The Sun.
London, England, 1849-08-31 00:00:00

PRICE OF SUGAR.

The average price of Brown or Muscovado Sugar, com-
puted from the returns made in the week ending August 2S,
1849, is 265. 1314 d. per cwt.

EASTERN COUNTIES RAILWAY.
(THIS DAY.)
The first half-yearly meeting of the proprietors of the
Eastern Counties Railway under the existing direction,
and the twenty-sixth of the company, was held this
afternoon, at the Londoa Tavern ; Mr. Edward Ladd
Betts, Chairman of the New Board of Directors, in the
chair. The meeting was very numerously attended, the
large room of the tavern being quite full, the gallery
included.

The business of the day was commenced by tha se-
cretary (C. P. Roney, Esq.) reading the advertisement
convening the meeting, after which the seal of the com-
pany wa► attached to the register of proprietors.
The CHAIRMIN then said—Gentlemen, the directors
have emts d►ed in their report b,fore )t.O as fully as they
can their views at the present time consistently with
the period they have been in office.—(Hear.) And that
circumstance, gentlemen, renders it urtnt ssary for me
to address you further than to say that I shalt be most
ppy, after Mr. Roney has read the report, which he
will now proceed to do, to answer any questions any
llonourtble Proprietor may wish to put.—(lL•ar, hear.)
Mr. RONEY tnen real the following report:—

" The directors have to report to the proprietors, that
immediately after their special general meeting on the
13th July la-t, at which eight new directors were nomi
Dated, the then t xiting board of directors took the
requisite st,p; prescribed by the Act of Parliarn, nt for
t In: admission of the new members, s i that on Monday
the 16'11 of July, the latter were enabb d to take thei
sea s, aid to enter upon the duties of ffii.e, in conjunc
ton wish the remairang members of the old board. The
number of dirt etors wit!, in compliance with the wishes
of the proprietors, be re, used to twelve, and the prc per
stets for thi4 pulp, 53 are being taken in accordance with
the Act of Parliament, and will be brought to a close
Friar to the meeting on the 31st inst.
" The new dirt ctors would but ill deserve the confi-
dence reposed in them. it, at so early a period atter their
eke th. y assumed t) be sufficir ntly informed upon
the extensive atfAiis of the company, to enable them
to recommend a specific course of action upon all sub-
jects 01 interest to the proprietors, but they are prepared
to si ate the principles upon which any future reconi-
menOations from them will be founded.
TneQe may be stared as follows:

"1. To close t to capital account, and thus terminate
the t rizo cause of the undefi Jed condition ..t the c na-
pany's affAirs; not that it is pretended the capital ac-
count will remiin unaltered, for surplus land will have
t be sold, and works may from time to time be neces-
sary. All debits and credits in these respects, will, how-
ever, appear distinctly and separately in each half-yearly
stae cent, and be easily comprehended; and when the
capital z cco•:nt is thus closed, its amount shall not be
materially augmented without the consent of the pro-
prietors.

" 2. To ascertain the value of the fixed and rolling
stock, and every description of property which may be
realiskble. This valuation will be essential to enable the
pi oir.etors to 0:131 an opinion as to the amount of future
net profits to be divided.
" 3. To bring the working expenses into such a system
of accou.it that an increase in any d(partment may be
effectually and instantly checked. Such a system must
be introduced before any great change can be tff:cted for
the improvement of the concern.
" 4. To arrange the accounts so that the net profits,
the assets, and liabilities may each half-year be clearly
shown, and easily understood.
" 5. Not to divide anything but clear net profits, after
keeping up t ff--ctuwly the rolling stock, and setting aside
sufficient to pu,vide for deterioration of permanent way,
iv,e k:, and ataions.

" I. is believed these principles will be found appli-
cable to all questions whleia may arise in respect to the
yr ,o,rty.

" It would have been more satisfactory to the direc-
tors could they have had time to rernotel the accounts
now submitted for the past half-year; but they feel it
is due to the shareholders to lay them as early as pos-
sible, in the best form they are able, betore the proprie-
tary. These accounts, prepared by Messrs. Qulter'
Ball, and Co., and audited by Mr. R., eves, the only
auditor at present, are submitted to the meeting, and
may be regarded as fairly and correctly representing the
revenue and current expenses of the past half •year; and
the directors feel justified in recommending a dividend
of 2g. per each share of 201. of the capital st( ck of the
Eastern Counties and Norfolk Coirpanies. It will be
observed in the accounts, that an ample sum has been set
apart for the halt. year, an,l eharg. d against revenue, as
recommended by the late committee or investigation, for
the renewal of permanent way and works.
The apical account is Mil in the bands of Messrs.
Quilter, Bill, and Co., who have promised to give to it
their continued and clog) attention. Before the next
half-yearly meeting a full statement of the affairs of the
company shall be submitted to the proprietors. With
an income so great a: that now derived horn the under-
taking there will always be a dividend payab'e• but its
amount must depend upon the expenditure attendant upon
earning it. The correction and diminution of this ex-
penditure is, the directors feel, the vital matter of
management; and when they next meet the proprietors,
the latter will have cause to be satisfied, as the directors
hope, that the supervision and reductio of such expen-
diture have not
abeern neglected.
"Alter the ecieTent for amalgamatiLm with the
Norfolk Railwaymajority of votes, re ',.nal'at'Y had been adopted by a
company, the
so large a portion of the
capital of this corn directors could have wished
that it had been in rleitr,ttprollemretnot.repert the confirma-
tion of the agreement by
The BA' for such
Committee in th
confirmation was lost in Cornßeuse of
Lords, and any rteewerl application must'
OYEZ' to a future session of Parliatnenr.Th
e) There is r se.tvirai, nrady.
ai ri
pr ibility of the am-ement thenreceiving
mentaryunction; for the particular opposition, which
succeeded in defeating the Bill, was not to the principle
nor to the terms of the amalgamation, but was in respect
of matters wholly foreign to the subject.
" During the temporary want of the Parliamentary
authority to make the amalgamation complete, the
directors have not hesitated, under the ativice of eminent
counsel at the Chancery bit-, to cury out practically the
wishes of the shareholders so plainly expressed in
favour of the confirmation of the agreement, and to
remove all illegality from the proceedings of both
companies, while the terms of their bargain shou:d
remain unchanged ; and the directors feel assured that
Parliament will eventually sanction the union, sad will

