The Sun.
London, England, 1852-02-25 00:00:00

S .
7

,
tshaemeßoilridlilll"be
I ductiott into the !louse of
I oppose&on the tiund of non-compliance with the stand-
ing Commons has been strongly
orders; hut' 'year directors entertain, they trust, a
fwuel
1131,- gpraostio,ndti etdhrhooupegh that
the
pro-
ceed in,cemmon with ,many others which haVe success-
The report of the committee of shareholders. generally
approved of the pokey of the d' allowed to
'rectors.
It was stated to the proprietors that the directors bad
'three courses open to them—viz into an al-
liance with the narrow-gauge ' interest—in other
vewords,
with the London and North-stern Company; another,
an alliance with the Great Western Company; and the
third, which the directors thought the most advantage-
ous, to make the line a perfectly independent one.' With
had
this impression the directors decided upon applying
to-Parliament for an Act to authorise the construction of
Brantford. an extension from Oxford to The necessity
of•the measure was grounded on the allegation that, ter-
minating. as the Oxford, Worcester, and Wolverhampton
line does at,Oxford, thP company would always, unless
they had a guarantee, be at the
mercy of the company
n
over whose line they should ru
between Oxford and
Dindon; that a guarantee bad refused by the
Great Western Company, who had always, always, as it - was
stated; had an' eye to their own interests, Which,
with their possession of the Birmi ham and .Oxford
line, is, and perhlips 'must be, adverse a:3
frd
or-
ceiter, and WolveritaMpte.n interests: ando xtola ' •
of the Great Western executive was declared
to
animus
gla-
ringly exhibited in' the recent applicatit°'Vice-
Chancellor to restrain the former company
from o the
ing any portion of their (the Oxfor, W
Worcester,
esteexrpeenedd
Wolverhampton Company's) funds in promoting the
Oxford and Brentford scheme. It was cotended by' e-
*eral of the directors- and by shareholders 't: ''s
...., at Le meeting
yeeterday, that, bptas-t,te preamble ofthe Oxford -
and
Brentford Bill, ind the Clause relating to the raising of
the capital, clearly pointed out that the cost of the ap-
plication to Parliament, as well as that of the construc-
tion of the proposed extension, was to fall upon the new
capital to be created, and which would form a capital
distinct from the capital that has been expended, and
that has to be expended, upon the Oxford, Worcester,
and Wolverhampton line proper.
. That the Great
Western executive, in going to tne Court of Chancery,
had sought the aid of the law to prevent the Oxford,
Worcester, and Wolverhampton board from doing that
which they had never intended to do, and which, in fact,
the law would not allow them'to do; and the act of the
Great Western executive in this instance was not only
stated to be one that had occasioned an unnecessary
outlay of money, but it was characterised as a glaring
assumption that the decision of the v
• jee-Chancellor
could stay the legislature from declaring and enacting
that the proposed Oxford and Brentford scheme should
be a public benefit. The directors said that the case on
which they rested the success of the scheme was the ab-
solute necessity of the construction of the extension for
the salvation of the company, and the fact that the dis-
trict through which it would pass is destitute of railway
accommodation.
It was emphatically stated that the extension line
would be a remunerative one. The estimated cost was
870,0001.—c0t an engineer's estimate merely, but the
athount for which some of the most responsible contrac-
tors in the country had offered to complete it. Of this
amount 636,4001. had been subscribed, and the necessary
parlianientary deposit (63,6400 had been made. With
respect to the paying character of the extension line, it
was urged that, by its construction, the traffic of the Ox-
ford, Worcester, and Wolverhampton line would
.resemble that of the Brighton Railway. The
entire outlay for the completion of
the
whole railway would be 4,000,000/. ; for • this
expenditure they would have 150 miles of railway from
Wolverhampton to London; a line " looking down" upon
Cheltenham, with which place it would no doubt—if the
Oxford and Brentford extension were made—be con-
nected in two or three years, with on approach to Bir-
mingham, and carrying heavy traffic between South
Staffordshire to the metropolis. The salt from Droit-
wlcb, the fire-bricks from Stowbridge, &c., would be
through• traffic; and one of the speakers predicted that
with an independent line into London, and such a ter-
minus as that of the South-Western Railway at Water-
loo-bridge, the line—looking at its cost—would be one
of the most remunerative in the kingdom. The expen-
sive portion of the old line, vise from Tipton to Wol-
verhampton, about 50,000/. per mile, was justified on
the ground that it is the key to the Oxford, Worcester,
and Wolverhampton traffic, and if the company did not
construct it, the Great Western Company undoubtedly
would.
Upon the question of the sufficiency of the capital of
the company for the completion .of the Oxford, Wor-
cester, and Wolverhampton line proper, it was stated
that the company had powers to raise 1,025,0001, an
amount equal to the completion—exclusive of plant—of
the entire works on the whole main line.
Mr. Pete, M.P. (the eminent contractor), in answer to
a question from the board, said he was quite ready to
give the best possible security for the completion of the
-line. at the estimated cos-,.:
During the discussion it was stated that the directors
had resolved not to listen- to any overtures from the
Great Western Company, . and that it was determined,
if possible, to secure an independent line; and that the
directors were likewise resolved, if the Shrewsbury and
Birmingham alliance with the Great Western Company
were sanctioned-by' Parliament, to ask the Legislature
for, their', (the-Oxford;:Worcest r' and WolVerhaMptOn
ConfpanY"sy fair 'shire of ' e'' Liverpool •- ' Isl th' '
the and Or erla
traffie.' • • ~ - :
The-report of the directors and ' share •
that of the :.. ..
holders' -committee were received andadopted;' the re=
tiring directors were te-elected, -It
au-
ditor, and the-meeting unanimously approved of the
Bill for the proposed extension Oxford to
. sloe line from.
Brentford, and of raisin
• • - • . raising the capital in the Inoue pro-
poied by it.

