The Sun.
London, England, 1849-12-28 00:00:00

AL4O.
lattton

SUN OFFICE, Seven o' Clock.

SOUTH AUSTRALIAN COMPANY.

(THIS DAY.)
A general meeting of this company was held this
afternoon, at their offices, New Broad-street, City, J.
Rudd,ll Todd, Esq., Chairman, presiding.
Mr. DAVID M`LeitEsi, the manager, read a supple-
mentary report of the society's operations from Oct. 31,
1848, to April 30, 1849, in which the directors stated
that the expectation which they had repeatedly ex-
pressed of increased income from their rent rolls had
been fully realised. The addition to their rental,
secured during these six months, was as follows :
Increase to the annual rental of the town property,
281/. 123.; ditto port buildings, 313/. ; ditto country
lands, 9161. 17s. ; the increase in the net receipts of
the wharf during the same period amounts to
2661. 6s. ld., making a total of 1,777/. 15s. ld. By
dispatches to the 24th August, information! had
been received from the Colonial Manager of further
leases effected during the preceding four months, as
follows :—Of country lands, 3,009 acres, annual
rental (being nearly ss. Bd. per acre, average),
851/. 14s. 01.: of town lands, rather less than four
acres, for 21 years, chiefly on building leases,
179/. 103. Od. ; of port lands, of small rear allot-
ments, 13/. Bs. Od. ; total, 1,044/. 12s. Od.
During the six months from October, 1848, to April,
1849, only two country sections had been sold,
3ielding a surplus beyond the valuation in last in-
ventory of 2501. The sales of the town acres had been
confined to portions of those of which part had been
previously sold, excepting two acres in North Adelaide,
which realis ed 1001. above the inventory rates.
There was reason to believe that by this time opera-
tions had commenced for forming a railroad from
Adelaide to the Port, and, as the terminus was likely
to be on their land, in the rear of the extended wharf,
their property there would become still more valuable.
Some very advantageous sales of small allotments, had
in consequence been made, at a rate rather exceeding
2,000/. per acre. Fortunately they had upwards of a
hundred acres there, with a continuous line of frontage
to the harbour, upwards of a mile long. A steam
tug was in active employment at Port Adelaide, and
machinery and drawings for a dreding vessel had
been sent, for which the Colonial Government pro-
vided the funds. These measures should greatly
benefit the harbour, and afford facilities for the con-
tinued improvement of their property. The portion
of last year's clip:of wool, which:was sold after the
annual meeting, did not bring quite so good prices
as that sold in May. The net proceeds of the wool
amounted:to 5,662/. Is., as against 3,624/.63.17d. of the
preceding year. The market had decidedly improved,
and the prospects for next year are very encouraging.
The sales of sheep, and value of those killed for ra-
tions during the six months preceding the 30th April
last, amount to 1,232/. Is. 2d. The mining opera-
tions of the company continued to be carried on, to
a very limited extent, and on the most cautious prin-
ciples. The board had repeatedly advised their agent
that it would be more agreeable to them if they could
succeed in granting sets of these mineral lands to
those who would work them with spirir, judgment,
and perseverance, and pay them a fair royalty
—than working them on the company's account.
Messrs. Thomas have erected smelting works at Kan-
mantoo, agreeably to which all their ores for two years
were to be smelted by them, and returned to them in
copper. This would give a value to low ores, which
could not have paid freight and charges to England.
A quantity of ore had been sold to a smelting com-
pany in Van Diemen's Land, and previously to the
18th April there had been delivered to them 25 tons,
at 12/. 13s. per ton. The directors had studiously
avoided exciting sanguine expectations as to the
probable produce of their mineral lands, and they
thought it necessary to caution the shareholders
against attaching undue importance to it. Gold had
been found in several parts of the company's land.
A scientific practical mine surveyor of high character
had shown them specimens of the gold, and stated
that he should consider himself remunerated for
superintending such workings with one-fifth part of
the net profits derived therefrom. This information
was transmitted to the board by Mr. Giles so recently
as on the Ist August last. Emigration still steadily
continued both of the labouring classes and of those
possessed of c pital. Increased facilities (much called
for by the colonists) will have been afforded ere this,
for legitimate banking business, by the establishment
in Adelaide of a branch of the Union Bank of Aus-
tralia. Upon the whole the board congratulated the
proprietors on the steadily increasing revenue of the
company, their favourable prospects, and the rapid
progress which the colony had made in all the elements
of a general and most substantial prosperity.
The CHAIRMAN, in moving the adoption of the
report, said it was almost unnecessary for him to
make any observations, as they had endeavoured, and
he hoped with a tolerable degree of success, to supply
the sturehollers with information up to Vie latest
period. The conveyance of dispatches was now
rather difficult and tedious, but by means of overland
intercourse their information was within a period of
three months. The report would show that they
were progressing as rapidly and fairly to that
system of things which would exclude everything of
a doubtful or speculative nature. The rise in the
price of wool would enable them to get rid of their
flocks without loss ; and they c xpected that they
would soon be in a position to have applied to the
mines the industry, capital, and activity of others,
instead of working the minerals themselves.
Mr. LAWRIE cordially seconded the resolution,
thii,k'ng that the directors bad done everything to
promote the interests of the company.
Mr. MILLER said he was gratified to see that the
income of the company had increased by 2,000/., but
he was anxious to know how much had altogether
been extended in their mining operations.
'The CHAIRMAN replied that the total amount, in-
cluding everything connected with the mines since
they commenced working in December, 1845, was
31,0001., but there was to be set against this, 8,8001.
which was received by sales of ores in this country,
and also 8,900/., the estimated increased value of the
land ; and he thought there was a very good prospect
of recovering the remainder by royalties or by fur-
ther sales of ores.

