The Sun.
London, England, 1852-09-25 00:00:00

• RAILWAY INTELLIGENCE.

LONDON AND SOUTH-WESTERN—THE
WESTERN EXTENSIONS.
A special general meeting was held yesterday, at
Nine Elms, for the purpose of receiving a report from
the associated committee of directors and shareholders,
appointed at the special general meeting on the 17th of
August, as to the terms obtained from the promoters of
the Central Extension Line from Salisbury to Exeter,
and for deciding in reference thereto, as to the meeting
should seem fit. Mr. Chaplin, M.P., in the chair.
The SECRETARY read the following reports, one from
the associated committee of directors and shareholders,
and the other from the board of directors:—
"At a meeting of the directors of the London and
South-Western Railway Company and associated share-
holders, at the York-road offices, on Thursday, Sept. 16,
1852, under resolution of special general meeting of Au-
gust 17, 1852, Mr. Chaplin, M.P., in the chair,
" The minutes of the associated committee, at their
meeting on the 25th August, were read, approved, and
ordered to be signed by the chairman; and the following
report was agreed to, as that to be made by the associ-
ated committee to the special general meeting, called for
the 24th inst.

" Report of the associated committee of directors and
shareholders appointed under the resolution passed at
the special general meeting, on the proposal as to the
Western extensions of this line, held on the 17th of
August, 1852, viz.:—
" That this meeting is of opinion, that it is very
important to the interests of this company, and the
security of its property, that the original design of a new
extension line from Salisbury to Exeter should be car-
ried out without delay, if reasonable terms can be arrived
at with the landowners, who have offered to co-operate
with this company, for the purpose of making the line
in question.
" That this meeting accordingly resolves that the
question shall go back to the directors with the follow-
ing shareholders:—Mr. Beaver, Mr. Simpson, Mr. Ma-
lins, Mr. Hall, Mr. Ashmore, Mr. Tite, and Mr. Snell, to
consult upon, it and to report to a special general meet-
ing to be held in September, if other and less onerous
terms to this company than those referred to in the pre-
sent report can be arranged, and that a continuous com-
munication between Bridport and Axminster form part
of the subject to be discussed and reported upon by the
directors and forementioned shareholders.'

" The associated committee, in pursuance of this reso-
lution, put itself into communication with Mr. Locke,
M.P., as the representative of the landowners and other
parties who were prepared to co-operate with this com-
pany, by subscribing in equal portions with this com-
oily, 550,000/, being half the amount of 1,100,000/g the
estimated cost of the proposed central extension line
from Salisbury to Exeter. The committee has to re-
port—
" That the modifications of the terms set forth in the
directors' report to the special general meeting of the
17th of August, which the committee find will be
agreed to by the parties represented by Mr. Looke,
M.P., are
"1. That in paragraph 4, the words in reference to
the dividend of the portion of the capital subscribed by
the South-Western Company stand, That the South-
Western Company shall then take 4 per cent.;' and that
these
cent.' words are to be substituted for the words '3i per

premiumstu'
n'd2inT hliinae t
no case
cpaastashrefoaostgi
oeiroaewpsxhectese
forth
erl
toandpdienerde e the
n t., words, ' the
" The proposals as to terms of
.co.opera.tion will thus
of !hle.lT7thha nt lttii 0 8
csss:o_o the directors' report
one-half of the capitalath
parties, and the public to provide -Western Company shall provide
the landowners, local
the other half.
"2. The new line to be stocked
and worked by the
London and South-Western Railway
rate of 50 per cent. on the gross recepst
" 3. That after paying the waporikt
al
i receipts.
subscribed by the
Company,xpep
scrib„ u at
t theof
the gross takings of the line between balisbury and
Exeter, the independent shares shall receive preferentially
out of
the gross takings ot the line betw
Exeter, the independtnt shares shall recen Salisbury and
from the s amt
the
esource
portion 4 poet!
thecunt. c
,
fron3, the same
That
South-Western Company shall then take 4 per cent., and
the
~ 5
07 Trphl ue shallssout h - hy
South-Western
equallye ste
r a c
om divided.pany to have the power
to purchase the shares of the independent company a
any time after seven years from the opening of the line,t
at such a premium as regarding the traffic may be fair,
and as the proprietors of the South-Western Company
in general meeting assembled may agree to, in no case,
however, exceeding 10 per cent.
" These are the only modifications of the terms the
associated committee has been able to obtain.
" The approval or rejection of these terms will, accord-
ingly, now have to be determined by the proprietors to-
day in general meeting assembled.
" Signed by order of the committee of the members of
the board of directors and the shareholders associated
with the board, under resolution of the special general
meeting of the 17th August, 1852.
" WYNDHAM HARDING,
Secretary of the London and South-Western
Railway Company.

