The Sun.
London, England, 1849-01-30 00:00:00

No. 17,581.] LONDON, TUESDAY E E G

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 authorise t by their Act to purchase the railway
and canal, and to fill up the canal, and double the line of railway,
so as to form a part of the South-Eastern North Kent line, but no
provision was made by Parliament far the payment of the purchase
money, nor any anthority given to raise money for that purpose.
Parliament had, however, previously recognised the principle and
necessity e a grant of power to raise money for the purpose of exe-
cuting the works, by antis wising the Gravesend and Rochester Rail-
way and Canal Company to raise 85000/. by the creation of shares,
and 56,616/. by mortgage, mad 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 purchased the Gravesend
and Rochester Railway anl Canal for the sum of 310,003/. ; paying
31,000/. in cash, anal 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 consequently be made to Parliament to raise the
sum of 359,934/., for payment of the purchase-money and interest.
The filling up •of the canal, and doubling of the line of railway,
has ty,en -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 15
159,1661. 175., and the.further amount that will he payable under this
head is dependent in some measure on the time of opening the new
lines—it may be
.taken at 205,0161. 6s. 6d.
Had this payment of interest on thb 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 330,935/. will make the whole paid-up
capital of the company 9,466,36.01., 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,lntes 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 miies and 40 chains
of the South-Western Railway.
The ret:enue produced by the lines open daring the last year,
162 miles and 66 chains in length, was 449,7251. I Is. ld., or 2,7631.
por tulle. • •
The policy of the company for the last four years, that they should
themselves be the carriers of goods, on their 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 61. 12s. per mile per week, and to 121. per Lie
Per week its the latter.
This po'icy 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 corres;onding increase
of receipts.
The proprietors will take into consideration, in estimating the ad-
ditional revenue to be obtained when the whole 296 -niles of railway
are open, the anticipated improvement ,f 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,
arid 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-
tion, the key to the land traffic passing from Europe into Great Bri-
tain, 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 present there has not been as much Conth ental
traffic as there was before the opening of the French lines of
railway.
The disruption 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 tke steam-ships, and in the pre-
ceding twelve months, when the French lines were not opened, the
number of passengers was 49,314.
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-
tion with this country; and it will be a solitary exception in r 11-
way experience, if the means now existing of reaching Paris 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 Us% 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 I)over 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 3,433 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 Calais, 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 tote 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
the 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 passengers 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. has been sufficient 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 196,800/., the directors believe that they
will be settled for the suns set apart to meet them, viz., 133,0401.,
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 60,5001.
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-
tion that great improvements will continue to be made under
this head.
The extortionate parochial assessments to which this com sany
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, and will soon, so far as
the existing law, which bears very hardly on railway companies
permits, be, the directors 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-Easte:n 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 MACGREGOR, Chairman.

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

Works, land, stations, permanent materials and
Electric Telegraph . • • • • • • • • • 1,132,724
Lo :omotlye engines and carrying stock for new
lines •• .. •. • • •• •• 108,900
Interest on No 3 and No. 4 Shares • • • • 205,016
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
taxed • • • • .. 196,800 0 0
Amount invested in South-Eastern
Railway shares to meet the above 138,054 0 0.1

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Loath-Eastern Railway, London-bridge Terminus, Jan. 15, 1849.

131
ETROPOLITAN COUNTIES AND
GENERAL LIFE ASSURANCE SOCIETY,
27, REGENT STREET, WATERLOO-PLACE, LONDON.
INCORPORATED PURSUANT TO ACT OF PARLIAMENT.
TRUSTEES.
Spencer 11. Walpole, Esq., M.P. I Richard Spooner, Esq., M.P.
Henry Peter Fuller, Esq. Edward Vausittart Neale, Esq.
DIRECTORS.
Samuel Driver, Esq., Whitehall.
Henry Peter Fuller, Esq., Piccadilly.
John Palk Griffin, Esq., Ironmonger-lane, Cheapside.
Capt. Hon. G. F. Ilotham, RN., United Service Club, and
Brighton.
Edward Lech, Esq., the Limes, Lewisham, Rent.
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. Westohy, 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 of death 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 ne v 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 moderato premium of 103. per cent., in
one single payment, for the whole period of life.
ERAMPLE.—A person may by one single payment of 51. assure to
his family or others the sum of 1,0001., to be paid in the event of his
losing his life by ratlyrayt ravelingi n Great Britain or Ireland.
.F. FERGUSON CAMEO UX, Manager.

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

MR. LIONEL GOLDSMID will have the ho-
nour to appear at the MUSIC HALL, Store-street, Bedferd-
square, in a new and entirely original Entertainment, called AT
H)ME AND. ABROAD, on MONDAY EVENING, February 5,
1849. For particulars, see Bills of the day.
Tickets and Places to be secured at the Hall. Doors open at Half-
Fast Seven, to commence at Eight precisely. Hall, 25.; Reserved
Seats, 35.: Private Boxes, li. 10s. and 2/. 2s.

