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

IMPERIAL PARLIAMENT.

country into contempt, and the more it was known the
treater would be the indignation of the people against it...
He could not help regretting that the noble lord at thee
head of the Government had soiled his hands with suck.
a dirty bill. He for one would not be a party to it.
Mr. GLADSTONE said that whatever might be that
result of the debate, great scandal would arise from this'
bill. The session was now far advanced, still it would.
be impossible to collect the opinion of the house on the,
subject, and, therefore, he trusted that the bill would be
rejected, and that the Government would not collect all
its powers and force this bill into a law. Legislation on
this subject was not at all required. The act of 1534
provided for the appointment of suffragans to assist the
bishops. There might be cases where a resignation would
be better than the appointment of a suffragan, but on
the other hand a suffragan would in some cases be pre-
ferable to a resignation. It had been said that a rector
could not retire on a pension, but a rector could appoint
a curate, and the act of Henry gave the power to bishops
to appoint a suffragan, which was, in fact, a bishop's
curate. (Hear.) The sums set down in the bill as pen-
sions were generally considered too large, and many of
the members of the house had stated although
they would vote for the second reading of the
bill, they would not pledge themselves to assent
to the amounts so set down. He begged to put a ques-
tion to her Majesty's Government, which he wished
answered. What he wanted toknow was, whether it was
competent for the house to go into committee to reduce
the amount of pensions without endangering the passing
of the bill ! For the reasons he had stated he should
vote against the bill.
Sir G. GREY defended the bill, and stated there was
no contract in this case. The letter of his noble friend
that had been alluded to was merely one which stated
that the wishes of those rev, prelates should be submit-
ted to Parliament with a view to their being carried
into effect. The act of Henry, if applied to
this case, would have compelled the retirement
of the bishops on their full salaries. He trusted that
the bill would receive the sanction of the house, and
thus approve of the means that had been adopted to
*meet the difficulties of the case.
Mr. HENLEY insisted that any court of law would
hold a transaction similar to the present to be simony,
if it bad occurred between the poor rector and his patron
with regard to the resignation of his benefice, and
that the Court of Chancery would hold that thb nego-
tiation which had been entered into between the two
prelates and the Government was a binding contract.
Lord PALMERSTON said the Government intended
to stand by the salaries as proposed in the bill,
and if the pensions were reduced it would be for the
bishops to decide whether they would retire. The Go-
vernment had fulfilled their part of the bargain by the
introduction of the bill, and it was for the house to de-
cide whether it should be adopted. The Government
had been asked during this discussion what course the
bishops would adopt if the proposed salaries were re-
duced in committee. The only answer he could give to
that question was that it would be for the bishops them-
selves to decide.
Mr. GLADSTONE—My question was not what
course the bishops would take, but shat the Govern.
ment would do if the salaries were reduced.
Lord PALMERSTON—The Government would wit.
lingly announce what course they would take if the re
I dne.-,ion of the salaries was insisted on. (Loud cries o
" Oh, oh.").
The house then divided, when there appeared—
For the second reading l5l
Against it
Majority in favour of the second reading -79
The bill was read a second time, and was ordered to
b committed to-morrow at 12 o'clock.
The other orders of the day were then disposed of,
and the house adjourned at six o'clock.

RAILWAY REFORM ASSOCIATION.

Yesterday the first ordinary meeting of the Railway
Reform Association was held at the London Tavern,
Bishopsgate•street. It was numerously attended by in-
fluential shareholders in the principal railways.

