The Sun.
London, England, 1850-01-23 00:00:00

MARLBOROUGH-STREET.

Thomas Lovell, John White, Clara Fisher, and
Eliza Bedding, were charged with having been con-
cerned in a burglary committed the over night in the
house of Mr. William Skeffington, bookseller, No.
192, Piccadilly, and with stealing a cash-box contain-
ing 691. in notes and gold.
It appeared that about six o'clock that morning
police-constable Brown, F 142, and police-constable
Hurd, A 85, saw the two female prisoners proceeding
together, in the direction of Waterloo-bridge, and,
knowing they were the associates of bad characters,
one of the constables went up to them and asked Red-
ding what she had concealed.beneath her shawl. The
priioner at first refused to allow the constable to see,
but the constable lifted up her arm and took from
under it a cash-box, which apparently had recently
been forced open. Suspecting that a robbery had been
committed, the;other prisoner, Fisher, was stopped, and
as they were on their way to the Bow-street station-
house the constables saw Fisher take some-
thing from her bosom wrapped in a pocket-
handkerchief, and make a movement as if
about to throw it over the bridge. The con-
stable took_ the handkerchief, and on examining its
contents found 11 sovereigns. In the same prisoner's
possession were some letters, which were believed to
have been written by the prisoner Lovell. Shortly
after the apprehension of the two female prisoners in-•
formation was sent round to the various station'-
houses that a burglary had been committed a few
hours ago in the house of Mr. Skeffington, 192,
Piccadilly, and a cash-box containing 691. in notes
and gold stolen therefrom. The cash-box taken from
Bedding was shown to Mr. Skeffington, and imme-
diately identified. Suspicion at once fell on the 'pri-
soner Lovell, who was occasionally employed in the
house by Mr. Skeffington, and who had been in-
trusted to fasten up the shop the previous night. The
police went to Lovell's lodgings in Peter-street, but
he was not then at home. Police-sergeant West, F 7,
went to the woman Redding's lodgings in Lincoln-
court, and, seeing the prisoner White, who was ac-
quainted with her,, about to enter one of the houses,
he followed, and insisted on searching him. The
constable found nothing in his pockets, but on making
him take off his shoes eleven sovereigns were disco-
vered. The constable then took him into custody, on
suspicion of having been concerned with the others
in the burglary.
Mr. Skeffington proved that the cash-box was safe
in his desk the overnight. The prisoner fastened up
the place, or rather pretended to fasten it up, and it
was presumed he merely shut -the street-door, and
then returned to the shop and bolted himself in.
About five o'clock in the morning the witness Wd3
alarmed by the police ringing at his bell, and stating
that the street-door was open. Os going into the
shop, witness found a desk broken open, and the cash-
box gone. One' of the constables found a small chisel,
which had apparently been used to break the desk open
with. Witness suspected the prisoner Lovell, and
gave information of the circumstance to the police.
Shortly after the police had gone after. Lovell, and
had found him from home, Lovell came to the shop to
ask the object of the inquiry after him. lie was then
given into custody.
One of the constables stated that the chisel now
produced had been seen in the possession of the
prisoner.
Lovell declared his innocence of tb® charge, find

his ignorance of anything relating to the chisel. 55:1—S1effield, Porn
As for the letters found in the girl Fisher's pos- 5 per cent., l GI. Is.
ses.ion, he could not have written them, as he was un-
i Ditto, Pi eference, 5%
able to write.

Fisher had nothing to say, and Redding asserted
1-lat some prson had given her the cash-box to carry,

and had promised her a trifle for her trouble.
White said the money in his slices was his own
property.
They were all remanded.
Mr. SkeiThigtori, with the view of tracing the note,,
or of causing them to be stopped if offered to be
passed, stated that they consisted of two 101. and se-
veral 51. notes, marked for the most part in his own
handwriting with the names of C. Paine, Esq.. jun.,
J. S., &q. or J. Southwell, E.q., Messrs. Smith
and St:arpe, N. 11. Ciitton, Foq., and the Ii v. e.T*
eLicloon.

It wai fortunate the polico me. with the girlA at
the precise triniont they did ; for, had they been a
moment or two later, the box would, no doubt, have,
hen thrown over the bridgN.

ar
3d—York

d Goole, N. Div., guarante:l
and North Midland 184.0.

MARKET INTELLIGENCE. •
(From the London New Price Current, Jan. 22.)
