The Sun.
London, England, 1846-03-02 00:00:00

GREAT NORTH AND SOUTH
WALES AND WORCESTER RAILWAY.
A special general meeting of the scripholders in the Great
North and South Wales and Worcester Railway, eonvened
by a committee of their own body, appointed at a former
meeting, was held on Saturday, at the London Tavern, in
-Bishopsgatesstreet;tbr:the-pnerruerruflaestrrbg the dissolu-
tion of the Company.—Mr. Frederick Lawrence, Chaiiman
of the Committee, in the chair..
The Own:ease in opening the: business of the meeting,
retniutled the ecripholders that at their former meeting they
pvtated resohelaons authorising the immediate dissolution of
the Company, anti it was then thought that the directors
wereiroaralle to stela a step. Accordingly, the committee
soug an interview with the directors, to see if the affairs
of the Company could not.be wound up and settled amica-
bly; but a third party interposed , his authority,
and the - negotiations for, this . purpose proved
futile, surd ended in nothing positively being arranged. The
directors and shareholders were unammons in thinking that
it would be bets er for all parties that the Company should be
broken up; but the solicitor of: the Company, Mr. Bushe; ap-
peared to be decidedly, opposed to the adoption of any such a
course, arid in.eletiance of the wishes of both the shareholders
and the directors he , had gone to the expense of bringing
up to town a large number of witnesses, getting the
Bill througlv:the Standing. Orders' Committee, and then hav-
ing it read a first time in the House of Commons. Ile was
now taking the usual steps to have the Bill read a second
time and 'eemmitted ; and unless the shareholders invested
their committee with stringent powers, to enable them to
close the affairs of the Company, every farthing of
their money would be squandered away, while, in the
end, the Bill' would be lost. The directors passed a.
resolution authorising the solicitors to svipply the com-
mittee of shareholders with a • copy of the subscription
and epntract deeds, but he regretted to say that that resolu-
tion had been dishonourably suppressed by some one or
other, and the solicitors refused • now to give them cdpies of
the deeds. Under these circumstatices, and feeling that the
measure could never pass upon its merits, the committee had
called the scripholders' together to invest them with
stringent powers to stop any further "Mee of the remainder
y.
of the funds of the Company—(ear, hear.)
Mr. thereat-et HoPaooD proposed •the first resolution.
He stated that it would be in the recollection of the share•
holders present that a resolution was passed at their last
meeting, that a petition, signed by the shareholders, should
be presented to the House of Commons against e Bill.
lie believed that if the shareholders allowed the Bill to pass
the second reading they would then be called upon to pay
up the further call on their shares, and in default of so doing
their shares would be forfeited: He therefbre proposed that
the petition prepared by the committee should be imme-
diately signed by the shareholders, for presentation to the
House of Commons.
Mr. SAMUEL seconded the resolution.
Mr. MULLENS wished to say a few words before the Chair-
man put the resolution. He was allowed to move, as an
amendmetl4 that the petition should be read to the Company
• before the shareholders were called upon to sign the petition.
liSassas said that the petition would lie for signature at
the lsondon Tavern, and every person who signed the petition
would,bave an opportunity of reading it. '
Mr. Murwrs said,that the committee were afraid to have
the petition publicly read. ,
It was ultimately, agreed to put the question to the meet-
ing whether the tpetition should be read, when only five
hands were held up in favour of the petition•being read.
The CHAIRMAN then put the original resolution, which was
carried by a great majority.
Mr. Darts stated that the committee had-already incurred
great expense, and it .could not be expected that they would
continue to do so unless reimbursed by the shareholders.
He therefore proposed " That a subscription be at once en-
tered into and, placed at the, disposal of your committee, to
enable them to stop this ruinous scheme in •Parliament, or
by such other means that they may deem advisable, and to
reimburse them such expenses as are already incurred."
Mr. BATES seconded the resolution, which was carried
unanimously..
A SHAREHOLDER suggested that the money should be
paid nut of thk funds of the Company. •
Mr. BACON (Chairman of the Company) said that the
directors were placed in a very, peculiar situation, and he
