The Sun.
London, England, 1852-09-01 00:00:00

CORNWALL.

......_ _.
The thirteenth half-yearly general meeting of the
proprietors in the above undertaking was held on
Saturday at the Council Chamber in the Town-hall,
Truro, for the purpose of receiving the report, and
upon other business; the chairman of the company,
Mr. Michael Williams, presiding.
The advertisement calling the meeting having
been read, and the minutes of former meetings
confirmed,
The SECRETARY (Mr. W. 11. Bond), read the re-
port, which stated that the directors had availed
themselves of the altered position in which they were
placed by the warrant of the Board of Trade, and the
plan suggested by the directors and confirmed by the
proprietors had been steadily carried out. The num-
ber of shares surrendered to the company in conse-
quence cf the resolution by which the proprietors
were permitted to surrender one-fourth of their hold-
ings had been very much less than had been antici-
pated. The appeal made to the county by the chair-
man, assisted by the directors and other gentlemen,
had been most successful, and had resulted in an ex-
tensive and satisfactory list of shareholders in Corn-
wall, and which had enabled the directors to give the
best proof of the value to be attached to the undertaking
by the support they had secured from a respectable local
proprietary. Many of the most considerable holders
of land through which the line will pass have
agreed to take the whole, or a larger portion, of the
i value n shares ; and those who from circumstances
were unable to deal with the company in that way
have instructed their agents to meet the company's
land valuer on equitable terms. Mr. Brunel, the
engineer, having revised his plans for the construction
of the line, has been enabled greatly to improve the
works so as to materially reduce the cost of construc-
tion. The portion of the line between Truro and St.
Austell, on which the works were originally com-
menced, presenting the greatest facilities for the
immediate resumption of operations, the directors
advertised for tenders for about fifteen miles, extending
eastward from the West Cornwall junction near
Truro, and which, after considerable competition,
was, under the advice of Mr. Brunel, given to the
Messrs. Sharp and Son at prices which were within
the estimate of the engineer. The contractors have,
the directors state, entered upon those works, and are
proceeding with them as rapidly as they can bring i
their plant upon the line for that purpose. The di-
rectors,
having given instructions for the preparation
of all the materials to construct the bridge at Saltasb,
contemplate with satisfaction the earliest possible
commencement of all the heavy works on the line.
The resumption of active operations by the com-
pany having rendered it essential that the direc-
tors should have the assistance of a compe-
tent secretary, they have great pleasure in having
been able to secure the valuable assistance of Mr.
Bond, whom they have re-appointed to an office in
which he repeatedly received the thanks of the pro-
prietary, and they recommend that a salary of 3001.
per annum shall be granted him until the line he
opened for traffic. The directors also refer with great
pleasure to the fact that by determined energy the
West Cornwall line has been completed and opened,
but they state that, " useful, however, as this under-
taking
is to the western part of Cornwall, it cannot
realise its fullest result until it receive the traffic of
the Cornwall line, and of the general system of rail-
ways to the eastward." The directors, after referring
to the rigid economy pursued, conclude their report
by stating, " that they have every reason to be satis-
fied with the policy which dictated the suspension of
the railway for three years, and have now the high
gratification of seeking its completion under greatly
improved circumstances, and with the fullest expecta-
tion of securing for the shareholders a satisfactory
return for the capital invested."
The statement of accounts appended to the report
showed the total receipts to have been 218,7021.
11s. (id., and the disbursements 205,6021. Is. Bd.,
which left a balance in the hands of the bankers of
13,1001. 93. 103.
The CHAIRMAN, in moving that the report of the
directors be adopted and circulated amongst the pro-
prietors, stated that he was glad to announce that the
shareholders' list was now placed on a most responsible
footing, and that the strictest economy in all the
branches of the company's expenditure would be car-
ried out. A great number of shareholders who
formerly held back had come forward and readily
taken up their shares ; but still be had to announce
that the proprietors would be called upon to confirm
the forfeiture of 9,328 shares, standing in the names
of parties who, from bankruptcy, insolvency, and
other causes, were unable to carry them on. lie
could also assure them that the undertaking would
now be carried on and prosecuted with energy; and
that from the low rate at which the first contract
was let, the whole line would be constructed on terms
which would render it a profitable investment. He
concluded by moving the adoption of the report.
A PseoFRIETOR seconded the motion, which was
carried nem. con.
Several shareholders then addressed the meeting,
especially in reference to the commencement at an
early period of the works between Falmouth and
Truro, and a great anxiety was manifested for the
energetic prosecution of all the works on the line.
On the motion of the CHAIRMAN, resolutions were
adopted for forfeiting 9,328 shares, and for appointing
Mr. Bond secretary of the company.
IThanks having been voted to the chairman and di-
rectors, the meeting terminated.

BRITISH ELECTRIC TELEGRAPH COMPANY.
Yesterday the annual meeting of this company
was held at the office, Royal Exchange; Mr. J.
Simpson, C.E., in the chair.
Mr. &MAIM, the secretary, read the directors'
report, which stated that since the last annual meet-
ing the company had concluded arrangements, on fair
and mutual terms, for occupying the Leeds Northern,__e
Stockton and Darlington, Newcastle and Carlisle,
Glasgow and South-Western, and a portion of
e
Midland Railways, in addition to the Lancashire
Yorkshire. A complete junction of all thteolwnds,in,ga
commercial, shipping, and manufacturingny,
the north would be effected by the comps
graphs in course of construction, opening
at tetihe;
same time, from Leeds northwards toorrlitlaoi
ds laere,d a. n re
portant district not previously
tween Liverpool and Leeds little was rtehqoustlettowcoormk-s
plete the company'
in those towns ands
the district would be ready
INlllnsiensc'dheexseteerP; for this the iron
piping was being cast, an
Between Leeds and
few wee
for opening in a
Stockton the line hadoLbeen satisfactorily at work for
eeds Northern BAHR ay
some time. for ',.tt
hwas thought desirable not
Company, butthei
P
tionpublic so isolated a Por-
to open lineto ntil the Lancashire and York-
shire leonfgth u
(from Leeds to Liverpool) is completed,
an—
.l when this was done, the Leeds northern district
would be at once connected therewith. On tie
Stockton and Darling,on the works were prcc-edir g
apidly, and will be completed by the end of the
rweek. The works on the Newcastle and Carlisle
and Glasgow and South-Western were proceeding
with expedition. In three or four mouths time the
company would have in operation this important dis-
trict of telegraph, and coupled with the small cost of
management and construction, expected on it a fair
return. The company had not lost sight of the im-
portance of securing a communication with London