The Sun.
London, England, 1845-01-30 00:00:00

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No 16,367,

G
LONDON THURSDAY 5 E E 7 JAN UARY 30, 1845.

PRICE sd.

THE SUN is Published EVERY MORNING 01 FIVE ucLocK, in Time for tite EARLY TRAINS and TOWN DELIVERY ; a SECOND EDITION (Evening Sun) is Published in Time for the AFTERNOON TRAIN.`
and a THIRD EDITION at SEVEN O'CLOCK, for POST, "liaining PARLIAMENTARY and all other NEWS in LONDON up to that flour.

ADVERTISEMENTS INSERTED in ALL THE 7'iIREE PAPERS, Morning Noon, and Night, thereby insuring a TOWN and COUNTRY CIRCULATION, at ONE cwARGE,

PRomoTER. LIFE ASSURANCE and AN-
NUITY COMPANY,
9, CHATHAM-PLACE, BLACKFRIARS, LONDON.
Established In 1826.
This Society is supported by au ample subscribed Capital, and by a
considerable accumulated premium Mad.
Assurances are effected at a low rate of premium, without profits,
or at an increased premium, with participation in the profits of the
Office.

RAILWAY INTELLIGENCE.

that no difference hail occurred, or was likely to occur,
between the two Companies. We have reason to be-
lieve that a slight misunderstanding did exist for a short
time, but that it was entirely founded in error, and was
immediately removed by a frank and candid explana-
tion.—Liverpool Times.
LONDON AND YORK.—On Monday a meeting was held
at Doncaster to take into consideration the projectd
lines, in so far as they affect the interests of the borough,
and to memoralise the Board of Trade thereon. The
Mayor, Mr. J. E. Morey, presided, supported by Sir
Isaac Morley, Sir Joseph Copley, Mr. E. B. Denison,
M.P., Mr. J. Parker, M.P., mil other gentlemen con-
nected with the district. Messrs. Slarke, Easton, and
Sharpe appeared as a deputation from Gainsborough, in
favour of the Midland Counties Extension. The Mayor,
in opening the proceedings, explained that the chief re-
quisite for a line to Doncaster was, that they must have
a main line, with a permanent station, and that it must
not pass the high road on'a level. They had memorialized
the Board of Trade against the London and York, be-
cause it left Doncaster ten miles to the east. Mr. Walker
proposed a resolution in favour of the London and York,
conceiving that the adoption of that line would mak
Doncaster once more the highway between Edinburgh
and London. He contended that the Midland Counties
Exte.:sion would neither give facilities to, nor improve
the trade of Doncaster. Mr. Milner seconded this. Sir
Isaac Morley spoke in favour of the Midland Counties
Extension, but advised the meeting not to give a pledge
to any particular line. Tie moved an:amendment, second-
ed by Mr. Price, that every line that came direct to Don-
caster, and had a station there, would be for the interest of
tho town. Mr. Denison, M.P., entered into a variety of
statements with respect to the London and York, and
concluded by calling, on the meeting to support the reso-
lution in its favour, which was eventually carried over
the amendment, by a large majority. A deputation was
appointed to communicate the resolution to the Board
of Trade.

