The British Press; or, Morning Literary Advertiser.
London, England, 1825-12-10 00:00:00

ILIBER.II.4N HEMP AND FLAX COMPANY.

Yesterday a meeting of the Shareholders of this Compsny took
place at the Crown and Vulture Tavern, Cornball, upon the affairs
of the Company.
Alderman 11 con was called to the Chair.
The worthy Aldermen said lie had consented to be one of the
Directors of the Company, not because of any cunnesion with the
Stock Exchange, but for the sake of Ireland. He then briefly
stated what had occurred at all the meetings held upon the subject.
Some of the beat qualified judges as to the condition of the country
had been consulted, and a voluminous report had been made, atm-
ing the increase of spinning and wear* that had taken place;
that some of the companies of the City of London were giving
encouragement there; and that the Fishmongers' Company In par-
ticulsr. had sent over the sum of 10.0001. to be employed over
20.000 acres of land, in building and furnishing employment for
the poor ; and that applications had been made to grow flax in
Limerick, Clare, and Kerry. From time to time he had received
the warmest assurances of regard for Ireland from the Noblemen
who were Patrons and Directors of the Company. [Here the
worthy Alderman read over the names of those alluded to. They
were as follow :—The Marquis of Sligo, the Earl of Shannon, the
Earl of Olengal, the Earl of Kingston, the Earl of Belfast, the
Marquis of Clanriesrd, Lord C gh, Lord Lorton, and the Earl
of Itiversdisle. He said that as far as regarded himselt he had no wish
that the Company should go on. His time was, as was well known,
sufficiently occupied, but he was anxious, fur the sake of harassed
and oppressed Ireland, that it should not end before the es perinient
was made. All the shares that had been paid upon, it sea to be
regretted, amounted to no more than 797, of which all that were
paid upon in Ireland did not exceed 42.. The whole amount of the
expenses, incurred by advertisements, &c. amounted to 3501.. so
that the expense upon each share, as things stood, was Bs. f'd. The
Solicitors, Messrs. Tomlinson,- Cooper, and Co. made no charge
whatever, although they had considerable trouble. (Hint, hear.)
If the Shareholders would wait until the meeting of Par:iament, it
it would be ascertained whether the noble patrons of the Company
would not come forward and co-operate for the benefit of their
country. In the mean time the money in hand might be put out
at interest. This would be taking advantage of every possible
chance without running the slightest hazard. If the noble persons to
whom he had alluded should refuse to come forward to redeem the
pledges they had so warmly given, then let the imputation of
having abandoned an effort intended and calculated fur the good
of their own eeuntry, rest upon them.
11r. CLAIIII (a Shareholder) asked some questions, to which
Alderman WOOD replied that the number of shares which it was
understood each Director was to take was 50, that the Directors
were on no account to sell any of their shard, whatever might be
the prospect or event ; and that each of them, in case of the break.
ing up of the concern, should be accountable far the loss upon the
shares.

Mr. CLARICE said that it appeared that the expenses of the Com-
pany would amount to between Ss. and 9s. upon each share. The
Directors, in his opinion, were bound to pay all the expenses.
(Hear, hear.)
Alderman WOOD—It has been stated that many of the Directors
had withdrawn their names; hut it is material to know whether
they hive withdrawn since the depreciation.
It was stated that they had.
The list of Directors was then read, and it appeared on itiquiry
that they had all, with only one exception, withdrawn from the
Direction as sown as the shares had sunk to a discount.
Some of the Shareholders expressed themselves with considerable
warmth as to the conduct of the Directors, which they stigma-
tised as dishonourable.

It was finally determined, by 19 to 14, that s Committee of five
Shareholders should be appointed, to communicate with the above.
named Noblemen and Gentlemen on the Subject of the expenses
incurred previously to the winding up.of the concern.