Sue:AL—To- :ay brown and inferior sorts of Wes'
India Sugar were dealt in with caution, still holder!'
genes ally did not accept lower rates. The best refi°il
and grocery sorts were, however, in fair demand, a•
fall rates were obtained. At auction 150 hhds 6 t-cs Para-
tadoe, went readil3-, the lower sorts at rateF,
better kinds at rather higher prices. For fine yellow tbl3
prices obtained are 41s 6d to 435, and 38s 6d to 40s 6u
for !ow to good. The tot cl purct a3es tc-day Were 480
hhds and trc,.
REFINED.—To-day only litnit,d purchases were Oa°
in R tined Sugar by home dealers, and prices Ere droop•
ing. 'rhe value of brown lumps is 505, and fair grOc9s,
51s to 52% In Crushed Sugar net much business 'or'
been d ,no. but prices are unaltered.
*O.
MAURITIUS.— This afternoon less disposition -
shown to operate in Mauritius Suglr. At publics %-
4.919 hags were only in part sold, at bare 'y, forliwto
latt: —good to fir e yellow went tit 38s 6d to 419, I°l/6d
middling 37s to 38,, and brown from 28s 6d to 366
f, e•cwt. • oat
EAST INDIA —This af ernoon the quantity of Bon" a
SuJar sulimi it to public competition was extensive, an
.tm t 16 836 big.. The trade operated with e'st
ewe caution, sod not above 4.000 bags were. 8°143,6
rani e• Loner r,.tra ; white Bemire; went at 39s to
ry 43s to 445, 3 e•low, like Mauritius, 6:55.
3Sa s, f.; 37 to 38s, and strong 39s to 7_4
(If Nisdras 1,357 bags sold at 31s to 31s 6d for Pre
hcown, a el a: 37s 6.1 to 41s 6d for good to II"

Formic:N.-Previous terms are well supported f°fr
bon,i,l parcels, all the business concluded has been °0
a satisfactiry nature fir the time of year, whiltsee
he psi tof holders firmness is apparent. The Pri:ca
ovations are 3,500 bags Pernambuco at 19s 33, s":"Es
600 Mats Porto Rico at 21s. Duty paid sorts bare
be en in excellent demand, and late terms s'o's
sell kept up. By privtee contract the sales are "Cups
boxes liavannah at 403 t 41s, and some parcels of es
and Porto Rico at 38s t 40s. At public sate 599 etas
Porto Rico were chiefly sold; low to fine yellow wentbas
from 37s 6d to 42s 6d, good to fine brown 36s ti 374; yt
s
122. bags 206 eases Maceio were nearly all taken e•
to
stiff rates; good to fiefs white at 41s to 42s 61, led
middling 39s to 40s 6d, damp 38s to 41s, low to gsres
soft yellow 37s to 395, damp 365; 1,200 bags Pells-i•
were ell taken in, low dark brown at 34s to 353 6'14.
dietary and middling soft white 39s to 40$, dal enaS
washel 38s to 395. 370 pkgs Bahia, middling ", doe
veld. e 44s to 48s 6d, washel 39s to 40s 60, good an: ow
yellow 40s to 425, low and mid 38s 6d to 39s 6d, is
to good brown 36a 6d to 38s. 694 pkgs Porto Itic°' go
bond, were taken in, low to middling yellow at 2050e1y
215 61, and brown at 19s to 20s. - 992 chests 11,4","d to•
were disposed of, low to good strong yellOw at 203 "srs
21s 61, and middling to flue brown 19s to 205 Per esie,
Motasses.-There are several buyers of West ape,
but the supply is small, and prices rule firm. Vc'srd for
merara the prices paid have been 164 to 16s 6de a eto
Antigua 178 ed to 18s per cwt. The stock condone theget smaller, and only limited parcels are expected, ffirsent,
present. Bengal Treacle has been sold to tar
at 14s 6d to 155, and there is firmness on the P`•-
holders. d /fie'
COFFEE.-This afternoon Coffee was pure
06'
much caution by shippers and home dealers in I"6.seette
vate contract market, and prices were further dePres-oit
The nearest value of good ordinary native Ciereaski
60s to 61s per cwt. At public sale 62 bags ettur,s,s'sbj
Madras were taken in at 65s for fine ordina Ye"" sl6.
