The Sun.
London, England, 1847-03-01 00:00:00

THE BIRMINGHAM AND OXFORD

JUNCTION RAILWAY.

RENEWAL OF THE WAR BETWEEN THE
GREAT WESTERN AND LONDON AND
NORTH- WESTERN. . .

On Saturday afternoon, at two o'clock, the usual half-
yearly meeting of the Birmingham and Oxford Railway
Company took place at Dee's Hotel, Birmingham. As
it was expected that the quarrel between the two great
companies, the London and North-Western, and the
Great Western, would be re-opened, most probably, with
greater violence than ever, there was a very strong
muster of the friends of both companies from Liverpool,
London, and all parts of the country. Among the per-
suns present we observed Lord Hatherton, Mr. Charles
Russell, 31. P , chairman of the Great Western ; Mr.
Spooner, M.P. ; Captain Carnegie, M.P. ; the Hon.
J. C. Talbot ; Mr. Muntz ; Mr. Brunel, engineer of the
Great Western ; Mr. Saunders, secretary of the Great
Westein ; Mr. Mosely, of Liverpool ; and several of the
directors of the London and North-Western Company.
Mr. Muntz, chairman of the company, and brother of
Mr. Muntz, M.P., took the chair.
The SECRETARY having read the advertisement
calling the meeting, and also the report, which was
very brief, and merely referred to the measures which
were being taken to forward the works, and to the cir-
cumstances of a call of 51. being about to be made,
The CHAIRMAN rose to move the adoption of the
report, and in doing so, begged to state that every effort
would be made to complete the line as speedily as
possible. Some unavoidable delays had taken place, but
he had
the
dno
specifieddoub tthtaitnet
the
. With lineith would
drbeto completed
within ed
wi
which had taken place in getting theg transfers made
and regarding which there had been many complaints,'
rhtiae begged
lpeidimi impossibility
say
bhiel3i.ty tohfat thegetit dingelaty arhetorsae in
asfercsocioismerlactnecde
as
were applied for. For some time they
had had as many as one hundred and fifty applications
for transfers in one day. The call had been
met with a promptitude never surpassed in the
history of any company. Indeed, so eager were some
gentlemen to make sure of having paid their calls, that
iate
they actually wished to pay them twice over—(Loud
—and he was sure the forthcoming call would
be quite as well responded to. He wished to take that
opportunity of stating, that since the agreement with
the Great Western had been completed, an offer had
been made by the London and North Western Company,
of much higher terms than they had received from the
Great Western. He felt it his duty to make thisinti-
mation to the shareholders, in order that they might
officially be acquainted with all the circumstances con-
nected witk the case. It was the more necessary he
should do so in consequence of what had since occurred.
The directors could not accept of the offer of the London
and North Western to take the line at 151. premium,
because they had previously ratified the bargain with
the Great Western Company. Mr. Moseley
Moseley was the
gentleman who gave the first Ttimatio of the intention
of the London and North-Western Company to make
this offer.
Mr. MOSELEY—I beg to state that the offer was made
by me, but not in the name or on behalf of the London
and North-Western. I wish this to be distinctly under-
stood.—(Order, order, and hear, hear.)
The CHAIRMAN—The London and North-Western
had since then made the same offer in a letter from that
company.—(Hear, hear.) I deeply regret that the offer
has been made ; for the offer having been made after the
line had been legally sold to the Great Western Com-
pany, it had only
.had the effect of creating a great deal
of unpleasant feeling.—(Hear., hear.) I muss also al-
lude to a letter which some time ago appeared in the

public journals with the name of Mr. Moseley attaohed
to it. I presume Mr. Moseley will acknowledge the
letter.
Mr. MOSELEY-1 do.

The CHAIRMAN then went into a statement of the
various circumstances alluded to in that letter. lie
dwelt with much emphasis on the fact tint in October
last year, at a meeting of the shareholders, they unani-
mously, not even excepting Mr. Moseley, called on the
directors, indeed morally compelled them, to enter into
negotiations for the sale of the line, and even named the
Great Western as the only company with which they
were to negotiate.—(Hear, hear) This was not only
without the knowledge of the directors of the Birming •
ham and Oxford Junction, but it was against their incli-
nation. Tbey merely agreed to negotiate with the
Great Western, because they felt they were bound to
accede to the unanimous wishes of a meeting of the
shareholders. lie denied that the directors had done
anything wrong. They had but carried out the wishes
of the shareholders, and the agreement being made, they
would abide by it. Lie now moved that the report be
adopted.

Mr. CROSSWAITER, Of Liverpool, secon led the motion
for the adoption of the rerort.
Captain CARNEGIE, M.P., wished to ask, before the
question was put, whether it was the intention of the
four direeters, who, according to the Act of Parliamettt,
were to retire at that meeting, to retire from the board ?
The CHAIRMAN—The point Ri to whether they are
legally bound to retire at this time is one which we anti-
cipated m;ght lead to some misunderstanding in that
room that day, and we have therefore taken the precau-
tion of getting the opinion of the Attorney-General, the
Solicitor-General, Mr. J. C. Talbot, and Mr. Godley.
and they are unanimous in the opinion that none of the
directors are bound to retire.

