The Sun.
London, England, 1862-08-12 00:00:00

LONDON AND BLACKWALL RAILWAY.

HALF-YEARLY MEETING—(THIS DAY).
The ordinary half-yearly meeting of this company was
held this day at the London Tavern.

J. N. DANIELL, Esq., chairman of the Board of Direct
tors, presided.

The report, which has already appeared in the Sun,
having been taken as read,
The CHAIRMAN, in moving the adoption of the docu-
ment, said he had much satisfaction in meeting the share-
holders, because the position of their affairs, he thought,
would be looked upon as satisfactory. Comparing the ac-
counts with those for the corresponding six months of
1861 there was an increase of £4,760 ls. 2d. in the receipts,
and a decrease of £570 19s. 6d. in the expenses, showing
a total increase of £5,331 Os. Bd. in the net profits of the last
half year, and the dividend the directors recommended was
at the rate of ss. per cent. per annum more than in 1861,
and was upon an increased capital of £247,350. The gross
revenue for the half-year ending 30th June, 1862, had been
£52,569 95., and the expenditure £20,458 Bs. 6d., leaving a
profit of £32,111 Os. 6d. Although there was no very spe-
cial increase in the dividend, yet he thought, while nearly
every other line had suffered from a falling off of
their traffic, it was extremely gratifying to find
that they had not experienced that depression, but
on the contrary, their receipts had increased. The goods
traffic which they had expected from the Midland and Great
Northern had not come upon their line, but everything was
ready to receive it, and it was looked upon as a circum-
stance that would greatly increase their receipts, Their
financial position he looked upon as highly satisfactory, as
the whole of their 41 per cent. preference guaranteed stock
had been taken up, and 18,000 shares paid in full. He did
not think he was called upon to notice the diminu-
tion of their expenditure, because whenever there
was any very extensive repairs to be carried out
those expenses must necessarily increase. They had
fortunately not had any of those repairs to effect,
and therefore there had been no large outlay. The oom-
pany had suffered a loss from the death of Mr. Joseph
Wilson ; but it was proposed to fill up the vac tncy at the
board by electing a gentleman will had a great stake in the
company, viz., Mr. Haigh, who was in every way well calcu-
lated for the duties he would have to perform. He con-
cluded by moving the adoption of the report.
The motion having been seconded,

A PRoPRIETox urged the necessity of economy, and said
he was certain the adoption of different coloured tickets for
the up and the down journeys w,:uld greatly increase their
weekly income, as it would prevent some parties travelling
withoat paying their fares.

The motion was then carried unanimously.
A resolution declaring a dividend for the half year at the
rate of 3 per cent, per annum was also agreed to.
Re.,olutions, far consolidating into ordinary stock all
those " New Shares, 1860," upon which the whole money
subscribed have been paid up, and which have been con-
verted into preference shares, and for consolidating into
preference stock all those shares which had been converted
from New Shares, 1860, into preference shares, were also
agreed to unanimously.

A vote of thanks to the Chairman terminated the pro-
ceedings,

OUR ITIERCHANT PAINCES.

Most of our public writers who have discussed the origin,
constitution, and history of the Corporation of London hays
deplored the decline of civic dignitaries, and affirmed that
the offices of Alderman and Chief Magistrate are not now,
as formerly, filled by what are called merchant princes.
We propose to have our say on this knotty question, but, in
the meantime, we ask, What is a merchant prince? In
Mr. W. S. Lindsay one, because his ships are on every sea,
and be himself is a member of the Legislature? Was Mr.
Duncan Dunbar a merchant prince ? Some will say "No,'
to these queries, and attempt to define that which cannotbe
defined. It is as difficult to say what are the constituents
of a merchant prince as it is to settle the dispute as to who
is entitled to be called an esquire. We repudiate as absura
the dogma that one man is less dignified or less fit to fill an
office of trust and position because he sells candles, than
another who negotiates the sale of tallow in the bulk. Such
distinctions are unworthy of a great people; indeed they
are without meaning in the period of advanced civilisation
in which we live.

Mr. Lindsay came to London with 4s. 6d. in his pocket,
and manfully told his constituents of the fact, and yet he
is now to all intents and purposes a merchant prince. The
late Mr. Dunbar sold bottle beer, but he was at the same
time a bank director, and the largest ship owner in the world.
He would not have disdained to fill the office of Alderman
if his avocations had brought him more in contact with civic
matter. Are Mr. Alderman Salomons and Alderman Sir J.
Duke merchant princes ? We believe that Mr. Alderman
Finnis may be so denominated, and we know that Mr. Al-
derman Salomons, Alderman Sir Jas. Duke, and Alderman
Copeland are members of the British Legislature, the two
former being bankers, as are Mr. Alderman Mechi and Mr.
Alderman Dakin. The late Sir Peter Laurie was governor of
one of the largest and most successful joint-stock banks in
the country, and Alderman Sir H. W. Carden is chairman
of another. In the face of these facts, what becomes of
the oft-repeated and unmeaning sneer that is attempted
in the assertion that " the office of alderman has rarely
been filled by men of intellectual mark ?" and of the
equally sensible assertion that "the dignity of the office has
unquestionably been trifled with by the Choice
of
retail
trad era ?"

"merchant prince"
Will any sane man affirm that a
—whatever may be understood by that extremely vague
re-
and comprehensive term—could have been found to
fleet more dignity upon the office of Lord Mayor than
Mr. Alderman Cubitt ? We are persuaded that none
will deny that, upon the whole, our City magistrates repre-
sent, and have for many years represented, the average
intelligence, dignity, probity, and wealth of the trading
community of the British metropolis; and
We trust that
the clap-trap about " merchant princes" will cease to have
currency amongst us.

A catastrophe, similar to that which occasioned
such great havoc in Edinburgh some time ago, although
on a smaller scale, and happily attended with less disastrous
results, occurred in Sunderland on Saturday. The roof o
a cottage, in which there resided a sailor, named Briggs, and
about half a dozen other persons, suddenly
fell in with a heavy crash, immuring th gave way, and
inmates in the
ruins. By the strenuous exertions of teighbcurs the pri-
soners were released from their perilous situation, but all
of them had received injuries of a mare or less serious,
although, fortunately, not dangerous character. The build-
ing was in a very dilapidated condition, end
more minute
inspection of such places aprears to be loudly called for.
We are enabled to state that the marriage of the
Prince of Wales will take place some time next year. At
the present moment, no positive arrangements have been
made, and we are aware that nothing \All
be positively
made known
in regard to the Prince's choice until his
re-
turn to ENgland from Germany. The probability is, that
the Princess Alexandrina of Denmark will be the future
Princess of Wales. The Princess Alexandrina is in her
eighteenth year, having been born in December, 1944. She
is the eldest daughter of his Royal---gliness Christian,
Prince of Denmark, who is the eon of the Duke of &hies-
wig-Holstein-Sonderburg-Gluksburg, successor to the
throne of Denmark on the death of the present
Frederick VII,--Court ATiq.