The Express.
London, England, 1863-08-04 00:00:00

RAILWAY INTELLIGENCE

MID•HRNL.

The half-yearly mccting of ChM company was
held at the office:, Dakratecet, Weatesinater, yesterday.
Mr.WILKINRON is the chair.

The report Sitie7grec tors has already been published.
The CHAIRMAN, in moving the adoption of the report,
said he thought the shareholders would be satisfied that the
line had gone on improving gradually in its position, and he
had no doubt, if no Interruption had occurred, the same
course would have been continued in time to come. Twelve
month. ago, however, a new line was projected from the
' South-Eastern Railway to Tunbridge. The Hid-Kent direc-
tors immediately approached the company, and told them
they thought they could have projected a better lice. They
bad not interfered with the Loudon Om" Chatham Com-
pany when they made a line to Beckeobam,
became it seemed likely to meet the convenience of
the public ; but in this caw they did interfere
I for the purpose of suggesting what they considered an on.
provement. Upon thus the South Eastern Company then
agreed to give them • guarantee of a minimum dividend
from the receipte of the last three years, and upon this they
acquiesced without further demur in the line being made.
lu reference to the short line from Addisoombe to Croydon,
he must say that they had been very much disappointed at
the result of the endeavours which had been made, as they
did not think the committee would throw out the bill.
Everybody wanted the line. A petition ems presented
signed by upwards of 1,000 persons and there was no oppo-
eitloo (earn the lasiorda, consequently there wee every
reason why it should be made, except, be suppeeed. that it
might not out the Brighton Company. (Hear, hear.) He
had just been looking over a statement of the Board of
Trade, in which they laid down as a rule that the construe•
tion of • railway should nut be prevented beams' of its
competition with another oompany ; audit was evident that,
if the committee adopted this rule in considering the line
from Addisoorabe, they would not have been refused. The
result would happily not be of much consequence to them,
since the parties who would succeed to the line would in all
probability carry out next year what they had proposed.
Coesidetiug that they were but • small company, and that
the terms offered were exceedingly fair, he thought the
shareholders would agree with the directors in believing it
desirable to accept the proposal of the South Eastern Com-
pany, which would really 'place them in • conuderebly im-
proved position. The terms were that the South Eastern
Company should take upon themselves the whole of the
debenture and prefersuos debt, sod pay the Mid-Kent
Company upon the origin.' capital 50 per cent. Kok, viz.,
give them 40,0001. in addition to their 80,000,.. upon
which they would pay them, as soon as the act was obtained,
4i per cent, interest. This would be rather more than by
per cent, on the original cepitel. He was the more satisfied
with this arrangement bemuse he believed it was a good
barrio for both corurnuies. Under all the circumstances
he hoped the shareholders would agree that the compact
was the best that could be made.

➢tr SIKTNON seconded the motion, agreeing with the
chairman io thinking the offer a stroke of the wisest policy
oo the part of the South Eastern Comp.oy that they could
pomibly have made, as it would have been the duty of their
own company to have made an extension, and possibly a
competing hue had they continued independent.
The motion was then carried.
The Cumulus' moved the declaration of a dividend of 2i
per oent. for the half-year.
Captain EDWARDS seconded the motion, and it was
altlerd to.
This terminated the busineu.