The Express.
London, England, 1850-02-21 00:00:00

RAILWAY MEETINGS.

YORK, NEWCASTLE, AND BERWICK.
Yesterday a meeting el metropolitan shareholders
seaward by a eammlllee, wee hold at the London Tavern,
to take swarm he eyrie( the steps proposed by the new
board of Orem ale Merl to the arm* North of Eng-
land Ramey posher. The shalt wee taken at one o'clock
by Mr. Alderman Smear. M.P.
The CHAIRMAN said he attended the meths, ae a
shareholder of the Turk and Newcastle Railway, and oleo
as the versmaleilhe of his brother, who was a largo holder
of the /ode= harm. He was, in list, somewhat =
to what he banal to be the chisel, and must guard
against bdog ospyeseil to give any onateasar to the pro-
he=his sway of chairman. If the awning
Ids aAt puma to campy the chair eater meta Mr-
eamstemee, he would retain the post, otherwise he would
rein.
A SHAREHOLDER thought 4.t better that the chair
should be to by a member of the committee.
In reply seliess,
The CHAMW skied that he held no preference or
rueltaes Mares. If he continued in the chair he would
preside fairly sad equitably, but he agreed with the sug-
gestion that the disk dionid be taken by a member of the
mamittee. (No, as.)
Mr. N. CLARK wished to know by whose authority the
lasetiag had bra ravened. (Hear, bear.) The adv.,-
Untwist we., he perceived, signed by a gentlemen named
Samuel Duaghse, mugs, yre law," and he thought the
origin of the seromer engla to be slated. Had the meeting
rigiaated with prehensile sherehelden, or With the holders
of
the ether kinds of shores ?
The CHAIRMAN thought the question a very proper
one. Mr. Dauglam had waited upon himself previously,
and bad shown him a large list of holders of the 81. prefer-
ence shares, manyof whom held other descriptions of shares;
there was certainly a preponderance of the former species of
interest. (Hier, hear.)
Mr. DOVOLASS, the manager referred to, observed that
foiling that in all such matters there must be a commence-
ment, he had consented to act officially. The object con-
templated was to devise neer of relieving one closed share-
holders without injury to any others. The committee held
rally 380,0001. in the company. Having communicated
with the directors, they could elicit no answer. (Hear,
hear.) Of 25,000 shares held by them, about 7,000
consisted of consolidated and extension slimes. About
110 persons had joined in this movement. The
meeting was not called for the purpose of dictation,
but to obtain an inquiry. Ho had heard that the directors
wows in favour of letting matters stand over till 1853. That
mode of holding the rod over the holders was, in his opinion,
highly objectionable. A. meeting of the parties engaged in
the movement would be held in York on the morning of the
day fixed for the general meatier ; therefore the present
meeting was rather of a complimentary character.
At the request of the chairman, and with the concurrence
of the meeting, Mr. DowaLkaa then read the report on be-
half of the committee : _ .

It stated that the question before the meeting involved
the interests of nearly half the proprietary of the York,
Newcastle, and Berwick Railway, and a capital amounting
to nearly four millions, upon the raising and applying of
which th 3 prosperity or otherwise of the crin.pany would
depend. The object which the committee had in view was
to ascertain if some plan could not be devised for giving a
real value to the preference shares, instead of holding, es
they did at present, a value at the mercy of a call, and they
submitted two propositions by which they considered the
company could, by exernsftg the whole of its avail-
able powers, be enabled to nuke this stock worth keep-
ing as an investment. The committee had obtained the
co operation of stock and extension shareholders, who
held 6,532 shares, and preference shareholders who held
as many as 18,822 shares, and thus supported they
Wall to the directors, requesting their consent to the
appointment of a committee at the next general meeting,
so ascertain whether the holders of preference shares could
not be relieved from the present liability without injury to
any other clue of shareholders; but, in reply, the directors
had stated that it wu too late to make the meeting on
the 27th inst. available for the appointment of such a com-
mittee. The report concluded by soliciting the co-operation
of the shareholders, and expressing a hope that the directors
would apply all the available capital for so profitable a per-
pus as paying off the Great North of England share-
holders, and not expend it, to the ruin of the company, upon
unprofitable branches.
Mr. DURHAM moved the following resolution:—" That
this meeting, after having heard the report of the committee,
considers it very desirable that, at the next half-yearly
meeting of ahareholden, • committee should be elected, tr,
consult with the directors, sad ascertain if any plan can be
devised for converting the preference shares into thirds, wish_
out injury to the other clam of shareholders."
Mr. ALSTON wended the resolution.

Mr. N. CLARK opposed the motion, and expressed his
belief that tha scheme of the committee was fraught with
injury to the York, Newcastle, and Berwick Company.
He concluded by moving the following amendment :
" That the subject embraced in the observations of thine
gentlemen who have called this meeting appearing to be
wholly of a sectional character, and affecting only the pre-
ference shareholders, this meeting declines any interference
therein, and that this mating do now adjourn.',
Lient..Col. HOWARD seconded the amendment.
Mr. CHAMPNRYS eontended that so far from the pre-
ference shares being weed at a premium, as they were, they
ought to have bean weed at a discount, as the company
was at the time paying dividends out of capital, the Cr me
being falsified.;
Mr. DOUGLASS made some observation' in defence of
the obleet.:%:tile committee, contending that it was compatible
with the interests of the shusholdseg generally.
Mr. *RANT declared that though a preference share-
holder, and though in that capacity he had paid up gin full,
he was in favour of the amendment. A debt had been con-
tracted, and it could not be repudiated without injury to the
holders of:original and extension shares.
On the question being put, the amendment was carried—
the numbers being 28 agi,st 25.
A vote of thanks was given to the chairman.