AMALGAMATION OF THE BIRMINGHAM
AND GLOUCESTER, AND BRISTOL AND
GLOUCESTER LINES.
BIRMINGHAM, WEDNESDAY EVENING.—A meeting of
the Shareholders in the Birmingham and Gloucestcr
Railway was held this afternoon at the Company's
offices, in Lawley-street, "to authorise the guarantee of 5
pr cent., offered by the Directors to parties taking
shares in the proposed line to Wolverhampton ; to
authorise the raising of additional capital for the works ;
and the immediate consolidation of the capital of the
Company with that of the Bristol and Gloucester Rail-
way Company." There was a good attendance of
Shareholders.
Mr. SAMUEL BOWLEY, Chairman of the Board of
Directors, presided, and said that at the last meeting it
was left in the power of the Directors to alter the terms
on which the additional capital should be raised, if they
saw a necessity. That necessity had arisen ; they found
that the withdrawal of the guarantee would hinder them
from getting out their shares, and after due considera-
tion they had agreed to the terms proposed in the ad-
vertisement. He, therefore, moved the resolution autho-
rising the guarantee of 5 per cent. to parties taking
shares in the Wolverhampton line.
Mr. LOVE seconded the resolution, which was carried
unanimously.
The CHAIRMAN then moved the next resolution.
Mr. C. B. Flare (of Bristol), seconded the resolution,
which was also passed unanimously.
Mr. SHAW, in reply to Mr. Love, said the shares
were to be allotted "as the Directors might think
proper."
The CHAIRMAN said the object of the Directors had
been to give the preference to the Proprietors of the
present line.
The CHAIRMAN, in reply to Mr. Love, who wished to
know the amount of additional capital required, said
there was a great deal embraced under the present ar-
rangements of the Board. There were the deviation
lines, as well as the main line to Wolverhampton. Then
the question arose whether the money to come back
from the Great Western Company would pay the cost
of the deviation lines. He was afraid they could not
give any definite calculation as to the amount required.
The estimate, as far as Mr. Hughes and Mr. Baylis, the
surveyors, could calculate, was 742,767/. 12,546 shares
had been allotted, but the Directors were not exactly in
a position to say that all that number had been
accepted. The shares allotted would amount to about
600,0001. They were anxious to reserve some of the
shares for the landowners through whose estates the
line would pass. 200 0001, in addition to the 600,0001.
allotted, would cover the probable cost of the pro-
posed works.
The CHAIRMAN said the next question for the consi-
deration of the meeting was the amalgamation with the
Bristol and Gloucester Company.
The SECRETARY then read the agreement, the sub-
stance of which was given in The Sun of last week.
The CHAIRMAN said he was very much inclined to be-
lieve that there would be very little difference of opi-
nion as to the policy of amalgamating the Company with
those who were naturally their allies. The Bristol and
Gloucester line had not long been opened before the 1)i-
-rectors of this Company were made aware of the prac-
tical disadvantages of working as two separate and in-
dependent companies. With regard to the terms upon
which the amalgamation was proposed to be made, that
was a different matter. But, supposing those terms to
be fair and reasonable, there could not be two opinions
as to the desirableness of the step. With regard to the
rates of carriage, and the carrying trade generally, the
want of uniformity must militate very much against
the interests of all parties. After a few more observa-
tions, he moved a resolution, authorising the consolida-
tion of the two companies.
Mr. HALL seconded the motion.
Mr. C. B. FRIPP, Director of the Bristol and Gleuces•
ter, thought that the board had quite overlooked the in-
terests of the Company in the grand end of amalgama-
tion. That the line between Birmingham and Bristol
should have originally been one line, no one could deny ;
and on fair and equitable terms amalgamation now would
be advantageous to both Companies. But were the pro-
posed terms fair? With respect to the share capital of
the Company, the Bristol and Gloucester were placed on
an exact par with the Birmingham and Gloucester Com-
pany. The Birmingham and Gloucester Company had
been struggling for three years, and had at last succeeded
in working out a dividend of at most from 4 to 4i per
cent. Was it wise then for them to amalgamate with a
Company which had not yet published a single state-
ment of traffic? When the Birmingham and Gloucester
Railway opened, there was a long line of coach road to
the west. When the Bristol and Gloucester Company
commenced operations the Great Western was opened to
Exeter, and there was a direct railway communication
as far north as Preston. The first half-year's returns,
then, would not have formed an unfavourable test
of the capabilities of the line as far as passenger
traffic was concerned. It was not fair to put that
Company on a par with their own. Looking at the
matter as an open question, he considered the terms
laid down in the agreement to be widely prejudicial to
the Birmingham and Gloucester Company. The great
object of the amalgamation was to ensure a more rapid
transit of passengers. He could see nothing. to effect
that object, unless the same gauge was adopted through-
out the line. It must be altered. He should be decidedly
against extending the broad gauge to Birmingham. He
called upon the Directors explicitly to state that the
narrow gauge would be carried through from Gloucester
to Bristol.
Mr. Josten STURGE thought the terms were rather to
the advantage of the Bristol Company, but the advan-
tages of an amalgamation were so great that he hoped
no opposition would be made to the proposal of the
Directors. He did not exactly understand that Bristol
and Gloucester stock was in the same position as Bir-
mingham and Gloucester stock. He supported the
original motion.
The CHAIRMAN-If the line pays 5 per cent., then
there will be 5 per cent. paid on 100/. Birmingham, and
5 per cont. on 871 ss. Bristol.
Mr. STURGE said that put a little different feature on
the matter; and although the stock of the Bristol Com-
pany was very much increased, and the stock of the
Birmingham Company remained the same, looking at the
unfair
motion.in that. He
m
supported
as
nothing
h
e very
original
The resolution was ultimately adopted nem. con.
moilsetagcour'ditahlelyre '

