The Express.
London, England, 1855-05-31 00:00:00

GENERAL SCREW STEAK SHIPPING

COMPANY.
.......-..-

'The half-yearly general meeting of this company
Wss held yesterday at the Landon Tavern, Mr. Baur=
Cuaam is the chair.

The SZCIATAILY Vied the first rtisort of the new Board
of Directors, which, owiag to the short interval since their
election. Is little mon thaa a Mattawan of the patina* of
the oompany.

Thetis Which bad boss ancergistbe Mastrolies mall urns
have, the exception of re emplo es the some be.
torn rereweee sod Ado" rettreed to the So. I
phenol eke hod bent remilled. the odder modesd es to the rear of
ber ird biro barer mlideetury. The tape employed Is
auk.we are redo rpm the Utters Orr hem she reamed the
to
Itoplesd. The deutle what Mang • elara wkh
the liandres peemewnereare
ert.rup VestAied. Me wpm; Imetruen,balue
power to rime of her. lt ter leers um he dare& The meter
=it re Dash led Rhea dm seam et rertele reeseee-
e gtram The whir Let et the eseepeori le ter Noe*
emstraleg to 1/.811 err ofehr err le sew soder Waft to the
Let Pear govelimmenerldreererryemert Is Wive
Oat w hems ear -gpiemeteot empleymer es lurg m the
Pa* loolelete Muir sea err. The armours ham to weed the
urns term wart the eseremy_ hut mar ed by el the
llwram, Ms
Vela~
widths tram the lira*thebesster
our et the
mar arts s thole treselibes a heavy Merge Ms cc
the isseiralla tea. us retertely eddies the "emit, wok& ft
oliarded Iletbe= that the handbags Mk** duty (though
at • large emirs to „ rare the !Let to the la mouret, eiceptum
only &risk et cm seek venal, reserved to be saderwritten by
the tart ; sad this Ask they hays farther gemeeted, so far as
Mae le tor per to Orel Britain. by a tre pal* for 10,0001, on
essitale
UnitM k presesimg, which is at venom with the resoln-
reset, It" the
p &meters madently look for
She of Ms regristera, as although they fully recognise
ISllltielltimes el the -glad* apes win' It was determined
Ira the ahead sada Ahe the entire treason.' of
Id* der ,Irg on the barn and mantra
Id* the qua irk aloft, employment ender darter
ao limmpeet melee morn it impinging ter the
emir my. uuteripreemt ekruareasev, to osmium te be then ewe
Immemo Mr rep bur =rem. ifs iimeme sahateell show that
eltheuskthe mishap r Deersabee inwere sessiderslin the tomes
Oldie ffie sword mere" wig* swam es ems meseers is
Sam hum Moo se .
itse the ma a els reethe grebe
Immo bet s emell .ruse the reit et the eirrospi adle Me
rmeat. iilidek hr been preporel sea ions with the
imil the dreaddeeesehowea ma to the rah aural rel kee
to Persaver erromlog IMAM Ile. Id.- aW wires
di dardee, waisted epos be re amps" berm ehether to
seeperee in (rend" no mean wearer he bed debts sad
hem:k.lyradpeted nailed art pane a the sow
pospung, et Om the dloratineeme ther tads It rep be
deans err deo be mereted tvat to Wear
rep be IMMO@ IS swag the Mead menden bet net,
es dr reerses bare, by soy very largesmount The rapt el sow
Lei= eassuals le 177,3.501., and active incomes have been am-
te Worst the payment of die overdue. On thesis, Down-
brit Yet the ineseeses fund ammuntel to 13 1,0001.; the charges, how-
ever, which have been doe mead to its debit, have materially
mind it, and it ma: WM ba Illablateri at about 31,004 The
!sass propose Ihrthwith Wag to reduce the official staff la
Lemke and Soethemelea. Is the ;elutes' ports o of the
seamen prerite L
0111111111041NOSS. sg they bop" to effect sir
eidenlie en is Os rears empuom of the flect and the
likeeleee bestanl akW ennimmer, (Simony responsible tO the
IlseedAdeette eras timerd mention to re company's alas
essiderks Me War of a leek' body of the shareholder% ea
ram haft eired to his pi repertoire sl abilitv, they
beilisseminagellis lieseliss to tbiebsportant porn. Therm of 3,0001.
brag boa apeeraded by a rewind= of the promistory on h
forember MI. *the payment of director', the dreeten, ear •
Les
ireat drummer of the company, proper to retort I,IOW.
a arm auseot to the fonds of the company for this per ; and
Le Abram neemmia that the meetings may be in Mae lidd,
I and the eseceintspeseested in February or Mari* and I. August or
September, as provided by the deed of settlement.

