The Express.
London, England, 1864-01-07 00:00:00

THE GREAT EASTERN.

A meeting of the shareholders in the above vessel
was held on Tuesday, at Manchester, in the Albion Hotel,
Alderman POCIIIN in the chair.—After Mr. Booth had read
the report of the committee appointed at the last meeting,
the chairman informed the company that a deputation from
the Liverpool creditors was in attendance. and wished to
confer with them.-9n being introduced, Mr. Davey, one
of the deputation, stated that they were doubtless aware of
the Frankfort. oe Maine scheme, and that be and the other
gentleman, Mr, Ilighat, who had come with him from Liver-
pool, were reedy to give them any information not afforded
by the prospectus.—The Chairman then stated that, as far
BS ha taw, the original shareholders would not be benetitted
by the scheme, as only sufficient was contemplated to
be raised to pay off the mortgagee*, creditors. and prefe-
rence shareholders. He also wished to learn the character
of the pprroojectors, and the probable cost of the lottery at
Frankfort.—Mr. Highat replied that, as Mr. Fabricius, the
principal trustee of this proposed association, accompanied
by Mr. Stress, the mogul for Frankfort at Liverpool, was
now in the hotel, any information could be lied direct —At
the invitation of the chairman, these gentleman entered the
room, and in the course of an unreserved conversation the
character of the whole undertaking wee clearly shown.—
Mr. Stress. as consul for Frankfort, stated be could per,
sosally vouch for the high character of Mr. Fahricius
sad that the undertaking had been organised by
him at the joint request of the Liverpool cre-
ditors, numbering among them some of the first firms
in the port. and that the whole of the eubscriptioos were
daily lodged with as emicent bank, in the names of himself
and two of the principal creditors. —The meeting seemed
fully to appreciate the statements of Mr. Stoess, but one or
two of them inquired whether the subscription could not be
increased to between 400,000/. and 500,100/.. eo as to give
the onginal shareholders a dividend.—To this it was ad-
vaeced that, as the real market value of the ship was not
more than 240,0001., and as the prospectus was already
issued and subscription, received on noes beers, the ar-
rangements could not now be altered.—The Chairman then
inquired whether an application by the preeent meet-
ing to the Court of Chancery to delay the sale of the
vessel for a few weeks would interfere with the
scheme of Mr. Fabricius, and he was informed it
would not, but that there was likely some difficulty to be
anticipated in getting the court to grant such a request.—
The chairman thanked the Liverpool deputation and the
gentlemen coepectell with the Fraukforton.Maipe Associa-
tion. who withdrew, and ultimately the following resolu-
tion was pared :—" That the committee who... report has
this day been submitted to this meeting. consisting of Mr.
Booth, Mr. Heywood, and Mr. Richardson (together with
Mr. Alderman Pochiu and Mr. C. Hamilton Sharpe), be
requested to continue their services!, with a view of taking
such proceedings as may be necessary for making an appli-
cation to the Court of Chancery for pi•stenning the sale of
the Great Eastern steamship, and to employ ...Leh agency as
may be aereaowy for raising a guarantee fund for defraying
the expenses."

LONDON G &STEAL OMNIBVICaM PANI (LIMITED).
MAE receipts tot the week leading Jac. 3,10,9061.10 i. 10d.