The Sun.
London, England, 1862-08-09 00:00:00

yeti
.1.3/
°'► "1 • AirA..A _ EIN F 3 PAT E R
~;•,;* ;44; 44V-
.
a,- _
•-, Ti
.
the circumstances Connected 'with his vigit to Can 4-.,41
.s
- l,` s •
1111.:.
les 11 s.
, e _
, s:j'amob
- - ,„ • --.V-%`-.1
•
bt g
0,„.. ;lax
-• 4 , o„suo, MT, • My, —O3
95' 017,...;;0ar jiratlT • ti/0 "1,11/4 Y

said, when he first arrived in that country there' .
to be but one feeling in the minds of interested pallit
respect to the Grand Trunk Railway—(hear, hea.r)'
that was to do all that was possible to make the n.filway
a wreck, in order to take advantage of such a eircumshince.
There was no doubt that was the feeling, and it was a v ork
of some difficulty to defeat so unjust an attempt, but Ike
felt gratified at the manner in which his acts had been ap-
proved of by those whose good opinion he valued. (Rear.)'
The act before them was no work of his own ; it was the
embodiment of the ideas of the shareholders present at
the meeting at. which it was considered expedient that
he should visit Canada. When he first arrived at
1
the [Grand Trunk Railway he found everything in the
greatest disorder, even the wages of the porters were in
arrear, but by patience and perseverance that state of
things had been altered. Now everything required for
the railway was paid for delivery, and the credit of the con-
cern had been recovered, and it now stood as well as any
undertaking in Canada, lie then referred to the negetia •
tions hp had taken pait in with respect to the Government
of Canada relative to the postal subsidy, to which the com.
pang had the most perfect right, and went on to renmrk
that he took upon himself the responsibility of recom-
mending the meeting to assent to the Act which had bewr.
proposed to them that day. (Hear, hear.) He paid a
high compliment to the honour and judgment of Mr. Jus-
tice Draper, te whom the arbitration of the difference had
been referred, and concluded by saying that he felt confi-
dent that the interest of the shareholders and the honour of
Canada would be saved, and that what had been looked
upon as bad faith would be found to have arisen from a
misunderstanding. The hon. gentleman concluded his
observations amidst loud applause.

PRICE..... -....4d.
STAMPED ....sd.

John G. Torr, wire-worker, Derby
William Atherton, farmer, Preston
William Rogers, baker ,Orlestone, Kent
George Fletcher, grocer, Gloucester
George Augustus H. Hepworth, surgeon, Gloucester
William Haddock, forgeman, Cookley, Worcestershire
William Darby, commission agent, Dudley
Joseph Woodhall, whitesmith, Tipton
Thomas Boulton, innkeeper, Hereford
Solomon Woodall, grocer,
_Oldbury
Charles T. Baster, clerk, Uttoxeter, Staffordshire
Wm. Shorthose, draper, Newcastle-under-Lyme
James Ward, harness maker, Coventry
Edwin P. Devis, agent, Birmingham
John Hetterley, Leicester
James Keyse, brewer, Newport
James Grieves, merchant, Poultry, City
Abraham Levy Goodman,
commission agent on the turf,
York-street, Postman-square
George Rule, slater, Pickard-street, City-road
Elizabeth Newman, widow, Holly-hill, Hampstead
Alfred Holmes, mathematical instrument maker, King-
street, Lower-road, Islington
John Wood, builder. Milford-terrace, Stoke Newington
James W. Thompson, builder, Burwash, Sussex
Robert Wilson, commercial traveller, Oxford
Frederick Francis, painter, Lincoln
William Dale, tailor, Kirmingion, Lincolnshire
Elizabeth Lee, widow, Bishop's Cleeve, Gloucestershire
John Siddall, cloth drawer, Buslingthorpe, Yorkshire
Joseph Long, general dealer, Portsea, Southampton
Jchn Jones, Birkenhead, Cheshire, bookkeeper
James Laurence, general merchant, Lime-street, City
Charles Baker, baker, Bath-street, Camberwell
John Allies! Hunt and John Holland Doughty, coal
merchants, Hounslow, Middlesex
William Watkins, carpenter, Islington
John Todd and Christopher William Todd, builders,
Brompton, Middlesex
Jesse Henry Ing, corn dealer, Shadwell
Robert Taylor, haircutter, Brompton
Charles Rogers, grocer, Salisbury
Henry Brooks, picture dealer, Norris-street, Haymarket
Thomas Bancroft, dairyman, Homerton
Edward Oldis, inspector of railway plant, Maids-hill,
Paddington
Frederick Wm. Goddard, auctioneer, Wandsworth
• Francis Brown, jun., fish merchant, Great Yarmouth
John Morse, jun., carman, Tottenham-place
mAllcfrheadelßpaorndsdb, yD,labtiabnueilder, Isleworth
Lydia Christina Thomson, lodging-house keeper, York-
street, Portman-square
Henry Schallehn, professor of music, Kensington
• Edwin Farrer, beerseller, Twyford
SCOTCH BANKRUPTS.
Gardner Coyne, Edinburgh
John Gibbs, hairdresser, Glasgow
Alexander Downie, General Register Office, Edinburgh,
now deceased.
James Love, cheese merchant, Stewarton, Ayrshire

