The Sun.
London, England, 1845-10-08 00:00:00

hundred and fifty, and requested him to make the first pay-
ment of a fifth of the amount within eight days. This order
did not, however, appear to be very strict, for on the 15th
of the following July the Company, by a circular, requested
the shareholders to effect their payments as soon as
possible, without fixing any decided time. The Pepin
Lehalleur Company had not, in fact, any necessity for these
funds until the publication of the royal ordonnance. On
the 2d of August the royal ordonnance appeared, and allowed
the several companies competing for the execution of the
northern line until the 25th of August to deposit the
" caution money," amounting to 30,000,009 for the principal
line of the north, and 6,000,000 for the branch from Fain-
poux to Hazebrouck. The subscribers, then, who had not
paid, hastened to pay their instalments ; but on Saturday,
the 9th of August, the crowd was so great at the place where
the money was received, that all who presented themselves
could not be attended to. Several of them took their money
en Monday the 11th, but the officers then refused to receive
it—at least fur the present. At that time negotiations were
pending between the Company and that of Rothschild for
uniting, and as sow' as the fusion was effected, the refusal to
receive the first instalment became definitive. By the treaty
between the Companies, Rothschild accorded to Pepin Lebal -
lair 30,000 shares, representing in value 15,000,000 francs,
upon the 300,000 shares representing 150,000,000 francs for
the sole line of the north. If M. Pepin Lehalleur had dis•
tributed the 30,000 shares between all the subscribers, they
would have had a right to one share for every twelve; but
in consequence of the omission of their names, those retained
on the list had one share for nine. He (the Learned
Counsel) maintained that neither M. Barreau nor many
other subscribers, having no propor notice of payment of the
first fifth, had as much right to be admitted upon the list of
shareholders as those retained upon it, and concluded that
the Court would declare valid the offers t ey had made. The
execution of such a division would be simple, for the Pepin
Lehalleur Company would only have to give them one share
out of every twelve. M. Moulin next pleaded the case of M.
Lagondeix, another of the subscribers. By a' letter of the
7th of August, addressed to the Pepin Lehalleur Company,
M. Lagondeix subscribed for 2,000 shares of 500 francs each,
amounting to a sum of 1,000,000 francs. A lettre d'avis,
calling for the first instalment of 200,000 francs within eight
days, was dated Ist of August, but bore the post-mark of the
9th of that month, for the half-past eight o'clock evening,
delivery. The period of eight days, then, as regards M. La-
gondeix, would not consequently expire until the 16th. He
presented himself to pay his instalment of 200,000 francs
on the 11th of August, and on the following Monday, but
they refused to receive it. As a question of right, M. La-
gondeix differed essentially from that of the other sub-
scribers, since he did not receive the lettre d'avis until
so long after date. M.. Chaix d'Est-Ange then addressed
the Court fir M. Pepin Lehalleur and the Directors
of the Company, He said he was sure the Court would
confirm the previous decision. The act of the Society passed
before M. Casimir Noel, notary, recognised as shareholders
only those who had, according to article 7, effected the
payment of the first fifth on subscribing, and required the
other payments to be made at a period subsequently indi-
cated by publication in a judicial journal; but for the first
instalment this publication was not necessary. It was even
at the moment of subscribing that the first instalment
should be paid. Subscribers presented themselves in crowds,
it was true, but very few of them were eager to comply with
the conditions of the act of the Society. So true was this, that
M. Pepin Lehalleur, bound to pay the " caution money of
36,000,000 francs," for the two lines on fhe 25th of August,
was not able to obtain fr,ms the subscription in both England
and France more than 15,000,000 francs for the Northern
line, and 3,000,000 for the branch, so that be had not more
than half the capital necessary. In such a position as this
he should listen to the proposition of theßothschild Company.
