The Sun.
London, England, 1841-08-21 00:00:00

affirmed solemnly that the t• ansaction which had been ex-
plained, was the only one he had ever been concerned in,
either in buying or selling shares. He never had had
any shares in any Joint Stock or • Railway Company
before this in his life.—(Hear, hear.) It was stated
in one of the railway newspapers that a meeting of the
Directors Was called for the purpose of taking this transaction
into consideration. That was not the fact, for the conversa-
tion on that subject took place at the regular meeting of the
Directors on the Tuesday, and he owned then that he had
sold his shares, and, therefore, must at once resign his seat ;
at. the same time denying that he had sold them for the pur-
peso of depreciating the property of the Company, in which
he had a deep interest, and which he had done everything
in his power to promote. He then read a letter from the
Secretary, dated 16th October, 1840, requesting him, in the
name of the Directors, to put his name to a promissory note
for 10,0001., which had been signed by all the Directors. He
did sign the note, and could he want to depreciate the pro-
perty when be had incurred so large a liability? Mr. Salo-
mon's sad in.his published letter, that the funds were furnished
by the influence, responsibility, and means of the Directors.
gut Mr. Salomons was not one of those who signed the note.
(Cries of " Question, question.")
Mr. Se LOMONS said he was not one of the Directors at the
time.—( Hear, bear. )
Mr. Hu al PHIS RY—lt was said that every one who was liable
had security, but he (Mr. H.) had no security whatever.
Mr. SA LOMO NS would discharge the worthy Alderman from
all liability at once.—( Hear.)
Mr. CRAWSHAY said that every person engaged in such
concerns as this must incur Lability ; and he, as Chairman of
another Railway Company, was liable in large amounts, but
with such security, as we understood, as lett him no reason to
care about it. But others might not wish those matters to be
made known, and it might be injurious to them. But at all
events this topic had nothing to do with the present subject,
and the diseussion seemed to be highly inconvenient.— ( Hear.)
Mr. Alderman HUMPHERY only wished to show that he was
liable, and .that his property was liable to the amount of
47,000/. For however well off the other persons might be,
every man was liable to casualties, and it was possible that the
whole loss might fall upon one men.---(Cries of " Oh, oh,"
and laughter.) He had never trafilicked in shares.—(" You
sold them.") Every man had a right to sell if he bought, and
-she •Comtesn.y wouldise very ,much obliged to a man who should
buy. up a 1 their shares at 8 cliscomit-, and ooze them all oat
again, lien he got them up to a premium of 3 per cent.
Mr.Crt A WsltA v said it was clear that the Alderman had sold
shares which he aid nor possess ; for there it was in his own
handwriting, when he made the acknowledgment to him—
(Mr. C.) in the presence of the Chairman—(Hear, hear. )
" But," continued the Proprietor, " If there is nothing against
you but this, 1 think that I have fully explained it."—(Cries
of " Hear, hear.)
Mr. Alderman Elvatestrav said that he did not know at the
time that there was anything irregular in what he did. He
had never sold a share before, and he had never sold one sinew.
No man could be surprised that he was irritated at the man-
ner in which he was assailed. No sooner was the resolution
censuring him passed, than a paper, capable of the worst con-
struction, accompanied by an anonymous letter, was sent to
every one of his constituents ; and a paragraph of the mast in-
jurious kind was sent to all the papers in Dublin to meet him at
the Docks as soon as he landed.
Mr. CRAWSHAY--Yoll know that was not done by the Di-
rectors, but by a political party who got the information from
the newspaper reports of the meeting.
H u 311.11EitY had not, however, read the specific charges
against hint until his arrival in London, and he wrote the letter
in the newspapers the sane day. It was under those circum-
stances of irritation, ha said Mr. Salomons and others had calls
in arrear. He now repeated that statement. He left London
on a Tuesday, having, on the Saturday before, seen the ba-
lance-sheet, in which it appeared that there were upwards of
20,000/. in arrear, of which the greatest part was in the name
of Mr. Salomo;.s. But that gentleman, in his published letter,
said, that " up to the day of the last meeting (when the reso-
lution against Alderman Humphery was passed), no shares had
been forfeited, and the arrears were inconsiderable, of which no
part were upon the shares of a Director." That might be the
case upon the day named by Mr. Salomons, but the fact was,
on the day to which he (Mr. H.) alluded, precisely as he had
stated.--,-( Great interruption, and cries of " Name by whom.")
