The Sun.
London, England, 1840-09-04 00:00:00

_E'VENING EDITION!

BRISTOL and EXETER RAILWAY;

BRISTOL, SEPT. 2.--The usual half-yearly meeting
of the shareholders in the Bristol and Exeter Railway
took place this day in the hall of the Society of Merchant
Venturers, King-street.
The attendance was unusually great, the proposed
leasing of the line to the Great Western Company
having produced much opposite feeling amongst the
props ietary, and at one o'clock the chair was taken by
Frederick Ricketts, Esq., the President of the Board of
Directors, who, in opening the business of the meeting,
alluded to the various points touched upon in the
Directors' Report ; he said he was so satisfied of the
benefit that would result from the proposed lease, that,
in the expectation of its being agreed to, he had greatly
enlarged his interest in the undertaking, and had ad-
vised his friends and connections to do the same.
The Secretary, J. B. BADNAM, Esq., then read the
Directors' Report, which also included one from the
Company's engineer, Mr. Brunel. The finances of the
Company were stated to be in a more prosperous state
and the works in a more advanced condition. The
Directors had adopted coercive measures to compel the
payment of arrears, and the register was now cleared
of every improper name, and it was recommended that
2,793 shares should be forfeited (an average of 121. 4s•
per share having been paid on them). An agreement
to lease the line (subject to the approval of the rf°-
prietary) had heenfagreed to upon the following terms;
—The Exeter Company to complete the line to Bridg-
water by the Ist of June, and the Great Western to
pay for that portion a rental of 30,000/. per annum,sei
a farthing toll per mile for every passenger and ton
merchandise up to 12,000.000 miles, after which one"
eighth of a penny to be the toil. As the line is com-
pleted to Taunton, Wellington, and Exeter, the rent
to be increased proportionately, and also by, sums
amounting to 5,000/., with a fur: h r increase contingent
on the appointment of Dartmouth as a mail-packet
station. The term to be for five years after the colo-
p',etion of the entire line to Exeter.
W. SAUNDERS, Esq , read the acconnt to the 30th of
June, from which it appeared that the total receipts to
that period had been 541,704/. 45., and the expend
516,9391. 9s. 4d., leaving► x balance of 24,764/. 14s. 8a•
The Report and some other resolutions haying been
unanimously adopted,
E. DIVETT, Esq., M. P. for Exeter, rose to 111°11
that the proposed lease be adopted. He said he u";
so with a strong conviction that it was the mode bee'
calculated to carry out the objects of the Com Pail
without loss of time mid severe pressure on the Fr°7
prictors. His opinion was that the line, in conjunction
with the Great Western, would yield a return equo,.,ltt°
the London and Birmingham or Grand Junction. I°6
coaching eeturns showed a larger traffic than was
the London and Birmingham prior to the completion.%
the line, and believing that on its early comPlotTe
much of its prosperity depended, he would support tb
lease.

E. JONES. Esq., seconded the motion.
JoHN TYRREL, Esq., opposed the motion. He cop'
tended that their financial condition was improved •
that their works were progressing favourably ; and that;
as with their own resources they might complete on."_.
work their line, it would be a folly to hand over the
profits to the Great AVestern Con:pany.
A very lengthened and warm discussion then coil;
and the motion was put to the meeting. 1.11)°n t

show of hands being taken,
The CHAIRMAN said he was unable to say whetbedr
the amendment of Mr. Tyrrel was adopted or rejet" r
and a poll then commenced, which will °Jose at i°l2
o'clock to-morrow.