The Sun.
London, England, 1867-01-24 00:00:00

THE SUN, LONDON, THURSDAY EVENING, JANUARY 24, 1867.

The Proposed Reform Demonstration.

Last night a meeting of delegates from Trades'
and Friendly Societies and the various branches of
the Reform League in the metropolis was held at
Radley's Hotel, Bridge-street, Blackfriars, to con-
sider the arrangements to be made for organising
the projected demonstration on the 11th proximo.
There were upwards of 200 delegates present, and
the chair was occupied by Mr. Beales. In opening
the proceedings,
The CHAIRMAN said that the steps taken on a
former occasion, when a deputation was appointed
by the delegates to confer with the executive of the
League, had been attended with very satisfactory
results in enabling them to make considerable pro-
gress towards carrying out their forthcoming de-
monstration. A plan had been prepared by which
the whole of London would be divided into the ten
postal districts, each district to be complete in its
organisation, but all to be under the control of the
Executive Committee. Organisers of districts and
sub-districts would be appointed, together with
marshals and sub-marshals, who would collect in
their several localities the different bodies intending
to take part in the demonstration, and conduct
them to the general rendezvous where the aggregate
procession would be formed. Having read the de-
tails of this plan as far as they had been settled, the
chairman explained that it was proposed not only to
have a procession, but also a great meeting in the
Agricultural Hall on the same day. And in order
that the working men might be put to as little
trouble as possible, and be enabled to do a good
half day's work before mustering, they would meet
at 1 o'clock in Trafalgar-square, and start from
thence at 2. A plan had been drawn up by Colonel
Dickson which might be considered in a measure
as a military one, by which from each of the four
cardinal points of the compass the different branch
processions would converge in Trafalgar-square,
at the hour he had named, and proceed by Pall-mall,
St. James's-street, Piccadilly, Regent-street, Ox-
ford-street, and thence to the Agricultural Hall.
Starting at 2 o'clock, it would be 5 or 6 before they
reached Islington, where the proceedings would
commence at 7. They would try to obtain the at-
tendance of Mr. Bright, though they could not
reckon upon it ; but certainly Mr. Ernest Jones,
and possibly the O'Donoghue would be present.
Twopence was the charge for admission to Beaufort
Grounds, but it would be 3d. to the Agricultural
Hall, which, considering that they would have
shelter from the inclemency of the weather, would
not perhaps be deemed excessive. (Hear, hear.)
The hall contained sitting accommodation for
18,000 persons, with standing room for many more
besides ; and with a small extra charge, say 6d. or
ls., for a few reserved seats, they expected fully to
cover the expense of hiring the building for what
would probably be one of the most important and
effective indoor meetings ever held. (Hear, hear.)
Some might be afraid, from the experience of the
last great gathering in the Agricultural Hall, that
the proceedings would take place in comparative
dumb show, but that would not be so, because
acoustical improvements had been made in the build-
ing since then, and if silence were only observed the
speakers could be heard all over the hall. It would
be seen, then, that they would not attempt to hold
any meeting in Hyde-park—(cheers)—and as he
was told that many of their friends were hesitating
as to how far they should support the proposed
demonstration until there was no doubt left to what
was their intention on that point, he thought it right
explicitly to state the determination they had come
to upon it, and the reasons on which it was based.
In the first place, the time of the year was not suit-
able for holding an out-of-door meeting for the de-
livery of speeches either in Hyde-park or anywhere
else. (Hear, hear.) Another, and a more import-
ant reason, was that there were legal and technical
difficulties as to the use of Hyde-park for
such a purpose. ➢lr. Beales then explained
at some length the result of the care-
ful investigation which he himself and certain other
lawyers had made into the matter, the substance of
it being that while, under the Household Acts, in
strict law the people had no legal title to the use of
the park, and would ineet with insuperable C.ifficul-
ties in bringing the question before any ordinary
tribunal, yet they were morally, or equitably, en-
titled to be protected by Parliament is the proper
and reasonable use and enjoyment of the park.
Therefore the only court, as it were, to which
they could appeal on that subject was Parliament—
that Parliament which had already shown its dispo-
sition to prefer the recreation and amusement of the

wealthier classes to the reasonable wishes of the

people ; for it was most reasonable that, in the ab-
sence of any other spot as central and convenient,
the people should have the use for a few hours for a
public meeting of a portion of a park maintained at
the public expense which was not required for aris-
tocratic equipages, equestrians, and individual

