The Sun.
London, England, 1857-06-30 00:00:00

-
The yearly meeting of the shareh >l lers in this under-
taking
was held this afternoon at the Bridge-hoe se
Hotel, London Bridge. Mr. tAudereon, the chairman
of the directors, presiding.
The follewing report of the directors was read by
the society :--
The total revenue of the company during the last year
was 115,927/. fle. M., and the expenses 87,871/. 19s. 141.
showing a profit of 27,735/. 7s. 7d. on the year's opera-
tions. A large amount, upwards of 11,0 :1/., has been
spent in the maintenance of the fabric. This has chiefly oc-
curred in connection with the floors and roofs of the pa-
lace, the former of which were Much decayed from their
having been in contact with the earth of the flower beds;
and the latter, from their nature and extent, required
time before settling to their places, during which constant
supervision and expense have been necessary. The floors
have been thoroughly repaired throughout, in such a man-
ner as to prevent a recurrence of the decay, and the roofs
of the great transept and of the other parts of the build-
ing have also been refitted, and put into a state of perfect
repair and effieiency, and are now stronger and better than
at any f rrner period. A considerable outlay has been
also incntrel in the department of the external gardens
—works rendered necessary front the fact that a consi-
derable portioh of the lower part of the park
had hitherto been in an unfiished state ; the whole
has now been laid oat mai planted, and walks
carried round the whole of the gardens, thus adding
very considerably to their extent and attraction. In addi-
tion, an extensive cricket-groun 1 has been formed, which
will, undoubtedly, become a source of revenue in future
years. As the whole of these works are now completed, no
farther outlay on this head is likely to be acquired. The
directors are deeply impressed with the great importance of
reducing the expense under all heads to the lowest possible
liosit ; but still they believe that the real interests of the
shareholders are best consulted by maintaining the palace
and park at the highest state of efficiency and perfection,
and, acting on this principle, they have felt that they had
no alternative but to sanction such outlay as was necessary
to attain this object. There had hien a large expenditure
under the head of fetes arising from the cost of extraordi-
nary attractions for temporary purposes, such as for the opera
concerts, flower shows, poultry shows, peace festival, &e. ;
but as on a careful analysis -it is found that all
these have not only repaid the sums expended on them,
but have left a considerable profit, this outlay has been
practicaly beneficial to the company. The arrangements
made with Mr. Gye for the present year are of a nature
considerably more favourably to the company than those
of last season, and as the opera concerts continue to prove
attractive the directors trust that the result will he as sa-
tisfactory as it was last year. The poultry show was rn
experiment which proved highly successful, notwithstand-
ing its novelty and the season of the year at which it took
place, and it is confidently expected that shows of a
similar nature will in future become not only a source of
attraction to the public, but also of revenue to the com-
pany. The directors refer with pleasure to the augmen-
tation in the guess receipts of the company, every branch
of which shows au increade. The total number of visitors
to the palace daring the twelve months has been
1,412,922, against 1,352,113 in the previous twelve months,
and the amount received for admissions, exclusive of sea-
am tickets, is 70,5441. 183., against 61,1111. 12s. 2d. In
the exhibiting department there is also a satisfactory in-
crease in the total amount realised, and by the operation
of economy on the one hand, and increased receipts on the
other, a net profit has been obtained of nearly 6,0001. for
the last year, against very little more than 3,0001. in the
preceding twelve months, while the building is now more
occupied both in the selling and non-selling departments,
than at any former period since the opening. Arrange-
ments have been entered into with' various p trties, which
the directors hope wili further iecrease this branch of re-
venue during the current twelve months. The disadvan-
tage under which the undertaking has hitherto la-
boured from the insufficiency of cheap and rapid means
of transit between the palace and the west-end
of the metropolis and other populous districts, will in a
comparatively short time be removed. The opening of the
West-end line; although only to Wan isworth Common,
has already had no inconsiderable effect in increasing the
number of visitors to the pllaee. The directors are assured
this line will b 3 opened through to Battersea by the end
of the year. They are also informed that the Mid-Kent line
will by the same period have formed a junction with the
populous districts to the eastward, thus brining Green-
wich, Woolwich, and all the suburbs in that Urection into
immediate contact with the Palace. It is also hoped that
the junction may be shortly formed with the Smith-
Western line, and through that line with the North-
Western and Great Western Rail ways, so that excursions
from the north, south, and west of England may be con-
veyed to the Palace without change of carr'age. ' When
all this is completed the great practical difficulty of ac-
cess to the Palace from London will be to a great extent
obviated ; and as every year must add materially to
this accommodation the directors look forward with
confidence to the undertaking being placed on a secure self-
supporting basis. All liabilities under the head of " Ca-
pitA Account " are now discharged, with the exception of
the balance due for purchase of land and the liability in
respect of Dulwich Wood; and it will be seen that there
has been no material excess over the estimates given by
the shareholders' committee and in the directors' report to
the last meeting. This account may therefore be consi-
dered as practically closed, except in so far as it may be
`effected by the frauds committed by Robson. It should be
remarked, however, that several considerable amounts for
the completion of works to the building and park, in-
curre during the last year, have been charged to revenue,
which might strictly have been charged to capital; but it
has been the desire of th© directors, actingon the expressed
opinion of the shareholders, to treat the capital account as
chew, even at the expense of making the revenue account
for the past year look less favourable than it otherwise
would have done. _ _ .

