The Express.
London, England, 1861-02-04 00:00:00

THE EXPRESS, MONDAY EVENING, FEBRUARY 4, 1861;

wzgranzarsw PALACS MOTII,-(YMIS DAY).

The half-yearly meeting of the proprietor was
held at one **aka at the hotel, Viscount Om-mu in the
chair.

_
The Swann= read the following report :
"The direr:tees had the pleasure, by a circular in August
last. of intimating to the shareholder's the decision of the
House of Lords in the suit instituted against the company
by a shareholder, to set &aide the arrangement made with
the India Board, for letting a portion of the hotel at
6,0001. per annum. The India Board entered into
pomession ou the 13th of August, and have
tita quarto?. rent. In addition to this the
have received an amount for refreshments
supplied under the terms of the arrangement, the profit if
which, together with the sum allowed by the India Board
for expenses, has sufficed to defray the coat of that portion
of the oitablishmeet, and which is necessarily on a male
capable of conducting a larger business. This arrangement
has been attended with the further advantage, that the
service, especially that of the kitchen, is in a state of
efficiency for undertaking the general business of the hotel.
The directors have now the gratification of announcing,
that they have made arrangements fur opening the hotel
to the public, on the Ist proximo, under very favour-
able auspices. The delay in completing the building
has been greater than was originally contemplated ;
but the directors have already recapitulated the causes
leading to it, which have been various, and entirely beyond
their cowed; and they regret to add that the expenditure
upon the building has considerulJy exceeded the estimate
formed of it. It was assumed that it would be com-
pleted for about 70,0000; it will, in fact, cost,
with the nocesiary fitments, between 90,0601. and
100,0001. It will be in the recollection of the
shareholders that the building contract entered into was
ant for a lump sum, but for work at a schedule of prices.
Some portion of the additional charge is for work not pro-
vided feria the original design, but found to be necessary in
the progress of the building, but the greater part of the
excess is for work included in the original deeign, and be-
' yorel the amount which had been calculated upon by the
' promoters of the undertaking. A farther increase of expos.
diture has arises out of the delay in completing the build-
ing, and the unexpected litigation in which the coin.
paay has been unfortunately involved. The precise
amount of its cost mama yet be ascertained.
brit the director' are taking measures to have
the account. thoroughly scrutinised and investigated.
In the meantime it in apparent that the company mascot be
considered in a satisfactory and efficient condition without
,as enlargement of their share capital. The present 11111101
capital is 1011,001). with 22.1,0001. raised debentures. The
directors consider ;hat a further sum of 15,010. is
for the purpose. of the company ; and they propose
the authority of the iimprietary fur sanction to issue 3,000
additional shares on which they propose that 51. should be
paid no allotment. the reminder to be called up as shall be
necesnary for the esi=s of the company. They propene
that the sew shares be offered to the present sharp
b.,l,lern.it par ; sod that should any remain unallotted they
should be offered to the public an such terms as they may
command in the market. la the beard's last report the
pniprieton were invited to apply to the secretary of the
coiniany for any portion they might desire to take
up of the 25,0001. debentures about to be issued
for Eve jean at aa interest of 5 per cent. No &mil-
rations were received iu rspoose to this invitat ;
and the board accordingly made arrangements for an &d-
-eepen in the meantime, on the security of the debentures.
If the shareholders should now desire to nihscribe for these
debentures they are still open ; but it will be necessary that
applicant. should address the secretary for this purpose
by or before the 14th proximo, stating what portion
they respectively require. Since the last general meeting,
Mr. & C. Hall hes resigned his seat in the direction. In
his piece the board have (in 11000MADCO with the provision
of the articles of association, and in pursue* of the an-
aouscement made to the shLebolders in their last report)
elected Mr. D. LiNoad, Walton-on-Tharnea, a gentleman of
much mercantile experience, especially is the business of
Joint Stock Companies. The board, after the fullest
coosideration, have come to conclusion that eight
members (including the chairman and deputy chair-
man) constitute a sufficient number of directors,
and they do not, therefore, desire to increase it.
The board have made arrangements for the discharge of the
duties which devolve on them after the opening of the
hotel, through committees actiag in an executive capacity,
but reporting to, and superinteaded, and controlled by the
collective board ; an arrangement which the board believe
will conduce to efficiency in the insonrement of the com-
pany. The tariff of charges and management of the hotel
have been considered by the committees appointed for the
pumas, and, after mature deliberation, settle.) by the
beard; and the board believe that the arrangements made
will were to the public comforts and luxurien equal to
those to be obtained at the best hotels on terms which cannot
fail to be satiefach ey to the public. For the convenience of the
shareholders, the board have prepared and printed the whole
body of the article. of association of the company, in-
°arresting such clausal in Table B of the Joint Stock Com-
piano Act, 1056, as are applicable, and numbering all the
clauses insolence. By these means much ascolivenienc• in
enmereference is avoided, and a complete and useful grids
is afforded to the shareholders desiring to be acquainted
with the legal rules under which the company is formed
and acts. A copy of these articles can lie hail by application
of any shareholder to the secretary. The three directors,
accord* to the articles of association, retire by rota-
tion at this meeting are, the Viscount Chelsea, Captain Har-
wood, and George Norton, F who, being eligible, offer
thmembee for n-election.
Atag., this meeting two miditore
meet also be elected fur the earrent'year."
The CIIAMMAII, in moving the adoption of the report,
congratulated the meeting on the niorueut having arrived
when the company might consider Wolf fairly em-
barked in its great experiment. They hail now
gut a handsome sod complete building, and the
arrangement. made enabled them to offer comforts
and luxuries equal to those provided by the best private
hotels. They eterted under moat auspicious circumstances.
A delay huh occurred in the opening, but he believed
it was better to begin now than at the commencement of the
dead season. (Hear, boar.) As regarded the expenditure,
be observed that the amount paid to the builder
was, in round lame, 85,0001. There was about 10,000/.
which was is the wait disputed, and this had beim referred
for arbitration to Mr. Hunt, than whom a more competent
M.uwas not to be found for dealing with mach a matter.
lt iloard believed that 20,0001., to be provided by the
issue of new shares, would be sufilcient to cover
all remaining expenses, and they inked the
suaction of the niceties for the raising of that
amount. Arrangements had been entered into with the
Electric Telegraph Company to have an office in that house,
and tbie would prove a great advantage to the hotel without
involving soy material outlay on the part of the company.
The motion having bees seconded,
Mr. Newest/cis mid he understood that an application
had been made by the India Board for the whole
of the building. He hoped that if that were
the case no decision would be come to without
first amenities the shareholders. (Hear.) He thought
the list of charges might, with advantage to the company,
have been made lower as regarded some of the items.
The Ceatenalt said that no proposal like that which the
hoe. proprietor mentioned had been mole by the India
Board, and if any should he made nothing would
be done without consulting the proprietor.. As regarded
the tariff of charges, he admitted that they ought to
be as moderate as possible, and the baud would
be obliged for any reasonable suggestions on that subject.
(Hear, hear.) They felt that that company ought to be
equal, if not superior, to other hoteAsepers in liberality.
(Hear, hear.)
After some further discussion the report was adopted.