approve the proceedings of the company in the mean- .
time, which secure to the public the beuefi; of the
amalgamation.
" The steps advised by couusel have formed a subject of
a supplemental agreement, of which the lollowitz is an
abstract:—
" The terms of complete amalgamation as to be sanc-
tioned by Parliamint, shall remain the same as already
agreed to.
" But to prevent litigation, and in order that the trans-
actions of both companies, pending the sanction by Par-
liament of the amalgamating 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
st,,reed between the companies."
The reading of the engineei's repor
t wass dispensed
with; but upon its being suggested that th ame c: urse
should he pursued with regard to Messrs. Quitter's
account,
Mr. NATHAN insisted that it ought to be read,
ob!-erving that it was a scandakus shame that
while they were paying 60,000/ a ear for the Nor-
folk line, it only yielded them an annual re-
turn of 20,000/. 110 attributed the desire of the di-.
rectors to carry cut the Norfolk amalgamation to the tact
that some of the. Chairman's relative, held a large inte-
rest in the Nortolk concern.—(llisses, and '• No, no.")

The CHAIR3IAN indignat,tly denied the inapuLition.
The report of Messrs. Quitter was then read. It was
as folows:

To the Chairman and Directors of the Eastern Coun-

ties Railway Company.

" Gentlemen,—ln pursuance of yeair instructions, we
have prepared statements of the revenue of the Eastern
Counties Railway Company, to the 4th of July, 1849,
ani now beg to lay them before you. They are as fel-
lows, namely:—
" 1. Statement of the revenue account for the half-
year ending 4th July, 1849.
" 2. Revenue balance-sheet to 4th July, 1849.
'The accounts are made out in the form usually
adopted by the company in its printed statements, there
not having been sufficient time to adopt any other.
" The current revenue account is framed on the prin-
ciple of comprising within it only those earnings and
expenses s hich are proper to the half-year, including—
as to tie earning E—all those sums which, although not
actually received, are represented by good realisable
assets; and—as to the expenses—all those sums
which, although not actually paid, are represented at the
close of the period by debts due by the company on
revenue account.
" The operation of this principle necessarily excludes
from the account all payments made during the
year in respect of expenses incurred in periodse resual
tn toy
tiho re
thereto, and is intended to bring out
of a
distinct and
th
particular half-year's working, as
that
either by extraneous
independent period, uninfluenced
charges orbe eex,:
hr iebniet
eo
du si creditsthe ;
costihnat nthowis prreesueintted'e, csouh-
je. ct only to any question which may possibly be sug-
gested as to the prupritty of the sum charged as a re-
serve (beyond the amount paid for maintenance and re-
pairs) to cover renewals of permanent way and works.
The amount so reserved is 16,0001.. and it is adopted in
accordance with the recommendation given in that be-
half by the committee of investiyaiion.
" No charge by way of reserve is considered necessary
to provide for renewal of rolling stock, the aclusl pay-
ments debited to revenue for repairs and new stock
I eing deemed adequate to cover the deterioration result-
ing from the traffic of this half-year.
Tne present account shows the net
earnings of the half-year, previously
to charging interest, to have bten X 173,980 3 0
The interest chargeable to revenue
amounts to

148.498 3 10

Leaving a net result 0r...
There is al.° standing at the credit of
the revenue account the surklus re-
maining after payment of the divi.
dend for the halt-year ending 4th
July, 1848, namely
And, likewise, the balance remaining
at the credit of revenue account tor
the half-year ending 4th Jan., 1849,
after charging it with the sum of
97,364/., in pursuance of the recom-
mendation of the committee of inves-
tigation

.L 35,395 I._ 7

"2. The revenue balance sheet is intended to exhibit
the general position of the revenue affairs of the com-
pany on the 4th Jul), 1849.
" With respect to the liabilities to creditors on revenue
account, we believe every pains has been taken, both by
advertisement and otherwise, to ascertain their full
amount.

" With respect to the assets we believe that—the
item of debtors represents good debts ; the item of
stores represents the ac'tial stock on hand ; and the
item of cash, the actual balance at the cry lit of the
company in the bankers' hands on revenue account, on
4th July, 1849.
" We beg to draw:your special attention to the sum of
1:34,027/., standing at the debit of the profit and loss
account, anti forming a constituent item of the revenue
belanec-sheet; it consists of varieus amounts having
relation to re venue accounts of different periods ante cc-
dcnt to the 4th January, 1849, partly ascertained under
the committee of investigation, and alluded to in their
report, and partly the result of our subsequent examina-
tion of the accounts.

"This item is subject to be affected by the pending
investigation of thv capital account, and remains at
present undisp-sed of in the revenu+:• books.
" The amount expend. d on capital scoutul luring the
half year amounts to 186,0921. 17s. 9,1." _ _

The CHAIRMAN said there wai a minute of the com-
mittee f investigaion which he wished now to have
read.
Mr. RONEY then read the

" A meetirg of the car =Mee of birestigati i was
summon. d for the 24. h itn, int, but only tour m nbers,
viz., Mr. Col, Mr. East, . Sher-
W.( d were yrexynt (five being a quorum). It was
ap reed—
" In considering the various recommendations referred
by the committee of investigation to the meeting held
on the 10th of May, 1849, and by that meeting adul:ted,
it will be found that several of them have been carried
into effect, and the remainder are receiving the best at-
tention of the new board. •

"Such being the case, the members of the committee
now present conceive the time is arrived when they
hould be relieved from any further service, particularly
as the investigation of the capital account is in progress
un ler the new board.

