The Sun.
London, England, 1867-05-23 00:00:00

THE PEACE SOCIETY.

The 51st public anniversary of this society was
held on Tuesday evening in Finsbury Chapel, Moor-
fields. Mr. J. W. Pease, M.P., son of the president

of the society, occupied the chair. The Rev. B. H.
Hooppell moved the following resolution :—" That
this meeting rejoices in the conviction, that in spite
of recent deplorable outbreaks of the war-spirit
which have dishonoured the civilisation and Chris-
tianity of our age, there are encouraging symptoms
of progress in the direction of peace, as evidenced
by the greater reluctance and hesitation shown to
rush into war, and by the frequent efforts made by

governments to adjust their differences by other
means than an appeal to the sword, of which the late
conference in London, which has so happily con-
cluded its labours, is a gratifying illustration." This
was seconded by Mr. Elihu Burritt, who paid an
affecting tribute to the character and works of the
late Air. Fry, with whom he had been associated for
25 years, and who had been so suddenly taken away
in the midst of his usefulness. The Danish aud Ger-
man wars were not without value, for they showed'
that England awl France hell fast to their doctrine
of non-intervention, which had now become a well-
established and well-recognised principle of those
nations. This was one of the principles of the
Peace Society, and another of its principles—indeed
its foremost principle—that of referring the deci-
sion of quarrels to impartial arbitration, wag tri-
umphant, as appared from the events of the last
few days, he might say. A third object of the
society was the establishment of a common sense in-
ternational code of law. A committee had been
ap-
pointed for the purpose, on the motion of Mr. Dud-
ley Field, at the last meeting 1 the Social Science
' Association, and before the close of the present year
this great work, which would do so much to make
war impossible, it might be hoped, would be accom-
plished. lie concluded with an eloquent tribute
to the influence in favour of peace which in the
Luxemburg question was exercised by Queen Vic-
toria; nor did he omit signalling the wide growth
of French opinion against war, as shown by the
petitions sent up from all parts of France to the
Emperor. Besides, there was a third influence work-
ing in this direction, and that influence was embo-

died in the vast brotherhood of working men over ,
Europe, who were engaged in organising one great
strike against war ; and a great League of Peace
was now in progress of being formed in Paris. ,
Everything was at present encouraging and auspi-
cious for that cause. The following resolution was
also adopted :—" That this meeting has observed
with the deepest interest and satisfaction the popu-
lar movement in favour of peace that has lately
sprung up on the continent of Europe, and rejoices
to find that it is about to assume the form of a re-
gular and permanent organisation, which it is ear-
nestly hoped may hereafter exercise a powerful and
auspicious influence on the relations of peoples and
the policy of States. The meeting greets with re-
spectful and cordial salutations the League of
Peace recently inaugurated in Paris, and de-
sires for it ample success in its arduous but
glorious undertaking." Mr. Handel Cossham
moved the third resolution :—" That this meet-
ing approves of the efforts made by the commit-
tee to arrange for the holding of a Peace Congress
on the continent during the present year, and hopes
it may yet succeed in accomplishing this object."
He had a strong conviction that the day was not far
distant when some substitute for the terrible system
of war would become a necessity. If they got, as
they saw, housebold suffrage from the Conservatives,
what might not they expect ? Let them continue
to sow the good seed, and be confident that the
nations were coming together in the bonds of peace.
Mr. Henry Pease seconded the motion, which was
agreed to ; and a vote of thanks to the chairman
terminated the proceedings.

BLAKELY'S ORDN,-INCE CO. (LI3II7ED).

Captain BLAKELY'S story of Mr. Join DENT'S
connection with the Ordnance Company which

bears his name, although on so►ne points contra-
dicted, is worthy of attention. The rise and fall,
clearly and truthfully toll, of some of the worst of
the Companies formed. under the Limited Liability

Act, would be useful in acquainting the public with
the system which recently prevailed, of promoting
and launching them, on their short and disastrous
careers. We will, therefore, take the few facts

given by Captain BLAKELY, who details them ap-
parently unconscious of the tale they tell. INlr. JOHN
DENT was the head of a princely mercantile house,
whose chief office was in a stately building in

Queen's-road, the street of Victoria, Hong Kong.
In front, reclaimed from the sea, was a spacious
wharf, near which always lay one of the costly,
swift, and beautiful steamers of the firm. The
curious may wonder what this imposing China
house had to do with the casting of BLAKELY'S Ord-

Hance, and this is just the point on which we wish
to enlighten them. In 1861 Mr. JoliN DENT

returned, it was supposed for ever, to England,
with an income, said in the colony to be not less
than £40,000 a year. Being a man of active busi-
ness habits, he appears to have occupied himself in
London, among other things, in connection with
Captain BLAKELY in manufacturing his cannon.
According to the artillery officer's statement, the
firm, consisting of himself and Mr. DENT, cast, dur-
ing 1864 and 1865, yearly, gnus worth a quarter of
a million, of which £50,000 remained as profit.
The orders came iu more freely from Russia, Por-
tugal, Italy, Sweden, and America than the works
could produce, and fresh founderie.3 were projected
at Greenwich. The public were simple enough to
believe that the proprietors of such a concern were
willing to share their gains with them. Ostensibly
they were, and the philanthropic offer was notified

in a widely circulated prospectus. About the time
this document was published, Juue, 1865, the
public were beginning to lose faith in the good
intentions of their benefactors, and companies
were promoted, by the discreditable means of
throwing shares on the Stock Exchange, and
buying them in at a high premium, thus giving
them a purely fictitious value. The Blakely
Ordnance Manufactory was offered to the public
under the usual pretext that the increased business
required additional capital, and the proprietors
guaranteed the profits to amount at least to a divi-
dend of 15 per cent. on the capital paid up for the
first three years. He would have been a shrewd
guesser who could have told the real reason.
The stately house in Queen's-road, Hong Kong,
during Mr. DENT'S absence, had been among the
heaviest losers by the fall iu the price of Tea. For-
tunes melt like snow under a hot sun when pro-
duce, bought in vast quantities at a high cost, is
sold in a falling market at a low price. Bankers'
b tlicnces, under such circumstances, disappear like
the snowy mantle, and differences have to be made
good which tax to the utmost the credit of firms
ranking highest. The great house that bears
Mr. DENT'S name hal an interest to him
far beyond Captain BLAKELY and his annon,
and every effort appears to have been made to prop
up the shaken edifice. Mr. DENT prevailed upon
Captain BLAKELY to form the manufactory into a
limited liability company, with the view of supply-
ing the much-required funds to the China firm.
If the Captain's statement is to be accepted,
although it is contradicted by Mr. CILAMLEY, a
partner in DENT's house, the undertaking was
launched in the usual Stock Exchange style at a
high premium for speculators to trafil:t in, the main
proviso being that the shares should be at once
placed. Mr. DENT'S portion was £115,000 in
slut! es, bills, and bonds, which he discounted, and
sailed for China, but Mr. CHA M LEY denies he brought
any money with him. The mannar of promoting the
company had resulted in placing three-fourths of
the shares in the hands of dummies, with large
outstanding liabilities in the bills discounted by Mr.
DENT. Had the China firm been able to retrieve
its position, and the NY-corks been as profitable as
had been represented, the difficulties might have
been tided over, but the tea house was totally
insolvent. When the bills became due, dum-
mies were found to bo unsatisfactory share-
holders on whom to make calls, and they
were dishonoured. Mr. JOHN DENT could not
take them up, and there remained but Captain
• BLAZELY—wliceo shoulders, however broad, coup