The Sun.
London, England, 1847-03-16 00:00:00

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Strl,7 OFFICE, Seven o' Cock

GREAT INDIAN PENINSULA
RAILWAY.—(THIS DAY.)
A meeting of the scripholders in this undertaking was
held at the company's offices, 3, New Broad-street, City, to
receive the report of the directors ; Lord Wharucliffe, Pre-
sident of the Board of Directors, in the chair.
The Noble CIIAIRINIAN said that, -in opening the proceed-
ings of the meeting, he did not feel it necessary to
detain them very long by any observations. They
n would hear the report read, which
wlace them
ld Je company
stood the full possession of the poeitiofi i which
stood at that very time. The meeting he had the honour
to address was not very numerous; but they (the directors)
hoped that they might infer, even from that circumstance,
that they (the shareholders) placed confidence in the mode
in which the affairs of the company had been
transacted. He believed that they were entitled to
that confidence, and he • trusted those who should
hear the report would not have any doubt that
their efforts had been applied to the object fur which the
company had been constituted. When they under-
took to construct that railway, every one knew that
great delays must occur before they could carry out their
object. In the first place, they were aware that the pre-
liminaries would consume an immensity of their time.
They also felt that the governing powers in India were
entitled to claim some delay. It was necessary to make
ingniriee as to distance and expenditure, for if a system
of railway were adopted in India the whole responsi-
bility must rest upon the governing power" there. It
was also reasonable that those in authority should
wish for time to make their selection from the different
schemes submitted to them. They (the company) ought
not, therefore, to be surprised at the delay that had taken
place. At the same time, the directors could not deny that
they had hoped that they should have made greater ad-
vances than they had done, and that they would have been
able to lay before the shareholders and the public
something more distinct than they could at present submit
to the authorities in this counte-e , not in India. However,
they had every reason to believe that they were
favourable to the introduction of railways into
India, andi that they ( the company) stood in
a favourable position was evideut, from the
correspondence that had taken place between the Honour-
able the Eat India Company and members of their com-
pany. Otte of the principal reasons the directors had in
calling the present meeting was to have an opportunity of
communicating with their subscribers, and laying before
them a report of the proceedings up to the present time,
and to adopt the steps that were neeessaey to be taken.
They had been obliged to introduce a Bill into Parliament;
Baying no reasonable doubt as to the success of their under-
taking, they thought it right to obtain that incorporation which
was necessary. That Bill was then before the Parliament; it
had been read a second time. That was the position in which
they then stood, but before taking any further steps the di-
rectors considered that it would be right to give their
subscribers all the information in their power, and to
afford them an opportunity of making any observations
they might thick proper to make. It was not, perhaps,
necessary for him to add anything further, but to allow
the report to be read. Of course, when they had
obtained the decision of the • East India Com-
pany, they would then be prepared for the new
circumstances that might arise. He could express his firm
confidence that the undertaking in which they were engaged
would be carried out, and that it would prove a remunerative
speculation to the subscribers, and an incalculable benefit to
the public both of this country and of India.—(Hear, hear.)
Mr. Hurrox then read the report of the directors, from
which it appeared that after considerable difficulties they
'had succeeded in getting plans and sections completed. The
result of the allotment had been the payment on
75,678 shares, and the execution of the deed and the dupli-
cates on the bonds by the subscribers amounted to 60,043
shares. The total number of shares paid on in England was
64,700 and the subscription deed had been executed for 53,865.
The deposits paid in Bombay were 6,1781. The total
amount :of funds realised. was 22,1221. 3s. 6d. The
report, after adverting to the difficulties which were
encountered from the climate and other local cir-
cumstances, proceeded to state that data bad
been obtained for constructing a line of railway from Bombay
to Alleah, a distance of 1081 h miles, with an extension
of 36 miles, as far as Alhuse, in the direction of Shale-
poor; also an extension of 31 miles, as far as Purah
River, in the direction of Hoshungabad. That was a line
which would bring the grain,- cotton, he., and return the
salt of the coast, the piece goods and hardware of Manchester
and Birmingham. The estimated return the line would afford
would be a profit of 11 per cent. upon the cost of its
construction. Tice whole of the documents had been printed,
and were open to the inspection of the subscribers. The
-East India Company had expressed themselves favourably
towards their prejet-t, and they would see from the
report of Mr. Stephenson, that, while he differed
in
some points from the engineer of the corn-
;tarty, opinion of the - was most gratifying
The expenditure was 17,934/. 13,, 10d. The report having
referred in laudatory tennis to the services of the different
ollicers of the comiary. concluded by recommending the
shareholders to promote the. Bill before Parliament as being
calculated to ativat.ce their interests.
WILLIAIN propseti the adoption of the report.
Mr. \Vice. ox seeended the resolution, which was carried
ward ai• tit :ft.

G. W. Styr inn El. (late Member of the Council of
:Bombay). proposed a rery:ution to the effect that the directors
et the r7rlway stmt.!!! he requesed to continue their negotia-
tiens with the Bnard of the Hon. the East India Company
with a view to enable theM to bring their undertaking to a
satisfactory result. He had no doubt that the board to which
be alluded had every friendly disposition towards the
coany.
W. ANDERSON, Esq., seconded the resolution, which was
'carried unanimously.
The NORLF. CHAIRMAN proposed, in very flattering terms,
that the* name of Mr. Halton, who was oae of the provi-
sional committee, and who had acted as secretary to the
company, and had contribu!ed from the position he held very
much to their success, should be inserted in the report in
conjunction with the gentlemen whose names they had men-
tioned in so flattering a manner.
Mr. HAMILTON, M.P., seconded the resolution, which was
carried unanimously.
M r. Hatroar, in returning thanks, observed that a very
false impression existed with refeterlce to the probability of
the success of railways in India. Towns had grown up there
with a rapidity unknown to this p: rt of the world, and the
Hindoos were remarkable for the qu!ckness with which they
rode or drove; numbers of wealthynat ices might be seen in their
carriages, and these, no doubt, would prefer in many cases
travelling by steam. Besides, there were many wealthy
merchants in India who were ready to embark their capital in
enterprises. He conceived that the same motives that led to
the formation of railways in this country would operate in
India, and that the desire of making a profitable speculation
ca 4 telt there as well as here.
Thanks having been voted to the Noble Chairman and the
other directors, the meeting separated.

