The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-08-03 00:00:00

TO CORRESPONDENTS.

The "Original Poetry" by "J. W." shall appear in our
next.

We are requested to acknowledge the receipt of the following,
subscriptions, collected for the widow of the poor, man who
was killed on the day of the coronation :
£. s. D.
By Mr. Penn, Corporation Baths
By Mr. Davies, Mann's Island 2 0 0
By Mr. James, Ditto
By Mr. Penn, (additional)

'Ube ilibrupool g:tanbarb.

FRIDAY MORNING, AUGUST 3, 1838.

The Publication of the STANDARD commenced this
morning at 5 o'clock.

FOREIGN INTELLIGENCE.—Our foreign news is
ex-
tremely barren of incident. From Paris we learn fliat
the accustomed farce of the " three glorious days" was
acted without any accompanying circumstances of the
slightest interest.• On the whole, indeed, t herdte this
year may be pronounced a complete. failure. Great
preparations were undoubtedly made, but the unpro-
pitious state of the weather-casta -general (Imp over
the rejoicings. The fireworks failed—the illumina-

tions were nearly all put out—there were no grand
reviews—there were no marriage portions given to the
fair expectant damsels—there were no presentations of
the Parisian snobs, dignified by the title of the heroes
of the barricades, at the palace of Louis Philippe. In
short, the reign of dulness was unbroken throughout

the " gay city" of Paris. The political news from
France is equally uninteresting. The Spanish papers
give us no intelligence from the seat of war. A de-
cisive engagement was expected to take place about
the 20th ult. From Portugal the accounts,nre by no
means of a cheering character.. Several insurrection-
ary movements have recently taken place in that dis,
tracted country. By letters from Odessa w•e learn that
the Russians had obtained some advantages over the
Circassians, and that the whole of the 'shore of the
Black Sea was in the possession of the former. Great
preparations are making in Austria to give eclat to the
approaching coronation of the Emperor..

THE STATE OF IRELAND.—\%e have I epeatedly as-
serted that almost all the outrages which are perpe-
trated in misgoverned, wretched, and Popery-ridden
Ireldnd, oNe their origin to the inveterate hatred en-
tertained by the Papists against the Protestants—a
hatred prompted, fostered, and encouraged by the
"bachelor corporation" of priests from the Mavnooth
and other colleges in which the infamous doctrines of
Peter Dens are sedulously inculcated. We have long
remarkedlhat there is a very great difference between

the impelling motives which lead to the commission of
flagrant crimes in England as compared with Ireland.
In this country there are very few cases of murder, or
violent personal assaults, which may not be traced to a
desire of obtaining possession of the property of the
person attacked. In Great Britain money is the great
incentive to these dark crimes: in Ireland thecase is
far different. There the principal motive seems to be
revenge—cowardly, brutal, and unjustifiable revenge,
against the gratification of which the " fathers con-
fessors" never venture to declaim : and the worst fea-
ture in the case is, that this revenge is hallowed by a
sort of religious sanction.' The wild and barbarous
Irishman fancies that he is doing God and the
" Church" a service by lying in wait for the innocent
blood of a Protestant, especially if he be a clergyman.
The blood thirsty villain is taught from his very child-
hood to hate his Protestant neighbours, and to seek
every opportunity of compassing their destruction.
Facts of every-day occurrence prove. too truly that
such is the feeling with which every Protestant is re-
garded by the Papists of Ireland. Nor most we cast
out of sight another powerful stimulant to crime which
is cunningly urged by the Popish .priesthood in that
country. It is well known that a secret conspiracy has
long been on foot in Ireland for the purpose of recoveri rig
posseSsion from the English of every foot of, territory
now enjoyed by the latter. This is the object of the
Ribbon confederation. It is carefully instilled into the
minds of the poor peasantry by their spiritual advisers
that the Samnaghs—the alien conquerors of Ireland
—have no right whatever to hold or to dispose of one
inch of the lands which belonged to their vanquished
forefathers. What would be thought of such a con-
spiracy among the Welsh—the aboriginal inhabitants
of Great Britain—for the purpose of regainin;: all

