The Express.
London, England, 1849-08-22 00:00:00

THE EXPRESS, WEDNESDAY

MEETING OF THE. SUNDERLAND DOCK

COMPANY.

Oa Monday, the ordinary general meeting of the
shareholders of this company was held in the commission-
room, &wham-buildings, Sanderland, " for the purpose
of electing four directors and an auditor is the plane ul those
who retire by rotation, or who wen eligible for re-election,
and trannothig other business. In the absence of Mr. G.
Hudson, CERISTOPIIRE Baiunram., Esq., deputy chairman
to the cowpony, was ailed to the chair.
Mr. WRIGHT read the directors' report, which having
referred to the position of the docks at the last meeting of
the shareholders, congratulated them on the great pro-
wess of the undertakieg, and on the probability of
die docks being opened at the end of the year. The revert
next alluded to the efforts made by the direst= tie nue to
some definite arrangement with the York. ilmmarft, ad
Berwick Railway Company, motive to almost of coals
conveyed on their sev.ral branch and other Yens: &c., the di-
D'Etoll of tie no* Company stating that the time bad ar-
rived in whi:in unless some agreement wen sew to, the in-
termit* of the York, Newcastle, and Berwick Railway Cam-
paay must suffer considerably. In calling, therefor*, for an
extraordinary meeting of the Dock Company, the directors
intended to submit a negation, seeking to invest them with
authority to condole as arrangement with the Railway
Company, relative to these important subjects.
Mr. WRIGHT ant reed the engineer's report, which
entered into a brief detail of works completed, and those in
progress. After adverting to the e nof swain. drops,
Re., for the shipment of coals, the engineer expressed his
opinion that the dock miiiht be opened at the end of the
present year, although some of the mien works would still
remain unfinished. In compliance with huarantions, the
engineer had made his observations and soundings to ascer-
tain the cost for the construction of the southern cutlet, and
until this plan was completed, be would not pledge himself
to any defined scheme ; loathe thought that 60,0001. or 60,0001
would be required to finish the entire works in progress.
The CHAIRMAN, is moving the adoption of the above re-
ports, congratulated the shareholders on the state of forward-
ness of the undertaking in which they were all so deeply. in-
terested. He also referred to the advantages to be derived
from the opening. of the docks, not only to the port of Sunder-
land ht to the immediate district. When they considered
that that port exported 1,600,000 tons of coals, and employed
12,000 nese* *ere could be no doubt whatever that bat
the quantity Wands and vessels would return 6 per cent *-
tenet on the capital employed. The chairman *ea eon.
Boded by moving the adoption of the reports.
The CHAIRMAN then moved the re-election of those
directors whose term of case had expired, with thenception
of Richard Spoon, Req., who bad reaigosd, Robert Benefield,
Esq. being nominated to supply his place.
This having terminated the business of the General Meet-
ing, the meeting then resolved itself into an
EXTRAORDINARY GRNERAL RESTING.

