The Sun.
London, England, 1849-01-23 00:00:00

No. 17,575.]
,!.;42
, •
LONDON TUESDAY al

Rochester, and the result will show that the capital was adequate to
the purpose.
The line from Gravesend to Rochester is on a different footing;
the company were authorised by their Act to purchase the railway
and canal, and to fill up the eanal, and double the line ofrailway,
so as to form a part of the South-Eastern North Kent line, but ne
prevision was made by Parliament far the payment of the purchase
money, nor any authority given to raise money for that purpose.
Parliament had, however, previously recognised the principle and
necessity of a grant of power to raise money for the purpose of exe-
cuting the works, by autinrising the Gravesend and Rochester Rail-
way and Canal Company to raise 85,0001. by the creation of shares,
and 56,6661. by mortgage, and all the powers of the Gravesend and
Rochester Railway and Canal Company were vested in the South-
Eastern Railway Company by the Act of Parliament authorising
them to purchase the railway and canal.
The South-Eastern Railway Company purchasel the Gravesend
and Rochester Railway an t Canal for the sum of 310,004 ; paying
31,0001. in cash, and giving bonds for 279,0001., payable, with inte-
rest at three and a half per cent. per annum, in the year 1851, and
application will ronsequer.tly be made to Parliament to raise the
sum of 358,9851., for payment of the purchase-money and interest.
The filling up of the canal, and doubling of the line of railway,
has b=eta executed by the South-Eastern Railway Company ; and
the line was opened by them for traffic as a double line on the 23d of
August, 1847.
In addition, the proprietors authorised the payment of interest on
the No. 3 and No. 4 Shares ; but they did not provide any specific
fund for such payment. The amount paid up to the Ist instant is
159,1661. 175., and the further amount that will he payable under this
head is dependent in some measare on the time of opening the new
lines—it may be taken at 205,016/. 6s. 6d.
Had this payment of interest on the No. 3 and No. 4 Shares not
been made, it would have been out of the power of the company to
maintain, as they are doing, full faith with Parliament in construct-
ing those lines, to the completion of which Parliament itself looks,
and justly, with considerable interest..
The additional sum of 350,9851. will make the whole paid-up
capital of the company 9,466,3601., which will represent 296 miles of
railway open for traffic, and a locomotive and carrying stock of the
value of upwards of 600,0001., free from mortgage and other debt,
earning revenue, and subject only to the deduction of the working
expenses, rates and taxes, and of the rents of the Greenwich, the
Reading, Guildford, and Reigate, and the Canterbury and Whitstable
Railways, and the proportionate toll over the 6 anises and 40 chains
of the South-Western Railway.
The revenue produced by the lines open during the last year,
162 miles and 66 chains in length, was 449,725/. 11s- Id., or 2,7631.
per mile.
The policy of the company for the last four years, that they should
themselves be the carriers of goods on thnir own lines, has been
adopted with entire success : the receipts from goods, which aver-
aged weekly 6081. in 1844, amounted to 1,8101. per week in 1848 ; or
in the former year to 6/. 12s. per mile per week, and to 121. per mile
per week hi the latter.
This policy the directors believe will be still more successful
when applied to the traffic of the whole South-Eastern system of
Railways, and will then produce more than a corresponding increase
of receipts.
The proprietors will take into consideration, in estimating the ad-
ditional revenue to be obtained when the whole 296 miles of railway
are open, the anticipated improvement of the continental traffic in
passengers and merchandise, the return to be derived from the
North Kent line, the Bricklayers' Arms Junction, and the other
railways in progress, as well as the general prospects of the country,
and' the hope of' a greater development of the existing traffic of the
South-Eastern district, and they will probably arrive at the conclu-
sion that the permanent dividend to be derived from their property is
not likely to be less than 6 per cent. ' • and if the proprietors have not
erred in the anticipations on which their original investment was
made, still greater advantages are to be expected.
The South-Eastern Railway Company holds, from its natural posi-

lon, the key to the land traffic passing from Europe into Greatßri

taim and cannot be dispossessed of it; and while it would be of no
advantage to speculate on the results which must attend this situa-

tion, yet it would be improper not to express the opinion of the di-
rectors, that this position must be of great importance and advan-
tage to the company,
At the moment, however, when the railway from Boulogne to
Paris was completed, the French revolution took place, and from
that time to the pr@sen&there has not been as much Continental
traffic as there was afore the opening of the French lines of
railway.

