The Sun.
London, England, 1855-06-07 00:00:00

BLYTH AND TYNE.

A special meeting of this company was held at New-
castle on Tuesday for the purpose of empowering the
directors to raise the share capital authorised by the
act of 1854 for making the Dairy-house and Morpeth
branches and the Tyaemouth and Longhurst extensions.
The chair was occupied by Mr. John Carr.
The CHAIRMAN said that the Parliamentary powers
were procured by the directors to make those extensions,
to prevent an opposition company from taking an im-
portant line of country from them. The directors be-
lieved they would be valuable adjuncts to the old
line, and they were satisfied that they would be of
great benefit to the company. He moved a resolution
authorising the directors to create 6,000 new extension.
shares, "of the value of 181. 6s. Bd. each, for the pur-
pose of making and completing the works authorised to
be constructed under the Blyth and Tyne Railway Con-
solidation and Extension Act of 1854 ; that such new
shares be issued to the proprietors in the proportion of
one for every 251. share ; and, in case any proprietor
should neglect to take his or her proportion of such new
shares on or before the first of August next, the directors
shall dispose of the same for the benefit of the company.
The deposit to be 1/. 6s. Bd. per share on the let c,f
August next, and calls of 21. per share to he paid in
October and January next. The new shares to be en-
titled to equal dividends with the old shares on the
amount paid up."
The resolution was. seconded by Mr. CRUDDOS.
The CHAIRMAN, in reply to Mr. H. Taylor, said that
doubling the line, and making additional shipping places
would be the first things attended to by the directors.
They proposed doubling the line to Seghill, and cutting
through Prospect-hill immediately.
The resolution was agreed to unanimously, and the
meeting separated.

EAST KENT AND SOUTH-EASTERN.
Mr. J. Whitehead, of the firm of Messrs. Carden and
Whitehead, has just made a proposition to the directors
and shareholders of the South-Eastern Company, urging
them to enable the East Kent Railway Company to ex-
tend their authorised line from Canterbury to Dover.
Mr. Whitehead states, on the part of the East Kent
Company, that they would be disposed to concede to the
South-Eastern Company the following terms :
"1. That a portion, to be agreed upon, of the East
Kent extension capital of 500,0001. shall be appropriated
to the Shareholders in the South-Eastern Company.
" 2. That the South-Eastern Railway Company shall
have a working lease of the East Kent line for a term
of years to be agreed upon, the South-Eastern Company
finding the necesary rolling stock.
" 3. That the South-Eastern Company shall pay as
rent for the same 46.335 th parts of the net profits which
may accrue on the total mileage, the remaining 289-
335th parts being retained by the South-Eastern Com-
pany ; the rent paid for the Reading and Reigate and
other leased lines being charged against the gross re-
ceipts, but not the intersst on the mortgnge debt of the
two companies, which is to be borne by the:ia respec-
tively."
He concludes by stating that be looks upon the question
now submitted as possessing greater moment than any
which has yet occurred affecting South-E istern interests.
A section of the directors of the latter company state,
in reply, that matters are not at present in such a state
as to enable them to enter effectually into the negotia-
tion proposed by Mr. Whitehead..
11, will be recollected that the directors of the South-
Eastern Company had expended during nine years, up
to 1854, the sum of 470,0001. in law and Parliamentary
expenses, being at the rate of 52,0001. a-year fer the
alleged purpose of defending the property of the company
in the district traversed by the company's railways. It
now appears to be the opinion of very influential partied
that great advantages would arise to the public service
from the construction of a second line to Dover.