but 24 bags Plantation Ceylon sold at 64s 6d to 6"'
for fine ordinary, which are lower
noteates. ,
COCOA..-To-ddy Cocoa was so much in 0;0me 1/
At.public sale 128 bags Bahia and 657 bags Guls'Veis
were taken in at 36s to 36s 6d, there not being "'"
within 2s to 3s per cwt of these rates. a a for
r° °
TEA.-There continues to be an active de rte.'s
Green, and previous advanced rates are well suPPIO
whilst holders display firmness as shipments fr°ll" soed
are limited, especially of Hyson fit which the de- ere
is the mo.t active. For Black former term
sustained, still operations are upon. a less ellefidst
scale, but ord Congou cannot be obtained ,:ster
100 per lb, still the market has been more free'lf Tee
el ed. To-day the public sales of 9,550 pkate'4,%res°
went off flatly at rather lower rates for Black, 0t1" sod/
realised fully former rates. Of the quantity °Ores- Oor
3,200 pkgs found buyers; for ord and good coines°'
gun the rates taken were 10d to 10.11.' bi
Rsee.-To-day only limited purchases were 'll4lO
srivate treaty in East India, and at auction whits
Bengal sold upon rather lower terms; good mid
rather yellowish went at 9s 6d to 10s. rri
SPIRITS.- Of Brandy there are are Hale- tes ere
still holders have confidence, whilst the rates !b.. sher`j
equal to last week. On the part of the imporeissie
is also confidence. The value of Cognac best bt
the vintage of 184$ is 4s 7d to 4s led, and 1847 dittoslt!
to 5s 4(l:per gallon. For Geneva th re is a brisker "40s
IS 9d to is 101 for common and at 253 d to 38 for 6°°',oll'
terms are required for British Corn Spirits, stilirs°,:4lol
tions have not been upon an extensive scale. s-r 00
there was a good demand fir Runs, and price' tiles 4d,
the advance. Sales of East India were usimle at i srte
to Is sd. proof Leeward Island is sid to Is 6", ,
strong Demerara 2s 3d to 2s 5d per gallon. sligeo
2s 7d to 3s fir mid and good brown mouldy 4°004
2,8672 a: -7dTfe;rdgayo
good
dt
mid;auction
6 cBtifea3c k2agbeasgMs......oafee
sr0701)41:401
therefrom. is Id for shrivelled, is 9J for mouldYS"
at 101 for wormeaten.
COCHINEAL. -This afternoon there was less wearde°lPi
fir Cochineal, and the public sales of 280 bags ,its
to 2d under last a e-k's rates-Honduras silvers re;,, the
4s Id to 4s 6d, and black 4s 3d to 5s 2d, but eta'
whole sold.
was .in OSA
SALTPETRE-To-day there less SC Oaf
market for Saltpetre, still lower rates are not nil se
t s At public sale 1,246 bags Calcutta were PeP2ss 69
taken in at full terms-refraction 2)1 per cent.cW r
to 295, 41 ditto 28s 6d, 7i ditto 27s to 27s 6`"
ditto 26+6d, but 5i per cent. sold at 27s 6d Per
good mid. tbr
INDIGO.-For auction on the 12th of
whilstbefeonrmemr aaddevanbcyed
quantity of East India declared is now 11,Y0e7b9reutrisrl'6e1;1"
holders display firmness„ and purchases toed bOO.
tent have
ported, and some parties are not disposed to sal price;
dealers,
saerneeFor Spanish orders continue to extend, au Gaeta
shraiptespersarearivr:lll spOiPe:
looking up. To-day at auction 84 see 33 gd
mala ludigo went at stiff rates, and realised a
4s 7d per lb.
concluded on the ape t, and holders appear
TALLOW.-In Russian there bas been lessbo le°„4
to 0. 386 7
disposed t slealise. There are sellers of fine P , ,
to 39s per cwt, and only moderate purchasesraserY'r
made. The amount of business concluded for "e oree°;
last three months of the year has been of little %es Jo
and 40s 3d to 40s 6d is the value, but ooetiteurilsi3 st
sire is evinced to press . sales. Home 03 rtillb
quoted at 41s, subject to the usual allowacee;ool‘
good demand exists. At auction 426 cks-P„eat, 6d, 1° to
Tallow were in part sold at 37s 9d to •,°,-5, 9e,s,
36s 9d to 37s 6d; 142 casks Soap Tallow " oia
35s 3d; 12 cases: E. T. 38s to 38s 63, yellto 38s
dtb
to 33, 9d; 295 cks Sydney, good and fine 37510 so'iS
superior 38; 9d to 39s 3d; 658 cks and SO, end gPos
American, good and fine 36s 6d to 383, fa'theSsiief/
34s to 365, and low 33s 6d to 34s 9d per cat% 06-
rather lower rates. For suction the quantity ° aej
declared is 1,400 pkgs. eOOl-1111 od
OILS.-In Olive the aMount of business se 00',71,
ha+ been upon an extensive scale, and prices' 'irtitcess
the advance.. The latest rates paid have been bpi sal
to 511. per ever, whilst on the part 0' Oil seat
much firmness is apparent. Linseed s °5ll
bein less in demand, and crushers rrn to leg
disposed to realise, whilst prices have falh'e-isi's ;id
to 31s 3d per cwt on the spot, still on the ws-sester",fti,'
ameunt of business has been concluded by, ell's- door'
siS°
home dealers, but the production continue-doh-0
Rapeseed Oil has been purchased with more frts4l'ooll
prices are firm, pale has realised 425, brow° 41et's rsusi
and foreign 43s to 45s per cwt; whilst there is .t &OW di
larger quantity on offer. With Palm the risarke' re'
to be moderately supplied, whilst there are Or! iJ
purchasers, and fine realised 32s 9d t° 331;01° to
Nut Oil is held with firmness, still the f teoso
not so goad, and 35s to 36s is the ssltis°lol (0011?
