The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-01-02 00:00:00

THE VIARRINGTON DOCK COMPANY AND
THE DOCK COMMITTEE.

IFIE DIRECTORS of the HARRINGTON DOCK
COMPANY, having made the following Resort to
the Shareholders, and having since forwarded a copy of
icto each Member of the Town Council and Dock "Com-
vaittee, every one of whbth has the means of testing its
'accuracy, now think themselves called upon, in ijustice to
the Commercial ,community, to make the saint-statement
public. Misrepresented as to their_potces in the recent
negotiation with the Dock Commitlee, and as to many of
the circumstances attending it, the Directors have hitherto
entirely disregarded such attacks, considering that calum-
nies are always best answered by facts, and that honesty
in purpose and action need not be vindicated. Nor would
they even now have come forward, but that they see a
great public improvement, loudly demanded by the Com-
mercial 'interest, and supported by the strongest testimony
of the Dock Officers, in some danger of being defeated
or delayed by the opposition of 'a fewindividuals, in con-
sequence solely,,tts they believe, df the ignorance or the
misapprehension of the real facts'of the case which gene-
rally prevails, and which it is the 'whole object of the pre-
seat statement to remove.

LEWIN MOZLEY, Chairman.
<Liverpool, 16/h Dec., 1843.

REPORT.

-SWAREHOLDERS OP THE HARItrNGTON DOOR

COMPANY.

Hithertoit has not 1;;;i1; practice Of the Directors 1
'to issue any Report of their proceedings, except at the
Annual Meetings, when they have uniformly had satis-
faction in submitting to are Proprietors the fullest details
'of their past proceedings.
Events have, however, occurred, daring the present
year, of more than ordinary importance; and the Direc-
tors are, consequently, -anxious at once to place them
Selves in communication with the Proprietary, in order
to convey to them a simple statement 61 facts, and thereby
disabuse the public mind of certain misrepresentations,
_at present current, in-reference to the-negotiation pending
'between your Directors and the Trustees of the Liverpool
`Docks for the sale to -the latter of n'l4rge portion of the
Estate.

The usual period far closing the Atnnual Accounts being
' so near, any statement as to general management or fi-
- rianees of the Estate's at present'uncalled for ;Thut the
'Directors have pleasure in recording their satisfaction at
' the continued improvement, so far, this year, of the un-
dertaking entrusted' to their management.
. -

Many of the Shareholders'will be aware, thattbe Pro-
perty of the Trustees of the Liverpool Docks,-adjoining
' the north end of the Harrington' Estate, is confined within
very narrow limits; and the inconvenience arising there-
-front- harvfrom time to time, occasioned inquiries whether
your Directors would be willing-to negotiate for the sale
to the Dock`Trust of so 'much 'if the north -end of the
Harrington Dock Estate as was necessary for the enlarge-
ment of the Torteth Dock.
No steps of a: formal or deckled characterwere, how-
ever, taken until early in the present year, when a special
meeting of your ;Directors was convened for considering
the subject, which 'resulted in the appointment of a Sub-
committee to examine into the cost of the Estate, its pre-
sent revenue, and future capabilities.
On the 7th 'of February last, a•Report on these subjects
was read at our Board, for a copy of which see Appendix
A.

At this Meetingthe Chairman intimated, also, the fact
of the inquiries Which had been.-made from him, and the
following resolution was unanimously agreed to.:—
" That the price fixed for the -value of land to be sub-
mitted, say 12747p3 yards,, be 335. per yard ; and that the
Chairman be authorized to place himself in communica-
tion with the proper parties, with the view of negotiating
for the sale of the.-land in question."
Under this authority the Chairman took early means
• of communicating with the Dock'Trust, and, to avoid any
possibility of misunderstanding-on the subject, forwarded,
for the information of the Chairman of the Dock Commi-
ttee, a copy of the report of Mr. Stewart, as vv.;ll as the
resolution of thelloard of Directors thereon.
For some months the affair' remained inactive; but,
early in June, applications were .made to ourJloard, by
some of our tenants, for improvements and extended
leases ; and, about the same time, proposals forthe pur-
chase of part of the land at the south end of the Estate
were submitted, requiring mature consideration.and early
.-decision.

