The Sun.
London, England, 1852-08-18 00:00:00

17.77r-3 ::73 rr:,,5,1riN572
.66-3
(4 kl,ll,
N°.18692.] LONDON, WEDNESDAY jil-11 ti 41:5
?A 183 1852.
tflar,S. 7 AUGUST

CAPTAIN PENNY'S EXPEDITION IN SEARCH OF SIR
JOIN FRANKLIN.

Just published, in 2 vols. post Bvo., with Two coloured Charts by A.
Petermann, Six Plates (four coloured), and numerous Wood En-
,ravings, price 275. cloth,
JOURNAL of a VOYAGE in BAFFIN'S
BAY and BARROW'S STRAITS, in the Years 1850 and
1,1, performed by H.I.N Ships Lady Franklin and Sophia, under
the command of air. William Penny, in search of the missing Crews
of Mal. Ships Erebus and Terror with a Narrative of Sledge Ex-
cursions on the Ice of Wellingtm Channel ; and Observations on the
Natural History and Physical Features of the Countries and Frozen
Seas visited. By PETER. C. SUTHERLAND, Ist D., M.R.C.S.E.,
Surgeon to the Expedition.
" The dangers and uncertainty of arctic navigation are described
with more minuteness and elaborate detail in the work before us
than in any that has yet issued from the press lt would
hardly be possible to get a minuter or more practically useful insight
into arctic life than these pages aff)rd."—Literary Gazette.
Loudon : Longman, Brown, Green, and Longman.

SECURITY TO EMPLOYERS.
TO SECRETARIES OF PUBLIC INSTITUTIONS,
CLERKS, STATION-MASTERS, RAILWAY OF FICIALS,
BANKERS' CLERKS, TRAVELLERS, AND OTHERS.
TIMES LIFE ASSURANCE and
GUARANTEE COMPANY.
32, Ludgate-hill, London.
GUARANTEE FOR FIDELITY OF TRUST.
PROFITS DIVIDED.
RATES—From 7s. 6d. per cent. upwards. No charge for Stamps
An allowance made in the Guarantee Premium where a Life As-
surance and Guarantee are combined.
LIFE ASSURANCE.
Policies Indisputable save in cases &Fraud.
Arrangements can be made with this Office to prevent the loss of a
Policy where the Assured is unable, from temporary embarrassment,
to keep up the payments,

H. B. SHERID4.N.
TIMES FIRE AND PROPERTY ASSURANCE COMPANY.
Every description of Fire Assurance. Profits Divided.
Agents Wanted.

H. B. SHERID,UT.

IMPORTA.NT MEDICAL AND SURGICAL WORKS,
Just publiAied, by IL Bailliere, 219, Regent-street, London.
No I.

Bvo., in cloth, price 55., by post free, ss. 6d.,

- -
ON TRUE & FALSE SPERMATORRHCEA ;
with the View to the Correction of wide-spread Errors
in relation to the Treatment and Cure of Sufferers from Debility of the
Generative System, or Sexual Hypochondriasis.
Translated from the German of Dr. PICKFORD.
"Dr. Pickford is known to English readers by his frequent practi-
cal contributions to German medical literature. This is the first
time, he informs us, that he has addressed himself to the non-medi-
cal reader. We trust this may not be the last, if he shall
detect any other equally flagrant evil which it may be in his
power to correct."—London Medical Gazette, May 30, 1851.
—" The editor has conferred a great boon on the sufferers from this
distressing malady by translating this little book, and by laying bare
the scandalous practices of unqualified adventurers, who profess to
cure a disease of which they know nothing, with no other object
than to fill their own purses. The difference between true Sperms-
torrlicea and the various forms of disease which resemble it are
accurately described, and thus a safe guide is offered for the
treatment of the malady "—Medical Circular, May 5, 1852.
—" We have delayed so long upon the contents of the preliminary
chapter, that we have scarcely left ourselves space for any notice of
the subject specially treated of by Dr. Plckford ; but the moderate
price at which the ' brochure' is sold, places it within the reach of
every one interested in the matter."—Dublin Medical Press, April
8,102.

No. 11.
Svo., in cloth, price Is. 6d., by post free. 4s.
THE CURE OF STRICTURE OF THE URETHRA, on Princi-
ples at once Simple, Safe, and Efficient, in even its most Inveterate
and apparently Intractable Forms. To which is added, PRACTICAL
OBSERVATIONS ON THE TREATMENT OF SPERMATORR.
[KEA BY CAUTERIZATION; its Inefficiency and Danger.
BY F. B. COURTENAY,

Member of the Royal College of Surgeons of England.
" Those who complain most loudly are those only who know not
how to use the common instruments
geons has been mar'ed with all kinds of violence, an indifference
about the simple cure of diseases, and a passion for operations and
all the excesses aad horrors of surgery."—John Bell's Surgical
Observations.—" In pro3f of his views he (Mr. Courtenay) has
given the history of a great many cases successfully treated, as bad
as any which Mr. Syme adduced, and on which he had operated.
Such are cases ix., xi., xii.. and xviii. No. ix. had resisted, for a
period of twelve years, the treatment by dilitation, and was finally
removed in as many weeks. But cases xviii. and xix. appear, both
in duration, severity, and complication of symptoms, of a more ag-
gravated character than any detailed by Mr. Syme, and yet the
treatment adopted by Mr. Courtenay proved eminently successful."
—Professor Lizars on the Treatment of Stricture.

