The Express.
London, England, 1855-06-01 00:00:00

LONDON AND SOUTH

RAILW,

A special general emoting of the proprietors of this
asepany washeld yesterday, at the Waterleorood Statists,
Os lisunker • bill now seadieg in parliament 6, for stabs.
Mile Ms aucuties et weeks by :he sempany, for regulating
theirMISMI, and for other purposes."
Mr. W. J. Commix. the chairman of aimless, pre:n*4
aid nearly 200 gentlemen were present.
The Secretary, Mr. L. Caostatn, first read the &paint wir
plot of the directors upon the subject of the eztession Hue
tom Dorchester, or from Yeovil to Exeter, which report
WO published in the newspapers last week. The directors
111111MRINS•ded the adoption of the clauses, by which the
assidtes• of the Houle of Commons to whom their bill
was refined seek to bind the company to construct this
Hee. If the company should refuse to enter into that sr-
rengereent, the bill must be abandoned at great loss and
inconvenience to the company, and probably they would
also be precluded from any application to parliament next
year.
lb. SOLICITOR (Mr. Bircham) read the heads of the bill
which is now blase* the House of Commons. Its objects
are to authorise an alteration of the levels of the Basingstoke
and Salisbury Railway, the construction of a short branch
at Lambeth across to the Nine Elam station, and of a quay,
wharf, and embankment on the Thames at Nine Elms; for
which purposes the sum of 9,0001. uto be allowed to be
raised by new stock : and the bill also provides for the con-
version of the preference shares into stock, and for creating,
when the proprietors may think fir, a new debenture
preference sthek, to pay off the mortgage and bond debts of
the company. The clauses which have been inserted by the
committee of the House of Commons (to enforce a fulfilment
of the pledge given by this company in 1853, upon the faith
of which the House of Commons rejected the Devon and
Thwart Railway scheine)agive thous the alterna.ive of ap•
plying fur a bill in the muftis. of 1856 and 1857 to make
ithin fi we years a single line from Yeovil or from Dorchester,
at the option of the company, to Harter; in default ef which,
unless the President of the Board of Trade shall certify that
the failure of the bill is not attributable to the company,
their dividends will be suspended.
The CRAIRkIAN said he believed there was a very divided
state of opinion amongst the company upon this question,
but many of the shareholders were desirous of extricating
the company from the difficulties and the obloquy in which
it had lately been involved. He noticed one or two stato
ments made in this controversy which were not quite cor-
rect. The single lisle from Dm:tester to Exeter, originally
intended, would have eat from 630,0001 to 700,0001., but
when it was to be made double the cost of it would amount
to 900,0001., and if the company were obliged to make the
line double from Southampton to D .rchester the entire cat
would be 1,100,0001. This was an explanation of an
apparent discrepancy. in the directors' estimates, of
which some complaint had been made in a letter
published in the Times by Mr. Dickenson. The
directors had endeavoured to make the best bargain
with the House of Commons they could, and felt confident,
now, that the dispute would have been terminated satis-
factorily, if the shareholders should sanction the arrange.
meet they bad made. The Board of Trade, the House of
Commons, and the public, agreed in regarding this Company
as pledged in homier to do that which as yet they had
failed to perform ; and it would be an useful responsibility
upon those who should now refuse to fulfil it, when the op-
portuaity was renewed. He was aware that the opponents
of the directors had made great exertions to obtain votes
to-day all over the country ; but it really appeared that
there was, notwithstanding their exertions, much indiffer-
ence to the question ; for out of some 4,500 voters in the
company, only 553 proxies had been returned. He trusted,
then, that the company would accept the proposed scheme,
and he would almost undertake to be Moped responsible for
its being a remunerative speculation. In conclusion, be
moved that the bill, as now submitted to the meeting, be

approved.
Count ETRE seconded the motion.
Mr. HELPS contended that the company bed only under-
taken to make a single line, and that Mr. Francis Scott, the
late chairman, est-faded his authority when be offered to
double the line. Therefore the pledge was not binding.
Boddie, the meeting of May, 1863, had no right to decide
on such an undertaking at all ; the matter was beyond its
province. Even if these were a pledge, the legislators had
released the company from it by passing a bill this asrion
for another company to make a line !row Maiden Newton
to Bridport, which quite altered the circumstances. He
moved, as an amendment, that the meeting should not ap-
prove of the bill.
Mr. DICKINSON seconded the amendment. He resented
the assumption of a committee of the House of Commons to
erect itself int* a tribueal and pass sentence upon this com-
pany, forcing it to make a railway which he felt confident
would pay its espouses.
Mr. ADDISON spoke In support of the original resolution,
urging that as the company had got the benefit of defeating
the Devon and Dorset Railway Bill in 1853, it was bound
in conscience to ezecate the work which it had promised to
do, end which parliament thought was required by the

