The Sun.
London, England, 1856-02-15 00:00:00

JOINT-STOCK BANK.

This bill was read a third time and passed.
The house adjourned at half-past 12.

PARLIAMENTARY DIVISIONS.

HOUSE OF COMMONS.-FEB. 14.
JUDICIAL BENCH (IRELAND).

Motion made and questionproposid, " That there be laid
before this house a return of the dato of the call to the
bar of each of the Judges of the Superior Courts of Law
in Ireland ; the dates of their respective appointments
as Judges ; the number of times each has been absent
during the whole of any assize ;. or, if absent during a
part only, statinc, what part, and the reasons, if any,
given for such absence ; also, in how many, and in what
instances, substitutes have been appointed by the Crown
to preside at any assize, or portion thereof, in the ab-
sence of any such Judge, giving in each case the name of
the town." Sir John Shelley—Amendment proposed,
to leave out the words "in Ireland." Qaestion put—
" That the words proposed to be left out stand part of
the question." The house divided—Ayes 131, Noes 120.
AYES-131.
Acton, Joseph Foley, J. 11. Morris, D.
Ai'air, H. Forster, Charles Mulgrave, Karl of
A lc,lck, T. Forster, John Napier, Sir C.
Anderson, Sir J. Freestun, Colonel North, F.
Autrobus, E. Gardner, R. 'Oliveira, B.
Atherton, W. Gibson, M. Osborne, R.
Bagshaw, J. Gifford, Earl of Otway, A.
Baines, Rt. Hon. M. Glyn, G. Paget, Lord A.
Baring, Sir F. noderich, Viscount Palmerston, Viscount
Barnes, T. Gordon, A. Paxton, Sir J.
Baxter, W. Gower, F. Peel. F.
Berkeley, Sir G. Grace, 0. PalLstt, A.
Berkeley, G. Gregson, Samuel ' Perry, Sir E.
Bouverie, Hon. E. P. Grey, Rt. Hon. Sir G. Pilkington, J.
Brand, II B. W. Hadfield, George Price W.
Brocklehurst, J. Hall, Sir Benjamin Ricardo, S.
Brotherton, J. Ilinkey, T. Rice, E.
Brown, W. Hanmer, Sir John Itidit-y, George
Bruce, Lord E. Hastie. Alex. Robartes, T.
Bruce, H. A. Mastic, Archd. Roebuck, J. A.
Buckley, Gen. Hay ter, W. Russell. F. C.
Chambers, M. Heneage, Geo. F. Seholefleid, W.
Clay, Sir W., Bt. Herbert, S. - Scobell, Capt.
Clifford, Lt.-Col. li. M. Heyworth, L. Seymour, 11.
Clinton, Lord R. Biggins, G. 0. Smith, B.
Cobbett. J. 'Lindley, C.' - Steel, John
Cockburn, Sir A. J. E . Horsman, B. Thompson, G.
Collier, R. P. Howard, C. Mornay, T.
Cowper, W. Hughey, W. . Tue. W.
Craufurd, E. H. J. Ingham, B. Villiers, C.
Crook, J. Jackson, W., Vivian, H. H.
Crossley, F. Keating, It. . Warner, B.
Dent, J. . Ring, L. Watson, W.
Dill wyn, L. L. Klnitaird, A. Whatman, J.
Duff, G. Kirk, W. Whitbread, 8.
huff, J. Labouchere,Rt.Hon.li Wickham. 11.
Duke, Sir J. • Layard, A. H. Willcox, B.
Duncan, Viscount Lewis, Sir U.C.. Williams, W.
Duncan, George Lowe, It. Wilson, J.
Dundai, F. Lute, T. Wood, Sir C.
Dunlop, A. Mangles, R. Wortley, J. S.
Ellice, E. Massey, W. Wyvill, 91.
Ewart, W. Milligan, R.
Ewart, J. Milnes, R.
Fenw.ck, 11. Moffat, G.
Ferguson, J. Monck,
NOES-120.
Adderley, C. B. George, J.
Arhuthnott, Gen. H. Greaves,.E.
Baillie, H. Greenall, Gilbert
Baring, T. Greene, Capt. John
Barrington, Vist. Greene, Thomas
Barrow, W. Grogan. Edward
Bennet, Capt. P. Grosvenor, Earl
Bentinck. G. Guinness, R.' S.
Blandford, Marquis of Gwyn, Howe
Bond, J. Hamilton, G. A.
Booth, Sir Rt. Gore Harcourt, Col.
Bramley-Moore, J. Headlam. T.
Braatston, T. W. Henley, J.
Buck, G. Herbert, Sir T.
Butt, G. M. Ilolford, R. •
Ilyng, G. 11. C. liorsfall, T.
Cecil, Lord Hume, W. •
Child, Smith Johnstone, J.
Cholmondeley, Lord Jones, D.
Christy, Samuel Kerrison, Sir E.
Clinton, Lord C. King,_J.
Cole, H. A. Knatclibull, W.
Corry, H. T. L. Knox, Col. B. W.
Davies, D. Langton, li. G.
Davies, J. Lasletti W.
Davison, R. Lennox, Lord 11, G.
Deedes, William Liddell, H. G.
Hering', Sir E. Macartney, G.
Disraeli, B. MacEvoy, E.
Duncombe, Hon. A. MacGregor, James
Duncombo, 0. MacMahon, P.
Dunne, Colonel Maddock, Sir 11. ,
Egerton, Edw, C. NI agan, W.
Elliott, J. E. Maguire. J. F.
Emlyn, Viscount Matins, Richard
Evelyn, W. J. Manners, Lord G.
Ferguson, Sir R. Manners, Lord J. ,
Ferguson, Sir J. Meux, sir H.
Filiner, Sir E. Miles, W.
Eortescue, C. S. Michell, William
French, Fitzstephen Montgomery, Sir G.

