Monmouthshire Merlin

THE DECEIVER. V' They say she is forgotten now, As tho' she'd ne'er been known, And that her im >ge ne'er intrudes Within his wealthy home, They say his e J rthly wishes all Are centred in his bride, And that it was not wealth alone That led him to her side. They say he never thinks upon The lowly village maid, Whose earnest loving heart he won, Then cruelly betrayed. They say his eyes ne'er rest upon Her pretty rose-clad cot, And that he careless passes by The well-remembered spot. They say, too,:that he faltered not When she, our village pride, Was borne by friends who loved her well And laid her sires beside. They say his checks no pater grew As they moved sadly by, And that his trait'rous bosom heaved No deep despairing sigh. And yet within our village church He never now is seen, And many a friend who knows him well Marks his sad, altered mien. His handsome face too plainly shows The marks of grief and care; And many say he's now a prey To secret, deep despair. EMILY STEPHENS.

HOMCEOPATHY NOT A SHAM. We insert the following at the request of a correspon- dent :— In one of the lenders of the Morning Star and Dial I for February, 1861, the following remarks will be found on the Reformed or Homoeopathy School Intolerance is most familiar to us in its theological development; but it does not make its abode exclusively in church or chapel. The evil spirit is equally at home in academic halls, and gives visible tokens of its supre- macy in the scheol of medicine. That this should be 80, must be ranked among the most marvellous fruits of human folly. The investigation of the laws which go- Yern the physical universe ought assuredly to impress a strong conviction of the feebleness and fallibility of man's intellect upon the inquirer's mind. The history of every department of science is a record of gradual progress, the successive stages of which were marked by the sweeping away of time-honoured delusions, each reverenoed in i's day as the embodiment of an indubit- able truth. Thus the scouted innovation of an age has keen reverently accepted by its successor, and the ridi- culed visionary of the eve has become the honoured teacher of the morrow. Medicine has afforded some of the rnrst striking illustrations nf tho fact that thero *•« finality in human science. There is scarcely an impor- tant truth now generally recognised by its professor Which has not had, in its time, to battle with an obsti- nate and virulent opposition. Many a new discovery, now prized as a precious agent in the alleviation of ,human suffeiing, has been hailed at its birth by the ridi. cule and sneers of some, and the fierce antagonism of others. If experience invariably taught wisdom, the professors of the healing art would be above all men tolerant of novel theories, and willing to give them every facility for that experimental trial which has so often es- tabliehed the right of supposed fallacy to rank as a sci- entific truth. How far this is from being the case is un- happily a matter of notoriety. When the bigotry of medical men is passive, and contents itself with clinging tenaciously to old ideas, and turning a deaf ear to the argument3 of their adversaries, we may rest satisfied with deploring the blindness of which it affords a. clear indication. It does not lie witbin our province to offer an opinion with regard to the relative merits of the allo- pathic and homeopathic schools of medicine. It is enough f..r us to record that each system has its practi. tioners and its lay adherens, and that every man who wishes to devote himself to the treatment of disease, no matter which of the two theories he makes the basis of his practice, is compelled by law to pass through the same training and to receive from the same institute s a certificate of his competency." Taken from the Le Monde, a French paper, of October 6:h, 1860, is the following "It would appear that there exist at present 3,250 homoe pathic doctors, of whom there are 1,612 in America only, where there are three colleges-one in Ohio, one in Chicago, and one in Philadelphia. In Europe, where the students are obliged to go through the allopathic courses, and pass their examinations before they can adopt the homoeopathic practice, there are five professors' chairs, two at Prague, two at Munich, and one »t Vienna, without counting one veterinary pro- fessor of medicine in the last-mentioned city. In Germany there are 566 homceipathists, 470 of whom are M.D.'s, 3-5 doctors cf animals, 21 attached to hospitals, and 37 licensed surgeons. There are 19 hoir.ee ipathic hospitals— nine in Austria; of this number the three moat important are in Vienna, having 160, 80, and 60 beds; this does nOt include a lunatic asylum, Dr. Lunche, at Kuce'.hew. There are eight homoeopathic journals—four scientific, and four for gentral readers. The Central Homoeopathic Society numbers 230 doctors of medicine. There is an annual meeting—that for 1861 will be held at Leipsic. There are in France 403 homceopathists. At Paris, at the hospital Sainte Marguerite, 100 beds are under the reformed treatment, under the direction of Dr. Tessur. 10 England 244, two of whom are professors-Professor Henderson, ot the University of Edinburgh, and Professor Mt donah', the learned and scientific professor of civil and natural history, of the University of St. Andrew's, Fife- shire; and < ne hospital. In Spain 94, with one hospital at Madrid. In Italy, 141. Belgium, 26, Holland, 7. Switzerland, 34. Scandinavia, 12. Danubian Provinces, 4. Russia, 67, with one hospital at Moscow. In Por- tugal, 47. Io Asia, 4. In Africa, 6. In America there ar large homoeopathic, hospitals in Boston, Chicago, and Philadelphia. Besides all this, the Austrian army con- tains i wo doctors in L'etat Major General, three in L'etat Major, and six attached to regiments. Some of the Sovereigns of Europe avail themselves of the homoeo- paths treatment. Ai «• hy Le Docteur Gal!avardin, (Projet d'Hrpitaux AJIXU-S AUopa'.hiques et Homceopathiques, Projetde Dis- peojam s Mixtes, Memoire Addreseé A.M.M. les Ad- minisirateurs des Hospitaux), is an account of eight in- stitu'ii.na where the mixed treatment is now actually in opeia-n. With the following very characteristic remarks ma Ly the Hospital Adminstrators of Paris Before and tsirce the days of Hippocrates, medical men have always disputed among themselves, and always will do so. But we, as administrators of the hospitals, feel it our duty to hold ourselves apar- from all the schools-nor can we take part in controversies more or less scientific. It is for us simply to ascertain the results obtained by each physician in his particular department; and this is the result of our examination in the case before us _U At the Hospital Sainte Marguerite there are two de- partments-one of 100 beds is under the direction of Dr. Tessier, who treats his patients hommapathically the other of 99 beds, is under the direction, alternately, of Drs. Valleix and Marotte, who treat their patient* allopa- thically. The patients as they enter are directed to- wards the first unoccupied beds, be they in the homoeo- pathic cr allopathic wards. The test of the two methods takes place, as far as possible, under the same conditions. The following are the statistics: During the years 1849, 1850, and 1851, there were treated, in the allopathic department, 3,724 patients, of whom 411 died mortality, 11 per cent. In the homoeopathic department, 4,663 patients, of whom 39911ied-mortality, 8 per cent. Difference of the mortality in favour of homeopathy, 3 per cent. The administrators were able also to observe during the period above quoted, first, that the average duration of disease under homoeopathic treatment was 23 days; under allopathio 29 days Second, cost of drugs fur the allopathic service, 23,522 francs that for the homeopathic department was 200 to 300 franw—that is to say 100 times less couiderable.

