The Sun.
London, England, 1826-08-11 00:00:00

NORTHERN RAIL-ROAD COMPANY.

YesterdaY "...meeting of the Shareholders in this Company took
Place at the London Tavern, for the purpose of considering the
proprieey of dissolving the Company, on account of difficulties
wh'..ch'presented themselves. There was a great novelty in the
'Proceedings of this Company., It was a contest between the Di-
rectors whether or not the Company should be put an end to.
Goomaz Htaarur, Esq. was called to the Chair.
The Csuakmax stated, that notwithstanding the report of No-
vember, which spoke highly of the probable advantages of the
Company, the Directors now thought that the concern should be
abetutoped, inasmuch as a change had taken place in the situation
nf !Stirs. The general distrust of Joint Stock Companies operated
ig,mit this. It bad not beekascertained what degree of oppo-
sition.the Land-owners sight offer, and it was considered that
the difficulties which presented themselves were on the whole of
such a nature as to induce the Directors to draw up a report,
recommendatory of a dissolution. He reluctantly stated this fact.
The report was the result, not of a change of opinion, but of cir-
cumstances.

Mr. VIZARD, the solicitor to the Company, then read the re-
port, which represented the advantages that presented themselves
If the concern were prosecuted with spirit, but advised that, in
consequence of the difficulties of getting capital together, and on
account of other difficulties, the company should be dissolved. It
stated that the sum required for the undertaking amounted to
943,777/. ; that between 16,0001. and 17,0001. had been received
as deposits, and there remained, after payment of the expences ne-
cessarily incurred, as much as would pay the shareholders lls. in
the pound.
It was then moved that the report should be agreed to.
A shareholder asked how many share. the directors had first in-
tended to issue.—The Chairman-25,000.
It was stated, that a large reserve had been made for the coun-
try, and that, on that account, there had been a great unan-
swered demand in London for shares; but the change which took
Place prevented the expected demand in the country.
Mr. W. Ctaxxx regretted that the plan had not been carried
into execution. It would have been a national benefit. He was
!trilled at the solicitor's bill, 100/. It was unlike that of the
Kentish hail-road Company,
bi 2,500/. ; but the latter was Mr.
ll' The shares had been kept back for a legitimate
object in this concern, and. the Directors had not trafficked in
them.

Mr. WRIGHT (a Director) objected to the report. He knew
this concern would be immensely profitable ; that it would pro-
duce 10 per cent. the first five years, and God knows bow much
per cent. afterwards. He should be afraid to say how much.
He thought nothing of the temporary deficiency of deposits, after
all the humbug matters--200,0007. a year was a drop out of the
budget in the city of London, where there was such enormous
capital. They could easily get an Act of Parliament, and Go-
vernment would favour their object, as a million of money would
he employed, and the poor must be benefited. He trusted that
the shareholders would not take away their paltry I Is. a share,
when such enormous profits presented themselves. Mr. 'Wright
acknowledged that he Was a,.large- coal proprietor, and that he
looked, in the first instance, to hie own advantage. He moved
an amendment, that it was not advisable to break up the concern,
but that all the shareholders, who pleased to give notice within a
certain time, might withdraw their deposits, according to the
proportion mentioned in the report.
A long conversation followed, in which it was admitted, that
though the majority of shaieholdert might think -proper to with-
draw from the company, there. still was a chance of the con-
tinuance of the concern, from the 'high promise of advantage.
The ameendment was agreed to ; so that the company is still in
existe.nc.

Mr.
wmour, to show that money was not wanting in the
eity, declared to the meeting, that a friend of his had been offered.
the day &lore, 200,0001. at 2 per cent., for any time he pleased.
laugh.)

MEETINGS OF CREDITORS.

LONDON DIARY, MONDAY,
.Aucs un. 14.
(At the Court of Commissioners.) w.
Dimity and Tuck, Howland-street, and Kensington, builders 12
W. R. Griffith, City-road-bitainfiron‘rnerehant ll
W. Jackson, White's-alley and Warnfortl-court, smith

COUNTRY DIARY. ,
W. Birch, Thanet —Guildhall, Canterbury, 0
J. C. Blore, Liverpool—Messrs. Morecroft, Liverpool
R. Hill, Norwich—Rampant Horse, Norwich
B. Lane, Manchester—Mesars. Clay, Manchester
J. M Lediard, Cheltenham—George, Cheltenham .......... .
errell, Cheltenham—Georgo, Cheltenham ....
Wilson and 'Westmorland, Liv.—Meurs. Orred, Liverpool I
A

r great number of workmen are now employed in
epairing the fortifications of Valenciennes. am,
are now very few workmen employed on the fortifica-
tions of Cambrai, which are, notwithstanding, in a
l'erY bad state.