The Sun.
London, England, 1852-04-03 00:00:00

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'TAN STEAM NAVIGATION
.r" COMPANY.
.iraordinary general meeting of the Eastern Steam
gation Company held yesterday afternoon was nume-
,alyattended. The report detailed the whole of the pro-
ceedings relative to the late tenders, and the award of the
contract to their competitors, the Peninsular and Oriental
Company. The unanimous feeling was that the conduct of
Sir Charles Wood and of other members of the late Govern-
ment in the negotiation was extremely reprehensible, and
that in the face of the recommendations of the committee
appointed to investigate the subject of communication with
India, the Eastern Steam Company had not been fairly
treated. The report also showed the saving effected to
the country by the lower terms upon which the
Peninsular and Griental Company had been compelled
to take the contract, owing to the introduction of
competition, and alluded in strong language to the
partiality exhibited in the decision arrived at. The
whole question was discussed with much animation,
and the recommendation of the directors that the
company should not be broken uP, but that it
shou'd maintain the privileges afforded by its charter, with
the view of ultimately attaining its most important objects,
was carried without a dissentient voice. The great economy
exercised in management, and the arduous exertions of the
directors, elicited general approval. Before the close of the
proceedings special resolutions were passed embodying these
opinions, as well as one describing the necessity of a full in-
quiry respecting the manner in which the tenders made by,
the Eastern Steam Company had been dealt with. In an-
swer to questions it was stated that the directors have re-
ceived an intimation that one of their colleagues is prepared
to lay befo:e them a scheme through which they will be en-
abled to carry out such a service as has been contemplated.
When this shall have been matured the shareholders will be
called tegether to give it their consideration. The following
paragraph from the report notices the precipitancy with
which the late contract was concluded, and also alludes to
the present financial position of the company :
" Your directors feel that they cannot conclude without
drawing attention to the very unusual and remarkable pre-
cipitancy with which the question of the tenders was dis-
posed of. On the 21st February, the late Government re-
signed office. On the afternoon of the 26th the tenders
were delivered pursuant to notice. The Ministers remained
at their offices, it is understood, until the close of the 26th
Febrnary, and on the following day, the 27th, the present
Government was formally installed in office. The tenders in
question must, therefore, have been received, investigated as
to their respective merits, and reported upon by the Admi-
ralty, and adjudicated after consideration at the Treasury,
in the few hours which intervened between their delivery
on the 26th, and the formal relinquishment of office by
the members of the late Government on the 27th of Feb-
ruary. Your directors believe these facts, inconsistent as
they are with all the deliberation previously given to the
subject, and the greatness of the consideration involved in
it, to be quite unprecedented ; and coupling them with the
evident disparagement of the terms of their tenders con-
tained in the Admiralty report, they submit them for the
consideration of the proprietors and the public at large,
strongly impressed with the conviction that the public in-
terests demand a clear explanatory justification of the cir-
cumstances from those upon whom the responsibility now
rests, of having committed to the care and keeping of one
single body the exclusive charge of the important ex-
tended mail communications and steam traffic of this
country, with its eastern and Australian dependencies,
for a further prolonged period of eight years, in violation of
a policy apparent on the face of it, and of recorded resolu-
tions of a Select Committee of the House of Commons,
specially appointed, with the concurrence of the late
Government, and to which the main agents of this pro-
ceeding were approving parties, with the express object of
defining the footing upon which such communications should
be hereafter placed. A statement of account, brought down
to this date, shows a balance of 2,1841. at the disposal of the
company, after payment of every demand of an ordinary
character. The only claims of any amount still unsatisfied
are those st, hich may be considered as coming under the
head of compensation for professional and other services
connected with the preparation of engineering details and
office arrangements. In conclusion, your directors cannot
but express their opinion that, considering the important
public object for the attainment of which the company was
incorporated, and for which a charter limiting the liability
of the shareholders has been obtained, the wide field of
enterprise which that charter opens, and the probable large
increase of traffic with the East that muat result from the
completion of a railway across the Isthmus of Suez, it
would be highly inexpedient to abandon the undertaking
notwithstanding the unfavourable position is which the
company has been placed by the decision of the late
Government. They would, therefore, request a continuance
of the confidence of their shareholders, during such further
period as may be necessary to enable them to submit for their
approval a project now under consideration, for the prosecu-
tion of the undertaking on such a footing as will secure the
attainment of its most important objects."
Annexed are the principal resolutions:—
" Resolved,—That this meeting most cordially approve of
and adopt the report now read, and the shareholders request
the Court of Directors will continue their exertions on behalf
of the company, with a view to effecting such arrangements
(or the prosecution of the undertaking as may secure the
attainment of its most important objects.