COUNTY POLICE.—SATUHDAY. [Magistrates: THOMAS GBATREX and WM. PHILLIPS, Esqrs.J" ST. WOOLOS.—William Crump was charged with fe- loniously milking cows, belonging to Mr. W. Lane and another.—William Ridge said he was a guard on the Western Valleys Railway. On Thursday night about nine o'clock, he was in a field near the Waterloo gate, belonging to Mr. William Lane, and he saw the prisoner enter the field with a can. Several cows were in the field, some belonging Mr. Lane, and others placed there on tack. The prisoner milked one cow and partially milked a second. The second belonged to Ilr. Line. Witness went to the prisoner and said, What s this you, Crump ?" Prisoner said he might as well milk the cow as the milk ran on the ground. Prisoner asked witness to say nothing about it, and he replied he could not cover it, having been placed there to watch. Wit- ness explained that Mr. "Lane's cow was one that it had been intended to leave to dry.—Inspector Fowler appre- hended the prisoner, who on being told the charge, said 44 It's all right," and walked into the yard. His wife inquired what was the matter, and he said 41 That fellow Ridge caught me milking one of Mr. Lane's cows last night."—Cross-examined I did not- hear you say that you had leave from Mr. Lane's servant to strip" the cows three times.—The prisoner said he had made the statement, and persisted that it was the truth; and in reply to the magistrates, said he had not the man present as a witness because he had no cbanje to get him. The prisoner elected to be tried by a jury, and was committed to the sessions, bail being accepted. CHRISTCHURCH.—Joseph Phillips was charged with stealing, and William Daries with receiving, three oak planks, the property of Etmund Jones, of Bull Moor J farm, Cbristchurcb, The prosecutor said about a month ago he saw the planks, the oak being about 18 feet long and three-quarters of an inch thick, and worth 30s., sate in his barn. On Friday he missed them. The prisoner had formerly been in his employ, and had opportunity to go to his barn, where he knew the planks were. Sus- pecting prisoner of stealing them, he gave information to the police, who had since shown him his planks;-Cross. examined I have not seen you on my farm since you left my service.—Edmund Jenkins, of Caerleon, said prisoner asked him about two months ago what he would charge him for making a deal frame for the oak face of a table. I told him 12s.—Evan Jenkins, fisherman, said about a month ago he saw the prisoner at the Bell Inn, Caerleon, and was requested by him to tell Davies he wanted to see him about selling some planks.- William Davies said, about five weeks since prisoner asked him to buy some planks. He agreed to do so, and the prisoner then told him they were by the river. He went to the place indicated by Phillips, which was about a mile from the prosecutor's premises, found the pbnks, and brought them away. He gave 5s. and a quart of beer for them. The planks produced by P.S. Powell were the same he bought.-P.S. Powell, from information received, searched Davies's house, and found the planks produced in the stable. He asked Davits how he accounted for them, and he replied that he had bought them from Phillips. He then took Davies to Phillips, and charged Phillips with stealing the oak and the elm planks. Phillips said planks!" made a halt for a minute or two, and then aided, I sold no planks. He then took him into custody. -Davies was discharged, Phillips committed for trial at the sessions. William Rosser was summoned by William James for 19. 31. wages. Some dispute seemed to exist as to the agreement between the parties. Ultimately the magis- trates ordered Mr. Rosser to pay 10s. and costs.

BOROUGH POLICE—MONDAY. [Magistrates: Alderman EVANS, and EDWARD J. PHILLIPS, Esq.] Evan Prosser was charged with attempting to steal a quantity of lead, the property of Mr. William Russell, Newport Forge, Marshes-road, on Thursday, the 12th inst.-John Williame, labourer, in the employ of Mr. Russell, said that on Thursday afternoon last, between three and four o'clock, he was wheeling coal for the night turn, when the prisoner came to him, and asked for a job, stating that he had been previously employed at the Dos Works, and had been recently discharged, in consequence of the work being slack. Witness was called away, and was absent about twenty minutes; on returning he saw the prisoner cutting the lead, and asked him what he was doing, when he threw down a knife which he was using, and ran away. He endeavoured to capture him, but failed.-P.S. Curtis stated that he went to the Forge on Thursday last, and found the lead had been partially removed from the roof of the building it bad been cut and rolled up. The officer pro- duced a knife with which the lead had been cut, and said that be had shewn it to prisoner's mother, who aeknow- leagea tnai It belonged to uei.—p. wither of the prisoner, said the could not swear positively to her son being at home at the time the robbery occurred. BelitVed the knife produced was her property.- F.C. Pyne said that on Saturday morning last he appre- hended the prisoner on another charge, and from infor- mation he had received, went to the Forge, and saw John Wi Hama, who afterwards iden'ified the prisoner as the person who had stolen the lead. Witness thrn cut Dff the lead, which was still hanging to the roof.- Committed for trial at the Usk Quarter Sessions.- The prisoner was next charged with stealing a sack of potatoes, the property of William Ansteer' butcher, Maindee—Henry Parker said that on Saturday morn- ing, between ten and eleven o'clock, he saw the prisoner wheeling a sack of potatoes on a pair of trucks, with a sheep's skin on the top of them; witness asked him where he was going with the potatoes, whereupon the prisoner took the skin off the trucks and ran away, leaving the potatoes bebind.-P.C. Pyne stated that on Saturday morning, about half-past ten, he received in- formation of the robbt ry, and went in search of the prisoner, and apprehended him; he charged him with having stolen a saok of potatoes. Prisoner denied steal- ing them, observing that a butcher, whose name he did not know, had left them in his charge.