The Sun.
London, England, 1867-01-11 00:00:00

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PRICE.... 4d.
STAMPED sd.

unable to kindle a lire. For three days they were
under hatches, and thirst not come on deck. Tel -
rible accounts are being req,iived from the Tyne.
On Wed nesdaythe D utch schooner Dolphin brought
nine of the bark Newcastle, of Newcastle, Captain
larrisou, into Eartlepool-bay, and they were landed
in a coble. The bark left the Tyne last week, coal
laden, bound for Alexandria, and during the gale
of Saturday night her cargo shifted. On Sunday
morning, as the vessel was unmanageable, she
struck with ter] force on the Hasborough
Sands, between Cromer and Yarmouth. From
the force with which she struck it was evident
she would speedily break up. The crew, therefore,
launched the long boat, and nine of them, named
Wm. Kemp, George Stewart, John Storey, Wm.
Crockett, John Robson, Edward Hartell, Alfred
Sinnebolt, John \Tardy, and John Forster, all be-
longing to Shields, got into it, together with John
Marshall, the mate. The captain, who also belongs
to North Shields, refused to leave the vessel, and his
son, a lad about 16 yeari, said he would remain with
his father. The boat, without either water or provi-
sions on hoard, had scarcely pulled away from the
side of the ship when the vessel parted, and the cap-
tain and his son were drowned. When the vessel
struck it was about half-past 6 o'clock, and the sea
was so boisterous that the crew in the longboat never
expected it would live in such a storm.. As it was
she filled twice with water, and several seas that
struck her carried away gill the cars except two,
which were comparatively useless in the midst of a
tempest, and the boat had to be allowed to drive
before the sea. All Sunday was passed without a
hope of rescue, and as night approached the craving
for water began to manifest itself among the poor
fellows, who were also suffering from wet and cold.
The mate, John Marshall, exhibited symptoms of
madness, and cried out piteously for water. He be-
gan to tear his hair, and fretted about his " canny
wife and bairns," and at last he jumped overboard.
He was, however, picked up, and the immersion had
the effect of calming ',him for a time, but on the
Monday he again manifested the same symptoms.
He sprang out of the boat a second time, and was
nearly lost, but he was again rescued. Another soli-
tary day of hunger and thirst, in the midst of a
heavy sea, and almost starved to death, was passed
by the boat's crew, and as night approached they
expected it would be their last. The mate became
worse, and it took all the exertions of his companions
to keep him in the boat. There being nothing on
board to fasten him down he overcame their strength,
and ina state of raving madness sprang out of the boat
again and was drowned. When daybreak of Tuesday
appeared the nine remaining of the crew were almost
prostrate, and it was with difficulty they could man-
age to keep the boat facing the sea. Their hands and
feet were all swollen with the cold, and the condition
they would be in from want of water and food for
imagined
than days and two nights may be better
than described. On Tuesday, at noon, they gave
up all hopes, but late in the afternoon of that day
the Duteh schooner Dolphin sighted them, and
eventually got them all safely on board. The New-
castle was a first-class ship, and was the property
of the Middle Dock Company.
CARNSORE, IRELAND, Jan. 8,

We have had two very bad wrecks here on the
west beach (states Mr. John Barrett, the officer of
Coastguard), and I regret to say that all on board
perished from one vessel, and that three others were
also lost from the other wreck. No lifeboat would
have been of the least service on the beach, as the
seas there were awful.

he could have understood it. The net earnings of the
company for the half-year to 30th June last were
only £58,902, and that money ought to have been
available to pay interest on the debentures, and
would have to be accounted for. He regretted that
Lord Redesdale should have thought fit to enter into
correspondence in the Times with respect to the pro-
posal of the directors to raise £1,500,000, making
them and other shareholders liable to pay £75,000
a-year. They did not wish to be made liable for
other people's debts, and whatever capital 'night be
requisite to complete the metropolitan extensions,
he thought they would be all willing to contribute
their share towards raising the money to place
their line in efficient working "condition, and to
pay the interest. If it amounted to £500,000
he hoped the interest of .4.:25,C00 a year would
be forthcoming. They could then wait the re-
sult of the proper woeking and development of their
line. Notwithstanding all the mismanagement and
something worse, if the line were efficiently worked,
and every one of the shareholders and bondholders
would put their shoulders to the wheel he believed
the Metropolitan Extensions parts of the undertak-
ing would soon get out of debt, and be able to
pay its way. The committee would have to inquire
into the rights of the shareholders, and to enforce
their claims against the contractors and others. He
greatly regretted that when in June, 1864, Mr.
Haggard had called their attention to the raising of
the £533,000 on debentures, and placing them be-
fore the B and C shareholders, that he and others
had not responded and taken active measures to op-
pose it. He himself had no plan to propose, but
Mr. Haggard and Mr. Hogarth had.
Mr. HAGGARD then read a statement, in which he
recommended the shareholders of all sections to act
together in improving the condition of the whole
undertaking, to endeavour to pay their debts, by
raising the money among themselves. They had a
property, notwithstanding what had been done, that
was worth saving, and he calculated that at the end
of three years they would have a net receipt of
£150,000 per annum to meet their liabilities.
Mr. SURGEY maintained that the Metropolitan
Extensions would become a valuable property if the
lines were properly worked and the traffic developed.
He stated that Mr. Fenton, the general manager of
the Metropolitan Railway, who had great experience
in the requirements of that traffic, was of opinion
that the traffic on their extensions could be conside-
rably increased if proper facilities were provided.
Mr. lIOGARTH then explained his plan for improv-
ing the position of the company. He proposed that,
in the first instance, the debenture holders should
agree to take 4 per cent. in cash and deferred divi-
dend warrants for the remainder until the traffic
could pay them. There was due for land and other
matters 1350,000, which he proposed should be
paid off partly by arrangements for sale of pro-
perty and by raising £250,000 on equipment bonds
of £lO each, at 7 per cent. per annum, redeemable
in five years at 10 per cent. premium. He then
showed, by the gradual development of the traffic,
that in three or four years there would be a surplus,
after paying all working and preference charges.

