, 1859-06-14

bered that the explosion Of the Liverpool Bor-
t ;ough Bank h November. 1897, arsstly agHtn1a:
tsd ths panic, necsakitatinR ~ 1t did the with
holding Of advances to tbecutatofa;. und consc.
| qnently forcing the salc Of large portion OF
II TIE stocks hold through it. previous support.
The directors OF the bank issued, In 1857. a re-
port stating that certain losses had occurred, in
consequence Of which they had reduced tile div
1dend TO five per cent, lelring it to be inferred
that this can,c out Of the profits, aud saying in
terms that they confidently expected the surplus
would be sufficient to enab1e them, the next
year, to declare the same dividend without en-
croachlnr upon their capital. In point of fhct,
tue losses OF the company bad consumed not
only ell its profits, but 55.lo of its cuptal, aud
the dividend was Of course declared from whit
remained. One 3lr. Dixon, new-e1ected di-
rector, Investigated the aairs OF the bank before
the report vas issued, stout1y protested against
It, and even drew up one Of his own. stating the
tacts Tery plainly and truthfully, which report
he tried to Induce the directors to adopt. but
unsuccessfully. At length be yielded, and Raye
his sanction 70 the one actually Issued Parties
who afterwards purchased stock upon the faith,
~ iiley alleged, Of this report, aud consequently
suffered heavy losses. brought their suit against
this very Dixon, who had placed his knowledge
of the fa'sity OF statements bearing his own en-
dorsen1enf 70 conspicuous1y upon record. The
detenccs set up were Q1nofalsc representations,
ana y that the report was intended for stock
holders then existing, not for the public, or
purchasers P,:a;S Of shares The jury found for the
the other judges laid down the law as in the
case of the Royal British Bank, affirming the
verdict. We hare statutes regulating the lia-
b1lity Of stockholders and directors IN certain
corporations, but this does rot lessen the inter
est OF the present decision.
CORRESPONDENTS IN 7HE CAMPS
Inc determination shown By the French staff
TO exclude newspaper correspondents from the
camp, has not been initiated BY the !Austrians,
London 1t0'es with open arms Tie author Of
Tue episflc from Mortara, abusing the Piedmon-
tesc. and proving to demonstration the ineffa.
PIC blessings Of austrian rule, is certain Major
bairdsley, who presented himself to Count
Gyna', armed with letter Of introduction from
munlcations would be conceived in tone fayor-
abie TO the Austrian cause. He certainly has
not belled his recommendation, but as far as the
facts 60, he cannot be said to shower them on
tue public too plentifully- All his correspond
ence hitherto has been composed Of cxtrayagant
euloglss upon tue Austrian army and govern:
1nent 80 extrarayant, in fact, as to prove beyond
doubt that they arr revised by Count Gyulai's
stall before Transmission 10 London, TIE de-
parture OF the Austrians in this instance from
their usual rule Of nncomprising hostility to
newspapers, is due to the immense importance
TO- them ot conci!iatin@ public: opinion in Eng
land, winch public opinion. detestable Il mon
ster Us the F'ennese statesmen conceive it under
ordinary circumstances to be, n1uy few months
hence y. m hold the fate Of thu whole Of Europe in
:, How DOES HE KSow.-Fnller writing from
ds,s Ill., TO ill., t6s Ese.. o.sr the .oxd p!s< of
:lusion that the Partisan skirt, as now worn Is
made OF some more flexible materia1 than steel.
~ dI trfnts yittds mare fusuy aadqraeefuHv." !