The Sun. — London, England, 1840-02-29 00:00:00

EVENING EDITION. SECOND DITTO N.l, - - THE FUNDS-(CLOSING PRICES.) Barns}, IL NUS Back Stock .............- ..... 178?.4 India St,ck ..... .... 3 per Cent Bei ..... Ditto Bonds ............ 3 per Cent Ccri5................ SAN Ditto ()Id . 1 ( !intones...-. ...... lily ler Cent. lied New 33. per Cent 98.% . Ex. Bills, Leoo/..... d npm NeSv 5 i,er Cent. — Ditto 30 ,, 1 3pm L o ng A—mities to expire Ditto Small Jan. ISM ............. it 13-11 Bank Stock for 0pg............. Oct. lead Jan 1660 ............ ..... ; C onso ls (or Op, ...... ..... L. 01(EION lUNDS Austrian, 5 per cent -- I rortugiicse tlondz, 5 per cent. Baleiar. .5 per rent. — Ditto, New Ditto Ttraxilia. Bonil• 77N , Prussian. 5 per cent -. Burr , . A yrt..s, 6 per cent..... j Russia's Bond', S per cent — Chilian, ti per cent - :Ditto, Nletallic Coknnh.an. ti per cent.......... 'Spanish, 5 per cell' ti 9 3.,; Ditto, 1,c24... — 'Ditto, Dt•Aerreil Danish. 3 per cent... ..... -.....— IFrench, 5 per cent. ..... .... --f —, Greek Bonds, 1e125, 5 per et. Exchange I. — c Mexican, Spar cent — ;French, :i per cen' Ditto., par cent, ise.s ..... ..„, , Dutch, ...*4 per c-nt. il , ,, resr! iv ian, Itills,ti per cent 1 (H.l illitt :, , per cent. 10 0 ,%, RES Birmingham and Gloucester Railway '').l V. Great Wo , tern Railway Ditto New Share. lo Hull and Selby 2B London and rtrightum kmiway l9,Ni London and Birmingham Railway 154 Dilto Quar er Sh,res Hitt. New Shares London and Greenwich Railway Ditto New Shares London and Croydon Rahway ,'Flue~, Manchester and Birmingham liailwaay ........... 13 )lldlat3d Ccunties Railway 74 1 ,, ,,,tti m‘ilind I:ailwav Dl'to New Shares MrN GRAND JUINCTION RAILWAY COMPANY. The seventh half-yearly meeting of the Grand Junction Railway Company was held to-day, at the Company's Of. Ace. No 68, Chcapside. The CHAIRMAN of the Company, Mr. Cash, took the chair at one o'clock, and after having ordered the adver tisement calling the meeting, to be read, proceeded to say that he would not have to detain the Proprietors long, as the D'rectors bad little or nothing to add to the explanations they had given on former occaaiens. He thought that, in order to succeed in their objects, they should, if possible, bring the terminus into the City of London. It was only in compliance with the Act of Par liament they had been called together that day. He could not .ay what chance might turn tii9 in ;hair favour, and he could still only hold out hopes to them for the present. The report was then read, which showed a balance of 4,4551. 13a. 1 Id. in favour of the Company. Mr. CARYALHO wished to know if the slim of '2OO/ , which had been paid to the solicitor of the Company, wan the entire of his claim against them ? The CHAIRMAN said that the entire of his account was paid up to March last, and his charges since then must very trifling. Mr. Canvauto asked whether the balance cf 4 4331 13s. l Id. was at interest, and in whose hands, acd at what rate of interest it was ? The CHAIRMAN said the sum of 3,300/. was in the Lon don Joint Stock Bulk, and was invested a few days ago, for three months, at 3} per cent. The balance of cash was in their hands also. A PitoPaitt-ron asked what, in round numbers, was the amount of debt in which the Company was up to the pre sent moment? The CRAIRMAN said he had no doubt it was 4001. On the motion being put that.the Report be received, Mr. GALLOWAY said, bef,are the resolution was carried, he wished to know what was the reason the Company bad not gone to Parliament this Session ? He thought they were only losing time and interest by delay. The CELAIRMAN said that, having been unsuccessful in the last application to Parliament, it was thought better not to apply again without some better chance of success, which he thought they had not at present. They could not do so, moreover, without an extra call, and thought, under the present circumstances of the country the call would not be responded to. A SHAREHOLDER asked if the Shareholders in Manches ter had paid up their calls, and when the time would ar rive that, if they did not go to Parliament, the Company must die a natural death, and also what would be the ex pense of an application to Parliament ? The CH kIRMAN said the calls at Manchester had been paid up, and t've Company would expire in July, 1543, unless renewed by Parliament. The Zioucrroit of the Company said the expense of an application to Parliament would be at least 3,0001 , for it would be necessary to serve notices on every occupier of pr , mises on the lir.c of road, which were about 3,000, and which could not be done for less than 1/. each. Mr. CARVAI.IIO said they were bold the Company had upwards of 4,0001. in hand, and a ; they could not divide it he thought they had better spend it in an application to Parliament, which, if unsuccessful, would leave them in no worse situation than they arc at present. If they were successful he had no doubt a call would be responded to. Mr. GALLOWAY thought, as the expense was ao great, rad the chance of success so small, they had better revolve it in their minds against another meeting. He thought many persona would think themselves well paid for serving the notices by 5001. The SoLicurolt said he differed from the last speaker ; for himself, he would not do it under the sum stated. The CHAIRMAN said, though he thought they bad no chance of success at present with Parliament, he did not say they might not hereafter have ; but as it appeared to be the general feeling of the meeting that an application should be made, they had better pass a resolution to that effect, and if they and the country shareholders would en courage them to do so, by paying up a call, they were ready to do co. In awti:cr •o a question, the Chairman stated a q. call would be f. , efficient for th , ?. purpose. Mr. CAaVALIIO said he aimed not be understood as ed. vocating a call for this purpose—this was not the case. He wished the money in hand to be expended for the purpose. AftLr some conversation on the subject, the Report and the statements of the account were read and adopted. Messrs. Cash, Fish, Edwards, and Haynes, the retiring Directors, were then re-elected for the ensuing three years. Mr. GALLOWAY then proposed that an account should be laid hefote the Company at its next meeting of the ex pense of ascertaining the num'ier of assents and dissents to bring' ng their case again before Parliament. After some con versation, however, the resolution was withdrawn, it haring been agreed on to leave any proceedings on that subject to the discretion of the Directors. Mr. Fisn, after strongly eulogising the Chairman's zeal, Ability, and impartiality on all oecasious, proposed a vote of thanks to him for his services, as well generally RI on the present oeca,itln. A 811.1HE1101.DEr, seconded the motion, which being car ried with a vote of thanks to the Directors, The CHAIRMAN returned thanks, having expressed his hopes that at their next meeting he should have • better account tc lay before them, and the meeting separated. SPIRIT of the PUBLIC JOURNALS. FROM THE EVENING PAPERS OF Tills DAY. (From the Globe.) 'l'he present tactic of the Tory Opposition is making a species of catspaw of a small section of the Liberal p irty ; and setting Messrs. Hume, Leader, and Co. to pick tie it chestnuts from the fire. With this some what unequally Ihrthed alliance (for, were its objects :nice , s fill, the catsp tW3 - would simply find them selves singed,. while the chestnuts would accrue to the Torici)—_-a:id with the negative aid of the oct a:ienal or ch ince absence of another section of the parry who are arrayed agains't them on every decisive vote, the Tories have contrived (pare the Post). to swindle a few majorities after lcsing the decisive one on the quiet 'on of confi leuce. What the puldie have to consi ler, in this new play of political faction, is simply whether it tends to promote any besides factious ob jects. If it ha l, no legitimate bearing upon public in terests, the public will do justice on its authors, and defeat its purpose. The object, says Sir James Griham, i,-. to pass a vote of censure on Ministers. The object, says Sir Robert Peel, is to sccus e the independence of Comptrollers of the Ex chequer. The object, says Mr. Leader, is to establish the principle. that Governments shall give offices, not to their pArt's ins, but to their opponents. Nosy which of these laudable objects is realty served by the resolutions of Thursday'? A vote of censure they are not ; for their authors thirst not so frame them as to express a direct cen sure of the pension given to Sir John Newport. They do not secure the Independence of future Comptrollers of the Exchequer ; because that is secured already by the 1 act on which they are appointed, so far as legislation can secure independence to those who receive promo t'on. And finally, tl.ey do not establish the principle that fu we GOreinments shall promote their p arty Op ponen's instead of promoting their friends, because no parry, uh ) act on that principle, can ever become, or r •rnain—a Government. (From the Standard.) The Ministerial journals, unable to deny the defeat of their patrons on Thursday night, try to palliate that sig nd disgrace by: ascribing it to an un on of the Conserva tive and extreme Radical parties. It may be well to expose this fallacy at once, and we can easily do so ' iby ' 6 - reertirr , too the list of the majority. In that list, it is true, will be found the names of Mcssrs. Grote, Hume, Leader, Sir William Molesworth, and \%ald'Y , and, perhaps, one or two other Radicals of less note, but certainly so many as nine Radicals are not discoverable in the list—whereas, in the minority we see, besides Mr. °Connell and the whole of the T tit, without any omission, all the British Radi cals, ,accept the few we have named, dovvo,:even to the lately elected Radical Mem'ler for Southwatk, M-. Wo d. and the Republican Mr. Muntz. If, then, the Radicals who voted in the majority had abstained alto gether from voting, Ministers would still be in a minority of about twenty. If these Radicals had voted