The Northern Daily Times.
Liverpool, Merseyside, England, 1856-02-16 00:00:00

was intimated would be deducted from the dividend
payable to the Crosby shareholders.
The board of this Company having carefully exartne.
this unexpected demand came to the conclusion that it
was not in accordance with the agreement as settled be`
tween the companies. In order, however, to avoid litiga;
tion, your directors first proposed that the legal adviser
of the two companies should be empowered to settle th@t6
difference, and have subseqaently used the baste fferfee
to induce the Lancashire and Yorkshire 80a,7 re
the claim to the decision of any qualified umpLre they
themselves might select.
Your board regrets to state, that all offers of arrange";
ment have been absolutely declined by that company.
The board entertains a strong conviction that to'
claim of the Lancashire and Yorkshire Company is tie"
tenable either at law or in equity ; but considering the
amount of the claim, which is 6301. only, and the position
of this company, the directors leave to be proprietors fn
dictate the course which, under the circumstances of the
case, they prefer to be taken.
The Chairman : Now, gentlemen, you have heard the
report, and I shall be happy to hear any observations upon
it which any gentleman may wish to make.
Mr. Robertson Gladstone said some of the shareholder°
were desirous of hearing something about the items of the
agreement which composed the £6OO.
Air. James Aiken said the sums amounted altogether to'
£7BO, but were reduced to £630 by an arrangement upon'
the part of the Lancashire and Yorkshire Company that
they would be liable to the extent of £l5O. There vat
one most curious fact connected with the whole affair'
which was that one sum, being more than half of the wile'
amount in dispute, was a sum claimed by that company
for tollage. £465 out of the sum in dispute was abso-
lutely a sum claimed by, and due to them for tollage. Noes
every one knew that whether in their domestic arrange'
ments, or in their office business, at Christmas, all theme
bilis did not come in together on the last day of Decembqe
They continued to drop iu for weeks afterwards ; and
this instance the other sums constituting the .£7O
absolutely consisted of trifling sums, such as all present
would expect to pay to their tradesmen at such a time.
When the directors saw the Lancashire and Yorkshire
Company, and pointed out the extraordinary fact, some °(
the other directors did seem to be astonished; but, notwitlr
standing all the efforts made to induce them to forfeit the
elated, or to leave the question to the respective direetort:
or to any competent person, totally failed: They elltl
offered the Lancashire and Yorkshire directors to leave
question to any respectable party the latter would thenrseto:
name, but all failed. Now the question for the propriet./
to determine was, whether they would submit 10 te
exaction, this resistance of a just claim upon their part, of
whether they would go to law? The feeling upon the 104
.4
of the directors was that the latter course would be 07,
unwise. He felt very much indeed that they had not hel
met in the proper spirit, but still he was of opinion thatl
would be very unwise to take any legal steps in the mattti
because the sum in dispute was really so small that he
not think it would be politic or desirable to do so. As 80
proprietor bad yet given utterance to bis sentiments, a ~,
as it might be expected that the directors would give sour,
recommendation as to the course to be pursued, he ne;
—not speaking on behalf of the other directors, beeau.so
he thought it better that the thing should be left la
the hands of the proprietors ; but individually speaking, an
he thought he spoke the sense of the directors generally,'
thought it would be better they should refer the question
back to the directors, to make the best arrangement the/
could under the circumstances. (Hear, hear.)
Mr. Hugh Hornby said it was necessary in the 614
instance to pass a resolution confirming the proceeding:
which the directors had already taken. Mr. Hornby the
proposed the following resolution :—" That the resolutiTL
passed at the special meeting of the shareholders of VI
company, held on the 14th of June, 1855, the heads 1:
agreement for sale of the undertakings of the Liverpool,
Crosby, and Southport Railway, and the property thereof;
to which agreement the common seal of this company
affixed in the month of September last, and the proceeding
of the directors in relation thereto be, and the game er°
hereby approved of and confirmed."
The resolution was seconded and carried unanimously.
Mr. Aiken proposed the following resolution :—'• That tuL
board of directors be authorised to adopt such measures
they may deem necessary to effect the completion of the
agreement entered into with the Lancashire and Yorkshire
Company, and to consent in their discretion to such
arrangement for settling the claims made by them as the/
may think proper."
Mr. Haigh seconded the :resolution, which was carried
without a dissentient.

The Chairman said he believed that was the whole of the
business.
._

Mr. Calton asked whether the directors had any funds
hands belonging to the company ?
The Chairman : None whatever, sir.
o
Mr. Calton said, the reason of his question was pnreiir
a personal nature, as he wished to ascertain whether theta
was any chance of his obtaining the expenses which be ha
incurred in connection with the formation of a committee;
by whose arrangements the sale was in a great measure
carried out. The amount was not a large one, being a fia—
„,
of £3O, but as he had paid it himself, he thought it WI
scarcely fair he should have to bear the whole brunt of th
expenses in addition to the time he had lost. to
Mr. Aiken suggested that the claim should be sent 10
the directors. The gentleman had stated what could scare/
leave a doubt that it would be very hard to allow bhp
lose £3O, which, divided among the whole body, would be
a very small affair. There were one or two other clairrol4,
the same kind which would swell the £7BO a little. 1'
present mayor bad told him that he had some small elailth
but that, under the circumstances, he would not send it 103
The Chairman thought the resolution just paSsed
give the directors a latitude to arrange these small matte'
Mr. Carlton said he would send in his claim. (ter
A vote of thanks was then passed to the chairman, a—
which the proceedings terminated.

SHIPPING INTELLIGENCE

LIVERPOOL, FEBRUARY 16

WIND YESTERDAY—South South-west.

4 —Eveg. 8 40—Height, 11 ft. 5 ig.