THE COUNTRY MARKETrat.
IPSWICH, Aua. 17.
We had again a small market, and but little wheat on
sale; the growers were very firm in their prices, and an
advance of fully 3s and 4s per qr. must be noted upon
prices of last market day. A sample of choice new Tala-
vera wheat brought 565 per qr. The crop of wheat, it is
now clearly ascertained, has received much injury, and
from two causes; first, the mildew or blight, rendering
whole breadths of land valueless to supply corn fur
human food; and, secondly, the wet and warm weather
has caused the wheats to sprout. We had at market
several specimens taken from the sheaves very much
sprouted ; it must be feared the white wheats are all
more or less thus injured.
PER QUARTER. PER QUARTER.
Wheat, red
Ditto, white oos to 00s Oats ......... 00s to 00s
Barley ........ oos to 00s Rye oos to, 00s
Ditto
Beans
AVERAGES FOR THE WEEK ENDING AUCI. 14, 1852.
Wheat
Beans l5 „ 32s Od
Peas
HULL, AUG. 17.
Messrs. Taylor and Bright's Circular states-The
following is a comparison of the imports into Hull to the
sth July, 1851 and 1852:-Wheat, 1851. 98,376; 1852,
9,963; barley, 1851, 90,923; 1852, 36,752; oats, 1851,
20,914; 1852, 5,717; beans, 1851, 18,040; 1852, 28,302;
peas, 1851, 7,805; 1852, 2,030; tares, 1851, 3,420; 1852,
650; liuseed,lBsl, 69,594; 1852, 87,679; rapeseed, 1851,
2,457; 1852, 3,791; oil cakes, 1851, 4,112; 1852,4,674;
bones, 1851, 8,776; 1852, 11,525; guano, 1851, 1,069;
1852, 2
.660. The weather during the past week
has been various : on the 8111, 9th, and 10th
much rain, which laid the heavy crops throughout this
district. Since then we have had dry cooling winds,
with a good deal of sun, just the weather desirable to
follow the rain alluded to above. Harvest is now quite
general, and so far as we can learn, the wheat in point
of quantity "cuts up" well, but quality will be various,
and the yield, as well, deficient to the very splendid
crop of last year. There are some few complaints of
blight, mildew, and sprout, but they are by no means
general or serious. The trade during the week has been
characterised by increased firmness 011 the part of
holders, but,by caution, almost amounting to inaction,
on the part of buyers, so that with a nominal advance of
2i per quarter in price asked, the actual business since
Tuesday has been quite inconsiderable. To-day we had
a large supply of wheat from our own farmers, and only
a small show of foreign samples, the late arrivals being
cleared off, and less offering from granary; the market
for both English and foreign must be quoted is to 2s per
qr dearer, but very slow sale at the advance. The late
import of barley having got pretty well disposed of; the
market is firmer, and in some instances a trifle dearer.
Oats are the turn in favour of the buyer, but beans fetch
6d more money. A good demand for peas, but none of
fine quality on the market. Linseed maintains its value,
with but a small supply for the general market. Cakes
still improve, and no fine foreign remain unsold. No
import of foreign rapeseed, and rape cakes continue
scares end dear. Any arrival of bones wound meet
ready sale.
The following are the present prices of grain
B. 13.
Wheat, English, red 40 to 43 Yeas, white and yeL 30 - 32
Do. white 44 - 46 Do. grey - 29
Dantzic and Ko- Linseed, Black Sea 44 - 46
nigsberg 42 - 46 Do. Petersburgh ... 42 - 45
Pomeranian and Do.Riga&Archngl. 38 -42
Hamburgh 36 - 40 Do. Konigsberg 40
Danish, Holstein, & 'Per ton.
Friesland 36 - 38 Lins. c., Hull Ot Os Od to 71108
Russian and Odessa 32 - 36 Do.
.fine f0r.....71.5 01 to
50dto 0/ Os
Oats, English .......17 - 19 Do. infforeign ..
_6l 10,.
Do. Danish.... .1- 18 Rapeseed 23/ 108 to 00/
18 - 21 Rape cakes...B7s 6d to 005 o•',Do.Friesland
gnnglish
3000;
Do. grinding 23 - 2l• Guano .........
DBaor.lßeya,sms'artinOgdessa 0150 0011813Daor.efos'reEi
41 71 to 9/ Os
30 - 32 Bones, do ...... 90s Od to 00s
Beans
Do., foreign 2B - 30 Rye Meal
CORK, AuG. 16.

Barrels.
O White wheat 00s Od
O Red wheat oos Od
O Ditto oos Od
O Ditto oos Od
0 Barley Os Od
O Ditto oos Od
0 Ditto
94 Bere— —. 9s 6d

Currency.
to 00s Od 00s Od-20 sten
to 00s Od
to 00s Od} 00s Od-20 do
to 00s Od
to 00s Od
to 00* Od} 00s od-09 do
to 00s Od
to 10s Od

O Od

_ -
286 Oats Bs 8d to 9s 8d
124 Ditto ...
0 Ditto
0 Pigs. 00s Od to 00s Od 00s Od per cyst
Quantity sold at the Highest Prices:-
0 barrels white wheat; 0 red ; 0 barley; 58 bere; 5 oats,
0 pigs.
Quantity of Grain and Number of Pigs sold last week In.
Wheat, 1. Barley, 0. Oats, 1,463. Pigs, 0.
PRICES OF BUTTER.
CANT. cunPANCT.
First quality
. ......... .. 64
665
Second quality
Third quality Third quality 57,.
Fourth quality
Fifth quality
Sixth quality ...... .... 43s Sixth quality ............
Return of Cattle sold for week ending Aug. 7,
Pigs, 630. Sheep, 232. Cows, 50.
coß,K,—Flour.—First 12s 6d to 135 Od; extra 14s Od;
I
s:.!it'Juds, 10s 6d to 123;o
103
su6a-ddlrndian incAl 7s 3d to 7s Gd; wheat-
meal, 9s to 10s 6d ; thirds, 75 tops
per cwt. Oatmeal las
meal, 936 d to 108 per cwt.;HltndiaFnacrmorner7Bllo4sstood'7‘to2;tl;
apveiertaogn;
111 Od to 16s Od ;
0133r8sT
d7e2asi6eradtooo79sosdpetorto7.l;
average
Bread—Wheaten loaf eri to Od
averageoo—s O
dealers)sper inn.
206 Straw.
o d
too(terni
me ..,
average 00s Od per ton.
thound4roe4d.
peCroaelsw—e,
''.loand
; Landore 00a ; Calm,
Newport 14s oEdg;gB
sepbeorldlb.loaf 5d to Od per 41b. Fresh butter, 9,i ~,
:aodper
12s 6d per ton. Tallow
rimperial gallon. Mot
Eggs--4s Od t0i.534395
Whisky, 25 o. p., ISs 9d Pe- 61.41; veal 4d t,
—Beef 4id to 7d ; mutton 5d to 9 i par .., i., I}, u
ops
7d ; pork 4d to Od ; bacon 6d to 7d ; sausages ba
6d to 3104 pe ton.
81 Rs to 9/ Os per cwt. Bangor 4ate, 2117*
Hemp 291 to 34/ r ton. Fish—Scotch herrings 18s to ..
Bark, red 7i to Si lOs per ton. Fleece wool 16s to (Os pieqrsszOrnec:l
ton. Timber—Mornel 70s per ton ; red ne, o 4 0
ditto, 24s to 00sPpe,er barrel ; Newfoundland, 101_0s to 111 1y1ey€,,,,,,,
ditto, 3/ 158' i 191 per 100. Hid ea.—
per ton; deals 5 to
Market 20, to 288 salted '2lls to 303 per cwt ; calf skin'
Sd to Od per lb. Potatoes white 7d to 9d; pink:
10d to 12d. Guano-Peruvian 'lOl lOs to 111 per t,:n. le:—
Archangel, 195 per barrel. '

Sir John Pakington arrived in town yesterday, from
his seat, Westwood-park.

