The Sun.
London, England, 1850-01-09 00:00:00

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N°•, 876.] LONDON WFDNESDAY
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4 N 4.
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JANUARY 9, 1850,
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PUBLICATIONS.

RAILWA Y INTELLIGENCE.

upon without doubt and suspicion, so he looked upon
this with special doubt.—(Hear, hear.) It became
them, therefore, to consider whether they were legally
or morally bound to go on with this purchase. It
was first entered into in 1845, when they were asked,
as they were still asked, to give 2501. for every 1001.
share in that line. Yet in July, 1845, these 1001.
shares were sold in the market from 1371. to 1471. ;
in July, 1844, they brought. 85/ ; in July, 1843,
they brought 65/ ; while in January of the same
year they did not bring 601. He could not help
thinking, therefore, that some deception had been
practised here. It was another suspicious circum-
stance that the shares of this company rose from a
large discount to a considerable premium a short time
before the purchase, that was to say, in June, 1845.
He should like to have a committee to investigate the
circumstances under which this rise had taken place.
(Hear, hear.) The committee of investigation stated,
in one of their reports, that the question of the pur-
chase had been submitted to eminent counsel, who
gave their opinion that its legality admitted of serious
doubts, and he did think that the directors or the com-
mittee of investigation ought to remove the doubts
they themselves started before the purchase was ra-
tified. He moved, as an amendment, that the con-
sideration of the purchase of this line be postponed
till next half-yearly meeting, and that in the mean-
time the directors be instructed to take the opinion of
eminent counsel as to the legality of the agreement.
Mr. Reran' seconded the amendment.
CHATTOR said he was not a shareholder of the
Great North of England Company, but he was not
prepared to repudiate the agreement. At the same
time he must agree with Mr. Wylie that the committee
of investigation did not probe this matter to the bottom,
as they had done other questions. He also complained
of the short notice which had been given of this meet.
ing, which looked as if the shareholders were to be
surprised into the agreement.
Mr. STACK, of Durham, also held, from the terms of
the notice, that they were at liberty to discuss the
whole question ab mitre. He agreed with Mr. Wylie
that the shareholders in the Great North- of England
should separate themselves from the rest of the meeting
—(Cheers)—that they might see who were interested
in the question, and who were unbiassed.—(Loud
cheers.) For his part he was prepared to vote with
Mr. Wylie, not that he wished at once to repudiate the
contract, but that he thought it ought to be postponed
till the whole matter was sifted to the bottom. He
highly approved of the conduct of their late committee
of investigation, but he must add that they had not
made this matter so clear to their understandings as
they had made other parts of the great Hudson frauds
—for frauds they were—a stain and a blot on the
commercial men of England. He was the more
surprised at their smothering this matter, as it was
matter of notoriety that their late directors, on the
very evening when they knew a committee was to
be appointed, ran, rashly at least, if not dishonestly,
and put the seal of the company to this transaction.—
(Cheers.) This showed that there was fraud in the
contract, and he, for one, therefore, would insist that
all further proceedings be stopped till the matter was
investigated to the bottom.
The CHAIRMAN defended the directors in the call-
ing of the meeting. Mr. Wylie ought to have made
the remarks he did now on the 23d of August
last, when the subject was before the shareholders,
and not to have allowed the directors to go on with
the negotiations in the idea that the company had
assented to the principle of the purchase. He denied
that any doubt or mystery had been left by the
committee of investigation on the subject of the Great
North of England purchase, for every part of the
operation was detailed with a particularity and mi-
nuteness which did not belong to any other part of
the report. The question was again brought before
the shareholders on the 23d October, and again Mr.
Wylie might have come forward, but he did not.
There was no further information now to be obtained.
He could assure the meeting that the directors most
earnestly deprecated any further delay—(Great
cheering)—for so long as it was delayed so long
would the interests and the reputation of this company
suffer He could assure them that, having been in
London lately and conversed with commercial men,
he knew the injury this company suffered by hanging
up this question. Suppose the question were hung
up till February, by that time the Bill ought to be
making way through Parliament; and though he
would not go into the question, he could assure them
that it was highly for their interests financially that
this Bill should he passed, and the question settled
