The Sun.
London, England, 1865-03-01 00:00:00

were totally incapable of executing the instructions which
the house bad given to them.
Mr. HENNESSY moved as an amendment, " That the
committee have power to inquire into the practicability
and expediency of making provision for providing sites."
_ _

After some further discussion the house divided. The
numbers were—
For the motion ...
For the amendment
Majority ...

~ -10

As there was not a sufficient number of members to make
a house, the house stood adjourned at ten minutes past one
o'clock.

RAILWAY INTELLIGENCE.

-ip.

GREAT EASTERN.
The half-yearly general meeting of this company was

held yesterday at the London Tavern ; Mr. J. Goodson in

he chair.

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 the traffic receipts had shown an increase of £46,000
during the past year as compared with the corresponding
half of 1863, of which X 26,000 was for passenger traffic and
£20,000 for goods. fe thought it very gratifying that the
passenger taaffic had increased more than the goods. There
was a very promising town called Hunstanton, which,

through the exertions of one of their directors, had been
brought into communication with the main line, and was
ltkely to become a pleasant watering place. The little town
of Aldborough on their line had been teeming with visitors
during the last season. Lowestoft had, as usual, attracted

many visitors, and so had Yarmouth. They had also a
considerable quantity of fish traffic from that place. When
the amalgamation, two or three years ago, took place, the
supply of rolling stock was very moderate, and it had since
been increased. The expenditure on revenue account had
also increased, in consequence of the necessary repairs and
improvement of stations, some of the wooden ones being re-
placed with brick and stone. He hoped that the coming
season would show a further increase in the passenger
traffic, as compared with the corresponding period. The
permanent way had been well maintained, and was now in
a perfectly sound condition. He regretted very much the
delay in the payment of dividend in consequence of the two
lines mentioned in the report not being open for traffic.
The works had been let to a contractor named Brassey, and

last year the directors had been assured that lines wouldbe
completed for traffic in time to allow of the dividend being
paid at the proper time, but it now appeared they couldnot
be completed till May next. With regard to the steam-

boats running from Harwich, they were doing a good

business, but, owing to not having boats of their own, they
were obliged to incur various expenses. Two of the boats

had been sold which were not suited for the trade, and on
the whole a loss or deficiency had arisen of about £31,000,
which would be gradually diminished as the trade in-
creased and became profitable. They had formed an alliance

with the Lancashire and Yorkshire Railway for carrying
out the Northern Junction line, which they had been un-

justly prevented from having in the session of last year.
Re might say that if ever they were to have a dividend
worthy of a company having expended £20,000,000 that was
the only means of getting it. The Lancashire and York-
shire Company had expended £22,000,000, and they were
greatly in want of access to London and the docks, which
the Great Eastern line could afford them if they had only

the connecting link from Askern to Long Stanton. The
Great Eastern had been working their lines for above 20
years in an agricultural district, and had never yet derived

more than 21 per cent. dividend, but with the new affiance
he trusted they would succeed in obtaining the northern
line, which was so much required, and also an increased
dividend. The extension to Liverpool-street would be of
great benefit to the company in developing their suburban
traffic., They proposed to lease the Blackwall Railway at
41 per cent. per annum, which was rather more than it had
earned, but at present the Great Eastern paid £2,500 per

annum for the use of the Fenchurch-street station, besides
tolls for running over the railway. He hoped when the
bill authorising the arrangement was submitted at the
Wharncliffe meeting that the proprietors would give it
their sanction.

Capt. JEkvis,ll.P., seconded the motion for the adoption
of the report. He stated that the company's steamboat traf-
fic had in the first six months averaged £4OO a week, in
the next six months £6OO a week, and now it was averag-
ing £l,OOO a week.

Mr. G. Sat= advised a policy of peace with their neigh-
bours, instead of a war policy, which only put money into the
pockets of the lawyers. He considered it a gross dereliction
of duty on the part of the directors in having allowed the
contractor to carry on the works, so as to deprive of divi-
dend thousands of shareholders. He hoped it was not too
late to come to an amicable settlement with the Great
Northern for the use of their lines, and thus put an end to
a most expensive contest in Parliament.
Mr. BEAVIS thought they should look much more after
the corn traffic in their district, as he believed the greater
portion of it was brought round the coast in vessels to
London, and not over the railway.
...If the principal officers
were allowed an increase of 10 per cent. on their salaries
for every half per cent. increase of dividend, he believed
their affairs would soon become prosperous.
Mr. PAUL asked whether the usual conditions enforcing
penalties for non-completion of works within the stipulated
time were in Mr. Brassey's contract, so as to make him
liable for any loss the shareholders might incur from the
non-payment or postponement of the dividend.
After some observations from Mr. Maude, Mr. Levy, and
Mr. Jardine,