HOUSE OF COMMONS.—{YESTERDAY.)
The S2EAKER took the chair at a quarter past twelve
o'clock.
TEIE SHEEP CONTAGIOUS DISEASES PRE-
VENTION BILL.
On the motion of Mr. LABOUCHERE, this bill,
which was a continuance bill, was read a first and
second time, and ordered to be committed to-morrow.
THE VENTILATION OF THE HOUSE.
Mord R. CECIL, in consequence of the excessive heat
of the house, moved that the windows be opened.
The SPEAKER said that opening the windows
would aggravate the evil complained of by the noble
lord. It would increase the temperature of the house
by 10 degrees.
Mr. THORNELY said there was another objection
to the windows being opened. Some members could
stand excessive heat and cold, but could not sit in a
draught without suffering severely, and that was his
case. (Hear, hear.)
Lord R. CECIL then put the question of which he
had given notice, viz.,—To ask the President of the
B ,ard of Works, whether he has any objection to place
a complaint-book in each of the division lobbies, in
which members may enter any complaints they may
have to make with reference to the ventilation of the
house.
The SPEAKER, in the absence of the President of
tee Board of Works, said that any hon. meriiher having
a complaint to make of the temperature of the house
Should mention it to the Sergeaneat-Arms. (Hear.)
The subject then dropped, and the windows were
subsequently opened.
LORD LUCAN AND THE JUDGE-ADVOCATE-
GENERAL.
Mr. KINNAIRD asked whether it was likely the
report of the Board of Inquiry at Chelsea would be in
the hands of hon. members before the prorogation of
Parliament?:
Mr. VILLIERS said he had every reason to believe
the report would be in the hands of hon. members before
that time, and be should therefore forbear continuing a
controversy which a noble lord in another place had
originated and seemed disposed to continue. (Cries of
order, from Colonel French.) He hoped the friends of
the noble lord in that house would allow him (Mr. Vil-
liers) to say a word or two more on this matter,
which was of a personal nature, and] attacked
bis character. (Hear, hear.) He repeated that he
should decline continuing the controversy then,
because he thought it showed a want of respect for that
house to bandy personalities there with the noble lord—
(hear, hear)—and also because the report would shortly
be in the bands of hon. members and before the public,
when they would have an opportunity of
.judging whe-
ther he had stated anything incorrect with respect to
the inquiry or to the evidence. (Hear, hear.) They
would then see whether a solitary case of personal ani-
lealversion by the Commissioner.; was satisfied by the
Evidence, and whether the inquiry with regard to it was
or was not complete. (Hear, hear.) He was convinced
a friend of the noble lord's in that house would convey
to him what passed there, and if be did so be hoped he
would tell the noble lord from him (Mr. Villiers), that
lie treated with the utmost indifference his personalities.
(Loud cheers.)
Col. FRENCH said that be considered the explana-
tion of the noble lord in another place perfectly satin.
factory. Thu noble lord there denied that he had said
anything offensive to the right hon. gentleman, and fur-
thernicre that he never meant to have done so.
The subject then dropped.
GRAND JURIES, &c., (IRELAND) BILL.
After a short discussion the motion for the seen d
readirg of this bill was withdrawn.
POOR LAW (IRELAND) BILL.
The order for the second reading of this bill was dis-
charged.
BISHOPS OF LONDON AND DURHAM RE-
TIREMENT BILL—ADJOURNED DEBATE.
On the resumption of the debate on this bill,
Sir W. TIEA.THCOTE said that, in the unavoidable
abeence of the right hon. gentleman the member for
Oxfordshire, he intended to move the motion of which
the right hon. gentleman had given notice. He (Sir
W. Heathcote) urged the Government not to push for-
ward this bill at that period of the session ; and, if there
was no other objection to be urged against its progress,
it was the want of time to properly consider a measure
that would be of the utmost importance in its imme-
diate application to the Church, and the conse-
quences that might result from it in the considera-
tion of other causes of a similar character. He called
upon the Government to abandon this measure, and in
the next session introduce one of a general nature. If
driven to a decision on this bill, he should feel no diee-
culty in voting against it on its merits, believing that it
partook largely of the character of simony. The Go-
vernment might not to force the house to a decision,
and he hoped hon. members would support him in his
amendment, that the bill be read a second time that day
three months. (Rear, hear.)
Lord ROBERT CECIL seconded the amendment.
He objected to the principle of the measure, because it
would have the effect of leading in every case to re-
tirement for a twofold bargain. One between the re-
tiring bishop and the Government relative to the amount
of the pension, and the other between the Government
and Parliament relative to granting it. It was also
likely to give rise to political jeebery. He should give
the measure his most strenuous opposition.
Mr. M. MILNES said this was an exceptional mea-
sure, and to consider that it would be taken as a prece-
dent or as the groundwork of a genera! measure, was an
assumption on the part of those who a lvanced that line
of argument that he hoped the House would not listen to.
This measure would he advantageous to the dioceses in
question, and no scandal would attach to the Church from
it, except from that which had fallen from those who
opposed it. lie hoped the house would not be led
away by the exposition of schemes for a general measure,
and in consequence reject this bill. There were only
two grounds on which the house could reject it,—first,
upon the ground that the duties of a bishop were so
unimportant that these aged prelates were able to per-