in regard to the Robson frauds, tha directors go on to
say that the total amount of cash abstracted by itoMon,
together with the expenses incurred in his apprehension
and conviction, and in the subsequent investigation by
Messrs. Quitter, Ball, and Co., amounts to about 4,0001.
against' which a sum of at least 1,0014 will be recoverable
from his estate. The bal Luce of 8,0001. the directors pro-
pose should be written off at once to the debit of revenue,
thus leaving the capital account to bear only the amount of
shares actually created by Robson. From the final report
of Messrs. Quitter, Ball, and Co., on their investigation
into the extent and nature of these frauds—an elaborate
docurdent, which iS in the hands of the directors—the total
amount of shares fraudulently issued appears to have boen
3,446 ordinary shares at 5/ , representing 17,2301,. and
2,161 preference shay es, representing 10,7931., thus showing
in the aggregate an increase of only 137/ on the sum named
in the preliminary report of Messrs. Quilter, Ball, and. Co.
The mode in which Robson perpetrated these frauds has
had the effect of already adding to the ordinary
an a preference share capital the respective amounts
above stated, and which could not now be disposed o', ex-
cept by buying back the shares, and cancelling the over-
issue, au operation far which the directors have neither
the means nor the requisite powers. Under these circum-
stances there appears to be no alternative but to leave those
amounts to stand against the capital.
DULWICH WOOD.-- The directors are glad to announce

that all technical difficulties with regard to the sub-letting
of the Dulwich Wood property are at last removed, and
they hope soon to be able to announce such arrangements
as may cause this property to cease being a burthen on the
finances of the company, and at the same time become an
attraction and accommodation to visitors to the Palace.
The CHAIRMAN said he regretted the depressed state of
their dividends, but he felt sure they would turn the
corner yet. (Hear, hear ) He held himself 2,000
shares, and had never sold one out. The directors had
ascertained that musical entertainments, on a large
scale, must, after all, be the source to which they must
ultimately look for remuneration. The Handel Festi-
val confirmed this ; it had proved very successful in a
commercial way. He would move that the report be
adopted.
Mr. SLACK complained that the expenditure on
music, pictures, &c., had been far too heavy, involving
what he considered an unnecessary outlay in one instance,
affecting the dividends to the extent of 15,0001.
Mr. MAIMS said he hoped the meeting would be ad-
journed.
A resolution was moved by Mr. PUNCHARD to the
effect that a Committee of seven shareholders be ap•
pointed to confer with the directors on the accounts
of the company ; that a list of names, salaries, and
duties of each officer be published annually ; that
all commissions to the company's servants be abolished;
and that the meeting be adjourned for fourteen days.
The CHAIRMAN amended the resolution by adding
that the postponement extend to the 30th July.
Some further discussion of a "lively" character then
took place, when the amendment for postponing the
meeting, and appointing a committee was agreed to.
Altogether the meeting was about as disorderly and
irregular as could well be imagined.

LAW INTELLIGENCE.—(This Day.)
COURT OF BANKRUPTCY.
(Before Mr. Commissioner Evans.)
IN BE BO=SON.—THIS CRYSTAL PALACE FRAUDS.
A meeting was held this day under the estate of this
bankrupt, to investigate the accounts between the bank-
rupt and Mr. E. T. Smith.
Mr. Smith now attended and produced sundry
♦ouchers which were not in his possession at the last
xaunnatiou.
Mr. Monk, the solicitor to the assignees, compared
the vouchers with the accounts, and said he was per-
fectly satisfied as to their accuracy.
Mr. Johnson, the official assignee, said that he had
checked the accounts. He Expressed his regret that the
il:ness of Mr. Smith had prevented the documents being
produced before, as they would have perfectly cleared up
any doubts, and Mr. Smith need not have been troubled.
There was a small balance against Mr. Smith, who would
give his cheque at once for toe amount.
The case only occupied a few minutes.
(Before Mr. Commissioner Foublanque.)
IN RE CAMERON.—PALMERSTON SAUCE.
To-day was appointed for the last examination of this
bankrupt, who had carried on business as an Export
0,1 Merchant, in Camomile-street, and is the inventor
of the celebrated "Palmerston Sauce," the sale of which
is said to considerably increase the amount of the divi-
dend. The debts are about 2,0001., and present assets
about 7001.
Mr.Bachanan appeared for the bankrupt who passed
without opposition.

POLICE INTELLIGENCE.— (This Day.

SOUTHWARK.

EXTRAORDINARY CHARON OF FRLONT • AGAINST A
CLERIC OF A PARISH OFFICIAL.—John Newman, a very
respectable-looking young man, of good connexions, and
who holds a situation as clerk to one of the leading
parish officials of St. George's, Southwark, was placed
in the dock, charged with stealing a silver watch from
the person of Thomas Seymour, under very extraordi-
nary circumstances.
Mr. Solomon appeared for the accused.
The prosecutor, a brick and tile-maker, stated that on
Sunday night, about 9 o'clock, he arrived at the London-
bridge Terminus with some friends, and proceeded with
them to the Londoti-bridge Tavern opposite, to partake
of son.e refreshments. While there he saw that his
watch was perfectly safe in his waistcoat pocket, and a
guard chain attached round his neck. Suddenly he felt
a tug at his watch, and en looking down he saw his
Ichain hanging loosely down, and his watch was gone.
There were several persons near him at the time, and a