The Sun.
London, England, 1847-02-10 00:00:00

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LONDON and GREENWICH RAIL-

WAY COMPANY.

in taking the

The account was then read, by which it appeared that
the interest upon bonds and preference shares was 11,40'1.
10s., the property-tax was 2071. Is. 4d., salaries 265/ Bs. ;
which, with other expenses, amounted to a gross sum of
11,958/. 18s. 4d., leaving a balance of 6,9961. 10s. id.
The CHAIRMAN then said that it would now be his duty to
propose that the accounts which had just been read should
be printed and circulated amongst the subscribers.
Mr. PERRY said he felt pleasure in seconding the resolution
they had just heard, but at the same time be thought it right
to call the attention of the meeting to one circumstance;
before doing so, however, he would say that they would not
have many difficulties in winding up their affairs in future.
Their directors might, in the opinion of several of the share-
holders, be fairly and safely reduced to three.
The SECRETARY explained that it would be necessary to
have live, and he believed that the three directors cuuld not,
by any possibility, discharge the affairs of the company sa-
tisfactorily.

Mr. Pity, as an individual, was perfectly satisfied.
There was no person, from the circumstance of his having
been an auditor, who had had a better opportunity of knowing
how the affairs of the company had been conducted; but he
had brought forward the present question upon the sugges-
tion of some of the shareholders. It might be necessary to
carry out the affairs of this company effectively, that there
should be five directors; but then three of the present di-
rectors might remain in office, and two others be appointed,
honorary directors. These directors might be paid a small
fee for their occasional services.

The Cimia:stax, in a few words, acknowledged their re-
election, ar.d held out a strong hope that the traffic would
still go on increasing, and, under the exertions of the board,
he was convinced they had nothing to do but to go on and
prosper.

SPECIAL MEETING.
The shareholders then resolved themselves into a speci..l
meeting.
The CHAIRMAN ,said he was ashamed to say that there
were no less than thirteen Bills.—(Hear and Laughter.)
The first was a Bill to enable the Eastern Counties Railway
Company to make a railway from Woolwich to Spalding,
and to construct docks at Wisbeach in connexion therewith.
It would be twenty-one miles in length, and the estimated
cost was 325,000/.
The Bill was approved of.
The CHAIRMAN said the next Bill was to make a liRO from
Spalding to Newark, thirty-eight miles in length. The esti-
mated cost was 620,0001.
A PROPRIETOR asked what was the aggregate capital of
the thirteen Bills ?
The CHAIRMAN replied, five millions.—(oh !oh !)
A PROPRIETOR wished to have some explanation upon the
manner in which it was intended to dispose of the York Ex-
tension shares.

