The Sun.
London, England, 1837-08-16 00:00:00

EASTERN C

Yesterday a numerous Meeting of the Proprietors of the
above immense undertaking was held at the London Ta-
vern. At one o'clock, the Chairman, H. Bosanquet, Esq.,

accompanied by most of the Directors, entered, and di-
rected that the following Report be read :
" The year which has nearly elapsed since the last General
Meeting of the Shareholders of this Company has been one of

.
general pecuniary embarrassment, and consequently of severe
trial for all new railway undertakings. The Directors of the
Eastern Counties Railway have refrained from aggravating,
•

by any act of theirs, the pressure of this crisis upon their own
proprietary—preferring rather to wait the course of events
and the return► of better times than to press forward the exe-
cution of the undertaking to the inconvenience of those who
have embarked in it. The Railway, therefore, though not so far
advanced as it would have been had the Directors made those

periodical calls on the proprietary which the Company's Act
authorizes, but which the difficulties of the times seemed to
render inexpedient, has made as much progress as was practi-
cable with the limited means placed by you at their disposal.
" The balance of cash in hand at the last General Meeting
was 25,283/. 3s. 7d. By the call of 11. per share made at
that period, and some items of interest and rents, an additional
sum of 51,336/., ss. Bd. has been obtained, making the total
amount of capital which the Directors have had at their com-
mand during, the past year, 76,6691. 9s. 3d.
" In the purchase of land and various compensations in respect
thereof, and in defraying the expenses of the works in pro-
(Tress, and other necessary charges as specified in the balance
sheet annexed, the Board have expended 65,725/. 153. 7d.
" In their administration of the Company's finances the
Board judge it prudent to appropriate the whole of their
first available means to the execution of that portion of the
line, which will yield when executed the largest amount of
revenue ; and to this principle they will with your approbation
steadily adhere. The London and Chelmsford division is
that which will undoubtedly pay best; and the works
now in progress are those most necessary to be first executed,
with a view to the completion of that division—namely, the
bridges, viaducts and culverts by which the Railway is to be
carried over the Stratford Marshes, and the tide-waters by
which they are intersected.

" The Unstable character of the soil on which these struc-
tures were to be erected, gave rise to some apprehensions ; but
the Directors are happy to say that these entirely vanished
in the progress of the works. Good foundations have been
every a here obtained, though at some places not without
a heavy expenditure of labour and materials. Should the
remainder of the present working season prove as favour-
able as that portion of it which is past, the whole of the
works now uEder contract will be completed before the close
of the month of November.
66 Some parts of the land required for the London and
Chelmsford division are protected by clauses of the Com-
pany's Act wli:ch provide that they shall not be entered upon
without the consent of the owners, first had and obtained ;

but the Board have the pleasure of informing you that they
have arranged with the whole of these parties the terms on
which they will give suck consent.
Other parts of this division there are, the Proprietors of
which have no such protecting clauses, but who allege that by
private agreements entered into pending the Bill they are en-
titled to exclude the Company, until certain enormous penal
sums are paid them by way of compensation. The Board al-
lude to the cases of Lord Petre and Mr, Labouchere. They
have full; investigated the circumstances of these cases, and
have takers the advice of Counsel eminent in the law upon
them, and they are well satisfied that, neither in honour nor in
justice, are the alleged agreements binding on the Company.
Instructions have accordingly been given to the Company's
solicitors to take immediate steps to remove any impediment
which the opposition of these parties may possibly throw in
the way of the Company's operations.
" The objection which two months ago seemed still to exist
to the making of peremptory calls on the shareholders led to
the suggestion to the Board of a plan founded on the 169th
section of the Act, which authorises the shareholders to pay
in advance the amount of their shares or any part thereof, and
the Directors to allow interest on such advances at the rate of
41. per cent. The nature of this plan and the considerations
which led the Directors to think favourably of it were fully
set forth in a series of resolutions passed by the Board on the
27th of June and 4th of July last, a copy of which was trans-
mitted to every registered shareholder. From the com-
munications which the Directors have since received
on the subject et' this plan they find that, although approved
of by many of the Shareholders it is objected to by so consi-
derable a number that it would be inexpedient to recommend
it to this meeting for adoption.
" The Directors have now, therefore, resolved to make an
immediate call of another 1/. per share, which they trust will
be responded to with cordiality and promptitude.
Subsequently to the last general meeting a vacancy in the
direc:ion having arisen through Mr. Clapham's becoming a
party to a contract with the Company, and a representation
having been thereupon made to the Board by a numerous body
of the Liverpool shareholders, that they wished an addition to
be made to the number of Directors from that place, the
Board have willingly availed themselves of the opportunity
thus afforded of electing Edward Cropper, Esq.
" The Board, in compliance with the provisions of the Act,
annex a detailed statement of the receipts and expenditnrc of
the Company up to the 4th July last."
(Signed on behalf of the Directors.)
In answer to a question put by a Proprietor: •
The CHAIRMAN said their undertaking would not be
affected by any Bill now to be brought in to regulate Rail-
roads—the Clause introduced by the Duke of Wellington
made them liable to the provisions of any Bill which might
have been introduced within a year after their Act passed.
No such Bill had been introduced—the year had expired,
and the Proprietary were entitled to the whole benefit of
tine great stream of traffic which the Railroad would be
sure to command.
The Engineer (Mr. BeAmiwAtre) stated that the whole
line from London to Chelmsford would certainly be com-
pleted in two years, and at an expense of about 570,000 h
It certainly would not exceed that sum, as that estimate
included a considerable allowance for contingencies.
The Report and these observations were received with
applause ; and, on the motion of Mr. Fish, the Report was
unanimously received and adopted.
' A vote of thanks to the Chairman and Directors Wei
unanimously carried, as was one to the Secretary, Engineer,
and other Officers of the Company, when the meeting broke
up, apparently highly pleased with their prospects.