those lands which were • taken from them by the Sax-
ons, the Danes, and the Normans Wbtildan one
have the audacity to defend such-a foul and uniustitia-
ble plot ? Yet such a plot is now in active existence
in Ireland. The Ribbon system: has its ramifications
in every part of the island, and contemplates' the de-
struction or expatriation of every man of EngliSit de-
scent who is now in possession of Irish property.
O'Connell knows thiS—the priests know it—our vir-
tuous whig ministry know its—and yet O'Connell is
encouraged in his-Ribbon agitation by ,Englishmen--
the traitorous priests areencouraged by Englishmea in
their nefarious trampling with the consciences of the
conspirators—and the whig ministers have also their
supporters among the race proscribed by their Popish
patrons. Such a guilty participation in the plans of
the murderous Ribbonmen on the part of British sub-
jects, professing loyalty, and claiming the title of Pro-
testants,-is shameful in the highest degree.
The last received Irish papers contain accounts of
numerous fresh instances of brutal and murdet ous as-
saults, which we have only space briefly to enumerate.
An attempt was made on Saturday evening last to as-
sasinate a Protestant gentlemen, Mr.- Edward Smith,
of Catewood, near Shinrone, as he was proceeding 1°
lock the gates-ef-his awilaar,.l,t
fired at him from behind a tree, (Irish cora/died
again,) and a ball or slug was lodged in the bar of the
gate which he was closing, and another passed undo'
his arm. The only assignable motive for this attacl‘
is, that Mr. Smith was a Protestant,
The next case which we shall have to relate is one
which stamps the " finest pisantry" on the face or the
earth as rank madmen, as well as cowards. Sorne
time ago a Scottish gentleman of the name of Hector
embarked his capital and enterprise in the - fisheries
near Ballvshannon, and by the extensive employment
which he gives, and the superior skill which he ll°
introduced, he has rendered incalculable service t°
that part of the country. But mark the return.
conspiracy was entered into to destroy his property
5
and to attack his person. The Dublin Gazette has
already borne witness to the losses and sufferings
which he has undergone. But from the follosiog,
proclamation, which appears in the Gazette of
rtles(
last, it appears that all who hold communication "1.11
Mr. Hector are equally proscribed:—
• 111.4 3
DUBLIN CASTLE, JULY 31.—1 n the month of J0n!,5310.-
threatening letter was sent through the postotlice "t. her
shannon, addressed to Mrs. Tredennick, threat""6 %%101
husband, the Rev. George Tredennick, of KirkablY9,:o, a
death, in case he should hold any communication
person of the name of Hector; and on the night•of
on the t
the 28th instant, runic inhuman wretchcg went up
of Cloouien, near the town of Bailysbannon, in the and
Donegal, the property of the Rev. George Tredenmicrgu,aievt
tY
destroyed two of his cows, by running a large iron In, r
into their entrails—his Excellency, for the better a.Pl's%dit”.,
ing and bringing to justice the persons concerned re-
the above threatening letter,
ward of one hundred pounds to any person or perse.,_,nsii,u
.
shall give such information as shall lead to their app,r(ll%)o(.ls.
and conviction; and also a reward of one hundrr.,lltt'liiany
is hereby pleased to ottio,'. who
take part in 'the above barbarous outrage, who sha
and a free pardon to any accomplice who did 111(11
information as shad lead to the apun
prehension ut ' v.
Da ono .11
or persons concerned therein. '
Who would ever think of embarking c"P a,
• ►gr
of fr's
Irish speculations after such a specimen ,
‘titude
sever other
The Irish provincial papers- contain
'ye such

offers of rewards for the apprehension of parties guilty

savage assaults, one of which we shall introduce
as an additional proof of the cowardly disposition of
the blood-thirsty Papists :

Whereas I have received information that at or about the
hour of ten o'clock on the night of the 17th of July instant,
a party of men, consisting of about twenty in number, one
of whom was armed with a pistol, the others with bludgeons,
attacked the house of Michael Smith, of Kilamoonev, parish
of Annagelliff, and barony of Upper Loughtee. The party
broke in Smith's door, dragged him out of his house, beat
hint in a most savage and unmerciful manner, and inflicted
seven cuts on his head. Now, for the better apprehending
and bringing to justice the perpetrators of the said outrage,
I do hereby offer a reward of thirty pounds to any person or
persons who shall, within six months from the date hereof,
give such information as shall lead to the apprehension and
conviction of all or any of the persons concerned therein.
Cavan, July 28, 1838. JAMES LITTLE,

Resident Magistrate, County Cavan.

For the present we shall only draw the attention of
our readers to two more cases. In our next we shall
have more room, we hope, at our disposal, when we
shall have an opportunity of enumerating a list of
atrocities committed in the present week, to which the
history of England for a whole year can scarcely pro-
duce a parallel. We close our present account with
the following :

COUNTY LEITRIM.
MURDER.--The body of a man named Peter Shanley was
found murdered on Saturday last, within a hundred yards of
the town of Mohill, from the market of which place he was
proceeding home. His skull was fractured with several
blovrs of a hatchet. The body was found covered up with
weeds. Six persons are in custody on suspicion of being
concerned in this sanguinary deed. -A man named M'Manus
is also missing from tie same neighbourhood.
COUNTY WATERFORD.
Disnotacm, COMBINATION.—Some infamous wretches, in
order to their base designs of ruining an honest and industri-
ous citizen who had the manliness to resist their vile combi-
-I:L6°u, to force him to part with an efficient operative in his
t-17°Yment, have had placards printed, and posted in
• e mast conspicuous parts of the city, and circulars exten-
sively issued of a most offensive nature, which, were not his
i-„araeter too well known, and the respectability of his estab-
.7meut too firmly confirmed, would have a tendency to
tduJure
-mu materially in besiness. Mr. Wilson, the indivi-
(C` alluded to, has offered a reward for the apprehension of
e miscreants, or information relative to the " respectable"
Printer concerned in the conspiracy; and we are certain
:Try Well disposed person in the community will willingly
the )4 the matter if possible. It is but another step to ondct
. vitriol thrower of Glasgow, or the Billy Welters of Dub-
lin, in Waterford, and most cheerfully would the authors of
suchseile a production, we have no doubt, lend themselves to any
their interests,
matter how vile or murderous, did they imagine
.r interests, however trivial, affected by it. The orderly
"gasmen of the city should at once clear themselves of any
f...lu!sieipation in this affair, and assist in bringing to justice
if,.ll°.a us who are a disgrace to any class of operatives.—
aterford Mail.

