The Sun.
London, England, 1862-11-28 00:00:00

CALCUTTA AND SOUTH-EASTERN.

The half-yearly meeting of this company was
held yesterday at the offices, Greshamikouse, Mr.
.Tv,Borradaile in the chair.'

.•
The report slated that on the 28th of June last a
portion of the scaffolding and of the temporary
brick pillars erected at the Piallee for placing the
girders of the bridge gave way, and though of
course the future stability and security of the bridge
itself will be in no way affected by this occurrence,
it has rendered necessary a renewal and strength-
ening of the preparatory wort s, which has occa-
sioned an unfortunate delay. This accident will
not retard the opening of the line for a longer
period than two months beyond the contem-
plated time; thus substituting January 1, 1863,
for Nov. 1, 1862. Arrangements were in course of
being made in India to establish a communication
with the Mutlah in the beginning of November suf-
ficient to enable the proprietors of the town lots to
commence operations at the new port immediately
after the rains. The screw-pile jetty for the Mut-
lab, which has received the sanction of Government,
will be shipped in the course of next month. Ves-
sels will thus be enabled to deliver their cargoes at
once to the railway waggons for conveyance in two
hours to Calcutta. The Government have secured
a large plot of ground adjoining the terminus at
Calcutta, on which they are now engaged in erect-
ing a market for the accommodation of the firewood,
fish, and vegetables to be conveyed along the line to
Calcutta. The directors have raised in shares the
whole of the additional capital voted by the share-
holders at the last meeting, making the total capital
raised in shares and debentures £400,000. The
capital account to Sept. 30 showed that £378,793
had been received, and £371,788 expended, leaving
a balance of £7,005. The amount received for in-
terest from the commencement to the 30th of June
last was £34,207.

The CHAIRMAN, in moving the adoption of the
report, said he hoped the line would be opened
throughout at the time mentioned in the report.
Letters had been received stating that a temporary
mode of conveyance for passengers to the Mutlah
had commenced on Oct. 27 for the remainder of the
distance-12 miles. The cost of the screw pile jetty
would be £12,000, but they would derive remune-
ration for that outlay. The Government had com-
pleted arrangements for opening a large market at
the terminus of the line in Calcutta. The company
had raised £310,000 on shares and £90,000 on deben-
tures, making the total receipts £400,000. He had
no doubt that further capital would be required to
the extent of £60,000, including the cost of the pier.
Mr. MARSHAM seconded the motion for the adop-
tion of the report. He said he had full confidence
that the line would be open for public traffic and
yielding good returns before the next ordinary
meeting. The Government had given orders that
no pains should be spared to develope the traffic on
the line as soon as possible, and for that purpose
the jetty had been ordered to facilitate the loading
and unloading of ships at the Mutlah. The jetty
would enable them to unload and convey 1,000 tons
of goods from the Mutlah to Calcutta in three days.
The opening of the line had been delayed by cir-
cumstances over whieh they had no control.

In reply to questions from Mr. Hartridge and
Mr. Adams it was stated that the length of the line
was 281 miles, and that the cost of the line and
works, including the jetty, would be £460,000, or
about £16,000 per mile.

The report was adopted, and a vote of thanks to
the chairman and directors concluded the pro..
ceedings.
MADRAS IRRIGATION AND CANAL:

The half-yearly meeting of this company ;;;held
yesterday at the London Tavern—Mr. S. Thomson
in the chair.

The report, an abstract of which has appeared in
The Sun, was taken as read.

The CHAIRMAN, in moving its adoption, entered
at considerable length into the difficulties with
which the company had had to contend from the
commencement. The progress made by the engi-
neer and his staff had been material and satisfactory.
The last season had been very unfavourable, and the
rains were very heavy, having at times shown a fall
of three or four inches in the course of 12 hours.
Visitations of cholera had occasionally driven and
scattered the people from the works, but now, he
believed, they could get plenty of labour. The dif-
ficulties and delays from which they had suffered
had arisen chiefly from the circuitous course adopted
by the Government. Approval of plans, in some
cases, had been delayed for nine months together.
The question of combining irrigation and canal com-
munication had involved considerable discussion for
a long period, but it had been decided by experience
that most of the main channels for irrigation were
not only irrigation channels, but canal communica-
tions. The present authorised works would irrigate
100,000 acres in the first instance, and eventually
400,000 acres. The increased extent of irrigation
would require extra channels for distribution, but
not extra main works.