PRICES OF STOCKS THIS DAY AT ONE O'CLOCK.
Bank Stock
210% , India Stock 259
par Cent. Red. 92%% % ;Ditto Ponds
3 per Cent, C0n5......... —91% 2 1N South Sea Stock 3,,, per Cent...".
Ditto Red........... 100% 99% I('A% ' New Ditto —
New 3% per Cent. 9911% N' 3 per Cent. Annuities, 1751 —
New 5 per Cent.. ........ ..... ... —.Exch. Bills, .£l,OOO 46 49 pm.
Bank LongAnnuitiestoexpCre Ditto 500 46 48 pm.
Jan. 5, 1861) 15% 1-16% Ditto Small
Oct. 10 1859 l4 15-16 Ditto Commercial.....,.. pin
Jan. 5, 1860 — t Ditto Advertised Pw.
Jan. 5, assn • Bank Stock for Account „.....
April 5, 1990............ ........ India Stock for Account. .--
Jan. 5, 1870 — Consols for Acconnt ..... ..... .92 I%
Orrinium — Pm.

PRICES OF FOREIGN FUNDS THIS DAY AT ONE O'CLOCK.
Austrian Bonds ~,••
•...'•».......»•• —' Peruvian Londs
Belgian Bonds —l Ditto •Account ...... ....... ....
Ditto Account —, Portuguese 80nd5..................
Brazilian Bonds ............
Ditto Account ........ ...... .. —1 Ditto New Bonds ',874% 914
Buenos Ayres Bonds ....... . Ditto, 3 per cent. 24%,
Ditto Account... ....... ...... Ditto Account.... 25%
Chillian Bonds ............... ' Prursian Bonds.. ............ .......
Ditto Account ........ ....... --1 Russian Bonds, 1822 —
Columbian 80nd5................ Ditto Account ..........
Ditto Account —.
—' Ditto Metallic ...... ...........
Columbian Bonds, :821 25 4y, Spanish Bonds —
Ditto Account i Ditto Account ... —
D midi Bonds ... .. ...... ..... —, Ditto Bonds,lB3l. 20%
Ditto Account ..... ........ .... Ditto Account —
Greek Bonds. .. ...... ........ .... --. French, 5 per cent......... —f. —c.
Ditto Bonds, 1825 ..... . ...... —1 4 per cent —f. C.
Ditto Account .... ....... ...... 3 per cent. —f. —c.
Mexican Bonds, 5 per cent... I --- Exchange
.--
—f. —C.
Ditto Account .......... .... Dutch, 24 percent.
Ditto, 6 per cent. ...........24% it , Ditto Account —
Ditto Acc0unt.'.............. ' Ditto. 5 per cent. 1e24%
14 ealxtht"..--“,.........--- —' Ditto Account
PRICES OF SHARES THIS DAY AT 01!/ O'CLOCK

Brazilian Imperial Miffing Co. (Issue
United Mexican ((Issued at •V. pm.) ..
Great Western Railway Company....
South Brighton, Lewes, and Newha'

COURSE OF EXCH
Amsterdam ....... C.F 12 5'6
Ditto, at sight l2 3%
Rotterdam .....«....».....2 U l2 6
Antwerp... ............ 12 514
Hamburg ........ M.B. 13 15
Altona.•••• .. . ....
Paris, 3 days' sight 25 60
Ditto ..»...........3 Ms 25 90
Marseilles.
Bourdeaux
Frankfort on Maine, Ex. M 154
Petenditugh, ruble. .... .3 Us lO
Berlin
Vienna, effective fi ...... 2 M lO 17
... 10 20
Madrid. 34
Cadir••••...•...••••••
..............
wua ••.„
Barcelona 34
34

Paid,

,d at 51. pm ) 2U
40

ren Railway

Per Share
24, 5
14
53 4
0%

ANGE YESTERDAY.
Gibraltar 4B
Leghorn
Genoa 4O
..................... 32°1
Venice
ag
Naples
Palermo per oz. 114
Lisbon 50%
Oporto 503,
Rio Janeiro 24
Bahia 2O
Buenos Ayres
Dublin, 21 days' sight
Cork ll4
PRICE OF BULLION, PEtt OZ.
Portugal Mid, c0in........£0 0
Foreign Gold, in bars.... 3 17 9
New Doubloons ...... 0 0 0
New Dears 0 0 0
Silver. bars, standard 0 4 11%

MAILS.
Arrived, Due Arrived. Due. Arrived. Due
0 America.......... I I France 0 0 Lisbon 0
0 8razi1............. 0 I Guern. &Jersey 0 0 Malta .......
0 Buenos Ayres.. 0 0 Hamburg ........ 0 0 Mexico 0
0 Carthageua...... 0 0 Holland ...... .... 0 0 Ostend.. ......
1 Dublin... ...... 0 0 Jamaica 0 0 Sweden 0
0 Flanders 0 0 Leeward Islands 0 I Waterford....... 0

HIGH WATER AT LONDON BRIDGE 'l'o-MORROW.
6 minutes after 3. I Evening...... 25 minutes after 3

MRS. GORE'S NEW NOVEL.

Now ready, in 3 vols. post Syo.
STOKESHILL PLACE;
By
s" or, THE MAN OF BUSINESS.
41 Authoress of " Mrs. Armylage," " Mothers and Daugh-

ters,"-&e7
Reury Colburn, Publisher, 12, Great Marlborough-street.
To be had of all Booksellers.
____

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Published by J. Clayton, 7, Windsor-court, Strand.

The publication of T►ts SUN NEWSPAPRR commenced this day
at 10 minutes past Three o' Clock.