°wing to the number and length of our local re-
ports this day we are obliged to defer several original
articles until Tuesday next, when we shall be enabled
to bring up our arrears. The same cause has rendered
it necessary for u 4 to omit a large mass of miscellane-
ou's intelligence already in type.

THE IRISH TITHE QUES___.____
TION,-INCREASE OF
PROTESTANTISM.

(From a Correspondent.)
According to promise we proceed to lay before our readers
the true state of this question. In the first place we have to
remark that there is a lamentable misapprehension, as to the
tendencies and result of the proposed measure, visible in the
conceptions which most thinking and intelligent' Englishmen
Whether oral or written have made public. They appear to
legislate for Ireland as they do for England. They place in
one respect and one alone the Irish Protestant church upon
the same equality with that of England, and they imagine
the security of the one must necessarily involve the perma-
nence of the other. Now there is no analogy whatever be-
tween them save in doctrine. Their temporalities are ren-
dered wide as the poles. Where is the minister of England
who would have the hardihood to deprive the episcopal mitre
of his country of ten of its chiefest jewels? And yet such
has been clone in Ireland. Political pirates have been long
with the Irish church establishment, and their chief plunder
has been of the defences of the sanctuary. Economy, has
been the leading profession of the present ministry, and they
began well by beggaring the Irish church as an earnest of
their saving disposition. This brings us to ask a question
which we wonder has never before occurred to the minds of
the speculators upon ecclesiastical matters, it is this—whence
arises the necessity of the distinction of the " Irish church?"
Why are the two establishments to be placed in contra-dis-
tinction? What need is there of erecting a rivalry or rather
a divorce between them ? Are they opposite in doctrine? Are
they schismatics in theory? Are they aliens and exiles from
the faith and hope which bound their ancestors together?
Has the Irish church, taken in a collective sense, forfeited its
character, compromised its purity. or earned by its perver-
sion this worse than papal interdict, which has been thun-
dered against it? Is the spiritual creed of the Irish church
different from that of her legitimate sister? And is the bas-
tardy of her connection to extend to the deprivation of her
hope hereafter as well as security here? If aplainfree-spoken
negative be the reply to these interrogatories, what is to be
said of the principle, which, to suit the purposes of a party,
is industriously circulated, of a separate ecclesiastical polity
for Ireland, and the necessity for a description of legislative
expediency corresponding thereto. For our own parts, and
we profess to know much of Ireland, we can answer the
question, that the very admission of such an anomaly in a
Protestant state like England, is putting in the right hand of
the incendiary, the most destructive weapon he can wield.
Reason with him on the point and be meets you at once with
the plausible assertion "that it is unjust for the majority of
the population to pay for the religious comfort of the
mi-
norrly." He will probably go further. He will tell you of
the monstrous injustice of supporting, in a forced ascend-
ancy, a church, foreign to the feelings, prejudices, and na-
tional chatacteristics of the great bulkl of the population!
Can such a man be answered with effect while there is the
very implication of such an inconsistency as a division of the
church? No! grant him but this and he is triumphant.
He cannot be beaten back from his ground of assumption
when you place millions at his back to urge battle against a
few isolated thousands. But fling to the winds the nation
that there is anything like an Irish church polity. Make
the protestants of Ireland, as they ought to be, an integral
portion of the fellow-believers of the empire. Destroy their
existence as a sectary, and sum them up in the calculation of
the aggregate tenants of the nation; do this, and vou can
toss back to him, with satisfaction, his theories of "injustice"
or "partiality." hitherto Protestants have patiTe d
inthteegtrviat;
fur the march of their enemies by compromising t
of their church. They have associated a division in name,
without a separation in reality, of a body whose whole
strength is union and indivisibility of purpose. And what
has been the consequence? The agitators of Ireland have
hurled the fiercest defiance against the breach which has
been thus created. We have shown them a sidealoor in the
sacred edifice, and it will not be their fault if they do not
make the portal good. We ourselves have presented our
vulnerable side to the enemy, and it can be no wonder to
find them stabbing at the sore.
Thus it is, that in all the debates on the Irish Tithe Bill,
there has been neither allusion or reference to the growth or
spread of the faith, which ought to be the primary object of
• an English cabinet. The dictates of 111 r O'Connell are
obeyed implicitly. The petitions of every brawling political
Section of a discontented province are taken into considera-
tion., ,There is not a beardless swaggerer, whose tongue is
busy with what his head cannot understand, who, if he speak
about the Irish Tithe question, that is not listened to with
applause and attention; that is, by the ministerial party.
But where shall we find a combater for the future hope of
Protestant Ireland? Where shall we find one to stand up
iu the assertion that in legislating fur the temporalities of the
Irish churl h, English ministers are considering the positive
amount of present popularity, not the anticipation of
Prospective good. " Expediency" is the letter and the
spirit of their law. Years ago, the celebrated patriot of Irish
hiStory, GRATTAN, said—"expediency is a word of implied
and tyrannical-import," he spoke with a spirit of prophecy,
if We refer his lan.,nage to the acts of the present official poli-
ticians. It is expe7dient for them to maim the Irish church—
it is expedient for them to lop off its branches—it is expedient
for them to hew and hack at its root in the vain hope of check-
ing it* growth. But it is nut expedient for them to encourage
Protest autism. Our present ministry discard the notion. It
i* not the fashion of the day. 'Pope, y, more vicious and in-
tricate than in its worse dais of Italian ascendancy, has poi-
soned the palates of our statesmen; they have no stomach
for any dish that has not the flavour of a Roinish seasoning.
But slit Englishmen endure this with impunity to the
(ag-
gressors ? Wit' they tamely look on while the very vestibule
:.f r4their religious consistencyie
profaned by the tread of
t tigers? Are their owl) hands like
like those of the Roman
girl, to unbar the gate of their count 's citadel, to be rewarded
like her, by a death from the shields of the invaders? For-
bid it Justice, and deny it Hope ? The spirit of a Hampden
and a Latimer is nnolt, et extinct in England. The fire upon
the national altar
i)%•lild esmouldering, hut it is not yet ex-
tinguished. if man.
for the temporalities of
the Irish brrct
hettiiricr shi dt re
they
haaret,
butin legislating
consulting
the necessitiesorpe
fthseeNresent time ; and that the whole end
proposed and aim of the
tneasure is to restrict and contract,
rather than expand i promote the verty of their
Christian security; then,bh indeed, Hope woy ulvita hliave a staff
to lean anupon, while • e would "lift her radiant'
another and a better condition of things}et
But the bitterness of the t
and old fashioned.
English men think these notions ob-
soletenovelty, and it it must needstnatleislhriosiiiiinreiopnuicoannisamtoausriotsf
finger"to n co te o
is
.
chartered guide. We conclude for the present.

