The Sun.
London, England, 1865-03-09 00:00:00

CENTRAL ARGENTINE (LIMITED).

The first general meeting of this company was
held yesterday at their offices, Gracechurch-street ;
Mr. H. Brockett in the chair.

Mr. G. Woolcott, the secretary, read the report,
which stated that the company's articles of associa-
tion for tlte line from Rosario to Cordova, had re-
ceived the sanction and approval of the Government.
The board had concluded the contract with Messrs.

Brassey,Wythes, and Wheelwright for the construe
tion and completion of the railway with its buildings
and works, also for stocking and equipping the line
with the necessary rolling stock and plant, and for
maintaining, working, and managing the same for
two years after completion. There was every pro-
bability of the early opening of the line to the first
station from Rosario—namely, Cacarana ; and it
was confidently expected that upwards of 100 miles
would be finished and opened for traffic early in the
year 1866. A change had been effected in the terms
of the concession, whereby all bona fide charges in
respect to the working of the line would be allowed,
instead of the same being limited to 45 per cent., as
originally conceded. The Government had subscribed
for 2,000 shares in the company, and between 6,000
and 7,000 shares in addition had been taken by per-
sons resident in the republic, so that it was confi-
dently expected that £200,000 would be there in
vested in respect of the shares subscribed by the
contractors, with a view to being placed in South
America. The directors had appointed Mr. T.
Armstrong, of Buenos Ayres, as the resident director
of the company. Previous to taking any active steps
with respect to the colonisation or disposal of the
lands granted to the company on each side of theline,
the directors had determined that they should be
accurately surveyed and the boundaries determined
and marked. Negotiations had also been opened
with the Government, by which it was expected that
possession of the lands ceded would be obtained at
an earlier period than that fixed by the concession.
The subscribed capital amounted to £4,000,000 in
£2O shares, of which £4 10s. each had been paid up.
Warrants for the payment of the guaranteed inte-
rest at the rate of 7 per cent. per annum on the
paid-up share capital would be payable on April
20 and Oct. 20 in each year. The directors ex-
pressed their strong conviction that the undertaking
would prove a highly profitable and valuable invest-
ment. The capital account to Dec. 31 showed that
£224,212 had been received, and £136,855 expended,
leaving a balance of £87,357.
The CHAIRMAN, in moving the adoption of the
report, said they had contracted for the construction
of the railway at the fixed rate of £6,400 per mile,
including everything. Eight miles in length hid
been entirely completed, eight miles more were in a
forward state, so that in the course of a compara-
tively short time 32 miles would be finished, and it
w_ as arranged that in the summer of next year one-
half the line, or
completed from Rosari
about 120 miles of it, would be
o to Frayle-Muerto, which
was the first town of importance on the route. The
Goverment had acted in a very liberal manner to-
wards them. The line passed through a rich and
beautiful country, and the lands were increasing in
value.
Mr. WATERHOUSE seconded the motion for the
adoption of the report.
An unimportant discussion ensued, in the course
of which the report was adopted. The retiring
directors and auditors were re-elected, and the re-
muneration of the latter was fixed at 20 guineas per
annum each.

The meeting was then made special, and certain
words in the articles of association were altered to
satisfy the requirements of the Stock Exchange,
and the proceedings concluded with a vote of thanks
to the directors.