The Sun.
London, England, 1838-02-12 00:00:00

Mr. HENRY BRUCE, a Proprietor, observed that there
appeared to be a balance in hand on the 31st of Decem-
ber of 127,000/. He observed further, that a call had
been lately made of 10/. a•share. He begged to ask
whether the Company were receiving interest for that
balance—what that amount of interest was, and how the
money was invested ? . _

The CHAIRMAN—The total amount of interest received
by the Company up to the 31st of December was
3,532/. 9s. 9d., and the interest varied from two-and-a-
half to three per cent.
Mr. BRUCE—Am I to understand that the Company is
receiving two-and-a-half per cent. on 127,000/.
The CHAIRMAN—Minus the balance in the hands of
the bankers.

Mr. BRUCE—What is the amount at present at the
disposal of the Company ?
The CHAIRNIAN.—Between 70,000/. and 80,000/.
Mr. BRUCE—Then with this large balance, may I be
permitted to ask what has led to the call of 101. per share ?
The CHAIRMAN—The rapidity of the works now in
progress ; and it will take some time before the calls come
in, as they were scattered over a space of three months.
Mr. BRUCE—SO far as I can learn from that Report,
a sum of 44,0001. has been paid for works, and about
100,000/. for land : may I ask how much of the land actually
required has been paid for with that sum ?
The CHAIRMAN—FuIIy one-half.

Mr. BRUCE—And do you expect to pay as much for
contracts for works and for land as will require the 80,0001.
in hand and a call of 101. per share ?
The CHAIRMAN—Most decidedly ; and I ought to add,
that the Proprietors should be apprized that this is the
year in which the amount of calls will be the highest.
Mr. BRUCE—I don't object to the call by any means-1
should be glad if they were made twice as fast.
The CHAIRMAN—In the spirit of your remark I may
add, that the Directors are endeavouring to hasten the
works, so far as is consistent with their due execution. On
the other hand, the Act of Parliament limits us to a cer-
tain interval between the calls, and thus obliges us, if I may
use the expression, to look more ahead than we otherwise
should.

Mr BRUCII—The reason I alluded to the call is, that
the amount expended appears so small, up to the time the
report was prepared. _

The ellAlltMAN—That is only to the 31st December ;
but the amount of works contracted for since, has been
very heavy, and tiaere is a very large weekly expenditure
now going on.

Mr. A. GOLDS3IID, a Proprietor—ln order that the ques-
tion he was about to propose might be answered in a proper
manner, he should move that the Report now read should
be received and adopted. Of course that Report con-
tained an accurate account of the proceedings of the con-
cern since the last meeting, and he only thought it neces-
sary to offer a few observations upon what had fallen from
the Chairman. It was extremely satisfactory to the Corn-
pany to know, that all matters relative to it were commu-
nicated to them without reserve. Publicity was of the
greatest importance to their welfare, and it was the best
test that the Directors were discharging their duty for the
benefit of the Company. He was extremely sorry to learn
that the expense exceeded the estimate. An apology or
explanation had been made ; but still he must regret, in common
with the other proprietors, that the expense, instead of falling
short,would exceed the estimate. That had probably arisen
in the present case from unavoidable accidents, which
could not have been foreseen. It would, however, be ex-
tremely satisfactory, in the first instance, to learn to what
extent it was likely to occur in the present Company. It
would be a great satisfaction to the minds of the proprietors
if they were made acquainted with the amount by which
the expenditure would exceed the estimates, so far as a judg-
ment could be formed on the subject. In putting that
question, however, he felt no hesitation in moving that the
report be received and adopted ; and he hoped befbre the
proceedings had terminated the Chairman would give the
meeting some information on the subject.
The motion having been seconded by Mr. HENDERSON,
Mr. PARSONS wished to call the attention of the
meeting to one part of the Report. He was extremely
anxious that a statement should be made of the actual
quantity of earth-work on the line. He hOped that would
he' shown on some drawing or section, to which all the pro-
prietors might have access.
The CHAIRMAN nid, that if he understood the wish of