RAILWAY 11°-:"TELLIGENCE.
SOUTH-WESTERN.
The ordinary half-yearly
.general meeting of the pro-
prietors in the London and South-Western Company was
hold yeeterdav at the Nine Elms Station. The adver
tisernent convening the inee,ing also announced that
after the ordinary business was transacted, a special ge-
neral meeting would. be held to consider the report of the
directors concerning proposed extensions.
Mr. Chaplin, chairman of the board of directors, pre-
sided. The attendance was not very large.
The report was taken as read. On the question being
put that the report be received and adopted,
Mr. UPCROFT asked whether the present accounts
contained all the debts and liabilities of the company up
to the 30th of June last? and if not what were the out-
standing amounts.
Mr. Hones (one of the auditor 3) replied that the esti-
mate future expenditure was 131,0001.; but he be-
hoved !het would be exceeded by about 50,0001. if every-
thing was done contemplated and ordered. The an-
ceunts, of course, did not embrace the works yet to be
executed. . .
Mr. UPCROYT called attention to the estimate of the
directors in their report :in 1848; and to the prediction
then made, that there would soon be a 6 per cent, divi-
dend. The divideed of 34, which the proprietors now
got; was a very questionable one; and he attributed this
to the directors not closing their capital account.—
(Hear, hear.) Unfortunately the interests cf the friends
of the directors, viz., of the attornies, the engineers, and
the contractors, were entirely opposed to those of the
shareholders; and the result was such ruinous specula-
tions as has been entered into, and as were still recom-
mended.---(Hear, hear.) What the proprietors had to
do was to force the directors to put a check upon them-
selves by closing the capital account; but unless they
(the proprietors) get the powerful support of the London
newepapers, he didn't think they would ever be able to
manage this. He wished this question to be answered
by the ehairman—at what period did the directors them-
selves contemplate closing the capital account?
The CHAIRMAN did not See what grounds the Hon.
Proprietor hied fur his dissatisfaction. In 1848 the di-
rectors made te eery careful estimate of the probable out-
lay that would be required previous to closing the capi-
tal account; and for two or three years he had, for the
board, repeated that statement, making the current de-
ductions each successive year. Last year he had not
had the pleasure of meeting the proprietary; but he
would willingly on this occasion go again into the matter.
They bad received 8,722,5161.; they had expended alto-
gether-8,614 885/., and they bad a balance of cash in
hand of 107,6311. Then be came to the liabilities. The
last estimate made was 640,8301., for all the works con-
tracted for. They bad spent, up to the 30th of June of
that 509,3491.; leaving to complete the proposed works
131,502/. In following out the estimates, experience
had pointed out many directions in which deductions
could be made, while on the other hand, occasions had
occurred requiring works in excess of the aggregate es-
timate. A case in point, illustrating the latter case,
might be mentioned. The great accumulation of car-
riages in consequence of the extension of the
line to 241 working miles had epsned the question
whether it was a wise economy to leave these
carriages without cover when standing in the winter,
having been used only in the summer traffic; and the
directors had taken on themselves to build a largo car-
riaao shed, buying a piece of land at the point where the
Richmond branch left the main line, going there to avoid
the heavy ground rent, which would not have allowed a
purchase nearer London. The cost was 7,0001., not cal-
culated upon; but obviously such an expenditure was the
true economy. Again, in consequence of the increased
traffic, it was found that additional water way was re-
quired at the Nine Elms station, with warehouses, to
conduct the business there properly; and that expense
was gone to. But, setting the unexpected outlays like
these against what had been saved in deductions from
the original calculations in other directions, he thought
they would be able to do the whole with the 131,5021.
This statement ought to be satisfactory, inasmuch as it
showed that at the outset there had been a very careful
investigation. (Mr. Uperoft—Yes, but the story as to
the dividends?)—(Hear, hear.) Since the old estimate
in question it had been resolved by a vote of the proprie-
tary to speed 16,0001. to go to Alton; 4,000/. ea ac-
count of the. North Devon, and 90,0001. to complete
the line to Andover. Well, after these things were
done with, there would be, according to his estimate, as
balance of cash in hand, 107,631/.•' for unissued shares,
972,462/ ; for calls in arrear, 6,6811.; for calls not made,
188,7981; further borrowing powers, 110,5581.; value of
the surplus property lett in hand, 187,7011: making a
total of 1,073,8311. Deduct from this total the old esti-
mate of 131,5011, the 16,0001. for Alton, the 4,000/. for
Taw Vale, and the 90,0001. for the Andover extension,
and there would be a balance of assets over liabilities of
832,329/. He did not want just yet to touch on the sub-
ject of the special meeting, but he did not hesitate to say
this—that it the capital account should be closed—end
afterwards desirable projects presented themselves—
there were twenty ways of opening a new account,
without mystifying the general capital account by
mixing up old with new items.—(Hear, hear.) In re-
gard, therefore, to the proposition which would be made
at the.special meeting, if they could not bring forward
a new capital account, clear of the old one, why they
