The Sun.
London, England, 1854-12-19 00:00:00

RAILWAY INTELLIGENCE.

GREAT LUXEMBOURG.

The report of the new directors of this company—
namely, Messrs. T. Close, J. Hutchinson, W. Reed,
and M. Uzielli, who, on the requisition of a large and
influential body of shareholders, became directors on
the 11th of August last, states that the accounts which
have hitherto been presented to the shareholders have
not in every instance explained the mode and purposes
in and for which the money had really been spent.
The accounts which they now bring under the con-
sideration of the shareholders set forth the true
nature of every item in the expenditure from the com-
mencement of the undertaking down to the present time.
They show the large amount of money which has been
spent in matters which have little or no connection with
the execution of the canal and railway works. The pro-
ductive expenditure on the undertaking up to the present
time appears to stand as follows:—Land and works on the
canal, 34,3791.; land and works on the railway, 426,4391.;
on the permanent way, 80,392/. ; and rollingsteCk 39,224/.
---together 5;0,3441. There is also the balance of cau-
tion money due from the Belgian Government, 16,000/.,
as well as the sum under that head which has been
transferred by the State from the funds of the cern-
eany to the credit of the Grand Junction Railway,
20,0001., making a total of 616,3441. They state that
this must appear a Billetl amount, compared with the
aggregate of the expenditure up to the present time—
viz., 1,355,296/., but of which 176,3301. has been re-
turned to the shareholders in the form of interest upon
calls, during construction, in conformity with the sta-
tutes. This is independent of 9,2701. interest paid on the
obligations. On their accession to the board they found
the actual financial position of the concern most de-
plorable. There were no funds whatever wherewith
to carry on the works ; bills of exchange had been
given to contractors, which were approaching or had
arrived at maturity ; considerable debts were due to
bankers and other parties in London, whe were ur-
gently pressing for the repayment of their advances; the
credit of the company was entirely destroyed, an the
ruin of the whole property imminent. There was no
alternative but to make an immediate call, which
was responded to by 54,390 shares out of about
79,000 shares in the hands of the public. The sum actu-
ally received from this call, less the interest, is 97,9021.
which has all been absorbed by the pressing wants
of the undertaking. The large amount of arrears is sins
peratively necessary for the payment of the works in
progress, and they urgently recommend these arrears to
be immediately discharged. Mr. J. Locke, civil en-
gineer, who has inspected the railway and the district
through which the line is intended to pass, deems it ne-
cessary to provide a sum to complete the undertaking,
with all its appliances, nearly identical with that which
the company have the power to receive from future
calls, front the obligations not yet issued, and
from the return of the remaining caution money.
They are of opinion that the portion of the line, thirty-
five miles in length, between Brussels and Namur, will
have a considerable traffic upon it, and that it will be
much above the mileage average of 2,5001. per mile now
received on the Belgian States lines. The new direc-
tors believe that there are sufficient elements of suc-
cess to warrant them in recommending the shareholders,
by a prompt and effectual support of an efficient
administration, to rescue their property from its
present position. They strongly recommend that the
energies of the company be for the present confined to
the making of the main line of railway. They re-
commend the whole beard to place their seats at the
disposal of the proprietors, in order that proper per-
sons may be elected. Since the 31st of December,
1853, there has been paid about 270,0001. for works,
land, &c., irrespective of a further sum of 20,0001. which
has been deposited as caution money on the Grand
Junction lines. The share capital appears to be repre-
sented by about 90,000 shares of 201. each, 121. called
up, and the bond capital, 120,000 bonds of 41. each.
These Matters are in course of investigation. There
are 8,960 shares in the company's hands, against an
advance of 58,000/. from the company's funds, and it
is probable the money will not be forthcoming. Should
this anticipation be realised, .they recommend the
shareholders to authorise the distribution rateably
of the 8,960 shares among the proprietors who have
paid the last call of 2/., upon payment to the com-
pany of a similar sum per share on their allotment.
Appended to the roper!: is an historical account of the
share capital. It appeared that, of the 142,436 shares
upon which the deposit of 2/. per share had been paid in
1845, only 36,902 remained after the third call was
made, and 71. paid, the remainder of the shares hav-
ing been forfeited. On the 21st of July, 1848, the
board determined to issue bonus shares to all holders
of shares who bad paid up their calls to 71. ; every
holder of five such shares might, on application
and payment of 1/. per share, receive one share of 101,
written up as paid. 5,839 101. shares were issued for this
purpose, on which was paid 1/. On the 31st of Oct., 1848,
the directors created a number of 101. shares, and bad
them sold in the market for what they would fetch. In the
course of three years 18,788 of these 101. shares were
sold, on the average, for 365. 6d. per share, and
produced 33,868/.7 the nominal value being 187,8801.
In 1849 the board ordered 3,000 10/. paid shares
to be created for secret service. These shares were sent
to Mr. J. Ashwell, at Brussels, to be there issued to
various influential persons in Belgium, for the pur-
pose of securing their suppor'. No money was paid
to the company for these 3,000 shares, but in their
books 5,92 1 was entered as b it g rec ived f r th m
and placed per co,,tra to the fano ei ig accounts :
Works and engineering, 1,500/. ; land and Compensa-
tion, 1.925/. ; law charges, 2,500/. ; total, 5,9251.
Of 60,000 Six per Cent. guaranteed shares created 42;329
shares were issued to the proprietors ; 5,000 at 51.
(25,0001.) to Sir W. Magnay, in connexicn with the
Grand Junction Railway ; and 9,000 were disposed of
in 1854 ; leaving 3,671 in the hands of the secretary.
The accounts to the 31st of December, 1853, showed
that 1,C93,1891. had been received in various way., and
1,064,1511. expended, leaving a balance of 29,0371.

