The Express.
London, England, 1853-10-01 00:00:00

PARIS AND STRASBURG' RAILWAY.

On Werines;lay, an extraordinary general mePting
of the proprietors w•es held iu Peri.. Count us Stuvu in the
chair. Teeot•juetfor which the meeting had been called
was to "delibtrate on the convention .greed to with the
61inister of Public Work., relative to the concession of the
foaming railway lion, all in fa. east of France : —l. From
Para to Mulltaneen by Troyes, Clermont, Vesoul, and
Seifert, with a branch to Couloturniers. 2. From Saucy to'
Gray, by Epinal and Vesoul. 3. Fr tm Paris to Vincennes
gad St. Maur. 4. The anaexation of 'no lipe from Monte•
reau to Treyes: and, tufty, the annexation of the line from
Bleseies to fit. Dicier to Oray. To deliberate, also, on the
powers to he given to the board of directors for the eventual
purcham of the riilway from Strasburg to Beale and Wit.
sembure, as may be best for the interests of the company ;
and to authorise the board to solicit the government
to consent to certain modifications of the statutes
called for by the convention of the 17th August."
The repot' stated that the receipts of the first nine months
of the current year warranted the distribution of a divi-
dend of upwards of 10 per cent. In a low months more the
opening of the branch lines from Epernay to Rheini., and
from Metz to Theunville, would still more add to the re-
venue of the company. But in presence of the general in-
duetrial movement which was now taking place in France,
it was inevitable that a certain number of new lines must
be required to the south of the Strashum line. Between
that railway, which proceeded due east, and the Lvons line,
which after arriving at Dijon was sure to strike out to the
soutle•east, there lay several department, rich in popula.
teen, in manufactures, in agricultural produce, and in
mineral :productions of various kinds, which would, be-
yond any doubt, require railway accommodation. :There
were thehaute-Soeae, the Haute Marne, and the
Vosges, all rich in minerals, coals, and manufac•
tune of various kinds. . All these departments would
require railways ; and, in addition, I', was certain
that the Strasburg line would never be suddient for
the gnat commercial movement which existed between
'Havre and Switzerland. New lines consequently were
certain to be constructed, and the whole question to be
solved was this—ought the Strasburg Company to undertake
these lines itself, or allow other companies to step in and
execute them ? The report then passed in review the ad-
vantages likely to accrue from annexation of the lines men-
tioned above to the Strasburg line, and showed that the
directors would have acted most unwisely in allowing any
other companies to interfere with the ground which actu-
ally belonged to the Strasburg line. It enumerated a
number of the tenders sent in f r various lines to the south
of the Strasburg railway, and stated that the whole number
was not less than 22. Ceder such circumstances, the
directors of the Strasburg line could rot hut send in
a proposal to the Minister of Public Work., and their
offer was submitted with the others, in the usual course,
to the consultative railway committee. After long and
mature consideration, the committee gave an answer,
deciding in favour of the offer of the Strasburg Company,
and the Minister of Public Works confirmed that de-
cision. The report then showed that from the fact of
the Strasburg Company haying an eztensibe terminus at
Paris, a notable economy must of necessity arise from its
having all the eastern lines in its 'own hands, as a second
terminus would thereby be avoided. With respect to Vin-
cennes, the Strasburg Company had left it out of its con-
sideration ; but the minister very naturally thought that so
important a fortress ought to be directly connected with
the railway, which was confessedly the most importsut, in
a strategical point of view, in Froice. A considerable
portiere of the report was taken up with en es, tttt ination of
the conditions on which the Strasburg Company had agreed
to take the Imes mentioned already, with a view to prove
that it was its interest to have the whole network in its own
hands. "The annexation of the railways in the in-
terior of France," said the report, " is not the only element
of our prosperity ; there it another almost as important, but
which we have not token into account in the appreciation of
our revenue—namely, the construction of the railways of
Europe. From the other bank of the Rhine the movement
gains strength, and spread. even to the cuntine. of Turkey.
All the railway lines tend to unite together, and all converge
towards France. As much formerly a. money and exertions
were expended in isolating one country from another,
so much in the present day they are employed in
sweeping away all frontiers whatever. Already in leaving
Paris a traveller can, without even quitting the rail, arrive
at the shores of the Baltic, by Lubeck, Rostock, Dantzic,
and Konigsberg. Railways connect Paris without any
break with Frankfort, Hamburg, tadpole, Dresden, Berlin,
Breslau, and Warsaw. A railway line, which pluses by
Prague, connects together Dresden and Vienna. From
this ,coital of Austria, a direct line, now almost terminated,
proceeds to Saarbrack and Forbach, passing by Munich,
Stutgard and Mannheim. Another line, also starting from
Vienna, descends to Trieste, with a branch to Bruck, can
the direct :ine from Vienna to Paris. Before eighteen
months have elapsed these last two great lines will be com-
pletely finished. From Vienne the railway to the Danube
has already gone beyond Pruth, and that from Warsaw to
St. Petersburg is in full course of execution. It suffices to
glance at the map of Europe to remain convinced that the
company in possession of all the eastern network of railway
lines is called on more than any other to profit by the move-
ment created by the foreign lines. The eastern network has
its starting point is Patio, Heel opens, like a fan, as far as
the French frontiers. Ou one side it touches Belgium by the
line from Metz to Theouville' carried en to Arlons ; on the
other side it is connected by Mulhausen and Timm with
Switzerland, which is herself constructing railway lines;
and it reaches the north of Europe by Prussia and Forbach;
it Is, in fact, the real railway to Vienna and to Trieste,
through Strasburg." The report then stated the terms of
the convention signed by the Minister of Public Works
and the directors of the company on August 17 . and pro-
ceeded to give details of the length of the several lines, and
the probable cost of their construction. The whole length
of all the new lines was 1,040 kilometres (6.10 English
miles); but as the parts already constructed amount to
265 kilometres, the real length at the charge of the S ras
burg Company was 775 kilometres (485 English miles). The
cost of these lines was estimated at 210 millions, to be raised
in the manner set forth in the treaty agreed to with the
Minister of Public Works. The report then to [erred to the
probable receipts of these new hoes, and showed that,even in-
dependently of the traffic which they must bring to the main
line, they were calculated per se to add to the receipts of the
shareholders. "To bring the question now under consiac-
ration to a close," says the report, "it remains for us to
state what are the consequences of the new situation fur any
shareholder of the Strasburg line at the present
time. The gross receipts of the present line wile
amount to 33,003,0001'. The gross receipts of the new lines
to 23,300,000 f. Total, 56,300,000 f. From this deduct ex-
pellees of every kind, at the utmost 35 per cent ,19,705,000 f.
Interest and sinking fund of 120millionsof bonds,6,ooo,ooof.
Total, 25,705,000 f., leaving a remainder of 30,595,000 f., or
for 500,000 shares 611. 19:. per share. In order to procure
for the company the means of exe.nting the engagements
resulting from the treaty agreed to with the Minister of
Public Works, the social capital, originaliy fixed at 125
millions of francs, divided into 2.50,000 shares of 500 francs
each, is to be increased to 250 millions, divided into 600,000
shares of 500 francs each. In consequence, 250,000 shsresof
500 francs each would be created, and placed at the disposal
of the present shareholders of the Strasburg Company, ac-
cording to the number lossessed by each, the first payment
being 100 f. per share." The report then referred to some
minor point*, such as the mode of paying the interest
and dividend, which the board proposed to fix for the
future as follows: to pay the interest of 4 per cent. on
the let November, and dividend of the preceding year
on the let of May. The report also proposed to put aside
the sum of 75,000 f. each year towards a pension fund for
all persons employed by the company, whose salary did not
exceed 3,0001. a year. M. Arnoux having resigned his
place as director, M. Emile Pereire, se remarkable for his
experience in railway matters, was proposed in his stead.
Lastly, the report announced that, in order to ensure to
the present shareholders all the advantages of possessing
the new shares, which were to be issued, the Strasburg
board of directors had passed a treaty by which the
Societe Mobiliere, on the deposit of the Strasburg shares,
advance during the period of a year the first two-fifths
to any persons desirous of taking up the new shares, the
said Societe Mobiliere being contest for so doing with the
interest of 4 per cent., allowed by the company on the sums
paid up.
The report was received with loud applause.
A short conversation then ensued on some of the points
touched on in the report, the principal one being that the
expenses of the Mulhausen line would not be more than
250,000 f. per kilometre.
The various votes on the order of the day were then put
to the vote, and adopted with acclamation. That giving
the approbation of the meeting to the treaty pealed with the
Minister of Public Werlui was adopted unanimously, with
the exception of one voice.
A vote of thanks to the board of directors was carried
with acclamation.
The proceedings then terminated.

