The Sun.
London, England, 1858-02-18 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.
The Liverpool Cotten Market yesterday closed
steadily and values of all descriptions were fully id.
per lb. dearer. The sales were estimated at 7,000
bales, 1,000 of which were taken by the exporters
and 500 by the speculators. In the Railway Share
Market there was no particular change and prices
Were steady.
The amount of gold taken into the Bank yester-
day was 32,0001., and duriog the week, since the
date of the last published return, it is estimated
that at least half a million sterling has been added
to the bullion. Besides the influx of Australian,
American and Brazilian gold, a largo number of
sovereigns have been received, and the balance-
sheet which will be issued to-morrow is consequently
expected to show some favourable features, espe-
cially as there is reason to believe that a furth-r
important declension has taken place in the other
securities. Old engagements arc being discharged
and the fresh applications for discount at the pre-
sent minimum are naturally very small, when bills
of good quality can be negotiated elsewhere or
Per cent. cheaper. In some quarters it is thought
that there is rather more enquiry for money, but
business in every department is too depressed to
admit of much alteration in this respect at present.
A meeting of the Atlantic Telegraph Company
was held to-day, when a resolution was passed for
the raising of 75,0001. additional capital for com-
pleting the undertaking. The chairman, Samuel
Gurney, Esq., M.P., stated that the fresh attempt
Would, no doubt, be successful from mid-ocean,
and to show that this opinion prevailed, a sum of
24,4001. towards the new capital had been already
subscribed. The report of the company was pub-
lished a considerable time ago, and was now
adopted.
The report of the Oriental Inland Steam Com-
pany, held to-day, states that twelve vessels for the
rivers were expected to be shipped for India in
April next, and that the East India Directors had
consented to raise the subvention to the company to
10,0001. a year, instead of 5,0001., as agreed to
before.

The meeting of the Eastern Counties Railway
Corripany to-day passed off satisfactorily, the divi-
dend being at the rate of 3/. ss. per cent. per an-
num ; and after an explanation from the chairman,
the report was adopted.
- The principal feature on the Stock Exchange to-
* has been an advance of no less than 20 to 30
Par cent. in Canada Land Shares. This important
movement is caused by the announcement that the
seat of the Canadian government has been removed
to Ottawa, where the company have an extensive
estate. The shares, which are scarce and in great
demand, are now quoted 160 to 170.
The Directors of the Bauk of England, at their
fleeting to-day, agreed upon making no change
in the minimum rate of discount.
Little fluctuation has taken place in the English
Stock Market to-day, but its tone has been rather
heavy, and business continues very dull. The
speculators are by no means satisfied with the
Alien Bill, and are not disposed to extend their
engagements for a rise ; and, at the same time,
the demand for stock for investment is limited.
Consols have been 97f I both for money and
account. The New Three per Cents. are 971 ;
lied the Reduced, 97f Exchequer Bills are
.19. to 2s. lower, viz., 355. to 395. prem. ; the
Bonds are 100 f ; and India ditto, 275. to 30s.
pre ln• Bank Stock is 226 to 227 ; and India
'ditto, 221 to 222.
In the Foreign Stock Market a moderate busi-
beu has been transacted, and prices exhibit a
.downward tendency. Turkish 6 per Cents. are
-1011 to 1021 ; ditto 4 per Cents., 1044 ; Spanish
3 Per Cents., 44i ; ditto Deferred, 26a ; Russian 5
irr Cents., 111 k ; ditto 4A per Cents. 99i ; Sar-
nuliau 5 per Cants , 914 92 ; Buenos Ayres 6 per
821 ; ditto D ferted, 194 20 ; Grenada
aew Active, 20a ; ditto Deterred, 61 ; Mexican
- 8,13," Cents., 201 ; Peruvian 4i per Cents., 82
Venezneta .:Defetred, 14 ; Dutch 21 per
°OWL, 66 ; and Peruvian Dollar Muria, 57k.
The following are the nominal prices of Foreign
.Stocks:—Grenada Deferred Bonds, —; Mexican,
-204 201 ; Peruvian 41 per Cents., 82 83 ; ditto 3
Per cents., 56i 57i ; Portuguese 3 per Cents., 45}
; Russian 5 per Cents., 111 113 ; ditto 4i per
.Cents,, 99 101; Spanish 3 per Cents., 44i 45 ;
Ditto New Deferred, 26k I.
The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1858. 1857.
Great Western
North-Western
• Bonth-Western
Brighton 0,873 9,899
ktdland
South-Eastern
,91'eat Northern
.„'"l4icashire and Yorkshire .. 19,934 21,754
16 tia t o 1 and Exeter 4,972 4,836
Manchester, Sheffield, & Lincoln 8,687 8,702
Isiorth•Eastern
Oxford, Worcester, and Wolverh 3,794 3,811
Belfast and Ballymena
kclinburgh and Glasgow
Glasgow and Sou h-Western
Great North of Scotland
Scqttish North-Eastern 3,470 3,270
Grand Trunk of Canada
Great Western of Canada
Great Luxembourg . 9Ol 802
Business in the Railway Share Market this
turning has been rather dull, and in several of the
leading lines a decline of about i to i per cent.
blay be noticed. Great Northerns, North-Westerns,
and North-Eastern (Berwick), declined ss. ; Mid-
lands, lOs. ; and South-Westerns, 15s. In the
Foreign and Colonial lines the transactions were
unimportant. Grand Truck of Canada declined
I.os. ; Great Western of Canada, 10s. ; and East
Indian, 10s.
Mining Shares are quiet, at about previous quo-
tations.