" Sept. 16, 1852."
" Note.—Proposals, as they appeared in the Directors'
Report of 9th August, 1852, presented to the Special
General Meeting, on the 17th August, 1852.
" 1. That the South-Western Company shall pro-
vide one-half of the capital (550,000), the landowners,
local parties, and the public to provide the other half.
" 2. The new line to be stocked and worked by the
London and South-Western Railway Company, at the
rate of 50 per cent, on the gross receipts.
" 3. That after paying working expenses oat of the
gross takings of the line between Salisbury and Exeter,
the independent shares shall receive preferentially from
the some source 4 per cent.
" 4. That the portion of the capital subscribed by
the South-Western Company shall then take 3i per cent.
from the same source, and the overplus shall be equally
divided.
" The South-Western Company to have the power
to purchase the shares of the independent company at
any time after seven years from the opening of the line,
at such a premium as, regarding the traffic, may be fair,
and as the proprietors of the South-Western Company,
in general meeting assembled, may agree to.
" The following is the report of the directors:—
" The board of directors, in submitting to the special
general meeting the joint report, which is the result of
the interviews which hare taken placeoodEpi fixi
nbet
ieedostnnuv
btie;oriennfr
terms
sblt
tihtehnhoreeefs
directors sad the shareholders associated with them,
under the minutes passed at the last meeting, on the
17th tilt., thinks it right to express briefly the opinion
of the board on the contents and subjects of that report,
suchinCentral the
independentm
as
proprietorst hose
set
cfdwraihor.meicccpnteosrraiasslt,iisobatnuhe
rowyfiettlhol eproposalwEaex:eb—toedTroy:f
oeotna;
report of the associated committee, !nay, with advan-
tageneoffotrhthe London
fiitnogt interestshhealf the
car:a:ha
and South-Western Railway Company, be proceeded
upon, special care being taken that,
the carrying
out the arrangements with " independent
subscribers body of
subscribers to the proposed new line every proper provi-
sion to protect the interests of the South-Western Com-
pany be inserted. The board h.s further to state that
since the last meeting, in
order to see if unnecessary ex-
penditure might not ho avoided in the district west of
Salisbury and D.,rchester, in which railway communica-
tion is at present, in some respects incomplete, and in
other respects altogether unprovided, an interview of a
chosen number (on either side) of the directors of the
two companies hat taken place on this point, so im-
portant to both companies. 'The result of this interview
was merely to establish that the directors of the Great
Western hail a Company did not consider themselves
in a position to arrest the progress of their works, which
will connect in a continuous hue, Weymouth (by way of
wie, London, which line is entitled
Yeovil and Frome),
the Wilts, Somerset, and Weymouth, or portions thereof.
inevitable effect of completing such a line will be to
The
deduct a large portion of the revenue of this line, now
obtained at the Salisbury and Dorchester stations,
the district and towns which will be served by the
fromyirius Somerset, and Weymouth line, if completed. The
d must therefore, either take on themselves
sharehol er.
h h*
onsibility o azar ing t is amount of revenue,
the tea authorise their directors to take the necessary
or DOW a
steps for carrying out the proposed central line.' "
The CHAIRMAN said he would simply observe to the
shareholder,' that they had heard in a very brief and
concise form the result of the deliberations of the com-
mittee, or what he would term the associated or mixed
association of shareholders and directors; and they had
also heard the reception which the board of directors
had given to that report, and their sentiments respect..
ing the document. The tendency of all their delibera-
tions was towards progress in the scheme that had bees
submitted for consideration. In that tendency he
heartily concurred; and for himself he felt the board
would on this occasion have the support of the
share-
holders in favour of the decision at which the committee
had arrived.—(Hear, hear, and No, e The share-
, re Earnittee
,iao share-
, holders were so well acquainted with all the details of
the question to be discussed, and the arguments
against the proposed measure—and he had
_ for and
liberty of addressing a circular to
them also
referentstaken the
to it—that be scarcely felt in
justified in repeating
tho facts connected with the subject.—(Hear,
hear.) He would just say he trusted that in
the discussion of this
important matter. gentlemen
would endeavour to avoid those which had
personalities
on previous occasions been indulged in.—(Erenr' hear.)
He made the remark, because in the protracted meetings
they had had respecting the question before them, some
rumours and doubts had been spread and expressed u
to the sentiments and motives of himself and his col-
leagues with respect to the support they had given to
the proposed extension from Salisbury to Exeter.—
(Hear, hear.) It had been said by some—indeed it had
been stated in the press—that his conduct in this unfor-
tunate affair had been influenced to some extent by his
position as representative of Salisbury.—(Hear, hear.)
Now, it was well known to the officers of the company
that his scheme bad been before the public since 1836—.
that was long before he bad the honour of being repre-
sentative of that city. He had become more warmly
connected with the scheme after a course of years,
though the shareholders bad, in that room, rejected a
further application to Parliament for powers to carry
their line forward. Since then, times and circum-
stances had become more favourable to the prosecution
of the measure; finances, he might add, had become
more favourable, and they found the scheme again
before them. Still hie position was precisely the same
at Salisbury, and it had not been altered one way or the
other in the least degree. And he must give the people
of Salisbury this tribute of praise—that they were, as a
body of men, far too highminded, and far too honour-
ahle—(lear, bear, and laughter)—to entertain the idea
of selling their birthright for a mess of pottage in the
shape of a railway.—(Hear and laughter.) He felt it
due to the people of :Salisbury and himself, to say this
much, for be begged to observe; that they never men.