TOURNAY TO JUREISE, AND LANDEN TO HASSELT
RAILWAY COMPANY.—A special general meeting of this
company was held at the Brussels office, on Tuesday, the
27th ult., Mr. Robed William Kennard, the president of
the company, in the chair. Mr. Kennard opened the pro-
ceedings by stating that the shareholders had been convoked
on that occasion for the discussion and adoption (as he
trusted) of the contracts entered into with the Belgian
government and the Aix-la-Chapelle Company, touching
the extension line from Hesselt to Maestricht. These con-
tracts, he said, had been made provisionally, bat would be
ratified by their simple adoption by the present meeting.
He had the gratification of being himself the representative
of a large section If the English proprietary, having re-
ceived proxies from the holders collectively of 13,778 shares ;
and but one opinion existed amongst the parties in ques-
tion respecting the great advantages secured to the com-
; patty by the terms that had been made, and of the excel-
; lens of the undertaking, from which they were to reap a
certain gain without any advance of capital by the share-
' holders or the smallest risk or responsibility. He then
called upon M. Bruneat, the resident director, to read the
report, an abstract of which has already apoeared hi the
Express. The report having been unanimously adopted,
1 the meeting proceeded to despatch the business of their
ordiaary meeting. The balance-sheet was agreed to, and a
I dividend was declared of 7 62f. per share in Belgium, and
6s. per share in England, payable on and after the 10th of
October next. A vote of thanks to the chairman was pro-
posed by Mt. Lewin Morley, of Liverpool ; and a similar
vote to M. A. B. Bruneau and the board of directors was
proposed by M. Oulif (a shareholder), and passed by imola-
i mation, after which the meeting separated.
andA NavalliMllt I tit':
tY, ItoN TIM,
rEaNidT:
,—,g;C igps
tl
earl 11,,
P Assistant J. Robertson, to Queen; Boatswains, W . Richards,
i to El. George, and J. Turner, to Apollo; Gunner W. J.
'uSctkirr T.3P°..—APPOINTMENT*
Latham, and Carpenters P. Landon and B. Borchelt, to
Apollo.