The Express.
London, England, 1868-02-28 00:00:00

Whatever may be the cause, there was a vary
serious fall in Bente, which closed yesterday B,t
69fr. 374 c., and dropped at one moment as low as
68fr. rfic. It afterwards rallied, but left
off with much heaviness, at 69fr. for cult,
and 69fr. 21}c. for account, with a fall of
50c. and 350. Italian fell 55c. ; Credit Fonder,
22fr. 50c. ; Mobilier, 10fr. ; and Comptoir d'E„.
°envie, Mr. The money article of the
says :

The upward movement which has been going 04
since January was neither serious nor durable no
the Bank of !kenos returns and the railway receipto
surely indicate. The sources of savings are ciriod
Confidence is alike shaken in polities, kannee tr,d7
and industry. The Bank returns are again worse. yhtre
• further augmentation of eighteen millions in the bullion.
and • falling off of nine millions in the discounta Thus
figural, mays the Avner Nationaf, show conclusively the
business is stagnant, and that an uneasy feeling previa,.

PUBLIC MEETINGS.-(THIS DAY.)

LONDON, CHATHAM, AND DOE JLI /L IN Y,
_ _.__

oger.J:!:nenwooastnAhtheeiledothithialfsithe-ys/v
ilcytorißmeetinsT:e7hairinouf.., tuphiLukini.eonrtbu-ty
accordance with the provisions of the Company's ~tr.
Major H. Jilt SHARP.
The report presented at the meeting of the shareholders
y esterday having been taken as read,
The CHAIRMAN, in moving the adoption of the re.
po. rt, said that after the presentation of ouch a full
kenunt it could not be necessary for him to make
an y remarks. The debenture-holders were new
•tope part of the company, and whatever benehtel rt.
`udders must benefit them. He then referred to the
'theory • of the Arrangement Act, which he said with
faults • nd deficiencies had been of great use, saving rho
debentrt re holders from much loss and the shareholders
from nth 1. He called upon all present to act in ac„ e.
dijmoro , spirit, and to beware of any who would sow
di...a., t among them. That fine property was not to be
frittered I, way to gratify the selfish ambition of indi.
vidosjo, (Ll,•eers.) He then paid a tribute to the manager,
Mr. Forbes. What that unfortunate line, he went on to
say, wanted wee repose, and with all due respect for a
loomed body of whom he had a wholesome fear, he
would observe that they must throw otf the lawyers,
(He ar, hear, and cheers.) When the traffic we
developed, through arrangements with other rum.
ponies, they might arrive at the halcyon days of dirt.
dead. He really believed that the company
had now seen its worst. Although there was a great deal
of mud, there was nevertheless beneath that • good
foundation. (Cheers.) The mortgagees' directors ham):
been accused of appointing themselves under the bill, he
begged to say that he should resign his seat, leaving it to
other. to re-appoint him if they pleased. Mr. Dixon would
follow his example, and he hoped Mr. Hodgson would
do the same. (Cheers.)
Mr. J. H. POWELL, in seconding the motion, referred
to the increase which had recently taken place in
the traffic, remarking that that Mayas was by 110
means exceptional. A good deal of progress had h
made in the sale of the surplus lands during the
half-year, and the amount of money thus obLinol
was very considerable. As to the question of pr.
orities, which it was very desirable to have settled as
early as possible, a petition raising all questions at wire
was being prepared by counsel, and would shortly be pre.
seated to the Lords Justices. Alluding to the disputes
with two financial companies, he contended that right was
on the side of the debenture holders, who were misled by
the statements put forward respecting the capital. He
hoped the debenture holders would unanimously support
the directors in the course which was being taken on
that subject. (Cheers.) The policy of the board towards
other companies had always been one of conciLiAkei.
Within the last few days negotiations had been entered
into with the Crystal Palace Railway Company which the
directors hoped would conduce to the interests of the Le.
don Chatham, and Dover Company, and he trusted that
ere long the board would be able to effect arrangements
with the Kent Coast and the &senorita Companies which
would be equally beneficial.
Mr. It. Honoaott (a mortgage director) complained of
the *minion of one class of debenture-holders from the
arrangements which had been made. He then ex•
pressed his disapproval of the proceedings against the
General Credit Company and the Imperial Mercan-
tile Company, contending that it would bars
been much better to submit the matter to arbitra.
tion. The surplus lands were the great bone of contention
between the parties, and Lord Cairns had declared ttat
those lands formed no part of the security of the de
beanie-holders. The only persons directly concerned
were the exkusion shareholders, and if they wished to
carry on a suit let them do so at their own cost. 'fur
complaining that certain creditors had been paid oat of
tolls, thus obtaining a priority over the debenture holders,
he suggested that the accounts should be referred back fa
a fresh audit, denying that they had been audited except
from the shareholders' point of view.
Mr. Score, after saying that he thought the company
had now fairly turned the corner, expressed a hope that
Mr. Hodgson would follow the example of the chairman
by resigning.
Mr. HODGSON observed that that question could not be
raised until that of the election of the directors was before
the shareholders.

