The Sun.
London, England, 1845-11-29 00:00:00

MONEY MARKET and CITY NEWS

CITY, THURSDAY EVENING.
POST.—The public securities rallied to-day to the extent
of nearly 1A per cent. on yesterday's closing quotations.
This was owing principally perhaps exclusively—to the
breaking up of the Bank Directors (it being the weekly
board-day) without issuing any fresh order respecting the
rate of discount. The minimum remains the same as for the
last three weeks, namely, 31,2 per cent. In refraining from
any further action upon the currency the Bank have, we
think, acted for the best in every respect—best for the cor-
poration and best for the public. Apart from political em-
barrassments, there is nothing whatever to create uneasiness.
The Bank have a superabundance of treasure, and we no
longer hear of any pressure for money abroad, nor, with the
exchanges so high as they are, is it :possible to believe
that a scarcity exists. Already we find the value of
merchandise has been forced down in a serious degree
by the operations of the Bank parlour. This is an
evil that requires correction, and, in the application of the
remedy—the relief of the money market—the cases of vari-
ous other important interests will be benefited. The fund-
holders and the holders of all descriptions of joint-stock pro-
perty cannot but participate in the consequences of the in-
dulgence shown by the Bank to the trading classes in the
greater liberation of their accommodation, and the modera-
tion of the charge they make for it. tinder these circum-
stances, dull as many things have been again to-day, an im-
provement is thought to be close at hand. Ministers have,
we hear, resolved to adopt measures of some sort to prevent
the payment of deposits on railway shares from disturbing
the circulation of the kingdom. Should this prove to be the
fact, it will have an ameliorating influence such as is so ge-
nerally needed.
TIMES.—From various letters received on the subject
there would appear to be a pretty general disposition among
those who have received letters of allotment for shares in

railways, but who have sold those letters, to resist any claim
now made upon them for the payment of the deposit. Their
liability to such payment is not denied, but as they conceive
that it cam only be enforced by a suit at equity, which most
of the promoters of bubbles would have peculiar reasons for
not resorting to, they are inclined to await the result without
much apprehension. In the event of such suits being insti-
tuted, it is not difficult to imagine the perplexity in which
some parties would be placed, when necessarily called upon,
as the basis of their claim upon others, to make affidavit
that they had themselves paid the deposit on their own shares.
Such parties, it is obvious, could never maintain a suit in
equity, and their victims would be in no sort of jeopardy
from their resistance to such a call. But in the compa-
nies of a sound and legitimate character it is equally clear
that the case would be materially altered, and if the concern
is proceeding with a fair prospect of ultimate success, it is
the duty, and perhaps the policy too, for every man to keep
to his engagements, as he will frequently thus assist in
creating a value for the shares which they would not other-
wise possess, and legal proceedings would, in the end, ulti-
mately compel him to do so. The great objectionable feature
of the matter, as regards the promoters of railway projects,
is the lateness of the application, and the consequent short-
ness of the time which appears in many instances to be
allowed for making the payment. Had all been fair with
the directing board or committee, they would at the outset
have adopted, as a stringent rule, the payment of the
deposit within a given time, and made it a part of the
original letter of allotment, which would have made
the applicant fully aware of the liability in which
he was placed ;. but, during the prosperous run of
railway affairs, nothing of the sort was even hinted
at. They evidently held it to be their policy to say as little
as possible that could alarm their dupes, and the energy they
are now using to compel payment of the deposits by the
parties who originally applied for the shares only proves the
difficulty into which they themselves have now in turn justly
been brought. In almost every instance, therefore, their
case would be far from a strong one, and in &great majority
of them quite untenable. Mach credit is doe to the Directors
of the Bank for the arrangements made to shorten the period
during which the books axe to be closed against the transfers
of stock. Last year the shutting day was the 3d of
December, but the approaching shutting is not till
the 10th of December. This arises chiefly from the
reduction of the labour required in making out the
dividend warrants, in which, by order of the Directors, the
names of the holders of the stock are not in future to appear ;
and this is adopted to answer the double purpose of lessening
the period of shutting, and of withholding that information of
the accounts, as to names and amounts of stock, which is
capable of being turned to fraudulent uses. At all times an
additional week for public transfers is valuable, but it is most
particularly so at present. There has not occurred for many
years a period for closing the Bank books against transfers
which has been regarded with so much anxiety.
The Directors of the Auction Mart have pass. ed a resolu-
tion that their rooms shall not be used for the sale of scrip in
projected undertakings not authorised by Act of Parliament.
HERALD.-Another weekly meeting of the Bank Direc-
tors has passed off to-day without producing any further
change in the minimum rate of interest by that establishment.
This fact will be anything but gratifying to the alarmists,
some of whom predicted that, ere this, the minimum rate of
interest would be not less than five per cent. The foundation
bed is, however, even more fragile than that of some of the
bases upon which they have relied for support. The fall in
the prices of railway shares has not made money less abun-
dant, but, on the contrary, by restricting the field for its em-
ployment, it is rapidly accumulating in the hands of the
London bankers, and by necessary sequence tending to reduce
its value. The distrust which has been created continues to
impede discount transactions, and to some extent has enhanced
the terms ; but, as we have often had occasion to remark, there
was no speculation in commercial commodities,and the busi-
ness of the country being sound at the core, the effect of the
reaction in railways will be but partial in extent and
comparatively temporary in duration. Already the
bankers and other capitalists are getting tired of keeping
large sums of money unemployed in their tills. They have
not, however, got entirely rid of the apprehension created
that money will be more in request towards the end of the
year, and abort dated paper is, therefore, discounted at rates
considerably lower than the difference of time compared:with
long dated bills. A preference is given to lending money re-
turnable on call, from the same apprehension, and it can be
obtained in abundance by the discount houses on these terms
at the rate of three per cent. per annum. Whilst this state
it is not to be presumed that the Bank of
Ilictei,iellkeir Assent rate, as the inevitable re-
su▪
lb t. w riy.hu ofimue4 of their discount and loan
no a .-re*ti be given for the expecta-
tion that and dearer- at the end of
December' tine Jut two or Wee days

