The Sun.
London, England, 1854-05-22 00:00:00

RAILWAY INTELLIGENCE.

OXFORD, WORCESTER, AND WOLVER-
HAMPTON.
A special meeting of this company was held on Fri-
day at the London Tavern, to consider two bills now be-
fore Parliament, in compliance with the standing orders
of the House of Lords ; Mr. J. Parson in the chair.
The CHAIRMAN explained that the first bill was to au-
thorise the construction of a small branch to Chipping
Norton, which was situated about 5 miles from their
main line, and 16 miles from Oxford. The popula-
tion of the district was about 6,882 persons, ac-
cording to the last census. Influential persons
among them had subscribed 10,0001. towards the con-
struction of the line, and Mr. Peto, M.P., had subscribed
14,0001., making the total 24,0001., for which sum
the line was to be completed. The Oxford, Worcester,
and Wolverhampton Company were to work the line for
50 per cent of the gross receipts, and to pay over to the
shareholders of the branch line one-third of the gross re-
ceipts of any increase of traffic which may arise to the
main line from the construction of the branch line, The
object of the arrangement, which was intended to form
part of a series of such arrangements, was for the pur-
pose of enabling third parties locally interested to con-
struct the requisite branch lines in the district of the main
line without calling upon the proprietors of the parent
line to subscribe any capital for the construction of branch
lines, and thus practically to close the capital account of
the main line when it was completed. A branch be-
tween Stourbridge and Dudley was now being projected
on the same principle, and would be submitted for
approval next session. The other bill he had to submit
was for the purpose of making certain alterations in the
line and levels of the Stratford-upon-Avon branch, by
which a saving of 30,000/. would be made on the original
estimate of 150,0001., and the time for completing the
works would be extended for a period of 3 years. The
time for completing the mixed gauge on the main line
would be extended by the bill until the 31st of Decem-
ber, 1855. Powers were also contained in the bill
authorising the issue of new shares, with power of redemp-
tion to pay them off at some future time; to form a
junction at the Wolverhampton station, and to establish
a provident institution for their men, the company al-
lowing 4 per cent. per annum on the deposits. The
great object they had in view was to obtain an extension
of time to complete the works, to raise the necessary
capital, and to accommodate the traffic. The receipts
would soon average 3.0001. a-week, which would enable
them to pay the interest on the borrowed money and
on the first preference shares, and on opening the
line from Tipton to Wolverhainptun, in June next
the traffic would gradually increase to 4,0001. per week
by the end of the year. He concluded by moving reso-
lutions approving the bills.
A discussion ensued, in which Mr. Thorp, Mr. Jessell,
Mr. Tomlyn, Mr. Malins, and other shareholders took
part, in respect to the proposed arrangement for working
the Chipping Norton branch, it being considered that 36
per cent, of the extra gross traffic receipts derived from
the branch line, which may be brought on the main line,
was too much to allow.

Eventually resolutions were passed approving the
bills and authoriiing the directors to make such altera-
tions in them as may be deemed expedient, and to re-
serve the right of purchasing the Chipping Norton
branch at par.
The proceedings concluded with a vote of thanks to
the directors.

REPORTS OF COMMITTEES ON RAILWAY
BILLS.
GREAT WESTERN (STRATFORD).
Lord STANLEY reported from the sub-committee that
the objects of the bill are merely to empower the Great
Western Railway Company to provide additional station
accommodation at Birmingham, Wolverhampton, and
Bushbury, and to make further provision with reference
to stopping up Brittle-street, in Birmingham.