The Sun.
London, England, 1853-03-11 00:00:00

Yesterday the twenty-eighth annual meeting of this
company was held at the London Tavern, Bishopsgate-
street ; Mr. Cattley in the chair. The proceedings ex-
cited considerable interest, owing to the alteration in the
prospects of the company consequent upon the emigra-
tion to Australia. The capital of the undertaking con-
sists of 10,000 shares, upon which 29/, each has been
paid, and their possessions are nearly 400,000 of land,
granted to them 28 years ago. At first the shares at-
tained a very high premium, but the failure of a variety
of ilirming and colonisation experiments exhausted. the
calls upon the proprietors as fast as they were paid up,
until nearly. 290,0001., the entire sum raised, had
been frittered away, and the shares were reduced in the
market to a merely nominal price. A. twelvemonth
back they might have been bought for about 11., but
since that period the gold discoveries in the oppo-
site colony of Victoria have caused attention to be
directed to the prospects of the company's lands being
resorted to by settlers, and during the excitement re-
garding everything connected with Australia about two
months ago the shares were sold at 351. They subse-
quently receded to 151., and have again recovered to 191.
With these remarks, the bearings of the report presented
yesterday, and from which the following are extracts,
will be understood : •
" The directors of the Van Dienien's -Land Company
have the satisfaction of meeting their proprietors under
circumstances which they trust indicate a material im-
provement in tbeir future prospects.
" In consequence of events which are known to all, a vast
population is now accumulating on the 'shores immediately
opposite to the company's lands beyond anything that
could have been anticipated at this period last year, while,
at the same time, the plans of economy in conducting the
affairs of the company and reducing the anneal expenditure
have been diligently carried out by their chief ageilt in the
colony. ' •
" On this side, the circumstances chiefly remarkable since
the last annual meeting have been, first, a sale of 592 for-
t feited shares, and, secondly, the great change that has
taken place in the proprietary. For the new shareholders
the directors give a short sketch of the company's posses-
sions as now existing.
" The principal district is Circular-head, consisting of
about 20,000 acres. This is divided into two parts, the
peninsula and the mainland. The peninsula is about six
miles long, and varies in -width from about two miles to
only half a mile, where it joins the mainland. The com-
pany, at an early period, decided on not parting with any
portion of this peninsula in fee, as it had been fixed upon
for the site of their principal township of Stanley. There
remains, therefore, round this township ample room for
its future extension, and for the sale of additional lots at
such increased value as time and circumstances may bring,
and of which the company will derive the entire benefit.
For the present the chief part of this land is. let on leases,
but of these the longest was originally only for 14 years,
and a part of that term is now run' off. About 800 acres
of this tact were formerly occupied by the company in
their fanning operations (now given up), and this portion
has been brought into a perfect state of cultivation, so that
for some part a rent of from 10s. to lls, per acre is ob-
tained. At the port of Stanley there is a wharf and jetty
and a stone church. South of the peninsula is the forest
of Circular-head, containing about 12,000 acres, the greater
part timbered, of which about 2,700 have been sold.
The district of Emu Bay, consisting of 50,000 acres,
is about 35 miles along the coast east of Circular-head, and
commences at the rising township of Burnie. The land is
heavily timbered, but of excellent quality. The quantity
sold in the neighbourhood of the township is about 1,700
acres. From Burnie the company's possessions extend in-
land about 30 miles, embracing the tracts of the Surrey
Hills, the Hampshire Hills, and the Middlesex Plains.
" The Hampshire Hills comprise about 10,000 acres of
clear land well supplied with water, the Emu liver, which
is about 22 yards wide and 2 feet deep, running through
the midst. Succeeding to these are the Surrey Hills
comprising 150,000 acres. They are described as `grassy
hills and kolls, resembling a neglected old English park, a
thousand to fifteen hundred acres in a patch without a tree
except a few clumps of blackwood.' Limestone has been
found, and plenty of stone of a rough nature fit for common
building. _Beyond the Surrey Hills lie the Middlesex
Plains, consisting of about 10,000 acres of open forest.
These are within 30 miles of the recently-settled district of
Chudleigh, which communicates direct with Launceston,
and it may thus not be long before a new and important
communication is opened with this inland part of the com-
pany's property. Woolnorth is a separate district of 10,000
acres, at the extreme north-western point of the island. It
is at present let as a sheep run. Robins' Island, lying off
the north shore of Woolnorth, contains about 24,000 acres
and being situated in the direction of Port Philip, may
at no distant time, become valuable.

