The Express.
London, England, 1864-12-15 00:00:00

THE EXPRESS, THU SDA Y EVENING, DECEMBER 15, 1864.

and Mn. Stone, in the presence of Mr. Wayett. There was
an angry discussion. 1 repeatedly asked on what grounds '
the charge was made, but Captors Stone would tell me
notbiog about them. At last I said, "Have you any charge
of infidelity to make against Mrs. Stoner Captain Stone
and Mr. Wayett, speaking together, said, "No, we don't
go upon that." I replied. "Then what the deuce do you
go upon! They gave me no answer. I left the house no
wiser than I came, and indeed I never knew what the
grounds of the charge were till the last trial. On the
following Sunday Mr. Bragg and I went again.
While we were talking with Mrs. Stotts Captain
Stone and Mr. 1). Baker csnie in. There was another
angry discussion. 1 was very indignant, and I dare say
I did not express myself in very measured terms.
Nothing was said by me or by Mr. Bragg about Mrs. Stone
havis; been taken advantage of under chloroform. Nothing
had occurred to lead me to make such a remark. I had
never bad '4th an impression. I had charged Captain Stone
with having accused her of misconduct in India. Mrs. Stone
immediately got up and threw her arms round his neck
ex-
claiming,"Oh,Howard,younever said that r He said,
"No, my dear ; don't let them hurt me." After that I bad
a personal quarrel with Captain Stone. I called him a liar
in the public street of Exeter. I was summoned before the
magistrates, and an action for libel was afterwards brought
against me. It was settled by the intervention of friends ;
and I paid a sum of money.
Croas.examined-1 was fined 20s. for the assault • and I
was advised to make an apology for the libel, which wee
advertised in the newspapers. I prevented Captain Stone
from entering the Rectory. because I had an impression that
it would worry old Mr. Clack to see him. He said to me
" I went to see you particularly," and I said " You can't
come in here." I knew that there was a charge of mimeo- I
duct with Mr. Appleton ; but I could never make out what
were the grounds on which it was made. I first heard of the
charge from Mr. Win. Clack; but that was after Captain
Stone had told me that Ratty bad " gone to the bad." 1
knew Mr. Bishop asked him about a statement which he
hail made in public, namely, that Mrs. Stone bad made a
confession. I told him that I would not allow that to be
said. He maid, " Well, is it not so I' I have no recollection
what omurred after then. I think herald be had heard it from
Mrs. Wm. Clack,and I said it was false. I can't say whether
be asked me if the child was a fully developed one' He may
bare done so. I bad seen the child. I don't think I
said that the child was fully developed, for I was not a
judge of the matter. If I said it I did not say it upon any
knowledge of my own. I think I might forget such an
expression, even if I had made use of it. 1 have no recollec-
tion of saying anything about chloroform ; but as I have
said, I don't remember what passed.
Mr. Lopes—Lid you say to Mr. Bishop, " Mrs. Stone is a
mystery' One day the servant went op and found her
lying in the bed, with her arms stretched out, breathing
heavily. 11r. Appleton was walking up sod down the room,
and when the servant asked, ' What is the matter with
Mrs. Stone?' IA said, ' Mind your own business,' and
walked down stairs." . .

lioo4l-1 have no recollection of anything of the kind.
Mr. Lopes—Did not Mr. Bishop say, " I suppose it was
then that the interootatse took place r

W Ant u—l don't remember it

Mr. Lopes—hod did you sot r~, " I suppose nor
Witness—l have no reoollectioa whatever of such s con-
versvion. It was intended that I should retain Mr. Webb
to attend Mrs. Stone ; but I did not do so.
. .

