The Sun.
London, England, 1850-07-30 00:00:00

LONDON,

TUESDAY EVENING, JULY 3O, 1850.

that the Chairman report progress, ant ask leave to sit
again.—(why? why ?) It was necessary for him to cell
the et:endon of the Houze, to the cuurss pursued by
TI ot. Gentlemen Opposite in a inneter p,rsenal to him-
About three o'clock in the day he had cros.ed over
to tie Ministerial benches and asked the Right, Hen.
Gentleman the Presiclaw of the Board of Trade (Mr.
Labouchere) when he would take the third reading of
the Mercantile Marine Bill? The Right Honourable
Gentlemen informed him at twelve o'clock te-morrow,
when the Right Honourable Baronet the Secretary of
State, who was sitting beside him, sa;J, " You must
mistake—the amendiarenis on the Irish Franchise
Bill are to coma on at twelve o'clock t,-morrow, to
which their consideration is adjourned; you mean twelve
o'clock to-night." To which the President of the
Board of Trade replied, " Yes, I mean twelve
o'clock to-night, and I hope you (Lord J. Manners) will
have no objection to the third rea ling or the Mercantile
Marine Bill being moved after all the other orders." He
replied, "Certa'nly not; and that having an amendment
to move, he would offer no obatructiou to the third read-
ing, whenever it came on." I3oth the Right Hon. Gen-
tlemen seemed perfectly satisfied with that arrangement,
and expressed themselves more or less pleased at the co-
operation he gave to them in proceeding with the Bill.
With that understanding he left the House; and on his
return, found the third reading of the Mercantile Marine
Bill had actually been moved—whether by either of the
Right Hon. Gentlemen he did not know, at half-past
seven o'clock that evening, and had been carried.—([Lear,
hoar.) All he knew was, the engagement entered into
by those Right Honourable Gentlemen, as members of
Government, had not been kept.—(Sir GEORGE GREY—
" There was not the smallest approach to an engage-
ment.")—(Hear, hear.") The Right Hon. Baronet
might say so, but if that sort of quibbling was al-
lowed no engagement would be entered upon between
Hon. Members and the Government. He would ask the
President of the Board of Trade whether, in all the
transactions relating to the Bill, he had not shown the
greatest anxiety to consult his convenience, and whether
he had exhibited the least wish to offer to it a factious
opposition? He had then a right to complain, and he
did complain, of that sort of conduct, and all those ar-
rangements which tended so much to the mutual conve-
niencs of the members of the Government mutt in fu-
ture be disregarded; and it would be the duty of Hon.
Gentlemen on this side of the House to exort every sort
of opposition to Government. and to disregard all state-
ment: of Ministers except those made publicly in their
places. Had it not been for the declaration of the Right
lion. Gentleman, he (Lord J. Manners) would have
been in his place ready to propose the amendment which
stood in his name on the paper, and ho appealed to the
House whether the Right Hon. Gentleman bad acted on
this occasion in the way in whieh he had acted hitherto,
or if his conduct had been what he (Lord J. Manners)
bad a right to expect.—((lear, hear.)
Mr. LABOUCHERE said be should be very sorry
indeed if any conduct on his part could have rendered
him justly liable to the imputation of having acted in
any way but with tho most scrupulous fidelity in any
engagements ho might have made with any Honour-
able Member. He felt very deeply the important cha-
racter of those engagements, and how much the conve-
nience of the House and the dispatch of business de-
pendel on their being adhered to with the most invio-
lable fidelity. But he hoped, before he eat down, to
remove from the mind of the Noble Lord the false im-
pression under which he seemed to labour. It was
quite true, both as to the Noble Lord and as to other
Members, that he (Mr. Labouchere) had stated, if the
discussion which had occupied the greater part of the day
should be brought to a close at any time before twelve
c'cleck at night, that he should move the third reading
of the Mercantile Marine Bill, for he felt it to be of great
importance that that measure should be sent up to the
other House of Parliament with as little delay as pos-
sible, but he never for a single moment contemplated any-
thing so very extraordinary as letting tle most conve-
nient opportunities peas by and keeping back that or
any other measure till 12 o'clock. Every one knew
that the discussion respecting the Baron de Rothschild
had ended much sooner than was expected, and if the
Noble Lord had been taken by surprise, so also was he
(Mr. Labouchere), for ho was himself not in the House
when the Bill was read a third time, his Noble Friend
at the bead of the Government being the Member who
then to,k charge of it, and by whom it was successfully
ras!.ed through its last stage, at which time the amend-
ment that the Noble Lord had intended to propose was
moved by another Member. Having made this short
statement, he trusted the House would do him the justice
to believe that he never intended to take the Noble Lord
by surprise.
in
rptitahat
Househopede.Hehe n
during theted
ten
anyye rsresohuebe whichadhad
a
could justify an imputation of any unfairness. He was
sorry that any misapprehension should have occurred,
but he begged the House to observe that not only the
Noble Lord, but the lion. Member for Liverpool, was
also absent when the Bill was read a third time. There
could not be a greater mistake than to suppose that he
had ever made any such arrangement as the Noble Lord
had supposed him t i make, for it would be so mani•
festly against the course of order in that House that
the Speaker would have interfered to prevent its being
carried into effect. He should conclude by repeating
an expression of regret that any misapprehension had
arisen, and by,hoping that the House would acquit him
of intending to take any one by surprise.
Lord J. MANNERS said that no doubt the Right
HOD. Gentleman did not mean to take him by surprise,
but he must be permitted to say that the Right Hon.
Gentleman had distinctly told him that he intended to
take the Mercantile Marine Bill at twelve o'clock, after
the other orders of the day were disposed of, and he dis-
tinctly remembered the Home Secretary observing that
they could not proceed with the Bill at twelve o'clock
tomorrow. The Right Hon; Gentleman the President
of the Board of Trade might have meant that he would