ed the subject to him. When he found that the
ect was thrown over by the shareholders on 5
ier occasion, he felt the sacrifice would be very ,
'n the epmpaiy„ He
ss:iw tly? Viit would

) vita

rac ter

;mpeay,itiotder t 0 toliow taeb +.;estrict of ;
03- ,y which he saw Passing away from the South-
,tern CompanY; and when he told the meeting that
iee 20,0001. in the Great Western Company and
,000/. of paid-up capital in the South-Western Corn-
y, he was sure they would see how little desirous
!ould be to plunge the latter into vexatious contests
expensive warfare. He thought they would do him
justice to say, that he must wish for harmony with
r neighbours the Great Western and Bristol and
iter Companies.—(Bear, hear.) He should just
!tion that he had on two or three occasions had in-
iews with the chairman of the Bristol and Exeter
apany in reference to the joint interests of the two
oanies in the Crediton line, of the board of which he
• Chaplin) was a member representing South-
V' tern interests and he had said to that gentleman
t if he could—saving his own interests as chairman of
re 3ristol and Exeter—suggest at any time any desir-
n3o3o of bting,ing about a beneficial arrangement
no full streommodation and public reqnirem-nta of
wait of England district beyond Dorchester and Sa-
trYt Veat which would accommodate the public and
.riailv serve Bristol and Exeter, Great Western, and
'4l•:Western interests—that he (Mr. Chaplin) would
.'sppy to hoar from him. He had made the offer two
arse times, but had never been able to get from
any eaceuragetnent or hope. He bad also
tinned this matter, without prejudice to South-
' tern interests, to parties closely connected with the
at Western Company, but he had never seen, in the
no, it remote degree, anything to encourage him to feel
that they could arrive at a satisfactory adjustment of
tee question. Well, then, when he saw ea the one
heed the vast benefit that would accrue to the South-
Western Company from the completion of the proposed
line, and the great injury that would result from its non-
completion, he felt that they ought to lose no time—to
let slip no opportunity to step into the field and show
their determination to carry it out forthwith.—(dear,
hear.) And in sending round to them his circular, he
had, in order that they might give their calm consider-
ation to the question, and come prepared to give a de-
liberate vote upon it, touched on some data, and he
hoped that the data would convince them of the intrin-
sic merit of the scheme. He would say to them, that as
.erchents they ceu!d not confine their notions too pre-
ly to figures, when dealing with a matter of this
character.—(llear, hear.) In questions of this magni-
tude, they were not to ask whether the line to be
ccestructed would pay per se, they must regard
.thei
theasure proposed in reference to the gengraPh
natnre of the country, and also in reference to the trafficof
it would throw upon their main line, and the amount
protection it would afford to the propler,
hear.) He hoped the shareholders woudttl proposed
o._(Liear,
ok to the
general and protective policy from which
scheme had emanated, and that the wisdom of that po-
licy would be recognised by them, and influence their
decision on the occasion. He trusted that the company
would in this matter occupy a strong position, and he
believed this to be a most opportune moment to embark
in the undertaking. The project could now be promo-
ted under favourable circumstances, and he hoped that
the sharedolders would, by their firmness, which he be-
Hayed they would that day display, arriv
war. at a most
satisfactory conclusion either for peace or
Mr. HERAPATIL—Are the Board unanimous on this
sUhtjhece C
t?nAnmeN—No, I should say certainly not.
Mr. HERA.PATH—Are they mach divided ?
The CHAIRMAN sail the directors were not all in
Engiand, but he would venture to state most confidently
that nine out of thirteen were in favour of the extension
of the west of Salisbury.
A. PROPRIETOR—What were the numbers for and
against it in the associated committee of directors and
shareholders?—(Loud cries of " Hear, hear," followed
by shouts of " don't name," and " no, no," " yes, yes.")
The CHAIRMAN—I move that the report of the direc-
tors be read.

APROPRIETOR—I have heard that the report was
carried by a majority of one.—(dear, hear, and cries of
"Sit
down," and confusion.)
The CHAIRMAN—What report do you allude to?
A PROPRIETOR—The report of the associated, or, as
you have called it, mixed number of directors and share-
ht,lder9.
Another PROPRIETOR—You are in error. It was the
directors' report that was carried by a majority of one.
The CHAIRMAN—There was a majority, and it is not
customary to go into details in these matters.
Mr. UERAPATH—You have stated what the majority

