The Sun.
London, England, 1841-11-20 00:00:00

generally, in superintending the affairs of the Company.
(Signed) " THOMAS WILSON, Chairman."
The next notice was in 1833, just after the decision of
Lord Lyndhurst became known. A Committee, com-
posed of Samuel Iloare, J. P. Wilson, John Morrice,
Robert Barnett, Francis Ricardo, Charles Parr Burney,
S. Marjoribanks, R. Small, Charles Gibbcs, and W. T.
Hibbert:—L

Resolved, " That this Committee cannot conclude their
lab Ours without expressing their high sense of obligation
to Mr. Palmer for the very important services he has
rendered to the Company in a season of despondency
and gloom, when loss and disappointment awaited them
at every turn, and when the question of immediate dis-
solution was proposed. • As the only means of averting
utter ruin, Mr. Palmer was induced to assume the ma-
nagement, and by character, talent, and assistance, on
frequent occasions of extreme emergency, was enabled to
change the aspect of affairs, and to restore confidence to
the dispirited Proprietary.
" The Committee gladly avail themselves of the pre-
sent opportunity of recording these services, and of re-
commending to the Proprietors that a piece of plate
worthy of his acceptance should be presented to Mr.
Palmer, at any time they should think most opportune,
in testimony of the high respect in which his character
is held, and as an expression of their acknowledgments to
him for all the important benefits he has conferred.
(Signed) " S. MARJORI 3ANKS,
" In the absence of the Chairman of the Committee."
_

In consequence of that resolution, a member of the
Committee had waited upon Mr. Palmer, who had re-
fused to accept the plate.—(Loud cheers.) Now, he
would ask any honourable man, was it not monstrous
that the Committee of the United Shareholders should
dare to pat forth such a slanderous falsehood ? He
was merely anxious to show how little reliance could be
placed on the statement of that gentleman, and he hoped
it would show the Shareholders the absurdity of follow-
ing such a leader blindfold any longer.
Mr. SHEARS would only occupy their time fora few
minutes. The great object of the present meeting
to take into consideration the dissolution of the Com-
pany. It was not the first time such a motion had
been submitted to them, nor would it be the last, because
if carried, it must be submitted to another meeting for
confirmation. There had he believed been enough of
discussion to show in what party the Proprietors ought to
repose confidence. So far as he could ascertain, he believed
there was no difference of opinion as to the propriety of
taking steps to wind up the affairs of the Company. The
mode in which that should be carried into effect
was the point upon which the difference of opinion
existed. If they adopted the resolution which had been
put forward in the requisition for the immediate dissolu-
tion of the Company, let them consider what a ruinous
position they placed themselves in. It would debar the
Proprietors from all power of protecting the interests of
the Shareholders. The other resolution, which had
now been moved as an amendment, was to the same
effect, but would not leave the property of the Com-
pany without protection. It appeared to him that it
would be madness (if he might use such a term)
in the Proprietary to support such a resolution as that
which would go to the immediate dissolution of the Com-
pany, and for that reason he should feel bound to hold
up his hand in favour of the amendment.

