The Glamorgan Monmouth and Brecon Gazette and Merthyr Guardian

— t Half-Yrarly Meeting of the Taff-Vale ,,( lrfwayComiMnyfFeb.21st, 1^ ■' •* j ..t^Xlwikalf-yearly RiMtinf of the shareholder* and director* .In.tibia.OMipuij wfifetid op TiiVidijIut, it lh« Angel Ian, •• fftrMMt *• AMvartiwmant. From the peculiarities of the -t-diMloaurOT, and the gtpaml affaire,of tho company, much <l telimt ,.cit-. QØ ,the meeting was-in conscquancs numtwmlj attended. A ilir nintitn maer,one Welock, Sir John Gutat, BAd., .P. ,0n4 ,10 the ehair., I", The CKUMUX dirtctly proceeded, to the huiintti of the 4ay, and-called ea the Secretary pro tem, Mr. Morcom, who • Mad. tiie following- R E P O K. T of the Directors, *9 the'General M-eetinf o» the Jllet Feb., 1849k The atktenieat of accounU annexed to thie report chow* • that the receipt* from the working of the -line for the fix month* eatding the 31it M December last,- ha* been £ 16,27tf Md. .The disposable balance, after paying the whole of thaiatorMt enthft loan* and new shares, is £ 942. 3s., which 1riH preteht this meeting from making any dividend on the old shares this- half year. The mm of £ 18. 14«. 6d. per '■ ebare is carried to the credit of the old shareholders ate oapitaliied interest, making the nominal amount of each • • ahsr* £ 11*. -14*. 6d. • 'r The universal depression in mineral -and manufacturing industry, in which the cooland iron trade* have to largely v shared, will in part account for the small improvement which :.Im, taken place in. the income of the company. The directois" havi t6 inform the proprietors that an unanimous resolution n of {hs members of their hoard, has led to the termination of theconaection which subsisted be^weeu their late supsriti- Sfadant and a»cr#tary,Mr. Burgess, and the company. By *.I##OiisioL of. _t^f .ratesth« directors might have, secured a ,^f«ni|idfrable infamy from the Lleacttveh branch. The ^lire«terahava glvei^ to thia subjeet Ahe Aalasest and most >* tuipu* consideration, and bav»da«m«d it wiser to aacriile* ^^Up^medjia^ rfturp, to the. perplanent inUrests of the ( The delaj in the formation of the Dowiais branch has also Jfagjagatlj tM|d#d Jo ke$i the faWMM frf the company. —: ,i We finwA:f Haji# %ir will soon be ,>f*ifcrtarfaa' Will MetelVtb* in^urtanHrtw* ^dependent on the nai gm^ilibmentof this psrtof the \iniettakior:th. erection trfanteMaeiy efr affording facilitiee for shipping coal in the which the directors were led torcly for « w,ovatiow%oe vf trade on the linat has been protracted vary long beyond the period A*ed for it* eonspletioh, tut it is rkoptd that th»4bd* SQIHSHI afforded by Mr. Dodds, the Jtaginewof the Dowl.u..pnr, will varyaoon renderthis wtobi=q orwive far the purposs it was intended to answer. i ginc7 the last general meotinlg, the directors fouhd that the qmtmct -made for maintaining the-Permanimt.-WiLi, was a very disadvantageous one to the company, and they hare the tetiefaetionrof iufoming <hw propf!ttbf<, "that the arrange- aienta they have made for taking up thlor eøattact, "ifili form -:i »4tensiderable item in the saving to be made in -the annual -Mpeftse of working the line. The geaeral reduotioa in the priee of coal has also enabled the director, to offeet a "ving of 14 per sent, in the priee of coke. • Two modM naturally present themselves Vy which the o revenue of the railway may bit so improved a* toInsure a AU -i-stum on the capital oinb'arkrad in it.- First, byintreuinr the traffic, and secondly, bydi &1M eha.e of w-arm.,the-Une.. Much without doubt met be accomplished by these means, And the directors are actively and anxiously occupied in doing i all in their pewer to add to the trade and to diminish the ttpmoog of carrying eitth-o business of the company in every department. But in every reduction due regard will always be had to the eafe and effective working of the line. Tag Vale Railway Capital Account, to Doe. 31,1842. Raosiro. • e. d. d. ^Amount called on 3000 old 'f 8baret, 800,000 0 0 v '.|jM#arream on 78forfeited! ■; r >•••<!■*$<: z-: Shares, ,47,210. j » -v. u '« »«.«(«*$ Amount called on$888 New Quarter Shares.i. 116,780 0 9 Leseaitean 7,750 0 0 100,030 0 0 'I :.1, Amount received on mortgage- debenture* 100,000 0 0 Ditto on loan notes 45»782 8 11 -,bills payable, outstanding 21,498 0 7 Totipomy loan 4. 6,168 5 4 £ 675,056 19 6 EXPENDITUB*. Parliamentary expenses and law tha" 26.4 16 4 Laiidi eotopensatien and valuing 57,734 v14 11 • Me., Bleksmte, for iroinpaniation 10. 00 1 Works, including permanent way iftd sta- tims 402.449, 12 2 Engineering and eurveying 25,52& ,,i 7- XienCial Stock, iaeluding locomotive engines, V*amwgee,^ndWaggonsV. 