The Northern Daily Times.
Liverpool, Merseyside, England, 1856-07-16 00:00:00

From the Mona's Herald, July 21,c1.

In pursuance of a ptiblie notice published in the insular
newspapers. there was a Very numerous general special
meeting of the shareholders in the Castletown Steam
Navigation Company, held in that town ou Wednesday
evening last. There were :hundr• ds assembled on the
Occasion. The notica and other documents published in
the papers originated _ with the Liverpool shareholders ;

and they represented the affairs of the compaj►y as in a
ruinous condition and thus excited the attention of those

interested in the steamer to a high degree, and they all to
a man turned 'out to attend the meeting. The meeting
was organised by calling Mr. Scott Wallace (a large
shareholder); of Leamington, to the chair. The chairman
at first rather declined the honour, but at length consented.
He said that the Liverpool shareholders wished to obtain
an exposition of the affairs of the company. They had
laid out their money and were looking for some equivalent,
and he hoped the meeting would try to adopt such mea-
sures as would return some dividends: They had met to
co-operate n ith each other to devise the hest" plan for
conducting the concern; and he hoped a lucid statement
of the affairs would be laid before the meeting. He
would call on Mr. Diddams, of Liverpool, more fully to
state the object of the meeting:
Mr. Diddams said that they cane from
.England with
no hostile spirit, but as brother shareholders, to investi.
gate the affairs of the company and know how they were.
From the reports, he feared the boat was going backwards
instead of forward. He conversed with Mr. Shiminin,
and then the first meeting was called in Liverpool, but
they could obtain no information of the state of the com-
pany. He applied to Mr. Eewley, the agent at Castle-
town, and learned that there was a large d
the company, but he did not get the particu
had a subsequent meeting, and he wrote again to Mr
Itewley to get. a copy of the Deed of Association; but he
got nothing but a series of resolutions which had been
passed by the company in Castletewn. They then sent
01107 a deputation, and they saw Mr. Wilby, one of the
directors, but they could get to see nothing but a freight
book, from whiCh no information was conveyed as to the
present state of the company, as the balances were not
brought up since December last. The directors said they
were doing better than-;;;:anerly, but if_ they wen

against

half what they had_ been losing before, they were ctl.

better, hut still not doing well.

There was now a noiy interruption, and Mr. Diddams
sat down.

The Chairman said he thought it would be well for the
directors to give a taterneilt of the affairs; and then they
might consider what was proper to be done. l _

Kir. Burman said that the resolutions and notice tail-
ing the meeting should be read before anything else was
done.

The Chairman now read the circular and the resolu-
tions.

Mr. Jones said that by these documents it appeared
that the Liverpool people knew more about the affairs of
the company than was known in Castletown ; and yet
they carne asking for information.
The Chairman now moved a resolution, that some one
of the directors lay before the meeting the present fiscal
condition dt the company.
Mr. Burman replied, that last autumn all the accounts
were laid before a general meeting of the shareholders,
but they then thought it too expenSiVe to print the same
and send them out as circulars.
Mr, Jeffcott said that the meeting was called for one
specific purposes vie., to determine whether the boat was
at once to be sold and the company wound up, or other-
wise. If instead of this the directors had been required
to show the balance, no doubt they would do so.

The Chairman thought that as tradesmen they ought to
see the accounts. He regretted the Liverpool resolutions
ever appeared in print—it would not tend to inspire con-
fidence in the company. Yet every shareholder had a
perfect right to know the state of the concern, and he was
entitled to such information. He thought the first resolu-
tion should be to determine whether the boat be sold or
not, as the meeting was called for that purpose.
Mr. Diddams said that the Liverpool shareholders were
in the meeting's hands, as they were in a lean minority,
and if the boat was not to be sold, then they must submit
twa majority. He agreed that the first motion was to
sell the boat.

Mr. G trdiner said that a deputation of three came over
td the island recently, to see the state of affairs. They
saw but one book only, and there was no posting of the
accounts since the end of last year. He now moved that
the boat be sold immediately.

Mr. Diddams seconded the motion.
Mr. M‘Meiken moved as an amendment the following,

That the meeting is of en opinion that the Ellan Vannin has not
had a fair and so,isfactory trial, inasmuch as the late Liverpoc 1
twent of the company, being engige,l in other and more lucrative

employment, did nnot ghte that undivided attention, 83 much

required in c

rying out the interests of a new company

Mr. John Shimmin, of Liverpool, thought that such a
sweeping denunciation should not go unanswered. He

could show that he did his duty
but could it be expected that he would hire office, clerks,
expend his time, and pay taxes, &c., for .t'loo a year?
But he defied any one to show that he had neglected his
duty.

as an agent;

Mr_ Taggart and two other tradesmen of Castletown
came forward and said, that they had caliel for many
timeB and on divers occasions at the agent's office in
Liverpool, and never found Mr. Shimrnin or his partner
in; and there was no one but a small boy to keep the
office, who knew nothing of the business inquired after,
and could render no aid.

