The Sun.
London, England, 1850-02-15 00:00:00

ZiiirV Witttiatt

SUN OFFICE, Seven o' Clock.

EXCHEQUER.-(THIS DAY.)
THE CHARTIST LAND SCHEME.
O'CONNOR V. BRADSHAW.

(Continued from our Afternoon Edition.)
Mr. Knight, a clerk in the Union Bank, said he had
received an offer from Mr. O'Connor to become the
manager of his bank at a salary of 500/. a year; but
when he saw the constitution of the bank, and the offices
in Holborn, he wrote to him to decline accepting the
office.
Mr. Ansell, actuary to the Atlas Assurance Society,
examined by Mr. ROEBUCK, said—l have read the rules
of the National Land andßank Company. The number of
shares are stated to be 100,000 at 265. each, which
would raise 130,000/. Taking the first capital at the
limitation that no person should have more than four
or less than two shares, 35,000 shares might be allotted
out of the drat capital. Supposing it cost 300/.
to locate each person, 130,0001. would locate 433
persons. Supposing the capital to be 273,000/.,
subscribed by 70,000 persons, that sum would locate 910
persons. If the estates were sold, and other estates
bought, at 273,00 C/., and this process were to be re-
peated every year, it would take 150 years to locate
0,000 persons, and the cost would be 21,000,0001.—
(Loud laughter.)
Mr. ROEBUCK said this was all the evidence he pro-
posed to offer.
The Court adjourned fur a short interval, and on the
return of his Lordship Mr. ROEBUCK complained of the
close atmosphere of the coati, and requested that the
windows might be opened.
Mr. Sergeant WIKLINS said the air was intolerable,
and if Dr. Reid's system of ventilation were continued
the emigration committee would be saved a great deal
of trouble, for he would kill the whole of them.
Mr. Philip: M.Grath, the financial secretary and
director of the National Land Company, was next ex-
amined. The directors, he said, attended at the
offices in Holborn from nine in the morning
until six in the evening, and they consisted of Mr.
Feargus O'Connor, Mr. Doyle Mr. Thomas Clark, Mr.
William.'Dixon, and himself. The professed object
of the company was to purchase land, and to distribute
it among the subscribers. The witness then gave an
account of the different conventions and conferences
held throughout the country at which the rules
were drawn up and settled. The receipts of the
company and all the proceedings of the direc-
tors were regularly published in the columns
of the Northern Stur, which was generally read by the
members. Five estates bad been purchased, and on all
of them allottees had, been located. The society had
about 500 branches in the provinces; each had a se-
cretary, who called a meeting of members every
week, and whose duty it was to collect the
subscriptions and to remit them to London. lie (Mr.
M•Grath) was in the habit of drawing up a weekly
balance-sheet, which was inserted in the Aorthern Star,
and thus a check was kept both over the local secretaries
and the London office. This plan had been adopted ever
since he became connected with the company. Mr.
O'Connor was the treasurer, and he brought forward
his balance-sheet at each annual conference, and the
course of business at each of these meetings was
to appoint an audit:committee, who inquired into
its corectness. The bank was established at the
Lowbands' conference in December, 1846, and com-
menced operations almost immediately afterwards. It
was carried on, in the first instance, in Dean-street, Soho,
where the business of the Land Company was trans-
acted; but the offices were removed, in December, 1847,
to Holborn, where the two departments were separated
and managed by different parties, although under the
same roof.
Cross-examined by Mr. ROEBUCK—My duties are de-
fined by the rules. It was my business to keep the
books of the company. There is a day-book, a cash-
book, and a ledger. The conference at Low bands, in
Gloucestershire, had submitted to We balance-sheet of
the accounts, and it was ratified. I have not got it, but
suppose it is in the possession of Mr. O'Connor.
The Item of 1.9221. entered into the cash-book was
handed over to Mr. M`Gowan, who is a printer and pub-
lisher, and the agent of Mr. O'Connor in London. I
receive a salary of 21. a week, and the directors aro all
paid and receive a similar sum, with the exception of
Mr. O'Connor, who has no remuneration. One of the
rules required that the financial secretary should ac-
company one of the directors to the London Joint
Stock Bank, when any money is paid in,
I have never done this, but as the rules were not en-
rolled under the Friendly Societies' Act, we did not
think it strictly necessary to act upon them. There
is nothing in the rules which authorised me to
pay any money over to Mr. M`Growan. The total
Rum he received was 112,2771. Hid. We found :out
in 1848 that the company in conaection with the bank was
but we received after this deposits to the amount
of 20,0001. or 30,0001. Mr. O'Connor wrote a circular to the
depositors, stating that the Bank and Land Company would
be separated. He then became banker as well as trea-
surer. When the separation took place, the depositors
lost their security upon the land. After the circular the
money was still paid to Mr. M'Gowan.sThere had been
previously one common account, but the departments
were kept entirely distinct afterwards, and the expenses
of the bank were paid by Mr. O'Connor.
Re-examined by Mr. Sergeant WI-.mm' Mr.
O'Connor has not received a single farthing from the
company, although he has devoted a great deal of time
to promoting its objects. The other directors are work-
ing men, and it is impossible for them to give their ser-
vices and to travel about the country without receiving
some remuneration.
Mr. M'Gowan, the printer of the Northern Star, and
Mr. Price, the manager, and other witnesses, were ex-
amined, but the case had net concluded at the rising of
the Court.