"Major RICHARDSON said the discussion of that ques-
tion had not yet come before the meeting, but he would
now answer for himself. He was aware of the great
advantage it would give the gentlemen to whom he was
opposed, and conscientiously opposed, if they were
enabled to knock down the leader.—(Hear, hear.) That
individual, however, was powerless in himself, and
it was only the large number of highly respectable
Shareholders by whom he was supported that
gave him strength. He was rejoiced at the
attack that had been so publicly made upon
him, because it affbrded him an opportunity of de-
nouncing all that had been uttered against him as base
and infamous falsehood. He had had nothing to do
with the Poyais scheme—it was set on foot by General
M`Gregor and others • when he became a shareholder
he knew nothing of die circumstances, but the moment
he did he called a public meeting, and exposed the whole
fraud.—(Hear, hear.) For that he had been voted
thanks, and now, after 17 or 18 years, no aspersions that
might be cast upon him as regarded that question
could hurt him.—(Hear, hear.) He knew well that
if they could escape accounting for themselves the
Directors would be very glad to attack him, but he
was ready to meet them. (One of the Directors
here laughed.) He could assure that gentleman
that he would make him laugh with the wrong side of
his mouth.—(Laughter.) The statement that he had
bought his shares for half a crown each was false, and
an infamous lie, and he would refer in corroboration of
that statement, to the books of one of the most respect-
able stock-brokers in the City. So far from that being
the case, he had lost 150/. by his shares, and it was
false to say that he came there with the object of gaining
one penny. He would ask the Hon. Gentleman who
had spoken of Poyais, whether he had heard anything
of Spanish and Greek loans, and who were the con-
tractors and concoctors of those schemes ? With regard to
the piece of plate which had been alluded to, he took it
for granted that it had been presented to Mr. Palmer
when he saw it entered on the books, and he was glad
the statement had been made, as it aftbrded Mr. Palmer
an opportunity of denying it.—(Cries of "Shame.")
Mr. BARNARD'Said it was a proposal to the Proprie-
tors to give a piece of plate to Mr. Palmer.
Major RICHARDSON hoped he would be allowed to make
a few more observations. The question before them
was, whether the account and Report which had been
read to the meeting should be printed and circulated
among the Proprietors, in order that they might under-
stand how they should vote. To that an amendment
had been moved by Mr. Ricardo. The object of the
meeting was to consider whether the Proprietors
under all circumstances were in a position to
dissolve the Company immediately or not. All that
he (Major Richardson) wanted was to have passed some
resolution which would fix a time for the liabilities of
the Proprietors to be paid. That could be done as easily
now as twelve months hence. As regarded the law of
the question, a great deal had been said bearing upon
the actions brought against the Shareholders. He
(Major R.) had said so twelve months ago, and he now
repeated it, that no action could be sustained against a
Shareholder for the payment of the calls made on him
by the Company, until an account was taken of the debts
and liabilities of the Company.
The SOLICITOR of the Company here observed that
that was not the law as regarded this Company. .
Major RICHARDSON said he would prove it to be so,
and he would tell the Proprietors, who so wished, not to
be afraid to vote on the present occasion. Those who
had not paid the last calls Were fully entitled to vote,
and he called on those who did not wish to be harrassed
by law-suits to vote for his resolution.
The CHAIRMAN said that, as a ballot had been de-
manded on the question, he would state the original re-
solution and amendment to it. He then read them to the
meeting, and :said that, conformably with the 10th clause
of the Company's deed, he would fix a day for taking
the ballot, and that day should be Thursday; the 25th
inst., between the hours of twelve and three o'clock, at
the Company's office.
Major RICHARDSON then called the .attention of time
meeting to the fact of actions at law having been
brought against some Shareholders for refusing to pay
the late cals made on them, and to the grounds of de-
fence which the parties sued had adopted, and referred
to the conduct of Mr. Hooper, who, to avoid being
harrassed by law proceedings paid the calls made on him,
but paid them under a protest, which he would be glad
to hear read.

The CHAIRMAN could not admit of the paper, which
the Hon. Proprietor adverted to, being read.
Major RICHARDSON then read the resolution which
he meant to propose. It was to the effect, that in or-
der to save the finances of the Company, no action or
suit at law should be entered into by the Company till
the actions now pending between certain Shareholders
and the Directors had been decided.
Mr. W3I. JONES seconded the resolution.

The CHAIRMAN having put the question,
Mr. TAYLOR said, that the resolution now proposed
seemed to him ncthing but a demand on the part of cer-
tain persons owing money to the Company that the Com-
pany should not sue them for it.
Major RICHARDSON was astonished that a person of
such acuteness as the Hon. Proprietor, who had just sat
down, should attach such a meaning to the words of the
resolution.

After a few words from Mr. GREEN,
The CHAIRMAN said, that since the resolution had
been read, a ballot had been demanded on it ; and he,
therefore, according to the clause of the Company's deed
before mentioned, appointed the same• place and time
which he had fixed for the ballot on the former resola-
tion—namely, Thursday the 25th inst., at the Company's
offices, between the hours of twelve and three o'clock.
Major RICHARDSON--As the Ballot had been demanded
he trusted that every Shareholder would go forward and
offer his vote, whether he had paid his calls or not, let
them try the question and let it be set at rest. He
would now move that all calls made over 501. per share
are illegal, and that no more be made.
The CHAIRMAN—That cannot be put, no notice having
been given.
Major llrminnsoN would then move that the calls
paid by certain shareholders over 50/. having been paid
in ignorance, should be repaid.—(Cries of" Oh, oh.")
The CHAIRMAN hoped that some end would be put to
such scenes ; they were disgraceful, and were destroying
the character and trade of the Company.
Mr. TAnpit—lf the actions against the recusant
Shareholders should be settled in their favour, as a
matter of course those who have overpaid will be repaid.
Mr. H. PALMER said there was a great mistake on
that point in the minds of many. It was a mistake to
suppose that every Shareholder was not liable for all
the debts of the Company. If the funds should run
short the whole of the Shareholders must contribute.
Mr. JACKSON bad a resolution to propose, but before
doing sb he begged to ask Mr. Palmer whether Messrs.
Freshfield were not his private solicitors ?—(Cries of
Don't answer.") Well, he would propose a resolution
—" That it is the opinion of the meeting that the ap-
pointment of Messrs. Freshfield was an improper one,
inasmuch as they were the private solicitors of Mr. H.
Palmer, against whom the Court might think it neces-
sary to take legal proceedings.
Major RICHARDSON seconded the resolution. He was
glad he had amused the Chairman, but he thought he
should amuse him more when he got him into the office