half-yearly
was held yesterday at the Lye
LONDON' AND BLACKWALL.
the chairman of the board
The ordinary meeting of this, company.
been read, and the usual, was a very full 'attendaane of irectors, presiding. There
The advertisement conveningProprietors.
rectors had had the pleasureas
alder), Tavern—Blr. Daniell,
the meeting having
• A preliminaries
served. l. having been ob-
served.
PHAIRMAN sAist. .4 ~,,
pro-
prietors such a statement of the of laying before the
of their affairs as they had °l° position and prospects
was not only on account „f on that occasion; and this
divi-
dead, though this
between themselves and the
was :a.. the increase in their rnaDY years since the di-
rectors
of the arrangements which
but especially on
as well as the Eastern Counties and North-Western
these results, he believed, would
Railway Companies; and
London - --ch had been concluded
leheengine for the
if they had not been au
different stages of reform and ame
ndment
the proprietary in the
had gone through in amendment which they
ppeitr not have been attained
peepaie-
modation of largo traffic he economical working Of
it. Had it not been for the
naction at and their line for the liccom.
gouge of ihositeccessive measures of the
ine—of the substitution of
Bow,
stationary—of the comple-
tionfut:i which latter was only the
filiure they then were, nor
tablileev initiative
erl°aohetf ie:emtnnh°O:tfirtnjv' a veryrho
position i
which p traffic, they would not
traffic be so promising;
nwooruldditdh ebper obsepleiecvtse of
th 0 .
rear
was - very dlstont. Indeed realization of those prospects
opinion that before they met uptlle. - directors were of
actual!ecleed upon the profits of
half-year they would be ee.i03,7441 at the close of another
their improved condition. He 7g the' tangible benefits of
their new arrangements as
:it was not to be supposed that ,Y -.within reach. For
Western Company or the--ern
e London and Nerth-
they extensive liabilities which
o that,
would either of them incur the _i'ril- Counties Company
confidence,
edreengereetted
Whatever
convinced that they
: to either of th_atever in these arrange-.
mtvehocenlyl
ltdsh
profitawddearsives incurred
llarge
guen unless
profit.
profit to the Blackwell. He believede companies would be
time
t.tte 0
at
183
,:la,ianiershci
Blackwell
jruleenorloinyningittporhirrplaorrttypohrv,teihesei
proved
rely upon
voted theirdiest
capital,uti
nonrras: i nine withi:lV:eh:lC: hi
i VIlela: In .
rr
ae
tl
ieor
,e reference t
to observe that although their pasaaiceeunts, he begged
largely increased, yet their expen passenger traffic had very
sea had - .
not increased
edneverOgteieds.
actual reduction had taken place. •
fAth'heilic,srtopthrzolc" - the directors
'was' one of the esseutial points to teht-I,ceen3Y. in working
were ,benefiting themselves, for tee
tehoe.itrh el4te benefitnt attention.
o.
(lir:, of course they
din the stock bf the pp directors were .very
t) assuren them that no exertion shon d 4; but he begged
the
,best return. for their capital. The wanting to get
conerided by"meving-the :Woolen of -the --91elltleman
counts, which have atecady been published.
eP"t and ace
Mr. l',lrret. 'seconded thte.niotion.. . . .
In answer to .questions by severerprp -
TheSbeettneet said the sum.priefors
. , . guaranteed_ • •
Eastern Counties Company. as 5 per cent by the
'the capital required for stations and completion°n 50,00.
accommodation, to meet the traffic of that company of the
the subject of the trains being run at ae°L"Pee37. On
'than they. w ere,. he explained, that the earlier hour
generally commenced funning is March, and trains
traffie declined, so the trains were run later with as
the .early
to accodate the public. As to the stea a view
all that mold be said was that the compantebent traffic
dated their prices to the condition and competitionyaccomme-
the river traffic to the best of their judgment. of
' Mr. LEVY congratulated the directors on
proved position. He did not think,
however their im-
proved for the year was anything to boast of, that 4s.
an improvement to be pure; but then they ou ht 11
was
member that they, had only been receiving 2s.i
e..,t0 re-
ere.. ,
Reeolutione were then passed approving thep'
and accelints, declaring the dividend of 2s. ed. report,
re.electieg the retiring directors and audit Per
sharf4.
ors, and
A vote of thanks to the Chairman and
secretary 01i,,„,1
this proceedings, which occupied little more than
half
sib hour. • .
-------

epAorNt
proprietors was held
AST AND
mtEGSLImNJoIyArNtehacEIedTOtIOORN Dfromßltßhe:
John Scott. Esq.,
yelst'ehredabYalafjetahrelY ErnuestnngSta!i
chairman of the company, presided.
"Mr. H. CHUBB, secretary,
.directors, of which we bare already given au abstract.
The Secrkary also submitted a general statement of,
receipts and disbursements ou the capital account, from
which it appeared that the income from the formation of