The Sun.
London, England, 1858-02-08 00:00:00

THE SUN, LONDON HONDAS EVENING, FEBRUARY 8, IS-58.

SPORTING NOTES.

LITERATURE.

LAW INTELLIGEIWE.—(This Day.)

SUELLS OF KNOWLEDGE.

ilfenzoirs of Be ranger. Written. by himself. 1

ROLLS COURT.
NEVINS V. B3ADLEY.

Taking into consideration the frequent alternations of
frost and rain, the different animals that have early
Spring engagements evince wonderful fitness. Nearly
every training establishment can show a clean bill of
health, and has everything in order to reopen the racing
campaign. Perhaps the Epsom horses will sweep off
many of the stakes contested during the next two
months, for their number is large and their condition
surprisingly forward. Lien Land, too, has not allowed
his team to be idle, and his dashing mode of training seems
to have had good effect. His horses have been out day
atter day, and frost or IMO w they have always done steady
exercise. With the speedy Englemere and the clever
Amelia, Ben is likely to be fortunate : he has, too,
several very useful platers, and with his "jumpers" he
seems likely to farm certain steeplechases. Little
Tom is now with him to complete his education
before taking honours at Liverpool. The reports
from the North are equally satisfactory. Industrious
Mr. Pickering, of Beverley, and others who have an
eye to early racing, have forced their work of pre-
paration, whilst the succession of sheeted regiments
which have been seen on the Berkshire Hills show that
trainers are no longer idle, and that the cosey comforts
of the winter's firz...side are at least interrupted. From
Newmarket the accounts are somewhat gloomy, for
there are comparatively few horses in the town,
and a large ;oommercial failure has recently caused
the inhabitants to suffer much pecuniary incon-
venience. Death, too, has laid low some of the principal
and most respected inhabitants ; he has touched old and
young, and there is really something very mournful in the
number of persons whom you may meet in the street at-
tired in deep mourning. I believe that there is scarcely a
family in the town that is not clai in all the trappings
and the suits of woe. As the spring returns the aspect
of Newmarket will become brighter and more cheering.
The signs of preparation for the season are variously
displayed. Every " open day" is use! for the purpose
of putting the young %Mc " through the mill," and
Flatman, Sly, and Ted Sharpe, booted and spurred, are
frequently seen galloping through the town, and the
news is rapidly spread by the " Man at the Corner"
that there is going to be another trial.

vol.

Hurst and Black-eV.

e
aftsmtntr
pointslaeoi nice
et
ootiptfhi
memoirs,
hand,:et
bayi u:sleelaadas
ens raa,
outline,tatrtchnreeaeaee, uiesry as
The memoirs of one so eminent in the literary
world--one who first raised the numble profession
of chamomile to the dignity of the poet—who has
l
]
nfaeaotsd:
are
ediaretnahnttaedei
showingui
called,r cypress,etwroscharacter
renoi Lacaraaarttsceptthiensynago:
had the honour of enduring persecution for his
a
thaiedootaevtn:lci ftyaheyiali ee ft
littleho exchanged
r
affording us any minu'e or satisfactory knowledge
of
written them.
by his N
o"wenr
pic-
ture rather of what he was than of what he did,
it is full of interest. The pictures of his early life
and its vicissitudes—of his steadfast refusal to com-
promise his independence by accepting the favours
offered to him by wealthy or powerful friends—of
his persistence in setting forth his opinions when
most dangerous to himself, so long as he deemed
it to the public advantage, all tend to prove the
elevation of his character, and the purity of his
patriotism. English readers will find something
to forgive in the few remarks that are introduced
about England, but it must ba remembered that
he belonged to the generation Chit naturally felt
embittered ; and Beranger himself, notwithstand-
ing his democracy, was not tco wise to be
dazzled by the glory of the first Empire. Many
of those who admire the ease and graoo of
Beranger's verses will be surprised to learn that
he composed them very slowly, "having never,"
he says, "composed more than fifteen or sixteen
songs ie. the year, some of them in a few hours,
but the greate-t number with deliberation and
care. But many years were far from being so
abuniant. The time of the'r composition was a
matter of caprice ; and I have known eight or
nine months to pass without the production of a
single verse, even at the time when I was most
diligent." Though disclaiming the praises lavished
on his genius, Beranger evidently felt the effect
of his songs on the people, and cnerished his
chosen path. " I was born in a greater or less
degree a poet, fitted to excel in a peculiar style,
and I did not at first perceive that that element
of poetry which was in me could find scope in
this species of composition, which was much less
studied than practised. Reflection at ]enght
taught me Its capabilities. Song, moreover,
opened up to me a path in which my
genius could develop itself at ease. I ecaped by
it from academical requirements, and I had at my
d'sposal the whole dicti. nary—of which, according
to La Harpe, four-fifths are excluded from our
poetry." Devoting himself to his favourite pur-
suit, and surrouuded by congenial spirits, the life
of Beranger, as drawn by himself, slisws a picture
of content and freedonr from care rarely accorded
to those who mingle in the literary and political
worlds. The simplicity of his tastes, and his habit
of saying "I am poor." among the wealthy, pre-
vented his limited income from being a source of
annoyance to him, and the strict economy he exer-
cised, left him the mesns of benefitting others. It
seemed as if he had started in life with the opinion
men usually form at its conclu-ion, of the futility of
a search for happiness, which he himself expresses
in his chanson of Le Bon heur, after pursuing the
chimera through both bern'.splier es—

