The Sun.
London, England, 1846-03-11 00:00:00

ItIRKENHE AD, LANCASHIRE, AND
'to Tip „,_ JUNCTION RAILWAY.
87,,TIARLHOLDERS IN THE BIRKENHEAD, I.ANCA-
''u}-4 AND CHESHIRE JUNCTION R.AILWAN .
LIVERPOOL, FEB. 24, 1846.
As a shareholder in this undertaking, I make no
41114,,,.`'"1ng Your attention to the following facts, wh.ich
If e, Lre Your serious consideration. By the engineer's estimate
y 44Dense Of constructing the above railway, and the printed
Lce etTiir Parliamentary Contract. deposited in the Private Bill
'443,000/ e Rouse of Comihons,' it appears that the estimate is
''vrect b Old the following gentlemen aro recognisea awl ap-
kiik t y the subscribers as the provisiono directors : —namely,
bit44l,eaneY, the younger, of Belgrave-square, in the county of
4„,_kerea' I:sq.,' William Potter, John Laird, Marcus Freeman
and William Laird, all of ' Birkenhead ; Augustu
4. s, Bad-
Lot "illiara 13allemy, both of Liverpool William Wanklyn
- .arufiner, both of Manchester; and Cephas Howard, of
11147t*
Ulieti I are various other hints, connected with this matter to
Yss '143. call Your attention on a future occasion. At present I
wOur dire ~artline the following
'Liam pe've.rrs• John Laird, Williain Laird, WillianiWanklyn, and
..MR4lt executed the deed at the dates and for the sums
44 •
Laird on 28th July last for • • • • • • • • • • £81,300
eu 4th November last for • • 5,000

86,300
Laird on 28th July last for •••• .. • • 75,000 •
on 25th September last for.. 3,850
on 22d October last for • • • • • - 50
^l3ldm 78,900
" analYn on 29th July last f0r.... 10,500
on Bth August last for .. 51,150
on 18th October last for.. 5,000
66,650
'''rOtter on 11th August last for.. • • 79,950
79,950
)1111,uhs 311,800,
•(,,,"'„°f Three Hundred and Eleven Thousand Eight Hundred
01410'41,1er:01v more than one-fifth of the estimate for the
743*. a Pretty fair stake for four individuals to have in this
1r a-3' relatives of these gentlemen, not of the same surname
kr), Mary
the —acgregor, spinster, Birnhead"), there maybe
CNN, teener:ll subscribers, Ido not know; but the following
zkrte'to,rsat all events, are some of the nearest relatives of three of
roll° ,Ithove-iimed, and they appear to have executed the
iegre`'s
Or Laird on 25th July last for •• • £11.700
on 26th July last for ••••• • • • • • 37,500
• . , on 12th August last for ••.• • 3,000
on 14th Nov. last for •• .• ..... • 150
Ikeiry 52,350
Ritchie Laird on 26th July last for • • 9,450
9,450
jullss
---,Wanklyn on 29th July last for 30,000
-- 30,000
." trso
for • Wanklyn on 30th July last
55,650
• • •
on 30th September last for •• • 1,850
57,500
Iraullyn en Gth August last for.. •• 19,750
18.780