form them as well as any one else ; and secondly, on the
ground that the terms which the bishops had proposed
were so exorbitant that the house could not agree to
teem.
Mr. NAPIER supported the amendment. He
thought Parliament ought not to be called on to assent
to the conditional resignation of a bishop, which was
unsouni in principle. The resignation of a bishop, ac-
cording to the doctrines of the Church, should be pure,
simple, and absolute. The correspondence between Lord
Palmerston and the Bishops of London and Durham
showed that the resignations of these bishops would not
be pure, simple, and absolute, but that they would par-
take of a siinoniacal character.
Mr. CARDWELL supported the bill, as being neces-
sary to provide efficient supervision for the two dioceses
in question. He considered the charge of simony un-
founded.
Mr. ROEBUCK opposed the bill. lie condemned
the house providing " soft cushions" for these effete
bishops on their retirement, in the shape of a pen-
sion of 6,000/. a-year, whilst they deprived aged
and infirm clergymen from making similar advantageous
arrangements. The whole of the business was a scandal
and a shame to the Church, and he hoped the house
would not sanction it.
Mr. A. BLACK supported the bill. There was no-
thing immoral in a bishop asking for a retiring pension,
nor was it contrary to the Bible. If they rejected the
bill they would be inflicting a great injustice on the
country. He should be glad if the Church was left to
itself, but so long as the house meddled with Church
affairs so long must these discussions continue.
Sir J. GRAHAM acquitted the noble lord at the
bead of the Government of possessing any desire to in-
crease his patronage by this measure, because the corre- The mania for establishing Credit Mobiliers in Ger-
spondence between him and the rev, prelates referred to many shows no signs of subsiding. To those of Vienna,
showed that it did not originate with hen. He (Sir J. Frankfort, Darmstadt, Leipsic, Dessau, and others, of
Graham) would rather continue the evils complained of which the shares are at premiums ranging from 10 to
from these bishops being unable to effectually die- 90 per cent., there are now two additions which have
charge their duties a little while longer than by agree- just been introduced at Berlin. The first consists of
ing to the second reading of the bill affirm a principle several second-rate merchants and bankers. The other, On Monday Sohn Hannah, John Rogers, James Don,
that was novel, dangerous, and had been unwisely which is designated the Society of Commercial Credit, nelly, Peter or Patrick Handling, Francis Watson, Ed-
adopted by the present Government. (Hear, hear.) It counts among its administrators some of the first mere ward M'Cann, John M'Anally, and Francis M‘Williams
was impossible to consider this question apart from cantilenames in Berlin. The capital is fixed at 15,000,000 were brought before the mayor and magistrates of
the correspondence alluded to, and simony, divested of thalers (or 2,250,0001.), of which the directors take Gateshead charged with riot and assault at the Felling-
all technicalities, was this : the purchase or sale of the 7,500,000 thalers at par, while the remainder are to be gate. John Spence, who was severely wounded in the
voidance of a spiritual cure for a monied con- sold at a premium, which is to be carried to the credit affray, stated that he was one of the Orange procession
sideration stipulated to be paid upon its void- of the company. Upon a subscription being opened for on Saturday week, which was stopped and assaulted at
ante. In making these proposals the two bishops a portion of the amount at 10 premium applications the Felling-gate by a party of Ribbonmen ;he was
appe
eared to have had that in view. They 'felt were sent in to the extent of 140,000,000 thalers The carrying a Bible. One of the party struck him with a
there
was a legal obstacle to such an arrangement eagerness to obtain shares is attributable to the fact of " Morgan Rattler'; three of his teeth were knocked out,
as this, for they both used the same remarkableexpres- the company having at its head commercial men who
sion, "if the law allows it"—clearly ' feeling that the law have always been known to be successful. The managers and he received 7 wounds on the head. He would not.
know the man that struck him. On cross-examination
of simony was, as they understood it, a preliminary ob- reserve to themselves sper cent. out of the profits, and he said there were many Orange lodges in the town, and
jection. The right hon. baronet then proceeded to look the directors are to have 5 cent. before any distr'bu-
at the question in that light, and called attention to the lion whatever is made their object was to support Protestant principles. There
was no oath administered, but the men were bound to
effect it would have on the clergy if such privileges were are of 200 to thepershareholders.The sharesl
attend God's worship. When they were stopped by the
to be given to the heads of the Church and at 17 per ntenateprereenuaciuhm, and are already in great demand
Ribbonmen they had ten minutes parley amongst them-
denied to them. He objected to the bill because Labereeeiseestes.i SiorrrHEARING SPBC selves. The band would not go any further • but some
that where money PEIWERFUL TELBSCOPE—S, ERAND A--.PERSTPAECCTLIEV3E,
it had been laid down
GLA3SEA.—MeSBI'S. S. and B. Solomon:, in the procession said they would go on. O'ne man in
was considered, however pure the intention of the party,
it was simony, and that the bill, if passed, would prevent
lely. iseurrdeilajesty's Royal Letters Patentopftoirciavnals
melee-street, Piccadilly. Observe—opposite the York iota]. of office. He was the " tyler." Mary, wife of WM.
tua3b9l,e A labned- the procession carried a sword, but that was only a sign
hereafter the adoption of a general measure to extend
