The Sun.
London, England, 1860-01-07 00:00:00

THE GREAT .5111 P COMPANY.

It will be remembered that a meeting of share-
holders in this company was held on the 13th of
last month, to decide upon a course of action against
the board of directors, and which after considerable
discussion without any practical result,i was ad-
journed until the 6th January, five days previous to
the special meeting summoned by the board, which
had also been adjourned by advertisement from the
15th December to the 11th of January. Accordingly
Mr. Alderman Hodgson, who was the chairman of
the previous meeting after Mr. Guedalla vacated the
post, in consequence of his not being able to carry
the meeting wholly with him, and at.whose sugges-
tion the adjournment took place, and some half-
dozen other shareholders, including Mr. Webber,
and Mr. G. Taylor, who had given notice of resolu-
tions to be moved at the special general meeting
adverse to the existing management, attended yester-
day at the London Tavern, but were informed, on
inquiring, that no room had been engaged, and that
no arrangements had been made for their reception.
It was explained that within the last few days Mr.
Guedalla had inserted an advertisement in the
Daily News, inviting the shareholders who attended
on the 13th ult. to meet him on the sth instead of
the 6th of the present month, and that in conse-
quence three or four gentlemen had assembled on
the previous day, but that Mr. Guedalla was not
present, and that nothing was done.
On the present -occasion the half-dozen share-
holders who attended formed themselves into a
friendly conference committee to talk over the posi-
tion of affairs in a social rather than in a formal busi-
ness spirit, and in the course of this conversation
that' ensued, Mr. Alderman Hodgson, who explained
that he had come from Birmingham to be present
as an act of courtesy which he thought due to those
who had adopted his proposal for the adjournment,
stated that a correspondence had been opened by
the directors m ith him since the meeting in Decem-
ber, the result of which was an offer from the board
to submit all the books, accounts, and all matters
connected with the management of the company to
a committee of four gentlemen, viz., Mr. Hope, Mr.
Baker, Mr. Miles, and himself. He further inti-
mated that as the board had thus conceded all that
he could fairly ask of them as a first stop, viz., a
full investigation, he could not in justice, supposing
the offer fairly carried out, join in any resolution of
a decidedly condemnatory character, such as the
no confidence vote, which was involved in Mr. Web-
ber's notice of motion, until the result of the in-
quiry was ascertained. Mr. Miles had declined to act
on the committee, but the other gentlemen were
ready to proceed, and it had been suggested that
the investigation should be commenced as last
Tuesday. On further consideration, however, it was
thought there would not be time to go through
with an examination so complicated and extensive
between that and the meeting called for the 11th,
and that it would be better therefore to defer it. At
the same time Mr. Hodgson added that he should
probably, in conjunction with Mr. Baker, make
such inquiries as might be necessary, to enable him
better to understand the accounts when they were
called upon to confirm the.directors' report at the
i general meeting, which was to be held ou the same
day as the special meeting.
Although there was some difference of opinion as
to the policy of meeting the directors' report with
a direct resolution of want
,of confidence, all ap-
peared to agree that to give satisfaction to the
general body of shareholders and to the public, it
was absolutely necessary that the managing direc-
tor (Mr. Campbell) should retire.—Dally Nina,