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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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im 4 T B E M A D E B . fNo . 497 . Oct . 1 , 185 Q .
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hailed some foolish partizans of the shipping interest ; to contend that freight is paid by the producer and not by the consumer . All cost is , of course , payed originally by the producer , cost being the measure of his toil -but his cost must be repaid him , or he would not and could not go on producing ; and it can only be paid by , the consumer . In the ; end , therefore , though in individual cases some exceptions may occur , all cost must be paid by the consumer , freight included ; and it is merely an error to say that freight is paid by the producer .
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PRICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET .
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The shares of the Van Djbmen's Land Gompant have advanced to between 13 and 14 , in consequence of an auriferous quartz reef , having been found at Circular Head by one of the tenants of the company , and also of gold being discovered on parts of their property at the Surrey Hills and Emu Bay ^ as well as in neighbouring districts . The paying character and extent of these deposits remained to be ascertained . A sample of the quartz at Circular Head had sent to Melbourne to be tested , and it was oxpected that some of the other portions of the company ' s lands would soon bo surveyed by the Government geologist .
Tho proceedings at the mooting of the Brazilian Lan » and Mining Company wore not very interests ing , and wero ultimately adjourned to receive the report of the agent sent out to effect the realization of the assets of the National Brazilian Association , in connection with whioh the now company was started .
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At tho half-yearly meeting of tho JnrwQTntan Railwav Company a report was presented , stating that the rovenuo for the hnlf-year was 41 , 730 , showing a considerable increase ovor tho corresponding six months . Tho expenditure was 41 , 326 , leaving a balance of 4410 , out of whioh tho directors proposed that a dividend at the rate of 2 * per cent . ( less
income tax ) should be declared . The report was adopted and the dividend declared . The report of the directors of the Smyrna and Aidin Raii / vtay- states that they expect to open the first forby miles out of Smyrna early in the spring , " when it is understood that the Sultan and ministers of the Porte will attend . " Mr ; Jackson , the contractor , " finding that his other engagements prevented his doing full justice to the Ottoman Railway Railway , " has , with the concurrence of the board , relinquished his contract . The directors have accordingly entered into a contract with Mr . Crampton , upon the same terms as that with Mr . Jackson . They again express their confidence in the complete success and profitable nature of the undertaking . The half-yearly meeting of the Buffalo and IiAK £ Huron Railway Company is called for the
20 th of October . The main line of the East Indian Railway * from Burdwan to Synihia , on the River More , about twenty-tiro miles beyond Beddiah ( to which latter place trains now run ) , has been finished , and will be soon open for traffic . The bridge over the River Adjai > consisting of thirty-two arches of fifty feet span—the principal work between Calcutta and Rajmahal—is now complete ; and the difficulty of constructing an immense amount of cubic feet of brickwork , in spite of frequent failures in brickmakiner , has been at last overcome . The traffic
between Synthia and other places on the line cannot be expected to be very great , as it is but a small village . It is , however , but a few miles from Sooree , the civil station of Beerbhoom , and there are a good many villages in its neighbourhood , and experience has shown that the passengers for short distances by the third class are the main support of the railway . It was stated in 1857 that the receipts from the third class were nearly four times as much as from the two higher classes taken together , and the ratio ber tween the receipts from the different classes continues about the same , although the profits of the line have increased 3 or 4 per cent , since that period . at
In reply to a complaint brought on Friday Preston against the East Lancashire Railway Compaky , that they did not consume the smoke of their engines , as bound to do by law , it was endeavoured , on the part of the company , to show that the onus lay with the engine driver and not with the company . The engines of the company , it was said , were all constructed on the principle of burning their own smoke , and in proof of this Mr . Lees , engine superintendent at Bury * was called , who produced a plan of the apparatus used . The bench , however , were unanimously of opinion that the engine was not constructed so as to consume its own smoke , according to the Act of Parliament , and they
therefore inflicted a penalty of $ 1 . The works on the Cape Town and Wellington Railway are being vigorously prosecuted . Several portions of it have been let to sub-contractors , and it is expected it will be opened from six to nine months within the stipulated period of three years . A company has been started , with the object of carrying a railway into the pretty district of Wynberg ; » railway is talked of from Cape Town to the Paurl , and in the eastern province there are several projects on foot for the establishment of " iron
roads . " The opening of the first railway will be a great event for this colony . At present the want of transport is most severely felt . The important matter of direct railway accommodation between Stourbridge and Birmingham was , by the adjourned meeting at Stourbridge , referred to a committee which met at the same place on Monday , Lord Lyttelton in the chair . The committee decided upon measures being immediately taken to secure the formation pf the main line to Old-hill , with a spur to Cradley-park .