hi the board of directors is; why not state the majority
in reference to the opinions of the joint committee of
directors and shareholders?—(Hear, hear.)
The CHAIRMAN—I have no objection to do so.—(Oh,
oh, and Hear, hear.) There are members of the com-
mittee present who can state the fact. The Chairman
here read two motions, one for the reception of the re-
ports of the committee of shareholders and directors, and
of the board of directors, and another for referring those
doeuments to the directors, who were to be authorised
to take such steps and make such arrangements consis-
tent with the terms of the reports, as to the board might
b:, deemed exprdlent to carry out the proposed scheme
railway extension in the 'vest of England.
Mr. HELPS protested against the two motions being
pet together, and was about to speak against the first
-.ors—vizrn to adopt two reports, whets he was met
by lend cries of sit down," and greet clamour.
Several attemnte were made to carry the motion with-
etet eliseussion, hot Mr. Help persisted in being heard,
nee. after much further interruption he obtained a
b-Ertcmg, and said his objection to the adoption of
the documents was, that in the report upon which
th 3 jo'int committee of shareholders and directors
His 7,c anted, it wes stated that if the antral scheme was
heehoved of, the directors would he prepared, at a special
go'aeral meeting io he held in September, to lay before I
Vee proprietors die arrangements under which the entire I
capital to be contributed by the company towards the
object could be most easily raised.—(Hear.) He wanted
to know how the cepital was to be raised.
Mr. Sergeant GAZELEE (one of the new members of
the hosed) said the ward would bo prepared to state all
thss after the motion for referring the question ;to them
was passed.—(Cries of " Hear, hoar," and " Oh, oh.")
i_eMr. HELPS thought the information should he given
Diore the question of referring the whole motion to the
directors was discussed.
Ther CHAIRMAN—I think that before you talk cf
e„
'ht.' tzar" leg the capital to carry out a project you should first
.to carry out the project itaelf.
R
OPRIETOR—No; let us know the cost first. It is
nasal before we works to decide upon carrying out expensive
settle, as
a preliminary step, their probable
coat.—(Hear, hear.)
Hero some further
confusion it
ensued,
and was slated
the` the first motion, •
had barn carried
that for the reception of the
two reports,
The motion for referring toe reports to the directors
wan now seconded.
117. MORTIXER (one of the new directors) thought it
right in justice to himself, and in duty to those
sateported him while he was a candidate for a seat at the
board, to tell them he dissented from the report under
tonsideration.—(llear, hear.)
dissented not only
from the report itself, but to almost every article in it.
(Hear, hear.) He dissented from the accuracy of the
fignres and statements made, and also from the policy
which moved the majority of the directors who had
brought the report before them.—(ls-ear.) As to the
toajority which they had heard were against the measure
—he alluded to the majority at the board of direction—
he thought the shareholders were, in consequence
of what had fallen from the Chairman, under
some misapprehension respecting it.--(Her, hear.)
