The Sun.
London, England, 1850-01-29 00:00:00

TUE SUN, LONDON, TUESDAY

r at a rate of interest not exceeding four per cent.,
and thus prevent in future their being overtaken by
such a crisis as that which occurred in the year
1848. The directors had gone through the
receipts and expenditure of recently opened lines,
which at first were always looked upon as incubi
upon the main line, and the result was highly satis-
factory; the worst of them, namely, the Newhaven
branch, yielding a return of 3 per cent. on the cost of
construction. The excursion traffic during the past
half-year had greatly increased, and the result of an
inquiry which the directors had instituted into the
effect which the excursion trains had upon the ordi-
nary traffic, had satisfied them that it diminished it in
no degree whatever. It must, therefore, be highly
gratifying to the shareholders that the company had
been enabled to afford so much pleasure to the indus-
trious classes of the metropolis, not only without loss,
but with a respectable profit, while an increase in the
accommodation given to the public on the Epsom
branch, by a reduction of the fare and an increase
of trains, had certainly resulted in no loss to the
company, if it had not secured a profit. The ex-
penditure was so fully gone into in detail in the
report, that it was only necessary to point to the
general result. It was• shown in the report,
that the saving in expenditure over the year 1848
amounted to 15,0001,, which had been expended in
the renewal c f working stock and adopting the prin-
ciple cf a reserved fund, which was recommended at
the last meeting; he saw no difficulty in the way of
their ultimately closing the capital account and
charging everything to revenue. The amount ad-
vanced to the Brighton and Continental Steam
Packet Company had been repaid, the directors con-
senting to forego the claim of this company for in-
terest ; and when he looked at the legal difficulties
which must have stood in the way of their recovering
the money at law, he felt that the conclusion which
had been come to was highly advantageous to them-
selves.

A PROPRIETOR wished the Chairman to state the
result of the working on the Horsham line.
The CHAIRMAN was glad his attention had been
directed to that branch. It returned a profit of Si.
per cent. on the cost of expenditure. A mistaken
impression prevailed out cf doors that this line had
been ruined by its branches, the fact was these
branches were all of them remunerative: With re-
gard to the question of Government audit he would
simply mention these facts. No less than a million
of money had been expended by the company in Par-
liamentary contests, while the line itself was taxed at
the rate of 40,000/., and were it not for the interest
they had to provide for this useless and unproductive
expenditure, the company at this moment might be
dividing six per cent. Upon the matter cf future
prospects he did not like to indulge in predictions,
but with the increase that was going on in building
property in the various coast towns which the line
accommodated, he saw no reason why their receipts
should not go on gradually progressing. The ex-
press trains to Brighton had greatly accelerated
bringing that town within forty instead of fifty miles
of the metropolis. This accelerated speed had not
been obtained by an increase in the cost cf working,
it was produced by diminishing the stoppages, and it
was likely to prove as remunerative to the company
as it was advantageous to the public. lle concluded
by moving the adoption of the report.
In reply to questions from Captain KELLY,
The CHAIRMAN said he could gi►e no estimate of
the value of surplus land, but it yielded a rental cf
4,0001. a year. his impression was, that it was
worth about 40,0001. As regarded the number and
description of the rolling stock, the shareholders
would ;find a statement upon that head in a former
report of the company. The directors, however,
had under their consideration the propriety of giving
more detailed information in their accounts ; and he
hoped the improvement would be brought into opera-
tion next half-year. He proposed to recommend the
proprietors to put aside 15,0001. a year until such a
sum was accumulated as would enable theni to pro-
vide for all new works and cuntingencies, without
making calls upon
.the proprietors. The company
had Parliamentary 'powers more than sufficient to
raise, either by loan or :shares, one million four
hundred thousand. The Portsmouth station, in
round ;numbers, would cost 50,0001, of which the
company would contribute one half, and the South-
Western the other half.

Mr. LEVY objected to the reserved fund. All the
earnings ought to be divided amongst the share-
holders of the day, and leave all contingencies to be
providded for by loans or calls. But if they must
have a reserved fund, why should not the preferential
shares contribute to it ? Just let him put this case.
They paid the chairman 1
.5001. last year. Now,
suppose they said to him this year, " Mr. Laing, we
will give you 8001., and the balance of 7001. some
other time. You managed very well year, but
you may hive contingencies next, and we keep the
7001. to provide for them." Well, that was just it
hare, and he hoped they would have no reserved
fund.

Mr. Alderman WILSON moved as an amendment
that the report be adopted, with the exception of the
paragraph relating to the depreciation fund, and that
the 15,0001. he divided amongs the shareholders as
flu- as it was divisible.

Mr. WOOD seconded the amendment.
Mr. Smrra wished to know how long they were to
set aside the 15,0001. a rear ?