NEWPORT, ABEHGAVENNY, AND
kIEREFORD RAILWAY COMPANY.—(THIS
I)AY.)
The first general meeting of the proprietors of this com-
pany was held to day, at the offices of the company, No. 2,
aaoorgate-street, the Hoa. Capt. Ft zmaurice, in the chair.
The SECRETARY read the report, from which we make the
following extracts
"'The directors beg to state thit the arrangements proposed
in their circular of the 23c1 of December last, having been
readily acquiesced in, a large number of shareholders in the
Monmouthshire Railway Company were admitted into this
company. The proprietary has thus been materially
strengthened, and the registration, up to the present time,
consists of 377 proprietors, holding in the aggregate 22,180
shares of 051. each, with '2l. 10s. per share credited thereon,
out e 4.29,320 shares ot like amount, being the total number
antaorised to be issued under the Act.
"Under the Act of Incorporation, the Company was ern-
-powered to carry out arrangements entered into for the pur-
chase of the I,lanvihangel, Grosmont and Hereford Tram-
roads. These sales heving been ratified by the shareholders
in these respective companies, the first instalment of pur-
chafe motley has been paid to the Hereford Tram-toad
Company, and similar instalments are in course ot payment
Ito the other two companies. The balance of the purchase
:moneys (about 45,000), will be payable in March, 1848.
"This company is entitled to the revenue of the tram-
roads from October last • and the directors look forward to a
return of half the purchase money front the sale of the land
and plant included in the purchase. Great facilities will be
obtained, and much expense saveo, in the construction of the
Vie, by the acqui:itiork of this valuable property.
" Tue whole e f the maiik line of railway has now been laid
but by the engineer; and the directors have advertised for
the purtien ot the bee leetweee ntypool and Abergavenny,
where th- w,,rks are t4t: heaviest, and which will come-
queerly take the longest time in completion.
" directors made a c.,11 of 11. ios. a share, payable on
the Ist of this month, wilier, has been readily responded
and they confidently anticipate the early payment of the
whole call.
"lu conformity with the almost universal practice now
adopted by railway companies, the directors have thought it
night to allow ititere-t at the ;ate of 4 per cetv. en the depo-
sit, front the date of the Act; and they propose, fur the fu-
ture, to allow 5 per cent. k n the deposit and calls as they are
paid.
The CHAIRMAN then adverted to tome of the topics in the
report, are; put a resolution to the meeting that the report
should be adopted and circulated.
The Bon. H. lixox .econded the motion, which was
Una:rtimouely,agreed to.
The present directors were then re-elected; 7001. voted to
'them for their past services, and 8001. for their services
during the ensuing year.
Two auditors were also appointed, and the salary of the
secretary fixed at COM per annum.
SPECIAL MEETING.
The meeting was then made special, when the following
Mils were submitied lot the approval of the shareholders:—
A Bill fir amending the Newport, Abergavenny, ;and
:Hereford Railway Act, 1846, and to authorise deviations from
the line of the said railway, and fur making branches and
extensions therefrom:
A Bill 10 enable the Newport, Abergavenny, and Hereford
Railway Company, to extend their railway from the neigh-
bourhood of Pontypool to the Taff Vale Railway.
The CHAIRMAN briefly stated the leading objects of both
sills, which had passed the Standing Orders Committee, and
were now waiting the appointment of a Committee to in-
vestigate their merits, and concluded by submitting resolu-
tions strongly recommending the extensions to the adoption
of the shareholders.
The resolutions were unanimously agreed to.
This terminated the business of the meeting.

ME LONDON GAZETTE.
(THIS EVENING.)

Notice
is
herebERLMN
LORI) ciumn -----"aa"--"'"—
'S OFFICE, MARCH 16, 1847.
will ht,ld a
Drawing-room, e• Ystgiv"l, that her AI
the 27th
instant, at two t1ei00,..-jan4es's "lace, ollubjeasttu3r.day,
BEGuLA-rtoms - -. , -TA P.l: OWSittV AT ~r ,'
INC; • P.oo3l.—Tli e, Ladies who purpose '" r• kIUEENN DR A
jesty's Drawring•r“olii ate reque'stti°3o attending her M"- I. .
1i.c....16 bring With
in the Pre-
huge carts, with t•heir names them tiro
large
he left %villi the glicii':, page IbutYattu4ritten thereon, one
:111Li the other to be delivered " serice-chamber,
Chamberlain, who, will announce the name l toth the Lord
jesty. And those Ladies who are to be ii lier Ma-
bereby informed, it is absolutely necessary et.ileinted are
names, together with the names of the Ladiaet, their
are to present theta, should be sent in to Nvtir
Lord Chaznberlain's• cffiee, before twelve o'clock on 'Thor's!
Ar.r:l.,, , day the 25th instant, in order that the-y may be submitted
krltlieiC2Aegn's approbation ; it being her Majesty's coin-
mawirtiat, no presentation shall take place unless the name
of-the lady presenting, together with that of the lady to be
preseuted, shall appear on the card to be delivered to the
Lord Chatjuberlain, which names shall correspond with
those.elTictutly sent in to the Lord Chamberlain's-office.
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