The Sun. — London, England, 1842-02-25 00:00:00

SUNDAY TRAVELLING. EDINBURGH AND GLASGOW RAILWAY. The half-yearly meeting of the Shareholders of this Railway, took place on the 20. d inst., in the Company's Office, Glasgow. About 150 persons were present, a great number of them tending proxies for absent Shareholders from all parts of the kingdom. Mr. Laensirrea in the Chair, The Report of the Directors having been read, a series of dig.. cussions took place upon various points arising out of that docu ment, and attempts were made, on the part of Mr. Makgill Crichton, and a rew others--first, to move a vote of censure upon those of the Directors who were known to be favourable to Sunday travelling ; and next, to turn them out of the Direction, in order to make way for others holding different views on this subject ; but in both instances they were completely foiled, and the old Direc tors re-elected. The business of the general meeting having been finished, the Shareholders then constituted themselves into a special meeting, for the consideration of the question of running trains on the Sunday. The CHAIRMker stated that several deputations were in waiting with memorials on the subject, which they were enxious to present to the Shareholders in person. This he thought might be per mitted as a matter of courtesy, but with the distinct understanding that they should not occupy more than half an hour.—(Cries of " Agreed, agreed.") The Chairman added that he had received 203 memorials on the same subject, all urging the Sharehoiders not to permit any travelling on the line on Sunday, and six in favour of Sunday travelling. He had also received a communication from Dundee, which he had been requested to read, announcing that the Shareholders of the Dundee and Arbroath Railway had, at their meeting on Monday, rejected the proposal to run a train for pas. 1 sengers on Sunday by a majority of 34. The various deputations were then admitted, consisting chiefly of about thirty or forty Established and Dissenting clergymen, connected with Edinburge, Glasgow, Paisley, Ser. Mr. W. COLLINS, bookseller, who seemed to act as the Secre tary of the whole deputation., stated that the largest portion of the memorials were already in the hands of the Secretary or the Shareholders, and that only a few remained to be presented by the deputations. The first memorial to be presented was from the Commission of the General Assembly. The Rev. Dr. DICKSON, of Edinburgh, then came forward and said—We feel indebted to your courtesy for admitting us to your meeting this day. I appear here as the representative of the Corn. essieree of the Commission of the General Assembly of the Church of Scotland appointed to watch over the progress of your splendid operation!, and particularly with reference to the apprehensions we entertain that your Railway might be employed to desecrate the Lord's Day. The memorial from the Gornmsssion was some time ago printed and circulated among the Shareholders, so that it is quite unnecessary for me to do more than merely lay the document upon your table ; but I may state generally that it contains to a certain extent an indication of the anxiety with which the Church of Scotland wait for your deci. lion this day. We apprehend the most dismal consequences from any part of that day, which was consecrated from the beginning by God himself, and sanctioned by the authority of our Divine Re deemer, being employed in secular purposes, and more espe cially for the purposes of traffic and trade. Nil, P e give full au thority—because we are authorised to do so by our Divine Re deemer—to works of necessity and mercy on that day; but it appears to us that travelling on the railway can in no wise be considered as coming under the descripticn either of neces sity or mercy. We have not only looked with anxiety to the de cision of this day, but we have not been unmindful of the neces sity of lifting up our hearts in prayer privately, and of calling upon our congregations to join us in supplications publicly, that God would put it into the hearts of our countrymen to abstain from doing what you well know we consider as a great sin, and conse quently from bringing the judgments of God upon our beloved country. I have only in conclusion to express my earnest hope and prayer that God would direct your decision that day so as to prevent the evils which we deprecate.—(Hear, hear.) Memorials were then presented by the Rev. Mr. Macfarlane of Renfrew, from the Synod of Glasgow and Ayr, and from all the Kirk Sessions within its bounds; by the Rev. Dr. Ifeugh, from the United Secession Presbytery of Glasgow; by the Rev. Mr. Fowler, from the Presbytery of Glasgow; by the Rev. Dr. Burns, ti om the Presbytery of Paisley; and from the United Kirk Sessions of Pais ley ; by the Rev. Mr. Stogie, from the Presbytery of Dumbarton, and from nineteen Kirk Sessions within its bounds; by the Rev. Dr. Symington, from eight different bodies connected with the Reformed Presbyterian Synod ; by the Rev. Mr. Simon, from the Methodists of the Glasgow Circuit ; by Mr. Martin, from the inha. bitants of Greenock, &c. Mr. COLLINS stated that the declaration threatening to withhold support from the Railway, if opened on the Sabbath, had been signed by 214,113 individuals, and that many of the memorialists would have signed this declaratiun also, but for a feeling of delicacy to wards the Shareholders, and a hope that it would be unnecessary. Mr. Collins then proceeded to say—This is an eventful day for our beloved country. The eyes of the people of Scotland are turned with deep and increasing interest on your proceedings; and it de pends ore you to impress deep grief on their spirits, or to diffuse gladness throughout the whole Christian community of Scot. land. From our earliest infancy we have been taught to lisp and to know upon the authority of God's word, that the deca logue contained ten commandments, and is it Christian Scotland, which has been so long distinguished among the nations for its ob. servance of that holy day—is it, I say, in Christian Scotland that we are to be told for the first time, that there are only nine com mandments in God's holy decalogue ? I pray you to recollect also the solemn circumstances connected with this event. The com mandments were written with the finger of God upon tables of stone, to indicate their enduring character and immutability. Will you then seek to erase from these tables one of the commandments which God has inscribed with his own finger. I pray you to ponder deeply the step you are now about to take. My earnest prayer to God is, that He would inscribe this commandment upon the fleshly tablets of your hearts now, that so you may be led to obey His statutes, to do honour to His holy day, and to protect the inhabit. ants of our belovedcountry in the peaceful and undisturbed enjoy ment of their holy Sabbaths. The deputation on that side of the question then retired. The only deputation on the other side, was Mr. Alexander, Greenock, Who presented a memorial from 1,806 inhabitants of that town, setting forth the advantages that would accrue, both as re spects the observance of the Sabbath and the health of the work ing classes, by the opening of the Railway upon that day. Mr. Alexander added that the signatures had been procured in the course or eight days, and without any of the canvassing or concussion which had been so extensively emploied on the other side ; so that the memorial be had the honour to present might safely be taken as a far more accurate indication of the opinion of the people of Gree nock than the other. Sir ANDREW Aexew, in his own name, and in the name of all who should adhere to him, then gave in a protest against the running of trains on Sunday, as opposed to the ancient statutes of the realm; and against the funds and stock ofthe Company being liable for defending any action that might be raised against the Company on that point. The following gentleman adhered to the protest, and with Sir Andrew, took instruments in the clerk's hands :—Mr. Makgill Crichton, Mr. James Bridges, Rev. Mr. Dempster of Denny, Rev. John Ferguson, of Monievaird ; Rev. Dr. Keith, of St. Cyrus ; Mr. Charles Philip, Mr. Charles Cowan, Mr. W. Campbell, Dr. George Smyttan, General Pittman, Mr. P. Dalmahoy, Mr. James Craig, and Mr. W. G. Cassells. The CHAIRMAN then expressed a hope that in the discussion about to take place, the speakers would avoid asperity in their remarks, and be as brief as possible.--.:.(Hear, hear.) Mr. M'eletet said, as the person who had given notice of the motion for to-day, he was perfectly ready, if the meeting chose, to go to a vote at once, without a single observation. Mr. MAKGILI. CRICHTON objected to this proposal. It would be a disgrace to permit this great national and religious question to be passed over without a discussion. Mr. Weleree--We'l, if the meeting will have a discussinn, I am ready to proceed, but, for my part, I think the subject is en tirely exhausted. 1 think you did right, in point of' courtesy, in hearing those gentlemen to-day, who thought they could impress considerations upon us calculated to sway our minds ; but I appeal to the judgment of every person within this room, whether, after all the time that has been consumed, after all the warmth that has been expressed, and all the eloquence that has been exhibited, one scintillation of fresh light has been thrown upon this vexed and much debated ques tion.—(Hear, hear, hear.) From the respect to the individuals who sent them, I thought it my duty carefully to peruse every docu. • extent which has been submitted to me on the subject ; and I must candidly say, that after the best consideration I have been able to give them, after the best advice I have been able to procure, I have not seen it my'duty to depart one inch, either from the position I took up before, or from the views which I previously briefly submitted to the Board. As my views then remain un changed, I shall not detain you by the repetition of them. In fact, if the matter had been left to me, I should not have troubled you with any remarks at all, because I have not the vanity or pre sumption to think that anything that I could say could alter your minds either one way or the other ; for I have no doubt that every man who entered the room this morning, came with the determination to vote in a particular way. But there are one or two considerations, which have been pressed upon our attention to-day, which it may be as well should not be left unnoticed or unanswered. I am wilting to deal with the considerations which they say ought to be conclu sive with us, If I believed that public opinion was against us— meaning thereby the opinion of the quiet, thinking, and I will add the serous part of the community—l would not press such a mo tion. We must all bow to the omnipotence of public opinion ; but I recognise in public opinion something very different from the cla nour and declamation of public meetings orthe signatures pro cured to the documents before us. I demur to the proposition that there is anything like a general or universal opinion against us on this question. The memorialists are no doubt numerous; but if they are as numerous as they say they are, how comes it that soli!' ail know there is not a single organ of the the public press '-'-with the exception of that small portion of it which advocates a 'particular systent of eheirch policy—which expresses this opinion Upon the subject of these memorials, I confess I feel not a little 'distressed ; f I have never been in the habit of impugning the motives of any man who takes a different view of the question .from. me. But I cannot shut my c yes to the testimony of facts which are staring me In the face, that of these memorials before you, it is scarcely possible to look at one without being convinced ,hat it is teeming with forgeries.—( Great sensation ; cries of "Shame, shame,' " Hear, bear," " Chair, chair.") 1 4 tiernerassere—That is a strong expression you have used, Mr. and I hope you have not made it without being prepared to prove it —( Hear, hear.) Mr, lit'lielee —lt is a strong expression, Mr. Chairman; but I cannot call facts by any other than their right name.— (" Hear, hear," " Proof, proof.") Here is the proof (holding up a long list of names) Here is the proof in the very first petition .which I take up, which contains fifty or sixty names all in the same handwriting.