with their party, Mi n i sters would have ' hccn ' in a minority of at least te n , and is not a nii nority ot• ten upon a vote censuring an act o f h Government a sufficient disgr ace ? I n other times Ministers, who upon such a vot e cou ld not command majority at least exceeding the nu m b er of their pia,ttheea imen (aboutfi.rty) would feel th e necessity ofurresiegtngt; and no longer ago than last May, Lord Melbo n w u p office, or pretended to do so, upon a discomfiture far Iless unequivocal than that of Thursday— a discomfiture 1 upon a questiott too involving no censure upon his Gcrern- I merit. (From the Courier.) i r Dni the soreness of our friend the chronicle about the meeting of :Middlesex Freeholders, and the mortifi cation at its result, we are led to understand the parti cular degree of importance attached to it in cert^;n q uarters. A successful demonstration at the Freetn, - sons' Tavern, in a contrary sense, might have atoned, it 1 seems, for disgrace and defeat in the House of Com mons, and so Chronicle leaders, all fire and tow, were poured forth day by day, to summon and reinforce the confederate band of ruffians for action who before invaded the past and assumed to perform the functions of that re spectable class of men, the Middlesex freeholders. The conspiracy failed, however, and the swell mob and hired bullies at half-a-clown each for the day's job were igno v.niniously overpowered. The Chronicle, with impu dence most diverting and amid writhing most fantastic on one occasion, denounces it as a " hole and corner meeting," in the face of the advertiseme nts calling the meeting, and the fact that all who desired, and could justify a title as Freeholders, might have procured tickets, and thus obtained an entran ce as of right. MIDDLESEX COUNTY MEETING. THE SHERIFFITE R.OW AT THE FREE MASONS' TAVERN. Of all demonstration= of sheer, unmixed, unqualified, unlimited, unadulterated, humbug—the long-promised — much vaunted—perseveringly placarded—universally ad vert i;ed—so-called " county meeting" at the Free m?sons', touching the Sheriffs—was the greatest and the most diverting. Enraged at their signal de feat, on their -first attempt. the Sheritlites resolved to `a t h oroug h.pseed, party-packed, real, snug, (rai of their own. S) they , having covered s t get meeting up'' all London Kith bi!ls. inviting the attendance of c l,7ctors--carefully blockaded the doors of the Free. masons' with police:men—stationing at the outer door, as sentinel, Adey, the anti- Waidey Coronership_candidate, and one of the most industrious vote-objecting, Registry- Court-attending " helps" of the " Conservative Associa tion ;" and he exercised on the appearance, countenance, and other outward malifestations of those who applied for ad mission, a severe scrutiny, to see if there were any latent Ra dicalism. or any Anti- Sheriffiteism ; if not, he allowed them to pass. Thence they had to enter a room where s , O iss "secret solemn conclave" other self-important functionaries of the illustrious Association—with books before them, they called the registry. Weil, these sapient personages—on a gen tleman presenting himself—in an impertinent manner pro ceeded to interrogate him as to the exact locality of the property of which he claimed to be a freeholder, and if they could not find his name on their books refused him a ticket, without which other authorities at the door of the large room would admit nobody. We approached these " potent seigniors." We re spectfully requested a ticket. " Freeholder?" asked a person named Payne, exceediney active in the afore said Conservative Association. " No," said we (in ternally wishing most heartily that we were so substan tial). " But we are reporters for The Sun." Reporters I —shan't give any more tickets to them—two persons from your paper already." We endeavoured to impress upon this obtuse individual that The Sun being an evening paper, and wishing to got out the report the same even ing, more than two reporters would be required, but to no purpose, and we were obliged to wait till long after the hour fixed for the meeting, and should not have got in at all had we not appealed to the courtesy of a Gentlemen among the party—a friend of ours, a Mr. Quin—who, about half past one, enabled us to obtain entrance—and we should mention that while we were waiting, we saw several per sons obtain tickets as reporters, but doubtless they were for Conservative papers. We passed on then towards the Freemasons' Hall, in the colifident anticipation that all these carefully offen sive precautions would secure a perfectly docile and tranquil Sheriffite meeting. What was our amazement when, as we walked along the lengthened passage leading to the Hall, we heard the distant thunderings of an uproar, as decisively indicative of a " row," as any that ever greeted our expectant ears. What I" a row," among the " constitutional," " Conservative," " Sheriff loving" freeholders? Yes—so it was. We entered the room— we were stunned—astounded—by a tempest—a whirlwind of noises—compounded of vociferations as violent as ever issued from a Chartist gathering. We endeavoured to discover the cause, bat the crowd was now too dense to permit us to pass upward to our appointed positions. We with difficulty elevated ourselves to see " Old Glory" about the centre of the platform, the very focus of the row. evidently strenuous in his endeavours to be heard, and gesticulating with wild and impotent vehemence. The clamouringa were as contradictory as they were powerful; shouts of " Off, off," groanin g , hooting, hissing!, mingled with hutzaing,, stamping of feet and clapping of hands ; while the galleries were crammed with persons whose ardent admiration knew no bounds, and who, not contented with waving hats and handkerchiefs— tied the latter most scientifically to their sticks—and then exhibited in schoolboy exstacy their mimic banners. Wherever we went we found that at least an equal proportion—we should say a mijority—of the freeholders thought the " Sheriffite" demonstration pure " humbug ;" but each party was as pertinacious, as excited, and the thunders of disappro bation and approbation alternately overpowered and ex tinguished each other like the roaring of the winds and the beating of the billows. We have beheld many " rows"— Chartist rows and Tory rows—meeting rows and dinner rows —Exeter-hall rows and London Tavern rows—but in none did we ever witness such determined continuity of clamouring —such awful vigour of lungs. It seems to us clear, now, that a man's means and his position for vociferation must be in the ratio of his freenold property, since the uproar of the freeholders would quite overwhelm the din of Radicals. For about half . an hour, in spite of all Sir Francis's exertion, not a syllable could be heard ; the freeholders seemed to have abandoned themselves without restraint to all the luxury of noise. At last the Hon. Baronet gave a more energetic flourish than usual, and sat down amidst a tempest of up roar, more tremendous than the others. Fur some time the platform people did not know what to do. For anybcdy to attempt to speak would have been eb-eird, the explosions of Tociferation were as continuous and powerful as ever. Sud denly an officious somebody exhibited a placard, which we be lieve had been distributed about the shops before, putting the question pithily thus---" Where is Sheriff Evans ? —ln prison. \\ ho vent hint there ?—The House of Commons. What for ?—For obeying the l.tw." The only misfortune about this conclusive substitute for a speech, being that it begged the whole matter in dispute; it being just the point discussed, whether the privilege claimed is privilege ; and if so, as the law of Parliament must be the law of the land, it would seem that the Sheriff was rather in prison because he chose to obey Lord Denman's law than the law laid down by every legal authority without exception, in the House of Commons, and every statesman of the day. However, after waiting some time, it appeared that there was no chance of anything being heard, so the illustrious champions of the Sheriffs, headed by France and Sir Francis, left the hall, which rung to the very echo with the shouts of en thusiastic cheering and indienant reprobation. Then Col. Wood arose, rind gesticulated as vehemently as Sir Fran cis had before, and with as little effect. In fact, we never have beheld a meeting in which there was such a persevering pertinacity of noise. We happened to go down stairs, and found the Sheriffite party, with several Aldermen, quietly ensonced round the fire of the " scrutiny-room," and we heard a largo crowd of very respectable looking persons outside the doors assured that the meeting was over I On Mr. Under- Sheriff France coming out, a sturdy freeholder, (but, mark, we afterwards found a supporter of the privilege) energetically charged him with being con cerned in an infamous imposition on the public by pretending to call a county meeting, which was really a farce; on which some person following the Under Sheriff told the freeholder that if he had come an hour ago and said so, he would have had his head broke ; which exasperated our friend so, that he threatened personal chastisement to tl:o impertinent Sheriffite. Many electors loudly complained of their exclusion, and characterised the whole proceeding as a delusion. We ourselves saw a person, whom, apparently, Adey knew to be a supporter of the [louse of Commons, violently denied admission, though he claimed to he a freeholder ; and even, when on his earnest entreaty he was allowed to come in, and appealed to the registry, and his name was found, Adey did not scruple to say that he did " not believe he was the person, though he had got hold of the name." Nothing could exceed the indignation of many respectable electors who had been re fused admission when they saw persons evidently known by the parties, without examination, allowed to enter—yet from their appearance evidently possessing little property, and certainly unlike freeholders. In the words of a gentleman whom we overheard vehemently exclaiming in the hall against the exclusiveness of the arrangements—no Chartist mee'- leg could hate been more turbulent and uproarious. Mr. Warburton for some time, we saw vainly endeavouring to get a hearing ; but whatever was said during the whole proceeding was quite inaudible, save to those just under the speakers. Mr. Hume and Mr. Warburton were violently bustled, and mobbed by the Sheriffs es on going out, though by many they were cor dially cheered. NEWPORT, ISLE OF WIGHT. • n match, for 100 S P 0 RT I N G (FROM g ° ra u n a d p o i ' g r :o d There was a off at Staplers, near Newport, on Wednes colt , FSPO came seriously to have affected some of the gentlemen. strong and very cold wind from the eastward, wh 3 i i c r h . uselmemdeds h other at ten worth (London) and Mr. Hurst ( Alton) tied eac • birds, and shared the two first prizes between them, e. 40 and 30 guinea s . M r . R oach, of L i ttle P an F ar m, In d Mr. Illutitten, tied each other at. nine birds, and in shooting off, each thrice killed his three birds ; on the fourth :Mr. Blunden missed a bird, and Mr. Roach obtained the third prize (20 guineas.) Mr. Anderson, Mr. Toomet. and Mr. White, each killed eight birds. Mr. H. Bull, Mr. Starks, and Mr. Missing, each seven. The rest of the gentlemen were still more merci fill, till the twentieth killed but one. I,ARK INO .