Was this fusion contrary to the law ? Certainly not,
In the discussion in the two Chambers, all the
speakers, and the Ministers, agreed that two or more
companies might legally unite. The subscribers who had
been so slow to fulfil their engagements changed their minds
when they heard of the fusion announced by the newspapers.
It was then that they awoke from their apathy, and came
forward to claim their snares. It was attempted to prove an
exception in the case of M. Lagondeix. So, there was a
difference. M. Lagondeix produced the circular bearing the
postmark of the 9th of August, when everybody knows it was
not the post stamp which made the date certain.
Nothing would be easier, after receiving a letter
by a messenger or porter of a commercial house,
than to put it in the post some days after-
wards, in order to give it a false date. He did not say that
M. Lagondeix had employed this ruse, but he referred to
the date of the letter, which limited the period to eight days,
though it might be possible that for certain reasons it was
not sent to him until the last day but one, to let him know
that he had not more than one day to make his payment in.
The letter alluded to was, however, dated August 1, and the
real offers were not made until the 17th, more than fifteen
days afterwards. They (the Company) had besides good
reason to think that M. Lagondeix was not their real ad-
versary—that another pleaded in his name. It appeared
that he had sold what interest he might have had in the
,Company. But with respect to the lettre d'avis, it was
evident that it could not have been written before the 9th,
for the application of 31. Lagondeix for shares was only
two days before. AL Fernaux, the Advocate-General,
next addressed the Court. The action was of consider-
able importance. Independently of private interest,
the public interest was in some measure concerned in it.
Justice should not come to the aid of jobbing and specula-
tion. The decision of the Chamber of Commerce appeared
to be founded equally upon equity and law. It was not
for those who, neglecting the fulfilment of their engage-
ments, had perhaps forced the Pepin Lehalleur Company to
unite with a company more powerful than itself, to complain
of the fusion which their faithlessness had rendered neces-
sary. The subscribers were sufficiently warned of the time
of payment by the act of the Society, and by the subse-
quent circular. This cause was governed not only by the
article 1,176, but also by the article 1,696 of the code civile
under the head of La Vente. The Court, after a delibera-
tion of half en hour, confirmed the decision of the Tribunal
of Commerce, and levied the cost of the proceedings upon
the appellants. 'The distribution of the shares will there-
fore immediately take place.
The works on the atmospheric railway intended to ex-
tend to the St. Germain Railway are now carried
on actively. It is known that the 'atmospheric tube was to
be laid down from Nanterre to the Place du Chatea de St.
Germain. From Nanterre to the Bare of Picq, it will make
use of one of the other roads, thus describing a curve to the
right of the old road, and crossing the roads of Chalon and
Montessan, in the ward of Vezinet, by means of two bridges
already finished, it will proceed towards the Seine, near the
bridge of Picq. A viaduct of twenty arches will follow these
two bridges, sow in a very advanced state, and afterwards a
tunnel two hundred metres in length. This also is nearly
finished. Leaving the tunnel, a deep cutting is made in the
forest of St. Germain, and another tunnel not so long as the
first is constructed opposite to the avenue of Loges.
The railway named La Ceinture submitted now to in-
quiry, and the plans which lie at the Prefecture of the
Seine, will be 12,459 metres length at the part already
under consideration, and will be constructed for the purpose
of communicating between the St. Germain, Rouen, the
North Lyons, and Orleans Railways. The expense of the
line is estimated at 8,500,000 f. The starting point will be
Batignolles The road will pass behind Montmartre and Clig-
naucourt to the extreme north of La Chapelle, of Li Vilette,
and of La Petite Vilette ; will pass under Belleville by means
of a tunnel opening above Charonne, afterwards crossing St.
Maude, the plain, and arriving at the extremity of Birey, it
will cross the Seine on a bridge to reach the station of the
Orleans line.