TELLERS.
Shelley. Sir J.
Wilkinson, W.

Moore. G.
Morgan. 0.
Mowbray, J. R.
Mullings, J. R.
Murrough, J. P.
Naas, Lord
Nader, J.
Pskington, Sir J.
Palk, L.
Palmer. Robert
Peacocke, G.
Percy, J.
Repton, G.
Robertson, P.
Rolt, P.
Rust, James
Scott, F.
Seymer, H.
Shee, Serjt. W.
Sibthorp, Major
Smith, Abel
Spooner. R.
Stafford, A.
Stewart, Sir M.
Stuart, Captain
Sullivan, Michael
Thesiger, Sir. F.
Tollemache, J.
Tyler, Sir G.
Vance, John
Vansit tart, G.
Vernon, Capt. L.
Walcott, Admiral.
Warren, S.
Whitmore. H.
Willoughby, Sir H.
Wise, A.
Wpm, W.
TELLERS.
Kennedy, T.
Taylor, Colonel

Lord PALMERSTO-N—Sir, I must say, with regard to
the speech of the right hon, gentleman the member for the
University of Dublin (Mr. Napier), that in that speech
there was a great deal of very good indignation thrown
away. The right hon. gentleman undertook to defend the
character of Baron Pennefather, which stands above any
imputation, and upon which no imputation has in my
hearing ever been cast ; and it seemed 1.0 me that he rather
wished to draw the house away from that which was the
real question to be considered, and to convert the question
into a personal one, instead of leaving it one which I
think the House of Commons is periectly competent to
deal with. (Hear, hear.) The allegation made last ses-
sion was, that in consequence of infirmity many of the
Irish judges were unable to attend their circuits, and that
the result of this was, that charges were thrown on the
public for the supplying of their_ places as regarded the
performance of circuit duties. Well, now, I think that
is a matter which this house is entitled to inquire into.
(Hear, hear.) The house is entitled to inquire why ad-
ditional charges are thrown on the public in consequence
of the retention of judicial situations by men who, through
infirmity or any other cause, are unable to perform the
duties which belong to those situations. I think that,
without any infringement of the con stitutional principle
of the perfect independence of the j udeps, Parliament may
inquire whether or not there is any (*round for supposing
that such additional charges are thrown upon the public
by a failure on the part of the judges. I therefore think
my hon. friend the member for Westminster was perfectly
justified in giving the notice that he did at the end of,the
last session, that at the beginning of tliis session he would
bring forward the motion which is no w before the house.
(Hear, hoar.) Well, now, as my right hon. friend the
Secretary of State for the Home Department has stated,
he and I felt it our duty to inquire of the Lord Lieutenant
privately whether failures had occurred to such an extent
as would justify the interference of Parliament. Un-
doubtedly the answer which we received from my noble
friend was to the effiact that there had not been, in point
of fact, that degree of absence which soy hon. friend who
introdu'od tho subject last Year (Mr- Bruce) supposed.
That. there has boon some failure my noble friend the
Lord Lieutenant admitted ; but it has not gone to
the extent which my honourable friend, imagined. I sug-
gested to my noble friend that ,if failures did habitually
take place—l was not then aware that by law any addi-
tional charge falls, as a matter of course, on the consolida-
ted fund, imagining that there might be some discretion
with regard to payment—l suggested, I say, to my noble
friend, that if there were judges who, by retaining their
situations when age or infirmity disqualified them from
performing the duties which attached to them, threw on
the Government the charge of finding substitutes for them,
he should decline making any advances in cases of that
kind. I found, however, that there was no option, and that
by law any charge on that account was thrown on the
consolidated fiend. Now, sir, out of this question has arisen