Miss SHIRREFF.--MISS Shirreff's benefit at the Theatre-
Royal takes place this evening. The bill is a very attractive
one. We hope this charmingsongstress will have a bumper.
We beg to call the partienlar attention of shipowners, car-
penters, &c. loan advertisement in another page, " Improved
patent felt, for sheathing ships, &c." We are assured by
the patentees, that since the Ist January this year only three
vessels have been sheathed in London with any other de-
scription.
- The second of a series of Balls took place on Monday
last, at the Castle Mona Hotel, Douglas, Isle of Man, which
was most numerously attended
by all the fashionables in the
Island. Dancing
10
the
morning, was kept Up with great spirit until early
Phillips's Band was re-engaged for the , occasion, and played a number of Musard's Quadrilles, and
Strauss's Waltzes-. During the evening the same band per-
formed, the Victoria
Grand Concertaute March with military
instruments.
ZOOLOGICAL GARDENS.—A grand gala is announced to
take place at these gardens on Monday next, under the pa-
tronage of the Worshipful the Mayor. A very magnificent
display of fireworks will be exhibited : the illuminations are
he vot up in regular Vauxhall style. The eruption of
fount Vesuvius will also take place. As the pyrotechnic
department is to be under the direction of Mr. D'Ernst, who
stands unrivalled in the mysteries of his art, a very rich treat
may be anticipated, while the fashionable company expected
will give the gardens a most animated appearance.
LtvEaroot, ASSIZF.S.—The Assizes for South Lancashire
will commence on Friday next, the 10:h instant, in this town.
The Judges, Sir E. n.Alders.wn and Sir John Williams,
are expected to arrive on the preceding afternoon, when the
Courts will be opened in the usual form. Sir John Williams,
though he practised so long on the northern circuit as a bar-
rister, has never before been here as a judge•
The following extract from a communication by Captain
Wheeler, relative to the return to this port of the brig Lamina,
for Vera Cruz, with her outward cargo, will be interesting to
mercantile readers.
Ido " On the 2d inst. 1 arrived off the port of Vera Cruz, when
my great disappointment, 1 found the harbour strongly
ickaded bv a squadron of nine or ten French men 'of war.
I was soon bearded by an officer from one of them, a brig, who
demanded the ship's papers, which he endorsed to the effect
that all the ports and harbours of Mexico are in a state of
blockade, and if I touched at any of them I should be subject
to capture of ship and cargo. After this note he concluded
this unweicoine visit with ordering rue off immediately."—
Brig Laurina, dated 24th June, in Ist. 24, lon. 81.
" Crays, Anderson,* Co.

MEETING OF THE GRAND JUNCTION
RAILWAY PROPRIETORS.

On Wednesday the =atm! meeting of the proprietors of
the Grand Junction Railway was held in the Cotton Sales
Room, at which about 200 proprietors were present, for the
purpose of declaring a dividend and electing three directors,
in the room of Messrs. Charles Lawrence, William Ritson,
and William Rotheram.

Mr. Moss, the chairman of the directors, occupied the chair,
and he commenced the proceedings by calling upon the sec-
retary to read, first, the notice calling the meeting, and next
the directors' report. Afterwards the treasurer's accounts
were read, detailing the receipts and expenditure, and like-
wise a statement of the expenditure on the capital account.
There appeared to be some anxiety to prevent these accounts
finding their way into the newspapers, and therefore we can-
not give the particular items as in another coluain from the
accounts of the Liverpool and Manchester Company. It is a
work of great difficulty, if not altogether impracticable, to
take down the separate items as they ape read, and as this
was the only means we had of procuring for our readers the
requisite information of the state of the company's affairs, we
prefer rather not to make the attempt than to misquote the
company's documents, especially as we hope at au early day
to be able to procure the information we desire. _

