The Sun.
London, England, 1849-09-10 00:00:00

RUSSIA.

The Warsaw papers contain the following address
of the Emperor of Russia to the army :
" My children!—God has vouchsafed to bless your
zeal, your manly bravery, and your untiring perse-
verance amidst the greatest
.difficulties. My children,
you did your duty; and 10, the insurrection is quelled.
Wherever the enemy dared to oppose you, you over-
came them, and following at the heels of the fugitives,
you brought about an event of rare occurence, viz.,
the enemy's whole army surrendered to you, and sub-
mitted, unconditionally, to our will. Within two months
e have either captured or taken by surrender 150
standards and 400 pieces of artillery, while above 80,000
insurgents have laid down their arms. Honour and glory
to you! Honour and glory to your victorious leader!
You have again, as you always do, proved yourselves
worthy of the name of the victorious army of all the
Russias. My thanks to you all and each of you. lam
satisfied with you! lam proud of you!

" NICOLAUS.

" Warsaw, August 22."

RAILWAY INTELLIGENCE.
LANCASTER AND PRESTON.

The annual meeting of this company was held at
Lancaster on Thursday, Mr. Bushell in the chair.
The secretary read the report, which stated that the
differences with the canal company with reference to
the lease were terminated. The main portion of the
rent had been paid, and by the arrangement with the
Lancaster and Carlisle Company the fair value of
their property was secured. The balance from
revenue applicable to dividends amounted to 19,619/.
The chairman of this company had taken his seat at
the board of the Lancaster and Carlisle Company.
The directors recommended the reduction previous to
May next of the annuity of 4,8751., secured to the
canal company. The capital account showed that
465,3311. had been expended on the undertaking. The
revenue account to the Ist of August showed that
20,029/. had been received, and 4101. expended, leav-
ing a balance of 19,6191.
The CHAIRMAN said, on referring to the revenue
account, they would find that there was an actual
balance to their credit of 19,619/. 3s. This was the
balance of revenue received ; but it appeared, on the
other hand, that a final settlement had not been
made with the canal company (the late lessees of
the line). Some demands had been made upon them
by the canal company, and some time would elapse
before these demands could be adjusted. The di-
rectors had thought it advisable in the present in-
stance to recommend a dividend of 355. sd. on the
whole shares, 235. 6d. on the three-quarter shares, and
9s. 4d. on the quarter shares. He believed these figures
constituted, as near as practicable, the proportion of
their last dividend, and would, perhaps, give them a
dividend at the same rate for the one sear and two
months. With regard to the capital account, they
would find it was in debt. 1491. 7s. Id., which had
been paid out of the revenue account, and would
have to be reimbursed out of the sale of the com-
pany's working stock, and then added to that account.
With regard to the reduction of the annuity to the
canal company, it was desirable this should be done
while it could be effected on reasonable terms. Up
to the month of May next the affair might be ar-
ranged for 5,0001. less than after that time. He
should therefore advise the raising of the necessary
amount for the reduction of that annuity.—(Hear.)
He concluded with moving that the report be received
and adopted.
Mr. HADDEN seconded the motion.

Dr. COWAN believed the miscellaneous property

the canal company received from them in 1842 was
valued at 40,0001., and that it was agreed that at the
end of the lease it should be revalued and the differ-
ence made good, on whichever side it might be. He
was anxious to call the attention of the directors to
this point.
The CHAIRMAN said the directors were quite cog-
nizant of the facts, and would not lose sight of them.
Dr. COWAN then adverted to the capital account,
and gave it as his opinion that it ought to be closed
at once, and that the 1,300 Carlisle shares sold by
the directors should have been added to the capital
account. A sum of 47,0001. or 48,0001.
would have to be raised to pay off the debt to the
canal company.: Now, the best and easiest way of
doing this, in his opinion, would be to call up 61. a
share on the three quarter shares, and 2/. a share on
the whole shares. There would be a legal difficulty,
he understood, in the way, but this might be got over
by going to Parliament before May.
The CHAIRMAN entered into explanations to show
that the difficulty of closing the capital account was
owing to the disputed titles to some land purchased
and the parties selling it
for the company's use,
having since deceased. He would not pledge himself
te, the shareholders thatthe capital account should not
exceed 467,000/., but from what he knew of the out-
standing accounts he did not think that sum would
be exceeded. As to calling up 61. on the three-quar-,
ter shares, and 2/. on the whole shares, Dr. Conan
was right in saying there would be a legal difficulty,
and one which he (the chairman) was not certain
could be got over by Act of Parliament. He did
not think Parliament would allow them to call 6/. on
shares which were created for the payment of 30,000/.
out of the 150,0001. authorised to be borrowed by the
company under their original Acts.
After some further conversation of no moment, the
report wai put in the usual form and carried by ac-

clamation. -
Mr. MAXSTED then moved that a dividend, in the
ratio suggested by the directors, be declared, and the
motion was seconded and passed unanimously.
The CHAIRMAN proposed that Mr. James White-
side, banker, and Mr. AV. E. Moss, be appointed au-
ditors, at a salary of 51. a year each.
Mr. Moons seconded the motion.—Carried by
acclamation.
Mr. WILLAN next moved a resolution for remune-
rating the directors.
Eventually the sum of 200 guineas was agreed to
he placed at the disposal of the hoard.
—Mr. Hodgson, M.P. for Carlisle, was unanimously
appointed a director in the place of Mr. Coniston.
On the motion of Mr. HoDGsoN, 4001. was voted to
Mr. Bushell, the chairman, and Mr. W. Jackson, the
deputy - chainn,n, of the board, as a slight token of
the esteem of the shareholders for their able extrica-
tion of the company from .43 difficulties.