The Sun.
London, England, 1854-02-16 00:00:00

.-• . .
)
. i
•
_ . .
•„, , •
VICTORIA DOCK
-..--t..
''i.l?*4 • ''' tri:l>*, (t: 41l
/ I 4 - ---•
---.
. 1
11111111111 t
,
c 4 7i. <',
iiisilLti
1 s ,
V. ~,It - . ...
, :;...4,
~ •
-••• • • !;,•-:••
~ - '••,-• 4.-'". s- ,"4•Art"44t f:. : . ttm .., ~, ‘ -44 -s''"-.l'
4,4 4E' 0
...., • r.
.. --Vrr? '''.• , - ' '
, '7,,,,.,;,‘,,,-,,,n-L.,,, 1 --- 7.'- ' -'-' •' 0. ..,... -y A , 4), - ' 00, ,•:1 . * .ke* .-,..1(A1".'7,' '
.4.„ :.,,, , ,Iff,t_.,4 ..„:„,zalroir.„N'lLl:- --,':4--;:.:
~, ~ '',......4w - ,
~,,,••.:14 *
~..4, • . ~,,
„ , 0
~ i ki •
, .
tie7:--3,1;47,417z. /7,:.:,, ..tr,:„. fr,-.......„2,04,„,31(.,5%,,,,,..,,.,.,_ ,
_,l ' --j ~, ,- )v; •; •'' ..711Cr ' .
...i...e-i4....ffli.:Zik?"4:, .iir ' ply 1-1 +.• '''Zir - , ii,r,,, ', ,01,1 T."' 40 '474X .!:-...:44 ''' It 01T , '
- / ` W ; )I'lW '''
___----

[PRICE SD.

flounced have given a fresh impetus to the military spirit
evoked generally at this side of the Channel by the pros-
pect of actual hostilities with the Russian aggressor.
Dublin is just now the theatre of an "excitement" of a
widely different character from that which for over 20
years had divided the popular mind. The recruiting ser-
geant is at present the hero of the day, and the " repeal
button" and all the other insignia of the old agitations, if
again reproduced on the stage, would utterly fail to attract
the same amount of devotion which is freely paid to
the fluttering ribands of the Queen's forces. Depots are
opened in all quarters of the town, and the number of
young men who have offered for enlistment within the
last 48 hours almost exceed credibility. Of course all of
these do not hear the test of a medical examination,
some being of too tender an age to bear arms, and more
are rejected by reason of bodily infirmity, but upon the
whole there can be no reason to doubt that Dublin will
contribute its full complement towards the required in-
crease of the army. The Royal Artillery depot is at the
south side of the city, and, although this branch of the
service demands a superior class of recruits, there is no
lack of aspirants, between 50 and 60 stout and intelligent
young men, apparently artisans, having offered in the
course of a single day. All the infantry regiments in
the garrison continue to be equally successful.
The Kilkenny Moderator states that recruiting is
being actively carried on by the 46th Regiment in that
garrison, ana that a large number of promising young
had been readily procured. The same p►per states that
the demi-battery of artillery in Kilkenny expect imme-
diate orders to proceed to the seat of war. The 33d
(the Duke of Wellington's), whose head-quarters have
been Athlone, is at present being concentrated at
Templemore, for the purpose of forming the depot com-
panies, the corps being one of those intended for the as-
sistance of Turkey. The 33d is to be replaced by the
depots of the 2d and 55th from Templemore. The ac-
counts from Cork this morning announce that her Ma-
jesty's steamer Cyclops has arrived in Queenstown, and
taken on board draughts of the Royals, 31st, 48th, and
57th Regiments ; the entire under command of Lieu-
tenant Stuart (Royals), to join their respective com-
panies in the Mediterranean. The Cyclops has on board
100 of the Royal Artillery, which are to be landed at
Gibraltar. She then proceeds to Malta, where the
draughts are to be landed ; from there she proceeds to
the Black Sea, having on board a number of naval
officers, engineers, &c., and a quantity of Government
stores for the use of the navy there stationed.

NAVAL INTELLIGENCE.

//Z

COMPANY.

The half-yearly meeting of this company was held
yesterday at the London Tavern, Bishopsgate-street.
Charles Morrison, Esq., took the chair. The report
was as follows : —•
" The board submit the annexed report from the engineer,
showing the progress which has been made with the works
since the last meeting, together with the accounts for the
last half-year, and the auditors' report thereon.
" The whole of the land intended to be taken by the
company has been purchased, with the exception of a very
small quantity. Almost the whole of the 200 acres, which
are to be provided by the contractors, and much the greater
part of the additional land, have been paid for and con-
dertaking, so far as
vey,,errdhtoe
etehme
pcostimy,peanuyn.
arrangements
have been made for carrying it out at present, consists of :
The original contract including purchase of 200
acres of land, payment of interest to share-
holders, and miscellaneous expenses £425,000
Additional contract approved of by the general
meeting in August last
Purchase of upwards of 400 acres of additional
land, the exact amount not ascertained, but
puensthimassetd n
oef
thoet
steel-
eaerdd . .