Mr. BRAJd WELL, having been continued in the chair,
explained that it w is necessary to invest the board of direc-
tors with powers to enter into an arrangement with the
directors of the York, Newcastle, and Berwick Railway
Company, by which they shall give to the latter a fair and
fell benefit for their Maths and drops now along the river
side, on condition that they ship in the docks the coals
brought along their lines, and hitherto shipped in the river.
The directors desired to ntik* such an arrangement only as
would be fair and equitable to both parties, and, unless it
were made speedily, the dock works would be retarded.
Certain preliminary arrangements had been made, bat the
directors could not proceed without further powers.
Mr. WRIGHT, before reading the resolution about to be
submitted, would refer to certain resolutions respecting this
question, in the published report emanating from the com-
mittee of investigation of the York, Newcastle' and Berwick
Railway Company. He thought it proper to state that all
negotiations referred to in that report had taken place with
committees from the board of directors, who were authorised
oily to receive propositions for discussion. huh proposition
had been received. but the question had never been fully
entered into by the board. The ehareholders were conse-
quently not called upoa to confirm any definite agreement,
but simply to empower the directors to make an arrange-
ment such as would be desirable to the interest of the
company. Mr. Wright then read the following resolution,
which was proposed by the chairman
Tout, inasmuch as no arrangement has been entered fate
or sanctioned by the directors of this company with retie
yenta to all or any of the special matten authorised to be
considered and decided at tills extraordinary meeting, the
oirecton of this company, at a board meeting amembled, or
the major rut of tutu, shall have and are hereby invested
with lull power and authority at any time or times hereafter
to enter into any arrangement or arrangements they may
think advisable for the interests of this company with the York,
Newcastle, and Berwick Railway Company, or the directors
thereof, on behalt of such company, for or relating to the
shipment in the Sunderland dock, of all coal, cinders, coke,
and cults, or other articles or merchandise which, after the
sail dock is ready for the reception of ships or vessels, shall
be led, brought, or conveyed clown the Durham and Sunder-
land branch of the York, Newcastle, and Berwick Rail-
way, or the Muscled Pusher branch. or any other
railway belosging to the said York, Newcastle,
and Berwick Company, or for or rettieg to
the landing of timber or other articles from
any ship or Tugela for conveyance along the said railways,
and for the pur chase and removal by the said Sunder-
land Dock Company of the Malts, drops, timber erections,
machinery, or other materials now in use et the said Dor-
ham and Sunderland branch railway shipping places on cr
adj lining the river Wear at Sunderland aforesaid. And
miss m to or relating is the amount of the dues and charges
to be made for the shipment or unloading of said coals,
cinders, coke timber, tar other articles or merchandise
In the said dock, or in the ships or vessels entering the said
dock fur the purpose of loading or unloading the same, or in
anywise coanected therewith.
la reply to Mr. Jost Aznocx, the Commute stated that
no specific nun bad yet been proposed for the materials of
the Martha and drops.
Mr. CHARLTON observed that the railwa investigation
committee had repudiated the agreements made by the rail-
way directors.
air. WRIGHT replied that the committee had not done
so; they had aim. ly requested the directors to postpone con-
sideration of the qu-stum until th- board should be recon-
structed. The dirt tun of the railway had power to stake
else contemplated arrangement without going to their share.
holders; this the directors of the dock company could net
do, and hence testy required to be plaeed on an equal footing
with the former. limit were to be shipped at the dock, it
was necerary to erect staiths, and the time had now arrived
for determining on the matter. There was great reason to
believe that not only the railway company, but the investi-
gwion committee, would see the necessity, if they would
consult their own aterests, of snaking an arrangement such
as thee proposed.
Mr. JONASSOHN made some remarks to the effect that
the arrangement wo -Id be to the metered benefit of both par-
ties. The railway company had much of their us cur-
tailed for want of accommodation sufficient to ship all the
costs brought along their line. In the present position of the
company, he believed the completion of the Jarrow dock
would not take place till a distant Jay, and in that event
they would be campel!el to find additional room for ship..
ping coals elsewhere. It would therefore be their interest to
agree with this company.
The resolution was then agreed to.
Mr. WRIGHT next real the following resolution,
which also was moved by the Chairman.
That the directors of this company, at a board meeting
us/tub:id, or the major part of them, shall have and are
hereby invested with full power to make and enter into any
arrangements they moy decor expedient with Geo. Moduli,
Roh rt Davies, and Jar. Richardson, Esquires, for or relating
to the 2,34.5 shares of this company now standing in their
joint names. And also with any other persons respecting
any share er shares of this company now standing in their
names, and of which any call shall now be is arrears and un-
peet' and either for the purchase, forfeiture, or transfer of
such shaves or any of them to this company, or to any
tarts or trustees in trust for this company, and to release
or discharge unpaid and future cats on such shares or any
of them, or otherwise in the way of compromise or arrange-
ment respecting any such shares in any manner such di-
rectors shall, atter a consideration of the circumstances con-
nected therewith, deem advisable.
A long cliecurion, in the form of question and answer, en-
sued, the purport of the replies of the chairman to Mr.
Wright being as follows:—One or two of the directors had
not taken up their calls on the 'bares held by them indi-
vidually, and proceedings had bun instituted against them
simueaneonely with proceedings spinal ordinary share-
holders. Those directors had now accounted satisfactorily for
their calls, and, therefore, the resolution did not *rely to
them. Those respect to the 2,315 shares, standing in the
names of Means. Hudson, Richardson, and Davies, end
which, as all present were aware, had been taken on behalf
date York, Nowecstle, and Berwick Railway Company, by
Mr. Hudson, and upon which 41,0001. had been paid up, it
was expedient for the directors to be empowered to accept
the offer of a umprontise from those gentlemen,' by which
the directors shall take back, without refunding any part of
the money paid up, a proportion @Ellie said shares in full dis-
charge of all further liabilities on the part of the gentlemen
so transferring them—the shares so taken back to be vested
in trustees, and sold at a future period for the advantage of
the company. The directors were induced to ask power to
make this or any other arrangement that may be
desirable, and which does not involve repayment
of the money paid up ; filet, In order to pre-
vent litigation; and, second, to facilitate an arrange-
ment with regard to the shipment of coals at the dock. The
chairman further stated that Messrs. Hudson, Richardson.
and Davies would pay over, as part of the bargain, a sum
of money—he believed out f their own pockets—and enable
the company to borrow money on ite own debentures.
The motion was finally agreed to, u were also other two
resolutions arising formally out of it.
Another resolution, empowering the directors to borrow
60,0001. on mortgage or bond, at • rate of interest not ex-
ceeding 5 per cent., was next proposed by the Chairman, and
agreed to.
A vote of thanks was then given to Mr. Bramwell, for his
conduct in the chair, and the meeting broke up.

TRADE OF SINGAPORE.—Tho Cakulta Englishman
condenses from the local papers the substance of an algid
return of the number of vessels and the amount of tonnage
visiting that port in the official year 1848-49. The number of
arrivals is 674, and the teenage 235,313 ; showing an increase
0123 vessels, and 5,566 teas above the preceding year. The de-
partures are 646 ; tonnage, 220,749 ; &hewing a deans, if
10 vmels, and 2,269 tont. Including Mtlacca and Penang,
the whole number of arrivals is 827 ; of which 569 were
' British, 117 Dutch, 46 American, and the remainder of
various nations. The Dutch are apparently enionial ectagers,
since the 46 Americans cured them in avant el tomege.
The number of native vesicle arriving in the pass GSM year
is 2,061; tonnage, 61,693. The en—veseels,
2,609; tonnage, 71,960.