The CHAIRMAN could not tell at present.
A PROPRIETOR asked if a vote would be taken
every year upon the question of the reserved fund ?
The CHAIRMAN replied in the affirmative, adding
that when the proprietors thought the fund was
getting too large they could stop it.

Af. er some further diseuision the amendment was
put and negatived by a large majority, and the report
adopted in its integrity.
On the motion of the CELAIRM IN it was then re-
solved, ",That 15,0001. be set apart towards a reserved
fund, and be invested in the company's debentures,
or other approved securities, in the names of three
trustees, and that no part of such reserved fund be
transferred without the consent of a special meeting
called for that purpose, and that the accruing interest
from time to time be also so invested."

The dividend was then declared payable on tbe
sth of February next.
A resolution was then passed authorising the con-
solidation into stock of such of the eighth shares D
created on the 19th of August, 1846, in respect of
which the whole of the calls shall be then paid up ;
and also to determine upon th 2 consolidation into a
six per cent. stock of such of the six per cent. shares
G- created on the 27th of May, 1848, in respect of
which the whole of the calls shall be then paid up.
The retiring directors were then re-elected, and a
vote of confidence in the direction, and thar k 3 to the
chairman having been unanimously passed, the meet-
ing terminated.

QUEEN'S BENCH.-(THIS DAY.)

IN THE MATTER OF BARBER.

Mr. Sergeant WILKINS (in contintue tion from our
Afternoon Edition) said—With regard to the charge
that Barber called himself an agent for the insurance
company when he was no longer so, it was true that he
had not done anything for the company, but he still re-
tained the insignia of office, as he migt t call them—the
books and pripsre, and ho never had resigned the office
of agent. This very Stiddolph, ef,er Mr. Barber's return
to London from transportation, called upon him to
proffer him his warmest sympathy, and if he tgain got
into practice, to promise his best support. It must he
borne in mind that throughout all the affidavits which
had been made to contradict Jr. Barber's ttaaement,
they had never given a whole letter, but only certain
excerpta cf letters, such as suited their eau purposes;
and it must also be borne in mind that Mr. Barber bad
to answer these affidavits entirely from memory, and
without any books or papers to help him, at a distance of
12 years, f Air of which had been spent in acute mental
agony. If they were to believe Mr. Stiddolph, after he
had suspected that Barber had been appropriating the
premiums all communication ceased between them; this
was untrue, fer it appeared that from December, 1841,
to Apri', 1842, the two were in constant communication,
both persona'ly and by letter, relating to the sale of an
estate, and yet Mr. Stiddolph swears that to the best of
his knowledge from March, 1841, Le never had any com-
munication with him. With respect to the pamphlet
which bad been mentioned, it was Mr. Barber's proper
course to take to set his case before the community—
Sir F. THESIGER said that he must certainly interrupt
his Learned Friend ; he had had sufficient latitude
already.
Mr. Sergeant WILKINS—Not an inch of latitude.
Sir F. THESIGER—WeII, longitude, then.
Mr. Sergeant Wieser-es—My Learned Friends have
certainly the advantage of me there. Well, then, with
regard to Stiddolph, it seems to me that when he
swears that he paid Barber the 51, it could not have
been a simple mistake; the Learned 'Master did not be-
lieve him. Was it a deficiency of memory when he
swore that he had E 0 correspondence with Barber Efter
Al arch, 1841? Which of the two men would a dispassion-
ate man believe ? Ile had now gone through the whole
case, and it now only remained for him to show the
Court what they had a right to demand—how Mr. Bar-
ber had conducted himself during his absence from this
country. (The Learned Sergeant was about to read
some extracts from the pamphlet published by Mr. Bar-
ber, when he was interrupted by
Mr. Justice I'ATTEsox enquired whether what his
Learned Friend was about to read were affidavits?
Mr. Sergeant WILKINS.—NO, my Lent they are cer-
tificates from persons t f high respectability, who had
means of observing Mr. Barber's conduct abroad.
Mr. Justice PATTESON said—lt was vita contrary to
the practice ef this Court to receive certifii ates. If the
Learned Gentleman wished it, ho was quite at liberty to
stets that Mr. Barber, during his absence, had con-
ducted himself well and orderly.
Mr. Sergeant WILKINS Laid there were v eak terms
itidetd. Ile prayed the Cent t to receive Cu se, documents,
as he thought that if it re festal them their Lordships
would not t ave sufficient infermatien to guide them in
forming their judgment.
Mr. Justice PATTESON raid that it wus certainly
quite contrary to the practice of the Court. There
were persons at a long distance, and as there were only
certificates they could not be received by the Court.
Sergeant WANzis ;Aid %bat be sll9uid 1191