the question, whether a judge who is afflicted with blind-
ness is or is not a proper person to continue in the perform-
ance of judicial functions? That question having been
mooted, I must say that my opinion upon it agrees entirely
with that of my right hon. friend the Attorney-General. I
would pat the case in this way--I would ask whether any
Government would appoint for the first time a person who
had been afflicted with the loss of sight to the situation of
a judge? (Hear.). Nobody would dream of doing so ; and if
that infirmity would disqualify a learned barrister from
being appointed a judge, I think the inference is that if
that infirmity attends a judge he is disqualified for per-
forming some of the duties of his office. (Hear.) It has been
said that the object of the Government in making these in-
guides was to drive an Irish judge from his situation for
the purpose of creating a vacancy. I utterly repudiate
that imputation. (Rear, hoar.) There has been no im-
putation thrown ou Baron Pennefather, but that is an im-
putation against her Majesty's Government, and I repel it
with the greatest indignation, and declare it to be utterly
without foundation. (Hear, hear.) Sir, the only motive
which we had in making these inquiries, was a regard for
the respect and consideration which was due to the
bench. That is the motive that induced us to make
those inquiries, and that is the motive which has in-
duced us to support the motion of my honourable friend
the member for Westminster. Sir, it is for my hon.
friend to consider whether, having regard to the turn of
the debate—(derisive laughter from the Opposition)—it is
expedient for him to press his motion. The foundation on
which this motion was brought forward was the supposi-
tion that great lathes existed—that there bad been a great
failure of duty on the part of members of the Irish bench..
I think the house must have been satisfied, by the fact,'
which have been stated this evening, that that auppositioal
is not well founded—(hear, hear)—that there has not be en
that failure of duty on the part of members of the Ifish
bench, whether from the infirmities of age or from other
causes, the supposition of which was the groundwoeie of
my hon. friend's motion. Undoubtedly, if the motion
goes to a division I shall feel it my duty, on constitutional
ground, to eupport it, because, as I have before stated, I
Ivaco
think the house has a right to inquire whether the judges
have performed the duties which have devolved upon them
in the manner in which theyought to leeperformed. (Hear.)
il
At the same time, I must say that, although this house
has no official or Parliamentary knowledge of what has Age st lb
been stated in the debate, yet, as it has been stated this
la
evening, on authority, which my hon. friend (Sir J. Shel- .
his supposition I
ley) will not be disposed to dispute, that Ja,c Leming
is not well founded—that being the case, I say, perhaps on Juif
the whole it would be more consistent with due respect to Gamekeeper 5 8 3
.k
those learned persons, whom the right hon. gentleman op-. Mary
posit© (Mr. Napier) has so eloquently defended, and snore
He had to complain of
agreeable as a matter of personal feeling, that the sum Oa (Palmerston i Vas, Winkle 47 10
should be withdrawn, than that it should be pressed to Black a 7 7
division. Jemmy the
.•. 5 7 7
Sir J. V. SHELLEY replied. ' St• Glare
4 7 10
having been misrepresented. The right hon, gentleman a 7 6
the member for the University of Dublin had accused him chard ............
t ace 3ptingibeing under Sat 71b, it
of calumniating the character of Baron Pennefather. So The highest weigh
far from that, he said everything that he could say to ex- has been raised to that weight, and the rest in proper-
press his s.thniratiou of the learned baron—a,adibg, how. •
ion,
Si; Rowlard Tree-