28,7S» 1<T. 4 > Trawlihg expenses l,S50 1ft 11 •, Ot^e and Incidental'expenses '2,555 11 4 Advertising, printing, and stktidnery 1,613 3 8 BfWeand taxes 21 7 9 direction, 3,438 010 garetwi-.aud clarki" salaries 1,985 16 10 Deboutwoukd Other stamps.. 958 12 5 '-fntersetra-debentures 8,879 13 4 i Ibtsrest, balance of general account. 4,759 16 I »! E575,056 106 REVENUE ACCOUNT.—HALF YEAR ENDING < DECEMBER 31, 1842. J6. d. Piesenger traffic 3,380 0 6 General merchandise traffic 2,840 14 0 :JfèiRtratBc" 3,155 3 6 iron ore traffic.V. 2,299 10 6 Coal atidcoke traffic 4,604 5 4 Rent account 20 14 0 i t6,300 7 10 d. jC. t. d. >,Dlr.ectioia.¡, 206 9 2 /Secretary'soffice expenses, vis., r- ? Salaiiea 403 2 4 Rent, stationery, and ineiden- 112 13 4 ¡' — 515 15 8 Maintenance of way' and works, via., i Salaries 136 7 0 Amount paid for maintenance 2,026 13 5 163 0 5 Locomotive department, vis., Salaries 140 5 0 Wages of engine drivers, • stokers and cleaners. 766 12 0 • f*' • Coke 739 12 11 4. Stores, vix., oil, tallow, &c., for consumption 298 12 0 Wages and materials, for re- pairs of engiues and tenders 1,069 4 8 ——————— 3,014 6 7 Stationaiy engine and incline plane, vis., •' Wages of enginemen, bank riders, coal and stores 275 2 5 Traffic department, vis., Salaries of station clerks. 535 4 10 -y Piinting, advertising, and ata|ionery 139 15 7 Coals, candles, and other r stores for.stations 94 6 3 Wages of guards, brakes- men, police, and porters.. 1,2083It Clothing for ditto 143 10. 2 •> •• «s"y Wap' o'sud materials for re- r, pairs of c rriilgea, and \L-. iriggon* »16 10' II" i ,1- Horse-keepingeppfenses,.in- ¡ eluding haulage on Llan. caiach branch 498 9 11 r j Working expense of Llan- t caiach incline 207 15 4 Rent of Bute dock wharf 50 0 0 — SJ194 10 11 Incidental expenses 10 1 7. Government duty on passengers' traffic 196 2 0 Utinapensation for damage 280 2 8 FiLriph rates 451 3 1 Travelling expenses 113 12 5, Bad debt fund 88 7 11 balance 5,791.13 0 £16,300 7 10 To Balance 5,79113 0 Intereatondebentaret. 2,456 6 3 loan notes 1,052 7 8 new quarter shares 2,242 7 9 Balance to general revenue account 40 11 4 £ 5,79113 0 3-' GENERAL REVENUE ACCOUNT^ ■? £ s. d. To balance disposable, June 30th, 1842, as per former account. 4,376 14 2 To balance of revenue account, for half-year ending 31st December, 1842, 40 11 4 J" JC4.417 5 6 £ 0 8, d." — By dividend of 28*. pier share, on 2924 shares 4,093 12 0 '.Less iucome-tax deducted. 18 8 6 —4,075 3 6 Balance 342 2 0 J • iiusa ju -.» lnnl j a £4,417 5 6 To Balaace 2 0 The report having been read, the chairman invited share- holders and directors to address the chair on the subject. In reply to a question from a Mr. Williams, whether the sum of not paid by the company for cjertain lands for the use of the company,, and why an agreement had not been entered into for the lands previous to this period. The CHUXIUN replied, it was the business of a, jury to determine that M'well as similar questions of compensation. 1* reply to a similar question from Mr. Rogers^ whether the present work* were ejected on the ground before the agreement was: made, The CNAttHtAW said, that: if the gentleman would consult the Act ofParliament, he would see that notice should be first served on the landholder of, the intention of the eom- pany to appropriate his land at a proper valuation. If he was not satisifed, a jury WH to be su/nmooed, who would decide on the amount of compensation. Mr. VACHMLL put a similar question to the ehair, which the chairman replied to by a similar lefereaceto the liability of landowners to abide by the decision of a jury, particularly when the demand made for compensation was exorbitant. Mr. imu tlien moved that the reporjUlt -reathhould be adopted. It would, he said, have given him more satisfac- tion in moving the adoption of the. report -if the financial part of it. was more satisfactory. He was, however, willing to take it as it was; for much allowance should be made for the falling otf of part of the traffic, and the expenses contin- gent on the various expenses of the line. He was also quite satisfied that the directory had the interest of the shareholders at heart, which they endeavoured to promote 'by every means in their power. With that feeling of confi- dence in their management, their general capabilities, and integrity, he had great pleasure in moving the adoption of the report, that it be printed and circulated for the use of the shareholders, PIKKIMS seconded the resolution. BUiUiKKS wished to know if the board of directors of thejriUway company had any charge to prefer against him. His characier was impeached, and the report of that body stated that all eohne^ion between them had ceased. The reasons for that discontinuation had not been stated, and he ithoojgiit if due to his character that such reasons, if any ex-, isted, should be Mated.' There Wfre particular cireamstaaces connected with his dismissal that made it necessary that some explanation should be gont into. For his part he could fearlessly say that he" conducted the business of the.. 5 company .with integrity. If there was-an error in judgment connected with hit suggestions for the carrying out— The CHAIRMAN.