The Sun.
London, England, 1867-01-19 00:00:00

The Atlantic and Great Western Railway,

The following, taken from the Railway News, Of
the 12th inst., with Messrs. Glenn and Co.'s reply
thereto, may be of interest to our readers :
Some correspondence has been forwarded to us
for publication, relative to the Atlantic and Great
Western Railway, and which may serve to illustrate
some of the means by which the securities of this
railway have recently been so unduly depreciated
and affected. We are informed that daily, for
several months past, large amounts of money have
been offered to be advanced upon the securities of
the Atlantic and Great Western Railway Company.
Coincidently most of the leading bankers and
finance companies have been importuned for loans,
the object being to make it appear, on the one
hand, that the company is in need of such loans,
and, on the other, that its securities are in excessive
supply. This singularly original method of " bear-
ing the market " has been conducted by about
twenty persons and firms, who are clever at invent-
ing new combinations after each successive ex-
posure of their plans.
We are informed upon reliable authority that it
is not possible for any one to have control of the
important amount of securities offered so freely.
The correspondencefollowingistheE.C., Dec. referred to:—
m, Water-1ane,1866.
" James APllenry, Esq.

" Sir,—Not having heard from you since the 7th
inst., when writer left with you all our papers,
relating to the loan on the security of Atlantic
and Great Western Consolidated Mortgage Bonds,
which Messrs. Glenn and Co. had asserted they
were instructed to negotiate on direct behalf of the
bondholder, for which purpose appointment had
been made to meet the bondholder at two o'clock at
Messrs. Glenn and Co.'s, to bring him and Mr.
Curtis to the moneyed party, when, after waiting
some time, no bondholder was coming forward, so
that on that day the first loan of £50,000 could
not be settled as arranged, owing to the default of
Messrs. Glenn and Co., on account of which we
claim our commission of £250 on this first loan, and
refuse to go into the matter again until paid. Will
you kindly let us know what result the interview
had, for which you send a clerk of yours to Mr.
Curtis? We also shall thank you to inform us
whether you think our claim is strong enough on
Messrs. Glenn and Co., so that we undoubtedly get
the verdict, and also whether you believe in that
case the firm would be able to pay the amount and
costs. We add that, should you or your friends
at any time wish to negotiate a loan on security of
marketable commodities, which you want to have
arranged quietly, we shall be very glad to receive
your instructions, having no doubt that we could
satisfy you and yours in every respect.—Sir, yours
respectfully, (Signed)

"FELDIIOFF AND Co,

" 10th December, 1866.
" Messrs. Feldhoff and Co., 16, Water-lane, E.C.
" Dear Sirs,—I have your favour of this date,
and, on reflection, I cannot think that the affair of
Messrs. Glen and Co. is worthy of further notice
from me. In reference to your offer of assistance
in any further business, I beg most emphatically to
state that I have not been a borrower of money
during this last year, and am not likely to be for
a year to come. But I thoroughly appreciate the
kindness with which you have brought this matter
before me, and shall be glad at any time to put any
business in your way.—l am, dear Sir, yours
faithf ally,

(Signed)

" JAMES ITHENRY'

" 16 Water-lane, E.C., Dec. 15, 1866.
" James M'Henry, Esq.,
" Dear Sir,--Your kind note of the 10th inst.
has duly come to hand, and we are obliged for the
expression of goodwill towards us it contains. As
you did not answer our question in the matter of
Nlessrs. Glenn and Co., we had to follow our own
opinion in it ; and we beg to acquaint you that we
have resolved to put them in court, which we in-
tend to do to-day. As your evidence relating to
the interview, ordered in writer's presence, with
Mr. Curtis, will be of importance, we beg to ask
you whether we can count upon you as a wiling