The Sun.
London, England, 1845-10-14 00:00:00

HULL, Ocr. 13.

STOCK EXCHANGE.—The sales are—Durham and Sunder.:
land, 2934—Aberdeen, 6%—North British (Carlisle), 4%
Axholme, 72s.—Boston, Newark, and Sheffield, s%—Bris-
tol and South Wales, 15s. p.—Cambridge and Lincoln, 64
—Coventry, Nuneaton, &c., 3%—Derby and. Gainsborough,
38s. 6d. p.—Dudley, Dladeley, and Iron Bridge, 425. 6d. p.
—East Lincolnshire, 51 11 s. 3d.—Essex and Suffolk, 18s. p.

—Fleetwood, Preston, and West Riding. 4—Great .North and
South \Vales and Worcester, 14s. p.—Great North of Scot-
land, VA—Liverpool and Leeds, 512—London and Birming-
ham Extension, .21. 18s. 9d.—London and Norwich Direct,
3s. p.—Manchester, Buxton, and Matlock, 914—Notting-
ham and Boston, VA—North Staffordshire, 7N- South
Midland, 71. 3s. 3d.—South and Midlands Junction, 14s. p.
—Shrewsbury and Trent Union, 3%—Trent Valley Con-
tinuation, 34—Wakefield and Bradford, sX—Wakefield
and liarrogate, 512—Yorkshire and Glasgow Union, 5.

• • YORK, Ocr. 13.
STOCK EXCHANGE.—The sales are—Eastern Union Ex-
tension (Norwich), 51A cum new—lpswich and Bury, 4%
—Newcastle and Darlington Junction, New (Brandling), 54
—North British, New, 6%—Ditto (Carlisles), 41. 13s. 9d.—
York and North Midland Extension, 29—Cambridge and
Lincoln, 614—Coventry, Nuneaton, Birmingham, and Leices-
ter, 3%—Lancashire, Yorkshire, and North Eastern, 4%
Leiester and Bedford, 31A—London and York, 6N—Man-
chester, Buxton, &c., 9%—Newcastle and Berwick, 19—
South Midlands, and Cheltenham, 31. 6s. 3d.
—Welsh Midlands, 41. 4s.

DANK OF ENGLAND.
Account for the week ending October 4, 1845, as com-
pared with the returns of the preceding week:—

IN THE ISSUE DEPARTMENT.
Notes issued £28,355,670
Notes remaining in the Bank.— 7,095,615

21,260.055
Last time
Increase in the circulation of --
Notes with the public
Seven day and other Bills
Last time

Increase in the Bills 87,849
Public Deposits 8,703,497
Last time

Decrease in Public Deposits 96,613
Private or " Other Deposits"
Last time

Increase in the other Deposits 97,749
Government Securities 13,48,643
[No al tei ati on.]

Private or " Other Securities" 15,188,965
Last time

Increase in other Securities 1,039,962
Gold and Silver Coin and Bullion
in both Departments
Last time . 15.160,693

Decrease in the Bullion
Increase in the circulation, as compared with
the corresponding week of last year £1,107,160
Increase in the Bullion ditto..

NOTE.—The Bank appears to be rather rapidly in-
creasing its circulation, which is very unusual just
before the payment of the dividends. I presume the
directors are doing so in anticipation of the large sums
which will shortly be deposited with them to the credit
of the Accountant-General as deposits on the new rail-
ways, although a considerable portion thereof will most
likely be invested in Government Securities during the
autumn ; yet there can be but little doubt that there
will•also be large sums paid in in bank notes.
October 11, 1845. COSMOPOLITE.

