The Sun.
London, England, 1855-07-25 00:00:00

RAILWAY INTELLIGENCE.

GRAND TRUNK OE CANADA.

A general meeting of shareholders in this company was
held 37, sterday at the London Tavern; Mr. T. Baring, M.P.,
in the chair. _

The CHAIRMAN explained that the periodical meetings of
the company were appointed to be held in Canada, but, in
deference to the wishes of the shareholders in England, the
present meeting was held. The president of the company,
the Hon. Mr. Ross, and one of the directors, 111 r. Hincks,
were present, and would give any information in their power.
An earlier meeting of the shareholders would have been bn-
praoticable, and at the same time the directors were bound to
acknowledge the forbearance of the shareholders in waiting
for a meeting up to the present time.
The SECRETARY (Mr. Chapman) then read a report from
the London board of directors in respect to the progress of
the undertaking. it stated that 171. 10s. per share and 70
per cent. on the province and company's bonds, of the A
series, have been called up. The total amount which has been
received on this capital is 2,898,4271., of which 464,394/, is
in advance of future calls. The arrears are 71,2171., of which
22,2371. are on the last call. The amount yet to be received
on the A issue of capital is 683,9721. The next call of 21. 10s.
per share, and 10 per cent. on each class of bonds, will be
due and payable on the 12th October next. The certificates
for works in favour of the contractors for which the A capital
has been raised amounted to 2,888,2181., including the pay-
ment of interest to this date, which interest forms a deduc-
tion from the payments to the contractors as the works pro-
gress. The sum of 298,5001. not originally reckoned upon, but
which was found to be indispensably required for putting
the line from Montreal to Portland into effective working
condition, has likewise been expended. The progress and Exe-
cution of all the works have been in the highest degree satis-
factory, and the directors are assured that the sections of
the line from Quebec to St. Thomas (40 miles), and from
Montreal to Brockville (125 miles), will be delivered over to
the company for traffic in the ensuing autumn. The com-
munication between Brockville and Toronto (a distance of
210 miles) will be completed in the course of next year. The
section from Toronto to Stratford (82 miles) will be delivered
over to the company by the contractors before the expiration
of the present year. A connection will thus be effected be-
tween Stratford and Montreal, and between Montreal, Port-
land, and Quebec, a distance of 841 miles, with the excep-
tion only of the link of the Victoria-bridge. The Governor-
General of Canada was empowered by an act passed in
the late session of the Canadian Parliament to grant to
the company a further advance of province bonds to au
amount not exceeding 900,0 OZ. Under the powers of
this act bonds will be granted to that amount at the same
rate of interest as borne by those already issued, and
for a term of 20 years. By means of the aid thus
afforded the directors have been able to effect arrangements
for the common benefit of all concerned in the undertaking.
In the new arrangement entered into with Messrs. Peto,
Brassey, Betts, and Jackson, provision is first made for
payment of the balance due to the contractors in respect of
works certified up to the Ist of May, 1855 ; and, as no part
of the new province bonds is available for works executed
before that time, this payment is to be made in B shares and
B company's bonds—two-thirds in bonds and one-third in
shares. For the works to be actively prosecuted between St.
Thomas and Toronto, estimated at 1,600,0001., the contrac-
tors are to receive payment, one-half in cash, and the remain-
der in equal proportious of B company's bonds and B shares,
on which latter 121. 10s. is to be taken as paid, and out of the
cash payments is to be deducted the interest payable by the
contractors to the holders of beads and shares, according to
the provisions of the original contract. No call is to be made
on the B shares beyond the 121. Os., to be credited thereon,
until after the Ist of May, 1857. illould any extra works
be required, the contractors have agreed to accept payment
in bonds arid shares of the Atlantic and St. Lawrence Com-
pany, calculated at par in sterling, which bonds and shares
the company hold to the extent of 200,0001., which are re-
served as a provision for this purpose. The c)ntractors leave
to the disposal of the directors the province bonds of the B
series to which they are entitled under their original contract.
They consent to the suspens!on of the works from St. Thomas
to Trois Pistoles, and from Belleville to Peterborough, until
the first of September, 1556. The contractors also agree to a
modification of the contract for the Victoria-bridge. This
arrangement will enable the directors to consider whether it
is possible to adopt any more economical plan for its con-
s ruction. The present expenditure on that work is to be
limited to 60,0001., that being the amount estimated as re-
quired for fulfilling existing arrangements with sub-contrac-
tors. They undertake to proceed actively with the works
from Montreal to Toronto, and from Quebec to St. Thomas.
The directors submit the foregoing arrangement as fair and
equitable. The works actively prosecuted are those from
which the largest and earliest return is to be expected.
Those which are suspended are the portions likely to be least
remunerative. The total receipts from the traffic upon the
line already opened from Portland and Montreal amounted
for the half-year ending the 31st of Dec., 1853, to 54,6151. ;
ending the 30th of Jun:, 1854, to 72,831/, ; ending the 31st
of December, 1851, to 97,907/. ; and for the 25 weeks of the
half-year ending the 30th ult. to 82,9121., being au increase
over the corresponding period of last year of 13,3791., or 19
per cent. Various causes have combined to retard the de-
velopment of the traffic over the eastern lines, such as the
sudden paralysis of the timber trade, the commercial panic
which ensued, and the withdrawal during the last half-year
for the exigencies of the war of the steamers destined to ply
between Liverpool and Portland. The directors express their
unabated confidence in the undert iking, and that it will prove
amply remunerative when completed.
The CHAIRMAN moved the adoption of the report.
The Hon. J. Ross, the president of the company, seconded
themotion, and in doing so said there was not much to state
on the present occasion in addition to what they had heard,
but when the undertaking was completed throughout there
could be no doubt it would be remunerative.
In reply to questions it was stated that the Victoria-bridge
had already cost 200,0001., and that 60,0001. more would be
required before they could stop the works with a view to give
time to consider whether a cheaper mode of construction
could be adopted. Half-yearly reports would in future be
given to the shareholders, stating the progress of the works,
and so forth.