brilliant .r
Telescopes,inirovrents in the most powerful and Airley, said she walked with the Orangemen, and she
to other bishops. At this time there were two other 'I e identified M'Anally ae the man who assaulted Spence.
spective Glasses, to knaraowli, thßt;acecourse, Opera, and Per-
One was the
prelates in the Church whose cases were similar to those She also saw eleWilliams with a gun in his hand. When
under the consideration of the house.distances of objects viewed
posseeess tomit° army,
t y,
cravY;
through them—of great importance navy, the procession was stopped a man came from the gate,
Archbishop of York, who from paralysis was unable to and others. These telescopes
leave his mansion ; and the other was the Bishop powers that some three and a-half inches, witheanx raexotrraineayr• walk knee-deep in their Orange blood. William Brown,
and said if they did not turn back the Ribbonmen would
of Norwich, who had expressed his desire to panieee,thweilldosuhbow distinctly Jupiter's moons, Satnrn's rijag", a labouring man in the Orange procession, carried the
retire, feeling incapable of efficiently discharging d lecoustatrs ; with the same telescope can be first banner on which was an inscription " KieF,
seen a person's
and an object fromnl6entaon; are of larger anda.ll
his episcopal duties. From the Reformation downwards threeies miles and a half distant William, Derry, Antrim, Enniskillen, and Boyne.
&c.—The
thaei
sizes, with increasing powersm
ace.orrneeylyco;vewrhrnileortuhetihr vary.
(with the exception of the case of the non-juring
bishops) there had not been a case of resignation by a lug rem 4 to 6 inches enable us to die
above, and the Georgian, with his 6 satellites, number of men having scythes, sticks, guns, pistols,
This man stated that the procession was stopped by a
bishop of his episcopal duties or a seat in the House of
Exhibition, 1851.—Valuable, newly-invented, very small, and other weapons. Two men came forward with sticks
Peers. In the rein of George 111., when Bishop Sher-
lock was Bishop of London, the duties of the bishop powerful waistcoat-pocket glass,the size of a walnut, by which
a person can be seen and known 1 i miles distant ; they answer and said they had been sent to give the Oraagemen
warning that if they went on a foot further they should
were performed for seven years by Bishop Pierce,
Bishop of Rochester, without scandal to the Church,die. Witness remonstrated, and reminded them that
every purpose on the race-course, and at the opera houses, the Irishmen bad been allowed to proceed quietly on
country scenery, and ships are clearly seen at Bto 10 miles. St. Patrick's day. Rogers, who had a stick in his hand
and without inconvenience resulting Doubts there were
entertained as to the legality of a bishop resignino', and They are invaluable for shooting, deer-stalking, yachting, to with a spike at the end of it, said, "To hell with the
with wonderful the resignation of the Bishop of Rochester was approved eporteraen, gentlemen,
naand gpaemrsopkeeeetpievrse ,
land tourists. Opera, Church and state ; come on, boys." A general shouting
by the Ministers. The right hon. baronet then said there race-course, camp,
was no immediate necessity for the house adopting this eower. Newly-constructedr)Spectaclge Lenses of the great-
power. The valuable advantage derived and yelling was then set up, and witness was struck by
Metenally with a " Morgan Rattler" on his head ; he
'
measure, because the duties could' be done by deputyinvention is, that vision becoming impaired is was knocked down and lost his senses. When he.reco-
as was now the case. H© thought the bill as intro- from
this
d and strengthened, and very aged persons are vered Hannah fired a pistol towards him, and witness
duced into the House of Lords, to meet the late case of est transparent , ,
preserved
the Bishop of Bath and Wells, if it had been also enah e . d to employ their sight at the most minute °cell. felt on his head as if he was touched with a hot iron.
pawn-. can see with these lenses of a much less magnify. 1 Other witnesses were called to show that Donnelly fired
pegged, would have met the evil now complained of. in power—and they do not require
the frequent changes agunat
Mr. WALPOLE, in a lengthened and eloquent speech, to the dangerous effects
of further powerful assistance.
Organic Vibrator,
Handling were active in throwing stones. A man
i named
bundle
nOn en
teuni u Duffyint,,g u,
ns epl
(!) ow
dh
ears
aud absconded,sbet.
Theh d
supported the bill, which he said was in accordance with Deafness—New Discovery.—
the statute 2leth of Henry 111., which had been consi- traorainary powerful, small, newly
The
invented instrumentan ex-
r-
there to su ass an
law of the Church, deafness, entirely different tron.i all o / rP Y-1 of a " Morgan 'Rattler" was produced, having been
butt-end
dared and was now th© . . bably ever can be •
sited the hill It would be
Sir J. SHELLEY supp . • thing of, the kind that has been, or pro . .
the skin, is not per. !
. incised op after the disturbance.lt was composed of
dioceses Ile objected to
for the advantage of the • the prod colour as
uc,3d, Being of the same
e t'bi it deaf parsons to hear distinctly at church /
gutta percha with a piece of lead inside, and had formed
having to do duty for the Bishop of ep i e ; enablesperse
•nt sensation of singing part of a very formidable weapon. Three witnesses were
Bishop of Oxford i and at public assemblies ; the unpleasant
called to prove an alibi" M'Williams, and
in the case of
London. I noises in the ears is entirely removed' and it affords all the
•ed —39 Albemarle. ho was discharged, The committed for
trialthe others were
Mr. T. D CINCOMBE opposed the bill. This was a assistance that possibly could be desired.-33, • /
bill likely t bring the Church Sea the religion of the . street, riccediily, oblervo_oppoite the Yea #44. ,at assizes.