The CHAIRMAN replied that all the A shares would be
called up before April, for the construction of the St. Ives
and Wisbeach line, and B would be devoted to the purposes
of the Maldom and Witham line. C and D would be ap-
plied to the purposes of such lines as Parliament might
grant in the present session. The shares would carry divi-
dends so soon as the lines to which they were applied came
were
into working operation. A pledge had already exhausted been given that
until these York Extension shares,no further
creations would be made. When
A PROPRIETOR thought it would.nexhaust the
lhoua
h Counties' i
betteres' stock.to
hose shares were paid
up, they would become Eastern
calls of A before any were made B.
A Bill to authorise the purchase, by the Eastern Counties
of the NorthWoolwich Railway, and the
The Bill was then approved of, as wore also the following
Railway Company
and the construction of docks in
.
pepper warehouses and 'wharfs of the East and
lease of the
connexio • n with the No
the Eastern Counties Railway Company
pirliyiVoolwich Railway.
einStvetonco andun
tcounty
o f PeterboroughN o r
th a nvßail-
way, in the parish to make a rai
to the Ambergate, Nottingham, and Bolton Junction Rail-
way, near Folkinghani.
A Bill to enable the Eastern Counties Railway Company
to enlarge their London and Stratford stations, and to amend
some of the provisions of the Acts relating to the Eastern
Counties Railway Company.
A Bill to enable the Eastern Counties Railway Company
to make a railway from the Eastern Counties Railway, at
West Ham, to or near the Victoria Park, with Branches to
the East and West India Docks and Birmingham Junction
' Railway.
A Bill to enable the Eastern Counties Railway Company
to make a railway from the Wisbeach, St. Ives, and Cam-
bridge Junction Railway, in the parish of Somertham, to the
town of Ramsey.
A Bill to enable the Eastern Counties Railway Company to
make a railway from the Eastern Counties Railway, near
Cambridge, to the Hertford and Ware branch of the Northern
and Eastern Railway, with branches.
A Bill to enable the Eastern Counties Railway Company
to make a railway from the Eastern Counties Railway, near
Cambridge, to the Bedford and Bletchley Railway, at or near
Bedford, with branches.
A Bill to enable the Eastern Counties Railway Company
to make a railway from the Northern and Eastern Railway
at Hertford, to the Great Northern Railway, near Hitchin.
A Bill to enable the Eastern Counties Railway Company
to make a railway from the Eastern Counties Railway, at or
near the Forestgate station, to Southend, with branches.
A Bill for making a railway from the Maldon, Witham,
and Braintree Railway, near Braintree, to Halstead.
The CHAIR3IAN said the next was
A Bill to enable the Eastern Counties Railway Company
to na.,,.ke a railway frrina the N.:rthcro ar.,l Eastern Pail7vay,
at lottenbam, to or near Guildford-street, with branches to
the East and West India Dock and Birmingham Juuctiou

The half-yearly general meeting of the shareholders of
this company Nva. held yesterday at their offices, No. 10,
Coleman-street, City.
Mr. SIeADBOLT, president of the company, . •
chair, said that there would be no report submittea
the meeting, and that all that would be done would be to lay
the accounts before them.

Mr. LEVY said their object should be to have a few re-
spectable gentlemen to manage their affairs. He thought
that five was as small a nnmber as they could have to do
that properly. Now, Considering the small amount those
directors demanded for their labour, he thought that such
could not be reasonably objected to.—(Hear, hear.) It might
be supposed that because the Eastern Counties Railway had
leased the line that there was nothing for their directors to
do ; but they should recollect that circumstances and difficul-
ties might arise which would render necessary the active in-
terference and superintendence of directors.—( Hear, hear.)
Mr. PERRY said he should repeat what he had already
stated was merely the opinion of others, and not his own, and
also that, as an individual, he was perfectly satisfied with the
management of the company.
Mr. MAUBERY stated that, looking at their accounts, they
found that the directors had acted as bankers to the com-
pany, and that they (the company) could not carry on a
concern like theirs at a smaller expense than had hitherto
been incurred through the able management of the directors.
The resolution was then put from the chair and carried
unanimously.
Messrs. Wilson and Deputy "Corney were then re-elected
directors, which was acknowledged by Mr. Corney on his
own behalf and that of Mr. Wilson.
Mr. PERRY then proposed a vote of thanks to the Chairman,
which was seconded and carried unanimously, and the
meeting separated.

