The Sun.
London, England, 1836-09-15 00:00:00

GRAND JUNCTION RAILWAY COM-

PANT.

aaa
Sir S. WHALLEY'S speech concluded from The Sun of yester-
day.—There could, in his opinion, be no better test of the cha-
racter of a Company than the conduct of the Directors, with
regard to the shares they held. If they were large share-
holders it was an argument of the substantial nature of the
concern ; if, on the contrary, they were to be found puffing
and disposing of their shares, the very reverse was to be ap-
prehended. The Directors were said to have taken shares
when they were at a premium. The book in which all the de-
tails were entered, would give the positive and unqualified de-
nial to the truth of that accusation. At the same time that
he made this statement, he must say that the Directors were
at liberty to do as they pleased with their own shares. The
Chairman then alluded to the circumstances under which the
allotment was made. The Chairman next alluded to the
charge made by Lucas against the Directors, of having per.
witted 2,795 shares to be sold at Manchester, and a conside-
rable part of the money to be pocketed by one of themselves.
When in consequence of the newspaper attack upon the Corn.
pany, the shares fell to a discount, to attempt to sell three
thousand shares in the London market, would have been
quite ridiculous.—(Cheering.) The attempt would have
been followed by a much lower depression. It was then
suggested that—as Mr. Thorp had many influential friends
in Manchester—the exertion of that gentleman's interest
would be likely to serve the Company.—(Hear.) The
shares were at the time at 7s. 6d. discount, and it was con-
sidered that if the 3,000 shares were sold at that rate, a great
advantage would be derived to the shareholders. He ( Sir
Samuel Whalley) and another Director had previously made
experiments elsewhere for the sale, but failed ; and they deter-
mined to apply to Mr. Thorp, who consented to go down to
Manchester. Mr. Thorp soon afterwards wrote to the Board
that he had sold 2,000 shares, and he paid sums of money
into the banker's at different times, there being so much busi-
ness to be done at that period, that no accounts were settled.
Sir Samuel Whalley next described the conduct of Lucas on
the subject of those shares. Lucas called upon him and of-
fered, upon condition of getting 40 shares, to disclose some-
thing of great importance to the proprietors. The offer was
cmtemptuously rejected; and Lucas at length, finding that he
could not extort, stated that Mr. Thorp had charged 7s. 6d.
a share as brokerage. Mr. Thorp stated that he claimed the
money for his connexions at Manchester, who had a right to
the deduction. The Directors, however, agreed that as Mr.
Thorp was a Director, he could not justify the claim, although,
as an individual differently circumstanced, he had the most
undeniable title to it. Mr. Richardson, the professional ad-
siser of the Company, confirmed the general opinion of the
Directors, and Mr. Thorp was written to, and answered the
letter by remitting a check for the amount of the deficit,
97114 2s. 6d., minus 401. for his expenses. He (Sir S. Whal-
ley) crossed the check, and sent it to the banker's; and who
took the check ? Lucas, the man who brought the accusa-
tion.—(Laughter and cheers.) After that event, Mr. Thorp
rent i❑ his resignation. Thus closed the connexion of the
Company with Mr. Thorp, who, he was bound to say, had
rendered the most essential services to the Company, and ob-
tained the most valuable and responsible parties in aid of it.
Sir Samuel concluded by expressing the utmost confidence in a
Company which promised to be the most profitable portion of
the London and Birmingham Railroad.—(Laud cheers.)
The report was then read. It stated that the net revenue,
after payment of all incidental expenses, would leave a divi-
dend of upwards of 20/. per cent., taking the lowest calcu-
lation.

Doctor GRAHAM moved that the report should he adopted,
after havin,g declared that any doubts which ought have
existed as to the conduct of the proprietors had been com-
pletely removed by the statement of Sir S. Whalley.
Mr. Fisis, a shareholder, seconded the resolution, to show
that a total change had taken place iu his opinion.
Carried unanimously.
Mr. CAttvALno moved that the Directors were worthy of
the utmost confidence of the proprietors, &c. Ile was the
proposer of the resolution which appeared condemnatory of
the conduct of the Directors.
Mr. MooxE, of Lincoln's Inn, seconded the motion, which
was carried unanimously.
oh'. FRESUFTELD spoke in the highest terms of Mr. Thorp,
and declared that no other man could have got rid of the
shar.s in the time and under the circumstances.
A resolution, u:preSsive of the thanks of the Company to
Mr. Thorp was then proposed, and unanimously agreed to.
After some further resolutions the meeting broke up, and
the shareholders retired evidently gratified at the explanation
made by the Chairman.

LONDON

UNIVERSITY AND

UNIVERSITY COLLEGE.

TETURN TO AN ADDRESS TO lIIS MAJESTY, DATED
AUGUST 19, 1836, FOR COPY OF THE DRAUGHT
CHARTERS FOR THE UNIVERSITY OF LONDON AND THE

UNIVEIISITY COLLF.Gr.

