The Sun.
London, England, 1847-08-30 00:00:00

LONDON, MOND Ay EVENING-,

THE THAMES HAVEN DOCK AND

RAILWAY COMPANY.

The half-yearly general mei,ti:.g of the proprietors
of this company was held on Saturday, at the Guilihall
Coffee-house, Gresham-street. IV. Chadwick, Esq.,
chairman of the company, presided.
After the usual preliminaries,
The SECRETARY read the report, which stated that
the company was making purchases of land required
for the dock and railway. The cottages requisite for
the labourers and mechanics
employed on
the works had been put in repair, and had been
let at a remunerative rate to respectable tenants.
It also stated that such a vigorous opposition
was offered to the Bill for the branch line from
Ilford to Southend, introduced by the Eastern Coun-
ties Company, that it was not carried last session.
From the financial statement, it appeared that the re-
ceipts amounted to 29,1361. 4s. id., and the expendi-
ture to 8,2191. 3s. ld., leaving a balance in hand of
20,917/. is. _ _

The CHAIRMAN was happy to say that it would not
be necessary for the directors to make snore than one
call this year on the company. They had purchased
the Oil Mill Farms and the adjoining lands, in the
parishes of Fobbing and Corringham, at prices almost
unequalled for railway purposes. He believed the
amount agreed upon was 251. per acre, and it would
be necessary to construct a dock of 10 acres only.
With respect to the Eastern Counties Company, they
certainly did not succeed to the full extent of their
wishes; but, as the report stated, they had prevented
that company passing their Bill last session. As they
were a young company, it was thought advisable to
enter into a treaty with the Eastern Counties Com-
pany, but as the negotiations were still pending, they
must excuse their going into details at present. He
would move that the report be received and adopted.
After some conversation relative to the claims of
Mr. Hennick on the company, and to the relinquish-
ment of certain shares, the resolution was put and
carried unanimously.
Thanks were then voted to the Chairman and the
other directors, which were acknowledged by the
Chairman.
The meeting then separated.

LONDONDERRY and COLERAINE

RAILWAY COMPANY.
The fifth half-yearly meeting of the shareholders
of this railway company took place on Saturday, at the
company's offices, in Church-passage, Guildhall, for
the purpose of receiving the report of the directors,
the statement of the accounts of the company, and
also for the transaction of the ordinary affairs of the

•
company.
J. G. Frith, Esq., took the chair shortly after
twelve o'clock. _

The usual preliminary proceedings having been
gone through, and the minutes of the last meeting
having been confirmed,
The SECRETARY read the following report, which,
after a short discussion, was adopted unanimously :