" We, whose names are hereunto subscribed, your corn-
ttee appointed on the 13th day of November, 1851, to
coneider in detail the railway terminus and City improve-
ment plan proposed by Mr. Charles Pearson, in connexion
with the resolution of this court of the 3d of November,
1845, and-to inquire into the desirableness, practicability,
and cost thereof, and to report our opinion thereon to this
court ; and that, pending the foregoing inquiry, we should
be empowered to give the necessary parliamentary notices
in the Gazette, and newspapers, to enable the court to act
thereon in the approaching
session, if after receiving the
report of your committee they should determine to do so ;
and to whom on the same day it was also referred to con-
sider the memorial of Mr. Charles Pearson on the same
subject, and to report our opinion- thereon; and to whom,
on the eleventh day of March, 1852, upon the resolution
and order of your honourable court to agree with your
committee in so much of their report of the 12th of
February, 1852, as expressed that it was most desirable to
secure, if possible, to the public and the Corporation of Lon-
don, the great benefit which would arise from the proposed
railway terminus, it was referred back to your committee to
confer with the respective railway companies to the north of
the Thames, or any other responsible parties who might be
willing to undertake the execution of the works, and to
ascertain the term's and conditions upon which they would
be willing to carry out the undertaking, and that your
committee should report the proceedings for the approval
of the court before any arrangements are entered into ;
and, on the 20th of January, 1853, it was resolved
and ordered by your honourable court, that it should
be an instruction to your committee forthwith to
make a report of our proceedings to your court,
giving a detailed statement of the amount, expended
by them, and lase to consider and report hew this
city's funds may' be reimbursed the outlay that has
been incurred, and that, in the meantime, the committee
take no further proceedings in the matters referred to them;
—do certify that we, your committee, having on the 12th
of February, 1852, presented to your honourable court a
report of our proceedings, which was printed and sent to
every member, we beg leave to refer thereto, and in con-
tinuation to state that, at a meeting of your committee, on
the 16th of March, 1852, the reference from this honei .
able court of the 11th of March last, upon our report on
Mr. Pearson's memorial, was read 'That this court do agree,
with the committee in so much of the report as expresses
that it is most desirable to secure, if possible, to the public
and the corporation of London, the great benefit which
will arise from the proposed railway terminus ; and that it
be referred back to the committee to confer with the re-
spective railway companies to the north of the Thames, or
any other responsible parties who may be willing to carry
out the undertaking, and that the committee do report
their proceedings for the approval of the court before any
arrangements are entered into, when letters from the soli-
citors of the Great Northern Railway Company, and from
the solicitor for the measure in Parliament, were read ; and
we instructed the town-clerk to communicate with the
railway companies north of the River Thames, in con-
formity with the resolution and reference of this hon-
urahle court.
" The bills of Mr. Walker, the engineer, and of Mr.
Higgins, for professional services rendered, were at the
same laid before us and read ; and Mr. Pearson was sent
for, to ascertain whether he was prepared to lay details, in
respect of the proposed trunk railway to Farringdon-street,
before your committee ; and having heard him upon the
subject, it was resolved that if a sufficient number of
copies of the plans as deposited in Parliament can be ob-
tained, one should be sent to each railway company, with
the communications this day ordered ; but if not sufficient
for each, that a copy be deposited in the Town Clerk's
office for inspection, and that information thereof be given
to the several companies.
" Your committee then directed warrants for payment
of the bills of Mr. Walker and Mr. Higgins to be prepared
for signature at their next meeting ; and further resolved
that Mr. Pearson be authorised to give any information he
may be in possession of to the respective railway companies,
if desired by them, upon the understanding that such in-
formation be given by him as the projector of the plan, and
not as a member of the corporation.
" That at a committee held on the 14th day of June,
1852, the Town Clerk laid before us letters from the secre-
taries of the Eastern Counties Railway, the London and
North-Western Railway, and the Great Northern Railway
companies, acknowledging the receipt of the 'communica-
tions from us, which they stated should be laid before the
directors. The Town Clerk at the same time laid before
us a letter from the Eastern Counties Railway, transmit-
ting a copy of a resolution of that company, informing this
committee that the said company were not prepared to
recommend any outlay in flutherance of the Project.
" Your committee, after this occasion, were summoned
to receive a communication from Mr. Pearson, with a re-
quest from him to them to inspect additional plans, sec-
tions, and models, illustrative of his project, and were at-
tended by him, when he read a lengthened communication
upon the subject, which he subsequently delivered in.
The committee also, in pursuance of their previous re-
solutions, signed warrants for payment of the bills of Mr.
Walker and Mr. Higgins, for business done by their direc-
tions, amounting to the sums of 5211. 14s. 7d., and 6.101.
respectively.
" The next meeting of your committee was held on the
Bth day of January in the present year, when the reference
from this honourable court of the 11th of March last, as
previously read, was again read, and Mr. Deputy Harrison,
our chairman, stated that he had called the meeting in
consequence of a letter he had received from the hon. se-
cretary of the City Railway Terminus Company, request-
ing an early meeting of the committee to receive a deputa-
tion from their Istaird on the subject of the plans of that
company ; in consequence of which, we resolved that the
Fleet Valley and City Railway Terminus Company, having
applied to the committee to receive a deputation from them
on the subject of the plans of the company, and, to meet
the wishes of the company, that2we should oppoint a day
subsequent to the 24th of January, we appointed Wednes-
day, the 26th, to receive such deputation - and we re-
quested the company to furnish us, as early as possible
previous to the conference, with copies of the bill proposed
by them, and we directed copies of our resolution to be
furnished to the company, which was done accordingly.
" That on the 19th of Januarys letter was received from
the honorary secretary of the City Railway Terminus Com-
pany, as follows :
" City Railway Terminus Company Offices, 35, New
Bridge-street, 19th January, 1853.
" Sir,—l am instructed by the directors of this com-
pany to acknowledge the receipt df your letter of the Bth
instant, and to request you to convey to the Fleet Valley
Improvement Committee their best thanks for the prompt-
ness of their attention to the request of the board.
" A reprint of this company has been ordered for your
committee, and I shall, as soon as possible, forward copies
for their use.

