The Sun.
London, England, 1868-08-07 00:00:00

£1,000,000, under the power of the recent Act
1865, and with the sanction of the Secretary of
State for India.

The proceedings concluded with a vote of tracks
to the cl;airtnan.

LIABILITY OP .101 NT STOCK COMPANY

MANAGERS.

(From Me Anglo -America:4 Times.)
It seems to be impossible for the promoters and
directors of Finance and Joint-Stock Companies to
do anything in an open and intelligible way, excel'',
pocket coin and leave " stuff" to the defraudea

shareholders. The only case of punishment ovrr-
taking any member of a body to whom England
owes a commercial Mille that would be offemive to
a Turk, and to whom Englishmen for it have paid
scores of millions squandered, was Mr. James
Freeliug AlTEkinson. By some slight of hand,
aided by an influential newspaper, he got out
of gaol—nobody knows why. 11 ilkieson has
beea in the habit of making hay while the
sun shone. Ile made whole stacks during the
mania at an expense of two solid Millions
of gold to the unfortunate shareholders of the
Joint Stock Discount Company. The management
was iniquitous, involving an awful amount of ruin,
but Mr. IVilkiuson can think only of his own ease
—there is no thought now of the horrors he spread
abroad while he lived at Brighton like a Pasha of
many tails. No doubt the contrast between that
and a convict's cell came forcibly home, and we could
feel compassion for him were he not in our mind S
eye face to face with his crowd of victims. Among
the Parliamentary papers just issued is a petition to
the House of Commons from this gentleman pray-
ing for relief. He recounts his own early
history, which is doubtless very interesting,
but what is more to the point the history and pre-
gross of the company. He has been totally ruined
by the confinement and degradation, and so re-
duced in eireunistanceS•as to be dependent on the
casual aid of his family and strangers for the
means of subsistence ; he seems bitterly to regret
" that he is without any remedy against anybody
for compensation." Has Mr. Wilkinson the small
amount of imagination necessary to picture to him-
self a family ruined through his instrumentality
pleading in the same strain ? Does he suppose
that two millions of pounds sterling can thus be
lost without bringing awful suffering in its train'
but he forsooth, the prime author of the catastrophe,
is alone to be heard appealing for national help.
Lord Romilly has ordered the liquidator to a'
tinue the action against Messrs. Capper, Escornhel
and Lawson, to recover the £4,000 ; and in its
course further evidence may appear to exculpate
him, or to show the substantial justice of his sell-
tence. In the former case he will be entitled to
compensation, for in whatever light his doings may
be regarded he will have been innocent of the par-
ticular crime for which he has been punished, an'
such an end will be in keeping with the Wiael°
course of the commercial crash.
The Credit Foncier of England held its meeting,
and as usual there was much talk and little action'
It appears to us as a rule that the greatest asses among
the shareholders are those most ready to speak, and t°
our mind it accounts for the loud braying when tile
donkeys come together. It may be taken as rill°
facie evidence that a man is an ass to be in such 3
company, but we have all our little weaknesses, an
high dividends make a wisp which will coax mangy
a donkey along, and one we confess, if not wit,
shame, at least with sorrow, to have led us on ho
sharp trot. But to return to our subject. r-1-b .5
chairman, a newly-elected director, who took
seat with clean hands, was able to talk plainly, havieLgo
nothing to conceal. He showed the nature of tu,
transactions, and the motives that influenced the
rectors. He strongly condemned awarding eentret,iii%
sions to the managers in proportion to success, as
temptation thus held out was too strong for burn.%
nature. When this century commenced a star` -7
child who stole a loaf was hanged, and that's%
the fate of a mother who purloined a piece of n3e3
to keep her children alive. But it appears that 0
body of directors, one a right honourable and son,„
of them legislators, are to stand excused for trau'e
actions with the funds of others they would 113,:n,
turned from if dealing with their own monel,;;s
cause the commission offered was enormous, anu„-ts
a portion of it went into their own Peery,
therefore beyond human resistance. In plain .to
guage they were bribed. Nor was the transaet.i to
confined simply to this. Had they taken desPiel,'„
hazards, and made a fair division of the plun",e,si-
although they could not be excused as men of 'P'ese
ness—the affairs would not have had their :jiff,'
questionable character. But they left the
to those whose money they squandered, and
took the coin themselves. They swallowed jog
oyster, and, with a great parade, a riV.
of bells and sounding of gongs, wituthey
flare of gas, and a display of plated ware' "tbig
handed the shells to the company. But even, tee
unsatisfactory banquet has of late been deniet'
poor shareholders, and the principal performer
sented himself from the last meeting. Nothing,ere
mined for his capacious maw—the oysters S'
all gone and the shells were there in a heap---" bo
%y
retired, leaving the new man to tell the
what was in them. The patient and long-enuttor3
animal appears to have been pressed too far, for ifee,
are back, itlooks vicious and seems inclined to .01.1,`jog
but whether a little (director) patting and tielPe,,,
may not mollify the beast remains to be, sea,-
Messrs. D. and S. Woolf', 17, King-street, Cbek
side, announce a meeting of those shareholders
3 oy,
sirocs to investigate the affairs of the colllll, of
when we suppose they will follow the exarnP's'av
their French prototype, in at least so far as to fel ej
the directors refund the sums to which they he 1) et
themselves as commission on profits neveiri do
truth earned. Some day or another we wl bids
our best to explain the work, for doingof
Albert Grant, Esq., M.P., received a sabnea
£3,000 a year, and over £72,000 in conull
why he was smiled on by foreign princes, an et
corated by kings. If the shareholders who we col
the call of the Messrs. Woolf (Wolf !) —by thecae'
an ominous name for the " lamb" Grant—aver tb°
tent to accept the chairman's explanations t''n
poor directors were tempted beyond their strenet
and there to let the matter rest—we will red or do
Not that we care whether these gentlemen dmni agaiaj
not retain all theygot, but because the days
come when other directors will be sorely tempt ore'
the example of the Credit Foncier will not
a case strengthen their resistance. Success to tb°
rages—and punishment deters ; and we re i 1
action of the shareholders as having a public.f it b°,
rest simply from this stand-point. rifie Al`
one, lies in the misrepresentation which mar' orb
the early reports of the company, and did, so
to demoralize the investing public. It led eofir
dreds on to ruin who never held a share in the iron'
pany, and produced even more unscrupuln? etero
tators. We doubt not that many of the difeeruel3t.
were themselves deceived, although the stne'e eriP
of the chairman is against this. But let tlis 1703 ft
be fairly tried. and if it appears that they 05 tbel„
acted in a bona fide way for the interests
.alea to,
ou
employers and of the shoals whom they entfto rllO,lll
the numerous undertakings they floated and thou e t
—then let them keep their commission,
all b
their work has ended so disastrously tn
themselves.