Captain CARNLIGIE said that a body of shareholders
had also taken the opiaion of the most eminent counsel
on the point, and that opinicn was, that if the usual
number of directors did not retire, the directors would
occupy their places at the board illegally. (Loud cheers.)
As many of the shareholders had not had their attentoin
called to the matter, it would only be a matter of
courtesy on so important a point, that they should have
a fortnight to satisfy themselves on it. He would there-
fore move, as an amendment, the adjournment of .the
meeting till that day fortnight.
Mr. MoSELEY wished, before the question of adjourn-
ment was put, to make some observations of an explana-
tory nature, in order that no misconception might exist
as to the facts of the case. (Hear, hear.)
The CHAIRMAN.—I have no wish to stop Mr. Moseley.
The more he speaks the better for us; but Mr. Moseley
must be aware, that on a question of adjourning the
meeting it would be irregular to go into matters of the
nature which Mr. Moseley wished to bring before the
shareholders.

Mr. MOSELEY—v_ think it very extraordinary on the
part of the directors, that, having acted contrary to what
was believed to he the law of the case, and also in oppo-
sition to the interests of the shareholders, you should now
sock to shirk the question and get rid of the responsibility
you have incurred by availing yourselves of a mere ques-
tion of form.—(Loud cheers.) !should have thought you
would have been glad of an opportunity of giving an
explanation. It is well known, at least it is believed,
that you, the directors, have parted with the greater
part of your interest in the company.—(Loud cheers.)
If you will tell the meeting on what grounds you attempt
to justify your procedure, when the meeting thought
that procedure contrary to law, the meeting will now be
glad to hear what you have to say in your own justifica-
tion. If you have aething but the interests of tho share-
holders at heart ; if having made all the profit you could
out of the property—(Loud cheers)—you are now de-
sirous of becefiting the shareholders by the course you
have determined to pursue, you surely can have no ob-
jections to state the grounds on which you have acted,
and still mean to act.

A SHAREHOLDER (with much vehemence)— Why do
you conceal anything ?—(Cheers.)
The CHAIRMAN—That gentleman need not gesticulate
so violeutl).
A SHAREHOLDER—Give US the opinions you have
received from counsel.

The CHAIRMAN—This is not the proper time for that,
when the question of adjournment is before the meeting
—(Cries of " Oh, oh.")
Mr. MOSELEY—You must be aware that there are
reports current in Birmingham; and everywhere else,
which are not creditable to your character as directors
of this company. It is currently stated that you have
purposely sacrificed the interests of the shareholders to
purposes of your own, and that—
The CHAIRMAN—The statement you make is false.—
(Cries of " Order, order," and a great sensation among
Mr. Moseley's friends.) I do not mean that what Mr.
Moseley says is false, but that the report to which be
alludes is so. _ _

Mr. MOSELEY —4 Sm glad, Sir, that you have with-
drawn that word: If you had nut I should have sat
down. It made the blood rush to my face. Though I
do not belong to a certain assembly, I have the spirit
and sense to resent- any insult, by whomsoever offered
(Iker.) •
Lord ITATHERTON— It was not meant personally. I
did not so understand it.—(Hear, hear.)
The CHAIRMAN—I did not mean anything of a per-
sonal nature to the Hon. proprietor. I merely referred
to a statement of othera which he was quoting.
Mr. MosELY—I am Wad to hear Lord Hatherton say
so, and else to receive a renewed disclaimer from you,
Sir. I will now forget the matter. I repeat that the
property has been sold much below its real value. It is
with the view of getting a fair price, and not getting the
line for the London and North Western, that I am pur-
suing the course lam now doing. If the Great Western
had given the full value for the property, you should
never have heard a word of complaint from me. It was
because the proper value is not given that I resolved on
adopting thecourse lam now pursuing.— (Hear.) It is not
as a shareholder of the London and North-Western that
I stand here. I stand in this place as a shareholder
only of the Oxford and Birmingham Junction. I have
to complain of the chairman of the Great Western
(Mr. Russell) representing me as having said at a former
meeting that I was the mouthpiece of the London and
North-Western. I beg to deny that I ever said any-
thing of the kind. It was a personality to attribute such
words to me. I ask the chairman of the Great Western,
as a gentleman, is he prepared to substantiate the words
he has imputed to me?
The CHAIRMAN—We are not here for the purpose of
going into matters of this nature. The words Mr.
Moseley complains of were not used at any meeting of
this company.
Mr. MOSELEY—They were used by Mr. Russell, and
that gentleman is present. I should have supposed that,
as a gentleman, he would feel glad of an opportunity of
either substantiating oa retracting his words.—(Cheers.)
Mr. RUSSELL—I beg the chairman not to interfere
between me and Mr. Mosely. When he has finished his
(observations I will answer him.—(llear.)

