The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1836-02-02 00:00:00

LAM B ETEi CONSERVATIVE'DINER.

• • Laanbeth, one of the metropolitan boroughs, has, it appears,
a strong body of conservatives within its boundaries and in its
vicinity. On Thursday upwards of four hundred gentlemen,
among whom were several members of parliament and a great
number of magistrates fur the county of Surrey, dined together
at The Horns, Kensington. The lion. R. C. Scarlett, in the
chair. Among the guests was Sir Edward Sugden, the late
Lord Chancellor of Ireland.
-On his health being drank, Sir Edward spoke at some length.
We take the following passages from the speech :—Now he
was on his legs, he would say a few words as to the principles
upon which the late ministers acted: and no set of men had
been more cruelly maligned. It had been asserted that the
conservatives, too, wished to crush the poor. Vas such the
fact ? (Cries of " No.") Mr. 'l. Attwood had recently so re-
presented the conservative body. Such misrepresentations as
these.oug,-ht to be mot by counter declarations—for unless they
were contradicted many of the lower classes might conceive
them to be worthy of credit. No men, he (Sir E. Sugden) would
fearlessly maintain, were so desirous to preserve the liberties of
the people : no men so anxious for their true welfare. The
conservatives would support them, bit they would also support
the throne and the church. (Loud cheering.) They believed
in that excellent maxim " Fear God : honour the King." It
was with pride that he (Sir E. Sugden) mentioned the people,
for he was himself one of them once—(hear, hear)—he had
sprung up from the lower orders. (Hear, hear.) It was one of
the great advantages in this country that the very highest offices
of state might be attained by one of the humblest individuals,
having perseverance, industry, and ability. The principles of
the conservatives were loyal, but they were not insensible to the
wants of an enlightened age. Sir R. Peel had shown to the
whole world what was his intention, and what he would have
done, had his administration gone on. (Hear, hear.) * •
• * Of the principle of the municipal corporation bill
he approved; but he objected to the great patronage which it
gave the ministers. It would have, he believed, a bad effect on
the profession to which he belonged, for many young men would
gladly seize hold of the £BOO or £1001) per annum, which was
paid on being made commissioners, and then their professions
would be disregarded. It was also wrong in principle to make
politics a stepping-stone to such preferments. Qualification was
what ought to be looked at rather than political opinions. lie
could not tell how ministers would be able to explain the hasty
law appointments, if it were intended, as was rumoured, that
the duties of the Lord High Chancellor were to be divided. If
there was such a plan provided, why had the hasty appointments
been made ? Why was it that the Master of the Rolls had been
created a peer ? (Cheers.) What reason was there fur taking
him from his own court, where his duties were so great, into the
House of Lords ? (Hear, hear.) Were peerages of so little
value ? (Laughter.) A third coronet was placed upon a brow,
which, no doubt, became it, but an explanation as requisite.
All these matters would be forced upon the administration.
With regard to _lreland, too, much investigation was requisite.
For his own part, he confessed he could see nothing but one
mind directing the affairs of that country—(cheering,)—he saw
but one object, viz., the depression of the protestants—(conti-
nued cheers.) There were, however, hard stones )o be applied,
and these would be applied in due time.' It had been the prac-
tice in times of difficulty, with these ministers, to throw out a tub
to catch a whale, but now there were more whales than tubs.
(Laughter.) He believed there was a union with certain parties
and ministers, notwithstanding what had been asserted to the
contrary; and if their measures assumed that course which he
expected, be should have no hesitation in declaring them bound
together body and soul. ( Hear, hear.) If-the Irish corporation
bill assumed that shape, whirls was rumoured it would, there
would not be a single conservative member returned for that
country. Ile was clearly of opinion that there must be an early
dissolution of parliament. (Hear, hear.) Even the Whigs
could not deny that the last whig parliameht had been long dead.
I call upon you," concluded the right hon. gentleman, " to
be up and stirring. (Loud cheers.) No man is worthy of the
name of a conservative who spares either time or labour.
(Hear, hear.) Let every man therefere exert himself as if the
cause depended upon himself alone. I call upon you so to ac'
and rally round each other."

EXTENSIVE FRAUD ON THE STOCK EXCHANGE,

(From the Observer.)

