The Sun.
London, England, 1839-04-22 00:00:00

THE SUN, LONDON, MONDAY, APRIL 22. 1819.

SOUTHAMPTON DOCKS.

A meeting of the Directors and Proprietors of the
Southampton Dock Company, took place on Thursday,
at the George and Vulture Tavern, George-yard,
Lombard-street, for the purpose of receiving the Report
of Mr. W. Cubitt, and Mr. W. C. Mylne, the engi-
neers, to whom the Dock plan and specifications had
been submitted.

The chair was taken at twelve o'clock, by Josupti
LIGGINS, Esq., Chairman of the Board of Directors,
who read the notice calling the meeting, and the Report
and resolutions adopted at the previous meeting.
The CUAIRMAN then said, since he had the honour
of occupying the situation which by their favour he now
filled, his practice had uniformly been to address a few
remarks to them at that stage of the proceedings ; but
as they were assembled on the present occasion
f r a special purpose—as they were not met to
present a report from the Directors to the Share-
holders, but to receive that of the eminent engineers who
were then in attendance, he would reverse the order of
proceeding, and read their Report in the first instance.
The CitatiotaN then read the report of the engineers
as follows :

London, March 30, 1839.

Gentlemen—At a Court of Directors held at the Com-
pany's Office, No. 26. Austin-friars, on the Ist of March,
1539,
It was resolved—
" That the Dock Plan and Specifications now on
the table be submitted forthwith to Mr. Wm. Cubitt,
end Mr. W. C. Mylne, Civil Engineers, for their
joint opinion thereon, after inspection of the ground ;
and that they be directed to report upon its merits
to the Court as early as may be possible."
In consequence of the above resolution of the Court,
which, together with the plans, specifications, and queries
to which it refers, were duly forwarded to us on the 7th,
we took immediate steps for an inspection of the dock site
at Soutlizmpton, and proceeded to that place on the 15th
(the day of the new moon), in order to avail ourselves of
the spring-tides during the three following days.
At Southampton we were met by Mr. Giles, your en-
gineer, from whom we received every attention and in-
formation:relative to and explanatory of the plans; and
with him took a view, both, at high and low water (parti-
cularly the latter), of all the shore-lines round the pro-
posed dock site, and on both sides of the river Itchen,
above and below the floating bridge; and examined the
soundings, borings, and other matters connected with the
proposed object, with a view to our more clearly under-
standing the plans and specifications put before us.
We had also the advantage of some interviews with

Captain Ward, the only one of your Directors, we be-
lieve, then present at Southampton ; whose information
and polite attention we have much pleasure in acknow-
ledging.
Adverting again to the resolution of the Court, and,
with reference also to a string of queries which accompa-
nied the plans and specifications, it would appear that the
former directs us to report upon the merits of the plan as a
whole; whilst the latter, if answered seriatim, would b•
merely giving opinions on construction is detail, as sup-
posing the general plan, on which the questionsare founded,
to be already fixed.
Now, although we should have no difficulty in replying
to all the questions in the affirmative, and agree in opinion,
that the whole plan of docks, as laid down on the plan, is
well devised, and would form a most magnificent commer-
cial and maritime accommodation as a whole ; yet we
might set about obtaining the same ultimate result, by a
different mode of proceeding to that which might be
either proposed by your engineer, or contemplated by the
Directors.