The merits of this cause were disposed of by a judg-
ment of his Honour the Master of the Rolls last term,
and the only point in the cause remaining to be disposed
of by his Honour this morning, was the question of
costs in the cause. This was a suit between partners
for the dissolution of their partnership. His Honour
said that he had allowed the question of costs to stand
over in th© hope that the parties would enter into an
amicable arrangement and settle the costs themselves,
but as they had not done so, he would now dispose of
them. He had again read through the papers in the
cause, and he had nothing to add to the op:nion that he
formerly expressed at the hearing, and in delivering
judgment in the cause.
His Lordship dismissed the bill, with costs.
PEILLON V. BROOKING',

At the sitting of the Court this morning, his Honour
the Master of the Rolls took occasion to mention this

CaUSP.

His Honour said that he had reconsidered this case,
and he was of opinion that the agreement entered into
between the parties could be very well carried out prac-
tically, and that it should be so carried out. Tnere was
no objection to the agreement, so far as it related to
the arrears of interest. His Honour pa,sed the usual
decree for carrying into effect the agreement. Costs of
all parties to come out of the estate.

POLICE INIgiJJGENCE.— (This Day.)

MA RLBOROUGH-STREET.

ANOTHER WONDER.—A RIVAL TO FRIKELL I—Burnet
Acorn, a German tailor, who gave his address Little
Windmill—treet, was charged before Mr. Bingham with
endeavouring t obtain a sum of money from the cele-
brated Physician, Wiljalba Frikell, under threat of pro-
claiming to the world the secret of one or more of his
astonishing feats of legerdemain, if the same were not
paid him.
Mr. Henry Garrett, of Alfrel-place, Bedford-square,
a musician at the St. James's Theatre, said a letter,
which he now produced, had been left at the theatre
directed to Mr. Firkell, and was opened by the latter
in his presence and afterwards handed to him The
letter, which was haneled to the magistrate, was some
what lengthy, written in a rather familiar style, but in
broken English, headed " Dear sir," and to the effect
that the writer would really feel himself obliged
to enlighten the world on some of Mr. Frikell's
secrAsp which were equally known to the wrier, espe-
cially the bat trick, it he (Mr. Friker) did not imme-
diately pay him well for his silence on the subject.
Backing up this communication with his presence on
Saturday fur Mr. Fr ikea's decision, and hoping for the
largess he had sripu!ated for—the price for keep'ng sealed
his lips on the tricks which have astonished so many,
and leaving Mr. Frikell still without a public rival or
competitor—the defendant presented himself at the
theatre, when he found himself quickly in the hands of
a constable, and—presto ! the scene rapidly shifted into
the interior of the Vine-street Station-house, and thence
into the police-court on the present charge.
There was another witness, but from the particulars
of the charge as described, it was considered unnecessary
to take his evidence, as he was not atlo to give any
new feature to the case.

The first legitimate events of the year will be decided
at Lincoln on Thursday and Friday next, and under the
new managements mere satisfactory meeting than usual
will be celebrated. Besides, too, the races will be
regarded with more than ordinary interest, for they will
afford a slight criterion of the "form" of some of the
principal stables. The new scale of weights for the
Queen's Plate has been sanctioned by the master of the
horse, but it is questionable whether the alteration will
be advantageous• Heavy weights are sadly unpopular.
The New Turf Reform has not been thrown out.
After Laving been repeatedly sent up to the L._,rds for
reconsideration and revision, and, after having undergone
nearly as many alterations as Theseus' ship, it is about
to be adopted. I have used the word about advisedly,
for the new bill has not yet been officialy announced,
and doubtless some additional clauses may yet be intro-
duced into it before it becomes law.