would not touch the matter.—(Hear, hear.) While on
his legs, answering the Honourable Proprietors, lan
would go into the general subject. He thought that,
on the whole, their affairs did not look at all un-
satiseactory.—(Elear, hear.) Ho would not compare
thsis ai which .was quite an artificial year,
a
but, taking 1850, he found that
yearc ted w
ri2tihir, 181y581,,
from, the lat of January to the 10th of August, 1852,
they had a clear excess in receipts of 9141. a week.—
(Hear, hear.) This was a tolerable sum; and the result
evinced the wisdom of the liberal policy which they had
exhibited towards the public in regard to fares, gee. The
increase in the goods traffic was proportionate: for in
the last six months they bad carried 177,262 tone,
which was 12,000 tons more than in any preceding half-
year. There were also to he considered the advanta-
geous circumstances growing up around them. Looking
to the influence of the junctions, giving them to South-
ampton a communication with the north of England, to
the growth of the mail steam-packet service, to the calls
for shipping at Southampton in connexion with the emie
gration movement, he fancied he could see for this
company a very satisfactory prospect.—(Hear, hear.)
As to the expenditure he confessed it looked heavy,
but it was an exceptional amount. The last year,
with its great traffic, had brought a sudden great
pressure en the machinery anti stock; and the effect
of that .wear and tear had cely beou felt in this half-
year, He was, 'weever, now glad to state, and he
said it advisedly, that there was a marked improvement
in the whole of the compl's machinery Since the me-
chanical department had heels placed under the direction
of Mr, 'Beattie, In the reduced consumption of coke, in
s usewere
in
causes
generalt
j ofbf
working, taking the whole thing pilotovernengines,
the average of
miles worked, was only Bid. a mile; and this state of
things offered a fair comparison with the circumstances
on any other line south of London, which had not those
advantages in regard to the price of coal enjoyed by the
northern companies. The plant was.altogether in a most
efficient condition, and he believed they would get on
most satisfactorily this year.—(Hear, bear.) There was
one matter which he could not pass unnoticed; ho re.
fereed to the pain and anxiety the directors had under-
gone in regard to the unhappy conduct of their old ser-
vant, Ur. Stovin. Mr. Stovin had served the company
from the von y beginning, and unlimited confidence had
health
with
behinda ltbmembers
hand,
having
been placed in him by all parties. He (the Chairman)
hadb originally introduced him to the company, and had
getting
13,
otf becomehhe i s owndirectors d e
family,r
a u g
gote deranged,
habi securitymd
bo i
sgf for rbahbwoi mak::
for a tew weeks' relaxation, and, unexpectedly, he went
to America. Letters had been received from him indir-
newly denying the alleged embezzlements charged
against him; and he (the Chairman) had written to him,
offering to pay his passage back, and begging him to
return, to place matters in a proper state. As yet he
(the Chairman) had not ascertained whether Mr. Stovin
had received that letter. The affair was still unsettled,
therefore; 'but ho (the Chairman) hoped it was still pos-
sible some explanation would bo thrown over the con-
fused transactions in question, and that things would
turn out better than had been expected at first. As a
natural consequence-of the affair of Mr. Stovin, other
irregularities connected with it bad been discovered; and
the directors were at present in a difficulty with a Mr.
Ford, a carrier, who had brought large traffic to the
lino from the western districts, who was debtor
to the company to a considerable amount in Air.
Stovin's books, and over whom they had no clear hold.
The hold they had had was in the securities on property
which had appeared valuable and available; but it now
appeared that he had,got rid of this property, and ap.
proprieted the proceeds irreclaimably. His affairs were
now before the Court of Bankruptcy, and nothing further
could ho said about them as yet without prejudicing the
result unfairly. In dealing with carriers like Mr. Ford,
either as wholesale orretatl carriers, certain
risks must
be run, for credit had to be given to them just as they
were ohliered to. give credit; but the directors felt that
the more they could manage to `-iconduct their own busi-
ness the !Ater it woulct be for their interests. Accord-
ingly, th6y *ore determined to get such matters more
into their own hands; and they had a new manager join-
ing them, indeed, that very day (Mr. Scott), who had had
great prectieal experience in the north, and who would
carry out the new principle effectually. Mr. Uperoft
had made en, unkind allusion to their professional agents,
The law bills, indeed, would seem to be heavy; but the
reason was that• at the commencement of last session
twenty notices bad been served on lines connected with
!heir own, and all the matters to which these notices re-
Weil had reqnireel careful watching in Parliament. The
array of twenty had been :reduced to fourtean on the
meeting'of,Parliament.; and though these expenses were
all charged to revenue (and, as to closing the capital ac-
count, this proved theirs a good teal more
that was
&coed than some •
"mpantes who boasted of having
Onset' their own comet -
the revenue was really un-
ieflatenced by the circumstancese'tel . whichthis with expen-
diture was connected, (The sol 3. Chairman then de-
' tailed the subjects naatter of the
notices,) Then there
were law charges in connexions with appeals on poor-
iates-450/. having gone that way; and tan there were