loungers. Considering how frequently the park was
used for reviews and other purposes agreeable to the
feelings of the higher orders, the exclusion of the
people from its reasonable use was most arbitrary
and capricious, and furnished a striking proof of the
class interest which prevailed in this country under
the mask of free institutions. (Hear, hear.) A re-
formed Parliament really representing the people
would probably take a very different view of that
question from the one taken by the present House
of Commons. (Cheers.) But, however arbitrary and
unreasonable might be their exclusion from the park,
he could not advise them to make any attempt to
force their way into it, at the risk of much bloodshed
and the convulsion of the whole metropolis. It was
not the wish of the League, in its assertion and vin-
dication of the rights of the masses, to infringe any
law, as far as that law could be ascertained, however
fairly its justice or propriety might be questioned.
Their cause was just, both constitutionally and ab-
stractedly, and they did not desire to advance it by
other than peaceful and righteous means; and it would
be the fault of an unwise, an unjust, and a violent
resistance on the part of others if they were at any
time or under any circumstances compelled to de-
viate from that line of conduct. (Cheers.) Attempts
had been made to dissuade them from carrying out
their intended demonstration, not only on the old
stupid ground of its being regarded in the light of a
menace or an affront to Parliament, instead of be-
ing merely an expression of the undoubted feelings
of the people, but because, forsooth, they were only
acting from pique at their failure on Dec. 3 last.
Why, they had determined upon holding a demon-
stration on the meeting of Parliament, although they
had not put out their plan, months before Dec. 3.
Besides, the demonstration on that day, and which,
instead of being a failure, was a great success as far
as it went, was not the demonstration of the Reform
L
League, though certainly that body gladly took part
in it. But the demonstration of Feb. 11 next would
be the League's demonstration, and he would tell
them why it was wanted. It was idle to say there
had been many demonstrations already. So there
had been ; but what was the result? The Govern-
ment still shrouded itself in secrecy, and refused to
say whether it was or was not prepared to consider
the wishes of the people. In addition to that, they
had false Liberals betraying themselves day by day,
while, on the other hand, he admitted that what had
already been done had brought over to their side
many who had hitherto been hesitating, but who, he
was glad to see, now declared themselves favour-
able to household suffrage and a large extension of
the lodger franchise. But others were falling away
from them, and they actually found one whom they
had heretofore regarded as a sincere reformer, Mr.
Neate, saying he meant to call on the Tory Home
Secretary to state how far lie was prepared to put
down these meetings. Why, that alone would in-
duce him, and he trusted that it would also induce
the Reform League, to have their demon-
stration, even if they had not determined
to have it before. (Cheers.) They must have no
mistake on that occasion ; they must let their false
friends and their open enemies alike know that
they were determined, though in a peaceable and
moral way, to obtain their just rights ; and he
trusted that on the 11th of next month there would
be a full and outspoken expression of the feelings of
the metropolis and the nation. (Loud cheers.)
Mr. BRADLAIIGH then moved a resolution ap-
proving the plan just sketched by the Fresident for
a demonstration in Trafalgar-square on the 11th

pros., followed by a meeting in the Agricultural-
hall the same evening. Trafalgar-square was as
near to the House of Commons as they could go
conveniently to everybody. (A laugh.) He did not
admit that the law was against the people's right to
meet in Hyde-park ; but considerations of personal
comfort, which at that inclement season must be
taken into account, rendered it expedient that they
should muster there on the 11th of February. He
believed, however, that the infatuation of the Tory
Government would make it necessary to hold still
another open-air demonstration in London after the
next one, and when the time for that came he would
submit the proposition to them that the people had
the right to meet in Hyde-park.
Mr. MANTEL, in seconding Mr. Bradlaugh's
motion, said he was determinedly opposed to meeting
in Hyde-park. The League stood pledged, through
its President, to leave the question as to Hyde-park
alone until it could be decided according to the laws
of the land. (Cheers.) _

