The Sun.
London, England, 1849-08-29 00:00:00

Mirror

Master Murray
Bastilion ..
elebeia ..
Tneodore Hook..

Anions
Blarney
Fernando
Slang ...

Gardenia
Companion

The King John Stakes.

Won by half a length.
The Gold Cup.

... ... ...
Won by six lengths.

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NEWMARKET AND CHESTER-
FORD RAILWAY.—(THIS DAY.)
The usual half-yearly general meeting of the pro-
prietors of the Newmarket and Chesterford Railway,
wan held this afternoon at the London Tavern ; Mr.
C. S. Mortimer, deputy-chairman of the board of di-
rectors, in the chair.
The following was the report of the directors :
" Immediately after the adoption of the report made
by your committee of investigation, a new board of di-
rectors was formed consisting of the following gentle-
men :—Lord George Manners, Mr. Ball, Mr. Fane, Mr.
Hunt, Mr. Mortimer, Mr. Shelley, and Mr. James
Wheeler.
" Upon reviewing the different subjects which Fre-
seated themselves for consideration, it was obvious that
nothing could be immediately done on the subject of the
relations of the Newmarket Company with either of the
larger companies, by which its interests and prosperity
must be mainly affected. Your directors, therefore,
turned their attention first to the ascertaining and
settling those liabilities as to which the committee of
investigation had expressed an opinion, that they would
admit of ' considerable reduction,' and they are happy
to state that they have made satisfactory progress in the
adjustment of some of the heaviest of them.
" The unsettled state of the Eastern Counties' Rail-
way Company has prevented your directors from at-
tempting any negotiation with that company, or seeking
any better arrangement as to the working of your line.
Your directors deemed it necessary to oppose the pro-
posed amalgamation between the Eastern Counties' and
Norfolk Companies, an amalgamation which must ob-
viously have been highly injurious to all smaller compa-
nies a orking in the eastern district, and they congratu-
late their proprietors on the defeat of that measure.
"Your directors, in their last report, expressed their
great dissatisfaction at the result of the working of their
line by the Eastern Counties Railway Company. That
dissatisfaction has increased rather than diminished, and
it is the intention of your directors to resume the work-
ing of their own line at an early period, unless some ar-
rangement should be arrived at, which may ensure more
satisfactory results.
" Your directors attach the greatest importance to the
completion of the Cambridge Branch, and they are sa-
tisfied that when it is completed, and such additional
accommodation has been provided on the main line as is
indispensable to develop the traffic, the undertaking
will become remunerative. Your engineer has made an
estimate, by which it appears that the necessary accom-
modation on the main line may be completed for a sum
not exceeding 2,500/. The works on the branch have
been delayed until it is ascertained at what point the
Great Northern Railway will ultimately enter the town
of Cambridge.
"In accordance with the suggestion in the report of
the committee of investigation, your directors waive all
claim to remuneration. They have not, however, thought
it necessary to appoint a managing director hilst the
working of the line is entrusted to the Eastern Counties
Bailway Company.
"C. S. Alortither, Esq., having been appointed one of
your directors, it will be necessary to appoint an auditor
to act in his place.
" A resolution will this day be submitted to you, fur
confirming the declaration of forfeiture made by the
directors of 315 shares, of which notices, as required by
the Act of Parliament, have been given to the respective
proprietors, who are reminded that the fact of forfeiting
their shares does not release them from their legal liability
in respect of all calls made previously to this date. The
directors take this opportunity of reminding those
shareholders whose calls are in arrear of the necessity
of their being immediately paid, otherwise they will be
compelled, in justice to those who havo been punctual,
and thereby supplied the necessary funds for liquidating
the company's liabilities, to take legal steps to enforce
their payment."
The revenue accounts represented the receipts of the
balcyear to amount to 3,4414 ss. 4d., and the expendi-
ture to 3,4631 9s. 6d., exhibiting a loss.
The CHAIRMAN, in moving the adoption of the re-
port, regretted the absence of their Noble Chairman,
but assured the meeting that he still took a great in-
terest in the success of the undertaking. He was
happy to say many of their liabilities and outstanding
debts had been satisfactorily disposed of. He, how-
ever, could not congratulate them upon the successful
operations of the line. The meetin4 was aware that
it was worked by the Eastern Counties Company,
who did not feel it for their interest to do much to
develop the traffic, while their charges for working
were most exorbitant. For instance, they were charged
Is. 01. per mile for locomotive power. On the
Southampton line the same power cost only
6d. or 7d. In addition, however, to the working
charges, the Eastern Counties Company had imposed
upon, them a further incumbrance of 600/. for what
they called " management," but it ought rather to be
for " mismanagement."—(Laughter.)
In answer to questions,
The CHAIRMAN stated that the board had it in con-
sideration to let the working of the line on contract
to independent parties, and it was anticipated a large
siving in the expenditure would be effected—indeed,
au offer had been made to work the line for Bd. a
mile

The report wa; then adopted, and its recommenda-
tions agreed to.
Thanks were then voted to the Chairman, and the
meeting separated.