The Northern Daily Times.
Liverpool, Merseyside, England, 1856-02-19 00:00:00

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2

The Chairman moved that the accounts be adopted,
which was seconded and carried unanimously.
. Mr. George Al'llonnell was elected auditor in the room
of Mr. Bewley, deceased.

The following directors, retiring by rotation, were re-
elected :—Messrs. J. G. ' Horfaby, Lansrton, Barton,
11PI)onnell, and O'Connor.

The Chairman begged to call attention to one subject.
The company had been instantly and incessantly perse-
cuted by every parish they had gone through; if they
went a few yards through a parish with their wires, the
parish was down upon them for rates in a moment.
The directors always resisted the payment of rates,
and they selected the parish of St. Luke's, in London,
as being the most prominent to try the question in.
He must say that it was by the perseverance,
research, and assiduity of their secretary, Mr. Bright,
that that trial had been brought to a favourable termina-
tion. On Friday last, it came before the court at West-'
minter. The parish had put it off, and tried to wear the
directors out .from time to time, but at last they had to
appear. The only witness examined was Mr. Bright, for
three hours, and then the counsel for the parish gave in,
and instead of being rated at 25/. per annum, they got
only a nominal verdict fur one shilling. (Hear, hear, and
laughter.) An execution was previously laid upon the
office of the British Company for 41., which they had to
pay. (Lanahter.) Several other parishes had been pre-
paring to take proceedings also, and in fact, some of them
sent iii their demand in legal form to the ,office, but
were met by the judgment given in the court at West-
minster.

Mr. Sandbach observed that on the starting of. the
Company, 1.0001 a-year was voted to the directors, but,
in Consequence of the circumstances of the company, and
the smalln6ss'of the dividend, they consented to forego
their claim to:that grant. So far as the ordinary directors
were concerned, he thought the act quite reasonable, but
there were some who paid such constant attention to the
affairs of the company, that he considered them entitled
by their I,LbourS to some remuneration. (Hear, hear.)
Mr. Chapman concurred with Mr. Sandbach, and
thought it would be bad policy not to give every stimulus
to the directors in the good management of the company.
He would suggest that the sum of 5001 be placed at their
disposal, to-be divided as they might think fit. ,

Mr. Crosby remarked that the vote, if passed, should
be a prospective one, as the sum to be carried over this
year by the company, would be something less than 2001.
The directors, however, were large shareholders in the
company, and no remuneration could increase their
interest in its well working. Under the present circum-
stances, they would rather that no vote was made in the
matter.

After some conversation it was - _..uusly resolved,
on the motion of Mr. Chapman, that the thanks of the
meeting be given to the directors for their past services;
and that Mg be placed at their disposal for;the coming
year.

The Chairman observed that they would see by the
accounts, that a large increase had taken place in the
receipts of the past half year as compared with the pre
vi, us six months, and he could assure them, that if the
rate at which they had been working for the last six
weeks were continued throughout the year, it would give
them a dividend of six per cent. (Hear, hear.)
The meeting then separated after a vote of thanks to
ithe chairman.