106,545

,
100,000
72,800

2704,045
" The board do not propose that the company should
undertake any important works or purchases beyond these
during the present year; so that the above stated sum of
704,015/. represents the total amount of the company's ex-
penditure and engagements' with the exception of any sub-
sidiary works, which may be found desirable for increasing
the efficiency of the dock, and other incidental expenses.
" Their reasons for recommending this course ars the

following :--
" As the act authorising the enlargement of the cm.
pany's capital and undertaking gives seven years from the
4th of August, 1853, for the completion of the works, the
time which will remain after the end of tie present year
will be much more than sufficient for the execution of all
the additional works which may hereafter be decided on.
" The dock, warehouses, and land provided by the two
contracts with Messrs. ?et°, Betts, and Brassey, will,
from their extent, and the variety of accommodation which
they will comprise, be sufficient for the transaction of a
very large business, such as would give a good return upon
the whole of the outlay to which the company is at present
engaged. They will consist of a half-tide basin of 16 scree,
an inner dock of 74 acres, more than 11 acres of ware-
house floor, jetties affording 6.000 feet of quay frontage,
in addition to the sides of the dock, and 110 acres of land.
As the increase of business must be gradual, it may be an-
ticipated that additional dock accommodation beyond that
already contracted for will not be required during the first
two or three years after the opening of the dock. And
experience will enable the company to determine the par-
ticular forms in which such additional accommodation
ought to be hereafter provided, so as to produce the
greatest amount of banefit to the commerce of the port of
Landon, and the largest eventual return upon the com-
p ny's expenditure.
"The large extent of land (upwards of 4(Y) acres) owned
by the company, in addition to the 209 acres which form
the site of the dock and other works now in progress, will
give the company the means of providing all the a‘ commo-
dation of the kind usually supplied by docks, which the
itrade of London may eventually be found to require, and
will enable it to afford to the different trades, who may be
expected to resort to the Victoria Docks, such other ac.
commodation, as may be suited to the requirements of
each. The company will have the means of supplying
warehouses, yards, dry-docks, tiinber-pords, or any other
premises and conveniences, which may be adapted to par-
ticular branches of trade. Looking to the extent and
vaiety of the business, the accommodation of which falls
within the company's province, and the comprehensive,
and in some respects, novel character of its plan, it appears
to the board, that great eventual advantage is likely to
arise to the company from such delay in the further ex-
tension of the works, as will enable them to take advan-
tage of the overtures which may be made to them by
parties seeking special accommodation, or of the sugges-
tions which experience may furnish.
" The considerable rise which has taken place in mate-
rials and labour, since the conclusion of the original con-
tract, renders the present time unfavourable for com-
mencing or contracting for new works.
" The unsettled state of foreign politics and of the money
market would, in themselves, have rendered a pause de-
sirable before undertaking any large additional engage-
ments ; and it is, therefore, a great cause of satisfaction to
the board that tho course, which is recommended by con-
siderations of financial prudence, is also that which is in
itself the most advantageous.
" These reasons for abstinence from further extension
during the present year apply to the construction of new
warehouses on the Steel-yard ; and the board have accord-
ingly resolved not to make any contract for them during
the present year. It will be remembered that these ware-
houses formed no part of the original plan of the company,
and they are therefore not indispensable to its success, al-
though the board continue to believe that they will be
found very valuable in giving to the company's business
the eventual extension of which it is capable. The Steel-
yard, in its present state, will be available for receiving
and despatching goods intended for shipment on vessels in
the dock.
"It will be seen from the annexed accounts that the
amount paid by shareholders in anticipation of calls amounts
to 53,8961. upon the old shares, and '28,706/. upon the new.
The option of paying up in advance either the whole or
any part of the sum remaining uncalled upon the shares,
and receiving 5 per cent. upon the amo,,nt so paid, re-
mains open to such holders of either the old or new shares,
as may be disposed to avail themselves of it.
" A resolution will be proposed to the meeting, autho-
rising the board of directors to borrow 133,0001., either on
debentures, or on mortgage, on such terms as they may
think advisable, in conformity with the act of Parliament.
The grant of this auth rity is necessary for facilitating the
company's financial arrangements.
"The balance-sheet showed that the amount received
was 317,609/. 10s. 7a., and the sum expended, 308,2601.
17s. 10(1., leaving a balance of 9,3481. 12s. 9cl"
The CHAIRMAN said, it could not be expected that the
board of management would have much tlutit was new to
communicate on the present occasion. The contractors
were going on well with the works, and the shareholders
were prompt in the payment of their calls. The report
of the directors recommended them not to undertake
any fresh works during the present year, which he
thou ;lit was desirable from the present state of the
money market, and the state of our foreign relations.
This delay would be advantageous beyond a mere finan-
cial consideration, for it would give them time to look
round and see the nature of the works likely to be re-
quired. The amount of accommodation now proposed
was, he thought, quite ample fer any business that might
:wise for the first three years. They had an area of 9.0
acres of water, having a basin of ab iut three-quarters of
a mile in length, and the fifth of a mile in width. This
would accommodate a larga fleet of vessels, and if they
Dull.] only get that filled, they might rely on a satisfac-
tory dividend on the whole of their capital. (Hear,
hear.) To obtain this trade would require some time. ;
they might, therefore, well postpone any further under-
takings till that was realised. The proprietors would
see that the directors now sought the power to borrow
additional capital to the extent of 133,0001., which was
allowed to be done by their act of Parliament.
Mr. WiLLfamsoN said he thought the report was very
satisfactory, and he had no doubt that when the docks
were opened, they would realise much beyond the 5 per
cent. now guaranteed on the calls.
A PROPRIETOR asked if it were intended to form dry
docks in connection with this company, as was done in
Liverpool ; otherwise vessels would go out to that port
in preference.
The CHAIRMAN said the sebject had been considered
by the board, and they would be prepared to take mea-
sures for that purpose on a suitable opportunity.
A PROPRIETOR asked if any loss was likely to arise
to the company from the rise in the price of labour and
materials.
Tao CHAIRMAN said the contractors would undertake
to complete the dock for a fixed sum. Their only incon-
venienc,, might arise from a delay in opening the dock.
A pßopmeyoa inquired if they had any fear of injury
from the propose:l Wellingt.in Docks ?
The CHAIRMAN coasidered the injury, if any, would
be done to the St. Katil.arine's Docks, beii.g so near that
locality.
The report was adopted, and the directors were em-
powered to raise, when required, the 133,0007. sane
tinned by the act of Parliament.
The meeting then adjourned.