—(Great cheering. Mr. here handed the petition to the Chairman.) The CHAIRMAN—The names do appear to be all in the same handwriting; but this must surely be a copy of the original petition. Mr, M'NEILL—Sir, it is the original petition itself. It contains oneor two genuine signatures; but the rest are all forgeries. Sir ANDREW Acevew then examined the petition, and read the name of the clergyman hom whom it came—Rev. Mr. Glass, Carronshlre. Mr .. Meitelitee Citroen:en maintained that, even if Mr. M`Neill's a. scrtnto flee were tru e , i t did not prove forgery,—(Hear.) o lee motion of one of the Shareholders Mr. words were taken down by the clerk. Mr. Weimer —Of course, I know nothing of the individuals in this place; but it really looks as if the list had been taken out of some Directory._(r esseighter ) There are, for instance, five or six Marshal's, about a d ozen of Jenkins, and about half -a-dozen of Wilsons. (Mr. Mack g il l Ctichton "Very natural.") Oh I very natural. —( Laughter .) But I don't l eave my charge upon this vague statement. Mr. Hamilton has looked into the petitions with more care than myself, and he informs me that hardly one of them is different —(siee. r, hear.) I must say Ido not we nder at the number of signatures when I think of the means that have been a d opted to procurethem—when I think even of the money that appears to have been ex pended in obtaining them. 1 53 W a document this morning in Edin b urg !, setting forth that if every ono who had signed the declaration would pay a shilling each . there would be An ample fund to pay expenses. Now I believe it is said that greatly upwards of 100,000 persons have signed that docu ment ;'so that the stem required would appear to be between five and six thousand pounds.—(Hear, hear.) We all know also that never in our memory has there been such coercion exercised; us and continued oppression much severe, and strenuous, , practised aspen Servants, childre n, : footmen, and dependents, to procure their signatures, and whose names, when procured, have been os. tentatieusly paraded as the free expression of the opinion of the merchants and bankers of Edinburgh.—( laughter.) But snore than that, one Rev, Gentleman actually goes the length at boasting that he had got the names of all the paupers in his parish ; as if persons in that condition could do anything else -but what.the-minister and kirk.session commanded them to de. Mr. Feasauson rose to explain, but was Interrupt ed with c ri es of "Order, order," " Chair, chair." ) tr , Itelestee, in connection with this point, a lso read a letter seems Iliaekloek writer , Cal'endar , stating that out of two or Morsl u ,nnes procured in that parish, fifty were those liwitsn aid. He then proceeded three tuft4"4 t—God that I should say that the poop man, be his poverty what it may, shall not be entitled to approach us on this or any other sub-. ject ; but when we couple one thing with another, shall we be told to take the opinion of persons so influenced for the guidance of our conduct, as that of the plain, honest, intelligent opinion of the people of Scotland.—(Hear, hear.) I shall not enter upon the consideration of the religious part of this question—not 1 that I have any doubt upon this point; but I do deprecate in meetings of a popular kind like this, the discussion of subjects upon which I think men form the soundest con clusions when they consider them calmly and dispassion ately at their closets, with the aid of such lights as they can get, I l rather than in the heat, pressure, and agitation of publio meetings. —(Hear, hear.) I repeat, then, that I shall not enter upon the theological part of the question ; but I must say, that I cannot believe that the people of England —a people as moral, as intelli gent, and as well guided as the people of Scotland in every respect _I cannot believe that a vast majority of that people have come to the conclusions on this subject to which they have come in the face of God 's precepts, in the face of the teachings they have re ceived, and the lights which have been communicated to them as well as to us. A few years back there was a bill passed to compel railways to carry the mail on Sundays—(Mr. M. Crich . ton, " No, no.") I am ready to bow in all things compe. tent to Mr. Crichton ; but perhaps it would be better if he would reserve his negatives till he comes to the proof.—(Hear, hear.) That Bill passed without a single remonstrance from a I set of men as holy, as learned, and as pious, as ever adorned I any age or any church. Did it meet with a single remonstrance 1 from the venerable bead of Protestant Christianity P Did It meet with a single remonstrance from the learned and pious Bishop of London, who, in his evidence before a Committee of the House of Commons some years ago, said he could not condemn Sunday I travelling ?—(Hear, hear.) Shall it be said, then, in these cir curnstauces—when this great undertaking has been achieved, in a great measure, by the money of the people of England—for poor Scotland was unable to raise the million and a half neces sary for the great work, and two-thirds of the capital has come from England—shall it be said that, having got their money, and without any intimation that we were to shut the railway on Sundays, we will come to a resolu tion to shut it on that day because our religious views do not con cur with theirs ? I may be told that this is not a safe argument— that this is a Scotch concern, and ought to be governed by Scottish views and interests. I deny it. I say it is a British concern; but if you act, as some gentlemen now propose, can you ever again ex pect to be able to make another railway in Scotland, or finger another shilling of English capital ?—(Hear, hear.) We are told by some of those excellent and worthy gentlemen whom we had here to-day, and who pass their time chiefly in their closets, that to open the railway on Sunday would change the character of Scotland. Sir, I desire to change the character of Scotland in its bad parts. Mr, M'Neill here proceeded to quote the opinions of Bailie Johnston of Edinburgh and Sheriff Alison of Glasgow with respect to the drunkenness which prevailed in these two cities on Sunday ; and to argue that the railway offered the means of greatly improving the habits ',of this class of the community. He also quoted the opinion of Sir Charles Shaw, the Superintendent of Police at Manchester, to show the good effects which had followed the opening of the railway in that part of England. There was testimony to the same effect from Newcastle and Carlisle. These things weighed with him. He did not undervalue the testimony of thp Rev. Gentlemen who had that day addressed them ; but he agreed with the observation that had been made not long since, that it was not the men that spoke, but the cloth.—(Cheers.) He also read a letter from Mr. Routh, Chairman of the Blackwell Rail way Company, bearing testimony to the good order which prevailed on that railway on Sundays. If this measure is carried (proceeded Mr. M'Neill) I may state that it is the intention of the Directors to institute such a strict system of police as will completely prevent anything like drunkenness or disorder on the line.—(Hear, hear.) In the protest given in by Sir Andrew Agnew—than whom a more honest, single-hearted individuals was, I believe, never engaged in a public cause—it was alleged that the running of trains on Sunday was contrary to the Statute-law of the land. Let Sir Andrew bring this to the test. I desire nothing more than to have this question brought to the test of the calm and dispassionate judgment of those whose duty it is to expound the law; and I only hope that Mr. M. Crichton and his friends will give us their word that they will give obedience to their judgment when ob. tained.—(Hear, hear, and laughter.) There is a threat held out to us that this agitation will be continued if we do not yield to it now; but if it is, I sincerely hope that they will find in the united front of the Shareholders, both in England and Scr.t_ land, a wall of opposition that they will never be able to overtop.— (Cheers.) lam quite aware that we shall be held up as irreligious men—as men who have been guilty of a wicked act. But if we are convinced that we have done our duty, we shall at least have as much satisfaction as these gentlemen themselves, to whom I accord the same credit of sincerity which I claim for myself— the satisfaction that we have done our duty, and carried along with us the public feeling of all those whose good opinion it is at all times desirable to obtain.—(Loud cheers.) Mr. M'Neill concluded by moving the resolution of which he had formerly given notice:—" Whereas it is the duty of the Directors of this Company to give implicit obedience to the law of God, and the law of the land, in the management of the affairs of the Company —and whereas it is the duty of the Directors to afford the fullest ac commodation to the public in the use of the Railway, which the public exigencies require, provided always they do not violate the law of God, or the law of the land. This meeting resolves, that is is not inconsistent with the duty of the Directors, as aforesaid, and they are hereby enjoined, to provide trains to be run from the cities of Edinburgh and Glasgow respectively, in the morning and in the evening of Sunday; but under such rules and regulations as to the times of departure and arrival, as may enable the servants of the Company, and persons bevelling along the railway, to attend divine service." This resolution was seconded by Mr. EAGLE HENDERSON. A number of other Shareholders then addressed the meeting, but Mr. M`Neill had exhausted the subject, and on a division the num. hers stood thus Shares. Voters. For Sunday-trains ... 7589 ... 1219 Against ditto Majority for Sunday-traina .... 4113 ... 571 GREAT MEETING CESTER. AT GLOU- UNION OF THE MIDDLE AND WORKING- CLASSES. (FROM OUR Own CORIUMPOITMENT.) - GLOUCESTER, WEDNESDAY NlOHT.—Great excitement has ex isted in this city since Sir R. Peel's mountain has delivered itself of the " sliding scale." Last week a requisition signed by a number of the most influential and respectable inhabitants of the city was pre sented to the Mayor, W. M. Meyler, Esq., who, in compliance therewith, called a meeting of the citizens, which was held this evening in the large room of the Shire-hall, which accommodated about 4,000 persons. The room was densely crowded, and a great number were assembled in the passages leading to the Courts, who were unable to obtain admission to the meeting. Shortly after seven o'clock, the chair was taken by J. P. Herne, the City sheriff, (in the absence of the worthy Mayor, who was pre vented attending through indisposition). [We are sorry we have not room for the speeches, which were very voluminous, powerful, and argumentative.] The Rev. J. RODWAY proposed a resolution to the following ef. feet:—" That by the conduct of Sir R. Peel, and his colleagues, in supporting the selfish monopoly of the landed interest, they have proved themselves no longer worthy the confidence of the Sovereign or the support of the people." This resolution was seconded by THOMAS STURGE, Esq., and carried unanimously. The Rev. Mr. BREWER moved the adoption of a memorial to her Majesty, praying her to dismiss her present Ministers. He declared that he was equally opposed to the sliding scale of Sir R. Peel, and the fixed duty of Lord J. Russell. (This announcement was re ceived with loud cheers.) S. BOWLEY, Esq., seconded the memorial, and said that they were convinced of the injustice of the Corn-laws, and they must now unite to remove them, which be considered could only be done by changing the constitution of the House of Commons. The memorial was put by the Chairman, and carried by accla mation. Mr. KNOWLES, after a long and powerful speech, proposed the following resolution :—" That it is the opinion of this meeting that the only way of repealing the Corn.laws, and all other monopolies that oppress the many for the benefit of the few, is by destroying their cause—class legislation ; which can only be effected by the working classes being fully, fairly, and freely represented in the Commons' House of Parliament." Mr. BIININGTON seconded this resolution, which, on being put by the Sheriff, was carried amidst loud cheers. Votes of thanks were then given to Captain Berkeley and J. Philpotts, Esq., the Members for the city. Mr. SIDAWAY proposed, and Mr. KNOWLES seconded, a vote of thanks to the Chairman, and the meeting concluded shortly before eleven o'clock.—Dr. Cother, a celebrated Tory of the toy n, had declared his intention of proposing a resolution in favour of the Corn laws ; but when called on by some persons in the body of the meeting, " echo answered, Where ?" The worthy doctor, like a wise physician, refused to swallow the dose prepared for him, and quietly "elided" away, "unnoticed and unknown." The men of Gloucestershire are up, and prepared to assist in the coming struggle. A crowded meeting was also held in Cheltenham to hear Mr. Leach, of Manchester, at the Mechanics' Institution ; and but one spirit appears to prevail throughout the county--opposition to monopoly, and annihilation to monopolists and tyranny. The General Steam Navigation Company's vessel the Columbine, from Rotterdam, arrived off the Custom-house yesterday at eleven o'clock, a.m., with the Dutch mail. . . _ We are authorised to state that the Mr. John Robertson, who has been engaged in a correspondence with Mr. Borthwick , M.P., is not the gentleman of that name long con nected with the City and a Director of the Blackwall Railway. MADEMOISELLE DEJAZET AND THE NOVEL OF " FASCINATION."