—I think the present explanation quite beside the object of the meeting. It is my duty to read to the meetm^g the resolution bf the committee on the subject of Mr. Burgess's dismissal—a resolution, I should say, agreed after deliberate investigation of the charges pre- ferred against him. The CHAIBMAN then read the resolution of the Hmntnittee on the subject. The resolution waa in general terras condemnatory of the conduct of Mr. Burgess, and which, in the opinion of the committee who framed it, rendered it inexpedient that they should any longer avail themselves of his services. That resolution, the chairman observed, rendered it unnecessary for him to enter further into the subject. Mr. BURGU8 said, when that condemnatory resolution was passed, the chairman observed there was nothing to affect his (Mr. Burgess's) character. Mr. Burgess was proceeding in a tone of recrimination to justify himself, when The CHAIRMAH interfered, and said that an altercation, such as wa. likely to grow out of the present conversation, was not likely to benefit the proprietors; he should there- fore wish to see an end of it. Mr. BUKGESB.—It may be convenient to get rid of the matter by such interruption, but such a mode of proceeding would not satisfy him. He was anxious for an investigation, and wished the subject to be investigated by a committee. The CHAIRMAN said that Mr. B.'s interruption was quite disorderly; It was for the meeting if they choose to appoint a committee. The committee who adjudicated on his case had made no charge against him. Mr. BURGHSS insisted that a very serious charge had been m&de against him. Not one, but many. The meeting ahould in justice hear him. Mr. &all.—It was but justice to all parties that an in- vestigation should take place. If Mr. Burgess was in error, they should be satisfied of that by an investigation. If not, he should not leave that room with the character of a dis- honest man. The CUAIM^AK said he would leave the matter in the hands of the committee who had disposed of it. Mr. VACHELL satd that with great respect to the meeting, ■he should say there Was a course open to them to prevent any further disagreeable proceedings. In common justice to Mr. Burgess, as well as to their Own Consistency, they ought to show that there were reasons for his dismissal. He would beg, therefore, to propose a committee for inquiring info the subject.' Mr. HALL. —Do you mean a committee of inquiry into all the affairs of the company. Mr. VACHBLL said; that he yrovdd have hi* inquiry of a general nature, embracing the entire of the company's affairs, particularly letter in connexion with theit proceedings. It was desirable ,to get that gentlemap on the naett H* could not help- thinkliry that much good would result if a committee were appointed. He begged, therefore, to move for one, for the objects he had stated. The motion was seconded by Mr. Edward Morgan. The committee was for a general investigation into the affairs of the company, and particularly into the case, as con- nected therewith, of Mr. Burgess. The committee to have power to add to their nnmber. The CHAIRMAN thought that such a resolution, whatever might be itsteudency or inconvenience, was at least regular. If there was a dereliction of duty on the part of their late secretary, probably such a course as now urged would meet the exigencies of the case. Mr. BURGKSS denied that there was any dereliction of duty on his part. The evidence that criminated him was all on one side, and he was not allowed to call any evidence in rebuttal. If the shareholders desired a full inquiry into their affairs they would not refuse an inquiry into his case. Mr. VAUOHAN thought the proposition of Mr. Vachell ought to be acceded to, as meeting the generalwishe8 of the proprietory. It wis not, at the same time, a very practical thiiig to go into the subject of dispute between Mr. Burgess and the body of the shareholders. If, however, the inquiry were deemed necessary, he