—Croce.examineal—The fact was I delayed it till the child
aas born. I was aware when I saw Mr. Bishop of the
opinion which Mr. Webb had given. I really can t call to
mind anything that passed between us. My impression is
that there was • conversation on the question whether if
the child was • nine-months' child its mother could have
been abused whilst under chloroform. That question bad
been very widely discussed. 1 bad heard that Mrs. Stone
bad been Sound in • swoon on the bed alter her medicine,
and that she had been restored by brandy and soda water.
Mr. William Nicholas Bragg—l live in Devonshire, about
33 miles from Budleigh, and about three miles from Mor-
ton. I also married • MISS Clack. I recollect seeing Mr.
Stephenson one Saturday, and we agreed to go down to
Budleigh the next day. At the interview that took place
there was • great deal of angry talking. I asked Captain
Stone wtat grounds he went upon, and we oould get
so answer. I asked him if he bad written to demand an
explanation. and be said he bad, but he had not had an
answer. I told him that he had acted in a mean and pitiful
manner in bringing such • charge against his wife without
acquainting her family with his reasons for doing so. It
was alter she had thrown herself into his arms that I said,
" Look at her was and sickly looks ;" but I added, "aren't
you ashamed of yourself "—not, "Caret you forgive her!"
for I was convinced of her innocence. I said nothing about
chloroform. When she said, "Oh. Howard, you did not
slay that!" he said, "No, my dear, not exactly that. I
said you were fond of gaiety. Don't let them hurt ma."
Cross-examined-I'm au attorney. Soon after this Mr.
Reiby called in • sum of money which Captain Sloe* owed
him. Mr. Hanby said he should not have money of his
after behaving in that manner.
Mr. Wm. Pester, of Okehampton, formerly house-sur-
geon at the London Hospital, stated that in the summer
of IN;2, Mrs. Stone came to live in the neighbourhood
of ikeharopton, and became his patient. He treated her
much in the same manner as Mr. Appleton was described
to have done. Women who had had premature children
were always very liable to have their other children torn
before their time. It was not an easy matter to say with
any certainty whether a child was fully grown or prema-
ture if it had passed the seventh month. Seven months'
children were sometimes quite as apparently mature as
those of the full period. Before seven months • child was
hardly viable.
Croes.examined—Had married a cousin of Mrs. Stone's.
Received an annuity of 1301. from an aunt of hers, hot she
was now dead. In nine oases out of twelve • reasonable
guess might be made as to the uterine age of a child ; but
the matter was always open to doubt, even when the most
careful examination had been made. To bear a mature
child after immature ones would to a certain extent diminish
• woman's liability to premature oonfiuemente subsequently.
Re-examined—But • woman under such circumstances
would still be very liable to them, especially when she suf-
fered from illness and anxiety.

Dr. Tyler Smith gave similar evidence. Mature children
weighed sometimes ea little as four pounds ; whereas im•
mature ones weresometimas twice as heavy.

Dr. Samuel Richards corroborated their view, and added
that white precipitate was a deadly poison, the ordinary use
of which was to destroy vermin.
A juror asked whether it would be neoesear7 to hear any
more evidence, as the jury had made up their minds.
Sir J. P. Wilde thought it most material that they should
patieotly hear out toe case. As they had no doubt gathered,
there had already been a trial, and the parties would not be
satiated if the present proceed*s came to any premature
close.

beiog the sod of the respondent's ease the followiog
wilco's., were ailed for the petitioner, in contradiction of
some of the above °enlaces.

Mr. Edwin Bishop—l was formerly a surgeon at Morton
Hampstead. I recollect beware a convention with
Ann Barden. She asked me what I thought of the report
about Mrs. Stone. I told her that I could not give an
opinion about it. She then told me that she believed it,
because when she was nursing Mrs. Stone on a former on.
casion her conduct was very disgraceful. I believe those
were her words. She added that Miss Clack had rebuked
Mrs. Stone for her undue familiarity.
Crossaxamined-1 am no relation to Mr. Bishop, the at-
torney in the case. I was engaged to Miss Bragg, but the
watch was broken off, and I am now married to another
person. I commenced an action against Nils Bragg for
breach of promise, which I abandoned. I don't choose to
say whether I have passed through the Bankruptcy Court,
because I think the question irrelevant to this matter. I
never heard of Melanie Green. I never beard of
a girl cowing home from Budleigh. The conver-
sation I bad bad with Ann Maiden had no

reference to Green. I heard her evidence, but it wu
quite untrue. I wrote to Captain Stone long before my
engagement with Miss Bragg. I wrote to km as a friend.
After that I hada standing invitation to dine or lunch with

