The Express.
London, England, 1866-11-14 00:00:00

LATEST SPORTING INTELLIGENCE

(sr nacrriva TIZZOIWIL)
SHREWSBURY SING.—{THIS DAY.)

COLUMN HANDICAP. One mile and a quarter.
°Omer, Winfrey, Sa!pinatas, Raglan, Pearl Diver,
Weatwick, Brick, Special, Jollity, Nu, Life Guardsman,
Nukubeva, Kingsley, Belmont, Marco Spada, Vigorous,
Cranford, Diadem, and Capnae are here.
PAID FORFLIT.—King Charming, Skirmish, Mim Har-
riette. and Bemiring.
MONKMOOR HANDICAP. Half a mile.
Cranbury, Queen of Trumps, Salliet, Bowie, Kilkenny,
Lady Valentina, Ulphua, Spokesman, Stabber, Queen of
the Bark, Icicle, Naiad, Ratty, Monahoir, Lady Pam, Miss
Fanny, Topsail a, Ida, and Stud. All are here.
PAID PORFZlT.—Belgr&ve, Tragedy, and Qui Vie.
WYNNSTAY WELTER CUP. Three quarters of a nine.
Samharometer, Ostesger, Whitby, Confederate, Wild
Agnes, Arkansas, Cranford, Nukuheva, Stiff, and Kenil-
worth are here.

HURDLE RICE. Two miles and a quarter.
Shakespeare, Clown, Joker, Foxholes, Reuben, and Dean
Swift are here.

ENTRIES FOR ANGLESEY PLATE. 111
Moonbeam, eet 121 b ; All in Dark, Out 71b ; Longbow c,■
Out 7lb ; Searikos, 74 121 b ; Prodigal, let 10Ib ; Freemason,
7st 7lb ; Thermometer, Tat 71b ; Columbine, let 71b ; g
Gipsy Queen, 7st 71b ; 74 61b ; King of Fairies, 14
let 61b ; Amanda colt, let 41b ; PhantomiSail, 7st 2113 ;
Mouchoir, let; Mies Fanny, 7st ; Canard, 7st ; Cawood !!
filly, Out 9115; Greenback, bet 41b ; Changeable, fist ; Verdi, •
Est; Vice Vern, 6st ; Archers filly, est ; Blondell filly,
fist 101 b ; Venom, est IMb ; Tarazippna, list 7lb. All are
here.

ENTRY FOR HANDICAP. Half a mile.
Ulphus, Sat 7lb ; Venturer, Set ; Double Stout, 7st 1011;
Belmont, 7st 101 b ; Thalambas, 7st 101 b ; Prodigal, let 41b ;
Lady Pam, 7st 41b ; Verdi, 7st 31b ; Amanda o, let 21b ;
King of the Fairies, Est 121 b ; Verdi, Est 611). All are
here.

ENTRY HANDICAP. Half • mile.
Queen of Trumps get 31b ; Usher, Bst ; Lady Valentine,
7st 12lb ; Blackbird, 7st 41b ; Tragedy, 7st 21b; Queen of
the Isles, let 21b ; Thalassius, 7st ; Naiad, 6st 131 b ;
Thermometer, Est 51b ; Cromwell Gat ; Queen of the East,
Est ; Overtonian, Gat ; Doralice filly, Est. All are here.
ARRIVED. —Reinfred, Tumult, and Jeannie Deane.

