The Sun.
London, England, 1847-06-19 00:00:00

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QUEEN'S BENCH.-(THIS DAY.)

COBBETT V. HUDSON.
The plaintiff in this case is the son of the celebratt
William Cobbett, and the defendant is the keeper of the
Queen's Bench Prison, in which the plaintiff has been
confined ever since 1842. The action was brought to
recover damages for an alleged false return made by the
defendant to a writ of habeas corpus, requiring the de-
fendant to bring up the body of Mr. Cobbett at the
Court at Westminster, for the purpose of showing upon
what grounds he was detained in custody.
After hearing counsel on either side at souse length,
Lord DENMAN was of opinion that a false return had
not been proved, and that as there was no case made out
fl
et the jury, a nonsuit ought to be entered.—Nonsuit
entered accordingly.
Mr. Knowles, Q.C., appeared for the plaintiff, and
Mr. Watson, Q.C., for the defendant. Mr. Cobbett (the
Plaintiff) was present during the trial of the case.

CRARING-CROSS BRIDGE COM-
PANY.—(THIS DAY.)
A special general meeting of the shareholders of this
Strand, at one o'clock this day, Mr. Hawes in the chair,
for the purpose of formally rescinding the contract en-
tered into some time ago, for the sale of the bridge to Mr.
'Jackson, Sir Joshua Walmsley, and Mr. Fuller, and for
assenting to the creation of new shares, for the purpose
°E. defraying the liabilities of the undertaking.
After the advertisement had been read,
The CHAIRMAN proceeded to explain the nature of the
meeting to the shareholders. He said the actual expen
'dilute•
; up to January in the present year amounted to
126,4851., for which 8,0001. had to be deducted for rent
received from the wharf, making the total cost 118,4851.;
It had been estimated to cost 106,0001., but, as they
Were already aware, there had been an excess over that
estimate of 12,4851., which he thus accounted for—
alteration of piers and foundations, 3,0001.; new works
P.% in the estimate, including toll-houses, gates, light-
tin:, 2,000 L; float, 1,500/.; law expenses, 1,5001.,
eluding the cost of obtaining their three Acts of Par-
tat tent. There was a debt of 1,000/. due to
• Hungerford Market Company for damages,
Which
had been referred to arbitration, and
Which would be settled as soon as possible. Then
there was 4,0001. of interest owing to the bankers and
°tilers, making, as he had said, a deficiency of 12,4851.,
nt• in round numbers, 13,0001. They had already raised
altogether,
up to the present time, 120,000/., their capital
having been originally fixed upon as 106,000/. In order
t 0 meet the liabilities it would be necessary to raise new
capital to the amount of 19,450/., or, in round numbers,
20,000/. The following were the liabilities:--Messrs.
Jackson
and others, 9,000/. ; the bankers, 3,5001. ;
Works, 1,9501. ; her Majesty's Commissioners, law
expenses, obtaining Acts of Parliament, and claims
`.°oo/., due upon the toll account 3,000/., making alto-
tether 19,4501. Out of these items the following might
selected as absolutely pressing for payment :-9,0001.
1° Messrs. Jackson, out of the 10,0001. deposited, 1,0001.
eying been forfeited, and the bankers 3,5001. All
14,aiese must be placed on a proper footing for payment.
"„ac directors proposed to provide for the payment of
these liabilities under third clause of their Act, and to
181SUe 3,200 quarter-shares of 61.55. each, these shares
to he first offered to the shareholders ; but they did not
Zusider it advisable that they should constitute any per-
t." of the permanent capital of the company. The
MC of the bridge would in the course of the next year
ett two be so much increased by the opening of
1,,.°"' South-Eastern, South-Western, and the Great
syestern, and Birmingham lines, in the immediate
vicinitya the bridge, that he confidently anti-
cipated that the directors would be enabled
to Pay off 10,0001. or 12,0001. without any difficulty
Weatever. They therfore preferred rather to raise
money
by means of new shares than in the shape of a
loan. or of making the amount proposed to be raised
4,Portion of the fixed capital of the company. He con-
cluded by calling upon the clerk (Mr. Lawrence) to
read the report.
Mr. LAWRENCE then read the report, which was as
. knows
4 Your directors called this special general meeting of
Shareholders to submit for their approval the arrange-
-I,l,!!)nts they have acceded io with Messrs. Jackson, Reed,
Pralmsley, and Fuller, for the settlement of their con-
tractT for the purchase of the bridge; and also to submit
plan by which they propose to raise the capital re-
r:ired to repay to those gentlemen 9,0001., part of the
f.OOO/. deposited by them, as well as to provide
the s
for the liquidation of the outstanding debts of
I°_e company on the capital account, which have hitherto
en provided for by temporary loans from the bankers.
Your directors are anxious to accomplish this with-
tlt increasing the fixed capital of the company, and
therefore, although they feel obliged, in fulfilment of the
Spirit of the provisions of the company's Act of Parlia-
_
meat, 6th Victoria, chap. 19, sec. 5, to offer the new
Shares they propose to create to the proprietors, they
'Leant it right to state, it will, in their opinion, be more
advantageous to the company that the shares should not,
„,it can be avoided, become part of the permanent capi-
tal of the company, but be used as a security for the
~temporary advance of capital, which your directors feel
_e_l7 confident the company will be able to repay as soon
:4 the Great Railway station, now in progress, and close
