The Sun.
London, England, 1866-09-27 00:00:00

BERWICKSHIRE.

The half-yearly meeting;;;l;id at Greenlaw on
Saturday ; Sir H. Campbell in the chair.
The report congratulated the shareholders on the
regular and satisfactory working of the line. The
earnings for the half-year were £1,598, being an
increase, arising in consequence of the completion of
the line, of £568. The balance of receipts, after
paying all charges, was £742, which it was proposed
to add to the balance of £296 from last half-year,
and carry to next half-year's account.
The CHAIRMAN said it had on a former occasion
been resolved to declare only one dividend in the
year, and therefore it was proposed to carry the
balance forward.

The report was adopted, and thanks were given
to the chairman.

BUENOS AYRES GREAT SOUTHERN.

The adjourned general meeting of this company
was held yesterday at the London Tavern ; Mr.
Brown-Westhead in the chair.

The Secretary having read the minutes of the last
meeting, at which a committee of investigation was
appointed, and the meeting adjourned to that day
to receive their report.
The CHAIR3IAN called upon Mr. Wheeler, the
chairman of the committee of investigation, to sub-
mit the report of the committee and to propose its
adoption.
The report was taken as read.

Mr. WHEELER, in moving the adoption of the re-
port of the committtee of investigation, said that a
copy of it had been sent to all the proprietors. He
spoke in high terms of the ability and care with
which the other members of committee had investi-
gated the affairs of the company, and hoped that
the proprietors had read the report carefully, and
were satisfied with it.

Mr. S. HERAPATII, a member of the committee,
seconded the motion. He said that the investiga-
tion of their affairs had inspired him with great con-
fidence for the future of the undertaking. Every-
thing depended on the management of their affairs
with the most rigid economy both here and at Buenos
Ayres, having of course due regard to the efficient
working and development of the traffic. He looked
forward to their having something beyond the 7 per
cent. guarantee. (Hear.)
Mr. BOWMAN objected to the recommendation in
the report to limit the number of directors to six ;
and concluded by moving as an amendment that the
number of directors be seven, instead of six. With
that exception he had no objection to the report.
Mr. L. HEYWARD, a director, remarked that a great
many of the shareholders resided in Lancashire, and
if there was another with him representing that in-
terest on the board they might always manage for
one of them to attend the board meetings in London.
Mr. Bowring held a large amount in the undertak-
ing, and his election would be considered in Lanca-
shire as an acquisition to the board.
Mr. GREEN suggested that Mr. Grabble should be
added to the board.

Mr. H. WHEELER objected on the part of the
committee to any alteration in that part of their re-
port. They had fully considered and discussed that
recommendation in committee. He regretted to say
that impediments had been thrown in the company's
way. Title deeds had been kept from them ; their
capital had been exhausted; and they would have to
borrow money to pay their debts.

Mr. S. HERAPATII said it would be unwise at pre-
sent to enlarge the board. There were 5,000 shares
held in Lancashire, and the holders were amply re-
presented at the board by Mr. Heyward and Mr.
Brown-Westhead. They had also interests in Buenos
Ayres.
The CHAIRMAN appealed to Mr. Bowman to with-
draw his amendment. At the last meeting the pro-
prietors had appointed a committee to investigate
the affairs of the company. The committee had, it
appeared, performed that duty, and had reported
the result of their investigation, which was now be-
fore the meeting. The committee had been impar-
tially selected; they had gone fully into the ac-
counts, satisfied themselves in every way, and made
certain recommendations which he thought the
shareholders had no right to complain of. If any one
had a right to complain of those recommendations,
it was the directors, but they had not done so. 'When
the proposal for the appointment of a committee was
made at the last meeting the directors offered no op-
position to it, although they held au overwhelming
number of proxies. They had nothing to conceal,
and thought a searching inquiry would fully satisfy
every one, and that there would be an end to the
agitation that had been kept up by gentlemen having
other interests than those of the company. He be-
lieved he was better known in Lancashire than in
London ; at any rate, he had large interests there,
and would be glad, if it was the wish of the share-
holders, to make room for Mr. Bowring or any other
gentleman. (Cries of " No, no.") He thought
that with such a report before them there would
have been au end to any further opposition. He had
heard that Mr. Grabble was a most eligible person
for a seat at the local board, but at present it was
considered undesirable to alter the plan recommended
by the committee.

The amendment was rejected, and the report of
the committee of investigation was adopted almost
unanimously, there being only one dissentient,
The report of the directors and statement of ac-
counts standing over since the last meeting were
then adopted, and the retiring auditor was re-elected.
Resolutions authorising alterations in some of the
articles of association were agreed to after a long
contest. They were to the effect that the future
annual meetings should be held in the month of May,
that the number of directors be six, that the quorum
be three, and the remuneration be £l,OOO a year;
that under the Seal Act, 1864, the seal of the com-
pany be used in London and a duplicate seal in
Buenos Ayres. The best thanks of the meeting were
unanimously voted to the committee of investigation.
The CHAIRMAN, in reply to a question, said the
directors would be happy to consult the committee
on any question that might arise.
A vote of thanks to the chairman and directors
concluded the proceedings.