The Sun.
London, England, 1852-12-20 00:00:00

and not of any deserts or merits of his own. In retir-
ing from the position of chairman to this company, he
must return to them his best thanks for the considerate
and kind co-operation which he had uniformly received
from all, under circumstances sometimes of very consi-
derable difficulty; but which kind co-operation had been
unvarying, and never for one moment diminished, and
which had even often induced them to receive from his
lips statements which, although it was his duty to lay
before them, he was not always prepared with evidence
to support, but which they were willing to take on the
credit of the board. The causes which led him to re-
tire from the position now occupied by the chairman
were of no light moment. Nothing would have induced
him to give up that position, which he had held for
more than 15 years, but the circumstances which were

pressed upon him by those whose advice he was obliged
to consider and listen to ; and although he no longer
stood to them in the relation of their chairman, to his
latest day, whatever services it might be in his power to
render them would be at their command. (Loud cheers.)
He might say, if it had not been for the kind forbearance
and the zealous co-operation on the part of his colleagues
in the direction, it would have been impossible for him
to have borne the labours of his office. But he was de-
sirous not only of promoting their interests, but of up-
holding the character and the standing of the railway
interest before the world—(cheers)—and he had chosen
that moment for his retirement, from a conviction that
there was in the board one individual on whom his eye
had been long fixed, who he believed was fully calculated
to undertake the laborious duties of that position which
he (Mr. Glyn) had relinquished, and into whose hands
he gladly and willingly resigned the trust which he had
so long held. (Cheers.) He alluded to his honourable
friend the chairman, and after watching his conduct in
public and Parliamentary life for a considerable time,
he (Mr. Glyn) was sure that, so long as his ho-
nourable friend had the opportunity of turning his
talents and his time to their service, they could not be in
safer hands. (Cheers.) He need only refer to the masterly
exposition which his honourable friend had given them
that day ; but he (Mr. Glyn) formed his opinion from his
knowledge of him as a public man, and he would tell
them that his honourable friend, if he chose, was cap-
able of rendering them most valuable and efficient ser-
vice. (Cheers.) He (Mr. Glyn) should not have risen
on the present occasion, but for the observations which
had just fallen from his hon. friend (Mr. Parsons).
There was a day when be (Mr. Glyn) was used and glad
to call on him to co-operate with the directors in every-
thing concerned in advancing the interests of this com-
pany, and be deeply regretted to hear that circumstances
had occurred to induce his honourable friend to reduce
materially his stake in this company. He still further
regretted to think—although he (Mr. Glyn) did not pre-
tend to say that such was the actual fact—that probably
at that moment the interests of his hon. friend lay pro-
bably in another direction than this company. He did
not think Mr. Parsons had quite fairly stated the effect
of the amalgamation of the Grand Junction on the
affairs of this company. This company submitted to
a reduction of their tolls on that occasion, but it re-
duced its traffic at that time merely to the state in which
it had been actually serving the public. The reductions
had been considerable since, and they had been
attended with large returns both in passenger and goods
traffic. The motive for those reductions had been the
competition with the Shrewsbury and Birmingham and '
the Shrewsbury and Chester ; and although those re-
ductions were forced upon this company, he never re-
gretted them, and he was one of those who believed that
they were not only beneficial to the public interest, but
that after a time they would be materially beneficial to
the company itself. (Hear, hear.) He heard the dis-
cussion in the House of Lords to which Mr. Parsons had
alluded on the Post- office service ; and but for its having
arisen suddenly, he believed many noble peers would not
have taken the course they did on that occasion. But
although much was said on the point to which Mr. Par-
sons had alluded, he (Mr. Glyn) must call his attention
to the antidote delivered at that time in a remarkable
speech by Lord Harrowby, who, with his knowledge of
the facts, acquired by living in that part of the country,
and his former connection with railways, dispelled at the
moment the impression that was made. Mr. Parsons
was perfectly right in saying the Postmaster-General
then talked about the immense sums paid for the public
service ; and so they were immense ; taking them alto-
gether, they amounted to a very considerable sum.
There was, however, no particular allusion made to
the London and North-Western Company, the name
of which was not even introduced on that occasion.
But if it was ever introduced into a similar discussion,
he ventured to think that no Postmaster-General would
forget, if, indeed, he was aware, that this company was
now carrying an excess of weight beyond all calculation
and he was convinced that whenever a proper account
was laid before Parliament as to what was really done
by this company as regarded the Post-office duty, there
would not be a reasonable man in the country who
would think of reducing the amount that was now paid
to this company for what it did. (Hear, hear.) Besides
that, the Post-office itself had renewed its contract with
this company for a large service and a great number of
years. (Cheers.) He would also remind Mr. Parsons
that the whole question of the Post-office service was
founded on an act of Parliament, obtained after a great
discussion with the then Government of the day, and a
strong Government it was. He believed also that when
the question was fully gone into—when what was done
was compared with what was paid—when the accommo-
dation afforded to the public was considered, and the
fact that the penny-postage system itself depended in
point of fact upon the establishment of railways—
(the justice of Parliament would never allow the
interest of the railway companies to be sacrificed
in any arrangements that might be made for the
Post-office service. (Hear, hear.) Under these cir-
cumstances, he could not help saying he thought there
was no foundation for the remarks which had fallen
from his friend Mr. Parsons.

Mr. PARSONS said, whether in amity or in opposition,
he never equivocated, and was always straightforward.
With regard to the interest he had in any other com-
pany, he held that interest before the contest with this
company took place.

A PROPRIETOR thought they should know what was
the general system intended to be adopted by this com-
pany in regard to amalgamation. It was exceeding im-
portant that a union should be effected for the purpose
of cheapening traffic.

The CHAIRMAN, in reply, reminded the honorable pro-
prietor that they were only met that day to consider a
particular subject. (Hear, hear.) The great object of
amalgamation was to cheapen, to economise, and to af-
ford accommodation and convenience to the public, at
the same time to regard their own interests, and to en-
deavour, if possible, to improve the position of railway
matters generally.

Mr. iId.DFIELD, M.P., thought it exceedingly desira-
ble that the present system, under which it was necessary
to take out more than one probate on the decease of a
proprietor, should be put an end to.

A PROPRIETOR thought the thanks of the meeting
were 'due to the chairman and directors for giving them
the opportunity of coming to an unanimous -vote on this
occasion.

The CHAIRMAN then put the motion, which was car,
ried unanimously.

Sir GEORGE GOODMAN, M.P., could not but observe
on the extreme value of the services rendered to this
company by Mr. Glyn. (Hear, hear.) From his (Sir
G. Goodman's) early connection with railways—not
having been a speculator but a proprietor in them—he
had come much into contact with Mr. Glyn, and he con-
sidered him a man who had rendered the most impor-
tant services to the nation at large. (Hear, hear.)
He begged, therefore, to move a vote of thanks to Mr.
Glyn.

Lieut.-General MACINNES seconded the motion, which
was carried unanimously.
Mr. GLYN briefly acknowledged the compliment.
Mr. CROSSFIELD moved and Mr. SAMUEL DREWELL
seconded a vote of thanks to the chairman, which being
carried and responded to the proceedings terminated.