With certain provisions of the bill I cannot agree.
The attempt to suppress p.p. betting will be as about
effectual as an effort to extinguish a fice with a water
n Caine
under the p•p•
tau
elnf
tp
t- of re,lme
.Betting chooseettnog c
et " play or pay," no rules
out
I not be carried on
without a mutual understanding and confidence
betsdencebewtiwtheena
bl layers and
ak er backers,ands
that e
dv 71
designation will be bound in honour to pay, though his
horse do not run, if at the time it can be shwa n that he
knew he was entering into a p.p engagement ; and the
ceinreitteee of the New Room at Newmarket and of Tat-
termall's will be oornp,lied, if t''ey .%i.to preserve that
gulariey aid cot:without which tuff specule-
tens cannot be carried on, to take ceguiz ince of every
dispute regpeet'ng bees that have been ma to play cr
pay, although they were not made on races that are p.p.
The new rules respecting p.p. beta are tno,t unjust to
bookmakere, aed, in fact, they will render bookmaking
impracticable. F..,r what purpose Lord Derby made his
motion to abolish p.p. betting on band cape prior to the
publication of the weights, I cannot conceive, and I can
hardly believe that shou d a person bat on the Cesare.
witch Stake?, for instance, prior to the publication of
the weights, that he will have either the elts:re or the
power to evade payment if his horse should not run.
To show how p rnicioue such a restrictive rule Is likely
to become, I will suggest a very probable case. Prior
to the publication of the weights for the Cesarewitch, A
takes of B 400 to 10 about a curtain animal. When the
weights are announced, that animal may be deemed
leniently handicapped, and is advanced to, perhaps, 10
to I. A lays C 200 to 20, and aferwarde some acsident
occurs, and the animal does net run, In that case A
would receive 201. from C, and poor busy B would be
done out of hie " tenner," having, in fact,
laid A 400 to 0. Seoul I such a case, and
many such an one will wise, be ever brought before
the onainittee at Tattersalt's, how, in justice and in
fair play, could they decide against B I And, even if
they did, would not every person regard A as soneeth:cg
worse than a mere defaulter, and as one wi.h whom it
would be desirable not to have any transactions I A
person who woull take advantage of the new rule?, in
the manner indicated above, would be scouted by every
individual on the turf, although be would be supported
by the "rules and orders" of the committee at Tatt,r-
Jodi's and of Newmarket. Such a man would never
obtain admittance to the Victoria Ciub.
That the rules have been revised with much care I
readily acknowledge, and I cordially appreciate the good
intentions and c3rnmendab.o a al of the gentlemen who
undertook so onerous and disagreeable a welq. They
doubtless expected that their lab Airs would receive some
adverse criticism, and are, perhaps, scarcely ann' yed at
being what the Admiral, who holds with so much tact
and atil,ty the helm of racing affairs, once uncourteoutly
I designated "popinjays for every scribbler." It is
as easy to stop p.
betting by legislating as to stem
a torrent by looking at it.

Mr. Bingham said the charge, as it stood, cool I not
be borne out against the defendant for endeavouring to
obtain money by threats, or perhaps even false pre-
tences. It• was possible he might know the means by
which the hat trick, or any other trick, might be per-
formed, but the difficulty was to do it ; if he coal, let
him do it, and set up for himself. He should think
the reputation Mr. Frikeil had obtained wc.uld make
him proof against such persons and their attacks,
and that he noel i afford to laugh at such
and treat them with the utmost contempt. His worship
—then telling the pseudo rival of Wij dba Frikeil to be
cautious how be annoyed by ►etters or otherwise the
complainant cr az,y other person, and if he repeated his
visits to the theatre with such motives he should, if
brought before him, certainly put him uuder recog-
nisances for future good behaviour—discharged him.
de:eLciant left the court apparently ♦ery much
chop-fallen at not meeting with a Inure profitable result
from the letter.

"Le vois to Bien, I.t-bas, la-bas.
L.-.-bas, la-has, dans cea nuago,
Ildas ! (lit l'nomme, onfin vietx et las.
C'est trap d•inutiles voyage:."
The translation is faithful and elegant, and the
appendix, with ti ,e le, ters it contains, is a valuable
addition. It is a w(.rk which will probably obtain
a large circula•ion It re, wh,re the French chanson-
nier is held in more esteem than more ambi•ionc
poets among his c -nntr:in n.

