The Express.
London, England, 1867-11-25 00:00:00

TIIR GREAT WESTERN RAILWAY.

The following official circular has been addressed
to the shareholders in the Great Western Railway :
"Paddington Station, Nov. 21, 1867.
" Sir,—l em instructed by the directors to inform you,
that on the application of a shareholder in the Vale of
Reath Section, his Honour the Vice-Chancellor Wood has
this day granted an intermediate injunction in a cause of
Hooter v. The Great Western Railway Company, restrain-
ing the issue of any further amount of Gt. per cent. pre-
ference stock, or V. 10s. per cent. debenture stock, in pay-
ment of dividends, until the hearing of that cause. In
giving you this intimation, the directors think it right to
explium the nature and position of the matter in question.
Mr. Hoole, the plaintiff in the cause, filed his bill in the
court of Vioe.Chancellor Wood on the 7th of September
last, praying for a declaration by the court—that the Logue
of stock in payment of dividends was illegal—for the can-
cellation of the stock already issued—and for an injunc-
tion to restrain the company from paying dividends on
'what had been so issued and from soaking any further
iuue ; and he gave notice of a motion before the vacation
judge for an intermediate injunction to that effect.
tinder the advice of counsel the company demurred to the
bill on various grounds ; and on the 26th of September the
demurrer and the motion came on for argument before Vice-
Chancellor Molina, who refused to interfere, leaving the
plaintiff to proceed with his cause, but at the same time
intimating his opinion that there was "no foundation of
justice in the bill." The case has now been argued before
Vice-Chancellor Wood, who has overruled the company's
demurrer, and required them to put in an answer
to the bill, so that the whole of the facts of the
ease may be tally before him. Hs has also, as above stated,
granted an intermediate injunction until the hearing of
the cause ; such injunction, however, being confined to
the issue es from this day of any further stock, but
not interfering with what has already been done.
Having regard to this conflict of opinion between two
eminent judges, and acting under the advice of their
counsel, the directors have determined to appeal from
this decision, having reason to believe that upon the
plaintiff's own showing, and apart from any answer which
the company may give, he has made out no sufficient
ground for the interference of the wart. Under these
circumstances, and until the question has been disposed of
by the proper tribunals, the directors will be unable to
take action in regard to any documents which have not
already been sent in to the office ; but it will be understood
that, in the event of the injunction being ultimately dis-
solved, and the company thus left free to act, the holders
of such documents will be placed es far as possible in the
same position as if those documents had been received in
the ordinary course.-1 am, sir, your obedient servant,
" Faso. G. akeNDILIIB. Secretary."

Wirrin Ciactrue. —The following is a list of the
winter circuit. of the judge, :—Maaebeeter, November 30;
Liverpool, December 11—Mr. Baron Martin and Mr. Jus-
tice Sbee. Warwick, November 30 ; Derby, December 6 ;
Chester, December 11 ; Stafford, December 16—Mr. Justice
Keating. Norfolk, December 3 ; Suffolk, December 7 ;
Lewes, December 12; Hertford, December 17- Mr. Justice
Wilke. Winchester, November 30; Taunton, December
7 ; Gloucester, December 13 ; Hereford, December 16 ;
Worcester, December 18—Mr. Justice Mellor. Durham,
December 2; Leads, Demeher 6 ; York, December 13—Mr.
Baron Pigott.