The Sun.
London, England, 1850-08-15 00:00:00

AUG UST 15, 1850.

GREAT CENTRAL GAS COMPANY.
An extraordinary general meeting of the share-
holders of this comp my was yesterday held at the
London Tavern, for the purposa of taking into con-
sideration the propriety of authorising the beard of
directors, under the 4041 section of the company's
deed of incorporation, to borrow a sum of money not
exceeding 25,000/. upon mortgage of the company's
works, mains, and pipes, at a rate of interest not ex-
ceeding 5 per cent. In the absence of the chairman
and deputy-chairman, the chair was taken by Francis
Bennoch,
The CHAIRMAN, in opening the proceedings of the
meeting, stated that the company had now sur-
mounted all its formidable opposition, and that there
was not the smallest doubt but that at the period
fixed by the company they would be able to supply
gas to those persons who had contracted to take it of
them.

The advertisement convening the meeting having
been read,
Mr. CHARLES PEARSON read the report (for which
see our advertising columns). The Hon. Gentleman
then proceeded to congratulate the meeting on the
favourable termination of the battle of the bridges, re-
ferred to in the report. The mode in which that
affair had been terminated was by a freak of a team
of horses, which had most unaccountably to him gal-
loped off with the pipes of the old company to an ad-
joining field.—(Laughter.) The directors of the
City Company hal now,, however, given an assurance
that they should not meet with any further molesta-
tion on their part.—(Hear, bear.) The reason why
the directors were anxious to obtain power to borrow
the sum of 25,0001. was, that their hands were tied
by the deeds of the company. They were prevented
from doing that which other companies were able to
do, viz., giving bills or bonds for the payment of any
expenses which it might be necessary to incur in the
prosecution of their works, and it was therefore neces-
sary that they should have power, should the occur-
rence arise, to borrow some amount of money on the
security of the property of the company. At the
same time, he would state that it was quite
possible that they might never have occasion to exer-
cise that power. If the 1,100 shares referred to in
the report were to be paid up, there would be no ne-
cessity for borrowing at all.—(Hear, hear.) With
respect to those shares which were in arrear, the
directors intended to call upon the holders of them
either to pay up the calls or forfeit the shares ;, if they
adopted, the first alternative there would be no neces-
sity for borrowing, and if they forfeited the shares
they would be divided among the present sharehold-
ers, who would,, of course, have the benefit of the
amount which the present holders had already paid
upon them.—(Hear, hear.) He was happy, also, to
inform the shareholders that the directors had come
to the resolution not to make any further application
for an Act of Parliament. The capital of the com-
pany had been obtained, the pipes and mains of the
company had been nearly all laid down, and they
possessed nearly all the advantages which they could
enjoy under an Act of Parliament.—(Hear, hear.)
The company had entered into agreements with the
Commissioners of Sewers to supply good and cheap
light to the public ; they were determined
to adhere to their agreement; but if the Commis-
sioners of Sewers considered that it was necessary to
'bind them by an Act of Parliament to the discharge
of duties which they were ready and willing to fulfil
under their present agreements, they might easily in-
troduce some provisions to that effect in a public
Bill, which could be passed at a comparatively trifling
expense. Mr. Croll, the engineer, had stated that,
from his present experience of the works, he believed
that the whole of the works would be completed for
a sum considerably less than that which he had origi-
nally stated.—(Hear, hear.) He was heartily glad
to witness the favourable position of a company of
which he was the parent, and should ever continue to
feel, a sincere interest in its welfare and prosperity.—
(The Honourable Gentleman resumed his seat amid
loud cheers.)
Mr. HENRY MLTSSET then moved the adoption of
the report, which, having been seconded, was unani-
mously agreed to.
Mr: 'HALL (of Bishopsgate-street) congratulated
the company upon the cessation of open hostilities
with the rival companies. rhe directors had expe-
rienced great difficulties in the prosecution of their
duties, and trusted that the shareholders would still
continue to repose confidence in the board, and enable
them successfully to complete the work they had un-
dertaken. With respect to tkie money which the di-
rectors proposed to take power to borrow, it was pos-
sible, as Mr. Pearson bad stated, that the directors
might not have occasion to borrow ; but he was con-
fident that the shareholders would most cheerfully
give to the directors the powers which they now
sought. In order to confer that power upon them, he
would with great pleasure move the following resolu-
tion :—That the sum of 25,0001., in one or more
sums, be raised by way of loan, for the purposes of
the company, on the security of the premises upon
which the business of the company is intended to be
carried on, or of any other real estate which may be-
long to the company, and the gas pipes, machinery,
and works thereof; and that upon the effecting of any
and every such security, the particular property to be
comprised therein, and the terms and provisions to be
inserted in the deed or deeds, instrument or instru-
ments, upon the security of which the sum or sums
borrowed shall be raised; and all other matters in re
lation thereto, shall be fixed and determined by the
board of directors."

