The Express.
London, England, 1849-08-24 00:00:00

YORK, NEWCASTLE, AND BERWICK
RAILWAY.

CHANCERY PROCEEDINGS AGAINST MR.
'JUDSON. _ _

Tema, Tstraeoay.
The half yearly meeting of the shareholders of tee; com-
pany wets held hi tho Festival Caneert-room ie this city, for
the receipt of the directors' report, and the ordinary business
oonsequent thereon. It was afterwards made special and
extra seienary, in pursuance of a requisition signed by
3,010 shareholders, for receiving and considering a report of
the committee of investigation' and vesting in them power
and authority to prosecute such legal proceedings as ineeht
ere deemed expedient, and taking such other ate; s as might
be determined upon for the interests of the competiy.
The meeting was convened for half-put eleven o'clock,
and shortly after that time the business commenced.
Itunmer Davies, E.g., the Deputy Chairman of the
Directors, being in the elude. The attendance of shareholders
war net so numerous so at seme former meatier, and m eny
of them did not arrive until after the business had com-
menced.
The CHAIRMAN mud that the seal be affixed to [the
register of eharehelders, which was agreed to.
The report of the directen having been taken as read,
The CHAIRMAN moved that the report be rea bed, and
entered in the minutes of this dae's proceedings. Title sea-
luting' was also agreed to without amount
Mr. PLEWS then entered into a detailed statement se to
the traffic account prior to the present year, when there was
an apparent balance of 69,7771., but suesequeet pay-
ments uf trath amen's bills, intuits: on various accounts, in-
come tea, and other payments, and allowance ter had debts,
belotiging to the former half-year, had absorbed that nee
phis, sea created a deficiency of 38,7891. to bo provided for
out of the surplus ic.come of the present half-y. are
Mr. CHAT LOH made some remarks, ahowene that on the
half•year's aceeunts, there was an apparent decrease of re-
ceipts of 30,0001., and an increase of expenditer. tf 3.5,0001.
Mr. FLEWS explained that the expense of working the
Hartlepool line wee now included, and not previousle.
Mr. CHAYTOR urged that a return shrewd be made,
showing the salaries paid to thiir respective °Moen • with a
dimes:felled Lucerne and an increased expenditure,' he held
that this was imperative.
Me. PLEWS accounted for a large pertien of their dimi-
nished traffic, which erase from the Danish blockade, whilst
their expenses were of course going on.
Mr. LOVE made some remarks respecting the Hartlepool
purchase, torte, effect that the committee of mvetheation hod
not been able, for mast of time, Cully to consider that trans-
action.
Tree resolution for receiving the report and eatt ring it en
the minutes was then sgretd to.
The CHAIRMAN then moved that the interest of i per
cent. on the lest coil on No. 1 and 2 extension thetas oc paid,
which was agreed to.
Mr. SIDNEY, of Liverpool, asked if the diretters were
prepared to resign their office, which he trusted, they
would do.
Mr. H. S. THOMPSON requested th d this question
should not be pria•ed at the present m, moot, as it might be
prejudicial to the interests of the crteepeny.
Mr. SIDNEY strontly pressed that his question should be
answered.
The CHAIRMAN sail. that the directors were reedy t•
resign their trust immediately on the eleceou of their 'en-
amors.
Mr. THOMPSON then addressed the met tic,e. Were
the shareholders satisfied with the reales which the can.
mictee of invest gein had mane? Fur himself he was
perfectly In suet 1 c !raised aeon these docainetti es most
valuable. lie therefore hail great pleasure in mewing a
resolution, that as a temperate meat ore, ant with a view to
the ad Tejon of leg-I pruceedines, time request four of the
anent directors to retire, Jll4 the: the Lind Mayor of York,
Mr. M'Lsren, Mr. Leeounen, Cdr. L we, and Mr. Klein,
members of that committee, is elected direct rts, lU c.nr.u.o•
ties with Mr. Iles,. and Mt eWeod, two of the preeent
directere ; an ewe ly newlyrtenstitutsd permanent beard
to be termed on the 4 ti of Oct..b.r next.
Mr. CARBUTr Puget nod they elesuld Stet diepose of the
question of dividend.
lir. LEEMAN said it was intended to ask the il.are-
holders to posepot e the question of dividend until the fad
re ort of the committee of investigation wee received ant
considered.
Air. PRANCE then secende : the metiea mete ley Mr.
Thompson, and u.g-d the greet policy of its ad, pen. He
added that t!'o weal report ef in • eo.orni.tie w..uld be
be made in ab. art sex we. in, • rid, t her. :ore, that this temeo•
retry arrauge men would not he ter lag.
Mr. CIiATTUIt m reed as as anandnaut, " That in the
selection of iii.ttt, va a enure. be paste t. sinker to ,hat
followed by tie: it attro Countii a It away. Ile ale) cow-
tended that the allowance to the direetury be rcauce I to
per amens,.
Ales. Ilk Da dist. si.n lie. CHATTOI: %hi-altw his amend-
ment.
Thu LORD li AYOR said, it wet with great nth tares
that toe commit'. , consent. tto act temporally the
direction. For him elf, Le could not consent to beeume •
dinner oa tee ee x meant beard weigh loathd ulttheatel, have
so be sat vest-
Mr. JOHNSON sell, that if the final report woe! be
made in six we ks .13.. y might, with great recycle% ,
the pe, sew dine .re to had (Oleo nail that p sloe. Ni
reason had been given to jeer ify title meeeure, It) wh. :a the
affairs of the elemp•ny would be pbeed cans ely el the
hands of 0 is e. ussii..4to, whose dales of Cocestieutien were
tot conclude ri.
Mr. WILILY Jul parted Mr. Thoraptua'a taglotion. He
should he oe lightee to pee such gee demo& as et,...posed
