The Sun.
London, England, 1845-01-21 00:00:00

MONEY MARKET and CITY NEWS

FROM THE MORNING PAPERS OF THIS DAY.
CITY, MONDAY EVEWINC.

TIMES.—The rejection of various projected line; by
the Board of Trade necessarily produces dissatisfaction
among the parties ,interested ins the schemes, however
the soundness of the decisions mtiy be recognised by the
public at large. The Board of Trade appears as an en-
tirely new power in the field of railway property, and
while confidence is generally placed in its judgment, its
proceedings in each case are liable be be watched with
jealousy and criticised with severity. The voices raised
against it will usually be raised by interested parties,
but nevertheless, as recorders of public opinion, we
cannot let these expressions of opinion or of feeling pass
unnoticed, when so much property is at stake, and et.

large a power is vested is iGoVernment Board. It
must not be implied from the extract of the letters refer-
' ring to the subject that may be printed under this heart,
that we at all adopt the opinions they contain. Our
only motive is to give a hearing to all parties that ex-
press themselves with a reasonable degree of plausibility.
Several of these letters refer to the decision of the
Board on the subject of the Kent lines, and treat the pre-
ference given to the South-Eastern Company as tending
to form a spirit of monopoly. From one of these com-
munications the following extract has been taken :
" Whether viewed as to,iti engineering arrangements,
or as to the public service, in relation to the naval and
military depots connected with the line, or as to the feel-
ings of the proprietors of the land through which it,
passes, there is not an argument in favour of the prefer--
ence which has been so unaccountably given to the South-
Eastern line.

‘ I may be told that the decision is arrived at in car-
rying out a general principle; and that, after the course
adopted with regard to the • Portsmouth Direct,' no other
than this could be followed. Did time permit I could
easily prove that the two cases bear little, if any ana-
logy ; but, even if they do, I still join issue as to the
principle involved, and I contend that it is inconsistent.
with the public feeling as regards monopoly of every
kind ; that it is injurious to the public interest, as.
throwing an obstacle in the way of;every improvement
which is likely to arise out of the free employment of
capital upon works of general utility ; and, moreover.
it is at variance with the animus of a resolu-
tion on the minutes of the Lords of the Committee of the-
Privy Council, from which this Sub• Committee of the
Board of Trade emanates, for in the resolution to which
I refer the projection of even parallel competing lines is
evidently contemplated. They direct this Sub-Com-
mittee to look narrowly into auy • branch and extensiou
lines in cases where a presumption is raised that the.
object of the scheme is to throw difficulties in the way of
new, and probably legitimate, enterprises.' Now, what.
are the features of the scheme proposed by the Dover
Company, and approved by the Committee of the Board
of Trade ? The Dover Company originally determined
upon traversing the southern division of the county of
Kent. They cared nothing for the inhabitants of the
central or northern divisions ; but the moment an hide-
pendent line is talked of, coming through a populous d kii-
trict with which they had hitherto had no connexion',
they raised money in every channel through which
money oan be raised, and throw out branches to some
of the large towns which the new scheme is intended to
supply.
" But to return to the character of the decision come
to by the Board of Trade: the only entirely new line ten
which they have given their• approbation—viz., the
South-Eastern, North Kent, llungerford•bridge, and
Chilham, has. beside all other objections, no legitimate
existence. The required forms have not been complied
with, and they cannot move a step in their progress:
through the House of Commons without a relaxation of
the standing orders of the House in favour of monopoly."
Connected with the absording subject of railways is an
analysis, which has appeared in the Banker's Maga:ine,
of the proposed application to Parliament, with the re-
mark that it is a very good approximation, if not txactly
accurate. The number of not►ces is as follows:

"I. Notices by old Companies for Acts for short '
branch lines, minor deviations, and amendments of
legal clauses of existing Acts
2. Notices by old Companies fur important nrw

_
lines, as extensions, &c. - 30
"3. Notices by new Companies for new lines,
which are alternatives to other proposed lines
" 4. Notices by new Companies for lines which
are not alternatives 75

Total 'winner of notices q 37."

