The Express.
London, England, 1866-01-25 00:00:00

GREAT EASTZEN RAILWALL—(TRI3 DALY.)
---•
A special general meeting of the proprietors was
held to-day at the London Tavern to receive the report of
the committee of investigation and to elect five directors
in the room of Ave who have resigned. The chair was
taut at noon by Mr. J. GOODSON. M.P. The meeting was
exceedingly numerous, the largest room in the building
being densely wooded. Mr. Goodson and the other direr.
teas on entering the room were received with mingled

SHARE LISTS.--(THIS DAY.)

Ora 04:hoax.
The railway market is dull to-day, with few
transactions. Lancashire and Yorkshire stock has tali
declined 1 per cent, and Great Western, London 1,41
and North Western, and Midland, 1. Great
Northern A, however, continua in demand, and
shows a fresh rise of 1 per cent. to
London and North Western stock is now sal
quoted 1254 to ; Great Western, 581 to 591 ; C
Midland, 1224 to ; Lancashire and Yorkshire, 141,
1211 to 1221 ; Soutk Eastern, 74 to ; Great Ei
Esatern, 38i to 1 ; Caledonian, 128 to 129 ;
Great Northern, 127 to 128 ; ditto A, 1451 to
146 i ; and Metropolitan, 1351 to 1.
Canadian railway securities are firm to-day, at goi
the closing prices of yesterday. is
tiPiLDLNABY SHAM AND STOCKS. TS
I ?id umwin. woes I Wes So-day
yesterday. I Se Pao

alli

ahem and hisses.
The fissammiv (Yr. Owen) having read the notice con.
eosins the meeting,
The OL•IMAX observed that at the meeting held on the
13111 of bet month he announced his intention to retire

from the cludzmanship, and be now presided at the request
of the committee of investigation. He still intended to
retire, but would offer himself for re-election. (Hear.)
The report of the committee of investigation which
had bean issued and published some time before, in
accordance with the loudly-expressed wish of the meet-
ing was then read by the secretary, the reading being
attended with frequent ebullitions of feeling on the
part of the meeting. The determination of the committee ,
not to publish the evideooe on the ground that it would be
detrimental to the interests of the company and interfere fu,
with pending negotiations elicited marked expressions of 60
displeasure, responded to bye oonnter demonstration. 10
Mr. Tonna, chairman of the committee of investigation, ite•
moved that the report be received, reserving, as he said, 100
"
his remarks till a later period in the day.
The motion having been seconded, dt.
Dr. (Miami/ strongly oondemned the conduct of the et.
direatme, who he said bad damaged the interests of the at.
shareholders by devoting their attention to schemes of at
t..
and deserved three months on the treadmill. .."*.
(Laughter.) He contended that there ought to be more a
Meal men on the board, and no mumbles of parliament. at.
Above all there should be no engineers on it and no stock- at.
jobbers, but men whe wouldstudy only the interests of the 92.
shareholders and aim at 1103•019i011i ssanagentent. at.
Mr. Cane Leone whited to know whether or sot it was Irs:
the intention of the gentlemen who represented the at.
Northern and Eastern and the East Anglian Companies to ge,.
bow to the wish of the shareholders. (Hear, hear.) The at.
vote of the list meeting applied to the whole board. They
et`
treated, in future, men who would look solely to the into-
rests of the shareholders, and the men to whom he had
alluded belonged to the old leaven. (Cheers.) ah
Mr. SIMPSON, chairman of the East Anglian directors, es„
had so hesitation in answering the question. At the time
when the amalgamation between the East Anglian and EL
Eastern Counties Companies took plain it was under- St
deed that there was a difference of iotereste ;
but he wished bygones to be bygones. Their in- ik
tereste were; now: identical, but it ought to be un- 100
derstood that the East Anglian directors were not elected no
by or responsible to the shareholders generally, and if they 9
resigned they would no doubt be ague returned. Linhap-
pity there had been a number of coollictieg monarchies ; 114.'
they were now reaping some of the fruits, and he reoom- et.
mended the shareholders to apply their minds solely to the sc.
improvement of their property. The East Anglian dime- 26
tors would do what they ought to do, and let not the St.
meeting by needless quarrels damage the common interest. St..
The directors ought not to be condemned before they had It
seen the indictment or the evidence on which it was founded. is,
Colonel PALMER (another director) said he would now et„,
repeat what he said before that although he was sent there 10
by
.the Northern and Eastero Board, he had no wish to re. SI. 10
main there in opposition to the wishes of the majority.
Mr. J. F. REV:WOOS thought the committee ought to rt..
have given information with regard to the financial position at.
of the company. (Oh, ob.) They would never know how bk,
to deal with their difficulties if they were kept in the dark. SG
(Hear, hear.) St.
Mr. JARDINE said the grand object of that meeting was 9e.
to appoint new directors, and he should like to hear
from the solicitor what were the powers in that respect. 10
Giving Captain Jerrie full credit for having caused the dis et
-
covery of all that had emus out, he should have admired u
that gentleman, as well as Mr. Jocelyn, much more e
if he had retired from the board. Without the resig-
nation of the directors the labours of the com-
mittee of investigation would have been in vain.
They had suffered too much to let bygones be bygone,.
(Cheers.) It had been stated in the Times that an addi-
tional expenditure of 67,0001- took place in the last year.
He wanted to know how much money had been spent by the
foolish and unequal contest with the Great Northern Com-
pany, and also to know what had been done with the money ~
given to Mr. Sinclair, and whether there were vouchers for
it. (Hear, hear.) Let them take care to place on the board at
men who would be sure to promote economy, and then al
the poor, shareholders' hearts would be made glad and the it
widow sing.
Mr. 0H515113 said deeply as he felt indebted to the „,91
committee, he regretted that their report did not contain r(
fade which it was important to the shareholders to know. u
(Haar, hear.) Unhappily the committee, instead of oar. It
vying out the trust confided to them, had exercised their
discretion by withholding mist important information. '
y,
(" No, no.") He should have liked to know something
more about the agreement with the Great Northern r(
Company. In the exercise of their own opinion they had t,
altogether disregarded the wishes of the shareholders.
(Loud expressions of dissent.)
Mr. J. Famr.s, M.P., considered the question of the
notion of directors quite irrelevant. As to the agree-
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meet Jed referred 'to, having made himself acquainted ;
with the terms, he most say that he never saw
interests better protected than those of the Great
Eastern Company were in that agreement. (Hear, t
hear.) Whoever negotiated the terms on the part of that
company they did him great credit. They were to have the
option of becoming part owners of a line from March to
Doncaster, and if they did not assume that position they E
were to have the use of it for a payment of 5 per cent.
Moreover, they were to have unrestricted access
to the Manchester, Sheffield, and Lincolnshire line,
to the South Yorkshire coalfield, and to Sheffield,
Manchester. and other towns. (Interruptions, and cries of
"No details.") They were in fact to have running powers
over the whole system of the Great Northern, the Men.
cheater. Sheffield, and Lincolnshire, and the Lancashire and
Yorkshire systems. (Hear, bear.) Adverting to the para.
graph is the report of the committee, he said it I
was easy to destroy but difficult to build up, and
he hoped the report would not be adopted to
such an extent as to imperil the agreement with the
Great Northern company, on which the whole future of
the Great Eastern line depended. (Hear, hear.) What-
ever directors might be appointed, let them stick to this
agreement in their own interest. If it were repudiated
they would never get another equally favourable to them-
selves.
Mr. SHAW, a director, remarked that the committee had
in fact condemned the agreement by recommending its Im-
passion. He agreed with Mr. Fildes that if the agreement
were not carried out there would be great difficulty in
arriving at another settlement. He would, therefore,
suggest to Mr. Turner that he should amend his
resolution by putting it in the following form :
"That the report of the committee of investigation now
read be received and entered on the minutes." (Hear, hear.)
Without that the meeting might place itself in opposition
to its own interests.
Mr. FILDES supported the suggestion.
In reply to a question from Mr. H.rtridge,
The CHAIRMAN said the evidence taken by the committee
of investigation had not been submitted to the board.
Mr. HARTRIDOZ remarked that the committee seemed
to have arrived at but one conclusion—namely, that they
should take the seats now occupied by other persans.
(Laughter.) He moved that the evidence be printed and
circulated, and that the meeting be adjourned. (Cheers,
and cries of "Oh, oh.") He understood that the committee
were willing to produce the evidence to-day. (Hear, hear.)
Mr. HoitAno LOVE referred to the circumstances oon-
meted with his resignation of the chairmanship of the
board, consequent on a resolution of the majority which
he considered required him to take that step.
As regarded the report of the committee, be had had some
sxpenence in matters of that kind. (A voice—" In cook-
ing the accounts," followed by cheers and laughter.) He
hoped that he should be treated as an Englishman, and
that the meeting would notallow him to beheueded down by
a man who did not hold 101. in the concern. As respected
the adoption of the report be warned the meeting against
taking a course which they would be sure to repent
(Hear, hear.) The Great Northern agreement was the
redeeming point in the character of the company, and yet
they were asked to set it 'side. (No, no.) That was ao.
The prolonged inquiry of the committee had, too, produced
a disastrous effect on the financial condition of the company.
(No, no.) In conclusion be urged the shareholders to
obtain further information and not to decide blindly.