the compositions made to parties who bad snif:red from
accidents on their raile. He did not object to fair ex-
penses in that ws ; but there was no doubt that West
improper attempts were, in some cases, made to extort
money from the company, and ac'dons of course had.t cca-
eionally to be defended. It was not always easy to prove
who was and who Was not a sufferer by an accident
to a train ; and when he mentioned that in one case the
parties alleging that they had been injured refused to
see the medical man sent to them by the company, the
proprietors could imagine in what hands the directors
sometimes found themselves. On the whole the law
charges were fair and moderate. The solicitors' bills
were all carried to the taxing master in the Court of
Exchequer, which was one guarantee for fairness ; tied
besides this the company now employed a law agent, if
he might call him so, to relieve the solicitor as to Par-
liamentary business, so that all was done that could be
done to neutralise heavy demands of this kind. In
conclusion, the Hon. Chairman stated that the direc-
tors were on the most friendly footing with the
Brighton Company, and were carrying out all the ar-
rangements, for the common traffic, made with that
company.
In answer to a question from Mr. EDWARDS as to Mr.
Scott's (the new manager's) qualifications,
Mr. W. HARDING (the secretary) stated thh, Mr.
Scott had been employed by the principal linos of Scot-
land, by the Edinburgh and Glasgow, by the North
British (of which he was the sole goods manager), and
by the Edinburgh, Perth, and Dundee. All these,com-
panies spoke in the highest possible terms of Mr. Scott.
Mr. EDWARDS protested against the directors not
taking a manager from among their own old officers.—
(Hear, hear.) Ho also protested against the system of
the directors going security for their own officers. They
ought to take the Guarantee Sooiety.—(Hear.)
' The CIIAIRMAN--YOLI may be sure I'll never eititi
rity again.—(Laughter.) In answer to questions as to
the security which had been given by Mr. Ford, it was
explained that it had consisted of a bond for 4001. given
by a lady, which she would pay, and of bills of tx-
change endorsed by good parties fir 1,0001., a portion
of which was being recovered, and also of a moiety of a
lease.

—APROPRIETOR—What security does Mr. Scott give?
The CHAIRMAN—For 1,000/ on the Guarantee So-
ciety.
Mr. Uzia.u—The rule now is, to take only the secu-
rity of the Guarantee Society.
A PROPRIETOR—What is the total amount of Stovin's
defalcations?

The CHAIRMAN—The totl amount is only 2,9201.,
and against that is to be set what will be recovered from
the sureties, and what may yet be accounted for on ex-
planation. _