For Joint Stock Bank and Miscellaneous Shares
there was a very limited inquiry. Oriental Bank
receded 10s. ; and Uniou of London, ss.
In the Miscellaneous Market there is littlo varia-
tion to report, except in. Canada Land Share;
Which have materially improved.

BRITISH FUNDS.—CLOSING PaICES—THIS DAY.
(From the Officsal Ltd.?

Bank Stock
~
,„ 2266 6 7
9
S vex Cent. Reduced Annuitleh
Super Dent. Consols AneMtlr.b 97 4
New i per Cent. Annuities — 97•iiii
Long Annuities, expire Ai Jan. 1860 2 1-16
India Stock
• Lelia Bonds, J.-:lo:io
ditto, under 21004 29
Oolsols far Account
Exchequer Bills, 2itct.
£lOOO. ....... 39 4 7 3 p
' e5O038 5 p
Small 35 p
~ .
Exchequer Bonds, 1658, 34 per Cent._
Ditto, 1859
PRICES OF FOREIGN FUNDS—THIS DAY.
Buenos A yres Bonds, 6 per Cent. B2)
• Ditto Deferred, 3 per Cent
C Kilian Bonds, 6 per Cent
Urenads Now Active, 21 per Cent.
Ditto Deferred., ............ -.
..
4
Mexican 3 per Cent ........................ 6
...
Ditto Account ..............
lleravian Bonds, 46 per Cent
Ditto Account ....
Ditto 3 per Cent
• Ditto Account 57 6a
P"uguese Bonds, 5 per Cent., Con. 1841
• Ibitto 180, 3 per Cent
, Ditto aocount (February 26) 463 6
4, flan Bonds, 1822, t: St., 5 per Cent lll4 112
141.1itto, 4i per Cent. 92/ 1 103
~41,1au Bouts, 5 per Cent.
Dila Bonds, 3 per Cent.
10itic)
,&, ~
t,_ count,
2 Dit:'°, New Deferred, 3 per Con'.
&wed.— Passive 6
arki‘h Per Cent.
T 4 482 3
. 1021
Ditto '"de, 6 Pcr cent... - ..
102 6 4 2 6
Ditio
Guaranteed,
bitto t*uaranteed, .tt per Cent. •.•
y , Accoun 4.
,nezuel, 4
Ditto Ac Bonds, 4/ per Cent
Ditto lieefeTn.retd 2 3l
per Cent
As._, . Dividends on the above payable in London.
1,17...7a1l Bonds, 10 Guil. 5 'Der Cent, £ sli
ps 4 EIC • 1,,,,. ,11, •
"4'7411 3)011;X' ''
'
-,tulaers 66
Bonds, 43 per Cent. 576 7
. Console, money . ltittEE O'CLOCK.
Console account ( .„.
........... 4)
974
..........--.....--_...--._
• CRy B
F eb• 17 TAL PALACE.-ONE LU S .
.A.d . . LLING- DAY, Wednesday,
aeasou tickets, m2Bl;3l;outostarvi,,iptajun:l,
0t,03.715 ; ditto by

