The Sun.
London, England, 1853-11-16 00:00:00

the directors were trying to force it upon them. (No,
no.) It was impossible for the directors or the House
of Commons to bind the shareholders to such a, pledge,
as, by law, they had full power to refuse their permission
to any bill on, under the Wharncliffe order of the
House of Lords. (near.) It was not concealed that it
was intended hereafter to carry out the central line,
which would destroy the coast line. In fact, one line
destroyed another, and, in time, these extension lines
would entirely destroy the company. (Cheers and
laughter.) The chairman, as an honourable man, wished
to know how he was to get out of his pledge to the
'House of Commons—why, he might tell them that he
was steering the ship on a reef of rocks, but the crew
mutinied and prevented him. (Cheers.)
Mr. Sergeant GASELEE, a director, supported the
amendment, and pledged himself that in any future com-
mittee of the House of Commons he would be examined
himself, and show up the whole secrets of the charnel
house. (Cheers and hisses.) He was accustomed to
be hissed, whilst the most extraordinary trash was
listened to from the old directors. The contractors,
the lawyers, and the engineers had already given in
t heir proxies in favour of the directors, and therefore
they might leave the room. (Laughter and ap-
pia use.) Parliament was not told before the pledge was
given that these parties overbore the real opinion of the
shareholders. (Applause and hisses.) He wondered
that ti.le House of Commons could ever have thought a
large company could be bound by such a pledge, did he
not know that a man who was fit for nothing else al-
ways considered himself qualified for a legislator, and
talked the most arrant nonsense in the committee rooms.
(Cheers and hisses.) He had hit the right nail on the
head. (Laughter.) The railway companies must be no
longer under the power of the lawyers—lawyers must be
got rid of altogether. It was a lawyer who originally
pledged the company to this scheme, and if they were
to allow lawyers to pledge them to do anything they
liked, their property would be entirely ruined. (Cheers
and laughter.) He did not wish to sit at the board if
they did not think it for the interest of the company.
(Laughter.) He did not disagree with the directors on
the management of the line, but upon the question of
ex' ension; he must oppose the rest of the board, as he
found they were always running their heads into diffi-
culties. (Cheers and laughter.) He did not know much
about figures, but he felt that the cost of the working
stock had been left out of the Southampton and Dor-
chester accounts, though he had no doubt that account-
ants, like lawyers, would be able to make out a good
case on either side. (Laughter.) He held in his hands
the proxies of a noble lord who had been Chancellor of
England, and of two judges. Were they men who
would support anything like repudiation ? He contended
they would not ; and yet these persons opposed, with
him, the extension. (Hear, hear.) He accused the
directors of issuirar reports by which proxies were ob-
tained to support the board, without telling the share-
holders that himself and Mr. Mortimer were opposed
to the extension policy of the board. (Hear, hear.)
lie was not bound by any pledge to Parliament ; and
he should like to know, when they talked so much of
the House of Commons, where was the House of Lords ?
(Hear, hear.) If the directors won to-day by a small
majority, did they think they would ever obtain the
three-fourths majority at the Wharncliffe meeting, which
was to be held before the bill was passed ? But suppose
the bill was agreed to, where were they to get the money
from ? The directors were afraid to test the market ;
they would not take up a large number of shares them-
selves, but they offered to sign the subscription deed on
behalf of the shareholders, and hereafter their shares
might be issued so as to destroy their original property.
(Hear, hear.) A more disreputable proceeding he had
never heard of. (Cheers.) He believed his party were
the victors, and he called for the number of proxies ;
and said if there was only a small majority in favour of
the extensions, he hoped there would be at once an end
put to lawyers' bills, to engineers' bills, and to con-
tractors' bills. (Loud cheers.) They must form asso-
ciations with the shareholders of other lines, and close
the capital accounts, in order to protect the property of
the whole from destruction. (Hear, hear.)
The CILAIRMAN said the number of proxies returned
was 1,700 representing 25,000 votes, and a capital of
4,201,3041.
Captain Moonsou said the condnct of Mr. Sergeant
Gaselee appeared to him to be perfectly inconsistent,
for he found his name and the name of Mr. Mortimer
attached to a declaration " that the line from Dor-
chester to Exeter cannot fail to add materially to
the value of our property." (Loud cheers). He (Cap-
tain Moorsom) entirely concurred in that opinion, for
there were at present sixteen public conveyances on
the road in question. (Cheers.) All these would come
into connection with the projected line. The population
of the Exeter districts amounted to 206,778. The
population between Southampton and Dorchester was
2,650 per mile. The population between Dorchester
and Exeter was about 3,660 per mile—the difference
between 'the numbers being as two to three. (Hear,
hear.) Besiles these numbers, there were 110,168 per-
sons connected with the Basingstoke and Great Western
railway who would come upon the South Western line.
The total capital o': the company was 8,820,0001., and
the re ;eipts 647,0001., and if the capital of the Dorchester
line was taken at 800,0001., it ought, in the same pro-
portion, to produce 55,000/. ; but it actually produced
.58,0006.—a larger amount than was produced by any
other part of the line. (Hear, hear.)
Mr. BAKER, after a personal attack on Captain Moor-
som, whom lie charged with advocating the extension of
the line because he had a personal interest in it—adduc-
ing as a proof of his assertion the fact that Captain
Moorsom had employed a person to canvass at Chelten-
ham— proceeded to state at some length his objections
to the proposed line, and expressed a hope that the
proprietors would, in spite of engineers and lawyers,
deal with their own property in their own way.
Mr. SNELL here rose and declared that of the 1,700
proxies that had been returned he held 690, and Mr.
Mortimer and Mr. Sergeant Gaselee held as many as
would make up 1,000.

