The Express.
London, England, 1867-08-27 00:00:00

LONDON, CHATHAM, AND DOVER RAILWAy.
(Td DAY.)

Thin
morning a meeting of the B and C share.
holders (Metropolitan Extenaioa), convened by the B and
C committee, was held at the London Tavern, to receive a
statement from the chairman, Mr. WASTER.
The CHAIRMAN called attention to the circumstances
under which the committee were appointed in Jan
last, for the protection of the B and C holders, and ob-
served that they had brought two actions against Mew%
Peto, whose reply was a general denial of their liability
under the agreements. On consulting counsel the con.
mitts* found that the matter was so beset with legal tech.
nicalities that it was advisable to suspend proceedings,
They came to this conclusion on several grounds, one
being that they were engaged in an expensive
parliamentary contest which rendered it necessary that
they should husband their resources; another,
that they had lesson to believe that, so far from Me
ssrs
Peto's estate yield yielding 20.. in the pound to crediten
and leaving • surplus of something like a million, as bed
been stated, there was every probability that the dividend
would be • very small one, and that, therefore, if the
committee recovered a verdict, that verdict would
be hardly worth the expense of obtaining •
Messrs. Peto having now goes into bankruptcy it
would be of wane open to every B and C beige
to go to the court and endeavour to establish hie
claim against the firm. Whether he would see.
ceed or not was another question. He himself
had a claim against them of something like 3,moy,
which if he stioceecled in establishing would be of nuns
for himself individually, unless a committee were placed in
ion of funds to enable them to take action onLehlealr of the general body. It appeared on investigat-
ing the affairs of the company that 300,01.01.
• rail due to the Metropolitan Extension by the
general undertaking, that money having been misapplied
to other purposes. Had it been properly applied not only
would all the land for the extensions have been paid for
but they would have had 90,0001. to the good. The boarel
of directors fell in generally with the views enunciated in
the report of the committee, and • clams was accordingly
prepared for the protection of the B and C holders to be
inserted in the bill ; but after some time the anualgama.
tion with the debenture holders took place, to
the result wee that, instead of l,500,000(., 600,000,,
only was to be raised as • first charge. By clause 4 of that
which was now the Aet, all prineedings were to be stayed,
end clause 6 fixed the suspense period at ten years-•
period within which he had every confidence that the
undertaking would have recovered itself, especially the
metropolitan extensions, about which he was more sanguine
than the rest of the undertaking. Very little was
required to be spent either on the main line or the
extensions beyond the 30,000/. which was needed for the
coal ahedn. Recapitulating several clauses of the bill, the
Chairman went on to say the more important were these
by which the rights of the A and B holden were reserved,
and which fixed the suspense period at ten years. As
attempt was made to make the period five years,
but he had sucenefully opposed it, considering that
it was monstrous to give power to sell the line through the
Court of Chancery if It could not pay its way, which wee
the condition, within a term too short for it to recover
I itself. He added that, although the committee had paid
the parliamentary agents' and the house fees, they wen
still indebted for counsels' fees and other charges. Several
of the larger shareholders had not contributed the shilling
per oent. agreed upon, although the debenture holden and
other interests had paid, some of them 20e., some
10a, and some ss. per cent. to protect their into-
rest. If the B and C holders would all of them pay
the shilling that would enable the committee to discharge
their outstanding liabilities, which was all they required.
He reminded the meeting that there were various im-
portant questions yet to be decided as to the position of
the B and C holders with the general undertaking, as,
for instance, their liability to the passenger duty, with
which they were charged for the first time a twelve.
month ago, end to rates and taxes, with which
they were charged first at Christmas lest—two
items which together made 8,0001. a year. What
he proposed was that • petition should be presented
to the Lords Justices, under the authority given in the act,
and in that way • decision could be cheaply obtained which
he trusted would satisfy all parties. In conclusion, he
would move the following resolution :—That this meeting
entirely approves of the successful efforts of the
B and C shareholders' committee, and having re-
gard to important pecuniary questions still to be
nettled between the Metropolitan Extension and the main
line, requests the committee to continue to represent and
protect the interests of the Metropolitan Extension slum
holders." He ought to add that the result of the
parliamentary campaign had been to raise the B stock 15
per cent it the markets

Captain IsHetwoou seconded the resolution.
In reply to 11r. HARRJAON,
The CHAIRHAII said the question of the Victoria im.
provemente, and various other matters, would be as far es
possible embodied in the petition.
The resolution was put and carried.
Another resolution, moved by the CHATRYAN, and
*wooded by Captain leweewoon, was adopted, authorising
the committee to make further application for the shilling
a share to those shareholders who had not yet paid.
A vote of thanks having been aosorded to the ehahmisa
and other members of the committee,
The, CHAIRMAN, in acknov:„Ving it, observed that the
first 30,000 f. of increased pte would cover the entire
interest on the 600,0001. to be raised under the act of par.
liament which 600,000!. was to be spread over the entire
undertaking ; whereas, when the accommodation for the coal
traffic was completed, the Metropolitan Extension would
receive 30,00 W. a year from the Great Northern Company.
The meeting then separated.

