The Express.
London, England, 1866-06-11 00:00:00

OVERBND, GURNEY, AND poloist
(THIS DAY.)

This day an extraordinary general laseti,„
shareholders of Overend, Gurney, sad Coniasay.
st the London Tavern, to consider the offehe of tho
Plualt• _ _

. d. H. GURNEY, who was appointed elminma
vote of the shareholders, said he regretted GM thy h.,
not met under more favourable circumstaares—sssir
steams which they not only earnestly hoped, tst
they confidently believed would be the riremastaasit
which this mooting would take plan. At th these%
formation of the new company they found, tits tedomi
weeks of sesiduous labour, that as mattes Mae ow
there was snob property in the business, and s-:1
It, aa rendered the guarantee amply ing44
cover any losses or contingencies that caddie Moot
against it. This expectation the event most lost,
ably &mounted—frustrated, he might my, to is ski

which altogether took by surprise the partisan of
firm. There were some items upon which dwo
culation had beau too sanguine. 'rho:, woo -7
other items, the loss upon which was
about by the continuous depreciation et
which culminated in the final steppep d." 2
company. There were entirely new losses uma
and bills taken over under the guarantee of the
which together with the loss of interest during aiy
produced the deficiency which they had to joasit7
the time of the formation of the new 4
the minimum rate of discount existed art yes
of England, and they had no reason to approbate, tio
which subsequently ensued from the very high
tercet which afterwards existed. With regard to gm";
given for the goodwill of the business, it vas trot tit
the late firm embarked in certain transactions
out of the legitimate line of discount banana soi it
transactions though productive of great spoors" NI
subsequently resulted in very heavy loss. Times tow
actions did not to any material extent infidel oik
the sound regular business carried oa Ist
years by the firm, and which if odWor;
would have avoided these losses to which he slMis h
was to preserve that regular and lucrative Woo
that the new company was formed. illciedise
irregular class of business, and taking .4,
sideration the regular and lucrative beam w.
it appeared to them that 500,0001. in rather under Wow
two and a half years were the regular profits of throw
puny. Of the 500,0001., one half was to be paid in ma*
the other half was to be taken in shares of the we 00,
piny. The moiety remaining unpaid at the posy
the stoppage was on 8,300 shares. With mpg
liquidation of the old company, it was a fair Bettis.
how far there was • reasonable expectation of Oat harp
being satisfactorily carried out during the yergood
liquidation. The deposits turned over were 5,40 g
The capital, which was shortly paid up, MS Let*
besides the good will. Therefore the cakulatios dth
directors was that if any ordinary times bad atm*
the lock-up of 3,000,0001. could be safely earned gOse
capital and deposits of 6,000,000/., bearing is raindthilij
believed the lock-up would be of a temporary drain
that it would be rapidly reduced and run off Mikis
years. His belief was that if the times bad all Wad
against the liquidation, it would have bees Istishelek
carried out. When the shares fell the deposits wen Niel
to en amount which made the lock-up inconvesient al
finally fatal. With regard to the stopper, it mean emend
by the directors that it would take place shortly Winn
occurred. It might be asked why ha ehy sat
make • call to meet the liabilities that they be,
were pressing. They did consider that questios shei la
days before the stoppage took place ; but they month
conclusion that if a call was made, dm* te
the amount received upon the call would be widhen,
The chairman concluded his statement with halter
from the meeting.
Mr. RENNIE, one of the new directors, Asia the dk
oumstanoes under which the company wee forest; al
this also gave satisfaction.
Mr. HAWING, the accountant, stated the psitin
the company last Saturday. There were 208,431. hth
bank. Since the 10th of May, the date of the AM*
the liabilities had been reduced by bills paid a
4,600,0001. (Loud cheers.) The amount of bills risked
unpaid subsequent to the stoppage was 846,9331. lb.
id
He had gone through the rest of those bills sad bees
sidered that a considerable pot :ion of them would be pi
within a reasonable time. lie estimated that the sand
of liabilities paid between the present time and the tad
August next would be 8,353,9041. 1 ls. 7d. After the ES
August there would be left 1,343,528/. Hs., so tit a
that day they would know the actual ponies d
the company. The estimated value of the mum
was 1,250,000/. for which the joint and several cal d
the old firm were liable. (Hear, hear.)
Mr. JONES, the solicitor, stated that every peel
realised upon these estates had been carried to the mil
of the company.
Mr. LAWRENCE moved that as the company onkl
by reason of its liabilities continue its When
advisable to wind up the same voluntarily. (Hen, 104
[The proceedings were going on when we weld lama)

