The Express.
London, England, 1867-08-16 00:00:00

GREAT 'ASTERN RAILWAY.

After the cloth of our report of the half-yearly
meeting yesterdily afternoon,
Mr. Wane wanted to know what was to be done with
the third million of the new capital if the Metropolitan
Ethendoe should be abandoned, and what if Mr. Lung
was paid 5,0001. for Ware be ought to have been paid
had he succeeded. (Laughter.)
Mr. Moss, M.P., who dwelt upon the importance of
the Great Northern agreement, remarked that in making it
they.thould take care they did not part with their own in-
dependence—(hear)--and urged that there should be •
dense inser requiring the ameet of the shareholders to
it previous to tatificedon. They had valuable London
termiiii, wad be Ws' anxious that they should not pad
with independent possesdon, or the right at admitting
other companies in future for the sake of some present
small profit. They had bad as yet no explanation of the
heads of the proposed agreement ; all he desired was thee
they should not, es a *sensory down in Leamehke bed
done, admit another company into • pert of its territery,
which afterwards might have hems sold at pest advent.
age. He agreed with pisvious speakers in the=
of reducing the number of directors, and r
that.Mr: Jocelyn, one of the retiring members by rotates,
but who had • Chenoery:ru ereetLarnst the company, lima
not be put forward for i
The Grumman, in reply, admitted the hardship to
which the ides Union Guaranteed shareholders were
subjected in not Tomblin their dividends in sash ; but as
to the Zest Amelia& alumeholdese, his arrangement with
Mr. Simpson., the gobeinien of that company, was, that he
should use his Munn to induce them to take the new
debenture stook In ps • tof their dividends, not that
they were to have aaah ; sad as to the Blackwell share-
holders, who had oho bees shaded to, if they were not
paid to they amid inks the line. With regard to the
Great Northern agreement, it would be submitted to the
shareholders -for their approval. There was • difference
between Mr. Laing sad tie members of the board as to
the Metropolitan Extension. Mr. Litgarre=
&Mounted to confiscator' as regarded the •
holders, whose interest he was sent to the boar to pro-
tect, that IxTsm/ being in effect to charge from
50,0001. to 75 spinet revenue,which for man years to
mum would Ave the only confiscated the div for
the ordinary- dsarehelders, but have interfered with
the preference dividends, and bad that proposal been
scospted he amid no haw have remained chairmen.
There had born an edema la the toles o• the line, but
not po great as upo• mime ether lines, because they were
previwuly meth team the maximum of charge than most
other lines. Me ens net aware thee pries were improperly
granted. Np oiler amid give • fee pass without its being
b:eught thedir the math of the directors. The extent to
which he dreaded free panes was that dime share-
holders whoassidsd an the line should have pares to sane
upend selend the gineval an He agreed that it
datable to reins* thwarter of directors, and
riie iitiewes. eft* thimmethis eugepodng the throe vacan-
t ter2a_Efe3 rip, when the hwl would amid of the
gather, 15—to re to his collsagnas that
=;1111 sonimities of lixamrinnehlarld hiaPPuifited
who should -be dime); respendble ft the wining of the
= eta r=rigmt°thtir acits:"Urador the tiof the
Court of tioneary the stores were provided and paid
faint of weekly receipts, so that they had all the
Mathison eldoelingwith ready money while by getting
their own elisers appointed by the court they myth about
90;0001. in commismon. The board had done their best
to reduce the woe expenses, and would continue to
act on the same prin le. The staff was being gradually
reduced without impairing its efficiency. Sines he had
been chairman he had never used proxies,
and never would, union the interests of the
company imperatively demanded it. The steamboat se-
omits showed that receipts in the half year,
June, 1885, were ; and in June, 1866, 4,1591. The
ressipts for goods were in June, 18641. 3,3381. ; in Juno,
1865 6,1001. ; ia June, 18136, 17,9001.; Led in Jane, 1867,
20,8601. The number of settle was in June 1865, 14537 •
and in Juno, 1817, it had, owing to the rinderporn, faller;
tall!, but they had now powers to run to Harlingen and
Gesstemunds, and as the diodes had deereseed, he antici-
pated that that Mang of the trade would speedily revive.
When they changed their solidi', they feud it necessary
to pay down • sues of massy before the bills of the former
no&itor were all sent in, whisk would aseeunt for the
charge nude the head of legal expenses. As to Mr.
I.lftg's remunerative, se he gathered such was the wish of
the thertholders, the nudism would be referred to arbi-
tration. In roped to •Wiel snow* the directin had
net incurred 15,0001. of addNtmsl charge since they had
been in olio* The screw "collier was • charge incurred by
the late, but for which the pressnimsnagennent bad to pay.
The Harwich pier was pct of the extension necessary for
esrrying on the continental trans. Every explanation as
to the salmi's of the cilia,' of the company
had bean given at • former meeting, sad it was un-
necessary to repeat it. Mr. Baxter, who had been before
Lord litedoedde, and knew all the olionnistanees ounnested
with Mr. Bromey's claim for the 40,0001.,. upon which his
lordship had siumadve,sed, would explain that matter.
He was eadous to We the fullest information in the
amounts, and would receive any suggestion for that
pre ve.e.
. _ _

-Hr. L. Snows, chairman of the Beet Anglian, said be.
had distinctly noted to the chairman that he could net
enter into any compact binding his shazaboklera to ae-
influen oe
any sten
to induce them to do in lieu of cash, bu
sot had promised to see his
-Mr. Bairn, the solicitor, gave an explanation in
reference to the 40,0001. allowed by Lord Reda-
dale as paid to Mr. Braley the effect of
which was that when in 1862 the Great Eastern
was under an obligation to make the Gamow lints, or, on
failure, were prohibited from paying dividends, Mr. Bras-
sily undertook to maks the Dampen lines en a schedule of
awes agreed to by him and the compel'''. miainser, M
I.
Sinclair, talcum the amount la shares and debentures. t
was thought the lines would eon 1110,0001. They were
finished ha autumn, but on the schedule of prices
upon the cod turned out to be 39,0001. odd the
amount elated. and this Mr. Bramey had also agreed to
take in genarenos shares. Them was an the slightest
ground or thi imputation thrown out by Lord Redeidale
that there had been something like a job between Mr.
Brassy and the directors, end so he believed Lord Beds-
dal*, when he same to know the real fans, would admit.
A SIWIIILIOLDIIII remarked that the DUJUZIOW Company
was Mr. Braley's.
I%e resolutions adopting the report were then put and
tarried almost unanimoualy.

Mr. Jainism's resointiOn Ina next pat, bat upon the
Chairman promising to wry oat the object u tar as he
mold do 00, it was withdrawn.

A tonal mohair wu pared authorising the directors
to euirere the reerowiag preen et the oragray is regard
to the debentures

41, bog dimmed= roused on the re-eleotioa of direc-
tor', and Mr. !suns urged that they should not re-elect
the candidates unless they had a pledge from them that
their re-election should net bee har to a tutors redac-
tion in the number of the hoard, and that they would re-
tire when required to does for that purpose.
Mr. Law gave the required pledge.
Jnomnr would at all these be ready to bow to the
wishes of the shareholders and Mr. Gorrosos, M.P., the
other maids* eve eim;ilar deshealies, and the elisi-
ons vie mairmsd. The audible. wen liewise rwarated.
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