The Sun.
London, England, 1852-03-19 00:00:00

THE AUSTRALIAN COLONIES

AND TRANSPORTATION.

A large dnee:etion of mercantile and other gentlemen
connected with the Australian colonies had an interview
with the Right Hon. Sir J. Pakington on Wednesday, at
the Colouial-effiee, on the subject of transpertation.
There were present—Sir W. Molesworth, M P., Mr.
Ewart, M.P. Mr. Adderley, M.P., and Mr. Cnisholm
Anstey, M.P.;; and the following gentlemen, represen-
ting the tour colonies of New South Wales, Van Die-
men's Land, Victoria, and South Australia:—Messrs. R.
Brooks, C. McLachlan, E. Gore, W. Jackson, S. Ken-
nard, G. H. Donaldson, W. Fanning, A. Michie, W.
Walker, J. A. Jackson, T. S. Atkins, J. C. King, G.
Morphett—Bolton, and James Alexander.
Sir W. MOLESWORTH, after introducing the gentle-
men present, observed that they sought this interview in
consequence of having heard that several ships containing
convicts were about to sail for Hobart Town, and they
would intreat Sir J. Pakington to stop the sailing of
these vessels, and net to transport any more convicts '
to Van Diemen's Land in opposition to the wishes
of the inhabitants of that and the other Australian
colonies, and in violation of the promise of the
British Government that transportation to Van Die-
men's Land should be abolished. Sir William then
referred to the particulars of that promise, the dis-
content its non-fulfilment had produced. and the nume-
rous petitions received during the last five years from
the bishop, archdeacons, clergy of all denominations, pa-
rents and guardians, women, and, in short, the vast ma-
jority of the inhabitants. All the other colonies sympa-
thised with Van Diemen's Land; and they also knew
that, in censequence of the overstocking of Van Diemen's
Land with convicts, transportation to that colony was, in
fact, transporation to all the colonies. A great Austra-
lasian League had been formed, and was supported by
leading men in all the colonies. Large meetings had
been held, not only in Van Diemen's Land, but in Syd-
ney, Paramatta, Melbourne, Geelong, and Adelaide, at
which resolutions complaining of the breach of faith of
the British Government were carried by acclamation.
From one of these meetings ho (Sir William) had this
year presented a petition to the House of Commons,
signed by the Metropolitan Bishop of Sydney, the
Roman Catholic Archbishop of Sydney, and by 8,9001
persons. He had another petition, us numerously
signed, still to present. On the 29th July last a large
public meeting had been held at Sydney, and an
address to her Majesty was agreed to, praying the
dismissal of the Secretary of State for the
Colonies in consequence of his continuing to
send convicts to Van Diemen's Land. Since then the Le-
gislature of New South Wales had unanimously passed
a resolution against transportation to any of the Austra-
lian colonies. He was informed that all the members
elected to serve under the new constitution for Van Die-
men's Land were pledged to oppose transportation.
Lastly, the few respectable persons who were in favour
of the convict system had become anti-transportationists
in consequence of the gold discoveries, for they consi-
dered it madness to send convicts to an El Dorado, and
one of the surest means of encouraging crime. Me as-
sured Sir J. Pakington that the Australian colonies
were on the eve ot becoming potent States; their inlas
eitaats were inclined to be thoroughly attached and de-
votedly loyal to the British Empire. They would long
entertain those feelings if wisely and prudently governed;
but the continuation of transportation would soon
destroy those feelings of attachment and loyalty.
Mr. EWART begged to remind Sir J. Pakington that
he (Mr. Ewart) had attended at the Colonial-office
with a highly respectable deputation of colonists, on
this very subject, as far back as the year 1846, when
they had the honour of urging on the then Secre-
tary of State a consideration of the fearful condition ot
Van Diemen's Land, in conseqaence of the excess of the
convict population there. Ttiat deputation he believed,
had induced the then Government to suspend for two
years further transportation to that colony—a measure
which was generally considered to be merely prelimi-
nary to the total discontinuance of the system. The
time, therefore, had now arrived when the subject
should be definitively settled to the satisfaction of the
colonists—a result which he regretted to say had been
by far too long delayed.