A Bonus in ready money, at the rate of 15 per cent, on the pre-
miums received (equivalent to a reversionary bonus of about 30
per cent.) was declared in May, 1842, on all beneficial policies on
which three annual premiums had boon paid in the December
previous.
A division of the profits takes place every five years, and the hold-
ers of beneficial policies can receive their bonuses In ready money, or
have them applied in augmentation of their policies, or in reduction
of their future premiums
Assurers may contract to pay their Premiums etther in one sum, in
a given number of payments, in annual, half-yearly, or quarterly pay-
ments, or on the ascending or descending scale.
Officers of the Army and Navy, on active service, Persons afflicted
with chronic and other diseases, and such as are going beyond the
limits of Europe, are also Assured at moderate rates.
Prospectuses and all necessary information may be obtained at the
Office. MICHAEL SAWARD, Secretary.

MANCHESTER, BURY, AND ROSSENDALE.—On Mon-
day the half-yearly general meeting of the Proprietors
was held at Bury. Mr. J. Grundy, Chairman of the
Board of Directors, presiding, when the report of the
Directors, describing the progress of the works, and
giving a statement of the accounts, was received and
adopted. The Chairman congratulated the Proprietors
on the improved position of the Company's affairs. At
the extraordinary general meeting, which followed im-
mediately after, the Directors submitted a report relative
to the proposed Heywood branch in connexion with the
Manchester, Bury, and Rossendale. Resolutions were
passed unanimously in favour of an application to Par-
liament for power to construct it, and to raise the neces-
sary capital. The Chairman announced that satisfac-
tory arrangements had been entered into for the
amalgamation with the Manchester and Rossendale of
the Blackburn, Burnley, and Accrington line. The out-
lay on the Heywood branch would be between 60,0001.
and 70.0001.