WEATHER REPORT.-(THIS DAY.)

TMISDAY, AVM= 27, 8 &IL

4. I Ridreree. w
2.
It
& h W. 11:17. ....ti .14
__,
Roans .... 40 W. 4 W. eb I t
Abadan .• MI B.W. 1 &W. bi -. 1
L.eltb
*Anemia
Orerseastle .90, W.N.W. 4 W.S.W. re 9.06' -
Valenti& .
Roche's Polnl9o 00 56; W.N. W. 4 W. eb ' 3
I2verpool 130.03 621 &W. 1 &9. W. b•— I 1
LI oly herd •••f30.02 57 B.W. 3 B.W. el -
Pensenoe 140. L 3 W.N.W. 4 N.N.W. leb I
Brest 130.20 57 N.W. 3 N.N.& fro RN 4
Lerient ,:.330s SA N. lIN. I oc 104 2
Rochefort,— 34.03 61 N. 3 N.W. ee —i S
Plyre.eith OO. I 2 66 N.W. 3 W.N.W. b 1
Weymouth 30.11 68j N.W. 1 W. eb -- I 3
Portsmouth 30.03 66, N.N.W. 13 N.N.W. rc 6.19 2
London 30.06 60 W.N.W. , 3 W.&W. ore 013 -
Yarmouth 14.98 56' N.W. 1I 1 &W. rb 2
14 dearbeeough .28 671 B.M. 111 4. W. II• 32 2
Shields 30.057' N.W. I B.W. e 2
Helder i. I , - -
___

RIM AHAB.
The stmoapherical pressure is Inc:riming generally over the
British isles this morning, mid temperature hes drat:awl .1,,
yesterday, especially on the southern and eastern coasts of tap
land. The winds have veered towards north% est, with sled
weather.

MARITTHR CAPTURIL—The Times publishes
letter from the Earl of Denbigh, in reply to that of Lad
Hobart, relating to maritime capture. His lordship says:
" If hostile operations are to consist merely in a gls&•
tonal contest between armies and navies. unless some yell
extrarirdinary success were to follow the arms of one side,
wars might last for a long period, merchants would profit
by war prices, and would soon find it their interest to pro
long rather than to terminate a war, if only their cornmeal
were held inviolate. As to the argument employed by
Lord Hobart, and by many others, that, as we hove the
greatest commercial navy, we should, therefore, be the
greatest sufferers, I do not see that ought to weigh mot
than it did in former times, when we so jealously defendelow
right of maritime search and capture against the whole world
in 1786. We have still a greater number of wooden vessels
adapted to the work of cruisers than any other country,
and England, I trust, is not so enervated that she cannot
defend her own commerce. Beside% I hold it a sufgriest
answer that Lord Stanley, in his reply to Mr. Mill, wooed
to take it for granted that, in case of a serious wit
England would ignore the provisions of the Declarations'
Paris, and revert to her ancient custom of seizure.
Would it not, therefore, be far more consonant to dis
honour and dignity of England toreeede now. deliberately,
from her false position, instead of waiting till she ls
driven rudely to violate her pledges by self interest? I
think it cannot be too clearly insisted on that iu s magi.
tutionally-governed country like this every nl.Oll oughts
have a personal interest as well as a voice in the PO,
questions of peace or war. War should never be asto
except in the last resort, and then only in a just cause, it
which ease all means are lawful to be tried for the end le
view—viz— the conquest of the enemy. if commerce SW
be unchecked except by blockades, which must beef
five, bow case all dames have an equal interest at .tau.
But some will urge the 'horrors of war,' which ought •
be mitigated as much as possible. For what reason, tar
I ask, are we multiplying engines of destruction, elsoef',n
render war so horrible that none will lightly movok' "'
Mr. Mill has, I think, most properly urged the rico is.
portant points :—First, that, by acceding to the doriripes
Lid down in the Declaration of Paris, all essentially a, vet
powers are reduced to the level of military 1 0"", sad
shorn of their peculiar advantages. Second, that. in ems
of a war, say between England and France, id: the Ir,ski
sailors would flock to those neutral power. a 6051' arty
trade would then be inviolate, and we shoui.i in s on.in
time find ourselves incapable of mooning Cur urine,
since few men will prefer a hazardous emplm went whet
their lives are endongcnoil to • remunerative eugoVia4ll
where they are safe.
FRIGHTFUL FALL FROM A RAILWAY linrou•-•
On Sunday night last • number of youths were 0301
the Midland Railway bridge at Nottingham, when one
them, named Nathaniel Needham, who had climbed to
tM
to of the bridge, was seen suddenly to !nixs his hold id
fan on the iron lines below. The poor lAA's skull INS
smashed by the violence of the fall, and hie brvin
Pp
truded. He was instantly taken to the Ventral florr3"
bat expired in • few minutes.