The Sun.
London, England, 1841-02-19 00:00:00

state, that if I had been put. to treat with the Coravany
on behalf of some other Company, I should have been
:11(1 to have given five thousand pounds for an azre of
that land.—( Hew., hear.)
Mr. HE ATIIFIELD—WitiI regard to the land, there
was so decided an opposition from interested motives,
thLt, bat for the most detcrrraned perseverance, eye
should never have obtained it. The most strenuous
opposition was made to us at Southampton, but
we got the Imd for the paltry sum of 25,000/. ; but
another battle was then to be fought aganist the Trea-
sury. namely, whether the arrangement should be con-
firmed or not ; but I believe that in our first interview
with Mr. Spring Rice, we had the satisfaction to hear
from him that a minute was made, and so we got the
best undertaking in the country.—(Cheers.)
The resolution, that the Directors be empowered to
borrow at interest the sum of 150,000/., part of the
capital provided by the Act, was then put and carried
unanimously.
Mr. M‘LaREN—I wish to remark that this sum is
not part of the shares, but in addition to the calls.
The CHAIRMAN—Yes. The calls may not be
wanted, but it is in addifon to them.—(Confusion.) My
advice to the Proprietors, speaking, as I thought, in the
Queen's English, was to be prepared to meet three calls
in the present year, and 51. on each call ; I also stated
that the 150,0001. must be taken in addition to the
calls, but that if it were borrowed it might be in our
power to postpone the calls until next year.
Mr. HEATIIFIF.LD—I am sorry to trespass so fre-
quently on the attention of the meeting ; but Captain
Ward has furnished me with a return of the custom
duties paid at Southampton, which, with your permis-
sion, I will read. The amount in 1838 was 52,0001.,
in 1839 61,000/. and in 1840 77,000/., thus presenting
an increase of 50 per cent. on the revenue.—(Cheers.)
I am oae who look forward to the possibility of water
communication between Southampton and the river
Thames ; if a canal were made from Andover to Basing-
stoke, we would have a complete water communication.
I do not propose to make that canal, but it is important
to know that it may be the means of facile commu-
nication.

A PROPRIETOR inquired how many of the 6,010
shares had been declared forfeited ?

The CllatitataN—You will find it in the Report ; if
you have not a copy of it, the Secretary will furnish
you with one.

A PROPRIETOR—I wish to know whether any pro-
ceedings will be taken to get in the fourth and fifth calls.
The CHAIRMAN—The Directors will feel bound to
take every means to obtain payment of those arrears ;
and if they feel such to be their duty, they will submit
to the Proprietors, at a future meeting, the propriety
of declaring them to be forfeited.

A PROPiIETOR—Have you not already stated that
two Steam Packet Companies bring their packets iato
your Docks?

The CumamAN.—No, only one at present ; but
we are looking forward to another. The Peninsular
and Oriental Steam Navigation Company have made
arrangements with us for one year.
A PROPRIETOR-With reference to the sheds, you
state that it is your intention to construct them in a

temporary manner. Would it not be a great saving to
construct them as they are intended to remain ?

The CHAIRMAN—I did not say they should be
erected in a temporary manner. They will be erected
most substantially, but only occupied temporarily until
warehouses are completed.
A PROPRIETOR—WouId it not be better to erect
warehouses at once ?
The CHAIRMAN—The Revenue would not be satis-
fied by our constructing bonded warehouses in an open
dock. There would, not be that security for the. Rev-
enue which the Revenue always require.
Mr. HEATIIFIELD—J thought we might build
bonded warehouses anywhere.
The CHAIRMAN—Yes, but then we must give special
security.

Mr. HEATHFIELD—And independently of that
:here must be sheds.

Mr. MADDEN—What portion of port dues are
claimed for packets that come into the port of South-
ampton ?
The CHAIRMAN—You will find in the Act of Par-
liament the mode in which these payments are made. I
cannot exactly say what is the amount ; for suppose I
were to say it was 1,000/. this year, I hope before long
it would be 5,000/. a year.

A DIRECTOR—They actually at this moment pay
double dues for want of the accommodation which the
Docks will afford.

The CHAIRMAN—I hope Mr. Madden will leave the
room satisfied that he has been " entrapped" into a pros-
perous undertaking.—( Hear, hear, and laughter.)
Mr. MADDEN—It will be a long time before I shall
think so, or forget the usage I have met with.
Mr. DEYERE—I feel so much gratified at the expla-
nations that have been given that I cannot resist pro-
posing that the thanks of this Meeting be given to the
Directors. lam sure if they have not given satisfaction
to ono or two gentlemen they have given satisfaction to
the great body of the Shareholders. I therefore beg
leave to propose that the thanks of the Proprietors be
given to the Directors for their services during the pre-
sent year.—(Cheers.)
Several gentlemen rose simultaneously to second the
resolution, which was carried unanimously and with ac-
clamation.

The CHAlRMAN—Gentlemen, on behalf of myself and
my colleagues I beg to offer you my unfeigned thanks
for this renewed mark of your confidence. We have
so endeavoured to shape our course as to be entitled to
it, and lam glad to find we are not disappointed. I as-
sure you that if the course we have pursued has bcen
such as to give you the satisfaction which you have ❑ow
manifested, we pledge ourselves to continue that course,
and to deserve your confidence still more.—(Cheers.)
The Meeting then separated.