The Sun.
London, England, 1848-09-15 00:00:00

this subject. It would be in the recollection of i"
shareholders that two offers had already been made fro"
the same quarter. The first offer, which was brought
before the shareholders in a fair and open waY, wao
unanimously refused. The other offer, made three or
four days afterwards, was one which the directors thought
it necessary to call the shareholders together for their
opinion on ; and of course refused. Had the directoro
foreseen then what bad„ taken place since in railiesi
matters, that t ffer would not have been rn'
jected ; but people were sometimes penny will
and pounds foolish.—(A laugh.) All he would oil
was, that the directors would not lose any opportunii/
to encourage any lease of the line either by Mr. Hud-
son or any other party, so as it would secure an advan-
tageous return for the capital of the company.—(Hear'
hear.) With these remarks he would conclude by ronr:
ing the adoption of the report; in agreeing to whir'
motion the shareholders would pledge themselves to 110-
thing but a general approval, as he intended subse-
quently to propose a series of resolutions relative to the
special matters contained in the report.
Mr. M'INTYRE complained of the manner in which
the accounts were made up. He urged the suspension
of the North Berwick branch; intimated his determion.
tion to protest against going to Parliament for the Pla
posed branch to Leith, and concluded by saying that'
from a careful inspection of the account; he had none
to the opinion that they were not in circumstances t°
pay a dividend. He would, therefore, move as on
amendment, that no dividend be declared till next half'
year.
As no person was found to second Mr. APlntyre'e
amendment, it fell to the ground.
Mr. WiLsosf, Hawick, said, as he understood, there
was a probability of some offer being wade cn the
part of the York, Newceetle, and Berwick Company, be
thought they should hear what it was before they Pre
seeded further.