The Secretary read a long correspondeneo with
the Government respecting the concession to the
company and guarantee on the capital, from which
it appeared that various delays had been interposed
during three or four years, that the company were
guaranteed by the Government 5 per cent. on a mil-
lion of capital. Tho company had offered to raise
an extra sum without a guarantee for carrying out
more extended works, provided the company Were
allowed to take out of the profits of working inte-
rest of 5
per cent, on the amount of unguaranteed
ovided by the company, and
capital pr also any
surplus beyond up to 7 per cent. more, making 12
cent. in all on the unguaranteed
per capital, then
dividing with the Government the surplus profits
above the five per cent. on the guaranteed •
capital
and the 12 per cent. on the unguaranteed capital.
But the company reserved to
itself
any profit that
might arise from the
traffic on the canals. The
matter had eventually been left by the Home Go-
vernment to the
decision
of the Madras Govern-
ment, and he had no doubt of the result. He hoped
that no further
the company would bo allowed to proceed with the
works in the manner so ably designed and pointed
out by their engineer. The policy to be pursued
by the Government of India with respect to those
productive works had been clearly laid down by
Mr. Laing, and if followed would remove all diffi-
culty with regard to the cotton question and the
extensive cultivation of the soil in India. Some
of the results of their operations would be shown
in 1863 The great exertions of their engineer were
beyond all praise, and he had been most cordially
supported in his efforts by his working staff.
The report Was unanimously adopted, the retiring

~ a~L_. ~

directors arid auditors were re-eieeted. mad the Iwo*
ceedings concluded with a vote of thaukz to the
chairman and directors.

A FRENCH VIEW OF TILE GREEK
Q UESTIOY.

M. Gueroult, of the Opinione iYationale, who is
personally extremely hostile to the candidature of
Priixe Alfred in Greece, publishes the following
article with the heading—" Italy, Greece, Mesi.co,
and the United States" :
The very unexpected candidature of Prince Alfred for
the throne of Greece, and the still more unexpected support
which the candidature seems to find in the Biitieh cabintt,
is well calculated to bring out in strong relief the inconve-
niences which we have more than once pointed out of our
present foreign policy.

By a strange anomaly the two roost liberal and enlight-
ened nations on the face of the earth have constituted them
selves respectively the protectors of the spiritual heads of
catholicism and Islamism, whose governments are the most
backward in the world. France protects the Pope, and
England the Sultan.

But while protecting the Pope, Franco has contrived to
alienate in the first place the Pope himself, and all the
catholic clergy besides ; then all the Pope's subjects, who
had cherished the hope of beizag rid of his bad governtvent;
and lastly, all Italy, which considers the pontifical govern-
ment as the obstacle and the dissolvent of that unity to
which she aspires.

On the other hand England, in protecting the Sultan,
has, it is true, rendered herself unpopular in the
East, among the Christian populations, but she has
possessed herself of effective power. It is -England
that works in reality behind the disorganised skeleton of
the Ottoman empire, and inasmuch as England's main ob-
ject is to keep Russia out of Constantinople, and to retain
command of the routes to the East Indies, it may be safely
said that England, all powerful in Syria, and sovereign at
Constantinople, derives as much advantage from her pro-
tectorate of the Sultan as we derive disadvantage from our
protection of the Pope.

It seems as if England had seen is the Greek revolution
an occasion to extend and strengthen her influence. Ili-
therto she has shown herself as unfriendly as possible,
towards that little nation of navigators which threatens
her with a dangerous rivalry in the Mediterranean. NOW
she is all of a sudden smitten with a great affection for
Greece. She is willing to give Greece an English prince
who will bring with him the lonian Islands for a dowry.
She cedes a part to get the whole. Once Prince Alfred in-
stalled at Athens, and England will have two courses open
to her to arrive at the domination of the East. She may
either enlarge Greece and disorganise Turkey for the bene-
fit of Prince Alfred, or she may foment discontents in
Greece, and under the pretext of protecting an English
prince, occupy Greece, and set up there the standard of her
protectorate.

