The Sun.
London, England, 1852-08-28 00:00:00

THE SUN,

RAILWAY INTELLIGENCE,
NORFOLK.

The half-yearly meeting of this company was held
yesterday at the offices, Guildhall-buildings, Mr. S.
M. Peto, M.P., in the chair.
The Secretary read the report, which stated that
the traffic during the past half-year amounted to
56,9941., being an increase of 3,716/. over that of the
corresponding period of 1851. The working ex-
penses charged by the Eastern Counties Company are
33,1071., equal to about 58 per cent. of the receipts.
The directors express their regret that a course so
unsatisfactory should still be persevered in, as all par-
ties are aware that the sum so charged affords no
criterion of the actual cost of working the Norfolk
lines. The traffic continues to improve, and the trade
with the north of Europe through Lowestoft is
making rapid advance. Three steamers, of 700 tons
each, are now employed in that trade, and it is in
contemplation to increase that number. The Eastern
Counties Company having declared a dividend at the
rate of 45. per share on the shares of that company,
the proprietors of the consolidated stock of this com-
pany will be entitled, in accordance with the existing
agreement, to a dividend at the rate of It. per cent.
upon the half-year, and the proprietors of the new
25/. shares to a dividend of 3s. per share. The agree-
ment for working the Halesworth and Beccles Rail
way involves no pecuniary outlay or responsibility
upon the Norfolk Company', and, as it is likely to
greatly improve the traffic upon theirline, the direc-
tors have no hesitation in recommending its adoption
by the proprietors. An abstract of the accounts has
already appeared in The Sip.
The CHAIRMAN, in moving the adoption of the re-
port, said he had never met the proprietors during
the short time he had occupied the chair with so much
satisfaction as he did on that occasion. Ile congratu-
lated them on the Bill having passed for consolidating
the capital of the company, and by the substitution of
a 4 per cent. preference stock for the debentures of
the company they would save about 5,0001. a-year, or
equal to 10g.
and petrhucsepnita.coenthteheproerfdeirneanrtyiacl asphiatraelhoofldtehres
companY,
in a better position. The debenture stock was being
taken to the extent required, so that they might consi-
ydeerartht
ha
et operationre was
an i
a s
ncrcomplete.increase
in their receipts During lastto
h atlhfe
with
-
amount of 3,7001. as compared the corresponding
the
period of 1851. From the 4th of July to the present
time that increase had proceeded in a still larger
ratio, amounting to more than 12i per cent. gross in-
crease. They might on the present occasion consider
that
practically their capital account was closed. There
was no liability, excepting 5,0001. to be paid to the
proprietors of the Waveney Valley, which sum was
I.Yingat Glyn's, in the name of three trustees, to be paid
over to that company as soon as they were in a posi-
tion to give them a legal discharge for the amount.
Ile then referred to the establishment of steam com-
munication with the north of Europe. That arrange-
ment was proceeding most satisfactorily. The three
ships now running from Lowestoft were bringing on
every occasion full freights, and such was the demand
for accommodation that they would shortly be obliged
to place a fourth steamer on that station. He bad
concluded with the Danish Government a concession
for a series of railways, which he believed would be
in importance second to none in Europe, and which
must be productive of the largest results to their
railway, and the Eastern Counties' system of railways
generally. One of these lines placed the port of Ton-
Ding, to which vessels during the whole winter, when
the Elbe is closed, have access at all times, within two
hours of Hamburgh, bringing the latter place within
35 hours of London at all times, and connecting also
the port of Flensburg with 'forming (taking one hour
between the two places), and giving the company ac-
cess to the whole of the Baltic, by which they would
be able to take the whole of their goods to Tonning
and transmit them to Flensburgb, whence, as all who
were acquainted with the traffic of the north of Europe
knew, small steamers were constantly running to
every part of the Baltic. They would see that the
company would command the entrepat of the Baltic,
and have practically in their own hands the greater
part of that trade. By this concession the company
were saved the Sound dues of 12s. per ton upon goods
taken to the Baltic. This would leave a large margin
to cover the expenses of transhipment, and a large re-
sult must flow from this source of traffic. The next
thing he would congratulate them upon was the
thoroughgoing amity with which they were working
with the Eastern Counties Company ; and although
their relations with that company might not in all
respects be satisfactory as to the future, yet the policy
of the board had always been one of amity. They
desired nothing but what was fair and right ; at the
same time, they were serving the interests of the com-
pany when they pursued a peaceful course of policy,
and finding, as they did, the directors of that com-
pany were not only bent upon exercising the utmost
economy, but were developing the resources of the
district in a manner highly satisfactory to the direc-
tors, be could not but believe that when they, with
the assistance of some of the largest proprietors of the
company, discussed the question of their future rela-
tions with the Eastern Counties they would be satis-
factorily adjusted.
Major TYNDALE seconded the re3olution, which
wee put and carried unanimously.
A dividend at the rate of 1/. per cent. for the ha