" Messrs. Quilter and Ball, the accountants, produced
their demand for the investigation of the revenue account,
as reported by them, and male up to the 16th of April,
1819, amounting to 3601. 16s. 9d., which the directors
are requested to pay."
The CHAIRMAN then moved that the report now read
be received and adopted.
Mr. CHRISTIE, of the committee of investigation—

Mr. NATHAN, cid h at leaA a dozen others, rose to
move an amendment.

Mr. CHRISTIE said, before any amendment was
moved, he wi-hed to say a few words previous to
the committee of investigation giving up its
stew a: dshir. They had now closed their labours as a cora-
mittee of investigation, and they had, they hoped, made a
report, and although in many respects it was very severe
against not only the late chairman but the deputy-
chairman, still this report was such as tl.ey felt it to be
their duty to make. If they had inflicted pain upon
many of the gentlemen who had undertaken the manage-
ment of the company's affairs, he hoped and trusted they
would consider that it was only in the discharge of their
duty that they made the report in such severe terms.—
(Hear.) Havieg ended their labours, they did hope they
would receive some compliment at the hands of the
meeting.—(Hear, hear.) At all events they had done
their very best, and they were now only too happy to
withdraw from the Eastern Counties Company, the
fhirs having been placed in the hands of an able and
honourable body of gentlemen.—(Hear, hear.)
Mr. NATHAN then moved that the paragraph in the
repot relating to the Norierlk Amalgamation be ex-
punged, and that the directors be recommended to take
no further steps, and waste no more money in the matter.
Mr. HOWES bad intended to propose a similar amend-
ment, but having been anticipated, he had great plea
sure in seconding this one.— (Hear, hear.) Having
got rid of this Norfolk difficulty in a legal way, it would
be rash and unwise to enter into a fresh preliminary
agreement.—(Cries of " Hear, bear.") No one
could' be taken by surprise by that course, and
as Parliament had determined that such an amalgama-
tion was nut for the public good, it as quite ridiculous.
with a divided constituency- and an opposition out of
doors from the East Anglian and Newmarket Compa-
nies,
to attempt to fight the battle over again.—(Hear.)
Mr. CRISTIE—The East Anglian and the Newmarket
want us to buy them.
Mr. HOWES said that did not alter the case; aed, in
his opinion, it would be madness to go on with this
amalgamation.—(Hear, hear.)
Mr. EAST said they ought to have had a statement of
the receipts and expenditure in i he Norfolk line.
The CHAIRMAN said a lull statement of the receipts
and expenditure of both lines would ho laid before them
previously to the next half-yearly meeting.
Mr. EAST asked it' the statement would be separate?
The CHAIRMAN replied, yes, as far as it could.
Mr. Wees, N believed the meeting was only anxious to
arrive at truth in this matter.—(Eieer, hear.) He agreed
with the line in Shakspere,
"Sweet are the-uses of adversity."
It ought by this time to have taught them caution, and
he hoped this ill-judged measure reccmmended in the
report would not be hastily entered into. Chesterfield
said the character of a public men, should be like the
virtue of a women, above suspicion; and such ought to
be the character of a railway director.—(Cheers, and
laughter.) Now, Mr. Pao was a large contractor,
ho'ding no less un interest than 100,000/. in the Norfolk
lii:e; and without being offensive to the Ch eirm:: n, becould
not help stating that it was said °uteri doors that the
getalemen in the chair was! the nominee, and might be
tmate the cat's paw of Mr. Peto.—(No, no.) Let them
then throw over the amalgamation at once, and there
would be an end to these personal discussions.— (Hear.)
Mr. R. Wartn:inciured if a committee of the direc-
tors
tahnd Easterueir Counties and the Norfolk bad been
appointed. of
tlie
if'
names.so ho wHme.
asked
dwtehree
question,t re fre mb e
ceaaucshe
board, and "
Mile s's Boy" did say that parties had been appointed
who
haverevti
ebdt et
lea—t
tiLreaeughhatderb.)een appointed
ad
CHAlRMANwiTiohoeughLn"t to
on the part of the directors of the Norfolk,
four on the part of the Eastern Counties. There names
were—Mr. Glyn, Mr. Ellis, Mr. Kinnaird, and himself.
Mr. WA.IID Kid,' then it appeared that Mr. Betts -

(the c'nairoatO rem sented Mr. Pc to's interest. He ven-
tured to say' that that electi n was not an unanimous
one. To use- a Its ,rsh expression made by One of their
one bo:ly, he tnighc say mat such a body ought not to
have been al ipohrited to gulrd the interests of the
Eastern Coun sea, He did not wish to use a harsh ex
pression, but it seethed to him that the appointment was
a scandalous oar. _

