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-'---TO AGENTS.

TO SUBSCRIBERS.

TO CORRESPONDENTS.

REACTION.

jTHE REV. MR. GORHAM.:

THE VICTORIA WORKS.

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THE VICTORIA WORKS. WE are happy to know that the Ebbw Vale Company have come to arrangements with the several parties interested in these works, and have purchased them. This is an event of no small importance to the workmen of Monmouthshire, and will, doubtless, in a short time, very considerably 't y augment the amount of labour required in that district. The history of these works furnishes a striking and impressive commentary on the folly and wickedness of uncaloulating speculation. The original Victoria Company was a joint stock affair, concocted at Bath; and its first manager was the late Mr. Roger Hopkins. There seemed to be no end to the means of the company. Everything was designed after the most expensive fashion, and rows of houses, and houses for managers and agents, grew up faster than the furnaces. At Aberearne, too, two pits were sunk—for the Victoria Company would sell coal as well as make iron-and, indeed, there were few things that it was not competent to achieve. A splendid gala-day marked the opening of the works, and all went swimmingly oll,until-until--a pressure arose in the money market. The destruction of property was fearful. Many very well conditioned families were irreparably ruined. A gentleman in Bath, who had invested his wife's fortune in the concern, went up stairs one day and put a pistol into his mouth and precipitated himself into the grave and into eternity. Suffering and misery of every kind ensued in the neigh- bonrhood, and for some few years the Monmouth and Glamorgan Bank have been keeping a few furnaces alight, not much to the advantage of any party we should fear. After so much blight and desolation, we are certainly very glad to find that these works have got into the hands of Messrs. Darby, and we joyously augur a season of substantial and lengthened prosperity for the whole of that beautiful valley. Mr Brown's name is sufficient guarantee to all the district that the management will be as efficent as it will be kind, and as kind as it will be efficient.

THE BISHOP OF EXETER.

CARDIFF.

ST. MELLOFS.

NEWPOIIT."VV

. MERTRYIL. "