The Sun.
London, England, 1853-09-17 00:00:00

PACKET COMPANY,

The half-yearly general meeting of shareholders was
held yesterday at the Bridge-house Hotel, London-
bridge ; Mr. J. Macgregor, M.P., in the chair.
The CHAIRMAN submitted the following report to the
assembled proprietors :—" The accounts of the South-
Eastern and Continental Steam Packet Company now
submitted to the proprietors show the gross earnings of
the half-year ending on the 31st of July to be 20,4081.
lls. 6d. The comparison of passengers conveyed is as
follows :—Half-year ending July 31, 1853, Folkestone
to Boulogne, 14,202 ; 1852, 12,508, increase, 1,694;
Boulogne to Folkestone, 1853, 13,173 ; 1852, 11,912,
increase, 1,261 ; total in half-year of 1853, 27,375 ; in
half-year of 1852, 24,420 ; total increase, 2,955. From
Dover to Calais half-year ending July 31, 1853, 5,305 ;
1852, 2,859 ; increase, 2,446. From Calais to Dover
in half-year ending July 31, 1853, 5,795 ; 1852, 2,004 ;
increase, 3,791 ; total increase in half year ending
July 31, 1853, 11,100 ' in 1852, 4,863 ; increase in
half-year of 1853, 6,237 ; showing a total increase in
the half-year of the number of passengers conveyed
of 9,192 passengers. The working expenses have been
6,5941. 55. 3d. ; the cost cf repairs and renewals,
4,9771.95. ld. ; the harbour dues, 1,720/. Bs. ; and 2,2241.
13s. 4d. has been paid for insurance, leaving a balance of
profit on the half-year of 4,965/. 15s. 10d. This sum,
with the balance brought from the previous half-year's
account, 1,1361. 2s. 2d., places 6,1011. 18s. at the dispo-
sal of the proprietors, which would allow of a dividend
at the rate of 5 per cept. per annum, free of income tax,
and leave a balance of 3,2401. 6s. The directors, how-
ever, strongly urge upon the proprietors the expediency
of adopting the recommendations contained in the re-
port of the directors, presented at the last general meet-
ing of this company, held on the 18th of March, and
which were approved 'at the special meeting of this com-
pany, held on the 21st of June, and which were yester-
day adopted at the special general meeting of proprietors
of the South-Eastern Railway, viz., That the sum of
99,4061., being the valuation made on the 6th Decem-
ber, 1852, by the surveyors appointed by the committee
of Lloyds,' of the eight steam-ships belonging to the
South-Eastern and Continental Steam-packet Company,
viz., the Princess Mary, Princess Maude, Queen of the
Belgians, Queen of the French, Prince Ernest, Princess
Clementina, Princess Helena, and Lord Warden, be the
price at which the steam-ships and other property in-
cluded in the report and valuation be taken over from
the South-Eastern and Continental Steam Packet Com-
pany; that, to facilitate the settlement between the two
companies, the working of the steam-ships from the Ist
August, 1852, to the 31st January, 1853, shall be consi-
dered to be on account of the Steam Packet Company ;
and that the sum of 99,4061., and the amount of the
valuation of the plant and stores on shore on the 31st
January, 1853, shall bear interest at the rate of 4 per
cent., from the Ist February, 1853, until the 4th day of
November next. That the proprietors of the Steam
Packet Company shall, on the 4th day of November next,
have the option of being paid in cash, or receiving in lieu
thereof a debenture of the South-Eastern Railway Com-
panyfit) veer year cents
tnht ee r Steamest l:er-
Packet proprietors shall have the option either of re-
ceivingamount thereof to be converted into ordinary shares or
exchanged for the ordinary stock of the South-Eastern
an n u ma't
apfi nav dye m thate n t years'
at the
atht bnde dea br e fnn
gtt uh4rele. , or of requiring the
Railway Company at par, of which requirement three
months' notice in writing shall be given, expiring prior
to or at the termination of the five years.' If the pro-
prietors are pleased to adopt this report, the directors
will propose resolutions in conformity, and also for the
pn
ua ymmfeonr t t ho fe
ah dividendalf eae
ending
itnhge
trhaet33losft 50
fper u cent.ly last. per
Thean
balance of profit to the 31st of January last, undisposed
-
of, amounted to 1,1361. 2s. 2d. If to this be added in-
terest at 41. per cent. on 99,406/., the value of the ships,
and 7,3231. 3s. 7d., the valuation of stores and plant on
the 31st of January to the 31st of July, the dividend,
at the rate of 5 per cent. per annum, free of income tax,
may be paid, and a balance would remain of 427/. 175.,
and on the settlement between the two companies, on
the 4th of November next, further interest at the rate of
5 per cent, per annum, from the Ist of August to that
date, which will include the 4 per cent, from the railway
company payable to the proprietors of this company.
The settlement on the terms proposed will enable the
proprietors to receive in cash or in the bonds of the
South-Eastern Company somewhat above 121. each
share in the South-Eastern Continental Steam-Packet
Company.

