The Express.
London, England, 1849-11-01 00:00:00

RAILWAY MEETINGS.

YORK AND NORTH MIDLAND.
YORE, WZDNIODAY APTIZSOOW.
Thu day aspecial meeting of the York and North
Midland shareholders was held in the De Grey Rooms, In
this city, to receive the third report of the committee of In-
vestigation. The attendance of shareholders was not so
numerous as at former meetings ; there was, honorer, a
lane and influential body ot shareholders present.
The Lona Miami of York (James Meek, Req ), took the
chair, but requested that, afar the notice convening the
meeting had been reed, the meeting noted permit H. S.
Thompson, Rsq , to take the chair, inasmuch as one of the
primary questions involved in the report was is reference to
insult as chairman of this directory.
Mr. TliOid PEON accordingly took the chair. He observed
that entails c'iarges bad bra made against the directory—
not aeons their persoultharrar, bat their capability to
act as directors. He trusted that they would all set and
speak iu good temper during these proceedings. He then
proccoded to observe that a gnat number of proxies had
bees received in favour of the coalmines before the drat-
tan' answer could have beer. received by the shareholders ;
and thus the prosecution being closed, the verdict wee given
Wort the defence was entered upon. The 22nd October
was the first day on which any proxies were received, and on
that day 19 were received for the directors, and 94 for the
committee; on the next day 20 for the directors, and 97 for
the committee ; on the 24th there were 39 for the directors,
and 128 for the committee. Al these proxies were received
before the answer of the directors to the charge made against
them could be in the hands of the shareholders. On the 25th '
the directors received 64 proximand the committee 90; en the
26.11 there were 33 for the directors and 73 for the com-
mittee; next day, 60 for the directors and 46 for the com-
mittee; on the 28th, 52 for the dire demand 70 for the eoin-
Innen ; end on the 29th, 2.5 for the directors and 47 for the
committee. It was thus apparent that the great bulk of the
proxies held by the coronae were received before the
OSAMU delis directors was issued. Under then arum-
stances it was right they should state the course which the
directors intended to adopt. If the shareholders present at
this meeting expressed an opinion that the charges against
the directors were not proved—if such a verdict was given
strorg:y, then the directors world continue to exercise their
legal powers and retain office until the shareholders at large
could bs further ranked. If the meeting gave a contrary
decision, then thew would bow to it. Proxies would be seal-
able for every legal purpose for which they could be used ;
but proxies could not he used to turn out directors.
The LORD MAYOR then retired from the meeting, ob-
serving +hat the rookie he held he should not use In refer-
ents to any question affecting himself penually.
Mr. Alderman SWANN (of Yolk) then rose to present
the tt ird report, which he regretted would not be • final o .e.
Me tees to present this meeting with a rep at, and was pre-
=defend it. He bad no personal fringe against the
; but in finding ant with their acts he would do
ne billy and unflinchingly. With reference to the g 1
Wes in the report, he thought the Lancashire and York-
shire Railway Company was fairly bound to carry out the
Hull and Selby lean. With reference to the Hull and Selby
preference shares, they hat done the best in their judgment,
end they did not ask for a decision upon this
recommendation to-day. With reference to their poet ion it
was quite clear where their calamity had srimu—it arose
from their unprofitable extensions. In regard to providing
• fund for the maintenance of rolling stock and permanent
way, he strongly recommended that that should be done. It
war the way in which they would bi st maintain their cre-
dit. Having a debenture debt of a million or more, it was
necessary to show that there was toles, of the interest being
paid; let that be done, and the good effect would soon be
apparent in increased credit and in a reduction of
interest on their debt. Then directing his attention
to the first part of the third report, he observed that he
was prepared to take issue with the chairman as to the
point in dispute. He would go item by item into the
charge. ; and he was content that the shareholders should be
the judges The committee aimed that report in consequence
of the want of cordiality on the part of the directors, and
from an impression that the directors were not so acting as
to tend to the benefit of the idempany. The meeting would
remember that, when last assembled, the directors were
against the committee as 13 whether any of the old director
should be retained. Subsequently the directors had shows
a supineness with reference to the proceedings against the
late directors who improperly took shares; they were ready
to proceed against Mr. Hudson, but there was an evident lean-
ing towards the others, He had received an intimation from
Mr. Thomper, that that was not the feeling of the directors;
but, nevertheless, circumstances did exist which led to a
contrary conclusion. With reference to Mr. Peter Clarke,
his retention for so loag a period was most b'atneable ; and
the dinner were clearly under an infatuation r to that
person. The individuals brought from Hull to York, and
placed in reepeasible positioas by Mr. Peter Clarke, showed
that he had had complete control over the line. With
reference to the station master who had absconded, they
were at issue with the directors as to the facts—their belief
beteg that several days had elapsed before the warrant was
issued. He thought that, although the committee was one
fur inquiry, in the seleetioa of a chairman 'ad of dine-
tors they ought to have beat censultal. He defended the
am of proxies on this evasion, which was justified by the
drones at which essay of the shareholders reside.
After some further remarks, he moved that the third
report be received.
Mr. BULL seconded the motion, which was agreed to.
Mr. SWANN them moved that the whole of the first
part of the report be adopted, and contended that Mr.
Meek's ranexion with the Great Northern Railway fen-
etered it impossible that he should retain the chair of this
company. Oa sound principle, he untended that the inte-
rests of this company would be beet promoted by hung •
chairman independent of nay enter etutrecy.
Mr. CR/09811AT rase te mew ea seeemlnten that the
first part of the report be net agape* sad reseeded to read
its principal toren efiwiminiffsp upon them, sad denying
' that there had beta any rehouses te of d assistance to
the coeuminee, sifter by the Mouton er the officials
The charge. muds against the agitate were of
that eharacter win*, bad they studied their own dignity,
they would net haw pat into print. He thought it ex-
tremely salsa to allege es a canoe of delay that the directors
or officials had refired to afford facilities. He denied that
was so; and observed that the committee had themselves
risen for ten days or a fortnight. With reference to Mr.
Peter Clarke, no one come into the direction more opposed
to that individual than himself; but the directors would not
Ware this company by hastily dispensing with a very auto
servant, who on many points knew more than the whole
board of directors put together. Many important matters
had to be settled with the Midland Railway and other coa-
panic', in which conflicting interests intervened, with
respect to which the coarse to be punned by this
company it was mat desirable should be settled. Mr. Clarke
remained from day to day at the entreaty of the directors,
until important toestiotui could be settled, affecting the
goods traffic; and he thought that it was unfair that they
should have their judgment impugned by those who could
not have the knowledge they poesseEd. With reference to
the station-master, who was a defsulta to the amount of
some St. or 91., some of the directors thought it unjust to pro-
secute him, whilst another notorious and profligate rogue
was at large. The majority of the board were in favour of
his prosecution, and on the same day a warrant was issued for
his arrest, but he raa away. And he (Mr. C) was glad to
hear it, because a boy brought up in such a
school was entitled to some unnderation. With
reference to the cashier alluded to as being a
defaulter,that individual was preparie; a statement to
show he did not owe the company anything; but it it was
found he did, he was prepared to pay any sum which might
be due from him. He admitted that they found on taking
the direction that many of the °Moen were most inefficient,
but the directors had had their heads tint behind them by
captious objections of the committee. On one occasion he
recommended that then should be two accounts, one for
capital and one for revenue, but It was objected to by the
committee.
One of the COMMITTER.—The proposal was to change
the bank.
Mr. CRAWSHAY.—No, the proposal was to have ono
account at one bank and one at another, so as to prevent
the two from being mixed together. Mr. Cfllllllll7 0012,