VIE EASTERN" SMPANYTE 4M NAVIGATION
CO.

The meeting of the shareholders of this company Was
held yesterday. H. T. Hope, Esq., took the chair.
The report was as follows :
" The report presented to the proprietors at, their last
meeting, held ou the 6th of August, 1813, stated that your
directors hail invited tenders from several parties, and had
made provisional arrangements for the construction of their
first vessel and engines, and had also made a call of 2/. per
share, in order to comply with the terms of the charter of
incorporation, which requires that 120,0301. of the capital
should be paid up before any contracts were entered into.
been
provisionalefoqrsaitl
leyarmac
ratified upon
contracts
oca
whichpsai ttai
sl
fhhaacats
been
paid up, and that
" Your directors have now the satisfaction to .ceport that
tutteeee
eyetneremnste,reanddialttehuadgh
some unavoidable delay has been occasioned by the cala-
mitous fire which took place en the builder's premises, no
pecuniary loss has been sustained by the company. The
contracts specify that this vessel shall be ready for launch-
ing within 18 month,,; au eligible site for the building of
the ship has be ,n obtained at Millwall, and active steps
have already been taken by the contractors towards carry-
ing out their respective contracts, on account of which a
first instalment of 48,6861. 13s. 4d. has been paid to them.
" Iu your directors' last report, they explained so fully
and in detail the grounds on which they felt the fullest con-
fidence both in the efficiency and profitable employment of
large vessels carrying their coal for the entire voyage," in
comparison with ves,el, of small power and capacity, that
additional observation appears unnecessary in this place,
further than to assure the shareholders that every day's ex-
perience tends to strengthen and confirm, in the opinion of
scientific and practical men, the soundness of the calcula-
tions on which their plans have been based.
"At this meeting, your auditors, W. W. Carg EN..
th the
and J. E. Coleman, Esq., retire, in conformity
terms of the deed of settlement. but being eligible for re-
election, offer themselves accordingly.
" In conclusion, your directors have to report;, that in-
terest warrants, at the rate of four per cent. per 1 Inilum on
calls paid up to the 31st December last, have bee n
duli
y
and that the accounts of the company have be
hereunto
en
audited. The balance-sheet for the past year is
annexed.
i rTeh ef followingrom the l
oirsmaasttilomnmoafrythof e tchoomr
raeniyPtainaliJdanexupaeryn,
1851, to the 31st December, 1853, viz. _ _
Total amount received .......................... 15 3
EXPENDED.
For preliminary expenses, char-
ter of incorporation, Parlia-
mentary, law, and other
4 54,891 19 8
Paidcharges,
to
co no
tifir accet oe rxsP .. eases,... ... 6
4 13

Leaving a balance in hand, Dec. 31, 1853, of £67,772 15 7
The CHAIRMAN having alluded to the advantage of
adopting the large class of vessels riow constructing over
small vessels, and the prospects of success likely to attend
them, moved the adoption of the report.
ehagignnoesnenanaddopdtierdec,
taorvao,teatodf
thetha raqilneetw. as
p The
od report
toth
as ing
adjourned.