would have an opportunity of a full investigation before, the sub-committee. When that committee is appointed, he trusted that it would have reso- lution and firmness enough to inquire into the state of the case between Mr. Powell and the proprietors. They were at present in this peculiar state, Itanding on the brink of a crisis, he knew not how produced, but one that required much skill and dexterity to get them free from. He did not quite agree with that. part of the report, which stated that they had recourae to the proper mode of conciliating Mr. Powell. If a party goes to a certain expenditure on the faith of an Act of Parliament, and involves himself in certain outlay con- nected with a railway, why he should get the benefit of that Act. If they would refer to the Act passed in 1836 and 1840, they would- see the principle clearly laid down there, that any proprietor who chooses to carry coals or passengers on a certain line, may do so, on payment of a certain toll. That line was intended to be a highway, contingent on the payment of certain tolls. Now, it was on the faith of such an Act that Mr. Powell was induced to, lay out his money. It wa* not until after that expenditure was gone to, and that purchase made, that Mr. Powell was told he would not be allowed to put his carriages on the line. It might be inconvenient to have such locomotives, not subject to the arrangements of the company. If Mr. Powell made a fair proposition to the company, he saw no just reason why it should not be entertained. If Mr. Powell could have his coal hauled for Is. 10d. instead of I*, lid., the difference, he thought, should be allowed him. If Mr. Powell got his enrriages constructed on the faith of an Act of Parliament, he thought it but just that some understanding should be come to with him. They ought to see whether or not they could haul down coals on the termt he proposes. The directors were anxious,, no doubt, to get high tolls, but there ought to be some justice in their proceedings, some approximation towards the views of that gentleman., He would again repeat, that, if upon the faith of an Act ofParliament, Mr. P. built his carriages, he thought it hard that at the eleventh hour he should be de- prived, of the benefit of them. This, among others, he hoped would be laid before the sub-committee., They would see how far Mr. Powell's proposition could be entertained. He stood in a peculiar position, and should be happy to meet any proprietor on the subject. He considered that the fi- "xiancial p'art of the report had given some dissatisfaction. When he considered the amount of traffic that might have been on the roaid by acting with honesty and liberality—the quantity of material that could be brought from one precinct to another-be thought the entire question of haulage ought to be brought under the notice of the committee of inquiry. It had been said that coals could be brought more conveniently by canal than by railway that the shaking of the coals, in a great degree, pulverized them, and rendered them comparatively valueless. To such an extent was this injury done, and consequent depreciation endured, on the value of coals by trains, that captains of vessels made it a general rule to take the canal coals when they could in pre- ference to those brought down by train. (Cries of non- sense—no auch thing.) Gentlemen may dissent from what he said, but such, he was instructed, was the fact. One of the points mainly relied on by Mr. Powell was, the rate of speed at which the trains travelled. The rate of 12 miles an hour, he was of opinion, injured the coals. Now, that injury, he thought, might be obviated, and the character of the coal, which in consequence was injured, should be, if possible, retrieved. He would conclude by asking a question respecting the cost of machinery. He wished to know the quantity of coal that at one period could be shipped by the agency of what are termed lifts 1" Mr. BURGESS explained, that when the proposition for the erection of these lifts was first made the computation was about £2,100. He subsequently consulted with Mr. Stephenson, the engineer, who wrote him a letter in ap- I proval of the principle. When, however, the affairs of the company, in respect to its traffic, got into a ruinous state, a reduction of £ 411 was effected. Much had been said about the exorbitant power of the engine, as complained of by Mr. PowelL He asked Mr. Stephenson what power was neces- sary to ship 1,000 per day. He replied, a five-horse power I .engine and he (Mr. Burgees) had put on a ten-horse power, and 2,000 torn per day could now be shipped. Mr.T. EVANS.