ROUEN AND HAVRE.—A question of considerable import-
ance to Messrs. Mackenzie and Brassey, the contractors upon
the above line, has just been brought before the Court of Ces-
sation. It was an application to annul previous judgment
obtained by the administration of imposts of the city of
Rouen, condemning Messrs. Mackenzie and Brassey to pay
duty or import upon some materiel: stones, &c , dug from
one part of the ground through which the railway passes,
to be used at another. The circumstances of the
case were, that during the excavations a considerable quan-
tity of flint and various kinds of stone were found, and used
at whatever part of the works it was required ; and upon this
the administration of imposts claimed the usual sum per load.
This claim was resisted on the ground that the materiel
was all mixed together just as it had been found, an integral
part of the soil; but the administration refused to allow the
objection, and in thirteen months the amount of impost
reached the sum of 108,006 f. 70c. The Court. adopting the
argtunent of M. 3forcau, for Messrs. Mackenzie and Bra.ssev,
annulled the previous decree of the Cour Royale of Rouen.
The question will, however, come before another Court of
Appeal. •

. . -
PARIS AND STRASKTRG.—The commerce says it is, now
almost certain that the adjudication of this line will take
place early in November, and that the ordonnance would
appear very soon.
RECEIPTS OF' THE BELGIAN RAILWAYS.--The following
was the amount of traffic on the above rail,:ays during
August last : Francs. Cents.
' - Passengers
Baggage .. " 65,067 73
Merchandise
Extraordinary sources

1,365,393 82
Corresfjondinp; month of 1844......... 1,205,166 50
The In tependence of Brussels sates the results of the
workiig of the line daring the month of August to be moat
satisfactory. The increase in the income is evident; and,
in fact, exceeds all expectation. In August last the increase
from passengers over the corresponding month of 1844 was
80,00Gf, ; frem '
baggage 7,000 f. ; and from merchandise,
73,000 r. 'The difference between the produce of July and
a which proceed from travellers, 14,000 f. from the baggage,
August is 140,000 f. in favour of the latter month, 108,000 f.
and 18,000 f. from merchandise, though there was a diminu-
tion in the quantity and weight of the latter. In July the
railway conveyed 353,956 ordinary passengers, exclusive of the
military; in August that number rose to 368,489, or 25,000
more, and that in a month of bad weather, and unfavourable
for travelling. This month is that during which foreigners
travel most, and that which our own tourists choose for tra-
velling. As these two kinds of travellers usually take the
carriages of the first and second class, we see the distribu-
tion of these travellers amongst the different classes modified
singularly: thus, while in some the proportion of the num-
ber of travellers en diligence to the total number was 11
per cent., it rose in July to 123/i, and in August to 14% per
. cent ; the proportion ofthe number who took their places
in the chars-h•bancs rose from 244 in June, to 274 in July,
and to 301 in August, and consequently the proportion of
places taken in the carriages of the railway descended to 641
per cent. to 59i, and to 544. It is probable, besides, that
the continuance of the rain induced a portion of the travel-
lers usually going by the railway carriages to go by the
chars-I-banes, and in sending others from the latter to the
diligence. The traffic of foreign travellers, and the watering
season, caused also an increase in the mean product of each
traveller. For the diligences it was in the months of June,
July, and August, 4f. 30c., 4f. 58c., and 4f. 82c.; for the
chars-k-bancs 2f. 35c., 2f. 51c., an 4f. 61c. ; but for the
common carriages the product was If. 09c., If. 08c., and
lf. 15e. The general mean product upon all the passengers
rose from lf. 76c. in June to If. 92c. in July, and to 2f. 13c.
in August. During the first eight months of 1844 the total
income was 7,235,6741. 35c, and within the same period of
the present year 8,074,001 f. 4c. It is supposed that the re
ceipts, which in the whole of 1844 were 11,230,000 f., will
reach the suns of 12,500,003 f. by t he end of this year.
Ont.E.txs AND JOIGNY.—The Minister of Public Works
has determined that this railway shall immediately be un-
dertaken, and that, for greater dispatch, the operations shall
eler.poafno3f:
two
that
10)ethelirvbideetdweine,tiottbsevoLsotiantgioanns,d ojnoeignatyt.he river Loing and the
HAvRE, DIEPPE, AND Fie I.IIP —Mr Newman, principal
engineer of the Havre-road, (says. the. Journal des Che-
nitii
an‘s.rderanFdi,ol
ta,
epepaominpt.e d
Tehneg e -in-ehief of the roads of
works will commence under his
direction in a few days. To hasteninthteir execution the whole
into three sections, each of
of the two lines has been divided
Iltinisy,hoped
which will be entrusted to a skilful
that both these lines will be opened byngen
A treaty concluded between the Havre Company
of Dieppe charges the first with the working
lines to branch upon the principal trunk. This trveoatnve7R
advantageous to both companies. It will avrid the " double
employs" and the chances of accident on the common trunk,
and has the advantage of proportioning the expenses of
working to the activity of the traffic—that is, to the amount
of the receipts. As soon as a second instalment is effected,
which will not be long hence, the shares of the roads of Dieppe

