MISCELLANEOUS.

New Zealand Spectator and Cook's Strait Guardian, Volume VI, Issue 506, 8 June 1850, Page 4

MISCELLANEOUS.

> > Me. Hudson. — The report of the meeting of the York, Newcastle, and Railway, to arrange respecting -the purchase of

the Great Northern line and the. compromise with Mr. Hudson, was read to-day with much interest. The pui chase of the Great Northern was agreed to on terms which will spread the payments over a period, of six years, and the extent of restitution proposed by Mr. Hudson was then made tjbe subject of an animated discussion. In October last bills of discovery were filed against him in Chancery, and, in consequence of this, a negotiation was opened by parties in his behalf to settle the matter by, a composition. The, terms ultimately, offered and now recommended to th c meeting, for, acceptance were, a payment of £50,000 for the various misappropriations detailed in the report of the committee of investigation, the surrender, of tie; Sunderland Dock Company for £15,000, ai><| a further payment of £26,037 10s. for the misapplication of the funds of the railway, toy the purchase of shares in that concern. The, total would thus amount to £91,000, while the estimate of the sum of which the share-, holders had been deprived was between £i 40,000 and £200,000. At first, the dis- t , position of the meeting was against the offer, the conviction being that Mr. Hudson would not have agreed to pay any amount which, was not far short of what he knew he could, be compelled to pay ; but an intimation from the directors, which seemed to hint as, plainly, as the confidential nature of their late.negociations would allow, that they bad ascertained Mr. Hudson's intentions or financial position to be by no means such as to warrant the refusal of an immediate payment with ths, hope of obtaining more at future day, caused at length an almost unanimous* vote for its acceptance. "Keep in mind, gentlemen," observed one of the directors, "we are not the only parties to whom Mr. Hudson owes money. If you asked me if what Mr. Hudson hasoffered was enough, I say at once I do not believe it is half enough ; but if you ask me if it is as much as we are likely to get, that alters the question." One of the conditions of the present arrangement was that the shareholders were to give an immediate answer, ar^d, if they refused the money, Mr. .Hudson might go to others who would take it once. The chairman was acquainted with facts which he was precluded from mentioning, but they were such as to induce him to take the full responsibility of recommending the agreement, and if the sbareho ders should allow their feelings to predominate over their judgment, and reject it, "he could not allow them to vote without telling them, openly and honestly, that in February next they might find the bird was flown." It was further stated that, as security for the payments Mr. Hudson would hand over to the company the title-deeds of the unencumbered estate, and that he was likewise to pay the expenses to which the company had been put to in proceeding against him. There were also a note for £8000, and the several calls on the shares in his name, which would be paid in full, while ihe dividends due to him on a great number of shares were to he given up; so that the, aggregate amount recovered for the company would exceed £100,000. In conclusion, the fact was adverted to, that but for the conduct of Mr. Prance and Mr. Love, and the general energy of the committee of investigation, much of the money which had been recovered would never have been heard of. At the same time an announcement was made by ,a shareholder, and received with approval, that he had prepared a petition to the House of Commons, praying "that the causes of the depreciation of railway property should be,, investigated, and that, if such a depreciation, should seem attributable to the dishonourable conduct of George Hudson, he should be ex- * pelled the house."

Electric Telegraph between France and England. — The concession signed by Louis Napoleon and the Minister o of the Interior, M. Dufaure, granting to Messrs. J. Brett, Toche, .& Co., the right' to establish, an electric telegraph line between France and England, by a sub-marine communication across the channel, arrived in town on- Mon-, day. The company propose to establish, ; by< , means of the electric telegraph, . an instant communication between the two countries.. . The paten.tee guarantees that this telegraph ■ shall, by the aid of a single wire and ofjtwo : persons only (the one stationed in France, and the other in England), be capable of printing, in clear Roman type, (on paper), 100 , messages, of 15 words each, including^ addresses and signatures, all ready for'^delivery in 100 consecutive minutei.