LONDONDERRY and COLERAINE
• : RAILWAY COMPANY.
ELEVENTH CALL, being 2/. 10s. upon each 121. 10s. Half Share,
making, with the amount already paid, 51. called upon each Half
Share.
Notice is hereby given, that pursuant to a resolution of the Board
of Directors, passed this day, Shareholders in this Company are re-
quired,to pay a CALL of 21. 10s. upon each 121. 10s.. Half Share by
Two Instalments of 1/. bs. each, the first of such Instalments to be
paid on FRIDAY, the 20th day of July next, and the second on SA-
Tuaruv,:the 20th day of October next, to either of the undermen-
tioned bankqs :
London—Messrs. Hanburys, Taylor, and Lloyd, Lombard-street.
Dublin—The National Bank of Ireland.
Londonderry—The Branch of the 'Ulster Banking Company.
Interest at the rate of Five per Cent. per Annum will be charged
on all Calls remaining, unpaid at the dates above mentioned.
Interest .at the
.rate of Five per Cent. per Annum will be allowed
on a'l Calls paid in advance.

' By order of the Board of Directors,
FREDERICK 11. HEMMING, Secretary.
Offices, 5, ChUrch-passage, Guildhall,
London, Jan. 29, 1849.

GRAVESEND via ' BLACKWALL RAIL-
WAY, and STAR and BLACXWALL PICKETS.
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, ONE SHILLING and SIXPENCE.
To or from Blackwell or intermediate Piers,
Fore 9d.._
No ether Packets call at the Grays or Greenhithe Piers.
FROM TERRACE PIER, GRAVESEND. •
Week Days, at 8, 831*, 931, 1131, 1, 231, and 5.
Sundays, at 8%, 113¢, 1,2%, and 5.
FROM BRUNSWICK WHARF, BLACKW ILL.
Week Days, at 9%, 11, 12, 131, 3,4, and 5.
Sundays, at 931, 11,131, 331, and 5.
The TRAINS starting one quarter of as hour before each of these
times.
Passages marked * are run direct, the Packets not being 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, 4/. 43. ; Six Months, 21. 155.;
Three Months, 11. 15s. ; 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 the Brunswick-wharf, without any charge. The charge for
Porterage at Fenchurch-street is Id. for small parcels, and 2d. for
large parcels.
November 7. 1848.

IN consequence of the great rush of Visitors to see
BANVARD'S GRIND MOVING PAINTING of the MIS-
SISSIPPI and MISSOURI RIVERS, at the EGYP rIAN HILL,
Piccadilly, the Proprietor respectfully announces Two Exhibitions
every day during the holidays. This immense Painting is the
Largest in the World, and exhibits more than 3,000 miles of Ameri-
can scenery.—The Day exhibition will commence every Afternoon,
at Half-past Two, and the Evening at Half-past Seven o'clock;
doors open half an hour before commencing. Admission, lower
seats, 2s. ; gallery, Is.

THE ROYAL POLYTECHNIC
INSTITUTION, REGENT-STREET.
A View in the Gold District of California is just aided to the New
Series of Dissolving Views.—Lectures on the Cultivation of the
witha
cle,avnaidieotny tolifesAonrgtso,foSnitTiguiensgd,aybyG.
Thursday,Clifford,and Saturday, at a Esq., Illustrated
Q arter to Taree o'clock, and on the alternate Evenings, at Eight.—
On the Electric Light, by Dr. Bachhoffner on Tuesday, Thursday, and
Saturday Evenings.—On Chemistry, by Dr. Ryan, with brilliant
Experiments, daily, and on the alternate Evenings.—Childe's Phan-
tasmagoria, with new effects, Monday, Wednesday, and Friday, at a
Quarter to Three, and on the alternate Evenings.—New Chromatrope.
—Microscope.—Diver and Diving-bell.—Working Models explained.
—The Music is directed by Dr. Wallis.
Open daily from Eleven to Five ; and in the Evenings (including
Saturday) from Seven till Half-past Ten.
Admission, Is.—Schools, Half-price.—The New Catalogue, le.

ÜBLIC NOTICE.-EIGHT NEW LIGHTS.
Psurpasses the Carcel Lamp of
—The only good Lights in the world—they only seed knowing
te be admired. The Diamond Lamp is the only Light that really
cgoivmese.—saTtihsefaveteirotnic,ailtspieamanl
disLuanmkenown ; its superior will never
France in every respect.—The Pearl Candle Lamp with detached
cup, &c., is worth a hundred other Candle Lamps.—To sell the ordi-
nary Candle Lamps is now impossible.—The public have long enough
been pestered with such rubbish.—The Star, the Golden, the Glass,
the Ring and the Reflecting Gas Burners surpass all others beyond
comparison. The Metropolitan Light Company her Majesty's domi-
nions with Light supply.—The Public will have none other.
The whole of the New Lights are constantly burning at the Com-
pany's Establishment, 447, West Strand, RICHARD CLARK, Resi-
dent Manager.