The Express.
London, England, 1848-07-25 00:00:00

RAILWAY NEWS.

We hat' a flat market yesterday, but with no par-
ticular variation in prices. The lighter stocks were
those chit fly commanding attention.
RAILWAY BILLS IN PARLIAMENT.
Lonna —Loan SHAFTEMIL"•tY'S COMMITTEE.—Dundee
and Arbroath hallway (Dundee Junction). bill recommitted, clauses
relating to capital anutedueed.—Royston and Ilitchin. Onlerod to be
reported.
G twee B. Nor th and South-Western (Harrow to Brent.
ford). Promoter: eerie beard.
Gaon 9.—Scottish Midland Junction (amendment of
site, and branch to Laureneekirk). Preamble not proveil.—PaLley,
Iterrhead, and Varlet. Case opt ned.
Li toot r to —Liv, rpnol, Manch,ster, and Newcestlewpon-
Tyne Railway (abandonment of project). CAA' opened.
MEETING.—HUTCHL RHEttlSH.—Special Meeting.—
London, July 24.—Mr. William Ileid in the chair.—Thia gentleman
gave an ateount of his endeavours to get an alteration in the statutes,
so LIA to make dem more similar to tic se of the Freneh companies.
His only object in et doing was to procure for the English shareboldera
a greater control over their property than they had under the pretend
stratutea. Ile read a report, from which he argued that the frelings of
the Dutch hoard were not friendly to this alteration, which, in his
opinion, would enable the concern to go on to prosperity.
the heed direction in Holland consisted of six persons,
one of whom happened to be an itinglirinan, and tour directors
were in legidon, but still if they had all wished to go to Holland, they
would not be condilered tie forming the Dutch board. lie con-idered
that the number ought to be 12, and that the London board ought to
have a representative at the head direction in Amsterdam. At the
last meeting in June, 1018, he attended, and the day before the meet-
ing
he heard that a hostile deputation was come front Liver-
pool with fresh demand% On this oee.iown he entered his
protest against them as neither having the sanction ot him-
self nor at any of the other directors in England. Still the
revolution' were carried by the force of the proxies brought
by toe gentlemen from Liverpool, several of whom were parties
to the former arrangement between himself and the other directors.
He was perfectly cep-tin that there was ocarcely the owner of a single
proxy out of the 50,000 share", who knew how greatly it was to be
toed to the detriment of their property. They now found oat that
another call was matte, and that was not owing ta the Dutch gentle-
men or the London board, but to the real of the tot of gentlemen from
Liverpool. The directors were urged by himself to purchase
the lan I, and they made arrangements for that purr ose,
for the land between Utrecht and Rotterdam, for which purpose
they agreed to a call of le% per share. Another call of lea.
had b::n now made, and be was ewe that a great pressure would be
put on to get in the arrears due from the shareholders. All this ,
would not have happened but for the inopportune conduct of the gen.
Unica from Liverpool. He would conclude by inviting them to air
nify by their proxies at the next meeting which course had been
mo.t agreeable to them—that pursued by the London board or tee
patties from Liverpool. In the meantune the London directors
would do all in their power to undo if possible what had be. a
done, so as to carry on the work to a happy coenplerion.—
Mr. Holland, one of the Liverpool shareholders, gave an
account of the reroons which induced them to make the
demands they did, in doing which he dissected the prospectus of
the company, and elated that the understanding wan that the manage-
ment was to rest with the joint direction in England and Holland.
Ile found that 911,000 out of the 100,000 shares bad got into the hands
of Englishmen. Salaries might be an object to the directors, but
whether they were entitled thereto from any exertions on their behalf
was another question. In one short twelve month 300,000/. Lad been
invested In bonds without their sanction. These and other circum-
stancee led them to have no confidence in the head direction ; but
whet in oats mentioned to them, they elated that these bonds were
bought at the leatigation of the London board. He admitted that Mr.
Reed', objects were a step in advance, but were not ouch as would
satiety the ghat eholders. He and his Liverp,ool friends insisted 1114
the proprietors should have a control in the representation, without
which they would never progress to their satisfaction, nor could they
obtain their general meetings for explanation. He would now ask,
how could these things be offenstre when they were merely proposals
for carrying out the agreement, and giving the shareholders in this
country a majority in the n.anagement. They did, however, consider
there proceedings as hostile, and calls had been made in con-
sequence; the property was now further depreciated, and their
shares in arrear were threatened with forfeiture within 14 days.
Was this to the purpose of *suing a new prospectus? They had the
materials at hand: there was their 260,0001., and there was their con-
cession of the line. He ooncleded by denouncing the original pro-
s and the cor:octets of the scheme, for the manner in which
they bad deprived the ihareheiders of the control owe their properer.