In order, therefore, to save time and words in a long
verbal description, we have prepared a plan, or more pro-
perly, a sketch of the manner in which we should proceed
to carry into effect this great work, so as to obtain a com-
mencement of business and return for capital expended in

the shortest time, with the least risk, the smallest outlay,
and the utmost convenience to the public, both as regards
steamers and sailing-vessels.
To obtain these desirable objects, we recommend that an
open entrance basin or tidal dock of 12 to 14 acres area.
and 13 feet deep at low water of spring tides, be first
made on the north-east angle of the dock ground; with
an open entrance from the river Itchen, the mid channel of
which, to the dock entrance, would have to be dredged to
a depth of 18 to 19 feet below low water—a measure of
very easy execution.
The north, north-west, and western sides of this basin,
to be wharfed with good stone quays, and the southern
and eastern sides, as also the entrance, formed with
sloping shores and secured by embankments, with the earth,
excavated in its formation ; the residue of which would
also go to embanking off and securing the whole of the
dock property, ready for its gradual and final appropriation.
On the N. W. side of this dock, or tidal basin, provision
should be made for a lock into a floating dock hereafter to
be described.

Now it is evident, that on the completion of this dock,
which is both simple and economical in its construction,
the port would be eligible for the reception and accommo•
dation of the largest class of steamers, and for all sailing
vessels up to 18 feet draft of water, that might be disposed
to use it. There would be upwards of 1,500 feet in length
of stone quays, 200 feet wide, contiguous to the high road
and very near the railway terminus, and suitable for sheds,
warehouses, cranes, roads, and every loading and unload-
ing accommodation. This dock or tidal basin is coloured
blue in the accompanying plan.
The next step we would recommend, is the construction
of a close or floating dock, 1,000 feet long, 400 feet wide,
and its bottom 20 feet below the high water line of the
lowest neap tides, in continuation of the dock or tide-basin,
and communicating therewith by means of a lock 180 feet
long and 40 feet wide between the walls and gates ; with
its upper sill 20 feet below the top water level of a low
neap tide. This dock to be wharfed all round with stone
quays, and provision made for a future communication with
the dock marked on Mr. Giles's plan as the " Western
Dock," which in the mode of proceeding we propcse,
would be the next dock in succession of construction as the
wants of the trade might require, and after that would fol-
low the great South Eastern Tidal Basin of th• same size
and position as laid down on Mr. Giles's plan, the arrange-
ments of which, and the Western Dock, we see no reason
to alter or amend.

It till be observed, that in this mode of proceeding the
interior portion of the dock ground shown on Mr. Giles's
plan, as reserved for ulterior objects, such as additional
docks, building-slips, graving docks, timber ponds, &c. &c.
as may be found requisite, is scarcely touched upon, and
the little that is taken is for dock room of the most valu-
able kind, in tho best situation.

It will be also observed, that in the angular space be-
tween the North Western Dock (coloured red), and the
proposed West Dock, ample room will be afforded in the
moat convenient situation, for the erection of a dock-house,
and offices suitable to the ulterior extent and magnificence
of the concern.

Access to the interior ground will be had by means of
;wing bridges over the locks, and communication between
the respective docks. .

In carrying out this measure by the progressive method
above recommended, there is n thing new, untried or
hazardous to be performed ; no extensive piling or
timber works under water to be destroyed by the
worm ; no erections upon doubtful or unsound foun-
dations;—as the situations in which we propose to
build the quay walls, are in the soundest ground,
with a known good substratum for foundations, as (well as
being in the most convenient situation for an infant trade :
—whether as regards proximity to the roads, railway sta.
tion, or the town of Southampton ; and moreover we have
no hesitation in stating, as our deliberate opinion, that
within a period of two years, and not exceeding an ex-
penditure of 200,0001., by judicious arrangement, the
Dock Company may be in the receipt of an income from
their works.

We have the honour to be, Gentlemen,
Your obedient servants,
W. CURITT,
WILLIAM C. MYLNE.