Mr. ADDERLEY followed, urging on the Secretary of
State: the paramount importance of the Government
keeping faith with the colonists, and vindicating its
own credit by acting up to the promise which had been
made to them by Lord Grey that transportation should
be discon,inued. That it would not be honest to neg-
lect to do so. He referred to the great and universal
excitement among the colonists upon the subject, and to
the extensive organisation by means of " the Australa-
sian League." He urged the policy of at once aban-
doning a course as unstatesmanlike as it would prove
abortive, and further perseveracce in which would only
exasperate the Australian colonies, and eventually lead
to an organised resistance, similar to that which had
been successfully carried out by the colonists of the
Cape ; and he expressed his firm belief that if the Bri-
tish Government suffered one other such defeat as had
been sustained in the case of that colony, it would go
far to destroy our colonial empire. In his opinion it
was a consideration that transcended all others, and
compared with which all suggestions of possible embar-
rassment or inconvenience to Governments sank into ab-
solute insignificance—that this great country should up-
hold its character by honestly and faithfully keeping all
its engagements with every one of its dependencies.
Mr. ANSTEY had also participated in the movement
referred to by Mr. Ewart in 1846, and had hoped for a
successful result long before this. He had every motive
to induce him to co-operate on such an occasion, as he
had immediate family connexions in two of the colonies.
His brother had lately contested successfully the repre-
sentation of an important constituency in Van Diemen's
Land, and corroborated the statements of Sir W. Moles-
worth. He had last year presented a petition to the
House of Commons of a very interesting character from
the native born colonists of the island, and it would here-
after be his duty to draw the attention of the Rouse to
the important statements it contained. He forcibly
urged the claims of the colony on the immediate atten-
tion of her Majesty's Government; and observed, that
if the active agitation hitherto carried on against trans-
portation in Van Diemen's Land had of late abated, it
was because the recent geld discoveries in the adjacent
colony of Port Philip had led to the belief that it would
be weeny impossible to continue it any longer in face of
such an event.

inapplicable to political ques-
tions, The majority of mankind think the right
judgPmeOntLeilthTerlCwAhoLlly FORBEAR A Nbce
of private
Eamthoastt
ale
al art etcoo uhracvee.
in natural
- guided,
oeo ourrsoen,lythteorebeicsalaledspinectoieesxoefrcwisheaatspmay
called animal comfort in leaning on some vederable junta
or some disdaguished nor. Ilappy th,t man who
at
this present crisis can pin his faith on a superior mind or
roenselsecwtaobrlke
scelitqounee,,whether it be that of Russell, or
of Derby, or that of Cobden, or that of some other
and healthy proportions, and, poli-
tician leading or seeking a party. It is
explained, and, and, when one wakes up, to
drink, and sleep
be told what to do. It saves a world of anxiety to tall
into line, and to know that one's conduct will be
competent
authority. When the guise of loyalty is thrown over
it necessary, defended, by
this mental subserviency, the satisfaction and the il-
lusion are complete. It is very true that they who
resign the pains of independence may occasionally
be disturbed with a disagreeable presentiment. They
may find themselves approaching a rock, a shoat,
or an abyss, without seeing bow they are to
escape ;
and the alarms of those who don't think
for themselves are not always imaginary. As they
say, however, that brute creatures cannot suffer any-
thing like human anguish because their anticipations
are momentary, faint, and without the sense of respon-
sibility, we presume that the sufferings of a thorough
partisan must be tempered to his moderate capacity of
endurance. But all this time we are expatiating on a
happiness which can never be ours. Though we can
admire our beknowledged statesmen, of whatever school,
and even our great political chiefs, yet we can never
reel it our vocation to adhere without reserve to any one
Government, however feeble, however intractable, or
perverse. The British people does not; neither do we.