The CHAIRMAN said be would state, as distinctly
he could, what had taken place. At half-past eleve°
that forenoon, half an hour before the meeting alio°.
bled, several gentlemen waited on the board of dirge'
tors, stating that they represented an influential body e'
English proprietors, and mentioning that they were
anxious that au arrangement should take place, the ob-
ject of which should be to get the line leased or sold to
Mr. Hudson. They mentioned that it was their
tion, at this meeting, to move that a committee of I"
e
shareholders, conjoined with a committee of the direr'
tors, should be appointed for the purpose of Wirt':
clueing this matter to Mr. Hudson. The &rooter-
and these gentlemen parted, as he thought, on a
very trifling matter. As he understood it to be oolf
due to a body of gentlemen who had so long take°
charge of the affairs of the company, and had re!:
their responsibility for such large sums of money, that
they should be trusted in a matter of this kind,
he stated
to the deputation that the directors could not agre°
to have a committee of proprietors conjoined with them'
The directors, however, pledged themselves to apeola
forthwith a committee of their own number, to open
a communication with Mr. Hudson or any other gentle:,
man. The deputation, in reply to this, said that
„,111,e,a1
would nominate the committee from the board. "-I°`"
also he could not consent to, and ho hoped that they
would not disturb the unanimity by making sloY suce
proposal. He could assure them that nothing would gil_
him and his colleagues greater satisfaction than to enter
into such an arragement, either with Mr. Hudson or orlf
other party, as would be for the advantage of the North
British shareholders.
Mr. WILSON, of Hawick, here rose, and at greaV
length reviewed the affairs of the company. If, said uei
they looked to the line when completed, what did. itshowb
It showed that, supposing the branches to Tranent, Nat
Berwick, Jedburgh, and Selkirk completed; and NIP;
posing that they yielded a revenue equal to the prese,a,
line, they would only have five per cent. to give to 1.
holders of debentures, while they would have bout abo°l
hell
24 per cent, to divide among the shareholders, lie t
referred to a conversation whch he had had. with •E' afir'
Hudson, in the course of which that gentleman had 1°:
dicat, d an opinion that he would give the shareholder,
of the North British one Turk and Newcastle share
two North British shares.—(A laugh.) He (Mr. Wilsel/)
expected that they would laugh at that annorthe*Eoe°;
but it was only fair to come to the point, aid tberel,.°',t:
t
he would ask them would they take that?--(Cries
No, no.")
Mr. ALLEIEWSON asked if Mr. Wilson was authorise('
to make that offer?
Id
t Mr. WILSON said no; but that Mr. Hudson had
.°
him that he bad gone over the figures of the lines,
that this was the result to which he had ceeae^
Voice—" Mr. Hudson could only be joking.") lie 11-.,
0
not joking. A man never joked when he talked °n
business matters. Mr. Hudson was an honest and as
honourable man. In the course of the conversaition r,
Hudson went into this calculation. My line, w hen the
bridges are open and all paid for, will come sosnewni
about 24,000/. a mile; and I am taking at preset It ~,L72,„
5,3001. per week of traffic. The North British 1111rf
will cost nearly 30,0001. per mile, while you ;are °if
taking about 3,000/. per week. If these cakes 'ions du,
Mr. Hudson were correct, and Helm,' allowance was 01%
for working expenses, they would see that Mr. 0
had actually made them an offer a great deal beeper toe-
their present position showed.
Mr. WATSON, of Glasgow, said he never heard a 1331
dolorous speech, and that it was more like a char
out of the " Lamentations of Jeremiah" than al lythinci
else: He did not believe that there was any good ground
for drawing such a picture of the undertaking.
The CHAIRMAN said he had never seen such a ttesePt:
to sacrifice the property of the company as hi id been
made in that room.—(Hear.)
Mr. GILL. w, Liverpool, thought that Mr. Wit son bid
given anything but a correct representation of tt .e pros"
pects of the company. He held, however, ths bt even
with the prospect of a 24 per cent dividend, as .00'
Wilson had said, it would not be shown to be a 1 isci hv
vestment; for, taking into account the great incr.! sse i
traffic that might be expected to take place wh sO the
through communication was completed, and boil, en 01
affairs of the country were in a better condition,, be boo
good grounds for hoping that there would be avast 115
cession to the revenue. He argued the neces sitY ,
economy, and recommended that an inquiry sh°°
take place into the salaries of the officers of thr ,
pany. He said that it was out of the question ito g"
1,0001. a year to the secretary, and 1,2001. to t-.13e
gineer. lie also complained of the salaries paid to orb
officials, after which he went on to argue that they didl,
not require to be at the mercy of Mr. Hudson, ine,saloc_,
as he was convinced that by entering into an RITA lir
ment with the Edinburgh and Glasgow and the Cl",
ledonian Companies, they would be able to main tai;
their position, and to realise a good dividend. Mr. IN'Ait
son's anxiety to get possession of the line showed thst;
was not such a bad concern. He then urged the ne ce'
city of Scotch railway companies protecting themse 1/p,
against the practice which obtained of periwig who
it. 4
-
;
able. to pay for first and second-class accommode
travelling in third-class carriages. This, he said, tile'
might do, by running fewer trains with third-ela-
,
carriages.

After a good deal of further discussion, the Chairm. sllf
I motion was agreed to, in so far as it went to approin 3 •
that part of the report which recommended that a a l/411,
dend of 12s. 6d. per share should be paid on the ,1"
original shares, and 2s. 6d. on the 51. shares.
It was also agreed, on the motion of Mr. ANDES. 014
that the directors should be instructed to appoint a c. 1131„'
mittee. to negotiate with the York, Newcastle, and B
wick Company for a lease, or amalgamation with t P
North British, and that the consideration of the repo tt
should be adjourned till Wednesday, the lath Octobe
when the result of the negotiation, and the document
referred to in it, should be laid before the company
and that the further business of this meeting be ad
journed till that day.
The meeting then adjourned till the 18th of October

RAILWAY SHARE MARKETS•
BRISTOL, SErr. 14.
STOCK EXCHANGE. —The Shari Market remains ver) r,
flat. The sales are--Great Western, Quarter Shares, 43 I
dis.—Midland, 86.