The CHAIRMAN said, that was the report of the
eminent Engineers, to whom the question had been
referred, and he would add that it came before them,
recommended by the unanimous approval of the Court
of Directors. There was not a shadow of differecce of
opinion prevailing among them, as to the great ad-
vantages which would result to the Proprietors,_ from the
adoption of that plan, and it was their earnest hope
that it would meet the cordial and unanimous approval
of the Meeting. It would be in the recollection of
many Gentlemen present, that when they were last
assembled together, an Hon. Proprietor, then present,
put a question to this effect—what will be the amount
of the return you will be able to give the Proprietors
in the event of the docks being full of ships? The
question on that occasion could be answered only in
general terms ; and he now felt it his duty to answer it
more specifically, and he would remind the Proprietors
that in an early stage of the proceedings of the
Company, when the Provisional Committee was
appointed, they stated their belief that the Company
would derive a return on the amount of capital invested
of not less than 15 per cent. In the circular of the
Ist of August, 1838, bo which his (the Chairman's)
name was attached, that assurance was repeated in
nearly the same words. Since then further time had
been afforded for reflection, and he had felt it his duty
to ascertain whether subsequent information would war•
rant that Et itement, and having had tha advantage of
further time for deliberation, he was now enabled to
Come before them and state that he would undertake to
stand upon the faith and integrity of that declaration.
He did believe that at some future day the Directors
would be enabled to make them a return of 15 per
cent.--(Hear) Having entered into certain calcula-
tions, perhaps he might be warranted in assuming a
larger dividend, but perhaps it would be quite sufficient
at present to say that he conscientiously believed
the engagement they had given the Proprietors
would be fully realized. The question put by Mr.
Hall at the last meeting, was what he already stated,
and he had gone into a comparison of the returns made
by other Dock Companies, because by their Act of
Corporation they were empowered to charge the same
amount of rates as were now payable by all persons en-
gaged in commercial pursuits in the port of London. He
had gone, perhaps, further than he was warranted by the
report of these eminent Engineers in assuming a larger
outlay than 200,0001. It would answer his purpose if
he assumed that, as they proceeded with the work, they
would find, that with a view to make the docks as
complete as they could be made, an additional outlay
of 100,0001. would be required. He would assume,
therefore, notwithstanding what had been already sub-
mitted to them in the Report of the Engineers,
that these Docks would cost 300,0001., and his answer
would be confined to what the return would be upon
300,000/. Now the area of water in the north-eastern
tidal dock would be thirteen acres, and the area of

water in the close dock nine acres, making a water
surface of 20 acres for the capital of 300,000/. Now, if
he assumed that, as was the area of water in the docks,
so is their capacity for business, he would compare that
with docks already in existence. He found the capital
of the West India Dock Company was 1,350,0001.—the
West Indi I Docks contained 55 acres of water, and if
55 acres of water surface gave an income of 63,000/.
per annum, in such a case their 22 acres would give an
income of 55,2001. per annum, or nearly nine per cent.
upon their capital of 300,0001. The London Dock
Company had a capital of 3,938,300/., and these
decks contained twenty-seven acres of water. If
then, twenty-seven acres of water gave an income
of 117,053/ per annum, 22 acres would give an income
of 95,376/. per annum, being 314 per cent. upon the
capital. The St. Katherine Docks contained an area
of 11 acres, with a capital of 2,182,000/., and an annual
income of 101,640/. Then if 11 acres gave such a re-
turn,
22 acres would give an annual income of 203,280/.,
or 67i per cent., as a dividend upon the 300,000/. Sup-
pose lie took a general average of the whole water area of
the West India, London, and St. Katherine's contain-
ing 93 acres. He found the income was 281,369/.,
which for 22 acres, of water would give an income of
66,6374, or 22k per cent. upon the outlay of 300,000/.
He thought it right to travel a little further, and take
the evidence of Liverpool, which was the second port in
the empire. He found that the Commercial Docks
there contained a water surface of 112 acres,
and that their income per annum was 160,9941.
If, therefore, 112 acres gave that income, 22 acres
would give an income of 31,6241., being a ei
vidend of 104 per cent, upon the outlay, and it should
be borne in mind that the dock rates paid in Liverpool
were considerably lower than the rates the Southampton
Company were authorised to charge. It was possible
to meet the question in a more practical point of view
without going into a comparison with other Docks, and
he would endeavour to answer the question more &fini-
tively, the question being what return the Docks would
give, supposing them full of ships. That question he
could answer from the daily operation of his own affairs,
and gentlemen connected with the shipping interests
would not be of opinion that he had taken an unfair
average in the statement he was now going to submit.
He had assumed that their docks were capable of pro-
viding accommodation, conveniently and comfortably, in
single tiers of so many ships of 400 tons burthen. Some
gentlemen might think that that was perhaps too
large a size, and he (the Chairman) hoped most
sincerely that they would have very many smaller ones
and be would be disappointed if they had not. Gen-
tlemen were aware, as he had repeatedly told them, that