EASTERN COUNTIES RAILWAY.
The usual half-yearly meeting of the proprietors of the
Eastern Counties Railway was held yesterday afternoon at
the London Tavern„ in Bishopsgate-street; Mr G. Hudson,
M.P., chairman of the board of directors, in the chair. The
meeting was made special,i-for the purpose of agreeing to
certain new lines and extensions.
In their report the directors announced a ilivideed, for the
half-year, ending the 4th of January last, of 10s. per Aare
of 14/. 16s. each on the consolidated stock of the Eastern
Counties Railway Company, and in proportion on the share
capital of the Northern and Eastern Company. The gross
receipts from traffic showed an increase over the correspond-
ing half of last year of 69,946/. 12s. 6d. The past season had been
unusually trying to the permanent way and works, notwith-
standing which, their state throughout was very satisfactory.
The cost of maintenance for the past half year, included in
all 184* miles, 136 of which were now in the com-
pany's own hands, and the remaining twelve miles were
maintained by contract. The increased length of road main-
tained during the last six months amounted to fifty-nine
miles, viz. from Stortford to Brandon, and from Stratford to
Blackwell, besides the second line of rails from Broxbourne
Junction to Hertford. Taking this additional mileage into
consideration, it would appear that a clear saving of 4,035/.
Is. 7d. had been effected, as compared with last year. The
double line of the Hertford branch had been completed at a
cost of 1,500'. under the estimate, and the double line of the
Stratford and Thames Junction Railway would be ready for
opening in the course of a few days. The new station at the
Stratford Junction was now completed and might be opened
in the course of a few days. The stock of engines on the line
on July 4th, 1846, was fifty-eight passenger and thirteen
goods engines. Received during the last six months, four
teen passenger and five goods engines, making the pre-
sent stock amount to seventy-two passenger and
eighteen goods engines ; sixty-two of these were
in working condition, and twenty-eight under repair.
The branch from Ely to Peterborough was not opened for
general traffic until the 14th of January last, owing to slips
having occurred at two points, that required the greatest
energy and a large additional expenditure upon the part of
Mr. Peto, the contractor, to conquer. Notwithstanding this
Belay, the line had been delivered up for traffic in very com-
plete working order ten months earlier than Mr. Peto was
bound to do by his contract. The construction of the lines
between Cambridge and St. Ives, and St. Ives and Wisbeach
was let, in September last, to Mr. Peto, and was proceeding
with rapidity. The directors confidently anticipated that
the portion of the latter line between March and Wisbeach
would be ready for opening on or before the Ist of May,.
and that the remainder of these lines would be completed
in the autumn of the year. A direct communication would
then exist with Huntingdon, by means of the Ely,and Hun-
tingdon Railway. The North Woolwich Railway and Pier
would be completed for traffic early in the ensuing summer.
Sins the last half vearlp MaVtionn', r -and iAartit';eZ
Railway, a short but valuable line. connecting the rising
port of Maldon with the main lines of this company and the
central portions of Essex. The works would be let on the
17th of this month for completion in the early part of 1848.
The company was in possession of the greater part of the
property required for the enlargement of the Bishopsgate
station, and the contract for its construction would be forthwith
let. In consequence of the increase of traffic, both in passengers
and goods, which has lately taken place, the directors
bad resolved to seek for powers in the ensuing Session of Par-
liament to obtain four additional lines of railway between
the Mile-end and Bishopsgate stations. For the purpose of
carrying out several objects, it was intended to make payable
the first call of 21. 10s. per share upon the B. quarter of
the York Extension shares in two instalments, of which one
would be due on the 18th of March, and the other on the 18th
of May next.
The CHAIRMAN, in moving the adoption of the report, said
he felt it was unnecessary to dwell at any length upon the
present affairs of the company, because the report supplied
every information upon the subject, while the shareholder.
were well acquainted with the topics connected with their
future prospects. He could hold out no hope of a reduction in
the working expenses but there was every prospect of their
traffic increasing, without adding to their working expenses.
He had found, since his connexion with the Eastern Counties
Company, that a line with a metropolitan terminus could not
be worked so cheaply as the lines of the north, but still it
was gratifying for him to know, that although the expense
was greater than that of any northern line there was no
line under his management better or more efficiently worked.
With these few remarks, helbeg-ged to move the adoption of
the report, and that the dividend be paid on and after the
23d inst.
A PROPRIETOR said he had seen it announced in a provin-
cial paper that their London terminus was to be extended
on to the site of the Middlesex House of Correction. He
regretted that this subject was not alluded to in the report.
The CHAIRMAN replied, that when they came to the special
business of the day he should be ready to give the Hon.
Proprietor every information upon the subject.
The resolution was then agreed to.
Messrs. Hudson, Gibbs, Harrison, and Hood, were re-
elected directors.