. With regard to the Waterford and Kilkenny Railway , we learn that negotiations between the directors of this and tho Waterford and Iamerick Railway are nearly completed . The Kilkenny line will shortly be leased to the latter company , who , of course , will"have to pay to the loan commissioners the heavy Government debt due by tho Kilkenny board . The London and North Western Railway traffic return shows this week on increase of 45 , 276 ; the Groat Western an increase of 43 , 051 ; the Great Northern an increase of 42 , 315 5 and tho London and South Western an increase of 41 , 577 .
Tho half-yearly meeting of tho Perth and Duniusld Railway was held on Tuesday . The report stated that the capital expended amounted to 488 , 270 . The revenue of the half-year ( on whioh there was a slight increase ) amounted , with the balance from last account , to 43 , 119 , nnd tho expenses to 42 , 394 , leaving a balance of 4724 , from which a dividend of 2 per cent , was proposed . Tho Chairman , in raov- ' ing tho adoption of tho report , stated that tho disputes regarding the railway station at Perth had unfavourably affected their traffic , and that the directors had endeavoured to Induce both companies
concerned to put a stop to their suicidal proceedings but without effect . The report was unanimouslv agTeed to . : y The Prefect of the Gironde , with a view to preventing accidents by fire-arms , has ordered that no person carrying a loaded gun shall enter anv public conveyance or public establishment , and that all captains of steamers , conductors of stnge carriages , masters of public establishments , &c . are forbidden to admit such persons without previouslyascertaining that their Aveapons are not loaded . Just as the railway train was leaving Spa a few mornings ago , a young female , handsomely dressed , but in a very disordered state , wished to leave by that train . She had been seen on the previous day at the Redoubt , where she lost several thousand francs , and had probably been rambling about for the whole night . The profits of the bank at Spa had on the day in question amounted , it was reported , to 1 , 113 , 571 francs .
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Port of London . —During the past week there has been rather less activity . The number of ships announced inwards at the Custom House as having arrived from foreign ports amounted to 270 ; there were six from Ireland , and 94 colliers . The entries outwards were 121 , and those cleared were-90 , besides 15 in ballast . The departures for the ' Australian colonies have been seven vessels—viz ., five for Port Philip : of 4 , 748 tons , one for Sydney of 918 tons , and one for Portland Bay of 432 tons ; the total amounting to 6 , 098 tons .
New Era in Steam .- —The voyage of the steamer Guatemala from New York to Panama . may be looked upon as the introduction of a new era in steam . navigation . This vessel was sixty-tluee days at sea , travelling 11 , 000 miles exclusively under steam , without touching at any port for coal , thus conclusively proving the competency of steam ships to accomplish long sea voyages , without the necessity of coaling on the way . The Guatemala ise vessel of about 1 , 250 tons , with first cabin accommodation for about 100 passengers , and her saloons are very roomy , so as to suit , the climate , Her average consumption of coal daily , in good and bad weather , was 12 A , tons , but she will run in the
Pacific 10 knots on 11 ; We need no better proof than this that there is no neccessity for vessels calling at Tahiti or any other port-on the trip , between Panama and Australia . If ships arc built sufficiently large and suitably constructed , they can carry coal for the entire voyage with ease , giving plenty of room for freight and passengers . When the Guatemala left New York it was generally surmised she would , like all her predecessors in that voyage , have to touch at one or two ports on the way for coal , and it was with no little surprise that people learned on her arrival that she had come in the discussious
direct . Hitherto a leading point on the Australian route has been the halfway stopping place , but now the place , and the time lost in calling at it , may both be left entirely out of the question , and the through trip from port to port may safely be calculated at not requiring over thirty days—the Golden Age came over in twenty-eight running days , but lost eight days coaling at Tahiti , or a quarter of the entire voyage . This subject is well worthy the attention of whatever company may prooure the Australian mail contract , and we trust ihe facts which it reveals will not bo lost sight ol . —
Steam Shipping Chronicle . Steam Whalers . —Within the last year or two steam-power has been appliocl to several vessels prosecuting the northern seal and whale fisheries m Greenland and Davis' Straits . Thus wo find tuo folio win s screw steamers fitted out from the several ports named : —Poterhoad- ^ the Innuit , 310 tons , and Jackal ; Dundee—the Tay , C 08 tons ; and from Hull , the Chase , 438 tons , and tho Diana , 455 tons . Recent explorations , such as that ot Uintain M'Clintook in the . Fox , have shown the advnntngos of steam in forcing a passage through icy channels j and we find the Jackal wintered in Davis' btrnits in 57-58 . We have not heard whother tho screw gives the vessels any advantages over their colleagues in tho take of souls or whaloa . — Steam MujipW Chronicle .