—Joseph Anstee, labourer, said he sold prosecutor a sack of potatoes, and placed them in the Upper Market-lane. Prisoner as- sisted him to put the sack on the trucks,—Aaron Anstee, son of prosecutor, stated that he was left in charge of the potatoes he went away for a short time, and on his return, found they had been stolen; he then proceeded to the Carpenters' Arms-lane, and found them there.— Prosecutor deposed purchasing the potatoes of Joseph Anstee, which were worth about 11s.; he did not see where they had been placed; the prisoner had no authority to take the potatoes away.—Sentenced to three weeks' hard labour. Jeremiah Donovan was charged with assaulting and wounding John Hone, in Dolphin-street, on the night of Tuesday, the 10th instant.-Mr. R. J. Cathcart ap- peared on behalf of the prisoner.—This case came before the Bench on Friday, but was remanded until to-day.—Complainant, who was much disfigured, stated that he was in Dolphin-street on Tuesday night, be- tween ten and eleven o'clock, when some person, without provocation, threw a stone at him, which struck him in the face; he did not see the stone thrown, neither could he swear who threw it.-Francis Barker said that he was passing through Dolphin-street, on Tuesday night, and saw the prisoner run out of a house, and throw the stone, which struck complainant just above the eye.—John Channing deposed to seeing the stone thrown at complainant by the prisoner.-Olher witnesses were called, and gave corroborative evidence, all agreeing that it was a most unprovoked assault.- Mr. R. J. Cathcart addressed the Bench on behalf of the prisoner, expressing a hope that the Bench would act as leniently with him as they could.-Fined 40s., or one month's imprisonment. WEDNESDAY. [Magistrates: JAMES BROWN, Esq., Mayor; Alderman HOMVRAY, and W. W. MORGAN, Esq.] WiUiam Samuel, of the Royal George, was summoned for keeping his licensed house open for the sale of liquors at illegal hours.-P.S. Pratten said on Sunday morning about one o'clock he visited the defendant's house. As the officer entered, the defendant let out two men. In one room the officer found 5 men with glasses before them, and also in another room he found a man drinking. -The defence was that the drink was drawn before twelve o'clock.—This being his first offence, the defen- dant was cautioned, and fined in the mitigated penalty of 5s. and costs. Sarah Davies was summoned for selling beer without a license.—Defendant did not appear.-Chief Superin- tendant Huxtable said the defendant had formerly kept a beerhouse in Newport.—Sergeant Curtis said on Satur- day night he viiled the defendant's house in Upper Market street, and found in a room several glasses and jugs of beer. There were also a violinist and a singer in there. The Chief Superintendent was with witness, and asked defendant for bar license, when she replied she had not got one. She intended applying for one next Wednesday, and should have applied before but her daughter had been ill-William Read deposed to having purchased beer from the defendant.—Other witnesses, who, as also Read, had been summoned to give evidence, spoke to bting supplied with drink by defendant.—The Mayor remarked that if persona who were served personally with summonses failed to attend they must take the consequences, and the defendant would therefore be fined 20s. and costs. John Jones was summoned for 10s. wages due to John Leahey.—Complainant said he agreed for 4?. a day, and had worked two days and a half.—The defence was that the man had not been employed by day work, and that, supposing he had, the work done would not occupy the time charged for.—Ordered to pay 5s. and costs. Ephraim Franklin was summoned for assaulting Martha Rees.—Complainant s&id on Saturday week she wtnt intc a beerhoufe to sell plume. Franklin was in the house, and asked what she was selling. She replied, 41 Plums—yo* traaf'?" He said, "No," and thetf took a handful of the plums, and put a lot u bit pocket. She asked him to pay, saying she did not get the plums for nothing. He then struck her about the head and abused her very much, and broke her pint.— The defendant said the woman had asked him to taste the plums. He did so, and,because be refused to pur- chase, she put her fist in his mouth, and he then pushed her from him.—Witneaaes were called who corroborated to some extent defendant's statements,—one of them, a woman, stating that the complainant threw her basket at the defendant, which hit witness on the head, and the fruit was strewed over the cbor.—The com- plainant then said the defendant had been to her house and wanted to ma&3 up the matter.—The defendant, in reply said he offered to pay her a shilling for the plums, but she wanted balf a crown, which he refused to pay.- The Mayor advised the parties to retire and endeavour to settle the matter.—The parties acted upon the sugges- tion, and the defendant agreed to give the complainant haH a crown and pay the expenses.. Michael Mahoney was summoned for assaulting Mary Carey, an elderly woman, whose face was frightfully discoloured, and plainly showed she had been subjected to savage treatment. Thtf corhpfafnant said she had gone to have a glass of ale, when the defendant struck her, without any provocation whatever:—The defendant said the complainant called him fonl names, which exasperated him, and he pushed.her from .him, when she fell against, a chair, causing the marks of violence on her face,— The complainant stated that the defendant had offered her 6s. not to go on with the proceedings.—Fined 10s. and costs, or twenty one days' imprisonment.

