The Sun.
London, England, 1866-10-11 00:00:00

commission so intrusted was placed in safe hands and
would be faithfully performed.
s.—The Registration of £l,soo,ooo:Stock,
The committee, at pages 19 and 20, have charged as an
extreme irregularity the registration and conversion into
stock of this capital, but it was taken by Sir Morton Peto
and Co. as part of the consideration for executing the works
and finding moneys for the purposes of the general under-
taking, and having been subscribed by them, and put in the
names of their nominees, it was isstied to them as paid-up
stock, and so registered in the books- of the company.
This is part of the stock which was disposed of in March

last, and for which the market value only was obtained.

6.—Surplus Land,—

The last general meeting had before it the statement of

he company's valuer that the surplus lands would realise

nearly the amount of flue liabilities of the company on land

account.

The committee have stated that part of the lands treated
as surplus would be required for the company's business,

and have contented themselves by saying that they have no
doubt the surplus will ultimately produce a considerable
amount. It is, however, scarcely doing justice to the posi-
tion of the company to omit the fact which was shown to
thb committee that this considerable amount would be equal
to about £BOO,OOO, since a sum like this makes a material

figure in the assets and balances of the company.
7. Over-Statement of Deficiency in Revenue.
At page 30 the committee give the deficiency of revenue
upon the year ending 30th of June, 1866, at £274,165. It
was pointed out to them that on the debit side they had
charged a sum of £147,928 in respect of interest and com-
mission which could not again occur, and that this should
have been specifically mentioned, so that the shareholders
might understand that, instead of a deficiency of £274,000,
the remaining deficiency would only be £126,237.
It is, of course, a very different thing to look forward to
overcome a deficiency in revenue of £274,000 or £126,000 ;
the latter is really the deficiency, and the directors think
it due to the shariiholders that this should be made intel-

ligible.
8. So frequent allusion is made to Sir Morton Peto and
Co. throughout the report that, the directors feel bound to
call the shareholders' attention to the fact that from the
year 1858, in which the Western Extension of the under-
taking was entered upon, Sir Morton Peto and Co. have
been well known to be the contractors for nearly all the
company's works.
The 'directors are not aware that any firm of contractors
could have been found of greater power of capital, or higher
charactei•:' The tone of the report of the committee would
lead to the inference that no check whatever has been placed
•n the dealings of the contractors, and in page 14 the com-
mittee assert that the necessary precautions do not appear to
have been taken in fixing the prices to be paid on the con-

tracts. It is right, therefore, to state that the prices origi
nally fixed were not only submitted to the company's
engineer and reported upon by him, but were made matter
of reference to the late Sir Win. Cubitt, and finally settled
under his award, and that every subsequent contract was
based upon those prices, and the variations submitted to the
company's engineer, and the company had the benefit of
his judgment. No certificate of works was given to the
contractors except on the measurements of an independent
professional surveyor.
As regards financial operations, in which the company
were assisted by Sir Morton Peto, the directors comprised
in their own body gentlemen conversant with the money -
market, and were advised by others competent to form a
judgment upon these affairs ; but the company has had to
encounter great difficulties in procuring money to carry on
and complete the works, and• sacrifices were unavoidable,
The Board cannot allow, without emphatic contradiction,
any suggestion that they did not, and to the best of their
ability, act upon a due consideration of all the circum-
stances of the moment, and with a sincere desire to procure
for the company the best terms that could be obtained.
9. The Board had anticipated the Committee of Investi-
gation would have suggested some course for the extrication
of the company from its difficulties. They think it right
distinctly to record their opinion that the whole undertak-
ing will be in great jeopardy unless measures are proMptly
taken to raise capital to pay off the floating debts, and thus
enable the debenture holders and shareholders to receive
the net proceeds of the lines as they accrue.
It is true, as stated by the committee, that the order of
precedence of the different interests of the company is under
the examination of the Court of Chancery, but the Board
cannot too strongly express their conviction that the Court
of Chancery is by no means a desirable resort for a railway
company, and the sooner the company can arrange its own
affairs and deliver itself from the supervision of that Court
he better it will be for the best interests of the undertak-

ing.
The Board, after every examination, and using the re-
sults of the inquiries of the Committee of Investigation,
are still of opinion that it will be requisite for the share-
holders to raise not exceeding a million of further capital,
and this sum will be sufficient to retrieve the affairs of the
company, and enable its directors to apply the net revenue
for the benefit of the debenture holders and shareholders.
It is impossible to conceive that the conductors of an un-
dertaking of the magnitude of the London, Chatham, and
Dover can hesitate to raise such a sum for such a purpose.
The directors themselves invited the appointment of the
Committee of Investigation, and although they have felt
bound to criticise some of the details of the report, and to
vindicate themselves from the charges which might be im-
plied from its tone, yet they feel, as they are sure the
shareholders generally will feel, that these gentlemen will
have" placed the company under groat obligation by the
time and labour they have bestowed upon the investiga-
tion, and by the elaborate report they have issued.
By order of the Board,
W. E. iToltssorr, Secretary.

