The Sun.
London, England, 1856-07-24 00:00:00

RAILWAY INTELLIGENCE.

THE MOVEMENT° TN BREAD STUFFS.

In April last, when the preliminaries of peece in Eta- I RAILWAY REFORM ASSOCIATION.
rope bad been established, and the reopening of the I Yesterday the first ordinary meeting of the Railway
State canals was at band, operators in breadstuffs begsn '
to lose confidence in the stability of prices. It was Reform Association was held at the London Tavern,
known that there were large supplies in the interior to Bishopegate-street. It was numerously attended by in.
come forward, and it was thought by many persons that fluential shareholders in the principal railways.
supplies would be obtained, to a greater or less extent, Mr. Mums (the chairman) presided, and oongratu•
frem the ports of the Black Sea. It was also reported lated them on the success of the efforts of the association
that there was a glut of receipts at Marseilles, in France.
Withal,
France Withal, too, the spring weather opened well in F
to obtain a reduction on the proxy stamp duty. A depu•
and England, and was considered highly favourab'e fir I tation had waited on the Chancellor of the Exchequer,
the conseig crops. • Under those circumstance-, prices ! who was so convinced of the necessity for the reduction
by the first of May reached a low point, and were de- l that he readily assented to it. The chairman proceeded
stiued tar each a lower range before the let of June, and I to detail the subjects which the committee thought Pare
liament ought to be mernorialised upon for the security
he was bold operator who shipped flour and grain
abroad under the appearance of such odds. Yet there of shareholders, the principal of which were—the sepa•
ration of revenue from capital ; that the common seal of
were some who continued to export. It s roe became evi-
dent that the euppltee in England and France were less a cempany should not be binding merely because the di•
than was supposed,that they would be compelled to aug- rectors had sanctioned the procegiing, hut that thesharee
merit their stocks before the advent of harvest, let the holders generally should have a voice in the matter ; that
weather be as it might. It was also discovered that the
there should be an uniform system of accounts on all rail-
, expected supplies from the Black Sea were not to be had, way companies ;that power should be given to reject a
and that the United States contained the only granaries director before his term of office expired, in the event of
from which they could freely obtain them. These cir- his conduct not being sati-factory ; that a similar system
curnstances strengthened (prices abroad early in Juno, for managing railways to that existing in France should
and produced a cerrespundieg effecc here. Toe recent be instituted by the appointment of three directors, who
arrivahs from Europe have added to these general unf 1- should he paid well enough to devote all their
atten-
veurable prospects for low prices: The news of heavy time to the affairs of the company ; that a majority of
injury to crops in Francs from the late inundation, and three-fifths of the shareholders should have the power of
of unfavourable weather in England, has produced con- applying to Government for the audit of accounts, which
siderable excitement in breadstuffs in this market and an should take place before the bills were paid; that there
enhancement- of prices. Fortunately for us we have should be published rates and tariffs ; that no favour
ample supplies with which to meet this increased demand. should be extended to any particular company, as was
Toe receipts of flour far only the past week, from the the case with the Northern and Eastern Coal Company
interior, ending Saturday, July 5, amounted to 81,000 on the Eastern Counties Railway, but that all persons
barrels of flour, about 470,000 bushels of wheat, and without distinction should be at liberty to use any rail-
-400,000 bushels of corn. The total receipts since Sept. way upon the same terms; that three-fifths of the share-
1, 1855, have been 2,364,378 barrels of flour, 5,311,775 holders should have power to reject any person who does
bushels of wheat, and 4,126,066 of corn. To these re- not give satisfaction, to prevent any official from refits-
ceipts should be added large supplies from the Southern ing touit his appointment because he had been elected
States, including from East Tennessee alone over 500.000 for a fixed period ; that the legislative powers exercised
bushels of wheat. For some time past the exports of by the two houses of-Parliament in relation to railway
wheat to Great Britain have greatly exceeded those of property should be limited, and that a competent autho-
flour, the English preferring to do their own milling. rity should be appointed to decide various questions in-
Notwithstanding this, the exports of flour have alsnbeeu stead of leaving them to the decision of a committee of
large. The exports of wheat within two or three weeks tour members of Parliament ; and that directors should
past have probably reached over a million bushels; be made responsible for the proper management of the
Within the past week alone the shipments of wheat affairs of the cornpa y. Various other subjects were also
have exceeded 500,000 bushels, about 100,000 of which mentioned by the chairman as deserving of attention.
were taken on Saturday, and about 100,000 more were Major COURT thought a great deal of existing mis-
engaged on Monday, the 7th inst. It is difficult to say management was owing to the apathy of shareholders,
how touch remains in the country to come forward, be,. wao already possessed power to make directors do their
i., is probable that it may be nearly equal to the demarel -*e
duty. a
until the new crop conies in, which is said to promise Several speeches were made in favour of the suggee-
a large yield and of good quality. Should the crops lions of the chairman ; and a resolution, approving of a
in England and France fall much below au average, memorial to Government, in which they should be em-
we may expect prices to continue remunerative for bodied, having been carried, the meeting separated.
our incoming crops. The recent large sales of bread-
stuffs for Europe are auspicious for the country.
Usually at this period of the year, when breadstuffs are
low and dull, and cotton shipments are measurably over,
we have little for export beyond specie, which, on the
advance of sterling exchange, is freely drawn. Nuw,
everything seems to work favourably. A large crop of
cotton has been sold at high prices, and in what are ge-
nerally the dull summer months we find a large demand
for breadstuffs and provisions at advancing prices. All
this must have its effect upon the general prosperity of
the country. The heavy exports of grain and flour goine
on must supply considerab'e amounts of sterling ex-
change, and tend to check the shipments of specie. It
will be perceived that the chief rise in prices has been
realised on the common and medium grades, which have
formed the bulk of the supplies. Toe stock of extra
brands, from the scarcity of prime and choice wheat, bar
been limited throughout the season, and mostly taken
for home consumption. Hence, for this description of
flour prices have not varied so much, and were even
higher on the 31St of May, in some ca-es, than they are
w. Our exports of wheat and corn would both be,
much larger could cargoes of good qualities have reacle-i
u-, to a grater extent arid in good ebtpping order. An un-
usual proportion of Western corn has COille to Olarkkt tili,
season wet or heated, and had to be sold at low fieures for

