The Sun.
London, England, 1852-10-26 00:00:00

fourth xbition

SUN OFFICE, Seven 0' Clock.

NEWMARKET RACES.
(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)
Selling Handicap. D.M.
Child of the Mist
Dividend
Handicap Plato. D.I.

Lerrywhent
2
Ilex

THE LONDON AND SOUTH-WESTERN
RAIL WAY.--(TIIIS DAY).
A special general meeting of the proprietors of the
London and South-Western Railway was held this day
at the London Tavern, Mr. Chaplin, M.P., Chairman of
the Board of Directors, in the chair.
The eel vertiscment e.onverting the meeting having been
read by Mr. Windham Harding, the Secretary,
The CHAIRMAN said he must confess that, in conse-
quence of certain temarits made by the press, as well as
by individual shareholders, he felt in a somewhat awk-
ward position, because it was the duty of the chairman
to observe a strict impartiality in presiding over such an
assemblage, but he could not belong to that section of the
directors who determined to lay the proposed proect
before the meeting, without having courage sufficient to
advocate ita propriety ; and he was, moreover, anxious to
make a few brief observations iu order that he might not
be accused of advocating a measure of which he did not
himself approve. (Hear.) They now met for the third
time, with the view of obtaining a clear and distinct ex-
pression of the opinion entertained by the great body
of shareholders on this important question, viz, whether
they should endeavour to secure that important district
of the West of England between Salisbury and Dorches-
ter, or passively relinquish it, and hazard its loss to them
for all time to come. (Hear.) The meeting had been
called in the centre of tne city of London, expressly for
the purpose of facilitating the attendance of shareholders,
for they would be surprised when he told them that, at
the last meeting on the 24th of September, there were
only 278 shareholders represented, including those per-
sonally present and those who appeared by proxy, out of
a body of nearly 40,000 proprietors. That, he thought,
would be a sufficient justification for the directors fixing
the meeting at that place, in order to gather a more full
and powerful expression of opinion. &est of the share-
holders were probably aware of the remarks contained
in a circular which he had taken the liberty of address-
ing to them. It was with great reluctance ho intruded
himself upon their notice in such a manner ; but when
he saw that a great misconception existed as to the nature
of the guarantee or preference dividend, he felt very
anxious to remove all doubt on the subject. But there
was another reason why he was so desirous to address
the meeting. He had seen an advertisement inviting the
shareholders to a meeting at Morley'a Hotel, with the
object of opposing the contemplated protect, and he
could well understand that an t ffort had been made to
concentrate the opposition of those who differed from
the directors. It would, however, astonish the share-
holders to learn that the secretary of that movement
was not a proprietor at the time the meeting was held
on the 13th of October, but that he subsequently got
transferred to him five preference shares, worth 401. of
paid-up capital. He, therefore, had not that interest in
the fluctuatiog dividend which would justify him in
taking such a position. (Hoar.) Ile (the Chairman)
believed he was also right in saying, that the most
respectable solicitor who took the chair at that meeting,
had no shares its the undertaking, and was not entitled
either to speak or vote at the meetings of the company.
(Hear.)
The GENTLEMAN intimated that he was not a solici-
tor, but a menatter of the Inner Temple.
The CHAIRMAN said he believed the gentleman in
,location was Mr. Snell, of Eaton-place. Adverting to
toe mere immediate purpose of the meeting, the Chair-
man then begged that the proprietors would calmly and
dispassionately c insider the question ; and not, as on
the 24th of September, waste three out of five hours in
the interchange of personalities and recriminations.
(Cheers.) It was likely that some remarks would be
made in reference to certain interviews with the secre-
tary of the Great Western Railway, and some expres-
sions made by him; but that had nothing whatever to do
with the subject now under discussion. (Hear.) They
should confiue themselves simply to considering whether
they should secure to the South-Western Company a
fair portion of the West of England trade. He hoped
that, first of all, the point of guarantee was clearly un-
derstood.
A SHAREHOLDER—What is the guarantee? Explain
(Hear, hear.)
The CHaIRMAN—He trusted the guarantee would be
understood as being solely dependent on the revenue
arising out of the West of Eoglandenterprize, name's, the
line between Salisbury and Exeter—and as being eon-
fined to the independent shareholders.
A SHAREHOLDER—The net revenue.
The CHAIRMAN—Yes, the net revenue, after paying
all working expenses. Much stress had been put on the
statement that the proposed hale had been concocted for
the benefit of the landowners in the district, but he
hoped any impression of that kind would be removed,
as it was inconsistent with the real facts. The land-
owners who ware not a numerous body, were willing to
make a sacriEee of their lend and to co-operate with the
S.tuth-Western Company, is order to promote the con•
strucdou of a line through a district which was left al-
together unaecommodated, and which, according to the
pltes proposed by other companies, was not likely to