doubted whether the shareholders would bear the directors
harmless if they did so.
Mr. Davrs. rose to order.
Major Rseresunsox considered that Mr. Bacon sfould be-
fore this have . dismissed the solicitors from -the service of
the Company, and that the only means of testing his sin-
esrity would be to move a resolution to that effect this after-
noon.--(Lod cheers.), He did not consider it right that
;stoney of the shareholders should be wasted because the
directors were
sso prudent.—(Loud cheers.) He proposed
" That the directors give a cheque for 500/. to the come-
=Wee of the shareholders, in order to carry out the objects
pf the resolutions carried *is day."
Mr. MuacEison seconded the resolution.
The CHAsassasi said that it was useless to pass a resolution
to that effect, unless the directors present would consent to
honour the cheque.. . • .
Mr. BACON said that he could not promise, as there were
only two of.his colleagues present, the payment of so large a
BUM. - • •
. The CHAMMAN stated that he would meet them half way
—they would take the sum of 2.50/.,
Major RICHARDSON having acceded to this reduction , the
resolution was then put and carried unanimously.
Mr. CoIIRTRNAY then rose for the purpose of moving the
third resolution. He stated • that the • present Company
was entirely the solicitors company. r(" No," from Mr. Bush).-
after considerable confusion Mr. Courtenar,went on to say
that the solicitors had laughed at them in their sleeves, and
had set the shareholders at defiance.—(Cheers.) He then
proceeded to inquire into the conduct of the -solicitors, and
having made a number of • Charges against them,
'ltch produced considerable confusion in conses
quence of the denials of the solicitors on the one
hand, and the repetition of the charges •on the other, he
moved thatthe solicitors, Messrs. Bushe and Mullens, having
by their conduct completely lost the confidence of the
shareholders, the directors be requested immediately to dis-
miss them from the services of the Company.
Mr. Mr:Benison' seconded the resolution.
Mr Buns said he could not sit quiet and hear charges brought
against his personal charegter, and that of his respected partner
He publicly denied the truth of the charges which had been
brought against him. He had given his advice to the best
of his ability in the affairs of the Company. Mr. Bushe was
xeeding, amidst much confusion, to explain his conduct
relative to the Company, when
The CHAIRMAN proposed, as a matter of delicacy, previous
to putting the resolution, that Mr. Bushe should have an
Opportunity afforded him of resigning. •
Mr. Brisit stated that no earthly power should induce
him to resign until he had received the opinions of the
Solicitor-General and Mr. Turner, of the Court of Chancery.
After most tremendous uproar,
Mr. Weems was allowed to be heard. He also denied the
truth of of the charges which had been brought againsthim-
self and his partner (Mr. Bushe), which gave rise to a most
desultory and stormy discussion as to the question of dismissal.
He stated that both he and his partner were in the power of
the directors, but they had never made any complaint to
them, and were perfectly satisfied with their conduct.'
The CHAIRMAN stated that, before putting the resolution, he
thought it would be necessary, in artier that this resolution
should be effectually carried out, that the directors should be-
held personally liable for all money paid to the solicitors by
them from the time of passing this resolution; Ili then put,
the resolution, which was carried unanimously, and the
solicitors were accordingly dismissed from the service of thl
Company. • •
Majoldtrensansme wished to know whether it was the
intention of the directors to carry- out this resolution ?
Mr.' RAISON, one of the directors, 'said he could not under-
take to answer the question in the' absence of his brother
directors.
Major Bleu...Epsom was then requested by the shareholders
to join the oomniittee, to which he cdtrsented.
. A. vote of thanks having been passed to the Chairman and
the committee, the meeting broke up, which was one of the
most stormy that ive- have ever attended, even of the North
and South Wales Railway Company.
The.petition lie for signature at the Hall of Com-
merce, en Threadneedle-Street. '

RAILWAY RET UItNS.
RAILWAY Isarric.—The following are the Total Receipts of Rail-
ways for the pest week—that is to say, up to, the date to which the
respective iiiurns are made, together with, the receipts of the same
week in the:previous year:—
•

last
Nveek,

!peek'
ending

OAt •
Q : .
I ro- 7.
tp-,......
.'.) .o

Feb. 21

5149
778

• 4;G%