The Sun.
London, England, 1853-09-15 00:00:00

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SUN OFFICE, Six o'Clock.

DONCASTER RACES,

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)
10 SOVS. SWEEPSTAKES—TWO-YEAR-OLDS.
Acr0bat.........................................................
D0min0..........................................................

Seven ran.
CLEVELAND HANDICAP.

Catherine Parr
Lady Agnes

1

J

Nine ran.
10 SOVS. HANDICAP.

Vixen
Sister to Marcy ~

EGLINTON STAKES.

Orestes
The Reiver

Seven ran. Won cleverly.

SOUTH-EASTERN RAILWAY.

The thirty-fourth half-yearly general meeting of this
company was held at the Bridgehouse Hotel, London-
bridge, this afternoon ; Mr. J. Macgregor, M.P., in the
chair.

The report, which has already appeared in The Sun,
was taken as read.

The CHAIRMAN, in moving the adoption of the report,
said the total receipts for the half-year was 382,9261.,
but the sum !of 274,7721. had to be deducted from
the gross earnings for rates taxes, &c., and for
the payment of interest on mortgage debt. (Hear.)
The amount available for a dividend was 100,2391.,
being 6,4591. more than in the corresponding months of
last half-year ; and the directors now proposed the pay-
ment of a dividend at the rate of Bs. per share. The
increrse in the traffic in the last half-year showed an ex-
of 36,2731. over that of 1852. The chairman then
commented upon the different items of the ac-
counts,ses and said that though the expenses
of the company had increased, they had
They
ixapd all
been legitimately and necessarily incurred.
had derived a profit of 1,9061. from thsei electric tele-
graph, but under this head there was an outlay of
1,3501., but there could be no doubt as to the advantage
of extending telegi aphic communication on their
lines, and he might mention that a system
for the joint signalling of trains was about
to be established. If any saving could be effected in
the outlay of the company it must be in the miscellane-
ous expenses, but he bad come to the conclusion, taking
into account the number of stations and the work done,
that it was not in the power of the directors or any
board of managers, to diminish the present amount of
those expenses. He, however, thought that the
sources of the companys traffic was inexhaustible,
and that the proprietors would ultimately receive
a much better dividend. (Hear, hear.) A line was
now opened from Paris to Bordeaux, a distance of
365 miles, and this was to them an important event, be-
cause it opened up a country which was connected with
this company by means of the Continental railways.
The railway communication to Marseilles would shortly
be completed, and would affect the traffic on the South-
Eastern line to an important extent, and he believed,
from the good spirit hitherto evinced by the French Go•
vernment, that arrangements would be made so
as to secure travellers for the East and Malta
against the annoyance of Customs' regulations,
with regard to the inspection of luggage. (Hear, hear.)
The arrangements already sanctioned by the English au-
thorities for deferring the searching of passenger's bag-
gage until it arrived at London-bridge, had been
rendered entirely nugatory by the Dover porters,
who had local privileges which they distinguished
themselves by making a bar to the proposed 'Arrange-
ments, but he had just been informed that these
individuals had, at last, come to a proper sense of
what was due to the public, they having agreed
to accept the terms offered to them, viz., threepence for
every baggage, large and small, landed at the Dover
station. He was happy now to congratulate the public
that they would no longer be subject to the caprice and
extortion of the Dover porters. (Cheers.)
Mr. RENSHAW, deputy chairman, seconded the motion.
Mr. S. HAMILTON proceeded to read a document of
considerable length, attacking the general policy of the
directors, which he said had had the effect of greatly de-
preciating the shares of the company. He was listened
to with great impatience by the meeting, and interrupted
by frequent calls to order, to which, however, he paid
no attention.

