The Sun.
London, England, 1847-09-02 00:00:00

RAILWAY INTELLIGENCE.
WILTS, SOMERSET._ AND WEYMOUTH

RAILWAY.

The half-yearly general meeting of the share-
holders of this company was held at Bath on Tuesday.
Sir J. W. Audley, Bart., deputy chairman of the
company, presided.
The SECRETARY (Mr. O'Brien) read the report,
which stated that—

" One of the Bills promoted by the company bad re-
ceived the royal assent for deviations and improvements
of the main line, near Bruton, and of the Batharopton
branch, near Bradford, by which the character of the
line will be improved, and the ci.sts of the works dimi-
nished. That a Bill tor the extension of the Berks and
Hants Railway to Devizes and Westbury has passed the
House of Comm( ns. By it these towns will be placed
on main lines to London, and considerable additional
accommodation given to Wiltshire and the northern part
of Somerst [shire. An Act has passed for a railway
trim this company's line at Radstock to the Great
Western Railway at Twerton; by which a direct com•
munication will be established from Frome to 3ristol,
and the markets of Bath and Bristol opened to the sup-
ply of the coals from the whole of the Radstock district.
That the directors have affixed the seal of the company
to the supplementary agreement with the Gri-at Western
Company; and take this opportunity of stating that the
whole of the arrangement between the companies, as ori-
ginally, announced, have been finally embodied in agree-
ments which have rt ceived the legal approval and confir-
mation of both companies. The change which took place in
the monetary condition of the country, soon after the
passing of the Act of this company, has, of course, had
an effect upon the company's financial condition. But
the directors are enabled to report that there are not
more than 3,273 shares on which they have no hope of
turthet payments being made. These shares the
directors have declared forfeited ; and as the money
paid upon them amounts to alerve 11.0001., the ultimate
loss to the c .inpany will not be of material consequence.
Toy have not intentionally released any individual from
engagements which he was able to fulfil ; and they have
equally, in the exercise
of that discretion which they
believe the proprietors wish them to exercise, avoided
the immediate and rigorous exactions of claims which,
without being urgently necessary to the company's
welfare, would have brought ruin upon individuals,
and might, in the result have been injurious to the
company, and even have tended tp defeat the ob•
jrct in view. The directors, bung anxious to
relieve the pressure of calls uporr, the proprietors,
by resorting as early as possible to the power of borrow-
ing. propose to obtain authority to accept loans on the
company's debenture bonds, so soon as they shall be in
a condition to do so legally, which will be when half the
company's share capital, amounting to 750,0001., shall
have been paid up. The accounts now before the pro
prietors, being made up to the 30th of June last, show
only a receipt of 557,935/. ; but since then another call
has become due, and considerable payments have been
made, so that the additional sum now wanted amounts
to about 75,0002 This, it is hoped, will shortly be
realised by the disposal of the forfeited shares, the col-
lection of arrears, and the receipt of advances in antici-

pation of calls. As an inducemvnt to the shareholders
to adopt the latter mode of investment, the directors
intend that the rate of interest all:>v•ed on payments in
advance of calls shall, for the future, be five per cent.
This alteration will extend not only to sums hereafter

to be advanced, but to the amount already received.
The general progress of the works is necessarily regu-
lated by tt:e means placedb) the proprietors in the hands
of the directors, and, in common with all other railway
companies, they have judged it prudent, especially since
the beginning of this year, to proceed with caution, and
to avoid anticipatieg their resources.
The engineer's report states, " That the progress of
this railway during the last half year has not been so
r..pid as might have hren desired. The. have endea-
you ed to uxpedre the wnik• between Thingley and
'fro% bridge and Bradbrd, and thence to Westbury and
Frome. In order to open the line to Tr( abridge and
li:adtord before winter, it will be necessary to take de-
cisive steps, unless the contractor immediately improve
his rate of progress. With proper exertion on his part,
the line ought to be ready to rec:ave the last portion of
the permanent way in a month or six weeks, which
would enable us, within two or three weeks more, to
open to Trowbridge. Tile Devises branch is com-
menced. All the working drawings and other prelimi-
naries are prepared for the Itadstock branches. South
of Frome, the new line to Bruton has been set oat, and
all the preparations made for its immediate execution,
ao as not to delay the opening to Yeovil. Between Yeo-
vil, Dorchester, and Weymouth the works are proceed-
ing ; and between Bradford and Bath the works are
also in progress. The balence•aheet showed that the
rtceipta up to the 30th of June amounted to 557,9351.,
and the expenditure to 543,4651., leaving a balance in
hand of 1,1,4701."
the CHAIRMAN, in moving that the report be
adopted, observed that the moat important part of the
proceedings that day would be the shareholders'
authority for the sale of certain forfeited shares. The
directors had ordered 3,273 shares to be forfeited, in
consequence of the owners not having paid up their
calls. Five pound per share had been paid on ac-
count ; and the directors now required the share-
holders' authority for the sale of those shares. They
would then be offered to the shareholders at a consi-
derable reduction. The directors had made arrange-
ments for allowing 5/. per cent. on all calls paid in
advance for the future, instead of 4/. per cent. He was
happy to say that they would soon have sufficient
capital paid up to enable them to go into the market
as borrowers; and if they could burrow on reasonable
terms he thought it was better than making any fur-
ther calls at present.
The report was passed, and a resolution empower-
ing the directors to sell the forfeited shares adopted,
as was also another, resolution, authorising the
directors to borrow 500,000/, after the"next call had
been pail up.
A PROPRIETOR said he presumed, if the directors
bad to borrow money, that they must, pay five per
cent. for 'it;' and he should like to.know how that
was to be done, when, the company were only al
lowed 41. by the Great Western, to whom they were

leased.
The CBAIRMAN, in reply, said that the Great
Western Company were responsible for all ►.xcess
expenditure; and he presumed the interest on bor.
rowed money would have to be paid.
After a vote of thanks to the chairman, the meet•
ing terminated.

