The Express.
London, England, 1850-12-04 00:00:00

BLACKWALL RAILWAY.
oprietors
go session, lot
ar.tthis
Yesterday,ratncoo azpio.kppfiicro.:ytthiawn:peenup:tioirhialp:pcul:dgyoeiaaonftitrofinent:iLheinieQd,etorebidßtiginargTak:Oieuprgd,
n, Bsshops-
Ratension
Railway to Tilbury Fort, opts site Gravesend, upon certain
terms to be submitted to the meeting. The chair was taken
by Mr. J. N Dentext.
The CHAIRMAN said that when he had the honour of
addressing • letter to the proprietors, he gave some outline of
the intended scheme which was about to be protected foe
their consideration that day. If it aheuld be the pleasure of
the meeting the secretary would now read the •erIER more
in detail upon which the application of the directors to the
proprietors was hued.
The SECRETARY read the pr pined agreement. The
heads of it were an unqualified gusrantee on the part of
Messrs. Peso and Brainy of G per cent., for 25 year., on
the total estimate of the proo'seel railway. The same tres
and teed: as existed in IMO from Gravesend to be guaranteed
to the Blackwell Company, Messrs Peto and Breese, from
time to time making good any difference; the same perdu
to bear all the expiate of an application to par:humeri ; and
if the same should not be obtained the and parties to sub-
'cribs 2,6001. towards the expellee.. The total post of the
line was estimated at about 250,001., or 10,0001..1 mile ; but
should,thst amount he exceeded, /Curt. Peto and 11-assey
were bound to supply the same.
The CHAIRMAN observed that the proprietors might
readily believe that to body of railway deriver-, a, , more
particularly the directors of the Blockwall Company, would
venture to propose in these d ye the coostrection of any new
hoe except under two circumstances; one of which would be
where they expected great advantages to theme/Ives; the
ether wenwitere byes dohs!" they could prevent other lines bee
ter:seiogtod am age the mess traffic of their oven rail way. Now
the Blackwell Rsilway Company in this ;wheeler stood in
both categories. They knew well that the Gravesend formed a
large element of the Blackwell traffic, and the obr.eet of this
agreement was to preserve that teethe to this composy. Three
or four years ago the traffic along the Blackwell Railway
exceeded one million pmseogere ; but the last accennte
showed them to be no more than 500,000. The North Kent
Railway du-ing the last year bad a very material effect on
the Gravesend possessors. Looking to these facts it would
be sun that something of this kind less necessary by the way
of seltprotection. (Tiede, hear.) The 'violate toe layistg
down this railway would he about Io,ovol a mit., the land
being of little rola,. It this railway shou.d be preferred it
was evident that, by a line so cheaply cone ructed, they
might anticipate, by low fares, the cirri:ego of all passengers
coming from Gravesend to London—at ..eeet their traffie
might be reckoned at twice as 12E6 VI at pretest. On one
aide they were ptotectinu thems4ris against the lots of their
present passenger :raffle, for the same amoutt they had re-
ceived in the last year would be guaranteed to them ,•
it more happened to be ri csived this company would
receive that also. (Hear, hoar.) Oa the other, they
had very great prosiness of improving their. owe railway.
He might, therefore, say that they were quite barmier'.
(Hear, bear.) Tte six per cent. guoranterd would be on
the whole amount of the money subscribed; end without
security to that effect, the directors would never hive un-
dertaken any new line whatev r. The chospnese of the
estimate induced the directors more particularly to support
the proposed line. In conclusion, the Chairman rowed
the following resolution That this actinic approta the
extensitm from the London and Blackwell Rodney to Til-
bury (with • hunch to Ilford), epee the terms and under
the guarantees proposed; and that Wed' teems be authorised
to raw the necessary capital by the Isom eif new shares, to
be appropriated exclusively to this work, end to take all re
quistie procetdiogE Inc accomplishing tile object, withfe
power to relinquish the Iltord breach If deemed to
ex nut"
Mr. SMITH proposed an amendment fur postponieg
meeting far a week, and in the meantime to hats the age.
meet printed for the use of the prni.rietors.
Mr. 11. DAVIS seconded the amendment.
Mr. ALCOCK, M.P. (a director). would give his restore
for differing with the board on this abject. First.
they were paying on 120,0011 debentures as interest of 6
per cent. ; in addition to this they muse spmd 70,0001.
more to bring the line to Hayion-equare. This would
account for a sum of 200,0001., on which he den say they
would not paytlesa than 5 per cent. (lib ar, hear.) Then
as to the new capital foe this railway (about 250,00011,
ho did not consider that could be raised at • lea
rate tun 5 oar cent., on which they would re-
ceive from the contractors 6 per cent.. leaving as pia ht only
a selitary one per cent. It wee his opini en that, instead
of Koine into new schemes, they should take every mune
of improving thee/ present traffic and of replying tee coo-
violence ot the public at their C.ty terminus. Let them
wait the result of events and thi a. he had ree-naraluded,end
before the end ot next year they would find their abates at
par. On the nth r hand. it they adopted tide Gravesend
scheme, Le arnicipa-ed the wont censtquences to this com-
pany. (Cheers.)
The CHAIRMAN was sorry Mr. Alocck had al eded to
the 70,0001., for that was to be found by the London and
North Western Company. Meer, hurl
The amendneeet having been withdrawn, the original
motion was put, when the tenting aplcered almost unapt.
moo in its favour, there bl'Aig only two or three heeds is
the negative.
After a vote of thank" to the Chairman and Director', the
meeting adjourned.
AMALGAMATION Ot"f HE GREAT NORTHERN,
HANGSBaCsit. •ND SHEFFIELD, AND LINCOLNEHIIIII
RAILWAY..—it is stated on goad authority that an amalga-
mation ot the Great Nerthet a, and Manchester, and Sheffield,
and Linooloshire Railways, hu been twanged by the re-
speed's bonds of direction, on the following terms, viz.:—
That for each Manchester, Sheffiel I, and Line 'leasers shore
of 1001, the proprietor thereof shall receive two Great
Northern shares of 251. each, and that the form. r compeny
shill reduce its guaranteed stocks :10112 6 per cent. to 51 per
cent. per annum, and ha placed in respect of preference on
a par 'titlarks Great Northeri Five per Cent. Preference
stuck. These to emu to lot submitted to the consideration of
the proprietors ot each company in special meeting usembled.