head, h
over for by Correct Card, Mr. Jackson
Ireeetving 101 out of the stakes. New Brighton broke down in
the third heat.
fourthhe
The South Down Stakes of 10 sovs. each, and 25 added, 5 ft;
for three yrs olds, &c. Gentlemen riders. Heats, the New
Course. (5 Subs.)
Mr. Osbaldeston's Naworth, aged, 12st ...... 5 0 1 1
Mr. G. Hobson's Chatham, 4 yrs, llst 1 3 3 2
Mr. Anderson's Stittenham, 4 yrs, lOst 91b 402 dr
Mr. P. Rolt's Solace, 4 yrs, 9st 71b
Mr. 11. S. Forth's Richard Cricket, 4 vrs, 9st 101 b 3 dr
LATEST BETTING ON THE ST. LEGER.
9 to 2 agst Pyrrhus the First (t).
6 to 1 agst Sir Tatton Sykes.
7 to 1 agst Grimston.
10 to 1 agst Traverser (t).
10 to 1 agst lago (t).
11 to 1 agst Fancy Boy.
20 to 1 agst Free Lance.
___

ILLNESS OF THE POSTMASTER-GENERAL.—Yesterday
his Lordship, the Postmaster-General, the Marquis of Clan-
ricarde, was taken unwell at his residence in Carlton-gardens.
His Lordship had appointed to see the four men in the Post-
office, who had stated they were under fear in giving evi-
dence before Mr. Peacock, but in consequence of his illness
the Noble Marquis sent out word that he could not admit
them that day.

PARLIAMENTARY BUSINESS•
(From the Votes and Proceedings of the House of Commons.)

TSUJI:SPAY; AUG 6.

MESSAGE FROM THE LORDS.
Messengers from the Lords brought up the following Bills, Which
their Lordships had agreed to:—
Cheshire Returning Officer Bill—Australian Agricultural Company
Bill—Dublin Cemeteries Bill—Amendments to Yeovil Borough
Estate Bill, without Amendment —Eastern Counties and Thames
Junction Railway Branches Bill—Flymouth Great Western Docks
Bill, with Amendments.