Much is due to a meritorious party, but still more is
due to the country, and there must and do arise occa-
sions when a blind affection to party is little less than
an abnegation of patriotism. Should matters come to
that pass that no one party will suffer for one day the
ascendancy of another, even under the humblest and
safest conditions, it is evident that we are far on our
road, if not to anarchy and ruin, at least to serious neg-
lects and disasters. If public opinion and its organs are
worth anything in this country, and if they have any
province at all, it surely is for them to inculcate such a
mutual forbearance of parties as shall at least avert a
disruption of society and a consequent shipwreck of the
State.

Such is the position of affairs, such the 'danger, and
such we conceive to be our duty at this juncture. As
long as the Russell Administration was possible, we
gave it our support; and, were it possible to-morrow,
we should spare no pains to restore it. Could its
strength be renewed by new men or new measures, with
the hope of something more than a temporary relief or
an illusive popularity, we should, as we have done be-
fore, do all in our power to give it a fresh term of ex-
istence. But paintul and repeated experience leaves no
doubt that it answers no good purpose whatever—not
even a factious purpose—to attempt the resuscitation of
an effete Cabinet. You may as easily make an old man
young again as impart a second youth to a Government
which has exhausted its strength, its opportunities, its
friendships, its measures, its ideas, its prestige without,
and its resources within. The infusion of new
blood
and the substitution of new limbs are metaphors which
only express too aptly the utter impossibility of those
fancied remedies. We can never conceive it our duty
to give impracticable and useless advice, after the
manner of the doctor who thinks only of his bill or his
fee. Others may, if they please, roll bread into pills, or
label vials of coloured water with cabalistic terms, but
we really cannot afford to practise delusions which time
must discover. We cannot honestly recommend the
British public to go back to the old thing. We cannot
tell them that what was dead last month will be alive
next; or that the palsied Tithonus will enter at our
summons a Hyperion or a Hyacinth. As little can we
connive at the supposition that the great forms of this
majestic Constitution, including the venerable palladium
of Royalty, are to be invoked for the establishment of a
new Administration, merely as a dodge for the imme-
diate re-establishment of the old one on a safer footing.
We might excuse tricks upon party, for, as our new
rulers have not been very nice in their warfare upon
others, they deserve little favour in return; but we must
protest against tricks on the Constitution and on the
Crown.
But let us not be mistaken. Forbearance, fair play,
toleration, are one thing; confidence, sympathy, enthu-
siasm, are another. It Is true that we are not going to
show the new Ministers the door the moment after they
have been invited to enter. It is true that we do not
think statesmen should disgrace themselves, the House
of Commons run mad, the worst arts of faction be re-
sorted to, and the country recommended to think of re-
volution, merely, simply, and solely for the ridiculous
purpose ot dragging in again the Clique which only the
other day went out of its own accord. But in saying
that w° have said nearly all. We •• 0 cannot think the po-
sition of the new Government either very honourable, or
very triumphant, or even simple and clear. We cannot
regard with confidence either their power or their in-
tentions. We can hardly trust them for having any
definite policy. Still less do we think that they have
quire in a Government.
very honourable in
thee onl
anpi
drtohe mreaifitsierosntoe
pf, thatlwa
ceea ltlshtoeatrbeui lsiistry which, on the vulgarest
nothinge
an appeal to the forbearance, whether that forbearance
be to the Minister or the country. That forbearance is
to be exercised not only to the weakness, but still more
to the character, of the party- We are to bear meekly
for a season with a party which is not only beholden to
our forbearance, but is also in the position of a great
political offender. Having for several years obstinately
refused its adhesion to a great, beneficent, sad irrever-
sible act—having pursued the illustrious author ot that
act with insatiable malignity, and having for all that
period excluded from power its own boasted Conserva-
tive principles merely to punish the man, it has no
claims to our respect. We have to swallow not only the
Government but our own feelings, and we have to swal-
low them voluntarily, for the sake of the common weal.