Mr. PULLIENE contended that it would be nothing more
than an act of justice to the Great Eastern on the one hand,
and the Lancashire and Yorkshire on the other, for Parlia-
ment to grant them the northern junction line to unite
these two systems, and thus promote the mutual inter-
change of an entirely new traffic.
Mr. HUDSON said he believed that two or three half-

years ago Mr. Bidder, one of their directors, had said they
would have in about three years' time something like a 5
per cent. dividend.
Mr. BIDDER explained that he did say so, provided the
proper means were adopted to obtain it, but not otherwise.
The Great Eastern must do as the London and North West-
ern, the Midland, and the Great Northern Railway Compa-
nies had done to get remunerative traffic, and by which
they had obtained the good dividends they now enjoyed.
The Great Eastern must extend their railway into the great
districts where remunerative traffic was to be obtained.
There was no railway of importance that had not done so,
and they must do as others had done if they were ever to
get more than 2i per cent. It was all very well for Mr.
Smith to recommend peace and criticise their policy. They
were not aggressors. They had been attacked at every
point on their line by the Great Northern. The growing
dividends of the great companies he had mentioned came
principally from iron, coal, and other mineral traffic. The
arrangement with tho Blackwall would give them a useful
station in Fenchurch-street and access to the Docks. They
had made traffic and other arrangements with the Midland
Railway Company to utilise the Tottenham and Hampstead
Junction line, and he might say the directors had adopted
a most liberal policy, and were willing to let public traffic
have the benefit of the best route, and they had freely given
running powers over their line to the Midland and other
companies. The difference between them and the Great
Northern was something like that between the Confede-
rates and Federals, and it was evident that the Great
Northern would not let the Groat Eastern have what
they wanted to develope their traffic. They wanted uncon-
trolled access to the districts where rich traffic was to be
found. The most important thing for which the Sheffield
• and Great Northern Railway Companies were now before
• Parliament for was to get an independent access into the
centre of Liverpool, and although they had running powers
over the London and North-Western lines to Liverpool, they
found it impossible to carry on the traffic in that restricted
way with advantage to their shareholders. The same prin-
ciple referred to every railway in the kingdom, and they
wanted no more than any other company to carry on the
traffic with freedom and for the benefit of the public and
the shareholders. If they could do what other companies
had been allowed to do by Parliament, then their dividends
would gradually rise. The directors were backed in this
view by the majority of the shareholders, and he had no
doubt they would be able to carry it out. He trusted that
the two small lines would be opened and the dividends
paid early in May next.
In reply to the question by Mr. PAUL, it was stated, with
regard to enforcing the penalty against the contractor, that
some delay had arisen in giving him possession of land,
which had raised a legal difficulty.
After some explanations by Mr. Norris, M.P., and the
Chairman, the report was unanimously adopted.
The meeting was then made special, and the directors
were authorised to create a 44- per cent. debenture stock to
pay off mortgages, and an agreement authorising the work-
ing of the Lynn and Hunstanton Railway was sanctioned.
In reply to Mr. MACLAURIN, it was stated that in case of
a similar accident on the line to that which happened some
time ago, and cost £lO,OOO, the Lynn and Hunstanton Com-
pany would have to contribute their share, in proportion to
the length of line.
A vote of thanks to the chairman and directors concluded
the proceedings.

RAILWAY BILLS.
Yesterday the referees appointed by the House of Com-
mons to make inquiry into the merits of railway and other
Bills met for the first time, at eleven o'clock, in Committee-
room No. 11, Mr. Dodson, Chairman of Ways and Means,
presiding, and with him Mr. Adair, Mr. Hassard, Mr. G.
Craig, and Mr. Rickards, the Speaker's counsel. There
was a large attendance of counsel and professional men
interested in the new procedure.

The CHAIRMAN, after some preliminary observations, said
the committee had decided on hearing the case of the oppo-
nents of each bill first, and only one counsel on either side.

They then called on the case of the Trowse-road bill for
a new road from the Bungay and Loddon High-road to
Witlingham-lane, Norwich, crossing the Great Eastern
Railway, who contribute to the expense. Mr. Barlow, the
engineer, and other witnesses were examined at great
length on the engineering details and sufficiency of the
estimates, and the chairman intimated that they would
make their report to the Select Committee. •
They then took the Bath Gas Bill, to extend the supply