" The price originally named for forest sections in th e
company's prospectus was 21. per acre both at Circular-
head and Emu Bay, but the tract of Circular-head being
comparatively limited, and being the nearest to Port
Philip, the directors have ordered all sales of forest land
in that quarter to be suspended, desiring that purchasers
may for the present be referred to the tract at Emu Bay.
The price of town sections was also fixed at 201. per quar-
ter acre at Stanley, and 101. at Burnie ; but in the new
state of things the chief agent has been instructed to de-
mand 401. per quarter acre at Stanley, and 201. at Burnie.
The directors have subsequently made an engagement for
the sale of 10 quarter acre sections at Burnie to a gentle-
man now in this country, and who contemplates going out
to the colony, by whom the advanced price named was
readily agreed to—the amount to be paid in London.
" With regard to the possible discovery of gold, the di-
rectors, in consequence of some information they had re-
ceived from a gentleman who had been upon the spot,
wrote to their chief agent in September last,, pointing out
a certain locality on the company's land at Circular-head
where the quartz rock showed itself above the surface, and
in which, from general analogy, gold might be supposed to
exist, and they at the same time ordered some specimens
of this rock to be sent over, to be tested in this country.
" The portions of the company's stock remaining unsold
consist of about 2,400 head of cattle, running upon the
Surrey Hills. The total rental from the letting of land,
buildings, &c., is about 1,7001. per annum ; a sum which
may be considered as more than covering the annual ex-
penditUre of the company. This rental is chiefly derived
from the peninsula and the neighbourhood of Stanley and
Burnie townships, the large tracts of the Surrey and
Hampshire Hills and Middlesex Plains being unlet at pre-
sent."

