The Sun.
London, England, 1856-04-04 00:00:00

NOTICE IS HEREBY GIVEN,—That, by
Indenture, dated the 6th day of March, 1856, Willie n Saul
Else. of to. 05, Bw lington-arcade. Piccadilly, in the county of
Middlesex, Jeweller, assigned all his personal estate and effects
whatsoever, as therein mentioned, unto George Pratt, of No. 10,
Gresh am-street, in the city of London, Gentleman, and Jonathan
Hazell, of Gloucester-street, Clerk nwell, in the said county of
Middlesex Jeweller, upon trust, for the benefit of ail the creditors of
the said William Saul Else, as therein men,loned, and which said
Indenture was executed by the said William caul Else, on the day of
the date thereof, in the presence of and attested by James MacGregor,
•f No. 10, -.lse-lane, in the said city of London, Sol,c'tor, and Henry
Camp, his clerk, and by the said George Pratt, and &mat, an Hazell,
respectively, on the eighth day of the same month of web, in the
presence of and attested by the said James 1114cGr.Tor. 'the said
Indenture now lies at the offices of the said James MacGregor for
execution by those creditors who have not a'ready executed the
same.

g_.
, .
. iliarki,c4._ 1/4
_
t . ,
4
• K. I 4,1,1
•
,• _ , -:- l'At.**4 . arr.• At, ~ . '
4.. 2: _ Aor,
.„• , ,
' -
7------"--,.....9 * • • ,e,''.l„ ; k ~
L'N‘tint., ~=A tor -1•,,L,‘ AL t ~,_.,
_,.."- ;* T, ,i,--a,,, " •
.
...4 • ""
W , .
„:410-,„
~..,,,,,, , ‘)krop#4,4, ' --". I
.1.,*.-.,i ItijoloWll, - .7---- i,i, • -•-.
-_ ),
--•,. ' niv.77
y,....;.,
„1....,1:,
i;.....,,..,..
, ~:„.
.4,... ..„ ..„ ..
.1,..,....., .i,
ti
x„,..._431.„i,,,,4,::,, 0:,,,__,,,:„\,..„„:,,,:::,,,,,\,,...;,..v,,,,,,,,,.,..1...4„,,,,,......i.....„„....„.„ ,
_\_,1,,,,.....1,--,,_,,,::,,,,,,,,,,.-1., -;:::,:-ie:_,„,-:;:f._:----7--4-i,,,-t,:?o.;-_.,w..4:t:o:.,..-tt..-s):_.v.:7.,........--
~.,..„,.41p. zit....
. t