...
The acceptanceA for the Sprig atr.dicaps are n:ime-
tinily satisfactory. Those for tke Che-ter Cup show
how widely the ability and discrimination displayed by
Mr. Tophatti in affixing
the weigbts have been appre-
elated. I, too, have cause f,,r gratulation, f,r the vet),
horses which I selected as being worthy of notice have
accepted, anti of those, three are now the leading
favourites, whilst others in which I expressed ray want
of cot,fidet e,t have eitl:er receded several pints iints in the
b,ttting cr have been knocked out a!together. I have
extended my "notes" beyond their usual litnit,, and
must, therefore, postpone the remarks which, when I
tat down to write, I intended to make on the Handicap
and Derby horses,

A FRESII MAN.

February 8.

ACCEPTANCES for THE GRA)
Run Feb. 11. Di,

D STEEPLE CHASE, Lincoln.
.tance, tour Eni:eg.
Age lb
Findley a 9 9
ComA 6 9 8
Althorpa . a 9 8
by Mavnet a 9 7
A 9 7
W
etthorpe a 9 6
Shylock
Battle a 9 5
itiaktuaid
Evington Lass
(struck out on _ _

Age ,t lb
Weathercock a 11 7
Tom Gurney a 11, 0
Ing.unar a 10 10
01'D .g Tray a 10 6
Metis
Lilford
Maley ............ alO 1
Morgan Rattler a 10 0
The Fox ......•••••• 6 9 12
Kirvcourt
We,ton ....... a 9 12
Whaley
Sampson 9 9

the 61-;)--- --
a 9 10

LLOYD'S SIIIPPING,—(This Day.)

for, Calcutta.
LONDON, Feb. 8.-Wind this day at noon, E. ; light
. ed-Mithades, from
breQetrz
Arrived-Gaunt-
let, from Monte Video. Sailed-Sunbeam (ss), for Fer-
nanlo Po. cleary eb.siv6ne.d.a.t-sh!,:d
As. w
._
CaCll°allov.Es'SaFielebd-r"-AnalVelia Msr;a,
laNnsdT o fine
v N
W A : A Tit ,i-
FALMOUTH, Feb. G,-Wind .-,,re cveu- VY 00U Vine,
from Mauritius.
-Wind NT -um
BELFAST, Feb. G. -Wind -• •' .-Arrived--Phca-
nian, from New York; Femora ( ‘
vssi, from London, with
machinery slightly damaged.
PORTSMOUTH, Feb. 7.- W incl E. S. E. A rrived -
Petra, from Bilboa ; her Majesty's yacht Victoria and
Albert,, from Antwerp Lher Majesty's ships o:borne,
Curagoa, Lapwing, and Valorous, from Antwerp ; Parsee,
from London for bielbourne, an proceeded for Southamp-
ton. Sailed-Czsr, for Sydne d
y. N.S. „v,.. ;
sVon Laffett
Lohsen, Geelong ; Signal, Hong Kong ; Reserve, Jamaica;
Abeona, Havannah.
T. .
__
ll DOVER, Feb. S.-
Vv ina N.W.-Arrived-Her Ma-
-1 ' t '.; Fairy, from Antwerp.
Ma-
jesty'. Y Feb. 7.-Wind E.S.E. -Arrived
PLYMOUTH,-Thomas
Mansell, from ol
Cun o
na ; Celt (a,),
-"lie of Good Hope.
Sailcd-Brakel, for Ceyln. n
(BY ELECTRIC TELEGRAPH.)
PLYMOUTH, Monday Morning.
A letter received here from St. Ives states that tho St,
George steamer of London ;las put in with boiler burst,
master and engineer killed, sevens firemen injured.
SOUTHAMPTON, Monday Morning.

Wind) Havre ;• Tamar (s),
ou b
E.S.E.
(s)
A rAlexandriaivej Fe alliance
n 6
At rived, Feb. 7--L: Poole and Le Coq, from Cherbourg:
Pars3e, London ;
Ranger (s), Dublin.
1i—

DELAY OF THE REFORM BILL It is calculated that
there w.ll be enough—and more than enough—of p 03E•
lug matters which will not bear delay, to occupy Par-
liament till Easter—which. is unusually early this year
—when the Reform 8.11 will be introduced with a much
better chance of being considered as its importance
deservei than it could be in the very first days of a busy
nd excited session,—ObseiTer.