The Chairmen had stated that, reckoning those
directors absent, there was a majority in favour of the
proposed scheme. Now, he (Mr. Mortimer) maintained
that this was not the way to state the case, inasmuch as
the directors attending the meetings of the board had
had laid before them information which the absent di-
rooters had not been put in possession of. There had been
two boards specially summoned to take this subject into
consideration, and make out their report. Every direc-
tor had been summoned, but at one meeting there were
eight present and at the other nine.—(Hear, hear.) At
the board meeting of eight the division was four and
four, and the chairman carried the question by his cast-
ing vote—that was by voting twice.—(Loud cries of
" Near, hear," and "Oh, oh.") At the board meeting
01 eine, the division was four and four, and the chairman
al sin carried the question by his single vote.—(Loud
of " Hear, hear.") He thought it objectionable to
into consideration the votes or opinions of the ab-
_ut
rectors, inasmuch as they had not heard the argu-
th7%3 on which tre Goand had come to their decision in
e matte
co,,ereb—Wear, hear.) The chairman had spoken of
/,‘„,,e3exe,zyteshhwing ics strength in carrying on the
Mortimer)
towel to the west of England, but he (Mr.
possible weabzeuht they were exhibiting the utmost
I. r lin
tha matter.—(Hear, hear.) Now
unfortunatelygo on
wittlxiatriiority of the shareholders should
nd their money 4 scheme, they must be prepared
fur they would have to enter
• 3.f_:tive hostility vlteillY,
two powerful companies—
.r, hear)—he alluded
Great Western COmpazi: the Bristol and Exeter and
an Act—supposing they get Lee expanses of obtaining
but. there were no 'le
—would probably be
agreed upon, Lrounda for telling the
shareholders that it would be
wouldlyhe shareholders
schemes.—(Hear.) have to defend
were to recollect that the company
itaelf against, rival
(r_ce expense
provided for, and if they had a
rc. bear.)
geug, war this was un•
must fall upon their own shoulders.—
Tly2y must also bear in mind that the t am.
(mired. to be raised for the proposed extension the
re-
west was 1,500,000/.—(Hear, hear.) The case
thee. were called on to guarantee out of the first T'''.73ingc4 of the South-Western lines 4 per cent. "el,
hear)—they were to find among
thcisiselves 530,0001. more for the line from Salisbury to
-taxottr- there
the , '
was a sum of 250,0001. to be found far
completion of the line from Basingstoke to Salisbury,
and yearly
(lice; 150,0001. for plant for working these lines.—_
01 liti,juneesa:.)aslow let them look at the matter as men
it were their own, and that they had
scion of the
'able circumstances—
proposed line under the most favour-
had obtained the Actgl• ear' hoer)—suppose that they
net the works had been corn ph ted
to compote with them for the traffic.
.n have, re, 'xpenditure of 1,500,000/,
90 miles running '
—in some places up and down hill for
broadwith a gradient of 1 in
t
, with he
would be guage. They might
W a sin le and he
he cer.ainly should 1— g
not like to work it
', and laughter.) Besides, this line
way from Basingstoke to Yeovil, be in
then with their own line from Basingstoke
'—(Hear, hear)—and as
it would be the
would, at equal fares per mile, be the

