The Express.
London, England, 1857-11-03 00:00:00

LONDON. TUESDAY EVENING, NOVEMBER 8, 1857.

ROYAL CUMILZY 0.41.DEN8 COMPANY.

Yesterday afternoon the adjourned general meeting
of the proprietors of this coopany was held at the Ktao's
Arra, Tavern, Palsce.yard, Westminster, for the purpose of
receiving the report of the Committee of Investigation ap
tiltby the meeting on the Bth ultimo. Mr. T. K.
s, (chairman of tha board), Tended:
The CHAIRMAN having iota the 11117e/10101•111 that
&oe the last meeting three gentismso- Lendi Lees
and Johnson—had been elected directors the board,
Mr. Bwarr said he wished to hand be the report of the
committee of which he was the chairman.

Nicitocts stated that there were only six el the ewe'
mires present when the report was agreed to.
Mr. JONES, the solicitor to the company, that reed the
report, which stated that the kW of the gardens, mechaand
by the company for 14,00 W., was at the time red worth Mara
hen 1 000.. ; that, In contraValitiMS of the 91st clews of the
deed of settlement, the directors accepted bills on behalf of
the company to the amount of 20,6471. ; and that, scoording
to the umnion of Mr. Hawkins, all these bilk ems* egotist
the shareholders, and the ditectors are pentmelly liab a for
than; that in the musk depadomat there was room
he vary great retrenchment, there hiving beenpale
hoes Aug. 16 to Sept. ?A (half the meek,
Jnllien's salary, 1,2601. ; 2,4471. 7e. ; vo.
Wits, 10401. ; refreshments to 1601. As to
era mad mortgagee the report nays Then ar
peen to ben beta thoweghent • very ineolsr system al
hod,* with ant tosameloas of the °cowony. The
died of seleis provides GM ell payments (=
somblea maialieseles) lima be mole by in order at
of ea bead d diesosieres re by the ardor of • commiuse ap-
polehd by them, end that ma mos oweediag 104 shall be
peddhp doom ea the %mhos whams aemoiest sigmas
le have been cored with one el the direenes, who Ina an-
imated with the receipt_ mad mitiM et Inge sum of money,
stareatiag to mayaosseeft of outds, which ought to
have bets paid to 13111 IMAMS a torsby cheques of the
compay, se directed by the deed." The report goes en to
state that, as the deed of oolthment tvkled that the
directors should haveparer tekertem 10,111 ~ but not exosed
that sum, the mortgage to Wanes. Scott end Cornwall for
6,0001 and the fast memo to Mr. Colborn, would ex-
haust the borrowing pewees of the directors, and conse-
quently the second sedgege to Mr. Collagen would he void;
that with regardto the accounts and dividends, at a meeting
en October 29th the directors stated they could pay ltidti!
dead of 6 per cent. foe the half-year ending on the
January 1, and that the strictest economy had been seed in
the musical deportment, both which statements an now
negatived by the soccoats now tam, the baleace.sheet up
to October 1, 1866, showing then the company had this ex-
pended all their paid-up capital, sad were la debt to the
alEcasit of 14,3631. h. Bd., and hi the below la the
beakers' heads was only 1991. 14.. Id. It we. by these mad
other such traneactions the shareholders sad creditors bad
been led into • blew notion of the state of their
fitments, and tradesmen sad others hawed to give further
credit to the company, that the directors disregarded the re-
quirement of the demist sealsment ea to the time of publi-
cation of the balsaorehost, and that ties balance-sheet did
not exhibit a killed pire of the Whirs of the company.
The report then proms& to the following general observa-
tions:—'• It appears that the general body of the share-
holders were entirely ignorant that there were any meet- '
gages on the property, or that the company wee involved in
debt, until they were informed of It by the affidavit of their '
own secretary, hied in support of the petition to the Court of
Bankruptcy, which Mans that' the paid-up capital of the
company hes been entirely exhausted and lest, or become
unavailable, mid debts sad liabilities to the amount of
26,0001., or thereabouts, had been incurred by the said com-
pany, part of which—viz, a sum of 14,6001. or thereabouts
(a. he helieved)—waa secured by mortgages on the said
gardens and promises; but the remaining 11,6001. is wholly
unascured; which debts end liabilities the said company is
totally unable to pay and discharge, and, in fact, wholly un-
able to pay its debts.' But the moat unaccountable act of the
directors was at a meeting held as lately as the 17th of
February last, when the Unmet committee reported to then
that the compete) would requite an advance of 6,000 i. to
carry on their operate„.. toe directors at the same meeting
ordered the sun of 2.20 u/. should be expended in • new re-
tresholent- room. The new retreat:latent-room was accord- '
lagly built, at an expense of 2,5001, notwithstanding the
(mummy had then only a entail balance at their banker's, and
were actually indebted to vertuus persons to • very consider-
able amount. '1 his appear, to your committee a most im-
proper act, and wholly unjuetitiuble. Your committee were
especially desirous at informing the shereholdere what is
their actual p.iition at the present time, but, as before stated,
all information as to the easignmemt from idr. Tyler, the
mortgages to Mr. Swett or Mr. Colboru, or the coutracts
with M. Jullien or the builders, is withheld, the directors
haying positively refused to produce thane to the cumulates."
Toe report concludes with sumo migratione as to the
future prnape. te of the gardens. The committee recom-
mende a ayeteot of management diametrically opposite to
that which hes been hitherto adopted. They coincides the
plan of continually giving scientific music a mistake, and re-
commend, sea geeeral rule, a toot° varied close of murk sad
of a more national character. such SA the beet English, Scotch,
end Irish compositions, which would be obtained at lees than
half the cert. The out-door amusements should also to in-
trusted to persons experienced in such matter., taking sepecial
we to place them under cock control. that the moral c.hozseter
of the entabliehment should be jealously watched and strictly
preserved. Greater ancomany ia alai required In thr:=
and advertising depostroest. The cornauttee alert
that proper steps should be taken to have • full inmattgalka
of the and all dams on the company, in order
to ascertain w at the encumbrances really are, and whether
each arrangements could be made as would enable the com-
pany to carry on the gardens with a prospect of mks the
creditors, and giving aims return to the tiritholrleria • If so,
whether it would to desirable that an extension of the lease
ehoeild be applied for, your committee having ascertained
that the lanolortbe would be willing to renew the negotiation
for n new lease on liberal term., if the affairs tot the company
can hr satisfactorily adjosted, and placed under proper ma-