tic emnmit•te m t only temporary but pen- neat
directors. It was abt,,lntely whew ,ry the. the animates
:hold.: be c1ati....1 with tits autherity ape ortunnt lieu
t.ffice ut director.
In an,wer to a at stirs from Mr. SIOXLY•
Mr. OUTC !Le e, Irei•er of the e .mpan), exp1e.1,.,1 the
process by which the toad ertdd ar rj eat t e e shoe of tee
meeting.
hi J. EAS eIIOPE, M.P., ask d if 'eir. Plewa eel Me
Wood, u elected, %amid act in cone 'ranee with tee per
new a frect. a ? 11,, erutioteti the wetting ten; it
they el, eted men s.itliont expert:ix,, sullen
out barmen! wed itbout co-neer:aeon great thane, would
be the contequeuee, eol believer they . ft alter-
wards regret the I:se atece they might ouseion, that regret
' w• old net use° oh. t they were about to :elev.
Mr. PLEWS •el h• oes eet 4,4411* that i.e anything he
or Mr. W.vol had so it is any way hostile to the oominectee.
are he was yea ,e and x-. 1 ir.g to do tie best is hi. power
till the math of G. whet, when the heel report would be
presented.
Mr. WOOD wou'd not pledge I imeelf as to any line of
couduet he shoeld p but he was willing to du the Lot
in his power to &care ode Interests of the ciapany. Ho
bedewed that the cone .rn was a geed one if managed by
reactical men lit,COloi: tel with the aeries ; but ft would set
trod to ke beet& to t-ceper with the direceore. The ena-
eany bail powerful:iv ,te who was actively et work to divert
its traffic.
Mr. eI'LAREN e. in the two ertetlemen had acted her-
mordantly with ten c need:tee hl.et,eore ; end 1 e knew ef
no reason why they could net do so in future. He believed
that tile adoptica el tee resolution weuhl not he injurious to
the interests cf the cote piny
After rue further et...motion Mr. Thompeon's rtrobirien
was agreed to ; a t the directors retiree to gin keel elate
to it, by making the necessary retirements and eh:mond of
cheaters recommended by the resolution.
Daring the abeam • of the chairman, Mr. SHIELD made
some explanatient es is the r-ssens why ho had refused ..o
act on :he committee, in iestitutieg legal proceedings agars'
Mr. Hudson. He ceeteeded that the whole affair ve:s
illegal from begineing to end; and, therefore, that he woe el
rather obey the law of the land than the vote of this meet-
ine. The meeting had no power to make such an eepoint-
meet, or confer bur:, powers as it had erofeered to du. Ho
,denied that he hll bean actuated by any desire to screen
Mr. Hudson, or Peet at.y intimate sequaietance had existed
between that geetlernen and himself.
Mr. M'LAREN they offered some r:marlcs in appeal.: ei
to Mr. Shiel'd's opinion that the pewees conferred on the
committee were eerketly justeied ty the law, and Le cue-
tended that but for that gentlemaile resignation thee creed
have proceeded in enforcing the e.11:ou agnost Mr. Huelseu,
without the delay that had occurred.
THa LITIV&ORDINARY MEETING
Commenced at two o'clock, wee!: the L'JliD MAYO. 2 of
Youz took the cheie ; and Mr. Cease read the if
the meeting of the directors, at which the booed had tree
reseeneructed in the terms comprised in Mr. Thompsore'e re-
'elution. This had been done in a room adjoining to %het is
which the genteel meeting was being held.
A letter was also read from Mr. Shield, announcing Lath-
signation as a member of the oemmittee of investiganote
Much discussion erne as to the ceder of procedure, tin re
being three meetings before the shareholders—the
balf-
yearly meeting, the adjourned special meeting, and an extra-
ordinazy meetiug. Af.er this discussion had been con-
cluded, the special meeting was adjourned to the 4th of next
October.
The business of the extraordinary meeting was then pr t-
ecedoi with. Ti.. Lows MATUR entered into some expires-
Cons why a fourth report would be necessary. This had
arisen from their not getting the accountant's report, and
be feared it would take full six weeks to coached°
their labours. He trusted that the mcetiug would glen
theta credit for hes ieg acted with energy and hmtaity.
then enumerated the loweal Levies seLich the report em-
brace, and entree 1 that when the permanent board le as
conrtimeted, if they succeeded in securing men who would
honestly, faithfully, end assiduously discharge their duties,
this line would Le one of some value; he believed that at
least a minimum dividend of 4 per cent, would be secured;
but he hoped to en 6 per ant., or perhaps more, realised.
lie loticed upon the opening of the Great Northern Ral!way
as calculated greatly to augment the traffic and revenue uf
the company tthimately.
Mr. HARRISON, tee engineer, contradicted the report
that the Berwick Bridge was unsafe. It was as substantial
mei sound as any bridge that had ever been built.
The report having been acelved,
Mr. Id'LAREN moved ill adoption in its entirety, with a
proviso that any shareholder should have the option to mon
any amendment on any one of the fifteen heads' which it
embraced, with reference to the Great North of England
purchue, if the meeting approved their suggestion, then the
committee would put themselves in communication with the
Great North of England Director', with a view to treat for
inch as arrengemeet as that which they had proposed.
Mr. LOVE seconded the Motion for the adoption of the
report.
Mr. SIDNEY asked whether Mr. Plows, as chairman of
the Great North of England, would give any assurance that
such a propcsal es the committee recommended would be ap-
proved by that company.
Mr. FLEWS said that he should be happy to do all he
could to forward en arrangement, but he could sot pledge,
nor would he pledge the shareholders of that rioupri ‘l4
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