---
him whenever 1 went to Exeter. That wu in January,
1862. My meeting with Mime Bragg was in the following
July or August.
Mr. Dean Baker (recalled)—On the 27th of February,
1862, 1 saw Susan Multi; at Sidrnouth. 1 asked if she

recollected Mrs. Stone being in • faint, sod she said she
did. Nothing was said about mosey. I most solemnly
say that I said nothing oo that subject to her.
Oast-examined-1 would not have done it for the world.
I only cave money to Harris because she bad lost her situa-
tions. The trial was coming on, and she was told to mention
it wheoever she applied for • place. I merely spoke to
Marks in order to save Captain Stone's pocket. It was a
long time torture I could get her to say a word against her
mistress.
Mr. Northeote (recalled)-1 recollect Ann Frost telling
me three or four bourn after the birth of the child that she
considered it to be • full grown one. Two days afterwards
she told me and Mrs. Northcote that she considered it a
aloe months' child, and that if she had known It she would
not have remained.
Croy-examioed—l havestated that now for the first time.
I was asked the question. Her words were that it
was a mature child, or words to that effect.
Mrs. Northcote having given corroboratory evidence,
Tile court adjourned.

the death of her husband she bad taken up her abode at
ehedwell-heath, in this county, and obtained her livelihood
by going out to work as • charwoman, and she
was always regarded as • sober industrious woman.
She became acquainted with the prisoner at this
place He was a labourer k but there seemed to he
no doubt that he was an idle worthless fellow, but act-
withatendiog this the deceased seemed to have consented
to go to live with bim as his wife, and they cohabited tore
tber for some time. The conduct of the prisoner towards
ter, however, appeared to have been so bad that she deter-
mined to break off the coonexion that existed between
them, and left him shout three mooths before she came to
her untimely end, and went to bee at the cottage of an
aged man named W. at Chadwell-heath, as • sort of
housekeeper. The old man had a son, James Warren, sod
so intimacy seemed to have sprung up between the deceased
and this young man, and they were engaged to be married,
and the banns had been pubdahed sod the marriage wan to
have taken plain on the Saturday week following the day
on which the murder was committed, which was the 24th
of September. Mil prisoner seemed to have been very
angry at the deceased leaving him, and upon several occa-
sions he appeared to have entreated her to renew the
connexion between thou, but she always refused to de so,
and the prisoner upon several occasions was heard to utter
dreadful threats against her, and he was repeatedly beard
to say that if she did not live with him again he would
have her life. _ _ _

A great many witoessee were examined for the prosecu-
tion. One of them, a person named Rogers, deposed to the
following extraordinary facts, tie said that he was in the
habit of attending Romford market, sod be did so one Wed-
nesday in the month of August last, which was about three
weeks before the murder was committed. On his way
home he stopped with his horse and cart at the Whits
Horse publie-house, on Chadwell-bath, and he saw the
prisoner there, and asked him to mind his hone and cart
while he went into the house to have some refreshment,
and he sent the prisoner some bread and &sees and porter.
When he went out he noticed that the primmer named to
be very dejected and low-spirited, and he observed to him
that he appeared to have something on his allied, sad he
replied that he had. He pressed him to disclose to him
what it was that troubled him. ►nd the prisoner the. said,
"Well, I have bees looking for a woman for a month to
have her blood. I sow her mica but I was too drunk to
attack her, and I thought that if I did she would be able to
give an alarm." The einem, who is of theJewiah persuasion,
urged the prisoner not to entertain such feelings, observing
that he never heard of their people (the Jews) doing such
things. The prisoner then said, " I have sworn to do it,
and do it I will." The witness then said that where he
would think better of it, to which the prisoner replied,
" Look here. sir, I have had • month to consider of it,
and surely, if in that time 1 don't reflect on it I shall sot
now ;" and he then pulled out • knife and wished him to
look at it, but he refused to do so, and as he was going
sway the prisoner said, " Good-bye, sir. God bless you ; if
you are in any part of England and peruse the papers
within a month, you will see that I have bad her blood."
Ihe witness tdded that he thought no more of what had
taken place until he read an account of the murder in the
newspapers, amid he immediately went down to Ilford and
informed the police of what bad taken place between him
and the prisoner, and recognised him as the man with whom
he bed bed the conversation, _ . .

