The Express.
London, England, 1851-06-09 00:00:00

MANCHESTER, BUXTON, AND MIDLAND

JUNCTION

A meeting of this company vu held at Derby,
convened in compliance with a requisition, for the purpose
of determining whether any and what portion of the lines
authorised shall be at once proceeded with, or whether any
negotiations shall be opened with any of the neighbouring
railway companies, with a view to effect some permanent
arrangement with some or one of them. The meeting was
also made a special meeting, at which the draught of a bill
sow pending in parliament, entitled, " A 23111 to enable tho
Manchester, Buxton, Matlock, and Midlaud Junction Rail-
way Company to complete the purchase of the Cromford
Canal," was submitted for the purpose of considering the
same, and approving thereof, or otherwise. The Hon.
O. A. Cavendish, M.l'., in the chair.
Mr. THOMPSON. of Moat-hall, suggested that a
committee of three independent shareholders should
be formed to co-operate with the directors, who
should go to other companies and place before
them the real value of the line with the view to make the
best permanent arrangement possible. What could be more
fair than this? He held proxies for more than 30,000
shares, and some of his friends present held 2,000 shares,
and he knew that his motion was approved by still larger
numbers. Nothwithstanding this he might, perhaps, be
beaten to-day, owing to the Midland Company having split
up their allotments into small holdings and manufactured
14,000 votes. (Expressions of disapprobation.) Such an
act as that placed the Midland in direct hostility to this
company, and such a use of their influence was offensive
and illegitimate. (Applause.) He contended that the,
Midland's vote could not be legally split, and if so used to-
day he would enter his protest against it. (Applause.) He
concluded by moving that himself and two other gentle.
men should be appointed a committee to co-operate with
the directors, one gentleman being nominated by the board
and the other by himself.
The CHAIRMAN explained the course he intended to
take. lie considered himself bound to support the propo-
sition. (Applause.) They were aware that two represent-
atives of the London and North Western and two of the
Midland Company, had seats at the board. Since Mr.
Paxton's election that gentleman had also become atnember
of the Midland board, and therefore in the position ho was
placed he had, with the sanction of Mr. Ellis and himself,
abstained from taking any part in tho meeting. There
were four members of the board appointed by the inde-
pendent shareholders. Hitherto they had always acted with
the greatest harmony and good feeling, and they were de-
sirous of continuing on the same amicable terms. Mr. Ellis
stated to him that the Midland Company took shares in this
line for their own protection, and theretore he was bound
to do all in his power to protect the interests of the Mid-
lands. (near, hear.) The two questions before the meeting
were—first, whether they should negotiate with other com-
panies as Mr. Thompson proposed ; and in case they were
defeated, the next question would be, whether they _would
consent to limit the capital of the company to 460,0001. • if
not, the Canal Purchase Bill would fall to the ground ibis
year. For himself, he could only add, that his great drive
was to promote the general interests of the mesparty.
(Hear, hear.)
Atter some discussion
A show of hands was taken. Only 16 were held up in
favour of Mr. Thompson's proposition, who demanded a poll.
During the polling, and alter a long and irregular dis-
cussion, it wan ultimately agreed to take a show of hands
on a motion made by Mr. Thompson, that the meeting be
adjourned till Friday, the 27th instant. The motion was
negatived by a show of hands, and it was then agreed that
the proxies on the first poll should be added to the votes on
this motion, and both questions before the meeting be de-
termined by the poll. Mr. Thompson announced his belief
that the Midland Company had made sufficient votes to
defeat his proposal, and in that case,he should test the validity
of the votes.
The poll was declared at 8 o'clock as follows :
For Mr. Thompson's motion
Shares. Votes.

Present 2,900 644
Proxies •• • • 26,514 11,317

29,414 11,961

Proxies for Mr. Thompson re-
ceived after two o'clock on
4th inst.
- -
Against the motion :-
-Present l,BOO 1,239
Proxies

27,125 16,913

Proziea against the motion re-
ceived after two o'clock on
4th inst.

Signed 8. P. ROBINSON, 1 Scrutineers.
WM. ROBINSON, f
A vote of thanks was passed to the chairman by 'WA-
=Aiwa.