and Fecamp will be quoted at the parquet. In a few days
they will be at London and Liverpool.
SCHLESWIG AND HALSTEIN.—On the 18th of September
(just one year after the opening of the Baltic Sea Railway)
the Rendsburg and Neumunster Railway was opened to the
public with great ceremony and show. This line has been
completed in an incredibly short space of time. viz , five
months, and with the exception of the terminus at Rends-
burg, which is not yet finished, it is found to answer per-
fectly. The zeal of the directors and 'engineers has effected
this great result. It is now fully shown that the line ope-
rates most advantageously for the traffic of west and south
Schlesein, and its construction having cost no more than
43,7501., there can be no doubt of the returns being very
great.
BAMBERG AND LICHTENFELS.The Royal North Railway
from Bamberg to Lichtenfels will be opened on the 15th inst.,
and Vizi journey may then be performed in three hours. It
is a distance of fifty miles.
MOEDLING AND LUXEMBURG.—This line- was opened on
the Ist of October with all the usual ceremonies.
TELEGRAPHS IN AusTruA.—Several engineers have left
Vienna for Trieste, commissioned by the Austrian Govern-
ment to commence a teleg,raphic communication between
Trieste and Venice. With respect to the great projected line
of telegraphs, it is to be commenced on the line between
Vienna and Alilin.

SWITZERLAND.—Conferences of engineers and statesmen
are being held in Turin, for the:purpoe of constructing a rail-
way between TuriD, through Bunden to the Bodensee.

'rbirbr Mbition

THE FUNDS-(CLOSING PRICES)

ONE CLOSING
PRICES OF BRITISH FUNDS. O'CLOCK. PRICES.
3 per Cent. Consols Annuities 98A1,4 98%
Long Annuities toes.uireJ an. 1860

Ditto 30 years, Jan. 5, 1860 ll 3-16 11 3-16
India Stock 266 265
India Bonds, 1,0001 63 63
Cunsols for Account .. .... . .
Exchequer Bills, 1,0001., 1
Ditto 5001.
Ditto Small
ONE CLOSING
O'CLOCK ?HICKS

PRICES OF FOREIGN FUNDS.
Mexican, 5 per Cent. 1837 —
Ditto, Account —
Ditto Deferred —
Portuguese 5 per Cents. B4
Spanish 5 per Cent. 1840
Ditto Deferred —
Venezuela Bonds, 2 per Cent 43
Dutch, 2% par Cent .
Ditto, 4 per Cent. Certific 94 95
Ditto Account 95
PRICES OF PAID. BUSINESS DONE
RAILWAY SHARES AT ON' O'CLOCK.
Aberdeen
Armagh, Coleraine, and
Portrush l% 2%
Bideford andTavistock... 1% 2%... ...... ....
Birmingham and Ox-
ford Junction
Boston, Stamfd, & Birm. 22s
Bristol and Exeter
Ditto New
Bristol and Gloucester... 30
.. .

