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' ' : ; .X . ' ¦ • .\ -V w<v ¦*- . ^ ••y...
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STATE OF TKADE. A meeting was held on Mo...
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AMERICA. The . panic appears to be over ...
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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~ ¦ ¦ - ¦ . Vt At Last Some Explanation ...
jbox is discovered containing the emaciated remains ; of a boy / marks on the skull directly suggesting 1 ; that death had been caused by violence . In Ireland , the Tipperary boys are awake in the old bloody spirit , and talking darkly of the coining long nights of winter . ' They scarcely « deiga ibo conceal tiheir sympathy with the murderers off Mr . Ellis . 'but ascc
taking some pains to induce » belief that lie ih & s been killed ^ not for anything wilieh he had done in the exercise of his agrarian lagibts , but as r £ sta ® mtion . for a domestic treason , if any man objects to be murdered , in this way , statistics blandly assure bin that his death falls into ' only' so much per Cent , on the population— such is the security of life in a country which / & cv The event of the week has been the unsuccessful attempt to launch the Iieviathan . Vexations as the failure has been , it lias established one very important point , namely , the general sufficiency of the
mechanical arrangements for getting the marvellous vessel afloat . Only one thing was wanting to ensure success—intelligence on the part of the subordinates chosen to app ly the machinery . The remedy for that defect will easily be found " the occasion of the next eifort to launch the vessel . And , meanwhile , if we have been somewhat mortified by the failure at ISliUwall , we have the gratification of an important success at Cagliari , whence we learn that the line of submarine telegraph has been completed between the island of Sardinia and the coast of Africa .
Iaady HAiaasGrrosr will have it that the Derby jury have charged her a great deal too much for the expressions wMch she used towards 'that man HiGHMOEJB . ' To be made to pay 750 J . for merely saying that a certain parson was a low vulgar fellow , a bad character , so wicked that she wouldn't take the Sacrament at his hands ; that he pocketed the money given for the repairs of the church ; that he was always telling lies and never speaking the truth ; always playing cards and gambling ; and lie and his wife constantly drunk and rolling about on
the floor!—for nothing more than those few sentences !—spoken by a countess , too ! The jury were a pack of mean-spirited ninnies , and their verdict was a ridiculous interference with the rights of countesses . Therefore , application was made on Tuesday , at the Court of Common Pleas , for a rule to set aside the preposterous finding of the jxiry . This was the answer of the Lord Chief Justice , who sat with Justices "Williams , Chowder , and "Willes : w We are all of opinion that there should be no rule in this case . In a conflict of evidence between Mr .
Jcrares and Lady Habeington submitted to a special jury , it was very unlikely that all the twelve would have been of hostile politics . The matter having been submitted to the jury , and they having ^ found Mr . Jones ' s statement worthy of belief , and taken that as the basis on which ; thcv found their verdict , I , for one , have no hesitation in expressing my opinion that the damages are not at all excessive , considering the destructive character of the slander against Mr . Hichmcoie as a gentleman and a clergyman . " The opinion of the Lord Chief Justice calls for no comment . We arc proud to acknowledge that the spirit of , the English bench is seldom betrayed by itsjudges . Mr . Commissioner Ho : lroyd ' s decision in the case of Sad g kove and Ragg is severe , but not at all
in excess of justice : he has refused to grant Ragg a certificate , and has suspended that of Sadgbove for two years . But we know that these bankrupts have only employed such means of raising capital as arc largely employed in . trade , successfully , and therefore undiscovered . The pemiciousness of such a mode of doing business is obvious , but it will require very many decisions like the present to effect a cure , or even a partial cure , of the evil . The case o £ - ~ Evans and Tiiorne , convicted of a libel on the ""^ Deputy Chairman of the Submarine Telegraph Company , is not yet done with . A public meeting , after hearing some explanations given , which , it appears , were not available as evidence on the trial , Las como to a decision adverse to that of the jury ; the result being that a memorial is to be forwarded to the Home Secretary , praying for a mitigation of
the sentence . The plot thickens in the commercial world . TJie latest intelligence from America is dark and gloomy , although we can sec sunshino through the clouds . JTailures continue , and must continue , since the 90 , 000 , 000 dollars of ascertained bankruptcy cannot bo brought to a wind-up without involving
many persons whose own proceedings have bee n 1 sound , 1 Ehe pressure , of coarse , has operated in this country . We iiave had our failures here ; they are annouaeed every day to a considerable amount . j At the same time remittances arc made to America on joirwt-tftock . property in that country ; some amounts liav £ also been sent against atapmeuts to this country in the absence of remittances to the
