The Sun.
London, England, 1857-12-01 00:00:00

VtfCb Mbttton

SUN OFFICE, Seven, o' Clock.

GREAT NORTHERN RAIL WAY.

ADJOURNED MEETING THIS DAY.
The adjourned general meeting of the shareholders in
this undertaking was held this day at the London Tavern,
Bishopsgate-street—Mr. E. Denison, M.P., Chairman of
the Board of Directors, in the chair. The former meet-
ing, it will be recollected, was adjourned to enable the
directors to appeal to the Court of Chancery, relative to
the liability of the preference shareholders to participate
with the ordinary shareholders in the losses arising from
Redpath's defalcations. On Saturday week last
the Lord Chancellor and the Lords Justices delivered
their decision, placing preference shareholders in the
same position as guaranteed stook, and relieving them
from the losses accruing in consequence of such defalca-
tions. The meeting was very numerously attended, and
much angry feeling
was displayed by the shareholders
throughout the whole of the proceedings. The chairman
and directors were received with loud cheers, interspersed
with a few hisses ; the former predominated to a great
extent.
The SECRETARY having read the advertisement con-
vening the meeting, and its object,
Mr. HUGHES, before the commencement of business,
called attention to the use of proxies, urging that
if they used now the proxies issued for a former
occasion they were illegal. (Cries of " No, no,"
"Hear," and uproar, with cries of "Don't be bullied
down by any one.") He referred the legal advisers of
the directors to the 7th Victoria, which provided that a
proxy for one meeting might be used by the directors at
another. ("Hear," and uproar.)
The CHAIRMAN said that they were assembled to con-
sider the report of the directors issued in August last,
with one that had been recently issued. The assets for
the first half-year of 1857 left an available balance for
A dividend of upwards of 183,0001, after paying the
interest upon the debenture bonds. He should now
content himself with asking the meeting to receive the
report that had now been in their hands for the last two
or three months.
Mr. WILSON—Won't you reply to the remarks stated
by Mr. Hughes, and condescend to give us your opi-
nion on the legality or iilegality of using such proxies.
(Hear, hear, and confusion.)
The CHAIRMAN—I now move the reception and adop-
tion of the report. (Cheers and hisses.)
Mr. HEATH rose to make some observations on the
reports. (Cries of " Off, off," hisses and cheers.")
iChe CHAlRMAN—Practically speaking, you are too
late. You should have spoken before I put the ques-
tion. (Hisses and uproar ; a voice---" Do you moan to
bark all expression of feeling on the report.")
Mr. HEATH, after some difficulty, was listened to for
a few minutes patiently, in the course of which he re-
plied to the paragraph in the directors' report relative to
the conduct of the preference shareholders. He at-
tempted to defend the latter, but he was soon assailed
with hisses—(cries of " Off, off," " Time, time," and
" Question, question"), which continued throughout his
address, and prevented his being heard with any degree
of accuracy.
Mr. JOSIAH WILSON asked if the meeting was called
upon to peas the accounts for the last half-year ?
The CHAIRMAN—I have asked you to receive the
report ?
After some remarks from several shareholders,
Mr. BILLINGS opposed the report, on the ground
that the statements contained in it were incorrect.
He characterised the publishing of the holdings of every
individual shareholder as a breach of commercial trust.
It was not money that made the man, but his conduct,
and a small holder might be as good a manager, and
have as great a desire to promote the undertaking as
a large holder. He denied that preference Qbareholders
were partners in the concern, but mere money lenders.
The arguments of the directors relative to the detection
of Redpath's forgeries were as cracked as "Big Ben."
(Laughter.)
Mr. GREENING charged the directors with a deliberate
untruth in what they had published in the 6th paragraph
of the second report issued, and dated 26th November.
Mr. WILLIAMS and other gentlemen at'empted to ad-
dress the meeting, but were unable to obtain a hearing.
Mr. HUGHES called on the chairman to preserve order.
(Cries of " The meeting is pecked," and uproar.)
Mr. J. WILSON again rose to address the meeting,
and was met with cries of " Spoke."
The CHAIRMAN—Yon are out of order. You have
already spoken on the motion. (Cheers, and cries of
" Shame.")
Mr. J. WILSON--I have not spoken to the question ;
I merely asked a question.
The CHAIRMAN--I have no objection to hear your
eloquent speech. It rests with the meeting. , Hisses
and cries of "Insult.")
Mr. VALENTINE KNIGHT rose to Address the meeting,
and was met with cries of " Another preference share-
hold,r," to which he replied "he was sorry for those
unfortunate shareholders who were not." (Hear, and
laughter.) He called on the meeting to calmly cmlider
their position, and lauded the management of the line
by the chairman and directory, though he condemned that
gentleman's haughty feeling in the chair towards tbe
meetlne. He should support the adoption of the report.
Mr. GEISLER (a member of the committee of share-
holders) rose to propose a resolution sanctioning the
expenses of the committee.
The CHAIRMAN said he was out of order, but would
call on him at the proper time. He then sail that before
he put the motion for the adoption of the report, he
would make one or two remarks. If he, had ever said
anything discourteous to any one, it had been in conse-
quence of provocation given at the tiree, and he was very
sorry for it. (Loud cheers) He reminded them that
a person occupying the responsi'le position he held
had a great deal to go through. Ho was ready to let
bye- ones be bye-zones, and forget all that had
passed, and he asked them to do the same.
Mr. HUGEIES—Does that inc!ucle your observations in
your report ? (Cheers and hisses.)
The CHAIRMAN sail he made these remarks purely
from personal feelings, never having intended in his life
to insult any one. (Cheers.) He had been on many
occasions provoked, and had no doubt spoken at the
time candidly what he meant. (Cheers.) He then put
the motion which had beer seconded, which was carried,
two only billing up their hands against it.
The CHAIRMAN then moved the payment of a divi-
dend in accordance with the terms of the report, re-
marking that the preference shareholders would be paid
in fell, which had ever been the desire of the directors.
Mr. VAL. KNIGHT (4 preference shareholder) seconded
the motion.
Mr. BILLINGS (a preference shareholder) said that if
the preference shareholders were not pni4 interest he
should consider the directors had robbed him.
Tee motion was put and c t.ried, two only holding up
their hands against it.
The CHAIRMAN declared the motion carried, and said
an effort would be male to pay the dividends in a fort-
night.