-.t
Mr. ry.
PCNCHARD spoke on the other side, observing that
there were many iestancee of the promoters of railway
undertakings abandoning them, and he did not see why this
company alone should be punished for it.
Sir Julia WALsu, M.P., thought • strong Case had been
made out against the chances of the proposed line being
remunerative, and it would he better for the company to
withdraw this bill, than to submit to an interference which
was likely to be prejudicial to railway property throughout
the kingdom.
Mr. WELL. warmly recommended that the pledge should
not be repudiated.
Mr. Serpent Omists. (a director), then made an ener-
mad speech against the course pursued by the committee,
and spinet the claims which they hive inserted in the bill.
He ridiculed the policy of extensions westward, and pre-
dieted that those who found it profitable to promote
them would not be content to stop at Exeter, but would go
on to Plymouth, and thence to the Scilly Islands. The com-
pany should not submit to be bullied out of their property
without being heard. They should either withdraw their
bill at once, or fight out the question in the Home of Lords,
Ruder the Wharneliffe order.
Mr. Hawaii( (the solicitor) said the bill could not be
withdrawn without the leave of the house.
Mr. HUTCHINS. M.P. vi director), replied to the speech
of Mr. Serjeant Omelet, whom he decayed to have es-
pressed, at the time, his satisfsction with the resolutions of
the committee, provided that any offensive allusion to the
company's having broken its pledge were expunged from
them. He (Mr. Hutchins) did not object to the dissentient
proprietors petitioning the House of Lords, under the
Wharucliffe order.
Mr. fierjeent GASILIZ denied, upon hie honour, that he
ever expressed himself satisfied to agree to the clauses im-
posed by the committee, or anything like them; ha had
had nothing to do with this hill.
Mr. Cooke addressed the meeting in support of the chair-
man's motion, although, be said, he was quite disinterested
on that side, for the only gentlemen prima with whom he
Ina acquaiiited were Mr. Saimaa Omelet, Mr. Helps, and
also Mr. Dickman, by whose representations it was that to
had been induced to become a shareholder.
Mr. LICIT (director) said that Mr. Bajada Omsk* mint
really have forgotten the circumstance to which Mr.
Hutchins referred ; for he (Mr. Lacey) beard the learned
serjeant declare, as distinctly as ever be beard a man say
anything, that the directors would he unanimous upon this
quest 10, and that the sooner the line was made the bettor.
Mr. Adjust Mumma again protested that the imartion
was perfectly untrue.
Mr. Migetas, M.P., briefly spoke against say repudie-
Boa of the company's pledge.
Mr. HAMILL attempted to speak, but there was much
impatiens. for a vote.
Oa a show of heads, the CII•111I•N pre his opinion that
them wore 66 voting for the amendment, end 63 against it.
The resolutionwas thee put blithe vote sad serried.
A poll was demanded, sad it was arranged to keep it open
until Tuesday nest at two o'clock.
There was another besinees to be done ; the election at a
director, to fill a plies at the beard foetidly made result by
death. Amidst a good deal of soefisdea, Mr. Cullen's'
was elected, aid retuned thanks.
Before the niestieg separated, the CHAIRMAN assumed
that he was compelled, by a sweindamiss which Mr. W. P.
Snell bad obtained against him, to dealers that gentleman
duly elected ons of the directors in August last; but the
hoard bad *greed to a rendition (whisk be )desroad mbi.
forth their opiates that it was necessary ter lir. las
give an explanation of metals eiresaassaasse bsisacias to
the election, before he should take his sent at the beard.
Mr. SHILL, in reply, declared his reedisem to give soy
explanation that could he required.
The meeting was adjoaraod, having Lasted sears thaa
Mar bears.
b. 7

TLAR AND ORIENTAL STEAM
NAVIGATION COMPANY.

Yesterday the 29th half-yearly meeting of this
ocanpaay wee held at the company's Aloes, Leadenhall-
street ; Sir J. Marnssox, Bart., M.P., in the chair.
The Csarassar, in opening the proceedings, said he had
great pleawire is informing the meeting that the affairs of
the company contissed fa the same prosperous state is
which he bad had the plumate of announciag them to be
on former occasions. The six months which had elapsed
since the last nesting had bees unmarked by any reveres
or any casualty whatever—a result is helping with the
former re:portent* of the eompeay, generally speaking, bat
which at the sane time was deserving of remark, as being
mainly dee, under Providesos, to the tinnier seal, latent.
pace, and general good conduct of the servants of the tym-
pany. (Cheers.) lie would not detain tho meeting by
say farther remarks from proceeding to the bushier of
the day.
The 811011 TART, Yr. C. W. Howell then read the re-
port, of which the following is an a eat :
It stated that data the last report two ships, the &vs and
Alhambra, had bees added to the lest; the former being
destined for the India, the latter fer the Pesissula suds%
and that both would be reedy to no la a moth's tins.
The Pen was expected to be sooty about the Ist of Asyut,
sad Oda vessel sad the An, It an_ revoked by the
ma fir Itn war soniseossoli tortuy Innen th=
notounisattesa as impedes* extort. trader the heed,
Tramped geniis." the mod sootiasei :
Tau waa sionse.-1151ms too doom et the sampants......
emsonsise M the quer to swift WWI leo% sow
is do ma onion myna the union =else mat, =la
at pen erns um ono Imp stan el tint hiskroanam the amp.
ing tab OM al griammelits sou Ise dosloprit
it ma ogye sellidisel Waft sei Ma andiellehis imps. alp.
Ad **nem et ssammeMso Or Or mkt* oatq parts&
limy • muds Ile notryorld trollesit M di= 1111 ello*