some of the shrewder bankers have become less scrupulous
with their discounts. Public securities have been rather
firmer to-day, and the speculators for the decline have lost
confidence to carry their operations further. One of the re-
sults, indeed, of injuring commercial credit, is to send more
money to the public securities for investment, and of this
the experienced speculators are so well aware that they hesi-
tate about timing their accounts and proceeding for the ad-
vance.

LAW INTELLIGENCE.
COURT OF QUEEN'S BENCH, N0v.28.
fi gi at Nisi Prius, before Lord DEN MAN and Common
Juries.)
COBB V. SAVILLE.

This was an action by the proprietor of the Theatre Royal,
Brighton, against the defendant, who was lessee for a period
of three years, and it sought to recover about 401. for alleged
breaches of certain covenants in the lease. The lease was
dated in 1841, and expired 13th April, 1844, at a yearly rent
of 4001., and the breach complained of was neglect in keep-
ing the theatre itself, and the properties belonging to it, in
proper and sufficient repair, as covenanted in the lease.
Counsel for the defendant maintained that he gave up the
theatre and properties in a much better condition than he
had received them in, having expended a considerable sum
out of bis own pocket in repairs and embellishments.
A great number of witnesses were examined on both sides
as to this point, but the evidence was of a most contradictory
character.

His LORDSHIP having summed up,
The jury returned a verdict for the defendant.

COURT OF EXCHEQUER, Nov. 28.
(Sittings after Term before Mr. Baron PLATT and a
Common Jury.)
CAUTION TO JURYMEN.

At the sitting of the Court this morning, Mr. Baron
Platt directed three jurymen, who had been summoned on
the jury., to be fined 5/. each, for non-attendance and failing
to answer to their names when called over by the Clerk of
the Court.

ROSHIRE AND ANOTHER V. LA MONT.

This was an action on the case brought to recover com-
pensation in the shape of damages for the loss of a valuable
mare, which had lost its life through the negligence of the
defendant's servant. The defendant had pleaded that he was
not guilty, and upon this plea issue was joined.
Mr. Sergeant Murphy, Mr. Gray, and Mr. Collier appeared
for the plaintiffs ; and Mr. Wordsworth for the defendant.
Mr. Sergeant Mialrin- stated the plaintiffs' case. The
plaintiffs were lime merchants, carrying on business at Lime-
house, and the defendant a tradesman, residing in the City.
A short time ago the plaintiffs sent Thomas Lorik, one of
their carmen, with a load of lime to a builder in Westminster.
On turning the corner of Queen-street, into the Horse-
ferry-road, with the usual caution, the carman was startled
at perceiving a light van coming down the street at a furious
rate. He called out to the driver of the van to "hold hard,"
but the driver heeded him not, and the shaft of the vehicle
came -with frightful violence in contact with the breast of the
leader in the plaintiffs' waggon. The near shaft penetrated
the breast of the animal several inches, and killed it upon the
spot. The value of the mare was fifty guineas, and the de-
fendant, who was the reputed owner of the van, having flatly
refused to make the plaintiffs any recompense for the injury,
the present action was brought to recover that amount.
Evidence having been adduced to prove the accident and the
amount of damage.
Mr. WoßDswoßm addressed the jury. for the defendant,
and afterwards called witnesses, with the view of preying that
the accident would not have happened had the plaintiff's car-
man used ordinary caution, and taken a sufficient radius in
turning the corner of Queen-street.
Mr. Sergeant Murphy was about to reply, but the jury
stated that they had already come to the determination of
finding a verdict for the plaintiffs.
Mr. Baron. PLATT—What damages do you award, then?
Foreman—Oh, we have not considered that point yet, my
Lord.
Mr. BARON PLarr—You had better do so, then, for that
is a material point for you to decide.
The jury after a short consultation awarded the plaintiffs
45/. damages.

