The Sun.
London, England, 1858-01-23 00:00:00

RAILWAY INTELLIGENCE.

n g
oGßEATfpreference
A. meet
NORTHERN.
shareholders in tbis com-
pany was held yesterday at
the London Tavern, to
receive a final report
from the committee appointed
to protect the interests of the preference share-
holders'e chair. Mr. Williams in th
The Chairman read the report, which gave a
summary of the proceelings taken by the comtnit'ee
appointed in May last to defend h "
t eir interests
The matter came before Parliament in due course,'
and owing to the strenuous exertions of Mr. Heath
Mr. Williams, and Mt SSTS. Lawrence, the solicifore,
the matter was brought to a successful conclusion.
The attempt in the House of Lords by the intro-
duction of an amendment in the bill to deprive the
preference shareholders of their rights was frus-
trated in the House of Commons by the rejection of
that amendment. Immediately after the bill
received the Royal Assent proceedings were
taken in Chancery. The question as to the pre-
ference shareholders' claims came before Vice-
Chancellor Wood, who decided in their favour.
The directors appealed from that decision to
the Lords Justices, who, after a full consideration
of the subject, in November last affirmed with
costs the decree of Vice-Chancellor Woed. The
funds placed at the disposal of the committee were
more than sufficient to defray the legal and other
expenses, and there remained a surplus of 123/.
The committee now wished to know bow that sum
should be disposed off, as their labours had been
brought to a close.
Mr. J. C. HEATH, at considerable length pointed
out the importance of the decision which had been
obtained. It defined in a more precise manner the
relative rights of preference and ordinary share-
holders. He considered that the preference share-
holders were much indebted to Mr. Charles Wil-
liams as the originator of the movement which had
succeeded in establishing the rights claimed by the
preference shareholders on a firm b Isis. He then
adverted to the proceedings in Parliament, and
showed that the mode of dealing with railway pro-
perty by the chairmen of committees in both
Houses required amendment.
Mr. C. Cooxsom proposed that the best thanks of
the meeting be given to Mr. Charles Williams and
Mr. J. C. Heath for their great exertions on behalf
of the preference shareholders.

Mr. J. B. ROSE seconded the motion, which was
carried by acclamation.
Mr. WILLIAM 3 having vacated the chair and re-
turned thanks, the Rev. W. CAMPBELL was voted
thereto • and, after some observations from him as
to the labours of the committee and the great ad-
vantage to preference shareholders in general gained
thereby,
Mr. 0. COOKSON proposed that one-half of the
surplus in the hands of the committee, and of any
further contributions which might be received, be
added to Mr. Charles Williams's te,tinionial fund,
and the other half be appropriated to purchase a
suitable testimonial for Mr. Heath.
Professor Horrus seconded the motion.

Mr. GREENING, having alluded to the very active
and important part taken in the movement by Mr.
Heath, the resolution was carried unanimously.
It was arranged that Mr. Brown and Professor
Hoppus should carry out the resolution and receive
fur:her contributions until the 21 of Feb. n. at.
After votes of thanks to Messrs. Lawrence and
Nisbet, the solicitors employed, and to the Chair-
man, the meeting separated.