The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1858-05-18 00:00:00

Raittpap Ettelligence.

LONDON AND SOUTH-WESTERN.

A apecial meeting of this company was held on Thurs-
day last at the Waterloo staton, to consider, in accord-
ance with the standing ordess of the House of Lords,
one Bill now before Parliament promoted by the
company and certain clauses in five Bills promoted
by other railway companies; Mr. Castleman in the
chair.

Mr. L. Crombie, the secretary, read the notice con-
vening the meeting.
The Chairman explained that the office of deputy-
chairman had not been ailed up for • long time, but the
mac ical adviser of their worthy chairman having recom-
mended some relaxation from his duties, his colleagues
had appointed him (Mr. Castleman) deputy-chairman for
two or three months. He was sure it would be equally
satisfactory to them, as it was only a temporary matter,
and at the same time they had the full advantage of Mr.
Chaplin's advice on any matter of importance. The
first Bill which he had to submit was one to enable the
London and South-Western Company to construct new
works, to make a brasish line to Topsham, to purchase
lands at Basingstoke and other ylsoos for impressed
station accommodation, to form • new junction with the
Southampton and Dorchester Railway with a view to
facilitate the traffic between London and Weymouth,
the works of which were very nearly completed. It
also authorized them to work the Wimbledon and Epsom
Railway, and to advance £30,000 on shares, and this
would give them power to borrow £20,000. It also gave
the South-Western Company power to guarantee the
loans of that company, by means of which they could
obtain the money at a lower rate of interest ; and, SS
£30,000 out of £70,000 would be subscribed by the
South-Western Company, it was their advantage to bor-
row the money as cheaply as they could. The Bill also
revived the powers for raising the necessary capital for
doubling the Dorcheeter line. There were, also, clauses
relating to the leasing of the Salisbury and Yeovil Rail-
way. When the Bill came before Lord Redesdale he
objected to leasing the line in perpetuity, but after some
discussion te added a claim which provided that if the
South-Western Company did not purchase the Salisbury
and Yeovil Railway before the end of 20 years they
should convert the floating remuneration to that com-
pany above 47i per cent., retained for working expenses,
into a fixed rental. They would thus, to a certain
extent, be compelled to become the owners of the
Salisbury and Yeovil Railway, instead of being lessees
in perpetuity, as was originally provided in the Bill.
Mr. Herepath thought they would have understood
the matter much better if a map of the lines were hung
up in the room, and he wished to know why they had
not a map in the room on that occasion.
Mr. Birchain, the solicitor, stated that the maps were
in the committee-room of the House of Commons, but
might have been brought to the meeting, as they had
done with them. He then read the heads of the Bill.
It authorized the company to raise £300,000 on shares
and £lOO,OOO on loan. The suni of £.100,000 included
£lBO,OOO for widening the Dorchester line, £20,000 for
the purchase of land at various places, £30,000 for the
Epsom line, and £70,000 for new works and the Topsham
branch.

Mr. Herepath said he believed it was not intended to
extend the Epsom line, and their company had been
committed to a subscription of £30,000, which would
not pay them 2 per cent. He had a great objection to
guaranteeing the bonds of that company; they should
avoid guarantees of all kinds, or anything having a ten-
dency to deprecate their property.
The Chairman then moved a formal resolution appro-
ving the Bill, subject to such alterations as the Directors
or Parliament might deem necessary.
Mr. Snow seconded the motion, and in doing so said
that as the matters referred to in the Bill had been fully
discussed and agreed to at former meetings of the com-
pany, he thought there could be no objection to the
motion.

The resolution wee put, and carried unanimously.
The next Bill submitted was one promoted by the
Exeter and Exmouth Railway Company, enabling them
to abandon a portion of the authorized line, and to make
working arrangements with the South-Western Com-
pany, subject to the sanction of a majority of three-
fifths of the shareholders at a meeting specially convened
for the purpose.
Mr. Hutchins seconded the motion for the approval
of the Bill, and it was carried.

The Solicitor read the heads of • Bill promoted by the
Portsmouth Railway Company, the object of which was
to authorize the company to abandon three miles of
parallel railway from Godahning to Shalford, and to con-
firm an agreement with the South-Western Railway
Company for using a portion of their line.
On the motion of the Chairman • formal resolution,
approving the Bill, was adopted.
On the motion for the approval of the Salisbury and
Yeovil Bill some discussion ensued, in which Mr.
Puncher, Mr. Herapath, Mr. Hutchings, and Sergeant
Gaselee took part, in the course of which it was stated
that powers were given in the Bill to sell the railway to
the South Western Company ; the traffic on the line
was to be worked for 47i per cent, of the receipts, and
at the end of twenty years the claim to the net receipts
must then be commuted into a fixed sum, should the
line not be purchased before that time.
Mr. Herapath seconded the motion approving the
Bill, and it was adopted.
The Chairman then submitted the Staines and
Wokingham Railway Bill, and stated that it contained
leasing powers subject to the approval of three-fifths of
the shareholders represented at meetings specially con-
vened for the purpose, and also to the revision of the
Board of Trade at the end of 10 years.
Mr. Mortimer though the shareholders of the other
company would reject the Bill. He lived close to the
line, and could not not get into London before five
minutes to 10 in the morning, and could not leave
London to return home later than 6.30 in the evening.
He thought the South-Western Company' had not
worked the line fairly, and that they had sacrificed the
interest of the Staines and Wokingliatn Company.
The Chairman said the South-Western Company
were directly interested in working the line properly and
developing the traffic, because • large portion of it came
over their line. Any representations which the hon.
proprietor had to make to the Board on this subject
would be duly considered.
Mr. Serjeant Gaselee thought that Ave trains each
way were sufficient for the traffic. They were working
the line at a large expense, and the complaint of unfair-
nets was unfounded.

Mr. Ashbury seconded the motion for the approval of
the Bill, and it was carried.
The proceedings concluded with a vote of thanks to
the chairmen.