cheers.)
00local Wimarnow implored the committee as well as the
meeting not to be hasty. (Hear.) Lott the report first
be laid before the proprietors, let the directors if
they pleased reply, and let the proprietors then decide.
The adoption of the report would be simply the prolonga-
tion of a ruinous contest. (Cheers.)
Mr. Laura suggested the adjournment of the meeting for
a mouth. (" No, ao," had load cries of " Turner.")
Mr. nature thee addreseed the meeting. He defended
the non-publicetiou of the report, oerests of n the ground thatcoin it
would have been agaithe int.
When that report was before the share.
panholders he should be happy to retire from
Great Hester° affairs. The company wu in a deplorable
state, bet not a hopeless one. He was an advocate for the
Great Northern &Ilium. He liked the priaciple, but he hated
the terms. Ueda: the agreementthey were toe peed 1.600,00 M,
and in order to obtain a fair return they must have a
traffic of 6,0001. a week. Whore was that to come from?
He could not, consistently with his views, take a seat at
the board if the agreement with the Great Northern Cora-
pony was °manned. He then referred to the halo on some
of the existing lines of the company to show that they yielded
no profit. The committee would not be responsible for the
publication of the report, and they deliberately recom•
mended the meeting not to ask for it. If, after that
warning, the shareholders would gratify their curiosity, on
1 them would rest the responsibility. not on the committee.
(Hear. bear.)
In reoy to a quake train Mr. Levis,
The CL mid the desire of the board wax that the
vaeanelee in the board should be filled np, and that the
meeting eboeld be adjourned in coder that the directors
might have an opportunity of replying to the report of the
oonnoltiee.
' [The mailbag wee pecoseding when ear report lent]

THE EXPRESS, THURSDAY EVENING, JANUARY 25, 1866.