And when we ask what the Government is to do for all
this, or are rather what we hope and expect it
to do, the estimate of its dignity falls still lower.
It is to perform a great propiatory end peni-
tential act. It has to renounce that Protection for
which, with some abatement latterly, it has been so
long struggling. It has to recant a selfish and invete-
rate error. Is has to set the country free, not from the
fear of Protection, bat from the nuisance of a stupid and
factious class opposition. That this is a substantial benefit
worth some forbearance, and some violence to our na-
tural and honourable feelings, we do not at all question,
and, as a pledge of the future, we hail with satisfaction
Lord
last D
Monday Derby's ut
g. Butteerramblianndonmen all
tol thfttshe Navigation
Laws winding.up
of
controversies, this confession of error, this allaying of
prejudices, this surrender of long-contested positions, is
dignified;useful"ththeannatureofpositive
merits
and, when it
is odroene ", addsumb
to the claims of the party; for to pardon a penitent is
one thing—to admit him into our confidence is another.
The forbearance which we have inculcated, and which
more "humble
e bat ald
little
we desire to observe, is wholly irrespective of our opi-
nions as
to the power, or even the intentions, of the Go-
vernment. Both its power and its intentions are limited
and the very terms of
by the nature of its origin, its ex-
istence.which Lord Derh -
The pledges from
y and his
n gradually emancipating themselves,
colleagues have bee
and from which they now evidently wish to be entirely
chief b-t l s the a . ac e to their
relieved, are by no mean
_th
pledges Itf the leaders, there aro the
power. Besides the. d the supposed
interests
of
• .• omens, an
prejudices, the p
uch more substantial and obsti-
nate followers—things much
expressions, however distinct and
nate than any mere powerful interest has been solemn. A large and
many years into Bat-
tered, coaxed, exasperated these . an
rights -
conceit a its natural end its po-
liticalextravagant
been taught to rely on its
injuries; it has
and t
own superior intelligence, o distrust every states-
manin the language of rea-
son who ventured to address it .
or to put it on a level with other
son and common sense,
seen whether
interests. It now remains to - he the agri-
culturists will readily conform to the more moderate tone
and the more sensible standard of political right adopted
,by their Conservative chiefs. After a six years secession
from the commonwealth, can they easily return, to the

Kr. Slicing begged to offer, as a New South Wales
corroboration years'
experience,
o v commencingevery statement
ulnirgneeded by Sir W. Molesworth and Mr. Adder-
ley.hhiasd colonistubnTeciehu:ell attendance that day of gentlemen from almost
every Australasian colony was induced by the all impor-
tant fact, that although the five ships that had been
mentioned by Sir W. Molesworth were nominally des-
tined tor Van Dtemen's Land exclusively, the convicts
carried out by those vessels would very soon be dispersed
throughout New South Wales, Port Philip, and South
Australia. It was matter of notoriety that for years past
Van Diemen's Land had been so saturated with the felon
population that a practice had for some time past pre-
vailed at Hobart Town (under the sanction of the Go-
vernment) of granting conditional pardons, permitting
prisoners, very soon after their arrival from England, to
proceed as free men to any of the neighbouring settle-
ments. The effect of this practice wai merely to con-
vert Van Diemen's Land into a conduit pipe through
which felons were poured by hundreds into the neigh-
bouring colonies, and the latter consequently suf-
fered all the evils, without any of the mitigations
which had accompanied the former direct transporta-
tion to New South Wales. It had not a little asto-
nished the colonists, generally, to find that Lord Grey
bad actually relied on and put forward—they trusted
from misapprehension alone—one of these very evils of
his own system as evidence of the groundlessness of the
universal opposition to further transportation. His Lord-
ship had cited the criminal statistics of the free colony
of South Australia as showing the offences against the
law to be 'here in almost, it not quite, as large propor-
tion as in Van Diemen's Land itself. The fact was, us
any official in the judicial establishment of South Aus-
tralia could inform his Lordship, at least three-fourths of
the convictions in that colony were of convicts who had
come over from Van Diemen's Land—and this was a
fact of colonial notoriety. The same observation would
equally apply to New South Wales and Port Philip.
