The Express.
London, England, 1853-10-04 00:00:00

SOUTH WESTERN RAILWAY.

Yesterday a meeting of some shareholders in this
company was held at Morley's Hotel, to consider what steps
should be taken in reference to the contemplated extension
to Exeter, and the formation of a double line from DJV
cheater. fhe meeting was composed out of the members
of a committee of shareholders formed in accordance with a
suggestion contained ins circular of Mr. Snell's, which de-
precated the proposed extension.
Mr. SNELL having takenthe chair explained the purpose
(or which the meeting had been called. The committee
which had been formed since the issue of his circular of the
31st of August consisted of eighty-six shareholders. The
chairman of the company in reply to that circular taunted
him with calling on the shareholders to break the pledge
which they had given at the meeting of the 19th of May with
respect to the extension of the line. The resolution which had
been:then come to was based on the statement which had
been laid before them, that the Dorchester and Southamp-
ton lino returned 31 per cent. Now, that was an incorrect
representation, and therefore the resolution, which was
baud upon it, ought not to be binding upon the share-
holders. So far from that line producing a return of 31
per cent., it was a positive loss. Ile was prepared to prove
that it did not produce 31 per cent., and he challenged con-
tradiction to that statement. He objected to the creation
of a preference stock at 4 per cent., which would reduce
the dividend of the original shareholders 2 per cent.
This preference stock might be a very good thing for large
capitalists, who had money to lend, but it would not do tor
the general body of shareholders. He understood that the
directors were prepared to raise money, whether at 2 or
10 per cent., and that they were to meet on Thursday for
the purpose of considering the means of raising
the money. It would be necessary for them,
therefore, to take speedy steps in order to lay
the views of the committee before them. He was
anxious that a pacific policy should be adopted towards
the Great Western Company. Ile had received several
letters commenting in severe terms on the conduct of the
directors. He, however, would recommend them to adopt
a temperate but firm course, and by pursuing such a course,
and by union amongst themselves, he had no doubt that
they would carry their point.
Mr. Swirls said that as it was of importance that they
should be accurate in their statements, he wished to know
if the statement as to the return of 31 per cent. was
for the last year only, or an average for the time the line
was opened.
The Cwalaitate said his statement was made in reference
to the year 1&52.
Mr. WRIGHT laid that in calculating the cost of the line,
they left out the law charges, the engineering, and other
expenses. He then moved a resolution deprecating the
contemplated extension in the present state of the money
market as mischievous.

Mr. H. Rags seconded the resolution, which passed.
Mr. SPENCER moved a resolution to the effect that the
attempt to press rival lines to the west beyond those of the
Great Western, besides reducing the dividend and depre-
ciating the value of the stock by the creation of preference
shares, would lead to hostile measures on the part of the
Great Western Company. If they had given a promise or
• pledge under false pretences they were not bound by it.
He did not think it was for the r interest to proceed with
this extension, as he hut good reason fur believing that the
Great Western Company were ready to enter into a com-
promise with them.
Mr. WILSON seconded the motion, which was carried.
Mr. Dnuce proposed the next resolution, calling on the
shareholders who Law the evil to warn others of the mis-
chievous consequences of the avowed policy of the
directors.

Mr. BANNISTER proposed, and Mr. STAFFORD seconded,
a resolution rccemmeading a pacific policy in treating with
the Great Western Company ; for the abstinence of all con-
flicting undertakings and consolidating a board of directors
would give effect to inch a policy.
The C nut ARAN then moved, and Mr. ROBINSON seconded,
a resolution declaring the present committee permanent,
and nominating an acting committee, who were to repre-
sent their views to the South Western directors.
The meeting then separated.

THE CHOLERA.

(Fnin the Board of Hea(tb.)
LONDON.

A second fatal case of cholera occurred on Friday
last in Vauxhall•sguare, Lambeth, an unwholesome
and neglected locality. Diarrhoea was present for
two or three days before the patient applied for me-
dical aid. Other inmates of the house have been
affected with bowel complaints.
A special meeting of the board of guardians of St.
Mary, Lambeth, is convened for to-morrow (Tues-
day).
It appears that eleven fatal cases have occurred
in Bermondsey, and choleraic diarrhma is repre-
sented to be extensively prevalent in Stepney. This
last affec- den is stated to have prevailed among
troops stationed at Portsmouth, which, however,
has been checked by prompt treatment.

NEWCASTLE-UPON-TYNE.

Cholera ...
Diarrhcea .