The Sun.
London, England, 1855-02-23 00:00:00

would not have much further money generally to 'spend
upon the line. With regard to the Yeovil branch, there
were still some liabilities, owing to the accounts not
having been sent in. Every exertion would be made
by the directors to bring those matters to a settlement
with the least possible delay. ile believed that a less
sum than the balance now remaining on capital account
would cover all expenditure. One subject intended to
have been proposed to this meeting was the case of the
Cornwall Railway, which was unavoidably postponed,
but it was for the interest of this company that that
railway should be completed. It was in immediate
connection with their system, and. must be to a cer-
tain extent a feeder to their line, and still. more to
the South Devon line, in which this company had so
very large a stake. The objects of the bill now before
Parliament were six in number :—First, to raise addi-
tional capital ; secondly, to enable them to purchase the
Sonerset Central Railway ' • thirdly, to cone= the
e• leasin arrangement they had entered into with the
North° Devon Company ; fourthly, to enable them to
hold additional preference shares in the Exeter arid Cre-
diton Company, to which they had subscribed 8,0001.,
and for which they received interest at 5 per cent. regu-
larly and punctually paid; fifthly, to enable them to pur-
chase lands at several stations along their line to pro-
vide increased accommodation ; and, sixthly, to extend
the time for the sale of superfluous lands, a point of great
importance, and of great advantage to the company to
effect. They bad powers at this moment to raise their
capital to 3,550,0001., and they had also subscribed
90,000/. to the Cornwall Company under the Cornwall
Act, and 5,0001. to the Plymouth and Great Western
Docks. The only addition to the capital proposed,
therefore, was 292,000/. It was thought more desir-
able to concentrate their capital ; the original capita),
it was proposed, should remain at the original amount
of 2,000,0001., and they proposed to raise a further
sum of 800,0001., in addition to the 1,200,0001., to
make their preference capital 2,000,0001. ; making
the whole amount of capital 4,000,0001. They must
expect there would be general suffering, and there
must be increased taxation and, probably, some stagna-
tion of traffic. Under these circumstances, perhaps, no
interest was more likely to suffer than tks railway inte-
rest. But as the spirit of the country would always
overcome the difficulties that occurred, so he need not
assure them that if any difficulty should arise with regard
to their own property it would only stimulate still more
the exertions of their directors. He begged to MOTs the
adoption of the report.
Mr. TUCKETT was at a loss to know en what grounds
the company was asked for an addition to the permanent
capital of 400,0001. The issuing of preference shares
would tend much to deteriorate the original shares.
The CHAIRMAN explained that the statement he made
was, that the capital already expended amounted to
3,535,0001. ; then there were liabilities on the construc-
tion account amounting to 50,000/. ' • and there were
large requirements for rolling stock and plant which, he
took it, w0.1.1.,..urii to about 100,0001. When they
were going to Parliament it was always as well to take
a large margin.
A PROPRIETOR—If you get it you will spend it ; that
is the long and short of it. (Laughter.)
Dr. GREEN concurred in that view. Somehow •r
other the money was always spent. There was the
Yeovil branch, whisk it was said would cost 100,0001.,
bad cost 180,0001., and there were still some liabilities
en it,
Mr. BRUCE, M.P., said there was one part of the re-
port he could not view with satisfaction. It laid down
the doctrine that the expenditure of repairing the per-
manent way might fairly be placed to the capital account.
Now, nothing was better understood in railway matters
than that the entire expenses of the line, whatever they
might be, should be defrayed entirely out of revenue.
(Cheers.)
Mr. BATES seconded the adoption of the report. If
the whole of their preference stock was got out it would
materially benefit their line.
The report was then received and adopted.
Mr. BRUCE, M.P., moved that the directors be de-
sired, in the future accounts of the company, to particu-
larise the expenditure and earnings upon each of the
branches, as distinguished from the main line.
The resolution having been seconded by Mr. Ram,
The CHAIRMAN said, this was the last company to
which such a proposition should be made.
The resolution was put and lost. A dividend was de-
clared at the rate of 2k per cent. for the half-year. The
retiring directors were re-elected, as was also the audi-
tor, Mr. Barnard.
The meeting was then made special for the purpose of
considering the provisions of " A bill to raise further
sums of money, to acquire additional lands, to lease or
purchase the Somerset Central and North Devon Rail-
ways, and to hold additional shares in the Exeter and.
Crediton Railway, and for other purposes."
A resolution approving the bill was carried.
A vote of thanks to the chairman and directors ter-
minated the proceedings.

CABINET COUNCIL.—A Cabinet Council was held at
the Foreign-office, Downing-street, yesterday afternoon.
It was attended by the whole of the Ministers, with the
exception of the Right Hon. W. E. Gladstone, Sir Jas.
Graham, and the Right Hon. Sieney Herbert. The
Council sat two hours and a quarter.
The Marquis of Exeter left his residence, in Gres-
senor-square, yesterday, for Burghley, where the Mar-
chioness 11,4 Lady Mary Cecil are staying. The noble
marquis dined with the Right Hon. B. Disraeli on
Wednesday.
The Countess of Wilton and Lady Catherine Grey
Egerton arrived in town on Tuesday, from Egerton
Lodge, Melton Mowbray, whither they contemplate nn
"toy return as soon as the frost breaks up. The Earl
of Wilt.)n Ims been is London for some days.
The Earl and Countess Craven entertained a select
party at dinner last evening at their mansion in Charles-
street. The noble earl and countess leave town in the
course c,f a few days for Ashdown-park, Berks.
ABOLITION OF .TUBNrIKE TOLLS.—Yestorday evening
a meeting of the inhabitants of the districts of Hamp-
stead, Kentish-town, and Camden-town was held at the
Elephant and Castle, St. Pancras-road, to take into con-
sideration the inconvenience and injurious effects of
turnpike tills on the locality, and to petition Parliament
for their abolition.