Having made the foregoing report, the CHAIRMAN
proceeded to observe that the subject-matter which the
report involved had been brought very fully before the
proprietors on the two former occasions to which allu-
sion had been made, and he did not think it was neces-
sary for him to add anything to the recommendations
contained in the report of the directors. The directors
had been able to carry through the operations of the two
companies, as they had hitherto existed, in consequence
of the great confidence put in them by the proprietors
on either side, inasmuch as almost every transaction,
almost without exception, that took place between the
companies, required some arbitrement by the directors
in dividing the profits that had been earned between the
two companies. He was proud to say that up to that
moment they felt that almost unanimous confidence was
placed in them, and he begged to move that the report
of the directors should be adopted and circulated amongst
the proprietors in the usual manner.
The motion was seconded, and passed unanimously.
A dividend of ss. a share, or 5/. per cent. per annum,
free of income tax, was declared.
Resolutions were unanimously adopted to carry into
effect the various recommendations in the report. A
resolution was also passed authorising the directors to
do all such things from time to time as they should deem
fit, to give effect to such resolutions.—The meeting then
adjourned. j

THE TEN PER CENT. MOVEMENT AT
MANCHESTER.

The movement for an advance of wages among the
operatives at Manchester and the surrounding districts
goes on with unabated vigour. No matter what are the
relative prices paid by masters at present as compared
with others, the cry is still "ten per cent." Messrs.
Christie, of Fairfield, pay the highest wages in the
neighbourhood, but their hands raise the cry of " ten
per cent.," and like the other turnouts, repeat it with
a pertinacity akin to fanaticism. ThB weavers of do-
mestics on strike had a procession through Manchester
on Thursday, beaded by a band of music, and carrying
banners inscribed " 1,500 " (the number on strike), and
" ten per cent. and no surrendar." A. large proportion
of them were young women. A meeting of them was
held at the Carpenters'-hall the same evening, when the
secret of the unreasoning character of their proceedings
was readily discernible in that of their orators. These
were chiefly men who have been leaders of socialist,
chartist, "freedom to industry," and other movements
in past times, and who are clever at uttering fluent non-
sense, though they have never yet shown themselves
clever enough to conduct any one movement to a
successful issue. A resolution was moved and adopted
to the effect that, considering the present state of
prosperity, the operatives were justified in striking
for a 10 per cent. advance, and pledging all pre-
sent to join the Weavers' Trade Union now forming.
Amongst the strange doctrines uttered by the speakers
on this occasion, a man named Cooper told them if they
persevered " employers" would become an obsolete term,
since operatives would become their own employers. A
man named Matthews commented on the speech of Mr.
Wilson Patten, at a late agricultural meeting, and said
that masters having displaced all the labour they could
by machinery as applied to manufactures, were now go-
ing to try the same course with agriculture. One
speaker told them that the masters could well afford
to give this advance, but afford it or not they must give
it, and charge the extra price on their customers. Some
of the speakers complained of want of support, and it
appeared that the subscriptions of last week only reached
tenpence per head for the people on strike. At a meet-
ing of employers held a few days since, it was resolved
to send a deputation to Christie 's mill to point out to
the operatives the obstacles in the way of compliance
with their demands, and it was explained to the meeting
that this firm were already paying very high wages.
They had, until recently, employed their hands 65 hours
per week, and had taken off five hours without lowering
their wages, leaving them in a very advantageous posi-
tion. It was stated that the dispute about wages, how-
ever, only applied to a small number of Messrs. Christie's
workpeople--the strippers and grinders. The places of
these men could have been readily supplied by other
hands, glad to accept the same wages, but the great
bulk of the hands in other branches stepped in between
them and their employers, and said they would only
work on condition that the old strippers and grinders
were employed. On Wednesday the deputation of mas-
ters went to Fairfield, and had an interview with a depu-
tation of the operatives, who introduced a delegate also
from Stockport. The interview was productive of happy
consequences. The strippers, after a long argument,
abandoned their position, but the grinders, it was found,
had a more substantial ground of complaint, having
hou a
con-
tinued to do the same quantity of work in 60
twhichthat
somet hey formerlyassistance.
shoulds. The hgle.
enut thaeti m o,n
hsyu gwgaeys t hours
mwiiltlhsouhtavinecrease
lighteningo fm esrtheirchr s
tis labour,ha nadnsdhtahvee result
agreed, s
witht. h a
thisthe whole
of Messrs. Christie's hands have agreed, with this modi-
given
t
of
wages.o of theirh
e h a
ndispute,ds at
to resumeseveral
owork,the
nlEesxschtahnegheantdhsatthtehree
nisioetiscsers.otiraieystr,ikweh,
oinhcaluddainlrgeald)yarrtenoefivtedhe
asnpiandnvearTsioae.
A rumour wrarses
masters at
master
entering up the claim of 10 per cent. now urged, they would
close all their mills for three months—each
intoennthiaodnedagorenedt,hue
entering into a bond for 5,0001. not to resume business
without leave from the others.

MR. SMITH O'ButEN.7—The Corp Constitution says : I
—" A gentleman at present in this city, lately returned
from Hobart Town, states that he had had an interview
with Smith O'Brien, at Norfolk Island, where lie found
him enjoying excellent health. He was living in an
hotel, where he was supplied with every comfort and
luxury he could desire. He had none of the appearance
of a convict ; he dressed in a similar style to which he
did in this country. The Government allowed him a
circuit of 10 ten miles for exercise, and he had only to
report himself once a month to the police authorities.
The gentleman referred to was two evenings in company
with Smith O'Brien, and during both interviews O'Brien
avoided all reference to politics, or any subject relating
thereto."
SINGULAR PRENOMENON.—A writer in the Intelli-
gencer communicates a curious incident. A little girl
was standing at a window, before which was a young
maple tree. After a brilliant flash of lightning, a corn-
' plete image ofithe tree was found imprinted on her body.
This is not the first instance of the kind.—Newark Ad-
vertiser.