—Mr. GREENING (a third clans preference shareholder)
moved a vote of censure on the chairman and directors,
in the course of which he opened up the case of tb9
preference shareholders. He said the qu.stion was,
whether they were liable for the thousands aGd tens
of thousands of pounds of dividend the shareholders
ought to have received. The speaker read varion
extracts from the chairman's previous speeebe., is the
course of wEis::h he was desired to "cut it short,"
but ho angri'y replied, "I shall u:e my discretion
Rhea that." He proceeded at great length, and
amidst much confusion, to reiterate most of the charges
that have been urged against the directors for their
conduct with reference to the Redpath frauds, and
the subsequent litigation with regard to the prefer-
ence shareholders.

Mr. HUGHES seconded the motion. his wish was
to blame the Cha'rman alone, because it was well known
that he was the autocrat and despot of the line, and the
directors only his puppets. (Cheers, and cries of " No,
no.") It was quite clear from the investigation that had
taken place that the chairman had sufficient knowledge
in time to prevent the perpetration of the Redpath
frauds. He bad therefore ben guilty of gross negli-
gence sufficient to render him personally liable with his
colleagues for the losses inflicted on the shareholders.
Ha protested against the nse of proxies on this
occasion, and said he should take means to prevent the
using of them if the directors persisted in doing so.
Mr. SCOTT proposed an amendment, as a meats of
amicably acttling the question, to the effect that the
directors were chargeable with neglect in placine, too
much confidence in the offieials of the company and the
secretary in affixing his signature to the dividend warrants,
as presented to him in bundles, without checking the
amounts' bad been guilty of the grossest negligence, and
had afforded a temptation to the commission of crime,
and hence the means of precipitating the issue of
219,0001. fraudulent stock, bad thereby forfeited the
confidence of the shareholders, and ought to be super-
seded. -
Mr, Lrcic seconded the amendment.
Mr. FEN WICK defended the conduct of the secretary
from the attack that had been made upon him, urging
that it would have been impossible for any one to have
guarded against the villainy of such au insidious vaga-
bond as Itedpath.
Mr. Sergeant WELLS advised the meeting not to adopt
a course that secede tend to the injury of the railway
stuck. Ile eulogized the management of the line by
the directors, illustrating it
ovai o reference to the weekly
milli
receipts
greater ins to 23.zil oo a capital of 11
ons,proportion thantnhereceipts on any
Bich
other lheinesaid . He
emanated fro condemned this attack on the directors,
professional agitators and
wm
would-he railway reformers.
man, but
he
.
did
Mr. WATERS (one of the committee) said that they
had done their best to benefit the une
considered the secretary a truly honest tudnta:
not posFess sufficient ability for the efficient discharge of
the duties of the office. Ho then referred to the a
pointment of the secretary,.
alleging that it was ow'rk, tpo