fine quality, but the quantity on offer +0
of late. In Cod Oil the sales made have "-‘e Or 019
at 301 to 3J/ 103 per tan. stlll there are net till joiros
Purchases to a fair extent have been tai'sortie,:sed
Seal at 391.10 s to 401 per tun ; other V' 0
On' all d
been purchased with caution ; straw s•
351 to 381 10a, yellow and brow-hese .o_,e
34/. In Southern the sales made sc,aliseSslfr,
limited, still holders are not disposed Ws's so
ask 31/ to 331 for low to good, and 331 1-100
fine. For Sperm thesmasket hatels quiet *Zi FeLttif
desire is evinced to sell fine•at 821 to 92i ri V
With all sorts of Fish Oils the market 14.304
supplied shortly, when 'the real state of ri
put to the test.

_____.....-' wit°
the
BIRTILS. •Aze,
On the 17th inst., at South-place, ICnightsbri— - rlO
of James Taber, Esq., of a daughter. sercJob. fS A
On the 17th inst., at Connaught-terrace, P" -.
~.0, .".
of a daughter. ter s(l°P. A
On the 19th inst., at Ebnry-street, Clio- - '-ii
wfe of Henry Charles Scott, Esq ,of a son. prbai* 4
Durban
On the t9th inst., at Old-park, county o', ,
11a19.1
s
lady of Henry Spencer, Esq., of a on
On the 20th inst., at Brompton, the. le°
wife of C11$1."
Esq., of Chancery-lane, of a daughter. Pr
Pi
t_. 04
ARRIED.
On the 15th inst., at St. Aldate's, Oxford, tie sp4,7yr
William Freeborn, M.A., of Worcester Colleesitcy
mit
minster, Somerset, to Emily, daughter of Ge°rge
Esq , o Oxford. a. ge ' ,ji•
r
On the 16th inst., at llathersage Churcb,rtioric Pr
John Clarke, M.A., s.n of the Rev. A. ',he 114 e
Enniskillen, Irel nd, to M tilda, daughter of oe
Shuttleworth, of Hathersage- hall, Derbyshire'

----:-------- "SID
DIED TWO 0
On the 18th inst., at Brook-green-honse, ,-- -..., jit
Mrs. Ann Gray, aged 86. 001—
On the 16th inst., at Park-street, Dorset-4 lOg'
cl•Pitli.
Mary Grosvenor, aged 72. Port's° Of or
GillaOennangaathrh;gyrelLriitcgithtoinfBlttneaanittarytne, eCamuaniapnt°aynint..ysEreelt‘'.l:434Wllel4l°*:lll3l'
Monti eal, Canada. 'tire '-
4
On the 19th inst., Mr. James ifoon, of the •jo.
Al
Godalming, aged 78. „; toll, o°4
On the I9th inst., at Llanover, Mrs. VirsuAlaosfet.ri,ad
BheernjEamxeinelleWayddigto'n, EBscit;:ise°l;,-;.1 °-•
Dri
relict
ef
pt.
i ci i 1
mothert.,eot fh late
of
Hall, aged 79. 'lc
Madame
gent")
tehl.e9ltahteinsjate.,oautGtheeorlg'aerei3ornyaagnet,,CEhsqa.t,haagrlie a, S.

of
; Printed and Published by i „,n •••
•-• tf
112, Straw.{, Printers
a At
..The Stu«1" co
Strand, in the Precinct' •t the Sf7o„
Wednes.lsy, January 23, 18°"'

.il° the - SHAREHOLDERS of the YORK,
NEWCASTLE, and BERWICK RAILWAY COMPANY.