o‘--
rtiEfTV 4. • .
„ not been inoofforatod with the bill brought in a dip r e •
ago with regard to the removal of the poor, as • .e• Get
to see the statutes relating to the poor simplified, •• -
• multipiitede a_"*" •-'" t
ee*ee,'"
le-Ceeee'e'
Mr. BARROW considered that the ratepayers Vesta& e
: continue to appoint the officers, and hoped the whole poor
law would be shortly consolidated. ta' 16.
Viscount EBRINGTON thanked the right hon. gentle. •
man (Mr. Bouverie) for his proposal with regard to the
auditors. He only trusted he would limit their numbers,
for upon that the sound administration of the poor law
very much depended.
Mr. PEACOCKS objected to that part of the bill which
proposed to deal with extra-parochial places.
Lord J. MANNERS said the money which the auditors
had to overlook was paid by the ratepayers of the country,
and therefore it was not so unreasonable that the ratepay.
era should have the nomination to the office, or nominate
themselves as auditors.
Mr. BOUVERIE having replied,
Leave was given-to bring in the
DRAFTS ON BANKERS.
Mr. A. PELLATT • moved the second reading of the
Drafts on Bankers Bill, the object of which is to reader
crossed cheques upon bankers legal instruments. The hon.
member stated that, before the joint-stock banks were ad•
mitted to the clearing-house, the value of the Ore.:Luck
cleared amounted to 1,000,000,0001. yearly, but that now
it might be fairly estimated at 3,000,003,0001.; and that
these enormous transactions were effected mainly through
the instrumentality of.what were called crossed cheques.
He proposed, therefore, to legalise the systein of crossed
cheques so as to' give additional security to the public and
the bankers. The custom of bankers with respect to
crossed cheques had been interfered with by recent deci-
slops in the courts of law, but if this bill were passed, it
would restore confidence and tend very materially to faci-
litate the immense monetary transactions of the country.
The bill was supported by the committee of bankers, by
the committee of the Stook Exchange, and the Governor
of the Bank of England had also given him certain merges-
lions, which he had adopted, with the view of making the
measure more efficient.
"Mr. GLYW supported the second reading, and assured
the house that there was a universal feeling in the City in
favour of some legislation of the sort, in consequence of
recent decisions in the courts of law tending to throw doubt
upon the validity of the custom among bankers. He did
-not, however, think that the bill under discuision ought
to be passed in its present shape ; but as-regarded the ques-
tion of security, which was the main object of the bill, and
of the original practice among bankers, it had his full ap-
proval. There were also other grounds upon which he was
prepared to support some measure of the sort, and that was
with reference to the currency. Within the last 10 yours
the commercial classes of the metropolis had endeavoured
to assist the Act of 1841 by economising the currency of
the country, which some persons supposed to be based
upon somewhat too contracted a basis. With this view
many alterations had been introduced in the clearing-
house and general conduct of banking business, and im-
mense sums of money daily passed through the clearing.
house, and were settled without the use or intervention of
-.a single bank note. (Hear.) This bill would add mate-
rially to the efficiency of the system, and he was therefore
prepared to support its principle, reserving to himself the
right to oppose the 3d clause in committee, as he did not
' consider that portion of the measure necessary or called for.
The ATTORNEY-GENERAL said that the result of
his professional experience induced him to give his hearty
support to a bill the principle of which he approved, al-
though he believed some of its details would require con-
siderable modification.
Mr. JOHN -MA.CGREGOR expressed a hope that if
the bill were extended to Scotland it would be permissive,
and not compthory.
Mr, HANKEY did not think that any legislation was
required upon the subject. The present system prevented
bankers from paying money incautiously, which was the
object of the bill. The object which the hon. gentleman
the member for Southwark wished to effect would be
already answered under the existing law, by drawing
checks at sight, payable to an individual named. He could
not recommend the house to adopt any legislation on the
subject while the present system was found to act so well.
Mr. WILKINSON supported the bill.
The bill was then read a second time, and ordered to be
committed on Monday next.
MARRIED WOMEN'S REVERSIONARY INTEREST

BILL.
Mr. MALINS, in moving that the house go into com-
mittee on this hill, said that there were innumerable cases
whore ladies who were entitled to a reversion, exp, c :ant
On the death of a party, were unable to settle that pro-
perty in consequence of the present state of the law.
object of the bill was to remedy thisdefect, and he trusted`
the house would assist him to carry it out.
Mr. WALPOLE thought that the object of the bill, in.
stead of being to enable married women to settle their
property in reversion for the benefit of themselves and
children, or for their relations after them, was to enable
the husband to use his right and influence to hold that
Property. It was true that, with reference to landed pro-
perty, they could take the acknowledgment, of married
women, and so part with it, but the hon. and learned gen-
tleman seemed to forget tluit the landed property thus
coming to married women was of incalculably small
amount. It was the personal property left to them which
would enable the husband to sell that reversionary interest,
to the greet disadvantage of the wife and of those who came
after her, to enable him to pay his debts. If a e:ause was
introduced...to prevent'the disposition of property acquired
by a married woman after her marriage, he should not
object to the bill.
The ATTORNEY-GENERAL urged upon the hoe. any
learned member for 'Wallingford (Ur. Matins) the post-
ponement of the bill, as this was the first time its objects
had been fully stated to the house, and the bill required
earnest consideration.
Mr. HADFIELD approved of the principle of the mea-