—A peculiar interest attaches to the novel of " Fascination," which bas just appeared, edited by Mrs. Gore. A clever dramatic piece founded on the story, has been selected for the debut of the celebrated Mademoiselle Dejazet at the French Play : in order to appreciate which, it will be necessary for all the frequenters of that fashionable entertainment to peruse the romance, a work of the most original and piquant nature. SIR HENRY MORGAN THE BUCCANEER.—WV will not mar by anticipation (says a contemporary journal) the extraor.. dinar,' interest of this work as a narrative, but merely state that its hero, Sir Henry Morgan, was known throughout Europe at the latter end of the seventeenth century, as the boldest, most skilful, and most fortunate of those buccaneering chiefs, who were called into action by the then extraordinary condition of Spain and her colonies, and which, added to the war between England and Spain, caused the name of pirate or buccaneer to sound by no means so harsh to " ears polite," as it may at present. In fact, buccaneer as he was, Sir Henry Morgan came honestly and honourably by his knighthood, and for some time bore the commission of an admiral in the British Navy, and was appointed, at nearly the close of his career, Governor of Jamaica; and that he moved in the highest society of England at the period just referred to is unquestionable. With regard to the fictitious portion of this singular work, it is managed with great skill, and is only resorted to in connection with those features of the narrative which are of a private and personal nature. The loves, the friendships, the enmities, the family ties, and associations, B:c., of the hero, are merely brought in aid of the main design, which is that of a bona fide record of the leading actions and the public career of the most distinguished ruffian that perhaps ever lived. - - SIGHT AND HEARlNG.—Patronized by their Majesties the King and Queen of Hanover, and their Royal Highnesses the late Princess Augusta, the Princess Sophia, her Serene Highness the Princess Esterhazy, the Princesses Mary and Rosa, her Grace the Dowager Duchess of Bed ford, and their Graces the Archbishop of Canterbury, and the Dukes of Norfolk, Devonshire, Manchester, and Marlborough, Marquises of Hertford, Londonderry, Sligo, and Thomond, Earls of Shaftesbury, Tankerville, Harewood, Powis, Bradford, Wick low, Verolam, flarrowby, Buckinghamshire, Meath, Somers, Ox ford, Lisburne, and Ferrers, Bishops of Exeter, Blandford, Lincoln, Cork, Elphin, and Kildare, Lords Hill, Cowley, &c. &c. In addition to the above distinguished patronage to the Newly- Invented Spectacle Lenses and Sound Magnifiers Invisible- Operative Voice Conductor, Messrs. S. and B. Solomons, 39, Albemarle-street, Piccadilly, opposite the York Hotel, and 76, King William-street, City, state that their valuable inventions have also gained the sanction and unqualified approbation of above four hundred of the principal members of the medical profession. Imme diately these Newly.invented Spectacle Lenses are placed before extremely imperfect vision, that mist and dullness which appear before the eyes is at once removed, every object be. comes clear and distinct, so that the most aged imperfect sight be. comes bright and brilliant, and is brought to its youthful, natural, and original state. Their Invisible Operative Voice Conductor Sound Magnifiers for deaf persons, is not the least perceptible nor uncomfortable ; they give immediate relief to old standing extreme cases of deafness, and the faintest whisper at a public assemblytt heard with exact distinctness. To be had only at 39, Albemarle street, opposite,. the York Hotel, and 76, King William.street, City.—No connection with in Ireland. persons of the same name , particularly The chefs d'atelier of Lyons, to the number of 4,000, have signed a petition to the Chamber of Deputies, praying for a reform of the institution of prud'hornmes. THE SUN, LONDON, FRIDAY MORNING, FEBRUARY 25, 1842. " the locomotive expenditure was charged to the capital account. ! Was the amount of 120,60-11: expended for locomotive car riages, &c , within the last half year, for articles entirely new ? The CHAIRMAN —Nothing has been charged to the capital account except for what is entirely new, Mr. Caosnrwanre—What is our present stock of engines? The CHAIRMAN—One, hundred and seven. Mr. CROSTIMAITE--Are b'3 , all paid for? The CHAIRMAN —Nearly so. There may be some small sums outstanding, but their amount is very trifling. Mr. CROS'PIIWAITE—How many more have been ordered? The CHAIRMAN—Twenty-one, which will make one hun t dred and twenty ht in all. Mr. CROSTIIWMTE—Do you think that will be all that will be required. The CH A IRMA N think that number will be perfectlyade quate, but Mr. Brunel can perhaps furnish the Hon. Proprietor with more accurate information than I can. • Mr. CROSTHWAITE—I am anxious to know how far we have met flee expense we are likely to incur for locomotives and carriages. Mr. BRUNEL—I think 130 engines will do all the work of the road. Mr. CitosnievarTE—Then with regard to the suits at law. The CHAIRMAN—We have had one recently decided against us in the Court of Exchequer. Mr. CROSTHWA ITE—ls that the same cause that was tried at Liverpool? The CHAIRMAN—It arises out of that cause. Mr. CROSTHWAITE—When will the Cheltenham hoe be completed ? The CHAIRMAN said that the Directors had always at tached the greatest importance to the finishing of that line, but they had not thought themselves empowered by the Proprier ore to enter into any consideration of the ques tion of endeavouring to complete the line on their own account. Such aid as they had been able to give to that Company the Di rectors had always giver. ; but if the Proprietors should deem it desirable for the Directors to enter into negotiations for the completion of the road upon an equitable basis between the two Companies, it would be the duty of the Directors, so soon as the Proprietors should empower them so to do, to enter into negotiations with the Cheltenham Com pany to carry out that intention. If the Hon. Proprietor thought such a course ought to be adopted, he had better move a resolution to that effect. Mr. CROSTHWAITE was well aware of the value of such an adjunct to their line. He believed that that railway must be completed in seven years, or that at the expiration of that time it would fall into other hands. Without making any motion on the subject he thought it de sirable that some equitable proposition should come from the Cheltenham Company to the Proprietors of the Great Western Company. The CHAIRMAN—Then you do not propose that the Direc tors should take it up? Mr. CROSTIIW A ITE—Not unless we knew what the relative value of the line is. Many Proprietors of the line may be dis posed to take shares for the completion of that lice, but others may dissent from the Company, as a company, tak ing up the subject. Mr. HEPWORTH supposed that the expense for permanent way was for the expenses of the whole line. Mr. BRUNEL—Yes. HEYWIRTH.—What causes the other expense of 168,890/. for the half year. Mr. BRUNEL—It is a portion of the cost for the continua tion of the permanent way open through the half-year. In answer to other questions, Mr. Batureer, stated that some small portion only of that expense was owing to the slips and other accidents which had occurred ; not 10,000/. in all. The SECRETARY, in reply to Mr. Heyworth, stated that the real capital of the Company was supposed to be 6,300,000/. and the Chairman stated that it was his firm impression that that capital would be sufficient. Mr. HEPWORTH said he had never been at a meeting of the Great Western Railway Company where he had heard a Report so satisfactory to himself as that which had been pre sented by the Directors on this occasion._( Cheers.) He trusted that other gentlemen would entertain the same feeling as himself with reference to that Report; at all events he could not do otherwise than give it his entire and unqualified approba tion. With regard to the Report of the Engineer, he was sorry to say that he could not give that document such unhesitating approval. He found in that Report these words :—" The weather has, of course, almost completely put a stop to, or materially delayed those works which were in the course of construction, and involving any building—the Swindon-en gine-house, stations, goods', sheds, and all other minor works. These circumstances having unavoidably delayed the finishing off of many of the works:, and winding up the contractor's ac counts." He was sorry to find such an unsatisactory state ment. The CHA IRMA N said the Hon. Proprietor must see that the hasty closing of the contractor's account would be injurious to the Company. Mr. HEPWORTH said the Report of the Engineer went on to state that the various occur ences to which he had referred rn connexion with the works, rendered it impossible for him to name any sum as the probable cost. There was something extremely indefinite in such a state ment. "I do not think," said he, " that the cost will be so large as might have been expected, and although 1 cannot venture to give any 1 ositive opinion, yet I can say, that having wound up several contracts, and having gone very far towards a settlement of their accounts, I have no reason to fear that any ground of complaint will exist as to the correctness of my last estimates." The CHAIRMAN said it would be impossible to be very' definite with respect to accounts which had not been rendered, and with respect to which it remained to be determined what portion should be borne by the Company, and what by the Con tractors.--( Hear, hear.) Mr. HEPWORTH said the result would show whether the ac counts were satisfactory. The remarks of the Chairman were in some measure a guarantee that no great mistake had Leen made in the calculations.—( Hear, hear.) At all events he felt great pleasure in moving the adoption of the Report which had been made tothe meeting. A PROPRIETOR wished to ask the engineer, more for his own information, than that of the meeting, whether the con veyance of such a heavy article as stone was not likely to be more prejudicial than profitable to the Company ? Mr. BRUNEL said as far as he was aware there was nothing in the article of stone which rendered it peculiarly d fficult to car. y ; of course the weight would be proportioned to the power of steam. A PROPRIETOR wished to know what ground there was for believing that Dartmouth would be appointed as the station for the mail packets. The CriArnsraN said there had been a commission appointed by Government to consider the subject, and the opinion of that Committee was decidedly expressed in favour of Dartmouth. Subsequently the question was rendered doubtful in the House of Commons. A Committee was appointed, and a great deal of evidence was taken. Their report, though it leaned towards it, was not derided in recommending Dartmouth. In answer to a question with respect to the establishment of a mail to the south of Ireland, The CHAIRMAN said, communications had been entered into with the Government for removing the mail from Milford to Bristol ; but though he hoped the object would be attained, the matter was at present, quite undecided. A PaorierETOß wished to know whethi r a larger sum did not accrue for interest in the last six months, than in the former six months, and what was the extent of the increase. 'I he TREASURER said there was an increase of 8,000/. The Honourable Member should be aware that the interest upon the loan notes had accrued the last half year.--( Hear, hear. ) A PROPRIETOR inquired wh t was the amount of toll upon the Bristol and Exeter brsneh The TREASURER replied that it was one farthing for every passenger, and a penny for every ton of goods. Mr. AneTore said, that before the question was put to the meeting, he felt it was due to his own consistency, and he might say to his own character, to say a few words to the meeting. When the last meeting of the Great Western Railway took place, he was attending a meetieg of the North Midland Railway Company. At that meeting he made a proposition that two auditors should be elected from the body of the Proprietors, who should inves tigate into the accuracy of the accounts of the Directors, pre vious to their being laid before the meetings of the Company. It was extremely gratifying to him on that occasion to hear the Chairman state that he felt very great pleasure in seconding the motion. When he came to London on Tuesday he called on Mr. Russell, who received him, as he was accustomed to receive every body, .who had intercourse with him, with great courtesy and kindness..