The Sun.
London, England, 1849-04-20 00:00:00

RAILWAY INTELLIGENCE.

MIDLAND—RESIGNATION OF MR. HUDSON.
M.P., THE CHAIRMAN.
A special general meeting of this company was held
yesterday at the Midland station, Derby, and was at-
tended by 1,100 of the shareholders.
Mr. Ews, the deputy chairman, on taking the chair,
read a hater, of which the following is a copy, from Mr.
Hudson, to the directors of the Midland Company:—
`• York, April 17.
" Gentlemen,—The approaching meeting of the share-
holders renders it necessary for me to address you on the
subject of the office which I have had the 1/4onour to hold
as chairman of your company. Forming parts of one
great line of communication, the Midland, the York and
North Midland, and the York, Newcastle, and Berwick
Railway Companies, have hitherto had one common in-
terest to promote, and, in watching over the develop-
ment of them, it has always been to me a
pleasing re•
flection, that I was contributing to the prosperity of
each of the other companies. It was this which enabled
me to discharge tke duties of chairman confided to me
by the shareholders of these different lines ; and it is
because I am apprehensive that circumstances have now
arisen which must render it impracticable for Any one
perbon to preside over all these companies, that I feel it
Tiisite to make the present communication. It must
be obvious to every one, that the Great Northern Rail-
way, when opened, must of necessity materially affect
the existing lines of railway in the districts through
which it passes. To the formation of that railway J
gave my most uncompromising opposition. I believed
its formation to bs unnecessary, and felt that the
benefits to be derived from it were not sufficient to justify
the expenditure of the immense capital requisite for
its construction. It pleased the Legislature to view the
question otherwise, and the consequence is that this line
will very shortly be brought into active co-operation.
The existence of that company cannot now be disre-
garded, and it may be that the interest of these different
railways may not be found to be identical. Therefore
it is, that after due deliberation, I have thought it right
and to be more satisfactory to the shareholders of the
Midland Railway Company, that I should resign the
office of their chairman. I could not consent to hold the
office without devoting every energy that I 'possess to
the furtherance of their interests, regardless of that of
any other company; neither could I consent to preside
over the other two companies, without being prepared to
exert myself for the promotion of their prosperity, irre-
spective of the consequences which might result to any
other company from the policy which they might decide
on pursuing. Under these circumstances, I feel that I
best perform my duty to the shareholders by tendering
my resignation of the office of chairman. It is impos-
sible for me to do this without expressing the deep sense
which I entertain of the generous confidence which has
been reposed in me by my brothetr shareholders4nd the
high satisfaction which I have derived from the cordiality
which has prevailed amongst the directors with whom it
has been my good fortune to associate, and of the una-
nimity which has characterised all our proceedings. This
it is which has enabled the capabilities of your line to be
brought into full activity.
"I take my leave of you, gratefully acknowledging
your past kindness, and anxiously desirous for the con-
tinned prosperity of the undertaking with which I have
been identified, " I have, &c.
" GEORGE HUDSON."
At the conclusion of the letter a partial hissing took
place. . .

