The Sun.
London, England, 1841-07-17 00:00:00

PANY.

Yesterday the half-yearly meeting of this Company
was held at the London Tavern, Ilishopsgate-street,

William Shadbolt, Esq., in the Chair.
The CHAIRMAN said, that previous to the reading of
the Report, he wished to mention a circumstance which
he was sure the Proprietary would be as glad to hear as
tie was to detail. And it was, that Mr. Entwistle, one
of their Directors, had consented to become one of the
Directors of the Brighton Railway Company, and there-
fore had tendered his resignation, though he still conti-
nued his valuable services in superintending the progress
of the works, and would continue to do so until their com-
pletion, and continue his seat at their board, provided he
was requested by the body of the Proprietors ; but having
once sent in his resignation, he thought that he could
not consistently resume his seat without their approba-
tion.—(Hear, hear.)
A resolution was then put, requesting Mr. Entwistle
to resume his seat at the Board. That gentleman having
returned thanks,
Mr. WILSON, the Deputy-Chairman, read the Report,
which after some financial statements, went on to state
that a great increase of business was to be anticipated on
the completion of the joint station for Greenwich, Croy-
don, and Brighton, and particularly on the completion
of the railway to the latter place. It also recommended
the discontinuance of the second class carriages, and a
reduction of the shilling- fares to ninepence, and the
eightpenny fares to sixpence ; and, in conclusion, it re-
commended a dividend of four shillings a share.
Mr. WILLIAMS, a shareholder, wished to call the at-
tention of the meeting to a circumstance personally af-
fecting himself. He was a holder of 160 shares, and at
their last general half-yearly meeting, a resolution passed
consenting to an issue of 30,000 new shares, which were
to be divided amongst the Proprietors, each person hav-
ing the option of taking as many new shares as he held
old ones ; only 23,000,were issued to the Proprietors, and
the residue of them were given to strangers. On his
applying to Mr. Ackerman, the Secretary, he was told
by that gentleman he could not have them, though they
were then undisposed of in the office ; but he knew Mr.
Ackerman to be a false man.—(Loud cries of " Order,
order," and chair.)
Mr. WHEELER said there was• the greatest difficulty
in getting rid of the shares owing to the unsettled state
of the money market, and had it not been for Mr. Acker •
man the shares never would have been got rid of, and it
was not until application had been made to the share-
holders they were given to strangers.—(Hear, hear.)
Mr. ACKLIR3iIAN said that a most serious charge had
been brought against him, and from the manner it was
clone he threw it back with indignation and contempt—
(Hear, hear)—and if the meeting did not require it he
would not condescend to reply to. it.—(Cries of " Oh,
yes, yes.") In doing so he would not detain them many
minutes. He had been their tried servant since the
formation of the Company, and he felt honoured by their
confil,:lice.—(Hear, hear.) He trusted that they would
believe hial,wheu hey-sail...that ha. wolild not +-
the shuts they were not oasposect 01 until ne- manz-n, ottf
by letter and personally, application to every Share-
holder, and he was glad to get rid of them to a stranger
hear)—whom he met by accident ; he there-
fore indignantly repelled the charge which had been
brought against him.—(Cheers.)
Mr. WILSON said that lie was sure that Mr. Williams;
laboured under some misapprehension, for if he had ap-
plied in time he would have had them, and he understood
that it was not until two days after the bargain had been
made with the gentleman who took such a large num-
ber of them that Mr. Williams had applied.—(Bear.)
A SHAREHOLDER— Oh, Mr. Williams did not apply for
his 160 shares until they were *per cent. premium, and
he is only vexed that he could not got them on that ac-
count.—(Laughter.)
Mr. BOSANQUET bore testimony to the efficiency, zeal,
and diligence with which Mr. Ackerman discharged the
duties of his office.
A long desultory conversation took place as to the re-
duction of the fares, from a shilling to ninepence and
sixpence, and the second class carriages.
Mr. DEPUTY CoRNEY said that there might be a great
increase of traffic anticipated if the Government carried
into offect the proposed measure, a Bill for which was
brought in by Alderman Wood, as regarded steam-boats,
which was to limit the number of passengers to the ton-
nage, and prevent large steamers coming up higher than
Greenwich. The Croydon Railroad Company com-
plained greatly of the 3d. toll charged them ; but lie
hoped, when the Croydon and Brighton Companies
would be managed by one Board of Directors, by which
there would be a saving of iO,OOO/. a-year, they could,
conjointly, afford to pay 4d., which would give a good
dividend to the Shareholders.—(Hear hear.)
A SHAREHOLDER said he understood that the Com-
pany Were again before Parliament, and he begged to
know for what ?
The CHAIRMAN replied, that under the opinion of
their legal adviser, they only went- to 'Parliament as a
precautionary measure ; they were under very heavy pe-
nalties to have the works completed at a certain period,
and they In ! ple,:pd their contractors, who were both
solvent and efficient, under the same penalties, and, he
had no doubt but the works would be finished at the
time specified—(Hear, hear)—but under all the circum-
stances
it was thought more advisable that they should
take protection through Parliament.
A resolution having been passed adopting the Report,
and declaring a dividend of four shillings a share, and
thanks given to the Directors, the meeting separated.