3134
16%

16%
43

95
95
CLOSING
'ICE?.
64

I%P
89
10%
~ 57
157 i
5,6
5!43
111 2 414

Caledonian
Ditto Extension
Cambridge and Lincoln 1% ... 5%%%
Do. New
Cambridge and Oxford.. 1% 2% •• •
Canterbury and Dover.. 1% — , ,
Chelmsford and Bury ... 1% — , ,
Chester and Holyhead-. 15
Chester and Manchester 425.
Cornwall
Coventry, Nuneaton, Bir.
and Leicester ll4 44
Derby, Uttoxeter, and
Stafford 2%...... 3%
Direct Manchester
(Remington's)
Dublin and BeltastJunc. 5
Dublin and Galway..... 4
Eastern Counties 141. 165...... 22%4 22
Ditto New 41. 16s. 7%%1A p
Ditto Perpetual, 5 per
Cent, No. 11....61.135. 4d. l% p
Eastern Union 2O .. ... 34% .
Ditto Extension . ... 11,6 —
East & West of England 1% 21%6
Ldinburgh and Glasgow 50 :.,....
•—••
Ditto, Quarter Shares 121,6...... 183 A... . 183%
Edinburgh and Perth... 11/2 —
Exeter, Yeovil, & Dorset 23/4 3% 3%
Glouc., Aberystw ith, and
Central of Wales 1 %...... 31,2%% 2%
Goole and Doncaster .. 1% 6% 6%
Grand Union l% 4l,f, 3% 3%
Great Eastern &IVestern 2% ...... 3%1,4 4 4
.ireatNorthof England-100 .218 219
Ditto, New
Great Western BO 164 167
Ditto 1,4 Shares
Ditto Fifths
Guildford, Fare'm,Ports. 2%..... 4% ... ......
!lull and Selby 5O lO4 105%........ 105%
Leicester & Birmingham 225. 24% p 2% p
Leicester and Bedford... 225. 3,4% P— 3% p
Leicester and Tamworth 495.
Liverpool& Leeds Direct 2% .. ... 6,i .. 6%
Lpool., Mnchstr, & New
castle Junction
London and Birmingtnloo 219 21814 2lBl]
Do. Thirds .
Ditto Extension ...... 1% 3% 2% . 2g
London and Blackwell. 161. 135.4 d 9% 94
Do. New
London and Brighton
Ditto, Sixths ......... 014.... 21,4 . 2%
London and Croydon, 134 15s. 9d. 234 ....-. ...... . . 231/4
Lon., Chel., 0x.,G10., and
Hereford .. 1%...... 211,f....... ...... 2%
London and Greenwich 12/ 1554 d... 10 ...... lO
Do. Preference ...18/17s 2d 23 %.. . 23%
London, Hounslow, and
Western ........ ....... 2
Lond. & S.Western 411 6s 10d 78%..... .. 78%
Do. New
Do. New
London and York 2%...... 63/4 7 6% 6%
London, Warwick, and
Kidderminster 2% 44... 4l/4
London, Salisbury, and
Yeovil ... ..... 21,44 33/4.. 334
Lynn and Dereham l%
Manchester and Leeds... 76 l5l 1541 l5O
Manche:ter and Birman. 40
Do. % Shares
Do. Quarters
Do. New Quarters ... 2
Do. Continuation and
Welsh Junction ... 1% 2% ..- ....... .. .. 2%
Manchester,Buston,and
_ _