The learned judge having summed up, the jary retired at
half.put four o'clock to deliberate upon their verdict.
They returned into court in less than a quarter of an hour,
and gave a verdict of Uutity.
The learned judge. having put on the black cap, proceeded
to pass seoteoce of death upon the prisooer. He said that
be entirely concurred in the verdict of the jury, and it ap-
peared to him to be impossible upon the evidence that had
been adduced for them to have arrived at any other condo-
sion than that Le was guilty of the crime of which he had
been accused. He then proceeded to pees sadism of
death in the usual form. . .

The prisoner did not exhibit the 'lightest emotion during
any period of the trial, and whose the learned judge had con-
cluded he turned round and walked deliberately away from
the bar. The trial I..eted nearly seven boon.
Henry Augustus Munn. who was convicted of wounding
• young women named Charlotte Turner, i• a transport of
jealousy, with intent to do her anemia bodily harm, was
brought up for judgment late o• Tuesday evening, and sen-
tenced to ten years penal servitude.

OXFORD ClRCUlT.—Woßcrsrza, Dsc. 14.
(Before Mr. Justice Byles.)

Eclu-ard Wi74c4, collier, was charged with maliciously,
and by the explosion of gunpowder, damaging a certain
house at Dudley, iu the occupatiou of John Haywood, he,
the said John Haywood, and nine other persons being
within it at the time. Mr. Motteram prosecuted. The
prisoner was undefended by counsel. This on,, woes out
of the late strike of colliers at Dudley and in South Staf-
fordshire.

The jury found the prisoner Guilty with the intent
alleged, and there bring another cue of a similar character
sentence was deferred.

CENTRAL CRIMINAL COURT.

(Before the Recorder.)

Henry Hayes, 29, was indicted for a robbery with
violence upon the person of Samuel Kemp, mariner.
Mr. Coster prosecuted ; the prisoner was undefended.
It appeared that the prosecutor in this cam had been
drinking in a public-house at the cult end of London on
the night in question, and when about to leave be had
been attacked by the prisoner and two other men, who
set upon him and kicked him about in a most cruel manner,
and in the struggle which ensued he was robbed of a mall
sum of money.
The jury found the prisoner Guilty, sod he was sentenced
to twelve months' imprisonment with hard labour.
Henry Granteuvd, 22, soldier, was indicted with fab-
ulously wounding Margaret Sullivaa, with latest to murder
her.

Mr. Daly prosecuted, and Mr. Williams defended.
When asked whether he was guilty or not guilty, the
prisoner replied that be was guilty of the assault, but he
had no intention to murder.
Mr. Daly said that under the circumstanoss the prisoner's
plea would suffice, and be would therefore ask his lordship
to deal with him for unlawfully wounding. The leered
counsel then briefly related the facteof the case, from which
it appeared that the prisoner bad gone into a house of in-
terne with the prosec•tnx. It seemed that they had slept
together, and upon his waking up be missed all Ink mosey,
and he immediately fell upon the prosecutrix, end beat her in
• most fearful manner with his belt. Sbe was in the hospital
for more than • month, and had hardly recovered her in-
juries at that time.
The sergeant-major belonging to the prisoiser's regiment
gave him a most excellent character. He bad been in the
regiment for two year', and during that time had conducted
himself in a most exemplary manner.
The Recorder sentenced him to be kept in prison for six
months, with hard labour.
Gee, 22, labourer, andJamer Smith, 22, labourer,
were indicted upon the coroner's inquisition with having
sensed the death of John Smith.

Mr. D►ly prosecuted, and Mr. tilley defended.
It appeared from the ',Memo that on the 22nd Nov. the
two Knauer* and the deceased had a quarrel, sod Gee and
the deceased had fought together for some time. After
about half-a-dozen rounds the deceased wanted to give in,
but Smith incited him to go on, and alter a few more rounds
he fell down and eery shortly afterwards expired.
Smith was sentenced to three mouths, while Gee was sea.
twoced to 14 days' imprisonment
Sunned Maws, 32, tallor, wail indicted for foloaionaly
killing and slaying Mary Deakin.
. . . . .