hedisrantion of the political relations of Europe, by which com-
merce generally has suffered, has naturally been visited on the South-
Eastern Railway, as the great highway to the continent.
In the last twelve months only 44,110 passengers crossed to and
from Folkestone and Boulogne by the steam-ships, and in the pre-
ceding twelve months, when the French lines were not opened, the
number of passengers was 49,514.
The establishment of a settled Government in France, and the
continuance of peace throughout Europe, may fairly be expected to
be attended by a resumption of the ordinary extent of communica-
Com with this country; and it will be a solitary exception in rail-
way experience, if the means now existing of reaching Faris daily
in twelve hours from London, by the South• Eastern route, have
not the effect of increasing greatly the number of travellers.
The directors have always look, d to the extension of the railway
system on the Continent and to the completion of the lines pointing
to the Mediterranean with peculiar interest.
To do justice to the Continental traffic, it is essential that the
short sea passage from Folkestone and Dover to Boulogne and Calais
should be performed at hours to suit passengers, and by the best
class of steam-ships, and this, it is well known, has been admirably
effected by the steam-ships of the South-Eastern and Continental
Company, which have made 3,438 passages without a single accident
-the time occupied in the voyage of 26 miles from Folkestone to
Boulogne varying from one hour and three-quarters to two hours
and a quarter.

The revenue of the London. Folkestone, and Dover line, depend-
ing, to an important extent, on the facilities and certainty of quick
passages to and from Boulogne and Caials, the directors are of opi-
nion that it is desirable that the South-Eastern and Continental
Steam-ship Company should be merged in the South-Eastern Rail-
way Company, as the sea service requires to Le performed more with
reference to its advantage to the railway than to that of the proprie-
tors of the steam-boats.

It is requisite that greater facilities should/ be given for the con-
veyance of merchandize between Folkestone and Boulogne, by which
. . . . .

ie South-Eastern Railway Company has hitherto benefited but

little, than the steam-boat proprietors as an isolated company can
afford to provide; and, although the case might be met by a general
guarantee from the railway company on all the passemers and mer-
chandize carried by it and the steam-ships, there would be greater
simplicity, and more effective combination, were the two undertak-
ings united.
It has been shown that the ultimate capital of the railway will be
9,466,3601., whilst 130,0001. hks been sufficie' it to provide eight splen-
did steam-ships for the daily service to France.
With regard to the disPuted claims ox the company,.alluded to in
a previous half-yearly report, and which are all 'referred to arb,tra-
tion, comprising the claims of the contractors, engineers, surveyors,
and solicitors, amounting to 196,8001., the directors believe that they
will be settled for the sum set apart to meet them, viz., 7'38,0401.,
which has been invested for that purpose in the stock of the South-
Eastern Railway Company, as offers have been made to the
directors to compromise the principal claims on a reduction of up-
wards of 60,0001.
The directors consider that the science of working railways with
economy is still in its infancy, and can be only attained by care
and great experience ; and they have the most confident expecta-
. .

Lion that great improvements will continue to be made under
this head. _ _ _

The extortionate parochial assessments to which this company
has been subjected, and to which it was compelled, for many rea-
sons, reluctantly to submit, during the pressure of Parliamentary
contests, are now systematically resisted, arid will soon, so far as
the existing law, which bears very hardly on railway companies
permits, be, the irectors trust, equitably adjusted.
The proprietors will not fail to observe that the difficulties at-
tendant on the commencement and completion of an undertaking
like the South-Eastern Railway are apparent to every one; the
prospective advantages which follow the full establishment and de-
velopment of a great commercial institution, are not so striking,
but are properly to be considered, and taken into account in attempt-
ing to arrive at any fair estimate of its value.
The directors trust that the unabated confidence which they en-
tertain in the South-Eastern Railway will be shared by the proprie-
tors ; and it will be the study of the directors to promote the inte-
rests of the company to the best of their ability.

JAMES MACGIi:

:GOR Chairman,

A 34.—Capital authorized by the Acts 01

Parliament.

C.—Statement of the Liabilities and Assets of the Company •n
Capital Account, Ist of January, 1849
LIABILITIES.

X s. d

.. 1,132,724 0 0

Works, land, stations, permanent materials and
Electric Telegraph • • • • • • • • • •
Lo :omotive engines and carrying stock for new
lines • • • • •
Interest on No 3 and No. 4 Shares • • • • • •
Mortgage debt falling due from the year 1849 to
to the year 1856 .. • • • • ••
Accounts in dispute of contrac-
tors, engineers, surveyors, and
solicitors, and which are pre-
ferred to arbritation and to be

108,900 0 0
205,016 6 6

. 1,201,227 0 0

taxed .. •• 196,800 0 0
Amount invested in South-Eastern
Railway shares to meet the above 133,054 0 OJ

£2,647,867 6 6

£104,747 18 0
14,810 5 1
125,160 0 0
732,657 0 0
141,760 0 0
340,000 0 0
931,325 0 0
353,050 0 0
253,370 0 0

