The Sun.
London, England, 1838-10-25 00:00:00

ANT I-DRYROT COMP AN Y.

On Tuesday the adjourned second Annual Meeting of
the Shareholders of the Anti-Dryrot Company was held
at the Offices of the Company, No. 2, Lime-street-square,
for the declaration of a dividend, and on other business.
The meeting was numerously and respectably attended.
Mr. Wm. REVELL VIGERS having taken the chair, that
gentleman called upon Mr. Will:am Morgan (the Secretary)
to read the report ; it was as follows:
" Report of the Directors of the Anti-Dryrot Company, at a
General Meeting of the Shareholders, held on Monday, the
22d October, 1838.
" The Directors of this Company, pursuant to the resolu-
Cons passed at the last General Meetiog of the Shareholders,
11,1 d the 12th July last, have again the pleasuri, of meeting
them, and laying before them a statement of the affairs of the
Company.
At that meeting auditors were appointed by the Share-
holders, and the Directors have much sAisfaction in submitting
their audit of the affairs of the Company to the meeting, and
now declaring a dividend of 2/. per share, payable on the 30Ai
November.

" The Directors, at the last meeting, informed the Share-
holders that the Dutch Government had made a seri..s of
must extensive experiments to ascertain the effic,cy of Kyan's
process which terminated in so triumphant a manner that
tanks are established in every d ard in that kingdom.
•"The distribution of the official ',port of the Dutch Go-
vernment has been attended with the most auspicious results.

It has silenced al scepticism as to the efficacy of the process,
and confirmed its value to all who are interes,ed in the pre-
servation of timber.
" The Directors, agreeably to their promise, have made
another appeal to the Admiralty in the form of a letter to the
Earl of Miuto. This letter they have deemed it most respec-
ful to forward to his Lordship in Scotland through a private
channel, and the Directors are anxious a copy should be in
the possession of every Shareholder, that he may see no ex-
ersi PI has been wanting on their parts to show, by argument
and documentary I roof, how important it a ould be, in a na-
tio•tal point of view, were the timber of which the navy is
composed effectual), preserved from decay.
Trio Director- are sanguine in their expectation, that this
appeal will have due weight with the Board of Admiralty, to
whom it will, of cot rs he submitted by the Earl of Miuto.
hey strongly recommend, nevertheless, that a deputation
cetop.,sed of themselves and some of the Shareholders which
they wish the meeting thin day to appoint, to solicit an in-
terview with Earl Minto and the Lords of the Admiralty at a
convenient time.

D.rectors feel it their duty to deliver to each Share-
held, r a eepy of this later in order that they may be made
fulls acquainted with the merits of the case, but they do not
wish the startling facts it contains to be put&ely promulgated
at prestnt. lest they should be used as a p,litical weapon
against the present Administration, instead of a dispas-ionate
app. al to the common sense of all parties having the welfAt e
o their country at heart It would, indeed, be exceedingly
unfair to do so, till the decision of the Admiralty is made
known.