with as little delay as possible.
In answer to a shareholder, the CHAIRMAN said
that gentlemen holding shares in this company, and
also in the Great North of England Company, had
a legal right to vote, but he would put it to them as
a matter of good taste whether they should exercise
that right.
The amendment was then put, and negatived by a
large majority.
Mr. kVTLIE here explained that the reason why he
did not bring forward the question at an earlier pe-
riod was, that the committee had stated that the
matter was involved in legal doubts.
The CHAIRMAN said he was sure the committee's
recommendation to modify the terms of purchase put
an end to all these doubts.
The original resolution was then put, and carried
amidst general applause.
Some discussion then took place on the question of
the preference shareholders. Mr. Maude having put
a question how this arrangement would affect those
shareholders who had paid the calls in full on the six
per cent. preference shares, to which the Chairman
replied that they must rank with the others, and if
the others were new allowed an extension of time for
paying their calls, it must be remembered that those
who had paid their shares in full had been enjoying
ever since a 6 per cent. dividend ; Mr. Chaytor again
raised the question of having a committee appointed
propriety
meeting
to investigate this subject ; hut on the Chairman put-
whether they wished to have
appointing such
meeting, n a
suchacoimityteerey
few
dis-
ctthiunesgsepidtreatpot the noefx tyh a
lf
hands were held up in favour of the proposition, and
the great body of the meeting decided against having
such a discussion.
The CHAIRMAN said he would now come to the
sa
second matter before the meeting. He was aware
that this subject would to some minds present matter
of excitement, and that it would be scarcely, possible
to dis c u stshiet
discussionw ith the
of m
thate
calmness
question
theywhich
ad n distin-
guishedow
disposed of. But yet he would invite their calm and
dispassionate attention to the subject, and to consider
it like men of business, while he briefly laid before
them the circumstances in which Mr. Hudson was
placed in relation to this company. The different
reports of the committee had referred to the
transactions in which Mr. Hudson had been
engaged in the allotment of the Newcastle and
Berwick shares, as well as to a considerable amount of
money which had been improperly taken from the
coffers of this company, and applied to the purchase
of shares in the Sunderland Dock Company. They
also referred to the purchase of iron rails, and to other
matters, and they recommended, in respect to them
all, that the shareholders should take steps to recover
from Mr. Hudson the sums of money he had thus
improperly obtained. The shareholders, accordingly,
passed a resolution, authorizing the directors to take
legal proceedings against Mr. Hudson for the re-
covery of the money. The directors acted upon that
resolution by filing two bills in equity—the one with
reference to the Newcastle and Berwick Original and
Extension Shares, and the other with reference to the
purchase of the Brandling Junction. Another bill
was prepared, and ready to be put upon the file at
the time to which he was about to call their atten-
tion. These bills, as the shareholders might
conceive, were somewhat ponderous doucuments.
They called for answers to a vast number of inter-
rogatories; and Mr. Hudson, or any one else in his
situation, was entitled to a considerable time to put
in answers. No answers had yet been put in to the
bills; but since they had been filed a proposition had
been made to the directors by some friends of Mr.
Hudson, and he thought he might also say friends to
this company—(Hear, hear)—their object being to
put an end to litigation, and to place in the coffers of
this company a portion of the money which had im-
properly been abstracted. He must say, on behalf of
his co-directors, that in the first instanee they received
this proposition with considerable jealousy, and that a
long period elapsed before it appeared to them that
the offers were such as they could consistently bring
before the shareholders for their adoption. Before
bringing forward the terms they were now about to
recommend, they had endeavoured to make themselves
acquainted with all the circumstances, of which they
must necossarily be informed before they could come
to a right judgment. They were precluded by the
terms of the negotiation from bringing these circum-
stances before the shareholders in detail, but he could
assure them that the directors had considered them
maturely and anxiously, and they had taken the.
opinion of counsel—men of eminence—who were en
gaged in the cause, and they cordially concurred with the
directors in the recommendation that this compromite
should be accepted. Ile had with him a document
which contained at great length the terms provision-
ally agreed to by the directors, subject to the appro-
bation of this meeting. He believed that in point of
law it would have been competent for the directors
to have entered into an agreement of this sort without