MONEY MARKET and-CITY
CITY, WEDNESDAY EVENING.
TIMES.— The English Funds continue flit, and sales
have been made, to invest the proceeds in railway shares,
which are now almost exclusively the favourite securities
of the day. The Government broker has not yet con-
cluded his official purchases, but these, though occa-
sionally large, are scarcely sufficient, in the absence of
other good business, to support prices. It is known as
a fact that within the last few days several considerable
parcels of stock have been sold to lend out the money on
the bonds and debentures of some of the old Railway
Companies, and also to purchase the shares of the select
of the new. In this state of affairs Exchequer-bills are
very sensitive, and whenever a sale of 20,0004 or 30,000/.
is effected, a fill follows. A few purchases within the
last week have had the contrary effect ; but while they
yield so low a rate of interest compared with the securi-
ties of established railways, their market cannot be ex-
pected to maintain a very stable appearance.
The Railway Share Market has been quiet, the job-
bers preparing for the settlement at the close of the
week, which seems to be looked for with some little
anxiety by most parties engaged in business at the Stock
Exchange. It is expected to be one of the heaviest ac-
counts ever yet known, and as large differences will have
to be paid, money is already increasing in demand. The
current rate this afternoon was from five to seven per
cent.; but it is thought that before the whole of the busi-
ness can be got through, a much higher value will have
to be paid. To-morrow appears likely to be the great
day for ascertaining the positive result of the late exten-
sive speculation; and though, of course, till it has passed,
nothing can be known of the true solvency of the dealers,
still there appears to be no fear of any serious difficulties
arising, seeing that operations for the advance have, in
most cases, been attended throughout the period of the
account with complete success. It is not with a rising
market that failures principally occur ; it is when a sud-
den re-action comes, and when prices are enormously
depreciated by the immediate desire of holders to rid
themselves at a sacrifice of a responsibility which they
apprehend will swallow up their all.
At a meeting to-day of the North Kent Railway
shareholders, one of the lines rejected by the recent
decisions of the Board of Trade, it was determined,
in pursuance of an almost unanimous vote, to go to
Parliament with their plans, so strongly do the pro-
moters entertain the opinion of the ultimate success
of their scheme. All dissentients who choose to with-
draw their names and subscriptions from the list are
to be allowed the par value of their shares, without
anything being deducted for expenses up to the pre-
sent time, and about a week is given them for signi-
fying their desire on the subject. In the application
to be made:to Parliament, the cost of such proceed-
ings is guaranteed not to exceed 103. per share. A
very elaborate report was read, which entered into
the advantages of this lino compared with their more
fortunate rivals, and hints were thrown out that
it was not improbable, if perseverance were
continued, that the North Kent Company would
be able to come into some arrangement for
perfecting railway communication through that
county with the South-Eastern Company. The
meeting was not very fully attended, but a great
deal of unanimity prevailed among those who took part
in the business before it. In all these cases there are
two sides to the question, and before any sound opinion
can be entertained of the statements made on this occa-
sion, it will be as well to hear what the South-Eastern
Company have to say at their approaching meeting.
Both parties may have great confidence in their respec-
tive schemes, and yet after all, both may be to a certain
extent disappointed. It would therefore be well to weigh
all the different circumstances calmly and deliberately
before such an enormous outlay of capital is made, and
see whether by some proper adjustment of interests the
struggle and expense of a Parliamentary contest could
not be avoided to the benefit of both Companies. The
Board of Trade is evidently giving the chief considera-
tion to those lines and branches which have already an
interest in, or are identified with, the great branch rail-
ways, and properly so, because, as connected with these,
there is strong security that they will be completed,
while. looking to the question as one favouring mono•
poly, a view of the case recently started, there can be no
doubt that Government supervision will provide for the
necessary accommodation and protection of the public.
SUN.—Consols close the same as they stood in the
morning—viz., 994 to par for Money, and 100 to 1004
for Account. Bank Stock has been 214 to 215. Exche-
quer Bills were firm at 675. premium.
The Foreign Bonds were rather better. Spanish Five
per Cents. were 28 to I for February 14 ; Mexican 354
to 36 ; Colombian, 14+ to 4 ; Brazilian, 901 ; and Spanish
Three per Cents., 39i to 404-.
The additional transactions in Railway Shares have
been these : Birmingham and Gloucester were 91 ;
Ditto, New, 91 ; Bristol and Exeter, 3 to 4 ; Ditto and
Gloucester, 14; to 14 ; Chester and Holyhead, 14; Char-
net Valley, 54 ; Cornwall, ; Dublin and Mullingar,
-4 to 4 ; Eastern Union, 54 ; Great Southern and Western
(Ireland) Extension, 41 to 34 ; Great Western, 97 to 98;
Ditto, Fifths, 204; Guildford, Fareham, and Portsmouth,
; Harwich, 4 ; Hull and Selby, 23 ; Lancaster and
Carlisle, 9i ; Birmingham, Thirds, 401 ; Ditto, Quarter,
261 ; South-Western, New, 10+ ; Croydon, 3i to 4; Lon-
don and York, 2il ; Manchester and Leeds, 60 to 62 ;
Midland, 28 to 29 ; Ditto, New, 7 ; Newcastle and Ber-
wick, 114 to 10/ ; North British, 31 ; Northern and
Eastern, Quarter, 5 ; Norwich and Brandon, 54 ; Ditto,
New, 24 4 ; Rugby, 11 ; Shrewsbury and Birmingham,
14 toa ; South Devon, 5+ ; South-Eastern, 14/ ; Ditto,
New, No. 1, 15 to -I, ; Ditto, No. 2, 154 ;
South Wales, 24 to 3 ; Trent Valley, 71 ; Water-
ford and Kilkenny, 1 ; York and North Midland,
57 ; Paris and Orleans, 241 ; Ditto and Rouen,
a2n2d;
Naand Rouen
nt e
,Ipr an
e premium
na d
.Havre,Greenwich
/ have;
been ours
14
dis-
count. London Joint-Stock Bank Shares were4l prem.
i
The British American Land Company held ts meet-
ing this afternoon ; and, from the statement
submitted to
the Proprietors, it is clear that its affairs are still im-
proving