other side , and money lias likewise been remitted to America for jp \ irposes srf investment speculatively in the present anomalous state of the market . At the some time , the flnx of gold from this country to the Continent has not been abated . It is maintained to keep up the appearances of the Bank of France ; the Minister of that country liaving issued a formal report , in which , amongst other efforts to show the brilliant state of French finance , he cites a large balance of imports of precious metals over exports within the last ten years , and even of 62 , 000 , 000 fr . within the nine Tnorrtlis of 1557 . This is asserted in a report on the Budget of 1 S 59 ,
which boasts a balance , without alteration of taxes , of 4 S , 0 OO , O 00 fi \ , whereof , in order to make a theatrical effect , M Magxe would devote 40 , 000 , OOOt ' r . to a reduction of the National Debt . In alluding tenderly to the difficulties of the country , he ascribes tliem to the difficulties in other countries . ¥ c know what' perfect delusion all this is . It is true that the trade of France has increased , true that the product of lier tax . es has grown larger ; but the expenditure keeps pace with the product of taxes , and the spurious speculative commerce lias increased more largely that the genuine . These are the reasons' why ' from East and West there is a continued drain upon this country . England is playing the foster-mother to the
commerce of the East and West ; she is a fostermother who has twins , and they have enormous appetites . Here we have the reasons why the Bank-of England has this week been compelled to raise its discount to the unparalleled rate of 9 per cent . It has been followed -with' the usual / ' difference by . thc Bank of / France , which has raised its own rate to Si per cent . Really the monetary position of this" country lias not changed , and on that score there is not the slightest cause for apprehension , so long-as panic-mongers arc unable to do what they want , wliich is , to force the Ministers into-breaking down the principles u"pon wliich the Bank has been so successfully carried through all the vicissitudes of the last thirteen years .
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' ' : ; . X . ' ¦ . \ -V w < v ¦* - . ^ •• yv ¦ ¦ ¦' . ' 105 g - THUS IBADEB . ' : . _ [ No . JS 98 , JSTotembeb 7 , 18517 .
State Of Tkade. A Meeting Was Held On Mo...
STATE OF TKADE . A meeting was held on Monday afternoon of creditors of Mr . A . Hill , shipping agent and commission merchant , whose suspension followed upon the announcement of the failure of Messrs . Rosp , Mitchell , and Co ., with which firm he had had accommodation transactions . A statement of affairs , prepared hy Mr . Chatteris , the accountant , was submitted , from which it appeared that the total liabilities expected to be proved against the estate are ' 6-1 , 268 / ., of which 50 , 477 / . is on account of
accommodation bills . The assets are estimated at 17 , 430 / . A proposal was made on . the part of tlie insolvent . that a composition be accepted of 5 s . 8 d . in . the pound , payable in three instalments , extending over a year , to be succeeded by a further dividend of 2 s- 4 d . to the trade creditors only , secured by an assignment of claims of the estate upon the drawers of the irregular paper . After a short discussion , a resolution "was passed accepting the terms , subject to confirmation by all the creditors within one month .
The general business of the port of London during the past week was to an avcrngo extent . The report of the committee of shareholders of the Royal Surrey Gardens Company , appointed on the fith nit ., states that they have examined tho counterpart of tho lease wliich was granted to Mr . Tyler , and sold by him to the company for 14 , 000 / ., and find that there was at the time of such sale a term of only twelve years from Michaelmas , 185 G , unexpired ; that tho premises ¦ were subject to a yearly rent of 34 G / ., and a septenniul finfl of one year and a half of the . annual value of the premises ; that thero is no covenant for renewal in the eaidlcase , and tl * oro ie a . covenant on tho part of the lessee to deliver up at the end of tho loaso all buildings *
which can by law be claimed by the freeholder . Tho committeo are of opinion that under these circumstances tho lease of the gardens at the timo of tho purchase by tho company waB not worth above 1000 / . It appears that th « general body of the shareholders wero entirely ignorant that there-wero any mortgages on the property , or that tho company was involved in . debt , until thoy wore informed of it by tho affidavit of their own secretary , filed ia support of the petition to tho Court of Bankruptcy . The committeo have come to tho conclu-Bion that the promises might be made a place of healthful nnd rational recreation , as well as a aource of considerable profit to tho shareholders , but it can only bo don « under a sj'stem diametrically opposite to thut which has
heretofore been adopted . They are of opinion that the plan of continually giving very scientific music i 3 t great mistake . The committee recommend , as a general rule , a more varied class of music , and of a more national okaraeter , such as the best English , Scotch , and Irish compositions . The committee recommend that proper steps should betaken to have a full investigation of the mortgages and all claims on the company , in order to ascertain what tlie encumbrances really are , and whether * uch arrangements could be made as would . enable the company to carry on the gardens with a prospect of paying the creditors , and giving some return to the shareholders .