Mr7Dsly proeecutedl and the prisoner was defended by
Mr. F. H. Lewis.

This case has been but very recently before the public
in its fullest details, and therefore it will be unoecessuy
to lay the matter in detail before our readers. Aooordioss
to Mr. Daly's statement it would appear that the deeessed
was • young woman, aged 19' who up to the time of the
melancholy occurrence which ended in her death lived
with her mother. She was, however, employed during the
day by the prisoner, from whom she was learning the busi-
ness of • waistcoat-maker, and who carried oe his busi•
nest No. 2. Beech•lane, Barbican. It would appear
that on the 27th October a boy who lived at the back
of the prisoner's house beard screams of fin, and
murder, and on looking out of the window he
saw the deceased, whose clothes were on fire. She had a
tub in her hand. The prisoner was standing by her at the
time, and she wanted to get back into the house, when the
prisoner tried to seize her, calling her a fool, but she broke
from him sod rushed through the passage iota the street,
where some parties threw • rack roiled her aed succeeded
in extinguishing the flames. While lying on the ground
she pointed to the prisoner, who was standing at his door,
and said, " He did it, he trial to take liberties with me, and
Pushed me on the fire." She was afterwards taken to the
hospital and died in a few days. Just before her death she
made • statement adhering to what eh, had originally said
in connexion with the prisoner. The learned counsel
told the jury that if she mede that statement believing
she was &nig, it would have as much effect as though she
herself had stood in the box and given evidence.
Several witnesses were called to establish the above facts,
after which Mr. Lewis addressed the jury on behalf of the
prisoner. He contended that • mistake had occurred
in this matter, which bad placed the prisoner in his present
unfortunate position. There could be no doubt that while
going about her domestic work her crinoline bad caught the
bars and she had so caught fire. The prisoner had sprung off
the sofa to extinguish the tire before she knew herself that
she was in dames, and had necessarily thrown his arms
round her when he tried to extinguish the tire with s rug,
and she had thought that be wanted to take liberties with
her, and had resisted, and in so resisting she had
supposed that her dress took lire, Even on her dying bed
she told the policeman that the primer had thrown a tab
of water over her.

The Recorder trammed up, and after a short delibmation
the jury deyeitted the prisoner.
(Before the Common Serjesat.)
Edwin Grey Astrood, 26. draper. pleaded guilty to
stealing 13 pain of gloves, and various other articles. value
2/. 10s.. and bank notes to the value of 1201., from Thomas
Whittaker. his master.
_ _ _

Mr. Sleigh. who appeared ea the part of the primmer,
said this was a most painful ems, the primmer beteg
a yotmg man of most respectable cosesetioes, who
had been for some time io the employ of the prosecutor,
who was a large draper at Blackheath. About a mouth
ago the prosecutor entrusted to a young lady in has employ
a parcel containing the beak sot., maid is the irsdkrimat.

This parcel wee dropped somewhere in the establishmeet by
the young lady, and was found to be in the of the
primmer aliont a month after. It ap that suspicion I
fell upon every young man in the establishment,
and the whole of their boxes were searched, and 13 pairs
of kid gloves were found in the prisoner's pomession, sad
whoa taxed with the theft he admitted his guilt, and then
told his employer that he had picked up a parcel of notes
some abort time before, and these he gave up, with the ex-
ception of a very small sum, which he had lent to different
mimes on good securities, and these securities he gave up.
What made the case the more painful was the fact that he
was about to be married and to est up in business for
himself. to which end his father, who was chief inspector
at Doncaster, had mot him up 751.
Several witnesses were called, who gave the prisoner a
most excellent character.

