The Sun.
London, England, 1837-10-10 00:00:00

AGENCIES WANTED.
- -..- -
A GENTTLEMAN, who has a complete know-
er" ,i,edge of the FINISHING of all descriptions of
,MAN-
TiV-SIER MANUFACTURES, as also of the PRINTING
'ADE, would be happy to have the COMMISSIONS of a few
respectable Shipnin houses,either for the purchase Cr obtaining
ca"signment of ...,' no'gds.
Letters addressed X. A., 49, Cheapside, will be immed:atc!y
attended 'a
......_______L .

BRISTOL AND EXETER RAILWAY.
AT THE HALF-YEARLY GENERAL n A 11. E E T IIN.G of this Company, held at the MERCHANTS'
in the City of Bristol, on THURSDAY the 31st of August,

FREDERICK RICKETTS, Esq., in the Chair;
It was unanimously Resolved,
Moved by T. R. GUPPY, Esq., and seconded by GEORGE
; • That the JONES, Esq.
adoved Rrt of the Directors now read be received and
and epo that they be requested to print the same.
Moved by PETER MAZE, Esq., and seconded by E. W.
to? MILLS, Esq. ;
r:r That the best tha.-nks of the Proprietors he given to the Direr-
co
n.roarnlyh.eir very able and efficient attention to the interests of the
Moved by CHARLES B. Fuier, Esq„ and seconded by
MICHAEL HINTON CASTLE, Esq. ;
at 3. That the cerdial thanks of this Meeting he respectfully pre-
ett to the Society of Merchant Venturers, for their kindness in
gratttina the use of their Hall.
The FREDERICK RICKETTS, Chairman.
Chairman hanaving quitted the chair, it was taken by SA 3IL.
; d -
M. H. CASTLE, Esq., moved, and Wm. WATSON, Esq.,
h e
That tseconded;
Rir, hearty thanks of this Meeting be given to FREDEaICK
Rl`
Esq., for his able and excellent conduct in the Chair.
SAML. WARING,