THE ROYAL BRITISH BANK (This Day).

COURT OF QUEEN'S BENCH, GUILDHALL.
(Sitting at Nisi Prins, before Lord Campbell and a
Special Jury.)
THE QUEEN V. BROWN AND OTHERS.
FIFTH DAY

The trial of the information against the directors and
manager of the Royal British Bank for conspiring by
false pretences to defraud the shareholders and crts•
tomers and the public, was this day resumed.
The same counsel appeared as before.
Mr. Kennedy, on the part of Mr. Brown, asked his
lordship to strike off his notes the statement of Cameron
to Paddison, relative to Brown's falsehood in reference
to the freight of the Hornet. The statement was made
in Brown's absence, and could not be received in evi-
dence against him.
Sir F. Thesiger said he wished his lordship to strike
out of his notes everything that was not strictly legal
that might have got there by accident, owing to the
complicated nature of the case.
The evidence was accordingly expunged.
Sir F. Thesiger said that he had been in communica-
tion with the other t ilo relative to the remunera-
tien to ,be give❑ to the jury for their attendance on
this trial, and they were desirous his lordship at the
close of the case should decide what the jury ought to
receive.
• Sir F. Silly said he entirely concurred in the applies
tion of Sir F Thesiger, and hoped his lordship would
undertake the duty.
Lord Campbell said ho was glad some arrangement
of this sort had been made. It was most unjust to call
on gentlemen whose time was so valuable to them to
attend on a trial of this magnitude for the public benefit.
The law had made no such provision for a case of this
kind, and be would willingly take upon himself the task
at the ele.e of the case, which he hoped would some time
arrive,—(laughter)—of stating what remuneration he
thought ought to he given to the jury.
Mr. Anderson was recalled. He produced 10 bills of
Oliver's. In October, 1855, be handed the bills to Mr.
Crawford to take to Liverpool. The bills amounted
to 23,0001. On Mr. CrawErd's return, the bills were
missed ; witness was called before the board to explain
the loss ; afterwards the bilis were found, and on the
18th December he went before a court meeting attended
by the Governor, Deputy-Governor, Mr. Stapleton, Mr.
M'Cloud, Mr. L. M. Valiant, and the general manager,
when the latter reported the bills bad been found and
how they were found ; he produced the bills and Oliver's
discount piss book a, that time.
By Sir F. Kelly—The bills became due between the
7th November, 1854, and 24th April, 1855. Some pay-
ments were made on account in 1855 and 185 G.

By Mr. James—Oliver was considered at one time
one of the largest shipowners in the kingdom ; he failed
for upwards of a million of money.
Mr. Crawford deposed that he went to Liverpool with
the bills in October, 1855, and received a composition of
2s. 6d. in the pound at the Bankruptcy Court there on
24,0101. 194. 11d. On his return he gave the bills
stamped with the composition to Mr. Cameron, and he
told him at the same time that he calculated a further
dividend would be received of 2e. or 2e. 63. in the
ported.
By Mr. James—Oliver's debt at the time of the
failure of the bank was 13,0001., having been reduced
by payments ; another dividend of 23. in the pound had
been paid.by the estate since the stoppage of the Royal
British Bank. In a deed of transfer to creditors
Mr. Oiiver's ships were valued at 688,7501.
By Mr. Seymour—Mr. Cameron led him to believe
that Mr. Walton, the governor, was virtually respon-
sible, to a certain extent, ,n Oliver's deht. He could
not say if it was to the enteut of 13,0001., the dis-
counts were always obtained through Mr. ‘Valton, and
his account was opened by him.
Several deeds were put in relative to Oliver's
security, and evidence was taken with reference to
the dividends that had been received under the estates
of persons involved in there transactions.
Mr. Paddison recalled—Messrs. Owen, Esdad?, and
Richie were appointed in 1850 as the past duo bids
cornmi-tee, In 1855 Messrs. Esdaile, M'Cioud, and
Valiant formed the committee.