PARLIAMEIVTARY

Mr. MALINS (the chairman) presided, and congratu-
lated them on the success of the efforts of the association
to obtain a reduction on the proxy stamp duty. A depu-
tation bad waited on the Chancellor of the Exchequer,
who was so convinced of the necessity for the reduction
that he readily assented to it. The chairman proceeded
to detail the subjects which the committee thought Par-
liament ought to be memorialised upon for the security
of shareholders, the principal of Which were—the sepa-
ration of revenue from capital ; that the common seal of
a company should not be binding merely because the di-
rectors bad sanctioned the proceeding, but that the share-
holders generally should have a voice in the matter ; that
there should be an uniform system of accounts on all rail-
way companies ; that power should be given to reject a
director before his term of office expired, in the event of
his conduct not being satisfactory ; that a similar system
for managing railways to that existing in France should
be instituted by the appointment of three directors, who
should be paid well enough to devote all their atten-
tion to the affairs of the company ; that a majority of
three-fifths of the shareholders should have the power of
applying to Government for the audit of accounts, which
should take place before the bills were paid; that there
should be published rates and tariffs ; that no favour
should be extended to any particular company, as was
the case with the Northern and Eastern Coal Company
on the Eastern Counties Railway, but that all persons
without distinction should be at liberty to use any mil-
-1 way upon the same terms ; that three-fifths of the share-
holders should have power to reject any person who does
not give satisfaction, to prevent any official from refus-
ing to quit his appointment because he had been elected
for a fixed period ; that the legislative powers exercised
by the two houses of Parliament in relation to railway
property should be limited, and that a competent autho-
rity should be appointed to decide various questions in-
stead of leaving them to the decision of a committee of
four members of Parliament ; and that directors should
be made responsible for the proper management of the
affairs of the company. -Various other subjects were also
mentioned by the chairman as deserving of attention.
Major COURT thought a great deal of existing mis-
management was owing to the apathy of shareholders,
who already possessed power to make directors do their
duty.
Several speeches were made in favour of the sugges-
tions of the chairman ; and a resolution, approving of a
memorial to G..wernment, in which they should be em-
bodied, having been carried, the meeting separated.

MANCHESTER, SHEFFIELD, AND LINCOLN•

SHIRE.