Mr. TOZEll.;aid, he must unhesitatingly say that if
this question of the _Norfolk Amalgamation had been
considered wider other and better circumstances, that
such a suggestion woulei be at once rejected. He might
fairly asarame, if the proprietors bad been in the condi-
tion he 'mentioned—in the possessien of the whole of the
facts, order to guide their judgments to a correct de-
ciaion--he should have said, i' there was a strong differ-
ence of opinion, that it was much better to endure loss
rather than keep the company in hot water. But he
cowl:tined that the proprietors had not bad a fair
0/4)6ft-unity of considering the matter.—(Hear, hear.)
By- the report of the committie it appeared that the pro-
posed sunalgamation originated with Mr. Robert Ste-
phenson, who, since that period, had acquired a large
interest is the line, which he said he obtained
' from his father, who Ras a large proprietor.
He did not impute improper motives to
Mr. Stephenson, but he contended that his
advice must partake, as a natural consequence, of pre-
judice, if not tainted by self-inters st. Ha was not in
such a case a fair person to give unbiassed and unpre •
judiced advice. Ne hoped the eew board would nale
out a (Thai' ct line of demarcation Letween the policy of
the old directors and that which should dictate theirs.
They must chalk out a new line and t,ke the
bull boldly by the horns. The proposition for the
ainalgainati.:m had emanated from Mr. Hudson, and
he, knowing something of the company, took the
Liberty at that time to dissent to the proposition altoge-
ther. The country was a very difficult one to deal
with—it was not long enough in proportion to its
breadth, and therefore it required other rail% ay accom
modation, and great competition must be the inevitable
result, which must cripple, to a great extent, the
profits of the other. It appeared that the gross re-
turn for every 1,000/., or say for every 1,000,000/.
sunk in that line, did not yield as good a gross return as
this lice, and therefore he said it was nut fair to amal-
lga-
amal-
gamate on equal terms. Mr. Hudson—who pooh-
tpiooonhesd
ayhiliz
tdhoewynuiwushtenntjht egooibnjteoctmedereto
thea
details—had
ex-
pected a revenue of 3,500/. a week from the line.—
(Oa, oh!) Now he wished to know if there war
any one at thawsoard prepared to make such
a statement 2—(, hear ) It wus altogether
incorrect. The amalgamation was passed in a hurry,
without due, consideratiou. Not one word was said at
that time about the guaranteed stock of the Norfolk.
What bad the Legislature done ? They had left the
question an open one, and the directors being, as he
hoped, unshackled, he trusted they would advise
the proprietors as to the course which they should
pursue.--(Einar, hear.) The committee of inv,stigation
• had not had sufficient time to go into this amongst
• other matters, but the figures which they prUduced
• showed that it would be a most unwise thing to amal-
gamate upon equal terms. Amalgamated management
might be, in some cases, good, but in this cae one line
, would be sacrificed to the other. Indeed, the policy
which led to the formation of the Norfolk line had

proved altogether abortive. The promoters of a line
through that part of the country had to cope with the
difficulty of keeping out opposition and competition from
that district. Now, the Northern and Eastern amalga-
mated with the Eastern Counties, in order to effect
this, yet at that time the Eastern Counties
was about to be opened to Norwich. We, then,
had a prospect of having . two lines, where it
was obvious that but one would pay. They had a
portion ot railway at Brandon which would never pay,
tor it was not adapted to carry affic; and the Norfolk
had the other portion, and they must make the best ot
it.—(Cries of " Hear, hear.") Well, with respect to
the question of guaranteed stock. The best portion
of the Eastern Counties line, between Stratford
and Cambridge, was made with guaranteed stock,
a very unusual thing. But how did they stand with
rest: ct to the Nertolk? The repor: of the committee
said 60,0001. was required to pay the guarantees and
deeenturesiof the Nortoik—( Voice—" 63,000 a")—
and the committee were judging from the hesi. half-year's
rece pts. Why, even so, it took halt the gross receipts
without providing for expenses, to pay the guarantee.
Their guarantee was materially less than that of the
Norfolk.—(Bear.) That was the state of things at
present; but let them bear in mind that a new line to
Norwich, thirteen and a halt miles shorter than the
present route, would soon be opened, which the coin-
mittee stated might abstract some portion of the
passenger traffic. Nuw, it was well known that
tee passenger traffic paid the best, and that if they lost
any portion of that which they enjoyed, which they could
ill aff,rd to lose, the best portion of their business would
leave them.—(ileer.) He wished to know on what data
the committee came to the resulurion that they
had a monopoly of the goods traffic it the)
lust a portion of their passenger traffic. Besides
the lines would cross each other about a mile
trim Norwich. Then he imagined Ord Yarmouth and
tot Norwich supplied the bulk ut the trtlfie, and it was
more likely to go only to Ipswich than to Norwich, be-
comae the line would be fourteen miles shorter, which
might make all the difference whether fish, for in
stance, arrived tresh in London or not.—(Laughter.)
It was said in the report that any loss they might
experience would be compensated tar by the line Iron,
Wymondharn to Dereham, which was a mass of barren
sands. Ho doubted much whether the committee had
not been deluded at Lowestoft by Alr. Stephen-
son as to the greatifi ss of the woe and
had not visited this fart of the line a;
Wyrrondham at all. Why. the Wymondharn and Der. -
ham line did not pay Its expenses.—(A veice—" Ard
never will.) The report of the directors reed
that day intimated that the directors would not
teke upon tLemse:v.s the reqousibiiity of directly
advising the amalgamation, w hich he looked upon
as jesuitieal, and es not marking out a distinct
line of policy. lie blamed them for not expressing their
decided opinion upon the matter. Then if they areal-
, sited with the Norfolk, they must amalgamate with the
Eastern Union on ((lust terms, which paid its proprie-
tors nothing, ant never will.—(Elear, hear.) Ile would
conclude with this advice—make no amalgamation, and
take no Lase unless the whole of the [acts ware beture
them.—(Loud cheers.)
A MEMBER ot the COMMITTEE said his colleagues had
not altered their opinion upon the policy of the amalga-
mation; the matter upon which douot prevailed was the
terms which should he paid.
Mr. KINNAIRD said, when he came into the room he
did not intend to make any observations, but since the
Northern and Eastern had been alluded to, of which he
had had the honour of being deputy chairman, he in-
tended to offer a sew sentences to the meeting. Ile
did not bring any documents with him, because
he did not believe that the matter would be
discussed.—(Hisses.) He did nut particularly object to
it, and was nut to be deterred by clamour, nor by any
person making faces unlike the face of a man. But the
Hon. Proprietor had stated much that was erroneous.
New he believed that the question ot the Norfolk amal-
gamation was one with which the interests of the Eastern
Counties were bound up. Whether it took place or not,
their prosperity depended upon it. It was perfectly true
that 63,000/. was guaranteed, and would amount to the
whole of that sum when all called up ; but it
was unfair and unjust to compare the amount
oLmoney they had to pay years to come for lines to be
ind, ic i
ob
mhne
eautndphe y
eomnat
dot knew
he
this
nothing.
to show
aoß)wg oatbrn h
aar.tt
and
safonandlt hfuaoes
nri tmoranaet ffitdhe :ha
attempt
th b.
had
h
Stemr Now,.phs et
ens
pso
ohmtei some made,
tiod from interested motives; but he was sure Mr. Ste-
phenson was too well known to render any contradiction of
such a statement necessary.—(Hear, hear.) After a
close examination of the matter, the opinion he had ar-
rived at was that this amalgamation would be for the
interest of the Eastern Counties COED pany. In
the first place, the returns of the Norfolk Railway,
as proved by the committee of investigation, were
120,000/ a year, a !lila the amount of produce which the
Norfolk line brought upon their own railway was no less
than 56,0001 tor the year.
The speaker was here interrupted by a terrible uproar,
whtch called up
The CIIAIRMAN, who said ho would adjourn the
meeting unless order and silence were kept.
Some decree of order having been obtained,
Mr. KINNAIRD proceeded to argue at some length in
favour of the amalgamation.
Mr. CASH was afraid they were spending a
good deal of time unnecessarily, as another op-
portunity would be given to the proprie-
tors for discussing this amalgamation question.
Before another step could be taken in the matter the
sanction of the proprietors mnst be given to it.—(Hear,
hear.) He asked then fair play fur this beard. The
paragraph in their report proposed to be left could in no
way commit the proprietors to tho amalgamation, and he
did hope the noisy disputes would be terminated, and
the business of the meeting quietly and calmly disposed
of.—(Hear).