be accommodated. The _railways projected by those
companies were not direct lines to L ,ndon, and left tha
district much in the same positionas it occupied already;
and it was, therefore, unfair to attribute imprope r
motives to those landowners and residents in the
locality wno co-operated with the South-Western.
It could not be denied that the line to Exeter would
bring a considerable addition of traffic, passing as it did
through ten towns, giving a direct communication with
London, and connec.ing the important towns of Salis-
bury, Portsmouth, Southampton, and Brighton with the
west. (Hear.) Of course, as a large expenditure would
have to no incurred by the South-Western Company, it
was not unreasonable to take in a partner cn moderate
terms, who should assist in making the extension to
Exeter. It was proposed, as he before said, that the in-
dependent portion of the capital should take the first
share of the new revenue up to 4 per cant, which was
the ordinary rate of interest. There was really no ground
for alarm at the risk attached to their part of the under-
taking. Then as to the quettion of aggression. Did
not the Great Western go round by Swindon to accom-
modate Cheltenham, Gloucester, and the other towns in
that locality, and had they not by so doing left the fifty
miles across to the southern coast altogether un-
provided fur ? The South-Western, adopting the
like principle, bad marked their coarse to Basingstoke,
their intention being to include Salisbury and that other
portion of country which remained open to them. Be.
ides, Parliament had already conceded the district to
the company, and all that remained to be done was to
get it into their possession. Having given the subject
some attention, he was convinced that the line would
pay a clear fi per cent,,which it was proposed to add
to tho joint concern from Salisbury to Exeter.hich was
he
took the revenue at 1,000/, per mile a year, w
not an extravagant calculation, the result would be that
a clear 81. would be added to the exchequer of the
company. Oa referring to the weekly returns of all the
railways in the kingdtm, he found that only five yielded
less than 20/, a week. The chairman concluded after
some further observations in regard to the defensive
policy pursued by the board.
Atter a slight interruption,
The CHAIRMAN moved a resolution sanctioning the
proposed scheme.
Mr. REID seconded the motion.
Mr. MORTIMER said it would be remembered that a
the last meeting he mentioned that Mr. Locke had been
to the Great Western Railway Company and offered the
proposed line to them, and that they had refused it.
Mr. Locke had since pronounced that statement to be
untrue, but he believed Mr. Locke was now ready to
admit that he had the authority for making his state-
ment. (Hear, hear.)
Mr. LocKE said that was so. Mr. Mortimer had the
authority of Mr. Saunders for making his statement,
but Mr. Saunders was in error when ho made the re-
presentation complained of.
Mr. HEREPATH wished to know if it really
the fiwas trld.
ue
had been ine
that the Great Western Company
Mr. Locxa repeated that it was, The Bristol and
Exeter Company, he was informed, were preparing their
plans for it. (Hear, hear.)
Mr. MeRTIMER then prececded to address the meeting
in opposition to the resolution, believing that in hurrying
alter this shadow of a line, they were going in a fair
way to lose the substance of their old line. (Hear, hear).
Tice
the line
of the old line was Southampton, and
line to Dorcester and Salisbury, were merely
oaken as -
tributaries and if the prepared line
were made it would benefit the branches, but not the
main lin e. (Hear, hear.) Now a. line f that nature
was not worth the expenseh of making it; and he warned
the shareholders thatif were wise they would con-
fine their attention tot accommodating(eiaya the overgrown
traffic of Southampton.
Great Western
Make this line,
and they would put the
Westernstern Company in a
South
portion to get at the
traffic; but if they ought to extend
d Southampton
their main line
at all they ought to turn their attention
the Dorchester line to Exeter. (Hear, laear to extending
bring traffic over the whole of their main line f'hat would
but if
adopted the Salisbury and Exeter scheme, it would l they
be
tantamount to introducin • a competing line to the South-
ampton line, as h Aw2e!n Southampton
and Basingstoke
(Hear, bear) Ho complained of the letter
. which the
Chairman had issued to the shareholders ; it was con-
trary to etiquette to
.issue such a letter. But, besides,
tho e letter cntaisied lneeehreciGs end he was afraid
that as ma' y proxies had been given on the strength of
the letter. I.le was very much afraid the letter would do
t4i'm a serious injury. (hair, hear.) It ltd the share-
hol kr to believe that this proposed new line would yield
6 per cent.; but that calculation was based upon erro-
neous data. (Hear, hear.) As the arrangement now
stood, the landowners would get 4 per cent , even if the
line did not pay its working expenses, and he could not
help feeling that the letter was Li most fallacious docu-
ment. It was the custom of the Board of Directors not
to record the protests of the minority on the board is
the journals of the Company, and as he was in a mino-
rity in this question at the Board ho had Ito other alter-
native but to protest against it now. (Sear, bear.) He
complained of the conduct of certain of the directors, in
lending their names to new iqlemes, and: called :open
the shareholders to diteettntenanee the precliee, Lecause

