The Express.
London, England, 1867-02-19 00:00:00

CREDIT FONCIER OF ENGLAND (LIMITED).

After our our report left yesterday,
51 i . CR %NT. M.P., who was received with cheering, Raid
the tone in which some of the ere bad spoken had
im given both h and his brother directors much disappoint-
ment, which they wished to express, but more in sorrow
than in anger. They had thought that if ever there was
a period when they deserved well of the proprietors, it was
now ; tbat if ever they had striven to conduct the affairs
with prudence, soundness, and integrity, it had been
during the past kalf-year ; and that if ever they had a
right to ask for a vote of confidence, it was at this peril.
cuter meeting. (Cheers.) The real meaning of the
resolutions which Mr. Culverwell intended to move
was this:—" That this meeting having found that,
by reason of the skill, ability, and judgment shown by the
directors in the management of the company's affairs dur-
ing a period of unparalleled difficulty, the capital remains
intact, and no losses have occurred, desires to record its
grateful thanks to the directors by now expressing their
want of confidence in them—(laughter)—and this meeting
further desires to encourage them to continue their exer.
time for the benefit of the company by now declaring
they are totally unable to manage the affairs of the
company." (Loud laughter.) Were the shareholders
prepared to back that ? (No, no.) The solicitor had
told the meeting that these resolutions were informal, hut
he would now put it in the usual manner, whether they
desired to support Mr. Culverwell or not.
The question was then put to a show of hands, Mr.
Culverwell and two others only voting in favour of the
amendment. The result was signalised by loud applause,
Mr. Culverwell demanding a poll.
Mr. GRANT said, after bmg toldthe resolutions were in-
formal, and that the board held 60,000 proxies in addi.
tion to the enormous majority of votes in the meeting,
he hoped Mr. Culverwell would not persist in demanding
a poll. (Cheers.) Hereminded the meeting that although
the directors had voluntarily sacrificed 5 per cent. to
which they were entitled, they bad been charged that day
by Mr. Probert with surreptitously altering the articles of
association. (Shame.) He hoped, with the fairness that
became his cloth, the rev. gentleman would withdraw that
expression. (Cheers, and loud cries of " Withdraw.")
Mr. PROBIRT rose in the midst of considerable ton.
fusion, and was stated to have complied with the wish of
the meeting.
Mr. Grtarrr, returning said he bad not much more to
say, but he recommended the disaffected shareholders, if
they wished to get out of their difficulties, to have a little
more faith and credence. He concluded by reading ex.
tracts from some financial papers, speaking in the highest
terms of the report and the company's prospects. (Cheers.)
Mr. WARNER, M.P. said since be had entered the ball
a paper had been placed' in his hand, in which the author,
mot of con • various sets of figures, partly out of the sc.
counts and y from his own imagination, came to the
conclusion that some great scandal had been perpetrated by
the old company,, and that if the liquidators Lad been
interested men it would not have occurred. As one of the
liquidators he emphatically denied, and expressed his
utmost contempt of, the ungenerous and unworthy Mimi.
tenon. (Cheers.)
Mr. mAyitARD, auditor, said, as an independent and
public man, there was not an act in the liquidation that
he feared to challenge the whole world to investigate.
(Cheers.)
The report was then unanimously adopted amidst great
cheering, and Maar'. Maynard and Ford were re-elected
auditors.

A vote of thanks to, and confidence in, the board was
passed with acclamation, and the proceedings terminated
after lasting four hours.