Mr. Wu.soN said a report had gone abroad that the
returns of the Norfolk line were not sufficient to pay its
guaranteed stock. It might be a malicious report; but
he could not help feeling that since there was so much
smoke there must be some flame; and he therefore called
upon the .meeting to pause before they committed them-
selves to the report.
Mr. GLYN argued that the amalgamation would
be of great benefit to this company in many points. It
woull enable them to develop& and receive traffic which
must otherwise fall into the hands of their rivals, and
when the time artived for considering the question, he
was sure the majority of the proprietors would agree
with the directors upon its expediency.—(llear, hear.)
Mr. Yawn thought the accounts were illegal. The
Amalgamation Bill had teen thrown out, and therefore
the tv.o concerns were separate, and one account ought
to have been made out for each line. If they would take
his advice they would have nothing to do with the Nor-
tulle, and he hoped the meeting would nut allow the
directors to forestall the question in the manner they
had proposed.—(hear, hear.)
Mr. ELLIS said the shareholders who dissented from
this atnalg.,:nation represented 25,0001. of consolidated
stock, whit& thoso who approved of it represent, d
upwards of 2,000,000L—(-fear, hear.) Ile had the
honour of being on the committee of investigation who
investiga!ed this matter. lie confessed he went into it
prejudiced, but he came out of it satisfied with its sound-
ness. Nolhing had further confirmed that opinion than
the opposition of their competitors. They looked
upon this amalgamation as their ruin, and their opposi-
tion v. as got no with the view of icing bought off.—
(Hear, hear.) Those who spoke so disparagingly of the
:eceipts of the Norfolk line, observing that thsy were
liss per mile than those of the Eastern Counties, should
remember that while the Eastern Counties line cost
77,0001 per mile, the Norfolk line cost only 24,0001. per
mile.—(Hear, hear.)