~ I%P
43/4

111

5 i/i
22

• !4P

1% p
344
5%

Matlock 225....... 8% ra 81,4 p
Midland 100 174% r:74 174

Midland,liirm., Derby... 100
Midland Great Western,
(Irish)
Do. Extension, No. 12% — ...... ...... ... 31/2
Newcastle and Darling-
ton Junction 25 ...... 67 .
Nevvoastle and Berwick 5 - 211/2._ 20%
Newcastle, Durham, and
Lancashire Junction... 136..... • 4%3... 4%
Newark, Sheffield, and
Boston
North British
Do., New ... .....
North Devon 2 ...... 3%. ~,,,•, ..... 3%
Northern and Eastern
Do. Scrip - 56
Do. New Quarters ... 1
N. Kent & Direct Dover 21/z.... 4%%:. 43g
North North WalesStafio 4rdshire 42s. ..... 614 5.:413 p 5% p
Norwich and Brandon... 14
Northampton, Banbury,
51/2... ..... 5
Nottingham and Boston 1% 414%* ... 4%
Oxford,an d Cheltenham
Gosport, Ports •
mouth, 86 Southamptn 2 %42s p..... 2% p
Oxford and Worcester... 21/2 lB4 l'.?
Oxford, Witney, and
Cheltenham....
Ferth and Inverness ... 21,4
••••••• ..... 3 t(2
Preston and Wyre
Rugby and Huntingdon 2
Scottish Central - 1/3
Sottish Midland 1 ih. ••• 6t/di-
Shrews., Wolverhamp.,
Dudley, and Birm 21..... 8%%. Bl/2
Shrewsbury and Trent
Valley Union
Somersetshire Midland 2% 6% 1.), (3... ..... 5%
South Devon
TSsooeu:lttilth
lELMnasdi dtleaDrnnod:.e..
D.
v.
0.
a.
v.i.t.3.3,
3212:21.
4: .d. ....I::
43:70!
....ysii.
:1p........ .... .......
.....::........• 7
4, 62t3329 1
iouth 'Wales ........... .., 2% ... 87% 8 1,4
went Va11ey..... 2 "'••• 181/4 17%
['rent Valley and Holv-
head Junction ......... 1% .... 25/13. ... . 21/2
Vale of Neath ... .. ...... 2 . 43 - t.' 1....
.....
A / 5
Warwick & Cheltenham 1% ...... 3% 3...... 2% ..
Waterfd,Wxfrd,Wickliv,
and Dublin
W aterford, Wexford, and
Valentia ........ ...... 1% B%i' Of" 3IA
Wilts, Somerset, and
Southampton ... ...... 1%,..,.. 31/2 2 3i, 3%••• 27g
Milts, Somerset, & Wey-
•Tmoutli_... .... ... ......... 21/2 ...... 101/4% 10
... 93,„

Worcester, Shrewsbury, -
-- - - - -- - A
and Crewe Union ..... 1%..... 37
...
Worcester and S. Wales 425. - .......... 3%
fork and North Midland 50
86
Do Selby
. ... '•
.. ""' ...... 86

FOREIGN RAILWAYS.
Boulogne and Amiens... 8 ...... I:3 ........
Bordeaux. Toulouse, and
Cette ( Mackenzie's)... 2 ..
Do. (Espelete's)... ... 2 .••• • ...............
Central of Spain ... 2
Demerara ... ..... . 2l/z 2% 3--
Dendre Valley 2
Dijon and Mulhouse ... 2
Dutch Rhenish 5 ......
East Indian ...
Great North. of France

1314

2%
11%
4%

(La!flue's)
1)o. do. (Rosamel's) 2 ...... 3XI/2--••••"""
Do. Peppin le Halleur 4 .. •—•••—•••
Great Western Bengal... .55....... 13/ .. . ..... •• •

_
Jamaica North Midland 1

Do. Extension 1
Louvain and Jemeppe... 4 ... . 41,4 ....•••
Lyons and Avignon 2 - ......•••
Luxemb0urg.........
Na3nur and Licgo - - -•• • •
Orleans and Vierzon ... 10
Orleans and Bordaaux... 6
Over Yssel 413 a 4d —
Paris & Lyons, Latiltte's 2
PPaarriiss &anLoyßoonus,e(nCalon'.s.).
202
422% ..... ..........
Paris and Strasbourg
(Gannoron's) 2 ...
,T,woolile:ra.ti(zFax( :nieoint . :
h. ) :roesfd
Nantes,
Spain
L. a.: 1
‘.
iE..ni. .
as..
..tc.
..).-... 2224 ..... . 2275 Ar ..... . . . . :
..
.. .
MINES.

413/4
23/4
23/4
21/2

ea I del Monte Unregd.
..... ..,....... 43,4