snre.
The bill then passed through committee, it being under-
stood that an opportvtnity should be given fo ithe proposi-
tion of amendments before the measure passed.
The third reading of the bill was appointed for this day
week (Thursday:)
THE FACTORIES BILL.
On the order for the second reading being road,
Col. DUNNE moved that it be read a second time that
day six months.
Col. W. PATTEN said that the hon. and learned mem-
ber for Oldham had made suggestions since the debate of
yesterday which were so reasonable that he (Col. W.
Patton) would at once accede to them. The amendments
which he intended to make in the bill would be printed
and placed in the hands of his hon. friend the member for
Oldham for his approbation.
Mr. COBBETT said he would postpone all opposition
on his past at present, but he begged it to be understood
that he did not thereby commit himself to the principle
of the bill. If the amendments did not meet vvith his ap-
probation, he should oppose them at the proper time.
Col. DUNNE opposed the bill, on the ground that it
would take away from persons who had no representatives
in that house that protection to which they were entitltd.
The injuries to which the factory people were liable were
enormous. The reports showed that the manufacturers
were not so ready as they ought to be to meet the cases of
these injuries with redress.
Mr. C.ROSSLEY supported the second reading of the
bill, and vindicated the millowners from the aspersions
cast on their hunrinity by the gallant member for Poem-
lington and the noble lord the member for Colchester.
Mr. BARROW also supported the measure, and won-
dered why it should be opposed, seeing the great advan-
tages which the arbitration clause conferred on the opera-
fives.
Tho bill was then react a second time.
Adjourned at five minutes past 12 o'clock.

PANAMA RAILWAY COMPANY.

City Artzde.)
(From, the Times'
The following communication relates to the
financial position of the Panama Railway Com-
pany. The writer is correct as regards the dividend
paid and the general price of the stock, but error
neously questions the statement, that the rise of
one or two per cent., reported by the last packet,
was wholly due to the traffic having been tempo-
rarily suspended via Nicaragua. His information
is likewise imperfect as to the natural advantages
of the Panama line having secured it the largest
share of the passenger traffic and "all the freight."
The competition of the Nicaragua Company lately
caused the persons-interested in the Panama route
to consent to a mutual arrangement for the regu-
lation of fares, and until Nicaragua became dis-
turbed in consequence of the Walker invasion that
route was steadily gaining the preference for the
transportation of specie :
"Sir,—The remarks of the New York correspondent
of the Times on Walker's proceedings in Nicaragua
being calculated to create a very erroneous impression
as to the position of the Panama Railway Company, I
beg leave to correct his singular misrepresentations. So
tar from both companies,' the abovenamed and the
Nicaragua Transit Company, being reduced by rivalry
to the condition of inability to pay any dividend, as de-
scribed, the last half-yearly dividend of the former,
iuje ouapnrueavriyls sixmonths last,
wasGper cent., which the
fully warranted, and
declaredreceipts
of th
which left a considerable surplus after paying all ex-
penses and interest on outstanding bonds. The traffic
over the Isthmus is rapidly increasing, and the stock of
the company is high, as the quotation in your own city
article (1051) shows ; but, so far from this resulting
from the entire traffio being thrown on the line by
Walker's confiscation of the property of the Nicaragua
Transit Company, it is only a very slight advance on the
quotations of the last 12 months.
"The rivalry alluded to by your New York corre-
spondent was between the steamers of the Nicaragua
Company and those of the United States' Mail Com-
pany, and has been terminated by the former selling
their vessels on the West Coast to the Pacific Mail Com-
pany, and purchasing those of the United States' Mail
Company on the Atlantic. This arrangement gives the
two companies an equal interest in both routes, but the
natural advantages of the Panama line have secured it
the largest share of the passenger traffic and all the
freight, which could never be profitably carried over the
Nicaragua route.
" As for any cause of apprehension which might other-
wise exist on the score of Central American troubles, all
such is removed, as regards the Panama Company, by
the 35th Article of the treaty between the United States
and New Grenada, which secures to the former ig
of way across the Isthmus. Should this right of way be
therefore, is under
interfered with by Walker and his band, the Gver
ment of the United States is bound to protect it. Capi-
tal invested in the Panama Railway',
the safeguard of the United States Government, this
being the only instance, except the subsequent Clayton-
Bulwer treaty, in which that shield is thrown over the
property of American citizens in a foreign State.
" TUE LONDON AGENT FOR THI COMPANY."

The Independance Beige states that the adjudication of
the Xeres and Seville Railway has been made by the
Spanish Government to the Prost Company.
A letter from Pavia of the 25th ult., in the Op
irrient
of Turin, says :—" I have already told you of the arrest
of 15 students at Padua, and I may now add that tb•
cause of this arrest was the display one fine morning of
the French, British, and Sardinian flags gaily waving in
one of the most frequented squares of the town. Thera
was a similar manifestation at Mantua some day. ago,
but the authors have not yet been discovered." j