The Sun.
London, England, 1847-02-27 00:00:00

LONDONDERRY AND COLERAINE

RAP.,WAY.

The ordinary half-yearly general meeting of the share-
holders of this company, was held yesterday at the offices of
the company, 5, Church-passage, Uuildhall ; Mr. Fritkin
the chair.
The SYCRETART read the report, from which we make the
following extracts:—
" Although the works generally have almost kept pace with
the funds at the disposal of your directors, they regret that
the progress of the embankment during the winter has not
been equal to their anticipations; this is mainly attributable
to the unparalleled severity of the past season, which
has not only retarded the progress of the contractors,
but, in some instances, has partially damaged the unfinished
portion of their works. While your directors thus regret the
delay arising from this circumstance, they point with peculiar
satisfaction to the proof thereby afforded of the great stability
of the works where completed; as during a hurricane, the
most severe experienced for many years, with the wind from
IRA riftMg‘l\trkEtaiiiiiiekvihota to t MieitsuitluiL
the embankments.
" Your directors, mindful of the pressure of the times, have
circumscribed the calls on the shareholders much within the
amount authorised by the Act of Parliament ; but they now
hope that, as the season for more activity in the works ad-
vances, that confidence which has hitherto been evinced
towards the undertaking will be continued, and thus enable
your directors to place the company in the position of exer-
cising the powers of the Act for borrowing a portion of the
capital required.
" Suggestions have been made to your directors that they
should, without delay, construct the Branch to Newtown
Limovady. This subject is one of great interest, and will
receive every consideratiou ; but as such suggestions involve
some alterations in the course of the line, your directors will
not decide upon their adoption without the previous ap-
proval of a special general meeting of the proprietors. In
the naeantime they take this opportunity of acknowledging
the very valuable assistance they continue to derive from the
active services of the local board, who are zealously alive to
the best interests of the undertaking."
Captain WATTS wished, before the motion fur the adoption
of the report was put, to call the attention of the meeting
to a law report which appeared a short time since, in which
it was stated that an injunction had heed obtained restrain-
ing the company from proceeding with the works on the
embankment, and the judge OR that occasion was repre-
sented to have made some strictures rather derogatory to the
company. He wished to have some explanation with regard
to this point.
Mr. TYRRELL, the solicitor to the company, then entered
into a lengthened statement of the transactions and negotia-
tions that had taken place between Mr. Dimsdale, the original
proprietor of the embankment, and Mr. Hemming, the con-
tractor; as also of the proceedings in law that had resulted,
and concluded by saying, that the company had nothing to
fear from any attempt, present or future, of Mr. Dimsdale to
involve them in litigation, and the recent differences had
been arranged.
The CrtarnmaN, in reply to questions from proprietors,
observed that should any deviation be intended to be carried
out, the proprietors should be previously consulted— that the
signatures of Messrs. Ross and Stevenson, the former en-
gineers of the company, had been accepted on the
score of economy, but the present engineer, Mr.
Lanyon, had formerly acted under Mr. Stevenson,
and was likely to give every satisfaction—that
the directors intended to make these calls larger and
more frequent, till they amounted to 271.105., when they would
be in a position, in accordance with the Act, to borrow a
portion of the capital necessary to complete the undertaking
—that of the first call there were 65 shares unpaid, 55 of
which were arranged, and the remaining, 10 only were
doubtful ; of the second call, the deficiency was 412/. 10s. 2d.;
of the third 925/. ; and the deficiency on all the calls
amounted to ab,,ut 9,0001.

The report was then unanimously adopted, and ordered to
be circulated.

Some conversation ensued as to the propriety of taking
steps to get in the deficiency on the calls, and
The Cnantmax intimated that no exertion would be
wanting tor that purpose.
On the motion of Captain WATTS, seconded by Mr. LEWIS,
a vote of thanks was given to the Chairman, and the meeting
separated.