it brought them into unfriendly contact both with the •
Great Western, and the London and North Western
Companies, who had already remonstrated against it.
(Hear, hear).
M. r. REID, a director, contended that it was a false
policy for this company to stand still or withhold its
support from a scheme which, if carried out, would act
as feeding branches to their main line.
Mr. CASTLEMAIN wished to know from the Secretary
if any table had been prepared showing what would be
the effect of these new lines upon the Dorchester Line.
The SECRETARY replied in the affirmative.
Mr. CASTLEMAIN asked what was the result of that
calculation.
The SECRETARY said the present traffic from Dorches-
ter yielded 40,0001. a-year. When the Wilts, Somerset,
and Weymouth Line should be opened, it would abstract
20.0001. of that; while, if this proposed Central Line was
carried out, it would have the effect of drawing back
10,000/. of that 20,0001. (Hear, hear.)
Mr. CASTLE3IAIN argued that the Central Line would
" bark" the Dorchester Branch, which, he contended,
paid itself 3-} per cent., and brought the Main Line 4 per
o ,nt. ; and tie contended the soundest policy to pursue
was to have nothing to do with the proposed Salisbury
and Exeter Scheme. (Hear, hear.) He recommended
the Shareholders to see if they could not come to terms
with the Great Western Company for extending the
Dorchester Line on to Exeter, and concluded by moving
an amendment to the effect, and negativing in toto the
original resolution; resolving also, teat in case of
the Great Western Railway Company refusing to come
to terms, then that the Directors be authoriz d to carry
out the Coast Line on the narrow gauge. (Oh, oh.)
By the advice of Mr. HEREPATH, it was afterwards
agreed that the amendment should be subsequently pro-
posed as an original resolution.
Mr. WOOD opposed the original resolution.
Captain MoonsoNE, R.E., also opposed the original
resolution, but advocated the construction of the line from
Salisbury to Warminster.
After some further discussion, the resolution was pat
from the Chair, and declared to be carried. A poll was
demanded, and fixed for tomorrow.
Other resolutions, based upon the first, were disposed
of in a similar manner.
Thanks were then voted to the Chairman, and the
meeting broke up at a late hour.

