The British Press; or, Morning Literary Advertiser.
London, England, 1826-09-07 00:00:00

IMPERIAL DISTILLERY COMPANY.

A Meeting of the Shareholders of this projected Company was
held yesterday at the offices of the Cotnpany, in Mark-lane, for the
purpose of inquiring into the prospect, of the Company.
(In the motion that the Arouse in the dxed of settlement he read
as respects the taking the chair.
Mr. Scums said he protested against any perusal ref the deed of
settlement as it might mfer that the Shareholders. by such it step,
considered themselves as being bound by the deed. The Company
was an Mewl one.
Mr. Cyanic and others were of a similar opinion.
Mr. ASTON (a Director) said he was only anxious to go on re-
gularly. He begged to state that he was the only Director who
was present, and he hoped that some indulgence would be afforded
him, as he was not supported by the other Director..
Mr. CLARK asked the reason of the absence of the other Di.
rectors ?

Mr. AXTON said he could not inform the Meeting on that point.
Mr. P. Moore had just sent a note. requesting to know at what
time the Meeting wan to take place, but the person who brought it
ran away without waiting for an answer.
It was then moved and seconded that Mr. Aston take the Chair;
and the motion being carried, that gentleman took his sea,.
The CIIAIII MAN. after a few oleoervatiomi, read the Report. It
commenced by stating, that the Directors had no wish to conceal
anything, and attributed the various difficulties under which the
Company laboured to the nonpayment of the calls made, and
thereby preventing the Directors from going on with the concern.
The Directors had, from the commencement, thought the share-
balers would be highly benefitted ; but as the calls were not paid,
it only remained either to procure the necessary funds to carry the
Company on. or to dissolve it with credit. The Directors had re-
ceived no fees for their attendance. The Directors entered into the
concern with a firm conviction that a national benefit would accrue
therefmm, if carried on with spirit. The Directors had hoped that
they would have been supported, and still trust that they will be
enabled to goon with the concern. The monopoly existing in the
Imminent of distillation is an evil that affects the public at large;
to obviate this monopoly the present Company was formed. The
application for shares am•mn'ed to 30,000—the number to form the
Company was 12,000-4,000 were reserved for privies more inte-
rested in the trade. 220 were reserved as qualifications of the Di-
mann', and 7.780 were divided between the applicants. The
Directors had never contemplated that airy would bare to call
for the whole teo/. on each share. As the individuals who volun-
tarily gave their *suction to the undertaking were highly
'collectable, t' e Directors felt themselves fully authorized to . nter
inio the engagements they have done. In the early stage of the
proceeding. the Directors were in treaty with the proprietors of an
estate, but the cast of which was 1:d1.0001. If the Directors et:W(l
not have purchsesd a property below that sum they would have dis-
solved the Company immehately. The Stanstend Dattillery, at
thin 'wind, was offered for sale at a sum not exceeding 30.0001.
and die Directors thought, with an outlay of 15.111101., all the ne-
cessary improvements would be completed. The repeal of halt
the ditty on spirits convinced the Directors that, under such fa-
vourable circumstance•. the Shareholders would have come forward
to support the undertaking.
The Scrip had produced
The first call
And the last only

.C 11,465

5.:w0
2.110

Making together . 19,105
The small amour t receivzd crippled the Directors : they them-
selves have been the greatest sutitrirs.
The Direetors were convinced the concern might be carried on
with advantage. The capital nevesaary for the undertaking wriu'd
be 100.0001. Towards that capital 19,1031. had beat received;
there had been expended 201411. Os. Id. ; 211.73 W. 11. i. 9d. are "ue
fur contracts, and an additional expenditure of 2 or nom would
render the works complete. Toe question for the proprietors to
decide was, whether they would carry on a concern which would
yield 10 per rent. per 'onion, or whether they would sacrifice what
they had paid, and be liable to leather calls if any deficiency should
arise by the sale of the property ? If the previous course be adopted,
the Directors recommend that the shares be reduced to 4000 of 251.
each, toe whole to he paid on or before the 30:11 Sep:ember, without
prejudice to the forfeited shares. The necessary Milo would be
thus raised to carry on the concern. _ _ .

l'he works the 11,reetors had purchased were stall, ienily eaten.
.ive to produce 210 000 gallons of P pirit antoinlly. which would at.
turd a profit of about 20.000/. The items of rrccipt and expentli.
lure will be found in the lollJwing statvinent

BALANCE SHEET.
ItECCIPTS. LIPIENDITUItZ.
.C. s- d. X. s. d.
Received on sc. Paid for the pro_
count of Shares, petty, at Stas-
es above stated 19,105 stead - - 15,0e4S 13 4
[Sorrowed front Purchase of Shares 1,643 12 IS

51mars. Perring 2.000 Commission on C.o. 245 12 6
Do. do. - LIMO Solicitor's Pill, on
Do. from Directors 571 6 6 account - 500 0 0
Sslariev . 926 19 8
Paid 11111 in favour
of the Bankers - 2,000 0 0
Cash in BaiikLre
hand - . 25 5 0
Tradesmen's and
other Bills . 2,255 12 6

6
.1:22,676 6 £22,676 0 6
The debts to which the Company are liable are these :
.£ a. d.
Remainder of Purchase-money of Slanstead Estate 14,000 0 0
Interest at 4 per coif. - - - 796 17 6
Balance due to the Bankers - - - 911:1 12 3
Sundry Debts - - - 0.732 5 0
.Iftries . - - - 1143 5 4
Other Liabilities—in all amounting to - - 1,373 1G B