MARKET INTELLIGENCE.
(From the London New Price Current, Feb. 15.)
SUGAR.—To day only a small business was concluded
in West India Muscovado Sugar for the pan or scale,
the purchases amounting to 364 hhds, &c., and rather
lower rates are acceded to. The sales for the week
amount to only 1,170 hhds, whilst the reduction in
prices amounts to 6d per cwt, and the market closes
with a dull aspect.
REFINED.—To-day there was no variation in the
value of Refined Sugar, but home dealers made put-
ehasea with greater freedom, and an impression exists
that prices have arrived at their lowest point, at least fur
the present.
MAURITIUS.—This afternoon the public sales of Mau-
ritius Sugar went off flatly, and at rather lower rates, but
the chief part of 18 trcs 5,411 bags found buyers. Very
fine yellow went at 435 6d, fine 39s 6d to 40s 6d, other
sorts 35s 6d to 395, very low brown 23s to 29s 6d, better
sort 30s to 335, and good and fine 34s to 35s 6d per cwt.
EAST INDIA.—This afternoon the public sales of
Bengal Sugar consisted of 2,907 bags, and the chief
part sold; white Bemires. went at full terms, but
for other sorts prices were barely supported:
the rates obtsined fa. white Benares were 39s to
41s 6d. soft yellow 34s 6(1 to 38s 6d, like Mauritius
35s to 395. Of Penang 1,6641 bags 14 ere sold at rather
lower terms; brown went at from 29s to 33s 6d, yellow
345 to 38s 61, and superior 39s to 40s 6d. Of Madras
1,000 bags were taken in; soft yellow at 32s to 33s 6d,
and low brown ditto at 29s 6d per cwt.
'MoLessEs.—The business concluded in West India
has been small. sill in the value little variation is appa-
rent, as the supply is at present limited. For low to
fine the value is from 15s to 18s per cwt. Bengal
Treacle 14s to 14s 6,1.
FOREIGN.—On Wednesday at public sale 10,045 bags
Manilla were taken in at stiff rates; clayed greyish
yellow w 38s to 38s 6d, low brown Muscovado at 32s
6d. Of 848 hhds 198 brls Porto Rico a small
?Ist only sold at the former value ; brown at
from 354 to 364 6d, good and fine yellow 39s to
424 6d, low to middling 36s 6d to 38s 6d. Yesterday
2,509 chestt of yellow Havannah were offered, and the
sound was taken in at fullt erms, yellow from 40$ to
42s 6d, but washed, of which the chief part consisted,
sold at rather lower rates, and went from 37s to 40s 6d.
324 pkgs Bahia were all taken in at stiff rates, from
37s 64 to 43-. 3u7 chests yellow Ilavannah, in bond,
sold up,,n rather lawsr terms, and went at from 18s to
22s ad for low to fine washed; whilst 4,211 bags Manilla
were al' withdrawn at 17s 6d to 185.
COFFEE.—This atternoon t 1 ere was no public sale of
Coffee, but by privsts treaty more disposition was
evinced to operate, and prices are firmer. In Native
Ceylon a good business was 'concluded, but almost ex-
clusively on speculation, and prices advanced to 61s to
610 64 per cwt. The public sales of Coffee declared to
take place here in the ensuing week are small of both
home trade and shipping sorts.
Cocoa.—The business concluded in Foreign has been
small be private trusty. At public sale 526 bags Bahia
were taken in at 355 for good bright red. Of Trini-
dad tt. • ► apply at market this week has been
larger than for some time past. At public
sale on Tuesday 520 bags were nearly all taken
in at stiff rates ; red at 45s to 48s, and grey at 44s to
45s per cwt. Yesterday ;500 bags were offered, and a
small portion only sold at 45s Ito ,46s for good red, ;
/hese are about previous rates.
TEA.—In ordinary and good common qualities of
Congou the sales made have been upon a larger scale
this week, and prices are firmer, whilst a good busi-
ness has been concluded at 10d to lOid per lb. Other
sorts have been sold to a fair extent at full terms.
mixed blackish leaf and blackish loaf rhalising lld to
is 3d, and other sorts Is 4d to Is 10d. Green Tea has
been in good demand, and last week's terms are well
supported, more especially for low and middling
sorts. Twankay continues to be wanted for expor-
tation, and there are no sellers of ordinary under 8d
per lb. A fair business has been concluded in Scented
and Pekoe La at fully last week's terms.
RicE.—Holders of East India are unwilling to accept
lower rates, and continue to supply the market sparingly.
The value of low white Bengal is 8s to 8s 6d, middling.
95 to Ss 6d, better sorts 103 to 11s, cargo Bs, and
pinkey white Madras 8s to 9s. Only 423 bags •
Bengal have been offered at public sale, and sold
at 9s-6d to 103 for white, and at 7s to 856 d for damaged.
In Patna less business has been done, still the rates
asked are 12s to 18s, and for broken 10a to 11s, Full
rates were asked for Sago. Sago Flour 223 to 22s 6J.
Farina 15s to 17s. Tapioca is on the decline ; 17 boxes
Bahia at auction taken in at 4d for middling. Full rates
aro asked for Arrowroot. At public sale 100 pkgs were
only in part sold, Bermuda fine at 28 2d, St. Vincent
middling and good ',9id to 100, ordinary 8d; East
India 51d, Bengal sd, Jamaica 8d to is Id, and Antigua
at 51 to 6d per lb. Today at public sale 97 casks of
EiNarolins. Rice were sold at 20s to 21s for American ji') I T
Ildttliftt), and 100 cases Pearl Sago22s to 23s 6d pit. cwt.
.—To-day at public sale 70 bags of Bourbon
10r ere taken in at Bid; 2 cases Mace sold at 23 8d
• --`l9 Od tor good, and 3 cases Nutmegs at 2s 10d to 3s
• f