The last eclipse of the year took place on Monday ,
afternoon. It was one of the sun, and only par- ,
tially visible in Paris, producing scarcely any per-
ceptible effect. It began at 17 minutes to 5, and
was at its strongest phase at 22 to 6, just
when the setting of the sun took place.
MR. W. M'CoNNELL.—Numerous contributions
towards the formation of a portfolio of drawings have been
made to enable this well-known artist to have the benefit
of a temporary change of climate, with a view to the re-
establishment of his health, which has been so seriously
impaired by, perhaps, too close application to his profes-
sion, as to have rendered him for the last two years unable
to work. The collection contains drawings or sketches by
Sant, W. Collins, R.A., Frederick Goodall, R.A., John
Gilbert, Charles Keene, Tom Hood (the elder), E. Hargitt,
George Cruikshank, Flaxman, Hayes, C. Cattermole, D.
Roberts, Brierly, J. D. Watson, Sandys, and many others
Mr. WOonnell has, we believe, drawn for the illustrated
News, the Leisure Hour, London Society, &c. His address is
17, Tavistock-street, Bedford-square, where the drawings
are to be seen daily.—Art Journal, October.
THE SUNKEN EMIGRANT STEAMER.—The efforts
made to raise the steamer Floride, which sank in the dock
at Havre,, as stated in our Tuesday's impression, have proved
fruitless. During low water on Saturday the pumps were
kept vigorously to work, but although they succeeded in
considerably reducing the water, yet from not having been
able to stop all the openings, when the tide rose the vessel
was again filled. The next morning the labours were ac-
tively resumed, divers descending to close all the ports and
scuppers. Additional pumps have been ranged on the quay,
the yards, anchors, &c., have been landed, and relays of
men provided to work the pumps. No idea can be at pre-
sent formed as to the cause of this unfortunate event.

SINGULAR AND FATAL ACCIDENT TO A FORE&
TER.—Mr. Powell and his forester, George Ur-
quhart, were out deer-stalking at Cairntoul last week,
when the former severely wounded a large stag. Urquhart
and a watcher named Grant went to secure the prey, and
followed it into a narrow ravine, where the former pushed
at it with the butt-end of his rifle, in order to drive it on
to more level ground where it could be killed and carried
away with greater ease. The animal kicked out and caused
the rifle to be discharged, the contents passing through the
body of Urquhart, inflicting a mortal wound. The stag
itself fell dead immediately afterwards. The forester lived
for two hours and a half, Mr. Powell being his sole off
tendant in his last moments, Grant having been sent 11
for assistance to the nearest house several miles inquest
A MAN BURIED ALIVE.-011 Tuesday
was held at Liverpool on the body of
jlt)bezirs of the
patrick, a labourer, 42 years of age. The eirasprooye
and
at
an3inaiu.ietzst_
deceased had lime-works at the end of Paul-cat
work. He returned to breakfast at e,:g.
two o'clock on Monday morning the debeetao,c
10 to go to the lime-
not go to dinner, which induced hiss:ccess.
it appears by
kiln in searchof him, but withouedt
John GaTnet that at the
but did
dhiids
the evidence of a labourer nam loN:;loci,abt
nadn and
roonmTi
it,
ehse-
lime-works there isG
day morning, as blocked uP Ind prevented the
found that the
" eye"coWnaSgetting a light to ascertain the
course of the sand.
aarnsaentdlwt 2dOrafe:tindgeepsa,
There was about 20 tons of sand
beside them.
hanging was then recovered dead. The jury
him. The body
ff .t that the deceased was found
cause be discovered the legs of the deceased, and a spade
bow he came there no evidence
the sandkiln,
dead in
appeared to prove.
Na THE BANNS. —On Sunday morning,
rueptounrned a verdict. to buteffect
iORDIDDI
bast the incumbent of St. Judo's Church, Eldon-street,
Sheffield, was calling over the names of persons intending
to be married, he was interrupted by a respectably-dressed
man—a stranger to the congregation--who, in a clear and
firm tone, said, " I forbid the banns between and ."
The congregation and minister (theßev. G. Sandford) were
startled, and surprise was on the countenance of every one,
as each individual turned towards the objector. After a
pause, embarrassing to everyone, the minister intimated to
the objector that he and tho churchwardens would see him
in the vestry at the conclusion of the service.
SIGNIFICANT.—A few days ago, in Keighley,
which is one of the most Radical districts of the West
Riding, a deputation canvassed the whole of the artisans in
a machine-makers' establishment of high repute, where be-
tween 300 and 400 people are employed, with a view to
raise funds in support of the Reform League, when the
very significant sum of ls. 411 was the total subscribed.
—Halifax Guardian.