The Sun.
London, England, 1847-08-03 00:00:00

£93,237 19 9

... £l.OOO 0 0
3,423 15 4

EXPENDITURE.
By Engineering Expenses •••
Law and Parnamentary Expert:on;
„ Traffic Takintr, and Exp,iises of L 'eat
Committees
„ lien=. Exp t,ses of (Minos and Petty.
Thstnirs(lrplits• iteibi.theration to
I),reciors, &e.
Statif.nery and Bistage
Advertising, Ste. •••
Balance

462 19 7

901 19 10
94 6 4

... 605 4 2
... 86 749 14 6

£93,237 19 9
The report was received and adopted and entered to
e circulated emitter the shurenul rs. and a reeelutien
the umalgimati of the
•ussed empowering the directors apply
wnrtoecilosmil tor an Act in
puaigniesse"rie-fearrti(-d) effect the
the report, namely, No. 1
Ni..ud 2.
The CHAIRMAN then submitted a reselution for the
;pproval of the inee ink for effecting tee lease of the
-lie to the South Westein on the let nes rnesitiened in
le reports. He raid the shareholders were simply
• elled upon to confirm u provisieeal aereemeet entered
to some time a_ o, till the 16th el January, with the
uth-11 ester') for the lease of the hue.
The ba-is of
ne company wa., that such an agrt etnent should be
..-d as but :31. was talked of.
how elf' led were higher
rrilerenr''thdoi-en into,
Mr. TAMLIN secOntled the
i.t;inbdai eprt,eq,rit:3
A SHAREHOLDER it gutted if the purchase of the line
),v the S erh 11 eetern was, r wag n. •t, optional ?
Mr. DRAKE, the soltater to tee compsil), add it was
-trhc-ly 'Tooled ou the part of the S .uth• Wester:! ,
-icy were not bound to purchase, Out they w. re user-
etly willieg to do so, ou the terms in, Intoned in the
eport,
A SHARRIIoLDRR asked if the company had den r-
eeled to purchase the hoe, or whether they mere!)
:teamed the option to do so, ie the event of the it finding
eich a barg,ait, conducive to their intereete ? If the
aloe of the shares were less than 41., new or at any
uture t me, the South-Western, might decline to pro-
-eed, whilet if they were fully that value they would
sire, tie doubt, to consummate the bargain hoot
..,lay. He teauplatned ttett no tithe was stated when
••e bargain should be corneleted,
and suggest.d that
.•tme time should be fixed, at the expiration of which
he South-Western stemiti either purchase the tine, or
tate teem determination not to du so.
Mr. TAMLIN Vie pr •p jeitien of the directors.
tie said the shareholders need he under no apprehension
• sat the ae•lreetneet with the South-West- re would not
•kt carried out in the moat honourable winner. T.) him
hr proposition was quite satisfactory, and, besides, con
Odering the Parliameetary resolutions, it was the most.
4 ivieuble courte to adopt.
The CHAIRMAN raid they must pay St per share
olether the lease was effected or not. lie considered
~at,the shareholders would ,to w. It to leave the neater
the hands of their iliteetorS, xs they would see the
entract fully and satistactot carried oat. In tact, he
ill no hestitation ,saying the, the SeUth Western in-
.tided to carry out the stgreetneet taitetully.
Mr. Creamers (the Clete titan of the South.Vltstcrit
:ad, perhaps it might save time if he suited that he
elould avail heneelf or the earliest opportunity of
cun-
•:,rring with the pr. pretiori of the South-Western en
.tte subject, and of urging toren to collie to a (let... Twee-
t. len with the least possible del.!)'. lie wished, however,
eat it inieht be understood that he speke as tee chair-
eau of the South- Western. There would be a general
he should then seek the
leewhig on Fritlity next, and
te purchase the line, and,
eermiseion of the comettne
herefore, the hineurrible pr.-pre-wee apprehension on
net matt, r would shortly be at end.
Dr. LONGSTAFF ntqutrt d, in the event of the S iuth
Xeste lei purchasing the line, whether the ehareledd, rs
.11 this line would that) the option of taking stock in the
South- Westere, or of re cervitsg metal ter them shares
cash?
The CHAIRMAN replied that. the agreement specified
,hat the shuree should be paid for in, cash. Thee might
toy South. Western shares with the produce if they
theight eroper.
Dr. Lotectrreee said there might be a considerable
inference betw, en shares given as l aywent and the pur-
ha,,e of shares in the market. There was an impression
mengst the shareholders that they would have the
of taking shares in the consolidated stock of the
company,
.etr. BURCHAM (the solicitor to the South-Western),
',id the matter was just talked of ; it w s understood
iiet, so fetich Windsor stock sneuld tie given for so
:ouch South-Western stock, but the South Western
hares went down remarkably a short time after, and
et order to put au elm to the uncerteiotY, they agreed
o hate u tetanus anti •utit t.f pretnium.—(eheere-)
Mr. N. H. NIASKILL •
then prep's. (.1 :411 aineflonviit, to
he effect that se much to the agreement as related to
hr 4/. pr- mitten should be dissented from.
I tr. LosesreeF secended the motion.
Mr Deexe s..itl the anteitdmeid C.,uld not he put. es
teas centrury to the very egteeirketit. which the Hun.
fteprictor an I others had signed.
Dr. LoNGSTAFF thought it most extraordinary that
fe-y slimier be caLed together to consult r a matter
eluch they were tele they were incapable of deciding.
)she sale of the line at a premium of 41- per share would
ee a miserable bargain ; and if he had khown that this
,N,,uld be the fate of tile company, he would hot have
even that attention to ite affairs he
J fits CHIIRMAN did not object to put the amendment,
• tut, he slated to temiett them t het toe (illee"a acted
ill MO au(hoilt) of an absonee :ter. eneilt et which the
snareholders themselves bud assented. They "HOY
asked them to confirm that which they gave them power
to do before they obtained their Act.