NOTICE!
Now Ready at all the Libraries,
Ia 3 vols. post Bvo.,
COUNTRY QUARTERS.
A NOVEL.

YORK, NEWCASTLE, AND BERWICK.
COMPROMISE WITH MR. HUDSON.
YORK, TUESDAY.—A special general meeting of
this company was held to-day in the De Grey Rooms,
York, called by the dircCtors, to consider two ques-
tions, both of them vitally affecting the interests of
the company. The first was an arrangement with
the directors of the Great North of England Com-
pany, extending the time for payment of the purchase
money of that line; the second was an agreement or
compromise between the new directors and Mr.
Hudson, by which all legal proceedings taken against
that gentleman were to be abandoned on his paying a
stipulated,sum to the company. The meeting, though
called on a rather short notice, was pretty numerou.ly
attended, though not equal to the crowded meetings
of the same company which were held in the course of
last summer, when the charges against Mr. Hudson
were fresh, and every meeting was expected to reveal
some new defalcation.
At twelve o'clock Mr. Leeman, the new chairman,
entered the room, followed by the other directors.
Mr. Leeman having taken the chair, and the secre-
tary, Mr. Close, having read the advertisement calling
the meeting.,
Tina CHAIRMAN said—Before proceeding to the
more immediate business of the meeting, perhaps they
would indulge him for a moment on this, the first
public opportunity he had of referring to the re-
sponsible and onerous position in which his co-direc-
tors had placed him as their chairman. They were
aware that for the greater part of the past year he
had been professionally engaged as solicitor to the
committee of investigation, which necessarily made
him acquainted with the details and intricacies of
this vast and complicated concern. At the last meet-
ing of the directors they did him the honour to elect
him as one of the directors of the company, and the
other directors had since elected him their chairman,
and he could assure the meeting that he had not
taken upon himself this position without feeling
deeply the obligations thus laid upon him.—(Cheers.)
With these preliminary observations, he would call
their attention to the business for which they had
been convened. That business was twofold—first,
with reference to the present arrangement between
this company and the Great North of England Com-
pany ; . and second, with reference to a pro-
posed compromise of the disputes between
this company and Mr. Hudson. He would
first call their attention to the Great North
of England purchase, and he would now state
to them the precise nature of the question which they
had to discuss. The shareholders were aware that
this company had entered into an arrangement with
the Great North of England to lease their line at a
rent of 140 odd thousand pounds per annum, but also
stipulating for power to purchase the line on the Ist
of July, 1850, for the sum of 3,547,5001., together
with the payment of some debts owing by the Great
North of England, and which were scheduled in the
deed. In the third report of the committee of in-
vestigation they recommended, as a modification of
these terms, that the Great North of England should
postpone their claim on the purchase-money for six
years, this company giving bonds to pay their debt at
the end of that time, and bearing interest in the mean-
time at four per cent., and that the shares which were
created at six per cent. to pay the purchase-money,
should take dividend with the general stock ; and that
the six per cent. guarantee should cease. That re-
commendation was, after some discussion, agreed to
by the shareholders at the first meeting
of the company, and the committee of in-
vestigation accordingly placed themselves in
communication with the directors of the Great
North of England. In the fifth report of the com-
mittee the shareholders were informed of the result
of the negotiation which took place with the direc-
tors of the Great North of England Company.
They made a counter proposition that one-third of
the purchase-money should be paid in July, 1850,
that one-third should be raised by debentures, to be
paid three years afterwards, and that the remainder
should be paid five years after that, bearing interest
meantime at 6f per cent. That proposition was,
on the advice of the committee, rejected by the share-
holders, and the committee again entered into a nego-
tiation with the directors of the Great North of
England line. Those directors appointed a committee
of influential shareholders, of whom Mr. Hubbard,
of the Bank of England, was chairman, to confer
with the committee of investigation, The negotiation
took place at Newcastle, and the result was that an
arrangement was come to, to which he now invited
their attention. He then read the following heads of
agreement :
"Memorandum of articles agreed this 23d day of No-
vember, 1849, between the directors of the Yurk,
Newcastle, and Berwick Railway, and a committee
(consisting of directors and shareholders) appointed
by an extraordinary general meeting of the Great
North of England Railway Company, to arrange
terms for the payment of the sum of 3,547,5001., or
thereabouts, due from the York, Newcastle, and Ber-
wick Railway Company, to the Great North of
England Company, on the Ist of July, 1850, its sub-
stitution for such sum when due on the said Ist day
of July, 1850.
"The said terms of arrangement to_ be subject to the
confirmation of the shareholders of the respective com-
panies.
" Art. I.—That three-tenths of the aforesaid sum, due
to the Great North of England Railway Company, shall
be payable by the delivery of debentures, falling due on
the Ist of July, 1853, and bearing interest at the rate of
four per cent. per annum.
" Art. 2.—That four-tenths of the aforesaid sum shall
be payable by debentures, falling due on the Ist of
January, 1855, bearing interest at the rate of four per
cent. per annum.
" Art. 3.—That three-tenths of the aforesaid sum be
payable by debentures, falling due on the Ist July, 1856,
bearing interest at the rate of four per cent. per annum.
" Art. 4.—The provisions of the preceding articles shall
be embodied in a separate Act of Parliament, to be pro-
moted by the York, Newcastle, and Berwick Railway
Company, and to be approved and assented to by the
Great North of England Railway Company, and the
said Act shall convey to the shareholders of the Great
North of England Railway, in guarantee for the pay-
inent, when due, of the debentures aforementioned, all

