The Express.
London, England, 1868-08-29 00:00:00

MILL WALL FREEHOLD LAND AND DOCKS
COMPANY.

Yesterday the eighth ordinary half-yearly meeting of
this company was held at the City Terminus Hotel ; Mr. ATITON.
M.P., In the chair. The report won 'whinnied as usual.
The CHAIRMAN proposed tto adoption.
ii After referring to the
difficulties which the company encountered and surmounted
be congratulated the meeting on the opening of the ducks for
burliness' mentioning that Mr. Bin., the manager, was engaged
not on a high salary, but on an arrangement by which hiss risme.
aeration depended on the business done. The progrens of that
business so far had been istiefactory, ha regard to the com-
petition in the port of London, and ao well for the future.
The staff was completely organised for • largely increased busi-
ness, but at the same time moat economically. On the subject
of warehouses be was not sure that it would be advantageous
to erect such' extensive buildings as were found in the
other docks, but believed it would be sufficient to
provide such Waited warehouse room as would enable
them to house goods for • short time, and that it was
not their internee/ to keep thorn for a long time on their
premises. A. showing the growth of the business he mentioned
that therms receipts had Meressed from £960 in the week ending
4th July to £1,200 in the week ending let August, while the net
=lrhad increased from Elfff 14n. to £329 195., or more than
e. The claims against the contractors had been placed in
the hands of Nola:items unoonnected with either party, who would
act under the advice of counsel. As the public did
not seem disposed to contribute the necessary capital
on the only terms the company was empowered to more
its shares, the result was that an appeal must be
made to the shareholders to raise among them about
010,000 in each, which, with the other arrangements eoutem-
by the board would enable them to pay off outstanding
trill
ion, complete the works so far as was noonnary, and plane
the *vital account In a satisfactory poaition. They bad, in addi-
tion to the docks and wharfve for rough goods, • very consider-
able building frontage ; and though thin budding land
could not be made available at .once, it would ultimately form a
very valuable asset. But they were in receipt of an income
which was growing. He had hoped to have been able to lay
before them a plan for raising the necessary funds and closing the
capital account on the prevent occasion, but owing to so many
people being out of town, and consequently the difficulty of com-
municating with persons with whom it was desirable to commu-
nicate, the plan was not quite matured, and he there-
fore recommended that all dismissal-in on the subject
should he postponed. The clause introduced into the
Blarkwall Railway Bill last session would bring the docks
in direct connection with the railway system of the coun-
try, by a branch which would be constructed into the docks
within a twelvemonth, and would necessarily add much to the
value of the property and the stability of the undertaking. He
concluded by moving the adoption of the report.
Mr. Lae M.P., seconded the motion, which wan agreed to ;
and the mind compliment to the chairman and his colleagues con-
cluded the .ngo.