the Hon. Proprietor, he was dei4ircns that a section or
drawing of the work should be deposited in some place to
which the proprietors could have access ; and that a sec-
tion of the quantity of earth-we:1: should be given, in order
to show how the actual quantity done ktpt up with the
figures put down by the engineer. There could he no diffi-
culty whatever in acceding to that request of the Hon. Pro-
prietor, indeed it was actually in progress at • the present
time ; and he might also add, in answer to the Honourable
Proprietor's question, that the information might be ob-
tained at the offices of the Company, in George-street,
Mansion-house. With respect to the question put by
the Honourable Proprietor who had proposed the' Re'
lution, he wished to answer it as far as he could. He
had been kind enough to put the question in a way that
considerably relieved him from the difficulty in which he
was placed in answering it, as he had made it general instead
of entering into detail. The excess in round numbers might
be estimated at 20 or 25 per cent. If his Hon. Friend would
compare that excess with that which had taken place in other
Companies, he would see that it was comparatively light,
as compared with other instances. If any person reflected
upon the manner in which the Parliamentary estimates
were got up, and considered the difficulty of stating clearly
on what species of soil the slopes and cuttings were to
be made until the works were in progress, they would dis-
cover that it was almost impossible for any
engineer to
make clearly and accurately a calculation upon the subject.
One of the principal excesses is in the quantity of earth-
work, which has been unavoidable, in consequence of a variety
of causes which were particularly alluded to in the report,
from the improvement in the curves. There was,-likewise,
one other heavy item which had been rendered necessary
in passing through the Belper Valley, which had not been
contemplated, arising from a tunnel which was obliged to
be made in consequence of the opposition of certain
parties. Then there was a general observation, covering
the whole, which was,that since the original estimate, there
had been a considerable rise in the price of everything ;
and, from the number of railroads that were now going on,
the contractors had taken advantage of that circumstance,
and have increased their prices to the Company, although
they had, by subdividing the contracts, done all in their
power to introduce a second class of men, in order to in-
duce competition. He believed, however (and they had
been assured front a most competent authority), that such
would be the fact, and he hoped the proprietors would be
of the same opinion, that there was no great chance in
this undertaking of having any of those heavy charges
for extra work, which was the great feature in other
works ; he trusted, therefore, under these circumstances,
that a liberal allowance would be made, in order to cover
the whole expense. The proprietary must also remember
that when they talked of increasedexpenditure, they alluded
also to the money that was necessary to provide the Com-
pany with locomotive power, which was never included in
any Parliamentary estimate.
'Mr. PARSONS—Is the charge for locomotive 'carriages
included in the present estimate ?
The CHAIRMAN— We hope so. If no other Proprietor
has any question to ask, I will put Mr. Goldsmid's motion
fur the approbation of the Meeting.
Mr. PARSONS wished to know what the average amount
of the earth-work was per mile ?
Mr. SWANWICK (Sub-Enginer) said that the Parliamen-
tary estimate amounted to 7,0001., and the revised estimate
to 8,0001. per mile.
Mr. PARSONS believed that the Parliamentary estimate
was 100,0001.
Mr. SWANWICK thought the Parliamentary estimate
was 70,0001., and that the real estimate was rather more
than 80,0001. ,
The CHAIRMAN then put the motion, that the Report
now read be adopted for the approval of the Meeting ; and
declared it to be carried unanimously.

The SECRETARY said that the next business of the day
was to supply the place of those Directors who went out
according to the provisions of the Act of Parliament.
Mr. HUTTON proposed that the gentlemen going out
should be re-elected.

Mr. PARSONS having seconded the motion, it was put
to the meeting by the Chairman, and declared to be carried
unanimously.
The following resolution was then moved by Mr. THORN,-
TinyArrt, and seconded by Mr. BARNWELL :—" That the
thanks of the Meeting be given to the Chairman, Deputy
Chairman, and Directors, for their valuable services."
The C*AIRMAN returned thanks. In doing so he had a
double duty to perform ; first on behalf of his colleagues and
himself, for the honour the Proprietors had conferred on
them by re-electing them to fill the office of Directors;
and, secondly-, on his own behalf, for their approval of his
conduct in presiding over the meeting that day. Ho could
assure the Proprietors that his colleagues and himself hada
moat sincere wish to promote the success of the -preent
undertaking, and be felt no doubt that their greatest ex-
pectations would be fully realized. lie ought to have
mentioned , for the satisfaction of Mr. Goldsmid, that
although they had .been guilty of exceeding their estimates,
on the other hand their traffic had been considerably un-
derrated, and therefore what they had taken from the pro-
prietors in consequence of exceeding their estimates, they
more than repaid them by underrating the vast traffic
which they would have upon their line.
The Meeting then separated.

