The Sun.
London, England, 1855-07-05 00:00:00

GREAT WESTERN OF CANADA.

A special meeting of the Erglish pri,prietors of this
company was convened by adverLiFernent at the London
Tavern, at noon yesterday; Mr. J. B. Smith, M.P., in
the chair.

The advertisement having been read by the Secretary
(Mr. Blackstone Bakes), and the usual pnliminarics
having been observed,
The CH AMMAN said the meeting had been called to-
gether for a twofold purpose—firstly, of consulting the
proprietors relative to raising 1,500,0001. of additional
capital ; and secondly, of eelpowering the Eng,lish
shareholders, who Ilea' seven-tenths of the whole
property of the undertaking, to vote by proxy
at the Canadian Beard, and also, at the acre time,
to afford the drrector s an opportunity of giving informa-
tion to the proprietors in regard to the position and
prospects of the comipany. Having alluded to the re-
port of a previous yi?ar with a view to show the money
which bad been requ ired to meet the expenses of the
line, the lease of the Toronto line and the construction
of new buildings, an d the manner in which that money
had been raised, the chairman went on to call the atten-
tion of the shareholders to two objects which the di-
rectors now had in contemplation ---- namely, the
doubling of the line I)etween Hamilton and London, and
the completion of th r) Sarnia branch. He then went on
to say that the sum raised by the present call would be
sufficient to meet all expenses for the present year ; but
if it should be decid ed upon to carry out the two objects
he bad mentioned additional money would be required.
Adverting to the traffic over the line he said that last
year's report had estimated the traffic from July last year
to July in the present t year at 7,000/. (currency)per week.
That was the case up to the 21st January last, during
which period the tralc averaged 7,4901. per week, but
since then the traffic; had increased to an average of
9,0001. per week. Whilst the ordinary traffic, as com-
pared with the last :rear, had increased fully 50 per cent.
the goods traffio haisl increased by 150 per cent., thus
showing that the grids traffic would continue to increase
if they maintained sufficient rolling stock for its
conveyance. Some difficulty bad been experienced
in this respect; but the want had been supplied and the
rolling stock was now adequate to the amount of traffic
over the line. Tina Chairman concluded, amidst ap-
plause, by calling upon the late vice-president of the
Canadian board (Mr. Lingston) to state to the meeting
the results of his personal inspection of the undertaking.
Mr. LINGSTON, accordingly, at some length, and wish
much detail, went into a statement of the actual working
and position of the line, which was in all respects highly
gratifying.
Some discussion, originated by Mr. Brookshank,
afterwards took place as to the propriety of the share-
holders having some control over the money confided
to the Canadian Board, and also of their being con-
sulted previous to any further call being made for the
purposes to which it was intended to be applied.
The CHAIRMAN said the proprietors might place impli-
cit confidence in the discretion and care of the Canadian
board, who were most anxious to have the co-operation
of the English proprietors in whatever they undertook ;
and also stated that the board would be willing to meet
the wishes of the proprietors in the respect pointed out.
A resolution approving of the course hitherto adopted
by the board was afterwards moved by Mr. Harris (of
Darlington), and was carried unanimously ; and after a
vote of thanks to Mr. Lingston and to the chairman,
The meeting broke up, the proceedings having occu-
pied upwards of two hours.