The Sun.
London, England, 1853-07-14 00:00:00

WEST COAST OF AFRICA.

PLYMOUTH, WEDNESDAY.
The African Steam Navigation Company's mail-
packet Hope, Commander William Henry Bowen,
arrived this afternoon on her homeward voyage.
She left Fernando Po on the 31st of May ; Lagos,
on the 4th of June ; Cape Coast, the 7th • Sierra
Leone, the 15th ; Goree, the 19th ; Teneriffe, the
4th of July ; and Madeira on the 6th.
Her cargo consists of gold dust, palm oil, ivory,
camwood, gum, ground nuts, and seven bales of
cotton, being the first shipped from the old slave
station, Lagos.
Affairs have been very quiet at Cape Coast Castle
since the late Ashantee invasion.
On the 24th of May a convention was signed at
Bathurst by Governor O'Connor and the King arid
Chiefs of Corgo, by which the latter ceded a por-
tion of their territory, and the former removed
certain obnoxious stockades at Sabbaif.
The mail steam-packet Faith was off Sierra
Leone on the 12th of June, and the Forerunner
was off Teneriffe on the 3d of July ; at Fernando
Po were her Majesty's steam-sloop Polyphemus,
and the Peltona and Garrow, palm-oil ships.
At Old Calabar.—The Clifton, the Pytho, and
the Loodiana.

At New Calabar.--The Ambrosine, the Bell, and
Lord Elgin.
At Bonny.---The Abeona.
The Valleyfield and the Isabel were at Sierra
Leone.

•
The barque Carshalton, of Plymouth, Captain
Foster, when beating out on the 16th of May, tim-
ber laden, missed stays, and became a total wreck.
Crew saved.

At Gambia.--.The Governor Macdonald, the
African, the Orion, and the French barque Union.
Her Majesty's steam-vessel Firefly was preparing
about the 25th to leave Cape Verde, and the steam-
vessel Bloodhound was preparing on the 6th of
July to leave Madeira, both for England. The
Tay West India mail steamer left Madeira July
6th. Her Majesty's screw steam-ship Duke of Wel-
lington and three sailing frigates were observed by
the Hope in the Channel at ten o'clock this morn- •
ing, steering west.

HEREFORD, ROSS, AND GLOUCESTER RAILWAY—OPEN-
ING OF THE FIRST SECTION.—On Monday the first por-
tion of this railway, extending from its junction with
the South Wales line to Hopefield, six miles from Ross,
was opened for public traffic. This is the first railway
yet opened in the county of Hereford, and the event has
caused a good deal of rejoicing. In another month or
two, however, it is expected the Shrewsbury and Here-
ford Railway, now open from Shrewsbury to Ludlow,
will be ready for opening to Hereford. Other lines for
extending the railway accommodation in Herefordshire
are now before Parliament, and have bad their pre-
ambles proved.

SOUTH AUSTRALIAN COPPER MINIAVa

COMPANY.

The annual general meeting of this company was held
yesterday at their offices, 17, Gracechurch-street ; Mr.
Thompson in the chair.

The SECRETARY read the report of the Committee of
Management, which was given in The Sun of Monday
last.

The CHAIRMAN then read a letter from Mr. Phillcox,
one of the chief colonial directors, complaining to some
extent that that body found itself cramped by the limited
issue of scrip in the colonies. The chairman also stated
that Mr. Phillcox would very shortly arrive in this
country, and that the shareholders would then be sum-
moned to hear from him an account of the company's
property, and its present state and future prospects.
In answer to a Shareholder,
Tho CHAIRMAN stated that the colonial directors wells.
all gentlemen of the highest respectability and standing.
in the colony. The qualification for the office was the•
bolding of 100 shares, which he believed was th• case
with each of them. One thousand shares had been sent
out to the colony and deposited in the South Australian
Bank.

Captain GREEN inquired whether these 1,000 shares
were in addition to the 5,000 which it had been origi-
nally determined to set apart for the colonies ?

The CHAIRMAN said that, according .to the report, the
period seemed to have elapsed for the taking up of those
shares in the colonies. The managing committee had.
determined not to send them out, as they were convinced.
of the shares of the company going up to a premium
(Hear, hear.)
A long irregular conversation followed, which resulted
in a general expression of opinion to the effect that the
company were released from all obligation to send scrip
to the colony except at the market price.
Mr. PALGRAVE then moved, and Mr. PRITCHARD
seconded, the adoption of the report, which was carried
unanimously.
On the motion of Mr. KonATTA, seconded by Mr..
BISGOOD, the report of the auditors was approved and.
adopted.

Mr.
MOCATTA inquired if any private reports had
come to the ears of the managing committee relative to
the state of the company's property in the colony ,and
the high estimation in which the mine was held by the
colonists.

The CHAIRMAN said that such reports had certainly
reached him, but, not being official intelligence, he
should not have alluded to them had it not been that
the question had been put by the hon. shareholder. He
had no objection to state that one of the managing com-
mittee, Mr. Webb, had lately accidentally met a gentle-
man who had just returned from the colony, who, on
the conversations turning on the various mines of the
company, gave a most glowing account of the mines be-
longing to the company, describing them as being
scarcely considered second to the Burra-Burra mine.
He also stated that it was the wonderment of all the
people there why the English company had not gone on
working it with proper vigour. He also (the chairman)
had met a colonist who gave the same description of it,
and, from all accounts, they had reason to believe
that the property was a most valuable one—(hear, hear)
—and if it were carried out with vigour and economy,
there was no doubt that before long the shares would be
atla very high premium. (Hear.)
A SHAREHOLDER observed that, if it had not been for
a former mismanagement, he had no doubt that would
have been the case at the present moment.
Mr. DUPPA defended the former management, express-
ing his opinion that the outlay and expenditure had been
aa economical as was possible.
Mr. PALGEAVE then moved that the sum of 2001. be
be paid to the managing committee for their services.
Mr. lavaTa seconded the motion, which was agreod
to unanimously.
Some discussion then took place as to the remuneration
to be paid to Mr. Armitage, for his services as purser of
the company, but ultimately, on the motion of Mr. WEBB,
the subject was referred to a committee of three, consist-
ing of two auditors and a shareholder, Mr. Biegood,
with directions to report on it to the next general
meeting.

On the motion of Mr. IRVING, seconded by Mr. PAL-
GRAVE, the sum of 20 guineas was voted to the auditors
for their services.

A SHAREHOLDER inquired what were the intentions
of the managing committee with regard to declaring a.
bonus.

The CHAIRMAN said the inommittee originally intended
to advise the shareholders to divide a bonus of 2,6001.,
but after giving to the subject the most mature and
grave consideration, they had come to the full determi-
nation that it would be better for the ultimate interests
of the company to hold it over for a little while longer,
at least until the arrival from the colony of Mr. Phill-
- and until after they had heard his report of the
actual working of the mine. -By so doing they would
be able to retain in their hands the means of working
the mine with vigour, without the necessity or prospect
of being driven into the market to sell the reserved scrip
for the purpose of raising capital.
Some discussion followed, the general expression of
opinion appearing to be, though favourable to the division
of a bonus, of a confidence in the managing committee,
and of a ;desire to be guided by their determination.
Ultimately the consideration of the subject was deferred
until the next meeting of the shareholders, which it vale
understood would be called on the arrival of Mr. Phill;
cox, in order to give the shareholders an opportunity of
hearing his report. The meeting then became special,
when various alterations were made in the cost boor'
for the purpose, among others, of giving rovre: tbe
committee to grant leave to search for gold on the pro'
perty of the company.
The proceedings then terminated with the usual vote
of thanks to the chairman.

I

I