—( Hear, hear.) lie recommended to him the benefit of appointing two individuals who would look after the accounts and audit them. What could be more absurd in prac tice than that individuals, meeting twice a year, and for a few hours should be able to look into all the accounts, and determine their accuracy.—( Hear, hear.) The Hon. Gentle man gave him no answer at the time he called, but at a subse quent time, he stated to him, that the Directors had determined it would be inexpedient that such auditors should be appointed. He did not wish to do anything in opposition to the Directors, but he consideied that a propositi- n so sound and just as that which he referred to should emanate from the body of the proprietors themselves, and having received a refusal from the Directors, he begged to bring the subject before the meeting.—( Hear, hear, hear.) The Chairman in the short conversation he had with him expressed that such a proposal would seem to cast some doubt on the integrity of the birectors, but no person could believe, that he entertained any such doubt; but he did consider that the Di rectors were very extravagant, looking retrospectively, and that it would be useful to have a check placed upon them pros pectively.—( Hear, hear.) He had no wish to disturb the meeting, and he had great pleasure in alluding to the great re duction that had taken place in the cost of maintaining the line, because that was a point which he looked on wish sus picion. The charge was reduced fvom 94 per cent to 64, and he could not but record his approbation of that reduction, be cause it showed that the laying of the road was on good and sound principles.--( Hear, hear.) He was desirous of asking what was the price of colts. The payment of the full rent at the rate of 30,000/. per annum (after deducting 5001. for the estinated loss incurred by this Corn ; pany), to be made at the times and subject to the conditions herein after mentioned. The line from Bridgewater to Taunton to be ready for opening in the manner prescribed by the terms of the lease, on or before the 7th July next, two further portions of line on or before the Ist July, 1843, and Ist July, 1844, and the entire hue throughout on or before the Ist July, 1845. The rent for the current half-year, at 30,0001. per annum (deducting the 5001. above mentioned), to be paid them when due, upon a certificate from the Engineer that the Railway will be ready for opening to Taunton on the day spe cified. The sum of 7,5001. for the first half-year's rent to be reserved and paid over to that Company, on the opening to Taunton, pro. vided it takes place on or before the 7th July, and not otherwise. In the contingency of failure to open any of the three several portions of line successively, on or before the Ist of July in each year, one-third of the 7,5001. with interest at five per cent. per annum, to be reimbursed by the Bristol and Exeter Railway Company, in respect of any such failure, or to be retained from rent payable to them by the Great 'Western Railway. If the line from Bridgewater to Taunton shall not open by the 7th July (which period has been fixed with reference to the British Agricultural Meeting, to be held this year at Bristol), one moiety of the extra sum, which may have been previously paid over to the Bristol arid Exeter Railway, to be re-imbursed by them to this Company, or i❑ like manner to be retained from rent payable by the Great Western Railway. The arrangement only to be binding in the event of being sanc tioned by General Meetings of Proprietors of both Companies, and not to affect any other terms or covenants contained in the existing lease. If these two propositions shall receive the consent of the Proprie tors at this Meeting, the profit of the half-year will be subjected to the further deductions as follows : Moiety of Rent which may become payable to the Bristol and gxeter Railway £7,500 Depreciation Fund on the Company's Stock for the last six months 10,000 £17,000 leaving the sum of 101,687/. 55. Id. at the disposal of the Company. The Directors recommend that a dividend at the rate of 61. per Cont. per annum on the amount called up, should be now declared for the half-year ending rm the 31st of December last, payable to the Proprietors who were registered at the closing of the books, upon their respective shares. A dividend of 1/. 19s. on the original share ; 1/. 10s. on the half share ; and 25. 41d. on the fifth share for the half year to the 31st of December, declared payable on the 24th of March, amounting to 90,7501. will leave an undivided balance of 10,9371. ss. td. to be carried to the credit of the current half-year, which, it may be pro per here to remind the Proprietors, is always the least productive in railway traffic. The Directors look with undiminished confidence to that gradual and certain augmentation of income from passengers which has been found to accrue on every railway after its completion. In merchandise and cattle, the increase, although in some cases more slow in its operations, may be regarded as equally certain of attain ment on the lines worked by this Company. Already small quan. tities of coal and stone are brought for conveyance by the Great Western Railway, and as soon as the requisite accommodation is procured, these two articles alone will add considerably to the revenue of the Company. Negotiations are now pending with parties for carrying on a trade both in coal and in stone upon the line, which it may be rea sonably inferred will become beneficial to the Company as well as to themselves. The benefit arising directly and indirectly to the great Western Railway Company from the Cheltenham and Great Western Union Line, though considerable, is of course greatly limited by that Railway not yet running into the great line of traffic through Glou cester and Cheltenham. The Cheltenham and Great Western Union Company has now a Bill before Parliament enabling them to treat with other parties, and your Directors will steadily keep in view arrangements which may be mutually beneficial to the two Companies. The Engineer's Report is appended to this, in order to afford full information to the Proprietors on the state and condition of the works, the winding-up of accounts, and the general review of his last estimates, as far as the progress of settlement with contractors enables him to communicate any decided result. The Directors have given full effect to the resolutions of the last half-yearly meeting of the Company, for altering the constitution of the Board of Management, by a reduction of numbers, with the changes in the periodical retirement of Directors consequent thereon. The numbers were reduced to eighteen by the lamented death of Peter Horrocks, Esq., and by the resignation of the un dermentioned Directors, viz.—Ralph Ftnwick, Esq., Charles Bowles Fripp, Esq., Riversdale William Grenfell, Esq., Thomas Pycroft, Esq., and Robert Scott, Esq. Under the new arrangement which was ordered to be adopted for the determination of the fcur Directors to retire at this meeting, the period of service of Robert Frederick Gower, Esq., Thomas Richard Guppy, Esq., William Singer Jacques, Esq., and George Jones, F.sq., has expired, but being re-eligible, they severally de clare themselves candidates for re-election. ENGINEER'S REPORT. 18, Duke-street, Westminster, Fib. 22, 1842. GENTLEMEN The whole line having been opened a short time previous to tl.e last Half-yearly Meeting, my Report upon the state of the works and proceedings of the last six months, might be, I am happy to say, limited to the satisfactory statement that these wcrks, although many of them are very new, and exposed so home. diately after their construction to the severest trials, have so far withstood these trials as to allow of the uninterrupted working of the Railway. But the extraordinary winter which we have just passed through, and the consequent injury which all new works have sustained during this winter from the long-continued and ex ccssive rains, and the subsequent violent alternations of frost and thaw must naturally have excited anxiety as to the effects produced upon those parts of our line, and those works which were barely completed before this weather commenced, and these circumstances requ' re that I should give some account of the difficulties we have had to con tend with, and of the degree of success attending the means taken to meet those difficulties. Upon the part of the line thus recently opened occurred all the heaviest works (excepting those between Bristol and Bath), and es pecially those works which from the character of the soil were the most likely to suffer from the weather. From Wootton Bassett to the Bristol side of Chippenham, and from the Box Tunnel to Bath, a total distance of upwards of twenty miles, the natural soil is everywhere clay, and at several points, clay of the worst description. It is almost unnecessary to add, that in cuttings and embankments newly formed, and of such ma. terials, the bursting out of water in the slopes of the former at points where no previous indication of water existed, and the complete washing down and dissolving of the surface of the latter, were the frequent and unavoidable consequences of all the natural drains of the surrounding country being, overcharged, and of the almost incessant fall of rain. Slips of various de. grees of magnitude occurred in the slcpes of the cuttings_ one of considerable extent in the Wootton Bassett cutting in this case, as indeed almost always in slips or cuttings, there was no alternative, the only remedy being the entire removal of the dis turbed ground, and the carrying back the slope at that part. About 25,000 cube yards of earth have been removed at this slip. In the Ashley cutting, between Box and Bristol, where the sloping ground beyond the cutting has always given much trouble, the ex tensive precautions taken, by shafts and headings connecting them to - effect a perfect under-drainage of the hill, proved very efficacious, and has no doubt saved us from very serious slips; the increased quantity of excavation required here, in consequence of slipping, has been small, and the temporary roads which had been left for re moving the materials from the slopes clear of the main line, have now been removed. In the clay embankments the greatest difficulty has been felt in the repairing of the slopes where the material has been actually washed down in a state of mud ; at many of these points no dry materials could be obtained, and consequently there were no means of re f orm ing the slopes; faggots have at these places been used extensively, both for protecting and draining the surface, and even when necessary, for making up the embankment; in such cases the safety, and other advantages of the continuous support to the rails, were strikingly manifested; the longitudinal timbers kept their form, and maintained the line sufficiently straight over weak places, when sepa rate sleepers or blocks would have completely dropped out of place, and when the security of the line appeared likely to be increased by it on account of the one side of an embankment set tling or washing clown more than the other, the whole line of rails could be, and frequently has been, shifted bodily several feet side. ways, or even lowered considerably, and set again with good curves and regular easy gradients, without difEculty or the slightest risk between the passing of the trains ; and the line has thus been kept in good working order, and perfectly safe, at times and in cases in which, without this facility - , great delays must have occurred from the crossing or stopping of trains. By constant attention, I am happy to say, we have succeeded in passing through this winter without any extensive injury to the new works, involving either stoppage of the line or any other seri ous consequences. The late accident at Sonning, disastrous as it a y rbee s f l eu i ngutiyt comp l ete d a formedn t o taafil,eldry wellt unexp e cted e d e i e n t e e d d , may have been in its results, was a very painful instance of serious c years— theu e , slopes consequences' l h iz e d Sonning f a r r o is u il t g he fromc fiurts cut ti ng e hT n ae carefully and the cutting was considered one of the best on the line ; the sur face of the slopes had at some points slid down—a common and com paratively unimportant occurrence with new slopes ; these places had been drained and left till more favourable weather we complete drainage afforded a good opportunity for repairing them ; but unexpectedly a part of the solid slope itself was thrown forward from near the top of the slope, and although not very extensive, formed a slip sufficient to cover a short piece of one line of railway; with the earth were brought down several large pieces of a thin bed of sandstone, which