APOT/IRCARJER' HALL.—At a Court of Examiners
held on Thursday. the following edema% were admitted
licentiates of the Society of Apotbecarin, viz.:—Mean.
W. T. D. Caldwell, of Kennington ; W. Edwards. of
Hampton, Devonshire; R. E. Huntley, of Howdon ; H.
Hume, of Newassitle-oar.Tyne ; C. H. Nerve ; W. F.
Beene, of Bath • J. Hollinworth, of Newton Moor, Che-
shire ; and A. O. bolquhoun, of Riseley.
MATH PLOY DRINKINO WHISKY. —A most la-
mentable sad wretched death from spirit-drinking took
place in Keraiire dockyard early on Friday more*. It ap.
peen that the night of Thursday, or very early
the next naming, some marines serving oa board her
Majesty's ship Hero, Captain Ryder, and which is at pre-
sent in Keying' dock wider repair by removing a panel
of the down the ward-morn obtained acorns to the store,
sad this,, loch some at bottles of whisky. This would
seer to have been shared by several of the men on the
guard. if not by the whole of them ; and on Friday
seaming polieenergent Smith, who wee on duty at
Keyhou, received information that Private James Mogg,
of the 110th common of the Plymouth division of Royal
Marines, was pint dead on hoard her Majesty's ship Hero.
I Smith oat going on board, found donned lying
sad ant far from him two other marines, James
Ryan and Robert Kluane, both in • state of 'essentiality.
Dr. Forster, the medical officer of the yard, was at once
enenunicand with, and he proceeded to apply various
nenedim—amossst others the stomach pump ; and it is
stated that hem the stomach of one of the insensible men
three plate of spirits were drawn. They were restored to
cannoneer, and sent on board the Belton* bulk, and
the deceased was removed to the bonnet. Several other
rues of the guard bail evidently also partaken freely of the
spirit, for they seemed quite meter of what was going on
atoned them, and some salmon unconscious. Late on Fri-
day evening Ryan and Kilian had but partially recovered
from the effects of their potent imbibetion. The deceased
IVY only2l llson of age. An inquest was bolds. MI Satur-
day by Mr. the Admiralty Denny Judge Advo-
cate. when the juryN unanimously returned the following
verdict :—•• That deceased, James Nogg, wasfound dead
on hosed bar Majesty's ship Hem, in the Itiptis yard, in
the bonnet of Devmsport, on the lit day of lebrusiy, and
that there is ground to believe that the said deceased died
from the effects of driukine, an excessive amount of
whisky, although then is not sufficient evident, of the
fact."

A very extensive robbvry took place from the
onagiaone Arse Ins, liuddendiold, on Saturday night.
MIN. is book cheques, NW. in gold and note., and a gold
watch end chain were taken away fmra a drawer in the 1-
morn of the landlord of the buts L The wood round the lurk
of the &twor had been cut away to wields the thieves to
pt their booty.

SHARE L1828;--(THIS DAY.)

Two o'Cromr.
The railway share market to-day, though inactive,
is firm. Great Northern stock has risen I to/ per
cent., and several of the other leading lines}} to per
cent. Great Western is dull. London and North ast-
ern stock is now quoted 1001 to 101 ; Great West-
ern, 72/ to 73 ; Midland, 134 to ; Lancashire and
Yorkshire, 1161 to 117 ; South Eastern, 861 to 1;
to 116.
Caledonian, 971 to 98 ; and Great Northern, 114

Lombardo-Venetian Railway shares are firm,
at 1 to% dia. Grand Trunk of Canada Railway
stock is rather dull, and Great Western of Canada
steady.

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