Gesitlemen -So long as the questions existing between the Corn-
aeharelY and myself' were pendins for decision by the legal tribunals of
country, I felt that( had no alternative but pa lent submission
e'" the hnputationse ast on me, ansi that I must wait till the trans:
!ellen, giving
rise to these questions could be calmly and impar
eiellY dismissed, and a judicial decision pronounced upon them. The
4gertilteerurs'nt which'
has
now been coma to. for the settlement of those
ea
having rendered such a discuseon and such a decision lin-
Practicable, it may be permitted to me to make a few remarks on the
lfhlch P.Geeedines which have been instituted against me, and en those
have been. threatened.
in
see proceedings acteally,taken against me had relation to shares
sue larendling junttion. Railway, and in the Newcastle and
seesilwick Railway. The proceedings centemplated
,had ref.
beystriets in the Sunderland Docks (beyond the 3,000 soares satitreltnicoenetdo
Co e Company), and to a quantity of iron rails purchased by the
alPany.
rAnd, first, as to the Brandling Junction shares, At a Public
reeting of the Company, held on the 4th of February, 1845, it was
etaaePeledtehae these shares should be given to me. No opposition
pieeecrs,a to the proposition and a resolution was accordingly
leaving finding to the disposal of t e Directers with the
should
anderst on the part of every one present 'thatdthefy.
aectidd be presented to inc. They were accordingly el art
eeeents_any of them were subsequently given by me to pies whose
ee„„-nenc.e had bees' valuable to the Company. It is, of course, im-
krulle for Me fryer recount the services which, in the opinion pf
tashareholders, eso important as to render such an applies-
eaet;! of the shares due to me ; bet I may reirrirk, that I cannot per-
et the should attach to me for receiving shaees pltace.c.
etardsil disposal of the Directors, with the expressed intentihonveohereen
re-
able services prevlonsly reedered, and then thought tho
Co
airy
erma 'e I :lever imagined that four years an erwards t e p
raute queetions of a mere technical character as to the mannert
Nshlee
teat their intentions had been carried out. I had considere,
te_ every shareholder would have felt himself called upon to sustain
3tdecision of the public meeting of the Company.
had 3;ersiebt to the shares in the Newcastle and Berwick Railway I
Wer,'eaeleell to be equally free from demist or question. They
thee eriginal shares in the Company of which I was the originator -
4( aid not exceed the number for which I had executed the sub-
set PtsY)ll contract-they were the shares for which, before the pass-
keit tile Act sf Parliament for the formation of the Company, I
poled myself responsible, and Which I eculd have been eorndi-.
eeaZt,
_take had a loss resulted. My getting them in ndothireay other
searil the number to which it had been publicly state. ,
thee 1.6 ders were to be entitled, and et ere one o
tbeeeived. It occurred not, therefore, which
to meshares that by reedit'-
metal este shares it would be imputed to me that I violated any
Meat obligation : and I cannot but perceive that had the
shares
received remained in the coffers of the Company, it
eon have been far more easy for the Committee of Inyeetiga-
-1,085 to
./etee
recemmended the adoption of measures for the pur-
-10 le, ?er eernPeUing me to take them up, than they have. found It
et ereeeeall upon me to account for tee proeeeds of shares HI reispecet
tikeet'bil Phaa incurred all the responsibility. I will not en atirigf
4Well c Powerful opposition which was encountered, eor w
ley
di Upon the manner in which, and the sacrinces by which, under
Iterrsirerteion, and by my unceasing exertions, the Newcastle and
ell la ssallway Bill was carried through Parliament : when passed
,th_Mitted the labour I had undergone-the anxiety I bad suffered
teetr'seacrifices I had made. I executed the identical subscription
.
elm tact to which the names of the other shareholders were affixed ,
This ae Considered that my right aas defined by that contract.,
ute litigation
has beets denied to me, and formed the second branch of
ellise"tien in V Mich I have been involved.
fosetae respect to the Sunderland Decks I may remark, that their
tb te."ea was projected Wore I had any connexion whatever with
eoesen'a of Sunderland : that their completion was of essential im-
torepec, not merely to the town of Sunierland, but to the railsney
tesee'ea7, Posseesing as it Roes all the lines of communication. with
Iseeeee°e-ka• It le unnecessary for me to point out how much
.!Ineles eePaenY are likely to be benefited by the formation of the
Leeir ',ast the extent to which their traffic will be extended and
ticleraebejeaue improved by their construction, as these con-
ere"a Must present themselves to nof every one.
