The Express.
London, England, 1850-05-03 00:00:00

NEWCASTLE AND CARLISLE.

NON•FULFILMINT OF MR HUDSON'S CONTRACT.
On Wt donde) Let the adjourned general meeting
at the shereholden is tits eemps,y was held at Newcastle,
foe the pompon el rambling the direeton to declare a din-
&tad, see ming to promise, for the half year Nadia; Dec.
31,1849.

At the conclusion of the proceedings of the adjourned
meeting it was resolved into a special general meeting for
she purpose of considering and sanctioning the bill now
berme parliament, authorising tee company to raise
150,0001. of share capital, and 50,0001. by loan, and em•
powering them to mli or lean lead to the York, Berwick,
and Newcastle Company for the pin-pees of the new station
now erecting at Neweestlis, also to bay or lease land from
the said company. M. i'mfmraa, Esq , took the chair.
The secretary read the report aa follows :
" A: the last adjournment of the annual meeting the
shareholders were Wormed that the delay in making the
dividend arms entirely from not having been able to get •
final est tlement of the ace.uats with Mr. linds,o, and they
regret that se yet that desirsble object h.. rot been at-
touted. Progress is, h.iwever, making, and it may not, it is
hoped, be long before a conclusion is come to in the matter.
Is the meantime the directors recommend • dividend to be
made for the half year ending the 31st of December last
atter tee rate of 11. 10s. cp.& the 1001. shares, and so in
proportion for the quarter shares, to be paid on and after
the 15th May inaL"

Tee CHAIR. tI AN—That is one half of the dividend we
are entitled to upon the rent Mr. Hudson agreed to pay
We should like to have c.ncluded the business to-day, and
we would have done ro had the aceounts bees settled.
(Hear, bear) No time, h 'waver, will be lost, and we 1111117
yet be enabled to do so More the dividend as paid. The
shareholders must recollect that for the last three years the
dividsw's have been Dever than them of any other lime;
we have paid us an about Si per cent. (Hear.)
Mr. ELLISON, solicitor—l should like to be informtd
what is the nature of the difficulty with Mr. Hudson;
whether it &rime oat of the legal construction of the agree-
ment, or from •Z!f5114.004 circumstances ? (Hear )
CCAIR MAN—TM director have no idea of being drawn
into a court el law; at the same time they ere anitious to
avoid giving any information that may hereafter be used
against them. (Hear.) It is true the sharelvlders have a
right to inquire into the matter, and the directors have not
the least objection to give all the information in their power,
but under the present circumstances Mr. Ellison will agree
with a that ea certain poista it is necessary to be very
cautious. (Hear) The shareholden may rest assured that
we have the mesas of making this dividend, and I think on
an average of three years it is nut a bad dividend.
Mr. ELLISON-1 have no desire to elicit any informa-
tion that say be prejudicial to the company's interests, but
may I ask if Mr. Hudson has paid the money to enable ,on
to±eclare this dividend ?_ .

The CHAIRMAN—He has paid it.
Dr. COWAN—When was it paid? for I understood it
was not paid yestuday.
The CHAIRMAN Part of it wee paid yesterday, and
pan this menace.
Mr. ELLISON—I am fully aware that the directors an
placed is a position of yea difficult, and delicacy, and I
don't wish to put any question that may einbarrus them, but
this being the third use we have met on the subject, it is
only due to the shareholders that some satisfactory informa-
tion should be given them. (Hear, hear.)
Dr. COWAN said—When I look upon that "iron job"
which Mr. Hudson perpetrated upon the company—when I
think of the depreciation of rolling stock not made good—
when I thick of the suspected jobbing in the 35,0001. of
sham not issued, which might have been sold at a premium
—and when I look at the prodigious expenditure during the
time he had the limo, I feel convinced I am within the
mark in stating that this temporary lease has cost the cum
pan; no leis than 200,0001., limited as the period of posses-
sion wan to 18 months. But, sir, thouich I thick you
committed a grave and most serious error is banding over
the line as you did to Mr. Hudson, I am bound to alma of
you and the other directors that I beli<ve your intentions
were good—(hear, hear)—sad that in making that loose
agreement you imagined you were forwarding the interests of
the shareholders. (flew, bear.) I hope, therefore, I may
nut again have occasion to ails :e to this painful subject. But
what an we to say of Mr. Hudson I (Hear, hear.) Had
he been a poor man—had he by the falling grandeur of his
speculations been reduced to that poverty to which he has re-
duced so many others, I should in that use have pitied the
man whilst I might have condemned his recklese citrate-
ganee—(bear, beer,)—but when I And him boasting among
his compeers that, notwithstanding all he has been obliged
to disgorge he is still muter of a princely fortune, I filial' it
would be mean spirited in us shareholders to submit tamely
to sash gross injustice. (Loud applause.) No part of Mr.
Hudson's proceedings appears so black as his conduct in
reference to you. Whoa he was condemned everywhere
else he still had a innaghold of public opinion in hie
favour in Neweaatle and its vicinity. So late as a meeting
of this company in November last you replied to a question
of mine that you had no doubt the dividend would, accord-
ing to *grainiest, be paid in January. How he has repaid
your confidence we have all ample prod• it is now the Ist
of May, and we are not paid yet ; only Mahal, of it is paid,
and I don't know when that was done.