COURT OF COMMON PLEAS, Nov. 28.
,Sittings at NisT Prius, before the LORD Crum' JUSTICE and
a Middlesex Common Jury.)
SIGGS V. BAKER.

This was an action on a warranty of a horse which bad
been sold by defendant to plaintiff on the 24th April, 1845.
The unsoundness complained of consisted of a cataract in the
off eye, and a lameness in the near fore leg, but the latter
part of the charge was abandoned IT the plaintiff. The
point in dispute was, whether the unsoundness existed at the
time the horse was sold, or had been induced afterwards ; and
the principal evidence on the part of the plaintiff was that of
Mr. Mayor, a veterinary surgeon, who had examined him in
March, 1845, and who was of opinion that the cataract must
have been caused by inflammation of long standing. The
eye must have been inflamed about three months before the
time at which he examined him, and at that time it must
have been very remarkable.
Qn the part of the defendant, there were persons who had
had the horse in their care, and in their possession at, and
betbre, the time when he was in the stables of the defendant.
All these witnesses said that they perceived no unsoundness
in the horse, but that it might have existed and they not
perceive it.
William Silverton. of St. Albans, veterinary surgeon, exa-
mined the horse in question on the 12th of the present
month, and perceived no cataract, or other unsoundness. He
had had fifteen or sixteen years experience as a veterinary
surgeon. He thought no unsoundness could exist without
his perceiving it, but he could not swear that it might not.
His attention was not particularly directed to the eyes, and
he was not aware that this action had been brought at that
time.
Mr. Sergeant BYLES, on the part of the plaintiff, addressed
the jury at length on the evidence, and
The LORD CIIIEF JUSTICE having summed np,•
The jury gave a verdict for the plaintiff—Damages 121.

SECONDARIES' COURT, Nov. 28.

(Before Mr. Secondary J.4-iis.)

PF.TERS V. ---
rhis was an action brought by the plaintiff, who formerly
ctupried on business as a baker, at Sydenham, Kent, to re-
coter the sum of 103/. ss. 9d., for good-will, fixtures, horn.
cart, &c. The plaintiff was a young lady, a minor, and sued
by her next friend. An auctioneer was called, who proved
that he was employed by the parties mutually to value the
property, and gave possession to defendant, who, however,
had not paid any portion.—Verdict for the plaintiff.

