The Sun.
London, England, 1865-11-29 00:00:00

HUDSON'S BAY.

The annual meeting of this company was held
yesterday at the offices, Fenchurch-street ; Sir E.
Head in the chair.

There were no accounts or report submitted.
The CHAIRMAN said it was entirely owing to a
misapprehension of the opinion expressed at the
last meeting that no report was submitted on the
present occasion. In future, however, the complaint
in that particular would be removed, as the directors
were anxious to meet the wishes of the proprietary.
With regard to the prospects of the company they
were most encouraging. In the fur trade its pros-
pects for the present year were better than he had
ever known, and there was every reason for congra-
tulation. The ships from the Hudson's Bay and
Labradorhad returned. One ship had been repaired.
He was glad that no losses had occurred from their
shipping. It was for the Canadian Government to
make offers to them, and not for the company to
offer its property to the Government. Turning the
property to profitable account was an operation beset
with great difficulties, and if the board did move at
the rapid pace some thought it ought gentlemen
should make themselves masters of all the circum-
stances before they expressed a decided opinion.
(Hear, hear.) The arbitration suit was progressing,
and he saw no reason why it should not be settled
during the next six months. From the land in
Vancouver's Island they could not hope much unless
a new discovery of gold occurred. The quantity of
land sold had realised $34,584. The directors were,
however, in a position to recommend the payment
of an ad interim dividend of the same amount as
was declared last January.
Mr. MORRISON, as chairman of a meeting of share-
holders held on Friday, proposed a resolution, de-
claring it to be the wish of the shareholders to have
a half-yearly report, and also a by-law appointing
two shareholders as auditors. •
Mr. SEWELL seconded the propositions.

Mr. DA NIS insisted that the infusion of newblood
in the managing committee was essentially necessary.
Ile said that more than one-half of the paid-up
capital was lOcked up in securities, yielding only a
low rate of interest.

The CHAIRMAN, in answer to a question, said the
by-laws were poised before the present governor and
committee came into office. He and his colleagues
could only consider the resolution proposed as a vote
of non-confidence, which, if passed, would leave
immediate retirement the only course open to them.
(No, no.)

Mr. SCHROEDER, as one of the committee of

management, said the views expressed by the chair-
man were shared in by himself and his colleagues,
and would be acted upon.
Mr. WATKIN, M.P., suggested the adjournment
of the question for a month, the mover and seconder
in the meantime to confer with the committee and
make a joint recommendation.
After some further discussion, in which several
shareholders took part, the motion was withdrawn,
and

Mr. HEATH, chairman of the International Finan-
cial Association, moved a resolution requesting the
Board to appoint a professional auditor to audit the
accounts, in conjunction with Mr. E. W. Watkin,
M.P., which, having been seconded, was unani-
mously adopted. .
The governor, deputy-governor, and committee
were unanimously elected, and a vote of thanks to
the chairman concluded the proceedings.