TO THE EDITOR OF THE SUN.
SlR,—There appears to be a very erroneous opinion
prevalent rest: ecting the money employed in the
formation of railways ; some persons talk and write on
the subject, as if there were so much gold and silver
actually sunk and deposited in the soil, instead of iron,
stone, and wood. The fact is, that no money is lost to
the community, although such immense sums are ex-
pended, and no pressure can, or ought to be, apprehended
or felt in the Money Market, unless more cogent reasons
be addueed than have hitherto appeared in some of the
newspapers and other publications. These remarks will
also apply to the speculators in shares ; if A buys of B,
for instance, on the Stock Exchange, the transaction is
merely a barter. A takes the shares, and B receives the
proceeds, which he again employs; therefore if shares or
stock be taken out of the market the money still remains
there for future operations.
Indeed, all the ramifications of the railway system,
from the daily labourer up to the wealthy iron manu-
facturer, may be considered as a species of barter or ex-
' change of money for work and materials. Permit me
to examine its various phases, seriatim—at least so far
as the general currency of the United. Kingdom is con-
cerned. First ; upon the projection, or formation of a
company, the deposits of the subscribers are paid into
some local bank; perchance to be invested in Exchequer-
bills or stock, until the ensuing meeting of Parliament ;
they are then paid into the Bank of England, and re-
main under the control of the Accountant-General as a
guarantee for the bond fide nature of the undertaking ;
now, in these primary stages, whether the deposits be
invested in the funds, or used by the local banks in loans
and discounts, or subsequently to augment the circula
tion of the Bank of England and its branches, there is
no question but that the amount thereof will be in the
market in some shape or another, for it is quite absurd
to suppose that the banking establishments keep their
customers' baknces in the iron repositories unemployed,
when, in fact (as is well known), that all the private
London, and many of the provincial bankers, depend
solely upon these resources, as a set-off for the expenses
and trouble of keeping their clients' accounts, without
any charge of commission whatever.
The next stage is, either the passing or rejection of
the Bill by Parliament. In either case the deposits are
returned, and most likely lodged at their old quarters in
the local bank ' • if the Bill be rejected, the company is
of course then dissolved, and the deposits (less the ex-
penses) returned to the subscribers.
I now proceed to notice the operations of the company
incorporated. After due registration of the proprietors.
the first step will probably be for the directors to make
a call—how many of the subscribers, to some of the
schemes, will be at home on that occasion, Pun, h can
better illustrate than myself ; suflicit foram to say, that
these calls must not be slighted or disregarded, either
by the then registered proprietors. or their heirs, exe-
cutors, or assigns. And here I would beg to observe on
the awful responsibility involved by the indiscriminate
application for shares—no matter what the project is, or
who are the projectors—every one must, or ought to be
aware, that after paying the subscription deposits, at the
banker's, he cannot get a negotiable title for his scrip
without first signing the subscribers' agreement and
Parliamentary deeds ; wherein he engages for himself,
his heirs, and executors, to pay up all the calls for which
he is liable to the full extent of his subscriptiort: Diok
at this and take warning, ye professional men and
fathers of limited incomes, engaged in these pursuits,
and tremble for the future welfare of your wives and
children, should it please the Almighty to remove yon
suddenly
.from them—and ye, tradesmen, who perhaps
have, during a long course of honest industry, saved a
few hundred pounds—how can many of ye submit. to be
so entrapped by some of these cunning soi-disant direc-
tors to write and sign the deeds for hundreds of shares,
upon condition of giving them one-half, for the use of
their influence in obtaining them ? So thate for the
sake of a moiety of the premiums (if any) you incur
all the risk, as well as responsibility, for future calls.
The instalments, or calls, are now coming in, and the
next step in advance will be, the purchase of land : and
here again the proceeds will either go to the landlord,
to pay off some old mortgage, or they are re-investecl,
or lodged to his credit at his banker's until some suitable
investment be found for them.

The levels, cuttings, embankments, tunnellizgs, &c.,
are also now in progress, and large sums are drawn from
the bank and disbursed, every week, to the men employed
which finds its way to the bakers, butchers, and general
shopkeepers, for food and clothing for themselves and
families. With a portion of these moneys, on market
days, the bakers buy corn of the farmers ; the butchers
buy cattle of the grazers ; and the shopkeepers hand
over their weekly or monthly receipts to the mer-
chant, manufacturer, or wholesale houses ; which sums
are again deposited at the bank, to the credit of their
several accounts. _ _

And finally, comes the liquidation of all the expenses
for the rails, engines, law charges and surveys, &c.; &c.;
but, as in the former case, wages for labour and work
done, form the principal items—more especially in the
manufacture of iiron. The same remarks will equally
apply, both to the professional gentlemen and iron
masters, as well as to the contractors, for any specific
work, at a fixed price. Thus, it will be seen, that
through the medium of the various banks, the permuta-
tions and combinations of moneys, discounts and credits,
are continually going on. to an enormous extent; whilst
only a small, comparative amount of cash, is actually re•
quired, to adjust the balances between the respective
parties.

