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October 18,1856.] THE LEADER. 987
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STATE OF TRADE. The reports from the man...
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IRELAND. The Anti-Church Endowment Movem...
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THE ORIENT; INDIA. Tiik preparations for...
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AMERICA. The deplorable animosity betwee...
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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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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October 18,1856.] The Leader. 987
October 18 , 1856 . ] THE LEADER . 987
State Of Trade. The Reports From The Man...
STATE OF TRADE . The reports from the manufacturing towns for the -week ending last Saturday confirm all that has been said regarding the extent to which the trade of the country is independent of the movements of the discount-market . In no quarter is there the slightest indication of the advance to six and seven per cent , having interfered -with the regular course of operations ^ At Manchester , prices have been fairly maintained , and goods for the most part are firmly held . At Birmingham , there has been full employment , and general prospects are encouraging . Foreign orders are received to an average extent , while from Australia the demand is active . For iron , previous quotations are still maintained by the leading firms , although there is much underselling . The Nottingham advices describe an active business botli in lace and hosiery , with a tendency to higher prices . In the ¦ woollen districts , there is great steadiness , the home demand being satisfactory . The Irish linen markets have again been without variation . —Times . ;
In the general business of the port of London during the same week there has been increased activity . The number of vessels reported inward was 288 , being 112 over that of the previous week ; arid the number cleared outward was 123 ( including 17 in ballast ) , showing-a decrease of nine .- —Idem . : The committee of depositors of the Royal British Bank have issued a circular to tha depositors recommending them to support a winding-up under bankruptcy , and proposing Messrs . Wyld , Taylor , and Mitchell , as assignees . .
Mr . Harding , the manager of the estate of the Eoyal British Bank , has written to tlic papers to correct some false reports of what he said to Mr . James Wyld , as repeated by Mr . Wyld at the meeting of depositors at St . Martin ' s Hall . He writes ^ , —" Mr . Wyld is represented to haye said that I stated ' that , if the depositors would accept a composition of -15 s . ' . in the pound , I vrould pay a dividend of 5 s . in the pound in the month of December , 185 G , and issue promissory notes , under the authority of the Court of Chancery , for the payment of 5 s . in the pound at the end of six mouths , and 5 s . in the pound at the end of twelve months . ' I called upon him after the appearance of the reports , and reminded him that I had distinctly stated at our interview
that it was not within my province as interim manager to make any proposal of compromise , but that there could be no objection to my receiving through liinv the views of the depositors as to some arrangement , and that , in reply to his inquiries , I expressed an opinion that 5 s . in the pound could probably be paid-this year , and that , if the creditors required so much as 15 s . In the pound ( that amount having been suggested by liiirtself ) , it could not be paid " ¦ within , twelve months . " With respect to the issue of promissory notes , Mr . Hardinge simply called Mr . Wyld ' a attention to the terms of the Act of Parliament . These matters -were correctly repeated b 3 jVir . . " WjrtO . at the meeting ; but the reporters made some errors .
Mr . Harding has been appointed ofllcial manager for the winding ujj of the Koyal British Bank in the Court of Chancery . His previous appointment was that of interim manager . At the Court of Baukruptcj ' , on Monday , notice of appeal against the adjudication was given on behalf of the directors of the bank . Mr . G . M . Giffard arid Mr . Joseph Brown , of the Middle Temple , have given their opinion that the authority of Chancery and that of the Court of Bankmptcy , with respect to the lloyal British Bank , are not necessarily conflicting .
Mr . John M'Grcgor has forwarded the following letter to the editor of the Glasyow Daily JVews : — " Sir , —With respect , to the calumnies ¦ which have been charged against me , I need only advert to a simple narrative of facts . First , I was neither the projector nor founder of the British Bank ; Mr . Menzies was the projector . Messrs . Mullens and Puddi . son , and Mr . Moxhay , then proprietor Of the Commercial Hall , -wore those who first proposed to me to become a director , while I was residing at Brighton , to which place Mr . Mullens , Mr . Menzics , and others came to persuade me to assist them to get a . charter . I refused . Afterwards , on the ground that industrious traders , nrtizans , and shopkeepers had no banking facilities in London , as in Scotland , I very imprudently consented to become a director . . . . I relied implicitly on the manager and Mr . Mullens . They , on the weekly board day , placed before the board a statement of the affairs
of the bank ; arid up to the time I left the direction I believed everything correct . Neither I , nor any other director , as far as I am a ^ nre , knew anything of any private book kept by the manager , nor could 1 know the persons in tho City whoso paper was worthy of being discoun ted- Dannellcr and Scales were represented by the manager , on tho authority of an eminent gentleman in the Bank of England , us fully trustworthy . This led to the disastrous advances on their coal and iron works in Wales , and which , so long as I was a director , I urged should bo realized , instead of attempting to work them , —a similar attempt on tho jinrt of tho Bank of England having utterly failed ; u second blunder wan , advancing on the security of Westminster Improvement Bonds—a third was , on tho shares of tho Islington Cattle Market—a jourth was , to a shipowning linn , Oliver , of Liverpool . Of tho value of such securities I could know nothing As regards liabilities to
the Royal British Bank , I deny the amount of debit , either legally or equitably ; and for any legal debit , which , when X can ascertain the details—which I cannot for some days—there are numerous onsets , as transferred New Three per Cents in the Bank of England , 1000 ? ., then at 95 ^; 500 ? . stock at par ; other securities , valued each at from 300 ? . to 400 ? . ; tvo valuable life policies , that especially of a very old one , in the Law , for 1000 ? ., to -which several large bonuses have been added . As I have concluded in haste , I will only add that I will not shrink before calumny , nor shirk from paying any just claim that may be proved against me . I will not yield to clamour nor injustice . —I am , & c , J . MKJkegok . Athenaeum Club , Oct . 9 . "
A serious question has presented itself , bearing on the contest as to the best mode of winding up the bank . It appears that by the terms of the lease of the mineral property in Wales , held by the bank , and which has been estimated at a value of 40 , 000 / ., the title to it will become void in case of the holder or holders passing uuder bankruptcy or taking the benefit of the Insolvent Act . In the event of the estate being wound up in Chancery , and the bankruptcy proceedings being superseded , this contingency would not arise .
