The Express.
London, England, 1862-02-28 00:00:00

ME EXPRESS, FRIDAY EVENING, FEBRUARY 28, 1F62.

wiser SHIP COMPANY (LIMITED).
(rim DAY.)

The half-yearly meeting of the proprietors was
held st sees. at the London Tavern, Mr. Beaus is the
as r.

The report wee, io consequence of having been previously
pablideed, taken as read.
TM CtlaleaAN, in movie; iM adoption, adverted in terms
of regret to the retirement of Mr. SatiaL Baker from the
chair, adding that the board still had the advantage of his
advise and mistance. He had himself accepted
the dice of chairmaa with great reluctance, but,
having done so, be should devote his time and atten-
tion to the ship with every confidence, believing the time
near at hand when she would realise the moat sanguine ea-
pectatioes. (Hear, bear.) The board hoped that by the
middle of April she would be fully equipped and ready for
NC At the last special general meeting they were autho-
rised to raise the sum of 25,0001. on mortgage.
They bad only envoiseded in obtaining 18,3301.,
and the remainder was necessary for the completion
of the work of preparation. The officer who had been
selected to take the command was, be believed, well
adapted for the post. It was intended to send the ship, in the
ant instance. on a short voyage, with the view of securing
public confidence ; and it was probable that she would
soon after be sent to New York.

The motion having been seconded,
Mr. W. HAW ES inquired whether the adoption of the
report would be an approval of the scheme of sending the
ship to New Yolk.

The CHAIRMAN rid the directors would not feel bound to
send her to New York, though it was their present opinion
that that would be the beet course. The matter would
be open to discussion after the adoption of the report.
A SHAREHOLDER thought it undesirable that the vessel
should be coefined to the American trade. He
should prefer ha being sent in the first in.
stance to the Mediterranean, where she might be
eshibited at Naples and other porta very profitably.
It might be sad that inch a course was opposed to dignity,
but he could not understand any dignity that was not con-
nected with incases. (Hear, hear.)
Mr. C. F. HATWARD coesidered the investigation which
had taken place far from satisfactory. He deprecated the
frequent change of commanders, which tended to
prevent her from being worked efficiently. He bad
great confidence, as the result of experience, in
her seagoing qualities, but be should not like
to be in her with a new captain. He then
entered into a minute criticism of the report made with r*.
gard to the last disaster of the ship. He had perfect con-
fideoce in the reseal, and would go anywhere in the world
with her, only she must be properly commanded.
Mr. Polar complained of the inefficient state in which the
ship was last sent to sea, esreeially as regarded her rudder
par, and said it would have been more satisfactory if the
inquiry had been conducted by persons who had nothing to
do with the appointment of the captain.
A SHARNHOLDIR thought that if anything could prove
the swollen°e of the ship, it was what she endured in her
last voyage. It was not prudent to allow her to go to see
without having her sails bent. The disaster arose from
the fact that the ship having lost the power of her rudder
over her became unmanageable, and presented a greater
broadside to the element. than any other vessel could
do. Their best course at present was to endeavour
to make up for the past, and to convince their
cousins over the water that in ship-building they
did not take the lead. He regretted the attempt to
upset the arbitration in Mr. Scott Russell's case. The
question at issue having here decided, should not have
been reopened to increase the costa.
Mr. Tarim' said, as the committee who inquired into the
last disaster wax eoestituted, it was not reasonable to expect
a good report. He would urge the directors to do all in
their power to minify the public oo the question whether
or not such an accident was likely to occur again.
A SHAREHOLDER complained of the amount of the law
costa, including upwards of 3,0001, for the dispute with Mr.
Scott Russell.

A SU tREHOLDRI wished to know how much would be
required to fit out the ship'
The SteRKTART observed that the amount was stated in
the report, namely, 6,810/.
The SH ARRHOLDNR observed that the last year's working
expense. amounted to 32,000/., and he presumed the same
amount would be required for the next year's working.
The CHAIRMAN mad the freight. would doubtless pro-
vide for the expenses, and if there should be a slight de-
ficiency, it would probably be covered by the 25,0001.
authorised to be raised ea mortgage. Notwithstanding
what he had heard on that one lion, he still thought it de.
nimble that the vessel should go to America.
The amendment was sot seconded.
To reply to Yr. MALINII.
. . .

The FHAIIIIIAN hove strong testimony to the high cha-
racter and reputation of the new captain, who was, he said,
well known and highly esteemed at Liverpool in connexion
with both sailing and steam vessels. He had a large amount
of commercial knowledge, which would probably prove very
useful to the company, and a gentlemanly bearing. His
name was Mr. Walter Paton.