- The principal portion of the attention of the members of both
Stock :Markets throughout the day has been drawn with some
anxiety to an extensive fraud which has been committed on
some of the members of the market, by which it is apprehended
that they will sustaiu losses to the extent of front £12.000 to
£14,000. The principal facts connected with this transaction
are these :—The delinquent party is a Mr. Lakeinan, who, we
understand, has for some time been engaged in transactions in
the foreign funds, and was, from the previous promptitude with
which he met his engagements, on great credit. Yesterday
being the settling day in the Foreign Market, Mr. Lakeman
took a considerable amount of Spanish and Colombian Stocks,
in all exceeding £20,000, and paid for them by checks crossed
in the usual manner for payment through his bankers. As soon
as he obtained possession of the bonds, he went to a highly re-
spectable firm with whom Lakeman had previous dealings, and
desired them to sell a portion of the stock for ready money,
which was immediately done, and a check given, which Lake-
man got cashed immediately. It is also understood that he ob-
tained for some of the notes gold at the Bank of England.
These operations were all completed before the usual clearing
hour (5 o'clock,) when it was discovered that Lakeman's bankers
had not sufficient astets to meet the checks which had been
given for the purchase-of the stock. The fact was soon com-
municated to such of the parties who were still in town, and a
considerable degree of sensation was excited in consequence.
One individual will sustain losses to the extent of about £6,000;
another member of the Stock Market to the amount of nearly
£4,000; and others for £l,OOO and under. Immediate steps
were taken by the principal sufferers to apprehend Mr. Lake-
roan. Application was made to Mr. N. M. Rothschild (it being
post day, and an express to the Continent being nearly ready
to start from his establishment) to forward the particulars of the
transaction, the numbers of the notes so far as could be learnt,
and other details, to prevent the. negotiation of the Bank notes
on the Continent, and to detain, if possible, the individual,
should he go abroad. The great Hebrew capitalist immediately
offered to do all in his power to give such information by circu-
lars to his agents in all the principal cities on the Continent.
Measures were also taken to police-officers to the outrerts, and
to give such information as might lead to his detection. It was
stated during the day that Lakeman has had a steam-boat for
two or three days at Woolwich ready to start at a short notice,
and that he has proceeded across the channel in her. As he
was connected with the fishing boats, it is not improk>able that
he would'Proceed to sea in one of them, and take the chance of
getting on bOard an outward-bound ship. There have been also
assertions made,that he has carried off a considerable amount
of bonds belonging to other parties. It is more than probable
that he has with him considerably above £15,009. Such active
and extensive measures having been taken to apprehend Mr.
Lakeman, it is considered almost certain, unless he•secrete
himself in London for some time, that he will soon be appre-
hended.
To-day a meeting of the members of the Stock Exchange
who have been affected by the transaction wi4 held, and the
result has been, that one of the members of the house has been
compelled to submit to his being declared unable to meet the
engagements upon the last account on foreign stock owing to
the loss he has incurred by the the conduct of Lakeman.
Another question has arisen out of the transaction which is
of importance. -We have already said that some of the checks
connected with this transaction were paid. It being a rule of
the stock market, in cases of payments for differences on time
bargains, that one member should not retain any amount he
may have received on account of the settlement of transactions
which lead to the defalcation of a party, while the claims of
others remain unliquidated, an attempt has ben made to apply
that rule to the present operations connected with the Stock in
question. Upon this point, which recollecting the immense
transactions carried on by means of checks, is one of great impor-
tance, much difference exists. The cummi'tee of' the Stock Ex-
change met this afternoon, and continued in deliberation for a
considerable time, discussing the point, but without coining to
any decision, the question having been adjourned until Monday
next. It is contended by many, that as the sale of the bonds
was a bonajide transaction, those who have been fortunate to get
their money have uo right to refund it for the benefit of those
who were less lucky.

It was reported late in the evening that Mr. Lakeman is
insane. It was also stated that he had been taken into custody,
but we could not leant that there was any authority for the
rumour.

A circumstance very similar to the above transaction took
place about the year 1806, when a party absconded with a con-
siderable sum obtained in the same way. He was traced to the
Isle of Man, apprehended there, and brought to London, when
it was decided, after several examinations at the Mansion
House, that be could not be detained, as he had given checks
for the stock, which reduced the claim into a simple contract
debt.
Amongst the money given for the bonds to Lakeman, were
four Bank of England notes, value £lOOO each, which notes he
afterwards changed at the Bank of England for eight bank
notes for £5OO each. He also received a bank note for £3OO
a note for £lO and a bank note for £5 all the numbers of which
notes were known. The £5OO notes were numbered from 5679
to 5686, 19th January, 1836, inclusive; the £3OO note was num-
bered 7670, 6th Januar., 1836; the £lO 19,115, 14th December,
1835; the £5 24,461, 13th December, 1835.
Lakeman, it is said, obtained on the same day, by fraudulent
means, stock from one party f0r.£6200, from another for £5950
and from a third for £2OOO all of which he sold.
It is rather curious that this is the person who induced Lord
Bexley, the Earl of Devon, and the other proprietors of the
Hungerford Market to make a wholesale fish-market of that
large concern, and to go to such ruinous expense in endeavour-
ing, by hiring all the fishing-boats to ply to Hungerford Mar-
ket, to destroy Billingsgate Market. The steam-vessel, too, of
which Lakeman is said to he the sole proprietor, happens to be
the very vessel which he prevailed upon the company to pur-
chase to convey salmon from Ireland, the first batch of which
was condemned astitinking fish by Mr.-Guldiaminrilre- eferk of"
Billingsgate.