The Sun.
London, England, 1850-02-09 00:00:00

CALEDON lAN
,DRAs. I LWAY.
TO THE SHAREHOTER
An anonymous advertisement appears in this morning's papers,
recommending Mr. Alderman Thompson, Mr. Campbell, of In-
verawe, and Mr. Locke, for election to the Board, in substitution of three
of the Gentlemen proposed by the London Central Committee.
The anonymous advertiser must be ignorant that previously to the
late meeting, Mr. Alderman Thompson and Mr. Campbell, of In-
verawe, were requested by the Committee to permit themselves to
be nominated, but refused such permission ; and that Mr. Alderman
Thompson peremptorily and publicly persisted in this re-
fusal at the meeting, and, by so doing, occasioned a
modification in the Committee's list. As to Mr. Locke,
it is true that the Committee have net contemplated his joining the
Board. His abilities are unquestioned ; but his appointment as
Engineer to the Company (an office in which it may be important
to retain his services) obviously precludes his being at the same time
a Director. His position as arbiter between the Company and the
Contractor, for the maintenance of the permanent way of our line,
also, in your Committee's view, disqualifies him for the Board.
Nor, in considering this question, can the Committee overlook
his connexion with some other Companies, particularly the Scottish
Central, Scottish Midland, Dundee and Perth, and the Greenock
Companies, and the influences to which he is thus naturally exposed.
Our fatal entanglements with these Companies every shareholder is
new deploring, and without attributing them to Mr. Locke, the
Committee stilt think that existing circumstances obviously point to
a reconstruction of our Board, by means of parties wholly independ-
ent of these Companies.
Therefore, of the parties thus anonymously suggested, two have
already declined to serve, and the third seems, under the circum-
stances, not to be very happily suggested.
On the other hand, the names objected to in the list of the Central
Committee include those of the very parties whose abilities, energy,
and perseverance have been already amply tested, and seem more
particularly to challenge the future confidence of the shareholders.
The shareholders are respectfully warned against any insidious
attempts, from whatever quarter proceeding, to get up a factious
opposition to individuals included in the Committee's list. Its general
propriety is unimpeached. Great labour has been encountered, and
difficulties have been overcome in its construction ; a due regard
has been had to the diversity of interests requiring:to be represented,
a circumstance of material importance in the Company's present
position. The Clydesdale shareholders are peculiarly represented by
Messrs. Baird and Johnstone. Mr. McMicking has a preponderating
interest in the preference shares, while the ordinary shareholders, in
the person of Mr. Fawcett, will have their interests protected
by one of the largest holders of this stock. The parties thus
associated are prepared to act harmoniously together. The Com-
mittee pointedly disclaim all idea of dictating to the shareholders ;
but, at the same time, they venture to remind them that:the compro-
mise under which the Directors have resigned having cast upon the
Committee the task of providing for the reconstruction of the Board,
they have conscientiously discharged it to the best of their ability,
and they feel satisfied that the breaking up of the arrangements
which have been provisionally effected, and which now await the
shareholders' ratification, mast occasion serious injury to an parties
interested, whatever may be the pretexts or the motives of those who
instigate the opposition
With these views the Committee leave the subject in the hands of
the shareholders. They remind voters by proxy of the desirableness
of their immediately forwarding written instructions to the Secretary
at the address and to the effect suggested in the Committee's adver-
tisement of the 6th instant, and which will be found afterwards daily
inserted in the " Times." They also remind the very numerous body of
voters resident in London and the neighbourhood, that their personal
attendance at the Meeting, which is to be held at the Freemasons'
Tavern, on TUESDAY next, the 12th instant, at Twelve o'clock, is of
vital Importance, as it is quite uncertain in what manner the Direc-
tors will employ the proxies entrusted to them.
E. PLUNKETT, 8.N., Chairman.
Committee-room, 11, Waterloo-place,
Feb. 9, 1850.
THE NEW
"THE