—There was no doubt about the capacity of the present engine., As for the breakage on the railway, he •aw nothing in it. He would now trouble the meeting with a statement of the comparative cost of canal and railway. It had been said that the cost of coal by canal was cheaper than by rail, he had gone minutely into the subject, and he found the charge by canal to be 2s. 6d.per ton, and by rail 2.. 31d, there was a clear profit therefore of 2id. per ton by rail. He thought that every reasonable concession ought to be made to Mr. Powell. If the company held out an induce- meht to him to build carriages, and that as matter* atand at present he cannot run them, they ought, in justice, to take them off his hand*. If they reduced the rates, as regarded Mr. Powell, they would now have a dividend of £500, and a profit, perhaps, alone on Mr. Powell's traffic. As yet, the shareholders had got nothing; and he was now of the same opinion as he was last year respecting the facilities that should be allowed Mr. Powell in his transit of coals on the line. It was said that Mr. Powell meant to convey his coals by night. Now, that would involve such an expendi- ture as would absolutely eat up all the profits. The thing he thought a mere catch-penny. Besides, pilfering was not taken into account. Mr. Powell 8ay., that nothing will satisfy us but to carry his coal on our own terms. A SHAREHOLDER.—^The pilfering is at least two-pence per ton. Mr. T. EVANS would say nothing about it. Mr. Powell felt particularly sore respecting the alleged obstructions given him at the shipping place, were the company allowed him to erect his machinery, and yet they were able to ship cheaper. It would, however, be desirable to have him on the road, but not by a concession that should compromise the company. He really did not think it woul.,be either politic or judicious to make any undue concession in that head. The CHAIRMAN deprecated the introduction of any lan- guage that, by giving offence, would have the effect of j widening the breach between them. If Mr. Powell { finds it his interest to agree to their terms, they might count, ere long, on his adhesion. It was unpleasant to allow Mr. Powell to put an engine of bis own on the line. He was disposed to meet now fairly, even to the extent of a farthing per ton, dangerous as was the precedent. Looking at all the bearings of the case, he shouM b« glad to meet in an amicable spirit, nQtwitblltandg"; he should consult the interest* of the proprietory. Mr. COFFIN said, that he had for a long time interested .himself in the affaira of the company, the rise and progress of which was mainly attributable to the honourable gentleman near"him (the chairman). He felt considerable responsi- bility, and he thought he should be allowed to offer an observation on the subject before them. With respect to the committee exercising a just discretion in discharging their servant, the Act of Parliament gave them full power. That: discretion he apprehended was temperately, but firmly used, and used, he should say, in the exercise of an onerous and painful duty. He would just now imitate the example set them by their chairman, and abstain from touching upon any irritating topics. The gist of Mr. Vachell's proposition was, that the body of the directors should be subject to, and amenable to, a sub-committee; should that be carried, his suggestion to the proprietors would be, to resign and let their places andfunctions.be usufped by, perhaps, an inCa- pable suh-committee. Having said that much in discharge of his duty, though he would imitate the forbearance of their excellent chairman, yet, if necessary, he would not shrink from acting up to his own suggestion. He would, therefore, say no more on the subjeet. Mr. VACHELL feared, that after the observations of Mr Coffin, he had little hopes of influencing the meeting by any thing he could say. It was possible that the committee on Mr. Burgess's case might have come to an erroneous con- clusion. He thought that justice might have been used to a servant of the company, whose services in their hours of need were of much importance to them. Charges had been made against Mr. B. He should have been allowed to call his witnesses in rebuttal of them if these were substan- tiated, why let him take the consequences; if not, he cannot but fail to have the benefit of the investigation. Mr. HALL said he should support the proposition of Mr. Vachell for an inquiry, notwithstanding the weight thrown mto the scale by the eloquent deputy-chairman (Mr. Coffin). He had received numerous letters