The Sun.
London, England, 1852-08-03 00:00:00

NOVEMBER.

Worcester Autumn ... 2 1 Cowbridge Hunt lO
Epsom ...... 4 I

IRISH RACES TO COIIE.
AUGUST.

Down Royal Carp 3 Tuam
Placenix Park lO Ballinrobe
Roscommon

SEPTEMBER.
Limerick
Curragh
Johnstown 2l

OCT(
Curragh l2 1
Down Royal:Corp 2O 1

IBER.
Carlow

_ -
WESTERN OF FRANCE RAILWAY.
A general meeting of the shareholders of this
company was held at Paris on, July 29, in one of the
rooms-connected with the terminus at the Barriere
du Maine, M. Rive], the president, in the chair.
Near him were seated the following directors :—the
Duke de Noeilles, M. de l'Espee, M. Jervais, M. 'lo-
belia M. Blount, and M. Simons ; also, M.Thibau-
dean, the counsel of the company. M. Benoist d'Azy
and Mr. Reed were appointed to the office of scruta-
tors ; and the meeting having been declared duly
constituted, M. Coutin, the secretary, proceeded to
read the report.
This document consists of two parts, one relating to
the construction of the transverse branch line from
Mezidon to Le Mans, to connect the Caen line with the
Western; and the other giving an account ofthe results
of the working of the Western line for
months,_ comprised betweenpoi
the the five
28 and June
point,
-
30. On the first
a sketch of the various projects reporthich gives
had
been proposed for the execution of the line in
to question,
re
and the reasons which had determined the Board
sect all the offers made to it to act with others, and to
claim for the Western Company the exclusive right to
the proposed railway, so as to enable the Caen and Cher-
bourg line to give full satisfaction to the wants of the
populations of Normandy and Brittany, from being
placed in favourable communication with the Western
line. It shows how the pretensions of the St. Germain
Company to the proposed junction line were set aside,
and how the claims of the Western Compony were fully
admitted by the Council of State end the Legislative
Body. The whole length of the branch line, it states,
will be about 125 kilom. (78k English miles), the con-
struction presenting no particular difficulty, no tunnel
being required, and the line passing through a country
abounding in wood, iron, stone, and all the materials of
construction. The expense, as calculated by the Minister of
Public Works, will be 34 millions, or 272,000 f. per kilom.
But locking at the facilities which the Government is at
present disposed to afford for the new lines to be con-
structed, the Board conceives that a great reduction may
be effected in that sum, the engineers of the company
being of opinion that 200,000 f. per kilom. will be per-
fectly adequate. But even in allowing a wive margin
for any unexpected circumstance, the expense cannot,
the report declares, be more than 230,000 f. per kilom.,
which will give a maximum of 30,000,000 for the total
coast. As a subvention of 14,000,000 has been granted
to the company by the state, the sum which the com-
pany will have hereafter to provide will be at the utmost
20,000,000, one-half of which will be issued in shares,
and the other half in debentures. The report then
touches on the probable produce of the transverse line,
and quotes the opinion of Baron de Conde,
as expressed in the official report which he sent
in to the Government on the subject, from which
it was to be inferred that the line would give at least
18,0001'. of gross receipts, or B,ooof. of nett revenue per
kilom., being as high a return for the capital expended,
as is seen on the generality of the great lines in France.
The report, after stating that there was no necessity for
raising the capital in question at present, as the com-
pany had sufficient funds in hand for the first expenses,
proposes to the meeting to sanction the execution of the
line in question by the Western Company. The report
then comes to the second point—namely, the result of
the working nf the Western line from the 28th January
to 30th June. The receipts during that period
amounted to e• ••• 1,525,610 f. 4c.
And the chtu‘ges and expenses to ... 956,256 f. 12c.