[HE LONDON GAZETTE.

(THIS EVENING.)
PRINCE OF WALES'S COUNCIL CHAMBER.
Somerset-House, Oct. 26, 1852.

The Rev. Charles Leigh Pemberton, 8.A., Clerk, has
been presented to the rectory of Ca!stock, i❑ the county
of Cornwall, and diocese of Exeter, vacant by the de-
cease of the Rev. Edward llorshead, Clerk. Patron, his
Royal Highness the Prince of Wales.

•
Commissions by the Lord-Lieutenant of Radnorshire.
The Rev. James Richard Brown, Clerk, to be Deputy
Lieutenant; the Rev. David Rodney Murray, Clerk, to
be Deputy Lieutenant; the Rev. Oliver Ormerod, Clerk,
t ) be Deputy Lieutenant; John Vaughan, Esq., to be
Deputy Lieutenant, Oct. 18.
Commissions by the Lord-Lieutenant of Cambridgeirshe.
Cambridgeshire Militia.—Charles Smith, Esq., to be
Lieutenant-Colonel, Oct. 21.
Commissions by the Lord-Lieutenant of the County
Palatine of Lancaster.
William Gillibrand Unsworth, Esq. to be Deputy
Lieutenant, Oct 19.
2d Regiment of the Duke of Lancaster's Own Militia—
Archibald William Clarke, Gent., to be Ensign
Oct. 20. Frank Cavendish Ward, Gent. to be Ensign,
Oct. 21.
Commissions by the Lord-Lieutenant of Staffordshire.
The Honourable Orlando George Charles Bridgman,
commonly called Viscount Newport, to be Deputy
Lieutenant. Dated Oct. 22.
King's Own Regiment of Staffordshire Militia—John
Thomas Harland, Doctor of Medicine, to be Surgeon ;
Serjeant-Major Richard Mills to be Ensign, Oct. 22.
Commissions by the Lord-Lieutenant of Northampton-
shire.
Northamptonshire Militia—Lieutenant Elward Hat-
ton to be Captain, vice Davidson, who retires, retainirg
his rank; John Btencowe Robinson, Esq , to be Captain,
vice Duncomb, resigned ; William Laugh= Christie,
Esq., to be Captain ; Valentine Dudley Henry Carey
Elwes, Esq., late of the 12th Lancers, to be Lieutenant,
vice Hatton, promoted; Herbert Staples Smith, EN , to
be Lieutenant, vice Vage, who retires, retaining his pen-
sion ; Thomas Robert Andrew, Esq , to be Lieutenant ;
Robert Nicholas Newcomb, Esq., to be Lieutenant;
Isaac Edward Loved, Esq., to be Lieutenant; John Ty-
ron, Esq., to be Lieutenant; Thomas Donald, Esq., to be
Lieutenant; Richard Howes, Gent., to be Ensign, vice
Griffin, resigned; George Jackson, Gent., to be Ensign.
Oct. 25.
Commissions by the Lord-Lieutenant of Middlesex.
Royal East Middlesex Regiment of Militia—Henry
Joseph St. John, Esq , to be Captain, vice Reed, pro-
moted ; George threaten Kittoe, Gent., to be Ensign,
vice Bromhead, promoted, Oct. 22.
[The following Article is substituted for the one which
appeared in the Gazette of Tuesday, Oct. 19.]
Commission by the Lord-Lieutenant of Denbighshire.
Royal Denbighshire Rifle Regiment of Militia—
Robert Myddelton, Gent., to be Second Lieutenant, vice
Ward, promoted, Oct. 11.
Commissions by the Lord-Lieutenant of Warwickshire.
Warwickshire Militia—Charles John Riland Bedford,
Esq., late Ensign in the 55th Foot, to be Captain, vice
Lamb, resigned; Richard Bisse Riland Bedford, Gent.,
to be Lieutenant; Stafford Squire Baxter, Gent., to be
Lieutenent; James Taylor Beaumont, Gent., to be En-
