The Sun.
London, England, 1847-09-18 00:00:00

PRICE OF SUGAR,

The average price of Brown or Muscovado Sugar, computed
from the returns made in the week ending September 14,
1847, is 163. 4!4d. per cwt.

RAILWAY IN TELLIGENCE.

BIRMINGHAM AND OXFORD JUNCTION.
BIRMINGHAM, FRIDAY.—To-day an adjourned
meeting of the above company was held at Dee's
Royal Hotel, but owing to it being known amongst
the shareholders that the business of the adjourn-
ment would not be gone into, there were compara-
tively few present.
At two o'clock, P. H. MUNTZ, Esq., took the chair,
and opened the meeting by observing that the present
was an adjourned meeting from the 31st of August
last. He was not present at the last meeting, but his
friend, Mr. Mathews, was kind enough to take the
chair and act for him, so that he was not acquainted
with the proceedings, but he understood it was ad-
journed.

Mr. MOZLET said, in pursuance of that adjourn-
ment they were then met, and it would be necessary
for him to make a few observations. They should,
however, be few, and be confined within the scope of
the agreement between the Great Western Company
and the parties opposed to the proceedings of the di-
rectors. It was his intention to move that the pre-
sent meeting be adjourned to the 16th day of No-
vember next, in consequence of two suits now Pend.
ing, one of which was ordered at the last meeting to
come before the Vice Chancellor, and the object of
which was to restrain the directors of that com-
pany from proceeding: further with the works. The
other suit was by the Great Western Company to
compel the directors to carry out the sale of the line.
By an arrangement these suits are to come before the
the Lord Chancellor at the earliest period, and be de-
cided by him, and hence the necessity for the adjourn-
ment he was about to propose. The only question
between the dissentient shareholders and the directors
was, whether the sale made on the 4th December was
valid or not. tie could only say, as he had often be-
fore thrown out, that, so far as he was concerned, he
was glad the course now being adopted had been re-
solved upon. He was glad that the question was
about to be settled, end nothing would give him
greater pleasure than that the point in dispute should
he decided; and if it was decided in accordance with
the wish of the Great Western Company, and that
that body did not do anything to lead to further un-
pleasantness, he should not do anything as one of the
shareholders to interfere with them. But if the spirit
of the agreement now entered into was not adhered to
—he cared not by what words it might be
sought to evade it—he should hold himself at
liberty to take any course he might think proper.
Beyond that, he did not think it prudent at present
to say. The earliest period at which the question
could be decided was the 2d of November next,
and he hoped the decision would be come to
on the earliest possible day after that time. It would
be in their recollection that he felt it his duty to
state, at a meeting of the directors, that he should
feel it his duty to adjourn the present meeting to
Liverpool, in consequences of circumstances which
had occurred rendering that course necessary. lie
thought it right, however, now to say that, in defe-
rence to the chairman, he had been induced to alter
his thterinination upon that point. He (Mr. Mozley)
was aware of the exertions which that gentleman had
made to bring about a settlement, and he was al-
ways most willing to give credit where it was due.
Although he had a right to move the adjournment to
Liverpool, he would not do so, but move that the next
meeting be held in Birmingham. One or two words
more. lie did consider, that in conformity with a
resolution adopted at a public meeting of the company
no call ought to be made at present, and that the
shareholders ought not to pay the call so made. That
was his individual opinion ; and he would again repeat
he did not think the call ought to be paid until the
matter was settled. He now moved that the meeting
be adjourned to Nov. 16, at three o'clock.
Mr. PARSONS seconded the resolution, and said he
had riot been present at the two last meetings, and
perhaps could not attend the next, and he could not
now omit the present opportunity of testifying the
high opinion he entertained of the zeal and ability
with which Mr. Mozley had conducted the business
of the shareholders. It was a very irksome duty whieh
that gentleman had had to perform, and he had dis-
charged it with great perseverance and energy. He
had the support of four-fifths of the shareholders, and
he was entitled to their support, and would n-3 doubt
have it whenever he required it. Were it in accord-
ance with the order of proceeding he would then
move a vote of thanks to that lion. Gentleman.

