The Sun.
London, England, 1854-04-20 00:00:00

RAILWAY INTELLIGENCE.

GREAT LUXEMBOURG.

A special meeting cf the shareholders was held .on
,Tuesday at the London Tavern, preparatory to the spe-
cial general meeting of the company, appointed to be
held at Brussels on Friday next, for the purpose of con-
sidering certain proositions with respect to the 6 per
cent. guaranteed half shares ; Sir W. ,Maguay in the
chair: - - -

The CHAIRMAN said he regretted on that occasion that
he could not submit a report approved by all the direc-
tors, as there were differences of opinion at the board. in
respect to. a proposed arrangement with the- dissentient
holders of the. 6 per cent, shares. The majority of the
board was in favour .of the proposition, and he hoped
the shareholders' would support them' in carrying out.
that' arrangement. -It would be recolleCted 'that at.
- the ' last meeting there were six dissentients -.to. the.
filiatinial.ineasure.then agreed upon, .which was followed
by litigation iii the Court of Chancery.' At length
-an-alternative plan was proposed fair-the- sittleinent-
of the diffeOnces existing. between the board of directors
'and- the dissentient shareholders. The alteri,ative p'an
for-the conversion of the 6 per cent. kuiianteed-iihares
was as follows :7-.60,000 shares, having piiil 51. per.share,
would represent a capital of 300,0001., as in the first
plan- ; but -it was proposed that a further -payment ot,
Ms. per share shoilld be -madeon each shire, amounting
to- 90,0001.,. a,,d representing a capital of 390,0001. And
that on the surrender of these shares (61. 10s. paid) there
should be given to .the holders two obligations of 41;-
e'ach in exchange for every share of Cl. 10-i.-paid, or
120,000 obligationspf each,• representing a capital-of
480,000/. This would be equivalent to a bonus in ol.li-
gations of .90,001., which would untimately be increased
by 120,0091. when all the bonds were paid off, Making,
the entire bonus in capital 210.0001. The holders' being
paid off in obligations (or bonds), would escape the risk of
ordinary shareholders. The annual interest payab'e on
390.000/., at 6 per cent., would be 23.4001, and on the
480,0001. bonds, at 5 per cent. 24,0001-, being 600/. a-year
more than the former. According to the first plan, it
was proposed to call up no money bevoed the 300,0001.,
-and to give an ultimate bonus of 150,000/. in the shape
.of obligations. when paid_ off, and a 6 per cent. -prefe-
rence dividend, instead of a guaranteed _dividend ; while
in the second 'or alternative plan it was proposed to call
up 60s. per share, or 10,0001., and to give an ultimate
bonus in capital of 210,0001., at the same time giving
the 6 per cent,- shareholders bonds to the amount of.
480,0001., bearing 5 per cent. interest, and on being
paid off an additional sum of 320,000/. Owing 'to the
change in the state of the money market they had been
unable to obtain the advaece they were promised, so
that, unless they agreed to the proposition to raise the
90,0001., they would be compelled to make a call upon
the constituted shares. There
,was no doubt that, by
timely aid, they would, be *Labled to open the line
from Brussels to Namur in June next. The works an
the line from Niuntir to Arlon had been retarded,
,with a view to enable. rapid progress to be Made on
the line from Brussels to Namur. This arrangement
would not delay the opening of the other p4tion of
the line to. Arlon, as, on the completion of the first sec-
tion, they could concentrate their efforts on the second
section.. About 50;000/. would enable them to open
the line to Natnur iii .June. Unless the necessary
funds were immediately forthcoming, very advanta-
geous contracts to the company would be endangered.
Mr. W. A. WILKINSON, M.P., moved as an amend-
ment, to the effect, that a committee of nine share-
holders be appointed to investigate the affairs of the
company, to consult with the directors, and to report
the result of theirinvestigations to an adjourned meet-
ing_on the 16th of May next. He had no- objection to
.the proposed arrangementl provided it received the
sanction of the committee. -
Mr. Fmn seconded the motion.
A. long discussion ensued, in which Mr. Anderton,
Mr. L)on, Mr. A., 'Moore, Mr. D. W. Harvey, Mr.
Taunton, and other shareholders took part, which re-
sulted in . the reaction of the amendment, and the
adoption of the alternative plan proposed by the chair-
man, of settling with the 6 per-cent. preference share-
holders.

RAILWAY. TRAFFIC RETURNS.
THE GREAT NORTHERN RAlLWAY.—Traffic teturn fru
the week ending April 9, 1854 1.38,004 9 7
Corresponding week last year 15.593 6 4
LANCASHIRE AND YORKSHIRE RAILWAY..—Traffic re-
turn for •the week ending April 16, 1851 t 19,646 12 8
Corresponding week last year , 18,012 15 0
SCOTTISH CENTRAL. RAlLWAY.—Traffic retnr►, io the
week ending April 16, 1854.
Corresponding week last year 2.60 6 14
CORK AND BANDON RAILWAY.—Traffio return for the
week ending April 15, 1854 £215 9 5
Corresponding week last year 2ll 16 1
CHESTER AND HOLTHiAD RAlLWAY.—Traffic return tot

the week ending April 16, 1854 £4,027 18 •5
Corresponding week last year '

Increase in 1854

£516 9 7

SiIIPPING INTELLIGENCE

NOTTCE TO MAIUNERS.