were sufficient to throw the engine and tender violently off the rails, and thus cause the light waggons behind to be broken, whereas, without the presence of the stones, theresult would most likely have been comparatively trifling —a combination of un. foreseen circumstances thus rendered serious a most unexpected, and in itself, an unimportant slip. It has since been found by cutting into the slope, and endeavouring to trace the cause, that a large basin of gravel exists within the clay just at this point, approach. ing very near to the cutting, and which overcharged with water, the usual drainage being for the first time insufficient, had pushed the top of the slope into the cutting. Against such contingencies, whether on a railway, or in any other work, it is impossible altogether to provide, but as far as unremitting attention, vigi lant and constant inspection of the works by myself and my assistants, and the prompt and vigorous application of the most complete remedies that could be applied, I can unhesi tatingly declare that your interests have been taken care of by the maintenance of your works, and the public safety and con venience have been preserved to an extent which the difficulties of the season at one time liserdly allowed me to hope could be effected. The weather has, of course, almost completely put a stop to or materially delayed those works which were in the cour se of con struction, and involving any buildin g-the Swindon en g i ne- h ouse stations, goods' sheds, and all other minor works. These cir. cumstances having unavoidably delayed the finishing offof many of the works, and winding-upof the contractors'accounts, from this cause more particularly, although in some degree, also, from the occupation of my time consequent upon the frequen t and sudden calls to var i ous parts of the line, I have not been able to com p lete the g en eral Re. ports which I had intended to have l a id before you at thi s meet _ leg, when I had expected that all the works would have been con. pleted, and the accounts squared, and in referring to either of which I could consequently have spoken of any of the d e t a il. or of the causes of expense freely, and without danger of ember. rassing any question of unsettled accounts which I cannot now do; and I could h ave re f erre d to the completion of distinct work s , completed for specific sums, which I c ould have named, as to esta blished facts, this neither c a n Ido a t the present moment, I must therefore look to a future opportunity for making this Report. The various occurrenc es which I ha ve referr ed to as requiring e and receiving such constant and ser ious attention, h ave necessa. rily been attended with some considerable expense, but I a m h appy to say that altho ug h it i s no t in my power yet to ar r i ve at a suf. ficiently safe estimate of thi s cost, which is so much mixed up with any sum, l or de w n i e tl t i t e l o ii m nk ple i t t io w n il o l t e as en no so t t l o arg justify my naming as might h ave been expected, an d a lth oug h f o r the same reasons I cannot v en t ure to give any pos i t i ve op i n i on, ye t I can say, that having w ound up several contracts, and h av ing gone very far tow ards a settlem en t o f other accounts, I have no reason to fear that an y g r ound of corn. plaint will exi s t as t o th e correc tness of my last estimates. I ens, Gentlemen, your obedient ser vant, I. K. BRUNEL . • The Rep or t o f t h e Di rec t or s, and the Engin eers ' R eport having be en rea d, h a ve b een The titaramAN said that perhaps the Proprietors would dispense with the reading of the accounts, as the results had been stated in the Report, and as a c opy of the accou n t was annexed t o the :Rep ort.--This proposal having been unani mously assented to, The CHAIRMAN said that if any Hon. Proprietor was desi rous of making any observations on the subjects alluded to in the Report now was the time for doing so , b efore He put the resolution that the Report be adopted. Mr. CROSTHWAITE wished to know whether he was to understand that the Directors considered their present funds were sufficient for every thing. The CHAIRMAN—Yes. Mr. CROSTII WAITE was desirous of knowing how much of The CHAIRMAN said it was 365. per ton in London and 255. in Bristol, but they hoped to make a still further reduc tion in as price.—:(l-I.ear.) Mr. AL;TON said that another question was the appoi'lment of the Directors, which he thought to be erroneous. On the Grand Junction Railway the largest Proprietors were the Directors, but on their line that was not the case ; and Pro prietors who had 800, and 1,000 shares, were not brought into the direction. He would say no more at present, but would wait far his reply. The Ciraiii. - aiax said, that in the first place he would state to the Proprietors generally the mode of auditing the accounts. There were two Directors in London and two in Bristol, who devoted several days in each month to the duty of auditing the accounts. That mode he believed to be extremely efficient, and one through which they had a complete know ledge of the accuracy of the accounts.—( Hear, hear.) He would ask the Hon. Proprietor if the new Proprietors who might be appointed would devote more of their time to audit the accounts than the present ?—( Hear, hear.) He believed the mode proposed by the Honourable Proprietor would be inefficient for the purpose of auditing the accounts or ensuring accuracy in them, but it would be very efficient for the purposes of litigation and dispute.---( Hear. ) If that mode were adopted their half-yearly meetings would be entirely occupied by trivial disputes. He also entertained con siderable doubt as to the legality of appointing seven auditors. The Act of Parliament undrr which the Company was formed, very accurately defined the executive ollictrs to be appointed, and there was no mention made of auditors. The Chairman then referred to the Act of Parliament, which enjoined the appointment of five Proprietors, if it became necessary, to try the accuracy of the accounts. He could not help thinking also that the appointment of such auditors would imply a want of ctrifidence:in the Directors, who he hoped had always, and always would continue to discharge their duty to the Proprietors. It was for these reasons that the Directors had unanimously resolved that it would not Le desirable to comply with the suggestion of the lion. Proprietor.—( Hear, hear. ) They thought the system would be utterly inefficient, and that it would lead to endless litigation and dispute.--( hear, hear.) And they believed it would imply a want of confidence in the Direction, without which it would be impossible for them to discharge their duty satisfactorily to themselves and beneficially to the Proprietors.—( Hear, hear. ) Mr. VOUSLEY congratulated the meeting; and the Direc tion on the unanimity that had prevailed among them. He rejoiced that the gentleman who had proposed the adoption of the Report w as th e gent l eman who on many occa sions had taken a very lively interest in the affairs of the Great Western Railroad. He was ver y g l a d t h at h e now gave th e Direc tors the whole we i g h t o f hi s exper i ence an d application because they kne w th a t, on some former occasions, he had felt it his duty, and no doubt justly so, .to differ from them. He hoped that th e ti me was no t f ar distant, probably , . the next half.) , tIY meeting, when the engineer would meet with his approbation, as well as the Directors had done on this occasion. —( Hear; hear.) He mixed with a por tion of society, where he had frequent opportunities of hi wing the opinions of gentlemen with regard to the con struction and advantages of different railroads, and the univer • sal opinion was that that the Great Western Railroad stood second to none. On so great an undertaking, it must be im possible for any person, however talented, to tell ex actly the coat of construction of such large works, and if there was anything at all to complain of with retard to the estimates of the expenses on the road, still it was certain they had a most solid and excellent property for their outlay.— ( Hear, hear.) He would not further trespass on their time but to say how much he was gratified to find that from the exer tions of the Directors, combined with those of the engineer, they could now boast of having a property which was equal to any of the same description. The worthy Proprietor on his right, had not made any proposition, but he had thrown out a suggestion, and they had heard the Chairmin's observations in reply to it. They certainly took their shares with the knowledge of the Act of Parliament, which regulated them ; though it was in the power of the meeting, perhaps, with the censent of the Directors to such a proposition, to make an alteration in the regulation, yet he thought it unnecessary with the satisfactory -Report they l ad heard read, and which Mr. Heyworth recommended for adop tion. He should be sorry, under the circumstances that had brought them to such a prosperous situation, if his pro position should be carried i n t o effect. He felt him self that it was not necessary to appoint auditors And it anything could strengthen the confidence he felt in the Directors, it would be their having adopted the suggestion of the last hall-vearly meeting, and reduced their numbers, and also dielinislied their expenditure as much as they could do, consistent with the safety of their property. Beyond that they could not wish them to adopt any suggestions. lie again ex pressed himself per ectly satisfied with the Report, and he hoped the next half-yearly meeting would find them in a still more prosperous condition. A PROPRIETOR said that, while he felt the most unbounded confidence in the Directors, yet •he was not disposed to place implicit confidence in their wisdom more than in that of any other men. He dissented from the proposition of Mr. Alston, for appointing auditors, believing that it would not accomplish his intent on ; auditors were merely checks on an account of expenditure, but if they were permanently appointed, they would soon become directors of the road, and the Directors would become their servants, under the direction of these individuels. The time might come when the railroads having used up their capital, they would be subject to a mere question of management, and auditors might be appointed ; but that time had not arrived with railroads in general, and the introduction of a bad prece dent in one might injuriously effect others ; the appointment of auditors he thought would tend to produce litigation. lie trusted that Mr. Alston would allow the meeting to else with the unanimity with which it had commenced. lie did not quarrel with any single remark of the Report ; it was very creditable to the Directors, and was an honest, open-minded, and fair Report, from which they knew the state of their circumstances. The extent of their expenditure was comprised within 6,300,000/., and whatever might be the variation on this item or that, they were prepared to meet them as they arose. The Engineer stated it was impossible to say exactly what the ex pense of certain works would be. He thought the time had arrived when indefinite expressions should be dropped, but at the same time he congratulated him on having given them a good, and firm, and stable property. He was merely going to ask one question—that was, whether they had got all the money on loan which they required, or whether they were taking more ? The CHAIRMAN stated that they had not taken up all they required In answer to a second question from the same Hoer. PRO PRIETOR. as to the probable amount that would be required, The CHAIRMAN stated, that without reference to the ac counts, it would not be very easy to tell the amount. The same HONOURABLE PROPRIETOR proceeded to say, that he wished to make a few observations on the subject of the allowance for depreciation of stock. He concurred in the principle laid down, that the fair and honest mode of proceed ing was, that a provision should be make for depre ciation so that Proprietors might at any time trans mit the stock in the state in which it had been when they held their shares. It was needless to say that there was a decay of stock going on of necessity in railways from day to day. Their stock was now new, and it was of course sub ject to less wear and tear than it would be subject to hereafter. It was the opinion of the Directors that 20,0001. would keep tl e stock in perfect repair for the next ten years. Now he wished that valuators might be appointed who would fix as nearly as possible the rum required for re pairs, and that as little doubt as, and could be expected, might exist upon the subject. The stock, in his judgment, should be valued, and all risk of a deterioration of the property should be removed as much as possible. There was no reason why future