SMITH, KNIGHT, AND COMPANY (LIMITED). I(
(THIS DAY.) u
1,

The half-yearly meeting of the shareholders was
held at 1 o'clock, at the Loudon Tavern, Mr. T. CAVE,
BLP., in the chair, " for the purpose of considering the
expediency of winding-up the company voluntarily, and of
taking the necessary proceedings to bring such winding-up
under the supervision of the Court of Chancery."
The CHAIRMAN in moving • resolution in accordance with
the notice, proceeded to give a history of the company
from the period when be joined the direction in October,
1865. He said the board bad kept steadily in view a set-
tlement of the company's affairs with the least pos-
sible Ices. Their first efforts were directed to the
obtaining time from the creditors; in this object they sue- U
ceeded, and from that moment to this they had had no
serious difference with the committee of creditors.
This agreement was partly owing so their selection of 3
the solicitors of the creditors, namely, Messrs. Ashurst g
and Morris. On the 30th of April, at • meeting of the Si
shareholders, the board reported that they expected to RI
receive 1655000/. on account of the Sardinian Railway ;
but, unfortunately, the late war prevented the Italian •,
government from carrying out its intention. There ;
were other sources of pecuniary weakness, among which
were retentions of 10 per cent. temporarily on account of
the contracts. At the present moment the Mexican Railway
Company owed them 55,000/., and they were prepared to
hand over to them that amount in 8 per cent. bonds.
At the moment when they appeared in the Court of Chan-
cery they had obtained from some of the largest creditors
their consent to sign • document setting the shareholders
free from calls, in consequence of its having been made
plain to them that it would be useless to make calls ; the
board undertaking that the company should hand over all
the assets to the creditors. Unfortunately Mr. King in-
stituted proceedings which were much to be regretted, and
which led some of the creditors to refuse to sign ;
but he still hoped the creditors would see that the
course proposed would be the best for their interests. An
official liquidation meant an immediate call of 30/. per
share. The available assets were very small indeed. An
official liquidator, coming into the position of the board,
would not think of borrowing money to carry on
contracts, and the directors were unanimously of
opinion that an official liquidation would involve
lan immediate call of 30/. per share, so as to
realise a small cash dividend. On the other hand a
voluntary liquidation simply meant a continuation of
the quiet mutual realisation whit had hitherto been
going on. lie was happy to say that the creditors had
consented to the appointment for that purpose of a coin-
mittee consisting equally of creditors and shareholders,
and he believed that would be best for both parties.
Mr. King had suggested that there should be a public
accountant associated with the liquidators, and the board
proposed that Mr. John Young, of the firm of Coleman,
Turquand, and Young should be appointed. (Cheers.)
Mr. Thom esoN, in seconding the resolution, expressed
his deep regret at the course pursued by Mr. King in oppo-
sition to the directors.
In replying to a question as to when the contracts
were likely to be completed,
The CHAIRMAN mentioned several cases in which works
were completed or nearly completed, and observed that
when the Imperial Mexican Railway was finished tho com-
pany would have to receive 230,0001.
In reply to a further question,
The CHAIRMAN said the total amount received for mills
up to the present time was 129,000/., exclusive of the first
payment of 5/. per share.
A Sul iiiellot.Des—How much is owing?
The CHAIRMAN—About 170,000/.
The Siiaitenotiieu—ls that good?
The CHAIRMAN—No.
ASH REHoLDER—Has Mr. King paid his calls? (Hear.)
The CHAIRMAN replied in the negative, adding that Mr.
King was protected by the Court of Chancery, and that
the solicitors had done ell in their power to enforce the
payment of the calls generally when overdue.
A SHAREHOLDER inquired why shares in arrear upon
which payment could not be obtained had not been for-
feited.
The CHAIRMAN observed that the creditors would not
allow the forfeiture.
The SHAREH4 4.1,ER could not 'understand that, as under
the articles of association, even if shares had been for-
feited, a call could still be enforced.
The CHAIRMAN remarked that that was true, but the
parties would not be liable fur any future call.
Mr Kist; expressed surprise that none of the directors
bad rised to reply to his published statements respecting
the origin of the company, which he must, therefore,
assume to be true.
(The meeting was proceeding when our report left.]

WEATHER REPORT.-(THIS DAY.'

WEDNESDAY, NOYEIDER 14, 8 A.Y.

H. 'l'. 1 W.

f.
14 Y.