•
they would have the New York vessels at Southampton,
which were vessels of 600 tons burthen, and these anti-
pations had not been shaken by anything that had yet
appeared ; and he thought it only reasonable to expect
that they would have some ships of even larger ton-
nage. There were, therefore, fitir and reronable
grounds for indulging in the hope that they would have
many ships of a greater burthen than 400 tons as well as
the New York liners. If he was justified in that anticipa-
tion,4oo tons must be considered a very fairaverage. They
had the power of charging the sane amount of dues as
the vessels now paid in the London Docks, and he
bad it in his power from the daily operation of his own
business to state what was paid in London. The Dock
rate on a 400 ton ship, at 2s. Gd. per ton, was 501.
The amount of goods brought, be would suppose, by
a West India ship, for be was in the West India trade,
and had made his estimate according to the usual course
of his own business, was 9,640 cwt. There might
be others which did not pay quite so much.
The dock-rate and charges upon 9,640 cwt., at Bd.,
would give 321/. Gs. Bd., making together a sum
of 3711. 6s. Bd. Now, their close dock would ac-
commodate., and they would be able to unload
thirty ships per week. That would give them an
income of 11,140/., and if they multiplied that
amount by the number of weeks in the year, they
would have the extravagant sum of 579,2801., being
very nearly cent. per cent. on the amount of
capital invested.—(llear, hear.) Of course, they
would not be justified in entertaining the sanguine
expectation that their Dock would be always fa. He
would leave it to the gentleman who proposed the ques-
tion to make what reduction he pleased, but the ques-
tion baling been put of what return they could show,
supposing the Docks were full, that was his answer.—
(Cheers.) He thought it fully bore him out in the
statement he had made that it would be in the power of
the Directors at some future day, and that not a very
remote one to give them a return of not less than 15
per cent.—(Hear, hear.) He was now in the hands of
the meeting and he presumed some Hon. Proprietor
would bring the question fairly before them for discus-
sion.

Mr. HEATIIFIELEI begged to remark that one passage
in the Report assumed that the plan of a tidal dock
was new to the Directors. He begged to state that
the plan had been made the consideration of the Di-
rectors for a considerable period ; so that in the present
case the Directors and the Engineers jumped together.
Mr. PEPYS had very great satisfaction in hearing the
Report which had just been read. He was also glad to
find that the Directors were of opinion that the time
was arrived when some progress should be made in the
works. At the last meeting the general opinion appeared
to be that they were undertaking too much ; he was
now satisfied that the arrangement which had been
laid down would meet the approval of all, and under
these circumstances he would take the liberty of
moving a resolution to the effect that the meet-
ing approved of the course adopted by the
Directors in having submitted their plans for the
consideration of Messrs. Cubitt and Mylne, and that
the recommendation of their eminent Engineers to con-
fine the operations of the Company, in the first instance,
to the formation of a tidal basin of fourteen acres area,
at the north eastern angle, and a close dock of nine
acres in connection therewith, having a depth of water
at the entrance from the river Itchen, of not less than

eighteen feet of low water, spring tides, involving as it
did, the utmost efficiency for the early wants of the
trade, and at a reduced cost of expenditure, as com-
pared with that required for the larger dock, is emi-
nently entitled to the consideration and approbation 1,1
the Meeting. That the Directors be authorized
to take steps to carry it into effect with that vigour and
promptitude so essential to the interests of the share-
holders, in the full confidence that the 6,492 shares dis-
posed of would furnish a sufficient amount of capital for
that purpose.

