The Sun.
London, England, 1854-05-01 00:00:00

RAIL WAY INTELLIGENCE.

GREAT INDIAN PENINSULA.

The half-yearly meeting of this company was held
on Friday at the offices, New Broad-street ; Mr. W. J.
Hamilton in the chair.
Mr. Nicholson read the report, an abstract of which
appeared in The Sun of Friday.
The CHAIRMAN, in moving the adoption of the report,
stated that the second section of the line from Tannab to
Callian would be open for traffic on the Ist of May. The
receipts on the first section of the line, from Bombay to
Tannah, 22 miles in length, amounted, from its opening
on the 18th April to the 31st December, 1853, to 8,9631.,
and the expenses to 4,1141., leaving a profit of 4,8491.
The cost of that portion of the line to Tannab, 22 miles
in length, had been about 10,0001. a mile, or 220,0001.,
and the balance upon the first seven months' working
would give them a return at the rate of about 3i per
cent, per annum on that outlay, and that, too, notwith-
standing that as yet they had received no goods traffic,
which they had always looked to as their principal source
of revenue, and which they would no doubt receive when
the line was extended in the direction of the Ghauts. He
thought, therefore, they had a certainty that in a very
short time the line would pay them the 5 per cent. gua-
ranteed to them. By the last accounts it appeared that
the first portion of the south-east line, a distance of 12 or
13 miles towards Poonah, was being rapidly prooceeded
with, and that the expense would not exceed 7,0001. a
mile. The surveys both to the north-east and the south-
east were being rapidly proceeded with ; and, since the
last meeting, they had sent out a large engineering staff'
to India to prosecute surveys before the extension lines
were determined upon. From all that had taken place,
however, the directors had no doubt that the line, as
originally projected, through the Ghauts to Kandeish,
would he the one adopted as the trunk line from Bom-
bay to the north-western provinces of India. The further
extension of their line between Callian and Chaunpore
was rapidly advancing, but the period for opening could
not as yet be fixed upon. The Governor of Bombay had
taken great interest in their progress, and had personally
inspected several of their projected extensions ; and he
(the chairman) thought there was little doubt the line, by
the Bhore Gauts as originally projected, would be the
one adopted. There could be no doubt that the railways
would prove of great benefit to the Government, by the
rapidity with which the troops might be removed ; an d
upon a recent occasion a detachment of 600 troops
were conveyed from Bombay to Tannah in less than three
hours, and the relief conveyed from Tannah to Bom-
bay in the same space of time, whereas, under the old
system, four or five days would have been occupied in
the operation. When Lord Hardinge ws.s Governor-
General in 1846, he had estimated that 50,000/. per
annum might be saved, in the removal of troops, by the
introduction into India of railways, and they would,
therefore, see what immense advantages were likely to
accrue to the Government from the railways now in
course of construction. (Hear, hear.)
Colonel GRANT seconded the resolution, and a short .
conversation ensued, which it was stated that, as the
line was originally projected, the gradients through the
Ghauts had been for a considerable distance laid down
as 1 in 20 ; they had since been reduced to 1 in 35 for
81 miles ; and by a more recent survey, for 5 miles, and
it was believed that even more favourable gradients might
yet be discovered.
The report was then adopted, and the retiring direc-
tors and auditors re-elected.
The meeting was then made special, when the bill now
before Parliament for amending the acts of the company
was approved. This bill provides, after securing to the
original proprietors their guarantee of 5 per cent., that
the surplus profits shall go to increase the 41 per cent,
guarantee on the extension capital to 5 per cent., after
which each class of shares will rateably participate in
any additional receipts.
A vote of thanks to the chairman closed the proceed-
ings.

DEMERARA.
The annual meeting of this company was held at the
London Tavern on Friday—Mr. J. R. Carmichael in
the chair.

Mr. W. R. COLE read the advertisement convening
the meeting and the report, which says :--
"At the special meeting of proprietors held in Octo-
ber last, authority was given to the directors to borrow
the sum of 20,0001., under the colonial guarantee of in-
terest for a term of years, for the purpose of finishing the
line to Mahaica, and providing additional plant to ac-
commodate the traffic. In consequence, however, of
the state of the money market, the directors have thought
it advisable to defer the negotiation of the loan until a
more favourable opportunity; but of the 20,0001. then au-
thorised contracts have been entered into for the supply of
such rolling stock as was absolutely essential, and some
necessary works have been constructed in the colony.