The Sun.
London, England, 1848-09-02 00:00:00

EAST LOTHIAN CENTRAL.

The half-yearly general meeting of this railway waa
held at Edinburgh on WednQsday; Mr. 11. M. Davidson
in tho chair.

When the proposal was made to attach the seal of the
company to the register,
Mr. Y. DREW, of Glasgow, entered his dissent, as he
had done at the last meeting, in consequence of the scrip-
holders not being recognised.

„ -
After the seal was attached the report of the directors
was read by the secretary. It stated that the company '
were precluded from taking any steps for the execution
of their works till the 20th of December next, in cense-
quecce of having come under the Chancellor of tho Ex-
chequer's Act, and the lino was, therefore, in the same
state that it was at the last meeting. The directors
had, however, since that period, been engaged with
legal proceedings, in consequence of the protect which
was lodged by Mr. Drew at the last meeting against
the completion and authentication of the register in
terms of the statute,' by including in the register the
names of the original ullottees of the scrip which had
not been sent in for registration ; and also in con-
sequence of a note of:a suspension and interdict, which
had been presented by a shareholder for the purpose of
having the directors debarred from issuing to any third
party the sealed certificates for the stock represented by
the stock which he held. The opinion of the loord Ad-
vocate had been obtained ,on the point which was raised
by Mr. Drew, and ho approved of the course which had
been adopted by the directors; and in reference to the
other point raised, on the 15th of last month the Lord
Advocate had pronounced a judgment, the effect of
which was to fix the liability of shareholders upon the
original allottees in respect of those shares for which
scrip was not sent in for registration, and as a neces-
sary consequence to authorise the issue of the corre-
sponding sealed certificates. This decision, however,
had been declaimed against; and although the directors
felt assured that it would be confirmed by the Inner
House, they were reluctantly compelled to suspend
the issue of the sealed certificates to shareholders who
were not in possession of the scrip until the decision
of the Court of Session was obtained. The sealed
hthoeldedrisrewethoorshinadtdbuelymesaenuttimineseri
certificates had therefore only been issued to share-
p were foprrreergairsetdr a ttioo nr
(2; c buteg .
Mae the parties whose names appeared on the register
as the real shareholders of the company in all other re-
spects. The report then stated that the application to
the Commissioners of Railways for the further exten-
sion for two years of the time for the completion of the
works had been complied with. In conclusion, the di-
rectors suggested in the present depressed state of trade,
and in the present difficulties of the money market, that
thethe considerationcompany s
ofh otuhledf übteurdeeplaoliecd till the next y of the proceedings
of
half-
yearly meeting in February.
In answer to a question from a Shareholder,
The CHAIRMAN stated that the total sum in the hands
of the company was 12,4821.
Mr. LYON, broker, moved the adoption of the report;
which was agreed to, Ile then moved, ” That Mr. James
Aitchison, of Alderston, be re-elected one of the di•
rectors; and that Mr. Thomas Toddrick, banker, IIad•
dington, be elected in the room of the director who had
retired."
Mr. DREW, Glasgow, moved, as an amerdment,
" That Mr. James Orr and Mr. Patrick Dugald, jun., be
appointed directors; Ile did so because these gentle-
men would do all they could, to prevent the commence-
went of the undertaking, which he was convinced would
never pay, being one of, the maddest projects that was
ever started in the midst of the railway mania.
Mr. PAEDURN differed from Mr. Drew. He considered
this line a first-rate one, and had every confidence in the
directors, who declared that it was riot to be pressed
iorward till the money market warranted it.
On a division there were 859 votes for Mr. Lyon's
motion, and 193 for the amendment; and the motion
666.
The meeting then separated.
was consequently declared carried by a majority
of

of this company was held
Thee
Wednesday,
LONDONDERRY AM) COL ERAINE.
on
si-d3;eya,ralyt thmecoetfilhci.ges, Church-passage, Guildhall,
Mr. J. G. Frith in the chair.
The report stated, that if the works for the reclama-
tion of the land be prosecuted on the plan proposed
by a contractor, the water may be shut off the
central inclosuro in eighteen months from the time
of the works being resumed, and at a cost of 70,000/.,
leaving the further outlay necessary for completing

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