Yesterday the half-yearly meeting was held at the
Palatine Hotel, Manchester ; Mr. Chapman presiding.
An abstract of the half-yearly report, and statement of
accounts, has 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 his absence from the meetings, and his en-
tireapproval of the measures adopted during the half-year.
The Chairman having commented on the improved posi-
tion and provects of the company moved the adoption
of the report, which was unanimously agreed to, as were
subsequent resolutions declaring the guaranteed divi-
dends on the various preference stocks of the company
(including the new 3.1 per cent. stock), and a dividend
at the rate of ss. per 1001. of original stock, for the half-
year ending 30th 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
amount of 2,370,000/ , and for the extinction of deben-
ture bonds now existing, the holders to be entitled to a
perpetual guaranteed 4 per cent. interest, secured by a
first charge upon the tolls, &c., of the company ; the
new stocic, is shares of 101., to be offered rateably to
the shareholders in the proportion of 101. for every 251.
of share capital ; and to be paid up in instalments of 10s.
to 1/. 155., from the 15th Dec: next to the let Jan.,
1361—the shares net so issued to be disposed of at the
discretion of the directors for the interest of the com-
pany. It was stated that the necessary act of Parlia-
ment was obtained some years ago.

HOUSE OF COMMONS.-JULY 23.

BISHOPS OF
LONDON
TEDAN DURHAM RETIRE-
Order read for resuming adjourned debate on Question,
" That the Bill be now read a second time :"—Question
again proposed :—Debate resumed : Amendment pro-
posed, to leave out the word " now," and at the end of
tho Question to add the words " upon this day three
months :"—Question put, "That the word ' now ' stand
part of the Question :"—The House divided ; Ayes 151,
Noes 72.

COLCHESTER, STOUR VALLEY, SUDBURY,
AND HALSTEAD.

The report of the directors of this company states that
the rent due on the Ist of July bad been paid by the
Eastern Counties Railway Company. The board con-
sider it is of the greatest importance to the interests of
the shareholders to call their special attention to the
position of the bond debt of this company, now amount-
ing to the sum of 34,6251., of which upwards of 30,000/.
will fall duo on the let of February, 1853. These bonds
are at present principally held by the parties to whom
they were originally issued, and most of them have been
twice renewed by such holders. At the half-yearly
meeting held in August, 1855, the shareholders autho-
rised the creation and issue of 9,000 guaranteed shares
of 51. each, for payment of the bond debt. It was anti-
cipated that by these means the company would have
been ab'.e to discharge the debt falling due on the let of
February last, but, although the directors issued the
shares at 5 per cent., the shareholders did not take them
up to any sufficient amount, and had it not been for the
kind consideration of the holders of the several bonds
then falling due in agreeing to renew them for two years
longer, the company would most probably have been
placed in a situation of great embarrassment. The board
have now ascertained that there is no probability of the
renewal of the great bulk of such bonds falling due on
the lst of February, 1853.
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 Ist of February,
1853, would be insuffilent to liquidate the amount of the
bonds then falling due by a sum of about 25,0001. They
therefore put themeelves in communication with the
holder of upwards of 30,0001. of such bonds, and ascer-
tained that he is willing to agree that if the company
will bind themselves to apply their surplus income every
l.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
shareholders. They state that the effect of thus paying
off the bond-debt out of revenue will be an addition of
1 per cent, to the dividend on the ordinary shares. The
capital account shows that 281,7531. had been expended.
The revenue account shows that 4,4331. for the half-
year's rent had been received, and that 1,1631. would be
required to pay expenses and interest on loans and pre-
ference shares, leaving 3,2801. towards paying off the
bonds of the company.

BRISTOL, SOUTH WALES, AND SOUTH.
AMPTON UNION.
A new line of railway is projected under favourable
auspices, which is intended to effect a great saving of
distance between South Wales and Bristol and South-
ampton. The object is to unite Bristol with South
Wales, and to connect the railways on the English side
of the Bristol Channel with those on the Welsh side by
a floating steam bridge, crossing the channel at the
narrow point, called the new passage, near the mouth of
the Wye, and thus uniting the South -Wales at Port-
skewit station, about 30 miles from Glocester, with the
Great Western, Midland, and Bristol and Exeter Rail-
ways at Bristol by means of a short line of railway,
about eight miles, between Bristol and the south side of
the channel at the new passage. By this means a saving
in 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
GATESHEAD.