The CHAIRMAN—The last of it was paid this morning.
Dr. COWAN—lnsteed of settling with you and the Mary-
put Company on she Ist of January, he has for four
mouths evaded the just claims of two great companies, with-
holding from us all (particularly t►e widow and the orphan)
that which is oar due. (Hear, hear.) His conduct as regards
as has been insolent, overbearing, sad uojast. (A laugh.)
His wretched quirks, his mineable shuffling, end paltry petti-
fogging evasions are unparalleled in the whole of my canal-
dyeable aperienco. (Laughter and applause.) He Meats
both companies with equal contempt, and taro them into
ridicule. The learned doctor, in conclusion, observed
that it had been 'negated to nth* up the dividend
from the reserved fund, which had boss fairly and
honestly earned, but be was opposed to that altogether.
(Hear.) Let them wait, and use what could yet be done.
(Loud applause.)
The CHAIRMAN, after some remarks, moved that a
dividend of It per eat. should be paid about the 15th of the
present month, and should anything be done with Mr. Mad-
an in the meantime so as to secure the other half, it would
be added ; at all events, the other dividend would he ready
for payment at that time. Dr. Cowart seconded the reso-
lution, which was carried unanimously.
The meeting then resolved itself into a special iseetisg,
and approved of the bill now before parliament for raising
an additional 200,0001., 1/r. Cowan giving his support to the
bill, with the express understanding that the capital account
was not teamed 177,0001. He stated that he should like
to have seen all their sets consolidated into one, their books
audited monthly, and the mounts printed half-yearly. He
wished likewise for a statement of the whole transactions
with Me. Hudson. The meeting then broke up.

JEWS' ORPHAN A/ITU:M.—Y=lo'day the =ni-
vel/easy festival of this Institution took place at the London
Tavern, Bishopsgate-street, Frederick Peel, Esq., M.P., in
the chair. Between 200 and 300 gentlemen sat down to
dinner, and &moonset the gusts at the principal table erre—
Baron Lionel Rothschild, J. Abel Smith, H.P., Capt. Peel,
Sir H. Most/lion, Sir J. Tomas, M.P., Mr. J. &bag, pre-
sident ; Ewe. Dr. Adler, shit( Rabbi ; Meetings Roman
Me. Alderman Salomon& Dr. Vase Oven, Emanuel Loseads,
te. The chairman, in proposing " Prosperity to the Jews
Orphan Myles)," ailed= to the sum= which had attended
the iestitatioa, and made mention of various eireunistaaces
for the purpose of showing the present eo..dition of the
society. The financial statement showed that the
total amount of sobseriptioas (including • balsa= of
241. 14e. 6d. die to the treasurer) was 7IW. 165., whilst
the expeoditore equalled that mama& It further appeared
that the faaded property in the names of the various trus-
tees was 6,0061. 18e. &beg, the presideat of the
institution, proposed the health of the chairman, and in
doing so allotted to the honourable part he had taken in the
House of Commas is respect to the admission of the Jews
into parliameot.—The Chairman, in returning thank., ex-
pressed the gratitude he felt at the compliment which had
be= paid him, and he was glad to have an opportunity of
assuring the company that he woald always endeavour to
advocate the cause of the Jews, as he had done upon =eons.
ism alluded te.—Various toasts were afterwards proposed
and duly responded to, sad subscriptions were announced
ammiontleg to upwards of 1,2301.