Lord Sondes, chairman of the London, Chatham, and Dover railway,
and Lord Harris, vice-chairman, have issued a circular this week announcing the insolvency of the Company. They have
lone since ceased to pay dividends, and now, as Lord Sondes puts it, "In consequence of the state of the money market and their yet undeveloped trenennaetbe eenKyany are,nealele to obtain new, loans to replace thieldeleeuteiree 4abo440041000 fellideepelee alpet‘c month, or even to pay theelialleyearee interest which ti on bewail payable on the whole of the comp iny's debentures." The Cough of Chancery has appoiatA a receiver for the income of the come pany, "all the rolling stock, plant, and movable chattels hav,c been assigned to special creditors for the general benefit of all ," and the company now appeals to everybody's forbearance. Of course the Board invites " the fullest investigation," of course questioners will be told that answers would he imprudent, of course the Board thinks that if everybody does as the Board tells them the "com- pany will be placed upon a satisfactory and permanent basis." Boards always Say that kind of thing ; meanwhile we would just note that the chairman looked to loans, and not to revenue, to pay the interest on debentures.
