The British Press; or, Morning Literary Advertiser.
London, England, 1826-09-08 00:00:00

THE BRITISH PRESS.

The same Gentleman said that he held in his hand a Report for
August. in which the Director* state. that after full investigation
th y paid the money to Mr. Atwood. flow could they recover
against Mr. Atwood in the face of such a declaration ?
The SOLICITOR of the COMPANY said that there were circum-
s•ances connected with that Report which still induced Counsel to
be of opinion that Alr. Atwood must be defeated.
In reply to a question from a Shareholder,
The CHAIR MAN said that if they succeeded against Mr. At
wood, they would recover back the 225,0110/. which they had paid ;
but if they filed in the suit, he could not compel them to pay the
remaining 330.0001. of the purchase money.
The resolution was then agreed to.
The Report of the Directors was then read, which recommended
that those Shareholders who ahnuid not be able to pay up the next
instalment!, should not lose all they had paid if any method could
be pointed out by which an equitable arrangement might be entered
into.
Dlr. 31Esssen said that on the 30th of June, according to the
Report of the Directors, there was sufficient property to pay all
claims, and if that was still the cue, he thought the most adviaa.
ble plan to be pursued would be to dissolve the Company, and
take their chance for the recovery of the claim against Mr. Atwood,
which would give each Shareholder something tier share. For his
own part he had psis! :10/. on every share he held, but he was re-
solved to pay no more.
A SIIA EMOI.I)En asked if one of the estates was not in pawn.
The Cirantstaw—No.

Mr. BAILEY asked if nu part of the property was mortgaged
or isle fired.
The (llamas* replied that 18,0001. was due to Messrs. Wil-
liam• and Co., and that a small estate had been offered as security
for the money, but that the backers were satisfied with the respon-
sibility of the Directors.
Mr. THOMPSON thought the most advisable course to pursue
would be tile revival of the Committee, to confer upon the hest
means of effecting an alteration in the whole system of manage-
ment. The Committee sure-elected ought to be instruct' d to give
an estimate of the presenkyalue of the property, as also f the an-
nual average profit that might be expect-el it the Company was
proceeded with. It might be as well, he thoughts to have only six
or even four Directors as sixteen, and they should hold frequent
communications with the Proprietor*. The Committee might alma
inquire into the best mode of raising money, and of dealing with
the forfeited shares.

The said that it would be two or three months before
they could have a report of the value of the property from Aberyat-
with alone, and in the wean time the means were required for car-
rying on the works. The Directors had made a call of 2!.
and if that was not paid up in the course of next week those shares
would be declared forfeited.
A SHAREHOLnER said that those shares on which SI. only had
been paid were not yet forfeited.
The CHAIRMAN said that they were not worth forfeiting, as
nothing could be got for them. (Hear, hear, and cries of shame.)
SHAREHOLDER—IIIy not have sold them when they were ass
premium ?
CHAIRMAN—There was then no occasion to raise money.
SHAREHOLDF.II-ISith what justice then can you forfeit shares
on which 304 has been paid, and not forfeit those upon which
less sums have been paid? (Cries of shame front all parts of the
room.)

A SHAREHot.nrn,who had paid 30/. upon all his shares, moved
that all the shares should be forfeited that had not paid up the last
and all previous hutalments ; and declared at the same time
that he would not himself advance another futhing upon his own
shares.

A SIIAR slum-DER naid that 51r. Martineau, the brothernin-law
of Mr. phiiii, Taylor. had signed the deed of settlement for 300
shares, 150 of which hr had sold, and he now held upwards of 100.
upon each of which there were due instalments to the amount of
221. 10.. When he ascertained that fact he thought it was high
time to sop throwing away his money.
Mr. Tar I.hR said he paid 1,2501. upon his shares, and should
not puy any more.
The CUAIRMAN—your shares are forfeited.
Mr. TAVLOR--What ! have you mit law for one person and
another for another? I have paid 251. on each of my shares, and
they are the only shares forfeited, although others have only paid
51. and 101. Thin in because I wished to investigate. (Tremendous
cries of " Shame !") The Chairman said the Directors had a dis-
cretionary power as to what shares should be declared forfeited.
(Cries of " Shameful !" Scandalous " Grossly partial !" and
" It is not to be endure.' !" from all parts of the nom.)
The Secretary then read the number of shares which had been
paid upon :-
311 Shares, upon which 51. had been pail.
215 111/. --
610 151.
150 201. a--
668 25t.
4012 30/.
15.000 321. lOs.
Mr. Tay bou—Vottr own Solicitor informed you that you could
not forfeit those shares.
CHAIRMAN—No.