SOUTH WALES INSTITUTE OF ENGINEERS. The Annual General Meeting of the members of this association was held at the Royal Institution, Swansea, on the evening of Friday, the 13th instant. The members met at five o'clock, under the presidency of Lionel Brough, Esq., and proceeded to the election of the office-bearers for the session 1861-2. On Saturday the members assembled for the discussion to of certain papers which had been set down for considera- tion. There were present Lionel Brough, F.G.S., (the president) Alexander Basset, of Cardiff; Charles Lean, of Swansea Charles Lean, jun., George Lean, William Williams, Llanelly Rhys Williams, Llanelly Thomas Evans, F.G.S., Government Inspector: for South Wales Henry Harry, Llanelly; Handel COils- ham, Bristol David Llewellyn, Glyn Neath John Cox, Caerleon M. Moggridge, Swansea Christopher James, Aberdare H. iluxham, Pontypridd Marcus Moxb.&m, Swansea; D. W. James Richard Bedling- ton N. B. AUtn; H. W. Hodges, London Joshua Richards; J. C. Richardson John Glasbrook, Swansea and Wilkin Trick, Ynyscedwyn. In opening the proceedings the President sta'ed that it was the last session of the institute's current year, and the conclusion of the fôuHlt *ye £ r of its existence. The account of these proceedings would- form the conclusion of the second volume of the proceedings of the Institute. The members on the libt numbered 202, but the list would be revised, and reduced, The President funher stated that the Institute had lost by death four members. Of these he mentioned Samuel Truran, Engineer of the Dowlais Works; Caleb Davies, of the colliery works at Nantyglo and Mr. Dickins. The finances are in a very satisfactory condition. He concluded by thanking, in the name of his fellow- members, the gentlemen who had placed at their disposal the Royal Institution for their meetings and those gentlemen who had opened their works for inspection by the members if they felt disposed. Mr. Handel Cossham, of Bristol, read a paper on the working of thin reams of coal. In it he explained how thin seams of coal, from but ten to thirty-six inches, were now being worked by him at South Wood, on a plan which he had adopted, after ten years' experience on the matter.. The cost incurred in working seams between 18 and 24 inches was, for labour, 4s. 6d., and the total cost, exclusive of interest, was 5s. lOd. per ton. In working seams between twelve and eighteen inches, the total cost is 6s. 3d. or 6s. 4d. per ton, inclusive of interest. The rails used are peculiar in construction and weight, 101 Ibs. to the yard. The trams weigh 3 cwt, and in each can be carried 8 cwt. of coal. The wheels are fast to the axles. Mr. Cossham compared the loss of life which occurted,in the pit of which he spoke to that of the South Staffordshire district. In reference to this it was-argued that the difficulties to contend with ill working there were fewer than those of the Sou h Staffordshire and South Wales- collieries. The president also stated that a colliery in South Staflordshire worked on a principle he had advised, had been free from fatal accidents ever since the-plan had been introduced. It was thwl in working a seam of 30 feet, the upper half should be worked fivat, as. if it were only a fifteen feet seam the props to the roof would then be secure. The lower half could then be worked as U. it we»«. feet seam, áu.<I thn* wauia pe saved tbe sxeatdanger ot ine root or the- working falling in. Testimony was offered to the very admirable way in which Mr. Cossham conducted his coUiery, and it was designated by the president as a most admirable colliery. During this discussion Mr. Williams-strongly Z, recommended the use of puddled steel for making tram- ways, &c., it being more servicable than iron and not greater in cost. Thanks were- moved to Vr. Cossham for his paper, who, at a later period of the proceedings, referred to a mining school- which is now in existence in Bristol, for the purpose of instructing the lower class of mining officers for the better carrying out of their duties. He commended the school to the members, thinking they might render it considerable help. The president con sidered a similar movement for South Wales would be desirable. A letter was. read from Mr. W. Adams, of Ebbw Vale, the president elect, who was totally unable to attend in consequence of some riotous proceedings which had taken place in his district. The following new members-were declared t-lected :— Mr. James jfasmyth, Aberdare Mr. Thomas E. Cooke, Newport,. Mon.; Mr. Henry Hewett, Bristol; Mr. ParkinPeffcock, Daffield^near Derby; Mr. C. Kirby, Newport, Mon- A discussion here followed upon a paper by Mr. James Sims, on the Cornish Engine, and one on Underground Machinery, by Mr. Christopher James. In reference to the raising, of water, Mr. Moggridge recommended any of the members who might be in the neighbourhood, not to lose the opportunity of visiting an extraordinary machine at work at the Berches garden, in Bavarian Tyrol. A paper was read from Mr. R. Schmidt, on Professor Zeuner's diagrana. for showing the motion of the slide valve. A vote of thanks to the retiring president, moved by >fr. Cox, and seconded by. ;Mr. Bedlington, terminated the proceedings in the Institution. At four o'clock a dinner was given afe the Mackwolth, At its close the following toasts were drunk 44 The Queen," His Royal Highness Prince Albert and the Royal Family," 44 The Mayor of Swansea," proposed by the president; The South Wales Institute of En., gineers," proposed by the Mayo*. Mr. T. Evans returned thanks, and proposed 44 The members of the South Wales Royal Institution." The president than proposed The prosperity of all the Scientific Institu- tions of Great Britain," coupling, with it the nanus of Mr. Moggridge. Toasts were also proposed in honour of the coal and iron shippers, "The Press," &c,

FROM THE LONDON GAZETTE* BANKRUPTS. FRIDA Y.-J ames Cooper, miller, Isle of Wight.— Mansel Joaquim and Augusta Soares, merchants, Mark- Ian e.- John Hills, baker, Faveraham.—ThOtMS Hall, licensed victualler, Fulbam.-Iohn Thomas Meek and Henry Martin Radloff, oil refiners, Whitechapel.— Thomas Stinchcombe, woollen draper, Cloth-fair.— Joseph Goodwin, earthenware manufacturer, Tunstall, Stafford.-Robert Edbrooke, bell hanger, Bristol. TUESDAY.—Stephen Bacon, corn and coal merchant, Old Kent.road.- William Green, carman and carrier, Blackfriars.road.-Chas. Edward Alforth, timber dealer, Barnes.-Harpley John Mayes, cattle dealer, Stoke Ferry, Norfolk.-George Penton, malt&ter, Basingstoke. -David Ramsay, merchant, Forest-bill, late of Mel- bourne.—John Massey, grocer and provision dealer, Newcastle-under-Lyne.-Alfred Blowmill, bandmaker, Birmingham.—John Banfield, organ builder, Hands- worth, Stafford.—William Greatorex, boot manufac- turer, Leicester.—William Conway James, tin plate manufacturer, Llanvrechva, Lowetr Monmouth.—Henry Clement Heard, newspaper proprietor and apothecary, Bridgwater.—John Mills Hassall, trading as Jos. Shaw and Co., cloth finisher, Huddersfield.- William Farbon, miller, Horncastle.—Aaron Fielding, grocer and corn dealer, late of Glossop, Derby.—John Platt. furniture dealer, Oldham.