Ireland. The Anti-Church Endowment Movem...
IRELAND . The Anti-Church Endowment Movemeitt . —The movement against the temporalities of the Irish Church , commenced in . the county of Cork , is , it seems , about to be followed by a series of demonstrations in other parts of the kingdom . A requisition is in course of signature convening the Reformers of King ' s and Queen ' s Counties , and the county of Kildare , to > adopt such measures as will best promote the success of Mr . Ifliall ' s motion . — Times . "' '" -. ¦ ¦ ¦ . ¦ ¦ . ¦ ' ¦ ' ¦ ' ' ¦''¦ . - . ¦ ' , - ¦ . - ¦ The Tippeeaky Bajjk . —la the office of . the Irish Master in Chancery , on Monday , an application was made on behalf of the Newcastle Commercial Banking Company for liberty to exhibit a proof for 51 , 899 ? . 5 s . 8 d ., m . which amount the applicants averred that the Tipperary Joint-Stock Banking Company was indebted to them . An affidavit bad been . filed by Mr . Walker , the
public officer of the Newcastle Bank , and it was there sworn that six drafts of the Tipperary Bank were drawn in favour of Gurney , "Wilkinson , and Co ., or one of that firm , and endorsed over to the Newcastle Bank , by which they were discounted , and , 51 , 000 ? . advanced . It was now sought to exhibit a proof for this sum , together with 899 ? . 5 s . Sd . interest , the handwriting being admitted . Another application was made for liberty to proceed at law against the official manager , for the amount of the proof . This application , after being demurred to , on the ground of being unnecessary , was ultimately planned by consent . The name of Mr . Robert Keating , M . P ., was placed upon the list of contributorics . as the owner of one hundred and eighty-five shares in the Tipperary Bank . The nest business was the consideration of an application to Parliament for a bill to enable the creditors to accept a compromise . The application was postponed pending negotiations .
The Latis Barox i ) E Koiieuk . —Ihe body of . this nobleman was discovered on Saturday evening in the river Liff ' ey . It was in an advanced state of decomposition , having ; Iain in the water for eleven days . An inquest has been held , and has terminated in the following verdict : — " " We find that the late Baron de Robeck was found drowned in the river Liffey , in Captain Colthurst ' s demesne ,, on the evening of the 11 th hist ., and we believe him to have been accidentally drowned near the Salmon Leap on the evening of the 30 th of September last . "
lltAGKDY . AT THE CURRAGlt CAJIP . A shocking 0 Ccurrence has taken place at the camp on the Curragh . It appears that a dispute arose between a sentry of the 5 Gth and a soldier of the 18 th Itoyal Irish , when the latter threw a large stone at thehead of the 56 th man , which fractured his skull . The assailant immediately after took flight , lint was overtaken by a comrade of the sentry , who , it is alleged , stabbed him with his bayonet in three different parts of the body , and left him on the ground n lifeless corpse . —Times .
The Orient; India. Tiik Preparations For...
THE ORIENT ; INDIA . Tiik preparations for a Fcrsiim expedition , arising out of tho occupation of Herat by tho Shah's troops , are still vigorously maintained , and the Indian Government only awaits orders from England . In . tho meanwhile , two steamers have been , ordered from Calcutta to tUo Persian . Gulf . There- is no further news from Herat ; and it therefore renuiins doubtful whether the Persians arc still at that locality , or not . From tho Punjaub , we hear that some of tho hill tribes living on tho borders of the Meonuizio valley are committing raids on the low countries . The Punjaub is suffering greatly from cholera , nnd tho accounts from Lahore arc described as frightful , The mortality among the soldiers has been alarming ; but the Europeans are tho chiuf su / Tei-ars . Oudo is perfectly tranquil .
