The Sun.
London, England, 1865-09-28 00:00:00

WATFORD AND RIOKMANSWORTII.

The half-yearly meeting of this company was
held yesterday, at the offices, Bedford-street, Strand;
Lord Ebury in the chair.
The report, an extract of which has appeared in
The Sun, was taken as read.

On the motion of the CHAIRMAN the report was
adopted, and one of the directors who retired by
rotation was re-elected.

EDINBURGH AND GLASGOW.

The adjourned half-yearly meeting of this com-
pany was held on Tuesday at Glasgow, Mr. P.
Blackburn in the chair.

The CHAIRMAN said that before taking up the
business left over for the adjourned meeting, he
would mention that an application was made to the
Lord-Ordinary to withdraw his interdict, and that
after hearing both parties fully he declined to do so,
and suggested that the company should adjourn the
meeting till early in December. The board, having
met -that merrning•and taken the matter into con-
sideration, were of opinion the first thing to be done
was to declare the dividends recommended in the
report. If they adjourned the meeting till Decem-
ber, and if they then found they had power to re-
commend the shareholders to vote remuneration to
the manager, secretary, and the other officers in-
stead of asking them to give £11,600 among them,
the directors would propose that £7,100 should be
voted for that purpose. He concluded by moving
that the dividends be then declared for thepa,st half-
year.

Mr. DUNLOP seconded the motion.
M. CLOUST ON moved an amendment to the effect
that in addition to the dividends recommended by
the directors the holders of ordinary stock should
receive a bonus of 20s. per cent., payable on the 3d
proximo. He also said he would propose :—" That
the balance of revenue and assets remaining in the
hands of the board should be devoted to meeting the
expenses of the company winding up, and any legal
claims against the revenue account which might be
established ; and that the board be instructed, when
all such payments were made, to dispose of any resi-
due by remitting it rateably to the present holders of
ordinary:stock." This would leave a balance of £5,000.
Mr. J. WurrE seconded the amendment:
A long discussion ensued.

Mr. J. ORR EWING, a director, proposed that the
recommendation contained in the report of remune-
rating the servants of the company be withdrawn ;
that as soon as the interdict was withdrawn that a
form be enclosed to each shareholder, in the same
terms as adopted by the Newcastle and Carlisle
Railway Company, stating that it was recommended
by the directors that an opportunity be given to
raise voluntarily, by those willing to subscribe, a
fund for the purpose of being divided between the
servants of the company in such proportions as may
be fixed on by a committee of four shareholders and
three directors, the amount recommended being ten
per cent. of the dividend due to each shareholder.
He meant all shareholders, preference as well as
ordinary. And that the proxies entrusted to the
directors in name of Messrs. Blackburn, Campbell,
and Maxwell be not used against the votes of the
shareholders present regarding the division of the
funds available for the dividend if there was a consi-
derable majority in favour of such a motion. (Cheers.)
Mr. L. WHITE, a director, said he concurred in
the preposition of Mr. Ewing.
Sir J. CAMPBELL seconded the proposition of Mr.
Ewing.
The CHAIRMAN contended that they could not
take up any business except what stood over from
the ordinary meeting.

Mr. EWING, amid considerable noise and confu-
sion, put his motion to the meeting.
Mr. CLOUSTON contended that the interdict was
no obstacle to M. Ewing's motion, as he recom-
mended nothing but a voluntary proceeding.
thep
DUNLOP said,
it was received as the gift of thed that if they voted the money
from
company
shareholders.
;theo
(Uproar.)thercait as the gift of indi-
vidual
The CHAIRMAN said he would not accept a vote
from individual shareholders. He proposed.that the
words in the question be left out.

A show of hands being called for it appeared that
nearly the whole of those present were in favour of
Mr. J. 0. Ewing's resolution.

The CHAIRDIAN thereupon said he held that the
resolutions were not passed, knowing, as he did, the
proxies that were lodged.
A poll being demanded, the names of those pre-
sent were called, and their votes taken.
Mr. Paton and Mr. Bain were appointed on behalf
of the meeting to act along with Mr. Jamieson and
Mr. Tawse in scrutinizing the poll, and to report at
a meeting to be held in the company's offices next
day.

Mr. WHYTE said he wished the chairman to put
his motion, that the directors be instructed to with-
draw opposition, in name of the company, to the
interdict.
Mr. CLOUSTON seconded the motion.

The CHAIRMAN said the motion was quite incom-
petent. It did not refer to a matter in the report
standing over from the previous meeting.
Mr. WHYTE protested against this ruling.
The meeting then separated. '

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