The Directors feel assured that their case is so strong, as
regards the great saving to be effoted to the country by the
in roduction ~f Kt an's p:oeess, that the subject must now be
to lc investigated by ; and the Dirt ctors with con-
fidence assert that an; unprejudiced inquiry must infallibly
end t promote the bee t interests of the Company.
" The Directors a happy to inform th S areholders that
an art augment is nearly completed which will at once seem e
to the Company their patent rights in the East Indi, s, and
enable that vast portion of the Biitish empire to reap the ad-
carnage of the introduction of Ky an's process.
" The benefit that will arise to the Company from the ar-
rangement is incalculable, for timber in the East Indies has
not only to contend with its natural enemy, the dryrot, but also
v.ith one of nearly as formidable a nature—viz., the white ant,
against whose destructive ravages Kyan's process is found to
be perfectly efficacious.
TI e Dir. ctors beefs alto to congratulate the Shareholders
on the s early increase of the use of the process throughout the
kingdom. It is now used on every railroad, and every public
Work of importance; and the best practical proof they can
give of this }Awe the case is, that !hey have found it neces-
sary to menthe ure double the quantity of corrosive blirtia..
five. They have the satisfaction of stating that they have
secured, by patent, a new and economical mode of manu-
facturing that article, which, from the extension of the pro-
cess, is now coming so largely into use, that they consider the
profit arising merely from the manufacture, holds out a fair
prospect of liberal remuneration upon the whole capital of the
Comp iny, exclusively of what will daily accrue from public and
private licences.
The Directors, however, wish emphatically to impress on
the minds of the Shareholders, that notwithstanding the in-
creased and increasing use of the process throughout the king-
dom, the Anti Dryrot Company is still in its infa, cy. The
Shareholders must consider that it is not in this country moue
that Kyan's patent will be used ; patents are secured for the
Uni•ed States of America, Holland, France, Austria, and Bel-
gium, and by an arrangement with the patentees, this Company
will have the supply of all the corrosive sublimative necessary
for those countries.
" In their last Report the 'Directors alluded to the preju-
dices of the ship-builders, prejudices which time and the in-
terest Of ship-owners will be certain to overcome ; meanwhile
they are happy to allude to a negociation which, if brought to
succtssful conclusion, will be attended with incalculable ad-
valitage to the Anti- Dryrot Company.
" A Company is about to be formed, to be called the
" Anti- Dryrot Ship Building Company," who will build ships
of timber entirely prepared by Kyan's process, and propose to
guarantee to replace all timber that may decay in them within
a certain number of years. The Directors need not expa-
tiate on the beneficial effect which this Company must neces-
sarily have on the interests of the Anti- Dryrot Company. In
the first place it will open the eyes of the ship-owners to the
importance of the subject, and must ultimately have the effect
of obtaining for ships preserved by Kyan's process a higher
class or letter on Lloyd's books, a result of itself quite suffi-
cient to induce other shipbuilders to adopt the process in their
own defence.
" Whenever the Anti-Dryrot Ship Building Company is
sufficiently mature d, it will be the duty as well as the inclina-
tion of the I/rectors of this Company to give it their most
strenuous support, and they request the co-operation of their
Shareholders in also promoting an undertaking so highly ad-
%antage.AF, to ti eir interests.
" he D rectors in their last Report recommended the dis-
pos;l of such portions of the land at Glotwest-r as might not
be absolutely r, quircd for the operations of the Cnmpany, and
they are happy to inform the Shareholdeis that they have been
enabled to ca, ry this recommendation into effect in a manner
highly advantageo..s to the Company, inasmuch as all future
outlay on the part of the Company, in order to render it a
profitable investment, is avoided. while from the circumstance
of a large portion of it haring been sold to the Birmingham
and Gloucester Railway Company for their terminus at
Gloucester, the value of the remainder is much enhanced by
They
hands Dpnoa,
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services,
Shareholders,icbestasa,vteleeanthii
leaving
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themselves
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for
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to
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future remuneration at what sum they may deem proper.
, " The Directors need hardly state, in conclusion, that
- upon
inde-
pendently of that interest in the welfare of the Company which
the number of the shares they hold must naturally reate
independently of the duties which devolved upon them,
t as
Directors, to advance the interests of the whole body of the
Shareholders, they reflect with equal pride and pleasure
having been able to place the affairs of the Company in their
present most satisfactory position, by extending the knowledge
and adoption of a process which, from its singular efficacy and
extraordinary utility, cannot fail to become universal; and,
notwithstandii g the effects of those interested in the decay of
timber, they feel perfectly assured the time will come when
the very name diyrot will be known only as a matter of
tradition."
The balance sheet of the affairs of the Company fol-
lowed, from which it appeared there remained in the hands
of the Treasurer upwards of 27,800/.
Mr. J. HUTCHISsoN, in rising to move that " the Re-
port be adopted anti printed," sad he thought it unneces-
sary to make any comment, except in one point, sa-
tisfactory was it to his maid, and he believed to all the
shareholders
leli,
might he be allowed to judge from
the ebullitionfeeling which followed the reading of it.—
oe
(Hear, hear.) The point, however, to which he was de-
sirous of calling the attention of the Shareholders was the
manner in which the Directors had discharged their ardu-
ous duties, especially when those services were given, up
to the present time, gratuitously. The value of their ser-
vices might be inferred from the Report, which had on this
occasion been laid before them, and be would say that in
no other public Company had he ever seen such strict at-
tention to the hu,ini ss and interests of the Proprietors._
(Cheers ) The Directors deserved implicit confidence, and
he hoped would be' re-elect ed.
Sir ANDREW GREEN begged to second the motion of the
Hon. Shareholder, and added his testimony to the zeal and
perseverance of the 130Ard geperativ,

Mr. EYRE desired to be informed how many gentlemen
here were now in the Direction ?