Mr Andersen was recalled, and, in answer to a ques-
tion from Sir F. Kelly, said Oliver's t:alance-sheet in
June, 1856, was 17,0001. It was reduced from that
time to the failure of toe bank. It was the opinion of
Cameron that, under all circumstances, the amount
would be liquidated. After giving credit for all that
bad been paid, the balance in Ntovember, 1855, was
14.6001 against Oliver.
Mr. Padduson said be understood Mr. Walton was
virtually responsible for Oliver's debt, though his name
was not on the bills.

The prosecuti'n then passed to Mr. John M'Gregor's
account.

Mr. Atherton put in a letter from the late Mr. John
M.'Gregor, dated 24th Feb , 1850, from Hyde Park. It
apes addressed to Mr. Cameron, and stated that, as his
(Mr. M`Gtegor's) time wee much occupied by his atten-
deuce in Parliament, and the discharge of other duties,
he wished t guard against pecuniary inconvenience
‘iuring the session of Parliament, Messrs. Drummond
had hitherto assisted him, ut he was now differently
situated, and could not go to them nor his brother-in-
law, without its looking suspicious with reference to
the Royal British Beek. He required 5001. or 6001. in
addition to his wife's income to carry him over to the
end of the session. He could offer no other security
except his promissory note and a policy for 1,000/, It
would be hard if a director of the bank were placed
in a worse pocitiun than their ordinary customers,
and he had made the application by letter rather than
it should be considered-by the court in his presence.
Mr. Paddison was called, and said on the following day
a court was held, when the committee, comprising
Messer. Esdaile, Gwynne, Owen, Hurst, and the general
manager granted an advance of 1,0001. In 1851 a sum
of 2,0001. was advanced to Mr. J. Macgregor. That
gentleman gave the bank in security shares in a great
number of companies, some Bank stock, and policies of
insurance. The securities realised only 1,800/, ; 8001.
for the Bank stock, and 1,000/. policy. Amongst the
securities were shares and scrip in the Eastern Archi-
pelago Company, Irish Beet-root Sugar Company, Irish
Peat Company, Chartered Australian Land and
Gold Company, Royal Australian Bank and Gold
Importing Company, and the Strand Bridge.
In Februry, 1854, Mr. Macgregor retired from the
directory. His debt due to the bankat the end of June,
1855, amounted to between 6,0001. and 7,0001. Mr.
Macgregor's securities were kept sealed up till after that
time, when they were handed over by Mr. Cameron
to witness, who retained them till the failure of the
bank. The witness was examined at considerable length
relative to the court meetings, silec., in reference to the
debt, and who were present at the time. Letters were
read from Mr. Macgregor to the bank, which showed
his straightened circurnetancee at the time.
By Mr. James—Mr. Macgregor was a man of good
repute at; the time. He bad been a secretary to the
Board of Trade at 2,000/. a-year, and was a member
of parliament. These ciicuelatauces gave a prestige
to Mr. Macgregor, who was supposed to be a highly
re.pectahle, most honourable, and reasonably respon-
sible roan. He (Mr. Paddison) never entertained
any doubts as to his responsibility for the advances
made to him by the bank. It was discovered after
Mr. Mullens' death, that advances had been eurrep-
titiou-ly obtained by Mr. Macgregor, by the former
initialling his bills for payment, without the knowledge
of the Directors. Mr. Esdaile frequently complained
of this, and was exceedingly angry about it when it
was discovers 1 after Mr. Muller's' death. Advances
were thus made to the extent of several thousands in
the whole. Mr: Mullens had the entire confidence of
the bank ; be bad been exonerated from any corn
plicity in Mullens' conduct. A resolution was after-
wards agreed to by the directors to- prevent the repe-
tition of similar conduct.

