The Sun.
London, England, 1852-07-31 00:00:00

CI?ICKE7.

I AnilOW INCITES; ER7ITh is match was resumed
yesterday at Lord's, and was finished at three o'clock In
favour of Winchester by 68 runs.
HARROW V. ETON.—This match was commenced
immediately after the termination of Harrow and Win-
chester.

A PREFERENCE.—The Order of Redemptionists
have shown their gratitude to the Earl of Aberdeen by pur-
chasing his Lordship's family mansion in Argyle-street and
the grounds behind it for the sum of 21,000/.
A T A few days since, at the
celebrationi KoEil s
fo'urTna°tAiosnT—a.lanniversary, a poor tinker, who
was present, being called upon fora toast, offered the fol-
lowing :...-,, Here is a health to poverty ; it sticks to a uin
all his friends desert him."-- n
when Anorican ,Paper.

I I e
They
together el
wereher
highly
hihi
iengttaebhhbdaeal
RAILWAY INTELLIGENCE.
The neijourned specNia? NORFOLK.
'of this company was
held yesterday at the office, Guildhall-buildings, to con-
sider the expediency of creating debenture or preference
shares under the provisions of the Act recently(passed;
Mr. S. M. Pete, M.P., in the chair.
I abnexenietcya.
The CHAIRMAN said the subject for which they had
te,
rpaoanohmld.
ens
esotc
euttodhoome
preference
committee,
members
ote.ceoof neacrclaut
itsoonei
rogf
association
hout iichervn debenture
ntewi
committeeifirboheitstneaohetdrseowoetrfsti
idchhioi
inirmnntnehsgcrtuet.ha
accordance
tectrdaosihtormi
drae
co
dopg ran
atmt
wasoane
with the provisions of the Act lately passed, to h
r covering the amount of the present
i debenture nlit
edebt.
be
of the company, and to snot much shares n proportion to
the holdings of the old stock of the company. The
stackpermitted holders of the new 00/. are td by the Act to
trite 8,707 of those share Thiss
would give about 40 per cent„
Iso"d4. aliresar to
every holder of 100/. of the 0:d stock of the comoaan3.lt
was the opinion or Mr. Cheprnan and other
ge‘titic.in en
that melt a Ineu,are Would ,ffect a saving*
of I
car
cent.
upon the debenture debt, whieh would amount to 5,000 i.
per annum, Nad confer a boot fit on the holders of the
o!,i stock. The Lowestoft 4 per cent, stock, which ranks
after the debenture studs, was at a pretnium, and there
emit' be no doubt that the 4 per esnt. debenture stock
would be at a premium. With refetenee to the general
prospect 3 of the company, he might be allowed to state
that the traffic returns show a moat gratifying increase
of receipts doting the present year, as compared with
the corrN;poEdiug period of the preceding year, when
they had the benefit of what may be called the Exhibition
tratfia. There was every prospect thht the traffic would
continue to increase. The exertions that had been made
at their outports in connexion with steam navigation had
contributed in no small degree to this result. In the year
1849 there were imported into this country 185,378
head of cattle; in 1850, 217,243; and in 1851, 303,976.
The proprietors would feel that the effort on the
part of directors and some large shareholders, who
felt it their duty to start in connexion with this com-
pany steam-vessels from Lowestoft, had been directed in
the right course, and that it would greatly contribute
to the benefit and welfare of the Norfolk company in
securing a fair proportion of the traffic. They began
with one vessel in 1849, they added another in 1850,
and they added a third in 1851, and their trade at
Lowestoft was now so large that they were not able to
accommodate it all, although they had three vessels of
700 tons burden each constantly at work. He hoped
that the large accommodation which was now being
woeulw satisfied that this movement by some
world give
give an impetus to the traffic of the
prodded
the
loivd
widayel. Hargest shareholders, and by other companies on
the eastern coast, to extend the system of steam naviga-
tion to the north of Europe in connexionlwith that impor-
tanteosueghl
results. booking,
would be at-
tended They all knew
that his friend Mr. Roney had carried out that system
t eedlewmietnbttobfeme traffic,st iu
in connexion with the Irish traffic, whereby passengers
su through
and goods may he boooked from England to any
part of Ireland, and it was their intention to do the same
thing, through Mr. Roney's agency, by means of the
Norfolk, the Manchester, Sheffield, and Lincolnshire,
the Midland, and the London and North-Western Rail-
way companies, to bock through from any part of Eng-
land to any part of the north of Europe. He hoped they
would excuse his mentioning the subject by way of pa-
renthesis, as it was one which very much engrossed the
attention of the directors. During the last six weeks
the directors have paid off every overdue debenture.
They had given notice to the holders of 112,0001. deben-
tures that
they would be prepared to pay them off in SiZ
months' time, and further, the directors had provided,
upon their own security, the sum of 125,0001. to pay off
the remainder;
so
that
debenture neywould be in a position to
holders who wish to be paid
off. In economising their debenturet debt in that way,
they would place the capital ofb
basis, and they would, besides, hanve sufficientenmpany on a solid
meet every obligation of the company, money to
moving a resolution to the effectthtso lie concluded by
shares, of 101. each, to be entitled h Norfolk Railway
k Railway
Debenture Shares," be created for the purpose
ing off the mortgages granted by the company, of
thepay
dividend to be fixed at 4 per cent. per annum, tohepaid
in preference to any dividend upon the existing pre-
ference and guaranteed shares of the company, as pro-
vided by ths Act."
Mr. TITE seconded the motion.
A PROPRIETOR said, it appeared to him that the de.
benture debt of the company had been increased to the
extent of 34,0001. since February lest.
The CHAIRMAN was happy to say that the increase
alluded to would not increase the annual charge on
the company. They might recollect there was a rent-
charge of 1,0001. a year for the Lowestoft Harbour,
and that by the Act they were bound, within,lo years
of its passing, to exercise the option of taking it
at 25 years' purchase, cr at 4 per cent. The
company had purchased it by giving a debenture for
25,0001. at 4 per cent., and this was part of the increase
in the debentures. With reference to other matters,
the dirccors thought it wise to take a certain margin,
and they created debentures and placed them in the
hands of Mr. Glyn, in the names of three trustees, to
meet any claims that might come against the company,
for they had no power to increase the capital atter the
4 per cent. stock was issued.
Major COURT said it appeared to him that the direc-
tors had crew.ed a lamer amount of debentures than they
were ;alit hot iced to do by Act of Parliament.
The CHAIRMAN stated, in reply, that they were
24,0001, within the amount they were authorised to raise
upsu debentures, a fact which the Hon. Proprietor
should have every opportunity of satisfying himself upon
it he would call at the office. _ _ _

The resolution was then unanimcmly adopted.
Resolutions were also passed, fixing the deposit at 2/.
per share, and the two first instalments et 11. each, the
succeeding instalments not to exccel 2/- each, with in-
tervals of three months between each call; empowering
the directors to agree with any proprietor who may be
desirous of paying up his shares in full; and authorising
8,707 of the said shares to be offered to the holders of
new 201. shares according to the provisions of the Act,
rateably according to their holdings, and any shares not
taken up to be disposed of by the directors for the bene-
fit of the company.
on the motion of Mr. TrrE, a cordial vote of thanks
was passed to the chairman and directors„ and the meet-
ing separated.