This policy would be dangerous and fatal for the Christian
East, as in reality England cares nothing for the emancipa-
tion of the Christians, but only thinks to make use of them,
her object in being at once the protectress of the Turks at
Constantinople and the Christians in Athens would be to
govern, in reality, herself in both places.
Already France and Russia are alive to the danger, and
have as it is said [this observation appears now to be
founded on a mistake], protested against a candidature re-
pudiated by treaties. We trust that their voices will be
listened to, and the danger avoided. But supposing that
England should think it really her interest to persist, and
if she should think the opportunity a favourable one, even
to run the risk of a war, in what position should we find
ourselves ?
No doubt, in the view of the treaties, she has no right to
put an English prince on the throne of Athens. But have
we a right to keep a garrison in Rome ? She has no right
to set herself up as the exclusive protectress of Greece. But
what right have we to be the protectors of the Pope ? And
if England should succeed in getting the Greeks to call for
Prince Alfred, would she not be in a more defensible posi-
tion than ourselves when we support the Pope against the
ttalians ?

But leaving aside the moral part of the question, let us
assume that a war breaks out on the Gree,lc question.
Where are our allies? The Russians have enough to do
at home; the Austrians hate us; we cannot reckon upon
Prussia. Wo ought at least to be able to count upon Italy.
Wo rendered her a signal service three years ago ; but
since that time what annoyances have not been caused,
what obstacles raised up against her ? We stand alone in
the way of that unity which is her dearest wish and her
greatest necessity. It is evident, therefore, that to gain
Italy, England would promise her unity, though of course
she would not give it to her. In any case it is manifest that
so long as we persevere in our present policy, we cannot
reckon upon the alliance of Italy, and scarcely can we be
assured of her neutrality. We should then be full in face
with England. But in this formidable duel should we have
our utmost strength at our disposal ? No, for we have
50,000 men in Mexico, besides a considerable portion of our
fleet.

It will be remembered that at the time of the great re-
bellion in India, the English would not send a single man-
of-war away from the Channel fleet. And yet they had no
less than an empire of 150 millions of men to preserve. We
have stripped our ports to go to Mexico. And what to do P
To prevent church property from being sold ? To claim
the inheritance of Montezuma ? To construct a throne for
the benefit of an Austrian Archduke ? To transform Mexico
into a great nation ? All these things have been said in
turn, and, in point of fact, nobody knows what we have
gone there to do. The only thing quite clear is, that in
case of serious events in Europe, a notable part of our army
and fleet is out of the way.
But this is not all. It would seem that the dispersion of
our forces is not yet sufficient, and we must needs go and
involve ourselves in a mediation in the United States. We
began very pacifically, but Russia and Engla•ad are prudent
enough not to follow us. The France and the Constitu-
tionnel, however, and other journals, fond of glory and ad-
venture, tell us that we are to go on by ourselves, and im-
pose peace upon the North and the South.
We, who are considered to be revolutionists and fo-
menters of disorder, ask the French Government to keep
quiet, and let the North and South separate or make it
up as best suits themselves. We call on the Government
to bring to as short an end as possible that costly and
foolish expedition to Mexico, which is an incubus upon our
finances and weakens our land and sea forces to no useful
purpose ; we ask for an intelligent policy in Italy, and beg
that we may not be indefinitely prostrate before the Gothic
pretentions of a government of the other world which knows
nothing whatever about the affairs of this planet. We ask
the government not to compromise by hesitation and inde-
cikion the Italian alliance, and not to alienate front us a
people which in the nature of things ought to be our ad-
vanced guard in the East ; and not to force that people to
throw into the arms of England.
But we shall, perhaps, be told that the candidature of
Prince Alfred is an intrigue, which will come to nothing.
We trust so ; and in any case wo are far from thinking that,
war is imminent. But when we see England concentrate
her forces while wo disseminate ours, when we see her pur-
suing in the East an egotistical but intelligent policy, while
we in Italy are alienating all parties, we cannot help draw-
ing a melancholy parallel, and regretting that we do not
turn to better account the superior morality of the princi-
ples of French policy.