The Sun.
London, England, 1837-06-06 00:00:00

LT. n KELLY RAILWAY AND DOCK

COMPANY.

Yesterday a highly respectable meeting of the Proprie-
tors of the above Company was held at the London Tavern ;
R. BIDDULPII, Esq., M.P., in the Chair, said—Gentlemen, the
first duty we have to perform is for the advertisement conven-
ing the meeting to be read, after which the Report, informing
you of what we have done during the last year shall be read
to you.
J. Bien, Esq., Secretary, then read the advertisement and
the Report, of which the following is an extract:—
" The Committee stated last year they had well-founded
reasons for concluding, that on completing the Railway into
the stone coal district large quantities of produce would be
brought &win and handsome returns realized, that the busi-
ness on the existing short branch of two miles had increased,
and was, by a comparative statement, much augmented : and
the line had been set out for one or two contracts ; and that
the land required for these contracts had in most instances
been agreed for at moderate prices.
" That the iron rails, chains, stone blocks, oak sleepers, &c.,
with the cuttings of the embankment had been contracted for
under the original estimates, the conclusion of which was that
a considerable saving could be effected.—( Hear, hear.)
" Since last year, two, additional shipping stages had been
constructed on the most improved principle, making together
six stages for shipping, so that more extensive accommodation
might be had for the increasing number of vessels resorting to
the dock.
" That the great and indisgenshble desideratum to the success
of trade in and out of the dock and harbour, viz. : an efficient
towing vessel, has been provided, that a strong and powerful
vessel Las been built for the Company at Gravesend, and which
will be launched to-morrow (this day).
" That eon'tracts have been entered into for the cutting em-
bankments and general formation of the main line, fir 12 miles
and 34 chains, commencing at the dock at Llanelly and termi-
nating at Duffryn Lodge, thus fully entering into the district
abounding with stone coal. A branch leading from the main
line to Cwym Amman, and terminating at the Gerry Garnant
Collieries, is being levelled and reported upon—the
contract of which will be let in the course of one month
from this time. The Committee see no reason for
varying the conclusion which they had previously formed, that
the entire works for the nineteen miles, which will make the
Railway complete for traffic, will be completed by Midsum-
mer, 1838.—(Hear, hear.) That already 77,773 tons of coal
had been brought down the Railway, and a great part shipped
on the Dock, and additional pits were about to be opened by
the Llangenneth Coal Company, &c.,:with the opening of va-
rious other collieries belonging to Mr. Bruen and Mr. Lewes,
one of which works 20,000 tons annually. The Committee
have also ascertained that iron can be smelted with stone coal,
and that parties are about to erect iron' works in the neigh-
bourhood of the Company's property—(Hear, hear)—which,
with the quantity of mineral to be found in this part of the
Principality will greatly increase the revenue of the company,
added to tee great and increasing demand for coal in Llanelly;
and further, that the profit upon the two miles of the line now
completed, leaves a considerable balance in favour of the Com-
pany on:such;small retures." A financial statement of the
Company's affairs was then laid before the meeting, when it
appeared there was a balance in hand of 647/. 13s. 5d., and
lastly the Committee congratulated the Proprietors upon the
rapid progress of the works and the certain completion under
the estimated expense, whilst the actual as well as the pros-
pective returns of revenue are equal to and in conformity with
the calculations previously made.
The CHAIRMAN—Ia the report tee have endeavoured to set
forth everything which we have done since our last meeting.
In that statement you will perceive we have purchased a steam
boat, which is to be launched to-morrow, and which we have
found necessary, in consequence of the numerous accidents
that occur in making the harbour up the long Channel. We
have felt it our duty to build this seesel for the purpose of as-
sisting ships to conic into dock, which they are often prevented
from doing for a long period, in consequence of the adverse
winds, and which is also often attended with great risk.—
( Hear. ) Should any proprietor wish to make an observation,
or ask a question, we shall be happy to give every information
in our power.
No one replying to this request,
Admiral WHITE rose and moved that "The Report be re-
ceived, printed, and circulated for the Proprietors."
Mr. ALLEN—In seconding the resolution I iseg to ask if
the tug vessel is to bo paid for by any other means, or to be
charged to the Company ?—( Hear, bear.)
The CHAIRMAN—I must say that I think eventually it will
not be a charge to the Company, for I believe it will be the
source of raising a revenue for the Company.—( Hear, hear.)
We propose that those vessels which do not enter our dock
shall be charged a tonnage fur towing them up the channel.
Admiral WHITE—What is the amount of the dock dues at
present received ?
The CHAIRMAN replied it was 3311. 12s.
Mr. S. BARBER—I wish to be informed whether in the
balance sheet there is any sum put down as a remuneration to
the Directors for their services ?
The CHAIRMAN—No; we felt under existing circumstances
we should not at present receive any remuneration. —( Cheeis.)
Mr. 'F. SHEAVELL—I think, with the Hen. Proprietor lelio
has introduced the subject, that some remuneration shocid be
voteci to the Directors.—( Hear, hear.)
Mr. Hien—l thiak we should not cell upon the valuable
time and talents of the Directors to einem: to the interests of
the Company without giving them some remuneration. lam
a friend to economy, and 1 approve of the spirit of economy
which has regulated the actions of those gentlemen. I will
propose then the question be referred to a Committee.
The CHAIRMAN--In giving my own opinion, I believe I
speak that of the Directors generally, that we have no wish
to be a charge upon the Company—( Cheers)—for what we
have done. We feel that so many shares not having keen
taken up as we had expected, the funds of the Company have
been circumscribed, and our progress has not been so rapid as
we might have wished. We must, therefore, decline any
remuneration. Not long since an engineer visited the scene
of our operation when he observed, we should have 500 men
at work. If this gentleman had informed himself still further,
he would hare learnt, 500 men could not have been procured
in the whole country. Had it been possible we should have
had them, and our progress would have been proportionably
rapid.—( Hear, hear.)
The resolution was then put, and carried unanimously.
Mr. CLIVE—I am to understand the Report will be printed ?
J. Sits, Esq.—That is in the hands of the meeting.
The CHAIRMAN—The resolution embraces that point.
W. BLOUNT, Esq.—l wish to refer the meeting to the
balance of 747/. e as a member of the Committee of Auditors,
I have gone through the Company's accounts, and can assnre
the meeting the books of the Association are kept in a manner
which reflect the highest credit upon their Secretary.—
(Hear, hear.) I will also draw your attention to the econo-
mical mode in witieh the whole of the Company's works
have been carried on. In the whole progress of Railway
Companies, there is not one whose outlay has, like
this Company's, been in every instance beneath the original
estimate.—( Hear, hear.) If we revert back to the commence-
ment of the last year, when these speculations were sought after
with avidity, our's, among others, was not neglected ; and had
the Directors wished, they might have forced their shares,
like those of other Companies, to a premium ; for no Company,
when the ground of their success was ma de clear, offers a
better chance of successful working and profitable return than
this.—( Hear, hear.) Our outlay has in every instance been
beneath the Parliamentary estimate—(Cheers)—and I have
no doubt but that we shall show a better face on its completion
than many others which at present bear a high premium in
the market, but which are gradually sinking to their proper
level.—( Hear, hear.) The favourable situation of our
line, communicating with matey large Coal Mines, the
town of Landillo Vaur, Esc., with the fact that we shall not
expend one half of our nominal capital, will insure to us a
double return of interest over the original calculation.—
(Hear, hear.) The Chairman has stated to you the advan-
tage of the steam-vessel which is just built, to be used as a
tug-boat, and which I have no doubt will be a source of great
profit to the Company, for vessels which were formerly de-
tained by contrary winds during a period in which they might
make the voyage to the Mediterranean and back, will now be
towed out of dock and down the Channel, let the wind be in
what quarter it may.—(Hear, hear.) I will now propose that
this surplus—which, according to the calculation I have made,
will be about 3 per cent. upon the subscribed capital—of 740/.
be divided in the form of a dividend. So that when the remaining
shares are taken, and the amount of calls due paid up—which
will no doubt be done before the completion of the line—
we shall all stand in the same position.—( Hear, hear.) I will
therefore now move—" That a dividend of Three per Cent. be
declared upon the present subscribed capital, to be paid on the
10th July next."
Mr. JOHN SHEWELL seconded the resolution.
Mr. ALLEN was opposed to the resolution. He felt it would
be bettor to wait another year.