The motion of Mr. CRAWFORD accepting the Act was
put to the meeting and carried almost unanimously. The
amendment was withdrawn.

At the suggestion of Mr. WATKrar, to prevent any legal
difficulty in Canada, a poll was taken with the same result.
A resolution, to the effect that the legal management of
the affairs of the company be henceforward carried on in
Eagland, was carried unanimously.
Another resolution was also agreed to, warmly thanking
Mr. Watkin for the services he had rendered the company
during the last 12 months.
Thanks to the chairman terminated the proceedings.

COURSE OF EXCHANGE,-YESTERDAY.
Amsterdam
Ditto
_-) 11 18
Rotterdam .. 11 18 11 18
Antwerp — 26 42} 26 47i
Brussels — 25 42f 25 47i
Hamburgh .. 13 8 13 8k
Paris
Ditto .. 3 Months; 25 40 25 45
Marseilles
• 1191 119}.
12 85 12 90
12 85 12 95
—34 k
--
49k ' 491
_- 491 49i
Frankfort on
-- 25 55 25 60
Leghorn
25 55 25 60
Milan -
.. ** 25 55 25 60
Genoa
--39 40 --
1
Naples
Palermo ll9 119 k
Messina -119/ 119 k
-.. , 52i 53
Lisbon 52 53k
Oporto —
Foreign Gold in Bars (Standard), per oz £3 17 9
Mexican Dollars
0 0
Silver in Bars (Standard)
0 0 0
South American Doubloons

GRAND TRUNK RAILWAY OF CANADA.

The following appeared in a portion of our impression of
yesterday evening :
A special general meeting of the bond and shareholders
of this company was held yesterday at the London Tavern.
T. Baring, Esq., M.P., presided.
The meeting was called for the following purposes :-
Ist. For the purpose of considering " The Grand
Trunk Arrangements Act, 1862," passed at the last session
of the Parliament of the Province of Canada.'
2d. For the purpose of accepting the said Act in the
manner and as provided in the 39th section of the same
Aet.

The CHAIRMAN, in opening the proceedings, said the
shareholders had all received the accounts of the cmpany,
end, comparing them with those for the corresponding
period of 1860, he thought they would all agree that
they were highly encouraging. As far as could be
estimated, from the information received from Canada, a
similar increase for the present year was certain, but they
had a serious drawback in the unfortunate civil war that
had been raging in America. That deplorable circum-
stance had led to a diminution of their traffic. They all
knew that one-fifth of their line was in the United States,
and to that circumstance was to be attributed the falling

