The Express.
London, England, 1850-07-02 00:00:00

WINDING UP OF RAILWAY COMPANIES.

;THE MADRID AND VALENCIA RAILWAY.
Yeeterdsy very considerable interest was mani-
fested in eounexion with the affairs of this urdertaking, in
which several hundred persons are interested, on the occa-
sion of the hearing of a charge brought in by Mr. Quitter,
the official manager, at the direction of the Muter in Chan-
cery Blunt, against the directors of this company, calling
upon them tc account for the flies entreated to them by the
shareholders. By 10 o'clock the master's court was crowded
with the perdu interested. The charge of the official
manager was as follows
" In Chancery.—ln the Metter of the Joint Stock Com-
panies Winding-up Acts (and of the Madrid and Valencia
Railway Company.—l, the undersigned William Quitter, of
No. 57, Coleman-street, in the City of London, accountant,
the oflici.,l manager of the said Madrid end Valenti* Rail-
way Compel, do her.t.y give you and each of you notice
that, as such official manager, I have, nader the direction of
John Elijah BMA*, Esq. (the muter of the High Court of
Chancery charged with and acting in the winding up of the '
affairs of the said company). opened an account in the books
of the said company and between the said company and you,
the undermentioned contributories of the said com-
pany, in the several and respective characters of
....rectors and members of the committee of management
as .I contributories of the said company, and in which said
a. count I hove debited you the said contributories, in the
ettaracer afor,said, with the sum of 106,0301., being the
amount of the deposit of 21. per share received by you, or
by your authorised agent., by your order, or for your use,
vu account of Mares in the said company; and for which
sum of 106,0301. you are jointly and severally liable to see
count with the said company, and in pursuance of the said
Master's directions in that behalf, this day given me, I give
you and each of you further notice that if you or any of you
defile to object to the said entry, or to bring in any matter
or sum by way of discharge or credit against the same, yen
seer( gutted to bring in and substantiate the same before the
said Master, at his court in Southampton-buildings, Chan-
cery-lane, en Monday, Ist day of July nest, fit.:. ; and
further, that if you do not object to or appeal against the
said entry within the time limited by the act ot parliament,
I shall object to the acid entry and debit being afterwards
questioned —Your obedient servant, SUAHPI. Filen, JACK..
son and NitWBOLD. solicitors for the out -Ml manager.-
Detel 25th June, 1850."—Addressed to the directors, mem-
bers of committee of management, &o.
His Honour, the Muster, proposed to take evidence in sup-
port of the charge, so as to make the direztore liable ; and
accordingly Mr. Quilter, the official manager, after producing
the It dors and books of account, proceeded to prove the re-
ceipt of the moneys with which the directors stand earged,
by milling evidence one of the clerks of Messrs. Master-
men, the company's betoken, who proved that between the
10M of October and the 27th of December, 1845, a sum of
106,0301. was pail into the bank by way of deposit to the
credit of the Madrid and Valencia Railway Company, and
entered to the account of Wars. Chadwick, Colqubouo,
and Krill, as trustees. Oa the other aide of the account,
payments were entered to the extent of 90,3221., Mending
mutton money and investmects in stock, leaving a balance
of 11,8391. in April, 1846. He also proved from the books
that the caution mine, paid into the Bank of Enefond was
37,1201. with 661 13s. invested in Exchequer bills in Oct,
IB4i. He produced letters, one dated 9th Oct. 1845, opening
en account with the bank to the credit and by the order of
the three trustees ; another dated the 21stOatober, 1845,
f:om Chadwick, Colquhouo, and Krill, and from Monteflore
and Waley, giving directions to the bankers to honour all
cheques signed by theta of them and the secretary, Powell;
and another letter to honour cheques signed by two only and
the secretary, Powell. Subsequent letters to honour cheques
drawn by members of the provisional committee were also
produced and put in, dated respectively March 16, 1846,
Oct. 4, 1843, and May 2, 1849.
A clerk from the honk of Currie and Co. proved that
from October 10 to December, 1845, a sum of 42,9001. was
received b that firm on amount of deposit on the
Madrid and Valencia Hallway, and entered to the account
of Chadwick, Colquboun, and Krill, as trustees of which
39,0001. was non after drawn out and paid over into Muter-
man's, where it formed part of the 106,0301. He proved the
opening of the account by them three gentlemen.
This section of the proceedings having terminated at one
o'clock, his Honour, the Master, adjourned until two o'clock,
at which hour • perfect torrent of allottees and attornies
entered the place of meeting, about 1,400 shanholders hav-
ing been summoned to show cause why, as original allotteee
of different numbers of shares, they should not be placed on
the list of contributories- To facilitate the busies'r and clear
the court, the Muter directed that all those who appeared to
oppose their being placed on the list, should eater their
names in the appearance book, and their oases be adjourned
for hearing to • future day, while all those, and there were
some hundreds, who did not Inallif on their names being
called out by Mr. Edwards, the chief clerk, were placed on
the list as liable without power to dispute the same, miler
by special leave in the Court of Chancery. This proceeding
occupied until four o'clock_ at whisk hour .the Master rose
to attend the House of Lords.