the chairman, who made it a condition on his tatting
It's a falsehood. Leon Lampert BANKRUPTS.
office.
The SECRETARY—It is not true.
Cheers.o)fficial to surrender, D.
fm:a uckzptei
foreign mining avant, Fenchurch-street
You never uttered a grosser falsehood. (
11, at half-pist*two% and Jan. 12, at
Mr. WITHERS, af;er referring to the many s tjw,,W2n,.ina2,t.3:Dbaeatte,e;arrtaito.
-pit
two,
Sheffield.
tihrontLuieuacilabnai,i S,
shheeffitneledh,l.Dec. 12 and
that had been named as the victims of their wrath, said _Th
_masGorrery,
at the
we atchmaker, Sheffield, Deo. 12 and
that probably the " auditors" were as much to blame as
Bachrach, merchant, Dalston, D.3c, 11,
He,
any of the officials. (Freer, he and laughter.) Jan.
Louis
u2i3s, al,
it yot
.73, however, did not intend to charge them with negle.ct of
duty, but the real party to blame was the unscrupulous at three, and Jan. 12, at two, at the
forger who bad fallen into the hands of the law and William *Lake, tailor, Oxford, ourt of Bankruptcy.
c 14, and Jan. 18, at
been justly punished. It was 'impossible to get their twelve, at ,Lake,
Court of Lisnkraptcy,
money back again, and the b.: at thing they cou'd-now _Henry E. Moss, rershant, Liverpool, Dec. 11
do was to forget tie past, accept the ghairel au's hand- . ,at eleven, at the Liverpool District Court, , and Jan,

COMMISSION SIGNED BY THE QUEEN.
Worcestershire Regiment of Militia—Captain Henry
Mayne to be Paymaster.
COMMISSIONS SIGNED BY LORDS LIEUTENANT.
Tower Hamlets—Edmund Charles Johnson, Ejq., to be
Deputy Lieutenant.
King's Own Light Infantry Regiment of Militia
Joseph Hamilton, late Lieutenant, Armagh Militia, to be
Lieutenant ; Win. Lawson Tewart, Gent., to be Ensign.
County of Lincoln--John Hassard Short, Esq., to be
Deputy-Lieutenant.
Royal North Lincoln Militia—Augustus Charles Short,
Gent., to be Ensign.
Worcester Regiment of Militia—Thomas O'Beirne,
Gent., to be Assistant-Surgeon.
2d Regiment of Royal Cheshire Militia—Lieutenant
George Lewis Cuming to be Captain, vice Aldwell, re-
signed ; George Walker, Gent., to be Lieutenant, vice
Reade, appointed to he 62d Regiment : Edward William
Plowright, Gent., to be Lieutenant, vice Howard, deceased.
Royal Gloucestershire Regiment of Hussar Yeomanry—
Lieutenant Robert Stayner Holford to be Captain, vice
Paul, resigned ; Cornet Henry Morgan to be Lieutenant,
vice Holford, promoted ; John Henry Grevillo Smith,
Gent., to be Cornet, vice Morgan, promoted ; George
Acland Ames, Gent., to be Cornet, vice Henry Metcalfe
Ames, resigned. _ _

3d or Mike of Lanceater's Own Regiment of Royal Lan-
cashire Militia—Gracchas Hall, Gent., to be Ensign, vice
Robert Blackmon), promoted.
Royal Cardigan Militia—Edmund Lloyd, Gent., to be
Ensign, vice James Morice, appointed to the Turkish
Army.

Inverness, Banff, Elgin, and Nairn Regiment of Militia
—Thomas Brown to be Ctptain, vice David Davidson
Manson, deceased.
Northamptonshire Militia—Ensign Charles Jennings to
ba Lieutenant, vise William Evans, removed.
[The foliowing appointment is substituted for that whieh
appeared in tile Gazette of the 20th Nov. last :—]
Noithamptonshire Militia—Henry Charles Chaves Lit-
cena, Gent., to be Ensign.