from several iron-masters and others, the tendency of which was to look for an investi- gation into the affairs of the company. With respect to Mr. Powell, he thought he should be let alone. His interest and his necessities would, at long run, oblige him to come to them. He would not consent to make a reduction of a Id. to anybody; no, not even to Sir John himself. As Mr. Evans said, let him alone. In conclusion, he would support Mr. Vachell's proposition as aline of conduct acceptable to the shareholders of Bristol, whom, on this occasion, he repre- sented. Mr. POOLE denied that Mr. Hall represented the majority of the shareholders of Bristol. MR. HALL said he was the representative, not only of the Bristol shareholders, but of others of Stroud, Wiltshire, and other places. Mr. RICHARD MORGAN regretted to hear Mr.Poole's state- ment. He believed Mr. Hall spoke the sentiments of thp Bristol holders. r Mr. POOLE—'I stand by my assertion. Mr. MORGAN regretted likewise to hear Mr. Coffin's remarks It might be convenient to make Mr. Burgess the 8C8fØ-goat,Amd h (Mr. that that gentleman bear off not only his own sins but those of the board' (hear.) "But enough had come out in the report itself to authorise a committee, and he thought it was extraordinary that Mr. Coffin should object to it, when he ought to be most anxious for investigation. To use a similar expression to one employed by Mr. Huskisson, it was a fact that twelve months ago the Directors were within 24 hours of bank- rupting the company —(hear, hear, and no, no.) The pro- prietors had received no divided for five or six years, and he. as being deeply interested in the undertaking, considering his means, most cordiallv joined in the resolution proposed by Mr. Vachell. Mr. EDY said, he had a letter from Mr. Powell stating, that he had no opportunity from the proprietory of bringing down his coal. He was told there was £70,000 expended to make a branch line to Mr. Powell's works. He gave the directors credit for having exerted themselves, but he thought they should not, inconsiderately, lay out so much of the company's money. He, for one, wondered how Mr. Powell' could think of departing from this line after having expended 10 much money on it. Mr. Powell's intention was to have brought the canal, as well as the shareholders, to his terms. He, for one, would not consent to abate him one penny. Sooner than do so, he was prepared to remain seven years without a dividend. The directors could not fail to perceive that some blame was attachable to them. Mr. COPFIN explained. He did not see how Mr. Powell could be called upon to do what neither himself nor the chairman were called upon to do. Mr. Powell was an im- portant person to the company; and he hoped no interrupt tion would be thrown in the way of his adhesion. In truth they were mutually in need of each other. However, they should stand as they were, and treat the subject as a dry matter of business. Mr. BURGESS thought he could offer some suggestions as to the best mode of proceeding with Mr. Powell. He thought it a bad principle to give way to anybody. If they set seriously to work and reduce their expense, they would then see how much cheaper they could treat with Mr. Powell than the canal. It would tend to brink him on the line. [Mr. Burgeas here entered into the detail of his dis. mission from the service of the company.] Mr. Coffin stated that ten of the directors had agreed upon his discharge. That was false. There were but 7 who agreed to it, and three others, who were not present, subsequently signed that resolution. When he was called into the room Sir John Guest told him. The CHAIRMAN. You were not taken by surprise, for you- were in the room before. Mr. BURGESS.—Sir J. Guest stated that the resolution I was unanimously come to. Was that justice t He could, assure the meeting, that from what he knew, it was worth while to institute a searching inquiry into the state of their affairs. They are not honestly conducted. (Sensation.) Mr. Burgess then proceeded to make imputations on a part of the proprietory, in which partiality to them was charged to the prejudice of the company. He further al- luded to a charge of Mr. Coffin's, made on the 4th January," that he (Mr. Burgess) was in partnership with some of the," proprietors. Mr. COFFIN denied having made such an imputation. ? Mr. BURGESS said he had the authority of a Mr. Lewis for the imputation. That gentleman, on being appealed to by Mr. Burgess for the truth of the allegation, denied, with much warmth, that he ever said so. Considerable confusion arose here, and some