Mr. BILLINGS said there would be no diffinilty
with the debenture-holders if they could get their
interest regularly paid, and the mass of them would
renew the debentures for several years to come. If
the committee, when appointed, would only fix on
a rateable proportion for the various classes to sub-
scribe towards completing the line and placing it in
good working condition he believed they would get
the money requisite for developing the traffic and
getting out of debt.
Mr. HEATH remarked that out of the whole
capital of £5,789,150 £2,075,860 consisted of re-
bates and allowances, leaving the remainder to re-
present the actual property. lie thought it pos-
sible to make some of those who took the shares
pay up in full, and that was a matter the committee
should carefully consider. The next great duty
would be to protect the shareholders from future

legislation.
The CHAIRMAN proposed that Mr. George Chance,
Mr. Frederick T. llaggard, ➢lr. George Hogarth,
Nit% It. H. Isherwood, and Mr. 11. D. Warter be
elected a committee, with power to add to their
number, to represent the B and C shareholders, to
hold communications with the Board of Directors,
to watch over the interests of the B and C share-
holders especially in.' reference to Parliamentary
proceedings affecting them, to consider any claims
of those shareholders against the contractors and
others, and to take the necessary steps to enforce
them, and generally to protect the interests of the
shareholders, with power to employ professional and
other assistance necessary for that purpose ; also,
that Is. per cent. be paid forthwith, to provide
for present expenditure.
Mr. ARBER seconded the motion.

It was proposed as an amendment that two com-
mittees be appointed—one to represent the B share-
holders, and the other to represent the C share-
holders.

The CHAIRMAN said he held £20,000 in the B
shares, and £20,000 in the C shares, and thoughtit
much better to have only one committee.
The amendment was negatived, and the original
motion was carried unanimously, and the proceed-
ings concluded with a vote of thanks to the chair-
man.

LORD MACAULAY ON REFORM DEMONSTRATIONS.
—The Scotsman publishes a letter by Lord Macaulay, dated
February, 1816. It was addressed to ono of his constituents
in Edinburgh, in reply to a letter referring to some remarks
made by Mr. Macaulay in Parliament. The petition refer-
red to in the letter was the monster Chartist petition
boasting of 3,000,000 signatures, presented by Mr. Bun-
combe in July, 1842. Macaulay says :—" You do not at al 1
shake my opinion—indeed, you confirm it. You tell mo
that most of those who put their names to the petition
presented by Mr. Buncombe did not know what it con-
tained. Now, I need not remind you that this was no com-
mon petition. It was described as the national petition, as
the manifesto of the unrepresented millions. It was carried
to Westminster with extraordinary pomp. The procession
of banners and devices stretched more than a mile. A very
unusual motion was made on that occasion in the House
of Commons. It was proposed that the petitioners
should be heard by their deputies at our bar. I think
therefore that this was a document of very great im-
portance—a document which no man ought to have sub-
scribed without understanding its purport. You assure
me, however, that the hundreds of thousands who signed
this solemn confession of political faith had never
looked at it. It was so long, you say, that they could not
road it. Why, ten minutes would have sufficed for the
purpose. But ten minutes, it seem; would have been
more than these people, who wanted us to put the
whole Government into their hands, could spare for the
consideration of a matter so grave. Rather than take the
trouble of informing themselves, they sot their hands to
any atrocious absurdity that was put before them by a de-
magogue in whom they reposed an unmerited confidence.
Observe, it is you, not I, who say all this. I give full credit
to your statement. But what is the inference ? Is it not
this, that many, very many, of our industrious, well-mean-
ing fellow-countrymen aro not at present qualified to ex-
ercise political functions with advantage to themselves and
to the community. And observe that it is for this very class
thatNiwilelo. el the
setaCbhl
governmenteisdt,s
such
ufeh claim,ths itoattsa. shareFor,
if of
universal
power, but the
suffrage
persons as those who signed the
national petition without knowing what it was, would form
the majority of every constituent body, and would return,
not 10 members of Parliament, or 100, hut all the 65G ±
Can a man of sense like you doubt on what candidates the
choice of such electors would fall ? Can you doubt that
they would give their votes, as they gave their signatures,
iu blind reliance on worthless leaders? You say that our

present legislators have committed errors. No doubt all
Governments err, for all Governments are composed of

men ; and you can no more make perfect Governments out
of such imperfect materials than you can make a marble
palace out of bricks. But between the errors into which
our Parliaments have too often fallen and the errors of the
Chartists, there is, in my opinion, a great distinction. The
errors of our Parliaments, however great, have not been
such as to kill the very root of national prosperity. On the
contrary, you would, I apprehend, admit that there is a
general tendency towards improvement; that civilisation
advances; that science makes constant progress; that many
abuses which were in full force within our own:memory
have disappeared, or aro fast disappearing; that, in short,
most of the changes which aro made are changes for the
better. 1, therefore, though I do not think our present sys-
tem perfect, look on it with hope and complacency. But
the Chartist system, as sot forth in the national petition,
would, I am certain, in no long time, reduce us to a depth
of misery and degradation of which it is not easy to form
an idea. It would make Great Britain, in three genera-
tions, as barbarous an island as Madagascar. The only
chance of escape would be that some Cromwell or Napo-
poleon might be able to establish a vigorcus, orderly, mili-
tary despotism.