The revenue moms for Its half year showed a balance of
3,6191. 3a Id., alter allowing a sum of 26,7361. Is. 64., car-
ried to the reserve fund for the half year.
The CHAIRMAN, fa moving that the reports and amounts
be adopted, expressed, on behalf of the directors, their
acknowledgments for the confidence reposed in them. The
interval sines their election had been too short to
enable them to produce any very important result. Their
advent to office bad, unfortunately, been marked by the
lose of the CIIIIIIIIII, but that vessel had been
folly insured. There were only one or two points to which
he wished to refer. The 66th clause of the deed of settlement

required the directors every year to caw a valuation to be
made of all the olio' belonging to the company ; the direc-
tors found it impossible to fulfil at present the requirements
of that section. The proprietors would observe that the
accounts were signed by only one of the honorary auditors.
Mr. Crawford, the other honorary auditor, had stated his
reasons for refusing to sign, in a letter which was in the
' hands of the proprietors. The stipendiary auditor, Mr.
Hamill, on the 24th of May, addressed a letter to the board,
in which, after referring to some discrepancies in the se.
count. as prepared by Disuse. Quitter and Ball, and as they
appeared in the books of the company, be says :•—•• In the
books prepared by Mews. Quitter and Ball, I observe that
a sum of 145,8411. 6.. 3d. appears to the debit
balance of profit and lose amuse ; but in the ac-
counts which I have received from the accountant
of the company a stain of 7,8611.45. 7d. appears to be the
credit balance of the profit and 1011 account. In the se-
vaunts handed me by the chairman I find items and figures
which are purely imaginary, and which have no existence
is the books of the company. Under these circumstances I
find it impossible to confirm these accounts with my signa-
ture." Under these circumstances the board consulted their
solicitor, Mr. Levi, who ;gave an opinion to the effect that
there was nothing in the deed of settlement to make the
audit either absolutely necessary or absolutely conclusive,
and that the meeting could accept the accounts and deal
with them as they thought fit. He begged to move that
the report and accounts be adopted.
Mr. WRIGHT seconded the motion.
Dr. Bikini opposed the motion. He bad himself gone
to the office of the company, and found that the accounts
furnished I. the shareaolders differed from thou given in
the office. The accounts signed by Quitter and Ball showed
a debit balance of 145,0001., but it had since been found'
that 2,00 W. for stores was omitted. The accounts presented
to the meeting were not verified by the signatures of the
chairman or any of the directors. The net profits of the
working for the year 1854 had amounted to 132,000/. ; and
under such circumstances, he did not think the accounts
put forward by the directors represented the full value of
their property. As the accounts had not been audited, they
could not be received by the meeting, but should be referred
beck to the board. They did not even bear the signature
of the third auditor, Mr. Hutton. Under these circurr-
stance', he thought that is justice to themselves they ought,
to refuse to receive them. He would move as an amend-
ment to the resolution, "That the accounts now presented,
not having been auditd in accordance with the provisions
of the deed of settlement, cannot be received."
Capt. HALIIITIOIIICOOded the amendment.
The CHAIRYLS said that the statement of accounts lying
on the table, and which the Secretary would have Ma to
the meeting, did bear the signature of Mr. Hutton, the
auditor. Messrs. Quilter and Ball had a been asked to
audit the account., but, in pursuance of the resolution of
the last meeting, they were called in to prepare the se.
counts. It was true that there was a difference of 2,0001.
between the accounts as they then stood and those prepared
by Messrs. Quitter and Ball, but the was one which
had been discovered in the audit, a proof that the audit
wee an efficient and practical one. When the accounts
were submitted to the two honorary auditors, Mr. Crawford
declined to enter into any investigation; but Mr. Hutton
had carefully gone through all the accounts. The directen
had adopted the only course open. Mr. Quitter was present
at the meeting, and would mower any questions that might
be put to him. No person could be more pleased than he
would be to find that they had taken too unfavourable •
view of the company's affairs.
After some further discussion, the Chairman put the
amendment, which was lost, and the original resolution
carried by • large ado/By.
Oa the motion of the Chairman, seconded by Mr. Hankey,
the outgoing directors, Meows. Lockwood, Margetsoe, sad
Ceps's' Shattleworth, were re-elected.
The CHAtiItAN then stated that the next business before
the meeting was the appointment of auditors, with which
the directors would rather not interfere.
After some discussion, on the motion of Mr. Hankey,
seconded by Dr. Vivian, Mr. Hutton and Mr. Round were
appointed honorary auditors.
Mr. Mooan proposed that Mr. George Brown be ap-
pointed etipeadiary auditor.
The motion was seconded by Mr. Stevens.
General AITCHUON thought that the present auditor,Mr.
Hegel', ought not to be superseded unless he was convicted
of doing wrong or become incompetent; he therefore begged
leave to move that Mr. Resell be re-appointed.
Oa a show of hands Mr. Brown was elected by a large
majority.
The CZAIIIMAN proposed a formal resolution repealing
the bye-law of February, 1852, in order that the general
meetings might be held in February and August, as pro-
vided in the deed .f settlement.
Mr. COLIMAN suggested that a aim of 143,000!. standing
to the debit of capital should be written off.
After some conversation it was arranged that the matter
amide submitted to the consideration of a special general
iftsaftsTlian were then voted to the chairman, and the meeting
separated.