The Sun.
London, England, 1866-11-15 00:00:00

LONGLEATE HANDICAP.

The Longleate Handicap of 5 sous each, for all ages ; win-
ners after the declaration of the weights 71b extra; about
three furlongs, straight.

Volunteer (Pordham) 1
Chibisa (Butler) 2
Prima Donna (Wyatt) 3
Qui Vive, Kilkenny, Usher, Spokesman, Shrapnel',
Haidee, and Lake Superior also ran. Betting-6 to 4 agst
Volunteer, 7to 1 agst Usher and Qui Vivo. Won easily.

Foreign !flail Packet List.

,WAY INTELLIGENCE.

-.a_-

NORTH BRITISH.

The special meeting of this company was held in
the Music Hall on Wednesday to receive the report
of the Committee of Investigation, &c., to confirm,
alter, or rescind the resolution of the directors, and
nominate a new board.
Mr. Balfour, in the absence of Mr. Hodgson, was
called to the chair.

A letter was read from Mr. Hodgson, dated Ret-
ford, Nov. 13, regretting his inability to attend.
He had for two days been in bed from a painful at-
tack in the head. He left London onTuesdaymorn-
ing, but was obliged to give up the attempt to be
present. He had already, in his published addresses,
referred to his views on most of the subjects to be
discussed, but much regretted not having the oppor-
tunity of thanking the shareholders for the uniform
kindness he had received.

Mr. WHITE, chairman of the Investigation Com-
mittee, spoke for two hours in moving the approval
of the report. He stated that the committee and the
directors supporting them had in round Lumbers
£5,000,000 worth of proxies, while Mr. Hodg-
son and his friends had £1,500,000. He vin-
dicated the committee's report on points on which it
had been challenged, and maintained that the in-
tervention of the committee had saved the credit of
the company. He read excerpts from the proof just
printed of the evidence which the committee had
taken, and which he said showed that Mr. Hodgson
was the real offender, and under him the manager
and accountant who did his bidding. He acquitted
the directors of all share in those transactions, but
thought they were to blame for want of diligence.
As to remedies, the first thing was to get rid of the
present chairman and to appoint a new board. The
committee proposed that four of the former directors
be retained, and they had to propose also four of
their own number and three shareholders they had
selected, leaving these 11 to elect the remaining four.
The committee thought the resignation of the audi-
tors should, under the circumstances, be accepted.
Two amendments were proposed—one by Mr.
Garbett, that the committee's censure should
include the whole of the directors, and another
by Mr. Stitt, of Liverpool, for the consideration of
the revenue account, on the ground that the com-
mittee had transferred some items to it properly
chargeable to capital. Both amendments were lost i
by a large majority.
Mr. CRAVEN complained of the evidence taken by
the committee being withheld till this moment, and
only so much given as would convict Mr. Hodgson.
Mr. WHITE said one reason for withholding it
from Mr. Craven was that he was an ally of Mr.
Hodgson's, and a traitor to the company. _ _

The CHAIRMAN moved that the resolution of the
28th Sept. last, declaring dividends on the prefer-
ence stock, be cancelled, and he moved a resolution
in terms of the committee's report. lie said the di-
rectors thought the committee had dealt rather
hardly with the revenue account, but they did not
wish to cavil with the company's proceedings.
Mr. CLOUSTON moved--" That Mr. Beaumont,
Mr. Ronald, Mr. Orr Ewing, and Mr. Muir be re-
elected directors ; that Mr. Harrison, Mr. Robert-
son, Dr. Matthew, and Mr. Young be . selected
from the committee as directors ; and that Mr.
Harvey, Mr. F. Maxwell, and Mr. R. 0. Campbell
be selected from the shareholders as directors."

Complaint was made of the large Glasgow ele-
ment in the Board, but the Chairman said that the
vacancies might be filled up by English shareholders.
Mr. GA I:I3ETT objected to any of the former
finance committee being included, but his motion,
which applied to Messrs. Beaumont, Ronald, and
Muir, was lost.

Mr. APGAvIN moved—" That it be remitted to
the directors to consider as to how they should raise
the necessary funds to meet the company's liabili-
ties."—Carried.

Thanks were given to Mr. White, the chairman,
and the other members of the Investigation Com-
mittee, and a vote of thanks to Mr. Balfour for pre-
siding closed the proceedings.