Proprietors should be called upon to meet unexpected demands. In offering those remarks he did not wish to throw any ob struction in the way of the adoption of the Report, of which he h'ghly approved. He thought that Report was creditable to the Directors, and must be satisfactory to the Shareholders. Sir. GEORGE CA RR GLYNN said that he entirely concurred in the observations of the Honourable Proprietor who had preceded him. He was sure the Directors were right in adopting the principle of setting aside a sum which they con sidered amply sufficient to meet the annual expe ns e o f depreci ation. But he should also say, as hat been said by his Hon. Friend, that he did not think any system of per tentage would carry conviction to the minds of Proprietors, unless accompanied by a periodical valuation of stock. He thought that a valua tion of the kind might be made with considerable accuracy; and so great was the progress that had been made of late in scientific inquiry, that a very close approximation might be made to a definite result. At the same time, he thought that it would be extremely unfair to act upon any valuation from half-year to half-year, and that such a valuation would in that case be very false. There would necessarily be particular pe riods at which greaeer expenses would be incurred than at others, and the only sound principle was, therefore, that a sum should be set aside, to be applied during a number of years. lie had not, however, merely risen for the purpose of making these observations ; and his principal wish was to allude to a transaction in which he was concerned as Chairman of the Grand Junction Railway Company. It was true that he had himself seconded a motion for the appointment of auditors to overlook the acdounts of that Company ; but he had found it necessary to do so in consequence of certain aspersions thrown out against him at the meeting in question ; and under any other circumstances he should not certainly have recommended such a proceeding. Could there, he would ask, be anything more inconclusive or unsatisfactory than to allow parties to investigate the accounts, those parties being the Directors that went out by rotation? For his own part, he would much sooner leave it to the gentle men at present behind the table than to such a tribunal. Why not, he would ask, appoint a committee of five, and let them take the whole responsibility. In prin ciple, therefore, he begged to dissent from the proposition made by his Hon. Friend. He had laboriously executed the duties imposed upon him by the North Midland Railway, but he must allow him to dissent from the proposition that had been made. A PROPRIETOR said that he had travelled more than 100 miles to attend the present meeting, and he was anxious to ask Mr. Brunel a few questions—First, he wished to know w hether the account that had been put in for extraordinary expenses was the preface to a demand at the next meeting for an increase of capital, or whether Mr. Brunel remained of the same opinion he had expressed at Bristol, that the capital of 6,300,e00/. would not be exceeded by more than 50,0001. Sir. Muse'. stated that he still entertained the opinion he had expressed at the last meeting.—( Cheers.) A PROPRIETOR also wished to know how much had been borrowed upon the resolution which had been come to at the last meeting. Sir. SANDERS said that under that resolution they were empowered to raise 300,0001., but the whole of that sum had not been required, because, before it was all borrowed, other sums would come back again to the Company. . A PROPRIETOR said, that in the report the Directors ex pressed their regret that the Cheltenham branch had not suc ceed, das well as it had been hoped for. Now he wished to know from the Secretary, whether he was aware of the high charge made by the coach proprietors for the carriage of pass, ngers. Mr. SANDERS was quite aware of what the Hon. Proprietor had alluded to. It was felt desirable by the Directors to induce the coach proprietors to lower their fares, and he had been sent down to them for that purpose. In September last he got them to reduce their fares from 55. to 35., and at the end of three months they produced their accounts to him, from the in•pection of which, he was perfectly satisfied in his own mind that they could not afford to carry on their coaching business in a manner beneficial to the railway, unless they Were permitted to charge 45., and that was the price they were now charging. For his own part he thought, under the circum stances, that the present arrangement was the best that could be adopted. A PROPRIETOR observed that the Secretary stated at the last meeting that it would be necess ar y t o run snore trains. H e wished to know whether it would be necessary to continue them. Mr. SAUNDERS entertained the same opinion he did in February last. He formerly believed that the diminution of the number of trains would be detrimental. to the Company, It was necessary to maintain the number of trains they had now for the summer. He thought they would have to add to them. AI 3 ROPRIETOR said, he was of a different opinion. He had travelled a good deal on the railr.ad, and he often saw many of the carriages empty. Another• PROPRIETOR wished to know why the payment of the diviClend should be delayed till the 24th of March. He thought, as the London and Birmingham Railway had tel them the example, the dividend should be paid at an earlier period. The CHAIRMAN said that the preparation of the dividend warrants occupied a fortnight or three weeks. In another year, perhaps the better course would be to have the meeting earlier. Mr. IlEvwoliTH, in allusion to the 20,0001. per annum, about which so much had been said, wished to know whether it was intended to let that accumulate to have 200,0001. in hand at the end of ten years ? The CHA I RM'A N—Such is our intention. 1 .4 s I Sr of .r t a h l i l s ' g ro u i e :L i t n or ' s a i s le it re w :x s p il lc o s7( alarmed at the s:!atenient of Mr. Tyrrel!, but felt considerab l f surprised at his conduct on the picent occasion. i d ,en d el i, in n g sc i , n ,e a s a C s o b u y rt n o o fL ie a . llei s A I I r lt o R u t , ) A N ln sa )r d y r h r e e l i , : va a s s had fallen C H Le the propri e t o r o f on ly one s h a re.—( Hisses and cries 0.1. " Oh, oh.") M. A Lsrroal wished to make a few observations resre cti t t t h h e a t more gentlemansu surprised happenedsed at wb what had f a ll en f rom hi m d ur i ng t h e ear l y p ar t of the pre0,1.., proceedings. Th e Ch a i rman had told them that the plan Th.., appointin g au dit ors , w hi c h h e ( M r. A . ) h a d eco mmended,lW A lead to di s p u t e and litigation. He (Mr. A.) need scarcely Scr them that he differed from that opinion. He regretted that Y 1 _ 11 . ., friend (M r . Glynn), in alluding to the subject, had said tha t ,:, Grand Juucticn was not so strict as the North Railway.—( Hear, hear, and cries of " Question !”) A PaorRIETOR wished to call the attention of the Proprietor!!:.: and particularly the Chairman, to a clause in a Bill introduced the Legislature for the Regulation of Railways. The clause ref er ; to the building of brid ges an d v i a d uc t s over public and P si° , roads. He thought th e ex p en s es , i n t en d e d by the clause On.; borne in V a - respect by R a i ir , ad lompanies,eould be p ul ,_; ° i , more equitable footing, and h e therefore trusted that the Cu' ute man would use his influence with the Le g, i51at ,..) in obtaining what wa s j us t i n th a t regard.—l „,,,. Another point on which he wished to observe :4 0 the convenience of thirl-clas, passengers. The people " to travelled in that class of carriages on railways had onli loc k train, appropriated to their use ; namely, ene at four ? t h e se in the mirning, and another at nine at night; and .tobt were goods' trains too. Such a state of thing's I;its in his mind, to be amended, particularly when ss l d to were first established it was thought that no persontibit the community would be benefited so much by ear mode of conveyance as those who, from their circumstinu.to would beobliged to t • avel in third class carriages. He ' 539 „ q n ' se confident that the third class traffic had not been placed u 1 )",.. bt good a footing as it might have been. He believed that it r"ea be made much more profitable to the Company • and 11 °, 0 0 thought that. that traffic should he improved for the sake °' the° class of the community, who would be most likely to avaa selves of it. The CHAIRMAN s a id, th a t w h en h e ma d e th e obrst &ti bscl which had been r e f erre d t o i n th e H ouse o f C omm ons, h e e only heard a sum m a r y s t a t emen t o f th e Bill . H e had sine 0 0 certained that it contained some unobjtetionable clauses• er p. of these was the unli m it e d con t ro l w hi c h i t gave t o the Go mont, and the other, that which referred to the licensing ? dam ., gine men. The B:1 1 , however, was - now under the e° ll ',.; Lon of the general Committee on Railways, and he had doubt, that the bill would undergo such alteration as would lid, it satisfactory. With respect to another observation w h . i tat" falllen from the Hon. Proprietor, he thought there were vaT; t ea. jections to extending the traffic of the third-class O rr !' 0 One objection was the inconvenience and suffering wt must entail upon those who travelled in open carriages , s o d rate of forty miles a n h our . It wou ld b e necessar y them by slower trains, and, in order to do that, !bee down fresh slidings, or the fast trains would not be able upon the line. Tai A PROPRIETOR said th a t nn th e N or th an d York Al Railway, as appe are d by th e l as t R eport, the proPr"ca third-class passengers was as 102,546 to 720,400 of the se ,sth it, class, and 38,000 of the third-class—a pretty good pro o f in the north of England th e y did no t f ear th e heaviness- • wind in travelling.—(A laugh. ) The CHAIRMAN said the distance there was short. A PROPRIETOR—Eight or ten miles. A PROPRIETOR said, he thought it was not sufficient. - or known to the public, that whilst by the London and / 3 _ 1 1:0, ham Grand Junction Rail wa y D u bli n parce l s we re 61110 the rate of 12 s . 6d. p er h un d re d we i g h t , b y t h e G r eat w fit Railway the charge was not more than half that silr 0, thought that fact should be put prominently forward •••': Company. reci s° ' The TREASURER s a id th a t h e s h ou ld b e sorr y to deP s o f tlei( their Railway ; he was afraid that the communication for carriage to Dublin by the Great Western Rail • present inferior to that by way of Liverpool. The motion for the adoption of the Report .was , rdopted unanimou s ly. 'ettl 111 r. llEvwomni then moved—. That the art angera 00 tween the Bristol and E xe t er R a il way C ompan y, up r t, 0. • terms and conditions set f or th i n th e Directors Ref and it is hereby sanction e d by thi s reso l u ti on ." 6 100 , Mr. VOUSLEY seco n d e d th e reso l u ti on , w hi c h wa s pa's • nirnously. dr Mr. ALSTON moved that a dividend of 3 per cent' be ,;ble° - asy. dared for the half year to the 31st of December - ,1841,1 ) eP the Proprietors of all th e s h ares o f thi s C ompany , reglto the close of the books, in proportion to the sum- called 7 1 ; t 41 4 each share respectively. That the said divid e nd be pai d bankers of the Company, on a n d a ft er th e 24th o f Marc tor Mr. Voustey havi ng secon d e d th e mo ti on , it wag Put ''"' s meeting and carried. boa' The CHAIRMAN said th e y ca l cu l a t e d w h a t they t .*:,„ would repay the pric e th e y h a d ex p en d e d. 1J b eft IV It was proposed th a t the following gentlemen OW n- „ o il i appointed Dir ec t ors , R o b er t . Frederick Gower,_ Th e i ) t , ": ; ' Guppy, Willi a m Si nger J acques, an d George Low , ~,, and they were acc or di ng ly unan i mous l y reappo i n ted. • ti l t { r An Hots. PROPRIETOR said he did not think it le° ,'oo; right to separate without the meeting giving exP r "'i l , ~', their approbation of the general con luct of the Chaire ) !,,,;•..' o the explicit manner in which he answered all the quesn'";,,b! The CHAIRMAN returned thanks for the ma nner it' ' i the proposition was received by the meeting. liir i l a 11.1 r. CLEA Say rose t o p ro p ose a vo t e o f t h an k s to , e 01 , , , ,. nel, as a testimony to th e hi g h p ro f ess i ona l s kill rend s ' , t4 .;•,:' 1 Mr. Brunel to the Company since its formation. Mr. RusxEnn seconded the resolution. if* l' Mr. IlErwowrx sugg es t e d th a t it wou ld b e tter to s ca '6` - 1 1 ' ' 90 the next half-yearly meeting. The CHAIRMAN said that it was th e i n t en tion of t b .: t e -0 , 1 rectors to propose a vote of th an k s t o M r . ...ei, I ,t e considered it would be more gr a tifyi ng t o hi s f ee ling: seeded from the body of the Proprietors. They (t! e bl i . tors) bad always an opportunity of witnessing the MI , A , title attainments and earnest and unremitted attent le bur which he applied the energies of his mind to thee bur ness of the Proprieters.