sign; Jeha Payn, Gent., to be Ensign; Charles Adolphus
Muntz, Gent. to be Ensign, Oct. 19.
Warwickshire Yeomanry —John Thomas Ark wright
to be Cornet, vice Parker, promoted, Oct. 15.
Commissions by the Lord. Lieutenant of Flintshire,
Royal Flintehire Militia—The Honourable Richard
Themes Rowley, lee Lieutenant and Captain Scots'
Fusileer Guards, to be Major, vice Dundas, who retires;
Robert Wills, , to be Captain ; William Williams,
M.D., to be Surgeon, vice Griffiths, who retires.
Commissions by the Lord-Lieutenant of Northumber-
landshire.
Northumberland Regiment of Militia—George Bur-
rell, Esq., late a Lieutenant in Her Majesty's 45th Regi-
ment of Foot, to be Captain; James Crosby Anderson,
Gent. to be Lieutenant ; Francis Blake, -Gene to be
Ensign, Oct. 18; Edward Ty zeck, Gent., to be Lieute-
nant, Oct. 18.
Commission by her Majesty's Commisioners of Lieu-
tenancy for the City of London.
Royal London Regiment of Militia—Matthew Friend
Cosgreave, Gent., to be Lieutenant, vice James Deans,
retired. Oct. 4.
[The following Artic7e is substituted for the one which
appeared in the Gazette of Friday Oct. 22. j
Commissions by Her Majesty's Commissioners of
Lieutenancy for the City of London.
Royal London Regiment of Militia.—George Mac Call,
Eq., late Captain 84th Regiment, to be Major, vice
John Belches Home, deceased ; Ensign John Harrison
Allan to be Lieutenant, vice George Creasall, deceased,
Oct. 6.
[The following Article is substituted for the one which
appeared in the Gazette of Friday, Oct. 22.]
Commission by the Lord-Lieutenant of Moamouthehire
Royal Monmouth Militia—JamesPearse King, Gent..
to be Ensign, vice Ellis, resigned.
C inamissions by the Lord-Lieutenant of Gloucestershire
Royal South Gloucester Light Infantry Regiment of
Militia—Ensign Alexander Stansbury to be Lieutenant,
vice Lieutenant and Assistant-Surgeon Brooks, pro-
moted ; John Pitt Bontein, Gent. to be Lieutenant, vice
Thornton, resigned ; George Augustus Hepworth, Gent.
to be Ensign, vice Staubury, promoted, Oct. 23.
Commissions by the Lord. Lieutenant of Hertfordshire.
Hertfordshire Militia—Robert Algernon Smith Dor-
rieu to be Major, vice Major Edward ilampson, resigned;
Joseph Foskett to be Captain, vice Captain Joshua
Feemax, resigned, Oct. 22.
Commission by the Lord-Lieutenant of Ayrshire.
Ayrshire Regiment of Yeomanry Cavalry—Cornet
George James Campbell to be Lioutenaut, vice Sir
erThomas Montgomery Cuninghame, Bare, who retired;
Cornet Charles Vereker Hamilton Campbell to be Lieu-
tenant, vice the Hon. George Frederick Boyle, who re-
tires; William Alexander Paterson, Gent., to be Cornet,
vice George James Campbell, promoted, Aug. 20.

BANKRUP rs.
Charles John Ashton, merchant, Fenchurch-street.
Jesse Oldfield, licensed victualler, Fleet- street.
Charles Clarke, market gardener, Walhant-green
Fulham.
Christopher Greenfield, chemist, Brighton.
John Banks Nicklin, ironmonger, Wolverhampton.
William Henry Stafford, painter, Sheffield.
William James Perrin, merchant, Liverpool.
John King, mealman, Stonehouse, Gloucestershire.
Virilliam Briggs, hotel keeper, Filey, Yorkshire.