The Sun.
London, England, 1852-09-10 00:00:00

Company amalgamated with them as soon as they could,
or they would stand a chance of losing all the traffic
they now derived from that source,—(Hear, bear.)
The. original motion for the reception and adoption of
the report was then put, and adopted by an overwhelm

jug majority.
The next motion from. the chair, authorising the pay-
ment of a dividend of 7'. 61, less income-tax was agreed
`o without oppositio.
Mr. WILSON would now move that the report of the
auditors be received, and that the directors be requested
to act upon that portion of it which related to closing
the capital account. The observations of the auditors
were as follow:—" We cannot conclude our report with-
out expressing a strong conviction that the beat interests
of the company require that the capital account should
be finally closed with as little delay as possible, which
result accomplished would tend to promote a wholesome
economy and inspire confidence in the undertaking. We
are of opinion that the point at which the capital ex-
penditure should cease could be ascertained and re-
ported to you at your next half-yearly meeting."
After some discussion, Mr. Wilson consented to with-
draw the proposition, and the following resolution,
moved by Mr. Coles Child (one of the auditors), and
seconded by Mr. laclauren, was adopted unanimously :
" That with the view of determining the amount at
which the capital expenditure will cease, the directors
be requested to submit to the proprietors at their next
half-yearly meeting a detailed estimate of the amount
required to complete the line and works of the South-
Eastern Railway Company; alp a statement of the en-
tire debts and .liabilites of the company, and of its pro-
perty and assets, as a necessary preliminary to the final
closing of the gp it al account."
The declaration as to forfeiture of shares, contained
in the several resolutions of the directors dated the 22d
April, was next confirmed, and the directors ordered to
dispose of the shares so forfeited in the manner pointed
out by Act of Parliament.
The CHAIRMAN—The next resolution referred to the
eorrespondence which had taken place with Lord Sondes
and other gentlemen, upon the subject of the proposed
extension of the North Kent Railway. It was—" That
this meeting approves the views of the directors, as ex-
pressed in their letter to Lord Sondes of the 2cl of De-
cember last, as to the extension of the North Kent Bail-
way from Strood to Chilham;:and that the directors be
instructed to take such further steps in relation to that
~.-xtension as they may deem to be most expedient for
the promotion of the interests of this company."
Mr. Garr was of opinion that it would be highly in-
expedient 'sr this company to have anything to do with
the construction of the line proposed by these gentlemen.
If the landed proprietors in that part of Kent were so
very anxious to have a railway, let them raise the money
and carry it out themselves, or give the land which
would be required for its formation. But if their ob-
ject was simply to benefit their own property at theer ethxe-
pense of the South-Eastern Company, the soohnecom.
correspondence was at an end the better.
pany could be reasonably called upon to Adoll tas
the line was constructed, to enter into an agreement
for
after
working it, but to have nothing to do with the construc-
tion itself.
The resolution was agreed to unanimously, as
tors were
also two other resolutions authorising further
thfeurdthireerc m to
borrow at interest on mortgage
money not exceeding 180,0001., anfd
tihnestrcuactnitnegrby andtuhsreumto
give notice to the directors of
Whitstable Railway Company of the South-Eastern
Company's intention to exercise the option given them
to purchase the harbditr and works of the Canterbury
and Whitstable Company on the terms agreed upon by
the two companies.
The CuAlasiatsr said the next resolution referred to
the steam-packet company, and the directors had drawn
it in such a manner as not to commit any proprietor in
this company. He begged to move that " the directors
be authorised to negotiate terms with the South-Eastern
and Continental Steam-packet Company, for the pur-
cha iof that company's steam-boats' such terms to be
submitted to a future meeting of this company for their
consideration."—(Loud cheers.)
Mr. WILSON suggested that it would be advisable for
the proprietors to appoint a committee from their own
body, who were not shareholders in the steam-boat com-
pany, to co-operate with the boavd of directors in the
performance of this duty.—(Hear.)
Mr. G. SMITH thought there was nothing invidious in
the recommendation of Mr. Wilson, and that the chair-
man and directors could entertain no objection to its
being adopted.
The CHAIRMAN—AII the directors asked was to be
allowed to bring the subject before the steam-boat pro-
prietors, and call upon them to agree to some terms
which might then be submitted to the South-Eastern
Company. Ile would, however, accept the addendum of
Mr. Wilson. The resolution would then be as follows:
" That the directors be authorised to negotiate terms
with the South-Eastern and Continental Steam-packet
Company for the purchase of that company's steam-
boats; such terms to be submitted to a future meeting of
this company for their consideration; and that a com-
mittee of five proprietors, who are not proprietors in
the steam-boat canape* be associated with the direc-
tors to consider and report on the terms that may be
proposed."
In this shape the resolution was agreed to unani-
mously; and Mr. Iveyleaf, Mr. Coles Child, Mr. G.
Smith, Mr. Wilkinson, and Mr. Grey, were nominated
members of the committee.

