The Sun.
London, England, 1864-11-29 00:00:00

Railway and other Companies.

MADRAS IRRIGATION AND CANAL.

The half-yearly meeting of this company was held
yesterday at the London Tavern ; Mr J. Thomson
in the chair.

Mr Westward, the secretary, having read the
notice convening the meeting, the report, an abstract
of which has appeared in The Sun, was taken as read.
The CHAIRMAN, in moving the adoption of the
report, said he hoped they would consider it satin■
factory. Every effort had been made since the last
meeting by the directors to push forward the works.
The want of sufficient labour had retarded their
operations, and every endeavour to increase the
number of persons employed on the works was
made in neighbouring districts, but they had
not been so successful as they expected. The supply
of labour was far short of their necessities. Some.
times the labourers were frightened away from the
works by the outbreak of cholera, and it was very
hard to persuade them to return, but he was glad to
say they had not lost by that disease any of the
Europeans employed on the works. They had re-
admitted water into the first portion of their canal in
August last for a distance of 18 miles, and they were
now enabled to irrigate all the land on that portion
of their undertaking. The acreage prepared for wet
cultivation was much leas than it would be next year.
The value of irrigation was well known to the natives,
and they were quite ready to avail themselves of it.
The cost of irrigation in the ordinary way was about
20 rupees per acre, but the company could supply
it at four rupees per acre. Their anicut across the
Toombuddra had withstood the freshets in a very
satisfactory way; there was only a very small
breech made last season in one portion of it about 22
yards in length, which could be speedily repaired
when they subsided. The anicut was 1,600 yards
in length, and was very solid and in perfect order.
They had recommended to their manager to sus-
pend the navigation works as much as possible, and
to forward the irrigation works, as they would be
most useful to the country and most profitable to
the company. It was now evident that the works
would cost more than was nriginally estimated.
Sufficient allowance had not been made for the or-
ganisation of the staff and the great rise in wages
that had taken place. This was a matter that had
fallen rather heavily on some of the contractors,
but with the experience they had had their future
estimates would, no doubt, be much nearer the
actual cost. They had instituted a searching inquiry
into the causes of the excess of cost over estimates,
with the view to a better supervision and the forma-
tion of more correct estimates for the future. If the
works had cost more than was estimated, there
was the same error on the other side of the
account, which would tend to counterbalance the
extra outlay in the shape of increased income. They
had 178 miles of canal and irrigation works in hand,
from Soonkasala to the Pennair, more or less in
course of construction. The surveys were being
continued in the Bellary'dietrict, and at Cuddapa.
The company's engineer had found that by the
diversion of the canal the natural difficulties could
be surmounted in that rocky district. The question
with the Government as to the submerged lands in
some of the valleys had been recently settled, and
those valleys would in future be crossed by double
embankments instead of by single ones. The Go•
vernment had arranged to make over to the com-
pany some of these valleys, but as the arrangement
had only been come to a few months ago, the delay
had thrown their operation back in some respects.
The works at various points were proceeding
satisfactorily, and in the course of next year per-
tions of the irrigation works would come into profit-
able operation. The whole course of the canal and
irrigation works would yield large returns year by
year. It was satisfactory to know that in the Koon-
dair valley district the works for irrigation were
progressing, and it was expected that the 11 miles
between the 114th and 125th mile would be ready in
January next, and a larger section by the middle of
the year. The eight-mile section between the 98th
and 108th miles would be completed by June next.
The cost of the 178 miles of canal would average be-
tween £3,500 and £4,000 per mile. They would be
able to irrigate a large tract of country—say from
400,000 to 500,000 acres—but estimating 300,000
acres at 4r. per acre it would give £120,000 for the
irrigation of the first crop, but that would not re-
present the whole of their receipts; there would
be the second crop. The price of food since 1843
bad trebled, and within the last few years
had doubled. The irrigation would increase the
produce of the land considerably; the price of 4r.
per acre was very low, and would put a large profit
into the pockets of the cultivators. The irrigation
would also tend to increase the produce of cotton
in that district. It was found by experiment that
irrigated land would produce 1501 b. of clean cotton
per acre, while if the land was partially irrigated
the produce would be increased to 2501 b. of clean
cotton per acre, giving a clear gain of 121 r. per
acre, and, deducting the 4r. for irrigation, would
leave 81r. for the ryot, besides insuring his crop.
He then adverted to some complaints of proprietors
as to the reduced value of the shares in the market
as compared with railway shares, and showed that
nothing whatever could interfere with the 5 per
cent. guaranteed on the shares by the Govern.
meat. The works must be completed to
make them productive, and although they
might not get quite so much over the 5 per cent.
as was originally expeetel, owing to the increased
cost, yet the existing shareholders would have
their 5 per cont, on the £1,000,000 of capital,
their rights being fully protected. The supply of
water was the only remedy against famine in a
country where the failure of crops was so frequent.
The prospect of the company were very cheering,
and he had great pleasure in moving the adoption
of the report. (Hear.)
After some discussion, in which Mr. J. Jones,
Mr. Smith, and other shareholders took part, the
report was unanimously adopted ; the retiring
directors—Lieutenant-Colonel W. C. Onslow and
Major-General W. 'Watkins—were re-elected ; and
also Mr. J. Boner, the retiring auditor.
The proceedings concluded with a vote of thanks
to the chairman and directors.