" That it appears to this meeting that the circumstances
under which the contracts for the India, China, and Aus-
tralia mail service were allotted require the grave considera-
tion of the public, and the directors are earnestly requested to
use every effort to cause such circumstances to be thoroughly
investigated."

MINING INTELLIGENCE.
(From the Mining Journal of this day.) _
There has been a fair amount of business in the market
this week, and the prices of shares generally are pretty steady.
Devon Great Consols hove been done at 2951. ex div: ow-
ing to an improvement at Wheal Emma, a further rise in
price is anticipated. Alfred Consols have exchanged hands
freely; and West Alfreds arc advanced to 211. South Wales
Mining shares are more inquired after- a good lode having
been discovered near the surface; and the Orsedd Mine, ad-
joining the Merllyn, is attracting some attention.
In the Metal Market-Copper continues in steady de-
mand, and very firm at the quotation. Tin is temporarily
at a stand-still ; little or nothing doing either in British or
Foreign Tin- plates are extensively dealt in, at a alight
reductian in price for inferior lots, better sorts readily ob-
taining full quotations.
In the Bullion Market-Mexican and South American
dollars, buyers at 4s. 10,4,d. per oz. Spanish pillar dollars,
Sc. 01,d. per tz. Par silver containing gold, all above 5
grs. in the pound to be paid for, ss. Osd. per oz. standard.
Bar silver without gold, ss. O%d. per oz. standard. Bar gold,
775. 9d. per cz. standard. Spanish doublons, 78s. 6d. to 78s
9d. per ez. American gold coin, 765. 3 per oz. Palatine,
I s per oz. Quicksilver in Bond, 3s. per lb.
The sales of copper ores in Cornwall by public ticketing
for the quarter ended ss ednesday last, have amounted to
38,113 tons, producing 2,88; tons 16 cwts. of fine col per, and
lin money 2u9,3751. 10s., being an increase over the sales of
the quarter ended 31st December, 1851, of 1,253 tons, in
monepceyril7,, nlOoetLvistliBtsh.6adn.d,
ianngd of' ss. 6J. per ton on the ave-
ragea falling off in the produce of
0'279 per cent., and in the copper produced of 8 tons 8 cwts.
The Caro Brea Mines have declared their 81st dividend-
2/. per share.
At Treviskey Mine bi-monthly meeting on the 22d March,
the accounts shovsed-Copper ore sold (after payment of
1-12th dues), 2,238/. 7s, 3d.-Labour cost for December and
aovfe
aonr e ,w2a2t3e /r.
cBha .
a9r
gd
e. s,
'Pfarerst
Jnal :rue ahra}n• ,t
85,44b/..i i
lIss: 21(192.1. t rli3bs u. t9ecir
.8 c
2'.0155, • leaves profit, 1,0171. 18s. 7d. ; add balance in hand
end . 50/. 3a. 4(4=1,068/. ls. 11d.-deduct dividend,
1,0')0/. : Nov.,*leaves balance to next account, 48/. Is. lid.
At 'l'rebell Consols bi-monthly meeting, the accounts
showed-Balance, in hand last account, 4771. 7s. lid.-Cost
for Jan., 147/. lOs. 10d. ; Feb. 144/. 15s. 9d.: leaving
At Holyford Mines meeting, on the 24th of March, the
balance in favour of the adventurers, 1851. Is. 4d.
rem ,
accounts showed- Balance last account, 913/. 1 ls. Id. ; over
estimate December cost, 13!. 19s. 10d.: received for Novem-
berour cost, 521/. 93. 7d. ; February,
419/. 65.; merchants bills, 165/. 12s : sundries, 48!. 19s.
7s. o2rde.sisjsa9n/u.
a l
r4y s. 11d. ; December, 4271. Is. 4.1 1 934/.
lid.: leaving balance to next account, 778/. 19s. Bd. The
result of the last three years workings show profit of
Wheal May bi-monthly meeting, 0 Saturday,h
1,222/ Os. 4d. .
Ataccount, 201
e4da.c;
counts showed-Balance from last a
calls received, 17e/ 17s. 7d. =s 197/. lOs ,113.-January cost,
(12.4;1. k;esb4.ru7adr.y...., 13s. 10d.: leaving ving balance to next
784i11s fur ore sold, 24/. 16s. ; arrears of
calls due, 16f/. 2s. 4d.-show assets, 217/. 13s. lid;
At Bolenowe Mine meeting, on the 25th of March, the ac-
counts for four months showed-Balance last account, 2051.
