The Sun.
London, England, 1826-01-18 00:00:00

ROYAL STANNARY MINING COMPANY.

Yesterday a meeting of Shareholders of the
"'Loyal Stannary" Joint Stock Company wits
held at the City of London Tavern, for the pur.
pO9M of receiving the report of the Committee
appointed at a former meeting. Mr. 13LANt: was
called to the Chair.

The CHAIRMAN stated that they had taken the opinion of
the Attorney. General, Mr. Tindal; and Mr. Pollock, vi the'
Common Law liar, and of Mr. Knight, of the Chancery Mt,
as to the practicability of recovering their deposits by legal
proceedings. The Learned Counsel were of opunon tiiht .473 Y:
original shareholder might maintain an action at common law
for ilia recovery of his deposits t but they doubted whether any!
one who purchased subsequently could recover. Mr. Knight.,
the Chancery L.arrister, was, however, clearly of opinion that •
those who were not on shareholders might obtain relief its
is Court of Equity. The Committee recommended that pro-
ceedings should be taken, under the direction of trustees,
pointed by the shareholders. The Chairmen added, that the
Committee possessed more information than they deemed is
necessary to communicate. They yesterday met two of the
Directors, Mr. A homy and Mr. Phurney, who, not in their
capacity of Directors, but as private individuals, made a pro-
posal that the affairs of the Company should be wound up, un.4.
der the direction .of three of the Committee, and three of the
shareholders t that their mines should be sold, and the entire
proceeds especially divided. But the committee could: not re•
commend the shareholders to accede to this offer.
Mr ROBERTSON said, the reason the Committee {lid not
think it advisable to accede to it was, that the DcieCtors
poped to have all their expencei paid, so that they tecittiq gat
out of this onforttinate concern, by sharing all the protital, and
the sharehAders would have all the holes and epcnces mod&
divided amongst hear I—The gentlethen• iVho
met the Directors had proposed to leave all 'their coneerne. to'
the decision of some Chancery barrister of great eminaasei
hut this offer Wag not received. Some of the committee. hid
appointed to meet a deputation of the Directors, but he (Mr.'
Robertson) entertained but little hopes of tiny fitvoilrable
commodation.

. . , .
A Shareholder, then, at the suggestion of one of the ;ere.
mittee, moved, that five trustees should be eppointed to carry
the recommendation of ' the committee into effiCt, 4WI take ,
legAeilt.pknoseleadliinf.:
tohnebienii.sliciftrorf,tahtvelitreilnittldxeprsti.nation,
that
the,
shareholders who joined in the measure, would'intiice over
their shares in a deed of trust, to the persons who Might Ace itit
them. This course was recommended to simplify the j!roceed-'.
ings, save expellee, and bring the matter' before the Conn,
with the greatest advantage.
Mr. W ILL lAM CI, ARK addressed the meeting, and corn.
plaintad of having suffered much annoyance, by hiiving' tali
name confounded with that of one of the Directors of the
Arigna Iron Company, to manifest the distinction between
himself and the Arigna Director. With respect tq the present
COmpeny, he declared his conviction, that the Directors were
not such fools as to go into court, if they saw any thieg like
determination on the part of the shareholders to get bat k the
deposits.
Mt WOODWARD wished to know whether the
.siaareluddeti
by purchese would be included in the trust decd?'
The CM A; RDI AN said, that the deed would'be so framed As
... to bring in all the shareholders, whether by, eubseription or
purchilw.
The motion was agreed to, anti the trustees were named.
Ur. Rout:111101i said, it should be.well understood. thet
none but those who joined in the appli4tion,teppid be p'er-
nlitted, or be able, to share in the ativiariteges.derived trerq-the'
application. That they could .nor share, .every solithei . Old
intornt them decisively. It would therefore htiOr:r*iiil ,
perietmoi to hang back, in the ixpecutialthAxoce w 4
tight their betties free ,of elpenre• All. w49.0.a.nt:0d to►.. . .!1.!
~;,,,,,, . - ...• ~ .., r... V1.,-,
tile prottuee, must join in the ..."...e. ,• - - • . .
A resolution was then passed, that no expetKe' cAtiftlril•
etirred heyend what 2it, tid. pant *bete remold tr 1,, • ,?14
~k
the fiwiioii i)l' the get.eiiii. meeting
.belpg ti 4144.
it.L.„.41. ..
A lopg cotiNtalLttloll tO4 place Uri 4001014 Ar2•13wa14114/0,,
itt Alt %tinny titiititi letter:: It waietttlettygitileessmelfußica Vint t_t
ty
'be the security fur tit,' ellkitiMpet. *, " 4,,...,,,, ~,...,.. i ,
Thanks were voted to. the ' ciiioPo*.librviiiie tialaisill
„separated. '•

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