The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1860-01-17 00:00:00

GREAT SHIP COMPANY (LIMITED).

The half-yearly meeting of thia company was held
on Wedneaday, at the Lmidon Tavern. Mr. Campbell in
the chair.

The Secretary read hi., notice convening the meeting,
and six notices of motions by ptoprietoni for committees
of inquiry and changes in the directiou. Mr. Taylor's
notice proposed that a col ttttt ittee consisting of the Rev.
Mr. Nicholson, Mr. Alderman Rose, and Mr. Abel, be
appointed to examine all books, documents, and officers;
to investigate the affairs of the company, and to report
thereon to an adjourned meeting. Mr. ilawe's notice
w. for the appointment of a committee of five to in-
vestigate Gni •ffsirs of the company, and to report
thereon to an adjourned meeting on the 25th inst.
During the reading of Mr. Webber's notice loud cries for
a larger room stopped further proceedings. The largest
room in the house having been prepared for the accost-
inuslation of the meeting, the proceedings were resumed
by the Secretary reading the report, which stated that
the whole course of events in connexion with the pro-
gress of the Great Eastern, from the time of her leaving
her moorings at Deptford until her arrival in South-
ampton Water, was on well-known, from the able re-
of the public press, that the directors considered
any recapitulation perfectly unnecessary. The accounts
showed the financial position of the company as it
actuaily stood, and the questions at issue with the con-
tractor being now under arbitration, the directors re-
frained from allusion to the matters in dispute with Mr.
J. S. Russell. Although the untoward accident and
delays had not din ti tt ished the reliance of the directors
on the ultimate success ani national importance of the
I Great Emden', they could not conceal from themselves
that diversity of 011111i011 and much dissatiafaction
existed among the shareholders, from causes over which
the directors had no control ; and they had, therefore,
unanimously come to the resolution that it was due to
the shareholders and themselves to place their resigna-
tion in the hauls of the proprietors (cheers). and they
only retained office untill their successors were ap-
pointed. The directors hail resolved that a special meet-
ing of the shareholders aliceild be convened for Wednes-
day, the 2Mb inst., for the purpose of electing directors
and auditors, and for other business. Owing to the un-
foreseen circumstances before role' red to, the directors
had been obliged to exercise the borrowing powers of
the company to the extent of £40,000 on mortgage of
the ahip, the loan of which sum lied been obtained from
friendly sources for six month* at the rate of 7 per
Cent, per annum (cries of "01,. oh,") subject to a re-
bate at the rate of per cent., should the company elect
to may off the loan before the expiration of that period.
(Hear.) 303,758 shares hail been allotted, so that if the
balance of tin. lihares, 26,242 (to complete capital to
rxio,too) could be placed, it would not be necessary to
raise any largo amount to clear off the existing mortgage ,
and enable the ship to be sent on her first mercantile
voyage—bearing in mind the fact, that there were stored
on board the vessel of every description, amply suffi-
cient fur an Auierican trip. It would be for the share-
holders to decide whether the present mortgage should
be continued, or, if otherwise, how the requisite alumna
ahould be raised to pay it off, and to provide what fur-
ther funds might be wanted. The financial statement
'bowed that £353,957 had been received, including
kW:VW from the shareholders, £10,1:13 for admission
of visitors to the ship, and £40,000 on loan ; and
.1047,4i1i expended, including £166,164 on purchase
account, £142,290 on completion account, £11,842 for
genersl stores, £35,31l for waged and ship's expenses,
and £11,067 general charges, leaving a balance of
1:6,474. The estimated liabilities and assets showed •
balance against the company of E.16,64i
The Chairman, in sowing the adoption of the report,
said the great object of the directors hail been to secure
the completion of tho ship, and to get lier ready for the
American treason. They had been disappointed in the
American trip, but at the same time they had full confi-
dence in the ultiniate success of the undertaking.
Mr. Talbot seconded the motion for the adoption o
the report.
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--- •
Mr. W. Hawes proposed the resolution of which lie
had given notice as an amendment to the motion of the
chairman. He proceeilal at some length, amid °onside.
rable uproar, to explain his views with regard to the un-
dertaking and the business of the committee. They would
have to consoler the past and lirovi4lefor the future. The
first business would be to determine as to chartering
the Great Eastern (A voice—Work her), and to consider
and report upon soy offer that might be made for the
'ship. (Mr. Magnus—" We have had no offer.") He
would conclude br moving an amendment to the effect
that • committees's( live shareholders be appointed, three
to be a quorum, to inquire into the past management
and future prospects of the company. He disclaimed
any coiiiieoioii with the directors, and stated that his
only i•hject was the appointment of all independent
committee, which should repre..ent both the old and new
shareholders, end, in fact, all interested in the prospe-
rity of the company. He had the deerst interest in the
'success or the ship because of his great respect for the
late Mr. Brunel, .1i11) had d,voted a vast deal of time
and labour to perfect her. He believed that no one hail
any doubt 5.4 CO the strength of the ship ausl the couiplete
, manner in which she had been constructed, and lie
believed she would be • commercial success. He then
moved his amendment for the appointment of the com-
mittee to investigate the affairs of the company, and to
report, 111 the first instance, as to the sale or charter of
the ship, and that the meeting be adjourned to the 25tli
inst., to receive the first report of the oununittee. He
would submit the names when the amendment was
passed.
Mr. J. Field seconded the amendment.
-

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Conii.lerable uproar enmed, in the course of which
other amendments were endeavoured to be proposed, but
the chairman declined to entertain any other amend-
ment until that was disposed of.
Mr. Taylor thought the best course would have been
to place practical men on the board in the room of those
who were not rsctica/, but not to resign in a body, as
announced in the report. He had heard that the mem-
bers of the committee intended to he pi...mond by Mr.
Hawes had already been sppointed or selected by the
directors. (Cries°, "Name the committee !") Consi-
derable uproar again mimed, and, when the noise
abated,

Mr. Hawes said the names he liatl selected to represent
every interest were—Mr. Alderman Ituse, Mr. Alderman
Hodgson, of Birmingham; Mr. Baker, a director of the
old company: Mr. Hope, chairman of the old company;
and Mr. W. Hawes.

Mr. Taylor believed that Mr. Alderman Hodpon
and Mr. Baker bed been in communication with the
directors, and bad been nominated by them for a coup
nate°.

LORD CINSING. —ln this and subsequent converse Hon
that evening on the subject of the mutinies, the causes i
of thew, the extent of the atrocities perpetrated by the
Sepoys, the stories of mutilations end outrage. the
Governor-General evinced a remarkable analytical
power, an ability of investigation, a habit of appreciat-
ing and weighing evidence, a spirit of justice and mode-
ration, raid a judicial turn of mind which made a deep
impression upon use. His opinions once formed seem
ialbraatables ; and his mode of investigation, abhor- :
rent front all intuitive impulses, and dreading, above
all things, quick decision, is to pursue the forms of .
the strictest analysis, to pick up every little thorn uu ,
the path, to weigh 1, to consider it, and then to cast it
aside or to pile it with its fellows ; to go from stone to
Hume, strike them and sound them, and at last, ou the
highest point of the road, to Rs a sort of granite
pedestal, declaring that the height is so-and-so and the
view so-and-so—so firm and strong that all the storm
and tempest of the world may heat against it and find
it imuiovable. Hitt man'e life is not etjual to the execu-
tion of many teaks like these; each coselisks, so wade and
founded, though durable, cannot be numerous. —Russell's
Diary in India.