The mode in which the proprietors were ptit in possession
of the statement of accounts was commented upon by Mr.
COG LAN, who asked the chairman whether it would not be de-
sirable to print the accounts, as the proprietors with the most
retentive memories could not carry away the mass of figures
read over, and it was not practicable to take them down du-
ring the reading.
The CHAIRMAN replied that the publication of such ac-
counts had been found injurious, and therefore the directors
would give to them other publicity, but if desired, they should
be again read over.
Mr. War. EARLE, in reference to a portion of the report re-
commending the creation of half-shares to pay off certain
loans which they company had obtained, inquired whether
there was not an attempt in the new project, to give a greater
apparent dividend to the proprietors : he objected to quirks
of any sort, and he thought if they could not give the propri-
etors five per cent. fairly, they had better not give it at ali.
The CHAIRMAN said the directors had stated the facts fairly
in their report, and it was for the proprietors to give their
opinion, and to adopt or reject the proposal.
Mr. MortEy rose, and observed, in the hurried way in
which the accounts were read, he had not found it possible to
take down all the figures—he had, however, taken some of them
and he desired to ask a few questions thereon. He, in the first
place, wished to ask the chairman and the other directors
whether the statement of figures read came to the proprietors
as a statement of figures authenticated by•the board of di-
rectors? what course was adopted by them in the auditing of
the accounts? whether the,stated expenditure was the amount
really and bona fide paid during the half-year' whet her the
payments were all collected from vouchers, and whether the
sums mentioned were the real net receipts ? He wished,
then, first, the proprietors to be informed what course the
directors adopted previous to the bringing of the accounts
there, to be adopted wholesale by that meeting.
The CHAIRMAN replied that the accounts were first sent to
a committee of directors, to whom they were sent for exami-
nation, but as Mr. Chorlev was better acquainted with the
subject than he was, probably he would answer the question.
Mr. CHoil LEY stated that the receipts were made up weekly,
and at the end of the half-year the results were collected to-
gether. The payments were made from vouchers and from
accounts sent to the directors, and by them to the sub-com-
mittee, by whordthey were examined before paid.
Mr. MoiLEy.—Then the sums were taken from vouchers•
sent in during the current half-year for work done during
that period ?
The CHAIRMAN said it was so.
Mr. MOZLEY said his next question was as to the locomo-
tive power. He did not understand, on the reading of the
report and the statement of accounts, the meaning ofi a divi-
sion of expenditure, recommended by the directors. Did
they not, he inquired, contract for the manufacture of their
engines ?
The CHAIRMAN replied that originally they did.
. .

Mr. Mom,Ey then remarked, that suppose a given num-
ber of engines was sent in, and they were not equal to what
they ought to be, at whose expense would they be repaired?
The CHAIRMAN said that would be better answered by
somebody in the engineering department, but he should
think the expense would fall on the company.
Mr. MOZLEY asked whether that would be so, when the
non-performance of the work of an engine arose from the
engine not being manufactured sufficiently effective fur the
purposes intended ?
The CHAT AN thought it would.
Mr. MOZLEY remarked, that during the last half year the
company, in consequence of engines not being effective for
the purposes intended, had lost £14,000. (Several voices,
" £10,000.") Mr. Mozley repeated his statement.
The CHAIRMAN said the loss was on engines ordered pre-
vious to the last half year, which, he believed, were ex-
tremely defective, and not such as the company ought to have
had. But he did not understand locomotive power himself,
yet he could see they were not such as the company ought to
have, nor such as they would order now. Perhaps Mr.
Earle, or somebody that understood the subject would give
some explanation.
Mr. MOZLEY was sure Mr. Hardman Earle would give
any explanation in his power, when asked the question, but
at present they had better confine themselves to the course
which they had been pursuing.
The CHAIRMAN said Mr. Mozley was asking him as
chairman, questions which could be better answered by
others.
Mr. MOZLEY remarked, that the chairman had answered
very satisfactorily. He then continued to observe, that he
believed it was stated that their engines had caused a loss by
the non-performance of the work for which they were in-
tended, of £14,000 in actual cost of £36,000.
Several PROPRIETORS said £12,000.
Mr. Mozi,Ey said he could not catch the firrures, as they
were read with much rapidlty, but at least there was a loss of
E 12,000.
A PROPRIETOR.—No doubt of if.

Mr. MOZLEY.—Then he took it that the working with
steam power had really cost what they bad positively paid for
it, £36,000. They could not take it in any other way.
The CHAIRMAN said, all the 25 engines first ordered broke
their axles.

Mr. HARDMAN EARLE said some one way and some
another.

Mr. BOOTH BY was desirous of making a few observations
respecting the expenditure in the locomotive department.
The CHAIRMAN said the expense in that department could
not be all called the half-yearly disbursements. The direc-
tors were of opinion that much of it' might have been saved
if they had had different engines; and they were of opinion
also that much expense thereby incurred was the same as the
expense incurred by the Liverpool and Manchester Railway
Company, in laying down new, in the place of defective
rails, wh►ch was charged on the capital, and not on the cur-
rent accounts.