tempt to dispute the ruling of the court; and he could
only repeat what he bad before said, that be was only
restrained from protesting against all this inquiry, from
a desire that Mr. Barber's conduct should be fully in-
vestigated. He also wished to observe that all the alle-
gations were out of their Lordships' jurisdiction—that
the allegations had all of them been sufficiently met to
disprove them. These were the whole of the remarks
which he bad to offer. The Learned Sergeant then sat
down, having spoke to-day mote than three hours.
Sir F. THESIGER commenced by remarking that, as
his Learned Friend Sergeant Wilkins had taken up so
much time in his address, he must endeavour to com-
press his remarks in as small a space as possible. Ho
extremely regretted that his Learned Friend had so iden-
tified himself with the present case, as it rendered it
extremely difficult fur him to meet his Learned Friend
upon the ground which he had selected. In the first
place, he must repudiat3 the charge which bad been
thrown out by his Learned Friend against the Master, and
he deplorel that his Learned Friend should have indulged
in the remarks which he had done against the pu-
rity and integrity of the judgment t. which he had come.
His Learned Friend had taken very bold ground indeed
when he said that Mr. Barber lal a right to plead his
pardon in fleing him entirely from all charges. Ile
did not at all wish to destroy the proper impression
which the pardon ought t) have upon their minds, pro-
vided that bis Learr el Friend did not push it so far as
to plead that it extended so far as t) entitle him t ) cla'm
his certificate as a man who had never been guilty of
aay crimes. Theynow tame to consider the charges which
hal been brought against Mr. Barber, in all of which,
though he was :aid to be an innocent and deceived man,
he must be rardoned if he thought that he was some-
thing more. In defending himself Mr. Barber had an
advantage, which had been taken to the full by
his counsel, namely, that the whole materials for
his answers were drawn from his own affidavits.

The LEARNED GENTLEMAN then proceeded to review
at length the different will fsageries with which Mr.
Barber was charged with having guilty knowledge. He
untended that it was almost impossible for a man who,
like Mr. Barber, had been described as " a man of cau-
tion, curious, and investigating," not to have some know-
ledge at many stages that fraud was intended ; in par-
ticular, the handwriting t f the three forged wills were
precisely the same, and that might have excited any
man's suspicion.
Mr. Sergeant WILKINS hero observed that Sir F.
Thesiger was travelling out of the line of the Master's
report.
The Master explained ti a'. the similarity of the
hand bad excited his a teetioe, but he had not made it
the subject of comment in his report.
Sir F. TRESIGER then prccccded to comment upon
the case of Robins' executor. He contended that in
this ewe Mr. Barber had lent himself to the conceal-
ment f Fletcher's name, and he could not have done so
bad he not believed th;..t it was a discreditable transac-
tion. Mr. Barber most certainly have been aware that
this could have been the onty reason for conceelment.
Then, again, to insert Mr. Tarrall'e name i❑ an agre_-
meet of such a nature was, t 3 lay the least of it,
discreditable to any professional man. With all
this fresh in his mind, Hunter was introduced to Mr.
Barber, who without further inquiry takes it in hand.
In this case, as well as in Stuart's, 151. as payment for
legacy duty is charged by Mr. Barber in his bill, which
legacy duty had never been paid. Mr. Barber must
ei.her have considered that it was net likely he should
ever be pressed as to the non-payment of tl e legacy duty
by the persons who were joined with him in the
fraud, or he must still have shut his eyes
and considered this an honest transaction. He
could not clear himself from the imputation of misap-
propriating his client's money, and as such he was un-
worthy of having his certificate issued to him t. practise
as an att3rney. The Learned Gent!eman then proceeded
at some length to investigate the case of Slack, horn
which ha inform,' that to slurp( se Barber ha I relieved
the entire genuineness c f Fletcher's information was to
suppose that he was thither more nor less than wilfully
blind, and had lent himself a willing instrument
in Fletcher's hands. At this time he could no
longer have been ignorant—his eyes must have
been open, and if he Ia I been a fair, of honest a'-
ing man, be would not have proceeded any fart! ee in
such transartton without inquiry. He thought the
Court would see now with the light which had been
thrown upon the train a tion, that the verdict which had
been solemnly delivered was a just and a right ore, and
he thought that it was quite impossible for his Le kilted
Friend to prove to the Court that his client was entitled
to a certificate of practice unless he could prove that this
verdict was an erroneousone. The3e were all the observa-
tions which he had to offer upon the forgery part of the
case.

The Court here observed that as the case could not be
terminated that day it would be advisable for Sir F.
Thersiger to break off here. _ _

Mr. SERGEANT WILKINS appealed to Vie Coin t to
grant a day after Term to Icy tying the remainder of the
arguments.
Mr. Ju: tice PATTESON observed that this would be
impossible he thought.
Af;er some discussion it was arranged to settle to-
morrow on what eay to take the remainder cf the ar-
gument.
The Court then rose at Five o'clock.