Leaving a nett profit of ... —560,353 f. 92c.
or something more than llf. per share. The report,
however, does not propose to distribute at present as
dividend the whole of that sum, its reasons being as•
signed in the following words:—‘ But after having thus
stated in figures the nett produce accruing from this part
of the working, we consider it our duty to, remark to
you that the second six months of the year will see our
charges increased in a notable proportion. That aug-
mentation will result, Ist, from our working at our own
Bank) line; be the elevation of the
risk and peril from the Ist of July the Versailles (Right
and whatever ni3Y
produce from that line, we cannot hope that it will cover
us completely for the charges attendant on our pur-
chasing that railway; 2d, from the interest and
sinking fund of the bonds created for the
profit of the St. Germain Company, to pay the
sum of 4,300,000 f. for the construction of the
station in the Rue St. Lazare, and for the janction-line
of -Viroilay ; and 3d, from the call which it will be
to ne-
cessary to make on October 1, and which, looking the
wants mentioned above, cannot be less than 75f. per
share. In order to be prepared for these provisions, it
appears to us prudent to restrict the sum to be at pre-
gat divided amongst the shareholders at 312,500 f , being
a payment on account for the first five months equiva-
lent to 10 per cent. on the capital already paid up of
7,500,000 f. The remaining 247,853 f. 92c. will be car-
ried to the credit of the second six months of the year.
We consequently propose to you to authorise the distri-
bution of a sum of 6f. 250. per share on account, pay-
able on and after the 15th of August. The report then
enters into a comparison of the receipts during the cor-
responding six months of the present year and of 1851,
and shows that the difference in favour of the former is
not less than 294,731 f. From the information given
by the State engineers charged with the works
between La Loupe and Le Mans, that part of the line
will probably be delivered up to the company towards
the end of next year. The board has entered into trea-
ties on very advantageous terms for the rails and chairs
which will be required, and every measure has been
" '
taken to ensure the opening of that section as promptly
as possible after the works shall have been given —'y
up to
the company. There was reason to suppose that in the
course of the years 1853 and 1854 ail the ea •
cable to the construction of the line froth capital appli-
Mans would have to be realised. Tho report r
to Lo
by explaining that the importance of having
concludes
sion of the transverse line made definiti ng the canoes-
for the present meeting being held ve would accoant
time after that of May. within so short a
The report being concluded, th
in-
quired whether any shareholder desired eChairman
ob-
servations to the meeting. No to make
a wish to that effect, a resolutionone having expressed
choir, " approving of the was put from the
con
the Board with the vention entered into by
by the Western Government for the construction
Illezldon to Le Company. of the branch line from
Mans. p
The dividend of 6 u was carried unanimously.
f. 95e •
on account on the - '
p
er share, as so much
whole
dividend of the year, was
also approved of
unanimously.
The proceedings having
ing separated.
Lr

Tiondoo an.CI
...aONDON AND I\TOUTiI•WESTERN.
g out their
North-Western are, we understand, gefttlinnterest that
borrowed capital at such a rate:„ be materially
next half-year the fund for dividend,
that
on a former
enlarged. It will be remeniherenta the secretary,
occasion the financial ruenaremujogi:ed byMr. Glyn,
—The.
Mr. Stewart, was very muc°____any were indebted to
."LuPosiderable savings in
Journal.
that gentleman for ,a pampas,
who mentioned that
fftheecting c
interest.—Rerapath s -781,,.—The capital account of
MALTON low Illdrtorat 242,027/. had been received
abow,so the 30th June last, including
!IP iLinkers and 211. to the secretary.
tahnids
expendedcoinpan
RIN.—A scheme has been for
grrr
e for establ6hing a line of railway
Ruthin. Mr. Pensou a short period
some rn n
1 , IR3n2 /At.
indnu:be: tkton:
III:, survey of this line, which was approved
s now considered that the projectors have
foargfFiamnrt is of success. Sir W. Wynn, Mr. R. M.
every prOsr p _
vidduibi, AI. P., Mr. Townshend Mainwaring, Mr.
west, .P., and other large landed proprietors, have
promised their support to the measure. If carried out,
it is believed that the line will prove of the utmost
advantage to Ruthin and its neighbourhood. The
greatest facilities will be afforded to the farmers and
landowners for sending their crops and stock to the
more lucrative English markets. The local traffic in
coal will also be much increased, and the Vale of
Clwyd v.ill alto be thrown open to the tourist. The
line then would be carried• on to the Chester and
Lioly head Railway, running into it at Rhyl.

-----
KEEPER or TEE CROWN JRWELS.—Lieut.-Colonel
Charles Wyndham, formerly of the Scots Grsys, has been
appointed Keeper of the Crown Jewels in the Tower of Lon-
don, vice Mr. E. Swift, who retires ou full pay,
take effect from the itt of August. the same to