During tho absence on sick leave of Sir . Frero in England , tho province of S < iindc is being administered by the Commandant of the Suiudu Horse , Colonel Jacob , Thid ofliccr has recently invented a riile shell , of u
conical or cono-spherieal form , which has great effect at a range of 1200 yards . The Indian Government ' opened a new loan on the 30 th of August . The rat © offered is 4 £ percent ., and the loan is not to he paid off till 2866 . It appears to be very unpopular among the naoney-dealers . The money is required for public works . —The missionaries have gone up to the Central Government -with a petition for inquiry into the social state of the people of Bengal . The paper has been signed by every missionary of influence in Calcutta .
" A very remarkable address , " says the Times Calcutta correspondent , " has been presented to Mr . J . P .. Grant , member of Council , by a large bod y of Hindoo gentlemen . In it they thank him for his exertions In behalf of the act permitting widows to remarry , and Urge him to continue his efforts for the abolition of polygamy . Petitions by the dozen reach the Legislative Council on this subject . They are all of one tenour , praying for the abolition of polygamy by penal statute . " We read in the same letter : — " Considerable sensation , has been excited here by an offence committed by an officer on the staff of the Governor-General . At a ball given for the benefit of the sufferers by the French inundations , he gave cards to persons of bad character . Social offences of this kind are rare in Calcutta . The offender has since apologized . "
Money is plentiful at Bombay , but the market has been a good deal disturbed by the Government loan . The export market is firm , and the import trade has improved . The same report is given of the Calcutta markets . ' The excitement on the . ' railway question in Ceylon continues . The Company Bill and the Export Duties Bill have been lead a third time . Penny postage is to be introduced . . " . ' ¦• . - ¦ ¦ . ¦ ' . ' ' ¦ ¦ . . ¦ . 'EGYPT .. ¦ ¦ ¦¦ .. ¦'¦ ¦ ' ¦ . ¦ ' " ¦¦ . The "Viceroy has returned to Cairo from Upper Egypt , whither he had proceeded to inquire into the causes of ' the late inundations , the injury caused by which , however , is but slight . The Nile has risen twenty-four cubits , which is thought to promise well for the harvest . There is a project for lighting Alexandria with gas . This city has been greatly improved of late years ; the Christian population is rapidly increasing-, and the Arabs are becoming more European in their habits , several of the women having given up the veil with which they covered their faces . ¦ . ¦ ' ¦ . ¦ ... : . . . ¦ : ¦ . ¦ ... ¦ ¦ ¦ ¦"¦ "¦ ¦ - ¦ ¦' . :
America. The Deplorable Animosity Betwee...
AMERICA . The deplorable animosity between the North and the South continues to \ vax in intensity and importance .: A great Democratic ( pro-slavery ) meeting ha 3 been held at Richmond in Yirgiuia , at which Mr . Wise , the Governor of the State , made a very fierce speech against the abolitionists in general , and Colonel Fremont in particular , and was vociferously applauded . He said lie loved the Union better than any . ¦ ' ¦ ' Black Republican , " and that he knew of but one thing worse than disunion—viz ., dishonour . That man would be a fratricide -who , without sufficient cause , would light the flames of civil war : but ,
" rather than wear dishonoured chains , " and be subdued by the North , he would do whatever the meeting would back him in doing to save them , or would die . He would fight , if fight he must , to save , not to destroy . Such a contest would be " a civil war of liberty against despotism . " He concluded :- —" What the abolitionists consider our -weakness we will prove to be our strength . With a proper knowledge of military discipline , I will prove that'our faithful slaves can and will repel the Black Republicans and their traitorous allies who may invade us . " .
California is reported as in a very prosperous etarto ; but acts of violence are still of frequent ocewreuce . A report has prevailed at Panama to the effect that a treaty of peace hud beer agreed to between Geneval Walker and the l ' rcaklent of Costa , Rica . On the other hand , there is a report that 1000 men of the allied forces were on the march for Granada . Colonel Schloasinger has turned up somewhere in tho interior . Having op « nly joined the enemies of Walker ,, ho has boea , busily engaged in circulating an address to tho < Americans in tho Nicoraguuu . service , urging them to dosert their colours , and denouncing- Walker as a traits aud . plunderer of tho people .
A revolution broke out in Peru , in tho latter pturt of August ; but the insurgents wore speedily i > u < , down by President Castillo . General Eohiuiquo , at tho last advices , was at . Vulpm-jiibO with tho war vessels aud large supplies of ammunition , and it was- believed he would soon endeavour to seize upon tho government . A despatch is said to have been received at Aspinwall from , Panama , just previous to tho departure of tho steamer , to tho ett ' ect that tho " blacks" who opposed Gunoral
Calvo's inauguration had broken out in riot , and that a number of persons were killed in tho affray , and one member of tho Legislature allot . It ia reported that commissioners liavo been sent to Franco to negotiate- a loan to pay ofl' the liabilities arising from the Punama riot of last April . Fever Is very prevalent at Aapinwall , Tho Supremo Court o-f Now York has just decided that " coloured persona" cannot legally be excluded from public enrriagea plying for biro by any rule of tho proprietors . The Judge who gave tliia decision was Judge
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Citation
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Leader (1850-1860), Oct. 18, 1856, page 3, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_18101856/page/3/
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