submitting it to a general meeting of shareholders ;
but they were not the men to take such a step. He
would now state generally the terms of the agree-
ment, and then the document might be read in extenso
if they wished it.—(Hear.) The indenture bore date
the 7th of January, 1850, between three of the direc-
tors of the company on the one part—Mr. Love, Mr.
INlLLaren, and himself—and Mr. Hudson on the
other. It recited that the York, Newcastle, and
Berwick Company was formed in 1847, hy the amal-
gamation of several companies; that Mr. Hudson
acted Rs chairman of the directors up to 1849 ; that in
May of that year a committee was appointed to
ex amine the accounts, and that they made
several reports, containing allegations that
money had been taken from the coffers of the
company, and applied to the purchase of 2,345
shares in the Sunderland Dock Company ; that other
moneys had been received by Mr. Hudson, produced
by the sale of certain shares and scrip— by the
purchase of iron rails; that Mr. Hudson disputed his
liability to account for these sums, and had not
accounted for them, and that bills in equity had been
filed accordingly. It then went on to say that nego-
tiations wers going into to compromise these matters ;
and that Mr. Hudson, to avoid litigation, but without
admitting his liability,had agreed to settle the matters
on the following terms :—That so soon as a resolution
confirming this deed was passed by a general meeting
of the shareholders, and a release was executed to
him, Mr. Hudson agreed to pay the sum of 50,0001.
in full satisfaction of all claims against him by the
company, except as concerning the 2,365 shares in
the Sunderland Docks. With respect to this latter
question Mr. Hudson undertook to produce a receipt
from the Sunderland Dock Company for the
sum of 15,0001., which, with the 60,0001. already
paid, would be a payment in full for the 3,000
shares this company had consented to take In the
docks, and further to pay the sum of 26,0371 10s. in
respect of 2,345 shares in the docks, which Mr. Hudson
had taken in the name of the committee without their
consent, and paid upon condition of these 2,345 shares
being transferred to him. It then went on to provide
that this company should consent that the bills in
equity should be dismissed on payment of the money.
The substance, therefore, of the agreement was this—
that in respect of all matters for which bills in equity
were to be filed this company should receive the sum
of 50,000/. ; and the 41,000/. which had been paid
out of the funds of this company for 2,345 shares of
the Sunderland Docks was to be refunded to this
company, 15,000/. of it being taken to pay the last
instalment due on the 3,000 shares they had agreed
to take, and that the remaining 26,0391. 10s. be paid
to the company. In the meantime these shares, which
now stood in the name of Mr. Hudson and some of
his friends, were to be transferred to the directors as
security for the payment of the money; and in still
further security the directors were to have placed in
their hands the title-deeds of unencumbered property,
which together with the shares the directors
believed would secure to the company the
payment of the money. Besides these sums
there were other claims of the company on
Mr. Hudson, which were to be paid in full. There
was a note of hand which he owed the company
which was nearly due; there were calls due on
certain shares, all of which were to be paid up; and
the dividends which stood due to Mr. Hudson on a
great number of shares would be given up, and not
claimed; so that the shareholders would perceive the
amount of money now to be received from Mr.
Hudson exceeded the sum of 100,000/. He ought
also to remind the shareholders that during the past
year the labours of the two committees had brought
into the coffers of the company upwards of 90,0001.,
and the sums now to be received would exceed
100,000/. more.—(Hear, hear.) He thought he had
now stated all that was necessary to bring the matter
fairly under their notice, and he repeated that the
subject had occasioned the directors the greatest
anxiety and care ; and as the result of their delibera-
tions they laid before the shareholders this plan as one
which they could conscientiously recommend for their
adoption. He therefore proposed that this indenture
and deed be confirmed, and that the directors be
authorised to take all the necessary steps to carry out
its stipulations.
Mr. Lova seconded the motion.
The CHAIRMAN said he had forgotten to add that
Mr. Hudson was to pay all expenses incurred in the
proceedings.
Mr. IV YLIIII thought it was 'unfair that the share-
holders should be called upon to decide this importent
matter at once, and put it to the chairman whether it
would not be more respectful to all parties to postpone
the question till mat general meeting.
The CnAutssAsr said, without consulting his brother
directors, he would take upon himself to say, that if
that postponement were made, it would jeopardise
the whole proceedings.
Mr. Wrme said he must then denounce this as the
most atrocious proceeding that had ever emanated
from any board of directors.—(Hear, hear.) He
wondered that they should dare to enter into a
compromise with a man whom they had all stigmatised
as the most dishonest man in the country. He had
stated that this matter had occupied much of their
time and attention. And were the shareholders to
have no time for consideration whatever? Why,
what was this but the old system of railway dicta-
tion come back again ?—(Loud cries of "Hear,
hear," from Mr. Ramsay.) It appeared from this
agreement that they were to receive from Mr. Hud-
son the sum of 50,000/. on behalf of all the subjects,
hut the Sunderland Dock Company. Why all the
subjects were not enumerated. He believed that in
the case of the Newcastle and Berwick Company
alone, Mr. Hudson had carried off about 140,0001. of
ill gotten gain, and be remembered,f when summing
them up some time ago, he made the whole money of
which they had been defrauded something above
200,000/.—(Hear.) He wished to know from the
directors how much they claimed from Mr. Hudson
altogether.
Mr. RAMSAY—Hear, hear—Tell us what we claim
against him.

