The Sun.
London, England, 1846-09-07 00:00:00

VIM & ,•••••ailiagnOwrann,
LEICESTER AND BEDFORD
RAILWAY.
A meeting of the shareholders in this Railway Com-
pany was advertised to take place on Saturday, at the•
London Tavern, at one, for the purpose of determining
whether the Company should be dissolved or not. At
the hour appointed for the meeting to take place there
were a great number of shareholders present.
Robert Linsdell, Esq., was unanimously called to the
chair, and after the necessary forms had been gone
through, and Mr. Hawkins, Mr. Lowry, and Mr. Old-
acre had been appointed scrutineers,
The CHAIRMAN stated that, in consequence of the
indisposition of their Chairman, the duty was imposed
upon him of reporting to the meeting the proceedings
that had taken place since the last meeting, and also the
present position of the Company. After having passed
through the severest ordeal, and obtained the unanimous
decision of a Committee of the House of Commons in
their favour, they had been defeated in a quarter where
they had the least reason to expect it—(Hear, hear)—
and under circumstances upon which he would not
dwell. Their failure had not been occasioned by
any want of attention on the part of the
directors, or of skill in their professional
agents, but it was to be attributed to the peculiar and
unfavourable constitution of the tribunal by which their
cause had been defeated. The question now was,
whether they should prosecute their scheme or dissolve
the Company?—(Cries of " No, no.") lie would ask
whether, bearing in mind the proceedings that had taken
place, five gentlemen of the House of Commons were
not as likely to come to a right conclusion on a ques-
tion of commercial enterprise as a similar number
of Peers of the realm ?—(Hear, hear.) It should
also be remembered, that whilst the decision
of the House of Commons in their favour was
unanimous, the decision against them was carried only
by one, and that individual happened to be the bosom
friend of their successful competitor.—(Hear, hear.) He
thought it would be necessary to dissolve the present
Company, in order to reconstruct it upon more favour-
able terms. Notwithstanding the arduous contest in
which they had been engaged in Parliament, their ex•
penses would not exceed 16s. per share; consequently
they would be able to return to the proprietors 6s. per
share. A proposition bad been made to them by the
London and York Company, if they would join
with them, to find half the capital to carry
out the scheme, and also to pay half the
expenses. They proposed to allow the funds
of the united companies to be credited to half the ex-
penses. This would render it necessary to reduce the
shares of the present scheme from 201. to 101., and a call
of Cs. per share in addition to the 6s. proposed to be re-
turned would make the value of the new shares 20s.
The worthy chairman concluded by proposing, " That
the present Company should be dissolved, for the pur-
pose of being reconstructed upon the terms proposed."
Mr. ASTELL, the Chairman of the London and York
Company, seconded the motion.
Mr. FRANKLIN then addressed the meeting, and read
letter he had addressed to Mr. Hudson, the Chairman
of the South Midland, suggesting to him the propriety
of endeavouring to come to some terms with the Leices-
ter and Bedford Railway Company, to which Mr.
Hudson had replied, that if the meeting thought proper
to appoint a deputation to meet him upon the subject, he
would endeavour to make an arrangement if possible.
Now, what benefit did the proposition of the directors
hold out to the meeting ? Why, that their property
would be made worth 20s. He had no doubt, if
they came to an arrangement with Mr. Hudson
and the Midland Railway, their property would be worth
305., instead of 20s. Ile trusted, under these circum-
stances, that the meeting would be adjourned for a week,
and that a deputation would be appointed to meet Mr.
Hudson.—(hear, hear.) The Hon. Gentleman con-
cluded by moving, as an amendment, that the meeting
should adjourn for a week.
Some considerable discussion took place upon this,
which ended in the amendment being withdrawn, and
the original motion for the dissolution of the Company
was declared to be carried unanimously, that dissolution
mot to be considered an act of bankruptcy.
It was also agreed that Mr. Richardson, Mr. Corrie,
and Mr. Franklin should, together with the directors,
form a deputation to wait upon Mr. Hudson.
The meeting then broke up.

RAILWAY SH-ARE MARKETS.

MANCRESTEU, SEPTEMBER 4,

STOCK EXCIIANGE.—The sales are—Ambergate, Nottingham, and
Boston, % dis.—lllackburn, Darwen, and Bolton, 3-16 dis.—Boston,
Stamford, and Birmingham, 9-16 dis.—Churnet and Blythe, % dis.
—Dublin and Belfast Junction, 634 dis.—Eastern Counties, York
Extension, 1 13-16 p.—East Lancashire (late Blackburn and Preston),
9% p.—lluddersfleld and Manchester Railway and Canal, 2% p.
Ditto Extension, 11-16 p.—Kendal and Windermere, 3a dis.—Lanca-
shire and North Yorkshire, 11-16 dis.—Leeds and Thirsk, 3% dis.—
Liverpool and Bury, 8 p.—Liverpool, Ormskirk, and Preston, 4%
p.—Oldham, Birkenhead, &c., 3-16 dis.—Preston• and Wyre, Halves
(B), p.—Shrewsbury and Birmingham, 5-16 p.—Shropshire Union
&c., 3-Id dis.—South-Eastern and Dover, Halves, No. 4, 13-16 p.—
Treut Valley Midlands, &c., 13-16 p.—West Lancashire Coast, %.