eke becaine connected with landSunde I subscribed 2,50.51.
e sues these docks en my individual account, that being
kopert/ eWhich my connexion with tile town seemed to render
eroerte. sue Railway Company-subscribetoor 3,000 shares. Iu the
knees:- ef the works it appeared evident me that to ensure thcir
the hsaillnd en ectual completion a further interest mast be taken by
!le eLaY Company, and it seemed also that it was the true policy
th:pee'lnleY to encourage the rapid completion of the works, tor
`et eenee"waY Company the increased traffic on their line afforded
Neel teentiY of a return, independent of any dividend to be received
oehaeiimer shares in the docks. In this I did not rely on my own
fps tim alone. but consulted two of the Directors, present with me at
elleae e, end the step we took had their entire concurretfce. The pur-
lions, Of 2,345 meet:nerd shares was the result of these delibera-
eilretaerl the shares were reeisterea in the names of three
Net 0,11. of the Railway Company. To me there was no pries-
reearverect or ind,rect beneti ; colleagues and myself had
:WY to the intereetss of the Company. IR this it is net
sift I ealed that we exceeded the legal authority reposed in us
ere
el°43 cues when we considered it important that delay
kid /,‘ aVOidell -Parliamentary sanction ne doubt was requisite,
eeseee all former cases was obtained-the result being that many
lee' 134v4geous arrame,ements were carried through, which shad
leleWectors shrunk from a miming this deseripti n of responsi-
tile% er!'er would have been effected at ail. The purchase of
;tireean
to shares would have been legalised had not the appli-
e NavinLa Parliament for that eurpose been postponed, with a view
.egheePerise by embracing other objects in the same epplica-
Zay eneseese are the el reumstaaces under which it is that the Rail-
eeat tee"eally have refused to recoenise these additional shares, and
eels reel hold me accountable for them, and this too. at the very
'ails,' eon-Many leave ratified the purchase of some West Durham
eke, " Shares taken by me in a similar manner, and with the
sbeee ace of authorit • the only eifference being that it has now
'seise eseleht advantageous' for the Company to retain these latter
4ssi L„e„
Coerced y
ha
speaking, the responsibility in respect oe these
vex aes may perhaps be cast upon me, but, if this oc so,
able iset'llerebolder must feel that I have been guilty of no dishonour-
el) and that my position is a hard one.
er °foils •
toe au Wing are the circumstances under which the iron rails
poked to the Railway Company, the only other subject of
Zinn i)ele't„eloPlated proceedings. In the month of October, 1844,
v,'"' was low in price, I thought a speculation in rails likely
11,assrs.eeeeeasful, and made a contract for a large quantity with
erereeatelnien and Foran, of London. Shares in this specula-
t ge'.ffeeed by.me tomeeral private friends, all of whom de-
ng letion r to incur the chance of loss, and the specu-
eerriteeCaled My own: at this period the Newcastle and Berwick
leeeeed, e„eereseany did not exist. The price of iron afttrwards ad-
seeceet Zee 1, like any other man, was surely entitled to the en-
inders
w"ortn of my own Wen. In the month. of March, 1845,
esealene, ere Publicly invited for the supply of iron rails to your
seeks s, and they were' accordingly made by some of the first
s'elloirean the ken trade, Including Messrs. Thompson and Fors
ealteeph.litalobtained the contract at the price of the day. They
were ,he quantity comprehended in their contract, partly by the.
bite their own rails, and partly by the delivery of the rails
rse;tte's held en my account. This transaction is complained of
it:settee. et Proriety and perfect , galy I neer en tertained an
;el--„er eee ebtaipned no more than 1 I,u
the arketv price for my owny
ieteineeieelY theirs. rate which Messrs. Thompson and Ferman
-Dell 'or . If not one single toe had teen
the * by
lien% ? rue, what • would have been the cense-
s'ea the'lessrs. Thompson and Forruan would handdnee Whole quantity out ef their own stock, the
e%et•tblzen'aYe paid piceimely the price for the iron which it has
kelpie, • I ITU in no way benefited •by the transaction with the
4%. itlTer I could have procured from other parties the same
e %Spit 4 no dubt i
said that it was in rne to iron to
of whoich I was a Oirector butllegal I do not believed that even
te Abelt transaction could he held invalid, for all that the Lego-
teeeetisttse done is to vacate the office of a director concerned in
e Atto;'t with the Company. My case, however, occurred before
441. 11l I arliarnent was passed, and its previsions, therefore modi-
r have shown them to be, have clearly no application what-
ele Matter lee ser re, ,
eeellaitme'te detail it is necessary that I should explain why I have
tie,,ls seer 0 Pay a sum of money to the Company. When these.
