The Sun.
London, England, 1865-09-30 00:00:00

fliß StIN, L 01415014, SATURDAY EVENING, SEPTEMBER 30, lE6e

RAILWAY INTELLIGENCE.

OTTOMAN (SMYRNA TO AIDIN).
The half-yearly general meeting of this company
was held yesterday at the London Tavern ; Sir
Macdonald Stephenson in the chair.
Air. Cooke, the secretary, having read the notice
convening the meeting, the report, an abstract of
which has appeared in The Sun, was taken as read.
The CHAIRMAN, in moving the adoption of the
report, said that few lines of railway had been con-
structed under so many and great difficulties as,
from the outset, had beset the works which were at
length drawing to a conclusion, between Smyrna
and Aidin. Few undertakings had been so reso-
lutely persevered in, in the face of apparently in-

surmountable obstacles, and few, perhaps, had been
undertaken on a foreign soil which were likely to
be attended with more important results in their
beneficial influence upon a large population, or in
their pecuniary return for the outlay incurred, of
time, labour, and money. They had all been mis-

taken in one respect, when assuming, as might
reasonably be supposed, that 50 miles of railway
would divert all the camel traffic. Experience had
shown that not more than half the produce had been
conveyed by rail, notwithstanding the costly agencies
at the towns in the interior. But the working of
the 50 miles to Ephesus had also shown conclusively
that the completion of the through line to Aidin
was alone required to bring all the produce and
goods upon the railway, and to provide the camel
owners more profitable occupation in collecting
and distributing at and near the termini what was
transported by the rail. The unsatisfactory fea-
tures in the half-year's working were the heavy
charges for traffic agency in the interior, for re-
pairs of engines, for consumption of fuel, and for
maintenance of way and works. In explanation it
might be said that the traffic agency charges must
not be impugned until the system had had a
fair trial, that the heavy repairs to the locomotives
were due to the use of the engines for the contrac-
tor's work under his contract, that the state of the
engines regulated the consumption of fuel, and that
although the maintenance of the way was high, the
engineer was gradually renewing with superior
sleepers the whole of the open line. The more en-
couraging subjects for consideration were the assur-
ance of the near completion of the through line to
Aidin, first by the temporary works over the moun-
tain, and eventually through the tunnel under it; of
the certainty that this alone was required to secure
the whole trade of the country, and that, with the
advantage of past experience, the increased traffic
would be worked with scarcely any increase in the
working expenses, and without any augmentation
to those fixed charges which were independent of
the amount of traffic. At the tunnel works the
deaths had amounted to 12 Englishmen, two Eng-
lish women, and three children, one Italian, and
nearly 40 natives ; but the worst had passed, the
cholera had ceased, and active operations were to be
renewed about the 15th of this month. The latest
accounts received yesterday from the manager men-
tioned the returns of the fig trade alone to the 17th
September as exceeding 9,000 loads, or 2,000 tons,
against about 3,000 loads, or 700 tons at the same
period of 1864. (Hear.) Mr. Charlton, their mana-
ger, also fully explained the increased traffic agency
charges, by reference to the additional quantity of
goods brought by that means upon the railway, and

wharf at Kotree ; 3,000 bales of cotton has just
arrived from Ferozepore and Mooltan. There were
on that day 82 waggons laden with produce which
had to be sent by special train to Kurrachee. The
manager felt confident that commercial matters had
improved, that produce would continue to be sent
forward to Kurrachee. With regard to the flotilla,
the present boats of the company were inadequate
to carry the traffic from Mooltan. They had now,
in accordance with his original suggestion, confided
the building of three steamers, one steamer to each
of the three most eminent firms in this country, and
by so doing he fully expected the most difficult of
problems would be solved, that of constructing ves-
sels to successfully navigate the Indus. Should this
be successful the number of the vessels in the flo-
tilla would be greatly increased, but, if otherwise,
it would be an additional argument in favour' of
progressing with the Indus Valley railway as soon
as possible. The Punjab railway opened in April
throughout from Umriseur to Mooltan. The goods
traffic in May and June, the hottest months of the
year, had been very satisfactory, that of June being
double the amount of that in May. The traffic on
the Punjab railway was for the week ending the 2d
of July £2,100, and considering the hot season, the
newness of the line, and other matters, it was per-
fectly satisfactory, and that was the opinion of the
local authorities. By telegram dated 14th Aug. a
large amount of merchandise was reported as waiting
at Mooltan for shipment at Sher Sha, the shippng
place of Mooltan. The present estimates for the com-
pletion of the Punjab Railway would little exceed
£2,000,000, but he (the chairman) felt certain that
when the stations, sidings, and other works were
completed, together with an adequate supply of roll-
ing stock that must be provided, the cost would be,
as he had stated on former occasions, £2,500,000,
and even then it would be one of the cheapest rail-
ways in India. As to the Delhi Railway, Mr. Bras-
sey was making great exertions to forward materials.
The company had now four important undertakings
on their hands, to which he had just adverted, and
that brought him to the missing link which was pro-
posed to be made from the Scinde Railway to Mool-
tan. The map at the end of the room showed the
trace of the line, which formed a junction with the
Scinde Railway near Kotree, then proceeded along
the valley to Sukkur, where it crossed to the left
bank of the Indus to Mooltan, the total length being
480 miles. This route was of great importance for
military and commercial purposes in every respect.
When weekly communication was established be-
tween Suez and Kurrachee he thought it must force
on the Government the necessity of the Indus Val-
ley Railway, as opening up direct railway commu-
nication with the Punjab and interior of India. He
hoped, at all events, by that time next year the in-
auguration of the Indus Valley line would be com-
mitted to their hands. (Hear, hear.)
Mr. WILLIAms seconded the motion for the adop-
tion of the report.
In reply to questions, it was stated that the Delhi
Company had £BOO,OOO in hand, and although large
checks were being drawn for Mr. Brassey nearly
every week he did not think the directors would be
able to take any more money in anticipation of calls
before five or six months, or until the balance in
hand was reduced to £300,000.
The report was then adopted.
The CHAIRMAN next moved a formal resolution
authorising the directors to create additional capital
of £500,000 by the issue of 25,000 shares of £2O
each for the Punjab Railway, and upon which the
Secretary of State for India in Council had guaran-
teed 5 per cent. per annum.
Mr. WILLIAMS seconded the motion, and it was
carried unanimously.
It was then agreed that all of the Punjab shares,
as and when paid up in full, be converted or consoli-
dated into Punjab capital stock.
On the motion of Mr. Sergeant TOZER a vote of
thanks to the chairman and directors concluded the
proceedings.