The Sun.
London, England, 1867-08-22 00:00:00

THE SUN, LONoON, THUIISDSY EVENING, AUGUST 22 1867.

ill-disposed to the paths of honesty. At the same
time that the leaders of the profession and those
on the judicial bench are unable to exercise any
moral authority owing to the notoriety of the fact
that same of them are guilty of the grossest cor-
ruption, the younger members see these judges
maintaining their places both on the bench and in
society, though known not only to take, but to
extort money for selling what they call " justice."
We may easily imagine the effect of such an
example. The New York Press does not hesitate
to write in the strongest terms in condemnation of
conduct of which they openly accuse the profession.
These are the words of the Nation :--" There are
many lawyers in practice in this city who habi-
tually plunder their clients, sometimes by retaining
the moneys collected by them, sometimes by selling
their clients' interests outright to the adverse party.
One of th 3 most reputable firms in the city not
long ago offered a bribe to a young lawyer opposed
to them, to allow judgment to go against his client
by default. The offer was refused ; but it would
never have been made by lawyers of so much re-
spectability if it had not been true, as they said,
that such offers had been accepted in other cases."
The Round Table, contends that the New York city
judges are on an average superior to those of other
parts of the country, maintaining that corruption
and worthlessness are seen more clearly in a metro-
polis where a thousand eyes are watching with a
concentrated gaze, than in other parts where no two
persons can be got together to look into such things.
The very reverse of this is the view taken by the
Nation, at least as regards the Bar, where mem-
bers are sheltered among the crowd by their ob-
scurity, while- in the villages and small towns
the character of the individual becomes known.
Although the Round Table does not dispute the
corruption, it contends that it is only part of
a general system, and suggests that the North
American Reviewer should next take in hand the
corruption of the daily press. Every one allows
that the Elective Judiciary is radically bad,
and that the first step in the path of reform
is to abolish the system so as to secure greater
independence. For the improvement of the Bar
more stringent examination of candidates is urged,
together with a rigid watchfulness over the conduct
of lawyers after their admission. The Nation says
that there is abundant material in the Bar even as
it now exists, for an organisation which should make
it a business to expose fraud and trickery, and secure
their punishment. The public are in fault for per-
mitting so impure a system to secure so great a hold.
Itissaid to be impossible to find ten lawyers, no mat-
ter how high their standing, with sufficient courage
or public spirit to have a judicial offender removed
from the bench. The North American Review
deserves much credit for so fearlessly exposing
wickedness in high places, and however painful such
an expose may be to a large body of honourable
members of a profession of which they ought to be
proud, the open discussion cannot fail to alarm the
guilty and strengthen the hands of those who wish
to purge both bench and bar of these impurities.--
Anglo-American Times.

RAILWAY INTELLIGENCE.

NORTH LONDON.

The half-yearly general meeting of this company
was held yesterday at the office, Euston-station—
Mr. J. Bancroft in the chair.

The report, an abstract of which has appeared in
The Sun, was taken as read.
The CIIAIR3IAN, in moving the adoption of the
report, said the receipts bad been very satisfactory ;
the dividend was not so large as sonic might have
expected, but, looking to the company being in a
transition state for about a year or a year and a
half, and considering other matters he need not re-
fer to, the dividend on the whole was, he thought,
a satisfactory one. The aggregate traffic was very
large, and the working expenses were not greater
in proportion than when wages were not so high or
materials so dear as they were at present. The
percentage of working expenses on the whole had
not increased. The number of passengers conveyed
over the line in the corresponding half of 1866 was
6,993,860, and for the past half year ending the
of 1,126,738 passengers, which he thought was a
30th of June last 8,120,598, showing au increase
wonderful increase. They had carried 300,000 tons
of merchandise, 412,000 tons of minerals, and
164,968 sheep and cattle. They had been renewing
the permanent way with steel rails. In the first half
of 1866 they ;had expended £2,000 on those re-
newals; in the second half, £3,500 ; and in the first
half of this year they had appropriated £2,500 to
the renewal of way. The balance brought into the
past half-year's account was £557, and after paying
everything they would carry over to the next ac-
count a balance of £l,lBB ; that showed they had
paid everything out of the net revenue of the half
year. They had also paid during the half year in-
terest on £135,000 of unproductive capital. The
net revenue had not only been burdened with in-
terest on that capital, but, beyond it, there was
upwards of £lOO,OOO expended on surplus lands,
making together about £240,000 of unproductive
capital upon which they were paying interest. They
had expended during the half year £19,475 for
additional rolling stock, and £52,976 on the City
Extension and widening, which was so much added
to the value of their property. The bill had re-
ceived the Royal assent for authorising a junction
of their line with the London, Tilbury, and Southend
Railway, He considered that it would enable them
to open a most important and undeveloped district.
The proposed junction curve would make them in-
dependent of the Great Eastern line, and give them
direct communication with the Tilbury line, over
which they had running powers. He believed that
arrangements with the Tilbury Company could not
fail to be mutually beneficial to both companies. It
was expected that the junction line would be com-
pleted early next year.

Mr. R. R. DEAN, a director, seconded the motion
for the adoption of the report.

A SHAREHOLDER thought it strange that they
could pay 6 per cent. dividends in 1865 and for the
first half of 1866, when they hal less traffic, the
gross receipts being £99,036 in the first half of
1865 and £118,780 in the second half; and £146,361
in the first half of 1866 ; but in the second half of
1866 the gross receipts were £151,711, and in the

past half year £157,152, and the dividend had been

reduced from 6 per cent. to 51 per cent. It wai
true that during that time the capital had increased
by £700,000, upon which they had to pay interest,

the total expenditure being £2,976,000.
The CHAIRMAN explained that every attention
had been paid by the directors and manager to the
interests of the company ; they had been deprived
of part of their goods traffic since the burning of the
Ilaydon-square goods station, but when the works
were completed the goods traffic would add to their
resources. lie thought there was not much to com-
plain of ; the directors obtained the stores from the
London and North Western Company on the best
terms, and everything was being done to develope the
resources and to increase the value of the property.
The report was unanimously adopted, and a divi-
dend of £2 ss. per cent. on the preference stock, and
of £2 15s. per cent. on the ordinary stock and
shares of the company for the past half year was
declared payable on the 28th inst.
The proceedings concluded with a vote of thanks
to the chairman and directors.

receipts £1,536,146, at June 30, as compared with
£4,517,725 on Dec. 31, 1866. The expenditure on
capital account amounted to £136,633 during the
past half-year, and the total capital expenditure
was £4,482,515, leaving a balance of £197,851 un-
issued out of the present available borrowing power
of £970,911, exclusive of £51,500 to become here-
after available. The average rate of interest on the
debentures outstanding at the end of the half-year
was £4 7s. 4d. per cent., as against £4 ss. 9d. per
cent. at December :11, 1866. The directors did not
contemplate any bill for next session involving new
works or fresh capital.

DI INAL C OURT -Aug. 21.