Tris seldom, in these quiet work-n-da timos, thatthe comniorcial world is treated to such a genuine piece of nature as the wail which hus escaped from Blessrs. Ashton &: Co., in the form of tivo circulars, addressed' to the Directors, Sharoboldors, Policy-holders, and In: surers of the North-China Marine Insurance Company. The wheel of for-tuno good round with unchanging irregularity, and some, buoyed by ho} sling fo thole partialae litle spoke until it areivos at the highest point, only to find thomselvosbiurlod from their lofty position, and left for a time wollnigh senseless on the ground; whil thors, who have boon able to endure the giddy height to which they may have climbed, are fain, when the inevitable ievolation brings them round once more to their starting point, to drop off weary and exhausted, and crawl away with him who has had the heavy full, to gather breath for a frosh effort. The inexorable Fatos are practised surgeons, and. with Keen knife and ready shears, they snip the throud of} the prosperous merchant or banker, bringing him by some unforosoon calamity, in the hoy-day of his prosperity, prone to earth 5 or by lopping Off some trusted connexion they oripplo him for yours to come, Hero, some well known firm whose name has become as household word, and upon whose integrity ho has staked a largo portion of his means collapses; while thoro, some young house which in its infancy ho has taken by the hand and guided to opulence, oF some foreign constitcont whose interests ho has devel id expectation, coolly withdraws bisharid with—thank you T can walk alone now," or—"on and after such a date we purpose conduct ing our own business'
Sharp must the anguish, cruel the disappointment which many a merchant has to endure in meeting such changes of fortae, Cherished schemes have to.be relinquished; sometimes retrenchment and oven personal discomfort are undergone, but in silence and without complaint, One and all business mon soam to have agreed that, alike from feelings of prudenceand dignity, they will mako sign to the outer world to show when the iron has gone home, But Messrs. Ashton é& Ao. are me financed by no such considerations. Their hopes have been disappointed, and they cannot restrain themselves, 'A cherished source of revenue bus boon withdrawn, and they are unable to contain their indignation at euch an ill turn of fortune. " They have suffered amputation at the hands of Fate; the hurt is very sore, and they bellow lustily; for they are determined that, the whole world shall know about it. Never was bad luck like unto their bad luck; never was "first class influontial firm' so iliused; and 60 tran. sported do they become with a sauce their own wrongs, that, before they are half through with their lament, they shut their eyes and strike out indiscriminately at friend and foo. It is not to be wondered at if, under such circumstances, and in such a frame of mind, Messrs. Ashton & Ca,, have dealt themselves far harder blows, and dono themselves much more injury than they have to any others, Me ood, looking at the question' sim ply as one of business polity, it la somewhat astonishing that n firm of wadi "business experience," "high standing," and "influence" us Messrs, Ashton & Ca, loudly claim for th aoives in their protest, sould think worth their while to take such marked, action, on the withdrawal of so trifling an income ns_their commission on the North Uhinn Insurance Co.'s business shows; atill more so, that. they should to palpably export, vit hand" to rival Houses, At first sight there is something quite touching in the Aisintorostod anxiety which Moss, Ashton & Ca. evince for the wolfnro of the Company, All their argu monty uro bent towards one the inevitable loss to, if not ti total annihilation of the Company, in the ovant of its being curried on for the now form under fresh nurpices. No word is breathed of personal Joss
vert to the past prosperity of the Com to thomealves, True, they do, ade pang and to the care which, doy have towed upon ite nurtaro; but itis only in a spirit of tonder_regrot lost remising a plant should be blighted Doing' placed in-loss experienced it is only on closer oxnani tation that we are uble to discover indi ations which force upon us, however unwillingly, the conviction that there are other interests which they are fx: more anxious to ndvanco than those of the Insurance Company, In the tone in which they impugn the sagacity of their Directors, as well us the votes of their follow shareholders, it in not difficult to trace a want of cour. tory; while the effect of thei disin. terested ansioty for the welfare of the Company is somewhat matrad by the unwarranted insinuations thrown. out, and by the thrent—which they do not oran attempt to voil—that, in the event of their wishes not being decoded to, they will be the first to endeavour to compass the destruction of the inatitution which they take so much credit for having fostered, The absurdity of the arguments ud. vanced by Messrs, Ashton & Ca. to tablish toit position, must be very parent to every one acquainted with the subject of which they front; bub as il views of a {luenco" and high standing on so important a question, it may not be uninteresting to discuss them in detail, The main argument which por~ vades both circulars, and to support which they have issued an analysis of the London basines of the Company from 1863 to 1807, is that they, having beau
Text read from the printed page and cleaned; old type leaves the occasional error.