a--
Un er
circumstances
so urgent, the Chairman addressed
a note to the member of the Dock Committee who had
been the medium of the previous communication„asking
.for en early reply.
The published Reports of the proceedings in the Dock
'Committee, in the months of June and July, will-afford
ample means of reference to the discussions in connexion
witbtbe necessity tor increased dock space generally, and
especially as respects theintention of that committee to
negotiate with the Directors of the Harrington Estate for
a portion of their land.
Thezesult was a formal resolution of the Dock Com-
mittee authorizing such a treaty ; and accordingly 'Mr.
Sands, -the Chairman, called on your Chairman, and,
finding he was then in London, appointed to meet there,
for the purpose of carrying, out that resolution. Aninterview took place .on the 17th July, at the Bur-
lington Hotel, when, acting .upon instructions from the
Board of 'Directors, your Chairman stated that the price
-of 40,000 'to 60,000 yards °Nand and strand at the north
.end of the estate would be forty-two shillings per square
yard.

The powers of the Chairman,of the Dock Trust being
,limited to a treaty for the quantity of land offered at the
price not exceeding 31s. 6d. per yard, it was mutually
arranged, that a communication should be made to the
hoard of Directors in Liverpool for further authority,
and that, pending a reply, the negotiation should stand
over.

On.the 19th of July your Chairman received, in Lon-
don, a letter from the Board, for an .extract from which
see .1.3. in the Appendix, and, on meeting Mr. Sands that
day, by appointment, intimated to him the confirmation
of his previous insttuctions as to price.
The Chairman of the Dock Trust not having authority
to exceed the price offered by him, the negotiation at that
time did not proceed further ; but it was fully understood,
after much discussion, that if the Dock Committee should
revise their resolution, and desire to treat fora purchase
of the whole Harrington Estate, west of Sefton-street, a
less price per yard than the rate asked for the portion
then required would be accepted.
Shortly after these interviews a scheme was brought
out, having for its objec:: the formation of new Docks,
Sheds, and Warehouses, by a Joint Stock Company, who
should purchase the whole of the Harrington and Hercu-
laneum Estates; and the subject received, as it well de.
-served, the early and serious consideration of your Direc-
tors ; but the pending negotiation with the Dock Trustees
had its due influence on the minds of the Directors, and
naturally induced them to pause before they entertained
the idea of any new appropriation of the Estate.
At a meeting of the Board, held on the 3d of August,
the following minute resolution was agreed to :
The Chairman reported the result of his interviews with
Mr. Lace and the Chairman of the Dock Committee rela-
tive to a sale of the whole or a portion of the Harrington
Estate ; and, having reconsidered their former resolution,
fixing a minimum price on the land, the Board now re-
solve unanimously,
" That the Chairman be empowered to negotiate for a
sale of the whole or any part of the Harrington Dock
Trust ; and that, until all negotiation with the Dock
Committee be concluded, it is not advisable to entertain
Mr. Lace's proposal."
in possession of this full authority. and seeing the ne-
cessity, in consequence of Mr. Lace's plan, of coming to
some conclusion one way or other with the Dock Trust,
your Chairman considered himself warranted in commu-
nicating, for the information of the Chairman of the
Dock Committee, that the Directors were willing to sell
at the price fixed on the 7th of February, or on such terms
as the opinions of competent surveyors might decide ; and
that they were equally prepared to treat for a sale of 40,000
to 60;000 yards at 355. per yard.
_The discussion which thereupon ensued in the Dock
_ueo_Mmittee naturally attracted the attention of your Di-
'd uertinors ; and the various unfounded statements hazarded
plicatliothe debate, as regards the cost. value, or useful ap-
plication the
sire onHarrington Estate, created an anxious de-
linpres the Part of the Directors to refute the erroneous
sums which were spread abroad by the circulation
of these statements through the medium of the press.
its the moat direct means of effecting this object the