Upon the whole, therefore, the latter colonists were so
all but unanimous in deprecating a recurrence to a state
of things such as obtained down to the year 1840—
when it was unsafe to travel alone two miles out of Syd-
ney—that the colonists of New South Wales alone had
petitioned, to the number of 35,000, against a resump-
tion of transportation, and only 525 petitions were in
favour of it; these latter too—few as they were—includ-
ing all the dependents that some few flock masters,
chiefly anxious for labour of any kind, might be able to
muster. No acts of violence had as yet ensued, but it
was evident to every colonist that, among the vast and
mixed congregation of people making to the gold fields
of New South Wales and Port Philip, a large admix-
ture of convicts must inevitably lead to scones of bloody
ngsh name through-
out the world.
Diemen's Land, which corroborated the intelligence Mr. J. A. JACKSONoobvieerrlavnedd tmhaatilhae
lhetatderthfarot
from Van
received by the
sts—the members
for Hobart Town, the capital, being favourable to the anti- transportationi
re-
ceived by way
no other than the
of Sydriey, of the elections having been
president and treasurer of " the League"
transportation.
colonists
h ad
Diemen's Laud. The Government had thus,
i
on
nia
most constitutional way, the opinion of the
colonists Van
little li
Mr.
Jacksonalternative proceeded
now
themselves or employing convicts; and, therefore, their
employment of convicts was not conclusive that—as bad
been
to showbetween that
ruiningt
h
e
alleged--they had begun to change their minds,
It transportation were at an end,
their land fund would
be applicable to sending outfree labour; they would
'receive back many of '
driven out of the island,
and the native lads, as they
grew to mans estate,
would the
bf re e eretained
e who had been
int
the
ela
nd of
their birth.
Assembly in South Australia)o
f
Mr. G. MORPHETT (brother
rtehperefisres tteSdpetahkaetr
noefatrhye
founded
alutntehddee
dc
by
at; is eaocl
do
freem cmo iatvtei
colony,cdt s i; n
and
dbudt h
thiswAustraliaboc so enl o
ne by a,
rwaeataerp earap le
originallya-
free colony had been recognized in different Acts of Par-
liament, bad become in effect a receptacle for a largo
amount of crime. Although the colonists had hitherto
borne this infliction, and their loyalty was unimpaired,
yet there was a limit to human endurance. The great
extent of crime committed iu South Australia by men
who had !Yen convicts bad been much remarked upon
by the Learned Judges of the Supreme Court in that
colony.
Mr. KING observed that the Noble Lord lately at the
head of the Colonial Department had, on a. recent occa-
sion, when he had hed the honour of an interview with
his Lordship, observed that the criminal returns of Van
D would bear a not very untuvourable
comparison La
onwii:dh even those of the originally free colony
of South Australia. Mr. King adduced some .very re-
markable statistics on this subject, showing bow en-

I tirely erroneous the Noble Lord's views were with re- duties of citizens? But Lord Derby's intentions are
spect to it. avowedly, though perhaps more avowedly than really,
Sir J. PAKINGTON, in reply, expressed hie gratification dependent on his power. He may possibly find next
at listening to the sta:,ements of 80 many gentlemen so July, or next October, as the case may hz., that he can
well qualified to express their opinions on the very im- command a majority for the revival of Protection, but
portant Lubjeot of transportation, and with which there cannot command a majority for a merely Conservative
was no person better acquainted than the Hon. Baronet and remedial policy. In that case the blind sentiment
Sir WiLiam Moleewortti. He had himself devoted much of honour which has already seduced him into antago.