RAILWAY IN7ELLrGENOE.

GREAT WESTERN.

The directors of this company have just issued
their general statement of receip's and expenditure
to the 31stof Deo., 1857. Itsbows that 12,903,7711.
had been received on shares, including 1,341,979/.
on irredeemable 4 per cent. stock, 129,0001. on re-
deemable 4 per cent. stock, 1,780,4571. redeemable
4i per cent, stock. 1,013,9571. redeemable 5 percent
stock, and 400,4921. preference stock, which has
been issued for advances redeemable under special
agreement. The receipts on debentures cnd loans
amount to 10,622,283/. making the total receipts
lon capital account 23,526,0541. The total expen-
diture amounts to 23,253 027/., and consists of
10,873,795/, paid in respect of tie Great Western,
Oxford, Barks and Hants, Windsor,and other lines,
for locomotive stock, &c. ; 155,785/. paid in respect
of the Uxbridge and Henley branches ; 6,733,0171,
expended on the Birmingham, Dudley, and Wol-
verhampton lines ; 1,643,8741. on the Wilts, Som-
erset, and Weymouth lines ;44,831/. on the Didcot
Deviation, including engine house and- sidings ;
135,006/. on narrow-gunge rails from Oxford to Ba-
singstoke ; 30,7091. ou the Western Fork at Read-
ing ; 15, 229/. on bridges (in lieuof level crossings) ;
2,826/. on the Acton and West London Junction ;
2,054,8181. in subscriptions and disbursements for
the South Wales, South Devon, Glocester and
Dean Forest, Wilts, Somerset, and Weymouth,
Oxford, Worcester, and Wolverhampton, Cornwall,
Shrewsbury, and Chester, Shrewsbury and Bir-
mingham Railways, Amalgamation Act, Wycombe
line, Plymouth Great Western Dock 4, and North
Metropolitan, and 1,563,1341. under votes of the
proprietors for new rolling stock ; 836,853/. new
station at Paddington, 643,3611.-82,9191 for Bull's
Bridge and other stations ; making the total ex-
penditure as above 23,253,027/., leaving a balance
of 273,2071. The total expenditure on capital ac-
count during the half-year amounted to 137,6221.,
and during the preceding half-year 238,445/.
The revenue account for the half-year ending the
31st Dec. last on the Great Western lines shows that
847,4521. had been received, including 7,050/: rent
from Bristol and Birmingham Railway and divi-
dends on Cheltenham and Glocester trainroad,
14,7011. for use of plant, 3,3121. interest ou cash
balances of the revenue account, and 6,349/. rent
of Great Western hotel and other property. The
expenditure—which includes 18,589/. for Govern-
ment duty, 14,8851. rates and taxes, 3,500/. legal
and Parliamentary expmise,, and 1,500/. reserved
for doubtful debts—amounted to 339,264/., or
41.58 per:cent. of the receipts, leaving a balance for
the half-year of 508,1881. To this sum is added
10,0111. balance from preceding account, 3,483/.
balance of revenue fer he half year from Keunot
and Avon Canal, and 14,6341. dividends on shares
in the South Devon, South Wales, and Dean Forest
Railways ; total, 536,318/. From this sum is de-
deducted 183/. for additional w)rks ; 20,188/. gua-
rauteed annuities to Wilts, Somerset, and Wey-
mouth Railway, and Kennet and Avon Canal Pro-
prietors; 16,894/. renteharges for Glocester and
Dean Forest., Hereford, It ,ss, and Glec3star, and
Wycembeßailways, and for the Paddington estate;
9,533 g. loss on lease of South Wales Railway ;
2,000/, proportion of loss on Kennet and Avon
Canal to the nth of June, 1836 ; 232,750/. in-
terest on d bsntures and loam ; 1,3311. interest
en Berks and Hants shares ; 1671. interest on Hen-
ley Railway subscriptions; 104,304/. dividends on
Great Western preference shares ; and 16,310/. for
d-ficieccy during the half-year on Shrewsbury
lines ; making together 433,692/ , and leaving a
di,p,sable balance of 102,6251. Out of this sum the
directors recommend a divid.nd at the rate of 2 per
cent, per annum on 8,237,276/, which will absorb
82,3731., and leave a balance of 20,233/. for the
next account.

