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

SOUTHAMPTON DOCK COMPANY

Yesterday a Halilyearly General Meeting of the
Shareholders of the above Company, was hell in their
rooms, Bishopsgatc-street.
JosETH LIGGINS, IJsq., took the Chair at ire o'clocl,7.
The SECRETARY having read the advertiscment call-
ing the Meeting,
The CHAIRMAN suggested to the Proprietors that as
the Minutes of the last Meeting were rather lengthy,
possibly they would be content to take them as read;
and be content with the Resolutions, founded upon the
proceedings, being read,

The suggestion was unaLimously adopt, !d and acted
upon.

The SECRETARY then read the Report, which was as
!ollows

REPORT.

The Report which the Directors have the pleasure to
lay before the Proprietors at their half-yearly general meet.
ing Kill, on the present occasion, be necessarily a brief,
though they trust not an In intc:esting, one.
With the exception of the greatly-advanced state of the
works, ample details of ‘A Ilia will he found in the annexed
Report from the engineer, the circumstances of the pre-
sent half-yearly meeting are very nearly an echo of the
last. Not one of the favourable anticipations then indulged
in has proved unfounded.
As was predicted in the Report submitted to the Pro-
prietors in August last, the recent decision of the Treasury
with respect to Dartmouth merely selects that port for the
embarkation of the mail-bar, instead of Falmouth as at
present ; but it does not in the smallest degree interfere
with the adoption of Southampton by the Mail Packet
Companies as their port of outfit and their home station.
One of these groat Companies, the Peninsular and
Oriental Steam Navigation Company, has already esta-
blishei itself at Southampton : its vessels in the Penin-
sular contract depart thence and return thither weekly ;
and the Company's steam ship, the Great Liverpool, em-
ployed under their Indian contract, as regularly trades be-
tween Southampton and Alexandria.
The Royal Mail Stem Packet Company, contractors
for the mail service between Great Britain and the West
India Colonies, the Gulf of Mexico, and Coast of South
America, and between those places and North America,
arc confidently expected to do the same. It may he suf-
ficient to state, that your Directors, and the Directors of
that important Company, are at this moment negotiating
terms.

The considerations arising out of these prospects of an
immediate and extensive trade, not originally contem-
plated, have induced your Directors, in the exercise of
those enlarged views which the magnitude and ultimate
success of the undertaking demand from them, to review
the whole of their plans and preparations, so as to allow,
not only without loss, if taken in time, but with positive
advantage, of the adoption of any improvements which
may be found practicable, either in the design or construc-
tion of the two Docks which are to put the success of the
Company to the test.
The prospects of coming trade which are opening to
the Company on every side have prompted them seriously
to consider whether the extent of the accommodation
with which it was proposed to commence could reason-
ably be considered commensurate with the trade to be
expected; if not, it became obvious that to provide an
increased' accommodation would bo much more econo-
mically as well as prudently done in the original construc-
tion, than by subsequent alteration.
The Directors satisfied themselves that such increased
accommodation was necessary, and would be speedily
found indispensable for the extent and the security of the
Company's trade, and they at once resolved on enlarging
the estimate, as regards the Tidal Dock, in order to ac-
complish the extension so required.
The original specification and estimate of 119,0001 , for
the construction of this Dock, contemplated for its eastern
side a sloping embankment only, instead of a Quay-wall
available for Dock purposes. It was conceived that in the
first instance the accommodation offered by the re-
maining sides of the Dock would be sufficient for its early
wants, and thus a considerable outlay be deferred. The
Quay-wall, however, which it was always intended should
form the eastern side of the Dock at some future period,
the Directors have now found it expedient to make part
of its primary construction ; and it is proceedingly accord-
ingly. This improvement, however, of the substitution of
a stone Quay-wall for earthern sloping embankment on the
whole of the north-eastern and south-eastern sides of the
Tidal Dock, adds but 16,200/., or less than one-seventh,
to the original estimate, whilst it enables the Company to
receive and profit by upwards of one-fourth more trade.
Another improvement, which will be found true economy
in the end, is, that instead of Timber Quays for the Dock
entrance, as at first estimated, those quays will, in com-
mon with the rest of the eastern side, be now of stone.
The addition on this item is 6,4601. ; and the almost unin-
terrupted working in and out of first-class steam-ships to
which these Quays will shortly be exposed, renders such
an improvement in their construction indispensable.
With even these two additions, the Tidal Dock w:

still be by far the cheapest Dock in the kingdom, whilst
its attractiveness will be unsurpassed.
The Directors would now advert to a point in con-
nexion with the outlay of the capital of the Company,
which seems to have been in some quarters misconceived,
In the Report for August, 1839, it was stated that " the
Company will be enabled to open their first Dock when a
sum not exceeding 251. per share has been paid up ;"_and
again, in the Report for February, 1840, that 201. per
share would do it.
The first of those calculations, 25/. per share, gives, on
the Company's capital, 175,0001. The second, 20/. per
share, in addition to the 81. previously paid, even upon the
number of shares then actually paid on, viz. 5,450, gives
152,600/. ; while the estimate for the Tidal Dock, and the
dredging of the lichen river together, was but 129,000/.
With reference to the dredging of the lichen, that work
has been contract d for, and is now proceeding in the
hands of a responsible contractor with duo activity.
If a larger proportion than 28/. per share in the whole
be called ur, as will be the case, during the present year, it
is not because thet amount proves insufficient for the first
Dock, but because the Directors see abundant proof that it
will be for she best interests of the Company to make all
possible progress with the second or Close Dock also, cal-
cud .ted as it will be for the reception of that description of
trade which will yield to the Proprletors the largest return.
With the same object, and if possible to relieve the Pro-
prietors from the burthen of furnishing the entire share_
capital as rapidly as the Act allows, the Directors centem-
plate the alternative of raising that portion of capital which
the Act empowers them to take up at interest—namely
150,0001.—0 rs coesiderable portion of it, by loan, during
the present year ; and the sense of the Proprietors will be
taken thereon at the present Meeting, by a resolution which
will be submitted, empowering the Directors so to take up
money, if they shall deem it advisable.
The Directors desire to touch as lightly as possible on a
subject which they hope now belongs only to the past;
they congratulate the Meeteig that 1 tigation with their
felloe-shsreholiers for payment of calls has ceased.
The f Hewing is the Eneincer's Repoit :
" Beaufort-buildings, London, Feb. 15, 1841.
" To the Directors of the Southampton Docks.
" Gerolsnien,—ln my half-yearly Report to you of last
August, I described :he progress of the works then in
hend for completing the entrance and southern side of the
Tidal Dock next summer, or Ills whole of the Tidal Dock
at the rod of this year.
" Thsse works since last August have been carried on
very losourably. It alp aced to me, as they proceeded,
decidecly the preferable plan to complete the whole of this
Dock wider one operation. I therefore recommended
this to you, and have carried on my works accordingly;
in the pre g. ess of %thick my first object was (having al-
ready enclosed from the Tideway the ground of the
Close Dock) to encl;se also the whole of the ground for
the Tidal Dock.
" The mode of effecting the enclosure of the Close
Dock ground was wholly by embankments; viz., by per-
manent embankments on its west srn and southern sides
(ulternately to become a part of the Dock Quays), and a
temporary embankment on the eastern side.
The enclosing of the ground of the Tidal Dock was
also by permanent embankments on its northern side,
by embaiikaielit and coffer-damming on its southern side,
and on its eastern side by coffer-damming alone. The
soil of these umbankmeet; to be obtained from the exca-
tier) for the Close Dock.
" The litter enclosure was proceeding very substan-
tially, when, on the 13th of last November, its prcgress
was arrested for a short time by the occurrence of a
severe storm from the southward, visiting the English
Channel and Southampton, and occasioning a most extra-
ordinary rise of tide, the he:ght of which exceeded, by
six inches, the previous and well-remembered storm of
November, 1824.

The damage thus occasioned to the Dock works was
much less than might have been expected ; it consisted
chit fly of a breach in the temporary embankment on the
eastern side of Cm Close Dock, by which the site of the
latter Dock Was again laid open to the tideway, and the
supply of sad from that source fur embanking the' sides of
the Tidal Dock cut cff. The injury otherwise sustained
by the works was inconsiderable, the coffer-dams and
piling remaining firm, and the outer emankments of both
Docks being cely partially f etted by the heavy seas that
rolled over there. The contractor's materials and machi-
nery were well secured, and very little loss was conse-
quently sustained by them.
Under the foregoing circumstances the question arose,
whether to repair this breech in the temporary embank-
ment on the eastern side of the Close Dock, which was
destined to be altogether taken away when the enclosure
of tire Tidal Dock should be finished, or whether I should
at once remove the remainder of this temporary embank-
ment, and use its soil in the work of enclosing the Tidal
Deck ; bet I felt no hesitation in adopting the latter
course, and in proceeding, with the aid of coffer-darn-
mirg, to enclose the whole of the Tidal Dock ; and I have
now the satisfact;on tr state, thi.t the entire enclosure of