The following is an extract from the second edition (page 188) of the iranslation of the Pharmacopoea of the Royal College of Physicians of London, by Dr. G. F. Collier, published by Longman and Co. It is no small dofect in this compilation (speaking of the Phar- macopcea) that we have no purgative mass but what contains aloes yet ws know that haemorrboidal persons cannot bear aloes, except it be in the form of COCKLE'S PILLS, which chiefly consist of aloes, scammony, and colocynth, which I think are formed into a sort of com- pound extract, the acridity of which is obviated, I suspect, by an alkaline process, and by a fourth in- gredient (unknown to me) of an aromatic tonic natnre. I think no better and no worse of it from its being a patent medicine. I look at it as an article of commerce and domestic convenience, and do not hesitate to say, it is the beat-made pill in the kingdom a muscular purge, a macuous purge, and a hydrogogue purge com- bined, and their effects property controlled by a dirigent and oorrigent. That it doeiJ. not commonly produce haemorrhoids like most aloetio pills I attribute to ita being thoroughly soluble, so that no undissolved particles adhere to the muogua membrane," l [2079

MONMOUTHSHIRE RAILWAY AND CANAL COMPANY. HALF-YEARLY MEETING OF THE PROPRIETARY. The half-yearly meeting of the' shareholders in the above-named concern, was held at the Company's office, Great Dock-street, Newport, on Wednesday. Among the gentlemen present were Mr. Crawsbay Bailey, M.P., Mr. Octavius Morgan, M.P., Mr. Thos. Brown, Mr. Thomas Gratrex, Mr. Thomas Powell, Mr. W. Jenkins- (Newport), Mr. E. J. Phillips, Mr. G. Gething, Mr. G. Cave, Mr. O. A. Wyatt, directors; Messrs. W. S. Cartwright, H. J. Davis, T. B. Batchelor, W. G. Cart- wright, T. E. Cooke, H. Farr, W. Jenkins (Caerleon), G. Conway, S. Vernon, W. Hopkins, A. Williams, J. Blew, J. J. Nicholas, J. Firbank, J. Latch, H. Williams, and J. Russell, shareholders; with Mr. F. T. Barnard, auditor; Mr. G. Harrison, aecretary of the Company; Mr. A. Waddington, solicitor, &c,&c. The following is an abstract of the REPORT OF THE DIRECTORS. REVENUE ACOOUNT.-The receipts were JE317 less than in the corresponding half-year in 1880. The following table shows the gross traffic receipts, working expenses, and net earnings of the three last years Half-years ending respectively. r- -v Dec. June Dec. June Dec. June 1 1858 1859 1859 1860 1860 1861. £ 4 £ £ £ £ Gross Traffic Re- ceipts. 58,482 56,678 59,800 59,235 61,335 68,918 Working Ex- penses 30,584 28,89J 31,653 30,106 30,227 31,187 Net Earnings.. 27^898 27,786 28,147 28,529 31,108 27,731 Expenses, per cent. 521 51 53 52 49 53 Dividend on Or- dinary shares 5 5 5 5 6 DEBENTURES.—The average rate of interest now paid on the total amount of borrowed capital is £ 4 7s. 7d. per centum per annum. RESERVE FUND.—This now amounts to £9,395 10s. Id. DIVIDEND.—The general revenue account shows that there is a balance of JS13,672 lis. 6d. and as that sum will (less income tax) yield a dividend at the rate of 5i per cent. per aunum on ordinary shares, and a balance of zC202 141< 7d. to be carried to the next half-yearly account, the committee recommend that a dividend be de- clared at that rate, and be made payable on the 5th Oct. proximo. RAILWAYS AND CANALS.—The Engineer reports that the works generally are in a good state of repair. ROLLING STOOK -The superintendent reports that the whole of the stock in use is in an efficient state of repair that the stock consists of 32 locomotive engines, 31 pas- senger carriages, 2 horse boxes, 2 carriage trucks, 4 pas- senger train break vans, 11 goods and mineral train break vans, 156 goods and coal waggons, and 2 )6 goods waggons, hired by the company. APPLICATIONS TO PARLIAMENT —AS mentioned in the circular issued to shareholders after their special general meeting, on the 3rd of June last, the bill for authorising the leasing of this company's undertaking and property to the West Midland Railway Company was not approved of by that meeting; and, in deference to the opinions of shareholders, as expressed at that maeting, the bill in Parliament called "The New Lines, &c., Bill," has since, in course of passing through the House of Lords, been modified by expunging the power to make junctions, at Newport, with the South Wales Railway, and arrange ments with that Railway Company, and by reducing the amount of authorised capital for new works, &o., from £ 165.000 to £ 12-5.000,—consisting of £ 109,000-in shares, and £25,000 in loans. NEW CAPITAL.—The amount authorised to be raised by shares, under the new act, is £100,000, and a special general meeting of shareholders will be held on the same day as, and immediately after, the ensuing half-yearly meeting, to docide on the terms upon which these shares shall be issued. The Revenue Account shows the following trafiSr Tonnages on iron, £7,8i6 183 8-1; on coal, £11,611 Os Id on other minerals, £3,116 3s (M and on merchandise, £6,165 6s Id for locomotive power, carriage use, pas- sengers, &c., t3L237 10s 10d total, £60,076 18s 8d. Deducting amount paid Lord Tredegar, for tonnages on Park Mill, £1.Gõ3 7s Id, leaves £ 5& 918 lis 7d as the neb amount of traffic. The working expenses were £31,186198- )0It. leaving a balance-of £21,73111s 9J. Mr. Obtavius Morgan expressed his regret that his brother Lord Tredegar, the chairman of the Company, was unable to attend the meeting, being absent on a visit to Scotland, and moved that Mr. Crawshay Bailey be requested to occupy the chair. Mr, Rrown seconded the motion, which was carried. The Hon. Chairman remarked that he had a few ob- servations- to offer on the report, a copy of which docu- ment no doubt each shareholder had received. His first was aw ugly one—namely, that the per centage of ex. penses had increased from 49 per cent. to 63 per cent. and they would probably wish to know how that was made out. If they would turn to the miscellaneous ex- penses they would fiad that they amounted to £ 1,000* or thereabouts in excess of the usual sum. It-occurred in tn. u*r a Attn, a.Uv-, bad had a rate of fiTOfr'more than usual—that was for the half year- At Risoa, where the lamentable accident had occurred^ the rates had very much increased and, in fact, owing to the great distress in different parishes, the rates in all had in, some measure augmented, and would make, under the miscellaneous, an addition of more than LliOOO upon the whole. Then there had been a falling off in the receipts. They would observe the receipts had amounted to £ 58,918 instead of £ 61,335> as in the preceding half year. That was a difference of £ 2,42<h They had consequently to deduct the expenses from the-sum of £58,918; and these two items would very nearly give the difference of 4 per cent. between the expenses of last half year and the previous one. The next item was the dividend. They would perceive that it was proposed to give a dividend of 5J per cent., which, would leave a balance of £ 202. Perhaps the directors might have been justified in pay- ing a dividend of 6 per cent. which might have been done by taking a small sum from the reserve fund. The shareholders were aware the company had a large reserve fund of £ 9,396; while their flourishing neigh- bour, the TafT Vale, only possessed a reserve fund of £ 3,549. However, the committee had, upon the whole, thought it most desirable to declare a dividend at the rate of 5-1 per cent., payable on the 5th of October. Formerly the dividend had been paid three months after that date, and it would be a great boon to the share- holders to receive their dividend three m.mths in advance of the usual date. tHear, hear.) As to the railways and canals, the engineen reported the works to be in a good state of repair; and he (the Hon. Chairman) believed from inquiries he had made, the engines and appliances of the Company were in good order. Then tho-rolling stock was reported to be in a good state of repair, and that was an item- in conneotioifc with which the directors had taken a step during the past week. As the shareholders were j aware, the Company had been paying. £ 2,100 a-year for waggon hire. Now the Company had been offered 206 fgQods waggons, 81S30 a waggon. That offer had been accepted, and the amount would be paid out of the new capital. He (the Hon. Chairi&an) had worked it out on paper, and he thought it would pay an interest of 35 per cent. on the outlay, which was. a very good begin- ning of investing the new capital.. The Hon. Chairman next remarked that the meeting that day had been con- vened under the new Act. Formerly the meeting had been held on. the third Wednesday in November; but in< future the half-yearly meeting would, of course, take place at the same period as the present one. Referring to the Parliamentary proceedings of the Company, the Hon. Chairman observed that the directors had encoun- tered very strong opposition in Parliament. They had been in the committee of the House of Commons from twelve to.