-Sir Simon Clark, his brother, anti Mr. Nugent, were on Saturday last summoned before the Magistrates at our ' Town-hall, for having early that morning created a riot, anti done damage and spoil to certain windows and fences in the streets of West Cowes ; also for obstructing the police in the execution of their duty. They were bound over in bonds of 401. each to appear at. the Quarter Sessions. The Nlagistrates 3 the Rev. Walton White, anti Mr. Th os . (Colrok. Hughes Cooke) se g e h m e e s d li t u o g h he ar s e , taken the gentlemen by surprise, as they ex p orted they would be dealt summarily with, but all appea l was vain. They, we hear, sailed from Cowes on Wednesday evening, in Sir Simon's yacht the Kate, for the West Indies. Esti., and Henry Daly, Cooke, the Th T t. h y ew trialill therefore f t , a )r v f u e the Est w l e fi k / e . for shooting at John policeman, in St. James', street, is expected to come on on Saturday next, at Winchest.T. The Newport River Improvement job is abandoned for thi s Session. ,xed for is The ballot for the Cambridge petition March 16. SALMON Sts SHILLINGS A POUND.—Salinon have this season been very scarce and dear in Newcastle, but the price in the market on Saturility last exceeded anything, we believe, that ever occurred here before. The prier was actually six shillings per pound. There were only tno fi,h in, and they were brought from N e w burn. The Assizes happen ing at thi s ti me h a s probably in a g reat measure g iven rise to this extravagant price.— Tyne Pilot. In the Parks on Thursday several persons were dan g erin es is deserving oflosin g iheir lives from the ic e g ivin g The in whi c h th e officars of the Humane Society united eni of the highest praise. THEfSUN, LONDON, SATURDAY, FEERUARY 29, 1840. SOUTHAMPTON DOCKS. pane's reach, and of reimbursing him, at a very early I period, for his present outlay. The Directors with pleasu:c report, that the great ma jority of their Fellow-Shareholders testify their sense of this necessity, and their continued confidence in the un dertaking, by a ready fulfilment of their engagements. The rctual state of the Share-List is a point which has occupied the Directors' attention. With all the circum spection which the original Directors could employ—and it has been more than once objected to them that they were over-circumspect—some parties have in this, as in all ether Companies, failed to pay upon their shares. A few a e ascertained to have become unable to perform their en gagements, whilst others arc deceased, or insolvent, or not to be found. There are 170 shares so circumstanced, in respect of which the usual notice of forfeiture 11,13 been served on their respective owners, or representatives, in conformity with the provisions of the Company's Act ; and such declaration of forfeiture will be proposed for con firmation this clay. The deposit of 21. 103. per share, which has been paid on the whole 170 shares, will there upon become forfeit to the Company. A second class of shares--and with these alone the Di rectors feel any difficulty as to relieving the Company of them by forfeiture—consists of a certain number on which no instalment has ever been received. One Subscriber, to the number of 100 shares, is included in this class : he was permitted to sign the deed in the country, on a positive promise of immediate payment thereon in Lon don ; he failed to do so, and subsequently became insol vent. The whole number of such shares, inclusive of these which the parties who applied for them have omitted to take up, is 392. These arc evils from which no joint-stock undertaking of late years has been exempt ; and the Directors believe they are warranted in adding, that in very few has the evil been so small in amount. The remedy is obvious : it is only requisite that those of the Proprietors who are of a sound and right-minded d e scription—fortunately, the large majority—should continue promptly to meet their engage ments, and others of the same eligible class will come forward to take the place of every defaulter. Such has been conspicuously the case for several weeks past, during which repeated instances have occurred of shares passing out of unwilling or incapable hands into those of opulent individuals purchasing for permanent investment. There are, in fact, at the present moment more than enough of shares held by Proprietors of the most substan tial character, to furnish the me ef constructing the first Dock during the present year, and that by instalments strictly confined within the limits prescribed • by the Com pany's Act, 201. per share will accomplish it, and thereby put the Company into a position at • cc to realize an in come. The seventh half-yearly meeting of the Directors and Proprietors of the Southampton Dock Company took place yesterday at the Company's offices, Bishops gate-!trett. 'the SECRETARY having read the requisition con vening the meeting, The CHAIRMAN (Joseph Liggins, E,.q.) said it was often the practice on such occasions to commence by reading the minutes of the last meeting, but as there happened to be a great deal of business before them, it might be as well, perhaps, if that were now dispensed with. The resolutions of the last meeting were, however, ultimately read. The CHAIRMAN then said, Gentlemen, your Direc tors have the honour to present themselves before you to-day for the purpose of rendering an ac count of their stewardship since the last meet ing, and they come before you with mingled feelings of pleasure and of Pleasure at having it in our power to report to you, that since the com mencement of your interesting, your important, your noble works, they have proceeded, in the most satisfac tory manner; pleasure, too, at having it in our power to state, that among those who, by their scientific know ledge and practical skill, are fully com2etent to form a correct and sound lodgment on works of this descrip tion, the opinion is that your works have been well de vised—that they 1 ave been well conducted, in a skilful and proper manner, and that the portion of them completed, has been done well ; and they have the further gratification of stating, that those views which your Directors have heretofore entertained—that the predic tions they have put forth as to the eligibility of the site selected, and the prospect of a future remuneration to the shareholders—have been fully realized. And the advantages which must necessarily arise from the for mation of commercial docks at Southampton are such that the system is now being adopted by other parties who are industriously employed in endeavouring to es tablish another Company, whose business it will be to construct other docks within the short distance of three-quarters of a mile from our works. Thes , 4 parties appear to be delighted with your plans, and are so enamoured of what you have done, that they have copied your plans as far as they can, in order to adapt them to their position. I can conceive no more gratifying circumstance than that. It is deiightful to us to find, that our views have been so readily adopted by others, who are just as well able to judge of the merit. of our works as ourselves. But as we feel perfectly satisfied that the only means they have of obtaining business for their docks, is to receive There is yet another class of shares, which the Direc tors have placed also under declaration of forfeiture. They arc the 344 shares held by :qr. T. S. Richards, and those who act with him. The circumstances of this case have so recently come befoee the Proprietors by means of a communication signed by the Chairman of the Company, that it will suffice to say the Directors are prepared with ample evidence, satisfactorily to explain much of Mr. T. S. Richards's recent circular, and to disprove the remainder. These parties are presumed to be able to perform their engagements ; and the meeting will decide whether they have any claim to be released from them. Whilst the Directors have, after much forbearance, found it impera tive on them to resort to process of law to enforce pay ment from parties of this description, they arc nevertheless happy that it has been found in so few cases requisite to put in force the extremity of that power which imposes on them the duty of taking care that parties who have entered into liabilities which are mutual, shall not with impunity leave their liability to be borne by others. The actions already tried have both resulted, as the Proprietors are aware, in verdicts for the Company, sub ject to the opinion of the Court of Common Pleas upon certain technical objections, which it is expected will be disposed of early in the next terra. The Directors are advised by Counsel, that the sole effect of this delay will be to add to the heavy amount of costs which the defen dants have already brought upon themselves. The