Mr. BOOTHBY again remarked that they had contracted
for certain engines; but if those engines were valued to tha
company at £12,000, and they were not worth so much, he
could not understand why they should throw that charge on
the stock of the company, and pay a dividend of £5 per
cent. It was a dead loss to the concern. The directors had
tried an experiment which had failed; another might be tried
next year, and instead of £36,000 they might expend £46,000
in the succeeding half year, though they were led to expect
greater perfection in their engines; and he would ask how
such an expenditure as the £12,000 could be justly charged
on the capital stock, to which it added no value. (Applause.)
As other matters would occupy their at!ention, he would
move at once that the £12,000 be added to the disbursements
of the half-year, and that a dividend be paid accordingly.
MT. LAWRENCE HEYWORTH differed from Mr. Boothby
in tote. The engines had cost £36,000, but that they ought
not to call that capital, because they,were not worth £36,(X)0,
by £12,000, was no argument at all. A railway might cost
EGOO more than another of equal value in usefulness, and
,who would not say that that was capital expended, or that
they ought not to call it capital ? In ordering engines they
ordered the best according to their opinion at the time, and
they cost £36,000,
and if they could now order like engines
for £24,000, they would be so much the more benefitted for
the future. But they had now laid omit the money, and to
make the engines work they cost £36,000. It was as palpa-
ble as noon day Mr. Boothby, in the flights of his imagina-
tion, would seem to have supposed that that expense was to
go on, and that therefore it must be added to the current
expenses of the half-year, or some such nonsense; but were
they to perpetuate disadvantageous circumstances ? The
sum expended was part of their capital, aqd as such he would
propose that it be added to the capital.
Mr. JAMES HEYWORTH said Mr. Boothby seemed to
assume that they were to appropriate a portion of the capital ;
but the directors had merely stated all the facts, and they left
the proprietors to deal with them as they pleased.
The CHAIRMAN also said they had stated two plans, and
they left it to the proprietors to adopt either as they ;night
determine.

Mr. LAWRENCE HEYWORTII again indeed that the £14,000
be added to the capital, and
Mr. BooTtißY asked whether they ought not to adopt the
same principle as in their mercantile concerns? Before they
made up their accounts, they took the value of their stock,
and in their account of capital they ought to take the value
of their engines in the amount of their stock, before the
dividend was declared. If they had improved their stock by
what they had laid out, that ought to be added to the capital;
but if their stock was of less value in June than in January,
notwithstanding all the money laid out upon it, it was only
fair that it should be so taken—that was the only fair way
their accounts could be made up.
Mr. COGLAN wished, before it was determined whether the
£14,000 should be carried to the capital or to the current
expenditure, to ascertain on whom the loss would fall. They
had ordered locomotive engines from contractors on a certain
principle, and it appeared that when they came into opera-
tion the axletree broke, which must be attributable to a want
of strength or to some defect in the axle, which would be
clearly traced, he hoped, to the contractor. If so, was not
the contractor liable to make up the loss? But if the defect
was traceable to the directors not giving a clear statement
and description with the agreement, then it would fall on the
company. If, however, there was a clear specification of
the mode in which they should be made, and the contractor
had not made them according to the specification, then the
item should fall on the contractor, and the difficulty about
which they were debating would be removed at once. He
begged that they might clearly understand that part of the
subject before they proceeded.
Mt. HAtioxiari EARLE regretted that that discussion had
taken place in the absence of their engineer, whose reputa-
tion it affected. He went on to state that the specifications
when given were considered sufficient and ample, and before
signing they had undergone a good deal of discussion, and
the engines were made according to them. But the con-
tractors had each their ()an fancies, some of which had
proved advantageous, and for which they were much in-
debted ; but others were bad, and had altogether failed. But
they were much in want at the time, and they had taken
them knowing them to be bad—(hear)—conceiving that a
bad engine was better than no engine at all. Some were
required for the completio❑ of the road, and they were used
before it was opened, and then required a good deal of repair
before they could run with a train. Some of the axles were
not of sufficient strength, and many broke; but some were
running now, having run from the commencement 30,000,
40,000, or 50,000 miles; and as they were made of good iron,
he believed they would not break. With respect to some
that broke, he knew they were made thicker than required
by the specification; but the shapes of the axles differed,
and if they could only have made up their minds as to the
shape, he believed they would have saved a good deal of
money; that, however, was a question not yet settled. With
respect to the sum of inonev mentioned, his opinion was,
that the mischief and loss to the company was not so great in
its extent, and ought not all to be attributed to loss on loco-
motive power; for those that had been repaired, he believed,
were able to stand their work, and some of them had run
20,000 or 25,000 miles, and kept their time admirably. He
also believed that some part of the loss was attributable to
the difficulty of getting coke; their demand at first was
greater than could be conveniently supplied, and they had
consequently taken it at almost any terms, and had not taken
the precaution to have it weighed; and of whatever blame
was due, he acknowledged that he ought to take his full share.
The Chairman said, that their engineer (as we understood)
had stated, that all the axles of their engines were too weak,
whether crank or otherwise, and had all in consequence broken.
Mr. HARUMAN EARLE.—llid he say that of all the first
contract?
The CHAIRMAN.—Of the first twenty-five.