The CHAIRMAN said, after the illiberal manner in
which his name had been mentioned at the commence-
ment of this eliscussion, and the aspersions that had
been thrown out against, him and his personal character,
he felt it his duty to slate at once that he was the
nomineeeof no party, and it ill became Mr. Nathan
to make such a charge in a public com-
pany like this.—(Loud cheers.) Four or five
weeks ago he was pieced in the chair by the same
majority that voted on the Norfolk arrellgamatien.—
(Hear, bear.) lie was placed there in the full know-
ledge that he had large interest in the Norfolk Com-
pany, of which his friend and brother-in-law was the
chairman. At the same time he must also mention
that he had had a large interest in this company.
no ss indeed than 15,0004 of stock, which cost him 2s/.
each.—(llrur, hear, and cheers.) It was after basing
been an auditor of the company, and:after refusir g to
audit cue, because he was dissa isfied with it, that he
wits elected to the office be now filled.— (Hear, hear.) It
was at no solicitation of his own that he obtained it;
onerous position Was, he did not seek it; in-
ded
,laethi;duiush the
notadmire the situation or its duties.
But he was sought out by many of the very la-gr st pro-
prietors, arc' almost farad iuto the office.— (Hear, hear.)
Three times had he refused to take a scut at the-ic
board ; but utter he had been elected to the chair-
seetehip of the cempsny, 63 an almost rne u aurus
resuluticn, he did thick it was a most 'radii- thing
to attack him in the tone and manner some honour-
able
proprietors had done.—(cheers.) But it W
a s u,ec et great satisfaction to him, atter whet had oc-
curred to-day, to knew that the largo majority of the
proprietors who had pieced him in the chair still ap-
proved of his conduct.—(hear, hear.) Ileving
said this much with regard to hitnsetf, he nom
felt bound to state his conviction that the
Norfolk amalgamation would prove highly advantageous
to the company.—(friar, hear.) It was right that he
should tell Usual that before he came there he was a
director en the Norfolk board, but immediately upon
his being elected to the chair he now filled, he
resigned his seat on the Norfolk direction ; and
he hoped his character and position in the
City of Loadou would be a sufficient guarantee that he
could not be guilty of the acts imputed to him.—(clear,
heat.) It was his duty to repudiate the insinuations as
publicly as they had been made, and this must be his
excuse fo
upon these personalities.—
heir.)thing emeeting must remembtr
rpropertythat a
d'
ci
s
t: l
e this, representing thirteen
millions, was not to be grasped in a we- k, a month, or
even six months; and he ceutd tell them that their affairs
were in such a condition that unless some Very strong
hated were brought to bear upon them, the company
would become a ruined concern. The gentlemen,
however, who now sat on the direction had
been working for the shareholders during the past kw
weeks eight and ten hours a day, and yet they were told,
by a small section it was true, that they were unfit to fill
the seats they occuteed.—(No, no.) With regard to
the amalgamation question, after the Bill had been
thrown out, and in order to save the com-
pany the expense of heavy Chancery suits,
they bad taken the advice of counsel, arid, acting upon
that advice, they had made a supplemental agreement to
curry out the former arrangement for the term of seven
years. Before, however, any application would be
made to Parliament to sanction the amalgamation,
an opportunity would be afforded to the shareholders
at a special meeting of expressing an opinion either for
or against it.—(Loud cheers.) He had Loped that this
meeting would have gone off gently; had he supposed
they were always to remain in hot water in this way, he
never would have conseeted (utak° the chair, but he hoped
now that he had put the proprietors in possession of what
the directors were doing. that in future they would meet
with a little mere indulgence at their hands.—(Cheers.)
A PROPRIEToR asked if the original agreement did
not bind them to go to Parliament again next session?
The CHAIRMAN replied— Certainly not.
The CHAIRMAN, in reply to a question, distinctly
stated that the directors c, uld not go to Parliament,
and, indeed, would not, with respect to the Norfolk
amalgamation, without again consulting the proprietors.
A PRvPHIETOR inquired if it was true that, during the
present halt year, the income of the Norfolk company
had • been sufficient to satisfy the interest and expenses
of working.
The CHAIRMAN—Not a doubt of it. I know it is a
fact.—(Loud cheers.)
A PeoPullreet, said it had been stated that the New-
market lute would not pay. If so, it was in cons. quence
of the high charges of the Eastern Counties. They
ehareed Is. sd. per mile for lecemotive power, whilst
the Dover and Brighten charged Bd. and 93., and
6001. for management.
A PROPRIETOR said the real cause of all the tumult
that had taken place this day had arisen from the want
of information on the part of the proprietors at to how
the matter s ood, and the resources of the Norfolk line.
Why were not facts and accounts produced ?
The CHAIRMAN said the directors had not yet had
time ; they should be forthcoming as soon as pos-
silele.—(llere there were loud cries of " Vote, vote.")
lie 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 rnsjoiity, and amidst much cheering.
Mr. Howl s demanded a poll, amidst much dissatis-
faction and ridicule.

The ri pert was then put and carried.
The CHAIRMAN ant.ouneed that the poll would be
take: on Munday.

&verul gentlemen here personally explained to the
Chairtnan !IA they did not intend to treat him with
disre,peet, as he might have imagined from their heated

A ro!e of hanks was thrn passed to the Chairman
and directors, who briefly fxpr, ssed his acknowledg-
ffiebts, saying—amidst the utmost confusion, no less
then three p, rsons were gesticulating away at once—
tl,at if be had shown himself more sensitive at the
,sperzioLs that had been cast upon him than he should
have done, he expressed his regret On behalf of the
,irecton he might state that nothing should be left un-
done to render the line beneEcial to the public and to
the share holders.—(Cheers.)
The meeting separated.

NORFOLK RAM WA Y COMPANY.
(THIS DAY.)
The half-yearly general meeting of this company took
place to•day at the Company's offices, Guildhall-
buildings.
Adam Duff, Esq., the eairman of the company, took
the chair shortly atter one o'clot k.
having been
" When the proprietors last met for the purpose of
E y n
rToAußtinehaudsitntlessfohl gone through,
The
The Su usual
sanctioning the Bill fur the amelgamation with the
Eastern Counties Company, it was not anticipated that
they would have again been called together as an indes
pendent body; unexpected circumstances, however, have
since occurred to delay the period of complete union
between the companies.
" In the last stage of the Bill in the House of Lords,
an opposition was got up by parties connected with the
Newmarket and East Anglian Companies, which it was
impossible to resist successfully in the then advanced
stage of the session; it is, however, satisfactory to know
that the reason assigned fur the rejection of the Bill by
the. Lords' Committee was independent of the principle
of amalgamation, and arose from circumstances wholly
out of the control of this company.
"Acting upon the resolutions which have from time
to time been passed by the proprietors, and fortified by
the opinion expressed by several of the largest share-
holders, with whom they have had the opportunity of
conferring, your directors have proceeded in concert with
those of the Eastern Counties Company, to take such
measures as were advised by counsel, for rendering the
union between the compani, a as complete as possible
mail 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 pendieg 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 Cumompany then 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 ceenplete the works at Lowe •
stop 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
Counties
Company as shall be now paid by the Eastern
Company for the same. That if the amalgamation be
sanctioned by Parliament, the purchase of the rolling
stock shall be annulled, and the pa) meats 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 2,800,000/. 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
gu!ate 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 ur tertns lor carry-
leg, which experii nco shsll have proved are nut ado
(pate!), reinunera, ire.
" At the Eastern Counties meeting, to be held this
d q, it is proposed to declare a dividend of two shillings
per share, upon the stock of the B istern Counties and
Nor folk Comp:flies, equal to ten shillings upon the 1001.
stock of this company, for the half-year.
" Disapp:;iutment will no doubt be felt by the Nor-
f.:ilk shareholdi rs, 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
general depression which has pervaded all commercial
enterprise, the divisions and agitation which have
existed among the proprietary, have necessarily had a
paraly zing influence on the exertions of their management.
The mariner in which their revenue account is stated,
affords the best guarantee for the future honest edininis-
tration of the affairs of the unired companies. It will be
satisfactory to the Norfolk proprietors to know, that their