it was completed on the 28th January last, which being
done, embraced at the same time the final enclosure of the
ground for the Close Dcck.
The effects of the storm were therefore, I repeat, of
very trifling inconvenience and less; and although so
large a number cf men were exposed to its violence, the
whole of them escaped unhurt.
It remains for me now to carry out the work of execu-
ting the Tidal Dick, the excavation of which is already
in progress. Materials of stone, bricks, lime, and timber,
are provided and agreed far to a great extent for the con-
struction of the Quay-walls. Five steam-engines and
other mechanical means, as well as extensive horse-power,
are also being established for carrying out this work, and
it is my confident hope and expectation that by September
next the Dock will be excavated, the entrance walls, as
also the Quay-walls of the south-eastern, southern, and
south-western aides will be completed, and the remainder
of the Quay-wall; built from their foundations up to neap
tide low water mark; or (which I should much prefer)
tLe whole of the Dock may be completed by the end of
the present year.
The Dredging of the River Itchea is in full opera-
tion, and is proceeding very satisfactorily.
Upwards of 600 mon arc ttow employed on the works ;

but this numter will be more than doubled as the spring
season advances.

" I remain, Gentlemen,
" Your obedient and faithful servant,
" FRANCIS GILES
. .

Much error havirg prevailci with the public in refe-
rcne.! to the depth of water at Southampton, t're Directors
felt it their duty to open a correspondence on the subject,
of which they subjoin copies ; this correspondence they
caused to be published, and they trust it will have effec-
tually set the question at rest.

In accordance with a provision of the Company's Act,
four of your Directors now go out of office. The four io
retiring are Mr. Liggins, Mr. Cruikshank, Mr. Burt, and
Mr. Hill. They arc eligible, and offer themselves, I.r re.
election.

On behalf of the Directors,
JOSEPH LIGGINS, Chairman.
Southampton Dock Office, London, Feb. 18, 1841.
The Secretary also read the following :
ABSTRACT OF RECEIPTS AND PAYMENTS,
From the commencement of the undertaking to 31st
December, 1840.
xEcErpTs,

Shares. Per Share.
Deposits on 6,610, at 21. 10s. £16,525 0 0
ht Call on 6,181, at 21. lOs
2d Call on 5,635, at 31 16,905 0 0
3d Call on 5,543, at 5/.
4ch Call on 5,302, at 5/.
sth Call on 4,431, at Si,
Interest on Calls in arrear
Interest and Profit on Exchequer BUN 384 19 2
Interest from Bankers 2
Produce of Sale of Fixtures and Fittings
of the " Royal Gloucester Baths," at
Southampton
Fees

226 11 0
26 18 0

£126,552 12 4

PAYMENTS.
Law and Engineering Charges, Parlia-
mentary and other expenses incident to
the establishment of the Company £5,900 19 5
The Corporation of Sonthampton for the
Dock Land (208 Acres) 5,000 0 0
Fur the Interest of several persons in cer-
tain Oyster Coves situate on the Dock
Land
For the Leasehold interest of the late Wm
Lintott in the Dock Land
The Lessees of the " Royal Gloucester
Baths," for their Leasehold Interest (in
full) ...
Purchase of Stone in the Osborne Quarry,
and of Soil and Timber at Woolston Cliff,
as materials for constructing the Works 2,371 5 0
Directions, from 19th May, 1836, to 31st
December, 1840.
Engineering
Works of Survey, Boring, and other preli-
minary operations
The Contractors on account of work done
and materials supplied
Office Expenses, salaries of Secretary and
Clerks, Postage, Advertising, Agency,
and Miscellaneous disbursements
Law Charges
Travelling Expenses
Stationery and Printing
Vote of General Meeting in aid of reli

100 0 0

400 0 0

gious instruction to the Dock labourers 50 0 0
South Hants Infirmary; first instalment of
a Life Subscription
Half-yearly Interest on Capital
Assignees of Messrs. Wright and Co., ba-
lance of deposit accuunt

Invested in Exchequer Bills
3,000/.—cost £3,034 10 0
Balances and Securities in
hand ... £12,186 12 3
Less Accounts
outstanding
and checks
uncleared to
this day ... 2,393 13 8