SUN.---English Stocks leave off firmly to-day, Cunsols•
being I -1,1: for Money, and 1001 for Account. Exche-
quer Bills were scarcely so nigh as in the morning.
The Three per Cents. Reduced were 100 i to 4. India
Stock for Account was 2881.
The Foreign Market was dull, but for Account
Spanish Three per Cents. advanced to 40 ; and the.
Vice per Cents, to ; Portuguese Converted were
; Colombian, were 14 ii ; Brazilian, 90 ; and
The additional transactions in Railway Shares have
been these —Birmingham and Gloucester were Si ;
Bristol and Exeter, 7 ; Bristol and Gloucester
135 ; Cambridge and Lincoln, 31 ; Churnet Valley,
to ; Dublin and Belfast, 2i 4 ; Edinburgh and
Glasgow, 13; Great Western, 96; Great Western, Halt;
52; Harwich, 1 ; Birmingham, Quarter, 26'. to 27 2 ;
South-Western, 38 ; Ditto, New, 104 ; Croydon. 2 ;
London and York, l 4 ; Manchester and Leeds, 60
Ditto, Half, 25; Midland, 30 to 32; Ditto, New, 8 to
Newcastle and Darlington, 41} to 42i; North British
:; to 31; Northern and Eastern Scrip, 14,i; Rugby, 18 ;
Shrewsbury and Birmingham, 1 to 1; South-Eastern,
15,i; Ditto, New, 17i; Yarmouth, 9; York and North-
Midland, 61 ; Ditto, Half, 30 : Boulogne and Amiens.,
211 ; and Paris and Lyons, 1;1 premium. Easterh
Counties have been 6 to 6 ; Blackwall, 9 to 8z ;
Greenwich, l to :4 ; Midland, Birmingham, and!
Derby, 2 ; and Portsmouth Direct, discount.

HER, MAJESTY'S VISIT TO STRATIIFIELOSAYE.—
The visit to Strathfieldsaye is intended to be of a more
private character than either of those with which her
Majesty has lately honoured any of her subjects, and'
the members of the press will not, therefore, all enjoy
the same extended facilities that they have possessed
elsewhere. The following characteristic reply from the
Duke of Wellington to an application for admission (not
on the part of the Times) will show that his Grace at
least will not allow the royal privacy to be unduly dis-
turbed :—" Field-Marshal the Duke of Wellington pre-
sents his compliments to Mr. , and begs to say
he does not see what his house at Strathfieldsaye has to
do with the public press."—Times.
UNION BANK OF AusznantA.--Testerday a special
general meeting of the proprietors of this company was
held at the office in Old Broad-street, City. The chair
was taken by J. J. Cummins, Esq. A report was read
by Mr. Jackson, the secretary, the substance of which
was the allusion to the late commercial distress in the
Australian colonies, which involved so many individuals,
commercial firms, and even some banking establishments
in ruin. The directors, however, spoke with confidence
of returning prosperity, and the trade now carried on,
though restricted, was of a sound and legitimate charac-
ter. The difficulties which still remained were con-
nected with a former period. The directors, in conclu-
sion, were happy to congratulate the proprietors upon
ttihweirpreensteinret
apositionpproba
toi
of
nt hoef bthanek'cosnadfluacitr
os ,f
Mr.d r.
mtoaepss
etarerin;
the inspector, throughout the period of commercial dis-
tress. The result of operations for the half year enableit
the directors to declare a dividend at the rata of six per
cent. per annum. The net assetsNrs,eoe
altusfoitunitnofdine,tfho3lst
al
changingDa r December
eon kf.
tt
heh ree
June,wer were, paidlst4 u4p2,sca6psli.ta7l,s.B2lold,o.o;OnLe;t
profit undivided36,f,o,r 4 profitpl.as:s h
3ftat
lf
(roieda.i.d:r,r eaisner
increasing
timesyAlirfateerct ot2orh4sfe,9winrsee3tpree.otrpi Itna6g:s .s.aaesid , when a vote ©f thanks was passed
to the directors a
the company, and the meeting ad-
journed.

ROYAL NAVAL BENEVOLENT SOCIETY.-A general
Quarterly Court of the members of this Society was held
yesterday at the Thatched-house Tavern, St. James's-
street. Admiral Sir Edward Codrington was in the
chair, and amongst the officers present were Lieutenant 4
heid, Andrews, and APLean, and Commanders Tyte,
Marshall, Iloughton, Whisht, &c. The minutes of the
previous meeting having been read and confirmed, docu-
ments showing the state of the finances were presented
to the meeting. It appeared that the receipts during
the past year amounted to 3,140/. 19s. Id. lit that sum,
2,1641. 18s. had been distributed in relief to the widows
and orphans of naval officers in distressed circumstances;
and after theepayment of the whole of the expenses, a
balance of 5951. remained in favour of the Society.
There had been 157 new subscribers, and 63 deaths and
withdrawals, during the year : and from a review of
the condition of the institution, it was found to be in a
more favourable state than it had been for some time
past. The accounts were passed, after which the meet-
ing proceeded with the examination of several applica-
tions for relief, and made grants altogether to the amount
of 5001. Thanks were then given to the gallant Ad-
miral in the chair, and the meeting separated.