The Sun.
London, England, 1855-06-26 00:00:00

served,
The noble CHAIRMAN said he had really nothing to
say to the shareholders with regard to the object for
which they had been called together, as it was so well
known to them all. A circular bad been duly forwarded
to every shareholder explanatory of the objects of the
proposed undertaking, and the replies which had been
received were, with scarcely any exception, of an ap-
proving character. (Hear, hear.) He had but little
doubt, therefore, that these satisfactory feelings with
regard to the measure would be confirmed on that oc-
casion. (Hear, hear.)
Arr. FRESLIFIRLR, solicitor to the company, then read
over to the meeting the heads of the various clauses of
the bill, after which,
Mr. J. SADLEIR,I M.P., rose and said, it became
his duty to propose a resolution which was essential
under the provisions of the existing law, when a railway
company undertook the extension of its original
objects. He need not detain them in regard to the
objects of the Legislature in requiring a meeting of that
kind to be held, but they would be aware it was not one
of the ordinary meetings of the company. He need not
enter at any length into an explanation of the objects
they had in view, by the promotion of the measure
before them, because he was well assured that most of
those whom he bad the honour to address took a deep
and natural interest in the success of that important
undertaking, and deemed it, therefore, their duty to
make themselves masters of the more material facts and
details, connected with it ; but he might observe that the
steps taken by the directors since the last annual meeting
had been induced by circumstances which unexpectedly
*rose subsequent to that meeting. Since that time
almost every public man—he might almost say without
exception—connected ith the great interests of the
country—those, in faet, who were at the head of the
naval, military, and ordnance departments of the Go-
vernment, had become impressed with the extreme im-
portance of direct railway and telegraphic communication
between the metropolis and Dover. Animated by this
opinion, and acting under a deep sense of their official
responsibility the directors of the East Kent Railway
had made great efforts to obtain the sanction of
'Plc Legislature to the extension of their line
to that port during the present session. (Hear.)
Eneouraged also by the promises of the authorities he
had alluded to as well as he might say by the Prime
Minister, the directors thought it their duty to avail
themselves of the favourable opportunity which had now
sprung up for the completion of the original design of
I their undertaking—which was not merely the establish-
ment of railway communication between Strood and
Canterbury, belt its continuation thence to Dover. In
the first instance, however, they were constrained to
curtail the proportions of their original design from cir-
cemstances over which they had no control, and though
never abandoned it was postponed until a state of things
should supervene which should be more favourable to
the complete realisation of that idea. (Hear, hear.)
That state of things had now come about, and it was
very gratifying to the directors and all those interested
in the enterprise to observe that there was after all but
a very limited—indeed, he might say a very feeble—
amount of opposition to their efforts to extend their
communication with Dover. The great argument, it
would be recollected, which was formerly urged against
the utility of the East Kent line by its opponents, was
that it did not extend to Dover ; they always
dilated upon the fact that it was simply a
railway from Strood to Canterbury, and that because
it went no further that it was unworthy of support.
There was he was bound to confess something in that
objection as matters then stood—but he found now that
the directors found themselves in a position to extend
their communication with Dover as they from the first
cent emplated doing, these same opponents changed their
tactics and condemned the project as visionary and use-
less. (Hear.) Nay, more, they protested against the Go-
vernment entertaining any such views as thoee he had al-
luded to; and further, they said that a more unfit tribunal '
to determine what were the requirements of the country
in this respect could not be conceived. Those indivi-
duals were bold, indeed, to assert such opinions as these,
' and he could only account for theis entertaining them by
the fact that those persons were disappointed and irri-
tated at the gradual and progressive success of the E:ist
Kent Railway, in recovering from its difficulties, and
placing itself in a position to complete, in its integrity, the
original design of the undertaking. (Cheers.) He
deemed it quite unnecessary to expatiate upon the nu-
merous advantages which must accrue from the com-
pletion of the oommtuication with Dover; but he might
observe that, before taking any steps with a view to
accomplish this desirable end, the directors thought pro-
per to consult the feelings of the inhabitants of Dover in
the matter. They accordingly attended a large and in-
fluential meeting there, and he had the honour of ex-
plaining publicly the considerations which induced him
to think it was not only the duty of the directors to pro-
ceed with the bill, but that it was an object that de-
served the sympathy and support of the people of Dover.
The result of that meeting was eminew-,ly successful—
(hear, bear)—and he might add that he did not hesitate
to tell them, as he ventured now to repeat, that
whenever a co-operative body could combine with
advantage to their own interests anything which
was calculated to promote the welfare of the
country it was their duty to carry it out. (Cheers.)
Ile did not feel called upon to dwell upon the objections
that had been urged against the proposed scheme ; for
he was disposed to take broad views in such matters,
and to overlook such as were of a merely trivial nature,
But with regard to the opposition of the South-Eastern
Company, no doubt the directors would 'feel bound to
maintain it, not so much from a mare spirit of antago.
nism so much as a natural desire to increase their own
interest by endeavouring to retain in force a species of
monopoly, which, however advantageous it might be to
the shareholders, was obviously disadvantageous to the
public good. (Hear, hear.) Although he should be the
last person in the world to wish to crowd a particular
district with railway communication, he felt that the
scheme which the directors had in view was essential to
the prosperity of the district through which the proposed
line would pass, as well as calculated to be of immense
advantage to the country in general. ThAe were the
views which the directors as a body entertained ; and
they pledged themselves to avail themselves of every fair
means of accomplishing the desired object, provided they
were fortified by the confidence and support of the share-
holder,. The hon. gentleman then moved a resolution
embodying tho approval of the shareholders of the pro-
posed extension of the line, and the other objects of the
meeting.