year was declared on the consolidated stock of the
company, and of 33. per shire on the new 201. shares.
The meeting was then made special, for the pur-
pose of considering, and if approved of, confirming
an agreement fur working the Halesworth and &c.
cies Railway.
The CHAIRMAN explained that the new line would
branch from the Lowestokßall way, and pass through
Beetles to Halesworth, a distance of about 15 miles.
The Earl of Stradbroke and other gentlemen locally
interested promoted the line, and it was at their so-
licitation, and to promote the interests of the Norfolk
Company, that he (the chairman) bad taken the active
part he had in promoting the construction of the line.
its agricultural value. He
ultural
It was to ba constructed on a new principle, by
parties who were locally interested, the land being
sold to the company
.at
thought that the main line, which would receive
an accession of traffic, was bound to give the new
line a certain amount of the traffic it would
derive from the connexion ; and that such an
arrangement should be entered into as would b 3
equitable to all parties. They had ascertained that
there would be a good traffic on the line, which would
be ample to remunerate the company for the outlay.
Every care would be taken to make it a model
branch line, and be had no doubt several lines would
be constructed in other districts on the same prin-
ciple, the parties locally interested finding the funds.
Mr. MACLAURIN estimated that the line would
cost 11,0001. per mile
without working stock, and
therefore he did not think it could be called a cheap
line, particularly when it was considered that the line
from Newmarket to Bury St. Edmunds, about four-
teen miles' length, would ba constructed for 100,0001.,
being at the rate of 7,0001. per mile, including
everything. He wished to know whether any con-
tract had been entered into for the construction of the
line ?

The CHAIRMAN—No contract had been entered
into for the works, and it was not the intention of
the promoters of the line to enter into any contract
ior its construction until the whole of the land from
one end to the other was settled for. They fully ex-
pectede to line, includingland and
construct the
_verythi
C Ornpanng, for about 6,000/. per mile. The Norfolk
by 5:111‘vould receive a benefit from its construc-
tion
ponalitepende n t company without incurring
any res
interests if they
BAesiwritY•m
pr/prledt not sanction the agreement. He
said they must be blind to their own
thought the
deeply indebted to 11.5 of the Norfolk Company were
their hairman, tor the
p
Mr. MACLAURIN was rfitter.
great interest ho had taken et°,
n th ma
ectly satisfied with the es-
planation given by the Chairman.
The resolution approving of the re
'
a
put and carried. ement vas then
A vote of thanks was passed to the Chai
directors for their able management, rman and
The CHAIRMAN, in acknowledging the compliment
said he had received an intimation from Major liment,
that he was now perfectly satisfied with theaeec?eurt
so that he (the Chairman) might congriguiate Inetrus,
on having an unanimous proprietary.

of this company was held
AMBERGATE, NOTTINGHAM,. AND BOSTON
The half-yearly meeting
yesterday. at Grantham, being removed from Not.
tingham to allow the distant shareholders to avail
themselves of the Great Northern route, the Midland
being the one hitherto used ; Mr. Norton in the
chair.

The Secretary read the report.
porTt,hereCnallaArikitemd ItNh'aitnoffmeorsvionfg
Western and
mutually exchanged between the Great
.
London and North-Western Companies, of the re-
but at been
amalgamationth the adoption
d the chair.
sent without leading to any result ;an had been
mmaindiaonfdtbceoGmrpeaantyN, hadoarltshoerfnoran
amalgamation
an offer
o to
f he
in-
terests. This proved that though these great
_com-
panies had such an unlimited command of capital,
talent, and ability, in the management of their in-
terests, they still had difficulties in developing their
traffic for the profit of their shareholders and the ac.
e.onamodation of the public. It need be no matter
I_o,roaurprise, then, if this company had difficulties
h;coloos.ln2ddelry.sy,
othhfeeotfhbajelercatuodf Parliament in sanctioning the
,""men of railways must have been, in the first
place, ,the accommodation of the public , and, se-
re .
reasonable rewaTrdheofdtibreectsohrasreof
gate3ceVeral companies.
the Amber
gate would do their best to re-
move the difficulties and heal the differences which
at present prevented their shareholders from obtain-
ing the ample return for their capital which they
had a right to expect.—
pinlsguse.) The traffic of
the line had been int)
opened, gnd though some 0
it
hesaverrescinencetlyitbweeans