to the southern terminus of the bridge, is completed.
this Your directors think it right to state distinctly that
I°l capital is not required to pay for any unforseen and
_cexuased expenditure, but simply to place the finances
TZit the company on a more satisfactory footing, and has
en forced upon them at this time by the necessity of
',,Olupleting the proposed arrangements with Messrs.
uackson and others.
‘‘
To accomplish these objects in the manner best cal-
'Wilted to promote the-permanent interest of the com-
pany, the necessary resolutions, as well as the proposed
agreement to carry them into effect, will be submitted to
the meeting."
in reply to several parties,
The CHAIRMAN said that the present traffic, in round
cambers, yielded a revenue of 7,0001. a year. The share-
holders might take the new shares ; but in the event of
eir not doing so, they must of necessity take them into
Jackson
market. One-fourth of the money due to Mr.
rksort had to be paid in a fortnight, but the payment
° the remainder would depend upon subsequent arrange-
ments ; it would be advisable, however, to pay the
Mount without delay, in order to avoid the payment of
interest.
,The first resolution, annulling the agreement with
""1:1 Jackson, was then read,
„ The CHAIRMAN, in reply to a question, stated that
ifte Bill for the sale of the bridge was now before Par-
:;.111, eat. They had been unable to obtain a com-
c:deemittee,'4-
, a sufficient number of members not hay-
g attended on the two occasions in which it was
not
to form a quorum. They thought they could
14 carry it with the opposition which had been arrayed
against it, yet it had not been withdrawn. Their legal
"'risers were of opinion that the transfer of the bridge
could not be considered a public act, in the words of the
preamble
if it had to encounter the opposition menaced;
nd though it had been read a second time it was still
before Parliament.
_ Captain KELLY was surprised that any one could
call a private contract a public benefit.
The CHAIRMAN said Lord Shaftesbury refused to pass
H without these words. The 10,000/. received had been
thus expended :-5,000/, to the Exchequer Commis-
sioners, and the remainder had been carried into the
general account. Thus they had saved the payment
upon the 5,0001. paid to the Commissioners. It was
°Pen to the shareholders to make the new shares a por-
tion of the capital at a future period—they could not
raise more by debentures than they had raised.
Mr. FEW considered that it would not be well to pay
off the new shares at a future period out of the tolls, and
that the option of taking the shares at par at a future
Period should be offered to the shareholders.
, The CHAIRMAN considered the suggestion a good one,
out he was so confident of the great increase of the
traffic, that no difficulty would be found in paying off the
amount he had stated without interfering materially
With the revenue from the tolls.
The
tend report was then received and ordered to be en-
-- on the minutes.
1, Mr. ORD censured the conduct of the directors, and
,:ulamed them for not having acted in the same conci-
'lrY and upright way in which Mr. Jackson had
acts; if they had done so a great portion of the law
expenses which had been incurred would have been
nated.—(Hear.)
Mr. COPE proposed an amendment to the following
effect—That it was expedient to postpone the rescind-
ing of the agreement until the financial affairs of the
company had been investigated; and for the purpose of
effecting this be proposed that a committee of seven share-
holders should be elected, three to form a quorum, who,
With the aid of an accountant, should make this inves-
tigation, and that the meeting should adjourn until the
12th of July.
Mr. LLOYD seconded the motion.
STUTELEY, the chairman of the Market Com-
PITY, considered that, as the nature of the accounts had
taken the meeting by surprise, they ought to adjourn.
• Tho liabilities must be paid, but the great considera-
va°o was how they were to be paid; he considered,
luerefore that they should not hastily come to a deter-
mination.
temperate
a prolonged discussion, not remarkable for the
~'`lrePerate manner in which it was conducted, a ballot
s"iok place, when the numbers were—for the motion 73
tca and one proxy, against it 31 votes and 132 proxies,
making a majority of 89 against the original
Th'on. The seventy proxies belonged to the Market
Company, and were received under a protest, subject to
the Opinion of' counsel ; Mr. Stuteley also delivered, in a
protest against this proceeding on the part of the di-
rueters.
The second resolution was then proposed, authorising
the directors to raise 20,000/.
f The amendment of Mr. COPE, which bad been de-
-"led until this motion, was then proposed.
Considerable discussion ensued.
The CHAIRMAN emphatically declared that the whole
the opposition arose from the animus which the Hun-
gceford Market Company entertained against them.
Mr. STUTELEY—I deny that.
The CHAIRMAN called upon Mr. Stuteley to define
the grounds of his opposition for as yet: no specific
charges had been made against the directors.
Mr. STUTELEY said the accounts had not been drawn
properly up, as the accounts of all public bodies were
prospect
sip; that they had a heavy debt with but little
r`°sPect of paying it, and besides their profits had been
materially reduced.
The CHAIRMAN briefly replied. He was quite
Justified in the expression he had used, as they found
the Chairman of the Market Company and their clerk
°PPosing every step they proposed, and altogether their
°lPc'eition was most unjust and uncalled-for. The books
0
the company were open, by law, to every shareholder