ge
"far w.
I'toott :nosed that tha report be adopted; Mr.
WflonALO seconded the motion.

II A L moved the following amendment
"That Inasmuch as the continuance of the differenns be-
tween the directors and certain shareholders is damaging to
the property and injurious to the interest of the company,
and as four additional director,have been added to the
board, making seven in the whole, that the prevent directors
of the company, vie., Manses. Bain, Coppeck, Holmes,
Johnson, Land, Leo, end Todd ho requested to make sock
proviaional arrangements with ti s creditors of the el=
es and for letting the gardens, as they may deem
and that they be requested to report the result to as was.
ordinary groom' meeting, to be called for the pupae se
early Se convenient."
Mr. Davi" seconded the amendment, for he thought the
moat judicious course would be to still the difiereaken and try
to make the property pay in future. He thought that some
dimippotatment must have been felt at the unsuccessful result
of Madame Alboni's engagement. No doubt it was dime by
the directors with the best motive, but that clays of music wee
not what was required by a shilling audience.
If. it'Ll.ll,l said there had been a good deal of mis-
management at the gardens; It would take twenty volumes
to tell et. He had never Itad any power plaecd at his dis-
posal. All his con:rata bad been profitable, and three at the
gardena would have been more so, had he be allowed to
manage them as he liked. Ile had been a great loser ley the
eons ern, but he did not want his money back; all be wanted
woo to see this nor put an end to, for he considered this sys-
' tew of fighting depreciated the property very materially.
Mr. Coonot: said be could never come to peace while one
party had racked 14,00 W.
Mr. Cureotn, la reply, said that if Mr. Coombe, or any
other competent person, would pledge themselves to pay the
amount at which the gardens were valued, he would
wiltogly refer the matter to arhltratiim; but as ft was there
was nothing to refer, because he had never had a single
penny from the concern. He had • great stake in the
matter, and had been a great loser, and he was not going to
be driven out by the nods. and clamour of persons who only
represented oco share. Ile cautioned tho shareholders that
the niortgagein might come In and all in a few days, if some
aresogenieut wen not come to. As to the value of the
arden., Le had contracts for their sale from 14,0001. to
20,tiOn/. lie considered that they would all have their
money if they chose to work with unanimity, and they
ghoull have their money before he touched any. but he
would not t, bullied by men whom he despised. He
promised them that he would do all in his power to helpp
them in getting Linn: money, and, therefore, he eapportW
the amendment.

After some further discussion the amendment wee nega-
tived by 37 against 33.
The CHAIRVAN then read a reqUilititlll demanding a
ballot, upon which—
Mr. COOMICENI Mr. FLEMING. COM brined of such •
course and after some alight diseariou, Mr. Fleming
moved' that the ballot be adjourned until Monday nett, to
take pines at the Surrey Gardena from three to els o'clock,
by the secretary, ,wilted by three scrutineers, to be named
by the chairman.
Mr. II'Dov•to seconded the motion which, after a fur-
ther discussion was agreed to, Masora. Johnson, Chappell,
and Spetchley being the scrutineer,.
Mr. ?LEMING then moved " that !deism. Coppock, Bain,
sad Holmes be removed from the directorship."
Mr. Comae seconded the motion, and • dimuseion earned,
in which the Cheirisan M. Julien, and others took part,
and eventually it was Carried by a majority. A ballot was
then demi:tiled, and Bud to be taken on the same day se the
It. Thanks to the chairman terminated the proceedings.

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