The Sun.
London, England, 1853-12-20 00:00:00

BRITISH AMERICAN LAND COMPANY.

A meeting of this company took place yesterday, when
Mr. A. K. Barber was elected an auditor to fill the va. -
cancy occasioned by the death of Mr. J. Do wie. In
referring to the general prospects of the undertaking,
the governor (Mr. Gillespie) stated that the latest accounts
were of a most satisfactory nature. The facilities
opened with the districts in which their land was situated
by the construction of railways had already exercised a
beneficial influence on the value of the property. An
advance, made some few years ago to one of the lines,
with the view of providing means to carry on the works,
and the amount of which it had been thought would
never be recovered, had latterly been in great part re-
paid, with arrears of interest. The Grand Trunk of
Canada Railway, with its branches nor in active for-
mation, would also add greatly to their prosperity. The
reportsera ig-eigugar,ding the Progress of Sherbrooke were very
and the water power was such as to be
eneu
extensively available for manufacturing purposes. An
additional outlay to promote arrangements for estab-
li.hing a manufacturing community was recommended,
for the expend
th advantages of the locality were equal to those
msaecrkuerittyfor the timber on
at Lowell, or in any rnanufacturing district in
enjoyed tAhe
thetu r e
woUniteduld b
e States,un de
a portion of their prop'erty, which had not before been
considered valuable, had been found among persons who
in the lumber trade, which promised to be.
übwthedil.e
were engaged ln
come extended at remunerative prices. fact, from the
received, together with the per-
whole of the accounts
o hadipaid a visit
sonal inspection of their solicitor, wh .
e rectors were
to their Canadian establishments, th d
sound and rapidly
convinced that the company is in a
l de o 't
improving position. With respect to min er a p /31 s,
Mr. Cummins)
it was stated by the deputy-governor (
d th
that, under the preliminary agreement more
early part of the year with other persons fore
c in
carre
uryh-
ing out an investigation of their property, a o is
captain, with six miners, was despatched to effect
that object. After having been engaged some
time they returned, since, although indications of
gold were discovered, they were not regarded as suffi-
ciently rich to warrant their being worked. Specimens
of copper were, however, traced, which were considered
valuable, and the captain, before leaving the country, ,
scarcely satisfied with the search he had made, thought
it would be advisable to renew it in the spring. Subse-
quently a discovery had taken place about 40 miles from
Sherbrooke, not on the property of the company, but
in a lake connected with the river, the waters of which
passed through a portion of their land, and the gold
and quartz taken thence indicated, it was believed, the
presence of valuable deposits. Mr. Galt, finding that
the Cornish captain had left Montreal, secured specimens
and forwarded them to London, making at the same time
an arrangement with the discoverers for their interest
should the returns prove favourable. These specimens
had arrived, and competent persons had compared them
with the best produce of California, but the results of an
assay, proceeding under Messrs. Johnson and M tthe a y,
had not
_ . yet been received. Of the presence of mineral
deposits there could be no doubt, and, with the view
, of testing their value, further researches would take
I place. After some discussion the governor acknowledged
the testimonial in plate voted to him at the last meeting,
and Mr. M. Clark then gave notice of a motion to the
i effect that 250/. be appropriated to the purchase of plate
for presentation to the deputy-governor.

NAVAL OFFICERS ABROAD.—We are happy to an-
nounce that the hardship to which we have so repeatedly
called attention regarding the serious deductions made
from the pay of naval officers serving on foreign .sta-
tions, in discounting their bills, is about to be removed.
Arrangements will shortly be completed by Which offi-
cers will have the option of receiving their pay in cash
at par, or of having a bill, as heretofore, upon the Pay-
nuater-Geueral,—United Service Gazette.