The Sun.
London, England, 1850-08-02 00:00:00

MIDLAND RAILWAY.

Oa Wednesday a special meeting of proprietors of this
company resident in Liverpool wai held at the Clarendon
Rooms in that town, in reference to the proposition
(ror the conversion of the 501. shares) agreed to at the
general meeting at Derby. About thirty gentlemen
were prestait.
Mr. J. IL BxANCKER was called to the chair. He
stated that the object of the meeting was to organize
an opposition to the measure which the directors had
carried at the late meeting, and which was so adverse
to the wishes and interests of a large minority. The di-
rectors, to carry out the plan, would bare to bring a Bill
into Parliament, but he felt satisfied that if duly suet so
inequitable a measure would never pass the Legislature;
but, if necessary, those who dissected must be pre-
pared to carry their opposition even to the House of
Lords.—(Applause.) It appeared, he said, that the
directors had adopted the objectionable change pro-
posed, in consequence of a bill in Chancery having been
filed; and in order to escape from the personal re-
sponsibility which would otherwise attach. The Chair-
man stated that he intended most strenuously to carry
out the opposition ; the solicitations which he received
from parties in London would warrant him in doing
so, even were he not so well supported in Liver-
pool. He contended that no class of shareholders could
illegally acquire any inequitable lien on another class
of shareholders; and if the directors had done illegal
acts on them the responsibility should rest, not on
the proprietary.
If theears, directors
if ctorsewere to be acted
upon only by their f
company could force them into a
ennneeesesieecntionnf
advan-
tages injurious to the others, then the other shareholders
intoChancery,a
thndseaet
the
what they could do.
muuesftearl also go
would recommend n
eylh
againstould
com-
mence as soon as possible to take proceedings
n
the directors to restrain them
the inequitable proceedings whichonitheeagr ying (ldednt.
The chairman proceeded to analyse the
speeches
of Mr. Ellis, and of Mr. Carbutt, at the
late meeting, and concluded by moving, That
in the opinion of this meeting it is essential for the in-
terests of the proprietors of the Midland Railway, and
for the maintenance of good faith amongst all classes of
stock and shareholders, that the personal and sectional
pretension of the 501. shareholders should be opposed by
all legal and Parliamentary measures."
Mr. PENNY seconded the motion, in which he stit-d
that he cordially concurred; and after some words also of
approval and condemnation of the directors, from Mr.
Driffield and from Mr. Wills, the resolution was p 2: to
the meeting, and unanimously carried.
The CHAIRMAN moved the next resolution—" That
to organize and further such opposition, a subscription
should be entered into, no one to be responsible for a
further sum than that he should subscribe ; and request-
ing all shareholders to join in resistance to payment of
any further preferential or guaranteed dividends"
Mr. A. H. WYLIE seconded the motion, which was
also carried nem. dis.
A resolution was then carried that a petition contain-
ing the foregoing recitals should be presented at the re-
opening of Parliament, and the nate ing terminated.

Dispatches were sent off last evening from the Colo-
nial-offieefor the Governors of the West India Colonies.