of view at first; but
finding that it had taken so serious a turn, he had come forward and
confessed it, in the hope that the Stock Exchange would not pursue it to
extremities, and carry on the action against him, or the prosecution: He
was asked whether he had any connection with Lord Cochrane, Cochrane
Johnstone, or Mr. Butt, which he denied.

_Cross-examined by Mr. Serjeant Pell._

_Q._ Do you know what it was that immediately led to Mr. Holloway's
making this communication to the Stock Exchange?

_A._ No I do not; nothing more than the publicity of the measures which
they were taking to follow up the parties, I believe.

_Q._ Did you not learn at the time from Mr. Holloway during this
conversation, and from Mr. Lyte, that M'Rae had offered to come forward
for a very considerable sum of money and state his knowledge of the
transaction?

_A._ That had been stated before publicly I believe in Mr. Cochrane
Johnstone's letter.

_Q._ I ask as to the conversation at the time, do you recollect whether
or not at the time of this interview between Holloway, Lyte, and the
gentlemen of the Stock Exchange, any thing was said about M'Rae's having
offered to be a witness for a large sum of money?

_A._ There was certainly something said, but whether it was mentioned
first by the gentlemen of the Stock Exchange, or by Mr. Holloway, I
cannot recollect.

_Q._ Did not Mr. Holloway state, that in order to prevent the gentlemen
of the Stock Exchange paying a large sum of money for the communication
that would be paid in fact for nothing, he would come forward and state
the part of the transaction in which he was concerned?

_A._ I believe he did.

_Q._ It was understood by the gentlemen of the Stock Exchange, was it
not, that that communication of M'Rae's was supposed to extend to my
Lord Cochrane's part in the transaction?

_Mr. Gurney._ What was understood cannot be asked.

_Mr. Serjeant Pell._ I ask as to what was said at the time, was it not
said that M'Rae's communication was to affect Lord Cochrane's share in
the transaction?

_A._ I do not recollect that that was stated.

_Q._ I think you stated that Mr. Holloway or Mr. Lyte distinctly
asserted, that this business of theirs had nothing to do with that in
which Lord Cochrane was concerned?

_A._ He did.

_Q._ Do you know what was the sum that it was stated M'Rae was to be a
witness for, was not it so large a sum as L10,000?

_A._ That sum had been st