Mr. Salomons had said, t hat his statement was untrue.—( Hear,
hear, from Mr. Salomons.) Then the papers ought to be pro-
duced, which would show whether he was right or wrong.—
( Hear, hear.) He next came to the charge that the Dim-
tore had voted 5001. to one of their own body for expenses
incurred by him in obtaining the Act of Parliament.
He (Mr. Humphery) opposed that vote ' • but he said at the
same time that if pait at all it ought to be paid out of the
fees of the Directors, which latter, however, he had always
contended ought never to be. paid until the line was opened.
His opposition on that occasion had caused great hostility to
him, which was still continued.
Mr. CR.AWsHAY asked the worthy Alderman whether as a
plumber of Parliament he was not aware that, in getting Bills
passed through Parliament, expenses were wisely and expe-
diently and honestly incurred, which it would be most incon-
venient to specify in detail ?—( Hear, hear.)
Mr. HUMPHERY knew that was the case, and if he was not
very pure himself, he could not appear there that day to defend
himself.—( A laugh.) He had heard that a great deal of money
laid out in the progress of Railway Bills amongst Members of
both Houses of Parliament.—( Hear and laughter.)
Mr. CRAWSHAY must be allowed to bear testimony to the
exertions of the Director alluded to (Mr. Robertson), who had
expended much more than the 5001., which, however, was
paid out of the fees of the Directors —(Hear.)
The CHAIRMAN requested that Mr. Alderman Humphery
would be allowed to make his explanation, and when that gen-
tleman had done, he would correct him in some points in which
he was unintentionally misleading the meeting.—( Hear.)
Mr. II tiallslielte could not have insisted that the 5001. should
be paid to Mr. Robertson out of the fees of the Directors, for
nothing else was ever proposed by anybody, or even thought of.
( Hear.) It was. as always intended, paid out of the fees, and
the vouchers were now in the room.
Mr. Alderman Hu Arrit ERA" said the only fair way would be
to appoint a Committee of Gentlemen, who had not been Di-
rectors, to examine the vouchers.—(Cries of •‘ Hear, hear,"
and " Oh, oh.") Ever since his last election he had found that
he was not paid that attention to which he wa. entitled. The
Hon. Alderman then went into a lengthened detail of altera-
tions in the plans of the engineers, and in the materials to be
used, which he had suggested and which had ultimately been
adopted, after his suggestions had been rejected, with great
slight to himself by the Board and the engineers. He then
proceeded to denounce as unprofitable and hazardous to the
Company, the arrangement which had been made with the
East and West India Dock Companies for the use of the Black-
well Wharf and Pier, from which he said the Dock Companies
could, whenever they pleased, shut out the traffic of the
Railway. (Laughter end cries of " Oh, oh.") The
greatest care was necessary in the management of
that Railway Company's concerns. The East and
West India Docks were certain to be greatly benefited by the
Railway in the carriage of their goods—(Cheers)—but time
would show whether the interests of the Railway had been as
well secured, and its affairs as well attended to. Before he
sat down he must observe, that it was rather extraordinary that
this meeting should have been called—he had no doubt un-
knowingly—for the very time when he was engaged to be
present in another place—the House of Commons. In conclu-
sion, he assured the meeting that he always felt, and still did
feel, the strongest interest in the prosperity of the Company ;
and if he had unwittingly done anything which could tend to
injure it, he would make amends by doing it great good.—
( Hear, hear.)
Mr. RENNIE said that he had proposed the resolution at the
last meeting respecting Mr. Humphery, because he thought
his conduct, in selling 100 shares he did not possess, was
highly improper, especially on the part of a Director. He
should feel very happy, if the Hon. Alderman had exonerated
himself in the judgment of the meeting.