Mr. LARRY felt great pleasure in seconding the
motion, and in granting to the directors the powers
which they sought, as by so doing they would show
the confidence which the shareholders reposed in the
directors, and would also show to -their enemies the
good feeling which sabsisted between the shareholders
and directors.—(Hear, hear.) He had heard it stated
that an officer of the City Gas Company had said that
the company with which he was connected had a ca-
pital in hand of 600,0001., and that they were deter-
mined to use it for the purpose of crushing the new
company. He was anxious to know whether there
was any truth in such a statement with respect to the
capital of the company, as, if it were true, it could not
fail of doing good to the new company, inasmuch as
it would show the gas consumers of London the ex-
orbitant prices which they have hitherto paid for their
gas.—(Hear, hear.) It was the bounden duty of
every shareholder, and of every gas consumer, to
rally round the directors, and to give them every
possible support in their power, and he felt confi-
dent that their success would ultimately be most tri-
umphant.— (Cheers).
Mr. PEARSON stated, in answer to what had been
said respecting the capital of the City Gas Company,
that upon its formation the capital of the company
was 40,0001., that with that sum the company erected
its works and laid down pipes from Temple- bar to
St. Paul's, by the Post-office, and to a part of Clerk-
enwell. Some time after its formation the company
applied for power to increase its capital to 200,000!.,
for the purpose of enlarging its works and extending
its pipes into Westminster and Southwark. In 1825
the secretary to the company stated, in his examina-
tion before a Con-unit•ee of the House of Commons,
when opposing the Oil Gas Company, that the capital
of the company was 141,2001. That he (Mr. Pearson)
believed to be the whole amount of capital raised by
that company. Upon that sum they paid a dividend,
not of 10 per cent., but of 101. per share of 701. or
801., with bonuses about every three years of some-
thing like 22 -per cent. Some idea might, therefore,
be formed of the profits made by the company out of
the gas consumers of London. Another test of the
profits of the company was to be found in the price
at which the shares sold in the market; shares
with 701. paid up having been sold some time since
for 300/.—(Hear, hear.) It was perfectly idle for
the old company to threaten to enter into competition
with the new one, for if they were to steal the gas—
(A laugh)—they would soon drive them out of the
field. The land upon -which the works of this com-
pany were erected was freehold, while the old com-
pany had to pay 2,000/. a year rent for their premises.
Their manufacturing works were superannuated, their
, pipes were defective, leaky, old, and paralytic—
(Laughter)—their capital of 600,0001. was an idle
boast, and any attempt on their part to enter into
competition would only hasten their ruin.—(Hear.)
Mr. Croll had also informed the directors that the
number of services, already laid down by the company
considerably exceeded the numher of those which had
originally agreed to take the gas from the company ;
and he felt confident that, by the end of the next
year, they would be able to supply the gas at 3s. 4d.
instead of 4s. per thousand, as was originally in-
tended. So confident was the engineer of the com-
plete success of the company, that he had offered, if
it did not pay five per cent. by Christmas, 1851, to
give up one-half of his commission, and if it did not
pay ten per cent. in 1852, he would give up the entire
of it.—(Cheers.)
The resolution was then unanimously agreed to.

At the request of a Shareholder,
Mr. WIRE read the 97th clause of the deed of the
company, limiting the p'►wers of the directors, and
prohibiting them from issuing any bills of exchange
or binds on the company's account.
A SHAREHOLDER wished to know when the com-
pany would be prepared to supply the gas ?
The CHAIRMAN stated there was no doubt what-
ever but that they would be ready to supply the ;me-
lic by the period originally stipulated, the 29th of
September. The pipes of the company had been laid
down in a less period than had been anticipated, the
works at Bow were nearly completed, and he be-
lieved that they would be ready even a fortnight before
the time he had mentioned.

Mr. VENABLES stated that to a man the gas con-
sumers of Newgate Market, although not all share-
holders, had determined to support the new company,
and were resolved, even if the old company should
lower its prices to ls. 6d. or 25., that they would still
It el bound to the new company.
Mr. WALTON then moved, " That this meeting de-
si: es to express ita cordial and unfeigned confidence in

the directors, and to offer its hearty thanks to them
and to Mr. Pearson, the la.e chairman, for his un•
wearied exertions in procuring cheap and good gas
fur the eitiz,ns." _

Mr. VENABLES seconded it, and the motion was
carried unanim,,usly and with loud cheers.
The CHAIRMAN returned thanks on behalf of him-
self and brother directors, and the meeting broke up.