BOLTON, WIGAN, AND LIVERPOOL—On Monday, a
meeting was held at Bolton, with reference to the pro-
posed line from Bolton, through Wigan to Liverpool.
The Mayor, Mr. J. Slater, presided, and enlarged on the
importance of having in connection with the district a
direct railway communication from the eastern to the
western shores of England. In his opinion, they ought
not to lose the present opportunity of obtaining oils,
tallow, Baltic timber, &c., direct from Hull. Bolton had
neglected the canals ; they must not neglect the rail-
ways. By means of the proposed line, Bolton would
have a better and cheaper supply of coals than it had at
present. By the projected line they could have their cot-
ton, tallow, &c., direct from Liverpool, which to Bolton,
with its 70,000 inhabitants, was a matter of great im-
portance. A memorial, very numerously signed by all
parties in the town, had already been sent up to the
Board of Trade, and he had received a letter acknow-
ledging its receipt. Mr. Alderman Magnall thought that
if Bolton neglected the present opportunity of securing
an improved communication with Liverpool, they would
be much to blame. Robert Knowles, Rai., then moved
" That it is the opinion of the meeting that the present
railway and canal communication is inadequate to
the wants of the people of Bolton and the neighbour-
hood." The present railway was insufficient for
the carriage of goods. The resolution was car-
ried unanimously. Mr. Henry Ashworth moved the
second resolution, and stated that the proposed line
would afford the means of communication with Wigan,
llindley, Bolton, Bury, Heywood, Rochdale, &c., em-
bracing a population of about 300,000—a fact which
established the desirability of the undertaking. He
concluded by moving that the proposed line from Liver-
pool to Wigan and Bolton, with extension to Bury and
Heywood, was admirably adapted to supply the defi-
ciencies of railway communication. R. Heywood, Esq.,
seconded the motion, which was carried unanimously.
Mr. P. Ainsworth, M.P. for the borough, said, that as
all railway projects were now left to a Committee of the
Board of Trade for examination, he felt at a loss how to
advise the meeting as to the best course to be followed
in support of the proposed line. The Committee were
in deliberation, and would, most likely, eventually come
into Lancashire, to see what lines were best calculated to
promote the public good. If the decisions already given
were to be taken as a criterion of the course they in-
tended to pursue, it would be impossible to say what
might be the fate of the various lines now proposed in
different parts of the country. A deputation, consisting
of the mayor and Mr. Ainsworth, was appointed to wait
upon the Board of Trade. Mr. Darbishere said the
Manchester and Liverpool, the North Union, and other
powerful bodies, were opposed to the proposed line,
because they wanted a monopoly ; but he trusted
that the interests of the coommunity would have a
greater weight with the Board of Trade than those of
private speculators. Mr. Ainsworth said, that so long
as the railways were under the control of the Board of
Trade, he did not think that any great monopolies would
be encouraged. If the;present line were rejected, he
doubted not that they would (as in the case of the Dover
line) call upon the Manchester and Liverpool Company
to make a better communication with Bolton than was
afforded by the present line.
GRAND JUNCTION AND LONDON AND BIRMINGHAM.—
During the latter part of last week it was currently re-
ported that the good understanding between these two
Companies had again been interrupted, and that they
were once more in a state of hostility to each other.
The report produced a very injurious effect on the
shares of both, and spread great alarm amongst the
Shareholders. We are glad t ) learn, however, that' an
official communication wasyesterday made by Mr. Moss,.
the chairman of the Grand Junction, to the chairman of
the Liverpool Sharebrokers_ Association, to the effect

that

Tits YARMOUTH MURDEU.—We Understand
an
himself ac-
of
fromthe
mAuyrldsehra readingMrs.
ca mounatn of
that ho must have been at Yarmouth on that night,
person coming out of
ea Candler, l e ther , newspaper
bethought
andi‘ir.
creamteehmpubiledhuhuasevinagudsegen a
going
up
the opposite row
with a bundle under his arm. This was between eleven
and twelve o'clock. In order to satisfy himself that it
was really the place where the murder had been com-
mitted, he came over to Yarmouth on purpose to look at
the house. Having fully assured himself that he was
correct, be wrote a letter to the mayor stating the cir-
cumstances, and expressing his Ns illingness to come over
to Yarmouth and identify the individual whom, he said,
he should certainly know again. lie was sent for, and
on being introduced to the gaol swore positively to Yar-
ham being the man he saw.—Cambridgc Advertiser.
Mr. Sturges Bourne has received intelligence of
the death of his sister, Mrs. Martin, mother of the Rev.
George Martin, Chancellor of the diocese of Exeter, who
died at Torquay, on Sunday, the 19th inst. It is a sin-
gular circumstance that the Rev. Chancellor should lose
his mother and his father-in-law (the Earl of St. Ger-
mans) on the same day. The deceased lady was in her
eighty-third year.