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Last This Week Week stocks : 3 per cent . Consols—Money 9 & 4 •>»§ Ditto Reduced ... •• 96 $ Ditto New " |» BankStock 5 ??* of ? India • » 7 ~ g Exchequer Bills .... . - • £ » ¦ ~* Canada Government 6 per cent . . • ii < i * ** New Brunswick Gove rnment 6 per cent . .. .. 111 * . New South WaleB Government 5 per cent . 110 * . 101 South Australia Government 6 per cent .. 110 110 Victoria Government 0 per cent ,... 111 1114 Austrian Bonds , 5 per cent .. .. i Brazilian Bonds , 5 per cent .. ¦ ........ - '• .. - a Z ' French Rentes , 3 per cent 68 . 90 Mexican Bonds , 3 per cent •»* Peruvian Bonds , 4 £ per cent . : ; , Spanish Bonds , 3 per cent . . «» i Turkish Scrip , 0 per cent ... ... RAILWAYS . Bristol and Exeter ..... ....... 99 100 Caledonian ... ' 88 ** - 88 * Eastern Counties 56 * . 56 £ East Lancashire .. .. Great Northern ; . 1 Q 1 * . 102 * „ Western 62 63 $ Lancashire and Yorkshire 96 * 96 London and Blackwall 66 06 London , Brighton , and South Coast 112 113 London and North-Western 94 J 93 | London and South-Western :. 93 93 | Midland ? ... ; 105 * 105 J North British ... •• -... 59 § 60 North Staffordshire ............ 4 d 3 gd Oxford ; Worcester , and Wolverhampton .. 32 33 South-Eastern 75 f 77 * . South Wales ... 63 J 70 Bombay , BarodaandCentralIndia ..... ... 17 17 Calcutta and South Eastern .. * p - Eastern Bengal gd Id Eastlndian 100 * . 100 Great Indian Peninsula 9 $ 97 * . Madras 90 86 Scinde , 19 * 19 * Buffalo and Lake Huron 5 } 5 § Grand Trunk of Canada 36 37 Great Western of Canada 13 } 14 Antwerp and Rotterdam 48 . 4 £ Dutch Rhenish 4 § d 3 i d Eastern of France , 27 27 : Great Luxemburg 7 % 7 ¦ Lombardo- "Venetian . . p l * p Northern of Franco 374 37 * Paris , Lyons , and Mediterranean 35 3 & Paris and Orleans 66 07 Southern of France 21 21 Western and JNorth-Western , of France .. 23 * .
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* ' ex . dlv .
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JOINT STOCK COMPANIES .
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RAILWAY INTELLIGENCE
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We regret to hear that Mr . Robert Stephoiwou , tho eminent engineer , is seriously ill . Rowing Match on tub JjXoo MAoaionn . —Some English residents at Turin are preparing to /' on n " at tho forthcoming regatta on the Lngo WuggioKSome few days since a hurricane shiveroa to iuoii o tho four-oared cutter whioh had juet arrived now England . But , no way daunted , another wjw o » - derod from Searlo ' s , and it is hoped will arrive m time ( the 15 th Ootobor ) . Last year tho Fuc » in tho three races ou tho Lago , H * K were brilliantly carried ofT by English gentio men .
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Citation
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Leader (1850-1860), Oct. 1, 1859, page 1114, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2314/page/22/
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