The CHAIRMAN said, the resignation by Mr. Hudson
was understood by the board to be a resignation of his
office as director, as well as chairman, and viewing it in
that light, the resignation had been accepted, and there-
fore he (Mr. Ellis) had taken the chair. Re had no
doubt the shareholders would recollect that Mr. Hudson
said he had made an arrangement between , the Great
Northern and the York and North Midland companies,
and, feeling it as a matter of great importance, he (the
chairman) spoke to Mr. Denison, the chairman of the
Great Northern Railway, as to the arrangement alluded
to. He inquired if the arrangement was eonfined merely
to making another route from London to York, or if it
extended to the traffic department? The answer was
to the effect that it was not a traffic arrangement,
but one simply to prevent the Great Northern
from having any further outlay of capital beyond
Doncaster. The Great Northern Company have their
Bill to York, but he believed they purposed going only
to Knottingley and Burton Sammon. This was all, as
he understood, connected with this arrangement. He
was not at all surprised that the shareholders were
alarmed at the remarks which Mr. Hudson bad thought
proper to make with respect to the Great Northern
Company, for he was one of those who deprecated most
distinctly all warfare between railway companies, as they
had too much of it already.—(Hear, hear.) There was
no advantage in fighting with each other; but when he
said so he was not insensible to the effect likely to arise
to the Midland Company on the opening of the Great
Northern Railway. The meeting was aware of his po-
sition as a director in the London and North- Western
Railway, and from the opportunity he bad of knowing
the importance of being united in action, he did not
hesitate to say, while he deprecated all war-
fare with the Great Northern, that it was his
opinion that the London and North-Western Company
was the natural ally of the Midland.—(Applause.) They
were met for the purpose of considering whether or
not a committee should be appointed to investigate the
affairs of the company. The directors, after the meeting
at York on the 20th of February, were quite ready for
an inquiry to take place; and were only waiting fur the
report of a certain committee to be made ere they con-
vened a meeting of the shareholders. A meeting, how-
ever, took place at , Liverpool on the 10th of March,
where a requisition was signed and sent before
this report was made, and the shareholders were conse-
quently now assembled. He was satisfied that there
must be generally an investigationinta the affairs of the
andrailway
il
was
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sbteofoaried ctohnefimd eenectai
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for fully-restored;
svhieh it had been convened.
Mr. A. H. WYLIE (of Liverpool) said, he moved for a
committee of inquiry at their last meeting, but although
his motion was negatived he found in a few days after-
wards that the opinion he entertained as to tho neces-
sity of inquiry agreed with the opinion of great
numbers of shareholders connected with the company.
A number of gentlemen came forward and expressed a
wish for a committee; consequently he and his culleages
undertook the task assigned to them, and acted in the
most open and manly manner possible,
closest criticism into their proceedings. They commu-
nicated with Glasgow, Sheffield, and other places, where
gentlemen were selected out of the localities to be re•
commended to the meeting to be appointed on the com-
urttee of inquiry. lie had never seen any of the par-
tiea whom he should nomin t inviting the
-a•re except three, till that
day, and, as they were all strangers' to him, he could not
be considered as having Combined to prejudge the ques-
tion. The object was to have a searching inquiry into
the affairs of the company, and he was sure such would
be accomplished. He believed the interests of the direc-
tors to be the same as those of the shareholders, of
whom he was glad to see so large a number assembled
that day. He viewed the appointment of the committee
of inquiry as not only important, but the commencement
of a new era in the history of railways, and, as there
were several objects in view—such as the reduction of
expenditure and improvements in the management of the
railway—ho hoped, that not only would these be effected,
but that the committee would recommend a rotation of
directors.—(Applause.) ll° then moved a resolution to
the following effect, namely:—
"It appearing to this meeting desirable that a commit-
tee of investigation should be appointed to examine into,
and report upon, the management and affairs of this
company—resolved, that Mr. C. Arkwright, of Dun-
stall, Mr. M'Crakan, of Liverpool, Mr. W. Smith, of
Sheffield, Mr. J. Cartwright, of Loughborough, Mr. W.
Watson, of Ayr, Mr. J. Starkey, of liudder.field, and
Mr. John Mercer, jun., of Bristol, be, and they are
hereby appointed, a committee for the purpose above-
mentioned, and with full powers to call for all books,
papers, persons, accounts, and ,documents; and to take
such other steps as they may deem advisable,and
tbetn
it
necessary to appoint a public accountant to assist
in making a full, clear, and detailed report to the share-
holders at an adjourned meeting."
Mr. E. MOSELEY, of Liverpool, seconded the motion,
f the steps the I
and made a long address expiten story
expressedo his belief
Liverpool committee had adopted,
that many of the reports bruited
about would on in-
quiry dissolve into thin air, and his Hope that railways
had now reached the minimum of their adversity.
Mr. SIDNEY, of Liverpool, said he felt confident that
the committee would discharge their duty, and, that no
false delicacy would prevent a searching inquiry. He
considered that the best proof of a man's abilities was
his integrity, and as Mr. Hudson bad had the charge of
the interests of the widow and the orphan, hetletizned it
to be his duty to act with integrity and uprightness to-
wards them. He then made several lengthened remarks
in favour of the appointment of a committee, of the di-
rectors retiring in rotation, and of having the accounts
of the company so simplified that any ordinary share-
holder might understand them.
The motion for the appointment of the committee was
then put and carried unanimously with applause.
Mr. SIDNEY then moved the following resolution—
namely :
" hat, for the purpose of receiving and considering
the report of the committee now appointed, this meeting
be, and is hereby, adjourned to Thursday, the 31st day
of May next, at one o'clock in the afternoon, at the Mid-
land Railway station, Derby.
Mr. BAINBRIDGE, of Derby, seconded the motion, and
it was passed unanimously.
The CHAIRMAN said, should the committee not be able
to make their report by the time prescribed, the directors
would take the necessary steps to fix another day for the
meeting.
Mr. Kinsmen, of Glasgow, moved a vote of thanks to
the Liverpool committee, and that they be repaid 1201,
the expenses they had incurred, out of the funds of the
company.
Mr. P. Boca., of Loughborough,
secondedthe proposi-
tion, which was carried.
A vote of thanks to the chairman, Mr. Ellis, was car-
ried with universal applause.
The CHAIRMAN returned thanks and h meeting t e
ad-
journed.
At a meeting of the committee of inquiry, held im-
mediately afterwards, Mr. Ark wright was • appointed
chairlian.

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and I despaired of a cure; lately my friend recommended
your medicines and by their use alone I soon found a
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fectly cured. I can now walk ten miles a day with as
great case as when I was twenty years old, and now I
am fifty." Sold by all Druggists and at Professor Ibuo.
way'fi Estokliibmpt, 244, Stroud, London.