The Sun.
London, England, 1846-08-20 00:00:00

HAT IVIALIVIILATS.

SMITHFIELD. —Old Meadow Hay, 31 to New ditto, 215 s to
3/ 14s ; Old Clover, 415 s to 5116 s ; New ditto, 31 5s to 41 18s; Oat
Straw, 11 12s to I/ 14s; Wheat Straw, 11 14s to 11 16s per load. Sup-
ply good, and trada dull.

CUMBERLAND.--Old Meadow Hay, 3/ 50 to 4/ 4s ; New ditto, 2/ Os
to 41 17s ; Old Clover, 41 lOs to 51 15s ; New ditto, 3/ 6s to 41 17s ;
Oat Straw, I/ 14s to 11 15s ; Wheat Straw, 11 16s to 1/ 18s ; per load.
A lull average supply, and a sluggish demand.
WHITECHAPIEL.—OId Meadow Hay, 318 s to 4/ 4s; New ditto, 2/ 5s
to 31 16s ; Old Clover, 41 5s to Si 188; New ditto, Si 108 to 51; Oat
Straw, 1/ 12s to 11 14s; Wheat Straw, 1/ 14s to 1/ 16s per load.
Trade dull at the above quotations.

IMPERIAL PARLIAMENT.

(THIS DAY.)

HOU4E OF COMMONS.
The SPEAKER took the Chair at Twelve o'clock.
DUKE OF NORFOLK'S ESTATE BILL.
This Bill was read a third time and passed.
CORK AND WATERFORD RAILWAY.
This Bill was read a third time and passed.
LORDS' AMENDMENTS.

The Lords' amendments to the following Bills were agreed to.
Caledonian Railway (Clydesdale Junction Railway Deviations).
Glasgow and Belfast Union Railway.
London and South-Western Railway (London-bridge Eaten-
sion).
Metropolitan Sewage Manure Company.
Sion College Estate.
Taff Vale Railway.
NEWCASTLE-ON-TYNE AND CARLISLE BRANCH
RAILWAY.
On the Lords' amendments to this Bill being proposed,
Mr. JOHN ABEL SMITH opposed their adoption, and
said that the company had, through five or six Acts
which they had obtained from Parliament, power
to raise, by shares, the sum of 915,000/., and by loan,
335,0001.; but in 1844, the company had raised the enormous
sum of 741,0001. by loan. This it was true had been reduced
in 1845, by a large sale of shares, but the money obtained
thereby, instead of being applied to the reduction of the debt,
had been carried to the account of profit and loss, so as to in-
crease the value of the property in the hands of the proprie-
tors. Now, with this enormous debt, this was anything but
right, and he felt—not having the slightest interest one way
or the o.her—that it was but his duty, as a Member of Par-
liament, to bring it under the consideration of the House, in
order that there might be a proper inquiry before this Bill
was, passed.—( Heat, and cheers.) But there was another
and, as he conceived, a most flagrantly disgraceful transaction,
which ought to be known. In the accounts submitted to the
members of the company, in 1844 and 1845, there was a state-
ment of a realisation upon 3,000 calls, subject to the redemp-
tion by the company, by which the sum of 300,0001. had been
raised, and also another item of a similar transaction upon 2,250
shares, upon which the sum of 225,0001. had been paid. Thus
there was a sum of 525,0001. stated to the public to be a
realised capital, but which was instead of that absolutely, and
in fact, an additional debt. A more disgraceful transaction
had never come under his notice, for when an inquiry was in-
stituted by the House of Commons no statement was made
whatever of any of these sums. He would, therefore, call the
attention of his Honourable Friend, the Chancellor of
the Exchequer, to those facts, and ask him whether
he could countenance a transaction which might, by
the fraud on the face of it, give such occasion to the
distraction of the money market, and, above all things, was so
likely to destroy the whole credit of railway debentures?
Being himself coi.fident of the great mischief likely to occur
from such a proceeding, he should conclude by moving that
the Bill be read this day month, for a more gross breach of
regard to the premises of an Act of Parliament he had never
witnessed.
Mr. FOSTER trusted that his Hon. Friend would not per-
severe in this motion, for this very same allegation had been
submitted in extenso to the Lords' Committee by whom these
amendments were proposed. By ,them these allegations had
been fully examined, and yet they had passed the Bill, and
sent it down to this Hulse. His Hon. Friend had really
brought forward no public grounds, and as, after all, the whole
fault appeared to be only an irregularity of accounts, he hoped
he would not press a motion w high would have the effect of
throwing put the Bill,
Mr. WARBURTON thought that the House were deeply
indebted to his lion. Friend for bringing this matter forward;
for if they were to pass the all in its present stage, it would
be neither more nor less than giving a premium tor the fraudu-
lent transactions of railway directors.
Mr. GREENE said, that really there was no sufficient
ground fur throwing out this Bill, which must be the con-
sequence of the success of his motion. The fault which had
been committed by this company was one of irregularity only,
and that defect had been provided for by a clause of the general
Act of last session ; and it was preposterous that a Bill, which,
after a searching investigation by both Houses, had received
their approbation, should be met with such opposition. He
thought that this would be unjust; and he trusted that after
having passed this ordeal it should not be rejected for what in
fact was. not a defect.
After an inquiry from Mr. AGLIONBY,
The SPEAKER stated, that in reality there was no breach
of privilege, yet the motion was not in accordance with the
rules of Parliament. 'these directed that when a Bill had
once passed the House of Commons, they had nothing more to
do with it ; and that in the event of there being amendments
made in it by the House of Lords, the House of Commons
could touch neither the principles nor the clauses of the Bill,
but could either pass the Bill by agreeing to the amendments,
or express their disagreement, and state so much to the other
House.
Mr. SMITH then remodelled his motion, and moved that
that the Lords' amendment be disagreed with.
Mr. AG LIONBY had been exceedingly anxious, both
on public grounds as well a, from private motives,
that the Bill should pass. It was for the formation of
only a few miles of railway ; but on the principle that it was
absolutely necessary that the most unlimited confidence should
prevail between the shareholders and the directors, he de-
sired its postponement, for, upon the face of the ac-
counts, it appeared that there was some delusion. It
was stated that there was a large capital, when abso-
lutely there was nil. It would be better, therefore, on all con-
siderations, much as it was against his private feelings, to
accede to the proposition for the postponement of this Bidtill
another session.