THE SUN, LONDON', S

did. That was the excuse ; but he (the Commissioner)
would beg to remind Mr. Reay, that if he turned to the first
item of all in Jarvis's books, he would there find his own
name entered for large credit, and especially during the first
part of Jarvis's trade, was-his name entered for a very con-
siderable amount. Was it, therefore, surprising that when
the world saw (for, no doubt, Jarvis advised the other houses
of the fact) that Reay was giving support to this new firm,
that others followed the example to a limited extent? Cer-
tainly not ; and if Reav chose to give false credit in this
manner, and thereby induce others to do likewise, he must
take the responsibility. It was through the credit given by
Reay to Jarvis, that that person (who described himself as a
porter, and Reay as a clerk) in the course of eleven months
obtained 36,0001. worth of wines, all of which had gone to the
winds. If the bankrupt's conduct was to be blamed in the
case of Blumenthal, it deserved much greater censure in the
case of Jarvis, for the last credits were all given in the year
1844, when, as a faithful steward of the property of his credi-
tors, he ought to have stayed his hand from further transac-
tions of the kind. It was, however, evident that so long
as he could obtain the discount of paper, so long was he de-
termined to pursue this inconsiderate course of dealing. The
allegation that the bankrupt had engaged in accommodation
bills was most strenuously denied. He (the Commissioner)
bad closely investigated the case on that point, and was per-
fectly satisfied that a system of accommodation transactions
had been indulged in between the bankrupt and several of
his insolvent customers. It was said the course the parties
had adopted in this respect was a custom of trade. If it were,
it ought to be most strongly reprobated. There was no
doubt, from the books, and the discovery made since the
bankruptcy, that bill dealings had been engaged in by the
bankrupt for the purpose of keeping these parties " going,"
and supporting a fictitious appearance of credit. If it were
not so, how was it that several thousand pounds' worth of
bills were found in the bankrupts' drawers after the
bankruptcy ? They were there ready, of course, to be
pushed into the market to keep credit alive, and delude
the public into the belief that they were dealing with
men of substance. It was only when the bankers and
bill-brokers refused to discount further that the ruin to
the parties engaged was made apparent by the fiat.
Could any one say this was proper conduct ? No one, not
even the bankrupt himself, whom he (the Commissioner) be-
lieved, if he calmly reflected for a moment, must admit the
impropriety of his career. It was necessary to state so,
that the creditors might not be deceived, that the assets
under the joint estate would not realise more than 2s. 6d.
in the pound, and this one-eighth of the gross amount of his
debts and liabilities was all that this merchant, who once oc-
cupied a proud position in his trade, could offer to his cre-
ditors in satisfaction of their claims. It now became his (the
Commissioner's) duty to say what amount of punishment
was to be awarded fur this want of proper conduct on the part
of the bankrupt. If the Court wholly refused the certificate,
it would be inflicting on the bankrnpt a punishment amount-
ing to a commercial outlawry. That he was not desirous of
doing, considering some of the features the case presented.
He thought there were mitigating circumstances to be taken
into consideration ; one of which was the very good conduct
of the bankrupt since his bankruptcy—an ingredient allowed
by the terms of the Act to have weight in the judgment of
the Court. He hoped he did not permit the sympathy which
he felt for the bankrupt's position to interfere with the course
of justice ; but he did consider that that circumstance ought
to weigh in favour of the bankrupt. He could not but hope
that inquiries like these would be of essential service to trade ;
because. by the power the Court now possessed in granting
or refusing certificates,all persons must undergo the ordeal in
public instead of private, as heretofore. Traders would now
find that the moment would come when whatever might have
been done in the closet or the counting -house would be ex-
posed on the house-top. The present case ought, therefore, to
be an example to them of truly and fairly looking their
Wain in the face, and if on a true balance of books they found
themselves wrong, to give up the property they possessed for
full and equal distribution. Looking at all the facts of this
bankruptcy, his Honour said, in conclusion, that it appeared
to him the justice of the case would be met by the suspension
of the certificate for two years.—Certificate suspended accord-
Lngly.

POLICE INTELLIGENCE.
MANSION-HOUSE.

On Thursday a very remarkable case was brought before Sir
J. Pine, after the Lord Mayor had finished the routine busi-
ness of the day in the justice-room.
A seaman of very intelligent appearance, named John
Potter, who stated his age to be about 30 years, presented
himself at the bar in the custody of Bradley, one of the prin-
cipal officers of the Mansion-house, a voluntary prisoner.
The following evidence was given on the occasion :
James Bradley said, this day the prisoner voluntarily de-
livered himself into my custody as an escaped convict. He
stated to me that he escaped in December, 1839, from Syd-
ney, since which time he had been at sea—that he was tried
and convicted at Shrewsbury in the month of August, 1832
was transported for life—had received no pardon for his
offence—and was actuated by a sense of duty to his God in
thus giving himself up to justice. I have procured from John
Bellamy, Esq.. the clerk of assize of the Oxford Circuit, the
certificate of his conviction at the assizes holden at Shrews-
bury, in and for the county of Salop, on the Ist day of August,
in the third year of the reign of his late Majesty King
Willian the Fourth, by the name of John Potter, and the
prisoner confessed to me that he is the person referred to as
John Potter in the certificate I produce, and which I saw
signed by Mr. Bellamy.
Sir J. Pmw..--What have you to say to this statement
made by the officer, prisoner? The prisoner—l admit that
his evidence is in every respect correct.
Sir J. Pium—l am aware of the particulars of your history
from yourself, and I have every reason to give credit to all
your assertions. I think it necessary, however, as a magis-
trate, to hear you make a public statement.
The prisoner then said he had escaped from Sydney about
four years ago ; that he there witnessed the miserably im-
moral condition of his fellow-convicts, whom, as he was now
a reformed man himself, be should earnestly wish to assist as
much as lay in his small power in reforming. That he had
been earning an honest living as a sailor, first in an American
vessel, and afterwards he was employed in the Hudson's
Bay Company's service, and sent to Africa. He said that
after a laborious service in foreign ports, he became a sea-
man on board the ship John Gray, trading from Greenock to
Bombay, and on the outward voyage he was induced by a
special Providence to turn over the pages of the Holy Bible,
which wrought such changes in his mind, affecting the good
of his fellow-creatures, that he was at once seized with the
desire to do something for their advantage; and he certainly
considered himself able, from the experience he had had of a
convict's pains and penalties, to read them a strong lesson
upon the nature and effects of their crimes and errors. There
was one thing, however, to be got over before he could think
of making the attempt upon which his mind and heart were
fixed. He had been guilty of a further violation of the laws
of his country by making his escape from his place of punish-
ment, and he could not satisfy his conscience without deliver-
ing himself up to justice. He had, therefore, come to the
determination to confess his escape, notwithstanding the
horror inseparable from the idea of a convict's life, and the
great probability that he never should be discovered in the
character which he had performed so long without having
excited the least suspicion. After looking over the subject
with the seriousness which belonged to it, he applied, through
the recommendation of a clergyman at Calcutta, to whom he
had mentioned the cause of his uneasiness, to Sir John Pine,
who attended to him with the most benevolent interest, and
declared the utmost willingness to give him employment by
which he could earn a respectable livelihood, but considered,
as a magistrate of the City of London, that an effort to shield
him could not be consistently made without the sanction of
the Secretary of State.
Sir J. PIRIE said the case having all the evidences of truth
about it, and the prisoner having abandoned the vicious
courses which led to his conviction, an application was made
to the Serretary of State for the Home Department to take
the circumstances into consideration. The crime, however,
for which the sentence of transportation was passed having
been a heavy one, and the effect of example co-operating,
Sir James Graham could not recommend the grant of a par-
• • himself to