The suspension was announced on Thursday moruinof the old . and important house of Naylor , Vickors , and Co ., steel-manufacturers and iron-merchants , at Sheffield .. The amount of their liabilities has not been stated oa authority , but they are rumoured to ' range between 600 , 000 / . and 700 , 000 / . At a meeting of the depositors and others , creditors of the Liverpool Borough Bank , held at the bank on Monday , the following ofier was made on the part of the bank : — " That the claims of all depositors and other creditors for amounts exceeding 200 / . should be satisfied by the promissory notes of the bank , payable -at five , twelve , eighteen , or twenty-four months' date , bearing Interest at the rate of seven per cent , per annum . " This oft ' er was accepted .
America. The . Panic Appears To Be Over ...
AMERICA . The . panic appears to be over ; but some new suspensions are announced—among them that of the Grand Trunk Railway Company . At Augusta , Georgia , all the banks have suspended . In other cities , however , several houses have resumed payment ; some of the banks are again issuing specie . At a meeting of bankers at Cincinnati , it was resolved to receive at par the notes of tho New Orleans bank 3 , and the notes of all banks also that are bankable in New York , Boston , Philadelphia , Pittsburg , and Baltimore . At New Orleans , the bank presidents have agreed to take certified cheques on the Citizens ' . Bank in payment . of debts ; the Citizen' re * - deems its circulation with specie , but notcJieques of depositors . The State banking institutions of St . Louis have opened a depository for the adjoining state ; for the currency or the Nctt England States and the Slate of New York ; and for the notes or tt » p . Philadelphia , Pittsburg , and Baltimore banks . A large number of the principal merchants advertise that they will receive all currency at par . There have been no sales of cotton fur several days , and quotations were entirely nominal at the last dates .
Walker and liis filibusters are again giving trouble . A writer from "Washington states : — " Information has been received here from the South that Walker's expeditions— -one to leave New Orleans and the . other Galveston—have been delayed , in consequence of financial pressure , until the 1 st of November . They do not expect to meet with seriou 3 , if any , opposition from tlie Federal onicers . They propose to laud at some point in Costa Rica , on the Atlantic coast , and then inarch on San Jose , the capital of that republic , which they expect to reach in . two days . Their calculation is that when they capture it the whole country will be iu their possession . The aggregate of the Filibuster force is from 1800 to 2000 men . " Official orders have been received at the naval yard to fit out a fast steamer , to " be despatched to arrest tho expeditions .
A freshet in the Susquehanna river has carried oil' a dam , and the navigation of the North Branch Canal is stopped . A great fire , attended with some loss of life , had occurred at Chicago . Tho damage was estimated at G 0 O , 00 O dollars . The steamer Tropic has struck against a snag' in the Missouri river , and twelve or fifteen people were drowned . Indiana has chosen Mr . Chase ( Republican ) art their representative in Congress . It is stated that New Grenada is disappointed in tho convention lately agreed upon between the United States nnd that country ; ami that the President of the latter has been authorized to sell the Isthmus .
" Hundreds of persons , " says tho Washington correspondent of tlie New Yo 7 'k Herald , " are daily applying to Lord Napier for employment in the British army in India . Ho requested mo to say that his Government has resolved to employ no foreign troopa in that wnr . ' The latest accounts from the Salt Lake state that the Mormons refuse to allow thu United States troops to enter tho city , and that ] 3 righam Young publicly < li' - clnrcs tUal ho will out < lru to Clio jjrulrios , lliua depriving tho animals of tho expedition of subsistence , ami will burn his own city , if nccessnry , before he will submit to the demands of tho United States Government . Tin ; forts along tho route are represented as being in bud repair , and as not affording euflicient protection for the troops . A new overland route to California has beeni discovered , which will bixvo many milos of travel .
The Arctic lias arrived , at New York , liaving passed three , months on surveys in connexion with tho Ocean Tnh'graph . The Liverpool packet fillip Jacob A . Wcstcrvclt took firo on tho 23 rd ult ., in her cabin , and was damaged to tho amount of about 2 OO 0 dollars .
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Citation
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Leader (1850-1860), Nov. 7, 1857, page 2, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_07111857/page/2/
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