Main Question put :—The house divided. One of the
Tellers announced that Sir James Duke, Member for the
City of London, refused to vpte; whereupon Mr. Speaker
desired that he should come to the table. The honour-
able Member accordingly came to the table, and stated
Dithat he bad not hoard the auestion pat, having been in
the left division lobby at the time. The Speaker then
informed him that, not having been within the walls of
the house, and not having heard the question put, he
need not vote, but might wit hdraw ; and he withdrew
accordingly. Whereupon the tellers announced the
numbers—Ayes 132, Noes 121.

Sporting Intelligence.

TATTERSALL'S-THURSDAY.

The business of paying and receiving on the recent
events at Lincoln occupied the greater portion of the
afternoon. Towards the close speculation was resumed
on events to come, but the transactions were few, and
for the most part unimportant.
Yellow Jack strongly maintained Ha position at 3 to
1 for the Two Thousand. An attempt was made to
give Fly-by-Night "a lift," but aft sr 4 to 1 had been
taken about him, he dropped back to 9 to 5 ; it is, how-
ever, only right to state that these odds were taken to
upwards of 1001. 60 to 40 was booked about tke two.
For the Derby some hedging money, was laid against
the former at 14 to 1, but the odds currently offered did
not exceed 13 to 1. 9to 1 was taken to 501. about El-
lington, 1,500 to 100 about Rogerthorpe, and 300 to 100
about John Day's "lot." The quotations at the close
were as follows :

LIVERPOOL STEEPLECHASE.
10 to 1 agst Sir Peter Laurie (t)
25 to 1 agst Jemmy the Black (t)
25 to 1 agst Jean du Quesne (t)
GREAT METROPOLITAN STASES.
14 to 1 agst Pyrrha (taken)
GREAT NORTHERN HANDICAP.
7to 1 apt Fandango (taken)
TWO THOUSAND GUINEAS STAKES.
3 to 1 aget Yellow Jack (taken, 100 to 35 also
taken)
9 to 2 agst Fly-by-Night (taken)
6to 4 aget The two (taken)
CHESTER CUP.
12 to 1 agst Yellow Jack (taken)
1000 to 60 agst Yorkshire Grey (offered)
50 to 1 agst Stork (taken)
DERBY.
3to 1 agst Jolu. Day's lot (taken)
9to 1 agst Ellington (taken)
13 to 1 agst Yellow Jack (taken)
15 to 1 agst Ragerthorpe (taken)
By the authority of Admiral Rous, the following
notice was posted in the room :
" Monday, Feb. 18, at four o'clock.—Members of the
committee and the betting room at Newmarket are re-
quested to meet, to take into consideration what races
shall in future be considered play or pay."

NOTTINGHAM I
. ►cceptances for the Notti
One mile and a half. 32 I

EtACES, MAUCH 4.
,inghana Spring Efandicap.
subs, 13 of whom declared.
Age st lb
Fulbeck ..... ... 4 611
Staffordshire Nan 3 6 7
TVPT°sDybh° linlmeeePielGuarA Teßßh'cli Pbnilav koa
kiraau:cgirnba len:. es.
c.i01cb..k..y.. 3333333
6666555
1116581

RAILWAY INTELLIGENCE.