lines have contributed their full r.oportion of net earnings.
When the undivided attention of the management shall
be given to the nevolopemsnt 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 to
the reduction of the exi.:enditure 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 ir,eful, and the
directors being desirous to ensure a continuance of his
assistance in another capacity where he might be equally
serviceable to the interests of the company, have erected
bins a director, in the room of Mr. Betts, who has re-
signed; and they have also appoiuted him a member of
the joint committee of management.
" Since the last meeting two of the directors
have retired, namely, Mr. Betts and Mr. New,
b€ ry, and 3 our directors recommend the preprie-
tors to ex,-reise the powers vested in thew of pe r
manently reducing their number to eight. They
also recommend that tit, it allowance sf!ould be re-
d front 1,0001. to 6001., and that 400/. of this auto
should be appropriated tu the members ot the joint coin-
miitee. upon VI h ta the burden of the luau,: manage-
ment of the undertaking must twee& Laity devolve,
vhichvtillrequiro their constant attention.

" The director; have appointed Mr. Junes Hutt, who
has hitherto acted as registrar, to be the new sec/et:ay
of the c:mpar►y, at u salary of 3001. per annum.
" The capitol account for the pres,nt half-year has
not I e.'n audited, in con,equer,ce of the late auditor:
having disqualified, and therefore dcelit:ed to act. Tii,
Eaittrn Counties Company, however, have rt cpirt.a
that the whale accounts bhuuld be submitted to a public
accountant, whose report will be laid bclore a future
[netting. It will be the duty of the proprietors to ap-
point new auditors at this tr.ee;ing.
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 gibe the share.
holders au opportunity of considering the report.
The amendment having been seconded some consider
able discussion took place; but ultimately the amend.
meta was withdrawn, and the repi,rt agreed to.
Thanks were then voted to the chairman and diree,
tors,. and the meeting separated.

NORTH WALES RAILWAY.
(Tills DAY.)
This half yearly meeting of this company was adver
tised to take place to-day, at the company's offices, Mon-
tague-street, a three o'clock ; but there nut being a
sufficient number of shareholders present to constitute
a meeting, it was adjourned sine die.

THAMES HAVEN DOCK AND
RAILWAY COMPANY,—(THIS DAY.)
The usual halr-yearly me( tint; of the shareholders of
this company was advertised to take place to-day, at the
cumpany's cffices, Gresham Rooms, Basinghall•street;
but there not being a suflit:ient number of shareholders
present at two o'clock to constitute a meeting, it was
adjourned sine die.

COURSE OF EXCH

A nster iani.......... 12 2%
Ditto, at sight •..... 12 1
it ttcrdarn .......... 12 3
25 75
llarriburgh ......31.11. 13 13
•• •• ••
Paris, 3 days'slght .... 25 45

LNGE.- ( TIM DAY.)
Gibra1tar..••..........
Leghorn .............. 31 40
Gea0a..••••......•... 26 GO
Anal) ...•............
Venice................

Naples ........ 4f
Palermo, peroz ........ 121
Messina .............. 121%
• • ..........
Jp0rt0................ 53 Ni
Rio Janeiro ...... • • • •
tuenos Ayres .. •
New York, 21 days'slght
Philadelphia .... • • ....

Ditto, 3 months .... 25 G; y,
25 70
Bourdeaux ......... • 25 70
Frankfort on Mains.... 121%
Peter sburgh, Sil. ltble.. 36%
Berlin. • • ...... • • • •
Vienna, effec. d 0...". 11 40
Trieste, ditto.... • • .... 11 40
Madrid •• •• •• •• •• • • .. 50
Cadiz •• ,• •• •• •• •• •• •• 50%
Barcelona

PRICES OP BULLION, PER Z,
Foreign Gold in bars.. £3 17
Portugal Gold Coin .. G 0 0
3panixh Doubloons .. 0 0 0
_ _

New Dollars .... • • 0 4 COLAs
iilver In bars ........ 0 4 111,

BANK OF ENCiLAND.
(From this night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32, fer
the Week ending on Saturday, the 15th day of August, 1849.
ISSUE DEPARTMENT.

Notes i55ued........ 27,790,130

Government debt .. 11,015,1(.1
Other securities 2,08.1,901
Gold coin and bullion 13,513 56
Silver bullion ...... 276,5.):

£27,790,130 I 27,790,131
M. MARSHALL, Chief Cashier.
1849.
TPAILTISENT.

Dated the 30th day of Auilust,

BANKING DJ
Proprietors 'capital.. 11,553,000
Kent. - .• . • •3,',89,552
Public deposits (in-

Government securi-
ties (including Dead
.. .

eluding Exchequer,
Commissioners of
National Debt, Sav-
ings-banks, and Di-
vidend accounts) .. 6,1 17,
Other deposits .. • . 9,536,i 4
Seven day and other

Weight Annuity).. 14,308,5'6
Other securities .... 9,928.*6
Notes ........ 9,339,361
Gold and silver coin.. 969,713

bills— •• •• •• 1,049.328

31,546.249

£11,546,20
M. MARSHALL, Chief Cushier.
.849.

Dated the 30th day of August, 1.