By Mr. Atherton—Towards the close of the career
of the bank it was discovered that Mr. Macgregor
was living partly by literary labour, and partly by
his connection with the company. His personal
liability was then spoken of as not being hopeful,
Mr. Anderson stared that Mr. M'Greg,r's ac(!ounf at
the end of .Tine, 1855, am muted t 7,734/.119. lid.,
December, 1855, to 7,9481. 10s. 101., and January,
1856, to 7,8621, 16e., the increase arose from accumula-
tion of interest.

Tt.e Court next proceeded with the advances to Mr.
Cochrane.

Mr. H. T. Cameron said he was formerly clerk in the
back. Mr. Eidaile, the governor, gave him directions
in 1850 rhat Mr. C ehrane might ovtr,raw his account
to tile extent of 5,5001., making, in the whole, 10,5001.,
and he made an cntiy to that effect, in pencil, in the
" green ledger," on the page containing Mr. Cochrane's
account.

Mr. Crawford deposed that on 30th January, 1855,
Mr. Cochrane's account was 11,4001. 15s. ld., and on
24th December, 1855, it was 9,5031. 33. sd.
Mr. Paddison deposed that Mr. Cochrane was a
timber merchant, but he knew nothing of his means.
Mr. Anderson reor.'icci—Mr. Cochrane had a large
.7,-count with tee Royal British Bank. His were first-
cla3s bills. Sometimes they extended to 20,0001, and
were paid. Mr. Cochrane had a discount account at
the Bank of England.
The next case ent red on was that of Mr. Rowland
Hill Blacker, ielkman, Ludgate-hill.
Mr. Paddison said that on 10th April, 1855, Mr.
Blacker applied for an extended discount account of
4,0001., for which he gave the Guarantee Society
in security for 12,0001. The application was
granted, and in the August following he ad-
dressed another letter to the bank for a further
increase of 1,0001., making in all 5,0001. which was
granted. On Dec. 8, 1856, Mr. Cameron informed the
directors present at the court that, from an interview be
had had wih Mrs. Blacker, her husband having gone off,
that there was reason to apprehend that his dishonoured
hills would not be paid, and that they were fictitious.
3,0001. or 4,0001. bills were then due. In the minute
book tiara was an entry In reference to this
of " Criminal proceedings " in Esdaile's hand.
writing, but it was afterwards struck out.
Witness afterwards found the guarantee given was not
available for the bills then becoming due, and in Dec.,
1855, Blacker became bankrupt. At a subsequent,
meeting Mr. Cameron stated he had heard that Blacker
a-as abroad, but it was expected he would recover some
money Iron, a Florentine bank. There were also some-
statements relative to Forrester, who bad been employed.
in reference to this affair. The guarantee p licy was:
taken without witness's knowledge. Blacker also gave the.
lease of his premises, which was afterwards valued at 300/.1
Forrester was paid 181. 18s. on account of expenses'
incurred by him in reference to Blacker's affairs.
Mr. Crawford, who was re-called, stated that up ti
Dec , 1855, Blacker's acceptances had been ia gularly
met, and it was a good account. It was then discover ed.
the bills in the bank were fictitious. The bank he 14

in Dec., 1855, 92 fictitious bills of Blacker, amounting
to 4,2051. 1,1461. 13s. were then past due, and the
remainder were running.
Mr. James—And the acceptors were running, too.
(Laughter.)
Witness—There was a loss on the cash account.
Blacker's account, which was a good one, had extended
over between 30,006/. and 40,0001. Blacker's account
was a very good one, and when the discovery was made
of the nature of the bills it came so suddenly upon them
that they could not realise it.

