The Express.
London, England, 1867-08-30 00:00:00

CRYSTAL PALACR AND SOUTH LONDON •

✓UNCTION.

The tenth half-yearly general meeting of the
proprietors of this company was held yesterday after-
rooa at the offices' Winchester-street-buildings, London-
wall ; Mr. J. E. lAvEsorr-Gowia., chairman of the com-
pany, in the chair.
Tl,e report, which had been already published, was
taken ss read.

The CHAIRMAN, in moving its adoption, called the atten-
tion of the shareholders to the circumstance that sine
the lut meeting there had been an entire change in the
board of ;direction. Everyone of the old directors had
left—ihear, hear)—and the board which now managed
their affairs was altogether a new one. The old dim-tore
had retired because their increasing engagements pre-
vented their giving to the company the time which was
needed. From letters which he had received he had
gatheied that one of the subjects which had attracted
most attention was the settlement of the oontraetore'
accounts. Their solicitor had advised them that there were
no grounds upon which the company could enforce the
payment of the interest upon the B shares ; but he did not
think that individuals were precluded from claiming
against the estate of Mears. Peto, Betts, and Co., and he
rcco amended that the B shareholders should appoint a
committee to attend to the matter. Having since he
joiir-d the board inspected the line, he was convinced that
the works had been well executed, and he believed
there was no railway that was in better condition. Their
relations with the London, Chatham, and Dover Company
were in the same position as they were six months ago ;
but considering the high character of the gentlemen who
now formed the board of the latter company, he hoped
that they would be able to come to some aatiefactory
am angement. One of his correspondents had inquired
whether he thought that the company would
ever be able to pay anything upon the B shares.
This was of course a matter of opinion, but
for his own part he did not despair of receiving his divi-
dend upon his B shares, and he trusted that the A share-
holders would some day get a dividend. Thole anticipa-
tions he founded upon the tenacity with which the London,
Chatham, and Dover Company clung to the line, upon the
moderate cost of the railway, acid upon the position of
their terminus at the Cryste` Palace. Their position
there was perfectly unassailable. They occupied the
whole front of the Palace, and no other high level station
could ever be construetid. The directors were unable to
say what the London, Chatham' and Dover Company
made by the working of this line. They had twice
applied to the receivers appointed by the Court of Chan-
eery for the s mount, bat they bad not received it. In
conclusion he said he believed that with the support
of the shareholders the directors would be able to pima
the company in a much better position than that which it
oecr ned at present ; and be had no doubt that this would
be ore of the first comer= to derive benefit from that
re rival of railway enterprise which he trusted would soon
occur.
Mr. E. HINIBT seconded the motion.

After some diacussion, in tl-e course of which
Mr. MA1741111) mentioned that sorra of the bondholders
contemplated filing a bill in Chancery for the appointment
of a receiver, and
Mr. Horitam said that he believed that the loss upon
working the line during the last half•year was under 2,0001.,
The report and accounts were adopted, and the proceed-
ings terminated with a oordial vote of thanks to the chair-
man and directors