The Express.
London, England, 1849-02-26 00:00:00

THE EXPRESS, MONDAY EVENING, FEBRUARY 26. 1849.

WATERFORD, WEXFORD, WICKLOW, AND
DUBLIN. _

Half Yearly lleffisog ~i;e74l;;§: Feb. 24.—0 a the sa-
semblies of shareholders at the dike., West &rand, at the
tppolated hour, for the of waiving the
report. they were kept wafer more than an beer, when
a gentleman &dammed those present. He odd he had been
damned by Hews. Hest and Bon, of Whitehall, solicitor.
to the eceepany, to inform them that it wee the desire of ,the
direstors that the meeting should be adjourned The sham-
holden unanimously sated spinet the adoption of such a
mem. Red cap muck dkaatisteaties with reference to
the waded of the directors. . .

A 811•11,11OLDii wished to know the nun of the gentle-
man who had beta sent with this intelligence.
The @Meager said he did not attend there to answer im-
pertinent questions. He bad merely been instructed to
adjourn the meeting, and he therefore declared it to be ac-
cordingly adjouraed.
A SHARILKOLDIII said this proceeding on the part of
the directors wee mast irregukir arid unwarrantable, for by
the act t I parliament a meeting of shareholders could not be
adjourned except the directors 'kneaded for that purpose.
The solicitors had she, be considered, taken a Wry great
liberty with the shareholders, by sending a managing clerk
to represent the dinotoes. In the course of his experience,
he had never known each an act of injustice to be done by
say railway beard to a body of shareholders as that then
dime to the sharsholden present, and he trusted that publi-
city would be given to the proceeding. As, therefore, neither
the thairamm, directors, nor solicitor had thought proper to
attend, be would move that Mr. Nub (one of the ohne
hens.) take the chair.
Mr. NASH was ateardingly voted to tie chair, and stated
that, is his opiates, they were complying strictly with the
est et parliament is the coarse which they were taking, a•
the theitthen was not present and no direr or had moved the
adjournment of the meeting. The act provided that in such
a ease any shareholder might be appointed to preside over
the semeg. He confessed he felt greatly surprised at the
manner in which the directors hai sated, and this
surprise wee mixed with some degree of disappointment,
se he bad fully expected that they would have offered
gene explanation as to the critical state of the affairs of the
sompeay. As the directors had not considered it expedient
to furnish the proprk.ors with the halt yearly report, he was
to have it is his power to lay before them some parti-
respecting it. He found from the hall-yemly account
that the deposit had only been peid on seventy five thou-
sand shares; that the first call had been paid t 3 the amount
of 12,8581., and that the third call had only been paid on
6,460 thane. Shares to the amount of 6.400 hid been allotted
se the directors and company of the South Wales Company.
Oa the other hand he found from that account that the
company had spent 118,0001., which Left a beltace of 13,8701.
is their favour, bat aa making inquiry at their bankers' he had
head that they had in reality only a balance of 1,0001. This
was a serious discrepancy in the account, and he thought that if
called for immediate explanation from their directory. He
needed the statement as a very extraordinary one, se the
othspany never had, even when most prosperous, a balance
in hand szeisoling 2,0001. Another point to which he wilted
to direct their attention was the enormous expense to which
the company hd been pat. He confessed that he did not
expect that their watimlekles would prove • it-avenue one
whilet they pmWeed seek *posses to be Incurred; and he
would tbnie sumps* is the consideration of the company
that a mensittte *sell be appolated to make partieel.r in-
quiry into tier batipmely esseent, and he would also sub-
mit that the shams elbseld be forthwith reduced to quarters.
Before, however, they adopted any course with reference to
these matters, he thought it would be advisable to have the
*Won of the shareholders generally up in them.
He had received a statement from a gentleman
of what he described as the " iniquities " which bad
been perpetrated by the directors of the company.
(A lamb.) It appeared from that statement that in Juae
1846, there were one hundred thousand 201. thane ; the;
twenty-seven itemised of these had been reserved by the
directors • and that the allotments had been ultimately is-
thmoid to 'little mere then hilt the number et shares at the
animal of the company. He also foaled that in June, 1846,
76,0001. had be paid for the deposit in the House of Com-
mons, and their expenses in the Home of Ueda had amounted
to 160,000/. more. (Cries of " shame.") After the get of par-
Sauget had been obtained a strong disposition had been
thine*/ in Ireland to teeth up the company ; but, with a
N
view defeating any attempt which might have been mule
kr that purpose by the shareholders, directors had re-
fused to register the scripholders, and, by this means, in
Feb., 1847, they caused the works to be pncesilid with.
Having detailed these hats, he believed it only remained for
the skareheidere to ea sidar the prepsiety of appointing a
eounnittee so brie kw tits Mal lathe esnapeny's affairs.
Yee Ms ewe pest be tame say that be mesidered the
*depths of seek a smarms to be obsoletely emential for the
primperity of Me esepsay.
• iletsenneUent steppe* that a new board of di-
mes should be masticated ; but, after a long:bated dis-
semble as to the seen, the shareholders should adept,
Mr. OALLINI moved the following resoled*: " It
befog alleged and a on the fees of the meioses that
the is
capital y sabscribalfor was lem Men Mims
kart* and that the call of 1847 he. snip boa
paid me about one-feertk of the MW
and the next all of 11. in Much 1848 ma lA=
nap or about 1.16tk of the total mbar* mad
that the alleged subseriptim of Me Boa* Wales Company
for 11,200 singes does set appear la the esessat or books, or
am paid ep; red that the broken bad sat Is band ens-
twelfth (AIM map* Mims mad lb* Me mpital has hen
Met Mame the amides el the *embolden, resolved,
" That ele somas be rehired to a essemittne el three for
lanotigetiog, with liberty to report ea Ms Mere proceed-
bringi or dm named* ef the limo, and to
*me antis* beton a essmelelse of Ms Home of
now sitting on railway assmate."
Tke reseletion was etecoaded by Capt. Waammorow,
sad eamineseely agreed to.
The Meeks et Me meeting having been voted to the chair-
ass, the proceeding terminated.
IIJNDALIC AND lelm*"
la theHoffmrly