&fteen days, and ia, the Lords three days.. He was informed by the solicitor of the Company, that the expenses would not be so enotmous as had been imagined. It was thought they would amount to about £ 4,400. In deference to the opinion expressed by a general meeting of the- shareholders, it had been arranged that the Works' Bill should be sacrificed^ provided certain clauses were not expunged. They were aware the House of Com- moas had inserted plenty of obnoxious clauses-suoh clauses, in fact, as, in his (the Hon. Chairman's) mind would have been almost ruinous to the Company. But the Commons had persisted in retaining those clauses,-why or wherefore be could not exactly tell; but they had certainly evinced a strong determi- nation to have them in. However, when the direc- tors went before the Lords' Comndttee, they, for- tunately for the Company, struck out the objectionable clauses. Those clauses related ta the construction of branch railways in connection with the South Wales railway station, and the carrying out of those works he (the Hon. Chairman) felt convinced would have involved an outlay of £ 60,000. In consequence of those two clauses being struck out, the Committee of Management had thought so much new capital as JE165,000 would not be required. They had therefore gone for £125,000 the opinion of the directors being that if the Company had a large sum of money on hand they would be sure to spend it, and that the sum of JE125,000 was sufficient to complete the works. The subject of the new capital would be brought before them at a special meeting, to be held immediately upon the close of the general meet- ing. He did not know that he had anything further to say, except that he might mention that on the preceding evening he had been amusing himself with a few figures, the result of which was to render him in no way afraid as to the future,of their concern. He had gone into a calculation upon 4,000 acres of the coal ground held by the Company under lease and freehold, and he had found that would give the Company, at the rate of Is. 21. per ton, the sum of seven millions of m')ney,- that was seven times the amount of their own capital under 4,000 acres. He should say the coal extended J over an area of eight miles wide by sixteen miles in 1 length. Then he had made another calculation, which had brought him to the conclusion that the coal under that ground would last 2,200 years or thereabouts. Sj they need have no fear that the coal would be worked out, and the oonoern soon brought to a close. He should thetefore bo happy to ineet anyone wtion tbe wal Setf Was worked out. (Laughter.) As for his friend, Mr. Powell, they told him he must inquire in the next world for the largest coal field there. (Renewed laughter.) The Hon. Chairman concluded by moving that the Company's seal be affixed to the register of shareholders Mr. Octaves Morgan seconded the resolution, which was adopted. The Hon. Chairman then moved-" That the state- ment of revenue and capital account for the half-year ending June 30th, 1861, as circulated amongst the pro- prietors, be passed." Mr. W. S. Cartwright, in seoonding the resolution, had no wish to go to the depths to which the Hon. Chairman had gone, as in his judgment that had but little to do with the matter. He was happy to see, con- sidering the depressed condition of the coal, iron, and tin trades, branches of commerce with which Newport was intimately associated, during the last six months, upon comparing the past half-yeat with the corres- ponding half-year of 1860, that there had only been a diminution in the receipts of JE317. He thought that was a cause for much congratulation. He did not think the working expenses were likely to decrease. He did not anticipate the realization of the idea the Hon. Chair- man had held in that respect. When the proprietary had met in another room, one of the reasons adduced by the Hon. Chairman-why the shareholders should look forward to an increased dividend was, that the contract with Mr. Firbank for the maintemtnfeff of the road was about to expire and would be renewed upon more fa- vourable terms to the Company. But if he (Mr. Cart- wright) were rightly informed, the contract had been renewed with Mr. Firbank upon the same terms as for- merly and therefore he (Mr. Cartwright) could not see how what had been shadowed forth by the Hon.. Chair man as an element in the future prosperity of the un- dertaking, could be put to the credit of the Company, nor could he hope for any saving on that account. The maintenance of the roads was an important feature in the working expenses, and it must be considered, if that were the case, they would be in the self-same position as heretofore. The Hon. Chairman bad spoken of the future. Might he (Mr. Cartwright) without being con. sidered either egotistical or out of place, as a considerable shareholder, and one deeply interested in all this district -and with his interest the interests of the Monmouth- sbire Company were closely identified-point out one or two matters for their consideration. The Monmouth- shire Company had to consider this, that they had to give the widest and the utmost possible convenience to the West Midland Company. (Hear, hear.) They would act wisely by giving every possible faci- lity] to that Company for bringing their traffic to this port; inasmuch as through the instrumen- tality of that Company the produce of other fields would be ^brought to this port, which apart from such instrumentality it was an utter impossibility ever could be brought down. He alluded to the coals which annually eame down from the Aberdare district. With a complete and proper understanding with the West Midland and the Sirhowy Companies, a new field would be opened, altogether in addition to those at pre- sent open, and without subtracting one ton from the traffic they now poisessed. The Monmouthshire would thus increase their revenu?, aD-1 consequently augment their dividend. In further remarks, Mr. Outwright ob. served that in his judgment, without meaning anything in the slightest degree offensive, the traffic upon the old Rumney road was not properly developed. He believed there was no individual in the district but ftllt, and felt acutely, that no adequate reason had existed why the Rumney traffic should have gone from this port. But that having gone to Cardiff, was that any reason why the passenger line should not be opened ? The fact that Newport had lost that important traffic, and the fact likewise that the district was inadequately represented by the Rumney line, deserved the serious attention of the Monmouthshire. No real and substantial good could be effected but by the Rumney Company being more closely united to the Monmouthshire. He did not believe in the power of the Rumney Company to-develope that district,-he would. go further and ad 1, knowing the pro- prietors of that coaoern, that there was no ground for I expecting that they bad the power. With thefl>odof • competition going to Cardiff, identity of interest between the Monmouthshire and Rumney Companies was I absolutely necessary.