MANCHESTER, SHEFFIELD, AND LINCOLN-

SHIRE.

~ither distilling or short voyages to Eastern StAtes' ports
Prime to choice white Southern, most saleatile in Liver-
pool, has, in a measure, been exhAusted, and cea.es
almost to appear in market. Yellow also is scarc6. Tht-
Upper Lake and Western mixed and red grates of wheat
from that part of the country have been in exciss (.1
supply, compared with the stock of prime white and red
Southern and Canadian, end prices have varied accord
ingly. No supplies of the new growth have reached
market sufficiently dry or in sufficient quantities yet tc
ju-tify shipment ; but it must soon reach us in large
amount. and enter freely into domestic use. On the 3ii
inst 2,000 bushels of new Georgia grown wheat was at.
Auuust.e, en route for tne seaboard and a market.—
New York herald.

Yesterday the half-yeariy meeting was held at the
Palatine Hotel, Manchester ; Mr. Chapman presiding.
An abstract of the half•yearly report, and statement of
accounts, bas already appeared in The Sun. A letter was
read from the Earl of Yarborough, the chairman of the
company, expressing regret that the state of his health
still compelled les absence from the meetings, and his en-
tire approval of the measures adopted during the balf.year.
The Chairman having commented on the improved posi-
tion and prospects of the company moved the adoption
of the report, which was unanimously agreed to, as were
subsequent resolutions declaring the guarant-ed divi-
dends on the various preference stocks of the company
(including the new 31 per cent. stock), and a dividend
it the rate of ss. per 1001. of original stock, for the half-
year ending 80th June last ; all payable on the 15th Aug.
The meeting was then made special, and' a resolution
was passed for the creation of debenture stock to the
iteioutit of 2 370,000/ , and for the extinction of deben-
ure bonds ❑ow existing, the hollers to be entitled to a
perpetual guaranteed 4 per cent. interest, secured by a
:lest charge upon the tolls, &c., of the company ; the
;leer stuck, in shares of 101., to be offered rateably to
the shareholders in the proportion -of 10.1. for every 251.
of share .:apital ; and to be paid up in instalments of 10i.
tu 11 155., from the 157. h Dec. next to the 1.4 Jan.,
1861—the shares nit so issued to he disposed of at the
discretion of the direct irs for the interest of the corn-
oany. It was stated that the necessary act of
Parlia-
'nent was obtained some years ago.

COLCHESTER, STOUR VALLEY, SUDBURY,

AND HALSTEAD.

The report of the director-, of tab; company states that
,he rent due on the lit of July had been paid by the
Eastern Counties Railway Company. The board con-
41der it is of the greatest importande to the interests of
the shareholders to call their special atieLtion to the
position of the bond debt of this company, now amount-
ing to the sum of 34,0251., of which upwards of 30,0001.
will fall due on the Ist of February, 18a., 'These b lids
are at present principally held by ttie parties to whom
they were originally issued, and most of them have been
i-wice renewed by such holders. At the half-yearly
fleeting held in August, 1555, the sharehOlders autho.
ri,,ed the creation and issue of 9,000 guaranteed shares
of Si. each, for payment of the bond debt. It was anti-
elpated that by these means the company would have
i)cen able to discharge the debt falling due on the 1-t of
February last, but, although the directors issued the
:.hares at 5 per cent., the shareholders did not take them
up to any sufficient amount, and had it not been for the
eiud consideration of the holders of the several bonds
then falling due in agreeing to renew them for two years
:anger, the company would most probably have been
placed in a situation of great embarrassment. The board
~ave now ascertained that there is no probability of the
renewal of the great bulk of such bonds falling due on
the Ist of February, 1858.
In deliberating upon this question the directors had
to regard the fact that the entire surplus income of the
company from the present period to the let of February,
1858, would be insuffitent to liquidate the amount of Ibe
,ionds then falling due by a sum of about, 25.0001. They
r,erefore put themselves in communication with the
holder of upwards of 30,0001. of such bonds, and ascer-
ained that he is willing to agree that if the company
will bind themselves to apply their surplus income every
alf year to the payment of such bonds until the whole
of the bond-debt shall be discharged he would accept
payment of the whole of his bonds in such manner and
at such half yearly periods. The directors state that
four years and a half' would be sufficient to effect the
extinction of the company's bond-debt, and they strongly
recommend the adoption of the proposition by the
,hareholders. They state that the effect of thus paying
.ff the bond-debt out of revenue will be an addition of
1 per cent, to the dividend on the ordinary shares. The
lapital account shows that 281,7581. had been expended.
['he revenue account shows that 4,433/. for the half-
year's rent bad been received, and that 1,1631. would be
-equired to pay expenses and interest on loans and pre-
:erence shares, leaving 3,2801. towards paying off the
aonds of the company.