attention, as a Member of Parliament, to the general I nism with the general interests of his country may once
subject of punishments, though not, he confessed, to more lead him to an enterprise far more perilous
transportation in particular. With respect to ti,e report than any he has yet attempted, for such the
of five convict vessels being ordered for Van Diemen's revival of Protection, on the strength of a Perlis-
Land. there was a mistake in this; four only were under mentary majority, would undoubtedly be. On "a
orders, and this, he believed, was from an inadvertence bare majority" he has assured us he will not act; and a
on the part of the Noble Lord, his predecessor. He (Sir fixed duty of a few shillings he has spoken of with utter
John) had already arranged for diverting one of those I contempt. But he may have a decid,d majority, de-
vessels in another direction, and he hoped to do so with p mending at least some definite measure of Protection.
another. As regarded the alleged breach of faith, it Should he attempt to comply, he will bring ruin on him-
was clear he (Sir John) was not responsible on this self, degradation to his party, calamity to the State, and
head. He could assure the gentlemen present that the confusion on all who have recommended forbearance.
importance of the subject of transportation was duly We are persuaded that he will do no such thing; but,
appreciated by him, and would receive his utmost though we are easy on this point—viz., as to what Lord
consideration. He would, however, state a few facts, Derby will not do, we are by no means easy as to what
as be found them on his accession to office. Western he will do. What liberty of patriotism will his country
Australia petitioned for convicts, and the settlers supporters allow him? Will they permit him to do more
in Moreton Bay petitioned for them, and sought than re-adjust their burdens, talk against democracy, and
separation from New South Wales, for the purpose of deal with sanitary questions? It must be confessed that
receiving convicts. A petition had been lately received hitherto between Lord Derby's professions and the
from 144 landholders in Van Diemen's Lend, actual wants of the country there has been a fearful gap,
praying the continuance of a modified system which even his eloquence has not been able to disguise;
of transportation. He merely stated theist) as facts, not and, as long as that is the case, it is evident that, though
denying that there was undoubtedly
a very great feeling we may forbear, it is impossible to confide.—Times.
of opposition to the continuance of transportation. Then
he would ask whether the objection to transportation did
not rather apply to the system as it existed formerly—
to the "gang system?" As regarded at once meeting
the wishes of the gentlemen present, he thought they
would see, so recent as was his accession to office, that
it would be impossible at present to do more than assure
them that the subject should engage his early attention,
and that he was much indebted to the gentlemen present
for expressing their views respecting it.
Sir W. MOLESWORTH thanked the Right Hon. Gentle-
man on behalf of the deputation, for the courtesy of his
reception, and for having at least arrested the sailing of
two of the convict ships destined for Van Diemen's
Land; but there was one subject upon which he would
edividuals. They
beg leave to add a very few words. Sir J. Pakington
might not be responsible for the breach of faith commit-
ted r
Go-
vernment. me towardswena rt
.d eof faith commit-
knew that the British Government had pledged itself
Tt thehhee
State colonists,
co o colonists
wasis t s
thebut
knewbreacha
o breachi
of
faith
whomsoever administered, was responsible for its per-
to a particular act, and the British Government, by.
formance.
The deputation then retired, favourably impressed
with the manner of their reception.

SOUTH-EASTERN AND CONTINENTAL
STEAM-PACKET COMPANY.

The half-yearly general meeting of the proprietors of
the South-Eastern and Continental Steam-packet Com-
pany was held yesterday, at the Bridge•house Hotel,
London-bridge. 1 James Macgregor, Esq., in the chair.
The SECRETARY read the advertisement by which the
meeting was convened.
The common seal was then affixed to the list of share-
holders of the company.
The CHAIRMAN then read the following report of the
directors fur the past half-year:— _ _ _

" The account; of the South-Eastern and Continental
Steam-packet Company, now submitted to the proprie-
tors, show the gross earnings of the half-year to be
25,1841. 4s. 10d. This amount, as compared with the
corresponding half of the previous year, shows an increase
of 799/. 18s. 10d.• and an addition 0i17,701 passengers
—viz., between Folkestone and Boulogne, 5,004; Dover
and alais, 12,697. Total increase,. 17,701.