- TheRumney Railway must either, 1 by lease or acquisitionr be in the possession of the Mon- mouthshire Company,.and being so possessed, on fair and proper terms, it would form an element ia the future t success of the Monmouihahire, of which that'Company ought to be most desirous to avail itself. lie, looked 4 forward most anxiously to those two sources of revenue, c -the West Midland and the Rumney district. He believed they had a hopeful future to look forward to, and he therefore spoke hopefully of th it future (Hear, hear). Mr. Cartwright then referred to the £.100,000 t stoek which had to be raided. He would take his share of that stock, because he believed there was for it a hope- ( fol-future. In the enunciation _ot' his vin.6 (Bdpr. Cart- wright remarked) he trusted he should not be deemed to have spoken otttmsiveiy. ne naa uot su intended, in what had transpired at a, previous meeting he had in. tended no offence. His sole object was to see the port flourish as it ought to fluui-isti- And he entertained a strong view that it could Sourish only through the means he had inadequately pointed out. He therefore asked them seriously to consider what he had indicated. lIe asked, reluctant as he was to go to Parliament, if that step were necessary, that they should acquire the RGmney railway through Parliament, His voice, feeble though it might be, should be in that direction; because he J believed, that through that means the interest of the Company and the well-beins of the port would be alike promoted and ensured. Mr. T. B. Batchelor considered the remarks of Mr. Cartwright to be of a most valuable character, and he indulged a hope that their full force would be duly weighed by the Committee of Management. In refer- ence to the West Midland, (Mr. Butchelor remarked) the Worcester and Herelord. line had been just opened and he wa3 told that they had put Newport in the posi- tion of a branch line. Formerly carriages had run through from Newport to the full extent of the com- pany's lines, but now from Pontypool road to Newport was made a branch, and Merthyr was their principal terminus. That might be taken rather as an indication of hostility than of good will towards Newport. So far as it showed a little indication of that nature, it might be worth while consideiing it, with a view to effecting a remady. The Hon. Chairman I suppose the West Midland sends you on to Newport; if you wish. Mr. Batchelor Just so. But there is all the differ- ence between that and running a carriage continuously. The Hon.Chairman thought that practice was intended to prevail only for a fewt days. Mr. Brown assured MI. Bitchelor that there was no intention of the kind, alluded to by him. He (Mr. Brown) was present when the arrangement was agreed upon, and it had been, simply for this reasoat the West Midland had the control of their own lines,, while they had not the control of; the Monmouthshire. They were simply aVaStiDg further communication with the Mon- mouthshire authorities. Mr. Batchelor would touch upon one- point in the report, which described the rolling stock as in a good state of repair. To. his (Mr. Batchelor's) own know- ledge, one engine had blown up during the last half year. He considered that a fact sufficiently important to deserve mention. The Hon. Chairman: The expense was about £350. Mr. Batchelor said he was about to. inquire respecting that. The Hon. Chairman, in replying to Mr. Cartwright's observations with respect to Mr FLrbank's contract, said, the first contract having neocly expired, and in consequence of their trying to make terms with the West Midland, no other party being prepared to take it up, the committee of managemeat had thought it best to go on with Mr. Firbank on the same terms as for- merly. As to the West Midland, the Monmouthshire- Company were prepared to give every facility to any new traffic that presented itself. There was plenty of room for all passengers and for all goods. Within sight of the room there was half an acre or an acre of most valuable ground, covered with nothing but grass, and ready to be adapted to any purpose for which it might be required. If more room, were necessary, there was a. store-hoase, with very little in it, which was available. Then a great deal had been said about Aberdare;. but if gentlemen would look at the map on the back of their reports, they would find that there was a straight line from Aberdare to Cardiff. He admitted they might get a little of the traffic by the loop line, but he did not rely at all upon the trade from Aberdare. Let them look at Newport on the map, and they would find it would have to go over two or three lines. As for going to Parlia- ment, as his friend Mr. Cartwright talked about, why he (the Hon. Chairman) believed the Rumney Company had some time ago offered their line of road to the Mon- monthshire, but they could not come to terms. But as far as he was concerned, as an individual proprietor, and the executor of his brother, he had no objection at any time to effect a fair arrangement. (Hear, hear.) Let them not go to Parliament if they could do without. The Counsel, with their wigs, said The Monmouthshire is the best customer we have got-(laughter) —here's the Monmouthshire always in Parliament." Mr. Batchelor: We have powers to treat with the Rumney Company ? Mr. O. Morgan said they possessed full powers he believed, to lease or sell the line. The Hon. Chairman said as to the engine which was blown up, it was fortunate no one was killed or injured. Ho had been reading that morning of two engines that had blown up in Lon Ion, and in one case eight parsons were killed, and in the other two or three. Mr. Batch.elor: You very nearly blew up a lot with your engine, The resolution was then put and carried. The Hon. Chairman then moved-" That a dividend atrrhe raUf of õt per oent. on the ordimary share gapttftl of the Company bq deolMed for tha half-year ending iw* 30th, 1861, and that such dividend be payable on October the 5th proximo, to the proprietors whose names appear this day on the register of such shares." The resolution, being- seconded, was unanimously adopted. This terminated the ordinary business, and a SPECIAL GENERAL MEETING Was immediately held for the purpose of determining upon what terms the shares authorised to be raised by the New Act should be issued. Mr. Harrison, the secretary, having read the notice convening the meeting, The Hon. Chairman remarked that they were all aware that they had gone to Parliament fjr powers to increase their capital £ 125,000, anl he would acquaint them with the objects for which that increased capital was required. He held in his hand a paper, upon Which were enumerated, before they went to Parliament, the various purposes to which it was intended to apply the £ 125,000. There was a sum ofjEt9,469 which had been taken from the revenue\nd expended on capital. £ 1,000 was required to pay for worka ia hand at that time;' for land contracted for £10,000; and for calls upon Dock shares, £ 6,000. Those items gave £ 36,469. Under the old Act of Parliament the Company had varioifs works to perform-the improvement of curves at Waterloo Tydae, Rises, the Millpond, and Abercarfft; alT required by the Act of 1853, and which would entail a cost of £ 17,900. But by laying out this money they would save the expense of four gatemen, signals, and wear and tear of engines. Wagon stock, £ 14,000— that was the sum required for new waggons; but he was happy to tell them that they had bought 206 new waggons, at X30 each, and they would thereby save on that item nearly £3,OOfl.