- Mr. Sergeant GASELEE thought that what bad oc-
curred indicated that a lax system prevailed in the ma-
nagement of the company.—(Hear, hear.)
Mr. HELPS addressed the meeting on the paragraph in
the report relating to the election of directors. He begged
it to be understood that he was not placing his own
name in opposition to Mr. Sergeant Gaselee or to Mr.
Mortimer, but that ho was acting in entire concurrence
with them. He was only a candidate on the supposition
that there was a third vacancy. The paragraph to which
he alluded was the following:—" In pursuance of the
promise given by the chairman at the adjourned half-
yearly general meeting of the 25th February last, two
vacancies at the board were announced on the 6th June,
which vacancies the shareholders will have to fill up at
the present meeting. The two vacancies were caused,
first, by the retirement of Mr. Aikin, a man of great com-
a most efficient director of this company; and, se-
ymeeerresial experience and ability, who has been for twelve
eondly, by the lamented death of General Reid, M.P.,
a large shareholder, most assiduous he the duties he
assumed when he was elected a director, and endeared
both to his colleagues and the staff of the railway, by
the kind interest he took in all that concerned the just
treatment of the servants, and the honourable conduct of
the company's affairs. Since the period of the an-
nouncement of these two vacencies, the directors regret
to state that the Right Hon. the Earl of Morley, the
able vice chairman of the Board of Directors, has found
it necessary to relinquish his seat, in consequence of the
circumstances, in regard to the extension of this line
westward, which were the avowed reason of his having
joined this board in 1846, being in his opinion changed."
Now, they would all remember the circumstances under
which the promise was given that the vacancies in the
direction should be placed at the disposal of the pro-
prietors at large. It was to be something in the way of
a compromise, or, at least, of a concession, to the 900
proprietors who had complained that they found it
impossible to obtain any share in the management
of their affairs. It was to bo an act of grace—
something more than the law would have compelled
the directors to do. The Hon. Gentleman who
had made the promise on the part of the directors (Mr,.
Smith), said that two of the board would retire absoe
lutely—that they would resign and not.offer themselves
for re election; and that the vacaticies .anseatuaed would
be placed at the disposal of the shareholders. Now,
bad that promise been performed? ' He would not say
to. the leamr, for he should be the last man in the world
to hold any one to the mere letter of his promise. But
had it been kept in the spirit?—(Hear.)
The CHAIRMAN—Mr. Aikin retired for the very
purpose.
Mr. HELPS. was aware of that. Ho would not deny
that there had been a partial performance; but a Part
was not the whole;
and it was this to which he wished
to draw the attention of the company, and, if necessary,
of the public; he did think that this was a question
of social morality not unworthy of the attention of the
British press.—(Cheers.) Had the directors substan-
caused by the
tially performed their' undertaki? He maintained
that they had not; for the vacancy
death
of General Reid was one that was entirely out of
their power to fill up. It was true that in the ori-
ginal Act the power to fill up the occasional
vacancies caused by death, resignation, or the like, w,
placed in the hands of the beard; but in a subsequeut
Act that was repealed, and the power was conferred on
the shareholders at large, to be exercised by them at a
Cear, hear.)
time prescribed by law, namely,
g he at the first half yearly
or special general meetinld afterwards—that wa
in the present case, at this very meeting.—H s,
This seat had thus been placed at their disposal, not by
the act of the directors, but by the act of the law. iel"w
then could the board take credit for it as a part perform-
ance of their premise?—(Elear, hear.) If there was any
dispute upon the point, it ought to be decided, not by
the board, but by the shareholders, fur it was go ele-
mentary a principle of morality, that the interpretation
of a premise should rest, not with the party by whom,
hut to whom, it was made, that he was surprised that
the directors should re quire to b 3 reminded of it.--
(Hear, hear.) Mr. Helps then
proceeded to criticise the
passage relating to the resignation of the Earl of Mor-
ley, and after some conversation as to the date at which
it had been received, be concluded by urging upon, d
meeting either to insist upon having another seat place
at their disposal, or in some other manner taking the
matter into their own hands.
Mr. Smell admitted the truth of Mr. Helps's state-
ment of what he (Mr. Smith hadomised to a body of
pr the shareholders ut the last) meeting,
wish they had expressed to have an infusion of new
blood, as it was termed, into the board; but at
0,
time none of them could have anticipated the death
or.
General Reid, who was then as likely to live as any of
them. By the Gallant General's lamented decease, one
vacancy was created, and they had made
Surely that was a substantial fulfilment of their promise.which
Mr. Sergeant GASELEE regretted the courshee
had
the board had taken, for he did not think
in deference to
tbat'dtenyt for
fully carried out their promise. This
how long could General Reid offer himws:lsf efvoltri
elec-
tion?—(A laugh.) It was, however, Perfecyi
they deter-
terial to him (the Learned Sergeant) what reties
mined to do, as ho did not intend to use the perway the
re-' for
bad been entrusted to him, either one
d the pro-
other.--(llear hear.) Still he recorovaende
prietors to take the matter into their own da. and he
should give his single vote for their dealing with
in some way.—(Hear, hear.)
who bad been The CHAIRMAN CHAIRMAN really did not see
_.
d•They had
waged by the course taken by the boer
should have
given the shareholders a promise that they
That oppor-
an opportunity of electing two directors.ould be content
tunity they had, and ho hoped they would
which
the seat
with it. If they wanted the board ""
was a very popular idea—(Hear)
elect a new mem-
not object; but if they determined to
best to make
ber, he was sure the board would do theirer.) With re-
him comfortable and happy.
—(Laeu bad that morning
speet to Lord Morley's retirement, b
intimated that
received a letter, in which his Lordshipd by the ill health
his determination had been confirnieue_ering.
His (the
idea—(Hear)—ells direotors would
under which ho had since been tt
that they , ,e
chairman's) advice to the meeting
Earl at present. Let
not elect a substitute for the Noble Earl
the "new blood"
was
them wait a little rind
: settling at Southainp-
se
large steam navigation companies
company. It might
ton, and there was also the docka
might be found to
happen that a good mercantile
:3:ould be able to unite
worked.—(Laughter.) Besides, there there were several
represent these at the board
and and advance their to assure them that at
At the same time it was proper
in their mind's eye.
present they had no such a colleague
items in the accounts,
After a few explanations upon
the length of credit
A PROPRIETOR asked what was
mutual interests.—(Bear, hear.)
given to the carriers?
The CHAIRMAN—Whea the security is good we allow
three months.
Another PROPRIETOR then
bdrew attention to the fol-
lowing Paragraph in the repot
11 interested in the town
" A responsible party, 10" Yd tomake branch
and suburbs of Mitcham. has oir __Ace a
_.
at Wimbledon to Mit-
cham, the station of the company a Perfect level,
chain, a distance of two miles'boankinient, or obst wi'th-
uetton,
out any interposing cutting, are.
this company of
on a guarantued rent from
of 5 per cent. on computed
annum, being at the rate
cost. This hranch will be capable with
a branch which tee Brighton Company have agreed to
andlive Wittlara:lerdfent.
make from Croydon to Mitcham,.
on cereta_einr conditions,
of being joined
with the same party who has mime the. ff
vine question
to this company. The directors, seeingthe ryattrac-
property between Croydon
them to take up the project at tiny time during_ the. next
to do so, and nau-
hre,abatiaidielfd the proprietors to authorise
patties 0411 ba at-
yule:ll'l,y weithteilifliset
tnverayy itieprnmeasirs
tee X9evegn ieie
all
lt

ranged. It will, on the terms proposed, involve no
additional expenditure of capital to the company, and bo
undoubtedly of local convenience in a populous neigh-
bourhood, and a productive feeder to the main line."
Mr. HERAPATH concurred with the Hon. Gentleman
in thinking 5 per cent. very high. When they consi-
dered that their debentures were only at 3i per cent., it
was perfectly monstrous. He should like to know who
the gentleman referred to was?