Mr. CABLE thought a meeting ought to be called
for the same day inHyde-park, and proceeded, amid
strong and repeated expressions of dissent and cries
of " lime," to state the grounds of his opinion.
He moved an amendment in accordance with this
view, but it fell through from the want of aseconder.
Some confusion ensued, several delegates emphati-
cally protesting against the sheer waste of time in
re-arguing the Hyde-park question.
Mr. LUCRAYr then proposed, as an amendment,
that the meeting in the Agricultural-hall should be
held first, and that a procession should afterwards
be formed to escort the bearers of numerous separate
petitions there to be agreed upon, and signed, each
by 10 men, on their way to the House of Commons
at Trafalgar-square.
Mr. MANTEL asked the chairman whether such a
proceeding would be legal—a modification of one
previously suggested and abandoned.
The CHAIRMAN replied that it would not.
Some further confusion followed, owing to a de-
legate who came in late wishing to have the original
motion read over to him before being called upon to
vote upon it. Some speakers thought this ceremony
would have been unnecessary if the inquisitive de-
legate had hadenough zeal in the cause to bring him
there in time ; but, at last, as a matter of courtesy,
the President, after administering a reproof to him,
recommended that his wish should be complied with.
The delegate in question also attempted to address
the meeting, but he was listened to with impatience,
and had to terminate his remarks rather abruptly.
Mr. Lucraft's amendment having been duly
seconded, was then discussed at some length, but
the general opinion condemned it, because, among
other grounds, it appeared to be impracticable, and
also because the procession could not reach Trafal-
gar-square from Islington before dusk, when the
" rough" element might mingle with it, or hover
upon its flanks, in unmanageable proportion. It
was ultimately withdrawn, and the original motion
was carried unanimously amid loud cheers.
Some question wasraised as to whether Trafalgar-
square would be large enough for the entire proces-
sion to form in, but it was answered that the head
of it at least could be marshalled there, and the
rest could take up its position in the adjacent
thoroughfares.

After some further desultory conversation, a re-
solution was passed reserving the claim of the people
to the use of Hyde-park for political gatherings ;
and thanks having been voted to the chairman, the
proceedings terminated.

serious accident which occurred on the Thames be-

low Loudon-bridge, caused by the floating ice carry-
ing away the whole of the tiers of shipping moored
on the north bank of the river. It was more serious

than was at first supposed, several small vessels
having been sunk with their crews, who were either
crushed to death among the ice or drowned. The

fields of ice that had been accumulating within

the last few days were most formidable. For two
hours before and after high water they completely
covered the river, and to all appearance the whole
fleet of shipping from London-bridge to Greenwich
seemed fast in the ice. About five o'clock on Tues-
day evening (two hours' ebb) the mass began to
separate, and soon afterwards an alarm was raised
that the tier of vessels off the Custom-house, known
as Yarmouth tier, had broken adrift by the pres-
sure. The steamer City of Hamburg was lying
outside, and her chain cables were the first to break,
and immediately after she dragged with her two or
three schooners lying in the tier, each of them
breaking way from their cables. These soon
drifted on to the next tier off the Tower, where
the Waterloo, Berlin, Moselle, and other
steamers were moored along with four coasting
vessels. For a few moments there appeared hopes
that their cables and chains would resist the pres-
sure, but as the ice bore down the whole of
this tier of large steamers was carried away. The
City of Hamburg steamer waas fortunate to escape
out of the crash, for, having steam up, she got under
way and shot across the river to Horselydown,
but the whole of the other vessels were swept down
the river by great masses of ice, which, as they
struck the vessels, shot over thebulwarki and almost
bore them down under water. The excitement
among the crews was something fearful, and the
damage among the shipping by collision and falling
spars could be heard on both sides of the river. All
the steamers and vessels lying in the various tiers
on the north side of the Thames from the Custom-
house to the Tunnel-pier, including the Tower,
Newcastle, St. Katharine's, Dublin, &c, shared the
same fate. The exact number of vessels that were
lying at the various tiers is not known. They were
fortunately not numerous, a great many having, it
is understood, put into dock to escape injury from•
the ice. Out of those which were forced from their
moorings not one escaped damage. Some were dis-
masted, others stove in and otherwise damaged,
while the remainder were driven ashore. in one in-
stance the masts which were carried away fell and
crushed a seaman to death. Most of the Dublin
steamers were carried adrift. The Dodo went ashore
at Alderman's-stairs, where she formed a kind of
barrier against the field of ice, and was the means of
shunting it out into mid-channel. The Lady Eglin-
ton steamer lost some of her boats, arid sustained
other damage. Some of the steamers floated down
in the ice as far as Deptford before they could be
extricated. But the most serious destruction was
among the lighters and barges that were moored in
Joyce's Roads. There were several loaded with
valuable merchandise from ships in the docks for
warehousing in some premises at the waterside—
one of these was laden with property to the ex-
tent of £3,000. As they were carried away, the ice
shot over them and bore them down. Several were
sunk, and three were in charge of their crews, who,
it is feared, perished, for.they have not since been
seen. Numerous efforts were made to save them,
and watermen were offered large sums of money
to put off in their boats, but the danger
was too great for any of them to attempt it.
Some of the steamers dropped their best bower an-
chors to bring them up, but even these, with power-
ful cables, could not resist the pressure from the
ice ; the cables snapped like glass. One steamer lost
both anchors and cables in this way, and was finally
driven ashore. The Custom-house officers' relieving
ship, off the Tower, met with the same fate ; in-
deed, every other vessel that happened to be lying
on the north side of the river to the limits previously
mentioned. The ice cleared the whole fleet, leaving
the north side perfectly free, while the tiers of ship-
ping on the south side escaped entirely. During the
night small craft, barges, and lighters were seen
down the river among the ice off Blackwall, appa-
rently with no one on board. A similar occurrence
happened in the Thames some 15 years ago, but the
damage was not so serious.

