The Sun.
London, England, 1856-02-20 00:00:00

ration of the city of London would mind its own bus
ness, and not interfere in the matter.

Sir IL MUGGERIUGE said that he went with the report
to a considerable extent, but he was quite confident that
it was exceedingly important to them as to the way in
which they intended to word the petition. In these days
of progression they must progress also, and he doubted
whether it was wise for them to oppose the bill. Lou.
don was one of the cheapest ports in the world, the ton-
nage dues were so light, the navigation was in a most
excellent state, and they had a surplus of 100,000/.
What was to be done with the sum ? For sech cases the
bill provided, net interfering where the funds were re-
quired for extra services.
Mr. Cox remarked that they might depend upon it
if the bill passed, the Government would soon show that
they considered it fair game to take any property be-
longing to the corporation.

Mr. J. WOOD having briefly replied,
The motion was unanimously carried, and a petition
prepared for presentation to the House of Commons
against the bill.

NEWCASTLE-UPON-TYNE.
Mr. Philipson, the Mayor of Newcastle-upon-Tyne,
in his recent speech at the local meeting in that borough,
entered into a searching analytis of the arguments ad-
vanced by Mr. Lowe in support of his bill. Mr. Philip-
son argued that the dues which the commissioners were
now seeking to abrogate were legally payable and due,
and that there was no ground for interfering with them,
Mr. Philipson referred to various points in support of
his argument, and concluded by saying :—" We are told
by Mr. Lowe that it is a wrong that these dues should
be levied, and be paid, as this is, to repair your streets
and so forth. I don't admit that this is a correct state-
ment of the case ; but if Mr. Lowe will inquire into what
is proceeding at this moment in London, and take up the
Times of Saturday, he will find that they are now taking
from the coal dues the sum of 80,0001. for the purpose
of forming a street in Southwark. I think, therefore,
he might just as well direct his attention to that before
he goes much further in this matter." Mr. Philipson
then moved "that a petition be presented to the Rouse
of Commons against the bill now before the house for
regulating, as it is termed, the local dues on ships and
on goods carried in ships." Mr. R. Plummer seconded
the motion, and Mr. W. Turner opposed it, but on a di-
vision it was carried with only one dissentient voice—
that of Mr. Turner himself. It was resolved that the
petition be forwarded to the members of the town for
presentation, and that the members for the several
boroughs of Northumberland and Durham be requested
to support its prayer.

EASTERN STEAM NAVIGATION COM-
PANY.

The half-yearly meeting of this company was held
yesterday, when the report published in The Sun of yes-
terday was laid before the shareholders. A report was
also read from Mr. Brunel, the engineer, recommending
that on the completion of the monster steam-vessel, the
works of which are at present suspended in consequence
of the failure of Mr. Scott Russell, that she should, be-
fore the Australian passage was undertaken, be tested
by short voyages to America, which, it was believed,
would prove remunerative to the company, and advan-
tageous to the vessel. Mr. Hope, the chairman, ex-
plained that the hull of the vessel was being erected on
the company's own property, whilst the engines
and screw were being constructed on the.prerni-es
of Mr. Russell, but the directors were advised they
were the property of the company, and could not be
claimed by the creditors of Mr. Russell. He was in
hopes that the works might he soon resumed under the
direction of Mr. Russell or his friends, and felt gratified
in the consideration that their contract Lad not been an
onerous ose upon Mr. Russell, and had no part in caus-
ing his failure. He regretted that the calls had not
been paid up ; and others who, like himself, had paid all
their calls, felt it was unjust on the part of proprietors
who allowed their calls to remain in arrears to the ex-
tent of 149,0001. In answer to questions, it was ex-
plained that the parties in al rear of calls were generslly
solvent, though some of them were insolvent, and the
amount they had paid on their shares would go into the
common stock of the company. With regard to the
financial condition of the company, with respect to
Mr. Scott Russell, the total amount of
contract with that gentleman was 332. 250/.,
which 292,2951. had been paid. The 2,000 shares o
Mr. Russell, held in trust by the company, would be
forfeited if the contract was not carried out, the amount
paid upon them being at least 101. per share. After a
short conversation as to the enforcement of calls in air-
rear, Mr. Brunel stated that, in his opinion, the vessel
might be completed without difficulty by August next,
providing arrangements could he at once entrired into
for the work being proceeded with at the ordinary speed,
and nothing had occurred beyond the failure of Mr.
Russell to induce him to suppose that the cost of the
vessel would be materially increased beyond the original
contract; though, of courss, it would be impossible to say
what might ultimately be the loss to the company by
Mr. Russell's failure. The report was received and
adopted, and a resolution passed that it was the opinion
of the shareholders that the directors might, at their
discretion, forfeit or accept a surrender of shares on such
terms as they might deem expedient for the interests of
the company.