recrimination, Mr. Burgess contending that if the facts charged were not told him by the individual' who disclaimed having made the communication yet they found the subject of pretty general conversation about the town. Mr. CARLISLE explained the mode in which the committee had come to the resolution of discharging Mr. Burgess. Though seven members were actually engaged in deliberat- ing on the subject, the three others who had separately perused the resolution come to and who were cognizant of all the alleged facts of the case, were quite unanimous with the other seven, so that, virtually, the resolution condemna- tory of Mr. Burge.s was the express and unanimous act of the ten members. Mr. VAUGHAN was of opinion, that as the insinuations and charges made by Mr. Burgess affected the proprietors, the resolution of Mr. Vachell for a committee of inquiry ought to be carried without one dissentient voice. Mr. BURGESS said he came there to vindicate his conduct, and the proprietors, if they took the trouble, would find much to inquire into. Mr. SCALE pointed out apparent discrepancy in the balance, that of the company, and urged that irregularity as a pressing motive for inquiry. He had come prepared with an amendment, which had for its object an arrangement of their difference with Mr. Powell, but he would not now propose it to the meeting. Mr. BURGESS satisfactorily explained what appeared to be a discrepancy in the accounts, with which the meeting ap- peared to be satisfied. The CHAIRMAN said it was desirable, if possible, to forget everything that Mr. Burgess had said. If there was any thing reprehensible in the charges urged by him, they should have been brought forward before. Mr. BURGESS said he had spoken to Sir J. Guest on the subject. The CHAIRMAN said, the only question now was, whether a committee should Tie appointed for the objects of Mr. Vachell's resolution. It was not, perhaps, an orderly course in the opinion of some, he, for one, did not think so. The shareholders felt dispirited at the want of a dividend, coupled with that circumstance there were so many vague and undefined reports abroad, that he thought it necessary, in particular, to give Mr. Burgess the benefit of the inquiry sought. Sir GEORGE TYLER said, that if the meeting objected to their present directory, they should do so openly. These gentlemen had done their duty; and if no dividend was forthcoming it was not their fault. But the investigation into the reasons for the discharge of their servant was a separate affair, and ought, he thought, form the subject of deliberation of a separate committee. To be sure, if Mr. Burgess had acted wrong, the directory had a discretionary power to. discharge him. Honesty of purpose should induce them to give Mr. Burgess the benefit of an inquiry. Instead, therefore, of complicating the subject, if they were to go into it at all, the case of Mr. Powell should call for a separate inquiry. Should that committee be granted, he would move as an instruction to it, that they confine them- selves exclusively to an inquiry into Mr. Burgess's case. The resolution was then put, when there appeared- For the resolution 19 Against. 17 T Majority 2 Mr. JAMES demanded a poll, when Mr. HALL, with much warmth, characterised it as un- English. Several proprietors expressed themselves warmly on the subject. Tlje result of the poll gave- Shares. For the amendment, which had for its object an inquiry into the affairs of the com- pany, embracing one into Mr. Burgess's case 210J Against the amendment, and for the original motion, that the report be read and v i adopted. li921- Majority for receiving the report. 1382 Vv, — NtrG. TYLER urged again the necessity of a separate in- .,4uiV into the case of Mr. Burgess. His own opinion in the ability and integrity of the proprietors was unshaken yet in order to satisfy people out of doors, as well as the ,great body of the proprietors, he thought such an inquiry ,might be gone into. Mr. HALL moved, and Mr. EDT seconded, a resolution, that irrespective of a general inquiry into the affairs of the company, a particular investigation ought to be made into Mr. Burgess's case. The question on Sir G. Tyler's amendment was then put, when there appeared I For it 11 Agaiast 22 Amendment negatived The remainder of the sitting was occupied with desultory conversation, in which entire confidence was professed in the management of the directors. An opinion was casaally expressed as to the propriety of going into an inquiry 011 Mr. Burgess's case. This latter opinion, however, was generally overruled by the great bulk of the