The Sun.
London, England, 1849-09-01 00:00:00

the matter stood, and the resources of the Norfolk line.
Why were not facts end accounts produced ?
The CHAIRMAN said the directors had not jet had
time ; they should be forthcoming as soon es pos-
sible.—(Here there were loud cries of " Vote, vote.")
Ile did not see the necessity of voting upon the amend-
ment, since the directors pledged themselves not to pro-
ceed upon the subject until the proprietors were again
called together.—(Cries of " Vote, vote.")
The amendment was then put, when it was lost by a
large majority, and amidst much cheering.
Mr. Howse demanded a poll, amidst much dissatis-
faction and ridicule.

The report was then put and carried.
The CHAIRMAN announced that the poll would be
taken on Monday.

Several gentlemen here personally explained to the
Chairman that they did not intend to treat him with
disrespect, as he might have imagined from their heated
expressions.
A vote of thanks was then passed to the Chairman
and directors, who briefly expressed his acknowledg-
ments, the utmost confusion, no less
than three persons were gesticulating away at once—
that if ho had shown himself more sensitive at the
aspersions that had been cast upon him than he should
have done, he expressed his regret On behalf of the
directors he might state that nothing should be left un-
done to render the line beneficial to the public and to
the shareholders.—(Cheers.)
The meeting then separated.

NORFOLK RAIL WAY.
The half-yearly general meeting of this company took
place yesterday at the Company's offices, Guildhall-
buildings.
Adam Duff, Esq., the chairman of the company, took
the chair shortly atter one o'clock.
The usual routine business having been gone through,
The SECRETARY read the following report:—
. When the proprietors last met for the purpose of
sanctioning the Bill for the amalgamation with the
Eastern Counties Company, it was not anticipated that
again
been
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last stage of the Bill in the House of Lords,
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Newmarket and East Auglian Companies, which it was
impossible to resist successfully in the then advanced
sthttaagethoe ea of
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assigned for the rejection of the Bill by
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proprietors,
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share-
holders, of amalgamation, and arose from circumstances wholly
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measures as were advised by counsel, for rendering the
union between the compani. s as complete as possible
until an Act of Parliament shall be obtained.
Your directors have accordingly entered into a sup-
plemental agreement with the Eastern Counties Com-
pany to the following effect:—The terms of complete
amalgamation, as to be sanctioned by Parliament, shall
remain the same as already agreed to. But to prevent
litigation, and in order that the transactions of both
companies pending the sanction by Parliament of the amal-
gamation may be regular and legal, it is agreed between
both companies as follows:—That the Norfolk Company
shall repay the Eastern Counties Company's advances.
That the Eastern Counties Company shall purchase
the Norfolk Company's rolling stock now in their pos
session, and pay for the same by instalments, as may be
agreed between the companies. That instead of a lease
of the tolls to terminate in May, 1855, the Eastern
Counties Company shall, under the 208th sec-
tion of their Act of Incorporation, work and
use the Norfolk lines until the same date,
and pay to the Norfolk Company such rates
and tolls as shall be sufficient to enable them
to pay the expenses of maintaining their lines, and the
interest on their guaranteed stocks and borrowed moneys,
and a like dividend half-yearly to their proprietors, as
shall be paid to the Eastern Counties proprietors. That
the Norfolk Company shall complete the works at Lowe •
stoft Harbour. That the Eastern Counties Company
shall keep up the Norfolk rolling stock to the
same state of efficiency as when received, and
that the Norfolk Company, in May, 1855, if the
amalgamation be not then sanctioned by Parliament,
shall re-purchase the said rolling stock at the same
price as shall be now paid by the Eastern Counties
Company for the same. That if the amalgamation be
sanctioned by Parliament, the purchase of the rolling
stock shall be annulled, and the payments on account of
such purchase by the Eastern Counties, to become ad-
vances to the Norfolk Company, and charged against
them as part of their expenditure, to be comprised within
the agreed limit of 2,300,0001. That the Eastern Coun-
ties and Norfolk Companies shall unite in further appli-
cation to Parliament for sanction to the amalgamation,
and for the establishment of a fair and just tariff to re-
gulate the lines of both companies, and shall appeal to
the justice of Parliament, not to impose or to continue
upon any portions of the lines, rates or terms for carry-
ing, which experience shall have proved are not ade
quately remunerative.
" At the Eastern Counties meeting, to be held this
day, it is proposed to declare a dividend of two shillings
per share. upon the stock of the Eastern Counties and
Norfolk Companies, equal to ten shillings upon the 1001.
stock of this company, for the half-year.
"Disappointment will no doubt be felt by the Nor-
folk shareholders at the smallness of this dividend, but
it must be recollected, that the Eastern Counties Com-
pany have had to contend with difficulties of no ordinary
kind during the last half-year. Independently of the
neral depression which has pervaded all commercial
enterprise, the divisions and agitation which have
existed among the proprietary, have necessarily had a
paralyzing influence on the exertions of their management
The manner in which their revenue account is stated
affords the best guarantee for the future honest admins

tratiou of the affairs of the united companies:ft;i-1-1 he
satisfactory to the Norfolk proprietors to know, that their
lines have contributed theirfullproportion of net earnings.
When the undivided attention of the management shall
be given to the developement of the resources, and the
efficient and economical working of the consolidated un-
dertaking, your directors confidently anticipate a gradual
and permanent improvement in the value of the property.
"The attention of your directors has been applied tai
the reduction of the expenditure of this company, to the
smallest possible amount, and Mr. Till having expressed
a wish to meet the views of the directors in this matter.
has resigned the office of secretary, offering his services
in any other way in which he could be useful, and the
directors being desirous to ensure a continuance of his
assistance in another capacity where he might be squall)
serviceable to the interests of the company, have elected
him a director, in the room of Mr. Betts, who has re.

signed; and they have also appointed hini a member of
the joint committee of management.
" Since the last meeting two of the directors
have retired, namely, Mr. Betts and Mr. New•

bery, and your directors recommend the proprie.
tors to exercise the powers vested in them of per
manently reduoing their number to eight. The)
also recommend that their allowance should be re•

duced from 1,000/, to 6001., and that 4001. W-this- sum

should be appropriated to the members of the joint com-
mittee, upon whom the burden of the future manage
went of the undertaking must necessarily devolve, and
which will require their constant attention.

" The directors have appointed Mr. James Hutt, who
has hitherto acted as registrar, to be the new secretary
of the company, at a salary of 3001. per annum.
" The capital account for the present half-year has
not been audited, in consequence of the late audi tors
having disqualified, and therefore declined to act. The
Eastern Counties Company, however, have rrquirea
that the whole accounts should be submitted to a public
accountant, whose report will be laid before a future
meeting. It will be the duty of the proprietors to ap-
point new auditors at this meeting."
On the motion for the adoption and circulation of the
report,

Major COURT moved as an amendment that the meet,
ing should be adjourned, in order to give the share
holders an opportunity of considering the report.
The amendment having been seconded some consider
able discussion took place, but ultimately the amend-
ment was withdrawn, and the report agreed to.
Thanks were then voted to the Chairman ani direc-
tors, and the meeting separated.