BRISTOL AND EXETER RAILWAY.
BRISTOL, SEPT. I.—The twenty-second half-yearly
meeting of this company was held at the White Lion
Lintel, in this city, this day, James Wentworth Bul-
ler, E-q ,in the chair.
J. B. BADHAM, Esq., secretary, read the report of
the dißctors, which stated that—
t he
amount of rent and share toll due from the
Great Western Railway Company,
for the half year
end ng on the 13th of June lsst, is as follows, viz.:—
Fixed rent of the line from 13rtstol to Exeter from the
14th of December, 1846, to the 13th of June, 1847. at
71,9571 a y ear, 35.978/. 10, ; share of toll on 274,9061
pss,engers, conveyed 8.493,5491 miles. a' l• Per mile,
8 8471. Bs. lid. Ditto on merchandise, 63,569 tons 4
ewt. 3 qrs 4 lbs , rquwl to 1 ton conveyed 2 522,089
miles, at .d. per mit., 2,6271 3,. 61.; total 47,4531. 2.
responding half of the year 1846, arising 'rom an in-
-54., showing an inerestie of 689/. 16s. 10d• over the cor-
crease ot 15.192 passengers, and 12,426 tons of goods.
The dispo,sl balance 4'f the ri venue account, including
the surplu' of 2.0551. 15s. sd. •,n the former half-year,
is 26.219/. 9.. Id.. which enables the directors to declare
the same dividend ot 1/. 13s. 9.1. per 1001. share. as in
the lad half-year, free of income-tax. This dividend
is equal to 41 per cent. on the 751. paid up, and leaves a
surplus of 906/. 19s. id. to be carried to the credit of
the next halt-year."
The report was unanimously adopted, and a reso-
lution was afterwards proposed, requesting the direc-
tors to enter into a negotiation with the directors of
etlease,Great Western
amalgamation o som e f otherthe
BristolciP andanY for the
ale,
Exeter

line.
After a long discussion the motion was withdrawn,
and a vote of thanks having been passed to the Chair-
man, the meeting separated.

ORKNEY ELECTION.
FINAL CLOSE OF THE POLL.
Dun4as . ••• ••• 145
Anderson ••• • • 140
State of the poll in Zetland not known as yet.
The official declaration takes place on Saturday,

gheut.thiplistrict in securing
have en the whole been
CORN EXCHANGE, BULL, TVESDA.Y:—Considerable '
e;inw?ohanentrien
continued
de
and
dttevre
very
yas severeben
"'legs:we
hwicehekAwmeerhiacen
attgoheot
hdterdaeedxae 1..
pthreogbraersysehsats, baeneTfmewadesethasroouns
paying anything
like tested this remark has proved correct, but we still think
mbootrhe
ifnavoquuraalibtyle
andThysiewbghiheat crospnbwdr:tilnlacvdhadrey.:
it will prove a good avertig?•isohwilpL:
had The
d t nextdistrust
uto s t nothing
created dboyi nt
failures in London is excessive,
treme fine weather, leads some persona to act as though
we had all at once got a double crop of sew grain, and
a complete panic has
s eis, trebleddutphoen
bstockuye
buyers,
andold ;thien
old and new, shown at our
like late prices for wheat. There was again
flq,lituarntiistyselolifngwhqeusitet.
both old
millers
market to-day. The remark made above respecting the
new was tully borne out. Condition was excellent, and
a good deal sold at about ss. per quarter decline.
Foreign wheat almost unsaleable' The condition of the
new crop is so good as just now to need little mixture,
and old has consequently to be put into granary. It
may not be quite such a drug in a few months' time.
preference forits
offering'—grind-
ing arle y f 0 r malting request,irhnrievsaulsupplied
elitedbt
atunttuei nonet:b utth the
saleable at 10d. to 11d. per
been The sale of rye
Present relatively
meal durii,g the netsisttorine:ukr3haascon.tinuevderpyregfer
excellent feeding qualities have now. been so well and
article is
extensively tried,
moderateit.slonr partici:. canA
net breed off; parties preferring to land and take their '
turn in selling.—From Mtssrs. Taylor and Bright's
Circular.
INTERESTING SHIP RACE. COVE, MONDAY
MORNING.—The b.rque Glanmire, of Cork, Captain
Barlett, and the Simeon Hardy. of Cork (brig), Gore
arrived this morning. both having left Barbadoesloge:
they; they were forty days coming, and the *neon
Hardy got in first. It is tlpotted that- tinge .shahs
vv!ve sported by the Bactiadiaus oil the remitv.i.cork
k,,zasstmer. • _ ~. '. ,-•