eergeßidadnedr,whohappenedto
The CHAIRMAN said there had been a line proposed
i Croydon,
parties,b y a
and;st Wimbledonothers
se-
parate party. This was looked at by several ---
ih
farmoman
have a large property at Mitcham.—([Tear, and g )
Dir. HERAPATH—We know ho is a al"
h.-
The CHAIRMAN—The
schemealso goodc calculator.
board. At this time the Crystal Palaceam came before the
the
tviB, and the desirability of taking it to Kew.:o sr
to on
so
other part of their own domains, was under considera-
tion; tion; but these plans were superseded by the Brighton
Railway, and so all chance was lost of the South-
Western snaking any arrangement. Nevertheless, the
line being in the direction of the Crystal Palace, the
question still remained whether some satisfactory terms
could not be come to with the South-Eastern, that might
still make it worth the attention of this board to enter-
tain the projeot. At all events, it ought to be recol-
lected that if nothing substantial came from the South-
Eastern which might make it worth the while of this
company, nothing would be done in the matter.—(Hear.)
A PROPRIETOR suggested that it would be best to
strike the passage out of the report.
Another PROPRIETOR thought that if they were to
make the line at all, they ought to make it themselves,
and borrow the money you, per cent.
A VOICE--HOW can if your capital account is to
be closed?—(Near.)
.... Mr. HEatra.Ta moved that the paragraph be
ex-
pungedreport
from the report. He had also been informed
that
t bad been made by Hr. Peter Clarke upon
a
the working of the Nine Elms station, and that he had
pointed out bow 1,8001. a year might be saved. Was
it was stated that the secretary had
that correct? Again,
given evidence before a Parliamentary Committee upon
the Woking Cemetery scheme without the sanction of the
board. He should like to know whether that rumour

was true?
Den' one,
it was so like a former plan
scheme was a --11 consideredthe board, that
it maturely by
which had s
• dso much examination. Their secre-
taryit had not require
• tructed to meet the parties when they
The CHAIRMAN said, that although the Woking
had been ins
and also to give evidence
the Hon. Geotleman that the company were pledged to
renatdarfCcoe'mmittee. He could assure
re not pledged to give up any
or agreement by which
land, or to any sort of condition
be fairly remunerated. They had agreed
they would not daily,
ebnaeomftoherientgtoh_tehtebr
aaYrt oti
ihraket
vir
should be paid at their own discretion. He
matters they
could assure the lion. Gentleman that the board were not
bound to anything from which he would wish them to
that a train should be run and that for all other
depart.—(Hear.)
Mr. HERAPATH still pressed his motion respecting
the Mitcham line, and expressed a fear lest they should
be Bidder-iced altogether.--(A laugh.)
Mr. UPcROFT seconded the motion.
expe-
a verync eMr. MALINs said that by the terms proposed they
would avoid all Parliamentary b.)
riewhich the proprietors had
been made to e
Hexpenseshad ,hadand that
someitas
W
ply after the rate of more than 10,0001. an
acre.—(Hear, hear.)in a cheapsimbailragrail—e, (0.
in
satisfied with his promise that the directors would do
nothing with the line until they again met the The CHAIRMAN thought that gentleman ought to be
proprie-
tary.—(Hear. hear.)
Mr. DicKENsON condemned the idea of this line as
altogether ridiculous. The new Crystal Palace would
excite at firset, advantage.y likely,
7, a popular furore; and to meet
all th
the rush a line was already in existence which would
rea
But by that time the South-
Western's branch was ready that furore would be over;
verll
and there would be no traffic.—(Hear, hear.)
Mr. LOCKE, M.P., thought it was an error in the di-
rectors to meet this point at all in the report, since the
paragraph led to nothing.—([le,ar, bear.) Were the
question as to this proposed line really before the meet•
ing, he would certainly say that the terms were too
high,—(Hear, hear.) But as no sanction was asked, and
as nothing was proposed, the amendment was unneces-
sary, and further discussion of the subject would be
waste of time.
Mr. ADDISON differed entirely from Mr. Locke. If he
knew anything of the customs of corporations, he was
sure of this, that to agree to the report, this paragraph
iacluded, would be to give the directors authority to
undertake this new line.—(Hear, hear.) He objected
it
comp )y, to the proposed guarantee. Guarantees had
beent ruin of railways.—(Hear, hear.)
The CHAIRMAN said, that as the wish of the meeting
appeared to be that the paragraphs in question should be
struck out,. the directors would have no objection.
The objectionable paragraphs were agreed to be
erased, and the report was then unanimously received
and adopted.
After some discussion on a resolution of an unimpor-
tant and unanimously-condemned character, proposed by
Captain Moorsom, a resolution was carried declaring a
dividend at the rate of 3i per cent, per annum, payable
on and after the Ist September.
A conversation having again arisen respecting Mr.
Stoviu and the system pursued by the company as to
sureties for their officers,
Mr. SAINSBURY asked whether the solicitors of the
company were of opinion that the surety provided by
the Guarantee Society was preferable to individual
sureties? (Mr. Sainsbury referred to a case in which
the Guarantee Society had attempted to evade payment,
and had been defeated by the verdict of a jury.)
The CHAIRMAN observed that they had been exceed-
ingly pleased with the Guarantee Society's way of doing
business. Its inquiries es to the parties were most
rigid, and the company had never had any difficulty in
the settlements with it, and they had had several.
The SOLICITOR ea • i d the matter had been brought be-
fore his notice very soon after the establishment of the
Guarantee Society. Ho must confess that he very much
preferred the simple form of bond taken by the company
from two sureties.—(Hear.) At the same time he was
not prepared to say that the guarantee
safe. Of course, as ho had drawn up the old form
of the bend, he was rather prejudiced in its favour,
and there were certainly a good many provisos in the
policy. But the policy could hardly be said to be so in-
secure that he ought to advise the company to le fuse it.
—(Hear, hear.) One objection to the old bonds was,
that they required the assistance of a lawyer, which en-
tailed upon the clerks au expense which they could ill
afford, and from which the policy was free. It was a
desire on the part of the board to avoid the necessity of
professional advice, that the society's guarantee was
adopted in preference to others.—(Hear, hear.)
The resolution declaring the dividend was then
agreed to.
Mr. TITE then proposed, and Mr. BAKER seconded.
that rrir. Sergeant Gaselco be elected a director. Carried
almost unanimously.
A PROPRIETOR proposed Mr. Hutchins, but that gen-
tleman withdrew from the contest. As there were only
two vacancies to be declared, he did not wish to contest
either with the Learned Sergeant or with Mr. Mortimer,
who had polled such a lame number on the last occesion.
Mr. BAKER and Mr. HERAPATH proposed and se-
conded Mr. Charles Smith Mortimer, whose election in
like manner was carried all but unanimously.
A PROPRIETOR asked whether Mr. Mortimer would
work harmoniously with the other directors with re-
spect to the Central Railway?—(Laughter.)
Another PRoPRIEToR observed that on the last occa-
sion Mr. Mortimer had given a sort of promise that it'
elected he would withdraw from the Stock Exchange.
Would be now fulfil his promise?—(Hear, hear.)
Mr. BAKER, in the absence of Mr. Mortimer, would
explain the matter. A man might be a barrister and
yet withdraw from practice, and so in like manner a man
might retire from the purchase and sale of sharps, and
yet continue to be a member of the Stock Exchange.
Mr. Mortimer justly considered his membership a high
honour, and from that he would not retire, but he would
give up all business in shares.—(Hear.)
Sir RAYMOND JARVIS, who was on the list of =di.,
dates, retired.
Mr. HELPS thought the proprietors were bound, if
they did not wish to be disfranchised, to deal with the
third seat; but as he was in favour of a reduction in the
number of directors, be could not consistently offer him-
self as a candidate. If, however, the shareholders, in
order to assert their rights, chose to elect a third direc-
tor, he was perfectly willing to serve them, and, if
elected, he would serve them faithfully, and, if he pos-
sibly could, well.—(Hear, hear.) It was not his inten-
tion to oppose either Mr. Sergeant Gaselee or Mr.
Mortimer.—(Hear, hear.)
The CHAIRMAN—Then it is my duty to declare those
gentlemen duly elected.—(Cheers.)
Mr. Sergeant GASELEE, in returning thanks for the
honour which had been done him, alluded to the abuse,
he meant to say the opposition—(A, laugh)—he had re-
ceived from Mr. Tite, and from a certain periodical
which had attacked him week after week when ho was
abroad, and could not know of it. lie hoped the latter
would now take some other subject wile was not quite
so stale.—(Laughter.)
Mr. TITE expressed the high opinion ho entertained
for Mr. Sergeant Gaselee, although ho had often been
opposed to him. He was quite sure that the Learned
Sergeant, now that he was on the other side of the tatle,
would think the same as the board.—(Laughter.)
Mr. HELPS insinuated that the board were keeping
the third 'l.:at for some person they had in view.
the
The CHAIRMAN said they,were only keeping it fortest
shareholders. They had not at present t"
Igtbliem
idea of a candidate, and Mr. Helps' opinion 0
was not a very liberal one,—(Hear, hear.)mr. Sergeant
The meeting was made special, and s ratspd, took
Gaselee, in obedience to a call which wag mr.
his seat at the table amidst considera P'
first snareholders'
Helps demanded a cheer for " the
was responded to
f
member that ever set there,' but ithi. .
with cries of " Oh," and eonle , se' eeial meeting was
[The report prepared for the oP
taken as read.] e,, the meeting would give the.
The CHAIRMAN thouv., the meeting
thing, end
g anu that was
directors full credit for at least one ?
Ito their promise, not to do
for having faithfally tic+ • , ,
' directly wits respect to new works
anything directly or ve