proceed with the measure before twelve, but be said that
he should not do so till twelve—he certainly fell into
some mistake, and deceived not only himself but him
(Lord J. Manners).
Sir G. GREY observed, that as he had been appealed
to he felt it due to himself to say, that he entered into
no engagement whatever, but contented himself with ob-
serving that twelve o'clock to-morrow was a time already
occupied. Beyond that he had not opened hia lips, but
he was bound now to state that be certainly understood
his Right Hon. Friend to say that after the debate which
then occupied the attention of the House was concluded
he should move the third reading of the Mercantile Ma-
rine Bill; but certainly no one expected that that debate
would have been so soon over.
Admiral BOWLES stated, that the Right Hon. Gen-
tleman the President of the Board of Trade told him,
not that he would wait till 12 o'clock, but that he would
proceed with the Mercantile Marine Bill, even if no op-
portunity of moving it occurred before 12 o'clock; that,
if necessary, he should go on with it as late as
12 o'clock.
__

Lord J. MANNERS said, that if the Right Hon.
Gentleman bad told that to him he should not have
been taken by surprise, but he never said an) thing of
the sort.

Mr. ANDERSON rose to say that he had spoken to
the Bight Hon. President of the Board of Trade in the
lobby on the subject, when his reply to an inquiry was,
that it would probably be late that night, and, as he in-
tended to second the clause of the Noble Lord, he took
the liberty of moving it in his absence.
The vote was then agreed to.
On the question that a sum of 211,139/, be granted for
excess of naval expenditure,
Sir H. WILLOUGHBY rose to call attention to a
sum of 29,534/. expended upon iron steamers. They did
not derive that sure from any surplus, nor had they ex-
pended it with the consent of the Treasury. Farther,
it was in clear violation of the Appropriation Act. At
the same time he was bound to admit that the Board of
Audit had exercised all fitting vigilance upon the occa-
sion, Upon these grounds he should propose that the
proposed grant be reduced by the sum of 29,5341.
Sir F. BARING explainel the circumstances under
which the payment on account of the iron steamers was
made. The year before last money was taken to pay for
these iron stearners. The estimates cf the expenditure
for the next year were framed in the month of October,
and presented in 1849. But he found that the contracts,
which were expected to terminate before the termination
of the financial year, did not fall within that financial
year, and thereto-0 the payments ran actually a few
weeks beyond the financial year. He made a payment
on account, though not legally comrellable; and he had
stated the excess, on the principle that Parliament
ought to know how it had occurred.