prospects of the Company are on all sides improv- ' ing. The completion of the Southampton Railway, so, essential to the prosperity of the Docks, and so inevitably conducive to their success, is now not only placed beyond a doubt, but within three months from the present day the line will be in ac ire and uninterrupted traffic throughout its entire length—its one terminus the Thames, its other the Dock premises. To this cheering fact may be added another, of consi derable interest to the Proprietors. Whilst one class of ohjec•ors pronounced that the Railway would never be completed, another predicted that docks at Southampton would never attract shipping enough to make them pay. It is true, that while time and vigorous management have disposed of the one prediction, experience alone can decide the other. But it is no small corroboration of the belief that Ducks at Southampton will pay, that a party has re cently been found confident enough in that impression ac tually to propose the erection of a rival establishment there. In the face, however, of the active and rapid progress which the Company's works have now been for some months steadily making, the scheme is (at all events fur the present Session) abandoned, sad though the very attempt is, as the Directors have said, strong confirmation of the soundness of their own views, the relinquishment of such threatened competition is a circumstance on which the Directors must naturally congratulate the Company. The Directors cannot close this report, without record ing their approbation of the conduct of the large body of labourers now employed on the Company's works ; and at the same time redeeming their promise to recommend to the Proprietors to grant a small SUM in aid of the impor tant duty of affording them spiritual care and instruction An earnest appeal has been made to the Directors, to this effect, not only on die ground of religious obligation, but of regard to the peace and welfare of the town of South ampton itself, into which so large a class of hardy nevi feature and °there, 'nee been introduced epec 7 ally for the ' Company's advantage. A religious body (The Psetorel Aid Society), has promised to grant a salary of 100/. to a clergyman to undertake the duty, comprising service on the afternoon and evening of each Sunday, and personal visits among the men ; Queen's College, Oxford, has granted the use and undertaken the external repairs of the ancient Chancl of " God's house," adjoining the Deck land, for this spacial purpose ; and the internal repairs and alterations are estimated at the sum of 160/. Towards this the Trustees of the French congregation at Southamp ton have promised :351. ; and subscriptions are raising in the town for the same object. " If," says the Rev. Dr. Wilson, Ma - ter of the Cnapcl, and Vicar of Holy Rood, Southampton, " the Dock Company will kindly consider the case, and render us help in this plan, we shall feel par ticularly obliged ; and I ne e d no t attempt to s h ow h ow important the purpose ie, or how desirable to r*ive them (the Dock labourers) a place th e y ma y attend' as their own, and so not have the plea that they have not clothes suitable to mix with another congregation." It is the inc:inat'on of the Directors cordially to re spond to this appeal ; and with that view they recommend it to the Proprietors to grant a sum, not exceeding Oa, in aid of so laudable an object —(Cheers.) The Directors have to announce that, owing to conside rations of a purely private nature, their valued cotleague, C a ptain Ward, hiss vacated his seat in the Direction ; their regret at which retirement would have been in creased, but for the accession to their number of George Burnand, Esq., a gentleman so eminently fitted to benefit the Company, that the Directors were happy to exercise the power given to them by the Act, by forthwith electing him to the vacant scat. It only remains to state, that, in conformity with the Company's Act of Perliament, four Directors now go out of office ; the gentlemen so retiring are Mr. Ede and Mr. Witt, of Southampton; and Mr. Rigmaiden and Mr. Burnand, of London : all of whom are eligible to be re-elected. JOSEPH LIGGINS, Chairman. 2eth February, 1840. that portion of the trade which we cannot accommo date, we can have no objection to their being prepared to receive the surplus trade of the port. Gentlemen, it is cheering to your Directors to find, that the opinion of the merits of your works is not confined to your Di rectors, and, I am happy to add, to a large proportion of the Proprietors ; but that the merits of the under taking are now exciting in other quarters, where here tofore they met with nothing but indifference, the great est attention. That the public at large are now being attracted to the merits of the undertaking, and that there is a growing demand for our shares, so that we may be perfectly sure the time is now at hand when the demand for them will be equal to the supply. But I have now to turn to the other side of the picture ; and I beg of you to believe me when I state that it has been a most painful state of things to the Directors, to find that in the performance of the duties which by your grace and favour have been delegated to them, they have been constrained to put in force the operation of the more stringent portions of the Act of Parliament. This is a duty which they would gladly have avoided, but hitherto they have been lett without any alternative ; they have found to their extreme re gret that where they had a legal and a moral right to expect active co-operation and cordial support, they have met with opposition as unwarrantable as it is unprece dented, and, I conscientiously believe, undeserved. But, Gentlemen, the questions arising out of these matters hare been taken to another Court, and issue is joined upon them in another place ; and it is my wish to touch as lightly as possible on matters of so uninviting a cha raeer. If it should be the opinion of any gentleman in this assembly, that he might be warranted in ad verting to these circumstances, I do hope that he will do so, not in any vindictive spirit, but in terms of cour tesy. I hope he will have some consideration for the position in which he himself has placed the Directors, and that we shall not have to listen, us on former occa sions, to personal attacks, occasioned too much by the proceedings of himself and his friends. As it will de volve upon me, perhaps, to address you again and again in the course of these proceedings, I will not further trespass on your attention than to call upon the Secre tary to read the Report, to which I doubt not you will give your full approbation. The Secretary then read the Report of the Directors as follows : The following statement of the Receipts and Disburse ments of the Company has been prep +red, a; directed by the Act, t..+ the 31st December last; and shows that the Receipts at that time amounted to 41,884/. 15s. Id., and the D;sbursements to 36.046/ 16s. 6d. ; leaving an avail ab,e balance of 5,t38/. 161. 7d. The CHAIRMAN said the question which be bad now the honour to submit to them was, that the Report be adopted, printed, and circulated, but it WAS the wish of himself and his colleagues that every gentleman in that assem'ily should hare an opportunity of asking such que,tions as he thought fit, and Ile would feel much pleasure in replying to them. Mr. HEATIIFIELD thought there was one point in the Report which ought to be amended—it stated that the embankment was to form the Western Dock, but he presumed that it would answer the purposes of both. Mr. GII.Es, the engineer, said it would form a road to the Tid,d Dock as well as to the Western Dock. Mr. M‘LaitEs wished to know whether the sum of 20/. a share seculd complete the works. The CHAIRMAN said it would. Mr. M‘LAREN—How much tvill that amount to? The CuarastaN said it was easy to calculate ; but the estimate was made upon the presumption that the calls would be pad up upon all the shares. Mr. M‘LauEs thought a c ontrary statement had been made. The CHAIRMAN said the Directors would sthke their credit upon the correctness of their e st:- ma•es. Unless some unforeseen circumstance should arise, of which they had at present no knowledge, he believed they would be able to complete the Dock for the estimated suar.—( Hear, hear.) Mr. RICHARDS—Has any positive contract been entered into ? The CHAIRMAN—There is a provisional contract. Mr. RICHARDS—That is, if the money be not forth coming, the contract is at an end. The CHAIRMAN apprehended that if they had not funds, they could not go on with the works. Mr. RR:Harms apprehended that if the proprietors were of opinion that it would be injudicious to proceed with the works, the contract must be at an end. Within the last forty eight hours he had been at Southampton, and although they had heard a great deal of this " in ttrinT(eisetrisr:3gnad nd noble" work in the Report, he could see little or nothing th a t LA beer done. He could not hutwhyhe a new dock was to be established nt Gosport, presumed it was to he done out of their surplus capital. The CHAIRMAN said the meeting would bear him out, that that construction could not be put upon his statement. What he said was, that the only portion of business the new Dock could expect to rcceive was that for which their Dock could not provide accommo dation.