Sir J. TTLDEN said he seconded the resolution with
peculiar pleasure, because he had been for many years
an advocate, in common with many he saw around him,
for the extension of the line to Dover, in accordance
with the original object of the undertaking. To look at
the proposed scheme in a merely pecuniary point of
view was to regard it in a minor sense compared with
the advantage which would accrue from.. it in a national
sense. The inhabitants of Dover seemed to be fully alive
to its importance, for they not only cordially approved
of it, but signified their approval in an unmistakeable
and tangible manlier, by coining forward with their
purses to aid the project. (Hear, hear.) Supported
as they were in this manner, and also by the Prime
Minister himself, and other official authorities, the di-
rectors, in going to Parliament to obtain this bill, only
required the sanction and approval of the shareholders
to prosecute the undertaking with perfect confidence in
their success. (Hear, hear.) He sincerely hoped,
therefore, that by the next annual meeting, he should
have to congratulate them upon the passing of the necessary
Acts of Parliament, and upon having sufficient capital
to commence the new line. (Cheers.)
Mr. HILTON, as a large shareholder in the company,
having said a few words in cordial support of the pro-
posed scheme,
Alderman SALOMON, sair: he differed entirely from a
great deal he had heard that day. So far as the line
from Strood to Canterbury was concerned it was
wanted, inasmuch as it filled up a gap in the country ;
and so for from not having, as had been stated
by some persons, a terminus, it opened up a corn-
municetion with the centre of the county of Kent,
and was thereby productive of the most important
advantages. As to the extension to Dover he admitted
its desirability in a national point of view, but in a coun-
try like this the Government ought to come forward and
lend its assistance to the undertaking if it was intended
to bring about any national benefit. (Hear, hear,
hear.) Instead of this, however, he found it was
proposed to mortgage the existing line—or, in other
words, to grant preference shares for the construction
of the Dover Extension. Now, he did not think this
was at all fair. It had been said that the people
of Dover had come forward with their money ;
but there was nothing to thank them for, because
until the extension would pay the competition
of the South-Eastern Company must be overcome, and
then, before the shareholders could receive a farthing,
the profits, if any, would be swallowed up by the pre-
ferenee shares granted to the Extension proprietors.
At the same time he was an advocate for the contract for
the construction of the line being thrown open to public
competition and executed at the cheapest rate, and un-
less the directors would guarantee this he must, though
he should do so with regret, give his unqualified apposi-
tion to the scheme. He had attended there simply to ex-
press his opinion as being unfavourable to the extension
for the reasons he had stated, and having done so, ho
sincerely trusted that nothing might occur which would
induce him to Move an amendment.

In the course of a long discussion which ensued, Mr.
FRESIIFIELD pointed out that although the new
bill created a preference, at the same time the existing
law of the country prevented that being in any wa:
prejudicial to existing preferences ; and the chairman
explained that at present no contract for the line had
been made, but the directors whilst entering into no