BRISTOL, SOUTH WALES, AND SOUTH-
AMPTON UNION.

A new line of railway is projected under favourable
luQpices, which is intended to effect a great saving of
listance between South Wales and Bristol and South-
,rnpton. The object is to unite Bristol with South
\Vales, and to connect the railways on the English side
f the Bristol Channel with those on the Welsh side by
,s floating steam bridge, crossing the channel at the
I.rrow point, called the new passage, near this mouth of
he Wye, and thus uniting the South Wales at Port-
;kewit station, about 30 miles from Glocester, with the
G-reat Western, Midland, and Bristol and Exeter Rail-
.says at Bristol by means of a short line of railway,
.bout eight miles, between Bristol and the south side of
'he channel at the new passage. By this means a saving
-1 the distance by rail between Bristol and Newport and
Cardiff of about 55 miles will be effected, the present
route being by the detour through Glocester.

THE ORANGE AND RIBBON RIOT NEAR

GAr Es fl BAD.

On Monday John Hannah, John Rogers, James Don-
,elly, Peter or Patrick Handling, Francis Watson, Ed-
/yard M'Cann, Jahn 111PAnally, and Francis M' Williams
vere brought before the mayor and magistrates of
Gateshead chargei w.ith riot and assault at the Felling-
;ate. John Spence, who was severely wounded in the
ffray, stated that he was one of the Orange procession
In Saturday week, which was stopped and assaulted at
he Felling-gate by a party of Ribbonmen ; he was
:tarrying a Bible. One of the party sfruck him with a
Morgan RatEler ;" three of his teeth were knocked out,
-ind he received. 7 wounds on the bead. He would not
know the man that struck bin]. On cross-examination
'ie Bard there were many Oraitge lodges in the town, and
their object was to support Protestant principles. There
was no oath administered, but the men were bound to
,t end God's worship. When they were stopped by the
Ribbonmen they had ten minutes partey amongst them-
'lves. The band would not go any further' but some
to the procession said they would go on. , One man in
the procession carried a sword, but that was only a sign
.if office. He was, the " tyler." Mary, wife of Wm.
A.irley, said she walked with the OraigfAnen,,and she
identified M'A wally as the man who assaulted Spence.
'he also saw M' Williams with a gun in his hand. When
he procession was stopped a man came from the gate,
and said if they did not turn back the Ribbonmen would
walk knee-deep in their Orange blood. William Brown,
s labouring man in the Orange procession, carried the.
first banner, on which was an inscription ---" King
%illiam, Derry, Antrim, Enniskillen, and Boyne."
This man stated that the procession was stopped by a
number of men having scythes, sticks, guns, pistols,
and other weapons. Two men came forward with sticks
and paid they bad been sent to give the Orangemen
earning that if they went on a foot further they should
lie. Witness remonstrated, and reminded them that
the Irishmen had been allowed to proceed' quietly on
se Patrick's day. Rogers, who had a stink in his hand
with a spike at the end of it, said, "To hell, with the
Church and state ; come on, boys." A general shouting
and yelling was then set up, and witness was struck by
\l'Anally with a "Morgan Rattler" on his head; he
was knocked down and lost his senses. When he reco-
vered Hannah fired a pistol towards him, and witness
kit on his bead as if he was touched with
,a ,hot iron.
-)thtr witnesses were called to show that Donnelly fired
elm at the procession, and that Watson, M•Cann, and
handling were active in throwing stones. A man
tallied Owen Duffy, who has absconded, had a large
.undle containing gunpowder and shot. The butt-end
f a " Morgan Rattler " aas produced, having been
,eked up after the disturbance. It was competed of
;utia percha, with a piece of lead in,ide, and bad formed
of a very f rmidable weapon. Three witnesses were
to prove an alibi in the case of M‘Williams, and
he was discharged. The others were committed for
trial at the assizes.