The Sun.
London, England, 1826-01-09 00:00:00

MEXICAN MINING COMPANY.

On Saturday a Meeting of the Shareholders of
the Mexican Mining Company was held at the London Tavern,
in consequence of an answer having been returned to a re-
quisition signed by 21 of them, to the Directors, requiring a
statement of their affairs, as well as a meeting to consider whe-
ther the concern ought to proceed further, or not. Mr.
BLANE was called to the Chair, and stated the object of the
Meeting.

Mr. Ceanie lamented the course which had been pursued by
the Directors on the present occasion, and more particularly the
absence of any of them to meet the Shareholders, who com-
plained of their conduct. Had any of these Gentlemen at-
tended, he would have charged them with having infringed
their duty, and having acted unjustly and illegally. By
their confession they must have admitted this to be the fact,
for they had gone to work as if a Company had
i been esta-
blished, when, in point of fact, the thing was only n progress.
There could not, in fact, he any Company legally established,
peered Oaf there were only 8,695 shares, upon which deposits
until their 10,000 shares were entirely disposed. of. Now it ap-
had been paid,' and of the remaining 1,305 none were disposed
of. Even upon the former, the money was not paid by bonafide
responsible people, who had originally purchased, but by the
Directors and others, who had subsequently and illegally traf-
ficked in the market. Besides, the Directors had gone to
work without waiting to see whether the whole capital of
a million sterling were forthcoming; they had most illegally
and improperly made shipments to Mexico, of quick.
silver to the value of 5,0001,;2 of doubloons (which, In-
stead of being sent out, ought to be coming from thence)
to the amount of 6,000/., and other investments, chiefly spices,
to the amount 3 or 4,0001. All this was,
he contended, il.
legal, and done, not on the responsibility of the Shareholders,
hut of the Directors personally. The next thing to be consi-
dered was, whether there was any likelihood of the concern
being carried on, indeed begun was the proper word, in the
present way in which the shares were disposed of? Of the
1,305 shares upon which deposits rernMned unpaid, there were
305 lying at the oflice absolutely unappropriated. It was
also understood that 1,000 shares were originally reserved for
people in Mexico, whose aid on the spot it was desirable to en-
courage. Now, he asked whether any of these people had ap-
plied for these shares ? The truth was, that none of them had
made any application, for the Mexicans knew the speculation
to be a had one, and fought shy of it; and it was time for those
at home to imitate their example. The next point was die deed
of settlement which the shareholders were called upon to sign;
he had only partially read it ; and this he would say, thatit
contained a clause, or clauses, which would throw a monopoly
of the rights of the shareholders into the hands of the Directors
—and would secure, most injuriously to the many, a certain
predominance of rights to the few.—(Hear!)—Ede concluded
by moving a resolution, expressive of the regret of the Meeting
that the Directors had not complied with the requisition.
Mr. KNIGHT (the Solicitor for the Directors) regretted his
absence during the opening of Mr. Clark's speech, and said that
he (Mr. K.) appeared here merely in his capacity as a Share.
holder, and not in that of his legal connection with the Com-
pany. Ile condemned the conduct pursued by a few share-
holders towards the Directors, and declared that the latter, upon
whom he pronounced a high eulogium, had done every thing
which they could to promote the general interests of the con-
cern. lie challenged any gentleman who heard him to state one
solitary instance in which the Directors had not done every
thing in behalf' of their common prosperity. As an instance cf
the disinterestedness of these Gentlemen, he could state that,
when it was necessary to give 200 shares to a Gentleman who
could be of great use to them in Mexico, they, instead of
taking the number out of the 1,000 reserved for local interests
in America, actually gave them from their own individual
stock, at a time when in the market these shares were saleable
at a profit of ten or twelve per cent.
After some conversation, the resolution was put and nega-
tived by a majority of three.
Mr. Kstto ire, said, that now the Resolution was negatived,
he was prepared to say, still speaking as an individual, that
any Shareholders would find the Directors individually reedy
to give then( any explanation, or information they desired, and
that two of the Gentlemen who had actually signed the Requi-
sition to call the meeting, had subsequently upon communica-
tion with the Chairman of the direction, gone and signed the
deed of settlement, so satisfied were they of the propriety of
the course that had been taken.
Air. HAY said, that he had seen recent letters from Mexico,
which said the whole of the Alining Companies were mere bub-
bles and that the people there, who knew the real condition of
the country, would have nothing to do with them. He ex-
teased his surprise that Mr. Knight should be so great a stick-
-Irer for these Directors, whose solicitor he was, upon points of
law, which he was using exactly the contrary way against the
Directors of the Stannary Mining Company.
Mr. KNIGHT explained that the cases of the Companies
said,. that all the shares originally
were quite different.
.In answer to questions from Mr. flurcombe, Mr. KNIGHT
primed, except the 1,000 which had been set aside for people in
believed,
ginoduti
tr,ecbty, connection
thev e wlai tsiti
accounts,
in promo-
tiontiieyprovidd had been appro.
America, and there were also 305 other shares not unappro-
priate.d, but the dividends unpaid upon. There Were shipments
of quicksilver, &c. made to Alexico, bat they were, as he un-
derstood
of the mining speculations of the Company. He could
:tlso as
had one or two of the best mines in Mexico at work, and in
consequence of their caution in being later there than any of the
tt raen tdhie'w Al.
other Companies, they had got the best and moat secureplacee
having had good time for inquiry, and had also avoided the
errors of those who had gone before them.
A Committee was then deputed to wait upon the Directory
to receive the information which it was said they were not re.
I
luctant to afford, when individually applied to.