Births. 10103,
BEciimt—On the 3d inst., at Castlebyde,Ferylo'
~, 111'3
Lady Emily Becher, of a son. tliA''
CONGLETON—On the sth inst ,at Hill-side, Streit tba
wife of the Lord Congleton., of a daughter- dep47
HOGG—On the 6th inst., at 24, Grosvenor-gar

Hon. Mrs. Hogg, of a sun. . •
Marriages. cybOloic
BLUMBERG —BowoRTD—On the sth inst., agt To Igjelitr
C. N. Blumberg, Esq., barrister-at-law, °' ,i-t dfLuPse
tTeermopfle,CthoallrlleasryßEollilz.oarbteh,
Esq.,
rlingeA licu '
of Brokb3.
(410'1
Brockham, Surrey. at I; itt
BRANDRETII A RBUTIINOT—On the sth inst',• to Pil t
Arthur Braudreth, of the Indian Civil Servlrv,tito° '
Charlotte, second daughter of William U•

of Bridgen-place, Kea.
BUXTON—On the 4th inspt "‘tvilaTthnmst w 11°13t.13°1°Ill
ai ice,
Esq,:je.apa.:nlahtaello-fstrNeeotr,bLuornyduono,:sge:l:9:re boa
Esq., of 27 r .. ~ at __ .... o ,
.., A 5,
BLAKE —On the sth inst., at Woodsidot She l4°.
BI
EiwclooroNudy:s3R-70End716nt.ohnd
e 4th inst., ot Woodgrean, I'lldaleS elc'
and'
Edmonds, Esq., aged 59.
JONES - On the Gth inst., at The Clock lionsel
wortb, John Jones, Esq aged 64. faVer6'
LUSIIINGTON— On the sth "ingst , at Norton Court, •-at°l3'
ham, the Right Ron Stephen. ltutnbold lA6bl"
aged 94. . AVOO6IiP'
WOODIN —On the 4th inst., Mrs. Alleson *Ann treet'
wife of Samuel Woodin, Esq., of 17, Old Bond-5,
~,,r A fig,i
,
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London : Printed and Published by ViLLLIA-- - 5 go jof
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Strand, in the Precinct of the WO, in the
laiddleSeZ.:—Friday, August 7, lam