0 0 GO C4l
0 0 0 •-• C. 4
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E TRGENOERPAOL LLTIF COUNTIES
SOCIETY, AND
TE
AASSURANCE
27, REGENT STREET, WATERLOO-PLACE, LONDON.
INCORPORATED PURSUANT TO ACT OF PARLIAMENT.
TRUSTEES.
Spencer H. Walpole, Esq., M.P. I Richard Spooner, Esq., M.P.
Henry Peter Fuller, Esq. I Edward Vausittart Neale, Esq.
DIRECTORS.
•Samucl Driver, Esq., Whitehall.
Henry Peter Fuller, Esq., Piccadilly. "
John Palk Griffin, Esq., Ironmonger-lane, Cheapside.
Capt. Hon. G. F. Hotham, RN., United Service Club, and
Brighton.
Edward Legh, Esq., the Limes, Lewisham, Kent.
Edward Lomax, Esq., St. John's-wood-park.
Samuel Miller, Esq., Lincoln's-inn.
E. Vansittart Neale, Esq., South Audley-street.
Sir Thomas Newby Reeve, Richmond, Surrey.
William Studley, Esq., Brixton, Surrey.
William A. S. Westoby, Esq., Hyde-park•place.
The LIFE ASSURANCE DEPARTMENT of the Society em-
braces:—

Assurances upon single or joint lives, contingent survivorship, or
the survivor of two or more lives.
Endowments of widows and children.
Immediate, deferred, and survivorship annuities.
The payment of fixed sums to the assured at any specific age, or
to their re resentatives in case ofdeath before that age.
Premiums may be paid yearly, half-yearly, or quarterly, or upon
he half premium plan for the first five years.
Loans granted on an entirely new principle.
RAILWAY ASSURANCE DEPARTMENT.
All persons, of whatever class, travelling by Railway in Great
Britain and Ireland, assured in the event of loss of life by accident
whilst so travelling, at the moderate premium of 10s. per cent., in
one single payment, for the whole period of life.
ExAnter.s.—A person may by one single payment of 5/. assure to
his family er others the sum of 1,0001., to be paid in the event of his
losing his life by railway travelling in Great Britain or Ireland.
F. FERGUSON CAMEO UX, Manager.

THE LONDON INDISPUTABLE LIFE
POLICY COMPANY.
INCORPORATED BY ACT OF PARLIAMENT.
Upon the Principle of Mutual Life Assurance, the Whole Profits
belonging to the Assured.
No. 31, LOMBARD-MEET, LONDON.
TRUSTEES.
J Campbell Renton, Esq., M.P. I Richard Spooner, Esq., M.P.
Richard Malins, Esq. I James Fuller Madox, Esq.
William Wilberforce, Esq.
DIRECTORS.

John Hamilton, Esq.
James Fuller Madox, Esq.
John Matthews, Esq.
Charles 0. Parnell, Esq.

STATE S'S ROYAL HOTEL.
NEWCASTLE-ON-TYNE.
CHARLES STATES solicits the patronage and support of Com-
mercial Gentlemen t the above Hotel, which is most centrally si-
tuated. The Commercial-iooln will be found one of the most com-
modious and suitable, and " en suite," the Hotel, in point of accom-
modation, second to none in the North.

TURK'S HEAD •HOTEL,
NEWCASTLE-U PON-T Y NE.
JOHN BRODIE (late of the King's Head Inn, Darlington', re-
turns his most grateful thanks to the Nobility and Gentry, and to his
numerous Commercial and other Friends for the extensive patronage
bestowed u• on him during the las, fifteen years in Darlington,. and
begs respeelfally to intimate that he has taken a lease of the aboi+e
large and well-known Establishment, upon width he intends to enter
on the 2d of February next, and trusts to be favoure-', in this new
undertaking, with the patronage which will be his study to deserve.
The Tnrk's Head will shortly undergo a completel internal re-
novation.
Darlington, January 16, 1849.

NOTICE IS HEREBY GIVEN, that by In-
denture of Assignment, dated the 25th day of November,
1848, Ell M 4. BOARD, of the City of Bristol, Widow, and Adminis-
tratrix of John Board, late of the same city, Licensed Victualler, de-
ceased, duly assigned all the estate and effects of the said John
Board, deceased, then vested in her as such Administratrix as afore-
said; and also the effects of her. the said Emma Board, in her own
right, unto Philip George, the younger, of the City, of Bristol, afore-
said, Porter Brewer, and Charles Tdvey, of the same city, Wine-me•
chant, upon trust, for the benefit, of all the Creditors of the said John
Board, deceased , and that the said Indenture of Assignment was
executed by the said Emma Board, and al.° by the said Philip
George, the younger, and Charles Tovey. on the said 25th day of No-
vember, 1848, in the presence of, and attested by, Henry Gillard, of
the City of Bristol aforesaid, Solicitor.
GILLARD and FLOOR, Solicitors,
January 23, 1E49.
It B. SANDERS, 1, New-inn, London,
Agent for Messrs. Gillard and Flook.
20, Bridge-street, Bristol,

TO CARRIERS AND OTHERS.
TO be DISPOSED OF, with immediate pos-
session, and at a moderate outlay, the BUSINESS and
STOCK IN TRADE of an old-established CARRIER, together
with the convenient Dwelling-house, Office, and Premises, in the
centre of the City of London, where the present Proprietor has for
many years past carried on a successful business, and is now retiring
from trade.

