The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-09-16
Sketches from the foreign papers received at
the "Union" office By the Great Western.


THE RAILROAD MANIA IN ESGLAsD.--Those who
do not peruse the English newspapers can form no
idea Of the extent to which the mania for construct
ing railroads, and specializing in railroad stocks, is
now being carried the other side of the Atlantic
The two following extracts-the first from the re-
port in the "London Morning Chronicle" ofthe de-
bate in the House Of Commons on the 5lh ult.; and
the second from the "Times" of the 7th-throw
much light upon the subject of these Operations
in the United Kingdom; and we therefore lay them
before the readers Of the 'Union:"
The Marques of Clanricarde then rose to present
two petitions against this bill from George Pryme
esq, late member of Parliament for Cambridge, a
proprietor of land in the county Of Huntingdon
through which the line was proposed TO pass The
first petition complained, that whereas the original
estimate was for only five millions, the estimated
capital was afterwards raised to six and half mil
lions. The second petition set forth strong ae-
cations against the contract deed, describing many
Of the il contained utterly false and fcu.
tious, and that as TO a number of persons who
in it represented upwards Of half million sterling,
some Of them were Dead others not TO be found, and
the rest paupers, very little better. There was a
John Theobad whose name stood opposite to large
sum, which John Theobald nowhere to be
found ; and there was a Mr. Shackell, whose name
figured in the Dublin and Galway discussions, who
was down here for $4,000, and who was equally
invisible Another party-a halfpay officer, with
454 per annum--was down for large sum IN this,
as in other projects. Then there was a Mr. DAVE,
a clerk in the Australian Trust office, who a
subscriber for 4l2 600 worth Of shares in this Lon
don and York line; while fellowclerk Of his, fly
ing still higher, had signed for esq 900. Another
name in the contract deed was John Guernsey q
subscriber for Gl2, 500 worth of shares Who was
John Guernsey did their ordships SUPPOSED The
son of charwoman, and himself a clerk to a stock
broker at les. or l6s. week. Hear, hear. Next
came his brother, Charles Guernsey who lived with
John in garnet in Angel-court, and who, being a
clerk at lbs. week, had his name down subscri-
Der for ESQ 900 worth of shares in the Immaculate
London and York Hear, hear The latter pro-
prietor, indeed, when applied to, stated that he had
applied for shares, but that stockbroker had
taken him to the company's Office, put him forward
to sign the contract deed and them taking the scrip
into his own possession, dismissed him without Civ
ing him single sixpence for his trouble. The
young man would do well to institute suit against
the stockbroker, for the profits he had doubtless
allied upon "Charles Guernsey's, esq.," shares in
the London and York. Another proprietor was the
clerk of the company himself-that active, sharp,
scrutinizing, all-detecting gentleman, whona noble
and learned lord Lord Brousham) had eulo-
gized; but who, however, had allowed names of
dead people--of people who had never existed--of
people who did not reside at their assigned address,
es-and of people not worth a farthing, to appear
on his parliamentary contract deed as subscribers
for shares to the extent of more than half million
sterling. If the Dublin and Galway railway case
was one which mcrited their lordshps' censure, the
London and York merited it still more. He begged
to move that the petitions be referred to com
mittee.
RAILWAY SHARE JoBBING.--Such is the desperate
eagerness for gambling in shares in Leeds, that the
magistrates are compelled TO employ the police to
kaan tha claa tha ctr he
stock exchange is situate. The Leeds Mercury
states that the leading Shareholders are becoming
quite alarmed at the spirit of reckless speculation
which is now abroad and that at meeting held on
Saturday week, Mr.. Rdsdale, the senior shareholder
of the town, and chairman of the stock-exchange,
said that he considered 1t his duty as chairman, to
call their attention to the present position of the
share-market, and to the immense extent to which
speculation was now carried, causing in every re-
fleeing mind alarm and anxiety for the consequent
ces. He cautioned them to observe the utmost
care TO the principals with whom they dealt, re-
minding them that though the amount Of their bro
kerage might be large and their business apparent
ly exceedingly profitable, the responsibility involved
in it was frightful in extent; and that sudden re-
verse in the market, which single weeks
wet weather might occasion, might produce most
serious consequences. He urged them to repress,
rather than TO foster, the speculative spirit Of the
times; and especially to discourage the prevalent
practice Of hear sales sales made by persons not
actually holding the shares sold, in expectation of
fall in the price. This he considered most dan
gerous business, andone especially to be deprecated
as giving entirely fictitious value to the shares
dealt in. He also recommended to the members the
propriety Of disseminating all transactions in shares
of which the scrip certificates were not already is
sued, as brokers thereby were involved in very
heavy liabilities, of which they could not rid them
selves till the issue of the scrip took place, which
was often delayed for many weeks.
AFFAIRs IN New ZEALAND-The schooner Ora
tava arrived at the Bay Of Islands the 9th inst
The United States ship 81. Louis, from Sydney
the 29d of February, arrived at tho Bay Of Islands
on the 4th instant, where the Hazard was also ly-
ing. On the 9TH instant the Coolangatta saw
schooner off the Bay Of Islands, running for Auck
land, which Captain Meggett took TO be the CO.
quette, Captain Rogers. March Is, in Longitude l6l
degrees east saw the schooner Velocity with troops
on board for New Zealand. The natives at the
Bay of Islands were still carrying their depreda-
tons, headed by John Heki. On the 4th instant
they surrounded a station belonging to Mr.. Turner,
on which person Of the name Of Yates was living,
and, having stripped the inmates Of the house (both
male and femae) of every article Of wearing appa
REL set fire to the place, and also to standing crop
of wheat which was ready for the harvest. The
male inmates Immediately repaired to Kororarika,
distance of two miles, in state of nudity, to pro-
cure clothing for themselves and families, and also
to make the authorities acquainted with what had
transpired. The following morning the pinnace
belonging to her Majesty's ship Hazard was de-
spached up the river to the scene Of outrage, hav-
ing carronade in the bows, and her crew fully
armed. Whilst going up, they were fired into by
some of the natives, who were concealed behind
some Of the high banks, and one of the crew was
wounded in the face. The party On shore then took
to the hills and no further collision took place. So
serious had the aspect of affairs become that the
merchandise and furniture belonging to the settlers
of Kororarka had all been deposited in large store
contguoust the watch-house, into which the chief
part Of the female population had retired for fear of
an outbreak. An armed guard patroled the place
both day and night, which was composed Of civil
ians, who acted alternately. BUSINESS was entirely
put stop to, and the minds of the people were
wholly engrossed with one obect--that of fortify-
ing the neighboring heights, and constructing block
houses to fly TO in oase of need. The arrival pf the
troops from Sydney was anxiously looked for
From the following extract from the London