Judgment postponed next session.
Robert Brown was indicted for stealing a gelding, one set
of harness, and one cart, value together 151.
Mr. C. P. Wood prosecuted.
After the case had been fully gone into, the jury Aron ilea
the prisoner.
Edward Bollyhoime, 26, bootmaker, was indicted for
feloniously killing and slaying Susannah Hollyholme.
Mr. Phillips prosecuted ; the prisoner was undefended.
It appeared th►t the prisoner was the son of the deceased,
and on the day in question be was fighting with his brother-
in-law, when his mother interfered. The prisoner imme-
diately gave her a heavy blow with his fist, which knocked
her down and broke her leg. She was taken to the hospital,
where she lingered for nearly a mouth.
to passing sentence the Common Serjeaet commented in
very strong terms upon the brutality of one killing his own
mother, to whom he owed has very existence. He was men.
tented to five years' penal servitude.
This being the last cue of the sessions, the court was ad-
journed until Monday, Jan. 9.

LIBRARY COMPANY.

The fourth ordinary general meeting was held
yesterday, at the officee of the company in Pall-mall ; Mr.
W. P.. ltsgrox in the chair.
The directors' report, which was rod by Mr. H ZWIT
FowLza, the sec story, contains the following passages :
" It will be seen by the balance-Mime that there is a sum
of 9,1311. Bs. remaining, after the payment of all sawmills".
This amount would have allowed of the payment of a divi-
dend of 10 per cent. as heretofore ;•but in order to place
the company on a sound financial basis, the directors pro-
pose to appropriate the amount as follows :—To write off
the sum of 7,fakf. for depreciation in the value of books
purchased ; to pay dividends of 76 per cent., and of 6 per
cent. on the preferential share' of the company ; to sot
apart ASO. for the reduction of the preliminary expenses ;
and to carry forward the balance to the next year's account.
Owing to the large number of books required for the supply
of their numerous branch depots, the directors have out yet
had any difficulty in dealing with their surplus stock. They
are pleased, however, to be able to &anomie° that they have
made satisfactory arrangements for the disposal of several
thousand volumes whenever they have them on hand. Ibe
establishment of the town and surburbau and provincial
branch depots, which the directors believe to be a most ad-
vantageous extension of the company's business, entails
considerable expense. To meet this, and to defray the
chargeable to capita, as well also as to enter upon
other profitable departments of library operations, renders a
further issue of shares necessary. The directors therefore
propose a further issue of the Ti per cent. preferential
shares ; and tire proprietary will be asked to sanction such
issue to the extent of 10,000 shuts, preference being given
to the applications for such shares from the present
shareholders."

The ektll/111•N congratulated the shareholders on the in t.
proved position of the company, the balance sheet now pre-
sented being the soundest and best which had been up to
the present time laid before them. It had been complained
that the meetings were not now held half.yearly, as for-
merly ; but it should be borne in mind that the articles of
association, and the Joint Stock Companies Act of 11562,
only contemplated annual meetings; and, besides that, the
holding of half-yearly meetings materially interfered with
the duties of the staff and the general business of the oMce.
It was intended, however, from this time forward, to pay
an midi:dente divideud in July, which would to that exteut
obviate the inconvenience to the shareholders. He was
happy to say that they were now overcoming the
dithculties which they bird experienced at the com-
mencement, and were largely exceeding their opera-
tions. They had now 63 chief and 2Ui branch
depots at work-271 in all. The subscriptions for the past,
year amounted to 15,142/. nett, after allowing for com-
mission, to which they ought to add the value of the books
supplied to shareholders—certainly hot less than 1,100/.
making • nett receipt of 16,242/. During the past year
they had given up what were called the trade subscriptions,
which had been found disadvantageous. The expenditure
for the purchase of new books contrasted very favourably
in the past with the previous year, the charge under that
Lead Saving been from November 1, 1862, to October 31,
1663, 30,32:V., and front November 1, 1863, to October 31,
1864, showing a saving of 15,462/. The trade
subscriptions last year had been 4,8671., or 5,000/., to
obtain which they had had to spend 130001. in hew
books. the mode now adopted was, after using the
books, new and old, at the principal depots, to send
them into the country to the branch depots,
by which they economiaal the books sod avoided the
. accumulation of • superfluous stock. !deferring to letter.
which had been published in the Dully Kula and other
journals, Le refuted the allegations that the auditors were
to any way connected with the directors, or that the direc-
tors Led purchased copyrights from friends or relations,
and denied that dividends hod been paid out of capital.
The directors had overcome the difficulties which beset them
at first, and now knew their business. They kept no run-
ning accounts with publishers, but settled up on the 10th of
every month, the coosequence of which was that no pub.
usher could come to them and insist upon their taking *Xi
or ;Au copies of • new work which they del not want.
(Hear, hear.) They had 17,0001 subscribers, at the
head of whom was the Plaice of Wales, and so
thoroughly and profitably was their business seta.
blither' that if they desired to sell it, it would be
worth, judging from the price asked them the other day for
a library which it was offered to them to take over, 80,00 W..
or equal to about 408. in the pound upon the capital paid.
They had beau told that they would lose by the City depot,
but he was happy to say that was about the moat satisfac-
tory and best paying of them all. The large increase of
business had rendered it advisable to call up further capital,
and hence the proposal to issue 10,00 preference shares,
which the meet*, would be called upon to sanction. The
charge entailed by the existing i 4 per cent. preference
shares was 3571. only, a very hiding matter in • company
like theirs. In conclusion he moved that the report and
balance sheet be received and adopted.
Mr. ii ARE seconded the motion.