'reeery.e first agitated, I submitted the whole of the facts, with-
AV edyee,e'r qualification, to most eminent counsel,. by whom II
ten leyeeee.teat no legal claim could be established against mfe.l.
Ate thee strongly opposed to any compromise whatever, ee irhig
eteleLaetest,etteeh Investigation of the facts must remove much of t e
yeeles pad been exceed again.t me. I was Wormed, however,
ly Aee in
wnrf hom I placed' confidence, that the questions raised by
.Ix, - th Company would involve me in years of litigation, and
to, sty. e cause of enormous expense and endless annoyance and
11ILIte merits adyised that legal and technical questions, foreign
lies' eel. e's`a'ol the case, might Influence the decision to be pro-
teeaeliee eaa I could not' but feel that, when even my title to the
eisl'ehliel'atetlon shares was questioned, though it rested upon
ee to eisr.recorded vote of the shareholders, it would be idle in
peeeeetelee
ed. lu craneo Melfsptiri that the proceedings throughout would
b,. simi la ysr
.
ot ing_ to considerations, I have ascented to the arrange-
seeeeeeagebas been conic to, and I have also thought it right I.
ta_%, eee • "Vessif the entire responsibility of the Senderland Dock
to relieve my colleagues frost all liability in respect of
IttaZe la Yet
18,,..1 another charge which, although it does not involve
teeleieresPonsibility, should still be adverted to. I would not
eetei the the scrutiny to which the accounts have been subjected,
keep e,Jeur with which they have bees examined, neither do I
%eke veeeeerulg into details, for I should then have to discuss the
Vet t, isels and still unsettled question of what charges really
ill +set carried to the capital and what to the revenue accounts,
eeeitiess tole which no two men think precisely alike. Every item
Toire a .na're been improperly carried to capital would, in fact,
teelaarate examination.
r
SZe gea seated that in the aggregate, 107,3711. 10s. 10d. has been
, valet' oht to have ged
ts4al3 teeel: to thecapital close of the year 1848; and itchar is addedagains that,t 1144.orls,e,aerne period, the traffic has been over reported to the ex-
leas, h"e lne. 7d. Of the former sum, 17,9581. 15s. bd. occurs
tbee a,”el of Interest paid on Debentures ; and when I men-
bse,efes 'fine the whole period of the formation of the railroad,
leeellreine'allehes, this is the only sum which, in the shape of de-
tileunt ,e`e,reet, has been carried to the debit of the capital account,
eitreegueirarlation cannot he requisite for those who have regard to
tOreeseliereuele ol the,operations of the Company, and to the extent
rreellaie,,,eaetive works. Another portion of the sum which is
dace not 01 consists of 59,8111. 14s. Bd., arising from the hate Di-
ll. hid' 'eying charged some interest which, although it might be
e44ltrieettelot been actually paid, and not having charged some
11004, netsebills, afterwards collected by public advertisement, and
e'erell 1;0,7e/tug at that time been sten by those Directors, could
inas ere le eaallirehended in their financial statements.
tleae%eestill a balance of 29,1,01/. 08. 9d. to be accounted for, spread
nraellee to half balance
irs, much of it depending upon the propriety of
leeeeilliekeeeaPital the cost of repairing the engines and stock of the
he' ill Otaction, and of other Railways, deivered to the bur e eld state of iepair and which it was necessary to improve
I,;tilere•/ collid be used on the lines of the Company. There may
feeel %bees doubt are-some errors In the published accounts ; and
14tstiati:ePress my hope that the report of the late Committee of
"testhen may be examined with more indulgence in this ro-
te,. esee_
isi s been extended to the former Directors. In the report
enettee the Railway Company is charged with the sum of
err
setae
as still due for the moveable etock of the Ilartlepool
ele„s
itti'r of ee "esee although it had been paid for souse time be fore:-
or osi,dr' duiLghtt ak magnitude, and yet one which, I freely admit,
ate, theMise,
soete rn tieel.-estimated traffic, 3,7971. arose from an over-estimate
ISeelt_ins,O due for the conveyance of the mans, the accouuts re-
et ,4 had News,
jtbtelilece not then been settled with the Post-office. This
of 10,7551. respect of which I would ob-
-40. el %lige tr l'Asi always been the custom of the Company to report
t on Anie, uP to and i ; and thus it tha
tati c
tee ed sea se. the ratlway,luding everySaturda publishey d account hasis, const
sysnt emotional part of a week properly applicable to the-
' tel cave:elle ;* Whenever the year closed on a Saturday the ae-
'ileet Naos al:we corrected itself, and thus all cavil have ceased.
