The Sun.
London, England, 1853-09-01 00:00:00

CORNWALL.

The Fifteenth half-yearly meeting of the shareholders
in this company was held on Saturday last, at the Town-
hall, Truro. M. Williams, Esq., the chairman of the
company, presided. The meeting, as usual, was not very
numerously attended,— arising, we believe, from the
very great confidence the shareholders have in their pre-
sent chairman, secretary, board of directors, and other
officials. Among those_ present were M. Williams, Esq.,
M.P. (chairman), W. H. Bond, Esq. (secretary), P. P.
Smith, Esq. (solicitor to the company), W. M. Tweedy,
Esq. (deputy-chairman), T. J. A. Robartes, M.P.,
Glennie, Esq. (resident engineer), Messrs. H. P. Stokes,
Gwatkin 0. Carlyon, R. W. Fox, R. Pearce, J. R.
Paull, J. Olver, W. P. Williams, R. Rogers, A. Jenkin,
T. Henwood, . Clyma, E. Heard, W. Raynard, J.W.
Jenkin, Knuckey, jun., E. F. Carlyton, J. Gatley, etc.
The CHAIRMAN opened the proceedings by calling on
the secretary, W. H. Bond, Esq., to read the advertise-
ment convening the meeting, and affix the seal to the
register of shareholders, which being done, the secre-
tary proceeded to read the reports and statement of
accounts.

DIRECTORS' REPORT.
The directors have to present the accounts of the past
half-year for the information of the shareholders, by which
they will observe that 67,0291. 2s 9d. remained in hand at
the close of the last account, that the sum of 67,5741138'8d'
has been received, and 78,9401. 15s. 10d. expended, and
that the sum of 55,6631. Os. 7d. remained to the credit of
the company on the 30th of June last.
The directors have found it necessary to enforce in every
practicable way the payment of cal:s in arrear, and have to
' some extent succeeded; they are still proceeding to recover
from other parties the calls at present due from them.
The directors have taken into their best consideration
the propriety of returning to the practice of paying inte-
rest on paid up calls, as authorised in the Vllth section of
this company's act, and after mature deliberation have de-
termined to pay, during the period of construction, 3i per
cent. per annum on all sums paid in respect of cals made
subsequent to the recommencement of operations in April,
1852, persuaded that such an arrangement will greatly
benefit the undertaking, and be an act of justice to the pre-
sent shareholders. The Interest Warrants will be issued
on the 25th March, and the 29th of September of each
year.
It must, however, be remembered, that not only the
interest on all the amount paid up will be forfeited during
the time any call remains unpaid, but that interest at the
rate of 4 per cent. per annum will be invariably charged
on all calls not paid when due, during the time they remain
unpaid. The shareholders must not be surprised therefore
at the strict enforcementof this provision of the company's
set
The works between Truro and Falmouth have been let
to Mr. Samuel Garratt, on satisfactory terms, and within
the estimated amounts.
The works between Truro and St. Austell have been pro-
ceeded with as rapidly as the circumstances of the case
would at all admit of, and will be completed by the time
originally fixed upon. The heavy works between St. Aus-
tell and Lostwithiel are in active progress.
The whole of the works along the line are let with the
exception of the portion between Liskeard and Saltash,
and for. this portion your engineer has been authorised to
obtain tenders.
Your directors feel the importance of completing your
line as early as practicable, and will use every exertion to
press forward the works without delay.
Satisfactory arrangements having been made with the
West Cornwall Railway for the use of their Newham
branch, the bill introduced into Parliament by this com-
pany has therefore been withdrawn, as your directors be-
lieve that all the objects contemplated by it will be now
attained.

ENGINEER'S REPORT.
18, Duke-street, Westminster, Aug 22, 1853.
Gentlemen,—Since the last half-yearly meeting, we have
been steadily progressing in the letting of the remainder of
the works, and the execution of those already contracted
for.

At present fifty miles out of the entire line to Falmouth
(sixty-three miles) including all the tunnels, and most of
the principal works of any magnitude are contracted for
in a satisfactory manner. Over the greater part of this
length the works are in progress, and upon the rest, all
necessary arrangements are made for commencing and pro-
ceeding at the periods determined upon, so as to secure
their completion at the proper time, without needlessly
advancing the expenditure of capital.
Upon the contracts first let from Truro to St. Austell, the
works have proceeded as fast as we have obtained posses-
sion of the land; and the earthwork generally is as far ad-
vanced as the periods defined by the contract require ;
although considerable delay has arisen from the wet wea-
ther, which has been much beyond the average of seasons.
The tunnels also are well advanced, and the whole is in a
satisfactory state.
Proceeding eastwards, the works are less advanced, some
portions of them are only now about to be commenced.
Between Saltash and Devonport no effort has been made
to expedite the works, as they will easily be finished before
the Saltash-bridge.
On the line from --Dora#4lo4aLthe 'unction with the
South Devon Station, some liditYwhich it was ireeiraiile
to expedite are in progress, and the whole may probably be
advantageously proceeded with, and brought into useful
operation.
The works upon the Saltash-bridge, now named by per-
mission of his Royal Highness, the Albert Bridge, consist
as yet, of course, principally of preparatory works, but by
no means of small importance.
I am happy to say that all the preparations made by the
contractor and his agent at present indicate every desire
and every ability to do substantial justice to the work, and
give every promise of a steady, and I trust, successful pro-
gress.
A jetty has been constructed for landing materials,
workshops have been erected, provided with the requisite
tools,A
considerable machinery,
quantity furnaces, and engines.
of
re-
ceived, and the piles are being driven for the platform, and
scaffolding for the construction and temporary erection of
the bridge. iron and stores have been
The piers on the Saltash side of the river have been
commenced, the foundation of the first having been laid
on the 4th July.
Four others have also been commenced, and are in va-
rious stages of completion.
In conclusion, I am happy to
directors and the proprietors upon the very satisfactory
state of proceedings towards the execution of the works
—I
generally of this railway. am, gentlemen, your obedient
servant, be able to congratulate the
I. BRUNEL.
. .