- Perhaps I cannot better illustrate these important
operations, than by a reference to the clearing house in
London, where upwards of four millions sterling are (on
an average) daily liquidated, by the mere passing of
cheques, exclusively, between the private banking-houses
in the City.
On a future occasion, I may probably offer a few re-
marks on the reproductive process which the capital of
this country is at present undergoing. Many who now
read these lines will, in all likelihood, live to witness the
total extinction of the National Debt, by the immense
revenue which railways will ultimately be the means of
bringing into operation for that purpose.—l am, Sir, &c.,
Oct. 7, 1845. COSMOPOLITE.
•

MALICIOUS OUTRAGE AT DALHAM.—On Saturday
night last, the 4th inst., some evil-disposed per-on or persons
entered the sheep-fold of Mr. William King of Dailium, broke
the neck of throe ewe sheep and left them; but we are
happy to add, that as Mr. King is in an association, the per-
porators have boos foiled their attempt to injure
(00V:feral&

POLICE INTELLIGENCE.
Yesterday arid elderly man, who stated his name to be
George Bal., of No. 9, Siaymore-road, Ilighbury, was
charged before Sir William Magnay with obtaining goods at
varikars times from chemists, druggists, and perfumers,:in all

parts of London, under false pretences. -
Mr. Alfred Allchin, of 79, St. Paul's-churchyard, said
that he gave the prisoner into custody on Saturday in con-
sequence of being informed of the tricks he had been car-
rying on for some time at various houses in the City and
elsewhere. The prisoner came to his house and brought a
bottle of Macassar oil, and wished to get the money back, as
he was not in want of it, andstated that he bought it at
his shop. lie also asked for a box of pills, and represented
himself to be Mr. Lawrence, under-secretary at the Post-
Mice. The goods were refused, and he was given into
custody.

Mr. 'ward° Cope, of No. 33, St. Martin's-le-Grand, che-
mist, stated that tl e prisoner called at his shop on the 20th
of August, and asked the price of a bottle of Rowland's
Kalydor, and on being told he said he would have a bottle,
which was made up and given to him. He asked witness if
he could change a cheque for him, having no small cash, and
on receiving a reply in the negative, rejoined that his name
was Mr. Lawrence, of the Post-office, that he was going to
take the Kalydor down in the country to his daughter, and
if he (Mr. Cope) would send on the following morning to
him, it would be paid. On sending over the real Mr. Law-
rence said he had never sent any one for the Kalydor, or any-
thing else.
Mr. William Hill, perfumer, of Cheapside, said that about
the sth or 6th of November last, about ten o'clock at night,
the prisoner called and said he wanted a bottle of dye, but
unfortunately he had no money with him. He said his
name was Johnson, that he was a solicitor, and resided in
Nugent's-court, Poultry, and was in a great hurry to go to
Hornsey, to a party. lie was more respectably dressed than
at present, and witness gave him the dye, with other goods,
to the amount of 13s. 6d. On the Monday morning he sent
for the amount of the bill, but no such person resided in
Nugent's-court. Suspecting a fraud he went round to
several parties in the trade, and on stating the case the re-
ply he received from them all was—" So he has paid you a
visit."

