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    The promoters of the Company throw out a strongly-worded bat homethruat warning against the dangerous practice of area sneaking ; and they state explicitly that they will not countenance any connexion -with pocket busiaess , whether in the streets , at the theatres , or places of public amusement . It is a paltry line of operations , full of risk , and wholly -unworthy the attention of any respectable association .

    It is in contemplation to establish , in confidential connexion with the Company , separate companies , or firms , for the purposes of insurance , shipping and shipping insurance , and contracts with 0 overnment or railway companies . The Servants' Office has already been mentioned . At the chief office will be a Clearing House in connexion with the branch establishments in the chief towns and on tlie Continent .

    But one of the most important sections of the whole enterprise is a bank , to be called the Imperial British Bank ; a great convenience . It was at first thought that this would need a separate capital ; but those who are well informed , know that no capital is needed for the foundation of a bank . There will , however , in fact , be another bank in

    connexion with the Company , of a perfectly safe kind , for the use of the shareholders and connexions . In order to preserve the perfect solidity of tJiis part of the establish' - ment , it will be necessary to exclude the public , and especially the commercial classes and the gentry ; both , of whom are so reckless that really it is difficult to see how any wellconducted establishment can . maintain itself

    if it is open to . those two classes . For the general public tlie Imperial Bank is established ; but it Trill be strictly watched by the directors . An important branch of the General Appropriation department , at present very little developed , is the Bankruptcy department . It is not the difficulty of finding business , but , on the contrarv , the immense mass of 7 . ... ¦ ¦

    . .. * * business which awaits the- Company in this line , that lias retarded the settlement of that part , of the plan . It is necessary to make the arrangements as complete as possible , in consequence of the intense competition already existing in the particular branch of business , and the extent to which the Defalcation , G-arotte , and Greneral Appropriation Company has been anticipated .

    It will scarcely be necessary to found new establishments in all cases , for it is probable that alliances may be formed with companies or firms already existing and enjoying a high character in general commerce . Intending shareholders in the Defalcation and General Appropriation need be under no apprehension that connexions will be formed with any but houses of the highest standing . On that head there can be no difficulty , as was abundantly proved in tlie case of Mr . J . "W . Coxe .

    One essential will be to have the Company well represented in both Houses of Parliament ; and with , regard to one House , at least , ' the arrangement will be easy . The Company might have possessed its two members on the Liberal sido in the brothers Sadi / eir ; it was tho want of the company that destroyed the really masterly plans oi ' those members .

    As to tho success of this enterprise , there can . be no question . It meets a want . The success even of a second discount house in tho City is loss certain . The licld of enterprize is imploughed , save by individual adventurers , wlioso profits havo been enormous . Tho elements already exist . The solo doubt would Ho in tho Avant of experience , ability , or trustworthiness of tho promoters ; but their interests nro too completely

    idenang to eminent shareholders who are allowed to drawtheir dividends without vouchers , the purchase of stores at a price probably agreed ¦ upon with the vendor and lower than the price charged to a company , the use of a company ' s cash in other undertakings , the sale of tickets for passengers , &c , the taking of securities and raising money upon them , ithe concerting of plans for intercepting ¦ bullion , &c ., in transit from station to station , . w—all these methods have been in part

    anticipated , and it is not desirable to detail the yet ¦ larger number of ready devices in which the prospectus is rich . The one certain thing is that there are many modes of turning to account the capital , income , securities , and stores of any great company under treatment .-,- —many more than have yet been disclosed . But the new Company propose to add both

    to the extent and eertainty of the operations by having their own agents as contractors , clerks , registrars , foremen , auditors , and even directors of the other companies selected for exploration ; in short , in any capacity of trust . The only limit would arise from the inconvenience of numbers , and the danger of the arrangement becoming known to tlie general shareholders .

    ^ ne interesting feature in the plan will be appreciated by Messrs . Bedpath , Robsost , Cole , &c .: it consists of an excellent arrangement for facilitating the retire-, merit of any ' active' shareholder who might be interrupted in the execution of his duties , and put to inconvenience . It will readily be perceived that the Company , possessing

    unlimited command of easily with its agencies in every quarter , on every- line of railway , and in every port , and having many private houses necessarily connected with the enterprize , would be able to offer temporary retreat at once , and a free passage to any part of Europe and North America , or , —too much neglected under such circumstances— - Asia , South America , and Polynesia .