LIVERPOOL, Sttrr. 14.
STOCK EXCIIANGEL—The market for shares is w.rs
again to-day, and prices are lower. The sales are—Birket.
bead, Lancashire, and Cheshire Junction, 811. Share
9% c. dis.—Caledonian, 20 —Ditto, Preference, c
—Great Western, Quarters, 5 dis.—Lanca.shire wait Yark
shire (late Manchester and Leeds), Fifths, 8.91 dia.—DittL
321. Shares (late Extensi,n), 103% dis.—London and No4l'
Western, 1101/4 c.—Ditto, New Quarters, les. 9d. di te""
Midland Stock, 83% c.—Ditte, New Halves, 10% c.
Shropshire Union, 3/. is. 3d.—South-Eastern and Dov• et.
No. 4, Thirds, 6:t —York, Newcastle, and Berwick (G. 1 I
E. Purchase),

MANCHESTER, Sm'''. 14.
STOCK EXCHANGE. —The sales are—East Lancashire,
Preference, NI p.—Edinburgh and Glasgow, Halves, 454
dis.--Leeds, Preference, 1-16 p.—Sheffield, Old, 4k—Ditto,
Eighths, 714 dis.—South-Eastern and Dover, Na. 4,
North Staffordshire, 5 dis.— Caledonian, Preference, IA
dis.—Leeds, Firths, 31, dis.—Sheffield, Preference, 9 13-16.
London and North-Western. 110.

BIRMINGHAM, Szrr. 14.
STOCK EXCHANGE.— The market was again flat. The Baled
are—. North Staffordshire, 54 dis.—Shrewsbury and Bir- '
mringham (B), $65. 3d. dia.—South Staffordshire, 91s. 3d.dis. •
YORK, Sur. 13.
STOCK Excuexasc.—The business transacted to-day wai
as, follows: Great Northern, 65,i—Nurth British, Thirds
1/. IBs. 6d.—York, Newcastle, and Berwick (G. x. E. put,
chase), 7% n.—York and North Midland, ss.

MIRTH&
On the 11th inst., at Purbrook-lodge, Hants, the ladY 41.
Stephen Winkworth, Esq., of a son.
On the 12th inst., at Regent's-park-terrace, the wifg
of
James Richardson, Esq., of a son.
On the 12th inst., at Down Aaspney-house, Glouces
ter-
shire, the wife of Captain C. Talbot, E.N., of twin daught
On the 13th inst., Mrs. R. Hunter, of Brunswick-squ. tr"'
of a daughter.
On the 13th inst., at Great George-street, Westminstt Mrs. Lefroy, of a son.

.M.LARD.
On the 12th inst., at St. JamEC
es's Church, Piccadilly, the
Rev. Charles Abbot Stevens, M.A., of Trinity College, Cam-
bridge, to Hannah Isaacson, elder daughter of the late Capt-
Andrew King, R.N., and niece of Vice-Admiral Sir Edward
D. King, K.C.H.

DIED.
On the 10th inst., at Albion-place, Reading, Berko, aged-
* Charlotte Elizabeth Wightman, relict of the late Vice-
Admiral Sir Thomas Dundas, K.C.B.
On the 11th inst., at Kirk Ella-house, Yorkshire, J. $
Egginton, Esq., aged 50.
On the 11th inst., aged 84, Jane, wife of Thomas Miles
Esq., of Ston-Easton, Somerset.
On the 11th inst., at Aveley, Essex, T. Fisher, Esq., Of
Westcott, near Dorking, Surrey, aged 35.
On the 12th inst., at Regent's-park-tern, ce, the wife of./
Richardson, Esq.
On the 12th inst., Sarah, the wife of E. Huddleston, EBcl'
of Sawston-hall, Cambridgeshire, aged 67.

London: Printed and Published by MIIRDO YOUld Of jr
No. 112, Strand, Printer, at The Sun Office, No. 11'
Strand, is the Precinct of the Savoy, in the ewer
Atiddlesex, Friday, Moptenaber 15, 1848.