The British Press; or, Morning Literary Advertiser.
London, England, 1826-10-18 00:00:00

BRITISH IRON COMPANY.

S
tisement,
'.e Proprietors arm .._ ifiendelaied,
_onolltha,drettenrsisay.teran.ilsii
tie railed, for the putPooe of goal
'.• Codimitiee of Patine
effeminate !a Oil
maaaglat die oft-

Yesterday a Special General 3lceting of the
British In, t t;ompany was held at the City of .
pursuance of an advertisement, which stated that the,
Sad a couferenc: with the Proprietors and had resillfed
cialfienerid hlret lag should be cello?, for the pur
a ferther communication from the Committee e
cons;der of the expediency of making certain eltr
of settlement. sod to determine on the mode of
-ins of the Company for the (Ewe.,
K. SmAt.s....,Em. ta.the Chair.
Report of thi

.Mr. M
which stated,
respon4ibility I
to hove bees•

Committee
deemed it

had come,

mining emccui
which Mid

coke, of re..
pricer. The
Mr. D. Mont.
was of opiaion
aspect, and P'
could OC v

..aanoty, 11 r. .
under which it
an unrearoaable
expenditure 1,
Masehet

made. , The
amouht - -

the Contpry
Oration

that with
cone4nts,

asaurac _
pang, includi
to Ptl,:int..
leaving the
recommended
of 21. 111 s.
the sum
ficient to t
art vantage
would be
pre%ent
Atwood,
some of
Company
which a saw
also of opinion
the purest ntoti
The Report
dewed to bv -

The bEck..
by the Committee.
- -
control
were as

The
millions t..
20,000 401.
50f. in tie
shall cease
that the A
Agars of
Auditors,
vemlit.r, •
should

room by .
ll'he Cu
deed of set
three-four
A Gent,
fact, nothing
Rome time
The I'

Hesolutioni
M eeting
unless -
than t
which
consider.
Mr. PA
Mr. Wild,
there could
11r. BAIL
the Meeting t.
in such a crisis
suit pending of
He wished that
to relinquish
body of Dim.
Me proprietary.
froth their '—
whom their s
lain these points.
, a solionll mockery.