—(Hear, hear.) Mr. Riciratto s v:ould urge upon the Proprietors present to take into consideration, before they psssed the Report, the difference between a Report in writing and that which they could ace with their own eyes, if they went down to the town of Southampton. They would see a certain number of piles driven, but as to any thing approaching the shape of a Dock. he certainly could not see it. If there was a Dock about to be esta blished at Gosport, with a railroad to it joining the South- anipton railetay,why should not the people of Gosport be i sonscience that there was some mistake.' When the pro sharers in the great advantages which their Chairman j °sit:on was merle by him that the two actions should helld out to them ? He believed he was addressing men be determined by one issue, that appeared to him a of business, and he called upon them to do what they reasonable, proper, and just application, and it was eer would do in their own private affairs—viz., to go and 1 tainly the wish of the Directors that that request should juke with their own eyes. When they had returned from be complied with. Ile understood, however, that there Soneliampton, let them go and examine the share list, were some legal and technical forms with which he, as and ascertain how many of them were likely to be a commercial man, was wholly unacquainted, which paid up. The argument of the Directors was, that rendered it necessary to issue two writs. The Solicitor because so many shares had been paid upon up to the of the Company would, however, explain that. present time, that they would be paid upon in future. The SOLICITOR said he would state very shortly the The Direc :ors had given them the state of the balance reason why the two writs were issued. He had consi s'aeet up to the 31st of December, but he (Mr. R.) tiered it necessary to do so, although he had represented could givse it them lip to three data ago, and he could through his clerk, to the defendant's solicitor, that if he tell them, that although very considerable sums had been agreed to abide by the result of one action, the other received since that Report the balance in hand did should be withdrawn ; ho', as the Solicitor of the Com not exceed 4,0001. With respect to what he had pang, he felt that he was not authorised in issuing only said of the state of the works it appeared to one writ, as, from the absence of a single witness, or any him, although he admitted that he was net a other nice point of law, they might be defeated in the scientific: man, that nothing approaching the shape first action.—( Hear, hear.) of aDc ck had yet been marked out, and, he would Captain WARD said it appeared to him that the add, that the opinion of the people of Southampton was, amendment was absolutely impracticable. How were the that it Wi mid require An enormous sum to complete the Proprietors to ascertain the capahilityof the Shareholders works. He understood further, that had the original to pey up their arrears. They had a right to suppose plan besea adhered to, instead of 350,0001. being re- that every individual who had signed the list was per quired, persons who had a knowledge of the matter fectly capable of paying up his calls. If they allowed par stated t o him that if the immense quantity of mud land tics to retreat, from their merely 3 tying they were not which I.sad been taken was to be covered with build- able to pa y , their share list would soon be very considera ings and! docks, the sum would be really enormous, and bly reduced. far execs !ding any thing which they could raise. Piles Mr. HEATHFIELD trusted that the Hon Proprietor had orieinally been driven out in the mud at such a dis- would withdraw his amendment, as he was sure the tance th at it was dangerous for the shipping, and an suggestions it contained would receive the attention of accident bad occurred in consequence ; however, these the Directors. He wished it to be left to the Dime piles had been removed, and the Docks were now being tors to decide what parties should have their shares for made on a much s maller sca l e . H e h a d befo t e cau- teited, and let it then be seen what the amount of bona tioncd them to look well to the share list before they fide Proprietors was. He had a resolution to propose placed credit on the statement that the calls would be to the effect "that the Directors be requested to trans regularl v paid up. He held in his hand a letter from a mit a copy of the Report read that day to every Pro shareholisler in Liverpool, showing that a very strong prietor of the South Wtsurn Railway Company, feeling an the subject existed in that town. The writer drawing the attention of such Proprietors, at the same had had communications with other shareholders there, time, to the reciprocal bearing of the Railway and who wee eof the same opinion as himself. (Mr. Rich- Southampton Dock interest s , and the important conse ards was proceeding to read a paragraph in the letter, quencesof promoting the Dock undertaking." He believed when he was met by loud cries of" Order, order," and that it would give vigour and energy to their under " Chair., chair.") taking. He admitted with the Hun. Member that a AP. &OPRIETOR thought it. was quite out of order to very large sum would be required to cover the 280 give et atements of that sort in evidence at a public acres of ground which they had purchased at Southamp mectinee ton. So far as his experience and knowledge extended, Mr. HEATHFIELD said it was most absurd and un- no bargain equally profitable and valuable had been preced , nted.—(Cheers.) made its the 'kingdom as that under which the Proprie- The , CHAIRMAN trusted that his having abstained tors had obtained the 280 acres of dock-land at that from int erfering till the present time, would meet with port. At the same time he protested against its being their ap probation.—( Hear, hear.) He stood there as supposed—and he knew that he was speaking in the the orgt nof the Company, and it was with the greatest h e aring of an Hon. Corporator of Southampton—that relucta :cc he interfered. H e f e lt, h owe ver, that the the Town Council of Southampton had not done its duty. momen t was arrived when it wa s st r i c tly within the 'l'he consequence of the transfer of that land would be line of 'tiis duty to ask whether a Proprietor, standing in to bring an enormous revenue to the town, and benefit it the position of Mr. Richards, would be permitted to to an incalculably greater extent than if they had proceed in such a strain.--(Loud cheers.) Mr. Rich- exacted a large price for their land. As it would rr ards liad complained of the little work that quire a very large sum to cover all that dock-land, great had been done (although he would observe that v igour and en erg y were required on the part of the Pro they .had hundreds of men employed,) but he prietors, and he did hope the attention of the Directors did not pay his fair proportion of the expenses to would not be diverted from it by other matters. which he was legally liable.—(Loud cries of " Hear, Mr. FOSTER thought they could have no good classi hear.) He would observe further, that Mr. Richards fication of the defaulters unless the names were stated : they was mu: of the originators of the Company, his name could not otherwise judge who they ought to proceed being a mbodied in the Act of Incorporation, and not- against, and who they should release from their obligations withstnnding that fact, Mr. Richards had himself to pay. It was stated that some who had originally sub coolly gone into a Court of Law, and stated in his scribed to the undertaking had been let off, and it was due affiday . it that he had reason to believe (he being one of to theProprietorstoshow that those statements were un onnelypfiarvtey. whose name was the on ginators of the Company) that such Company was founded.He d own for a hundred sharess that o a bubble Company, and that the Act was obtained understood The Solicitor said that was not the case. by grot , s fraud and misrepresentation, and that there Mr. FOSTER hoped the sense of the meeting would be never c xisted any fair or reasonable intention of carry- taken upon his amendment. A circular which had ing the projected object to any useful purpose, or for been issued to the Shareholders mentioned that a very the benefit of the Subscribers.—(Loud cries of " Hear, influential Proprietor, who had been a dissentient, had hear.") Now Mr. Richards was a party to the appli- paid up his calls. He was informed that the cation 'to Parliament for the Act of Incorporation, and who'e of these shares were not paid upon, but it was to be presumed that lie was well acquainted with that a compromise had been effected. He thought all that had taken place, and it would he for them to t ought to be stated under what circumstances the determine whether they would receive these statements 1 from an individual who had gone into a Court of Law, swearing that to be true which he well knew to be false. —( Hit ar, hear.) rrangement had been made, and endeavour crget rid of the unpleasant feeling that existed the minds of some of the Proprietors.—( Hear.) The SOLICITOR stated that at an early stage of their un dertaking his house had awed to take 100 shares, but it Mr.. RICHARDS said if he bad made any statement of was subsequently felt that a'difficulty might arise in prose that so rt the Chairman would have been the first to outing the Bill before the House of Lords ; and Mr. Al stop him. It was stated there that lie believed there liston had been requested to take the shares in their names. was fraud—that he admitted to be a strong term, but After the Act of Parliament had been obtained, those 100 he did. not wish to be personal in the slightest degree. shares were divided among the different members of his It wars stated that he was privy to all the introductory (Mr. Smith's) family, and they held them at that moment. arram;ements, but that he must beg leave to deny ; he —(Loud Cheers. ) was merely asked in the street to become a subscriber. Mr. Rictieens said he did not find it so,—(Cries of The , CHAIRMAN said they had nothing to do with " Order") The CHAIRMAN said Mr. Smith, their solicitor, was well what took place between Mr. Richards and his friend entitled to be believed by the Proprietors.—(Cheers.) in the streets. They must take the facts as they stood, Mr. RICHARDS would not hesitate to apologise for having and to use a legal phrase, he must say that Mr. Richards made an improper assertion, but as that was disposed of, was otit of court. he would put another question on the tapir.—(Cries of Mr.. RICHARDS held in his hand a list of Subscribers " Order," and " Question.") It was perfectly prepos to this undertaking, in which the name of John Allison terous to call that a public meeting, if he was not allowed appeared for 100 shares, and he understood he was only to make his statement.