On the motion of the CHAIRMAN, the report was unanimously
adopted ; and the proceedings concluded with votes of thanks
to the Canadian and London directors, and also to the
Chairman. The meeting then separated.

PBUSSI i N DLSPATCII.

-

The Prussian, Monacar publishes the following de-
spatch, dated the sth, addressed by M. de Manteuffel
to Count Arnim, the Prussian ambassador at Vienna :
" Through the kindness of Count Esterhazy, we have re-
ceived a confidential communication of the project of a de-
claration on the subject of the Eastern Question, which Baron
Prokesch is to present to the Diet in the name of his Govern-
ment. The Cabinet of Vienna has also been so kind as to
communicate to us the circular dated June 28, by which
Count. Buol.announces to the German Governments the steps
which the Imperial Court of Austria intends to take. I
need scarcely assure your Excellency that these documents
have appeared most interesting to the Government of the
King, awl in the opinion which we have formed of
them, we are guided by the greatest federal amity to-
wards the Imperial Court of Austria, as well as by a
sincere desire to impre,s as much as possible the decla-
rations which the Diet may be called upon to make,
with a character of unanimity. In this respect, I above all
notice with satisfaction the declaration contained in the cir-
cular of the 2Sth, viz., that the Confederation cannot be
called upon to enter into new engagements, or to give exten-
sion to the existing ones. This is perfectly in accordance with
our view of the matter, as is unmistakeably proved by the
numerous documents which have latterly emanated from the
government of the King ; and consequently the only ques ion
which might be raised, is that of knowing whether, in gene
ral, a new declaration on the part of the Diet is necessary,
seeing that it is only to maintain its preceding resolutions. If,
on tais question, we were, only to consider our own situation,
we should be disposed to reply to it negatively, since Prussia
in her quality of European power will remain under any cir-
cumstances in that state of preparation for war which responds
to the resolution of the Diet of the Sth February, In the
meantime, although the hope of the re-establishment of peace
between the belligerent powers has not been yet realised, we,
nevertheless, think ourselves authorised to believe according
to declarations which have been made to us as to the turn
which events have lately taken, that the chance of Austria
taking an active participation in the war is removed, and
that the uneasiness which had arisen from that idea for Ger-
many is considerably diminished, and consequently the desire
expressed by our German co-federates to see the charges im-
posed on them appears justified. The best means of coining
to an understanding on this question will be to submit it to
the deliberation of the Committees to whom the Austrian
declaration will be referred, and the more so, as the
text of that declaration was not in the first place made kuowu
to the other German Governments, and a complete exami-
nation appears absolutely necessary, and certainly so in the
eyes of the Austrian Government. As far as what concerns the
Pruss an Government, its position as regards the treaty of De-
cember, and the negotiations connected with it are well
known. Prussia has not acceded to that treaty, notwith-
standing the invitations made to her, and a formal approba-
tion of the conclusion of that treaty, and of the conferences
connected with it, would place us in flagrant contradiction
with our past policy. We are convinced beforehand that-
such cannot be the intention of the Cabinet of Vienna. Such