Mr. James—And you never have realised—(laughter:
—muoh on the fictitious bills.
__ _

Sir F. Tlaesiger then proposed to enter on Mr. Came-
ron's debt, which would in all probability involve an
inquiry into Mr. Empon's debt also.
Mr. D. Seymour, on the part of Mr. H. J. Cameron,
asked that the account might not that day be entered
on. On Monday last the Court was kind enough to
direct that pariculars should be furnished to the de-
fendant, but they had only that minute been handed to
him

The Court declined to interfere, and the case proceeded.
After entering at some length into these debts,
The Court arljonrne,i shor iy before 5 o'clock.

LAW INTELLIGENCE.—(This Day.)

HOUSE OF LORDS.

(Present—The Lord Chancellor, Lord Brougham, and
other Pers.)

APPEAL-THO LONDON AND NORTH•WZSTBRN RAILWAY

COMPANY V. LINDSAY.

This important appeal cause was appointed for hearing
this morning.
The Lord Chancellor said that Lord Wensleydale
declined to t-it to hear this case, on the ground that
be was a shareholder of the London and North
Western Railway Company. The Lord Chancellor
entertained doubts of the propriety of his lordship's
declinature, as every Peer in this house was, or might
be somewhat interested in causes coming before it,
but not to the extent of disqualifying them to sit and
judge in the•case.
Counsel in the cause—The Attorney-General ; the
Lord Advocate ; Mr. Anderson, Q.C. ; and Mr. Rolt,
Q.C.

The Attorney-General opened the case for the
appellant.
The respondent, Mr. Lindsay, raised two actions
before the Court of Session in Scotland against the rail-
way company. The first was an action of damages for
refusing to carry his fruit. The second was an action
of solatiunt, for injury done to his feelings, by exhibiting
a notice in their office of their refusal to carry his fruit
Upon these actions be used arrestments in the
hands of the Caledonian Railway. Company
against the London and North Western Railway
Company, for the purpose of founding the juris-
diction of the Court of Session over the London and
North-Western Railway Company, an English com-
pany, jurisdictione fundandi causa, until the company
found caution de judicio sisti et judicatum ro!vi to answer
the judgments of the Court. The appellants ob-
jected to the competency of the action and re-
levancy of the arrestments'. That arrestments
jurisdictione fundandi causa are competent only
upon actions of debt and not upon unliquidated
actions of damages. Lord Neave's ordinary, by his
interlocutor, sustained the competency of the actions
and jurisdiction of the court over the railway company.
On 20th Nov., 1855, the Lords of the First Division of
the Court of Session affirmed the interlocutor of Lord
Neave's ordinary, with costs. From these interlocutors,
or judgments, the railway company appealed to the
House of Lords.

The Attorney-General argued that if these arrestments
were sustained, if any Englishmen left his hat or
umbrella in a hotel in Scotland it might be arrested in
the hands of the hotel keeper, and an action afterwards
brought against him, RIO in his absence and behind his
back a jisdgmert of the court might be obtained against
him which might be attended with *the most ruinous
consequences to him. It is probable that the hearing
of the case will occupy the whole of this day.
Toe next appeal ca,e on the paper cut down for
hearing is the appeal of Edmond v. Gordon, also a Scotch
appeal.

COURT OF BANKRUPTCY.
(Before Mr. ComcniAmoner lielroyd.)
IN RE BRITTEN.

This bankrupt was described as of Noble-street,
fringe manufacturer, and to-day was appointed for the
last examination meeting, which bad been. adjourned
that the assignees might have an opportunity of inves-
tigating the accounts which had been filed under the
private arrangement act but the case was ultimately
converted into a bankruptcy.
Mr. Bagley, on the part of the assignees, now said
that they had got through the bankrupt's books which
bad been kept wits great regularity, and they were
perfectly satisfied with the accounts.
The bankrupt now passed.
_ _ _

Mr. Puok, for the bankrupt, asked for an allowance
up to the present time all the delay had not occutred
through any negligence on his part.
The assignees did not object and the order was made.