Mr. HARDMAN EARLE wassare it Was not so,

The CHAIRMAN said he (the engineer) had not seen the
specification, and could not tell whether they were made ac-
cording to it. And he (the chairman) was of opinion that
there had been great irregularity in the engineering depart-
ment, and much looseness In the management; and likewise
in the receipt of so much coke without its being weighed.
They had received £lO,OOO worth of coke, and not one wag-
gon of it had been weighed. {Expressions of dissatisfaction.)
A PROPRIETOR observed, that in the earlier stage of their

business they had not had time to weigh it, but it was weigh-
ed to them, and he believed they were usually satisfied with
the ticket sent with the coal, which they individually brought
for their own use. He inquired whether the chairman meant
that the coke should be stopped at Preston Brook and re-
weighed? If some explanation were not given, an unplea-
sant impression might be left on the minds of the proprietors.
Mr. NOZLEY said, the discussion had taken a different
course than he had anticipated. The proprietors bad come
there to receive an account of the Directors' trust—they had
heard read the items of the receipt and expenditure, and they
were then to say whether the accounts should pass in that
slip-shod way in which accounts at general meetings were
often allowed to pass. It would be uncomfortable to the
Directors themselves to allow them to pass if they knew there
was anything wrong, and unsatisfactory to the proprietors;
and therefore he should press his question, which was one of
pounds, shillings, and pence. If the engines were made
on a certain principle and cost .£lOOO, and that was found
defective, and another cost £l5OO, that belonged to the capi-
tal account—there they paid £l5OO for what they had before
paid £lOOO, but he could not understand, if, after expending
£lOOO, they were to put the engine in dock, as he believed it
was called, and put in new wheels, cranks, and otherwise re-
paired it, how that expenditure could be added to the capital
account. They might carry it to the current expenditure
account, or the profit and loss, but certainly not to the capi-
tal. That was the view he should take as an arbitrator.

Mr. HARDMAN EARLE differed from Mr. Motley. Sup-
pose a bridge had fallen, to what account would Mr. Mozley
carry the rebuilding of the bridge ?
Mr. BOOTHBY said, to the current expenses. (No, no. Yes,
yes, and applause.)
Mr. H AubmAN EARLE said, certainly the capital account.
Mr. BOOTHBY said, the principle was merely the same when
a rail broke, and would they carry the expense of replacing
a rail to the capital or wear and tear?
Mr. HARDMAN EARLE said, that the Liverpool and Man-
chester Company carried a similar expenditure to the capital
account.

Mr. MARSHALL st•conrled Mr. Mozley's motion.
Mr. HOYES observed he had understood there had been
bad management alleged by the chairman, and he inquired
whether he had heard aright.
'the CHAIRMAN said there' had been great irregularity in
the accounts, and a check ought to be given to it—there had
been a great laxity in the system.
Mr. HARDMAN EARLE.—llid you find any thing that
showed there had been fraud?

The CHAIRMAN.—That is an awkward expression. We
certainly have been laid open to imposition.
Mr. HOYES asked to whom they were to impute the mis-
management—whether the board would bear the imputation
as a board, or whether it was chargeable upon a sub-commit-
tee, or upon any manager.
Several directors, among whom were Mr. EWART, Mr. J.
HORNBY, and Mr. RITSON, said they must each take a fif-
teenth share of the blame.

Mr..LAwaENcE HEYWORTH said it was clearly understood
that they had been inexperienced in these matters, and could
not he expected to act as well as they would with experience,
but in future they might look for a brighter prospect. He
did not care that the directors had made mistakes to the
amount of-11E12,000. ; it was possible they should err, but like
repentant sinners they had confessed their faults, and he now
hoped they should be forgiven.—(Laughter.)
Mr. BOOTHBY reiterated his arguments against the pro-
posed charge of 1.12.000. upon the capital account.
Mr. LAWRENCE HEYVORTH also pressed his motion, which
was now not only to the effect that the £12,625. be carried to
the capital account, but that a dividend of £5. per cent. be
'declared.

Mr. MOZLEY asked why the two were coupled together.
Several PROPRIETORS also objected to the union of the
two questions in one resolution.
Mr MARSHALL, who seconded Mr. Heyworth's motion,
objected likewise.
A SHAREHOLDER thought it was a strange principle to lay
this amount to capital account. He could almostthink there
was an intention of deceiving themselves or the public.
Some other preprietors, including Mr.- COGLAN and Mr.
BARNETT, addressed the meeting, the latter in support of
Mr. Boothby's motion, and then the motions were put, when
there appeared a great number of hands held up for Mr.
Heyworth's motion, and but about 30 for Mr. Boothby's.

CREATION OF NEW HALF SHARES.