Mr. James,Crisp, assistant to Mr. Butler, chemist and
druggist, oftheapside, stated that the prisoner called at his
employer's shop about the 22d of June, and asked for a bottle
of castor oil and a box of pills, which being served he re-
quested change for a cheque for about al/. He, however, did
not show the cheque. Witness could not give change, and
having some recollection of having seen him before, refused
to let him have the goods. He gave his name as dr.. Jack-
son, of -22, Holborn-hill.
Mr. G. H. Wright, of No. 7, Poultry, stated that about
five months since the prisoner came to the shop of his late
employer, Mr. Palmer, chemist, in Union-street, Borough,
opened a note, and having perused it, said he had just re-
ceived it from a lady with whom his daughter was residing,
and that slw wished for something to cure the poor thing, as
her head was bad, and strongly recommended Rowland's
Kalydor. There was also an eruption of the face. Mr.
Palmer gave him the Kalydor, when the prisoner said, " I
suppose you cannot give me change for a 50/. cheque," at the
same time pulling out his pocket-book as though he had one.
Mr. Palmer replied he could not, when the prisoner said he
had nothing less, but that he lived at No. 112, Cheapside.
The price of the Kalydor was 4s. 6d. In the afternoon he
came back in an apparent great hurry, and said he had been
to see his daughter, and that the Kalydor would not suit.
He, therefore, wished the money for it back, at the same time
asking for a small quantity of some kind of medicine. Wit-
ness told him he should not give any money back, as he well
knew he never paid his master in the morning fur it; neither
should he serve him with anything else. Upon which the
prisoner immediately decamped, and was soon out of sight.
Mr. John Lee, at Mr. Lucas's, No. 163, Cheapside, chemist
and druggist, said that about two months since the prisoner
came to his employer's shop in gr-at haste, as if he was go-.
ing by the railway, and asked for a box of lamily pills and
a bottle of Rowland's Kalydor, and when they were ready
he wanted change for a cheque for 5/. ; and, on its being de-
nied, he said that he would call and settle for them on the
following day; but witness recognising him, refused to allow
the goods to go. He said his name was Mr. Thomas Long,
of the Custom-house. About eighteen months since, he
called and saw Mr. Lucas. and then gave his name as Mr.
Thomas, of the Long-room, Bank. On this occasion it was
for some Kalydor.
Mr. Hall, perfumer, 65, Cheapside, stated that the prisoner
had brought two bottles of Kalydor back to him, and obtained
the money, although he was pretty sure they were never
bought at his house. He had known the prisoner for about
six years. He used to keep a school out at Wandsworth, and
his real name was Boyle, and not Ball.
R. Tyrrel, an officer attached to the Post-office, produced
a quantity of goods found at the prisoner's residence, High-
bury, consisting of pills, Kalydor, powders, &c., and said
that there were above twenty cases against him.
The prisoner said that all that had been stated againSthim
was entirely false.
He was remanded until Thursday, to give an opportunity
of other parties coming forward against him.
There was a piece of sponge found on him, with a small
piece of linen attached to it, marked 9s. 6d., and a sealskin
bag and some Kalydor.
It appears the prisoner, who is married, has taken a large
house, with twenty rooms, at Highbury, and issued circulars
for the purpose of getting a school, but there is hardly a
stick of furniture in the house, although they have been in it
these last six months. The rent is at 60/. per annum, and it
was stated by the officer that the landlord was most anxious
;o get rid of such a customer.
QUEEN-SQUARE.
- -

Just before the close of the Court, a gentleman entered,
and addressing Mr. Bond, said, " My name is Quail, Sir, I am
a surgeon, and the representative of the Legion, from Por-
tugal, and was entrusted with the care of the invalids, by a
decree passed by the Council of Health in Oporto."
Mr. BoND—What can I have to do, Sir, with the Legion ?
Dr. Quail—l have just come from the Foreign-office. Lord
Aberdeen sent me word a fortnight ago, that when his private
secretary, Lord Canning, came to town, he would attend to
my business. I have received this letter from Lord Canning,
which is exceedingly unsatisfactory. Perhaps you will be
good enough to look at it. Dr. Quail, who had his hand full
of letters, was about handing the one alluded to towards the
magistrate, when—
Mr. BOND said—You must be aware, Sir, that this is not
the place to make any application on such a subject. I can.
not listen to you, Sir.
Dr. Quail—l went to the Foreign-of&T this afternoon,
when the Superintendent of Police was fetched, who told me,
that if I did not go away he would lock me up. Such conduct
is Most unconstitutional and illegal, as—

➢lr. BOND —I cannot suffer yoti-te proceed.
Dr. Quail—The Superintendent of Police recommended
me to come before you, as the matter would then be brought
out.

Mr. Bosn—l have a very great objection to a police-
court being made the vehicle by which matters are to obtain
publicity. I shall always set. my face against such a system,
as I feel that it is most unjust to permit statements to be
made to the prejudice of persons in their absence. I cannot
think that any superintendent of police could have given you
any such directions. Do you complain of any assault having
been committed upon you?
Dr. Quail—No, Sir, I do not ; but I have considerable
claims on the Government. I was at the Foreign. office ap-
pealing on behalf of myself and fellow-countrymen, when—
Mr. BOND-I have told you, Sir, that this is nat the place
to make any statements with relation to claims of this cha-
racter.
The chief usher having intimated that Whitehall was in
the Bow-street district,
_ .

Mr. BOND said he might
go to that Court if he thought
fit, but it would be perfectly useless, as no magistrate could

interfere in such matters.

Dr Quail said he thought it very unjust that he should be
ordered away from the Foreign-office, which was the very
place where the matter should be adjudicated, and retired evi-
dently much dissatisfied.