The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1859-04-12 00:00:00

ilailtnag Entaligcnce.

LONDON AND SOUTH-WESTERN.

A special meeting of this company was held on Tlinrs
day, at the Waterloo Station, to consider six Bills now
before Parliament, in compliance with the standing
orders of the House of Lords ; Captain Mangles, M.P.,

- •
in the chair.
Mr. Crumble, the secretary, read the notice convening

the meeting.
The Chairman explained that, although they had
several Bills on their list, it was intended to submit only
one of them to the meeting, and postpone the consider-
ation of the others to the ISth inst. There WAS HO
doubt that the House of Commons would provide for
suspended Bills being conimenced in the next ses..ions
at the point or stage at which they might leave off on
the dissolution of the present Parliament. He had to
submit the first Bill on their list, which was to authorize
the South-Western Company to make new works.
The Solicitor then read the heads of • Bill to autho-
rize the London and South-Western Company to con-
struct junction and loop lines at Twickenham, Barnes,
and gither places to facilitate traffic to and from the
North and South. Western Junction Railway, to pio•
vide improved station accomodation at Southampton and
other ;daces ; to raise additional share capital of 1100,01.10
and to borrow 4:33,300 ; to make arranguients and agree-
ments with respect to the Portsmouth traffic, and for
working the l'ortainouth Railway, subject to the
approval of three•fifths of the shareholders at a special
meeting convened for the purpose, and also subject to
the approval of the Board of Trade. It also propteed
to reduce the number of directors to not fewer than
nine.
The Chairman moved a formal resolution approving
the Bill.
Mr. Herajmtla thought they should give the details as
to the cost of the works they proposed to execute.
Tho solicitor stated that tirooo was the estimate of
three of the works they proposed to execute, at King.
stem, Barnes and Kew; the stations would require
12.5.000, making the £lOO.OOO.
Mr. Edilington wished to know when it was likely the
present ruinous competition would cease. If the directors
could not settle it, the common sense course would be to
appoint a conimittee of shareholders. (Hear.)
The Chairmen was glad the question had been put.
lie had no doubt they had all read the iitatement in the
Timms of that morning on the subject of the competi-
tion. Their Board had done all they could to maiatain
pease ; they had made every concession to the Brighton
they could, and they Were not this parties who had
reduced the fares. Till' Brighton t'ouniany hail reduced
the fare, on the 14th ult., but it was not until the :Ali
of Mareli that the South-Western Company wete coin'
pellml to lower the fares to Portsmouth. They had
done no most unwillingly. It Was entirely against the
wishes of the Board that such • ruinous course as that
adopted by the Brighton Company should be followed.
'rimy were most anxious that it Should CeSAC, His Col.
league, Count Eyre, had reminded him that the Brighton
Company dill not tell them beforehand of what they
were going to du ; in fact, they knew nothing of the
reduction -of fares until they saw the bills announcing it.
A Shareholder wished to know whether there was not
an agreement in existence between themselves and the
Brighton at the time the South-Western Company agreed
to lease the Portsmouth line.
The Chairman said there was such an agreement.
When the Postsmouth became a reality it also became
of importance to them to prevent that line cutting into
their system, for it flanked them for • considerable dis-
tance, and it WAS evident that they WOW much more
affected by the construction of the Portsmouth him than
the Brighton were. The Board were quite ready to
defend the course they had adopted with respect to ,that
matter.
Tim Shareholder understood that the South-Western
hail broken their agreement with the Brigthon Com-
pany. He believed it was stipulated that no rival
scheme should be entertained without the assent of the
other.
The Chairman said there was an agreement with many
clauses. HOMO of those clauses have not beets adhered
to by the Brighton, but they had offered to give them
the mune terms they had before. Ile could not under.
stand how the Brighton Board could justify their course
to the shareholders.
The Shareholder thought they must expect d• " had
dividends, and be believed if the company hail not en-
tered into the agreement with the Portsmouth Company
the quarrel would not have occurred.
Mr. Herapath believed there was only a difference
of about L'2,000 lietween the Boards of the two com-
panies, and he thought it • pity they could not settle it
amicably.
The Chairman, with great submission, wished to say
they were for peace, hut if they were to state their cage
it would CALMS irritation. They had no party feeling or
jealousy to carry out ; they knew the vast property they
had to protect, and they were ready to come to terms ;
they did not begin the ruinous prices, and they were quite
ready to atop them.
Mr. Puncher would not agree to the Bill because of the
competition. lie believed theircompany were the aggres-
sors. because they took up the Portsmouth lane, which
was • rival or competing scheme. He moved that the
meeting be then edjounied.
Mr Hutchins, a director, explained that the Bill before
the meeting had nothing whatever to do with the com-
petition. It was necessary they should make certain iin-
pniveinents at Southampton and other places on their
lines to prevent rival schemes from obtaining a footing.
Mr. lierapath said, although he was opposed to exten-
sions, and particularly to the Portsmouth scheme, yet
he considered that the Bill in question WAS entirely inde-
pendent of the dispute with the lhmighmton Company, and
if the directors could assure the meeting that the works
were necessary, either as defensive measures or to im-
prove the traffic he would vote for the Bill.
Mr. CharlewoOd seconded the motion for adjournment
which was rejected by a large majority, and the formal
resolution, approving the Bill was carried.
The meeting was then adjourned to the 18th ISA.