off ;n the passenger traffic, and that loss must continue
1 until there was a cessation of hostilities in that part of the
world. Until that circumstance took place they could not
properly develop their traffic. He thought the meeting would
agree with him in thinking that the exertions and zeal of
Mr. Watkin were worthy of the highest praise. By his
exertions a system of economy had been matured which had
'placed their account in the present satisfactory state. 'With
regard to the Act of the Legislature they were called upon to
give their assent, it was calculated by wise concessions
to the shareholders in Canada that a most satisfactory future
for the company would be secured. It was no new matter
they were called upon to consider. The arrangements of
the act had been solemnly argued on a former occasion.
The chairman then entered into a statement of the proceed-
ings that had taken place in Canada, and the course that
had been adopted by the Government of Canada, and
notwithstanding all that had been said, he did not but be-
lieve that the Government of Canada would listen to their
claims. They were able by this act to say to the Govern-
ment of Canada, we have done:all we can to assure regu-
larity, honesty, and security for the company in Canada,
and we therefore call upon you, the Government, to do
your part and admit our claims by adopting a fair arbitration
to protect our interests, and then their postal arrangements
would be safe and complete. By the arrangements pro-
posed by the act, when carried out, the shareholders would
secure their dividends. Whether they would be enabled
to make arrangements with the Government of Canada to
prevent any seizure of their property, or whether they
should have to return to the state of things that existed 12
months ago, and again involved in litigation was uncertain,
but he believed the arrangements proposed in the act
would have the effect of preventing it. They had succeeded
in increasing their representatives at the Board in Canada,
and he looked forward with confidence to the future for the
success of the company.
Mr. CRAWFORD, M.P., explained to the meeting the
origin of the act, which arose with a committee of bond:
holders who had deputed Mr. Watkin to ProceV
to Canada, and by whose exertions ctoh
Trunk
n
ecludaed
rangements had been carried out.
by moving a formal resolution, accepting the lie
and
Arrangement Act, 1862, passed at last session rof the Par-
liament of the province of Canada.
Mr. MORRIS urged the meeting to agree to the PrePesi-
tion. It would only stultify
d.
all that had been previously
done if any other course was to be adotptea.n
st the proceed-
Mr. MOGG, of Bristol, read
ings of the committee and the aadoPprvt°ietoryenorthie act of arrange-
numerously signed,
went. The protest, he said,
Lhe number of signatures to the
A PROPRIETOR ask..-4
document.
Mr. Mooci replied 20, but he himself did not object to it,
Mr. MERCER was in favour of the adoption of the
arrangement.
Mr. WAurvirtrarsr said the act of arrangement Was only
based on the act of 1854, and he thought that the bond-
holders had no legal right to preference over the s har
e-
holder,. It would only be showing a little concession
if
the preference bondholders were to place themselves in the
same position as the other shareholders. (Confusion.)
Mr. CONYBEARE thought the bondholders had not been
sufficiently consulted, and he proposed the adjournment of
the meeting to a future day to be fixed by the chairman, in
order that different interests might duly consider their pre-
sent position.

Mr. OTTER said at a former meeting they had agreed to
the propositions which are to be carried out by the act of
arrangement. If the meeting did not adopt the act it would
be guilty of a breach of faith. He condemned the system
of carrying prime ministers and influential parties on the
line for nothing, Such a course was not adopted in this
country. The Cabinet in this country, when they travelled
either to Balmoral or Windsor, did not object to pay the
proper charges. (Hear, hear.) Then why should there be
any exception in Canada ?
Mr. NEWMARSII said he hoped, when certain parties
went back to Canada,
they would tell their compatriots that
the Grand Trunk Railway Company had determined not to
be imposed upon any longer. They had got the stick in
their hands on this side of the water, and they were deter-
mined to use it if necessary.
Mr. CHAPMAN contended the act proposed for the sane-
ion of the meeting was in fact a condonation of the nu-
merous errors of the company, a confiscation of preference
bonds into ordinary shares) and a legalisation of all the
fraudulent leases that had been entered into, He seconded
the amendment for the adjournment.
in his
Mr. Monnts said he had the greatest confidence
friend M and he looked upon the rnoti?
Dir. Watkinfor n _
ad-
journment as an attempt to get rid of the qurnw. asd.r°
the approval or non-approval of the act by s
addressed
Mr. WATKINI in obedience to a general cailt a°
the meeting, and entered into a lengthened statement of