—(Loud cries of " Order," anti a holder of five shares.—(Cries of " Question," and " Sit down.") 4' Order.") The CHAIRMAN said he had much pleasure in answering Mr. HEATHFIELD—It was not to be endured that a question that had been asked by Mr. Foster. A circular they seere to be called there from day to day to listen had been distributed under the sanction of his name, with to stat.emen6 which have nothing whatever to do with reference to an influential individual who had withdrawn the qi testion before them.—(Loud cheers.) from the combination against 'the Directors, having paid up his calls, and the while o f the costs. Now that Mr . FOSTER said when he paid the first call he was was strictly the case, so far as they were acquainted informed that the whole of the shares had been sub- with It.—(Cheers.) The compromise was simply thus— scrib,:.d for, whereas now it appeared that 392 remained t h at gent l eman was or i g i na ll y a P ropr i etor o f twenty- fi ve wisp preprinted. He rea!ly thought that they had not shame& and ho Fubi,cquently made opplieation for twantT been 1 . 1. , r1y dedt with in that ititfmant. time other share , , 7-hich '4-ere, appror heed to him by the The CHAIRMAN said all the share , ' had been sub- Provisional Committee. rlat arrangement was entered scribe'd for, but they had not been paid for. into before the Act of Parliament was procured, and Mr. FOSTER thought it was the duty of the Directors nothing, he believed, was paid upon them. He subse to set: that the first instalment was paid before they al- quently signed the Parliamentary deed for fifty shares, and at that time he, the Chairman, was not even a Proprietor lowed the names to remain on the li s t. Hi s o bj ec t was of the Company, the arrangement havingte case came been made not to continue a discussion, but to put those works i n a by fair and proper way f o r b e i ng c arr ied ou t, or t o abandon the Provisional Committee. When ta before the House of Lords' Committee, it turned them altogether. He thought the Directors should come out that the subscription deed was not signed to the to some clear understanding w ith th e Proprietors as to full extent required by the Standing Orders, and whether the undertaking was to be carried' on by five, some parties requested Mr. Harman Hill, the gentleman to or tie, or seven thousand subscribers. He was present whom reference had been made, to sign the deed. When on a former occasion in the April of last year, when a the Act of Parliament was obtained, application was made proposition was made that the works should be prose- to him for the deposit on those fifty shares, and then he cuted: with great vigour. There was not one word then stated that he was not a Proprietor of fifty but twenty-five stated wilt regard to any person not having paid his de- shares. The Directors knew nothing posit. At present it appeared that only about 4,000 c rep an cy arose, but a statement was ma subscribers had paid up their calls— which led them to believe that some de understanding had MT. Lu A 1113-4 841.—(Cheers.) been come to between Mr. Harman Hill and the , eentlemen composing the Provisional Commit- Mr. FOSTER thought that the defaulters should be tee. The Directors were certainly disposed to hold summarily dealt with, so as either to get rid of them him to his fifty shares ; but an intimation havin g beer, or compel them to pay. Two actions had been taken made to them privatey and confidentially, and which against him as the executor of his deceased brother, and he must not therefore allude to further, the Court of Di the Solicitor of the Company refused to allow the issue rectors acting in a kindly and friendly feeling, felt it right of one action to decide both. He begged to add that to relieve him from those 25 shares. Mr. Hill subsequently he had paid up his calls that morning, in order to enable finding that there was a verdict against thepartL t in if th he e him to move a resolution, the object of which would be Courtpt CominonPleiaast;ilsiatid,thro h through didfriend,ugi a not acknow t to defer the consideration of the Report to a future ledge,was relieved on the fromsccon his liability, ' , 5 . shayre's, which he was willing to pay up day. Mr. Foster concluded by moving as an amend , the calls on the remaining 25. with all the costs. That ment—" That. the meeting do adjourn to the 6th of aerreement was entered into for those reasons, and he hoped March, and that the Directors do then present to the the explanation would be satisfactory to the Proprietors.— Proprietors a list of the Shareholders, with the names ( Hear, and cheers.) attached who bad not paid up their fi rs t or secon d calls ; Mr. FOSTER said that this explanation was not satisfac ;and that applications should be made to all defaulters, tory at all. to ascertain whether they would abide by the decision The Oseiiiitee—Tfee - eleeel ~, however, is done, and it is of- the case then pending in the Court of Common for the meeting to , censure the Directors if they think Pleas." . . proper. ' : - t' ' • Mr. II EAT {MELO thought it would be exceedingly k 1 'ii r 41EATIIFIELD would say, as a member of the Novi : sional Direction, that he considered Mr. Hill's fifty shares imprudent to expose flag names of the Shareholders. Mr: FOSTER saidte thought it was desirable to know ' as hone fide shares; but the' e Directors having expressed a who was able to pay, and who was not. , doubt, hid ', very.properly given Mr. Hill the benefit of . . that' dut. Mr. HEATHFIELD said his objection did not apply to The CHAIRMAN hoped the Hon. Proprietor would have the classification, but to the names being given. He rug- some consideration for the position in which the Directors geated whether it would not be more prudent to receive were placed, and that he would be good enough to with the Report of the Directors as to the state of the share draw his amendment. The Directors would feel it their list, and recommend the adoption of more decisive mea- duty to give his suggestion the fullest consideration. One sures. reason why he should do so was, that an intimation had Mr. FO3TER was most anxious that the names should been given to him that there was a Proprietor present who was about to move a substantive resolution to carry out be given, in order to ascertain whether these proceed ings had been properly enforced, and whether those Pro- 1 those views. If this amendment was carried it paralyzed prietors who refused to pay could not be brought to the exertions of the Directors altog ether. They felt them terms. selves pledged to carry out the contracts into which they had entered, and with their assistance he was satisfied they would he enabled to do so, as well as to carry out to the fullest extent every object they had originally contemplated. Mr. FOSTER was always anxious to accede to the wish of the Directors, but he felt so strongly on this subject that he could not accede to it. He was anxious that all legal proceedings should be stayed until after the ad journed meeting. A PROPRIETOR thought it very important that this amendment should be carried, because many of those who had signed the Proprietary Deed had not yet paid any of their calls. The CHAIRMAN said if this amendment were persisted in it mast take its chance, but it was one which the Di rectors would give their most strenuous opposition to. Mr. L CARD said the same object would be attained by the resolution which was about to be submitted to the meeting, without bringing before their view the private circumstances of the different individuals who were at pre sent defaulters. Mr. FOSTER thought they could not with propriety go on forfeiting shares, until they knew who the parties were. Mr. LCARD would take upon himself to state, from a particular acquaintance with matters of that sort, that the names were never submitted to a meeting of the Propric tors.—( Hear, hear.) Mr. FOSTER would ask were there not some who had not paid up their first calls, who had not been proceeded against ? The CHAIRMAN would give a reason why they had not been proceeded against. They had received the written and verbal promises of a great number of persons that they would pay up their calls.--( Heer, bear.) Mr. FOSTER was ready to pay up his shares if the under. taking had been carried on with , the number of Share holders originally stated. Put if the Directors did not prosecute those men who were able to pay, they were not acting justly. The Hon Mr. MELVILLE said that his object in rising was to save the time of the meeting, and to induce the Hon. Gentleman to withdraw his amendment. He wu.s not in the room when the amendment was read, but he had been able to collect the sense of it. It was his intention at a future period to bring forward a resolution regarding the forfei ture of shares, and the payment of calls, which he thought would obviate the necessity of that amendment. He would endeavour to make his resolution as stringent as possible, in order to prevent shareholders who were anxious to retire, from leaving others in the lurch. He was as unwilling as any other man to pay, if he thought the undertaking was not likely to succeed. He had at the present moment a a-ger number of shares than he would be induced to hold under other circumstances ; but he certainly did not wish to give up shares unless he put another re sponsible person in his place.—(Hear, hear.) The lion. Gentleman could not wish for greater security than he (Mr. Melville) did. Mr. IIEATUFIELD said it would be quite competent to a meeting like the present to call for the names, but it was for the Directors to decide whether Choy would adopt the proposition of making those names public. He did not think it would answer any good purpose to do so. Mr. Lunar), a Director, was anxious to address a few words in answer to the observations of the Hon. Pro prietor. He would advert, in the first instance to the mistake he had committed in supposing that the Direc tors had taken upon themselves any undue authority in entering into a contract which they were not justified in doing. He believed his colleagues would bear him out when he stated that a resolution had been come to at the last special meeting of the Company, which reso lution was advocated by all the principal share holders, to the effect that the works should be stopped until five-sixths of the number of shares had been paid upon, the number at that time being (i,422. Some little delay occurred, but with great per sonal exertion the Directors had procured the payment of more than five-sixths of the shares ; and he believed he was correct in stating that the contract was not given out until 5,426 shares, exceeding five-sixths by 16 shares, had been paid upon.