By the COUNTESS of BLESSINOTON.
With Portrait, and Memoir of her Ladyship, by her Niece,

Miss POWER,

"A Ta'o of light-hearted Irish girls and light-heeled red-coats—
full of ineldent."—Athenaautn.

" This novel is one of the most lively ani life-like of the Author's
productions."—Literary Gazette.
William Shoberl, Publisher, 20, Great Marlborough-street, London.
Orders received by all Booksellers.

THE QUARTERLY REVIEW,
No. CLXXI , i. published This Day.

CONTENTS:
I. Natural History of Man.
11. Clergy Relief Bill.
111. Agriculture—Draining.
IV. Memoirs of Lord Cloncurry and Mr. John O'Connell.
T. Free Trade.
VI. Venice.
VII. Lord Clarendon and the Orango Institution.
John Murray, Albemarle-street.

ARRI AGE with a WIFE'S SISTER.
An elaborate Article on this important subject is contained
[n the current mtnnber of FRASER'S MAGAZINE.

" The Number concludes with a voluminous article upon the sub-
jest of Marriage of a deceased Wife's Sister, in which the History of
the Law is trace l, the Evidence in the Report of the Commissioners
reviewed, and the several objections—Scriptural; Ecclesiastical, and
Social, which have been taken against such Marriages —are severally
analyzed. The Paper :s a full summary of the whole question at
issue."—Morninl Chronicle.
London: John W. Parker, West Strand.

-The CHAIRMAN said they did not know the exact
sum. Mr. Wylie called upon him to explain how
much he received, but he had not yet put in his
answers.

the security which the property of the York, Newcastle,
and Berwick Railway Company can, as on this day, be
made to confer, after allowing for the borrowing powers
of the York, Newcastle, and Berwick Railway Company
on the present line, to the extent of 1,300,0001., inclusive
of their existing debentures.
" Geo. LEEMAN, Chairman of the York, Newcastle,
and Berwick Railway Company.
" J. G. HUBBARD, Chairman of the Committee of
the Great North of England Railway
Company."
The difference between that and the first proposition
was—that instead of the whole sum being paid in
July, 1850, with no interim payments, the committee
of the Great North of England urged upon them the
justice of their receiving payment to some amount in
July, 1850. The directors having maturely consi
dered the position of this company, and the state
of its financial affairs, could not recommend the
shareholders to agree to such a proposition. A mo-
dification was, therefore, come to, which was in sub-
stance this—that instead of the shareholders paying
the whole sum at the end of six years, three-tenths
should be paid at the expiration of three years from
1850; the next four-tenths in eighteen months after
that, or 4f years after 1850; and the remaining
three tenths eighteen months after that again ; thus
throwing the entire payment over six years, but
making the first instalment due in three. This was
the arrangement; and he spoke the unanimous
opinion of his brother directors, when he strongly
urged the meeting to accept it.—(Hear, hear.) He
would only add that a Bill had been lodged in the
Parliamentary-office, and every step had been taken
to give effect to the negotiation if the shareholders
should sanction it. He concluded by moving a reso-
lution adopting the agreement which he had read.
Mr. CHAYTOR (of Darlington) asked if this re-
solution embraced the position of the purchase shares.
The CHAIRMAN said it did not alter or affect in
any way the position of the purchase shares.
Mr. CHAYTOR asked if there could be any objection
to bit now moving the appointment of a committee
to inquire into the position of these preference
shares ?