EAST INDIAN.
Yesterday the third annual meeting of this corn-
y was held at the Loudon Tavern. H. A. AOLIONBY,
M.P., took the chair, when
r. NOAD, the secretary, road the report, the substance
of which was so follows :

The beard has been constantly occupied since the lath
Cearly meeting, on the 28th August, in discussing with the
ourt of Directors of the East India Company the principles
of the company's future arrangements. The board received,
on the 31st October last, a communication from the But
India Company, on the subject of Mr. Jackson's tender,
referred to in the report of the 28th August, to the effect,
" That this tender is not one that should be accepted ; and
that the court consider it would be advisable for the railway
compare y themselves to proceed with the undertaking,
leaving it to them to communicate with the Indian autho-
rities on the subject of a contract." The capital to be
raised, in accordance with the terms of the contract, during
the present year, will, under arrangements with the Court
of Threaten, be
_paid to the East India Company b 7 quarterly
instalments. The Ant instalment will be provided by the
call of it. 15s. per share, now in tonne of payment, and the
remaining instalments by calls of similar amount at inter-
vals of three months. The Sealed Share Certificates of 201.
each will be ready for delivery on and after the' .sth March
next, and will be made out in the names of the parties who
may be registered in the books of the company on the 20th
March. The three outgoing di:esters—Messrs. Agliouby,
M.P., B. 1). Colvin, and J. P. Larkins, offer themselves for
re-election. The affairs of the Bengal Crest Western Rail-
way Company are stated to be in process of winding up
under the Court of Chancery. In reference to a resolation
of the proprietwe, dated Aug. 28, 1849, recommending that
compensation to Ur. R. M. Btaphsessa for the exertions and
risks enceiudend by him in introdu the railway system
into India should be allowed 03 and to his family -
after his in the
ye...s of a per etnevve on eke net " GORHAM T. TES BISHOP OF EXETER."—WO utl-
rofits which over end above flue porZet, be received dentand that the judgment of the Committe of Privy Conn-
on the capital invested in the experimental section of rail- cil in the case of " Gorham v. the Bishop of Exeter," will not
way
now
contemplated, tke „name eamosam that they be given this week, but, if possible, on or before the 2nd of
have resolved that 6 per cent be reossessemded as the per March.—Guarrlion.
centage to be allewsol to Mr. Iltophossea. subject to such REFORM ASSOCIATION AT IsIANCIIESTRIt.— A room
arreageassats es may seem "lOW to the gsawal meeting. has been taken by the Manchester branch of the NA-
pr= the Name, chest amended to die report, it appears tional Reform Association, in Newell's-buildings, imme-
that the amount resehod fa s Bellied deposits, &a., is diately over the rooms occupied by the Manchester Puha-
-276,22w. 12, 104., whisk wag te anidends, accounts out. Tanury and Financial Reform Association, where the com-
shodiagolte, makes • total of 283,3911. Is. 9d., en the mitten held their first meeting on Monday night. Mr. Geo.
gates side thibelanns sheet. From the areditor side of Thompson, M.P., had come down from London especially to
tan ciggene, isenseers that the miseellansess boas e: di- be present. and it is proposed to make an appeal as early at
whys hege21;2421. 104,, and that in India 66,6011. lls. sd, possible to the friends of the movement in Manchester,
has as spent. Thee, same, with the sassaat of dividends, with a slew to the enrolment of members, who
3,1911.19 x. xe amounts due 7,1811. 135. lid., and cash on are to be admitted on payment of Is. each. Amongst the
hand at hems smi la ladle, vb., 196e1931. 12e. 3d, make • gentlemen present were Mr. Abel Heywood, the Rev. J.
teal. Schofield, Mr. Nelsen, Mr. Ribber(, Mr. Hervey, and
°°nTIsesPZI&RMAN 3110,4111 the Melaka of the report, Mr. Morris, alderman of Salford. One of the first proosed-
which wee eseseged, and maid tiassumsoly. cogs of the meeting was to form a council to preside over'and
Mr. RICARDO rer~ that the hallshed shares had conduct the future business of the branch association, and
lot been glsidielpe ran IMMO 114 eleadielders, instead the gentlemen abovethamed. together with Mr. whgett.
M Witold'
_Le__
_sebum who occupied the chair on this occessen, and others, were
1110 =A=igAN Owed that the *MO lei been sleeted members of it. Mr. Thompson addressed
placed hi the Mae of reepsaslbie peril" at di mate, an the month' at some length, offering his services
that woe a geese
_agnate^ la orrp way te promote the wishes of Mit
A FROFRVITOR seised if the board had the centred of association, hr arerldng meetings in different parts of the
the expeadhare. eosauf, which might ne summoned hereafter. One of
The CHAIRMAN replied that se Ina could now be ex- these meetings has been fixed to take place on Friday svelt-
Wre:tempt with this oessenst of the government of India. ing at the Tenthenisce-hal Orosthnorstresst, Chorlten-
fends went from the Beak bath to the Rest ladle upea-Mediesk, far the in t of meithen, and Mr.
Company, and heathens it went bask to the Beak of Rug- 'lleen Y enneensed m "dime the meeting, emPiemetery
log eras where it WM drown spa b 7 the board of dim- of the Opole of Oa ametistice.

chell, resigned.
Mr. R. F. Davies, and Mr. James Pennythorne, architect
to the Woods and Forests, were then put to the vote, and
elected unanimously.
The thanks of the meeting, with a combined vote of con-
fidence in the chairman and board of directors, were then
♦oted unanimously, after which the meeting separated.