The Sun.
London, England, 1856-02-23 00:00:00

GREAT NORTHERN RAILWAY.

Meeting This Day.
SETTLEMENT OF THE DISPUTE BETWEEN

THE RIVAL COMPANIES.
The ordinary half•yearly meeting of the proprietors of
this railway took place this morning, at the London
Tavern, Bishopsgate-street ; Mr. Denison, M.P., in
the chair.

The CHAIRMAN said that before he went into the Par'
titulars of the report he would inform them that the
disputes existing between the rival companies had been
brought to a termination. All the correspondence b„1"1
been published in the report for their information.
was yesterday asked if he would re-propose the proposal
he made on the Bth Feb., that this company would submit
to the re-arbitration of the dispute between them to gr.
Gladstone, and ask him to revive his former award to
their altered circumstance?. He (the chairman), low:,
over, declined to give an answer until the proposal be'
been formally male to him, and on that application
being made in writing, signed by the chairmen of the
other lines, asking him to accept that which had been
before rejected, he attached his name to the document
as accepting it. This arrangement would last for lt
years, and he hoped it would have the effect of increas•
ing the dividends in future.

In answer to a question from a shareholder,
The CHAIRMAN said that the arrangement for the
working.expenses was a question with which Mr. Glad;
stone had nothing to do. No bases of arbitration b""
been agreed to. Mr. Gladstone was to have reference,
to the five years' receipts since his arbitration. Ile bad
great confidence in Mr. Gladstone, and it was remark'"
able the accuracy with which that gentleman bad est'
mated the traffic for those five years.
A SHAREHOLDER said the explanation was satisfse.
ry. The mistake must have arisen in another quarter
with reference to the working expenses.
The CHAIRMAN said it was not a mistake. MVO'
stances might have turned out different to what tog
anticipated. The half-year's receipts were satisfacturfp
and looking to the past and the future, he con'
sidered this railway in a safe and solid Poi'
tion, and that it was in a firmer position new than
it had ever been. The working charges appeared to be
nearly 50 per cent., but on a comparison of that With
any other on a proper scale would appear less than that.
The actual working charges did not exceed 44 per cent'
after deductions fur other companies. He was son:
guine these expenses would be less in the next
half year than in the past. He then referred to
the report, which stated tbat the available balance
admitted of a dividend at the rate of 6 per cent. per
annum ; on the B stock 31 per cent. for the half-year,
making 6 per cent. for the year 1855, and upon the
stock 21 per cent. for the whole year 1855, The diree'
tors recommended that a dividend be paid at these
rates, leaving the small surplus of 1121. 4s. 11d, to 131
carried to the next account. The balance appear!'
small, but the object of the directors was to keep- the
railway in an efficient manner out of the current re'
ceipts of the half-year. It was from its permanent con-
struction and good management that members were in'
duced to prefer to travel by this line to others, and en'
less it was kept in the most efficient manner possible be
should decline having anything to do with it. He moved
the reception and adoption of the report.
Mr. J. PACKE, deputy chairman, seconded the motion.
Mr. MALINS said that in consequence of ithe amicable
arrangement of the dispute between the respective ont°'
paniee, he should not press the resolutions of which be
had given notice, and repeated the statement hat
made yesterday at the Great Northern meeting, that
before the opposition commenced it would have been
better to have called the' shareholders together Oa°
have obtained their feelings on the question. .I'B
acquitted the company from originating this dispute,
and concurred in the statements of the Chairman, as to
the satisfactory condition of their receipts, and the state
of the line ; and thus they bad less to fear from cone;
titian than any railway in the kingdom. He assumed
the position of a railway reformer not from factious feel"
inns, but to promote the good of these undertakings
generally.
The report, after some further discussion, was agreed
to.
Mr. C. NICHOLSON moved a resolution, "That the
shareholders at this meeting assembled highly approved
and applauded the conduct of the Chairman of this nova'
pany in his manly defence of- the interests of the our
pany pending the recent disputes between the Land°
'and North Western, the Midland, and the Manchester
and Sheffield directors, and beg thus specially to acknow"
ledge their gratitude to him for thus, adding another to
the many obligations he had rendered to the Great
Northern Railway."
Mr. BILLINGS seconded the motion, which was carried
unanimously.
The CHAIRMAN returned thanks for this expression Of
their feeling, but he begged to say that he could bare
done nothing without the assistance of the directors.
The dividend recommended by the board of directors
was declared, and would be paid about the 10th or 15th
of March.

The CHATEMA.N said some delay was necessary to Pre"
_vent mistake. On some occasions it had occurred that
persons had received wrong dividends, but the par!iel
in whose favour the mistakes bad been made had not
communicated those mistakes to the secretary.
A discussion ensued on a resolution submitted by .the
directors to the meeting, authorising them to appropriate
annually out of the funds of the company sums not es-
needing 2301. in remunerating the schoolmaster and,
niistrcss, and providing books, &c., for the schools, ana,
2001. to a clergyman for conducting Divine Service, air.
affording spiritual instruction to the company's servants
at Don, aster.
Mr. TACKETT moved an mendment that the sum for
the provision of a clergyman, should be omitted from
the resolution.

The amendment having been seconded,
The CHAIRMAN said he considered it was the duty
of the company to provide religious instruction at Dol"
caster for their 1,000 servants with their wives and chit'
dren. He protested against the seconder of the amend.
meet objecting to this grant, he being a preference share-
holder, and had to be paid his dividend in full before alto'
sum could be taken from the receipts of the compaol•
Mr. Coma suggested that preference shareholders
should abstain from voting on this question.
After some further discussion the original motion 116
agreed to.
Some other business was disposed of, and the meeting
separated after a vote of thanks to the chairman ana
directors.