Mr. Cutos feared that the company was going sadly
wrong, mad when he wished soon after the last meeting to
sell Ma shares, a director, who told him he thought be could
get a customer for them, offered 501. for his 601 . paid-up
capital ; that did not looi very prosperous. He contended
that the directors valued the stock much too high, owing to
their not allowing sufficient for depreciation by 5,0 W/. to
6,0001. The expenditure for new books was very large as
compared with the amount received from subscriptions. The
working expenses he considered to be likewise much in
excess, amounting as they did to half the estimated profits.
He denied that the present balsams-sheet, any more than
the last, was a fair representation of the affairs of the com
paoy, is consequence of the mistake of the directois in not
allowing sufficient for depreciation, and if they went on in
the Caine way three or four years longer, they would
men:ally conic to grief. He moved as an amendment.
that that clause of the report which referred to the
declination of a ditideoil le not adopted.
Mr. ELLID seconded the amendment, and drew attention to
what appeared to be an error in the balanoe-sheet in put-
ting down the aunt of as an asset, whereas it was
nothing more than so much mosey paid, and not money
available for dividend or the purposes of the company.
He could not congratulate the directors on the state of
lawn, and said that while the business had tallies off
21 per cent. in the past year as compared with the pre-
vious one, the expenses had increased 12 per cent. The
total receipts of the company was 16,0004, and the ex-
penses 1,9431., and 14001. had been paid for books
during the year, the deficiency being made up by money
received from shares, and taking the depreciation of books
et 7,000 f., it followed that they had lost 7,000/. by the
operations of the year. (Oh, oh.) tinder such circum-
stances it was unreasonable to ask the shareholders to put
their hands in their pockets to advance 10,0001. in prefer-
mice shares to prop up the concern.
Colonel Nee-BEM/a had subscribed for 100 shares, on
the übderstanding that Cheeriosy was to be a firet.cleas
depot. It was afterwards made a secoudelass depot, and
as be could not get firstalses books, the depot was of no
use to him, and he wrote to his broker to sell has shares,
but be was somewhat astosisbed at receiving • reply that
they were unsaleable and worthless. Of course he must
bear his lass like any other shareholder, but he protested
against altering the class of • depot from first to mooed, to
the great inconvenience of subscribers.
Mr. Honours (director) tendered soma explanations as
to the accounts, observing that it was the desire of the di-
rectors to afford the fullest information. There was no
000ceelcoset in the accounts—everything was fairly sod
fully laid before the shareholders.
Mr. ABU, who said he was the author of the letter in
the Doily New signed " A. B." and was prepared to verify
every word in it—
A Si DR/MOLDED How many shares do you hold!
Mr. Aim, did not know whether it was five or ten. (A
Dilatant' : " Five." " Hear, bear." and a laugh.) He was
so dissatisfied with the management that he would not take
up many of the proposed issue of new shares, and quips-
tweed the legal right of the board, without the previous
convent of the shareholders, to issue the notice they had
done for raising further capital. For his own part he did
Dot care whether the company seek or swam if it was to
remain under the present management. (Oh, oh.)
Several SkIAILLHOLDEDIS protested against the time cf the
meeting being unnecessarily occupied by • geutatuan who
only held five shares. (Hear, bear.)
Mr. H. Wiudame thought the proper course to bring the
differences of opinion which appeared to prevail to an issue
was to move a vote of confidence in the directors. (Hear.)
' As to the item of preliminary expenses, if it had not been
for them expenses the company could not have been
formed ea they were formed, sod in paying operations those
preliminary ex nooses were as much an asset as their stock,
and in enact represented the goodwill of the concern. From
the nature of the company it was very likely that the shares
would not be easily saleable, few people liking to go into a
concern which must depend very much upon management,
and was engaged io a business which they did not under-
stand. He gave credit to the board for the arrangements
they bad made during the year, as explained by the ebair.
man, believing that they were calculated to place their busi-
ness on a sounder footing for the future. He also considered
the policy of the directors was wise in issuing 10.000 new
preference shares, and thus widening the basis of the pro-
prietary, and affording • large capital to fall back upon, in-
stead of calling up a further stun on the mistier' preference
shares.