" The proprietors will observe that the increased re-
ceipts are not in proportion to the additional number of
passengers, which is accounted for by the fact that the
receipts are solely the produce of the traffic, unaided by
any contribution from the South-Eastern Railway Com-
pany, or the Northern of France Railway Company,
whilst in the corresponding half of last year 5,7601. was
received from the two railway companies.
The agreement entered into for a daily service be-
tween Dover and Calais expired on the 31st July last;
but as the boats continued to run between these ports till
he close of the year, the directors consider that this
company has an equitable claim on the South-Eastern
Railway Company to contribute towards the expenses of
that service.
" Daring the half year 26,356 miles were navigated
with unvarying regularity.
" The directors have much pleasure in being able to
report on the efficient state of the eight steam-ships be-
longing to the company.
" After deducting the working expenses, 7,395/. 12s.
10d.; the cost of repairs and renewals, 4,6271. 6s. 5d.;
and the port dues, 2,823/. ss. 6d., there remains a balance
of 10,335/. Os. id. at the disposal of, the proprietors, out
of which the directors recommend that a dividend be de-
clared at the rate of 51. per cent. per annum, free of in-
come-tax, which will amount to 2.8611. 12s. 10d., and
that the remaining balance of 7,4731. 7.3. 3d. be carried
to the credit of the reserve fund. The property of the
eompany will then be the eight steam-ships, and a re-
serve fund in addition of 21,6451.85. sd.
" The directors retiring by rotation are Mr. Macgre-
gor, Mr. Renshaw, and Captain Warren.
" The auditor retiring by rotation is Mr. Edward
Wright."
The following is the report of the auditors:—
" Gentlemen,—We have to lay before you our report
on the accounts of this company
for the half-year coding
3lat January last, and to certify that the same, being
duly vouched, have been passed by us in conformity.
" We think it right to call your attention to the item
following, viz.:—
" In the capital account of the last four half-years the
entry of coals and ship and engine stores has varied from
900/. to 1,7001., whereas in the present statement it ap-
pears as 5,1501.
The increase is explaitned by the fact that the com-
pany have taken over frown the South-Eastern Railway
the machinery in the workshops and the stores in the
boiler-house at Folkestone Harbour, under the valuation
of two competent persons. The amount of stores, ma-
chinery, and tools, so transferred, was 4,0671. 103. sd.
" The boiler and workshops lately built by the South-
Eastern Company, and now occupied by this company,
are efficient and suitable for the purpose, and, being close
to the harbour, enable the company's works to be carried
on with efficiency and reg clarity.
" We are, gentlemen, your obedient servants,
(Signed) " EDWD.. HARDING, /
Auditors."
EDWARD WRIGHT,
The CHAIRMAN congratulated the proprietors on the
very satisfactory state of the accounts of the company,
by which it would be seen that they had a fund of
109,0001., having also reduced their original debt by
37,0001. There was one point in the report to which
the attention of the propticaors would no doubt be di-
rected, and that was as lio their relations with the
Northern of France Rail; vay. That company required
that they should run a boat, and also that there should
be a train on the railway at a particular hour of the
day, but the directors feelin g impressed with the diffi-
culties attending any such. arrangements with two tidal
harbours, had come to the determination that they
could not do their duty if they were to accede to any
such terms, as their boats were not insured, or that the
voyage could be performed, day by day, with certainty
from both of those ports.

lir. WRIGHT wished to ;EU! k the chairman if they could
not have a higher dividend than the one proposed with
such immense earnings 2

The CHAIRMAN said they were under a moral gua-
rantee to the South-EasterTt Railway Company, and he
thought their position would be strengthened by re-
taining a large portion of their capital.