The whole of the discussion, after the reading of the
above report, related to the future prospects of the un-
dertaking. With the view of facilitating transfers of
shares, which have recently become more numerous,
certain modifications are contemplated, and the Chair-
man (Mr. J. Cattley) congratulated the proprietors on
the favourable change which bad taken place in the
company's position. In answer to questions, it was
stated that the directors do not intend to make any
further calls unless with the sanction of the share-
holders. Any contingency of the kind could only occur
if at a future period it might be considered advisable to
extend operations in the shape of mining. The policy
of the board had been to reduce the expenditure as low
as possible, and it was satisfactory to find, that in-
stead of having to provide for the agents' draughts, they
were receiving remittances. Tne resolution to raise the
price for the town sections had been agreed to after
mature deliberation, and the anticipated influx of popula-
tion, especially if successful gold-diggers should seek the
locations of the company, would, there was every reason
to believe, justify the proceeding. The land was fertile
and the climate salubrious, and Sir George Arthur, the
late Governor of Van Diemen's Land, had stated that
their property in the neighbourhood of Emu Bay was one
of the finest in the colony. The grant and the pri-
vileges conveyed by the charter were of the most ample
description, and if gold should eventually be discovered
the shareholders might rest assured that their rights
would be fully protected. With regard to the direc-
tions sent to the agent to search a particular spot where
quartz and other geological indications had presented
themselves, sufficient time had not yet elapsed for the
receipt of an answer with the expected specimens. The
number of effective shares was 8,724, the quantity for-
feited being 991, while there were 285 which had never
been issued. In relation to the prospect of a dividend, it
was mentioned that the directors would recommend one
immediately they possessed the necessary funds. The
realisation of farming stock and cattle had produced a
considerable sum, but it was chiefly in bills, which had
yet to arrive at maturity. The gross amount was about
8,0001., nearly equal to IL per share, but they could not
at present receive the money. When remittances were
received, however, sufficient to pay ss. or 10s. per share,
the board would propose their distribution. The usual
complimentary votes were passed, and the proceedings
terminated in a very favourable manner, presenting a
remarkable contrast with the feeling exhibited at former
meetings.

" The board regret that they will not be enabled to
avail themselves of the kind permission to meet on the
20th instant, because they will not be in a condition satis-
factorily to confer with the committee until the share-
holders at their general meeting, which has been appointed
for the 20th instant, shall have elected six directors in the
room of those retiring, by ballot, as directed by the pre-
, liminary meeting.
" I remain, Sir, your faithful servant,
" SIDNEY SMITH, Hon. Sec.
" ' Mr . Sargeant Merewcther, Guildhall.
"A meeting of your committee was subsequently held
on the sth instant, when the order of the court of the 20th
day of January last, directing us forthwith to make a re-
port of our proceedings, giving a detailed statement of the
amounts expended, and to consider and report how the
the City's funds might be reimbursed the outlay that had
been incurred, and in the meantime directing us to take
no further measures in the matters referred to us, was
read, when we directed a report to be prepared, reciting
the whole of our proceedings to the present time.'
" That at our meeting we took into consideration so
much of the said reference as directed us to consider and
report how the City's funds might be reimbused the outlay
that had been incurred; and we resolved that we had no
suggestion to offer as to the mode by which the City's
funds might be reimbursed the outlay incurred in obeying
the reference from this honourable court, the result of
which had been duly reported. We also signed a warrant
to the Remembrancer for his disbursements in
on :sr :-- b-
ill
.2521 11
" We further certify that the whole of such
eagipvineusges,thaes
Parliamentary notices as directed by this honourable court.
Ch
in,
ae
rr bEe sr ql a , are
na t f s
u
paijdambyestwhe
alk.
James White Higgins, Ev., ditto ...
And Mr. Remembrance disbursements 7
ea.; 630
respecting the Parliamentary notice -
.....

