The Sun.
London, England, 1852-09-22 00:00:00

Against the motion 636 votes ...... 6,144
Add as above ... 1,142

-..:...- 7,286

Gross majority in favour of the motion ... 1,716
The dissentient shareholders, although in a minority
in votes, hold the highest amount of the stock of the

CORK

LANCASTER AND PRESTON.
The annual general meeting of the shareholders of
the Lancaster and Preston Junction Railway was
held at Lancaster on Monday afternoon ; 'Mr. J.
Bushell, chairman of the board of directors, in the
chair. There was a very full attendance of pro-
prietors.
The report and statement of accounts, which have
already been published, having been taken as read,
The CHAIRMAN moved the adoption of the report.
Mr. Moons (a director) seconded the motion.
Mr. KAYE (of Bury) said he found the maintenance
of way on the Lancaster and Carlisle and the united
railways amounted to a serious sum of money. For
the half-year ending July 31st, 1851, it amounted to
8,008/. 143. 3d. ; for the half-year ending 31st of
January, 1852, to 7,4271. ; making' 15,4351. for one
year's maintenance of way for a distance of ninety
miles. In the half-year ending the 31st of July,
1852, there was a slight reduction, the cost being
6,9681. 35., 'Sr at the rate of 14,0001. a year. The
directors had now taken the management of the
maintenance of way into their own hands, but he
suggested that the better and .more economical plan
would be to get some respectable contractor to take it
for a certain number of years.
The CHAIRMAN said it was in accordance with a
very generally expressed wish on the part of the
shareholders that the directors had taken the mainte-
nance of way in their own bands.
Mr. GILLow (of Liverpool) asked if the majority
of railways did not undertake the maintenance of way
—the London and North-Western, East Lancashire,
Midland, and others ? He commented at some length
upon the constitution of the directory of the Lancas-
ter and Carlisle Company. At the last meeting of
that company he and his friends had proposed the
appointment of a gentleman as director in the place
of Mr. Marshall, M.P., but they had been outvoted
through the use of proxies procured by the board of
directors.
The CHAIRMAN said that he, as a director of the
Lancaster and Carlisle Company, had never heard of
proxies having been applied for until one was shown
him the day before the meeting.
After some discussion an this point, the motion
for the adoption of the report was unanimously
agreed to.
The CHAIRMAN then proposed " that the follow-
ing dividends, after the rate of 7i per cent., be de-
clared and paid :—Each whole share, 11. 15s. 7d. ;
three-quarter share, 11. 3s. 7d.; quarter share, 9s. 4d. ;
twelfth share, 3s. ld. ; less income-tax."
The motion was carried, and the directors (retiring
by rotation) having been re-appointed, a vote of thanks
was passed to the chairman, and the proceedings ter-
minated.

DUTCH RHENISH.
Yesterday a special meeting of shareholders was
held at the Cotton Sales Room, Liverpool, for the
purpose of taking into consideration the subjects
to be brought before the general meeting of pro-
prietors to be held at Amsterdam on the Ist of Oc-
tober next.
The report, of which the following is a summary,
had been circulated amongst the shareholders :
The report embraced a detail of the financial and
other measures which the direction considered most
eligible to ensure the execution of the works prepara-
tory to the opening in April, 1855. The way from
Arnheim to the frontiers having been approved by the
Minister of the Home Department, it was proposed
to proceed immediately with the expropriations of
land for the line. The disbursements required beyond
the expropriations, were—The laying of a new line,
narrow gauge, alongside the present one betweem Am-
sterdam and Utrecht, the removal of the latter to the
section between Utrecht and Arnheim; and the alteration
of the existing gauge on that section. The cost of
this could be defrayed by the contribution of the
1,000,0001 receivable from Government. 2. The
y from Arnheim to the frontiers. Mr. Joseph
Locke, M.P., bad estimated the cost of a single line at '
106,5001., or 1,278,0001 ; indeed, a tender had been
received from Mr. Brassey for this amount, and the
direction considered that 120,0001., or 1,440,0001,
would cover the whole cost. 3. The way from
Utrecht to Rotterdam. The designs would have to
be worked out afresh, but this would make no diffe-
rence in the estimated cost, which would amount,
according to Mr. Brassey's estimate, to 190,0001.,
exclusive of the cost of signals, turn-tables, stations,
&c. 4. The cost of materiel. This the directors
estimate at 1,800,000f1., or 150,000/., not including
coal waggons. The requirements for opening the
entire line will thus be as follows :
Expropriation of Prussian Exten- fl.
sion line and balance of Rotter-
••• •• ••• 960,000 80,000
dam line ..•
Prussian Extension line contract... 1,440,000 120 000
Rotterdam line di02,880,000 240,000
150,000
Materiel 1,800,000

Total ...fl 7,080,000 £590,000
Of the above, 1,200,000., or 100,0001., will be
im-
mediately required for expropriations, and for ratifi-
cation of contracts for delivery of materzel. The report
goes on further to say, that the sum of 4,800,000 A.
can be obtained from Government according to article
12 of the agreement entered into; and that only about
2,400,000f1. will remain to be found, of which sum
1,200,00011, or 100,000/., will be required for imme-
diate wants. It is recommended, that to obtain this
sum, recourse should be had to the 2,415 stamped
bonds in the loan of 9,000,000f1., in order to raise money
on their security for the construction of the works.
The direction did not intend to put those bonds again
into circulation ; but they are of opinion that the end
will be obtained, by depositing the bonds in the Bank
of the Netherlands, under trust of two members in
the direction, two Dutch, and two English commis-
saTies, to be appointed by ymir meeting, and by
suing certificates in their place, for the same amount
and at the same interest, at par, to be charged to con-
struction account till the opening of the way. Be-
sides this, there were 6,496 shares which had been
declared forfeited. The foregoing estimates had been
framed upon the most economical basis, but the
directors anticipate such an increase of traffic as
would warrant the laying of a double
line throughout, the cost of which was
estimated at 1,440,000 A., or 120,0001., and
would be increased to 3,000,000 ft., or about
250,0001., by the construction of a terminus at Rot-
terdam, a quay-wall at Amsterdam, &c. Negotiations
had been opened with the Cologne and Minden Rail-
way Company, which company was charged with
the construction of the line from Oberhausen to the
Dutch frontiers, in order to come to an understanding
on the different points requiring arrangement. The
directors requested to be empowered to conclude an
agreement as to the leasing of that part of the line
between Emenerich and the Dutch frontiers. The
rolling stock for the coal traffic would be provided at
the joint expense of the two companies.
Mr. CHARLES HOLLAND, the chairman, said the
meeting had been convened by the English commis_
series, with the full concurrence of the dircetion in
Holland, in order that the shareholders in England
might have an opportunity of conferring together
upon the very important and momentous questions
that arise in regard to the Dutch Rhenish Railway,
as they could not have that opportunity in Amster..
dam on the let proximo ; and he thought the share-
holders would agree with them that it was extremely
desirable they should have a full statement of the
present position of their concerns, and likewise that
they should come to resolutions as to what it was
expedient to do with regard to the future.
Although they were aware that the resolu-
tions this meeting might pass could not be
clothed with any legal official character, there still
could be no doubt, from the united purpose and perfect
harmony which existed between the shareholders in
England, and the directors in Holland, that that re-
sult would have due weight at head-quarters. And
he was happy to think that that harmony and united
purpose must have a due effect upon the public in
England and Holland, and would give a still greater