MAJOR GLAZBROOK.—We are happy to be able to
correct an announcement of the death of Captain (now
Major) Glazbrsok, of the 49th Regiment, which ap-
peared in the Daily News. Accounts from Constanti-
nople state that on the sth the gallant major was
progressing favourably at Scutari.
THE IRISH MILITIA.—An order has issued from the
authorities to have the Kerry Regiment embodied.
Major Verner, of the Queen's Royal Antrim Rifles,
issued orders, on the 12th inst., in conformity with in-
structions from the Secretary at War, for the immediate
embodiment of the volunteers already enrolled.
THE POST-OFFICE AT BALAELAVA.—A. priVal 0 COT-
respondent at Malta writes : " I h .ve been informed
by officers just returnei from the Crimea, that on apply-
ing at the post office at Balaklava for newspapers,
they were desired to enter a large re out, and take their
choice, as they had no time to sort them, and from the
immense number accumulated together, this is an Her-
culean labour, and it generally results in the party
taring off the ens s'opes of a number of any that
comes first to hand. This will account for so many
miscarrying."
CHRISTMAS IN THE CRIMEA.—WO are gratified in being
able to announce that Mr. Edward Churchill, of the
resourcessoef
of making and supplying our troops with plum-pud-
dingse
ChiaglvseprlleenydHidoteeslta,
bTinisnmbernidtgien,
rheacisuispiutitonthfor
to the number of 160, and which, when cut into
hairpounda, will enable several thousands to partake of
that cheer without which an Englishman's Christmas is
not complete, and we believe it is his intention to remit to
Cheltenham orders that the same course may be adopted
in his establishment there.—Sussex Express.

---
CAMBRIDGE PARCEL FOR THE CRIMIA.—A. collection
of left-off wearing apparel and other useful articles has
just been made by the members of the University,
for our brave countrymen in the hospital at Scutari
Nightingale.g2os wons
or
dressingtf iclleisis: 3.--
;
aBact and
waistcoats
followingc consoat
si ga7nrat
leendwaistcoats,
reel
5a
265 tr ofina an' renrhesel,
140 shirts, 110 pairs of stock-
ings, 42 pairs of shoes, 40 caps. Several dozen pairs
of gloves, muffetees, handkerchiefs,. &c. 31 packets
of tobacco, and some cigars ; 1 box of pipes, 6 packets of
cocoa, and some tea ; 480 volumes of light literature,
several bibles and prayer books ; a surplice, and 1
King's scholar'S-gown. The whole were received and
packed by Messrs. Metcalfe, and Bulstrode, in nine
large cases, weighing together upwards of one ton, and
forwarded on Wednesday last by the Eastern Counties
Railway Company, who kindly conveyed them to London
free.— Cambridge Chronicle.
PRISONERS OF
WAR.—A copy of the Convention be-
tween her Majesty and the Emperor of the French re-
specting prisoners of war, signed at London May 10,
1854, was laid before Parliament a few days
.ago. It
contains five articles. The first article provides
that
the prisoners made in the course of the present war shall
be divided equally between and that
whenever the two countries,
whenever one of the two countries shall have maintained
greater number of prisoners, an account of the excess
of shall be rendered a - expenditure every three months,
and repayment be made of the half of the amount by
the Government of the other country. Depots esta.
blished for prisoners in any foreign country are to be
supported by both the Governments. As regards the
exchange of prisoners, no distinction is to be made be-
tween the respective subjects of the two Governments
who may have been captured, but their liberation is to
be stipulated, except in special cases, according to the
priority of the date of their capture. The fifth article
refers to the ratification of this convention, which took
place in• London on the 20th of May last.
THE WRECK OF THE CHARLOTTE.—Captain Affieck
.
late of the Charlotte, from
London and Cork for Cal-
cutta, with troops, wrecked in Algoa Bay in September
last (as previously reported in The Stun), landed at Deal
last Friday morning from the ship Shepherdess, reports
his son, chief officer, steward, and butcher, and three of
the ship's company saved ; 113 souls lost ; saved. 5 offs.
cers, 102 men, and five women, of 27th Regiment.
. A PLURALIST.—The Rev. C. A. Thurlow, who has
just been appointed to the chancellorship of Chester
diocese, has at present on his hands the duties of the
tollowiug offices :—Rector of. Malpas (worth 1,0001. a
year), prebendiary of York Cathedral, rural dean of
Malpas, canon of Chester, and chaplain to the Archbishop
of Canterbury.
THE CRIMEAN ARMY FUND.—The committee of the
Crimean Army Fund have freighted a steamer to con-
vey various articles of necessity and comfort to the
troops in the Crimea. They comprise beer, wine, spirits,
bacon, preserved meats, soups and vegetables, tobacco,
arrowroot, soap, stationery, ironmongery, books, &c.
among the latter are 10,000 volumes collected and pre.
seated by Mr, Albert Smith.