. .
Mr. LABOUCHERE would second the resolution with
great pleasure, premising that the Directors would take
care not to enter into a contract to carry on the work
until the shares subscribed for had been paid up. He
hoped it would be understood that they would not
enter into any pecuniary engagement until all the
calls on these shares had been paid up. He wished
to have the opinion of the Chairman on the course
which ought to be pursued.
The CHAIRMAN had no hesitation in stating the
course which the Directors, in the exercise of their
discretion, felt bound to advise. The resolution as-
sumed that G,49 shares had been already subscribed
for. It had been impossible to get the calls paid up on
the shares which were in arrear, but he apprehended,
after the proceedings of that morning, that the course
the Directors should take would be to enforce the pay-
ment of tho calls of those parties who were able to
pay, and to forfeit the shares of others who were not
able to pay. The Directors, however, were of
opinion that they would shortly be enabled
to
shareslaee
the whole of the five hundred unappropriated
be enabled
so that should .500 be forfeited
to replace them. The Hon. Po
n. . theyr wouldprietor might rely
upon this, that the Directors would !tat embarrass either
themselves or the Company by entering into any con-
tract until they were perfectly satisfied that they would
be able to complete it.
Mr. LABOUCHERE thought if they once bound them-
selves by a contract, they were bound to fulfil it—it
would be all well if the Directors could state that these
shares would be paid up which were at present in arrear,
but he thought it a hard thing upon the Proprietors in
general, to enter into a contract when only a portion of

them had paid up their shares. _
The Cparamasr thotlght the Proprietors had an
earnest for the course they should take, by what they
had done on previous occasions.—(llear, hear.) He
would remind the Hon. Proprietor that they had al-
ready entered into a contract for the construction of a
western dock, provisionally only, and that contract
would now be at an meet-
ing would remind the meet-
in that Messrs. Cubitt and.; Mylne were present to
answer any questions that might be proposed to them.
Mr. LABOUCIIEME suggested that they should add
to the resolution the words " when the arrears were
paid up."
observed that that would form
A PROPRIETOR - won,. a
capital of 320,000/. odd, whereas the amount required
by the Engineers' report was only 200,0001.
Mr. FOSTER thought it right to state his opinions
upon the present question. He was the representative
of his deceased brother, and at the last meeting he
did not feel himself justified in paying up
D all
i-
the calls upon his shares, believing that the
rectors had not the power to enforce them. Tl:e
present Shareholders held their shares upon
the understanding that they would be called upon pro
rata only for their proportion as connected with 7,000
shires. He thought it .was a dangerous system to
attempt to carry on this undertaking until all the calls
had been paid up. He begged leave to ask the Chair-
man or the Solicitor of the Company, whether he did
not feel that his (Mr. Foster's) position was a strong
one ? But the Directors had not the
power
to enforce payment, and, if so, it was necessary
to pause before they would proceed.
Mr. SNIITII, the Solicitor for the Company, begged
to state that he thought the Company had full powers
to enforce the payment of these shares.
Mr. FOSTER—Suppose only one moiety of the shares
were paid up, could the Directors proceed to enforce
the call ?
Mr. SMITH—They are obliged by the Parliamentary
contract to have a larger amount subscribed for.
The CHArauaN begged to make one other remark.
He did not think it was necessary to appropriate the
whole of the shares, more especially as the alteration. in