Mr. Tars.ort—lie did, and he is now present, and I call upon
hint to deny it if what I say is not correct.
Roth of the Solicitors of the Company were present, but neither
rose to deny the statement.
Sir. BAILEY' declai ed that the proceeding was the most scanda-
lous he had ever heard of. Not a single share had been forfeited
except those of Mr. 'Taylor, who had paid 251. per share, while such
numbers were defaulters at the very first instalment. (Cries of
" Shame !") It was only done for the purpose of having a good
dividend at the winding up of the concern. (Hear, hear, hese.)
Slr. THOMPSON thought such conduct on the part of the Direc-
tors most gross and unjust.
The CHAIRMAN said there was no use in forfeiting the shares on
which only St or 101 had been paid.
A SHAREHOLDER—No one share ought to have been forfeited,
in preference to ano.her.
Mr. TAYLOR said he had asked the Chairman of the Committee
if the Proprietors would he in a better situation when the call made
last should be pail than they were at present? to which he replied.
" No, it would all go to the dirt, but it was necessary to go on."
(Hear, hear, hear.)
Mr. MUSCIIET said the Chairman of the Commluee was not
present, but no conversation of the kind had taken place in his (Mr.
51.'9) hearing.
Mr. TuItNEU said, that all the shares which had not been paid
upon ought to be forfeited. It was true that the man who had only
paid 51. got the advantage in such a proceeding. That might have
been avoided, but it was now useless regretting the past. If the
Company was to he dissolved 'hose who had paid the last 2!. 10s.
ought to have It back again. 'Under all the circumstances of the
case, he should move that It be referred back to the Committee to
consider whether it was proper that the Company should be dis-
solved or not ; and if not, as to a proper scheme for its future ma-
nagement.
Sir MESNARD moved as an amendment that the forfeited shares
*Lind over until the Report of the Committee.
Mr. R. TAYLOR advocated the forfeiting of the shares, upon
the principle that Thom who had not paid up were mere speculators,
and not bormilide Proprietors. (Hisser.) All those who hissed were
r C71,01/11 of that description. (Hisses and laughter.)
Mr. MESNARD said he cams into the ,Company as a bona -fide
Proprietor, and not as a speculator.
After a great deal more of desultory conversation, Mr. Turner'.
resolution was agreed to,.and that of Mr. 3lesnard was negatived.
A resolution was also agreed to, recommending the Directors to
proceed with the forfeiting of the shares. At least we believe it was
agreed to; but so great was the confusion, and so numerous were
the resolutions moved from all quarters, that Mr. Deward and
other Proprietors left the room, professing total ignorance of what
had been at last agreed to with respect to the forfeited shares. A
motion had been previously made that all shares not pod upon in
fourteen days should be forfeited, but what became of it we could
not ascertain.'
It was past five o'clock when this tumultnous assembly t rol e up

Died, at Tabaga, near Panama, on the lit February last
Captain James Ramsay, of the Colombian Navy, eldest
son of the late Rev. James Ramsay, of Glasgow. The eir.
cumstance attending the death of this young officer is
peculiarly distressing, having been assassinated by his
gunner, while asleep in bed, on board his own ship, the
Guayaquilina : the assassin instantly terminating his own
existence. Captain Ramsay was a brave and enterprising
officer, and having been engaged in several actions, attracted
the notice of Admiral Ellingsworth, which was the means
of his becoming known to General Bolivar. His brother
officers admired him much for his gallant and seamanlike
behaviour, and respected him for his amiable private quali-
fications, and they join his relations and friends in deplor-
ing his premature loss.
On the afternoon of yesterday se'nnight a very fine cow
belonging to Wm. Lucas Shadwell, Esq. of Hastings, was
killed in consequence of having betrayed symptoms of
hydrophobia. The animal was bitten on one side of the
nose about three weeks previous to the above date, and on
Thursday, August 24, refused to take either drink or food,
and when water was placed before it, seemed greatly
agitated. The sight of a dog occasionally put upon a wall
excited the cow to acts of violence, and she would fre-
quently foam at the mouth, and run her head straight for-
ward against what might come in contact. Several days
before she was slaughtered, she became exhausted, enra-
elated, and in a desponding state. On dissection, the wind-
pipe and the (esophagus, with the muscles serving the pur-
poses ofrespiration and deglutition, presented not the smal lest
appearance of inflammation or morbid affection. A dog,
supposed to be rabid, was destroyed at Hastings on Wed-
nest ay Int.—Lewes Journal.
Aof r.—Partritlrs are very numerous this season, and
unusually strong ; the o:d sportsmen say they never recoi-
-1 lect then. so well on the wing, in consequence of which
much fewer have been killed than was anticipated. A
motley group sallied forth on the morning of the lit,
through the rain, bearing the outward appearance of 1
sportsmen in uniform, but, altar toiling all day, returned,
having taken nothing.