The Sun.
London, England, 1852-01-12 00:00:00

COMMERCIAL DOCKS.

LONDON AND BRIGHTON RAILWAY.

A special general meeting of this company was held
on Friday at the offices in Fenchurch-street, for con-
sidering certain new wurks to be undertaken by the
company in cousequenco of the increase of its business.
Robert Carter, Esq., took the chair.
Mr. SMIIHERS, the secretary, read the following re-
port:—
s.

" Your directors have the pleasure of stating that the
Bill which they were authorised by the court of pro-
prietors of the 20th December, 1850, to introduce into
Parliament, received the Royal Assent on the 3d July
last, under the title of • The Commercial Docks Act,
1851.' In pursuance of the authority of the court of
proprietors of the 10th January, 1851, and of the pro-
visions of the above-named Act, your directors paid the
purchase money of 40,0001. as agreed for the East Coun-
try Dock, and obtained a conveyance and possession of
the premises on the 7th November last. The deal yards,
sec., in that dock, are entirely filled with goods, and the
wart houses fairly occupied, paying a present rental
which yields a good rate of interest on the purchase
money. It has been the policy of the directors for
many years past to keep up the premises in
a high state of efficiency, au average amount
of about 5,0001. per annum having been de-
voted to that object, out of the earnings of
the company, during the last fifteen years; and the whole
of the premises are now in so perfect a state of repair
that but little expenditure" will be required upon them
for some years to come, exct pt for the purpose of afford-
ing additional facilities to, and saving expense in, the
transaction of business in the docks. Your directors
have anxiously and carefully investigated the plans and
estimates prepared by their engineers, Messrs. Walker
and Burger, for rendering the recently acquired pre-
mises available for the extended scale of business which
they contemplate; and they have also inquired with equal
care into the probable increase of revenue, to compensate
for the proposed additional outlay; and they now pro-
ceed to commuuicate to you the conclusions at which
they have arrived. The plans proposed for present
adoption comprise an enlarged entrance from the river
into the East Country dock, suitable for ships of the
largest tonnage; the extension of that dock, now contain-
ing only about two acres, to a deep-water dock of six
acres; a cut or communication from the same to the Com-
mercial Dock; and a railway extending from the Deptford
branch of the London, Brighton, and South Coast Railway
into the dock, along the quays, and to the warehouses,
as may be found desirable. The estimates fur executing
these works, including the necessary purchases of land,
and the alteration of roads and sewers, amount to
132,0001.; add for purchase of East Country Dock,
40,0001.; Parliamentary expenses and contingencies,
S,0001.; making a total expenditure of 180,000/. Of
this sum, as explained in the directors' report to the
ordinary general court of proprietors, 26,0101. is pre-
posed to be provided out of the company's rest; and if
,he proprietors shall approve of that recommendation,
,here will remain the sum of 154,0001. to be raised for
,he completion of the works. Your directors have en-

tered into communication with the directors of the
London, Brighton, and South Coast Railway Com-
pany, who aro so thoroughly convinced that a con-
nexion with the Commercial Docks would add ma-

terially to the traffic along their line, that they have
not only agreed to provide locomotive power and trucks
for the conveyance of goods to and from the docks at
the same charge to the public as from their own wharf
at Deptford, but also to allow to this company a pro.
portion of their charges for carriage. It is calculated
that the receipts from this source —from the
wharfage, &c., of goods passing to and from
the Docks along the South Coast and South-Easter❑
lines of railway—from the wood imported in large
ships, now lost to the docks in consequence of the defi-
ciency of depth of water at the entrance lock—from the
warehousing and other charges on goods other than
those now brought into the docks, but which will be
attracted to them by the superior facilities, and the
saving in expense, which they will afford to the public—
and from the additional business connexion acquired