their plans enabled them to carry on the undertaking
without so large an amount of capital as they were au-
thorized to raise under their Act of Incorpora-
tion. The Act authorized them to raise a sum
of 350,0001., but had the sum been 1,000,0001. it
would be absurd to suppcs-i that they should be
restricted from proceeding with the works until
the whole of the shares to the amount of 1,000,000/.
had been disposed of. There was not the slightest doubt
that they had complete power to enforce the calls on all
these shares if they thought fit to do so. He did not then
entertain the slightest doubt but that the whole of the
7,000 shares would be appropriated, and he regretted
that he himself was not able to take the .500 shares still
unappropriated off their hands.
Mr. LABOUCIIERE did not say that there was any
necessity for appropriating the remaining 500 shares,
but he thought the arrears should be paid upon the
chat e; already subscribed for.
Mr. HEATIIFIELD would rather discuss that ques-
tion in the light of a social compact than as a
legal obligation, and he hoped it would not be neces-
sary to have recourse to any legal proceedings.—
(Hear, hear, hear.) He would be sorry to see
the duty cast upon the Directors of appearing in
a Court of Justice. It would be satisfactory that all
the arrears should be paid up, and it was extremely
in-
convenient to place the Directors in their present posi-
tion. He hoped that it would be considered as a pre
liminary step that the shares should be paid up, and
with the prospects they had—with a favourable
report of the Engineers—with the facilities at their
command—with the small amount of cal ital re-
quired, and the large return they could reasonably
calculate upon ; he had no doubt that all obstacles to
the progress of the undertaking would be removed ;
he regretted to find that the Southampton Railway
Company had not come forward to give a more decided
support to the undertaking. It could not be forgotten
that upwards of two millions of money was embarked
in that Railway, and no man could deny that it might
fairly be expected that a large increase of revenue would
be secured to that Railway from the making of one, and
still snore from the making of two or three docks, from
the aggregation of trade that would be induced in that
direction. He was unwilling to make any proposition
that might be calculated to embarrass the Directors or
the Company, but he felt most anxious that the Parlia-
mentary Share List should be made up in the first
instance ; or if not that the shares should be forfeited.
He believed that would be the true way to benefit the
interests of the Company, and he hoped that some pro-
position to that effect would be made.
Mr. LABOUCHERE asked, could they not add to the
resolution " as soon as the arrears had been paid up."
Mr. HEATHFIELD said, the operations of the Di-
rectors had been much embarrassed from the non-com-
pletion of the share list ; in fact those in arrears
should have bean put in a course of forfeiture.
Mr. RICHARDS was happy to agree in what had
fallen from Mr. Ileathfield, and was sorry the senti-
ments expressed by him had not been acted upon from
the commencement of their proceedings. He had
been opposed by that gentleman when he was in
the Direction, but since then, it would appear, he had
seen reason to change his opinions.
After some further discussion, it was proposed to
amend the resolution by adding that no contract should
be entered into until five-sixths of the shares had been
paid up.

The CHAIRMAN said be had not the slightest doubt
that in a very short time, all the shares at present un-
appropriated would be placed. There was therefore
little fear that the whole of the capital required, would
not be at the disposal of the Company. Perhaps the
best way to commence would be to take among them-
selves some of the 500 shares remaining unappropriated,
and by way of setting an example, he would himselt
take 20 shares.—(Cheers.)
Several other Gentlemen desired their names to be
put down for 10, 20, and 30 shares each, and about 150
shares were taken on the spot.
The resolution was then put by the CHAIRMAN, and
carried unanimously.
Mr. PEPYs said it would be impossible for the meet-
ing to separate without returning their best thanks to
the Directors for the zeal and attention they had be-
stowed upon the affairs of the Company.(Hear.)
The motion having been seconded was passed una-
nimously.

The CHAIRMAN returned thanks on behalf of him-
self and his brother Directors. He was sure they were
all deeply sensible of the kind manifestation of the ap-
proval of the Proprietors, and he trusted they would
continue to act in such a manner as to merit the further
confidence of the Shareholders.—(Hear, hear.)
The meeting then separated.