The Sun.
London, England, 1864-11-30 00:00:00

Railway and other Companies.

CALCUTTA AND SOUTH EASTERN.

The half yearly meeting of this company was
held yesterday at the office, Gresham-house, Old
Bror.d.street ; Mr J. Borradaile in the chair.

The report stated that the passenger traffic had
risen from 110,190 to 183,321 passengers, being an
increase of nearly 60 per cent. on the half year end-
ing the 30th of June, 1863; but this:augmentation
belonged almost excluSively to the first ten miles
out of Calcutta. An experiment had been commenced
with the approval of the Government, to establish
four classes of passengers, the fares of the third being
50 per cent. in advance of the fourth class; and there
was every appearance of its being appreciated by
the middling class of the native population and con•
ducing to the interest of the company. The number
of passengers carried per mile during the past six
months was 6,547, being more than on any other
railway in India, The vast local produce of the
eastern districts, now conveyed by water, would
gradually be attracted to Canning Town, and thus
render it, as anticipated by Mr Beadon, the present
Leutenant-Governor of Bengal, "the emporium of
the trade of Eastern Bengal." The increase in the
number of passengers was 73,131, as compared with
the corresponding half of 1863, of which 40,378
were third class, 15,256 fourth class, and 5,808 se-
cond class. For the half year ending the 30th of
Juno the mileage open averaged 28 miles, the
receipts for passengers amounted to £2,712, for
goods and minerals to £1,353, total, £4,065, against
an average of 181 miles open in the corresponding
half of 1863, the receipts for passengers being
£1,704, and for goods and minerals £93, total,
£1,797, showing an increase of £2,268. The working
expenses for the half year amounted to £5,352, or
131.668 per cent. of the receipts, against £1,859, or
103.48 per cent., for corresponding period last year.
The sum expended on capital account during the
half year was limited to £10,770, and the debit
against reveeeko had been necessarily augmented.
The leading object of the line was to provide for the
relief of the crowded port of Calcutta by establishing
a new port at Mutlah and connecting it with the
metropolis by a railway. It was with this view that
the Gcvernment of India originally projected the
undertaking, and that the successive Governors of
Bengal had watched over and stimulated its pro-
gress. And it was in dependence on the completion
of its plan that the directors had from time to time
rested their chief expectations regarding the prose
perity of the line. The plan of establishing a port at
the Mutlah was originally urged on the Government
of India by the Calcutta Chamber of Commerce, and
Lord Dalhousie, on receipt of their memorial, lost
no time in ordering a survey of the river, and direc-
ting Colonel Baker to examine the country between
Calcutta and the head of the Mutlah. The report on
the river proved very satisfactory, and Col. Baker
recommended a railway, which he estimated would
cost £556,494. Lord Dalhousie then recorded a
minute in favour of the scheme, stating that he had
taken the precaution of purchasing for Government
a large estate, with the view of establishing a new
port and town on the banks of that river. The peen.
niary interests of the State to the extent of £25,000
a year for interest on the capital expended by the
company under a guarantee of 5 per cent. per annum
on the outlay were bound up with the success of the
undertaking. It was the necessity of establishing an
auxiliary por: on the Mutlah which led to the conk
struction of the railway. But to establish the port
and thus secure an influx of population, and the erec•
tion of warehouses and other commercial facilities, it
was necessary that the site should be drained, roads
cinstructed, and the river frontage secured by em-
bankments. With a view to obtain funds for those
public works the Government of Bengal, about
13 months ago, appointed a body of municipal com-
missioners at Canning Town, and made over to
them the fee simple of the land in and around it,
with instructions to invite public subscriptions to a
loan by debentures on this security. The deben-
tures were offered to the public at the close of last
yEar to the extent of £lOO,OOO, but without success.
The municipal commissioners then applied to Go.
vernment fir an advance of £45,000 on the deben-
tures, to enable them to proceed with those works
during the cold season, and thus avoid the loss of
another twelve months. They stated at the same
time the ultimate requirements of the port might be
found to extend to £200,000. In reply the Govern-
ment announced their willingness to advance
£45,000, but on the condition that the sum of
£155,000 should have been previously subTribed
and plid by the public. This stipulation necessarily
involved the failure of the proposal; but as the
shipping of Calcutta, which was only 385,000 tons
a year when the foresight of Lord Dalhousie pro-
jected this auxiliary port for its relief, had now
increased to 700,000 tons, the directors indulged in
the hope that the Supreme Government would be
induced to reconsider their decision and make
adequate provision for completing the work they
had begun. The property of the company had
suffered no material injury from the cc clone which
spread desolation through Lower Bengal on the
sth of October last. The capital account showed
that £437,835 had been expended, leaving a
balance of £9,072.

The CHAIRMAN, in moving the adoption of the
report, entered into an explanation of matters con-
nected with the necessity of effectually establishing
Canning-town at the Mutlah terminus of the rail-
way. He stated that at least two-thirds of the
present receipts were derived from the first
ten miles, or one-third of the railway, and this
accounted for the deficiency in the receipts and
the excess in the cost of working the traffic. It
was on the through traffic between Calcutta and
the Mutlah that they depended for a remune•
native return. The supineness of the Government
in this matter was perfectly unintelligible to him,
as they had to pay the company £25,000 a year for
the interest of the money expended. The great
advantages of the Mutlah as a port were well known
and if it had been brought into operation before the
late cyclone occurred the destruction of shipping
would have been very much less than it was fcom
the crowding of ships in the Hooghly.
Mr MARSHMAN seconded the motion for the adop.
tion of the report.

Sir M. IVELLs fully concurred in the importance
of establishing Canning-town with proper facilities
for trade. The exertions of some of the most able
men in India were being continually frustrated by
the home authorities, and ho thought the time had
arrived when the great body of shareholders mud
take an interest in their affairs, aid express their
opinion in respect of those matters. lie recorn.
mended the opening of the line on Sunday, whlch
was the only day et native population of 700,000
had for recreation. lie was sure it would add
largely to the receipts of the company.
The CHAIRMAN said the reason the railway was
closed on Sunday was because their agent thought
it would not pay to run trains on that day.
Mr MARSUMAN said that on the East Indian line
a train ran both ways on Sunday.
Sir M. WELLS thought it worth whale to try the
experiment of Sunday traffic on their line. He
strongly advocated the necessity of providing pro-
per third class accommodation at all the stations for
their great customers, the native population. Cheap
sheds to protect the poor natives from the weather,
and some cooking places would be quite sufficient
for the purpose, lie concluded by moving the fol-
lowing resolution :

" That, in reference to the statements contained
in the report, the shareholders request the direc•
tars to lose no time in addressing the Secretary of
State for India in Council, representing the urgent
necessity of the aid of the Government for the ess
tablishment of the port of Mutlah, in the hope that
the Frupreme Government may be induced to reeon•
sider their decision and make adequate provision
for completing the work they have begun."
Mr L. BROWNE seconded the motion.

Mr MARSIIMAN quit° agreed-in the necessity for
providing suitable accommodation at the railway
stations for the third-class passengers, and he was
glad to say that a general order to that effect had
been issued by the Government to the managers of
all the Indian railways in August last, and no doubt
it would b 3 carried out as soon as possible.
Mr ADAMS considered that the working expenses
were a great deal too high, as they amounted to 5s