After a short discussion the report, was agreed to
and ordered to be printed.
Mr. MILLER moved a resolution to the effect that,
in consequence of the great risk and uncertainty
attending mining operations, the meeting was of
opinion that it was inexpedient to employ the funds
of the association in working or preparing their
mineral property.
The motion was seconded by Mr. 'WATSON.
The CHAIRMAN said there was no one more against
mining operations than he was, and the directors had
already done what this resolution expressed, for they
had given positive instructions that no more of the
company's capital should be employed in mines which
would not pay a profit.
A vote of thanks was then passed to the Chairman,
and the meeting separated.

IRELAND.
FROM OUR CORRESPONDENT.)
• DUBLIN, THURSDAY EVENING, DEC. 27.
The stereotype dictum of " No news," holds still.
Last night we had a bad pantomine in the Queen's,
and far worse in Hawkins'-street. But as first
representations of such matters are seldom
successful with critics, it is very probable both
will prove remunerative. A representation,
at Hawkins-street, of the Royal Family, very
infelicitously introduced, caused a great outcry, and
the poor quasi Prince of 'Wales, dressed en matelot—
not, indeed, as a British tar, scampered off at the
first dissonance cf his reception. The political allu-
sions were all in exceedingly bad taste, though pretty
well " put in," and were accordingly vociferously
reprobated by the denizens of the upper spheres. The
libretto i 3 written by Captain Leicebter Smith, and
even exceeds that gentleman's capacity for writing
nonsense.

If the Solicitor-General (Mr. Hatchell) does not
staid fcr Windsor, in the room of Lord John Hay,
Mr. Baldwin, Q C., chairman of Curk, and
sergeant at-lew, must undergo the ordeal and
the costs of an election. Governmeut are determined
to have one legal officer from Ireland in the Imperial
Pcljament ; and, heaven knows, poor Monahan, the
Attorney General, has no chance of advancing any in-
terest in a deliberative assembly. Let the royal
pocket borough of Windsor get ready for the recep-
tion of an Irish Attorney. General's devil, or provin-
cial chairman, if the fat and factious Hatchell don't
" take on."

Saunders to-day says, Dr. Kirwan, the Presi-
dent of the Galway College, is dead. We have no
letter or paper from the west to confirm or contradict
the report ; but I would not be surprised to hear of
the Learned Gentleman's decease, for he has been for
some time labouring under a paralytic attack.
Mr. Francis Morgan was this day re-elected law-
adviser to the Corporation of Dublin. The richest
thing in this business is, that poor Morgan had to
run to France last year, for a suspected intention of
breaking, along with Smith O'Brien and the rest,
the law, which I suppose experience will now better
enable him to expound. This is about the funniest
thing that has occurred since this pantomime season
set in.

There are three country papers in to-day. They
don't contain anything except a fair or so.
MONEYMORE FAIR.--The monthly fair of this town
was held on Friday last, and was the largest held for
some time past. The day being fine there was a large
attendance of both buyers and sellers. The supply of
horses was above an average, and sold pretty freely,
particularly those for farming purposes. A few good
11.,rsps wcro sold. The cattle market was large also,
but no improvement was visible, except in beef, wbiob