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Mr. P. HOWARD trusted the House would not so far
forget the usual mode of proceeding in Parliament, as to reject
a Bill which had received the deliberate sanction of both
Houses; and that, too, without the advancement of any one
single public principle whatever. The Bill was to maze a
line to communicate between the Newcastle and Carlisle Rail-
way and the mineral district of Alston,_ for which plenty of
capital had been already provided. There was no public
ground, he would re-assert, for the shareholders were perfectly
satisfied with the conduct of their directorl, and he trusted,
therefore, that on such a pretence as this the House would not
reject the Bill at this stage of the proceedings.
Mr. ESTCOUR'I' conceived that whatever be the stage of
the proceedings, if there were any appearance of fraud, it
was the duty of the House to reject the Bill. Now, from the
statements allowed to have been made it appeared that a debt
of 741,0001. had been contracted contrary to the express terms
of their Acts of Parliament. There had also been an issue,
what appeared to him a fraudulent issue of shares, and on
these grounds he conceived that the Bill ought to be postponed
till another session.
Mr. HUME did not see how, after the inquiries which had
been made in both Houses, the House could proceed further in
the matter, and he should therefore vote for the amendments.
Lord MORPETiI would not have given any opinion upon
the matter, had it not been for the absence of all Members
connected with the part of the country through which this rail-
way passed. This railway had been one of the earliest of the
railway companies, and their earlier proceedings were nut
marked by
,that regularity which was now required. He
thought, however, that as the Bill had passed its ordeal in both
Houses, any further interference was not called for.
Mr. T. S. DUNCOMBE said that the slight irregularities
alluded to by the Noble Lord were certain gross misrepresen-
tations made to the shareholders of the company for the pur-
poselof deluding them. He thought that some
explanation of
the matter was certainly due to the House ; and with reference
etofficai any
intimation inquiries
on madethe
subject,in the Upper4
thereforeH use,
they
there
couldwas n
no
t
take it into consideratioAnt.o,
aHned htheoaurngeebotmthmaetntdheedsethaemendment
ougt.t not to be accede
postpone-
ment of the Bill until next session, when these things can be
arranged. _ „
Mr. MU] TZ said that the postponement of the Bill was
not likely to benefit the public, and might injure the company,
There was no complaint made on the part of the shareholders.
Mr. MILNER GIBSON said, that if the irregularities re-
ferred to had been of so gross a nature, a committee of the
Lords would not have deliberately recorded their recisions that
they were of a venial nature, and he certainly preferred taking
the authority of that decision before the simple statements of
Members of that House. He therefore would not be a party to
reject the rnea.ure on such slight allegations.
S EATf t,
e whichr
some
et
hrO
eyu g httha
explanation,the
for if they
eoyf
the Mcro. mjp.
aanA y.f ecdswei did
lioTontrryds fsreaeacfgihrd:
itrntrhhe
ead Ltgohsaorel d GRANVILLE SOAIER.
had raised 400,000/. more than they were authorised to do, and
kad afterwards covered it by a fraudulent statement, these
amendment! ought not to be acceded to.
Mr. BERNAL thought that the present system of their
railway legislation was most inefficient, as Committees of both
Houses had inquired into the Bill, and yet these enormous
frauds had been allowed to pass unnoticed and unchecked
He hoped that some attempt would be made to modify that
defective system.
Mr. STEIL thought that where the question had been re-
ferred to a proper tribunal, and the efficiency of that tribunal
not disputed, it would be wrong to impugn their decision.
Mr. WAKLEY.moved that the debate be adjourned until
Monday next, in order to give the parties time to explain or
refute the allegations made against them.
Mr. HAWES thought that the adjournment of the debate
would be to pronounce the sentence of condemnation on the
Bill. The facts were already fully before the House, and he
thought that they ought to be proceeded with at once.
(LEFT LITTON/0

THE PEEL AND RUSSELL GOVErtNNENTS.—The Peel
Cabinet of eighteen contained live Scotsmen, five Englishmen, one
Borderer, one Irishman, and one American. There were also eleven
Scotsmen in high Government offices, but not of the Cabinet. The
Russell Cabinet of sixteen contains two Scotsmen, eleven Englishmen,
and three Irishmen.
MELANCHOLY ACCIDENT.—KINGSBRIDGE, AUG. 18.—
A. boat, containing three men and a boy, went out to Reg nay Bay,
in order to meet the fishing-boats which were employed in the pil-
chard fishery, in order to save time and to strike a good bargain
with the fishermen with their fish. The boat was Calla by a very
heavy sea and dashed to pieces, and the Dien and boy were all
•