LONDON AND SOUTH-WESTERN.
[The following is a more enlarged report than we had space
for yesterday.] .

The half-yearly meeting of this company was held yester-
day at the Waterloo-station; Mr. J. W. Chaplin, M.P., in
the chair.

The report of the directors, an abstract of which has
already appeared, was taken as read. _

The CHAIRMAN, in moving the adoption of the report, called
attention to the increase of traffic on the line. During the past
half-year the gross receipts on the line had shown an increase
of 57,786/. over those of the corresponding period of 1854 ;
and the working expenses had only increased by 12,9731. The
working expenses for the half-year included a considerable out-
Lay on the permanent way on the Dorchester and Portsmouth
lines, amounting to 9,4261.; they had also provided two addi-
tional engines out of revenue, and there were two engines on the
stocks. For au additional charge of 12,9731. they had run 59,663
additional miles. They had also placed 5,00(3. to the reserve
fund, for the renewal of the steam-boats, instead of 2,5001.
as originally proposed. They did so because the latter was
the best half-year of the two. There was a sum of 106,0001.
expended on the line between Andover and Salisbury, which
was unproductive, and interest had been charged to revenue
on that amount. The practhi witty other companies was to
charge the interest during construction to capital. These and
other matters would show that their interests were properly
attended to. The North and South-Western Junction was the
only guarantee they had, and that would pay a dividend at the
rate of 54 per cent. per annum for the past half-year beyond
all liabilities from that company to contribute a certain
amount ; and at the same time ho had the gratification to
state that 62,0,14 tons of coals were conveyed to their station
at Brontford from the North and South-Western Junction
line. The coals were circulated over the South-Western sys-
tem as far as Dorchester, a distance of 140 miles from London,
and had of course increased the traffic. Among the resolu-
tions he had to submit there was one for voting two sums to
be carried from the suspense account to the capital account,
one amounting to 23,6921. for additional plant, and another
to 20,249/. for new works and sidings during the year 1855.
They had experienced considerable anxiety both on the part
of shareholders and directors to close the capital account.
In ISSO the company suffered considerable pressure from the
construction of various branches which had not come into
full operation, and a committee was appointed to ascertain
the condition of the company, the state of the plant, and
the sum requisite to make it efficient. They soon exhausted
their estimates, and they resorted to the expedient of pay-
ing for the plant out of the revenue. During four half-
years they had charged 25,0001. to revenue, but such was
the growth of their traffic and • the necessity for extended
sidin;s and additional • accommodation, that' they were
obliged to abandon the system pf paying everything
out of the revenue. They never had renewal funds
or depreciation funds, but adopted the honest course of keep.
tug up the stock in efficient order as they went along. A
question arose as to what was the proper proportion of work-
ing stock for a line, and after various inquiries it was ascer-
tained
that the nearest approximatioa to the anicenwt would '
bo the year's revenue ; that was, whatever .this` amount of
the gross revenue was for the year, that was about the sum
to expend on the working stock ; and to show that they had
not expended the full amount on their stock, he would read
a statement on the subject. In 1350 they had expended
541,3851. on their working stock, and the traffic receipts
amounted to 529,103/. ; in 1851 to 554,4561., and the traffic
to 656,420 ; in 1852, to 570,1601., and the trellis to 611,241/;
in 1853, 570,1601., and the traffic to 689,243 ; in 1854,
618,1921., and the traffic to 723,828/. ; and in 1855, the out-
lay on the working stock amounted to 662,9721., and the
traffic receipts to 817,7011. That would show they had
not expended the full amount required for their stock.
He had told the proprietors 12 months ago that they
could not charge anything to capital for additional sidings,
plant, and station accommodation, until they had first had
the vote of the proprietors. For the half-year ending last
July they had made no charge, but they now submitted the
outlay for their sanction. This was similar to the course re-
commended by. a very highly 'lntellectual committee of con-
sultation lately appointed by the proprietors of the London
and North-Western Company. Ile had ascertained that the
increase of traffic on the lino in consequence of the war was
very small. They had had about 12,0001. from warlike pas-
sengers, and about 8,0001. for other traffic to the camp at
Aldershott. The trade to Portsmouth and Southampton had
been injuriously affected by the war in consequence of the
Government requiring the mail steamers for transports.
At the same time the price of building and other materials
was increased, which checked building in the suburban dis-
tricts, and the traffic on 19 of the smaller stations on the
line had decreased. He believed, on the whole, that pc:: ce
would give them a larger traffic than they could attain during
war. Their dividend amounted to 5 per ceut: for the year,
leaving a balance over of 11,0001. He believed they were in
a better condition than any of the other metropolitan lines,
and all that was required to insure success was unanimity
among the shareholders and good conduct at their meetings,
avoiding dissensions and treating the board with respect.
Mr. EAGLEFIELD wished to know whether it was intended
to charge against revenue the interest on the 1,000,0001.
which Parliament had authorised them to raise for the Exeter
extension line ? As the chairman had take' credit for charg-
ing the interest on the 106,0001. to revenue, he wished to
know whether the sarhe course would be pursued with, regard
to the extension to Exeter
The Cuanyeax said it had been the practice of many rai:-
way companies to charge interest to capital during construc-
tion.