TIIE SUN,

cheaper route, and, therefore, take a large portion of
the traffic which the eumparl now hAA the benefit of
at one of thelz Dorchester.
,Stato,l-. c:r at Salisbury.
The completion of this .prOposed line would pro-
tween Exeter and London;

ttuofher through rou

1 to ran

Dmpetirg far,

, r,
suffer a further loss from the inerciaester line, or have to
reduce their fares. Bat it was right the proprietors
should know what the effect would be of a loss of traffic
upon the Dorchester line. He believed the proprietors
did not properly understand the working of the Dor-
chester line as well as those who had gone into the
details of the question. He had endeavoured to make
himself master of it, and would state the facts he had
ascertained. The Dorchester line was a single one of
60 miles extent, and he had taken some pains to see if
it could be worked more cheaply than it was at present.
He found that it could not, and that, if the traffic should
diminish, they could not work it with fewer trains or at
less cost. The gross earnings of the line were about
50,0001., and the working expenses about 25,0001. per
annum, so that at present the yearly net profit was say
25,0001.; but if the proposed central scheme and com-
petition robbed the Dorchester line of 10,000/. or 20,000/.
per annum, it was quite clear that to this extent the
stated advantages of the former line had been overrated.
Some gentlemen who were clever at figures had made
it appear in the report presented to the meeting
that the Dorchester line brought 35,0001. per
annum on the Southampton line, and that the central
line would bring 55,0001. per annum on to the line at
Salisbury. These were delusions. There was no doubt
that traffic to the amount of 35,000/. yearly came on the
line at Southampton from the Dorchester line; but he
would leave the shareholders to say how much of this
would come on the line at Southampton even if they had
no Dorchester line at all.—(Hear, hear.) they
would get more than half this 35,0001., if the Dorchester
A person living down line was not in existence.
Dorchester line paid, for exemple, his 23. to Salisbury,
and his 18s. or 205. to London. The 20s. was put down
as due to the Dorchester line; whereas, in the majority
of cases, persons so circumstanced would come on the
line at Southampton, whether they could get there by
rail or not. The same argument applied to the sum of
55,000/. per annum, which it was assumed would from
I the central line come upon their railway into Salisbury.
' They had heard that the directors had had an interview
with the Great Western board—(flear)—the object of
the interview was to arrive at some equitable arrange-
ment for preventing unnecessary expenditure of capital
and fur the interchange of traffic, in order to afford bet-
ter accommodation to the public, as well as to promote
the interests of the shareholders of the respective com-
panies. He stated to the Great Western directors what
the object of the board was. The meeting would see
Mr. Chaplin's letter stated that the Great Western
people were endeavouring to come down to Dorchester,
and were working on towards Salisbury. He (Mr.
Mortimer) urged these objections, and happening to sit
next to Mr. Russell, that gentleman tapped him oa the
shoulder, saying, " If you have no further fear than that
1 we are going to run in opposition to you to Salisbury, I
think you may be very quiet; for nothing on earth will
induce us to make the line from Warminster to Salis-
bury but a mandamas."—(Hear, hear.) It should be
observed, in reference to Mr. Chaplin's statement as to
the Great Western Company coming down to Salisbury,
that the latter company would, by their line, be 115
miles between London and Salisbury, whereas the South-
Western would be 80 miles only between the two points;
so that no sane man would think of going to Salisbury,
via Warminster, instead of by the way of Basingstoke
—(Hear, hear)—though he should like to impose on the
Great Western Company the obligation of completing
the line to Salisbury as a work required by the