Mr. WYLIE—Then you compound for an uncer-
tain by taking a certain sum. He thought this was
almost compounding a felony.
Mr. RamsEr—Compounding a felony I Yes, that's
what it is.—(Laughter and cheers.)
Mr. WYLIE was determined to move a special
amendment for a committee of investigation to inquire
into the agreement.
The CHAIRMAN—What 1 a committee of investi-
gation. Are your directors not to have credit for
honesty of purpose ? We have not investigated the
matter, and surely you will give us credit for honesty
and sincerity of purpose.--(Cheers.)
Mr. WYLIE required the chairman's protection,
not his interruption. He thought a committee was
the only course to be adopted, and if be had not been
one of the auditors he would have moved that it be
referred to them. The directors declared that they
were not at liberty to enter into all the particulars of
this compromise. Well, that was just a reason for
its being referred to a special committee.--(Hear,
hear.) He would certainly more that the matter be
postponed to the next meeting, and if the matter were
carried against him, he pledged himself that the mat-
ter should not rest there. He would sign a requisition
for another general meeting to re• consider the matter,
and he was prepared to sign a petition to the House
of Commons for them to investigate the matter, and
praying that, if Mr. Hudson were found guilty, he
might be expelled from the House.
Mr. RAMSEY—Hear, hear, and I'll sign it.
Mr. STACK seconded the amendment. The very
fact that they had squeezed 90,0001. out of such a
hard •fisted fellow as George Hudson, only showed
that, by a little more pressure, they could get a great
deal more. He pathetically put it the Chairman
whether, in this inclement weather, and with such a
small body of shareholders, they ought to decide upon
a question so vitally affecting their interests.
Mr. M'LAUEN said the directors did not claim to
themselves any merit for the money recovered during
the past year, but the Chairman had stated it as a
matter of fact that it was recovered. As to the pro-
posed agreement, though the matter had been so
clearly put by the Chairman, it did not seem to be
quite understood. The substance of it was this—
that 50,0001. was to be paid out and out by Mr.
Hudson, and as he had taken 41,0001. out of the
funds of this company to pay for dock shares, the
agreement was, that 41,0001. should be restored by a
payment in cash of 26,0001. and by a receipt for
15,0001., which he was to produce from the Dock
Commissioners, in payment of the full instalments on
the 3,000 shares which this company had agreed to
take in the docks. With respect to the appointment
of a special committee to consider this matter, he
might state that the effect of Mr. Wylie's suggestion
had. been already met, because the first thing the new
tlirectors did was, to appoint four members of the
committee of investigation and their secretary, now
Chairman of the company, to take all the steps necessary
in the negotiation. Now that committee had been
specially appointed by the shareholders for the purpose
of conducting the investigation, and they had carried
it on up to within these few days. In fiict the nego-
tiation was only brought before the board of directors
last night, when they were not quite completed, but
nearly so; and in point of foot some of the minor

The CHAIRMAN said he apprehended this meeting
was called for a special purpose, and not for the aet-
tlement of any question affecting what he might call
the internal affairs of this company; but, if the meet-
ing wished, the directors bad nu objection to make
the next half•yearly meeting special, to consider the
propriety of appointing a committee.
Mr. Lova seconded the motion put by the
chairman.

Mr. WYLIE said he would not occupy much of
their time, but there were some points to which he
wished to draw their attention. He differed from
the principle on which the agreement was proposed,
and though that principle had been affirmed at former
meetings, he thought the question was still open for
further discussion. He wished to call their atten-
tion to the question whether they would affirm the
purchase or not. He feared it was a hopeless task
to do so, as he saw so many gentlemen present who
were holders of Great North of England shares. As
a matter of delicacy, perhaps, these gentlemen ought
not to vote at all; but he must leave it to them whe-
ther they would or not. The negotiation was one of
Mr. Hudson's ' job schemes, and as there was no one
transaction of that gentleman which he did not look