, . -
Mao abandon us. - ,
The CH arrueraw said he illeZileave the dower
at the Committee, though he oblielelleredollll2l6
ales bad left town, and imperious eisiolasampidee it=
lignatiOn of other;. , , ~..,, a 0,,,,, ...,,,,,
illr. BAILEY then said that. he •,,jelpitegla ew
hi
Chairman of the Committee. If ahv • ilblat-Saisf SOF
upon the subject, the Committee mull. or beamed It
Mr. Sit EA nes, on the part of the Divoeseekesid that la the
advice of the Committee that a change eistlobkaileirphroatie Olt
section, in order to re-establish the eonlithrettfilifilla
Those named to succeed them tree men of as great taleet.
great respectability. 1 here was but one motive en.the pars of, e
Directors in tendering their resignation—that of restoring malls
deuce, and giving satisfaction to tie Proprietors.
Mr. BAILEY said he looked for a reply to the Committee, amt
not to the Honourable Director who had just sat dole; WIRIIIITib•
borer was somewhat irregular. With respect to the chin be to '
wetted it, because they patted with ,k mookropeekbie
whose only failing visa a want of energy. • Be had beeed I*
jou canvassed over and over again, and ht eoeld say that
was Imputed not to the Directors generally, bet to the
Pwectots. He had it from the lips of a 01,, tbasgal=
know of tine-bundreth pars of the truswoodeas of the Company.
- A PROPRIETOR said, that Mr. Bailey la his List observation
had fully answered himself.
Mr. ,PaLmnit, the Chairman of the C ornicentre,
use old, that thee
was but one feeling existing amongst the sad the Di-
rectors—that of restoring confidence, to the idiom Theo woo
no desire to substitute particular nani6 in the room of them Direc-
tors who had resigied ; and for his own pan. be mead dealers,
that nothing but the most anxious y.resaing amid harsiodoced him
to become a Director. The Directors had .volortafill liereds is
order to promote the benefit of the Proprietor' at large ;en of thew
nominated to their room, lie believed any or all of than would
willingly give way,
.if others more competent were proposed to the
consideration of the Meeting. (Hear, hear.)
Is reply to a questioo from a Proprietor, h..
Mr. SUEAIIES observed, that by the Deed 4111 Sgrespait the •i,.
Directors were authorized td fill all vareinefil its the reisian, rod
.
it was now proposed to take that power away, sad leaelkelt ilei this
Proprietors. ...
0
Mr. Bo* nitro proposed, that the dam Dieseteas. oodia.ao„,
+
'wally out of *fee should not be eligiblefor rooleetfirailil am
?
pal'.
After some discumion, this was negatived. i
,
A series of Resolutions, comprising the alieratium wo lave
enumerated, and various others of minor importseee, wrierthen
,
agreed to unanimously,
Mr. PALMER said, that a fait copy of the Reads*** *gotta '.
left at the Company's office, for the inspection of thaP •
Mr. Moxow then addressed the Cheir ta the lOW r : ' s-op
--.
•
" Before we bury the Ohl Company, and bringiota w As '
new one, I thiuk a little may be said of ties
•
have made, with regard to this Cdospat7,l,....tmast.
.
prevematioes. (Hiatt.) Of all the •
pahned upon the public, the ' eritish I,e,
..,
of the most swindling character."
Um a snot tremendous uproar took place. Cries if " ilea aa,
loos," " Indecorous," and " Highly iinpreper," Owed heti all
parts of the room.
_
A PROPRIETOR proposed, that Mt. Merton should. net be ear. i
fend to proceed if he used such languid* • There pomp.
found a mere respectable body of goad.* Asa the Oeimogpli
that Company. •
Another Paornixvoirnioved, as a•RysOution, that *eau&
ing were of opinion that the laniparal:X. Mem wen Ifigid*
indecorous, which was carried by o •
In the Midst of all this Mr. alotrie wan endimedaring to bi- '
heard in explanation, but in vain ; the tide em toe *sag eosins
him, and he was forced to give way. - ' - .
Mr. flessnes said he was sorry to have beard each itsalleae-
SiOrl from the lips of Mr. Mozon and he deem* hoot it 101
escaped him inadvertently, though it was in goallip at huts der:
portant* to the Directors. lie could Dot help obeervinei=lt,
Morton held a pamphlet in his hand which was NB of f ,
anti against the author of which he (Mr. Shaun) had Maimed •
prosousion. No person bad been more calumniated then bloseß,
we parties whom file. Meson /ell knew.
Mr. Illowow—l am no partial).
Mr. Sinkage entreated. the Proprietors se Warren Moue. es .4
he believed he should be able to refute any thing might say it
founded ,-- ' _ .
' pamphlet Ia his hand, which was