country, and as beneficial to the South-Western pro-
prietors, as it would open the old road in the district.
He did not consider that they had any other grievance
to complain of to the Great Western directors, and
he at the time asked Mr. Harding (the South-Wes-
tern secretary) if there was any other, and he did not
say that there was. Reverting to this traffic of the
Dorchester line, he would say that he thought the
amount, in respect of the only places between which the
Great Western Company could compote with the booth-
Western Company, had been over estimated. The
amount of that traffic was 10,0001. per annum only.—
(Hear, hear.) His proposition to the Great Western
people was, that they should either work at equal fares
to points touched by both their lines, or that they should
divide the traffic; that, in fact, the two companies should
come to some understanding beneficial to themselves and
to the public. That was agreed to.—(Hear and
cheers.) The South-Western Company were to fix
their fares, and the Great Western directors were to
agree to them. At last they (the South-Western di-
rectors) were almost at a nonplus, for they could not
ask anything in reason that was not acceded to. He
then said to the Great Western directors that the coast
line from Dorchester to Exeter might be made by the
Great Western Company upon the broad gauge, in the
event of the South-Western shareholders throwing it
over ; and ho (Mr. Mortimer) observed that if
the Great Western had two lines to Exeter
(viz, one via Bristol, and the other via the Wilts,
Somerset, and Weymouth line and Dorchester) they
would be induced to tako passengers from Exeter to
Southampton by the way of Hangerford rather than by
Dorchester, thereby securing the largest amount of fares
to themselves, and giving the smallest amount to the
South-Western Company. The Great Western Direc-
tors admitted this would 4e unfair; but he (Sir. Morti-
mer) -aid he should wish a penalty imposed upon them
(the Greet Western Comany) if such a practice were
adopted, and to that. they also assented. Therefore hs
did not see what could he asked from the Great Western
directors that had not been asked, or that they could be
reasonably called upon to assent to anything to which
they bad not already assented.—(Hear. hear.) For him-
self, he confessed he was almost ashamed to ask anything
more. The next thing ho wished to bring before the
shareholders were the motives and reasons which the
directors gave for going into this scheme of competition.
Mr. Locke (the Member for Honiton) told theta at
the last meeting, two or three times, that the
landowners along the proposed line of railway
were being solicited on all sides by the Great
Western Company, and that if the South-Western
Company did not take it, the Great-Western Com-
pany would, and that that was the last time the line
would bo offered to them. Ho (Mr. Mortimer) knew
at the time that the statement was not correct; but he
thought he was in honour bound at the time not to
contradict the honourable gentleman; but the next day
Mr. Locke came to the board, and repeated the state-
ment; and he (Slr. Mortimer) then went to Paddington
to know if ho might make use of the information ho
had received from them (the Great Western). They
gave their consent, and ho would now lay the facts be-
fore them.—(Hear.) Mr. Locke had been before the
authorities of that company (the Great Western), not
once or twice, but repeatedly, and urged upon them
with all his eloquence the advantage which the proposed
central line would be to Great Western interests,
stating that it should be made on the broad gauge—
(Hear, hear)—bat Mr. Locke now told the South-
Western shareholders he was most anxious they should
have the refusal of the line.—(Hear, hear.) But the
Great Western authorities told him separately and col-
lectively that they would have nothing whatever to
do with the scheme—(Hear, hear)—that it would
be a competing line, and that they could not
entertain the proposition made to them.—(Hear, hear.)
