The Sun.
London, England, 1868-05-16 00:00:00

RAILWAY REFORM.

An important deputation from the National Conference
of Railway Shareholders, held in Manchester on the 14th
and 15th ultimo, has waited upon the President of the
Board of Trade, for the purpose of urging the adoption of
some of the measures advocated at that conference, and
their incorporation in the railway bills now before Parlia-
ment. The deputation consisted of members, of the
Council of the Railway Shareholders' Association, and
several members of Parliament.

Mr. T. BAILEY, M.P., introduced the deputation. He
referred to the causes which led to the late conference at
Manchester, and the resolutions which were then adopted,
and explained to the Duke of Richmond that the object of
the deputation's visit to his grace was to urge the accep-
tance and adoption of the suggestions embodied in those
resolutions.

Mr. T. WRIGLEY (Bury) urged the desirableness of
separating railway management so that there should be
two boards—one to control capital, and the other to take
charge of revenue. He believed that the adoption of such
a system of management would be a great improvement
on the present state of things, and would be the means of
averting many causes for disappointment and discontent.
Mr. WATxibi, M.P., suggested, as a matter of much
importance, that existing companies should in some way
be relieved of their obligations. His principal reason
for thinking that some such relief should be given
was that there still existed an amount of authorised
but unraised capital exceeding £100,000,000, a great
proportion of which was required for competitive and
unremunera.tive lines. He thought it desirable that rail-
way boards of directors who desired to take powers to
abandon the construction of such lines should have their
hands strengthened by relieving them from the obligations
which at present bind them. He also thought it very de-
sirable that railway shareholders should have more power
to discharge existing boards of directors when they found
such a thing necessary, and of electing others in their
places.
Mr. DARBY GRIFFITH, M.P., drew attention to the

voting by proxy system which prevails at railway
meetings, and urged that, if the system is to be continued,
instead of voting by anticipation, the absent shareholders
should have a right of voting after a general meeting,
when the merits of each side of the question under discus.
sion would be properly known.
Mr. DAw (representing the Western Railway Share-
holders' Association of Exeter) supported the sug-
gestion respecting proxy voting made by Mr. Griffith, and
urged thenecessity of its immediate adoption.
Mr. JOSHUA FIELDEN urged the importance of passing
an enactment which would prevent in future the possi-
bility of railway directors paying interest out of capital,
or, in other words, that no interest should be allowed on
railways during their construction, or until such lines
came into operation and were earning revenue.

Mr. HULSE (Manchester) drew attention to the impor-
tance of having a uniformity of accounts for railway
management, and pointed out what he looked upon as
defects in the system proposed by the Government. He
believed that these defects would be remedied by adopting
the model system of accounts introduced at the Man-
chester conference.

Mr. HENRY RAWSON (Manchester) gave an insight into
the history of the Railway Shareholders' Association,
of which he had been appointed chairman, and par-
ticularly dwelt upon the causes which led to its esta-
blishment, and which induced him to join it. The
growing embarrassments of railway companies had ren-
dered some such action necessary on the part of share-
holders, and the establishment of the association was the
result. To show the importance of the organisation, and
the readiness with which the proposition to establish
the association was taken up, he mentioned that the
first twelve gentlemen who joined the association,
several of whom he saw present, held capital amount-
ing to £3,000,000 of money. The conference at
Manchester was held for the purpose of securing
united action among railway shareholders, and
their ultimate object was to place railway undertakings in
a more satisfactory position before the country. (Hear,
hear.) The feeling of that coiiference,•he might mention,
was not in favour of Government interference in the
management of railway companies, but simply that rail-
way shareholders should have removed from them those
impediments and perpetual embarrassments which pre-
vented them hitherto from being able to adopt such
measures as would restore public confidence in railway
undertakings.
The Duke of RICHMOND, in reply, agreed that the ques-
tion introduced to his notice by the deputation was one of
very great importance, and he assured them that he would
.ee that the matter should receive the earnest considera-
tion of the Board of Trade. One or two of the gentlemen
who had just addressed him made some suggestions. The
details of those suggestions he should be glad to receive
from those gentlemen, and submit them to the considera-
tion of his colleagues.
The deputation then retired.

THE IRISH CIIIIRCJI. —Within the past day or
two appointments have been made to the following
livings : Templeree, worth £156 yearly, without any
church, and inhabited by 9 Anglicans and 493 Roman
Catholics. To this benefice was collated a clergyman wbo
was twenty-six years in holy orders. The second benefice
is Clashmore, with £153 yearly, besides residence, with 27
Anglicans and 2,418 Roman Catholics. The third living
is Guilcagh, with £lOO yearly, besides•residence, and con-
billing 6Q Anglic4n4 spi 992 1391;4414 Qtitholics.

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