Mr. HENLEY thought the matter was not yet clearly
before the House. The Right Hon. Baronet seemed to
say he had committed the fault of having an excess, but
had shown it to Parliament, and that he might havecar-
ried it to another year, without their knowing anything
of it. There was a third alternative—that of notspend-
ing in excess at all. The statement was not satisfactory
as to how the excess arose. _

Sir F. BARING had stated, in opening the estimates,
the ground of that excess, which occurred before he came
into office. A good deal of it arose from the number of
men being carried beyond the vote, and from the pay of
the men being taken on a wrong calculation.
Mr. HUME did not believe they would get rid of these
excesses until they came to a resolution that the Lords
of the Admiralty should pay the excess themselves.—(A
laugh.) He was quite ready to make the Right Hon.
Baronet pay it himself.
Sir J. GRAIIA &I observed that the excess was not
incurred under the administration of the First Lord of
the Admiralty, and no one more agreed with the position
laid down by the Hon. Member for Montrose than the
First Lord himself, that these excesses were to be care-
fully avoided. It might be confidently anticipated that
under his administration, though it was difficult to know
how excesses could always be avoided,Parliament would
to the utmost see an end put to these grants. There
was one principle to which the Right Hon. Baronet had
not adverted, that when any such unexpected expendi-
ture was incurred, it was most desirable-to have it
brought under the cognizance of the Treasury.
Mr. REYNOLDS complained that, while 700,000
gallons of rum were consumed in the Royal Navy, home-
made spirits were not advertised to be taken under the
contracts, though there was no Parliamentary resolution

I.P'Pheseilmber
to be
giving a preference to rum.
Mr. FRENCH observed, that at the Admiralty the
interests of Ireland were not represented. There was
no Iriah Lord of the Admiralty. Such Via 3 not the case
.s su
for Tyrone (Mr. Corry) was then Secretary for the Ad-
mi notrheealdavteerseAtdowtihneisituratetrienst's wofhlierholawnda

miraliy.
Colonel SIBTHORF wouldvc to with the two Hon.
oipe n
y ina di their
is
ew u
h, i
cpublicthhe he
Hon. :: a
wasp pcil
Gentlemanat opacity than ha
2ed.
u t o
He
Gentlemen who had just spoken in favour of consuming
Irish whisky in the It.yal Navy rather than rum; but he
could not understand how, with their views, they sup-
ported her NI ajesty'a Minn%terfi, of whom no man enter.
didlt eu ai fly- - —uej (t
Aah
theworseb opinionc
.) ia
should remember thatevil communications corrupted
good manners; and, if he remained longer amongst his