POLICE INTELLIGENCE.
MANSION-HOUSE.
UNCLAIMED DIVIDENDS.-011 Saturday, a Gentleman
made the following complaint to the LORD MAYOR. A days
since he received a letter front a Mr. Joseph Adey, stating, that
he could give him some important information relative to certain
unclaimed dividends to which he had a title, and that his fee for
his trouble would be a sovereign. Witness afterwards saw him,
and gave hint a sovereign ; but, on inquiry, ascertained there
was no truth in his statement, and that he had been duped. He
applied to have his money back, which, however, Mr. Adey
refused to give him,and he therefore hoped his Lordship would
issue a summons to compel him to do so. The LORD
MAYOR said, that several similar applications had been made
to the late Lord Mayor, but were productive of no good, as
titlen naiciec
et the
aryl
etorngeeyttgi
nogt
iitobt out 1
ar
at: t hilaned, ,h tohweer wr
,ags
rvaenrty.
ed a summons.

UNION-HALT,.
Notwithstanding the unremitting exertions of the pollee and
parish officers, the neighbourhood of Brixton Is daily visited
by youthful thieves from the metropolis. A boy seventeen
years of age, with his left eye fashionably discoloured, and who
stated his name to be Thomas Giddins, was brought up on Sa
turday by a constable from Brixton, having been stopped in
that neighbourhood with two large and beautiful live ducks In
a sack from the size of which we conceive he had calculated
upon a tolerable share of booty.' The constable stated that he
was sent for by Mrs. Franklin, the owner of one of the ducks,
to take him into custody, having surprised the young gentle-
man before he could make good his retreat. Mrs. Franklin's
man-servant swore to one of the ducks being the property of
his mistress, and that they were safe a short time previous to
the capture of the prisoner; he also identified the other as be-
longing to a neighbour. The prisoner being asked what he
had to say, entered into a long and contradictory detail. He
was committed for re-examination, when all parties will attend
for the purpose of being bound over to prosecute.
A young man, named George Townsmd, who described
himself as under.gardener to Dr. Mackintosh, of Stockwell-
park, was placed at the bar, charged with having made too fre-
quent libations to Bacchus, and while under the influence of
die jolly god, with the force of Hercules smashing divers win-
dows in the Borough of Southwark, thereby putting the peace-
able inhabitants of that ancient Borough in a state of great
alarm.
Mr. SIVABY—I advise you to pay the damage you have corn-
mitted, which is but reasonable, as the parties which you have
injured do not wish to have you visited with any serious pu-
nishment. 1 hope you will not indulge yourself for the future,
go as to deprive yourself of discretion. Mr. George Townsend,
who, it seems, had cultivated cabbages more than reason, in
most unblushing manner, denied being drunk. Mr SWAIM—
Then your conduct is the more inexcusable; how could you
act,Tionwtnbsaetnndla—nnledridartildotn. osawysitywyansusowbaesr:onbeeritter
dm 1
say 1
"3Mrd.rSunwk,t'n Swans--Your rwllittsasttiePr6b,Yeitatitccotortishignfacedkinfou7ei,ghottlghloultrsto htte)
made acquainted with your behaviour.
Townsend—lf he was, he would not discharge me, and.
shall not pay the damage.
theTchairsewofn toifieCgeareoleirl,arainngd not relishing the Idea of Brixto.i
tread-mill,
_reluctantly paid the expencea and with sullen
countenance and heavy sfe,p retired haying raised vain
scruples to torment hintself.'