" Your directors have to report, that since your last
half-yearly meeting, your works have made very con•
siderable progress, though not equal to what might have
been expected under more favourable circumstances, for
although the progress has been equal to the means pro-
vided by the shareholders, yet, in consequence of the
falling off in the payment of the late calls, the number of
men employed thereon has not been increased to the ex-
tent they might have been.
" The continued delay in completing the powerful
dredger, by means of which the formation of the outer
embankment will be so greatly facilitated, will also partly
account for that portion of the work not being in a more
advanced state; but the assurance of your engineer, who
is superintending its completion, that a very short time
will now put it into effective operation, induces your
directors to believe that for the future more rapid pro-
gress may be considered as secured.
" Your directors see additional reason to regret the
default in payment of the late calls, as it serves to retard
the steps which they purpose taking, for borrowing
under the powers ofeheir Act, when half the capital has
been paid up. To place the company in this desirable
position, it will be necessary, as intimated to you at the
last meeting, to make a further call of 21. 10e. to cover
the deficiency arising from the forfeited shares and the
arrears of calls.
" The assistance rendered, in the past session of Par-
liament, by her Majesty's Government, to such Irish
railway companies as were legally in a condition to
borrow, gives your directors every reason to hope, that
in the coming session, a similar course will be pursued
towards such companies as are entitled to aid. In such
case the double character of the security offered by your
undertaking will suffice to procure for it a participation
in the benefit.
"Tour directors, in accordance with the resolution of
the last half yearly meeting, have urged the pap-refit of
calls in arrear, and with considerable success, although
some few shareholders have been unable to meet their
calls. In a company whose shares are generally so well
held, your directors feel that it would not be justice to
those who do pay up. that others much in arrear should
be allowed to retain their shares ; they have, therefore,
felt it their duty to forfeit 365 shares, upon which the
third call has not been paid. This forteiture is now
submitted for your confirmation. In a few other cases
notices of forteiture were served ; but your directors,
acing a disposition to pay, and believing that by a judi
cious forbearance, the amount due may be secured to
the company, have forborne to press the confirmation o
the forfeiture at this meeting.
" The directors would have it distinctly understood
that the forfeiture of shares does not release the pre.
vious holders from liability to the calls made up to the
date of such forfeiture, and their best attention will be
given to enforce the payment of such calls, so far as
after due consideration the circumstances of each case
will be found to admit.
" The urgent requisitions of those residing in the
district have induced your directors to give further
consideration to the subject of forming, without delay,
the portion of the line from Londonderry to Newtown-
Limavady, and they are confirmed in the opinion pre-
viously expressed to you, that it is most advisable to open
this portion of the line as soon as possible. The alte-
rations of the line adverted to in their last report have
been further considered, and the local feeling consulted
with reference thereto. The directors have no longer
any hesitation in recommending that they should be
carried out. The Railway Commissioners will require
that this change should be sanctioned by Parliament,
notwithstanding that the consent of the landowners to
the same may, it is believed, be obtained.
" The working of the railway from Londonderry to
Strabane has had the effect of fully satisfying your
directors that the traffic upon your line will be much
larger than was originally hoped for. In proof of this
they may state, that the tolls upon Derry-bridge have
been supported by the two great lines of traffic, from
Strabane in Tyrone, and from Newtown-Limavady in the
county of Londonderry. Since the opening of the rail-
way to Strabane the traffic from that quarter has been
diverted from the bridge, yet the toll receipts have only
fallen off one-twelfth, indisputably proving the extent
of traffic proceeding from the district traversed by your
live.
" Your directors, in recommending the early opening
of the line to Newtown-Limavady, are also influenced
by the consideration that if its formation be longer de-
layed, a portion of the traffic legitimately belonging to
it may be diverted to other railways now in course of
construction. They feel, too, that by the suggestion now
submitted for your approval, the cost of your undertak-
ing will be lessened, and the completion of the embank-
ment hastened, by affording to the contractors greater
facilities for procuring stone, which being carried over
your line, and charged as goods' traffic, would add to its
receipts.
" Should the above recommendation meet your ap-
proval, your directors, in taking measures to have it
carried into effect, will at the same time be enabled to
apply for powers to have your shares reduced from 501.
0/.
to 25/. each, a change which, in the present condi
of monetary affairs, will contribute to the welfare of tl.e
company, and to the individual convenience of the share-
holders.
" The progress in the cultivation of the land already
reclaimed in Lough Foyle, similar to that now in course
of reclamation by your undertaking, fully justifies the
opinion at first entertained as to its value;
establishesindeed,
the value beyond the first estimates upon
which your directors made their calculation.
" Your directors refer with pleasure to the proceed-
ings of the Royal Agricultural Society of Ireland
t, at
this its
annual meeting. held at Derry, in the early pac of
month, upon which occasion some ot its members visited
the reclaimed- land, and were highly gratified with its
field Embankment.
bein
condition, and the proofs of its productive powers."
The following is the report of the engineer of the
company with respect to the progress of the works
upon the line :
" This portion of the work g pushed for-
day and night; owing,
ward vigorously, both however,
the
to the soft and yielding nature of
" Contract No. 1.
bottom, the rate of
progress, latterly, has not been as great as I could have
wished. This difficulty has now been surmounted, and
we are working on favourable ground; and I trust
henceforth that a steady and satisfactory rate of progress
—Longis
now
will be maintained in the construction of this embank-
ment
" The contractor has lately purchased a second loco-
motive for this portion of the work.
" River Roe Embankment.
" The embankments for the continuation of the Roe
River are partially employed for a distance of one mile
and a half from the shore. lam bound to say more
work should have been done here; and I have been
urging non the contractors the necessity O. e putting
a
larger number of men on this portion of the work.
" The contractors allege the difficulty of bringing in a
sufficient supply of stone when the wind is easterly; I
have, however, pointed out a method of obviating this
difficulty, which will now be acted upon. A locomotive
will be there in a few days, when the work will be pushed
on both day and night.
Contract No. 2.—Downhill.
" The only works of magnitude on thii contract are
the tunnels, being in the aggregate about 1,000 yards in
length. They are both through, and this section of the
line could be completed, if necessary, in a very bhor
space of time.

" Contraet No. 3.—Derry,
" Almost all the work is completed on this contract,
the Only parts remaining to be yet done are the cutting
through 11‘Clintock's Wood and the embankment across
Rosse's Bay. There has been some difficulty in getting
posses ion of land for procuring stone for pitching the
slopes of the latter, which ha; been the cause of delay.
" In conclu.ion, I cannot too strongly urge the ad-
'vantagts to be gained by constructing, as soon as pos-