The CHAIRMAN said six, and in reply to a qustion, fur-
ther observed that there would be no necessity to increase

the number ; they all acted together in the most harmoni-
ous manner, and had not had the slightest difference in
their opinion since the commencement of their business.—
(Hear, hear.)
It having been moved and seconded by Mr. W. AMORY
that the late Board of Directors be re-elected, it was una-

nimously carried.
The CHAIRMAN thanked the Shareholders for the great
honour they had conferred on him and his brother Direc-
tors, and guaranteed a continuance of the full performance
of the duties which appeared to have given such full satis-
faction to the body of Shareholders at large.
Mr. WALEY then moved a vote of thanks to the Chair-
man and Board of Directors for past services. No pecu-
niary compensation could, in his opinion, remunerate them
for the great attention they had individually and collectively
given to the best interests of the Shareholders.
The motion having been seconded, it was carried nem. con.
The CHAIRMAN. in acknowledging the compliment, said,
on the part of his brother Directors, as well as himself, he
felt booed to say that however highly gratified they might
be by this mark of distinction, it would not act otherwise
than a further stimulus to renewed exertions for the best
interests of the Shareholders and the public at large.—
(Loud cheers.)
A vote of thanks having passed by acclamation to the
auditors of the company, Messrs. William Heseltine and
Waller,
Mr. HESELTINE returned thanks. He said, I big in
the name of my colleague, and myself, to return our grate-
ful acknowledgments for this mark of your confidence which
we have just received. For myself, allow me to say, that
when at the last general meeting I accepted the office witti
which you honoured me, I stated my deficiency with re-
spect to that comprehensive knowledge of accounts so es-
sential to the fulfilment of the duties which you had en-
joined me to perform. I promised, however, unsparing
diligence, the devotion of my time, and the applic ition of
the best energies of my mind to the subject in question. I
found, however, that whatever deficiency I possessed, was
' amply compensated by the extensive knowledge of my col-
leagu-, Mr. Waller, on this subject. We have together
I,,boured diligently, and with (let ermined honesty of pur-
pose. in the arduous task of invi stigating the affairs of this
(Amp ay. Beside your approval, which we duly estimate,
the r suit of our Lbours is one of congratulation to the
Shareholders gencrally. I beg, however, not to be mis-
understood—for you will, doubtless, agree with me
that no course is more unwise or more impolitic.
at meetings of this nature, than to raise upon pre-
sent success exaggerated and fallacious hopes of the
future—it is indulging, as it were, whilst discussing the
plain realities of business, in an enthusiasm which after-
wards the soberness of judgment will be sure to condemn.
In my conviction, the Anti-Dryrot Company needs no such
adventitious aids—its condition is substantially prosperous.
We have, in the execution of the trust reposed in us, had
ample opportunities of observation, of which we have
availed ourselves, and we have not only had occasion to
remark the extent of business transacted by this Company,
but the efficient and methodical arrangement by which its
concerns are regulated. To have an audience with Mr.
Terry, the Managing Director, has frequently been as
oifficult as to see aMinister of State—( A laugh)—and
this difficulty of admission, be it observed, has arisen from
a real pressure of business, occasioned by the extensive
connection of the present Company with all the great rail
roads. 1 wish as good a reason could be assigned in many
of our public offices, when access to principals has been a
matter of difficulty. I suspect it is not always from a pres-
sure of business—(A laugh)—however, the chief points
of congratulation to the Shareholders may be thus enu-
merated—the entire capital of the Company is paid up-
-171. lOs. on the 10,000 shares of which it is composed, have
been subscribed, without the forfeiture of a single share ;
2,11 y, the unusually small amount of the liabilities of the
Company ; they appear by the accounts to be somewhat be-
low '2.500/. ; 3dty, the rapidly-increasing business of this un-
dertaking. The Shareholder is entitled to inquire, " Is the divi-
dend I now receive fairly derivable from the profits of the
Garipany ?—have these profits been the result of orders
executed or licences granted during a period when the ex-
tent of business has been of a character not likely to occur
again ?" To this it may be replied that, independently of
those prospective sources of profit to which the Report ju.t
read alludes, the trade of the Company is almost daily
extending—progressive demand for the use of the process
constantly follows the promulgation of its effic,cy in the
various districts of the kingdom. It is on these grounds,
:hen, that we congratulate the Shareholders. Befor tI con-
clude, for I have already trespassed too much on your
no)—I may advert to a source of satisfaction
that is peculiar to our undertaking—it is, that we are asso-
ciated itt the furtherance of an object in which our own in-
ditiAual interests contribute most essentially to the public
good, the advaiirtement of the national prosperity, and the
success of this Company. Dr. Johnson has observed, "th ,t
he who causes two blades of grass to grow where one grew
before is a benefactor to his country." The acorn has been
often quoted as the emblem or germ of our national great-
ness, fa om a lowly seed becoming a monarch tree,and gat'ter-
ina• slowly in the march of centuries the elements of its mas-
sive strength. Now, it is true, we have not planted the
acorn ; thanks to our forefathers, that care has devolved upon
them, and been continued by their descendants : but if Dr.
Johnson's eulogy be correct, surely we have some claim to
that proud distinction in the total preservation of the tree
itself, by which we prolong, as it were, by a newly disco-
vered process, the blessings and the gift of Providence to
our land, and bring the acquisitions of science to subserve
the interests and glory of our country.—( Cheers.)
The CHAIRMAN then recommended the Shareholders to
propose and appoint a Committee to fix the sum for remu-
nerating the Board of Directors.
A Committee of the following gentlemen was then ap-
pointed to decide upon the remuneration to be given to the
Board of Directors, and the addition to be made to the Se-
cretary's salary :—Messrs. Amory, Valpy, Shadbolt, Wolff.
Collett, W. Heseltine, and Waller.
The CHAIRMAN said the next business to be done was the
appointment of a Deputation from the body of Shareholders,
in conjunction with the Directors, to wait upon the Earl of
Miuto for a., answer to the letter addressed by the Secre-
tary to the Noble Earl, and to gain an appointment with
with the Lords of the Admiralty. It was upon this mainly
depended the future prosperity of the Company, and they
ought without delay to renew their application to the
Admiralty.
In answer to a question,
Mr. TERRY (one of the Directors) said the receipt of
the letter had been acknowledged by the Noble Earl
through Mr. George Virtue, of Leith.
Mr. EYRE said lie knew in Woolwich Deck-yard, where
they were raising some buildings, the Kyanized timber was
used.