Another set of landowners besides those who supported
Mr. Locke had applied to the Great Western directors,
whose co-operation they wanted in the promotion of a
line from Basingstoke to Southampton to compete for
the packet traffic, bat they refused to entertain the ques-
tion, saying that they had in 1845 entered into an
agreement with the South-Western Company for the
purpose of preventing useless competition, and that if
the South-Western broke it, the injury resulting would
rest on their heads. A further set of landowners had
been before the directors of the Great Western Company
—(bear, hear, and laughter)—headed by some of the
South-western shareholders themselves—(Hear, hear,
' theme")—the Rev. Mr. Blunt and others—and
shareholeetrt'' they
what fia„
company had already
wanted was a line from Basingstoke to Salis-
bur Y—thia, wanted to rob the South-Western
rich..-t-
-8 of the traffic of a line upon which the
expended 300,0001.—(Hear, hear.)
The shareholeees
they were tel chat received a pamphlet in which
the landowners were very power-
knew enough of Teals hear, and laughter.) He
fill and very
were always backward in
to say that they
ways, and at the sana n laying ont money in rail-
e time always .
their hands into the pockets of themost anxious to dip
shareholders.—(Hear,d
hear.) In these matters the shareholders
the losers, but the case was very
dives were generally
nears and contractors, for they Y
had
something rt with engi-
(Hear It to make
in these proceedings'--(
~.) was a
misfortune to
the shareholders that they did not into.
what
Ilear They they were
doing. at the last meeting.—(Neer.)
10.), et' appointed a
committee, some of whom held snares only, and who
were counsel—though of course unfeed counsel—en the
promoters of the central line, There
part of the was no
he had referred doubt that the pamphlet to which
the ema-
nated from the same party, and shareholders were
to bear in mind that there were many of the proprietors
locally situated who were so anxious the central nos
should be made, that they would, no doubt, strain every
main line was
nerve to obtain it, even though the . .
another dividend.
swamped thereby, and never paid . ,
was tne act
Another thing which he desired to notice
that those who, with ten shares, had been put upo fan
the committee, had been all along the course of the
proposed line—Sherborne, &c —canvassing for proxies
in favour of the scheme. In fact, the proxies had been
got together by contractors and Parliamentary agents.
(Hear.) Now, Mr. Chaplin had given his word to the
shareleAders that nothing should induce him to go into
the extension scheme unless it had the calm considera-
tion and support of the shareholders—(Bear, hear)—
but in spite of this pledge the parties interested in car-
rying out the central scheme had exercised the whole of
their local influence; they had been aided by engineers,
contractors, and Parliamentary agents, and they had
even canvassed the very bankers of the company fur
Proxies.—(Hear, hear, and cries of" Ohl") He did not
say the directors themselves had been doing this, but the
hing had been done; and instead of having the delibe-
rate,t unbiassed opinions of the shareholders that day
P" the
,am_c
,proposed measures, the meeting would he
in
stir!;olwt uh proxie3.—(llear and cheera.) The report
not made ofi which the proxies had been received was
the report out the time tney were sent in—at that time
thing was, iii was not before the shareholders—the whole
this and all oe.th a farce.—(Cheers.) It was a rule in
"cep; a shareholder, companies that no person,
retors, and for
w, should have a list of the pro-
paid;a but it so
pl nich list a certain sum had to be
received for happenedeuelea. that no money had been
holders had been Cauvasiist, and yet all the share-
a copy of the he
and to every one of them
forwarded, and he underaf:o had referred to had been
servants had had somethingat that ono of their own
he known that proxies
could
.o do in the matter. Had
be received he might have

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