inadvisable to call up the remaining 2L (reserved f
the completion of the line into Cambridge) until they
cou'd show to the proprietors some proqwet of a return,
aria have reluctantly resorted to the alteroative, of which
they had give a preliminary intimstion—viz., of ceasing
to carry traffic.
" The directors stow that, in taking this step, they
had a confident belief that consequences so far benefi-
cial would arise es that the Eastern Counties Railway
Company, who must derive a large income from the
passage of the Newmarket Company's traffic over their
hoe, would at last have acquiesced in some arrange-
ment by which, without any sacrifice on their part,
justice might have been done to this company's
line, and the proprietors have seen, immediately
or remotely, some prospect of return for their capital
expended. It is, however, obvious that any such conse-
quence can alone result from union among the New-
market shareholders, and perfect accordance in the
measures adopted by their directors, far so long as the
Eastern Counties Rail ay Company can entertain a
hope that the policy adopted by this board would be re.
versed by the proprietors, or that that policy would not
be steadily persevered in, no offers of a more liberal cha-
racter are likely to be made by them. The directors,
therefore, earnestly recommend the proprietors now to
determine definitively on their future course of action,
and if they see reason to differ from the views of the
present board of directors, or have altered the opinion
expressed by them at the last half-yearly meeting, re-
commend that the services of others, more in unison
with their own, be obtained—your directors desiring only
the general welfare of the company.
"The directors have to add that since the intimation
of ceasing to carry traffic was given by this company
the Eastern Counties Railway Company have made an
equitable proposal to relieve this company from .their
stock of pima, and consequently from the debt claimed
to be due to the Eastern Counties Railway Company;
to this extent, therefore, the position of this company
has been improved by the course pursued; and as very
shortly the Great Northern and Royston and lichen
lines will be opened, and a new (though imperfect) route
from London to Newmarket, and the east of England, be
thereby obtained, your directors are not without hope
that, with union among those interested in the Newmarket
Company's property, means may yet be found to obtain
for the districts proposed to be served the benefits for
which the Newmarket Railway was intended, and is cal-
cnlated to confer."
The balance-sheet showed that there had been re-
ceived on capital account (including 136,3201. 7s. 9d. on
loan), 431,2981.11 x., and the expenditure 427,5821.75. Bd.
leaving a balance in hand of 3,7161. 3s. 4d. There was
also a balance on revenue account. The above two ba-
lances, together with outstanding accounts, amount to
6,5814 7s. 3d., as assets against similar liabilities.
The CHAIRMAN said that Mr. Farm having informed
the directors that it was his intention to propose a reso-
lution relative to the Management of the line, it had been
considered better that the motion should come on as an
amendment on the adoption of the report. He should,
therefore, propose formally the adoption of the report.
Mr. C. FANE beggei to propose that the shareholders
disapproved of the conduct c f the directors in closing
the line without a meeting of the shareholders being
called on the subject. In proposing that, resolution, he
wished by it to express the opinion of the shareholders
on the subject, and pass a direct vote of want of confi-
dence in the direction. He had great pain in bringing
forward that resolution, having been on terms of inti-
macy with many of the directors. They were all aware
that the line had been closed since the 30th of June, and
what they had now to consider wag, the position of the
company while the line was closed as compared to what
it would be if the line wits continued to be worked.
In order to arrive at a conclu'ion upon the subject, he
had entered upon some calculations which he weal
lay betore the proprietors. He contended that whilst
the 1 ne was closed there would be an accumulating loss
chargeable against the shareholders of 5,381/.. whilst, if
worked, there would probably be a net profit to the
shareholders of 2211., per annum, and valuable prospects
for the future. With the line closed there would be no
revenue, but there would be regular outgoings of 5,3811.
per annum.—(Hear, hear.) With the line worked it
was estimated that the revenue would amount to 9,325/.,

and the cutgoiugs (based on the working contract offered
in March List by Mr. Jackson, and on the offer cf the
two largest debenture holders to take 31 per cent. on
their debentures, instead cf 5 per cent., until after the
shareholders had received 1 per cent.) to 7,1071., leaving a
balance of profit cf 221/. He bad based his calculations
on what had been done on their own line in 1848, when
►ha railway was worked by theinselvm He had calcu-
lated that during seven weeks of races, and six weeks
influenced thereby, there would be 3,361/., and that

the remaining thirty-nice weeks would produce 81. 10;.
per mile per week, or s,967l.—ntaktuz a total of
9,328/. lie founded that calculation on the fact that

the average revenue on all the lines opened in England
for the last six months was 471. per mile. As their line
was situated in the eastern counties, perhaps they ought
to see what was done in that district. The Eastern