Mr..blosELEr —lt is the custom in the House of which
Mr. Russell is a Member, for gentlemen to make an)
personal explanations which may be necessary wheneTer
appealed to for the purpose.
Mr. RUSSELL—The Hon. Proprietor is quite wrong
as to the practice in the House of Commons. The
Speaker will not allow any such interruptions to the
usual proceedings to be made.
_ . . .

Mr. MosELEY—Mr. Russell must be aware that such
is not the practice. Whenever a Member complains
that he has been misrepresented, the party of whom he
complains must get up and explain at once. The Hon.
Gentleman refuses. This is only a continuation of what
has before taken place. Tho directors are to be every-
thing, and the shareholders nothing.—(Great cheering.)
I will not submit, so far as I am personally concerned,
to conduct of this nature. I demand a retractation or
substantiation of Mr. Russell's words.—(Cheers.)
The CHAIRMAN—I cannot see what I have to do with
a quarrel of this nature, which arises from what appeared
in the newspapers.

Mr. MoSELY—I give you great credit. Sir, for your
anxious endeavours to serve your colleague.—(Loud
cheers, mixed with a few faint 'ibises.) I should have
expected that Mr. Russell, as a gentleman, would deny
the charge if not true. It is a matter in which all the
directors were interested, and they would have felt it eo
unless the profits they had made by their shares had
blinded them to everything else.—(l49lo applause with
laughter.) lam Mr. Russell's equal in every respect,
and will not tamely submit to be maligned by him. I
wish that there may be no mistake on that point. I
state in the boldest, broadest, and most distinct manner,
that I never used such language, and I defy any breath-
ing man to prove that I did.—(Applause.) I will nut
be daunted nor diverted from pursuing the course
which 1 think proper in reference to this company. I
repeat what I before said, that the salo of the line
to the Great Western was made when the real share-
holders were not in a position to vote.—(Deafening
applause.) I say that it was disgraceful to act ;in this
manner. Yon may " Jump Jim Crow" as you will,
but you shall not be allowed to have matters your own
way. I warned you that when the registration was com-
pleted, we would undo what you have done. You have
acted illegally throughout, and that you will
.find out
before a long time has elapsed. You have sacrificed the
shareholders. The value of the line, as being confessed
by yourselves the battle-field of the broad guage question,
must have been apparent toyou. You could not have
acted as you have done from ignorance ; but we have de-
termined not to be defeated. I have entered on my
course and will pursue it.—(lmmense cheering.) We
have at least seven-eights of the shareholders with us.
I shall not retire from this contest so long as there is
one inch of ground on which to battle, with you. Mr.
'Moseley then sat down amidst greet cheering.
Mr. RussELL, M.P.—I will now answer the question
of the Hon. Proprietor. I was not present at the meet-
ing at which he was said to have made use of the lan •
gunge imputed to him. In making the statement I did,
I acted on information communicated to me by gentle-
men who were present, and they assured me, and they
still believe, that he did use the expression, that he was
not only authorised to make the offer of la premium
on the shares of the Birmingham and Oxford
Junction Railway, but that ho was the mouth-
piece of the London and North-Western Com-
pany. I have no right to doubt that gentleman's
word, after the disclaimer he has made, but it is right I
should say that the whole eireurnita.nces connected with
the conduct of the London and North-Western Company
in reference to this company, must come before a higher
tribunal, in order that the whole matter may be
thoroughly sifted. It will then be for us to get what
proof we can of what was actually said on that occasion,
and it will be for Mr. Mosely to disprove, if he is able,
his having so expressed himself. But even supposing
the words had been erroneously imputed to him, I cannot
see what right he has to complain. It is no imputation
on him. Good God ! am I to be prohibited from re-
peating language which I had been told by most respect-
able persons the floe. Gentleman made use of at a public
meeting. This, gentlemen, is perfectly puerile.—(Cries
of "Name your authority.")
Mr. Moss LEY—Give us the name of your informant
at once.—(Uproar and cheers.)

Mr. RUSSELL—I will give no answer het
answer it in another place.
Mr. MOSELEY (with vehemence)—That, lof itil,°lli.
discreditable. Mr. Russell brings a charge a pont
and then seeks to shelter himself by a threat oi
proceedings. Let him take his course. He lhasl;
mitted an offence, and he himself shall have toe, hear
punishment.—(Loud applause.).
—a— - lane d red
direct ors Rne
Mr. SPOONER, M.P., raid the meetlog 11
from the great question at issue. The'
acted in accordance with the wishes of the' Aar ehola ;s
Wino
in selling the line to the Great Western. It
choice of theirs ; on the contrary, they were' 111:11nlie,
at the time to dispose of the line at all. They
as honest men, carry out the agreement um ler c
cumstances.
The motion f-r adjournment till this day fo rtenigh„S was
then put and carried, with only one dissentiei it
The friends of the Great Western, seeing thol
nents had an overwhelming majority, did not 01)°,5"a
amendment. The extraordinary proceedings of Luha,lia
then closed, without even the customary vote Of t"—
to the Chairman.