The Sun.
London, England, 1863-10-27 00:00:00

NORTHUMBERLAND CENTRAL.

The first half-yearly meeting of this company was held
on Thursday at Alnwick—Earl Grey in the chair.
The report of the directors stated that the principle on
which the capital was originally proposed to be raised—
namely, by shares taken by landowners for the sake of the
increased value to be conferred on their property by the
railway, out of funds to be created on security of terminable
rent-charges oa their estates thus improved—had been deli-
berately adopted by a committee of the House of Lords, and
would in all probability be embodied in a general Act of
Parliament in the next session. If the total expense of the
line should amount to £6,500 a mile, and the working ex-
penses he 50 per cent. of the gross traffic, a weekly receipt
of £l2 per mile would pay 5 per cent. on the capital em-
barked. It was hoped that in every instance where land
was taken for the purposes of this local railway the owners
would consent either to take the ascertained value of their
land in shares of the company or commute it into a perpe-
tual annuity, and that tenants would likewise agree, on the
amount of compensation duo to them for interference with
their occupation, either by severance or actual abstraction
of the land, being ascertained, to take shares of the com-
pany to that amount. The contractors might thus be put
in immediate possession of the land, and the works pro-
gress without the usual vexatious and expensive proceed-
ings attendant on the acquisition of land taken under com-
pulsory powers of an Act of Parliament. If this were done,
and a moderate addition made to the share capital already
subscribed, amounting to 130,000, the contractors would
commence with a staff and plant which in 18 months would
complete the whole line. The directors had confirmed under
sea bf the company the contract for works and materials
with Messrs Waring at a lump sum of £270,000. The re-
ceipts by subscription to preliminary expenses amounted to
£3,048, and the legal Parliamentary and engineering ex-
penses to £5,036, leaving £3,011 as outstanding obligations.
The CHAIRMAN, in moving the adoption of the report,
said the undertaking was projected and supported solely by
those locally interested in the district through which the
railway was intended to pass, and on that principle he be-
lieved that a public and general Act would be passed in the
next session of Parliament giving to landowners the power
of charging their estates for the purpose of taking shares in
railways to the extent of the increased value given to their
land by them.
The report was adopted, and the directors and auditors
were elected. •

SALISBURY AND PEWSEY.
It is proposed to construct, a railway for the purpose of
forming a direct communication between Salisbury, Ames-
bury, Pewsey, and Marlborough. The proposed line's to
commence at Porton, a small place five miles from Salis-
bury, on the London and South• Western line, and will pro-
ceed thence through Amesbury to Pewsey, passing near
several populous villages on its route. It is understood that
the landowners through whose property the line is to pass
are all favourable to its construction.

STROUD AND CHIPPENIIAM.
A public meeting was held at Stroud on Saturday for the

It appears that the directors of this company have been
informed by their financial agent in Canada that the loss on
through traffic collected and converted ascertained up to
Oct. 20 amounted to the sum of 35,123 dols. (£7,2170) and
that there remained a further sum of American funds for
conversion at that date of 47,207 dols. In addition to which
there were balances in account with connecting railways
still unadjusted.