1,,.
lirt; °tite nerds Total.. • • .........• 168,050
four of our directors, and five of the nearest regt-
N of them, have apparently subscribed to this undertaking
k,ilrhyt,o"le hundred and seventy-nine thousand, eight handred
444, or nearly 40,0001. more than one-third of the esti-
-4,444tu0f the entire line
tiy:4lo,ar unt represents nine thousand five hundred and ninety-
Se the:, for all of which, I presume, scrip would be delivered at
10Z,144,1,.deed was signed.
ti,,rd,
01..4 of the above, you will find large suns amounting to
lltske,„. 4,00,0001 subscribed for. by about twenty-five parties,
411414, (.Judging from their deScription and address appended to
tht,,7141,ri) have no peculiar claim, either from local connexion as
friers, or the traffic they may be expected to bring upon
qtt hot "ataye but little knowledge of these parties, and there-
,
re,, Present partcularlse them.
gut 'zat, theeto the share lists you will find that on the 26th of
IC•se scrip in this line commanded a premium in the market
lkii.6l 'el. share. On the 2d of August
.last, the premium was
5i,,•,11),er share.
1k tit th e lowest quotation up to the end of September last. Be.
..ese
,er, , 4 es, namely, the 2LI of August ht.st and the end of
V;.5 fir, 'ast, the avertge,premium was slightly above 101. pep
4li,oenti other words, would have realised on these shares a profit
141,,114r-i: at least.
tw:,seeli the foregoing facts with great alarm. Our Bill will
rr er;l'strious opposition before Parliament. I believe- it would
fri.`,Lnie all ordinary opposition on its own merits, but I cannot
hittrkYla,.,7 aVself the fact, that when it is found that such an un-
k nl4 Proportion of our capital is subscribed for by so few
it
1,0„0,. may be urged by our opponents that the undertaking
b„nginated and constructed, not for the advantage of the
kittoitt,,' for the private interest of those few parties. I feel this
4.3
t441,4.',,,ti1at I think an early meeting of our shareholders should
into4lol meeting the directors should be requested to attend,
such exp lanations with respect to the above and other
itinaY satisfy, among others,your very obedient servant,
4.SROTHEIt SHAREHOLDER IN THIS RAILWAY.

BIRKENHEADpiI,„ , LANCASHIRE, and
iqCi(ltiertt..SlllßE JUNCTION RAILWAY COMPANY.
lid el' IR t;711,--Ail anonymous circular, signed a " Brother Share.
tiotV. Railway" (a title, 'no doubt it,suirn d by one to whom
1 tail 'long), baying been sent to the shareholders in this line
14i $ containinz insinuations implicating the honour and good
44Ctesi ill provisional directors towards the prorrietary, I am in-
leki board to express their readiness, upon proper occa-
le titz„.°Rl the proprietors all reasonable information, but at the
t:). Protest against the principle of their being called upon
ptveru con
oatlY anonymous statements. In the present instance,
ieY sider it would be satisfactory to the proprietors, as
Mme their -
et, own feelings, that a short statement of the real facts
Bro, should be made known ; and I hae, therefore, to inform
s,)l,4letors that, out of the 50,000 shares forming the capital of
30,000 shares_ were appropriated, in a fixed proportion,
scrs of stock in the original Birkenhead, Manchester, and
unction Railway ComPany ; 10,400 shares have since been
el, out °i the
to the Cheater and Birkenhead and other companies
the balance of 9,600 shares, 4,414 have been allotted to
4ti'1221„?! the provisional committee, landowners, and others-1n
ktl3. "'lviduals; but in no case have more than 100 shares been
(;e4ZT indirectly allotted to any one, whether director or not.—l
eraen, your obedient servant,
.0 E. P. CRARLEWOOD, Secretary.
shareholders of the Birkenhead and Cheshire Junction Bail-
, jou_ way Company,
27120 n-street, Westminster,
February, 1846.