Mr. JOHNSON (auditor) gave some et plasatione as to the
item of prelimioary espouses, which he said were spread
over a oumher of years, MI. being written off each year.
A SHAHLNuLDER—(tut eau it nett to treat the item as
an same?

Mr. JO/DOWN—It was stated more as an investment than
an asset. He pledged his reputation as an accountant
that the item ores correctly stated.
Mr. E.tregs objected to the issue of fresh capital in the
shape of preference shares, the result of which must be still
further to depreciate the original shares and the ti per cent.
preference shares. . . .

A SklAltitlOLDElt complaioed that the privileges of the
original shareholders bad been unfairly reduced by limiting
them to l:, instead of 20 volumes at a time.

Lord Orin FITZGERALD and others urged that it was
both unjust aod impolitic to reduce in any way the privi-
leges of the original shareholders.
After some further discussion,
The CHAIRMAN, in reply, stated that one great reason
why lb* shares were not readily saleable in the market was
that the comps, mu made the (neatest object of attack
by a few small shareholders who had their owe interested
purposes to serve. But the shares were saleable, and he
and other directors had bought shares within the last few
days. He was glad to see, however, that the reshot of
the meeting was in favour of the directors, and not of the

few discontented and disappoieted persons who wrde letters
to the newspapers. A. to the privilege .4 enareholders in
molter of books,when they raided the ter..., t
the public, which they found it necessary to do, they wore
bound to reduce the number of volumes to the holders
shares They had placed the case before Mr. Lloyd, toe
Queen's counsel, and acted upon bas opinion. Ltd el,
shareholders had the right to convert tutu six per cent
shares if they were content to abandon toeir privilege,'
taking books. The Cherteey first class depot had not
and on that account had been given up. The cause of
increase of expenses was that they h.d estsblisbed
more depots during the post year. They Mid t.v,ued .it
sent 10,000 preference share., upon a hich they Lei
up 5,0004, and they intended to issue 10. f(/) other pro,.
eoce shares upon which they proposed to call up also 7,i,.
This would give them a nest egg of rooot.. and would ••st,•
their creditors, and leave them 10.0tri.o. to fall back
The increase of capital was wanted to carry on the in,re,
business. He believed that this wot.ld be the 1.,,t t.: •
they would have to ask for money from the share!,
The general subscriptions had increased, but the
were many of them not yet is full operation.
The amendment was then put, and lost by a lay,
majority, only lye hands being held up iu its fsvour,
the original resolution was affirmed, with four dissentient:.
It was explained that the directors contempt ded couvrrt
ins the present 11. original shares into 101. stock, and tit:
they would be more readily saleable on the Stock Lanny,.,,.
The dividend of 6 per cent. and 71 per cent.
OD the two classes of preference shares was then decl.a..l.
The retiring directors and auditors were reelected,
A resolution authorising the directors to issue 10,iesi
shares bearing a preference dividend of 74 per cent. ssa co•
rid by seventeen hands to 6.
A vote of thanks to the chairman and directors conc:u%:, I
Lk* proosediop.