The CHAIRMAM—Yes, the Ordnance have availed
themselves of our plan, but we wish all the higher authorities
to take it up, and, if they refuse, we must then see what
Parliamentary friends we have, and it must come before the
public.
Mr. Eyre, Captain Eubank. Dr. Devi/sherry, Messrs.
M'Dougall, Shadholt. and W. Heseitine, were then elected
as the Deputation to accompany the Directors to the Lords
of the Admiralty, after which
A vote of thanks hating. been carried unanimously to
the Secretary for his judicious performance of his duties,
the sime compliment was paid to the Chairman for his ser-
vices on the present occasion, and the meeting then sepa-
rated.

ETAL HOUSE, NEAR BF.RWICK-UPON-TWEED.
—Lord .mud Lady Frederic k Fitzclarence have been entertaining
Lord and Lady Kelburne, and many of the neigiibotiring
nubility and gentry, on the occasion of the annual sports of
the Tillside borderers. The games consisted of rifle shooting,
quoit playing, archery, &c. Lord Frederick presented as a
prize for the foot-race a beautiful shepherd's plaid, a border
bonnet, and a st4ff. The amusements were to end yesterday.
GRACE DARLING.—This humane and heroic
female received a letter a few days ago from a laity at Aln-
wick, enclosing a 5/. note, and requesting it return tor it a
lock of her hair. Several Indies who have recently visited the
Fern Islands have solicited and obtained similar tokens of re-
membrance ; and there seems a probability, if the demand
should continue, that she will, ere long, have to seek an arti-
ficial, in exchange for the natural, coverieg of her head—un-
less, indeed, by the use of bear's grease or Maca,-ar oil 5.4.
should sue eed in producing a regular succession of crops. It
appears somewhat absurd to endeavour this to deprive Miss
Darling of her ringlets. but it at the same time shows th it her
humanity and heroi-rn have made a deep impression on those
who are desirous of p.,ssessing them. A silver cup was pre-
sented to Miss Darling a few days ago by a Nobleman who
visited the scene of the recent lamentable shipwreck.—Dur-
ham Advertiser.
At the St. Alhan's Borough Sessions, on Friday, a
woman named Smith was indicted for obtaining h.ilf a co wt;
from the relieving- officer of the district, by representing that
she received it for anotner woman, reamed Whitehouse. It
appeared that Whitehouse had been dead for two years, and
that during the whole of that time the accused h 4,1 been re.
ceiving half-a-crown a week, as if for the use of Whitehouse.
The Counsel for the accused commented strongly on the gross
negligence of the relieving officer, and the Jury acquitted the
prisoner.
THANKSGIVING FOR THE HARVEST. On
Wednesday evening, the 10th inst., the Rev. H. Gamble, of
Newport, near Barnstaple, opened his chapel for a thanks
giviva service to our Heavenly Father for the late bountiful
harvest and seasonable weather which has been afforded fo
the ingatherin,g of the fruits of the earth ;a and it was h.gii.y
gratifying to witness nearly a dozen clergymen present, end a
congregation of between six and seven hundred persons, as-
sembled to offer up
their mingled prayers and thanksgivings.
—Woolmer's Exeter Gazette.