DUNDALK AND ENNISKILLEN.
" "--.". —Dublin, Feb. 23. Earl of RODIN

After some diacuesion, the directors' report was read.
Amongst other Wags it stated that—" That portion which
lies between Dundalk and Csetieblaynry was opened for
trials on the 16th feet, shoultamonaly with the opening of
the juncoes line Weans Dundalk and Drogheda ; and the
Maas which bee at ones started up, without any previous
prepustioa on the part of the emehmesten, &0., in the
neighbouring tows' (who could not be induced to believe
in so early an opening), bee fully met the expectations of
them who ham 'rimmed it. There Le daily demand for
conveyance of cattle, tic., the arrangements for which are in
a forward state of preparation ; but the board have mean
to believe that, eo soon as the low fares now fixed shall be
generally known, all ether tionveyanoss for passengers or lug
gage between the towns above-named will be discontinued-
The balance-sheet et the company, to the 31st Der. last,.
theft the total receipts seamuttiag to 166,6661. 7e. 6d., the
dkituresmenta to 162,766 13e. 3d., laming a balance in hand
el 3,0061. 14s. 2d. Siam the let July het, arrears of calls,
to the fifth cell inclusive, amounting to 8,2621 10a., have
been received in cash and bills. Treader from shareholders
nimble to pay have been obtained in trust for the company,
menstating to 1,406 shams, upon which 10,4021. 10s. has been
paid. 1,661 shares will be submitted to you for forfeiture,
upon which 10,3071.10 a. has been paid." Some opposition
was raised to the reception of the report, but it was even-
tually agreed to.
The meeting was afterwards stake special, and voted a
redaction in the number of directors, and also voted the for-
feiture of certain shares en which the calls had not been paid.