Counties line produced 511. per mile per week; the
Eastern Union line, 26/. per mile; and the East An- I
glian, which had to contend throughout with a navig-
able river, 121. per mile per week. The Hon. Gentle-
man then went on to show that according to the offer
of Mr. Jackson to work the line for 4,6501., with 45 per
cent, on all traffic above 8,3001. to 11,0001., and adding the
fixed charges to the amount to be received from Mr.
Jackson, supposing the revenue to be what he had stated,
9,3281. it would give them a profit of 2211., Mr. Jackson
and Mr. Wright offering, if it was accepted, to reduce the
interest on their debentures 5 to 3i per cent. He be-
lieved that, properly worked, the line would produce
11,0004 per annum. lie contended that the directors
made a most grievous and ridiculous mistake in making
the line from Newmarket to Cliesterford, on the line to
Thetford, instead of making the line from Newmarket
to Cambridge, which would have brought them into
friendly communication with a much larger 'population;
and the Eastern Counties Railway, being a feeder to the
latter company, that line would have placed
them in connexion with Cambridge; and by an
extension from the further end they would have
been ultimately placed in connexion with Bury St.
Edmund's, Ipswich, Norwich, &c., containing to-
gether a population of 235,000. He had no doubt that
those lines would ultimately be made by some one, and
what he wanted was, that they should not throw away
the certainty of making even 2211. in the meantime. He
considered that the directors had from the commence-
ment made a series of mistakes, by which they had
ruined the property.—(Hear.) In 1846 the Eastern
Counties offered them 5 per cent. on their outlay, and
contingent advantages; but they split upon a difference
as to whether the Eastern Counties shares, in taking
their proportion of the dividend, should be calculated at
161 or 20/.—(llear.) He might be told that the share-
holders had sanctioned the proceedings of the directors;
but he contended that the directors ought to act on their
own responsibility in completing such affairs.—(Cheers.)
He also complained of the directors having ordered
too much stock; of having, after the mania had com-
menced, curvejed a new line to Royston, at a time
when only one party could be obtained to sign the
subscription deed ; and also of the directors hav-
ing allowed a number of lawsuits to go on, which
he no sooner took in hand than he was enabled to
see the plaintiffs and obtain a settlement.—(Hear.) Then
there had been two other occasions when there was a
chance of coming to a favourable conclusion with the
Eastera Counties Company, viz., on the Norfolk Amal-
gamation Bill being before Parliament, but the directors
asked so much that the practical result was, that they
got nothing--(Bear, hear)—and in the spring of this
year, when the Eastern Counties Company were fright-
ened lest the Shepreth Extension, projected by Mx.
Jackson, should be carried, the directors of this company
had refused to originate any negotiations with the Eas-
tern Counties Company.—(Hear, hear.) He complained
that Mr. Jackson had been most unfairly used. The
substance of terms having been agreed to, the directors
had endeavoured to introduce further terms into the deed,
of a most extraordinary nature, which he could not ac-
cent, as Mr. Jackson and Mr. Wright would be thereby
called upon to pay all manner of expenses, and lose all
advantage to be obtained from the contract.—(!Tear.)
It was in consequence of the treatment of Mr. Jackson
that he (Mr. Fane) had resigned the direction, and he
called upon the shareholders to support his resolution as
a distinct vote of want of confidence in the beard.
At the sug,gostion of Mr. MOXHAY,
Mr. FANE asked Mr. Jackson whether ho had not in
March lust, offered to work the line on the terms stated

by him; and if offered, whether Le was prepared still to
enter into that contract with a new board ?