Mr. THOMAS BROWN having been re-elected auditor,
The CHAIRMAN, in answer to a proprietor, said that
the Submarine Telegraph Company had offered this
company 501. per wire per annum for permission to place
six telegraphic wires along their line between Dover and
London. In other words, 3001. a year only. This the
directors had refused; and subsequently the Telegraph
Company had laid down won troughs on the common
eoad between Dover and Loon for their wires—a sys-
tem which had been tried in Prussia and failed, and he
very much doubted whether it would succeed better
hbre.—(Hear.)
The business of the general meeting being terminated,
the shareholders resolved themselves into a special
general meeting for the purpose of considering the
question of capitalising the mortgage debt.
The CHAIRMAN said, that so far as he could judge the
prospects of the money market were that money would
be cheaper still, and if the directors might offer an
opinion they would say that they did not think the com-
pany would suffer by allowing the question to pass over
for the present.
Mr. MACLAUREI could not see the advantage of the
proprietors taking the debenture debt at a given rate of
Interest in perpetuity at this moment; for, notwithstand-
ing the obloquy which was sometimes thrown upon their
Unfortunate railway in the money market, it stood pre-
eminently successful; and although their shares were 30
per cent. discount, they could borrow money at as low a
rate of interest as any other line in the kingdom. It
Faa an anomaly difficult to account for, nevertheless so
it was.

lirieWrtii
soN suggested the propriety of adjourning
the ciatio
The cR.L
before the lislif—The directors had placed the matter
woald be tsatearth shareholders, h. olden,. expecting that some notice
that anything oIt; but it was obviously not important
perfectly shouldcorret be done now. Mr. Maclauren was
Company, no
eo4:cept the London and North-Western
snolittdebt stood in such a position as
did that of the
-Eastern. Under the circum-
stances, therefore, he
safely adjourn the matterwn°lllll suggest that they might
until a future meeting, of which
ample notice should be
question was then adjourned
The consideration of the
tine die by genecal consent.
A PROPRIETOR moved a vote offre ,
thanks
ttotnocethreaicsehdaiirn-
man, and a large number of hands
Mr.
wmsos (jumping upon a chair) exclaimed its support, accompanied by loud cheers
ott,were et-
ed that
was, that Ir.)
he objected to the propo,sition, and that
tempted to be " crammed down the throats"
ing he should move an amendment.—(Oh, and meet-
meet-
Mr. MACLA.IIItEN—AII he could say
tience the chair had exhibited that day demanded Egesi;
beat thanks.—(Loud cheers.)
A vote of thanks, proposed by Mr. Maclauren, and
seconded by Mr. Wilson, was then passed to the sect©_
tary and other officers of the company, for their zeal,
attention, and efficiency in the discharge of the duties
of their respective offices, after which the meeeking
broke up.
____..r

EXTENSION OF THE NORTH KENT.
We extract from the "Correspondence for the Con-
sideration of the Proprietors of the South-Eastern Rail-
way relating to an Extension of the Noeth Kent Rail-
way, proposed by the Right Hon. Lord Sondes, the
Right Hon. S. R. Luahington, and others," the follow-
ing documents:—