The Sun.
London, England, 1866-05-29 00:00:00

exceeded in value the amount obtained on them by
nearly £250,000.

Mr. EAMES, seconded by Mr. lions, moved that
the committee be requested to continue in office till
after the next meeting, to take such steps as would
further the voluntary winding up of the company.
The motion was carried.

The CHAIRMAN, in reply to questions, stated that
the liabilities of the company were about £2,700,000
when first presented to the committee ; they would
therefore want £2,000,000 to carry them through.
His belief was that, with a call of £5 per share paid
up, and arrangements with the largest creditors, they
would want no more than the £5 call in addition to
the calls already made. But there were two sides
to the question ; the association had entered into
solemn compact to lend thousands of pounds to con-
tractors to carry out certain works, those contracts
had been entered into, and the association were
bound to see those contracts carried through. He
wished that every account had been as profitable
and safe as that of Messrs. Peto and Betts. Some
years ago he was a partner in that firm, and as to
Sir M. Peto, he was truth and honour itself, and he
was that the credit of that firm would not suffer
with them, and they were bound to see it safe
through. The association must fulfil its obligations.
It was altogether a pocket question, £lO per share
had been called up, and all they would want was £5
per share more, making in all £l5 a share to carry
out their engagements. With the forbearance of
their creditors they would not only be able to pay
their debts, but to fulfil their obligations.
The best thanks of the meeting were then voted
to the chairman and committee for their services,
and the proceedings terminated.

RAILWAY BILLS.
Yesterday in Room B, Home of Lords, the fol-
lowing Bills were passed :—The Kingsbridge, to
raise £200,000 by shares of £66,600 by loan, to
make two railways of an aggregate length of 5 miles
46 chains ; the Bridport,, Lyme, and South Coast ;
the Manchester, Sheffield, and Lincolnshire (addi-
tional powers) ; the Metropolitan (additional powers)
to raise £1,000,000 by shares and £333,000 by loan,
and to contract with other railway companies ; the
Manchester, Sheffield, and Lincolnshire (new lines) ;
the Bradford, Eccleshill, and Idle, to raise £65,000
on shares and £21,600 by loan, to make a railway
of 4i miles in length, the London and South-Western
(Poole and Bournemouth Junctions), to raise
£BO,OOO by shares and £26,500 byloan to make four
railways ; the Winchombe and Midland to raise
£42,000 by shares and £14,000 by loan, to make a
railway 54, miles in length; the Manchester, Shef-
field, and Lincolnshire (Liverpool extension) ; the
Bristol Harbour Junction and Wharf Depot, and
the Great Northern (additional powers) to raise
£850,000 by loan. The Wrexham and Minera, the
Liverpool Central Station, theMacclesfield, Knuts-
ford, ani Warrington ; the Wrexham, Mold, and
and Connah's Quay (extensions) ; the Wrexham,
Mold, and Connah's Quay (additional powers); the
West Riding and Grimsby, and the Mersey Pneu-
matic Bills were adjourned.
In Group 3, House of Commons, the South Eastern
and London, Chatham, and Dover (London, Lewes,
and Brighton) Bill was again heard and adjourned.
In Group 12, the Bedford and Northampton Bill
was referred to the Chairman of Ways and Means.
The preamble of the Southam Bill was not proved.
In Group 14, the Midland (Ashby and Nuneaton)
and the Midland (Branches) Bills were adjourned.
In Group 16, the Bristol and North Somerset
(Southern exten.) Bill was withdrawn. The Bryn-
maur and Blaenavon and the Mold and Denbigh
(Branches) Bills were adjourned. In Group 19,
the North British (Glasgow Branches) Bill was
adjourned.

The Trade of South Staffordshire.

____ ___ ~..

BIRMINGHAM, Saturday Evening.
The hardware trades of this town and district
have nearly all been languid during the past week.
Many large firms, aware of a scarcity of orders,
freely availed themselves of the occasion of Whit-
tide holidays to close, either wholly or partially,
their works. The panic, which a fortnight ago shook
our entire commercial system, has left traces of its
influence here which it will require many months to
efface. The depressed state of the money-market,
the repeated failures in the metropolis, and the pro-
bability of a oOntinerital war, are causes amply
sufficient to discourage enterprise afid reduce ope-
rations to the narrowest limit.

Here, as may be supposed, every failure announced
in London reacts with injurious force upon every
department of manufacture. The stoppage of the
European Bank created some astonishment and un-
easiness in this locality, from the circumstance that
this bank, some time ago, took to the London, Bir-
mingham, and South Staffordshire Bank, and for a
short time carried on business in this town.
In reference to particular branches nearly all
the staple trades of the town are quiet. Many of
the firms have the good fortune to have a supply
of orders in band which they received some time
back, and these enable them to keep their men
employed. The advices sent home by the factor
travellers have been during the past few days by no
means encouraging, and their tenour is to the effect
that a continuance of the present dulness may be
expected for the next two or three months. Country
shopkeepers order with reluctance, and the district
travellers, who here represent London houses, are
not pushing much to obtain orders at present.
Some firms, however, enjoy an exceptional pros-
perity, among which may be mentioned manufac-
turers of heavy material, such as engineering tools
and implements, hydraulic and other lifts, &c., and
for these some large engineering contracts for
India and the East are in hand. The demand for
black ironmongery and builders sundries has de-
creased. The light steel toy manufacturers and
cabinet brassfounders are tolerably well supplied
with orders, but dulness prevails in the edge tool,
electroplate, and fancy trades. There are some
useful orders in hand for metallic bedsteads, for
foreign markets. Labour is by no means in good
demand, and outworkers are not so well employed
as they were ten days ago.

The foreign trade continues dull, and little im-
provement can be expected so long as money main-
tains its present high price.

The iron trade of South Staffordshire, as may be
anticipated, is languid. Orders now received for
finished iron are almost nominal, and home and
foreign orders are not easily met with. The specifi.
cations distributed at quarter day have been worked
out, and the deficiency of orders places buyers at an
advantage of, at least, ss. per ton compared with
official prices. At the works very little has been
done during the week, both employers and em-
ployed appearing well pleased to keep Whitsuntide
holidays. Home consumers now buy just sufficient,
and no more, to supply actual requirements.
A meeting of the creditors of _Messrs. Hartshorne
and Ward, anchor and chain manufacturers, Queen's
Cross, Dudley, was held on Saturday morning.
Messrs. Hartshorne and Ward made an offer of 10s.
in the pound, ss. to be paid down, 2s. 6d. in six
months, and 2s. 6d. in twelve months. The liabili-
ties amounted to £19,040 15s. 3d., and the assets
to £9,115 11s. 9d., leaving a deficiency of £9,925
3s. 6d. The offer not being accepted, the meeting
was adjourned. On Thursday, at an adjourned
meeting, Mr. C. E. Swindell in the chair, a report
of the committee of investigation was read, and it
was decided that an assignment of the whole of the
partnership property should be made to Messrs. C.
E. Swindell, W. Hargreaves, and F. J. Roberts,
jun., as trustees for collection and realisation for
the benefit of the creditors. The members of the
firm agreed to comply with the terms of the resolu-
tion.

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