-LIGHT-VESSEL OFF THE FRYING-P.AN SHOALS. CAPE
FEAR, N.C.
A light-vessel will be place,l, during the month of'Aptil
next, off the southern extremity of the Frying-pans Shoals,
Two lights, each produced by eight la,naps ant' .parabolic
- reflectors, will be shown 'from this ve,tsel, at an elevation
of about 40 feet above the level .of the sea. This vessel has
two masts, is about 100 feet long, 250 tons, and the top of
• the gunwale about ten feet from the water-line:
The hall is painted yellow, with ".Frying-pan Shoals"
in large black letters on both sides. The lower mats are
painted yellow, the top masts.white, with an open-work
oval day mark, five-feet in diameter, painted black, at an
elevation of about 53 feet above the water-line.
This vessel will be placed in nine or ten fathoms water,
at.the distance of about 19 nautical miles from Bald Head
Lighthouse, and about 23 tiauticid mil s from the Federal
Point Lighthouse; off the southern extremity of the shoals.
making-bat in about a,S.S.E. 'direction from Cape Fear.
The following magnetic be rings will show the approxi-
mate position of this vessel : •
From Light-vessel to Bald Head Lighthouse, N.N W. 4
w..

From Light-vessel to Federal Point Lighthouse, N. by

From Light-vessel to centre of outer breakers, N.N.W.
W.

The southern extremity of t',e breakers, with only ten
feet of water upon them, will ho about four nautical wiles
inside of the position of tliJ vessel. A shoal spot, with 16
feet water u it, will bear about N.W. 4 N., distant about
2i nautical miles ' • and another shoal spot, with 13 feet of
water on it, wilt bear about N. E , distant I,i, nautical
miles from the vessel.

The soundings to the Eastward of the position of this
Light-vessel will be found to be in general, gradual and
uniform, from 10 to about 6 fathoms before deepening,
atter crossing the outer extremity of the Shoal in the vi-
cinity- of the Light-vessel ; and the soundings to the West-
ward gradually deepening from the vicinity of the vessel,
from 9 and 10 to 15, 17, &c., fathoms.
Sailing vessels of heavy draught should not be run in
-bad weather into less than 15 to 18 fathoms water in pass-
ing these shoals. Steamers and small sailing vessels may
be run with safety, under ordinary circumstances of wea-
ther, on the line East and West, upon which the Light-
vessel will be placed.
Notice will be given of the precise time at which this
Light-vessel will be placed in her position and the lights
exhibited, accompanied by correct bearings and distances,
and the approximate latitude and longitude.
By order of the Lighthouse Board.
Wilmington, N.C., 15th March, 1854.
CUSTOM-HOUSE, APRIL P.

ENTERED INWARDS.—The Glommen, from Freilerick-
ehald Hannah and E eanor, Charente; Yorkshire, Stettin;
Rival, Terceira; Odeu, Grebbestad ; Eindragt, WOrellin
Neptimus, Leghorn ; Vigilant, Sannesund ; Dantzic, Stat-
helle ; Duiveland, Rotterdam; Icobtui, ditto; Nsjaski,
ditto ; Carl, Stralsund ; Mine, Burgertief ; Eglantine,
Havre ; Emanuel, Christiania ; Eucharist Saute:mind ;
Nathalie Jacobine, Hudsend ; Frau Jantje, Carolinensiel ;
Hilida, ditto ; Bahia, Laurvig; Maria, -Addenalla ; A bel-
one, ddense ; Maria, Handers; Johan Carl, Christiania;
Wandringstna.ndeu, ditto; Nordpolen, Sanuesund ; Annie
Louise, Aalborg; Henrich, Praesto ; Jantina. Annechiva,
Galatz ; Frau Peta, Rostock ; Cita, Memel ; Mathild, ditto;
Odin Catherine, Sa,nnesuud ; Flora, ditto ; this, Chris-
tiania; Flora, Sarpsburg ; Christians Haab, Felmem ;
Maria Elizabeth, —; Weile, Weile; Leon, Gravelines ;
Leonne, ditto ; Enrot, ditto.
ENTERED OUTWARDS FOR LOADING.--The John Laird,
for Swan River; Minkinka, Konigsberg ; Paquita, San
Sebastian and Gijon ; Reusina, Danzig ; Vrou Maria,
Leek; Drie Gebroeder, Sydney ; Royal Lily, ditto • Vrou
Johanna, Marburg..; Wandrigsmanden, Christiana,
and Noss ; Woodcock, NeW YO'rlz ; William Stuart, Syd-
ney; Atalanta, Berbice ; Bacchsuti, Teneriffe and Sierra
Leone ; Mouravia, Cape Coast Castle and Feririndo Po ;
Eliza, Kurrachee and Bombay; Guttenberg, Guttenberg ;
Thetis, Adelaide ; Mary,. Latinces',on.
CLEARED OUTWARDS WITH CARGO —The Hannibal, Co-
penhagen ; Win. Septimus de Septima, Antwerp ; Cash.
mere, New Z.:alai:id; Ryswyck; Melbourne; Eliza, Kur-
rachee and BoinbaY; Jane Morehouse, A.utwerp ; Alfred,
Stockholm ; New England, New York.