The Sun.
London, England, 1847-10-06 00:00:00

NEWRY AND ENNISKILLEN
RAILWAY.

An extraordinary general meeting of the share.
holders of this Company was yesterday held at the
offices of the Company, 19, Moorgate-street , for the
amber of
also the
purpose of determining as to reducing the r
the directors, and the order of their rotatiem,
rate of remuneration to them for their s
trvices
for the purpose of giving effect to Vae resolution'and
passed at the ordinary general meetir,g of the Corn-
pany, on the 25th of August last, to, the effect that
the business of the Company should be carried on in
London, and that the secretary should reside there.
The chair was taken at one o'clock by the Earl of
Newry.
The meeting having been formally constituted, was
adjourned to the Guildhall Coffee-house, in conse-
quence of the rooms of the office not being large
enough to contain the number of shareholders who
were present or expected to attend.
The CHAIRMAN said that the meeting was called in
compliance with resolutions passed at the last meet-
ing to the above effect. The main object of the
meeting was to reduce the number of directors from
thirteen to ten, and he hoped that any remarks which
gentlemen present had to make would be confined to
the subjects contained in the advertisement.
Mr. SPACEMAN wished to know whether any com-
munication had been made with the Newry Board of
Directors as to the names of those gentlemen who
should retire.
The CHAIRMAN said that he was not prepared to
answer the question put to him, as to the names of
those directors who were proposed to retire. The
question which the meeting had to deal with was, that
of reducing the number of directors.
Several of the shareholders thought that the less
there was of concealment in the matter, the more
satisfactory it would be to the great body of the
shareholders.
A SHAREHOLDER wished to knew with whom the
power rested of reducing the number of directors, and
appointing those who should remain.
The CHAIRMAN said that the opinion of counsel
had been taken upon the subject, which was to the
effect that the-shareholders had the power of reducing
or increasing the number of directors, and appointing
those who should remain or retire.
A SHAREHOLDER said that he thought that that
statement was satisfactory, and if a list of the
directors were submitted to the meeting, they would
know how to deal with the question.
Mr. SPACEMAN said that he had heard that the
Newry directors wished to attach some conditions to
their retiring from office, which would entail con-
siderable expense upon the company. He considered
that these directors had no power whatever to dictate
any terms such as those, and he would at once move
that the number of directors be reduced from
thirteen to eight, and that this reduction
be effected by the abolition of the entire
number of the directors composing the Newry board,
with the exception of one of those gentlemen. With
respect to the present state of the money market,
it was in a most distressing condition, and he thought
that it behoved the directors of this company to con-
sider well the propriety of suspending the works and
calls of this railway, so far at least as it was consistent
with the nature of the contracts already entered into
by the company, and it was because the Newry
directors had expressed their opinion of forcing and
hurrying on the works at the expense of the English
shareholders, that he felt it necessary to move the
entire abolition of the Newry board.
The resolution having been seconded,
The CHAIRMAN said that, in putting the resolution
to the meeting, he could not help stating it as his
opinion that beneficial results would follow from the
government of the company being carried on entirely
by one board of management. At the same time he
felt it necessary to express the high opinion which he
entertained of one at least of the directors who com-
posed the Newry board.
The resolution was then put, and unanimously
agreed to.
Mr. SPACEMAN then proposed a resolution, regu-
lating the mode in which the rotation of the reduced
number of directors should be conducted. •
Mr. CHANCE seconded the resolution, which was
also unanimously agreed to.
A resolution, authorising three of the directors to
be a quorum, that the business of the company be
transacted at the offices of the company in London,
that the secretary be permanently resident there, and
receive an annual salary not exceeding the sum of 3001
was moved.

Some discussion ensued upon this resolution with
respect to the conduct of the solicitor of the com-
pany in making application to the shareholders for
the payment of the arrears of calls, several of the
shareholders characterising the letters as extremely
harsh.

Mr. Lxrcit explained that the course taken by
him had been in strict accordance with a resolution
of the board of directors.
The resolutions were then agreed to.
A SHAREHOLDER then proposed a resolution to the
effect of suspending all further works and calls in
this company for the ensuing six months.
The CHAIRMAN declined to put the resolution, the
subject not coming within the province of the meet-
ing. At the same time he would state, for the satis-
faction of the shareholders, that it was the opinion of
the directors that it would not be advisable to make
any further calls during the present year.
Mr. SPACKMAN thought that there would be no
necessity for carrying out such a resolution. The
directors were already aware, by the course which
had been taken, of the opinion of the great body of the
shareholders.

The thanks of the meeting were voted to the Noble
Chairman for his efficient conduct in the chair, and
the meeting broke up.

RAILWAY CALLS.
EX PRAORDINARY MEETING.

A meeting was:ealled for one o'clock yesterday, at the
Aondon Tavern, to consider the propriety of peti-
lolling Parliament to extend the time granted for
:he completion of such railways as were passed during
the sessions 1846 and 1847, and other business.
wiAtht tthhee ea
xp
opoiep nt
itoe hour
nd
of
the hr
eupt
rt
tNo or
ev
rsp
rtehsreene t e
d persons,
them-
selves, and the number had not increased to more
than between fifteen and twenty by half-past one,
at which time those present began to manifest
considerable impatience at the non-appearance of the
parties who had requested their attendance, some
asserting that the thing
.was a hoax, or that the
summoners of the meeting had become discon-
certed at the meagre audience and had " bolted,,
supposition
a which was strengthened by the
fact that every now and then persons appa-
rently deeply interested looked in and withdrew.
At length the proprietor of the tavern was appealed
to, and his reply was, that the room had been paid
for, adding, that he was ignorant of the parties who
had called the meeting, and that none of them were
on the premises.
At this juncture a person named GxEENE rose in
the centre of the meeting, and demanded to know if
there was any gentleman present who had taken a
part in convening the meeting.
A death like silence ensued. No one ventured to
reply, and the gentleman proceeded to observe
that the purpose for which the meeting was called
was an important one, and to express his regret at
the paucity of the attendance. He thought
that those who had gathered together ought
not to separate without expressing their opinions of
the way in which a large body of persons would be
affected if they were imperatively called upon to pay
their calls in the present deplorable state of the money
market.—(Here there was a faint cheer.) In his
opinion they could do very well without a chairman.
The value of the meeting depended upon the publicity
which the sentiments enunciated at it might obtain
through the columns of the newspapers, and the
newspapers had their representatives in the assembly.
—(Again this stirring appeal met with no re-
sponse.) The speaker proceeded to say that
he felt so much interest, as a large
shareholder, liable to be sued at any time, in the
object which the absent promoters of the meeting had
in view, that he would go any length, whether in
lespect of pecuniary aid or bodily labour, to promote
it. Not a soul opened his mouth ; stillness reigned
pre-eminent. At length one or two prevailed upon
Mr. Greene to take the chair, and he accordingly
seated himself without support either on the right
end or on the left.

Mr. GREENE then went on to say that he was most
desirous to take any step which would remove him
and others from the unjust position in which he and
they were placed, by the numerous cells
about to be made upon them. He had
unfortunately been connected with a large
number of railways, and in some of them he
had been foolish enough to register his name as a
shareholder—(Hear, hear)—and in every one of them
he had found engineers, needy directors, and also a
gentleman in black—commonly called a lawyer—.
(Laughter)—and when shareholders appealed to the
last-named person for mercy, he replied that the
attribute did not rest with him, as he merely
acted for the directors, who were the guardians of
the interests of a large body of persons;
adding that if they could not pay in pocket they
inust do so in person.—(Hear.) He thought, there-
fore, at Nell AJUnettire it WAS incumbent upon those