—( Hear, hear, hear.) 1, 11 3 6 : ne,sed the untiring devotion and unalterable 2 ,,.,„'" c u i" ' t tT : hee w y,.; h rk a e t na et, h wi en his eibsgerliteye straightforward t i o 1 i personal r stohnealinc manlinessot e nd e u s o t ent o. allf_ i (o h iej e ceia :7l ,lo.o.oA . is ) l i If the vote came from the Directors, it would proeer"ie.,.; the formal way of business, but •as a tcstimonY „rig result of their own observation, and their Or NO; of tin it honest conviction of their attachment t9 t, -,,g.,, , He should be expressing the opinion of all his CO' l l,tri i cordially concurring with the resolution which he D OP '" posed; and on an cceasion like this, when they weifil l at i first ti , i e, viewing the great and prosperous results of i i i ',. pendous elite prise which his exertions had bro t h' ,1 't a iuecessful clo se ; an d h e did h ope that ..„' would not have been one person in this 41.7 , hu- would have c or di a lly res p on d e d to t h e appea l that' made to them.--( Cheers.) He was sure that the ge ne l nion of the Proprietors would be in c onc urrence resolution.- . sft '_! .. Mr. VousnEr, amid loud cries of ~ Questt i e n ' e l with reference to the wish expressed by Mr. ° t ie, . that Mr. Brunel should defer the resolution till sc ti half-yearly meeting, the whole line of road W e Pp open from London to Bristol, and he thought th e as had arrived, when Mr. Brunel should reel , r ow s thanks of the Prop r i e t ors . N o man h a d l a b oure d und e T e slo disadvantage s tha n M r . B rune l, or h ad been mor e c . r c i tee s e r i by the public pap ers . I n a ll u di ng to h is plan of the n a p i t . . Mr. V. observed, that every ra il roa d i n the king"- wished that they had adopted it. tt e g The CHAIRMAN said it was du e t o M r . B ru nel to r t Oi 1 he was utterly i gnorant o f i ts b e i ng the intention o f an y j Proprietors to move this resolution. or' a ,s The resolution was then put from the Chair, 05 ' 4 O unanimously. 4 „ . 0V Mr. I. K. BRUNEL sa id if lie was really unable *" prfd at all, still less to express properly, his e5O, si feelings, lie would not ma k e t h e or dingrY bi o . that he had been t a ke n b y surpr i se, a f ter t h e fact w Ail been tated by th e Ch a i rman , th a t h e h a d no id ea thuL f t4 o l honour had been i n tend e d him.. He would not re friend Mr. Heyworth, though he had certainly, to 7 P P eA tree, damped the pl e as ure h e s h ou ld ot h erw i se hii i !lia . io the present occasion. P er h a p s it was on l y because liorle4l. feel it to be such an honour as he (Mr. Brunel) did , ... 1 10:00 not suppose that he intended to refuse the ef i Ti s Sniff though it would have been more complete had it had - cc er i pif as well as that of the others. He ii gged them to a ,ff sincere thanks ; his services might really have beetee'ol, to them, and he could assure them that they had, e * tiered with a perfect and entire yielding of his ithe' e h - o leA4 and his whole mind to them. He had devoted his W derneo and body to them for the whole eight years the on o o r,l had been in pr o gre ss; an d t h ou gh t h ere m i g ht be a is.be,,r4o that some expenses might have been avoided, yet' aeo 'in' , iacieased exp e ndit ure h a d b een necessary, it had l '" # from him with th e grea t es t re l uctance. bath', Mr. HEywortna begged to assure M r . B r unel t a d 0 . not mean to throw a damp over his feelings of jus t Veusf o ot flan upon that o ccas i on . 1 here might have been ea") )JO 00 curred by Mr. Brunel, of which he ( Nlr. Heywort4oo ir see the necessity, but he still thought that that gentle, bat . , executed the great wor k i n a manner w hi c h cou ld n° Of dound to his own glory. 0 4 't e l it) The CHAIRMAN then informed the meeting that ', pi 0, intention of the friends of Mr. Brunel to present bi: 9th pi, cc of plate, in acknowledgment . of their sense of h se, to the Company. The subscriptions for the pial i° the _ •i-'" not exceed ten guineas, and he would lay a paper ou , 00 in which subscribers might insert their names. - nc l se:: ihe paper w:..s accordingly laid upon the tables 1 , 1 . 10 0. gentlemen catered their names as subscribers to the 00 e, A vote of thanks was then passed to th e Direeter s s e A ssii , i lit i which the Chairan acknowledged, an d th e meeting ? , ,1 1 ..1 B F iv i,.. ir r : } l;;; l : l :: '; . : 4 : V p. t . v : ' ,. e . :: Ct).IIN A VERA (1.105 • t 0i.0,1 A ik267 : :::: ei A L:50: : :111.1 1: (:F : ii )1 e t ,(it: A L)ay.,, G vtt:5e8 1 : ,...... ................................................ 78 1 , 1 :c 1 0aa 1 m ;1 , 8 ..,. 14 .:7. - : ; : g0i 4 1. 1 9 : ,, i , the Inspector 4 in the diffiirent Cities and • Towais DI ''' ,10,' . .59! , tlo w„,k ending OF THE LAST sl ' l WE N". S; 14 : 1 g VvH CAT. RARLEV.I OATS. i RYE. ............../ °"l4 ----------—°-------..- 1 .------.-. . 4 I 1 A Jan. 14 ...... ... t. 2 5 29 1 t.O 4140 1 1 gq - ' 9 f• yl ) , , :i ' V'i :8 69 7i 28 3 20 11 37 4 , , .."3 4 011 Eeb. 4 6O 6 25 5 20 1' 36 I , 4,, 9 0 ' 11 ~ 18 IMFEHIAI. AooREGATE AVERAGES OF` TOT( •-- . :9 4 ' if ... , . ...,.. W;leat CO.. la ~ i Oats , Itarkey..„„,,, 28s. 6 i, I Rye • DUTIES 014 FOREIGN CoRIV• Wheat '6l 80.1 Oats 13arle- , l9s, 10d, i nye - _. ,-,-or OA . • 4 THE MARKETS.—( V E -, S Tr,- h e COLONIAL MARKET- were t.' There was little business done; but holders wer,. , imports were fair, and many ships are near at balm 1,.50 /1 i t 2 6 , 3 4 . N:i ri1te,ia5ii:..................139,3",:i. ; $ 4 : 7; 1 TEA . both sigc 'The public sales we n t o ff a t fuII MARKET b ra t es , for Grcen sor.s. Comp an y' s C ongou Is. IN-d. con. . , ' 10‘ 41 TALLOW MARKET. MARKET. a L fair de _r ,a , na tind l i t io °l th e T s h p e Gt A , l a a r t k 4 e s t s. was 3d . fi Tel; cwt. the Fo r del idemandver y g i n i o t good r S on F ea r: orOg f The price of Rum was I fi T in 'l i, lA vi r-t itt Lcewat ds, 2s. Id., fine Jamaica, ss. 10d. to 6s• 2d., sa l , f; J. East lndia, Is. I Id. per gz lion. Brandy ds lid, t0 . " 9 ,i 0 p , prices declining. Geneva in fair demand 0 1,.,. ner gat per galon. Coin Spirits in slow requtst at 9s. slu i Mr. HeywortTra wished to know what was the object of it. What were they to do with that 200,000/. it all their engines were kept up so that after the expiration of 10 years they should be in the same state that they were at present ? That 200,0001. would be of as little use then as it was now. He wanted to know of what use that 200,000/. would be? The SECRETARY would, at the desire of the Directors, ex plain to the meeting their views on the subject. Although it was their intention to keep up their locomotive plant during the ten years, it should be recollected that many circum stances might occur to depreciate the first cost. There might, for instance, be introduced various improvements in locomotive engines, so that the Directors would not be justified in retaining on their capital account, the whole ex pense o't heir locomotive plant. If, therefore, they secured a fund of 200,0001., that which had originally cost the Company 550,000/., would, at the expiration of ten years, have ac tually cost them only 300,000/. (Hear.) 'the Directors agreed that the valuation of the engines would be a proper step to take, net every half year, but that if after the lapse of three years a new valuation should be requisite, then it would be proper to make it, and if it should then b e f oun d that 20,000/. a-year was insufficient then 25,000/. a•vear might be set apart. Whatever sum was set apart should be set apart so as to ride over a large space of time, and so as to prevent their dividends from suffering an arbitrary depreciation. The ado.p_ tion of that principle was sanctioned by high authority—the authority of the Grand Junction Railway Company. That Company had adopted a similar plan ha'f a year ago. A I'ItOPRIETOR said he felt much obliged to the Secretary for the explicit manner in which he made all explanations re quired of him. He also felt perfectly satisfied with his conduct. With respect to the 200,000/. proposed to be retained as a' fund for the next ten years to meet any experbes incident to the Company, in the repair of engines, &c., he must confess he did not comprehend it. I here might be other reasons for a sur plus fund, but he could not understand those alleged. After a few words in explanation from the CHAIRMAN, Mr. TYRRELL said that there was no item for the liabilities of the Company. He was surprised at such being the case, as he was aware, from hearing the solicitor of Mr. M'lntosh, one of the chief contractors with the Company, that that Gentle man had a claim of 250,0001. on the Company, and the amount of claims of other aantractors added to the former would, he had reason to know, make the entire amount of iabilities Of the Company to contractors above 500,00 a He made that assertion that they might know what claims were upon them, particularly as he had already mentioned there was no item of that nature given in the Report. The SECRETARY begged to interrupt the Hon. Proprietor., The Company were perfectly aware of all claims upon it, and were perfectly competent to test the validity of their claims. He trusted the lion. Proprietor would not press the diseuE;; • Zr. , &tia i % ti t kit th 4t e It :tve qm 411,12 t'estoi2#e tc • deT,: t Ittaf ! e d by I, • 2 !' rtm, th;i t ' c ePt Rnota ittl/4;talhle, i P i wet 6 y r6Ur h Viet • a* 46e .1/4! that .t 4 e i n 4: , leatA t Zie .f.k , % - 't h at I:Q' atti l e"lr. ti , tht tal c to_ ?otter se 141 _? it I .nteC 4 l,4 l )U . me tsl6 l - 7 et c° , , itt uce r Oti - ----"- - - :r 4 S' SILVER PLATED CORNER pl°j. 0 11°- T. CO X SAVORY , Manufacturin Silvers mith, No. 47v bo t) hilt, Lond on (S even d oors f rom Grt.rcechrach-street), slaps( the prices of th e f o ll ow i ne v a tterns of strongly Plated '1 for Dishes, with s il ver handles') and edges, and silver sbiel"- engraving th e crest or coat o f arms: — 0 Four Str ong l y plate,ThceorGneadrrpooinshPesaatntedrnc.oves... 4 . 10 10 Four Extra Strongly Plated Corner Dishes and 12 1 , Covers .......... ........ ... .............................. The Flower Pattern. , s , 0 Four Extra Strongly Plated Corner Dishes and 3 Pi s ,st Covers ............... . . .................. ' dies,l 1"- N.B. The covers a ' re ... m ... a . d . .... ;v . i . th moveable han s°,,AtO they form extra dishes. Drawings of the above forwar° a:222102 Great itta2lc:2:22,2ostage fl o e; Wlso ,0 London: Printed and Published by MURDO •—• ( 4, 1 No. 112 , Strand, at The Sun Office, No. 112, the County of Middlesex, Friday, February 25, }AO' Ju st til i t t : lll Z4 es. vg QV; °W.?. Pi GREAT WESTERN RAILWAY. The 13th Half-yearly Meeting of the Directors and Proprie tors of this Company took place yesterday, at the Company's Office., Prince's-street, Bank, for the purpose of receiving the Eeport of the Directors for the last half year, to elect Directors in the room of those who go out by rotation, and for other business connected with the Company. 1 he Chair was taken at one o'clock, by CHARLES RUSSELL, E'q., M.P. for Reading. The notice convening the meetinr , having been read, and the Corporate Seal having been fixed to the registry of Pro prietors, The CHAIRMAN said that the Directors had great pleasure in laying before the Proprietors their Report for the first six months, during which their entire li n e had be en o p ene d, an d they felt confident that the result of that period would prove highly satisfactory to the Proprietors.—( Cheers.) An average traffic of about 13,0001. a week, if they took the whole line, had taken place, and about 11,4001. if they took only that portion which belonged to the Great Western Railway Company. That, he thought, would satisfy the most sanguine expectations, and would be a most favourable comparison with any other railway in the kingdom.— (Cheers.) This period tubraced an example not only of their summer traffic, Lut the winter one, and demonstrated that there was not, as it h id been sometimes called, merely a summer traffic, but a busi ness traffice ; a standing winter traffic quite proportionate to that of their summer traffic, and equal to that of the must pros erous of their neighbours. He had no apprehension of their raffic not increasing, as the traffic of all other lines had increased subsequent to their opening. The Bristol and Exeter Railway had proceeded towards Exeter and Cornwall, and he hoped that means would be devised to enable the Cheltenham Company also to proceed toward Cheltenham and Cornwall, and the South of Wales. Their traffic in merchandise was sub • siantially greatly on the increase, and it was very probable I hat a new traffic both in coal and stone would be este hished. —(Cheers. ) He entertained great hope that the recommendation of the Commission, appointed by the Govern ment, to determine the harbour for the reception of the West India Mails would be adopted, and that Dartmouth would be come that harbour. An arrangement was in progress to estab lish a communication between Bristol and the South of Ireland. These various sources of increase, else the fa cilities and growing up of travelling, he thought justified them in forming the most sanguine expectations that their traffic was likely to become great in the extreme. If such was the actual slate of the flattering prospects on the credit side of their ac count, he hoped they would think that the debit side exhibited an equally favourable aspect. In the course of the last six months they had reduced their expenditure from about 45 per cent. to 37 and one-third per cent.