The Sun.
London, England, 1858-08-10 00:00:00

GREAT EASTERN STEAM NAVIGATION
COMPANI'.

MEETING THIS DAY.
An extraordinary general meeting of the proprietors in
this company was held this afternoon, at the London Tavern,
to receive and consider a repot t from the court of directors,
And to decide upon and adopt such measures in reference =
thereto as the meeting might deem fit.
The chair was taken at two o'clock by Charles Hone, Esq.
The usual routine business having been transacte,
The CHAIRMAN called upon the secretary to read the
report of the directors, which was as follows :
"Your directors having met the proprietors so recently
as the 20th July, have Weft.) to report that they have had
two conferences with the committee of co-operation since
that date, the result of which is embodied in the following
report :
"The committee appointed at the general meeting of pro-
prietors on the 20th of July, having met at the offices of the
company on the 22d and 28th ofJuly, and having diicussel
with the directors various propositions, for the purpose tV
extricating the company from its difficulties, it was unani,
ttiously resolved to submit the fallowing recommendation to
the proprietors at an extraordinary general meeting to be
lye on the 10th of August :
es 1. That it is the -pinion of this committee that the
Great Eastern steam-ship should be put up to sale by
auction.
2. That it is further the opinion of this committee that
in the event of any sum being offered by private contract the
-power should be given to the Court of Directors to accept
such a sum as they may think fit."
The CHAIRMAN moved that the report be adopted.
A pause then ensued, no person rising to second the mo-
tion. At length
A PROPRIETOR rose and said it appeared to him that, to
ask the meeting to agree to such a resolution was asking
the proprietors to commit suicide. He thought the best
thing the meeting could do was to hold on a little longer.
Another SHAREHOLDER maid he did not suppo,e the di-
rectors really meant to dispose of the vessel in such a reek •
less manner as a sale by auction.
3IIA.REHOLDER asked whether there was not a prepo-
sition 43 form a new company ?
The CHAIRMAN said lie looked upon such a proposition
as a perfect absurdity. It was, in fact, a proposal to sell the
ship for £90,000.
A SHAREHOLDER—D29O,OOO.
The CHAIRMAN said £90,000 was the sum, because the
£200,000 would be required to fit the vessel for sea.
After a long discussion, in which various suggestions were
tpAde as to the reception of the report,
)14. fipATTIE said if the adoption of the repo t precluded
the oonsideration of any scheme for rescuing their property
from its present difficulty, he never would have si2ned.
Various schemes had been under the consideration ef
the committee, but the one that lie deemed the most
feasible was that the vessel should be offered to the share-
holders at a price sufficient to pay off the debts of the ship
and to send her to sea.
Mr. CAMPBELL, M.P., said that proposition emanated
m hitu. He t t u e only way to remove the compar.y
(Fgie, its difficulties was for the shareholders tot aise a sum of
hd,ooo to pay off the liabilities, and £60,000 to senil Ater to
sea. The proposal was, in fact, that the present holder of
..44),000 would t ave to ean tribute £l,OOO.
Me, STARLING looked upon such a proposition as the
oonfiecatioo.ef the property of any man who had invested
the only thousand pounds he bad in the world. What was
such a person to do if web: a proposition was agreed to ?
(Cries of " Sell, sell.")
A motion far the reception, but not the adoption of the
report, was ultimately agreed to.
.4 long discussion then arose with respect to the preposition
to rtlj tfie ship by public auction, some of the shareholders
strongly objecting to such a c se.
Mr. FRESIIPIELH moved that the directors be, and they
are hereby, authorised to receive offers for the pur-
chase or charter of the ship, and also to adviri-e
her for sale by pul l'c autti. n; in the meantime to
rais2 money by mortgage on preference shares, or on such
conditions as the directors this k fit.

Kr. BAKER seconded the motion.
An amendment for oinittirg the words "by public ate-
was then moved, but it was rejected, and the wigival
11)11044 Wreed to.
In answei; to §hareholder,
The CHAIRMAN' said the assent of the shareholders
would be necessary before any dentate proposition was ac-
cepted.
A vote of thanks to the Chairman terminated the pro-
ceedings.

The Banshee, Admiralty steam-vessel, arrived in harbour
ypsterday, from Portsmouth, and after coaling will proceed
to Geaveeend to-morraw to join the royal squadron.
The Barossa, 51, screw-frigate, has been commenced on
the slip from which the Challenger, screw• corvette, was
launched, A large number of shipwrights are no ,v employed
in preparing the timbers for her hull.
The Forte, screw-frigate, 51, recently launched at Dept-
ford, has received her machinery, and is now in a forward
state.
THE ROYAL EMBAREATION.—The Vivid, Admiralty
eteerp vessel, Master Commander Allen, arrived at Graves-
eed from Portsmoutk on Saturday, to accompany the royal
yacht; and the 'Black Eagle, Admiralty steam yacht,
Master Commander John E. Petley, is ordered for the same
ervice. The Princess Al-ce steam vessel is ors'ered to get
steam up early on Tuesday morning, and embsrk Commo-
dore Superintendent J. Shepherd and a select party of
officers of the naval and military services, who will
proceed to Gravesend to witness the royal embarka-
tion. The Banshee, Admiralty steam vessel, will join
royal squadron to-morrow, and it is anticipated
I let ether vessels from the late dierboure; squadron will he
nreeer--i. The arrangements for the embarkation from the
Terrace-pier to the royal yacht will be cornrleted under the
Vpperintendence of Mr. Peake, azsistant-master ship, right
at this yard, who was employed on similar service at rile
recant embarkation of her Royal Highnese the Princess of
Prussia. The Woolwich Steam-boat Companies will run
early and fast boats on Tuesday morning, and remain in the
river to enable the public to witness the embarkation.
ARTILLERY FOIL INDIA.—Major Crawford's Y Battery
Pf Royal Artillery assembled on the Common this morning,
After inspection, proceeded frcm the garrison to
taravesend, for embarkation to India. Several volunteers
'aye joined the company.