The Sun.
London, England, 1848-05-27 00:00:00

CHELTENHAM.

Mr. Sergeant KINGLAKE and Mr. .LearEs having been
heard in reply to the defence of the recognizances,
The Committee cleared the room, and after a short deli-
beration, they decided that the recognizances were doubtful;
but they determined to give the petitioners leave to amend.
The recognizances having been accordingly amended,
some formal evidence was put, and the Committee ad-
journed.

LONDON, BRIGHTON, and SOUTH

COAST RAILWAY.

day at the London Tavern, Mr. G. Al. Parsons in the chair,
A special general meeting of this company was held
for the purpose of requesting the sanction of the proprietors
yester-
to two Bills now beiore Parliament, for making an alter-
ation in the New Cross station, and for enabling the com-
pany to subscribe a portion of its capital to the extent
of 75,0001., and the other for the purpose of enabling the
company to make arrangements with the Direct London and
Portsmouth Railway Company.
Peel's
There The was a most numerous attendance of shareholders.
no fewer than 22 CIRN said since the last meeting the Bills had
the unanimous approbation
iordiet.gone considerable alterations. When they were before
Committee
steamboat thr
de otherof the day,cona thmietytewe,erane odpßhp.elet
hedomplEt
Com-
mons that evening, and he trusted that they
companies, but the
they would pass the third
present. The Chairman then wentt i
reading in the House of Com-
the proprietors the great value.' wonutoldabewtooutlhde
unanimous approbation of a ' •
majority of the proprietors then
statementrme e
to olivvsesehtohtowe
have steamers of their own plying between this country and
France.
The draft of the first Bill was then read to the
meeting,
aid its adoption moved and seconded, upon which
Mr. WISHAW moved, that all that portion:of the preamble
of the Bill which related to the construction of steamboats
by the company should ibe expunged. He said the com-
mittee of shareholders which had been appointed to inquire
into the affairs of the company, and of which he was a
member, had, after ample deliberation, come to,the conclusion
that the connexion of steam-beats with the company would in
no way be a profitable transaction, and he trasted that the
proprietors would show by their votes that they were
determined not to sanction any outlay upon such a specula-
tion. It was now full time for them to put a stop to the
extravagant system of expenditure which the directors had
proceeded upon, and which had so sadly reduced their divi.
dends.—( Hear, hear.)
Mr. Alderman WiLsoN seconded the motion, observing
that when he became a shareholder in the company he had
not the slightest idea of its being engaged in a steam-boat
speculation. If the extravagant and wasteful system of ex-
penditure was allowed to go on without some check on the
part of the proprietors, he could assure them that they would
soon have no dividend at all.—(Cheers.)
Mr. Davis also supported the tnction. He wished to
know why they had not been called together before the Bill
was introduced into Parliament, and wny the directors had
incurred the law and other necessary expenses in proceeding
with the Bill, before it had received the sanction of the
shareholders ?—(Cheers.) Within the last five years
the enormous sum of 215,0001. 1.4 1,40. spout by the
company in law expenses, and now the directors were tin.
necessarily adding to that sum.—(Cheers.) They had acted
moat unfairly towards the proprietors in calling them toga.,
ther at the eleventh hour to consider the Bill, when it was
too late for those who dissented from it to take any effective
steps to oppose it in the House of Commons. By doing so
they had effectually shut out the opposition of the proprietors
in that quarter, but he hoped they would carry their opposi-
tion to the House of Lords.—(Cheers.) A petition was lay-
ing for signature at his office in:Frederick's-place, Old Jewry,
which he intended to present to the House of Lords, and not-
withstanding the underhand manner in which they had
been prevented going to the House of Commons, hestill hoped
they would be able to prevent the serious outlay of 75,0001.
in a scheme which he was sure would turn out to be a great
loss to them, and ultimately, he hoped, they would, by dif-
ferent management, bring the affairs of the company into
such a state, that the proprietors might stand a better chance
of getting a good dividend.—(Cheers.) They ought all to
oppose the proposed steam-boat project, and also the ar-
rangement with the Direct London and Portsmouth Com-
pany.— (Hear.)
Several other proprietors then addressed the meeting, the
majority of whom denounced the proposed steam• boat pro-
ject amidst much noise and interruption, and ultimately the
uproar, accompanied by calls of " Divide," became so great
that many who attempted to speak were obliged to
desist, and

The Cilenutgle then rose and replied to the various state-
ments of the speakers, amidst much impatience, and con-
cluded by putting the motion and the amendment.
...

For the motion of Mr. Wishaw, which was put first, an
immense number of hands were held up. The original
motion had not more than a dozen supporters in the body
of the meeting.
A poll was then demanded, and two scrutineers having
been appointed on each side, the ballot was immediately
proceeded with, which was likely to occupy several hours.
The state of the poll will be announced at the meeting
to-day.

COWES, ISLE OF WIGHT.
(FROM OUR OWN CORRESPONDENT.)
COWES, MIT 26, 1848.
ROYAL YACHT SQUADRON INTELLIGENCE.
ARRIVALS.
May 22.—Gondola Cutter, W. 11. Wodehouse, Esq.,
from Channel Islands.
May 23.—Nymph Cutter, Sir John Bayley, Bart.,
from Portsmouth.
May 25.—Bacchante Cutter, B. 11. Jones, Esq., from.
Liverpool.
May 26.—Iris Cutter, Lord Rodney, from South-
ampton.