The Sun.
London, England, 1856-08-16 00:00:00

OND

RAILWAY INTELLIGENCE.

GREAT WESTERN.
The half-yearly meeting of this company was held yes-
terday at the Bristol station ; Lord Barrington in the
chair.

I'if tie report was then agreed to unanimously, as was
the text resolution, authori-ing a dividend at the rate of
221 pr cent. per annum on the half year.
M'. lkließs then proposed the resolution, and
Mr. WITHERS seconded it, remarking upon the absence
of corrtnereial men from the direction, and recommend•
ed theappointment of sub-committees who should have
the sipervision of all matters connected with the rail-
way. If this were done he believed that the turning
point it their fortunes might be realised. The bonded
debt of the Great Western Company amounted to
10,000,0001., upon four-fifths of which the interest of 5
per cent, was paid, while only 1-11th of the bonded debt
of the North-Western and 1-12th of the debt of the Mid-
land pail that large interest. Pie trusted that the
shareholders would "quit themselves like men," and
that they would agree to the resolution which had been
submitten. (Hear, hear.)
The Cils.rultax regretted as much as any one the ab-
lance of commercial men from the board, but he said that
there was % great difficulty in obtaining the services of
such persons. The fact was that men of business had
their own affairs to attend to, and the board, therefore,
were not able to secure the assistance of the most avail-
able men. Ile did not believe that sub-committees
would conduct t'oe business of the company better than
it was at present, and he saw a great difficulty in the
way of appointing the gentiemen who should act upon
the committee.
Mr. WITHEts here handed in a list of names.
The CHAIRMAN inquired whether any of the gentle-
men proposed were holders otNorth-Western stock ?
Mr: PaukEa. (who was included in the list) stated
that he was a holder of North-Western stock, but not
nearly to the extent to which he was interested in the
Great Western Company, Independently, 'however, of
every consideration of that nature, it was his intention
to support the motion,
Mr. BAYLEY, who was also named on the committee,
said that his interest in the Great Western Railway was
much greater than that which he held in the North-
Western.
Mr. BAKER stated that the reason which had indu ted
him to resign his seat at the board was that he had found
himself unable to carry out a system of reform in the
management of the company which he had long ohs-
richer]. He thought that the board was defective in its
character, inasmuch as it was rather more deliberative
than executive ; and although he would do nothing to
revolutionise the constitution of the company, he did trot
approve of throwing the whole responsibility of the
management of the finances of that immense under taking
upon one person.
Mr. VVA.LroLE, M.P., said that, although the resolu•
tion proposed by Mr. Miles was not unreasonable, as
nothing proposed by him was likely to be, he thought
that, in its present form, it ought not to be persisted in.
Focinstance, it recommended the appointment of a num-
ber of gentlemen as a committee, of whose names no
notice had been given ; and hence there was no guaran-
tee that the gentlemen appointed would fully represent
the fselings of the proprietary at large. He suggested
that, instead of Mr. Miles's resolution, something to the
following effect should be agreed to :--
"That Mr. W. Miles be requested to consult with the di-
rectors as to whether any, and, ifany, what alterations may
be desirable in the present constitution of the board ; and
to propose the names of any persons eligible as directors,
with powers tool!! a special general meeting, if neces eery,
to decide upon any such alterations in the direction as
they may think needful."
Mr. MILES did not like to take the responsibilty upon
himself of dealing with the directors, but if three other
gentlemen were associated with him he had no objec
tion.

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