The CHA IR stANistated that the next question was the cre-
ation of new half shares, which the directors had thought de-
sirable, to provide for the repayment of loans.
Mr. LAWRENCE HE YWORTH moved that new half shares
be created, and he thought by the adoption of his motion
they should show to the public, as Mr. Boothby desired, what
was their real state.
A PROPRIETOR seconded the motion.
Mr. Mozr,Ev though that this was a question of great im-
portance, and on which they should not come to a decision
half
-yearly
only twelve
on
months
st
ingreexaitstedneclieb,earantdionh
had
which there had been declared, by a mauwuvre, a dividend
Tthweoy
of ten per cent.; but still he had the fullest conviction on his
mind of the injudiciousness of the step. He had already
been beaten on a principle; yet, while he bowed to the ma-
jority, his opinion was unchanged. By manoeuvre they bad
endeavoured to pay five per cent. on the half year, and now
they went on to adopt a mode to raise an addition to their
capital which would be charged with additional dividend. If
they wanted money, he thought it was not the best way to
obtain it to add 50 per cent. to their capital, thereby adding
a large annual sum to pay year by year. If he thought that
anything in that undertaking was so bad, he would use his
best exertions to raise its value; but he believed the Grand
Junction Railway was so large, so magnificent, and so gi-
gantic that even bad management it could surmount. With
those feelings he was disposed to nurse it as a pet; keep
down its expenses and not pay proprietors nine or ten per
cent. when money could be had for four or four and a half.
Before they came to a hasty decision, he really thought it de-
sirable that they should adjourn, to give each person an op-
portunity to ponder over the accounts, and then to come to a
conclusion quietly. If they were determined to create half
shares he would receive them as the rest, but he did not
think that in twelve months they had had that experience
that would enable them to take the step safely.
The CHAIRMAN said he might state that this was perhaps
the only company that ever finished its undertaking without
wythhheyac dhh
htaoed,peabx yepsei
eld.oteersa stations
ebdae
xidwsaonm
owanted,
d engines,
farno
dm t
ti
hat teh
ewc'eo rre
making new shares. He added, that they owed £50,000,
pwcnoldirieactr4jeodtnh;:
ques-
tion of creating quarter or half shares arose_ as a means of
enabling them to pay off the £lOO,OOO, for which a call would
soon be made.

Mr. MOZLEY said that explanation had put him in posses-
sion of information which he had not had before. He was
not aware that they were so much indebted. •
111 r. HoYas spoke in favour of an adjournment.
Mr. HEYWORTU replied, after first inquiring whether any
other proprietor wished to speak on the subject. He said he
was a large proprietor, and he had always had great confi-
dence in the directors, but his confidence had that day been.
confirmed. When directors openly told them of their differ-
ences among themselves, their property was safe; but when
there was an apparent unanimity the proprietors might
tremble (Applause.) If he sent a ship to sea with her
sails set, if there was no wind, she could make no progress;
and he was heartily glad that there was the exhibition which
he had seen that day, for, in the commotion which they had
observed, they had their security.

Mr ALSTON rose to make an observation, but was inter-
rupted by
Mr. LAWRENCE HEYWORTH, who said, "I do cry order,
order; I (lid desire any gentleman to get up and speak before
I gave my responding answer." (Laughter.)
Mr. At.srox did not sympathise with Mr. Lawrence Hey-
worth, but merely wished to bear testimony to the judicious,
prudent, and intelligent conduct of the directors, and if they
had had a loss of 14,000, it arose from the novelty of ma :age-
ment. (Question, question.)
Mr. MOZLEY thought the hon. proprietor (Mr. Heyworth)
had been a little too hard with him; and in applying the word
nonsense to what he had said, he thought the hon. proprietor
had gone a little too far. His object in the course he had
taken was to unveil every thing that was hidden, and impro-
per and injurious to them or the concern at large, and he
thought he ought not to be stigmatised for what he had done.
They had heard read, in a rapid manner, the treasurer's ac-
counts, and he asked him (whether the chairman or Mr.
Heyworth we did not understand) as abanker or a merchant,
whether accounts so hastily read, unless they had great con-
fidence in them, ought to adopt and receive the report and
thank them for it. He was not willing to receive his dividend,
and his half and quarter shares, but as his due out of his pro-
perty in which he had made a speculation. He believed the
concern to be good, and that the directors might bring out its
good qualities; but when he found dissensions spreading on
the right and on the left,—(no, no, and yes, yes)—and then
accounts brought to the test, he did not think he was talking
nonsense when he asked for explanation of the way in which
the accounts had been made up, how authenticated, and how
passed, before they were called upon to adopt them. After
some other observations,
The CHAIRMAN said the directors were desirous to give
every explanation to the proprietors.
A PROPRIETOR asked what Mr. Mozley had meant by the
expressions he had used, when he said he desired to "unveil
what was secret," and elicit what was true and correct ; and
he hoped he did not imply that the directors desired impro-
per secresy, or to do what was incorrect, or state what was
untrue.
Mr. MonEv.—Certainly not.

A PROPRIETOR said that the directors had already in what
they had stated done a work of supererogation. (Question,
question.)

Mr. LAWRENCE HEY WORTH said he was sorry if anything
he had said had given pain to Mr. Mozley; he had no wish
to throw discredit on Mr. Mozley's abilities, which were so
well known..

It was then understood that the creation of half-shares was
approved of, and as it was necessary to call a special meeting
to agree to a resolution to that effect, the 9th of August was
fixed for that purpose. _ _ _

.
The CHAIRMAN then said that the only question that re-
mained was the adoption of the report, when

➢lr. BOOTHBY rose and said, before that was done he
would move a resolution, which he handed to the chairman.
Mr. BUCKHURST seconded the resolution, which was to the
effect, that previous to each half-yearly meeting there should
be a valuation of their stock, rails, &c.

A PROPRIETOR said that such a valuation was always
made by the'Liverpool and Manchester Company.
The resolution was not pressed.
The CHAIRMAN said that it was necessary that the common
seal should be fixed to the list of proprietors, which was or-
dered.

Mr. L. HEYWORTII desired that the book containing the
list should lie in that room for the inspection of the proprie-
tors.

The CHAIRMAN 'Said the act of parliament gave the .pro-
prietors the right at all times to the list, but in the book in
question the number of shares of the proprietors were attach-
ed to their names, which it was not usual to exhibit.