A SHAREHOLDER suggested the propriety of passing a
resolution declaring their want of confidence in the
directors.

Mr. HELPS strongly objected to the raising of the
proposed capital, and wished to know out of what fund
the deposit of 10 per cent., amounting to 82,0001., was
to be paid, in compliance with the standing orders, be-
cause a bill had been passed declaring that deposits for
future bills shall not be paid out of the company's
capital. (Loud cheers.) In justice to the holders of
trust property and the poorer shareholders, he hoped
the proposition would be rejected by an overwhelming
majority. (Loud cheers.)
The CHAIRMAN said the sum necessary to be raised
was 60,0001., and that suni the directors proposed to
borrow on their own responsibility, in the same way that
the Great Western Company borrowed their deposit last
year to carry out their project in the same direction.
(Cheers.)
Mr. Alderman Winn cautioned the shareholders to
beware of being led away by the predominating in-
fluence of the Great Western Company, whose interests
were totally adverse to the interests of the shareholders
of this company. (Cheers and oh, oh.) He contended
that the pledge which had been so solemnly given ought
to he redeemed. (No, no, and cheers.) But indepen-
dent of that pledge, he thought the line merited the
support of the proprietors, inasmuch as it was perfectly
clear that it would prove sufficiently remunerative.
A SHAREHOLDER, in reply to the last speaker, said
the shareholders had much more reason to he afraid of
the North-Western than the Great Western interest. '

(Cheers.)
Mr. MALINs said there could be no doubt that the
extension was most important in a military point of
view ; but in that case the Government ought to under-
take the construction of the line. (Cheers.) lie did
not see how it was likely they could get over the
Wharncliffe order, and thought the better course would
be to go to the Government and ask for the money.
(Cheers and laughter, and cries of "divide.")
The CumnmAN said, as there were two distinct issues
there ought to be two divisions. (Cries of "No, no.")
Ile wished the shareholders first to deckle on their own
project.
The amendment was then put and carried amidst
cheers.

A poll was then demanded, and fixed to take place on
Wednesday and Thursday between the hours of ten and
five, at the offices of the company in York-road.
Mr. HELPS gave notice that, in the event of the divi-
sion being against the amendment, he should submit to
the meeting a resolution declaring that the principle of
the Wharncliffe order is applicable, and that the direc-
tors are bound not to proceed any further with the mea-
sure.

The meeting was then adjourned until Saturday, at
12 o'clock, when the result of the poll is to be declared.

A SIMPLETON.—On Tuesday last a man named But
ler, a servant out of place, residing at Wirksworth, was
on the platform of the Derby Station, and seeing a per-
son whom he thought
im. he knew, he entered into conver-
sati
as ton hi3wit hh
The reply which he made to inquiries
belief of themenman and residence confirmed Butler in his
glass i
aaind they went to Melancthon's Head
tl have a
Shortly afterwaords e together for " Auld Lang Syne."
a fourth, and in a
coursethird party joined them, and then
new corners stated that he was
conversation one of the
money in the People's was about to invest some
Insurance Society, which had
an office in Victoria-stree
five per cent. for it, and that4leging that he should get
some pay far better than
sovereigns on the table,
house property. Placing
he advised Butler to follow his
I,le, andhaving ill.
Tnlaoinnaeyawas then placed
10s. with him, he did so. Thee
he was requested
in the hat of Butler's acquaintance,
party and Butler went
to take care of it whilst the other parnt
the tier
to the office in Victoria-street, and
getting
inquiries and arrangements for investing it.
into the town, Butler's companion suggesitecli that he
began to feel rather uneasy in his min( at leaviry,
his money with a person he did not know, adding
" I suppose, Butler, your brother may be trusted wi'l;
it ?" "My brother ! exclaimed Butler, "he is not my
brother." Whereupon his companion urged him to re-
turn immediately to the Melancthon's Head, and take
care of the money, until he returned from the office. It
is needless to add, that on reaching the Melanctlion,
the birds had flown with the money, and that on his re-
turning into the town to acquaint his companion, that
worthy was non est inventus ; and so, the too credulous
Butler had to return home minus his money.—Derby
Reporter.
THE FATAL ACCIDENT ON THE SOUTH WESTERN
RAlLWAY.—Yesterday Mr. Carter held an inquest on
the platelayer who was run over on Saturday last.
After a lengthened inquiry the jury returned a verdict
of "Accidental death," accompanied with a recom-
mendation that the company should consider the prac-
ticability of giving further notice not only to the per-
sons employed on the line, but to those waiting to
travel by the trains, of the approach of the various
trains after leaving the ticket platform.