—(Hear, hear.) /t ap peared to him that the amendment of the Hon. Pro prietor went completely to vitiate the powers of the Directors ; and if he would look at the Report pre sented that day, he would find that the very classifica tion which he suggested was embodied in the Report. The Shareholders were divided into four classes ; the forfeiture of two classes was recommended. The third class were bow: fide Shareholders ; and with respect to the fourth class, it was considered doubtful whether the forfei ure of those shares should he recommended, as the Directors believed that the parties were fully com petent to fulfil their engagements. L.ecould not see any good that would result fiom th e Propr ie tors taking upon themselves that whi h was the duty of the Directors. He was anxious, before he sat down, to state that lifie d Mr. Richards had on a former occaion given an unqua statement that their undLrtak in g would bring a large amount of trade anti commerce to the port of South ampton, and that it would be a successful speculation. He might,however, have private reasons for now depart ing from that opinion.—( Hear, hear, and cheers.) The CHAIRMAN was anxious to make an observation with respect to a matter of complaint made by the Hon. Proprietor, and if that complaint was well founded, then he was ready fully and honestly to admit that just cause of complaint existed. But he believed in his EVENING EDITION.. . He was anxiout to secure as mood aProprietary to carry r the undertakirg. as poAsihie. • It was hopeless to ¢o at, alt with the undertaking . unleis it was done actively and quickly, as other parties would very probably soon be in the field.—( Hear, hear, and cries of Question.") The question was then put, Lut the only hands held up in favour of the amendment were those of the mover and se conder. The CHAIRMAN was about to put tie original question, when Mr. TILLEY, of the lllackfriars-road, wished to say a few words. rn the first instance he would congratulate the meeting on the Report of the Directors , which seemed to be as favourable a Report as could possibly he made, an if it were all true, be ought to consider himself fortunate in being a Proprietor. He thought, however, there was some thing inconsistent in the statement of a rival Company being about to start and the difficulty which arose from the di posal of their unappropriatcc shares. He had joined the concern from a wish to lay out his money to the best ad vantage ; but from the statements he had heard in other quarters he confessed he was anxious to avoid paying any further calls. In his opinion it was the interest of the Company to get rid of those gentlemen who were not dis posed to go hand in hand with them, because a house di vided against itself could not stand. He thought, therefore, there could be no objection to call upon those parties to pay up the first instalments,and then allow them to go out. Cries of " No, no.") When he joined the undertaking he was told that Mr. Alliston had taken 100 shares, that Admiral Fleming was a Proprietor, and several influential persons were named.—( Hear, hear, and " Question.") The CIIAIRMAN having been called upon was reluctantly ol4liged to interfere. If the Hon. Proprietor would only repose his negative confidence in the Directors a little longer, they would do all that he could wiih them. As the name of Admiral Fiemirg - had been mentioned, he must observe that he had never signed the deed. Mr. TILLEY—I never signed the deed. - The CLERK said he had.--( Hear, hear.) Mr. TILLEY had never cv:n seen the deed. The deed was then produced, and Mr. Tilley's name pointed out, which created great laughter. Mr. TILLEY could only say that it escaped his memory. The CHAIRMAN said application had been made to ACi roiral Fleming, and his reply was that he had never au thorised any person to take shares in his name. The question that the Report be received and adopted was then put, and agreed to unanimously• Mr. HEATIIFIRLD then moved the resolution which was read at a previous period of the meeting. Mr. Ricitanos hoped the appeal would be better re sponded to than their former one. Had the railway people joined them the concern would have been in a vigorotss and prosperous state. The CHAIRMAN said if their appeal had been only re sponded to in a small degree on a former occasion, that was the most potent reason why they should make a second appeal, and he would remind the Hon. Gentleman that it was 1:c and his party who had prevented the Rail way Proprietors from joining the undertaking.—( Hear.) The resolution was then put and carried unanimously. Mr. HEATIIFIELD wished to know the circumstances under which Mr. Burnand had been elected a Director. The CHAIRMAN said he had been recently elected upon the resignation of an Hon. Proprietor resident at South ampton. The name of that Gentleman could never be mentioned by the Directors but in terms of the highest re spect and of the warmest kindness. Ceptain Ward, of the Royal Navy, who was for some time Deputy Chairman of the Company, had, for reasons totally unconnected with the Company itself, found it necessary to retire. The elec tion of Mr. Burnand followed as a natural consequence. Captain WARD said his reasons for retiring from the Direction were entirely of a private nature; but the un dertaking should have his warmest support in every way he could give it.—(Cheers.) He felt much obliged for the manner in which his late colleagues had spoken of him, and which was far beyond his deserts. The resolution for the re-election of the Directors who went out by rotation was then put and carried unanimously, as was also a resolution for confirming the forfeiture of cer. tain shares. The Hon. Mr. MELVILLE moved a resolution to the effect that the meeting disapproving of the forfeiture of shares in any case where the parties were able to pay, called upon the Directors not to proceed with the for feiture except under such special circumstances as they deemed it advisable for the interests of the Company, and that when such a special case arose, a general meeting should be called to confirm such forfeiture ; and that they recommended the Directors to follow up the legal proceed ings which they had commenced for the recovery of the calls. His desire was to go no with the concern Provided it could be done so fairly and pro perly. If any delay took place they would lose the chance of gaining the valuable acquisition of the business of the Steam-packet Company ; and they would inflict an injury on themselves which they would never be able to repair. Looking at it in that view, he thought the Directors were wise in making calls for so large a proportion of their capital as 201. per share in the course of the present year : but it was their duty to see that those calls were well paid up, and that no chance of escape would be given to any party. If a loop-hole were left, it would enable gentlemen who thought the concern a bad one, to get out of it. His own belief was, that if the calls were properly responded to, the undertaking would be carried to a prosperous termination, but everything depended upon their executing it vigorously, and without loss of time. --(Cheers.) Mr. RICHARDS thought the resolution with regard to for. feiture of shares was one of the most unjust that had ever emanated from any public body. He, and the gentlemen who acted with him had merely received a formal letter, signed by Mr. Saintsbury, the Secretary, stating that the Directors had declared their shares to be forfeited, never theless, without prejudice to the right of the Directors to enforce payment of the calls. He then referred to the 85th section of the Act of Incorporation, and contended from it that in the event of the call being paid, the shares were forfeited, and that they had a right to retire. —(Cries of " No, no.") It would appear that the Di rectors hal rescinded their own act, for they now declared those shares were not forfeited, and that they intended to enforce the call. He considered that as one of the most uncalled for acts that could possibly emanate from them. The C II AMMAN said it was clear they could never come to the same conclusion as to the construction of that clause. Mr. RICHARDS said he had been led into that affair by his solicitor, his private friend, knowing nothing of its merits—(A laugh)—and now he was to be dragged on to the tune of 2,0001. The CHAIRMAN said they had acted strictly in conformity with the Act of Parliament, but they could riot submit a resolution for the confirmation of the meeting, until the Directors had first declared the shares to be forfeited, and an interval of three months must elapse before that could he done. It was quite clear that the Directors and Mr. Richards differed as to the construction of the Act. be cause upon that they had joined issue in the Court of Com mon Pleas. He believed the object of that party was pro crastination and delay. If that were not the case, he would be happy to hear Mr. Richards get up and say that he would agree to have that question determined at the earliest possible period.—( Cheers.) He now invited him in the most cordial and friendly spirit to answer that question. Mr. Riciienoe—When you have forfeited my shares I will then tell you.