Mr. UZIELLI said of course the mode of charging the inte-
rest would be specified in the bill, and that would be deter-
mined by Parliament.
The Solicitor thought they had better not discuss that
matter at present.

Mr. HERAPATII thought the chairman had made a mistake
with respect t• the resolutions recommended by the London
and North-Western Committee of Consultation. What they
proposed was, that no expenditure of capital should be in-
curred, without first obtaining the consent of the share-
holders. (Hoar, hear.) In the South-Western Company, the
directors had expended the money without the permission of
the shareholders, then placed it to a suspense account, and
afterwards asked them to confirm the outlay. That was a very
different matter. The words were " that Ito addition what-
ever be made to the capital expenditure of the company,
without its being previously sanetioned by a vote of a general
meeting ;" so that they should not incur any expenditure
without having first obtained the sanction of a general
meeting.
The CHAIRMAN said they did the same thing ; they placed
the expense to a suspense account, and did not charge it to
capital without the consent of the shareholders.

TlF.aapArii did not take that view of it.
Mr. Wool) asked a number of questions with regard to
items in the accounts, which were explained by the auditors
and Mr. Uzielli. -
Mr. PUNCHIER thought it right to state that he had spent
several hours of the day before in examining the accounts of
the company, and he had never seen accounts so nicely pre-
pared, and ho had every reason to believe them accurate.
Their affairs were certainly in a sound and prosperous posi-
tion.

rity the company now possessed in dealing with their present
bankers.
A vote of thanks to the chairman concluded the proceed-
ings.