After some desultory conversation, the motion was unani-
mously carried.
The election of Mr. Sims as a member of the Committee
was then confirmed.

A vote of thanks was now passed to the Chairman.
The CHAIRMAN, in returning thanks, observed that he had
lately made a visit to that portion of the country through which
the line of railway passed, and had made some calculation of
the advantage it would be, not only to the subscribers, but to
the public, by the conveyance of coal to the metropolis, where
they would find an excellent market for its sale, and by com-
peting with the Newcastle collieries reduce the price of coal,
FO that the consumer would be a great gainer, without injury
to any one, and the conveyance of it a great profit to the Corn-
pany.—(Cheers.)
.11014•SMINNII

A bung man was charged on Thursday with having
assault'bd and kissed a young woman. It appeared that the
complartant had been sent by a friend, Mrs. Small, to Shirley,
to exe4te some commission for her, and that while proceeding
on her way, the defendant, in spite of her resistance, attempted
to kiss her, and actually perpetrated the offence on a second
attempt. He was committed to Winchester gaol for three
months.—Hampshire Advertiser.
The Independent Congregation, worshipping at
Ebenezer chapel, Dewsbury, under the Ministry of the Rev.
George Waterhouse, have presented that gentleman with a
handsome silver tea caddy and a purse of gold, for his valuable
services during the last twenty years. —llalfrx Express.
Since the general election 32 peers, besides
bishops, have died ; and the vacancies, during the same perio,l,
in the House cf Commons, have amounted to GO.
One day last wee!: a young girl belonging to Fowlis
had been sent out to the fields with a fiery peat to the herd
bcy, and while on her way thither her clothes caught fire, and
her whole person was so severely burned before the accident
was observed, that she fluttered in a state of intense suffering
for about twelve hours, when death put a period to her pein,_
Edinburgh Courant.