v
RNUISANCESERs. Ye REMOVALt er,
lay,ve
nli3nagr,.
als N
general
i ETI
meeting
oeetVi n MN g
01iu FAe
manu-
facturers and traders was held at the Bridge-house
Hotel, London-bridge' for the purpose of considering
the Nuisances Removal Bill, which has lately been in-
troduced to Parliament by Sir Benjamin Hall, the Pre-
sident of the Board of Health.
CLERGY ORPRLN CORPORATION.—The annual court of
the governors of this valuable institution was yesterday
held at the offices of the Society for the Propagation of
the Gospel, 79, Pall-mall.
The Earl of Lucan, late commander of cavalry in
the East, is daily expected in Loudon. The Countess
and Lady Lavinia Bingham aro staying at Laleham,
near Staines. _ _

Lord and Lady Ashburton arrived at Bath House
on Wednesday, from The Grange, near Alresferd, where
the family have passed the last eight months. After a
short residence in town, the noble lord and her ladyship
are likely to pass some weeks at Addiscombe.
Lady Stanley of Alderley, and the Hon. Misses
Stanley, who have been travelling in Italy for some
time past for the benefit of the health of ono of her
ladyship's younger sons, are now sojourning in the
" Eternal City," and are not expected to return to Eng-
land before April. Lord Stanley of Alderley is at-
tending to his official duties in London.
A. farewell banquet was given last night to Dr.
Sutherland, at the Thatched House, preparatory to his
departure for the East. Dr. Wairns, of St. George's
Hospital, presided, supported by several leading mem-
bers of the profession.
REMARKABLE CIRCUMSTANCE.—SinguIar as such an
announcement may appear, there may be seen in the
residence of the Rev. J. White, at Bruton, in this
county, two fine butterflies, which are lively and strong,
having hitherto eurvieed all the severities of winter.—
Bath Chronicle.
AMERICAN MAIL.—The Pacific steamer, appointed
to carry the mails of February 24th from Liverpool to
New York, not having arrived, though considerably
over due, there will be no mails despatched from Liver-
pool on the 24th to New York. Upon the arrival of
the Pacific the date of the departure of the next mails
from Liverpool will be arranged.
MAJOR Naeurrit.—We understand that a meeting of
the Lord Provost's committee is to be held to-day, for
the purpose of considering a proposal to confer the free-
dom of the city of Edinburgh upon Major Nasmyth, an
a recognition of his gallant defence of Silistria. Major
Nasmyth is a son of Mr. Nasmyth, Charlotte-square, and
has recently arrived in town.—Scotsman.
Loan JouN RUSSELL—A Vienna correspondent of
the Cologne Gazette writes on the 17th :—" Apartments
have been prepared in the hotel of the English Embassy
for Lord John Russel. It is expected that he will be
six days in Vienna."
MONTROSE 13 TEIGHS.—We understand that Sir John
Ogilvy, Bart., will offer himself as a candidate to repro•
sent these burghs.
PARTIAL DESTRUCTION OF CATANIA.—GENOA, Feb:
17.—The 'Vesuvius steamer, from Naples to Leghorn,
brought the intelligence that Catania has been nearly
destroyed, either by an earthquake er an eruption of the
I .Etna.
ARRIVAL OP THE PROMETHEUS.—PLYMOUTH, Feb. 22.
—The Prometheus arrived to-day from the coast of
Africa. She left Sierra Leone, Jan. 27. The Promo-
thous brings as passengers Mrs. Bidel, widow of the late
Bishop of Sierra Leone ; Capt. Rooker, 2d West Indio,
Regiment ; and Lieutenant Larnot, 3d West India
Regiment.
TRH NAVY CLUB.---Last evening the second meeting
for the season of this club took place at the Thatched
House Tavern ; Rear-Adnairal Charles Fremantle pre-
sided. About 20 officers sat down to dinner, Colonel
Dundas being- the chairman's visitor. There were pro-
sent—Vice-Admiral Deans Dundee, Admiral Sir Geo.
Lambert, Rear-Admiral Lord Adolphus Fitzclarenee,
Captain Lord Aurelius Beauclerk, Rear-Admiral Percy
Grace, Hon. Captain Best, Admiral Sir Samuel Pym,
Captain J. Hudson, Captain Tatham, Captain H. Aus-
ten, Admiral 11. Eden and Captain Milne (Lords of the
Admiralty), Captain MiDougall, Rear-Admiral W. Wal-
pole, Captain B. Seymour, Captain F. Campbell, and
oAnn.—lt is stated that the
Captain .1. Forbes. The usual loyal toasts were
posedpro-
honoured.
Beard has been formed, and
new
Tri E andN
Government
E dv
3.1 y A
Trra
no
that it is to consist of Captain Craigie, MIT., as super-
intendent at Southampton, Captain Wm. Drew, of the
merchant service, and a gentleman connected with the
army, whose name has not transpired. Captain Drew
has been for some years a member of the local Marine
Board of London and of Lloyd's Registry of Shipping,
and is said to have had great experience. In addition to
their other duties, the board are to have charge of prig
boners of war,