15 11 0

£1,167 8 7
"All which we submit to the judgment oft his honour-
able court. Dated this tenth day of February, 1853.
(signed) gg
EDWARD HARRISON (Chairman).
R. °BEARD.
"" THOMAS DAant.
HENRY BLAKE.
THOMAS WRITE.
" JOHN 13RITTEN.
" GEORG-

WEST LONDON RAILWAY.—The half yearly general

Deputy II
did -P.
stated that he did -AGE VIRTRE.
meeting of this company was held yesterday, at the Lon-
Very few " W. TYLER.
, ringing up the
don Tavern, Mr. Stephen Bird in the chair. 4 rn
bit
EravocH."
shareholders were present. The report presented, which rt simply
short, relates almost entirely to the legal con-
was very upon the
in between' the company and the London matter it contained. The committee have test progress their duty, not desire to enter into arenco discussion
done
as they
and North-Western Company : "The directors, in mak- and reported,
He therefore "Fleetwere Valley Corn-
ing their previous half-yearly report, led the proprie- would move that the
mittee be documents and plans
tors to expect that judgment would be given by thedissolved, and that thewhich
in the directed to do.
had been obtained
Exchequer Chamber in the long-pending proceed_
at charge of that committee,
before the now coming meeting, and they are e of the reference in
mittee, which committee had.
ings against the London and North-Western Railwa great. expense, be referred to Improvement Com-
Company •
happy to inform the proprietors that judgment the matter of the Central
was pro- the motion.
nounced in 'January last, and that the judges in the Mr. DAKIN seconded
lace subsequently upon the
Exchequer Chamber unanimously overruled the decisions Much conversation took p
the resolution the word "re-
of the Common Pleas, and granted a new
propriety of admittinagfte
intor
a struggle of some length- on
grounds mentioned in a copy of the jocl trial, on the fermi ;" eventually, Railway Terminus scheme."
livered by Mr. Baron Parke, h* h -
wic gment, as de-
lieu thereof, the word " de-
accom anies this transterred in
satisfactory to the proprietors. Availi g
repirt, and which the directors thi 1. • P word ~
.__,.
n - will behighly ' • pd ~ was adopt".•
garrison for the insertion of the
of opinion that the desire
the suggestion of the court, that theclaimnthemselves of , Some
live
il the
rp_a_rt
ofo fthDeempeumty:frs.
the word " referred" in the original__ motion vT3
pang ought now to be settled b . of this corn- 'to insert
movement for the pm:p)se of hamp ri g the
principles laid down in the judgment,y arbitration, on the a designedroe_en
t Committee, a division was called for
for " deliverin " the
already intimated to the London the directorseshaeNr-ne , Improvement v m
he it appeared that weret,l,llelia•endng
being. .
them over; tog the
Company that they are prepared and North
theW
st
_. -ocu
d ments,
Ici.e.,
52 ; for "referring'.' the same
gestion of an arbitration ; but to abide byhave "g,
no., Improvement Committee;
21 ;majority in favour of the
received any reply from that at present they
how- to the said'committee, .
comn Probably, 3l. .
ever, they may ascertain the.views of. the London and amendment,
. The following members voted for the reference / nep us
North-Western Company meeting. I
before the coming
Should an arbitration be refused, the directors will yulro-
-- ultra :
1
Aldermen.—Finnis and Wilson.
July ,
coed at once to bring the case to a new trial
heavy ) Commoners.—Bower, Blades, Barnard) Cotter ell,
next, when they confidently expect
to
the. directors Correll, Causton, Fuller, Harrison, Muggeridge, Nicol,
damages." With regard to the canal, trafo as corn- Pead, Pewtress, Stephens (Deputy), Sully, Venables,
have to i•eport an increase in the total
well as' in the Wilson (j.), and Walter.
r, as
pared with the previous .half-Y e, ' Tellers —Messrs• D Ir. - eThe total traffic shows ' .. • a—in, Cork, Taylor (11. L.), and
traffic to and from the railwayira _
the to the railiray of 29 Blake (Henry).
an increase of 4,424 tons, the
5,558 tons. Tl 4 increase Several other matters of minor importance were then
tons, and from the railway.
rt
-.1 ale of coals." The report disposed of ; and the court adjourned h rtl
arises principally in the _
five o'clock. s o ybefore
.
was adopted. - --,