Mr. PEYTON said he could not forbear observing
that even the shareholders who had attended the late
meetings could form a very inadequate idea of the
services rendered by Mr. Mozley to the shareholders.
They had a body of directors acting illegally—(Cries
of " No, no," " Yes, yes")—continuing to act con-
trary to the wish of the shareholders ; and it was a
matter of great importance to them to have such a
person as Mr. Mozley, who had attended so warmly
and energetically to their interest at a time when their
directors were acting illegally—(No, no). He would
say they were acting illegally, not only according to
the advice of the counsel oppcsed to them, but in
opposition to their own counsel—(Cries of " No, no)
—against the advice of Sir Fitzroy Kelly.
Mr. R. SPOONER, M.P.—No. Have you seen that
opinion ?

- Mr. PEYTON.—No.
Mr. SPOONER—Then I contradict that assertion.
Mr. G. WHATELY—He never advised us contrary
to the course we have taken.
Mr. PEYTON—He advised you to rotate.
Mr. SPOONER and Mr. G. WHATELY--No, he did
not.

Mr. BEALE—I have the opinion in my possession,
open to any gentleman.
Mr. ASTON said, as one of the original share-
holders of the company, he could not allow the ob-
servations made by some of the speakers to pass un-
noticed. He could not allow it to go forth that it
was the opinion of that meeting that the directors
had been acting illegally. He from the very begin-
ning of the undertaking approved of the course which
they had taken—it was the only course open to them
—it was the only straightforward course they could
have pursued, and such was the opinion of many of
the shareholders.

The CHAIRMAN said he would only say a few
words with respect to the observation that they had
been acting illegally, and contrary to the advice of
counsel and upon their own authority. Now such
was not the fact. Ile was bound to say that the
course they had taken was in accordance with every
opinion they had taken. Every gentleman whom
they had consulted unequivocally gave their opinion
in favour of the course they had pursued. If there
had been a single dissentient opinion, it might have
(as we understood the chair) altered their course.
The motion of adjournment was then put and car-
ried, after which the meeting separated.

AIRDRIE AND BATHGATE JUNCTION.
The second annual general meeting of the above-
named company, pursuant to the Act of Incorpora-
tion, was held on Wednesday, in the Star Hotel,
George-square.—James Lindsay Ewing, Esq., occu-
pied the chair.
The company's seal having been affixed to the list
of registered shareholders,
Mr. ...gmEr, the Secretary, read the report of the
directors, of which the following are the principal
portions :—No material alteration having taken place
in the affairs of the company since the previous half-
yearly meeting in March, a brief report on this occa-
sioni will suffice. As explained in the report to the
G transfer-laa
:
Edinburgh re gd of
hand
bow Company was prepared and submitted to their
agent for revisal,but it has not yet been finally adjusted.
Your directors were of opinion that that company was.
bound, at one and the same time with
eleliverY of the
deed of transfer, to execute and allocate the stock pro-
vided for by the Act, and accordingly a clause was in-
troduced with that view, but which was objected to by
the Edinburgh and Glasgow Company. On this
point the directors have taken the opinion .of eminent
counsel, and are advised that the Edinburgh and
Glasgow Company are bound, simultaneously with
receiving delivery of the deed of transfer, to create
and allocate stock, and deliver certificates to the
shareholders of the Airdrie and Bathgate Company,
and that the directors are not bound. or entitled. to
recital therein of the
grant the conveyance on a
,mere
Edinburgh and Glasgow Company being bound in
futuro todirectors have, therefore, and
do so. The
as advised by counsel, called on the Edinburgh End
Glasgow Company, in form of notarial protest, to
create and allocate stock in exchange for and simul-
taneously with delivery of the deed of transfer and
conveyance in terms of the statute. The reporrt con-
cluded by stating that Messrs. Andrew Buchanan,
James Reid, and Andrew Perston, went out of office
by rotation, but might be re-elected, and that the
same was the case as respected Mr. Cunningham, the
auditor.
The CUAIRMAN moved the approval of the report,
which was duly seconded.
Mr. P. BLACKBURN moved, as an amendment, that
the following be elected as directors, in place of re-
electing the three gentlemen named in the report :
Henry Dunlop, J. G. Adam, Peter Blackburn. This,
amendment was carried.
Mr. Ctuminghana was re-elected Auditor.