eeose/thleh itlaiett title part of the subject without adverting to the
iret,'ct,' been advanced against me, of having swollen t le
ee 'baserenlPais's receipts, with the view of advancing the
teqi ith s, ef
ke eslll increasing the rate of dividend, and of adding to
teentireer Peeseharge of unquestionable importance, but, fortu-
le`ell -NleCte"ne noon no solid- fewadation. During the period
sdi Au 1 the accounts, the receipts of the Company from
pees nee ningie a
eeeest:ss,e• Ils, 2, 5 published by tile Committee, have been
,-reurtee trairie a sum in comparison with which the alleged
tel'itleee say et, . of 14,51,21. 19s. 7d. sinks into utter insignifl-
th.7ipinesste..mlng of its being far more than covered by the nu-
ke ere,2s, Tdrnitted, on the same authority, to amount to
the leeesnieny e__ u addition, I may observe, that the accounts of
teenst en'eee,e not been credited with the very large item due
aceleitaerld, ~'4IIB arrear, although they had been debited with
o lochs in
on the same shares, a circumstance not very
1 seals. e occurred if it had been dended to publish inflated
olue
to ee he ea,
eteee fse vela over unnoticed the depreciation which has taken
kessas eoe,en
en of the shares of the Company, and which has been
epee ieeroreeee! deer. regret. Oa referring to the former value and
this
seel!A she thares in the other great lines of railway, it will be
er eiseeelensien has in all cases but one been greater, and.
lepie'etiey. 'aces much larger than has occurred in the Metres of
otqension •
err tea any is to be ascribed not to the conduct pursued by
es n'h indiv'd 1
ties eise",s e of ua , but to causes affecting not ose 01.4
141,114'1% N..'" existing railway. It is owing to the lonization
teletee,,So ibieee.of railway-the undue weight attached by the Le-
tter: siee,e essebeensd lengths regardless of enhanced capital-the
Pee elloisee teen-lent of branch lines-and the insufency of the eetteielleete,ea en Parliament whenever the competition of parties
nteetileeent this sw
eelenetteeleSeeeetlatene I exerted , myself to the utmost. I pointed stirtteeep sessces. hat would result from it, but I was unheeded.
te 014 dist': earnest away 'by the specious outcry for competition,
els aeltsajps, and cheap fares ; and myself and others corn-
we btnee to adopt to some extent the objectionable sys-
beer' eo.,"ee tie no no strength to resist. It is something to reflect
ee eiete,"rueeq Untoward circumstances, the lines Which have
nelanitteeeee of and the arrangeenents which have beck made,
cep te eneofLima cheracter to receive the condemnation of the
,n
at,e ea establishedo a th system of manageasent
n a
has notd beent foundthe capable of substantial
eea44ll-I.4"edi for
'All% Of el treee state of things is, I hope, to be found in the
aced torte„ 4rtic•:"4 PePtilation of the country-in the diminished
br in use on railways-in the greater economy of
heee toe resh 8 nt
ford
1, se chemo te,r.
their erience.may suggest, and in the ab-
ief,tokeeeilreeewl I would obsetTeetxhtaetnslieantn.
aware. that transactions
tile,444°4elatibieh are to be regretted, but en respect to which. it
eV's tr elletat -an to see t
tth,4118,04 „c.v._ reflect that the Company have in.. no
ti`hri.lll'Y 0 L'ils nears toes. Allow me to ask you to res. low
se Neel eeerrea sortie remembrance of the excited period in
tise reit, ane of the multipileit of concerns which I had to
eneaLlbli:44the ilitirlt-...,0‘.f.the brief opyportunnities I had for reflec-
e aties eeeeriunitY Of my giving sufficient attention ;to
tveil-ivy, take e private
,matters which then claimed my
'lliti!erreet leave
s _e eeeeneektiee of this painful subjeet. Ido so with the
nieeeell at one, in Zi_oef. the soundness of the undertaking in which
eteeTedeeeeeetlwit e I continue to retain a large Interest, and
1411 ;ate errseor its future prosperity. I disclaim all ani-
-4,1 uicise who aqsatt,have shown me the least considera-
" /'sjiere Ge, 'teethe'
Vitiz 44rY, 1850 ur very Obedient servant,
GEOIWE HUDSON.