_ _

- C 7 •
Mr. WRIGHT, after adverting to the original agree-
ment wish the South-Eastern Railway Company in 1844,
said he considered some aircangement should be entered
into similar to that of t'be Peuiasular and . Oriental
Steam Navigation Company with the Government, as a
subsidy, not for the conveyance of the mails, for that was
a matter of minor import ante, but for demurrage and
the wear and tear of their boats, and other incidental
charges. They stood in precisely the same position with
the South-Eastern Railway Company, for their boats
were'at all times under this orders of the directors of the
South-Eastern Company. Ile found by a Parliamentary
document that he held in his hand, that the Dublin
Company received 10 per eant, and an occasional bonus,
and such being so he woiald ask .ought any gentlemen,
having advanced their money in a speculative concern,
to be satisfied with a return of 5 per cent.? The idea
of such a thing was quite absurd. The chairman had
talked about the moral guarantee, and he should like to
know how much longer it was to be stretched.
The CHAIRMAN said thin company consisted of 500 pro-
prietors, who were all proprietors of the South-Eastern
Railway, which consisted of 5,000, and he thought they
should support the board of directors in carrying out
the guarantee with that company. A Bill was agreed
to be brought into Parliai neat in 1849 to consolidate the
two companies, and but for other subjects then en hand
would have been obtained. During the year, 317,000
persons had travelled by their boats, and therefore they
must consider them as the right arm of the railway
company, and the result glee an increase of 17,701, not-
withstanding the General. Steam Navigation Company
had given them the mesa determined opposition, by a
system of reduced fares, mad a further reduction on per-
sons taking return tickets—which opposition was
mainly promoted by the Northern of France Railway
Company. He thought it would be impossible to exag-
gerate the advantages of the South-Eastern Steam-
packet Company, which. were of the utmost import-
ance to the South-Eastram Railway Company. While
he was before the general meeting he should like
to know whether the shareholders would be con-
tent to receive back +their capital, on handing over
their boats to the South-:Eastern Railway Company;
for if the railway compatay met them and should say,
" We will give you 132,0001., and relieve you from all
liability," he did not think they could go further.
A SHAREHOLDER wit bed to know if the railway com-
pany would give them a guarantee for ten years ?
The CHAIRMAN consi.de red it a fair proposition that
the railway company sh ould guarantee them 5 per cent.
with an undertaking to replace their boats at any future
time.
After some other observations from Proprietors, ‘,
It was then proposed thut a dividend of 5 per cent. be
declared according to the recommendations contained in
the report.
A SHAREHOLDER moved, as an amendment, that the
dividend be six per cent., as that proposed was not
one-third of the earnings o f the company for that period.
The CHAIRMAN said this had been a subject of consi-
deration with the directo ra, who believed the state of
prosperity that the company now enjoyed would be best
protected by a small divadend. No less than 317,000
persons had come to England during the last year, and
a further number, he don kited not, would come year after
year. It was true that they would not have the Great
' Exhibition during the present year, but still he ex-
pected a greater increase: than had hitherto taken
I place. A low dividend in the present position of the
company was the most :safe, for by retaining a large
surplus in hand their pro! pacts would be rendered more

satisfactory.
The question was then plat, and the dividend recom-
mended by the directors A vs a carried by a large rnahrity.
A conversation then to oil: place as to the terms of set-
tlement between tho Gil pan!, and the `...i:alfh_E,st,,n
Railway Company, and Chia general opinion appeared to
be in favour of a dividend. of 5 per cent. in perpetuity
with an undertaking to IN frilaee the boats when worn out
but no resolution was cease to upon the subject.
Mr. MacGregor was re-elected chairman for the ensu-
ing year, and the retiriing directors. with Mr. Rich,
M.P., were elected.
A vote of thanks was 1 fitt.sed to Lieutenant Essell, the
harbour-master of Folke stone, for his services, on his
retirement.
Lieutenant Essell returnill thanks for that mark of
their favour, in addition to the handsome testimonal
preAented to him.
A vote of thanks to this dhairman was passed,
and the
meeting was dissolved.