Mr. Shimmin replied at length, alleging that the Eng-
lish shares were taken up at his solicitation, and he felt
in honour bdund to see his friends saved harmless. That
he had tried to get information of the state of affairs, and
could get none. That he was not actuated by any vin-
dictive spirit, as the principal meetings of the shareholders
in Liverpool were held before ha left the agency. That
the company never lost five shillings by any neglect or
omission of his ; and that he felt that he did not deserve
such treatment from the people of Castletown.
Mr. M'Meiken made a kindly reply, and said that it
could not be expected that for elOO Mr. Shimmin could
bestow that attention on the affairs of the company, such
as a rising company required.

The amendment was now put, and carried triumphantly,
there being but three hands raised against it, while
hundreds were raised for it. The main motion was then
put to sell the steadier, and negatived—hundreds against
two.

Mr. Burman laid a statement before the meeting, taken
from the books of the company, showing that for the five
months last past, the boat had far exceeded in its
profits the receipts of the corresponding months of last
year.

- The next resolution was moved by Mr. Jeffcott and
seconded by Mr. F. L. Gelling, and was as follows:

That the affairs of the Company have anumed a new and more
favourable aspect, and that the opinion of this meeting is, that the
resolutions passed at the general meeting of the company held in
December last, be carried out—namely, that the vessel be con-
tinued on the station until Octob r next.

This was carried unanimously and with rapturous
cheers.

The 3rd resolution was moved and seconded by the
,me gentlemen, and was as follows :

That in the opinion of this meeting the statement contained
in the notice or advertisement, without any name attached thereto,
which appeared during ►he last week in certain of ►he insular
papers with reference to the state of the affairs of the Castle
town Isle of Alan steam Navigation Company, is untrue and not
founded in fact; but it is the opinion of this meeting and the p.ms-
pects of the company axe much m)re favourtOle than tney have
hitherto been.

This being put by the chair, was carried rapturously
and unanimously.

Messrs. Jeffcat and Gelling in advocating these resolu-
tiOns, made most spirited speeches. They reprehended the
conduct of the late Liverpool agent in the severest manner,
declared that documents more invidious, unwise, intem-
perate, and libellous never appeared in print, than those
published by the local journals as emanating from the
Liverpool shareholders. They expressed their astonishment
in the strongest terns, that the conductors of the Manx
journals should ever have admitted such libels upon the.
business of a company into their columns; and they de-
clared that if commercial credit was thud to be destroyed
by the public press of the country, it was high time for
business men to redress themselves:

There was a decided animosity shown towards the late
Liverpool agent, and considerable disorder occurred in
consequence ; but we are happy to say, that the meeting
passed off without riot or outrage.
The behaviour of the English shareholders was most de-
corpus and gentlemanly ; and the chairman- acquitted him-
self admirably.

A vote of thanks to the chairman for his able and
impartial conduct in the chair having passed unanimously,
replied :—That he was much gratified with the results of
the meeting. He was quite aware of the hard struggle a
new company- had to make to establish in a time and
country of such rivalry; but he thought it would be very
unwise and improper to take this boat off the station at the
present time. She appeared to be gradually overcoming
her first difficulti9s, and establishing a business. He had
no doubt the directors were doing all in their power to
place the Ellen Vannin in a satisfactory. position. What
had been laid before the meeting had Insptred his hopes
for ultimate success, and the good prospects were before
the company.

Lord Woodehouse was received yesterday
Oun RussrAN Exvov.—A letter from St. Petersburg, of
says,: s:ror Alexander, in the Palace of Tsarskoe-
tbhyetshteh, E
Seloe, at a private audience. Before returning to St.
Petersburg, his lordship was driven in one of the state
through the magnificent grounds which surround
—The Hanoverian Ministry has experienced
carriages
the palace."AN e y
H R
a great check in the Second Chamber, which has rejected
the modifications of the constitution of 1849, proposed by
government.
THE BALLOT.—Within the last few days a successful
canvass of the liberal electors of the City has been made
in aid of the funds of the Ballot Society. Tha list is
headed by Baron Rothschild. M.P., with X5O,
and
loed by Messrs. Kirkman, Hodson, Raikes Currie,
mtpl.
w
Ingrain Travers, W. J. Hall, T. A. Mitchell, M.P.,
Frederick Pattison, &c., &c., for handsome sums. Mr,
Henry Berkeley, M.P., has given notice that if his
opposition to the Corrupt Practices Prevention Act is
unsuccessful he will move ballot clauses in committee.