don, but intimated that the convict must resign.
trial by the laws of his country unconditionally.
The prisoner said the accusation against "him at the

ShrewsbUry Assizes went much farther than it ought in jus-
tice to have gone ; for, although it stated that he had com-
mitted a burglary and stolen several articles, the real fast
was that he entered the premises without the Least violence,
and, he carried off but two articles, and they were of very
little value indeed.
Bradley produced the certificate of the prisoner's convic-
tion, of which the following is a copy, divested of its tech-
nicalities
"These are to certify that at the assize and general de-
livery of the gaol of the late King William. IV., holden
at Shrewbury on Wednesday, the 10th of August, in
the third year of his Majesty's reign, before certain•
justices assigned to deliver the gaol of the pri-
soners therein being, John Potter, labourer, was tried
and convicted on a certain indictment against him ibr that
he, on the sth of June, 1832, with force and arms, the
dwelling-house of William Evans feloniously did break and
enter, and two keys of the value of sixpence, one pair of
braces of the value of sixpence, one coat of the value of ten
shillings, two waistcoats of the value of five shillings, two
pair of breeches of the value of ten shillings, one hat f the
value of five shillings, and one pair of stockings of the value
Of one shilling, did feloniously' steal and carry away, against
the peace, &c., and thereupon judgment of death was re-
coreed against him for the offence, and afterwards his late
Majesty was graciously pleased to extend the royal mercy to
him on condition of his being transported beyond the seas
for the term of his natural life, and such extension of mercy
having been signified by Viscount Melbourne, the Court al-
lowed to the said offender the benefit of a conditional pardon,
and it was thereupon ordered that John Potter be imme-
diately transported for the term of his natural Mc"
The prisoner was committed to Newgate for the escape,
and a true bill was yesterday evening, about. an hour after
his committal for trial, found against him by the grand jury.
Some years ago a similar case occurred in London. A
man, who was sentenced to be transported, made his escape
from Sydney, came to London, and lived in respectability as
a tradesman for some years, but was one day met 'by the
very officer on whose evidence he had been convicted. He
-was committed for trial for the escapn, and immediately
after his confession and conviction was, upon the strong re-
commendation of the jury, mercifully recommended to the
13overeign, who granted a free pardon.
It appears that Potter is anxious to return to Sydney, in
which he had witnessed boundless depravity, for the purpose
of reforming his fellow'-convicts.
DESPERATE ASSAULT.—A woman, named Mary Fowler,
was charged with having struck the daughter of John Good-
child, a labouring man, in the forehead with a cleaver.
The prosecutrix said, her father and the prisoner lived in
the same house, and some words having been exchanged, the
prisoner inflicted a murderous blow upon the young woman's
forehead, and the cleaver would have descended with another
blow, which would probably have dispatched the prosecutrix,
had not her father interposed the strength of his arm, and
turned aside the blow.
The prisoner declared that she had used the cleaver in de-
fence of her life, which the family of the prosecutrix seemed
determined to take from her.