Mr II e EMI wished to make a few observations upon what
had fallen from Mr. Alderman Humphery. And, in the first
place, he could assure him, with sincerity and truth, that the
fact that he had engagements elsewhere (alluding to the meet-
ing of Parliament), was not known to the Directors. With
reference to the promissory note, to which Alderman Hum-
• phrey had alluded, lie could assure him and the meeting that
its amount was amply secured, that security being the future
cads of the Company.—(Cheers.) With respect to the surplus
of capital of the Company, he was sure it would be satisfac-
tory to the Proprietors, when he stated that he and his
brother Directors were satisfied that they would have ample
the ,g r
risk oefa tproj
requiringctt efyo
further
ri n viewad
ftroo itsfrom
thefull
vSmheaaer'ne"th'ooflwdeleatrhrsrLu. tn(gtChheli te
) As to the anonymous letter that
had been referred to by the worthy Alderman, he could assure
him that the Directors had no knowledge of it. Then, as to
Mr. Salomons' letter, and the fact of his not paying his calls,
it was necessary that- he should state the circumstances under
which Mr. Salomons had become a Shareholder. About a
year ago that gentleman had formed an opinion that the pre-
sent railway would be a profitable concern; and the Directors
having 750 shares undisposed of, Mr. Salomons proposed to
purchase them at 2/. premium. The Directors consideed
this an advantageous offer, upon the clear under-
standing that Mr. Salomons was to pay for those
shares, and the calls upon them, at his perfect convenience.
It was true that Mr. Salomons, at the time alluded to, had not
paid his calls upon those shares, but he hadmade arrangements
fur so doing. If, therefore, Mr. Alderman Humphery had
bean aware of that, he would not have made it a charge against
Mr. Salomons. Then, as to the 500/. that had been alluded
to ; that had been paid out of the Director's fees, and any Pro-
prietor that chose might satisfy himself of that fact by looking
to the books. As to the proprietybiassinabiassing of
of that grant, he was him-
self satisfied that it was an inadequate remuneration—(Cries
hhteaorp"o)o—athned, as
opfrotohfe oflas t tßhialtl,
through
would
Parliament, the gentleman to whom that
selfrafotoe's'othsilaise,orfta
grant had been made had been subject to some considerable
that he should give them an account of those expeniesi
expenses. The Directors were aware of that, and were anxious
which
he declined to do. Mr. Humphery had enacted to the private
letter written by Mr. Stevenson to himself (the Chairman).
He had also alluded to the wharf at Blackwell being the pro-
perty of the East and West India Dock Compani and said
such was the fact ; but the Railway Company had a lease of
that wharf at 600/. a-year for ever.—(Cheers.) That he
thought was as near to actual possession as could be.
Mr. Alderman Hu:strifeless wished to know whether it was
let as a wharf upon which they could land goods.
The CHAIRMAN—his a wharf for the landing of passengers.
Mr. Alderman Hymeneal.- wished to know whether they
could employ it as -a wharf independent of the East and West
India Dock Company ? If they could not, it was useless to
them.

The CHAIRMAN said that it was left to them for the pur-
pose of landing passengers, at 600/. a• year. As to the up-
train goods, it was true that the Docks would derive advan-
tage, which, for his own part, he trusted they would do, because,
as the Railway could not carry goods for nothing, there was a
source of revenue to the Railway Company from that. Having
made these statements, there was one thing which he must
observe upon generally, and that was this—Mr. Alderman
Humphery had complained that he had not been well treated
at the Board, that he had been alighted, and that he had not
been heard. Now he (the Chairman) must give a positive
de. nial to that. lie had been heard most fully; it was true
that in some meetings discussions were carried to too great a
length, and then it sometimes became the duty of the Chair-
man to call parties to order. He (the Chairman) might have
felt himself called upon to call the worthy Aldermantoorder, but
in doing so, of this he was certain, that he bad never given a
preference over Mr. Alderman Humphery to any other person
As to the statement that Mr. Alderman Humphery had been
voted out of the Directot ship, for the purpose of making room
for him, the Chairman, Ike., he had only to say this, that it was
true that the vacancy bad been filled up by his son; and he be-
lieved he might say that there was no person who felt more
than. Mr. Alderman Humphery did the necessity of his son
being a Director.—( Cheers.) But it was quite wrong to say
that Mr. Alderman Humphery had been ousted for that pur.
pose ; for the truth was, that when the necessity was felt of one
of the Directors going out to make room for his son, a