COPY OF THE DRAUGHT CHARTER OF THE
UNIVERSITY OF LONDON.
William IV., by the grace of God of the United Kingdom
of Great Britain and Ireland King,
,defender of 'the faith :
to all to whom these presents shall come, greeting. Whereas
we have deemed it to be the duty of our Royal office, for the
.advancement of religion and morality and the promotion of
'useful knowledge, to hold forth to all classes and denominations
of our faithful subjects, without any distinction whatsoever
a n encouragement for pursuing a regular and liberal course
oftducation ; and considering that many persons do prosecute
or complete their studies, both in the metropolis and in
oth, -tr parts of our United Kingdom, to whom it is expedi-
ent that there should be offered such facilities, and on whom
it is ;ust that there should be conferred such distinctions and
rewar. is, as may incline them to persevere in these their lauda-
ble pursuits. Now, know ye, that for the purpose of ascer-
t,,ining,. by means of examinations, the persons who have
qui ed aroficiency in literature, science, and art, by the pursuit
of such course of education, and of rewarding them by aca-
demical degrees, as evidence of their respective attainments,
and marks of honour proportioned thereunto, we do, by virtue
of our prerogative royal, and of our especial grace, certain
knowledge, and mere motion, by these presents for us, our
_heirs and successors, will grant, declare, and constitute
during our royal will end pleasure, and all the persons
wliom we may hereafter appoint to be Chancellor, Vice- Chan-
ce•ilor, or Fellows, as hereinafter mentioned, one body politic
an I corporate, by the name of the University of London, by
which name such body politic shall have perpetual succession,
and shall have a common seal, and shall by the same name sue
and be sued, implead and be impleaded, and answer and be
answ,N-ed unto in every Court of us, our heirs and successors.
And rye do hereby will and ordain that, by the same name,
they a.nd their successors shall be able and capable in law to
take, purchase, and hold to them and their successors any
goods, chattels, or personal property whatsoever, and shall
also be able and capable in law, notwithstanding the statutes
of mortanain, to take, purchase, and hold to them and their
successors, not only all such lands, buildings, hereditaments,
and possessions, as may be from tirr.e to time exclusively used
and occupied for the immediate purposes of the said University,
but also any other lands, buildings, hereditaments, and posses-
sion whatsoever, situate within our United Kingdom of Great
Britain and Ireland, not exceeding the annual value of
10,000/. ; such annual value to be calculated and ascertained
at the period of taking, purchasing, or acquiring the same ;
and that they and their successors shall be able and capable in
law to grant, demise, alien, or otherwise dispose of all or any
of the property, real or personal, belonging to the said Uni-
versity, and also to do all other matters incidental or apper-
taining to a body corporate. And we do hereby further will
and ordain, that the said body politic and corporate shall con-
sist of one Chancellor, one Vice-Chancellor, and such number
of Fellows or Members of the Senate as we shall from time
to time appoint under our sign manual ; and that our trusty
and well-beloved the aforesaid be the first Chan-
cellor the first Vice-Chancellor, and the said be
the first Fellows and Members of the Senate thereof.
That whenever a vacancy shall occur in the office of Chan-
cellor of the said University, either by death, resignation, or
otherwise, we will, under our sign manual, nominate a fit and
proper person to be the Chancellor instead of the Chancellor
occasioning such vacancy.
That the office of Vice-Chancellor of the said University
shall be an annual office, and the Vice-Chancellor hereinbefore
named shall, at the expiration of one year from
go out of office, and the said fellows or members
of the senate shall, at a meeting to be holden by them for that
purpose, on some day within a month before the expiration of
the said office, of which due notice shall be given, elect one
other fit and proper person to be the Vice-Chancellor of the
said University, and so from time to time annually ; or, in case
of the death, resignation, or other avoidance of any such Vice-
Chancellor before the expiration of his year of office, shall, at
a meeting to be holden by them for that purpose
as soon as
conveniently may be, of which due notice shall begiven, elect
some other fit and proper person to be Vice
-Chancellor 10
rfor the
remainder of the year, in which such dea-th, resignation, or
such person to be chosen fromosen
other avoidance shall happen ;
among themselves by the major part of the Fellows present at
such meeting, and to be approved of by the Chancellor of the
said University for the time being.
That we reserve to ourselves to be the visitor of the said
University of London, with authority to do all those things
which pertain to visitors as often as to us shall seem meet.
That the Chancellor, Vice-Chancellor, and Fellows for the
time being shall have the entire management of and superin-
tendence over the affairs, concerns, and property of the said
University ; and in all cases unprovided for by this our charter
it shall he lawful for the Chancellor, Vice-Chancellor, and
Fellows, to act in such manner as shall appear to them best
calculated to promote the purposes intended by the said Uni_
versity, and the said Chancellor, Vice-Chancellor, and Fellows
shall have full power from time to time to make and also to
alter any by-laws and regulations (so as the same be not re-
pugnant to the laws of our realm, or to the general
.objects
aidr
provisions of this our charter) touching. the examinations
degrees, and the granting of the same, and touching the mode
convening time of convenin the meetings of the Chancellor, Vice-
Chancellor,and Fellows, and in general touching all other
matters whatsoever regarding the said University; and all
such by-laws and regulations when reduced into writing, and
after the common seal of the said University has been affixed
thereto, shall be binding upon all persons members thereof,
and all candidates for degrees to be conferred by the same, all
such by-laws and regulations having been first submitted to
~,c of the principal Secretaries of State, and approved of and
countersigned by him.
*- s That all questions which shall come before the Chancellor,
Vice-Chancellor, and Fellows, shall be decided by the ma-
- jority of the members present, and the chairman at any such
••• meeting shall have a vote, and in case of an equality of votes
a second or casting vote.
• ' t-no
ili question shall be decided at any meeting, unless
e C
liancellor or Vice-Chancellor and five *Fellows, or in the

f ~ ?

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