- - -
THE EXTRAORDINARY ACCIDENT 01 TS
GREAT NORTHERN RAILWAY.

LATEST PARTICULARS.—(THIS DAT.)
Up to twelve o'clock to-day no official invegiP
tion into the causes of the above accident had takesibie
but the railway authorities appear unanimous in tfil n!)
Mon that the melancholy fate of the guard gly 5$
occasion of the catastrophe in the first instance, sal s
seems tolerably clear that after the second train anal*
tunnel, there was not sufficient time to signal the doe
before the " up" goods darted in. It is said that Kamen
three minutes elapsed between the entrance of the nag
train and the third train coining into collision ;
distance to travel to the mouth of the tunnel was tO3
hr
to admit of communication with the Sim-man. Deg
the whole of last night and to-day the tnnael Min
the accident occurred presented a busy seene-me
ben of men being engaged in clearing
the fragments of the wreck, and it is the opining el lit
Cockshott, the superintendent, and Mr. Johasce,
tk
engineer, who have been personally giving instrallM't
that one line will at least be ready in the coursed ds MI
to work the traffic. Only six or seven of the carrierolai
"up" Northern train were thrown off the line; and Iseil;lbl
guard, appears to have received but slight injuries 111
was not even thrown from his van ; and with the a*
tion of the fatality attendin; Ray and his union.°
ocnnpanions, there was no other case of permaalol
The loss to the company will, of course be very ran.

-----
The Marquis of Clanricardo, Viscount Borne,
M.P., and Sir C. Wentworth Dilke, M.P., were Peretd
by indisposition from attending the dinner
Newspaper Press Fund, on Saturday evening.
Hon. W. MonseU, M.P., who had also promised to sew,
was unavoidably absent. A list of the principal dosea.al
will shortly be published.
Sir E. Landsoer writes to the Times deftedilg
the proposal to send the National Gallery off to SD
ton,and to reserve Trafalgar.square for the Royal gcsgel.
The remains of the six persons lost in the
big
fire at Dublin were dug out of the ruins yesterg..ol
one of them could be identified. The others were b elle'
and mutilated. Bitter and general indignatios
pressed with regard to the mismanagement and Or:
that led to the catastrophe. Had the fire-eseePe
order the lives must have been saved ; or if thee IP'
been a proper supply of ropes, and ordinary
rn
and activity displayed by those whose duty it was tow-
affairs, this sad calamity, it is believed, might Wel.
I averted.
Some idea of the extent to which " beeriali" big
been carried on in the Stock Exchange may be forniedf_l:
• the fact that notices are posted for buying in 411"1,M
the sellers, for non-delivery, in no less than 04
companies.
I During this month 33 large mail pack ti
leave or arrive at the port of Southampton.
tabli4.l
Of ad"—
ber 19 are to or from New York.
A fishing association is about to beis ote
at Dartmouth, in Devonshire. The capital 10,
• 61. shares. .-00
MISSIONARY ORDINATION.—(TRis thef.p.
morning the Right Rev. Dr. George Smith, lele BON
I Victoria, Hong Kong, held an ordination in
feell
0
Church, St. blarylsbone under a commission ._,%
' Bishop of London. Thirteen gentlemen—all of tbas
the Church Missionary College at Islingeol-ril fob
sented by the Rev. William Samuel Suihn'
low of Trinity College, Cambridge, and thew Rev.
Long, M.A., incumbent of St. Simon's rch
pet
• I Chelan, and were admitted into holy orders.
was preached by the Rev. William Cadman.