CARLISLE, Jan. 23

The traffic on the North British Railway, between
Edinburgh and Carlisle, was suspended from nine
last night till noon to-day by snow. Between
Hawick and Riccarton the snowdrifts blocked the
line for 13 miles, and five goods trains were snowed
up all night. The traffic is now resumed.

Railway and other Companies.

LONDON AND NORTII-WESTERN.
The auditors of this company, Mr. Henry Cron
field and Mr. R. W. Hand, at the request of the
Audit Committee, have described in detail the
steps taken to insure a complete and continuous
audit of the accounts of this great company. Th e
Audit Committee trust that the steps taken by the
auditors will satisfy the shareholders, as it has the
committee, that the accounts are faithfully kept,
the dividends honestly earned, and that the under-
taking is in a safe and sound condition. Messrs.
Crosfield and Hand state that the main check, as
between the Board and its numerous servants, de-
volves on the large establishment at Euston called
the Audit-office, headed by a responsible officer,
who has eight in-door assistants, seven out-door
inspectors, and a staff of 127 clerks, and is presided
over by a special committee of directors. The
auditors from time to time satisfy themselves that
the system of examination is complete, and that it
is maintained in full efficiency. In addition to the
Audit Department there are at Euston station the
chief accountant's transfer, and cashier's offices—
each under the charge of a responsible head, acting
independently of, and forming a check upon, one
another. The responsibility of examining the cash
disbursements devolves upon the public account-
ants, who, by means of their clerks, and
in addition to the check exercised by
the Audit-office, ascertain that there is a
proper voucher for every payment (these
are annually about 56,000 in number), and certify
the same each half-year ; they also examine the ad-
ditions and postings of the traffic books, journals,
ledgers, &c., and supply the auditors with a duly
certified balance-sheet, independent of that drawn
up by the company's chief accountant. The auditors
themselves, however, carefully look through the ab-
stract of payments passed by the Finance Committee
of the Board, any entry out of the usual routine be-
ing noted, and the vouchers called for ; they also
scrutinise every entry in the journal and examine
half-yearly each ledger account, so that the whole
transactions of the company pass regularly under
their review, and thus a complete and continuous
audit is maintained. They personally examine the
debenture registers in the transfer-office, and satisfy
themselves that bonds are not issued in excess of
the ascertained parliamentary powers, and that the
cash actually received by the bankers and entere d
in the accountant's ledger corresponds with the
amounts of such issues ; all paid-off bonds are pro-
duced to them and duly cancelled. The stock and
share registers are balanced twice a year, an abstract
of the contents of each is laid before the auditors,
who compare the same with the statement of capital
raised, having previously checked the latter by the
parliamentary powers, and verified it by the money
actually received by the bankers and at credit in the
accountant's ledgers. They also examine the entries
passed to the credit of the dividend account of the
London and North-Western Railway, as well as of
the subsidiary lines, in order to see that dividend is
not paid upon capital in excess of the correct amount
as represented by the shares actually issued in each
undertaking, the details of the unpaid dividends and
interest are likewise examined each half-year, and
care is taken that the full amount of the outstanding
liability in this respect is duly provided. From the
principal bankers the auditors receive direct and
confidential statements of the cash balances, and
from the country banks (13 in number) certified
returns are laid before them, as evidence that the
amounts of cash on hand, shown each half-year,
really exist. A considerable amount of attention is
bestowed upon the large sums credited under the
head traffic, and a careful adjustment is periodically
made in the accountant's office, which demonstrates