111Rt2.,T0 THE SHAREHOLDERS INTER.
-'4NREAD, • LANCASHIRE, AND
CHESHIRE JUNCTION RAILWAY.
04,
,".114,e,„.., LIVERPOOL, MARCH 2, 1846,
Shari,".,--I have this morning received a circular from Mt. ',E.
and
4, °°,l, our Secretary, dated 27th of February last, purport-
+ rep
10,,„_'s tem .Y to mine of the 24th.
to,,u „el islet asive and =satisfactory ; it merely informs me that
14cts of 50,000 shares in this railway were appropriated to
0 certain other Stock and shares " out of the balance of
ektsklitges' 4,414 have been allotted to members of the provisional
!Ave • landowners, and others, in all 122 individuals ; bat in no
111 ore than 100 shares been, directly or indirectly, allotted
itstl+ieg „se, hether directors or not."
+..' call your attention especially to the statement that 30,000
hplveere appropriated in a fixed proportion t?
shire of
COpklll. original Birkenhead, Manchester, and Ch Junction
Ca_ 40, . There could be no stock in this Company, as they
D. • obtained their Act, but I presume Mr. Chariewood means
krttt4 °II this point I would observe, that many, if not all, of the
klehll,l4 the present Line were Directors of the Birkenhead,
le',Nl ":"r• and Cheshire Junction Company, and, of course, had
ki,in'll that originally alotted to themit appeared a
Pit t t.g, aPeculation, theyl no doubt purchased more scrip in the
(
oat it would have been more satisfactory to me if Mr.
ghathelained—
number of shares in the original Line were in the
r!.l instance allotted to the Directors named in my circular ?
what number of these shares they had purchased in the
adlllkit ?
,I.;CYhat number of. shares were held in reserve in the original
and whether any, and what numher, of these reserved
~,,,,ros were appropriated by our Directors previous to the
gproPriation to them (as holders of stock in the Birkenhead
.s.allehester and Cheshire Junction Railway) of shares in the
‘)•4141', assent Line?.
ISpitlllaY- be the distinction in Mr. Charlewood's mind between
orl7, tlOll and allotment I leave him to explain, if he think
Zcitleb.ll I do not ace how this is any reply to my circular, and my
tk:Thitt-,egations remain unanswered, namely :
4thof lour of our Directors, and five of the nearest relatives of
fft,.tllclo, have executed the subscription contract, at various
e"' the sum of 479,8501. (see List No. I) ; and that various
,41,4-17,!5. amounting
tw to upwards of 400,0001., are, in addition, sub-
T I,Y about enty-five parties, who appear to have no pe-
t, 2(4,`“t0• either from local connexion or from the traftic they may
tted
!lAN to bring upon the line. That, at the time these
4vtr were subscribed for the shares commandd in the market
out.4llc Premium of 101. per share. That these facts might
i•te, oPponents the opportunity
,onf urging that the undertaking'
'lotiginated and conducted ot for the advantage of the
4411 4411 for the private interest of comparatively a few Wi-
~ly is h!
certainly apparently the case, and I feel that it will seri-
1111viimi,,,age our uu4ertakiug before Parliament.
t t trouble you further at present, dxcept to call your atten-
,llc additional subscriptions to the Parliamentary contract, as
41 List No 2.
And remain, Gentlemen, your obedient servant,
A BROTHER SHAREHOLDER.
4
0414 LIST No. 1.
Laird on 28th July last for ...... • ....... £81,300
on 4th Nov. last for •• • .

86,300
1111/14,11 Laird on 28th Jiny last for . ..... 75,000
on 25th Sept. last for• • ........ • • 3,850
on 22d Oct. last for.. • ••••.. •. • •.

Irlin a
------ 78,900
n, Wanklyn on 29th July last for .... • • 10,500
on Sth Aug. last f0r.... s. 61050
on 18th Oct. last for ••• • • 5,000

------ 66,650
/l'illia,
--. Potter on 11th Aug. last for .... ••• • .. 79,950
----- 79,950

1-'4 311,800
Vesor Laird on 25th July last for • £11,700
on 26th July last for .. •••• • • • • 37,500
on 12tk Aug. last for • • •• • • 3,000
on 14th Nov. last for .. ••• • • % 150

tr Ritchie Laird on 24th July lastior.. •• • •
-- 9,450
-"64 Ilibbert Wanklyn on 29r1 July last for • • 30,000
41rwilhavy Wanklyn, on 30th July last for • -
on 30th Sept. last for..

52,350
9,450

30,000
55,650
1,85 Q