Mr. JACKSON replied in the affirmative with regard to
the first question, but declined to answer the second.
In reply to Mr. SHEPHERD,
Mr. JACKSON stated that there had been no difference
of opinion as to the terms of contract, but there had
been a difference on the deed for currying it out.
Mr. ALEXANDER seconded the amendment.
The CHAIRMAN said that, as the motion was brought
forward as a direct vote of want of confidence in the
di-
rectioa, he would beg to call the attention of the pro-
prietors to what was the constitution of the board.
There were olily himself and two other members of
the board who could be inculpated by the greater por-
tion of what had been said by Mr. Face, the remainder
of the directors having been recently appointed by the
shareholders themselves.
Some conversation here took place, which resulted in
its being understood that the ouly subjects to be entered
int,) were the closing of the line and the declining of
Mr. JAekson's contract.
The Cuainistasr stated that the directors were still
willing to sign a contract with Mr. Jackson, but he did
not think it would be advantageous to the shareholders
that he should enter into minute details to show why
they had not done so—the conditions complained of
having been added to the contract to ensure its being
fairly carried out, under legal advice. At the same time,
he might state that there was a contractor ready to take
the working of the line on the terms proposed, with all
the conditions, if Mr. Jackson would not have consented
to reduce his debenture interest from 5 to 3i per cent.
After considerable irregular conversation as to the
way in which the contract was drawn up,
Mr. MoRTIMER (a director) stated that Mr. Fane had
said that the directors had askeJ too much for their line
from the Eastern Counties Company at the time of the
Norfolk amalgamation. Now, having been the party
who had made a provisional agreement with the Eastern
Counties Comfany, he begged to state that the terms
were to be for the shareholders 1 per cent., and the in-
terest reduced on the debentures from 5 to 3 per cent.
The debenture holders declined to do so, and the result
was that the negotiation fe 1 to the ground, Mr. Face
himself saying that, as an individual, be would not con-
sent to it. With regard to the conditions complained of,
as put into the contract, they were only for the purpose
of protecting the shareholders from a contingency which
might arise at the close of four years, by which, without
express conditions to the contrary, Mr. Jackson, as a
debenture holder, might become the sole possessor of
the line. At the same time another contractor would

have leased the line if Mr. Judson would have re-

duced the interest on his debenture debt from 5 to 31 per

cent., but that gentleman would not do so. The contrae or
might, vi•it.hout that condition, have had his plant seized
by the d:-beLture Thererore they saw that if
they closed the line they would be stalijected to n charge
of about 5,0001. rer annum—while, :t they continued it
open, there was only 7,3001. tamed upon it. (it that
sum the Eastern Counties Company charged 6,0004 for
working, and declined to hand them the balance. on the
ground that they had a further claim against them, so
that the debenture debt and other expenses still remained
against the company, without any profit to meet
Some other conversation Laving ensued, in wbiuh It
was stated that the line had been closed iu accordance
with a promise given to the proprietors at the last half.
yearly meeting, and that the whole of the directors were
willing to retire if it was the wish of the proprietors,
Mr. Goktuat, as a large creditor, suggested that all
the creltors should consent to a reduction of the inte-
rest on the debts to 3i per cent., and then leave the
directors to do the best they could with the lino.
Mr. JACKSON contended that under proper management
the line would produce much more than any estimates
that had been laid bi tore them, as, there bins no traffic
either by land or by water uhieh could oppose them,
they could take better tolls than any other line. Had he
bad the working of the line, he should have gone to the
chairman of the Eastern Counties Company, and called
np him to assist in developing the traffic by al ering
the running of the trains, so that parties wishing to
travel on the line might be fairly accommodated at rea-
sonable hours. By the contract he had Oft red be could
have only made a profit by a co-operation with the
Eastern Counties Company, or some other party coming
into the district, which he hoped would be shortly the
case.

On the question being put to a vote, the amend-
ment was carried by a majority of about three to one.
Mr. MORTIMER, having been requested to join the
new dirk ction, that gentleman said most distinctly be
would never join any board to carry Out the policy of
Mr. Fane, or enter into further negotiations with Mr.
Jackson. •

The CHAIRMAN said, that though only a few of the
shareholders were present, the directors would decline
going to a poll; and they now only held office until
they had an opportunity of electing successors, to be
nominated by the proprietors.
After a vote of thanks to the Chairman for the im-
plrtial discharge of his duties in the chair, the meeting
separated.