Mr. G. SMITH condemned the conduct of Mr. Hamil-
ton in coming systematically before these meetings to
injure their common property by statements which had
no foundation. (Cheers.) Mr. Hamilton had surrep-
titiously come to him (Mr. Smith) and endeavoured to
enveigle him into supporting a resolution derogatory
to the chairman and directors of the company.
After some noisy discussion,
The CHAIRMAN denied, with indignation, an accusa-
tion made by Mr. Smith, that he had suffered a train to
run on the North Kent line at an unusually late
hour for his individual accommodation. The
same gentleman had complained of the depreci-
ation of this and other railway property, but it
was gratifying to know that henceforth railway
legislation was to take place on a more comprehensive
and certain basis. A committee of the House of Com -
mons was to be appointed to determine the principles
on which railway extension should be carried out, and
this plan, for which they were indebted to the President
of the Board of Trade, also possessed another feature
which savoured much of justice, and would greatly tend
to diminish the expenses of railways. All persons who
interfered with the ordinary course of business
of railways without sufficient cause would have
to pay the expenses of both parties. (Hear, hear.)
The assertion that the affairs of the company had been
affected by the introduction of employes into the meet
ing, was to absurd to require a reply ; but he might
state that the only servant of the company he saw pre-
sent, was the secretary, who was a shareholder of his
own accord, and who was required to attend in the dis-
charge of his duties. He regretted that the result of
the half-year was not not more favourable, but he looked '
confidently forward to a much more satisfactory state of
things, for he be believed that the expenses were not
likely to be much exceeded, while he considered, as he
he had already intimated, that the traffic of the South-
Eastern was inexhaustible. (Hear, hear.)
Mr. J. WILSON also attacked the proceedings of the
board, and said his great complaint was that every
thing connected with the company was subject to the
single controul of the chairman, who was virtually the
director of the directors. (Cheers.)
Mr. RENSHAW, a director, said he had denied that
statement at a former meeting, when the hon. member
expressed himself satisfied with his explanation.
Mr. J. WILSON—Has ever a single proposition brought
forward by him not received the sanction of his col-
leagues ?

Mr. RENSHAW—Certainly. (Cheers.)
The CHAIRMAN—I give a flat denial to the statement
which Mr. Josiah Wilson has dared to make. (Cheers.)
During the nine years I have been a director of this
company, I have received the support of large bodies of
shareholders assembled in this room, who have ex-
pressed entire confidence in my integrity and my devo-
tion to their general interests, and I defy any man to
bring forward a single fact which shall invalidate what
I now state. It is most lamentable that the concerns
of this great company should be interfered with by
shareholders referring to matters which are past and
settled, and which cannot now be altered. (Cheers.)
Mr. J. WILSON moved an amendment to the effect
that the report should be received wirh the exception
of the report of the auditors, which he proposed should
be considered separately.
Mr. GRAY said he did not participate in the gloomy
forebodings
only unite together of Mr.e Wilson. If the shareholders would
go on
prosperousrl harmoniously, the company would
Smith to abstain, faouyr.cpe(Hfuetaurr.e)
frome
personalappeal e d
allusions t o lr .
Mr. MORGAlTaffairs totr, declared, from his acquaint-
ance with the
cause whatever for thetheompany' that there was no
the market. He believedth shares
going down in value in
t ,andat the company
duri
pay less than at presentwould never
half-year the receipts would yield a dividend of from
lls, to 12s. (Hear, hear.)
The
ti
mendm
theent and the resolution were then put to
the meeting, and resolution waseaarrshieadrby an over-
whelming majority.
The payment of a dividend of Bs.
dance with the recommendation of the report, in accor-
dance was next
agreed to.
The CHAIRMAN then proposed a resolution giving
powers to the directors to raise a sum not exceeding
500,0001., under the powers of the Whitstable and Can.
terbury Steam Packet Company's Purchase Bills, which,
after some angry discussion, was agreed to.
A further resolution was passed,, authorizing the rail-
way 40,0001. for the formation of a junction with the
Reading and Reigate Railway, and the Great Western.
Mr. C. Whetham was then proposed as a 3rd au-
ditor of the company, but an amendment was moved
that the election of an additional auditor should be
postponed until the next half-yearly meeting, and
oarried.
The meeting was then made special, and resolutions
were passed authorising the purchase of the Canterbury
and Whitstable Railway, and the steam-boats.
The proceedings terminated with a vote of thanks to
the chairman.