with the East Country Dock—together with the saving
of expense in lighterage and management, will produce
an ample return upon the proposed outlay, by which the
future dividends of the proprietors will be increased.
Your directors, therefore, do not hesitate to recommend
that this court do give them full authority to carry out
the improvements suggested by Messrs. Walker and
Burgess; whereby also a security will be given to the
premises, from the possession of two entrances, which
has long been desired. In cousidericg the most eligible
mode of raising the additional capital required, your
directors have been desirous that the advantages from
the new works should be confined as much as
possible to the present proprietors, and they pro-
pose to offer them a stock at par, to be entitled
to a preference dividend in perpetuity, at the
rate of tour per cent. per annum, and to participate with
the old stock in the increased dividends which are anti-
cipated; and in the event of the whole amount required
not being taken up by the present proprietors, your
directors recommend that they should be authorised
either to dispose of the remainder to the public, or to
borrow a sufficient amount to make up the total sum
required, on mortgage or debentures, or otherwise, as
they may deem most to the interest of the present pro-
prietors."
The CHAIRMAN moved the adoption of the report,
which led to a short discussion, in which Mr. Josiah
Wilson raised some objections to the railway portion of
the scheme, which he considered would be unprofitable
to the company.
Mr. Gould, Mr. Dawson, the Chairman, and other di-
rectors persisted in looking upon the railway as likely to
bring great benefits to the docks.
The report was then adopted, and the directors were
authorised to take measures fur raising the necessary
capital.
The half-yearly meeting of the Commercial Dock
Company was then held; Robert Carter, Esq., took the
chair.

The report of the directors was ready, from which we
make the following extracts:—
" The wood business at the docks during the past
year has been more extensive than at any former period,
the tonnage of wood-leden ships entering the docks in
1851 having been 180.414, against 130,150 tons in 1850;
139,652 tons in 1849, and 132,406 tons in 1848. The
stock of word goods on the premises has been large
throughout the season, and at present exceeds that on
hand at the close of any previous year. Notwithstand-
ing the reduction made in the charges on wood goods in
the early part of 1851, your directors have reason to
believe that the net profit in this department of the com-
pany's business will surpass that of 1850, while the re-
ceipts for dock dues oa ships will be considerably in-
creased. The company's warehouses have been only
partially occupied during the past year, in consequence
of foreign corn imported having generally been taken
from the ship for immediate consumption. The stock
in granary is now less than at the corresponding
period of last year, and there will be some falling
off in the company's profit under this head. Your
directors recommend that a dividend for the half-year
be declared, of 21. per cent. (free from income•tax),
upon the capital stock of the company, and that the
same be payable at this office on and after Monday, the
26th inst., between the hours of 11 and 3—Fridays and
Saturdays excepted. It was stated to the proprietors, in
the directors' reports of the 14th June, 1839, and the
14th January, 1843, that they had erected two new ware-
houses, with the intention of appropriating their earn-
ings for rent to the gradual extinction of their cost. This
course has been pursued to the present time; and. while
the general revenue has been considerably benefited by
the profits on receiving and delivering. goods into and
from these warehouses, the net rent received thereon has
amounted to 10,2431. 14s. 11d., by which the original
cost of 12,5021. 13s. Bd. has been reduced to 2,2581. 18s.
9d., at which sum these warehouses stand in the cora-
, pany's books. Your directors have considered it advis-
able, under present circumstances, to anticipate the
period at which this balance would be paid off; under the
original arrangement,
.and have directed the above sum
to be charged to premises recount,"
The report was adopted, and a dividend of 2 per cent.
for the half year was agreed to, payable on and after the
26th instant,
A cordial vote of thanks was then passed to the chair-
man, deputy• ;
their services cdhuarfmngatnh,eapnadsdt iyreecatro_rs
Aofd
jthouercnozany for