an approbation would suppose a solidarity, which Prussia
considers as incompatible with her political convictions, as
well as with the solicitude she owes to her own interests and
to those of Germany, and she must consequently decline it
now as openly as she did at the moment of the conclusion of
the treaty of December. Such an approbation, moreover,
could not take place, unless Austria should, as formally, ap-
prove of the policy pursued by Prussia and by Germany. Such a
reciprocal approbation given after the faci s had occurred would
perhaps bring prominently to light and in a disastrous man-
ner the differences of the past, and we prefer leaving it to the
Imperial Cabinet to decide whether it would not be better
to renounce it on both sides in the interest of the wished-for
understanding. We are confirmed in this idea by the decla-
ration contained in the Austrian project of wishing to main-
tain irrevocably the bases of pease as admlted by Austria.
As far as it is meant by this to point out the maintenance,
under all circumstances, of the four points considered as a
whole, the resolution of the Diet of the 9th December, would
be exceeded. Such an obligation does not exist as far
as Germany is concerned. She has resolved only to ap-
propriate and to maintain the first two points. Since
Russia has declared that she will also consider them as
obligatory for her so long as Germany and Austria shall not
take part in the war, there is no reason to believe
them menaced by her. These two points, however, will
only possess real value by being executed, and in that respect
Prussia thinks right once again to reserve to herself, in her
name and in that of Germany, the participation which is due
-As regards the third point, it is relative on the one
hand-to the maintenance of the integrality of Turkey; on the
other to the diminution of Russian preponderance in the
Black Sea. In the first respect there scarcely exists a dif-
ference of opinion. Austria declares that she is determined
to continue to occupy the principalities to defend that integ-
rity. It belongs to the Cabinets of Vienna and Constanti-
nople to decide if this occupation be always necessary, or
how long it will be so, for the occupation of these princi-
palities has taken place in consequence of a treaty between
Austria and the Porte. Looking at affairs in a German
poipt of view, an attack from the Russians, which
appeared not impossible when the resolution of the
Diet 44-Dec. 9 was taken, is less to be apprehended at pre-
Sent ttian- ever. If, nevertheless, events again assumed a
German
lmore menacing character for the German territory, the reso-
nunnt
all to
insure
the
safe-beingGovernmnfentthse, thatcountry
in a
ni sexseoeesdtiii•logul;
amongst
short space of time the most energetic measures would be
taken, in conformity with the federal obligations relatiVe to
that safety. The King our Sovereign is also determined to
employ all his forces for that holy mission. The diminution
of Russian preponderance in the Black Sea is the point against
which the understanding between Aus • tria and the other
contracting parties of the treaty of December has failed,
and iihich has led to the close of the conferences. We
abstaiii froth every examination of the question of ascertain-
ing who led to that result, and we unhesitatingly approve of
the efforts made by Austria in favour of peace. But from the
time that these efforts have remained fruitless, from vie lame
that no doubt exists, that the Cabinets of Paris and London
no longer conceiVe themselves bound by the declarations made
to the Diet all the 1301390.40115 which 470 !ma dimmed
. .