CAMERON'S STEAM COAL AND SWANSEA
AND LOUGHOR RAILWAY.
The annual meeting of this company was held yester-
day at the office, Moorgate-street ; Mr. Winthrop in
the chair.

The report stated that the directcrs had carried out
the resolutions of the proprietors, which were passed at
former meetings. The directors had succeeded in satis-
fying the pressing claims upon the company, and had
made arrangements for the construction of the railway
from the colliery to a place of shipment, by which they
would obtain a cheap and expeditious transit for their
coals. The line was to cost about 5,0001., to meet which
they had called up the remaining 41. per share in two in-
stalments. Arrangements have also been made with
several landowners and tenants on the line for the use of
the land required for the railway; and a contract had been
entered into on advantageous terms for the cempletion of
the works with a highly respectable contractor, wbo has
engaged to complete tee railway early in October next.
The operations at the colliery are progressing also si-
multaneously with the works on the line ; so that the
directors may be fully prepared to meet the demand fur
coal when the line shall have been opened. These ar-
rangements will enable the company to deliver 60,000
tons of coals per annum for a period of three or four
years, and by means a further operations, the coal
held being very extensive, will enable them to supply
1,000 tons per day if required. On the completion of
tie present works the sweeter' will take immeilate
steps to ship the coals, which are said is be excellent
for steam purposes. A large return from the mines must
entirely depend upon the hearty co-operation of the
shareholders in supplying the requisite funds. The
directors have incurred heavy responsibilities on the
faith of the shareholders paying up the calls and arrears,
and they hope that all strife stud contention amongst the
proprietors will shortly cease. The directors regret that
the solicitor has again disappointed them by not pre-
senting his bill of costs. Tne report with regard to the
Swansea and Loughor Ruile ay states that the powers
of the Act will expire in 1851, and that it may be neces-
sary next session to apply to Parliatnest for an extension
of time in consequence of the improvements at Swansea
harbour, and the advantages likely to result flow a
connexion with the South Wales Railway and the port
of Swansea. The balance-sheet fur the year ending
the 30th of June last showed that 152,5751. had
been received on shares; that 13,3271. was due to sundry
creditors; that 42,5824 was claimed by Mr. W. B. J. P.
Cameron on purchase account, several items of which
were disputed, making 208,4851. On the other aide of
the account appeared cost of mining property 148,0001.,
works 16,8801., and cash 3801. leaving a balance of debit
of profit and loss 43,6351.

Mr. ELDERTON, the solicitor, begged to apologise for
the delay which had occurred in preparing and deliver.
ing his bills of costs. He could assure them that it was
unavoidable. The period over which they extended
was five years, and they had taken a long time to make
them out; the bills were now nearly ready, and would
be delivered in the course of the day.
The CHAIRMAN said, he believed the balance-sheet
contained everything, with the exception of the solici-
tor's account, which they were all so anxious to receive.
It was particularly necessary that the bhareholders
should give the directors their unanimous support to
get the company out of its difficulties and enable them
to make the undertaking productive. The coal existed
in very large quantities, and they bad only to provide a
cheap and rapid mode of transit and shipment to obtain
an immeliato return. They had already orders for a
large quantity when they here in a poattion to supply
the demand.

Mr. GREEN did not consider the balance-sheet perfect
without the solicitor's bills of costs being included.
Mr. STRELLEY, one of the auditors, said, he had en-
deavoured as much as possible to induce the solicitor to
send in his bill, so that it may be included in the present
balance-sheet, but although he had promised to send in
his bill be had not done se.

Mr. ELDERTON said, it was his intention at the time
he promised to send in the bill, but circumstances had
rendered_ it impossible. With regard to the balance-
sheet, be did not think it included all the liabilities.