A SHARXHOLDER having asked Mr. Hodpon to mutt
whether or not he intended to resign,
Mr. HODGSON declined to answer till the proper time.
Mr. SCOTT went on to allude to differences between Mr.
Hodgson and the other directors, and contended that it
was not desirable that he should remain on tho board. Ic
conclusion he intimated that he would move a resolution
to that effect.

Two or three shareholders objected that Mr. Scott n.s
out of order, and, in deference to the evident feeling of the
meeting, he set down.
Mr. uaestaiNoros dissented from the opinion of the
chairman that the debenture holders were co-partner. with
the shareholders. The line ought to have been handed
over to the debenture holders, as would have been the
came under similar circumstances in America. (Cheers.)

Mr. MACDONALD, who M Will announced, amid deririre
laughter, was the general manager of the General Credit
Company, but who stated that he was also a debenture
holder, deprecated litigation on the part of the board. lie
denied that any attempt had been made to settle the dim
puts with the Gfteral Credit Company. The statement
in the report that the company which he represented were
sureties for Veto and Co., was not true—they were cre-
ditors. Mr. Hartaidge admitted that his company were
swindled by the London, Chatham, and Dover Company.
The money was obtained for the purposes of the corm
pony, and therefore it was liable. (Cries of " Ob,
The General Credit Company was swindled, and this corm
poration (the London, Chatham, and Dover) was the re-
newer of stolen goods. (Loud expressions of dimmer.-
' bation.)
The CHAIRMAN protested against the use of such lan-
guage and appealed to the meeting whether they would
continue to listen.
The meeting decided not to listen, but Mr. Macinis
amidst great uproar, for some tune persisted in 'peat*.
Mr. POWELL (director), said the Vios-Chancellor ind
decided, in opposition to Mr. Macdonald's view, that the
accounts as between Mears. Pito and Co. and the London,
Chatham, and Dover Company did enter into the question
of the General Credit Company's claim. (Hear, bear)
Mr. BATEMAN advocated a settlement of disputes 131

athitrstion, instead of having recourse to Chanoer).
Mr. Bunn also opposed persistence in law, retuaripug
that four sets of lawyers had been employed in the variQW
suite.
After some further discussion the report was sdoptei,
with two dissentients.
Mr. MIAMI, the retiring mortgagee director, was re•
sleeted.
Mr. HODGSON declined to retire, end a resolution sag
upon him to do so was negatived.
The proceedings terminated in the usual manner.

OALCUTTA AND SOUTH EASTERN RAILWAY•

An extraordinary general meeting of share-
holders was held this afternoon, at the offices, ho.
211, Gresham-house, Old Broad-street, Mr. J. Book
DAILS in the chair ; when a resolution senetioonkg
transfer of the railway to the Secretary of State for lsda,
wee submitted, and unanimously adopted.
The Cismanan briefly congratulated the prof
rietto
anon the result of their negotiations with the government,
after which the proceedings terminated, having only toted
a few minutes.

Mr. John Reid, who upon the establishment of
eountry branches by the Bank of England in ver ea
appointed the Manchester agent, has now retired after 40
years' service), and some friends, anzions to show their
MUM, have presented him with a testimonial in Mow
plate and 3,0001. in money. In connection with Br.
Beid's retirement the remarkable circumstance is dated
that during the 40 years of his management of the branch
not a shilling has bees lost by bad debts.
Sr. CoLemsrs.—A letter from Rome, in the
Ames of Madrid, Mails that one of the cases el
basilamiies at pressen mahmitted to the Sawed Cmino
gneiss Y that of ahriebrephee eohunbas the disavow
of Ameba. Thepreposalis mid tobe dee to aselinalDotmet,
Arabian, el Bonham The Leona poblishesa long letter
addressed by Ids miseries to the Prim on the subject
It is to be that the devotees of the saint riot wit
dam to lostween him and the Irish !unit
04Innhse keg ago reesbred Melees of oilcans'

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