9,792 18

113,725 3 9

12,827 8 7

X 126,552 12 4

The CHAlRMAN—Gentlemen, the question I have
now the honour to submit for your consideration is,
that the Report which you have now heard read be re-
ceived and adopted, and that it be printed and circu-
lated amongst the Shareholders. But before I put that
question to the vote, I must state that it is my anxious
desire, and that of all my colleagues, that every Pro-
prietor should have an opportunity of asking any ques-
tion that may in his judgment elicit any further infor-
mation respecting the very interesting matter contained
in the Report ; and I will take this opportunity of
stating, both for myself and my colleagues, that it is
with the utmost pleasure we meet you at all times, and
that pleasure is heightened the nearer we advance to
the completion of our vast undertaking—the more we
approximate to the happy season, when it will be in our
power to make you some return for the capital you have
expended. It will be in the recollection of many Pro-
prietors present, that at a previous meeting a Pro-
prietor stated that he had been down to Southampton,
but he could see nothing partaking of the form or shape
of a dock. I do not know whether that Hon. Pro-
prietor is now present, or whether he has been down
lately or not, but I can affirm that now it will be no
longer a matter of surprise that nothing has been done,
but that it will be a matter of much surprise to all that
so much has been done in the time which has expired. I
am happy to have it in my power i.o congratulate
you upon the firmness and stability which attaches to
your works so far as they have gone. Most of the gen-
tlemen present will remember that in November last
they were submitted to the most severe test that could
have entered into the contemplation of any human
being. In that month one of the most severe gales
which has visited our coasts for many years assailed our
works, and I feel perfectly justified in asserting that such
was the effect produced by the fury of the elements—
such the appalling scene that nature then exhibited, that
it was enough to have appalled even the stoutest heart ;
however, Gentlemen, the result showed that our works
were as firm as a rock, and bid defiance to the war of
the elements.—(Hear, hear.) Many unfounded ru-
mours of destruction went abroad respecting our works,
and I am happy to ease the mind of any gentleman who
may not have seen our denial of the facts ; and I cannot
permit myself to pass from this part of the subject with-
out declaring my opinion, and speaking in the presence
of my colleagues, theirs also, of the skill displayed by
our engineer in the making of his plans, and the ability
with which he has carried those plans into effect. Ido
not hesitate for one moment in saying that the result of
the trial to which his works have been put has shown
that he is fully entitled to the respect and confidence of
the Compen.—(Cheers.) It is also very gratifying to
find that after such a severe test as our works have un-
dergone, that the contractors under him have performed
their duty most faithfully and honestly, and that in place
of having to lament the destruction of any portion of our
works, we have the gratifying fact to announce that no-
thing has been done that will lead to any amount of
expense that can possibly be ascertained—indeed, I
have no hesitation in saying that our works are
now in a better position than if the storm had not
raged and expended its force against them. So
far from being prejudicial to us we base rather de-
rived some advantage from it ; we hare derived from it
some practical information which we can apply in our
future proceedings, and I will take upon myself to say
that the works are now in a better state than if' that
event had never occurred. You are quite aware that
reports hate been drawn up from time to time by your
engineer, and that these reports have been approved
and confirmed by the reports of other eminent engi-
neers. I reed only mention the names of Cubitt and
Mylne. These reports, however, he might have looked
upon with suspicion, emanating as they did from your
Directors. But, gentlemen, fortunately for us another
Company has been established since we came into the
field, and they being likely.to use our Docks were natu-
turally and properly very anxious t 9 have our st:lte-
ments and the reports of our engineers confirmed by
one selected by themselves. They appointej an engi-
neer, and required him to make a special Report upon
the eligibility of our Docks for the purpcses of
the Company which he represented. I regret much
that I am not permitted to lay that Report
before you, because I am perfectly sure that if I had
that permission, it would have fully confirmed and esta-
blished the reports made by your own engineer, and
have increased your confidence in him. No doubt can
be entertained for one moment of the independence and
honesty of the gentleman to whom I allude. I have
only to mention the name of Srneaton to set that ques-
tion at rest. Although I cannot officially submit that
Report for your inspection, I may take upon myself to
say that it fully and in every part confirms the Report
of your own engineer, and he says that our Docks will
deo
ifil.te,tehGres Mailloeyymaoleun7Packetkaet
,uuppoocnno
my
myself
no(Ls
state
be the be.t situation in England for the home station
bu suttS tltert'wriel
ttah
l
that Mr. Sme iton has so reported to the Royal Mail
Steam Packet Company. You are all aware that we
have been for a long time negotiating with that Com-
pany, and I certainly did expect to have been abl to
congratulate you upon its conclusion. [Tire Secretary
put a document into the Chairman's hand.] Gen-
tlemen, here is a communication put into my
hands this moment from that Company. I have
not yet read it, as it has arrived since the commence-
ment of the proceedings. You therefore get the infor-
mation it contains as early as your Directors. (Ile
then read the note, which was from the Secretary of
the Royal Mail Steam Packet Company, and sayinz,
that that Company had selected Southampton as their
home station. This announcement was received Ivith
cheers.) I beg to congratulate you, Gentlemen, upon
this most gratifying result of our labours. Allow me,
for a moment, now to allude to that statement in the
Report, which relates to the increase in the expendi-
ture upon the Tidal Dock, above 119,0001. In the
discharge of those duties, which you have delegated to
us and in the exercise of our discretion, and acting for
the best interests of all concerned, we felt ourselves

obliged to deviate from our first plans. You are
aware that the 119,000/, was the estimate lo the