The Express.
London, England, 1867-06-13 00:00:00

SOUTII-EASTERN RAILWAY.-(THIS DAY).

The adjourned special meeting of shareholders
was held at noon, at the London-brulge Terminus ; Mr. E.
W.WATAIN, M.P., in the chair.. . •

The eHAHtMAN said they had met to consider a matter
of bombe-as left over from the let special meeting, namely,
the propriety of dividing the onlinary stock of the company
into two classes, viz., a preferred and a deferred stock.
The ordinary capital of company was 7,600,008., and
they had power under the Capital Bill of last erasion
to raise that amount to 8,000.000 i., and the question
was this—was it desirable to divide the 8,000,000/. into
4,000,00 W. of preference stock, to receive ?I or G per cent.
per annum before the deferred 4,000,0001. took interest in
the shape of dividend? He had already explained at the
half-yearly meeting anal at the special meeting a month
since what were the advantages of so dividing the stock,
but his object to-day was rather to have a con-
versational and friendly diacunion relative to the
whole matter, and to hear the opinions of
the shareholders, than to pars any resolution.
He would prefer dispeaing of the question to-day ; but,
considering the armdl number of the shareholders present
and the importance of the subject to be discussed, he
thought it would be better to adjourn it fur the considera-
tion of the half-yearly meeting, when they usually
had a large attendance of proprietors. It was not
a question that pressed, but rather one respect-
ing the future financial policy of the company.
He should, therefore wove, " That the decision
on the question of dividing the ordinary stock into pre-
ferred and deferred portions, be taken at the next hall-
yearly meeting."
The lion. Mr. IlvNo seconded the resolution, and it was
carried unanimously.
In reply to Mr. THOMAS
. .

The 6WAIRMAN said the directors came to a conclusion
with reference to certain heads of agreement, and those
were signed by three of his colleagues and by three dime-
ter, of the Brighton board. Since then a great many
meetings had taken place between parties repre-
senting the Brighton and the South Eastern Com-
pany with the view of filling in all the details
which the heads would require to make a complete
and comprehensive agreement. Their next appointment
was for this afternoon and he had strong hopes they
should be able to complete the whole matter in a work-
manlike way, awl bring it before the shareholdere in a
very few weeks. He was bound to say they had been met
very fairly by the gentlemen of the Brighton board, and
the discussion bad been of that character that they would
come to a satisfactory conclusion, such as would benefit
all railway property.
In reply to Mr. FILDE-9, M.P.,
The CHAIRMAN said the proposed amalgamation with
the Brighton Company was not an amalgamation of capital
and liabilities. The scheme simply involved a division of
the net profits of the undertakings on the North Eastern
principle.
A SHAREHOLDER said he supposed it would strengthen
their capital.
Mr. itimus hoped the agreement would be different
from " the Chatham " agreement.
The CHAIRMAN said he hoped it would be an agree-
ment in every way for the interests of the South Eastern
proprietora He did not think it was discreet to enter into
a discuesiou such as might result from Mr. Adams's remark,
and he reminded the shareholders that it was easy just now
"to throw bitterness into the cup." He sincerely hoped
and believed that the agreement would be permanently to
the advantage of both parties, and be was quite certain
that as it would be laid before them, and they were men
of business, it would not be adopted unless it wet found
to be satisfactory.
The proceedings then terminated.

The annual meeting of the Yorkshire Union of
Mechanics' Institutes was held at Caatleford yesterday.
The proceedings commenced with the usual conference of
the union, under the presidency of Mr. Baines, M.P.,
when Mr. James Kitson, jun., read a paper upon the Paris
Exhibition and the industrial progress of England, and an
interesting discussion upon the subject took place. A
public meeting was held in the evening, presided over by
Lord Houghton, who spoke at considerable length upon
the educational aspect of the Paris Exhibition. Lord
Frederick Cavendish, M.P., Mr. Holden, M.P., Mr.
Baines, M.P., and other gentlemen, also took part in the
proceedings.

A deplorable accident has just taken place at
Ems. Count de Kielmansegge and his wife were taking a
drive in the neighbourhood, when the horses, startled by
a cart, became unmanageable, and dashed off at a furious
rate. They at last came with great violence against
wall. The Count was thrown from his scat, and, inhaling,
received so severe a wound on the head that he died on the
following night. The countess sustained no injury, but
the carriage was broken to pieces and the horses killed.

The New York Board of Emigration Commis-
sioneis report that from the beginning of the year to May
29, 82,g02 immigrants have arrived from Europe at New
York, as compared with 82,99:3 during the same period
last year. The arrivals now average nearly 10,000 a week.

The scarcity of vegetables has been severely felt
by poor people. A large quantity of the commonest kinds
of vegetables have been exported from France to England,
which is an unusual circumstance. A few days ago 1,400
sugar loaf cabbages were landed at Guernsey from France.
Some of them weighed 1411 m. They were rapidly sold at
3d. and 4d. each.

Tenpenny, two-shilling, and five-shilling postage
stamps will shortly be issued by the government—the ten-
penny ones are of a light brown colour, the two-shilling
ones of a light blue colour, and the five-shilling ones of a
light pink colour. The five shilling ones will be much
larger than any hitherto issued. The postage stamps in
circulation will shortly be respectively of the value of Id.,
2d., 3d., 4d., GI, 9d., 101, la, 25., and ss.
DEATH OP THE OLDEST RAILWAY SOLICITOR Is
THE RIHDDOM.—OD Tuesday night, Mr. Francis Mewburn,
of Larchfield, Darlington, died at the ripe are of eighty-
two. The deceased gentleman was well known throughout
the north of England as a solicitor of large practice, and
more especially as the solicitor till within the last five or
six years of the Stockton and Darlington Railway, at which
period he retired altogether from practice. He was the
oldest railway solicitor in the kingdom, baring applied for
and obtained the act for the construction of the Stockton
and Darlington Railway. He was early associated with
Stephenson, whose genius as an engineer had its develop-
ment in connection with this line of railway. To Mr.
Mewburn's care was also entrusted the parliamentary
business in connexion with other acts for extensions or
which have subsequently been obtained. Mr. Mewbnrn
has also for many years held the office of chief bailiff of
Darlington, every ancient one, ant be stood in the place of
Mayor in connexion with public objects as the representa-
tive of the town, the calling of public meeting*, &c. It is
expected, however, that a successor to the office will not
be appointed in view of the approaching incorporation of
the town. Mr. Mewburn's funeral, which takes place on
fiaturdag, will probably be a public one.—Leeds Mercury.