The report was then adopted.
Mr. Txvion moved that the beard should make arrange-
ment. for bringing the Great Eastern to London for at least
one month during the Exhibition.
Mr. Hr!rr semeded the motion.
Mr. PY LPTIPCII, after expressing his approval of the object
of the 'noting, proposed en amendment. leaving the whole
matter to the eliscretioa of the board. They had. be re-
marked. already made 41,000 f. by exhibiting the Trawl.
Mr. W. HAWES thought that the motion under considers-
tine raised the whole question of the futon, destin►tion of
the ship. le the American voyage the difference in twist
of time between that vessel sod others was hardly worth
consideration ; and the result of the lest three
voyages to America was a loss of 13.000 f. (Hear. hear.)
What probability was there that three more voyages would
lead to a heater result. The great object ought to be, io
Ibis opinion, to send the reeve) a distance which would give
her vast sim and speed full play in the race of competition,
and loam. China. and Australia, would give scope for that.
IHe would seed her out in the first instance to
India and Australia simply freighted with coals, and the
return voyage would yield an ample return. In that way
they would secure the public confidence, and the ship
would he employed aa she wax intended to be, at a mer-
chant ship. instead of being made a show one. (Phores.)
Mr. M'Kear said the suggestion made by Mr. Hawes bed
been before the hoard for the lest two months. He wee
prepare.) to guarantee the funds for taking the ship to Boa-
bar sod hock.

Mr. W. litegnois entirely differed from Mr. HAWN.
What they wanted woe a freight which would load lad
unknol itself, sad that was only to lie found oo the Amen
neon enrage. Until the ship woo put on a certain line
the public would never hove confidence in her. He hoped
the meeting would, not for a moment entertain the pre-
position to make the ship again a Barnum ahow.
In reply to imeetione,
The CHAIRMAN state.' that the offer made by Mr. WlCelie
was the advance or a loan bearing 10 per cent. interest. (A
Voice " Very lib,ro.l."Loughter.) He added that in conven-
ing with the passengers after the lass voyage at Queenstown,
he dal not meet with one who did not exprer hi, willing-
ness to gn out in the ship again. The captain who lirou7,ht
her from Quebec said she was the safest, the mien com-
fortable, and the most easily•handled ship he had ever
sailed in.
Ultimately Mr. Tatum withdrew his motion.
The election of directors to fill competes then took place,
and the proosectimp terminated.

LONDON,rmausr, AND SOUTHEND RAILWAY.
owls DAY.)

The ordimuy half-yearly meeting of the pro-
prietort was held this atoning at the London Tavern,
&AteFegate, Xr. J. N. DANIEL/. in the chair.

The ;epoit stated that the revenue account for the half.
year ending3l, DOD, which had been received front
the lreeees earl audited, showed receipts amounting to
12e. 10d., cad payments to 17,3901. 17e. 5d., learnt;
a balance of 11.306/. te. sd.
The CHAIRMAN observed that the amounts this ha/foreer
, showed some advantage to the aompaey as regarded( re-
ceiptA, there being a difference in the receipts this year as
compared with last of 1,.100/. The Southend portion of the
line was that which was looked upon as the most likely
means seder yyrreeaaeeat circumetaema of improving the pro-
perty. l7areidecable building, as the proprietors were
aware, wag Pug on there, and between eighty and
ninety bes out of 1:10 were occupied. The
Crayoned peek* of the line wan not so remunerative
as it used robe, red the reason was the facilities afforded for
reaching weeeeing-placee which were in better favour. He
concluded by lowing the adoption of the report.
The MOWS TM Walla to, and a vote of thanks to the
chaisims dead the proceedings.

Father Daley has arrived in Dublin from Rome.
WlDer LONDON ROWING CLos.—Firroass, 1862.
- =The following meths Astarte of this club for the ensuing
snoop, arraegemesta having bees made to permit the entry
of members sad MW• for regattas, ago. :—Opeuirm day,
Saturday, April 5, Wandsworth. 4 p.m:, 3.15 train. Eights,
Setunloy, April 19; entries ClO9O April 9. Pairs, Masan
and Tuesday. May 5 and 6, gip with onswaise ; •eureka
slow, April 2A Fours, Saturday, May 31, astrivisgs ; en-
tries close May 17. Junior sculls, Saturday, Jun 211, beats;
entries does Jane 21. Wits, Saturday, July 26; rebus
close July 12. Pain, Thursday, August 14, miniesers ;
entries dose July 31. Senior sculls, Saturday, August 30;
entries dose August 23. Eights, Saturday, Sept. 13; Gettig'
close August 31.
Trim Sogrrm EASTERN RAILWAY DIVIDLND.—
The directors of this company have rosolved to recommend
the proprietors. at the euniog half.yearly msetieg on the
6th of Mara, to enter payment of • dividend of 15e. on
each 301. Meek Waist thereto of 51. per cent per annum.