r (JIIIEi read the Report of thi Committee of Prepaleties. . il
ated, that with respect to the Cordgreaves property Meer L .
rility hod been thrown upon the Directors than ought faieht h I
been. impesed on diem. Since the. former deport d the ./., il
.re iron bed risen in value 20s. petton ; and the Committee
1 advisable, therefore, not to dissolve the Company. They 1
le to this sasolutioo unanilluntelfr 00411 tp the Mimes of
ipcculationg, the large expenditure (amounting to se feet) st. .
ul been made Ili the Abersychan proven* avi the' dad..
realizing the tummy agsio• by a safer Ow* et'the altemee i 1
The Committee bad ordered. mammy of the revery, and .
Mutrchet was -oppoioleti for tkat purPsy". -Alr, liftisebet
yieion that the Abeespeban progeny teritOrfatimeable
and the situation of the blast furnaces eneAlhodoest thick
selected on,the estate. With
:respect to tale puma paid for a
, 11r. Ni umbra was of opinion, not haviar seithibeneseemets
hit:h it had been formed, ths &a 04,1pc Vide /PK was ead
isornble charge. ;It had beat aid :that ILlttele lifeleeSeri
tore had been int-amed .jplsorke.gilte fepignittett I but
cooujuatioe t wee of opinion that no wevagessety lead ben
The Committee were aba of,o4plaien ' capital a! ale
of 214,0001. would be requ to
.osesserni of
if
wally during the next eigateln ippoiller.44 Au rik-
of which time they were haeninidint :jilt_ fhb**.
ith the Merit thee); . Itz- the - .if heir
ft , to be pro at that , utpalit
a totally di etent aspect. The l.•
ncluding the expensei oe,tke cti d
ip
rz
V., while the cash, bills, &c. amnia
the sum of 62,011. upprovided fon. ri
ended a call of 21. 10s. pot. ohm, .a. -disli
LOs. pgr shine at the expirmum, of. eta ' 1 whith
rn or twonor. wrintd be- reined.- sottish.. he
.egf,
&
o enable the concerns of the Company to with
age ft,r the next six months.. To d dm
be to make an uncalled for sacrifice of.. ' arsine
cii-mnstancee I whereas, if the suit.: . Miss! Air•
I, the return of that money might supersede the necamety of
f the calls. In the, marn%ernerLt of
`!hie
opinion of the -
ny reductions had hcen ,it ftMn tr 7, tjtv
i saving of 4,0001. had been effected._
opinion that the Directors had allidang .bets', be .
eat motives. . . • -IL. tr.
rt Repo appeared to give very great satisfaction, and Mme or.
o be received.
SEC etwaur then real a variety of alienable*, migrate
Committee, to be made in the deed of setdementjhr the
eof enabling, the body of. Proprietors to hav 1 ter
over the management of their 'faint. The an..
I follow :
capital of the Company was no longer to pro
s in 20.000 1001. share::, as before, but of one Ii
401. shares, and no Proprietor to e Roble to pity
the whale upon a single share. That the present
ease to continue in office, with the exception of ognd
c Auditors shall also go out of otter, and that Mkt*, the
of the Company shall be confided to nine Mecum and three
int, who shall commence their duties on the 7th of peat No-
r, and that three of the Directors and one of the Audio:lry °.
Limy year go out of office, and others be stinted la. their
by the Proprietors .. .
•
CHAIM:3IAX stated, that as these were attereekan, in Itte
f settlement, it was requisite that they shoirld be agreed to lry
fourths of the Proprietors.
knifeman said, thi.t as these alterations .a flf;ef in priiiix' ..*of ,
nothing less than a new code of rerdstioner. he' hoped that
time would be given to the Proprietors to'conilitter them: .
CIIAIRSIAN Said that they were all throvflObstoileashape of
utions, and would be then proposed for the 'adoplietrat the
lag; but even though acreed to, they mild be ottaherect
i sanctioned by anntlitr meeting, to be *lad within-vet them
twenty days of that one, . and not less thin feirokardays.
I lie thought would atibrd ample time Wil the Proprioion to
her of the Resolutions.
PAI.3IF.It said that the alteritiosit bodilseeu submitted to
tVild, who had framed. the Desd.of ..edemas, and ereossrse
could he no apprehension that-dirty were inodieintent sth it.
BAILEY said it was a subject of the tirlitlinikettatice 4
letting to sieertain why it was thatthe
ch a crisis of their offal& wad* presedt.• when there dagitir wi!
,ending of the last importance to the welfare. f the fllenfatif-
-14
ished that Borneo( them amid Mats why they same.. a
impish their toast. He thought it aseetaserso a
of Directors whose reaneetabifity-heillitandscesi
roprietary, should that at epee resign, nadjidlisem
their trust and responsibility. Ho alseodahed . ogr
n their successors were mated. If the Mestizatla so* NM.
these points, he could consider it in se oast iirodierit