Mr. HELPS thought the agitation they had had was very
beneficial to the company. The dividends had increased every
half-year in consequence. (A Voice—" Yes, in spite of it.")
Ho had lately been looking over some evidence relating to the
Eastern Counties Company, in which it was stated that a coal
dealer had had exclusive rates on the South-Western line until
Mr. Mortimer came on the board, but that the dealer had
since done a large business at rates charged to other parties.
They were therefore very much obliged to Mr. Mortimer for
that large business at high rates. Ho complained of the
ealormous fees charged by Parliamentary agents, and for
short-hand notes that wore not required. As they had a bill
now before Parliament, he thought they should introduce
some clauses in it which should define the business to be done
at the special and half-yearly meetings of the company.
Mr. GASKILL suggested that 30 days' notice required to be
given by a candidate for a scat at the board be abolished. He
also adverted to the practice of giving free passes on the
line, which he believed was very injurious to their revenue.
There was an interchange of passes with the officers of other
companies, and he thought it would be a good thing to break
down the system altogether. He would call upon the secre-
tary for an explanation.
Mr. MORTIMER said it might be a very delicate matter to
meddle with the passes, for in developing the traffic at Soutl,.
ampton it was found necessary to afford facilities to certain
officials to carry on the business there, and he believed every
care was taken that none but the right party should have
them.
The SECRETARY explained that there were fewer passes
granted on their line than ou any other. Every pass was re-
turned to the Traffic Committee ; the reason for granting
them in every case was given ; and he might say the number
issued was considerably reduced since he came into office.
There were only five old directors who enjoyed a free pass,
and these were granted in consideration of long services.
With regard to the interchange of free passes with the di-
rectors of other companies, it was a question of policy, as it
enabled them to see how the traffic was carried on, and to
suggest improvements ; they were used but seldom. They
exchanged passes with the Brighton and South-Eastern Com-
panies, and with no other companies. The general passes de-
pended on matters of business for the mutual accommoda-
tion of companies ; for instance, their detective officers could
travel down to Edinburgh by means of passes over other
lines, and detectives belonging to other lines could pass over
their line as to lost goods or luggage, and thus also robberies
or frauds might be discovered or detected. The use of passes
had tended to facilitate business on the railways, and was
much restricted. On some occasions free passes were granted
to first-rate reporters on the Press to attend public meetings
or trials, with a view of obtaining correct reports of the pro-
ceedings, and not to depend upon accounts drawn up by so-
licitor's clerks, whose accounts might be incorrect or erro-
neous. Even in this way the interests of the company were
protected from, erroneous statements that might be otherwise
circulated by incompetent parties, as the gentlemen of the
London Press were unbiassed, and local reports were often
partial or too highly coloured.
The Solicitor remarked that he had paid 251. a-year for his
ticket on the line, and that he derived no advantage whatever
from free passes.
Mr. Serjeant GASELEE said Ire was on the traffic committee,
and could assure them that the passes were von carefully
looked into. It was a small matter for a director to have a
pass over the litre, when it was considered that he was not al-
lowed for his services more than sufficient to pay the cab-hire
to and from the office.
After' some observations from Mr. Tito, M.P., Mr. Addison,
and Mr. Marriott, the report was unanimously adopted. A
dividend at the rate of 51. 12s. 6d. per cent. per annum for
the half-year was declared. and the directors were authorised
to place two sums of 23,692/. and 20,2491. to capital account
in accordance with the recommendation of the rerieor
tretirMinrg.
Serjeaut Gaselee,
and Mr. E. J. Hutchins, M.P,,
t directors, were unanimously re-elected, and also Mr. Hopes,
the retiring auditor.
Mr. MALrNS expressed his approbation of the accurate way
in which the accounts were kept, and of the manner in which
the Affairs of the company were now conducted.
Mr. KAY suggested that some means should be adopted to
inducs railway companies generally, and the metropolitan
railways in particular, to adopt an uniform system of accounts,
so as to enable shareholders to compare the various items and
arrive at correct conclusions.
Mr. Serjeant GASELEE proposed, "That the qualification of
directors of the company be, in future, the holding of 2,000 .
instead of 1,0001, stock ii the company."
Mr. SNOW proposed, as an amendment, " That the qual:fli
cation be 3,000/., which was seeonded by Mr. PUNCHER, and
carried unanimously.
It was also agreed that the qualification should be held 12
months by a candidate be ore his election to a seat at the
bcard.
On the motion of Mr. Serjeant GASELEE it was agreed that
the proprietors should have power to remove a diractor by a
majority of two-thirds of those present at a special meeting
convened for the purpose. Clauses would be inserted in the
bill now before Parliament, embodying the foregoing
tion. resolu.
Mr. WOOD then brought forward his motion for rennoving
the banking account of the company to the Bank of Eng-
land.
Mr. UZIELLI satisfactorily explained the preetical difficulties
and inconveniences that would Vise to the company from
such a ceiurse, acrd clearly towed tho advalltnoi wad NXI•