THE BERMONDSEY MURDER.
(1111 S DAY.)
Mr. Moxey's evidence (Fon:inued from our Afternocn
Edition.)
She gave a general denial to the charge. She was wear
tng a gold watch, chain, and seal before the search took
place,
11.1 and these or similar articles were produced to
by the searchers. (These articles were produced, as well
as two brooches, some postage stamps, a thimble.
and other things, which were found upon hcr.;
I made an inventory of all the article;
found in her possession ; among them sera
some scrip in the Sambre and Meuse Railway, nutnberee
from 6,460 to 6,469, and also some scrip in the Amien
and Boulogne Railway, numbered from 48,665 to 48,674.
These shares we-re described in a bill which I have re-
ived. I also found 10 more shares in the Sambre and
Meuse, running from 26,523 to 26,532, which were not
included in the bill; also what appeared to be a Spanisb
Bond, numbered 3.600. I found also a large sill,
purse, containing 73 sovereigns. There are besides, t.
501. Bank of England note, numbered 11,037, and dater
9th Nov., 1848; six 10/. notes, five of which were dateo
11th June, 1849, and numbered consecutively 67,372.
67,373, 67,374, 67,375, and the other is dated 4th Nov.,
1848, and numbered 78,378; also another Si. note, dater-
13th July, 1839, and numbered 20.057. I also found
counterpart, apparently, of a luggage-ticket, dated
London-bridge Terminus, 13th Aug. There is also s
ticket dated the 14th, from London to Newcastle, lot
excess of luggage. (These, and various other articles
and papers, were produced by the witness.) She was
locked up, us I stated. I saw her in the course of the
evening, to see if she was comfortable; and I ad-
dress( d her as Mrs. Manning, to which she
did not object ; and I asked her where het
husband was, and if he was iu town. She said she
knew nothing of him; that she came off from London on
Saturday when he was out; that he used her very ill,
had maltreated her, and threatened to murder her, and
had pursued her with a knife, and that she was verz
much afraid of him. She then said " I came away on
Saturday, wishing to get rid of him." She said she hao
driven to the Loudon-bridge station, where she had left
a part of her luggage, addressed "Mrs. Smith,
passenger to Paris ;" that she :had then driven to the
Euston square station, and that she had (slept in the
neighbourhood of the station all night (she described the
place, but I could net exactly undeastand her descrip-
tion), and she came off the following Tuesday morning
by an early train, and had come on to Newcastle ; that
she remained in a house there all night, the locality of
which she also attempted to scribe); that she was
taken to the house by two females who slept in the ad
joining room to her. On he next day she spoke in term:.
of the highest gratitude of O'Connor, sa3ing that he
had acted the part of a father to her; that
she had last seen him on the Wednesday; that
he came to her - house in the evening under the
influence of liquor; that she expected him to dinner
on the Thursday, and that she was surprised at his
not coming; that she went to his lodgings to ascertain
the cane of his absence, and that he was not at horn. ;
that she went again on the following day (Friday), but
st e did not hear any tidings of him. In reference to the
money in her possession, she said " It is my own, m)
husband wants to get it from me, and that is the cause
of our quarrel. O'Connor advised me to invest it in
scrip, part of which is that which you have found." She
then said, that in consequence of the quarrel O'Connor
recommended her to call on a Mr. Stephens, or
Mr. Stevens, a stockbroker, that she did call,
and the scrip in uuestion was purchased for her by Mr.
O'Conno,'s directions. She was brought before the po-
lice magistrates in Edinburgh. When she was told of
the charge, she said " I am innocent, and have nothing
further to say." On Thursday I left Edinburgh in com
pony with the prisoner, at half-past eleven in the forenoon.
and arrived in London by the train at half-past four next
morning. I mid :state that I found also a certificate
of marriage between Frederick George Manning and
Maria De Roux. She said nothing to me worth remem-
beriog on the journey to London. I saw no marks or
stains on any of the articles I found. She ex-
plained the reason of her leaving the luggage at the
London-bridge station, by saying that she was iv doubt
whether she should go to Edinburgh, or to Paris and
inform her friends of Manning's cruel treatment of her,
but that she ultimately decided upon going to Edinburgh.
Mr. Edwin, the clerk, then read over the testimony
of Mr. Moxey and the three other witnesses, to which
they severally attached their signatures ; and they were
bound over, iu the ordinary way, to prosecute the
prisoner at the next session of the Central Criminal
Court.

Mr. Edwin then intimated to the persons present that
the prison( r stood remanded until Thursday next, at 12
o'clock, when the examination of the witnesses would be
rebum, (1.

This had the t fleet of clearing the court of a few of
the spectator', but they were so closely packed together
that an open passage for the prisoner to get through
could not be obttlined, aril the officers were compiled
to force their way through the crowd with the prisoner.
The van being in readiness she wa; speedily conveyed
beyond the prtcincts of the court to her destination,
Horst monger-lane Gaol, and the erewd in and about the
court soon dispersed.

It may be mentioned that t, he prisoner's attire con-
sisted of a black silk dress, a black satin visite,
ecked with silk lace, a straw bonnet very plainly
trimmed with a white, pink mil green-coloured silk
riblin, a black lace veil, and a small white collar. The
statements which have already kh-tn put forth that she
is a fir.e built woman, has a good figure, and is possessed
of a lady-like appearance are entirely without
foundation. On the contrary, she appars to have an
almost masculine figure, and to be possessed of con-
siderable strength. Her brow is large and heavy, and

her face, which is long and broad, and scarcely feminine,
has, altogether, a coarse and vuLar appearance. There
is nothing whatever in her person which would lead
a casual ob:ierver to think she is a fur.•igner.
Her self-possession was most rtmitrk.Able when is is
taken into cotiside•retion that the air in the court was
very confined, and also the tact that she was the " ob-
served of all oh_ervers," and that every eye was fixed
upon her during the whole of the proceedings.
She stood •the whole time Crum one Gill half past three),
leaning lightly upon the dock, having refused to take a
chair. Scared) a❑ emotion was visible in her coun-
tenance from the beginning to the end of thu tedious
examination ; but 14 slight tremulous shake ut her
body, as she stood, was observed by one or
two persons. Beyond that, however, nothing could be
seen which indicv t,,d that she was other then quite com-
posed. She had her veil drawn over her face, and did
hot once :iit it up. On being asked if she wanted any
waver, she shook nil. Lead and " No."