-rben there was the Cwmtillery branch, for which they had to pay £16,000, but that was only required at intervals. Station accommodation at Dock- street, £ 5,000. He thought they had plenty of room, bat they should be happy to let it to the West Midland or any other Company who might require it. For station accommodation, £ 30,000. These items made altogether a total of £118,369. The Hon. Chairman then remarked that it was the duty of the directors to inform the proprietors that the day previously they had made a purchase of the Mill-pond from Mr. Brown. (Hear, hear.) Their aquaduct over the mill pond would have to be renewed; but "imtead of renewing it with timber, they intended to till it up, not with earth, but with stones. Some of it would be required for station accommodation, but after they had taken all they required, there would be a considerable space to spare, which might be disposed of to any neighbour who required it. He (the Hon. Chairman) thought it would prove a good purchase for the Company, and a good sale for Mr. Bowr.. The Hon. Chairman concluded by moving the following resolution Resolved— "1st.—That in conformity with tbe provisions of the Monmouthshire Railway and Canal V/orks Act, 1861, the sum of £100,000, being the amount of the additional capital thereby authorised, be forthwith raised by the creation and issue of 5,000 new shares of L20 each. 2ud.—That such new shares be of one class, with like privileges, and be jwued as ordinary shares, and with the same fluctuating dividend as the present ordinary shares of the company. 3rd.-That such new shares be offered at par to the holders of the ordinary shares of the company in proper. tion to the shares held1 by them respectively. If 4th fbat if any ordinary shareholder fail for one month after the offer of new shares to accept them, the committee of management may dispose of the unaccepted new shares to any othei person at such times and on such terms and condition* as they may think fit. aifirst ca.11, or deposit of £3 per share be paid on allotment, or within seven days afterwards, and In default of payment such allotment shall be vohW ta* laat the amount of future calls upon the new shares to bo so issued, and the time of payment thereof, be nxect by the committee from time to time as the exi- gencies of the company may, in the opinion of tbe com- mittee, require. "7th.—That the committee of management may, if they thisk fit, receive from any shareholder wishing to advance the sime, or any part of the moneys, due on .heir respective shares, beyond the sums actually called for, Eind upon the principal moneys so paid in advance, or so nuch thereof as from time tb- time shall exceed the amount of the call then made apon the shares in respect )f which such advance shall be- made, the committee of management may pay interest at such rate not exceeding 5 per cent, per annum, as the shareholder paying such ■um in advance and the committae shall agree upon" Mr; Cartwright had no doubt the committee had well considered how they could best issue £ 100,000 as or- iinary stock, .and they had allotted it to the ordinary shareholder Had the committee considered in whose bands the ordinary stock was now held, and the proba- bilities whether the holders of that stock would take up .he new stock on the terms of the other ordinary stock ? Because he held, unless they disposed of a large propor- lion of this fttoekotT hand, they were not sending the .took into tho market upon the most n» t"Ulh^r '•c,e' la fact» depreciating their who tn n la k0 6la(* to hear from Mr. Barnardt Bristol sharX»dertnlhPa0t8Sthei? .CO°fidenC0 °f J50 point; because if he mistook noP'^h11 R8- upoa, holder, wore act lar3e Lold.ra of o.Li^l J? M" cl^h? !!7 RE 'Se estent. • w h nnrtiA* "o'11 'hat otherwise they might wish to participate m the new stock. He con- nived it to be unfair that the newstock should- be oon- Sned to ordinary shareholders, but that all shareholders should be equally entitled to participate in it. (Hear bear.) He doubted whether the whole of the stock would be takan up by the ordinary shareholders-the directors must not be disappointed if many shareholders lid not take their proportion. Then according to the resolution, it remained for the directors to issue the unallotted shares as they pleased. Ho should have Lhought it better for the direotors to' have enlarged the area and to have let in the whole of the proprietors. Mr. Jenkins and Mr. Waddington observed that the resolution was-drawn up as such resolutions invariably were. It was, m fact, but the echo of the Act of Parlia- ment, which,said the stock must first be offered to the ordinary shareholders at par. Mr. H, J. Davis conceived the fact was this. The directors could n.ot offer the shares at a less price to any- body, until they had been offerei to the shareholdera at that priee. The-stock must be necessarily offered; to the ordinary shareholders on certain terms. If the ordinary shareholders failed to- take up the whole of the stock on those terms, then the directors could not offer the stock on amended terms to other shareholders or to the publio, until upon those amended terms the stock had again, be-n offered to the ordinary shareholders* The Hen. Chsirman said the directors did not wish the whole of the sto"k to be disposed of at once. If they offered him the £100,000, ho would refuse it because if they had a large balance, they might spend it recklessly, whereas if they had difficulty in obtaining the money tbey would probably be unore-eareful. Mr. Cartwright thought if only 20,000 or 30,000 shares were accepted by the ordinary shareholders, and those shareholders were within a short time called upon to pay the whole of their calls, when they had taken them, up under the impression that they would spread over a couple of years, they would be acted towards unjustly: Ms. O. Morgan inquired if the hon. proprietor ob- jected to the power of disposing of the stock being de- legated to the directors.. He did not see how that could be obviated. A general meeting could not be called every day, and if it could, shareholders would not attend. They observed what a few were present that day. Mr. Cartwright contended by the Act of Parliament it was clearly provided.that the company should have the power of determining how new shares, were to be issued —not the directors. Acts of Parliament were drawn up by clever men,and when they ustd the word Company" they meant the Company; when they used the word directors," they. meant directors. He maintained tha were all the stock not taken up, ai special meeting ot. proprietors should be called for the-purpose of determinf ing to whom and upon what terms the surplus should. b- disposed of. 6 Air. Jenkins agreed with Mr. Cartwright that the word company meant the shareholdecs. But the way he put it was this, that the Company,, in special meeting, should delegate the power to the directors. And, after all,, what was that power ? Why simply leaving it to the discre- tion of the directors to accept applications for shares, from A or B. Mr. Cartwright thought the shares, it any,, that re- mained after the ordinary shareholders had taken what they felt disposed to take.. should be offered to, the prefe- rential shareholders. Mr. Jenkins was suse, if there should be-a large nuOl" ber of shares unaccepted by the ordinary shareholders, and the meeting expressed a desire that such unaccepted shares should be offered to the preferential shareholders before they were offered to the general public, the direc- tors would pay deference to such a wish. After some iurtber discussion, the resolution having betn seconded, and Mr. Cartwright, in reply to the Hon. Chairman, de- dining to. move an amendment, The resolution was put and carried. The meeting then broke up, The Hon. Chairman remarking that so long as he was a director everybody should have fair play. Nothing should be done in adishoncst,but everything in a straight. forward way.

RELEASE OF M. DE VIDIL.—On Wednesday M. Alfred de Vidil, sentenced by Mr. Justice Blackburn to be imprisoned for contempt of court in refusing to give evidence on the trial of his father, the Baron de Vidil, was released from the gaol of Newgate. Several of his r la tions were in attendance to receive him on his d.-charge. The Baron de Vidil is still an iamate of the tense of Correction, Coldbath-fields, ani is daily em- p.oytid picking oakum, his-age exempting him from the isfcbouri of tteadwfceeU ¡..b:b