The tr,ffil receipts for the h..11-year ending the
RA le_ c Luber last on the SereTsbury lines
3meuuted to 128,642/., after deducting 0,8171. for
their proportion of expenditure in respect of traffi ;
evil. the Birkenhead line. The working and otucr
expenses aluoutited to 76,026 e, leaving a halaneeof
52,6161. towards the p ,yment of 19,903/. interest
on debetatere4, and 48,938/. dividends for the half-
year on the Shrewsbury prefenui,:e and guaranteed
shares, making toge her 08,950/ , and leaving a de-
ficiency of 16,3401., which is charged above in the
Great We,stern general revenue account. At the
corresponding period of 1856 the deficiency on the
Shrewsbury lines amounted to 14,8691.
On comparing the revenue receipts of the past
half-year on the Great Western lines with those of
the corresponding period of 1856, 847,452/ , againzt
795,3531, an increase is shown of 52,0 and in
the expeuses— 339,2541. against 309,3501. —of
29,914/., and in the ne'.. receipts of 22,1851. This
incre xse is no doubt less than might have been ex-
pected, and would probably have been more were it
not for the general depression of traffic on railways
in Great Britain during the latter part of 1 tst year,
which depression was estimated to affect those rail-
wit) s in the aggregate to the extent of 350,000/., 'he
givatar part of which weield probably have been
profit. The traffic on the Greet Western lines will
no doubt go on increasing. In the year 1842 it
amounted to 575,000/. ; in 1852 to 969,862/.,
and in 1857, to 1,616,401/. In 1852 the
working expenses amounted to 301,668/., and in
1857 to 638,5211., leaving a profit on the work-
ing in the former year of 608,1911., and in the
latter of 927,8841. It appears that the subject
of working expenses has occupied the attention
of the directors since the opening of the
whole-of the Great Wereenilines in Ju'y, 1857, at
which time those lines were breu;lit into full work-
ing order, and that considerable reductions in the
exp,mscs have bean made, but they could not be
brought fully into oper aion until about four
monls of the past half-year had expired, so that
the full extent of those reduct'ons will not be
known until the end of the current half-year. On
comparing the working expense's of :the past half-
year with those of the first half of 1857, 339,261/.
against 349,2571., a decrease in the expenses, is
shown of 10,0001., notwithstanding that the traffic
for the pest half•year amounted to 78,499/. more
than in the first half of 1857. It is expeAed that
the pi eseut reduced expenditure can be m untamed
unt 1 there is a considtraVe increase iu the traffic
over all the lines. It also appears that the whole
of the interest, preference and other charges be-
longing to the helf-ycar have been paid out of the
list half-year's myelin', aud wdl cAitinue to be so
charged every ha'f-year in future, in consequence
of the whole of the lines autherised, in Parliament
having been coaaph ted in July last. With the ca-
pital account nearly dead, all the preference and
other charges fully paid out of revenue, an increase
of traffic, and a reduction in working and other
expenses, must tend to increase the dividend on the
old stock.
Independently of traffic, there is a maet,r which
has bet n proposed and co c -irns every unguaranteed.
shareholder in the Great Western Company ; it is
the conversion of the mortgages and loans into a 4
per cent. debenture stock, for which the company
have parliamentary powers. If this could be ac-
complished it would not only save the principal
officers much time and anxiety, and the company
expense in meeting the leans, but add newly 11 per
cent. to the dividend, and consequently about 201.
-to the marker, value of the 100/. stock. The money
market is now more favourable for such an opera-
tion than it has been for years past, and it appears
to be the interest of the shareholders to give it all
the assistance in their power. Some years ago a
few of the large railway companies endeavoured to
convert their mortgages into a debenture stock at
3i per cent ,\ but the, public considered the
rate -too low, the intere-t of money rose
tom after, and remained high until lately, so as to
preclude the possibility of converting mortgages into
a debenture stock, even at 4 per cent. It seems
there is an objection to railway'debenture oak, not
on account of its security, but on account of the
delay and expense of transfer, as compared with
the transfer of Government stock, but it has been
suggested that the difficulty might be obviated by
means of an arrangement with the 3ank of rice
land, and a short Act of Parliament, if necessarEy.

NORTH-EASTERN.
The directors of this company propose to recom-
mend the proprietors at the Ensuing meeting to
declare a dividend-for the half-3 ()Aron the Berwick
stock at the rate of 5 per cent. per annum ; on the
York stock, of 4 per cent. per annum ; and on
the Leeds stock, at the rate of 21 per cent. per
annum.