—(Cheers.) He was glad to perceive that the Proprietors considered that a considerable reduction. The Directors looked to a still further reduction, to a proportionate reduction as their le ceipts should increase, and to a positive reduction when their means for providing coke was completed. They would then be enabled to devise other means for the more economic management of the concerns of the Company. He could assure them that the Directors had devoted their attention to the means of reducing the expenditure.—(Cheers.) At the meeting in August last the Directors laid be lore the meeting the estimates of the sums then re quired for the completion of the line. A Committee had been recently employed, for the purpose of comparing their actual expenditure to the 31st of December, with those esti mates, and it would be gratifying to le arn , that the investiga tion ,entirely sustained the accuracy of those estimates.— ( Cheers.) He was satisfied that that must be peculiarly satisfac tory, especially when they recollected the extraordinury season through which they had passed, and the great expenses entailed on railways, particularly those of recent construction. The Directors were desirous, if practicable, to close their general capital account to the 31st of Dec. ; but the incomplete state of the works at Swindon, and other minor works, had rendered it impossible; added to this, it was thought that it would not be wise to hurry Mr. Brunel in his final adjustment with the contractors.—(Loud cheers.) With most of them arrangements had been made, and they had been paid up closely, and the Directors were anxious at the earliest period to close their capital account.—( Cheers. ) The result of all these favourable circumstances was to enable the Directors to propose a dividend of six per cent. per annum for the last six months, which they thought was a large dividend for the first six months of the first working of the line.— ( Hear, hear, and cheers.) At the same time it was a fair and honest dividend.—(Cheers.) They had not made it till they had paid every shilling of interest on every debt— ( Cheers.) He did not believe that a single item had been carried to the general capital account, which was fairly chargeable to the account of maintenance or manage ment.—(Cheers.) He would now request the Secretary to read the Report, which he trusted would prove as aatistactory to the Proprietors as it was to the Directors. He thought that Report would justify them in looking forward ith the greatest reliance to the future prosperity of the enter prise. The SECRETARY then read the following REPORT:— The Directors have on this occasion, for the first time, the pleas. ing duty to present to the Proprietors the detailed accounts and re sult of six months' business on the entire line of the Great Western Railway, together with that on a portion of the Bristol and Exeter Railway between Bristol and Bridgewater, and of the Cheltenham Railway between Swindon and Cirencester, both held under lease. The gross receipts of that period up to the 31st December, 1841, were 337,35 W. 4s. 2d., of which sum 295,010/. 18s. was earned exclusively on the Great Western Railway. A further amount will have to appear in some subsequent account, as the re. eipt for extra service in conveying mails, no credit having yet been taken for working two mail trains over the Bristol and Exe ter line, nor for the day mail service between Bristol and London, in consequence of the Postmaster General's notice to refer the sub ject to arbitration. The daily rate agreed for anterior to the per. fiirmance of that additional duty is the only sum credited for mails during the half-year, and pending such reference. The number of passengers conveyed on the line between the Ist July and 31st December, 1841, was 882,119, travelling an aggre. gate number of 27,538,764 miles. The expenses on the traffic are furnished in detail, and com prehending every office charge of the Company, they amount to 125,910/. 6s. being in the ratio of 37,323 per Cent, on the receipts. The Directors cannot doubt that this result will prove highly sa tisfactory to all who have embarked property in this undertaking, and may be considered a pleege of the future and progressive pros.. perity of the Company. The expenditute has been watched by your Directors with the most anxious attention to economy on the one hand, and to the requisite efficiency of their establishment, and se curity of travelling on the other. The locomotive expenditure for the half.year has been 40,1101. 195., of which 22,144/. 3s. (as may be seen by the printed analysis) was paid for coke. One half of the whole quantity of coke con sumed during last half-year was, of necessity, procured in London, and of course still, at a comparatively high price, The arrangements are now so far advanced as to admit of the Company obtaining at Bristol, for the present half year, all the coke required, over and above the produce of the coke ovens be. longing to the Company at Hillingdon (which are just adequate to supply the locomotive engines in the Paddington station), and some reduction may consequently be anticipated in that branch of locomotive expenditure. The repairs of engines, however, in the present ha'f-year, appear likely to be rather heavier in proportion, and may'perhaps absorb such contemplated saving in the price of coke. The number of miles run by the engines during the half-year to 31sti December, was 673,398, of which 613,616 miles were travelled by regular engines, with trains of passengers and goods, and 26,654 miles by the assistant engine upon the Box incline. The period has not yet arrived when any comparative returns of revenue or traffic can be usefully offered to your notice, inasmuch as the recent opening of portions of the line prevents statements being deduced of the same traffic from any fbrmer corresponding period. The ratio of expense to receipt is the only exception, and that comparison is therefore stated in the accounts. With reference to the Government duty, it is proper here to mention that the payment of 15,940/. 14s. 11d. comprises a portion of that for the month of June last (dtiring which there had been partial open. ings of new lines), as well as the whole sum far the latter six months of the year, and the ratio to receipt will, from that circum stance, appear to have been increased. The Proprietors will not fail, of course, to perceive that IL e total expenditure of 125,9101. 6s. for the half.) ear is not for the 118 miles of Great Western Railway alone, but for working 169 miles of railway, including 34 public stations, used for the convenience and accommodation of traffic upon the three several lines. The first charges upon the profit of the half-year's business con sist of the interest on the Company's debt, and the rents payable under lease to the Bristol and Exeter Railway and to the Chelten ham and Great Western Union Railway Companies. The sums respectively paid are as follows : Balance of interest on all monies lent to the Company, after de ducting interest received Bristol and Exeter Railway, one-half year 10,887 12 6 Cheltenham and Great Western Union Railway, one-half year 8,500 0 0 £93,259 10 11 Thesedeductions from 212,446/. 16s. (of which 1,004/. 17s. 10d. was the residue on 30th June last, and 211,441/. 18s. 2d. the profit of the last half-year), would leave a balance of 119,187/. ss. Id, available to the Company. There are two points, however, which have engaged the atten tion of the Board,ln reference to this balance, and they are desirous of taking the opinion of the Proprietors upon both of them It wilt be observed, that in the account for expenditure, which embraces every charge for keeping and maintaining the plant of the Company in an effective state, no separate provision has been made for a fund to meet the probable depreciation of stock which must accrue with time. While it can be scarcely disputed, that prudence and foresight should dictate a certain provision to meet such an anticipated reduction of value, the Directors do not think any benefit is derived from pretending to ascertain periodically the opinions of parties, however competent, as to the then supposed value of such property. On the contrary, they ti ink injustice may sometimes result from the adoption of any such arbitrary system, and after devoting their best consideration to the subject, they would much prefer that a fixed scale of amount should be deter mined to be set apart for a period of years, such as may be reason. ably estimated to meet the entire depreciation for the time, so that in the interval this accumulating sum may gradually and equally fall over each period, and therefore equitably upon all who may, :torn time to time, be the holders of the Company's Stock. If this view shall be acquiesced in, the Directors would recom mend that 20,0001. should be annually appropriated for a period of ten years, to redeem the depreciated value in the first cost of the locomotive engines, carriages, and other moveable stock of the maintainedCb u o T m r she p me a n eo y nt , ht t se h iron e n swautnlrbi aojeffie subject ffe traffic. ct b . t e i i v n e g . i t n a t e t , h a e n m d e p az t d i m f e e r k e i p n t u t h p e , r e e r n d e i e w e e t d y , d a Il i : . to be submitted for the consideration of the Proprietors relates to the re el n w t ac r Ce i no c m h anp i t s r p oy a i yable under the lease to membered,tßristolhe and tha Exeter ten e of Railway the dede It t .1 riwpneeine deedl opened eb p doe r tffowo3breao renderede b t, onr l probably oßffibir c. ei this h r toeo e inl a, C , ni t: dn m eu p mr a i n ,d y gfee l tw i atabtlpeei:otsnthileoynutioodf a ntoh m te o b i ne e r t sc y to emyfepaltreh,teed i f or before the Ist June, 1841. Notwithstanding every exertion on the part of the Bristol and Exeter Railway Company, the contingency so provided for did actually occur, and it was not until the 14th day of that month that the line to Bridgewater was ready for use. This circumstance accounts for the diminished payment of rent for the half.year, viz.:— Moiety of the fixed rent, say 15,0001. per annum....£7,500 0 0 Ascertained tollage on passengers and goods ......... 3,377 12 6 £10,877 12 6 Under the terms of the lease, the same reduced scale of rent would continue payable until the 31st of March, after which the Bristol and Exeter Railway Company will be entitled to receive rent at the full rate of 00,000/ per annum, besides the agreed tat age on passengers, merchandise, and coal. The circumstances under which this heavy infliction of a penalty was sustained by that Company, became the subject of discussion between the two Boards, during which it was apparent that your Directors could not, upon their own responsibility, undertake in any way to release them from any portion of the loss which had been so indisputably incurred. Your Directors, in the course of several conferences, were how_ ever led to entertain the belief that it might be arranged for the mutual interest of both Companies conditionally to concede the pay ment of the greater portion of that difference of rent, provided they could thereby secure fixed and advantageous periods for the future opening of the remainder of that railway, to which the Bristol and Exeter Railway Company had not bound themselves by any co. venant in the original lease. When it is considered that the main benefits contemplated in working that line, were to bring and secure the Devo ns hi re and Cornish traffic, more directly to the Great Western Railway, i t must be apparent that the acceleration of the pr ogress and co mpletion of line beyond Bridgewater, must far outweigh any consideration of such saving as could be obtained from the reduced rent, during only a few months of the first year. To accomplish this purpose, a negotiation ensued between the two Companies, and it has been rec i procally agreed by them to submit to their respective Proprietors an arrangement of which the fol lowing is the outline, which your Directors strongly recommend of ;Qui ;auction and approval.