Is. 7d.; call in January, l
cost, 308!. 16s. 11d. 5()0/. a 1,705/. Is. 7d.-Labour
; merchants' bills, 168/. 13s. 10d.;
sundries, 8/. 4s. •
1,219/. 6s. 7d. 3d.. leaving balance to next account,
At the general two-monthly meeting of the shareholders
in Bodmin Wheal Mars • Consols, on Wednesday,
the state-
ment of accounts was laid before the meeting, and a call of
15s. per share made.
At the Keswick Mine half-yearly meeting, on Wednesday,
the accounts showed-Balance last account, 13/. 17s. ld.;
received for calls, 866/. ; loans, 800/. ; ores sold, 1,040/. 19s.
63.----=9,720/. 6s. 7d. Paid September cost, 200/ ; October,
250/. 2s. 4d.; November, 221/. 1 Is. 3d. ; December, 2121. 33.
3d.; January, 228/. 17s. 10d. ; February, 80/.; Nicholls and
company for steam-engine, 588/. 17s. 3d.; building for the
engine,lB2l 7s. Id. ; royalty, 54/. 3s. Id. ; secretary's salary
discount, and petty cash, 871. ss. 10d.; part of loan and
interest, 559/. 103. 5d.: leaving balance to next account, 36/.
wee :
An. 3,1 0 . aim,
. ....pica weeK estimated at
336/. Bs. 3d. assets. The liabilities being-Balance Feb
b.g
cost unpaid, 169/. 18s. : due on loans, 550/. ; balance of cost
unpaid, 232/. ls. 9d.,_-_-_951/. 19s. 9d.: showing a deficiency of
615/. 11 s. 6d. A call of 1/. per share was made.
At the Wheal Brewer Meeting, on Monday, the accounts
showed-Labour cost for four months to end of web., 4321.
9s. 6d.; merchants' bills, 101/. 15s. 23.; deeds and old ma-
terials purchased of former adventurers, 69/. 75...,.603/. lls.
9d.-By call, 5121.: leaving balance against adventurers, 91/.
I ls. 9d. A call of 2/. per share was made.
At Wheal Gennys meeting, on the 23d March, the accounts
showed-Balance last account, 259/. 4s. 11d. ; cost for Nov.,
154/. ls. ; Dec. ditto, 155/. 2s. 7d. ; Jan., 1571. 105. 10d.;
Feb.,including lord's dues, merchants' bills, &c., 256/.15s 91=a
1 9821. los. Id. By call, 238/. ; received for lead ore, 33,61.
Se. 103. ; sundries, 1/, 18s. ; leaving balance against adven-
turers to next account, 4071.85. 3d., to discharge which, and
for further prosecution of the mine, a call of 2/. per share was
made.
During the week the following shares have changed hands:
--Devon Great Consols, Alfred Consols, Bedford, Treviskey,
Merllyn, Tincroft, Tamar Consols, West Alfred, Wheal
Arthur, Wheal Golden, St. Agnes Beacon, Garreg, Great
Bryn, Bryntail,East Trescoll, East Rashleigh, North
le
ny, Great Cowarch, Devon Consols North, Cwmdyle 11,4,
North Robert ,East Boringdon, Lydford, Beacon, Allst- Crib,
Forthheal
Black Craig, Trehane, Wellington, Wheal °sled: Tamar,
Harriet, Unv, Galt-y-111am Trenault, Cleves,
Great Pol-
Wheal Catherine, East Russell, Fanny,Wheareari d and Wick-
gooth, South \Vales, Alining Company of
low Copper.
Imperial Brazilian, Css.a.e
In E,rqign Shares-Worthing, Mexican. Mint ,
United Mexican. Are
have
Santiago, and
have been done at 23i.
• 1 general meeting of the Worthing Mining
At a special of Sir
Company. on Wednesday, the motion George El odg-
kinson, for increasing the number of shares from i 6,00 a of
10/. each to 100,000 of 1/ each, was lost. By an amendment
ht forward by Mr. J. Brandies, and seconded b •
brow ht ) Mr.
shares
Legg, the 2,000 unappropriatedeolder, are to be issued pro
rata among the sharhy. . (two to every holder of five
shares) on payment of each, and representing, as the pre-
sent number do, 41. Ids. each, paid up. The
mien •
:1g was
numerously tt
aended, and the amendment was carried by 157
votes against 79.
At the Australasian Gold dining Company's meeting an
Tuesday, the report stated
that on the 16th ins • t. Mr. E.
E Hard-
ing, the company's Superintendent,
razll
formerly in the B 8,
had sailed for Australia, taking with him a competent staff,
machinery being in
be taken from readiness to follow. No labourers would
England, the company being apprehensive of
desertion, and having
heard that unskilled labour could be
obtained there,
only amounted The preliminary expense to present date had
illaci ~,to 3001. 8,000 shares bad been 01404, 440
i' VttslWell rherYed for the °dopy.

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