that the company's agents and others have fully
accounted for the moneys earned at each of the 565
stations, the accuracy of the details of such earnings
being duly tested by the ,staff in the Audit-office,
who also certify that all settlements of traffic inter-
changed with other railway companies have been
correctly made. The rents due to the company,
amounting to nearly £BO,OOO a year, also claim at-
tention, the moneys actually received being com-
pared with the rent roll, and the accounts of the
working of the Euston and Victoria and Holyhead
Hotels are also examined. Care is also taken to see

that proper dividends are received on all the shares
held by the company in other undertakings. The
auditors also visit half-yearly, and oftener when
needful, the large manufacturing and other centres
of the company, at Crewe, Wolverton, Earlestown,
Holyhead, Birmingham, Watford, and Stafford ;
they go through the books kept at these places to
satisfy themselves that the large sums there dis-
bursed are properly accounted for, and that a due
amount of repair and renewal is regularly executed,
way, and works
in order that the rolling stock,

may be constantly maintained in a full and efficient
condition. They also require from the head of each

department a certificate to this effect, as well as to
correctness of the stores under his charge, and as a
further check upon the latter very important item
_ . _

an officer wholly unconnected with any of these de-
partments is constantly employed in a careful
stocktaking, with a view to ascertain that the
amounts as shown in the half-yearly balance-sheet
are fully represented by stores actually in existence
upon the company's premises. The books of 11
subsidiary companies, which, though more or less
merged in the general undertaking, yet retain an
organization of their own, receive the personal exa-
mination of the auditors, as also the books of the
three lines held jointly with the Lancashire and
Yorkshire Compa.ny,andof the five concerns in which
the Great Western Company are partners. The ac-
counts of two railways held jointly with the Man-
chester, Sheffield, &c., Company, and one with the
Midland Company, also pass under their re-

view. The London and North-Western ledgers are

kept by double entry and upon the cash basis. The
charge for stores, &c., consumed at Crewe and other
large depots, as also for nails, &c., used by the per-
manent way department, is, however, always one
month in arrear—the books, so far as materials are
concerned, being closed one month earlier than the

. _
date of the printed half-yearly accounts. This is
rendered needful in order that the adjustment of