Fog further particulars apply to Messrs. Watson, Broughton, and
Son, solicitors, 5, Falcon-square.

CALIFORNIA FREE PASSAGE
vv EMIGRATION ASSOCIATION.
100,000 Members, paying 11. each.
Members elected to be provided with free passage, an outfit, in-
cludinrmaintenance for one month after arrival out, and working
implements. Every Member will eventually go out.
Prospectuses, with full particulars, at the Office.
Application by letter, to include postage stamp. Post-office Orders
made payable to James Fleming, at the Post-office, London, and en-
closed to the Offices, 50, Leadenhall street.

LONDON and NORTH-WES TERN
Notice is hereby given, that the February Half-
yearly General
LituLWAL
Meeting of the Proprietors of the London and North-Western Rail-
way Company will be held at the Euston Hotel, Euston-place, Lon-
don, on FRIDAY, the 16th day of February next. The Chair to
be taken at Twelve o'clock precisely. At which Meeting it is
proposed ,to consolidate into Stock the 101. Shares A and B of the late
Manchester and Birmingham Railway- ; and such of the 201. Shares
of the late London and Birmingham Railway ; and 401. Shares of the
late Grand Junction Railway as have been paid up in full.
GEORGE CARR GLYNN,
C. E. STEWART, 1
Chairman of the Board of Directors.
CHARLES LAWRENCE,
Deputy-Chairman of the Board of Directors.
H. BOOTH,
Secretaries.
Office, Euston Station, January 22. 1849.

RAVESEND via BLACKWALL RAIL.
WAY, and STAR and BLACKWALL PACKETS.
Railway and Boat included in one Payment.
Fares, to or from London.
Fore Cabin and Second Class Railway, ONE SHILLING ;
Saloon and First Class ditto, OgE SHILLING and SIXPENCE.
To or from Blackwell or intermediate Piers,
Saloon • . • • .. le,

Fore Cabin...• •• •. 9d.
No other Packets call at the Grays or Greenhlthe Piers.
FROM TERRACE_P!PIC• GRAVESEND.

* 11% f 2 and 5
Week Days, at 8,8% , •
Sundays, at 8%, 11%, 1,2%, an. •'•
FROM BRUNSWICK WHARF, BLACKWiLL.
Week Days, at 9%, 11. 12, 1%, 3,4, and 5.
Sundays, at 95¢,
The TRAINS starting one quarter of an hour before each of these
times.
Passages marked * aro run direct, the Packets not being il, 1%, 3%, and 5.
per-
mitted to stop at Piers or for Boats.
Omnibuses from Fenchurch-street Station to all parts of London
every quarter of an hour. •
BOAT TICKETS.—TweIve Months, 41. 4s. ; Six Months, 21. 15s. ;
Three Months, 11. -15 s. ; to be had of the Collectors on board the
packets ; Mr. Monk, Terrace Pier, Gravesend ; or of Mr. Saunders,
Brunswick Wharf, Blackwell.
Passengers' Luggage conveyed to and from the Packets and Rail-
way, at Use Brunswick-wharf, without any charge. The charge for
Porterage at Fenehurch-street is Id. for small parcels, and 2d. for
large parcels.
November 7. 1848. •

AMENDED CONDITIONS.

DONCASTER GRAND NATIONAL
STEEPLE CHASES, &c.

FRIDAY, MARCH 16. 1849, Two STEEPLE CHASES, One
HURDLE RACE, and Two FLAT RACES, Open to all the World.

The Grand National Steeple Chase Handicap of 20 Sovs. each,
10 ft., and 5 only if declared on or before the 20th of February, with
100 added. The second horse to save his stake, and the winner to
pay 15 sovs. towards expenses. Winners from the time of declaring
the weights, once 61bs., twice or more 101bs. extra.
To be handicapped by Mr. E. W. Topham, Chester. About four
miles. The line of country is only one mile from the town, and will
be over grass land only.
To close and name on the 27th of January,' to Edward Nicholson,
Esq., at the Woolpack Hotel, Doncaster, or Mr. G. J. Birley, Clerk
of the Course.
For further particulars see " Bell's Life," or " Sunday Times,"
January 21st, 1849.