proprietors, who thought such inquiry unnecessary. Mr. HALL, however, persisted in pressing his amendment, which, on a scrutiny, was lost by 1152 to 877 shares. Mr. BEVAN said he did not intend addressing the meeting, but fearing that a falsa impression may go abroad, from the calculation of the relative costs of the canal and the railroad, as given by Mr. Thomas Evans, he thought it right to state, that such calculations were not correct. He came there prepared to enter into the particulars of Mr. Powell's calcu- lations of the difference of cost of btinging his coal down the canal and railway, which calculations would show a difference in favonr of the former, an equivalent to which difference Mr. Powell asks you to allow him but observing the feeling which has existed in the meeting of not treating the dispute between Mr. Powell and the company as a matter of busi- ness, but entirely as one of feeling, he refrained from making any remarks. The CHAIRMAN requested Mr. Bevan to express to Mr. Powell, for himself, the directors, and the meeting generally, that they entertained the best feeling towards him, and that they would be happy to meet his views, as far as they possibly could. That as regarded the speed, they were prepared to travel at the rate of twelve miles per hour, or slower if Mr. P. wished it. He should have been most happy to have seen Mr. Powell at the meeting that day. The cordial and unanimous thanks of the meeting pro- posed by Mr. James, and seconded by Mr. Ruddall, to Sir John Guest, for his dignified and impartial manner in the chair, was carried by acclamation, and the meeting separated. THE SEES OF ST. ASAPH ANn BANGOR.—The name of the Rev. Robert Wilson Evans, Author of The Rectory of Valehead," &c., will, we trust, secure for his pamphlet, entitled An Appeal against the Union of the Dioceses of Bafcgoc and St. Asaph," {ILivington) that attention- to which its own merits, and the gravity of its cause, so amply entitle it. We do not believe that the parties who originally proposed the measure, are now otherwise than disposed to abandon it, if they find the feeling of the clergy, and the church at large, to be decidedly adverse to it. Let us re- member how the See of Sodor and Man was saved, and take courage. Christian Remembrancer for February. [The able article on the subject of the Union of the Welsh Sees, in the last number of the British Critic, has been re- printed for private circulation. CONVERSION.—The Leicester Journal says-Our readers, and indeed every lover of sound Catholicism, will rejoice to hear that the Church of Rome is about to receive a signal blow in the defection of the Rev. Mr. Oxley, who has offi- ciated as priest fir twenty years in Leeds, Leicester, &c. We understand he has been long in making up his mind to this step but his resolve is now firmly and unalterably made. "The Great Prize" offered by the Welsh Manuscript Society for the next Eisteddfod (1845) has been proposed by the learned Dr. Prichard of Bristol. It is— For the best Essay -on the Comparative Merits of Ancient Literature in the Welsh and Irish Languages, and thair value in elucidating the ancient history and mental cultivation of the Inhabitants of Britain, Ireland, and Gaul." HER MAJESTY'S ACCOUCHEMENT.-It is rumoured that the wet-nurse engaged to be in readiness to foster the forth- coming scion of royalty will probably be selected from the rural neighbourhood of Banbury. The lady named as likely to succeed to the appointment is Mrs. Willifer, a farmer's daughter-one of a numerous family. Mrs. Willi- fer is a fine, healthy young woman, is the mother of two children, and has always lived in a retired country village has been strongly recommended to Sir James Clarke, and her Majesty's medical advisers, by Dr. S. Wise, of Banbury, as remarkably eligible for the office. The husband of Mrs. Willifer is a small farmer, and son of the bailiff of Mr. R. Cartwright, M.P., Aynhol Park. IMPORTANT TO MALTSTERS, CORNFACTORS AND THEIR SURETIES.—In the Court of Exchequer last week, the Lord Chief Baron decided (in the case of the Queen v. Trueman and another) that all malt and other property belonging to a maltster, with all other excisable commodities, into whose hands they may have passed, or under whatever circumstances they may be held (except that of a bona fide sale), is still liable to the Crown for duties upon it, or for arrears of duty, and can be no security whatever to any person advancing money thereon. It is also equally clear that the Crown will never call upon the sureties, so long as there is any other property to be found.