The Express.
London, England, 1850-03-13 00:00:00

RAILWAY MEETING.

READING, GUILDFORD, AND REIGATE.
Yesterday an extraordinary general meeting of the
shareholders of this company was held at the OS n, in Royal
Eschange-buildams, for the purpose of obtaining the sane-
tios of the consra to the terms of the proposed lees* of the
lute to the South Eastern Company.
Mr Alderman SALOMONS neck the chair, and aid, the
greatest difficulty he f and on that occasion was to make a
speech, for the advertisement had stated so foliy the various
subjects to be brought unier tb. it consideration as to render
comment unnecessary. The agrennent was now proposed
on the put of both companies, which he held in his hand, and
would then submit for the approbetion of the meeting, pre-
view to its adoption and confirmation at the general meeting
of the South Eastern C. :ninny on Thursday.
The SECRETARY read the report to the meeting,
merely detailing the sr/reenact'', which may be seen in the
follewir.g resolution on the subject, the effect of the whole
arrangement beton to secure a guaranteed dividend of 51 per
cent. on the 200,0001. now proposed lobe raised, in addition
to the 600.0001. already raised, for the construction of the
line. or di per cent. on 800,000/.
Ihe Rev. Mr. POCOCK and several other proprietor
expressed the regret they experienced in being obliged to
accept 51 per cent. instead of 51 per cent., as stipulated by
the South Eastern Company; whilst, on the other hand,
Mr. Alderman Carden, Mr. Marshall, and others recom-
mended agreeing to the compromise now made between the
directors of the two companies.
Mr. MACGREGOR expressed every desire to en the
lease cow prepared adopted by the meeting of South Eas•
tern shareholder*, for it would bee:mealy recommended by
himself and the other directors as just and equitable between
both companies.
The CHAIRMAN warned the shareholders cot to raise
objections to the proposed deed, as they might involve them-
selves in a snit in Chancery, for it was the opinion of him-
self and his co-directors that the report and the deed pro-
posed ought to be adopted unanimously.
Some further discussion toek place on the matter, when
the report was adopted unanimously.
It was then moved, " that the directors be autherieed and
empowered to pay out of capital, interest at the rate of
51. We. per cent. per annum on the paid up capital
of the company, not exceedlog 600,0001. from the 11th
of August last, to the data of the nue of thew line
to the South Egoism Company; that the directors be
authorised to pay over to the South Eastern Company any
balance of capital or money raised by kap which at the
date of the said leases may remain on the hands of the
directors, upon the South Eutern Company indemnifying
this company against all interest to the amount of 41. per
cent, per annum hereafter to become due in respect of the
present or any renewed bond debt of this company for
200,0001., so long as the same or au y part thereof shall re-
main undischarged ; and against all other liabilities of this
company, not including the principal of such bond debt or
any excess of interest above 4 ear cent. per annum ; that
this meeting agrees to authorise the brad of direoton to
call up from the shareholders the remainder of the entire
parliamentary capital of the cdfapany amounting to 200,0001.,
being 451. uprn each and every share in the undertaking, to
be applied In discharge of the bond debt of the company to
the like amount on the terms of the South Eastern Company
paying to this company interest upon the sum of 200,0000 L
arid when so called up and applied in discharge of such
bond debt, at the rate of 41 per cent. per annum in perpe-
tuity ; that this company does now agree to
consent to a bill in parliament, to be pro-
moted by and at the expense of the South Eastern Company,
within the space of two years from the date of the lease, and
when the same shall be so promoted for merging this com-
palsy In the Sosith•Eastern Company by exchanging the
shares in this company for perpetual debentures or preferen-
tial stook guaranteed in perpetuity interest at the rate of
51. 21. 6d. per cent. per annum, on the mutual understand-
ing, cindiuons, and agree meat, that by each bill no altera-
tion or change shall be proposed or consented to be made in
the now es:Latins rotes and tolls authorised by law
to be levied by the said two companies separately
in refennee to their respective lines of railway; that
this meeting do authorise the directive of the company to
affix the common seal of the company to the lease of their
line to the South Eastern Company now submitted; that
this meeting do authorize the directors of the company to
affix the common seal of the company to the deed of covenant
with the South Eastern Company new submitted, and in
the execution thereof that the directors be empowered to
deliver to the South Eastern Railway Company all the ma
aerials of whatever nature or kind, being on or la connex-
ion with the line or works, of the said Reeding, Guild-
ford, and negate Company, or in the comes of delivery to'