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details were not arranged till within half an hour of
the meeting, and for some time it was a chance
whether the negotiation would not have gone off.
They would therefore see that the negotiation had not
been an easy matter ; and, further, that it had been
all along in the hands of the parties who originally
started the game, and who had hunted it into its
present position. The offer was now before them to
accept or reject. The directors had no desire but to
do what was best for the interests of the company,
and they would not be hurt personally if the share-
holders were to reject the offer, But, as to a post
ponement, they ought to remember that there were
two parties to a bargain, and one of the conditions of
this contract was that they were to give an immediate
answer. It the meeting should separate without accept-
ing this offer, he thought it would be very doubtful
if it were ever made again. It should be kept in
mind that they were not the only parties who had
claims on Mr. Hudson, and to whom he owed money.
—(Hear, hear) They could get the money to day,
but he was not sure that they could get it next week
or next month, if they chose to take it.—(Hear,
hear.) A good deal had been said about a petition to
interfering
with and about this negotiation
with it. He did not see that there was any inter-
ference whatever. He should like to see such a
petition presented, and he should like to see its prayer
granted.—(Cheers.) He should like to see the House
of Commons purified, and all its unworthy Members
expelled. But if Mr. Hudson owed them money,
were they not to take it because he was expelled the
House of Commons! They had nothing to do with
the House of Commons, which would expel hisn or keep
him in as they pleased.—(Hear, hear.) He entreated
them to come back to the business in hand. If any
one asked him if the sum noW offered was sufficient,
he would say at once--No, by no means—not the
half of what Mr. Hudson ought to pay.—(Hear,
hear.) But if any one asked him how much more
they were likely to get—(Great laughter and ap-
plause)—that quite altered the question. In his
conscience he believed this was as much as they were
ever likely to get ; but if they chose to reject it, it
would not break his heart.—(Loud cheers.)
Mr. CLAYTOR congratulated the meeting on the
large sum they were likely to get. He never
believed they would have got so much; and he
believed, if they rejected this offer, at the end of ten
or twenty years' litigation in chancery they would
get a good deal less money, and have to pay a much
larger sum of expenses.—(Hear, hear.)
Mr. TORRS also strongly urged upon the share-
holders the necessity of settling the matter imme-
diately, and claimed for the directors as much credit
for honesty as Mr. Wylie could.—(Cheers.) The
directors had been working for the shareholders for
the last twelve months, and if the shareholders now
rejected the experiment, he believed it: would be a
great reflection upon theiic labours.—(Cheers.)
Mr. KIPLING reminded the meeting that this was
a purely financial question, and that it did not settle
the moral question at all. It would not prevent the
shareholders, or the public either, from forming their
own opinion upon the moral conduct of the parties
referred to, against whom he had expressed his opinion
as strongly as any man. He (Mr. Kipling) had been
unfavourable to a compromise up to the eleventh hour,
and he only agreed to it now because he felt satisfied
this was the largest amount they ever could get from
Mr. fludson.—(Loud cheers.)
Mr. Alderman MIMIC expressed his opinion that
much of the sums referred to by Mr. Wylie were of
a doubtful character as to their recovery, and he
thought, if they refused a fair offer they would not
benefit their case in a court of law. He thought,
therefore, the shareholders would best subserve their
own interests by accepting the offer, at the same time
that he sympathised with the anxiety of Mr. Wylie
to know a little more of the circumstances.—(Hear.)
Mr. WYLIE rose to reply, and contended, in answer
to Mr. M'Laren, that if Mr. Hudson was willing to
pay the money to day, he would not be unwilling to
pay in three or four weeks, when the half-yearly
meeting was held.
Mr. M'LAaEN said he did' net mean at all to say
that Mr. Hudson would be unwilling to pay the money
a month hence, but that there were other persons who
would be more than willing to take it for themselves.
—(Great laughter and cheers.)
The CHAIRMAN said there was something so com-
plete in Mr. M'Laren's reply, that it would save him
from many remarks, and he did hope that this ob-
servation, coming from a Scotchman, and addressed
to a meeting of Torkshiremen, would not be without
its effect.—(Laughter and cheers.) He then protested
against the insinuations of Mr. Wylie as to the
dictatorial proceedings of himself and his brother
directors. They bad no personal object to serve, and
as Mr. M'Laren had said, it would not break their
hearts if the proposition was rejected or posipot ed.
But if the directors were to agree to Air. Wylie's
suggestion, and postpone the meeting till February,
and then if, when they came to consider the proposi-
tion, they found that the bird was flown, would not
the shareholders blame them for allowing the meeting
to be carried away by such arguments. He would
only state, in conclusion, his firm conviction that if
they did not agree to this proposition to-day they
would never have such an offer again.
The amendment was then put, when two hands
were held up for it. The great body of the meet-
ing then supported the original motion amidst loud
applause.

