The Express.
London, England, 1851-06-10 00:00:00

WINDLNO-UP OF JOINT STOCK COMPANIES

THE SHROPSHIRE MINERAL RAILWAY.
Yesterday there was a meeting before his Honour
the Mater in Chancery, Kinder,lcy, relative to the affairs
Of this company, the directors of which received 34,4081.
boa the shareholders in the shape of deposits. For
21,E111. of this an account is sought for, alleged to have
been employed in the share market.
Mr. Bri.tow, solicitor to Mr. Adeon, the official manager,
mid, the object of the meeting was to proceed with the set-
tlement of the list of contributories, and that Mr. Serjcant
Adams, who was chairman of the company, claimed on
behalf of himself and other directors to be placed on the list
in respect of between 8,000 or 9,000 shares.
Mr. Serjeant Adams said that the accounts of the com-
pany had been reudend for every shilling received or paid,
and that the shares in question had been purchased out of
• private fund by the more honourable part of the disasters,
to obtain what they were entitled to.
Mr. Owens, who appeared for Mr. J. Atkinson and
others, also claimed to be put make list in respect of same
of these shares.
Mr. Serjcant Adams insisted on maintaining his claim
to these shares, having given • valuable consideration for
them, and according to the company's deed the possession
sad production of the scrip which he had constituted the
sole title. Mr. Atkinson it appeared entrusted his scrip
for fifty shares to Major Newcombe, the deputy-chairman,
who sold ten of them, on which the dividend of 15s. per
share had not yet been paid to him (Mr. Serjeant Adams).
Is theme of Miss Ewbank there was • claim to be ex-
cluded from the list on the ground that the 25 shares had
boon sold by the sharebroksr now in Newgate to • Mr.
now in the Asturias. Mr. Edwards, of Iron.
bridge, one of the directors, claimed to be included for 200
shares, and, after considerable discussion,
Mr. Alderman Copeland, M.P., having been called upon
to give an account of certain expenses incurred by himself
and other gentlemen who were appointed a shareholders'
committee, said, with respect to an item of 501., for ex-
penses to and from Birmingham, he believed the official
massager did not object to its allowance.
Mr. Serjeant Adams (interrupting) bagged to say, on
behalf of the directors generally, that they objected, and he
smog them.
Mr. Alderman Copeland was struck with astonishment
at the objection. lie was • shareholder in the concern—it
was true he had sold his shares, and bought others at a
discount—but he had succeeded in getting • committee of
inquiry into the company's affairs, and, by dint of great
and two or three other gentlemen associated
Vl.=. be
did manage to get from some of the directors,
who had been guilty of malpractices, between 4,0001. and
6,0001. of the company's funds for the shareholders, and
the 601. was for expenses incurred oa that account in tra-
velling to Manchester and Birmingham. The objection
esilse very ungraciously after he had succeeded in obtain-
ing restitution of this money for the shareholders, the
4,800 scrip in respect of which (said the worthy alderman,
Moducitfg • great bundle) were now in his possession, and
which had been used in rigging the market, the 4,900
skins being paid (or out of the company's fonds.
The Master said he could not discuss the graciousness or
otherwise of the objection. If Mr. Alderman Copeland
oak a claim to be paid WI. by the eoutributories under
the orate, he must show that he was authorised to take the
oid also what they cost.
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