CONFLAGRATION at GRAVESEND.
OFFICIAL INQUIRY INFO TIIE CAUSE.
GRAVESEND, WEDNESDAY NIGHT.—This day an
inquiry of some hours' duration was held at the
Town-hall, for the purpose of ascertaining how the
fire originated which destroyed such a vast amount of
property in High-street on Sunday morning last.
The following magistrates conducted the investiga-
tion—namely, Mr. Plane, the Mayor, and Messrs.
Oakes, Spencer, Ridge, Tickner, Troughton, and
Ditchboui ne.

James Partlett said that on Sund3y morning last,
about two or three minutes before two o'clock, he
was on the pier. when his attention was directed to a
strong smsll of fire. lie immediately went into the
High-street, and, upon getting near the White Hart,
he saw a great quantity of smoke in Church alley,
which was of such a dense character that he thought
it impossible for any one to pass through. He in-
stantly went and told Sergeant Penman that he
thought the High-street was on fire. He (witness)
returned again, and found shout 20 or 30 persons
congregated in the street. He then threw some
large stones up to the windows, for the purpose of
arousing the inmates. A man, then unknown to
him, knocked in the panel of Mr. Adlington's door,
when smoke came out in a great body.

By Mr. Oases—When the panel was knocked in
he did not see any one come out by the front, and he
knew nothing of the construction of the back part of
the premises. He saw no indication of a fire burning
in Mr. Adlington's premises when the door was
forced in, neither could any glare be seen from the
windows.

Mr. J. Adlington,.of No. 65, High-street, grocer,
said that on Sunday morning last he was awoke by
a cry of fire in the street. He jumped out of bed,
and pulled the bells in order to awake the other in-
mates of the house. When he got up he saw no
fire in his own house, but on opening his sitting room
door he smelt it very strong. He ran to his counting.
house, on reaching which he found that the key was
in his trousers pockets upstairs. He went back to
his bed-room, and having secured his trousers, he
ran with them to the counting house, when on open-
ing the door he found a cupboard in flames. It looked
like a flare of gas, bat he was quite sure it was not,
as he had turned off all the gas from his house the
previous night.
Mr. OAKEs—What were the articles contained in
that cupboard; was there anything at all inflamma-
ble? Witness—Nothing combustible unless a light
was applied to them. There were plate, glass, cocoa,
and spirits in the place.
The BENCH—Had any one been to that place with
a light? Witness—No one, he was sure, had been
to the cupboard with a light. He went to bed about
half-paat twelve o'clock. He should say there was no
fire in Church-alley for half an hour after he was
alarmed. The cupboard was not next to the alley,
but on the north side. _ _

The MATOR—Wbat is your opinion as to the place
where the fire began, and its cause? Witness said
his impression was that the fire broke out in the next
house and burned through into his. If water could
have been procured at the commencement of the fire,
he had no doubt that it would have been soon ex
tinguished. The next house belongs to Mr. Reed,
the tobacconist. He saw that person when he came
down. He was knocking at his door. The day after
the fire witness saw that there had been a flue near
the cupboard, belonging to Mr. Reed. There was a
thin partition of brickwork between the two houses.
Mr. Oldness proved being present at the fire and
forcing the panel of Mr. Adl►ngton's shop door, but
he could not then see any fire there. He had pre.
viously been to the back of the premises and had
forced the door. He did not see Mr. Adlington or
Mr. Reed then.

Mr. M. Reed, tobacconist, of No. 66, High-street,
said that he went to bed about half-past twelve o'clock
on Sunday morning, and was awoke by the cry of
are. He then smelt something burning. He got up,
pulled the bell, and on opening his bedroom door saw
smoke on the stairs. lie had by that time aroused
his wife, and taken his child and a few clothes on his
arm. When he got to the back, he found Mr. Ad-
lington and his family at the door. They were all
naked. Mr. Adlington was putting on his trousers
at that time. After being at the back of the house
he returned and went up stairs, and pulled a Mr.
Hawes out of his room. After that he saw flames
coming out of Mr. Adlington's back windows.
Mr. Adlington said that must be a mistake, as there
were windows only to the kitchen.
The witness Reed said, then they must have come
from the back door.

