The Sun.
London, England, 1849-09-19 00:00:00

BELGIAN EASTERN JUNCTION

RAILWAY.

A special general meeting of the shareholders was
held yesterday afternoon at the London Tavern ; Sir
Frederick Smith presiding.
The report stated that the directors had been dis-
app,inted in not receiving an answer from the Bel-
gian Minister of Public Works, the expectation of
which had alone induced them to call the meeting.
After detailing their proceedings, it went on to say
that a large body of influential coal owners
and other proprietors in the vicinity of
the proposed line had petitioned in favour
of the project, and this, the directors believed, had
contributed to remove the unfavourable disposition
which the Minister had latterly manifested to it.
They were at a loss to account for the neglect of the
Minister, and they could only ascribe it to the diffi-
culty of assembling a council of Ministers, owing to the
absence of the Prime Minister and the Minister of Fo-
reign Affairs, as well as the severe illness of another Mi-
nister, who for some weeks had been on the point of
death from an attack of cholera. As soon as the answer is
received they will convene another meeting, and sub-
mit to the shareholders such measures as the reply
may suggest. The financial position of the company
was more encouraging than on the occasion of the
last meeting. They had received assurances from M.
Grehan, upon which they placed full reliance that
M. Messel would eventually he able to liquidate the
whole of his debt to the company with interest.
The Belgian funds, in which the caution money was
invested, had risen considerably in price, so that if'
realised at the present moment, they would
.produce
25,0001. in lieu of 18,0001., their estimated value at
the,last meeting. The delay therefore in realising
them would be amply compensated, if the company
should now succeed in the pending negotiation, and
be permitted to employ their capital in the execution
of a part of the line. In that event also an arrear
of two years interest would be allowed to them upon
the caution money, amounting to 2,5791.
From the statement of accounts, it appeared that
the disbursements and expenses amcunted to 2,256/,
2s. id., and the investments and balance, both here
and at Brussels, to 52,r144/. 9s. Bd. The liabilities,
on the 31st of August, 1849, were 5321. 12s.
The CHAIRMAN said that after mature delibera-

Lion the directors had not called a meeting in
July last, 111/1 in January preceding, owing to
certain negotiations then going on with the
Belgian Government, which a meeting might
have altogether neutralized. They had now to con-
sider whether it was best for them to have
the caution-money returned back, or whether they
should apply it to making a line from Warre to
Manage which he believed would be, with one excep-
tion, the most profitable railway in Belgium.
What he proposed was, that they should pass
a resolution expressing their disapprobation at
not receiving the Minister's answer to the
proposal of the directors, and requesting that one
might be returned as early as possible. He would
also suggest that two shareholders should be sent to
Brussels to convey the opinion of the meeting to the
Minister,`with whom they should obtain an interview.
In reply to Mr. M'Alpine, the CHAIRMAN stated
that all the claims in England had not been liqui-
dated; that those which remained unpaid amounted
to 5321. 12:q. 10d , and that the directors had
6991.145. 6d. in hand to meet them.
After some discussion a resolution in accordance
with the suggestion of the chairman was proposed by
Mr. FIELD, seconded by Mr. M'ALPINE and carried,
that a letter be written to the Minister informing him
that the meeting stood adjourned until Friday, 12th
of October, in order to receive his answer.
The farther consideration of the report was post-
poned until that day, and after a vote of thanks to the
Chairman, the meeting separated.