without having their concurrence The question for
their ceeasideration on the preeent occasion was. the ex-
pediency of making a new line from Batingstoke terough
Salisbury to E
—xeti't; and when they were ttld that in
the district from Seiiebury to Exeter, which was 89
miles long, and in some pieces more than 53 wide, there
was no direct railway communication with London, they
would readily imagine the anxiety which was ;,-.lt by the
inhabitants as to the fate of the proposition. The popu-
lation was dal), decreasing, and the agriculturists were
suffering greatly for the want of such a communication,
so that they might well suppose that both the landed
proprietors end those engaged in trade and commerce
took the liveliest interest in the scheme. The company
had determined on a former occasion to adopt this very
line, which they all know was legitimately their own. It
was legitimately their own district, inasmuch as they
had obtained an Act of Parliament to make the rail-
way; but from adverse circumstances it had been post-
poned. In the first place they had to contend with the
absence of money, and a panic in the commercial world.
They had seen the first houses falling, and the most re-
spectable merchants ruined. They had also had a famine
in the country, plague and pestilence at home, and revo-
lution abroad—all of which had tended to render the
completion of the plan they had contemplated impos-
sible. The value of the scheme was proved by the steps
which had been taken by their competitors, who had a
whoiie
e tilready from London to Bristol and Exeter, and
had positively given their board power to take the
preliminaryeter steps to make a railway from Dorchester
to Ex
• When they reflected that the line they pro-
posed was 197 miles long, whereas the plan of this
company was only 171, they would no longer doubt
that the preference ought to be given to the central line.
—(Hear, hear.)
there would be no Again,ifthey
even took the coast line,
security for their traffic, because no
man would leave the centre of the country to go to the
coast, because he would h miles to4ireexalegersait kat
it. The population wourtherefore pass over to the
Great Western, line, and go north; so that, by that plan,
they would only have a largese er. m
of
money expended,
no cur.
and their property But it did not stop
here. If they would consent to be passive, they would
not only lose that which they might fairly expect to ob-
tain, but also that which theyalready had. And this
was the most powerful argument t that they could me.—
(Hear, hear.) The proposed railway, which would only
cost 1,100,0001, was precisely plan which was
to have cost 2,250,000/.—(Hear, theaheneaatatrh.e) Objection had
been made to the Mitcham line, ground that the
money was proposed to be spent through
outthe con-
the engineer. But there was a certaintyg theh agency of
tract system which would reduce theira liability to a
given amount. If they were to have the line formed for
1,100,000/., and if the South-Western were to work it
for 50 per cent., they would know what they were likely
to have to divide amongst the Shareholders.—(Hear,
hear.) Another great advantage which the proposed
scheme would confer on them would be the traffic which
it would bring upon their line to London. If the Dor-
chester line, which was 63 miles long, and produced
53,2701. a year, gave the main line 35,3251, the central
railway, producing 90,0001. a week, would give them
63,0001.—(Hear, hear.) In conclusion, he thought that
they could not have more favourable terms offered them,
and he trusted that they would encourage the directors
to make the line.—(Hear, hear.)
An Hon. PROPRIETOR would venture to suggest an
arrangement that might be less objectionable than that
contemplated by the directors; that the company should
make the line themselves, with their own money, and
that the landowners who were calling for it should gua-
rantee them a minimum interest of 3i per cent. on the
outlay.—(Great laughter.)
Mr. DICKENSON was surprised that this matter should
have been brought on at all at this meeting, seeing that
it had been so fully discussed on the last occasion. He
had the same amount of property exactly in the Great
Western which he had in the South-Western; and as his
interests were equally belanced, his opinion against this
proposed extension might be regarded as tolerably im-
partial. The Chairman had spoken as if the South-
Western was acting on the defensive in such an exten-
sion, but he (Mr. Dickenson) knew as a fact that the
Great Western had no desire whatever to engage in any
fresh line to roach Exeter.—(Hear, hear.) The question
for the proprietors in the South-Western was a very
simple one: Were they prepared to go into the forma-
tion of a new line upwards of 100 miles in length?—for
it was not merely from Salisbury to Exeter, but, in
fact, from Andover to Exeter.—(Hear, hear.) It was
great folly in the directors to rely upon a body
of landowners. No doubt they wanted the line, but
they wanted to make money by it; and from
what he (llr. Dickenson) knew of country gentlemen,
he was sure that the lords and squires in this case would
get the uttermost farthing they could for their land.—
(Hear.) If those lords and gentlemen wore in earnest,
they could go into the money market and get all; the
necessary money they wanted on their own responsie
kitty. But it was a very different thing to get the
South-Western into the speculation, pledged, too, to
work the line, and to hand to those individuals the first
profits, if profits there should be, of which be entertained
great doubts, for, of course, if thus challenged, the Great
Western would at once take up an opposition.—([hear,
hear.) Let the line be made by an independent com-
pany, and he would have no objection; rind then let the
two companies (Great Western and South-Western)
take their chance. What was the Sough- Western to do?
It would have to carry on the competition by lowering
the rate of fares from Exeter to London, and that would
lead to a reduction for all passengers on from Salisbury
and intermediately from Andover, for it would not do to
have different rates.—(ileac, hear.) As he saw% the
thing, this company was to be at all the risk, and was
nos to have the first benefit.—(Hear, hear.) He regarded
the calculation of the directors that he work could be
done for 1,100,000/. as a chimera; for there never was a
railway contract yet which had not been exceeded.—
(Hear, hear.) He would oppose the project to the last,
and even to Parliament.
The CgAiRMIN reminded Mr. Dickenson that the
contractors were of undoubted rospontibility and repu-
tation; and there would be, therefore, this enormous
advantage about the undertaking—that the company
would know exactly its liabilities.
Mr. EAGLESFIELD (of Bristol) had no shares in the
Great Western. but he utterly disapproved of this ex-
tension. He did not see how they were to raise the
capital. The landowners were to be the class A; and ti l o
it
there was to be a class B the South-Western woulduld hi vef
.
to give a second set of guarantees, or they wo,
course, never get rid of the ,hares. Again, whilethe
line wits being made, interest would have to be paid
on
the capital b ATowed; and that interest would be so
much deducted from the dividend of the proprietary of
the Smith-Westrrn.—(flenr, heat'.) Ho wanted the
South-Western to stick to what they had got, and to
make the most of that. The property had been damaged
greatly by these proposals cf the directors.— (Hear.)
The CHAIRMAN put the hen. proprietor right as to the
payment of interest. Hilt the capital would be raised by
the district; and there could be DO interest payable du-
hear.
rine the construction of the line.—(litt, )
Mr. HPCR.OFT prophesied that this extensioo would
lead to a now battle of the gauges.—(Hear, hear.)
Captain Mooßsom delivered a long lecture, which he
demonstrated secundum artem upon a map pinned tie to
the window-blind, upon the coast scheme which he
brought forward last year. He concluded by proposing
a resolution to the effect that the directors be rt quested
to make arrangements with the promoters of the coast
line, by which, under certain restrictions, they might, at
an outlay not exceeding 200,0001., secure a continuous
line from Dorchester to Exeter.
A confused discussion taking place here, several pro-
e
prietors asked, " What is the question?" and it we
un-
expectedly found that no question had been put from the
board, and that consequently Captain Moors°
propo-
sition was to be regarded strictly as a substantive motion.
motcon.
Mr. HARDING, the secretary, was called on by the
Chairman to read the resolutions prepared by
direc-
tors. They were as follows: the "
That the directors be authorised and requested to con-
clude an arrangement with the
from Extension Salisbury to Exeter,
upon the basis of the terms mentioned in the report thiste
day submitted to the general meeting norther
proprietors, and to take and
parties in taking, all tuck measn'or
7sonacs airn witheir 3510200
may be necessary for bringing the central line
Parliament in the ensuing session."
"That with
the directors be also authorised to concur
line
before
a
iity other parties in promoting the formation
°tale; .A
fromx-
Bridport to join the proposed central
minster, to the extent of a subscription
not exceeding 50,0001." by
itirs comPanY
the day of Sep-
tember" That
a meeting be summoned for t
tse
of receivintar
next, at one o'clock, for tbee p. rP"
diureo tors on the ar-
and considering a report from isheey capital to be con-
rangements for raising the necaerbd3 the before-mentioned
tributed by this comptay t.asvii such steps in relation
lines, and for authorisiegn west generally, as may
thereto, or to extensionssaibuyta
,ad„711001 then formally put, and dis-
be considered meet
The first resatatLe-
cussion was takenp:ld
telt angry attack on the policy
Mr. Epw^luDsirectors, and concluded by suggesting
pursued byitalt
Moo °m should modify his proposal into
that Cap the Eh, appointment of a committee of 24 to in-
a motion for,b, whole subject of the western extension.
vesetiagpatatla. Moonsom could not adopt that suggestion. A
;too had already sat, and had reported in fevonr
comm.-extension; and he thought they couldn't go
on
foofrtohveer with committees while en enemy was at their
very doors.
Mr. HADLEY alto spoke against the proposed lice as
objectionable in every particular.
Mr. HERAPATII spoke to the same effect. He could
find no reliable data for the statements of the report. If
they went into this mad scheme they could only expt.c' .
to involve themselves in interminable hostilities with.' the
Great Western and the Bristol and Exeter.—(ll-., \—
Mr. LOCKE good in a peculier position in regard to
-""
the South-Western Convene, on i his ciutw on
desired to offer a few explatietioes. The.
re, and he
doubt that the landowners in the district would' bweabsennee-
fited by and had an interest in the contemplated
shm, and he confessed candidly for his pwrtDa t exten"
sing as he did landed property in that diiecrdenpostsheasi
he looked mainly to his cwn interest in this' mat-
ter.—(Great 'laughter.)
he p
hoed he Having— made this admis-
sion,would for the future
, escape those accusations as to motives which were too