Mr. Actlington said that he had seen a man who
would come forward, and he h:id told him that he
saw fire coming from Mr. Reed's premises before it
came from his.
Mr. OAKES—Where is that stove situate that we
have heard of ? The witness Reed—lt is near the
back, premises, on the basement floor. No fire had
been lit in it ; indeed, it is not yet finished.
Mr. OAKES—Who built it? Witness—l don't
exactly know. It was a man who I think used to
work for a builder in this town.

Mr. Simmonds, a hairdresser, said that at the time
of the fire Mr. Reed told him that he had saved all
his books, papers, and everything else of consequence.
Since then he had heard him say that he had lost
everything.
Mr. Reed said the witness must have made a mis-
take, for he never said anything of the kind.
Mr. Simmonds said that he was quite positive that
Reed, had stated to him what he had just repeated.
Mr. OAKES inquired whether Reed appeared to be
making any effort to get the fire extinguished ?
The witness—No. He was standing with his arms
folded. He first saw fire come from Mr. Adlington's.
If both houses had taken fire simultaneously, there
would have been greater facility for its spreading in
Mr. Adlington's, on account of the draught by open-
ing the shutters.

A maid-servant to Mr. Reed said that she went to
bed on the night of the fire with her flannel petticoat
on. Mr. Reed's sister had two flannel petticoats on,
and also her stockir.gs.
Mr. Reed's sister, in answer to questions from the
Bench, said it was quite true that she wore two flan-
nels and her stockings on the night in question. At
first she said that she was in the habit of going to bed
in that way, even in summer ; after that she said,
when they came to High-street, and finding the
houses built of wood, she apprehended something
would happen, and that was her reason for so doing.
,Mr. Reed, in answer to questions from the Bench,
said that he was insured for 4501 ; he would lose up-
wards of 2001. by the disaster. He was quite sure
that when he came down stairs there was no fire in
his shop. He had occupied the premises about two
years, and had been insured during that period.
Before that time he lived on Windmill hill. He had
a sort of a fire there in his coal-cellar. When he
commenced the flue in his kitchen he gave notice of
it to the Kent Fire-office, and promised to let the
agent know %hen it was completed ; but he had
abandoned it.

The MAYOR said it appeared most extraordinary to
him that Reed should have employed a man he did not
know to build this chimney. To allow a stranger to
go to work amongst such a valuable article as tobacco
looked most extraordinary.

Several other parties having been examined, the
Bench said. that without attaching any criminality to
Mr. Reed, there did appear to have been some want
of caution on his part. The Bench would be glad to
hear any evidence he could produce to prove that the
fire did not break out in his house.

Mr. Reed said he thought it had been plainly shown
that it did not begin in his house, as it was seen so
much sooner in Mr. Adlington's.
The MAYOR—That is explained by the fact of the
shutters having been taken down, allowing the draught
to enter.

The BENCH decided that the present inquiry would
prevent the expense of a coroner's inquest, and the
proceedings terminated, no conclusion being arrived
at as to the origin of the fire.

MONEY MARKET.—The premium on gold at Paris
is 9 per mule, which, at the English Mint price of
3/. 17s. 10d. per ounce for standard gold, gives an ex-
change of 25.37; and the exchange at Paris on London
at short being 25.35, it follows that gold is 0.08 per
cent. dearer in Paris than in London. By advices from
Hamburgh the price of gold is 435 per mark, which,
at the English Mint price of 31. 17s. lOid. per ounce for
standard gold, gives an exchange of 13.10; and the ex-
change at liamburgh on London at short being 13.9,
it follows that gold is 0.46 per cent. dearer in Ham-
burgh than in London. The course of exchange at
New York on London for bills at 60 days' sight is 110
per cent., and the per of exchange between England and
America being 109 23.40 per cent., it follows that the
exchange is nominally 0.42 per cent. in favour of Eng-
land, and after making allowance for difference of
interest and charges of transport, the present rate
leave% a small profit on the importation of gold from the
United States.

EXECUTION.—The execution of Christopher, for the
murder of the bailiff (Hogan), at Eagle-hill, took place at
Ballybricken. The culprit acended the place of execution
(accompanied by the Rev. Messrs. Tracy and Kent, the
sub-sheriff and governor of the gaol, &c.) with a firm step,
and addressed the people in front of the platform. Ile spoke
in the Irish tongue, and stated in effect that he was no
more guilty of the crime for which he was about to suffer
than the reverend gentlemen who attended him. He then
knelt and prayed, stood up again, asked if his brother and
other relatives were there, atd told them to have no malice
or ill-will to his prosecutors. The hangman then adjusted
the rope, put a white cap ever his features, pulled the fatal
bolt, and in a moment Christopher was launched into eter-
nity. A e,.)ldier fAinted du►ing the time.— Into:ford:feu%