    The next in importance is the Plant and Domestic department , for the acqiiisition of property in private houses . Hitherto the instruments in this department have been of the rudest description , and totally without organization . It has been impossible to preserve every improvement that lias occurred to individuals , however eminent and ingenious . In connexion with this branch , though ostensibly a perfectly independent establishment , will be a Domestic Servants' Office .

    The Locomotive Department applies to railways and the ordinary highways . There is no reason to suppose that Agar had any employment under the Company , although the coincidence is curious . Indeed , the fate of that exceedingly able and honourable man ia a striking example of the want which has been so long unsupplied . A separate office in the [ Locomotive Department is devoted to the Garotte Office

    a new branch , but capable of infinite development . An eminent firm has contracted to supply an assortment of new implements for this branch , on a highly improved principle . The branch office , however , will bo limited , as the risk is considerable , and tlie returns precarious , sometimes contemptible . Another branch of the Locomotive is tho Omnibus Office ; a peculiarly quiet and profitable line .

    In connexion with the Locomotive Depavtnient , arrangements havo been made for a Btrong recruitment of tho police with men . of good character . It is believed that it will bo possible to prevent tho men , temptod with the hope of trading on their own account , jrom forming dangerous connexions with illtrained lads , such as so seriously compromised the policeman Kijtg , from whom better things might have been expected under a better syBtein .

    tified with the project to teave room for doubfc , if any were permitted respecting gentlemen of so much talent , moral character , and social standing as those whose names will be submitted to intending purchasers of shares . At the head will be a great capitalist who has already engaged in a vast y&riety . pf gigantic undertakings , without any -accident to himself . In the present state of * he Sharemarket , the general public naturally feels

    deterred by the alarming reports . People shrink from schemes so reprehensible and hazardous as Credit Mobilier in-Spain , or Russian railways . In the Defalcation and General Appropriation they find an ascertained field of activity ; and in the identity of interests between shareholders and directors they have that exclusive guarantee , so absent in many other joint-stock companies , honesty of direction .

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    THE GENERALS AT gARS . GtEnebail Kmetx has published an unpretending pamphlet * to vindicate his leputation and services , which , he considers , have suffered unjustly from omissions in . General Williams' s despatches and public speeches . As though he were unwilling to make a direct appeal , his pamphlet is little more than a fall account of the battle of the 29 th

    September . It is indeed a complete military monograpli of that battLe ,, and , as the production of the chief actor in the events described , and of a man of undoubted veracity and great experience , will doubtless have its value for military students . To understand the value of the argument implied , it is only necessary to premise that the operations

    before Kars never lost their character of a blockade except upon one day , and that with that single exception no fighting , which rises in dignity above a skirmish of outposts , took place throughout . General Xmets ' s statement is that , except sonie distant cannonading , the whole of that action was fought by troops upon the left bank of the river , that he was in sole command of the whole of these

    troops and of the works defended by them , and that he never received any order from any superior officer throughout the day . Colonel Teesdale , the only Englishman who was other than a distant eye-witness of the main struggle , who , in a , letter written immediately after the battle , gives the whole glory of the day to " dear old Kmety , " may be cited in support of this statement . ~ Nov could Greneral Williams himself , who publicly thanked him for the victory in the name of the Queeu of England , have at that time thought very differently ,

    Although it is nob until his third despatch after the battle that Sir Eenwick " Williams mentions General Khett , and then only as commanding ' the division' on the Tacbmas ( a part only of the lines on the left bank ) , and although in that despatch he is only mentioned as displaying " conspicuous courage and conduct" promiscuously with Hitssein Pacha , and M : ijor Teesdale , his own chief of the stafl ' , General Kmety complains less of these despatches , which might fairly be expected to be occupied with English

    achievements , than of tho public speeches . These , although they abound with descriptions and anecdotes of tho siege and , of this victory , which he considers his own , either pass by his name in silence , or only present him without special mention in tho company of far less distinguished officers . Unless General Kmeopy has departed widely from . tlie ' chivalry and modesty' which British officers liavo attributed to him , and unless Col . Teebdalb was mistaken , and Sir Penwick Wixliams has since found cause to modify his good opinion * Narrative of tho Defence of Kara . TrnnRlated from the German of George Kmety . ( . 1 . Kidgway . )

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    November 22 , 1 & 56 . ] THE LEADEE . 111 S

• Citation
  • Leader (1850-1860), Nov. 22, 1856, page 1115, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2168/page/11/