—(Great laughter.) Mr. Foseek thought an application should be made to all the defaulters to abide by the decision of the question then pending. If their consent could be obtained it would put an end to all litigation at once. He understood that Admiral Fleming had not signed the deed, or paid a de posit, and had been afterwards allowed to withdraw from the concern. The SoeyitTosee-Admiral Fleming .denietl that any authority had been given'by him to the agent. Mr. HEATtIFIELD would explain the matter in a few words. Captain Stevens, the late Secretary of the Com pany, had applied to Admiral Fleming to join the under taking, and both he and the other member, Mre Hoy, said they would be happy to do,so, but Some difficulty arose in the House about Members who had taken shares in those Companies, and they both then declared 'they would have nothing to do with it. The promise, however, remained with Captain Stevens, who put down Admi ra l Fleming's name.—(Hear, hear.) The CHAIRMAN said his objection to the suggestion of Mr. Fester was, that many Proprietors who were now ready to pay their calls, would hold back until the decision of the case iii the Court of Common Pleas. Their Se cretary had letters from a large number of them, stating that if the result of that day's proceedings would warrant them, they would pay up their instalments. He hoped , thetefore, it would not be pressed. He would call their attention to the gratifying fact that since the resolution moved by the Hon. Mr. Melville, a cheque had been placed in his hands for the payment of fifty shares, which were not due until the 7th of March next, and payment upon thirty-one other shares, making altogether eighty-one which had been received within the last few minutes.-- ( Loud cheers.) Mr. LUARD would add that the result of that day's pro ceeding, was looked to with much greater interest 8 1 'd anxiety than any meeting- they had yet held, and be would mention that during the greater part of their proceedings , the Superintendent of the East India Steam Navigation Company had been in the rem. Mr. GREGORY had come there to he guided by the result of that day's proceedings also, and from what had passe d he felt great pleasure in stating that he was now ready to pay up his calls.—( Renewed cheering.) Not only that, but he had a cheque in his pocket which had been intrusted to him by a friend, who left it to his discretion to pay it in or not, and he was very glad that it was in his power to do TO. Hear.) Mr. TILLEY said, what be had to complain of was, that only 17 out of all the defaulters had been selected for pl .() ; sccution. If the present step had been taken long a ge or proceeding without distinction against all those defaulter% it would have kept him from supposing that the Directo rs had been acting with partiality. The CHAIRMAN regretted that it should be suppossd tha t the Directors, who were men of some standing and chit, rector in the city of London, should be deemed capable 9°: acting from such motives. He could give the reason why thro 17 gentlemen had been selected. They had declare at themselves opposed to the Company. —They had made a al ° ! t , determined stand—they had held meetings of their vi and they had put forth advertisements calling t,h ° , o meetings of which Mr. Richards had declared himse i n he the Chairman. He thought the Directors had hc.t.ca, most unwarrantably and unprecedentedly treated by t" . ,„ party. It was a fact which the meeting could scar eog-y. deem to be possible in the city of London, that on one, :_. casion, when a meeting was convened by public advert !,ar ment in the house of Mr. Richards, just opposite, that ment in the house of Mr. Richarsis, just oppOsltdt lot meeting was presided over by Mr. Toulmin, who sca_a o ,„ e a proprietor of the Sou'hampton Dock Company for considerable period previously. His shares had Doenly some time previously sold to a party who was not ds willing but able to pay for them, f o r a ll the calls had be to. paid up on them. Those 17 g e ntle men had comblo e , C lOff gether to resist and oppose the authority of the Directors in every possible manner. F or th ese reas ons the Din' ta ke had proceeded against those gentl em en, and he evoula fact that opportunity of statin g t o thi s meeting a t hee-, which had been kept mos t ca r e fay from r vigg and he had no difficulty in doing so, now the subject of l ega l p rocee dings in ag Courta tt tice. The defendants received notice from the jos_ REPORT. The Directors have the pleasure of presenting to the Proprietors a Report, no longer confined to the announce ment of what they would wish to effect, or have hopes of effecting, but of what has already been done, and is ac tually now doing, in prosecution of the important under taking iu l'hich they ara cng,,ged, From the period of the List half-yearly General Meeting, the works have been steadily adTancing ; and although the unusually tempestuous and trying weather during the autumn and winter has necessarily retarded the Contractors' operations, the result of their labours is decidedly encou raging, whilst the present condition of the works affords satisfactory evidence of their solidity. The norks arr, in fact, already in such a state of ad vancement, as to have enabled Mr. Giles, the Company's Engineer, to make a substantive Report on the subject ; and the Directors present it to the Proprietors, assured that they will find it accceptable. Mr. GlLus's Report is as follows ; " Beaufort Buildings., 110th February, 1540. " TO THE DIRECTORS of the SOUTHAMPTON - - _ _ _ DOCKS. " Gentl:men—l beg to report to you that the clock works have been carried on by the Contractors through the last autumn, and up to this time, with great energy. " It having been deemed advisable to complete and open one portion of those docks et as early a period as possible for the reception of the largest class of stearo.ve,sels, and sailing vessels up to 600 or 700 tons burthen, my attention has been particularly directed to this object, and to make the Tidal dock in the first instance ; lam accordingly constructing the pi's foundations necessary for the quay walls on both sides of the entrance, and on the southern' (or seaward) side of this dock. This piling is in great forwardness. " I am also forming the embankments for inclosing the ground of the Close dock from the tideway, the western side of which is completed. Its southern and eastern em bankments are also is full progress, and likely to be finished in the course of the ensuing spring ; and the con struction of the remainder of the Tidal dock and of the Close dock will be carried on in due progress. " The number of men hitherto employed on the works has averaged 50 ; but there are now about 300 on the ground. The extent of work performed to this time consists of abo . .it 1,1400 feet length of pile-driving tor the foundations of the quay. walls, upon which upwards of twenty engines are at this moment in full operation ; and of excavations amounting to nearly 70,000 cubic yards. The soil produced bt the latter is advantageously applied to the formation of the embankment for the Close Dock ; it is very adhesive and impervious, qualities particularly favourable for sea embankments, and for making and maintaining the Docks ; and this the late storms have sufficiently tested, tio damage having been done thereby to the embankment, nor to the piing. " The o!,b,)rne Quarry, the property of the Compan', has also been opened by the Contractors, and pmparatiors are made for conveying its stone to the docks. The Con tractors have also made arrangements for obtaining other stone from Gurnet Bay, P ortland, and Swanage; and have deposited a large quantity of blue Lias lime stone, an I sf timber in store upon the Company's ground. " Means are likewise in preparation for conveying thither thither the ►oil purchased from Mr. Buchan at Walston " Considerable preparation of machinery for carrying on these works has likewise been made by the Con tractors. Independently of the pile engines, already a; work, a powerful dredging engine. lighters, waggoas, &c. are also making, and near completion. I have therefore reason to expect that the entrance and southern side of the Tidal dock will be ready for the reception of trade by the end of the present year. I remain, Gentlemen, " Yew very obedient faithful Servant, " FRANCIS GILLS." subject of the Engineeri nz D e . On the very important partment the Directors have further to report, that in ::edition to the practical experience of Mr. Giles they haye securai the able cc-operation and advice of Mr. Cubitt, as Consul:iv , Engineer ; and it will gratify the Proprietori to learn, that that gentleman's opinion and Mr. Gilea . ., as to the expediency a nd advanta g e of the p lan on whi ch the works are now proceeding, under all the circum stances, perfectly coincide. Tae Directors announced to the last half-yearly Meeting their hope of securing the important connection of the Royal Mail Steam Packet Company," the magnitude of whose intended establishment and operations they th !ri described. That Company has now obtained a Royal Charter-- it has concluded its contract with her Maj , :sty's Govern maent—and that contract the Directors are now enabled to state, leaves little doubt of the adoption of Southampton as the Company's Home Station. The Directors cannot too strongly represent the import ' an c o. of this connection —a connection for which other I Poets have not only offered largely, but have contended so \ perseveringly as fir a time to impede that Company's de \ eis'ion. The result, however, has been their firm rej c r", of every other Port, the superiority of South alnoton, with its Railway, and such unequalled th . m by your Directors, defyinn . 1 Dock accommodation as has been marked out for i world, S outhampton ‘ point of eligibility for steam packet intercourse between I the British Nletro I . P Packet t.ompany,t;eith,all competition. In po is and nearly every other part of the i disinterested parties, stands confessed, both he the " Mail whom they have The Directors, therefore, Government Departments with earnestly as superior to all oti cr ports in the i in negotiation, and by all practical kingdom. impress upon every individual Proprietor the necessity for a prompt and pone ' tual contribution of his , 'the means of quota of th e ca pi ta l req u ircd to I pus h o n and complete th e works, as Sole ,realizing the advantages thus b rought within the Com-