Messrs. Cooper and Strelley (the auditors) and the
Secretary were perfectly satisfied that everything was
included, with the exception of the solicitor's bills of
costs, which they could not obtain.
Tile CHAIRMAN said, he had no doubt the meeting
would come to the conclusion that the balance•sheet was
so far correct, Lnd concluded by moving, that the report
and accounts be receivt d and adopted.
Mr. GRLEN, in seconding the motion, said, that the
shareholders had every reason to be pleased with the
report.

The resolution was then put and carried unanimously,
when, ♦
Mr. W. B. J. P. CAMERON said he dissented from
the resolution, and would required the votes to be
taken.

The CHAIRMAN said he was extremely sorry that Mr.
Cameron should have expressed his dissent, particularly
when it was considered how hard the directors worked
every day to get the company out of its difficulties, and
to make the undertaking productive. It was very clear
that Colonel Cameron and his family would participate
in the benefit of these exertions, and he was surprised
that Mr. Cameron should have expressed his dissent.—
(§hame.) It' they were to permit him to vote in
respect of the shares he came to represent he would
swamp the votes of the meeting; but they had a
protest against that gentleman's vote, which would
show he had no right to represent a single share of the
company.

ECLIETARY read the protest, which stated that
the shares in question bad been illegally transferred,
and the party who transferred them had no power to do
so; that no money had bEen paid on them; that Mr. W.
B. J. 1. Cameron had no right to claim them, and that
his interests were totally adverse to the interests of the
company. _ _ _

The Meeting. having received the protest,
Mr. SIIIALLIIONE said, there could be no doubt that
Mr. Cameron had no right to vote at the meeting, and
that the resolution was carried unanimously.
The retiring directors, Captain Norcott, R.N., Cap-
tain Erle, and Mr. Barham are re-elected, as wero tie
retiring auditors, Messrs. Cooper and Strelly.
On the motion of Captain NOItCOTT, Mr. Green was
elected an auditor.

A conversation ensued, in the course of which it was
stated that the directors were not only anxious to place
the company in a good position, but to enable the Curae-
ron family to get out of their difficulties, and there
could be no doubt that it was the interest of the vendor
and the shareholders to pull together and assist the di -
rectors to render the undertaking profitable.
The proceedings concluded with a vote cf thanks to
the chairman and directors for their indefatigable exer-
tions in promoting the interests of the company.

COURT CIRCULAR.
OSB 0 R NE, MONDAY.
The Queen and Prince, accompanied by their
illustrious relatives, walked early this morning in Os-
borne Park and grounds.
Their Royal Highnesses the Prince of Wales,
the Princess Royal, and younger branches of the
Royal Family, took their accustomed walks and drives,
Her Royal Highness the Duchess of Gloucester
visited her Royal Highness the Duchess of Cambridge
and her Royal Highness the Hereditary Grand
Duchess of Mecklenburgh-Strelitz, yesterday, at
Cambridge House. The Prince of Oldenburgh paid
a visit to their Royal Highnesses on Sunday.
The Bishop of Montreal had an interview with
Earl Grey yesterday at the Colonial•bffice.
Mr. B. Bond Cabbell had an interview with Sir
George Grey yesterday at the Home-office.
Dispatches were received yesterday at the
Colonial-
office from the Governors of the North American
Provit. c -a.

IRELAND.
MAYO ELECTION.

DunurT, JULY 29.—At the close of the poll on Sa-
:tally evening the numbers stood as follows:
Biggens
Butt..: 94

_ -
Majority for Iliggens ... —46
Thus the cobtetit was virtually over, although the
polling booths would he kept open for this day (Monday).

A few days since a scorpion was found in a saw..
pit in Chatham Dockyard. It was taken out of a piece of
Italian oak, alive, and is of the species of a blackish colour,
described by naturalists as one whose sting caura edd mo
tions of the limbs, and a laughter like Out of fools.