- In answer to a question from a shareholder,
The CHAIRMAN stated that no managers had yet
been appointed, but that the directors had come to
the resolution of appointing three—one for passen-
ger, one for goods, and one for minerals.
Thanks were then voted to the chairman and di-
rectors, and the meeting separated.

OLD ROTIISCLIILD.—THE PAINS OF AVARICE.—
It was not an unveiled sunshine with this gentleman.
There were periods when bis gigantic capital seemed
likely to be scattered to the four quarters of the globe.
lie had also other sources of apprehension. Threats of
murder were not untrequent. On one occasion he was
waited on by a stranger, who informed him that a plot
had been formed to take his life; that the loans which
ho had made Austria, and his conneXion with Govern-
ments adverse to the liberties of Europe marked him for
assassination ; and that the mode by which he was to
rose his life was arranged. But though Rothschild
smiled outwardly at those and similar threats, they said
who knew him best, that his mind was always troubled by
these remembrances, and that they haunted him at mo-
ments when he would willingly have forgotten them. Oc-
casionally his fears took a ludicrous form. Two tall,
moustachioed men were once shown into his counting-
house. Mr. Rothschild bowed; the visitors bowed; and
their bands wandered first in one pocket and then in
another. To the anxious eye of the .millionnaire, they
assumed the form of persons searching for deadly weapons.
No time seemed allowed for thought; a ledger, without
a moment's warning, was hurled at the intruders; and in
a paroxysm of fear he called for assistance to drive out
two customers, who were only feeling in their pockets
for letters of introduction. There is no doubt that he
dreaded assassination greatly. "You must be a happy
man, Mr. Rothschild," said a gentleman who was sharing
the hospitality of his splendid home, as he glanced at
the superb apartments of the mansion, " Happy—l
happy!" was the reply. " What! happy, when just as
you are going to dine, you have a letter placed in your
hand, saying, 'lf you do not send 50u1. I will blow
your brains out ?' Happy !—I happy!" And the fact
that he frequently slept with loaded pistols by his side is
an indirect evidence of a constant excitement on the
subject.—Characters of the Stock Exchange.
HIGHWAY ROBBERY IN FRANCE.—A most daring
robbery was committed last week, in open day,
by a band of armed men, on the road between
Brignolles and Cuers, near Toulon. The receiver-
general of the department was in the habit of
periodically sending a sum of money to Toulon.
On the 28th ult. this took place as usual. The
money was deposited in a chest, and placed in a cart
drawn by one horse, and escorted by two gendarmes on
foot. The road was very slippery from the ice, and on
ascending a hill a short distance from Roquebaron, the
gendarmes had deposited their carbines on the
cart, and were pushing the wheels on either
side, in order to assist the horse, when a
volley was suddenly fired at them from the wood which
skirted the road. One of the guards fell mortally
wounded, and the other was immediately surrounded by
eight armed men, two of whom attacked him while the
others took the money-"chest from the cart and carried it
into the wood. The carman took to flight at the first
report of the guns. Several shots were afterwards fired
at the other gendarme, but fortunatfly without effect,
and the robbers at length went off, leaving behind_teteheem
a waistcoat, w hick it is hoped may lead ton the detect
tion of the gang. An alarm was given,
termed to scour the country.
emptied of its
hdestpatwroalss
nt i
afterwards found in the wood broken, and The
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contents,mslie
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dressed
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alBm, OsOnOnf.e
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prevent
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i 4 is supposed that they
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from the
reartisans,waanisdtenooattfoiid,
peasants.n
On Monday, the 14'.h inst., the sum of 751 will be
distributed amongst the poor of Chelsea in the following
manner:—To two deserving housekeepers, 301.; to 280
distressed parishioners, one quartern loaf each; to two
of the most deserving children in the parish charity
school, to apprentice them, 28/.; to 40 of the next best
children of the school, 41.; to the clergyman, for exa-
mining the children and pt.( aching to them afterwards,
2/.; to the organist. for playing on the occasion, 1/.105.;
and other minor gifts. The sum thus to be distributed
is the dividend •of 2,500/. given by Mr. Luke Thomas
Flood, an old and respectable magistrate and inhabitant
of Chelsea, to be appropriated in a similar manner on
the lath of January for ever, unless that day happens
to be &adv.