for brown. For auction on Thursday 4,000 chests of
Cassia Lignia are declared.
FRUlT.—Valencia Raisins are firm at 48s. There is
a fair inquiry for Denis Raisins, but we believe there
are unsold in the importers' hands. There is scarcely
anything doing in Muscatells or Figs.
SPiarrs.—Operations in Leeward Islands Rum have
been limited this week, still holders are not disposed
to press sales, and require is 5d to is 6d for proof. The
market is quiet for East India, and the value of proof
is is 4d to is sd. Supesior Jamaica sorts are wanted
for both home trade purposes and shipping, and full
terms are :paid, but low and mid kinds have been ope-
ra'.ed in with caution, yet full terms are insisted upon.
The value of fine and superior sorts 33 to 36 per
cent over proof is 3s 2d to 4s 2d, and other descrip
tions 28 to 32 per cent 2s 6d to 31. For strong
Demerara holders insist upon 2s 4d to 3s 6d, still not
much demand has been experienced this week. In the
xalue of Brandy little apparent variation is apparent this
week, but not much business has been done. Full terms
are insisted upon for Geneva, and in the value of British
made spirits there is no variation.

COCHINEAL—To-day the dullness in the market for
Cochineal further increased; of the parcels offered at
public sale, amounting to 137 bag*, a small part only
sold at barely former rates—Teneriffe at 4s, and Hondu-
ras silvers at 4s to 4s 3d.

atternoon the public sale of 158 serous
of Guatemela Indigo went at firm rates, and the whole
sold at from 2s 6d to 4s 10d.

TALLOW.—This afternoon at public sale 1,242 pkgs
South American Tallow were only in part sold at from
329 to 36s 6d, and 900 cks Sydney at 33s to 37s per cwt.
OILS.—The home and export demand has been brisk
for Linseed Oil this week, and prices have advanced to
32s 3d to 32s 6d per cwt. on the spot, and on the
part of Crushers firmness is apparent. For delivery
many sales have been made at from 32s 6d to 33a.
Palm is offered at a further reduction, and few buyers
are to be met with, the value is from 31s to 31s 6d. The
market for Rape Seed Oil has a dull aspect, and lower
terms are acceded to, brown selling at 40s, pale 41s.
Foreign 43s to 445. Cocoa Nut Oil met with
little attention, and is offered at from 333 to 355. For
Olive the demand is not so active, still prices are firm,
and rule at from 481 to 51/ per tun. Purchases to a
fair extent have been made in Cod at 301 lOs
to 31/, and there are not free sellers. For Seal the
market is quiet, and prices are inclined to give way—
pale is to be obtained at 381 to 38/ lOs, straw and tinged
34/ to 37/, yellow and brown 31/ to 33/. There has been
rather more demand for Southern at from 321 to 331 10s.
Sperm met with little attention, but fine Colonial is not
to be purchased under 82/.

IMPERIAL PARLIAMENT.
(THIS EVENING.)

HOUSE OF LORDS.

The LORD CHANCELLOR took his seat on the Woo:
sack at Five o'clock.

Lord BROUGHAM presented a petition from the
solicitor to the Fishmongers' Company, praying that
their Lordships would permit the officers of the House
to give evidence at a trial about to take place in the Court
of Common Pleas.

On the motion of the NOBLE and LEARNED LORD, the
prayer of the petition was granted.
The NO➢LE and LEARNED LORD also presented a
petition from the Kirk Session of Lanarkshire against
Post-office work on a Sunday.:
The Marquis of DEVONSHIRE presented a petition
from some place in the county of Down against the
national system of education in Ireland.