REPORT.
tolutnnagfain submitting to the proprietors a concise but correct ac-
after tii° the Company's position, it is satisfactory, to the directors,
cult,ec lap'se of several months of aggravated commercial dift-
daoiTo ° aring with peculiar pressure on every undertaking depen-
that, the application of surplus capital, to be enabled to state
stalen-itth the exception of such a retarded payment of the last in-
a 5;.71. !as is necessarily consequent on the period, they have not
th:lle.fact to communicate which can otherwise than strengthen
nristosiitire confidence in the ultimate distinguished success of the
ne„„_,and Exeter Railway, hitherto entertained by all who are
res r't rated with its cheapness, its facilities, its security, and its
oiarees.
fullparticular facts establishing these advantages have been so
fully de
refr_.:reonstrated in their two former reports that the directors
valna_, from repeating them ; merely remarking on the additional
siessi' they derive from the defeat and abandonment, during the last
the Ilt),ssof Parliament, of every competing line betwixt London and
sieal tern Counties, and a moral certainty, arising both from phy-
the InPediments and the new requirements of the Legislature, that
~atroduction of any ether is effectually precluded.
iii_ltairce the last report two additional-contracts, extending to the
ead to Bridgewater, in the village of Lympsham, have been
tii"...ieve dint on terms advantageous to the Company, arising from
'4.,a- ure of the ground.
„mitt:. greater portion of the land is purchased on the 11 miles
hinlll_,l,,ed in the two first contracts ; and the contractor is availing
gres tif the favourable state of the weather to expedite the pro-
,* of the works.
'Plolts,-7,are, however, of the large amount of capital at present em-
°u yid 011. the numerous and extensive railroads in progress through-
ava,;o.e.kingdom, and desirous of giving the greatest effect to the
surface means of the Company, by not operating on too large a
eL at
Nate a time, the directors—though fully determined to corn-
coo till, line to Exeter—have resolved to finish and open such por-
all
is of it, commencing with Bristol, as will enable them to secure
`Veto al remuneration on the capital expended on its progress to
and r" and Uphill in the first instance, Bridgwater in the second,
geo, Taunton in the third, so that investment and return may, in a
to 14 iliegree, keep pace with each other. They purpose, therefore,
%mins t the scope of this report chiefly to an exposition of such cir-
opin!tances as will best enable the proprietors to form a correct
po,,tii_°° of the required outlay and ascertainable proceeds on these
~,,vtts of their expenditure.
tist.'abe estimates of their engineer, which have been hitherto so sa-
,tassitthic'irridlYs borne out by the contracts entered into for upwards of
of the distance to Bridgwater, and by the actual cost of
elostd airea,
iv purchased, warrant the directors in assuming that the
atotic 'Pening the line to that port, including the stations, loco-
- engines and every other expense, will, at the outside, not
ed thirty-fi; e pounds per share.
Iltiri.stating the dividend to be reasonably anticiputed from this ex-
handiture, they are so fully sensible of the extent of prejudice they
int'eereto encounter, arising less from the misrepresentations of the
4are 'tett, than from the inconsiderate assunaptions of a few who
mincll,lltaeonainted with' the facts of the question, and the credence
ed by the many to assertions to which they have never
ct. the proof, that the directors would feel the declaration. ofd
truth itself to be unavailing, unless supported by that species an
th4l:3ll,°t of evidence which they well know must remain unshaken by
,rieverest scrutiny.
t til.leY subjoin, therefore, as an appendix, an abstract, corrected
co,oue present time, of the traffic, proved before the Parliamentary
tratlatedroittee under the investigation of adverse counsel, and illus.
• by such references as can leave little room for doubt in
tatztids by
to the influence of testimony. To those who,
14-,rzled abyss
he celebrity which our great manufacturing towns
t' obtained from the magnitude and productions, rather than
th° travelling wants and habits of their population, conclude that
't ,".°, Must of necessity create an extent of intercourse, for which
"41 be vain to seek a parallel in the other districts of the king-
inin•it will appear remarkable that the coaches at this time daily
bet•wtxt London, Bristol, and Exeter, consider.ably. exheeed
L.' entire number plying between London and Thrilling am,
J'terP°ol, and Manchester, before the opening of the Grand
Ltan.tion Railroad. Yet such is the incontrovertible fact, as will
'elm by any one who takes the trouble to refer to the appendix ;
tkl it i 3 on this plain ground, together with the acknowledged
th e
aPness which natural facilities give to the construction of the
nUt 'istol and Exeter line, that the directors feel justified in holing
(2n to the shareholders the expectation of a dividend of 13 per cednt.
the outly before-mentioned to Bridgwater. To this it may be
'‘iled that it is the peculiar advantage of this line to open up new
sources of Profit in its progress, at such short successive distances as
:111 rarely be presented by any similar undertaking. The comple-
p;tof loss than ten miles will enable the company, at an ample
ducts ortr°l' included in the present or any estimate, to bring the pro-
vast coal-field into the city of Bristol, at a
.charge of one
close Per ton : twelve additional miles, which bring the line
mi,titie mouth of the Ax, and the natural harbour at Uphill
'mute), a line of communication betwixt the whole of the
Wif, \of Ireland (including, of coarse, the southern coast of
scar 3/2 and Bristol, and London, of which the most sanguine can
yjoee'Y calculate the advantageseleven miles
.more, bydear-
or jog; the line to Bridgwater, will necessarily render it the me turn
Nos. course between the Western Counties, and London, and the
the the °llgh, as the subjoined accounts will shew, the oubtla on
in hanks is beeoming heavy, the directors expect that the alayn.c.e
incr. aided by the instalment now in coucse of receipt, will
h -tit the necessity, for some months, of a further call on the
areholders
jetiNsl°llst of the. permanent charges to which the undertaking is sub-
Wouldaving been fixed under an expectation that the whole line
all bF"nnaltaneously in operation—and, under the feeling that
Possibl
aestly e economy should be exercised—the directors have car-
dnee:, applied themselves to the subject of retrenchment, have -e-
-stseie7 several branches of expenditure, an:l propose to relinquish a
the fir3's.t.°l the compensation, so liberally voted for their services at
general meeting.
4 ri(CllY Wei rhino- therefore, even, consideration, whether of
6.114„-c or Private nba'ture, which relates to this undertaking, the
Iviirt,--°rs feel its vigorous prosecution to be their highest duty, and
eeori la steadfast determination to fulfil it, cheerfully completion tot
°nee and support of all who are interested in its
Signed, on behalf of the Board.
August 31st, 18.37. FREDERICK RICKETTS, Chairman.

State BRISTOL AND EXETER RAILWAY.
Lteinent of Receipts and Expenditure, 30th June, 1837.
b'Posit 21 RECEIPTS.
°' . 102. per Share, on 14,988 Shares ...£37,470 0 0
12 reserved for
landowners

15,000
11114 Cell of 2/. 10s. per Share, on 13,978 Shares ... 34,945 0 0
12 reserved as
above
1,010 in arrear

15,000
Call of 51. per Share, on 4,670 Shares ... 23,330 0 0
• 12 reserved as
above
10,318 in arrear