these voluminous details may not delay the holding,
of the general meeting and declaration of the divi-
dend beyond the period fixed by act of Parliament.
The capital account is very jealously watched, the
disbursements being made almost entirely under the
authority of estimates previously submitted to and
sanctioned by specialresolutions of the shareholders
at the general meetings ; each work as voted has a
separate credit opened, against which the expendi-
ture is charged monthly, until the whole operation
is complete ; this register is laid before the auditors,
who inquire into any case where the outlay is mate-
rially in excess of the estimate sanctioned. Any ca-
pital money expended without having been thus
previously voted is distinctly
and separately shown
in the half-yearly report, and nothing-is allowed to
be charged to capital which ought to devolve upon
revenue, for when any doubt arises the debit is
always carried to the latter account. Since the year
1851 the whole charge for interestand dividends has
been borne by the revenue account, without any re-
gard being had to the amount of capital unproduc-
tively employed in new lines,
&c., under construc-
tion, though this at timeshas been very considerable.
The auditors have no hesitation in stating that dur-
ing this period at least £500,000 has been thus paid
out of revenue. No money raised by the sale or issue
of shares at a premium is ever allowed to swell the
amount of divisible profit, the capital expenditure
being always reduced by such amounts, the sum now
standing at the credit of capital under this head,
arising out of the issue of the last 5 per cent. prefer-
ence stock, being upwards of £240,000. The build-
ing of its own engines at Crewe has been very advan-
tageous to the company ; a comparison of the charge
for the 256 added to stock during the past four years
the prices which they would have cost if purchased
shows a saving of capital outlay to the extent of at
least £150,000, while the system which has so long
prevailed of renewing, at the cost of revenue, the
itnreasc tractive have
small original engines with more powerful machines
renewed, and
a tennd an years
additional4o 0 eng
has also largely improved the company's property.
tDuringhus re ntpower,
ee
rn,
equal, at the very least, to 100 engines, has been
acquired, without any charge to capital. In addi-
tion to the foregoing, there are now-128 of the old
engines, which, though replaced by revenue, and
standing on the books at their value as old materials
only, are yet mostly at active work on the line, and
represent a large additional value to the company's
assets. The building and renewing of the carriage
and waggon stocks have also been effected upon the
same principle. Additional 'Dols and machinery
to a considerable extent, also all the carts, horses,
and other stock at work at the various stations on the
line, have for many years past been supplied entirely
at the cost of revenue. There are half-yearly
charges against revenue, under the head " mainte-
nance of way," for additional works which might
have been placed to the debit of capital. The ori-
ginal timber bridges have also been extensively re-
newed during the last ten years with structures of
iron and stone or, brick, and as no charge has ever
been admitted to capital account in this respect,
sums large, but not easy to be estimated, have been
defrayed by revenue. In the case of the Pen-
maenmawr tunnel, the old loose timber covering
was last year replaced with a permanent roof of
iron and stonework, at a cost of £9,438 15s. 11d.,
and the St. Helen's Canal, recently taken over by
the company, has been greatly improved, by means
of an outlay of £24,600 ; in neither instance was
any charge made to capital. In further elucida-
tion the auditors state that when largely increased
traffic requirements compel the removal of original
stations and their replacement with more extensive
premises, a liberal estimate is made of the cost of
the buildings destroyed ; this is defrayed out of re-
venue by instalments, the first being charged as
soon as the working of the line receives the benefit
of the improved accommodation. The most re-
cent instance of this kind is that of the large sheds
at Camden, towards the construction of which re-
venue has contributed £15,000, spread over the last
three half-years. With the exception of the renewal
of road suspense account, of very remote origin,
now reduced to £37,688, and in course of steady
liquidation, there are no arrears of expenditure which
can be brought hereafter against revenue. The
heavy annual charge to revenue for Parliamentary
expenses is mainly due to the fact that, except when
acts are obtained authorising the construction of
branch lines, no charge whatever is made to capital
account ; the long-standing arrear of these expenses
is at last, however, about cleared off, and care will
be taken to prevent any future accumulations. The
insurance and depreciation funds present favourable
results. The fire insurance account, after allowing,
for the late losses, will still show a balance of up-
wards of £30,000 to credit. The steamboat insur-
ance and depreciation funds amount to £130,000,
and have been invested in the purchase of five
steamers, now actively at work, and replacing two
of the inferior original boats ; while the other two
original steamers have also been enlarged and im-
proved at the cost of these funds; but, over and
above all this, there is still in hand a free balance of
£16,000. The auditors avail themselves of this
opportunity of announcing the resignation of Mr.
J. E. Coleman, and the appointment in his stead of
Messrs. Price, Holyland, and Waterhouse, as the
public accountants, to assist the auditors, in accord-
ance with the resolution of the proprietors at the
half-yearly meeting held Feb. 21, 1831.

GRAND TRUNK OF CANADA.
The traffic receipts on this company's lines for the
week ending the 29th of December last amounted
for local passengers to £5,247, for foreign passen-
gers to £2,590, for mails, &c., to £1,541, for local
freight and live stock to £11,540, and for foreign
freight and live stock to £2,o46—total, £22,964 ;
against £22,162 for the correspondingweek of 1865,
showing an increase of £BO2. The total receipts
from the Ist of July to the above date amounted to

£730,810, and for the corresponding period of 1865
to £728,166, showing an increase of £2,644.

DUTCH-RHENISH.

The receipts for the fortnight ending December
31, 1866, amounted to £12,604, and for the corre-
sponding period of last year to £12,577, showing an
increase of £27. The receipts since the commence-
ment of the present book year, on the Ist of May
1866, including the above, amounted to £184,756,
showing a decrease, as compared with the corre-
sponding period of last year, of £28,463. The work-
ing expenses for the fortnight amounted to £5,098,
or 4045 per cent., and for the corresponding period
of last year to £5,136, or 4142 per cent., showing
a decrease of £3B. The working expenses from the
Ist of May, 1866, to the 31st of December last
amounted to £74,368, or 40.25 per cent. of the re-
ceipts, and for the corresponding period of last
year to 37.15 per cent.