THE SLAVE TRADE.
LORD BROUGHAM'S SPEECH IN THE HOUSE
OF LORDS, UPON THE SLAVE TRADE,
MONDAY, JANrARY 29, 1835 ;

WITH AN ABSTRACT OF TIII DDiCUSSLOS IA-'IIICII ENSUED,

PRINTED FOR TILE ABOLITION COMMITTEE.

TO RICHARD, MARQUIS WELLESLEY, K.G.,

ETC. ETC. ETC.

In compliance with the wishes of the friends of the Alio-.
lition, I have revised the report of this Speech, in order
that the facts which I yesterday brought before Parliament,
and which all admitted to be truly stated, nay to have been
rather understated than exaggerated, may be made known
through the country. I believe these pages contain, as
nearly as it is possible, what I spoke in my place.
To your Lordship they are inscribed with peculiar pro-
priety, because you are one the oldest and most staunch
friends of this great question, and because your animated
descriptions of the Parliamentary struggles in its behalf, at
which you have assisted, and of the eloquence of other
times which it called forth, has formed one of the most in-
teresting of the many,' conversations we have had upon the
scenes of your earlier life. My own recollections do not
reach so far back ; but I have now been a zealous, though
humble labourer in the same cause upwards of six-and-
thirty years ; and it is truly melancholy to reflect that the
Slave Trade still desolates Africa, while it disgraces the
civilized world, hzrdly covering with less shame those who
suffer than those who perpetrate the enormous crime.
May we hope that at length the object of our wishes is
about to im attained!

This Dedication is offered withoue,your permission having
been asked. It gives me an opportunity of faintly expres-
sing that admiration of your truly statesman-like genius
which all your countrymen feel who have marked your il-
lustrious career in Europe as well as Asia ; and that gra-
titude for your past services, which in the public mind never
can exceed the affection of your private friends.
But I will confess that another motive contributes to
this intrusion upon your retirement. During the years
that the controversy has lasted, I have written and pub-
lished many volumes upon it ; this is the first page to
which I have set my name ; and I naturally feel desirous
that it should have tte advantage of appearing in com-
pany with one so incomparably more eminent.
BROUGHAM.
Jan. 30, 1838.

My Lords,—l hold in my hand a petition from a nume-
rous and most respectable body of your fellow-citizens---
the inhabitants of Leeds. Between 16 and 17,000 of
then have signed it ; and on the part of the other inhabi-
tants of that great and flourishing community, as well as of
the county at large in which it is situated, I can affirm
with confidence that their statements and their prayer are
those of the whole province whose people I am proud to
call my friends, as it was once the pride of my life to repre-
sent them in Parliament. They remind your Lordships
that between 18 and 19 millions have been already paid,
and the residue of the 20 millions is in a course of pay-
ment to the holders of slaves, for some loss which it was
supposed their property would sustain by the Emancipa-
tion Act ; whereas instead of a loss they have received a
-positive gain ; their yearly revenues are increased, and the
value of their estates has risen in the market. Have not
these petitioners—have not the people of England a right
to state, that but for the firm belief into which a generous
Parliament. and a confiding country were drawn, that the
Bill of 1833 would occasion a loss to the planter, not one
million, or one pound, or one Lenny of this enormous sum
would ever hate been granted to the owners of slaves?
When it was found that all this money has been paid for
nothing, have we not an equal right to require that what-
ever can be done on the part of the planters to further a
measure which has already been so gainful to them, shall
be performed without delay? Have we not an undenia-
ble right to expect, for the sake not more of humanity to-
wards the negroes than of strict justice to those whose
money was so paid for nothing, under a mere error in fact,
we, who paid the money, shall obtain some compensation?
And as all we ask is not a return of it, not to have the
sums paid under mistake refunded, but only the bargain
carried into full effect ; whin the Colonial Legisla ores re-
fuse to perform their part, are we not well entitled to com-
pel them ? In a word, have not the people of England a
right to demand that the slavery which still exists under
the name of Indentured Apprenticeship, shall forthwith
cease—all pretext for continuing it, from the alleged risk of
the sudden change or the Negro's incapacity of voluntary
labour, having been triumphantly destroyed by the univer-