TILE CO UN TIN
LIVERPOOL, JAN. 10.-P,
B. d, s. d

Y Mr'a AKETS.
, d,
d•
•ice 6 were as folly

Wheat, per 701 b 1
English, white 6 0 to 6
Do. red .. 5 8— 6 0
Irish • • ~ .. 4 8— 5 4
Manx, red and wh. 5 4 5 10
Dantsic, high mixed
Do., mixed • • .. 6 0— 6 6
American & white 6 0 6 3
Canadian, /red 5 4 5 g
Rostock, Ste • • .. 5 10 6 4
llamburgh, &c. • 6 4 5 8
Rhenish .• 510 6 0
French • • .. 510 6 0
Danish & nol,tein 5 4 5. 6
Odessa, Polish 5 2 5 6
Do., common .. 5 0— 5 '2
Do, hard • • • • 4 9—4 10
Egyptian •• 4 0— 4 8
Flour, English &
Irish, per 28018 30 0 32 0
Do., extra fine 32 0 —35
French, fancy • • 35 0 —3B 0,
Do., superfine . 31 0 —35 0,
Richmond, choice 23 0 —24 0
Philadelphia, &c. 21 0 —2l 6
Canadian • • .. 21 0 —22 0
Indian corn, per

llarley, English, pr
imperial quarter 29 0 —3O 0
Irish, Scotch, and
Manx,per 601 b.. 3 8— 3 10
Foreign, grinding 3 2 3 6
'Lye, per 601 b .. 36 3 9
Beaus, English, pr

imPerial quartr 31 0 —3B 0
Irish and Scotch,
per 4801 b .. •• 27 0 —3O 0
Dutch •• •• 30 0 —32 0
Egyptian •• .. 25 11 —26
Peas, English, per

imperial quartr 36 0 —3B 0
Foreign .. 33 0 —35 0
Oats, per 451 b

English, Scotch,
and Welsh, old
Irish, ue- . test
mealing .. • • 2 8— 2 9
Do., feeding .• 2 4 2 6
Do., foreign .. 3 0 3 2
Oatmeal, English,
& Scotch, pr 2401 b 24 0 —25 0
Irish, new .. 22 6 —23 6
Do., pinhead .. 24 0 —26
Canadian . 20 0 —22 0
Malt, per imp. qr. 53 0 —56

2 4 - 3 6

480Ib, white .. 30 0 —32 01
Irdian Corn Meal,

per 701 b .. ..' 15 0 —l6 1;)

MANCHESTER, JAN. 10.--The trade throughout the
awoeuerk
bhuassi continuedliess
has
beento maintainchecked
high =dons
of holders, but at a further advabnycetohf 6d per sack sales
to a tolerably fair extent were effected. Other articles
sold more freely at previous rates. With the exception
of about 8,000 loads of oatmeal from Ireland. the ire-
ports thence and coastwise iuto Liverpool and Runcorn
are this week scanty. From abroad the arrivals of wheat
and beans are to a liberal amount, but only moderate of
flour. At our market this morning there was only a
limited business passing in any article. Nevertheless,
wheat was steady at the currency of this day se'nnight.
Flour firmly supported the amendment obtained during
the week, and we raise our quotations accordingly, In
white
barley,wheat,
oats or oatmeal no change
i o _wGa
es observable.
Good
_ a
Englishg .Malting
31 681/4V:ietitorc:b::g:d;itp'aenjrdbUr.eshdel bushel; and f'r
distillingh
8a 9J New English beans, 3s 6d to 3s Bdper3s to
bushel;
old, 4s
oats, 2s 9d to 3s; Irish, 2s6u6dp
to 4s 2d; and foreign, 3s .
to
or
2bushel. v v
iNw
n teer
Englishvetches, 3s 6d to 4s. White peas,
3s 6d to 4sgrey,
33 od to 3s There 8d per bushel. • and e
was a good supply of
grain at Kidderminster market ou Thursday, but busi-
ness was dull at a general advance of lo per quarter
upon last week's rates. Beans and peas, however, barely
maintained the currencies of lust week. We cannot
quote try alteration in the val4o of oats.