The Sun.
London, England, 1841-02-26 00:00:00

also congratulated them on the statement that no (tether
capital would be called for, and his last topic was that the
Directors had secured the assistance of a gentlemen in the
traffic department. whose talents and activity gave the best
assurance that the line would be managed in the very best
manner.
Mr. E. DANN seconded the motion. It was true the
dividend they were to receive was a small one, but it
was an honest one—(Hear and cheers)—and had been
declared out of the actual profits of the undertaking. If
it were even smaller, it would be infinitely better than if
manoeuvres had been resorted to to increase its value.—
( Cheers.) He was glad to find the attention of the Di-
rectors had been directed to the subject of coke, as there
was a great difference in the price of coals raised in the
forest of Dean and in that part of the country, and very
great advantages would result to the Company if they
succeeded id effecting an arrangement to procure it on the
spot.—( Hear, hear.)
Mr. HEYWORTH was glad to find the engineers' ex-
penses had been reduced 4,000/. in the last half-year,
and hoped there would be a further reduction. He
wished to know if all the locomotive poser had been
provided ?
The CIIAIRMAN said not more than half the locomo-
tive engines had been proviiied, but they had a very large
supply of carrisges.
Mr. GURDON wished to say a few words upon the ex-
cellct•.t and judicious observations that had teen made by
the Chairman, and particularly that part which referred to
the removal of the West India packet station to Dart-
mouth. The Chairman seemed to think that Dartmouth
was the place fixed upon by the Government as the packet
station of all those mails. Now he believed it would he
found that there would be a great opposition to that place
becoming a packet station, and with respect to the report
upon that subject, he had heard it alleged that it was im-
possible that any person competent to speak on that sub-
ject could have made such a report as was male to the
Government if the distance had been measured. lie be-
lieved it was the intention of a Member a f the Government
when the subject was brought forward, to divide the House
upon the subject He hop. d that the Directors would. be
diligent in seeing that the packet station was not removed
to a pl ice which would take from them the benefits to be
derive I from the adoption of a station dish which it would
communicate. It might be taken to Southampton,
and he knew that great exertions had been made by the
Southampton Dock Company to get that place appointed
as the packet station, but he trus:ed that, by the exertions
of the Directors and ethers, the appointme..t of that
town would not be fixed upon. In his own mind, inde-
pendent of all interest in the Company, he bell( ved that
Falmouth would I e the best packet station.—(Cheer:.)
With respect to the accidents on railways, and he was
hippy to hear that the Chairman was one of that body
which had been appointed to Watch the progress of the Bill
through Parliament, he thought there should be something
:ike lair dealing. lie thought that the delusion which a.
present existed in the public mind ought to be removed.
He hoped that en authorised report, with respect to acci-
dents on railways, would be publicised, not leaving it to the
newspapers to put their own version on the subject--
(Cheering)—and he hoped also that some means would
be adopted to obtain from Ccroncrs an account of the ac-
cidents that had taken place by ether means.—(Cheers.)
With respect to the subject of compensation in cases of
damage. many persons thought it unfer that a compensa-
tion of 1,000/. should be awarded against a Railway Com-
pany or against coach proprietors, and yet that
where a person was killed, and the family de-
prived of the means of subsistence, no means
existed of compensating the family. Now in his opinion
it would be much more wise t introduce some Bill on the
subject than to adopt the obsolete system of deedand.—
( Hear, hear.) The deodand on the London and Bir-
mingham Railway of 2,000/. was one of the most ridi-
culous things he had ever heard. The Jury there had
brought theinseivet; to think that the man who by Lii own
reckless proceedings had caused his own death, had pre-
meditated that death.—( Cherie.) He thought the Com-
pany were greatly indebted to the Directors tor the course
they had pursued in announcing to the Proprietors the
periods at which they would be c riled ution to pay their
calla—(Cheers)—and he wished their example had been
followed by other Companies.—( Hear, hear.) He was
a Proprietor of the London and Birmingham Railway,
and he must say that he felt great displeasure at seeing
the Directors of that Company hanging back and hesi-
tating as to what ought to he done. 1' he Directors of
the present Company had pursued an honest course, be-
cause the public was told when they bought a 100/. share
the time when the calls would be made.—(Cheers.)
There was another subject to which he wished to allude,
and that was with respect to the great fluctuation
in the value of the shares of the Company. It could net have
escaped any person interested in railways, to observe the
absurd fluctuations that had taken place in the price of
shares, and, if by any m• aas a remedy could be devised,
it would contribute materially to inc: ease the value of their
property; he had tried with great anxiety to trace the
malady to its source, but he found the subject surrounded
with diffieulty. He thought the public mind would be
disabused of the many delusions that took place by a mere
continual publication of the state of their affairs, and their
property would be saved from those great depressions to
which it hid been subjected. He would not pretend to
do more than to throw out his suggestions for the con-
sideration of the Directors, who, he trusted, would persee
vere in tracing the evil to its -source, and provide a re-
medy. It might be well to have a Statistical Gazette,
in which to publish the state of their affaTs.—( Cheerer.)
Mr. HEYViORTH thought the worthy Proprietor who had
just addressed the meeting, had trac id the evil to its
proper source. One greater evil was the uncertainty is
which the Shareholders were kept, as to the expenses of
the line. He thought the public ought to know, from
time to time, what these estimates and expenses were.
Mr. CROSSWAITE wished to know whether the parties
who had lent money on the fifths of shares bad the power
to call for bonds from the Company, because, if they had,
they would be der rived of their dividends.
The CHAIRMAN said that they knew the time when the
debentures would be called upon to he paid, and they had
so far regulated their loan notes that they would fall to bo
paid soon after the debentures, and they would, therefore,
have those debentures to give to the holders of the loan J
notes if they chose to take them.
Mr. CROSSWAITE wished to know whether the parties
doing so would be entitled to any dividend that might be
decl-red ?
The CHAIRMAN—Certainly.
Mr. Ceosswerre wished to know from the engineer
whether the great outlay that had taken place during the
last half year was upon the line that bad been open for
some time, or upon that that had lately been opened.
Mr. BRUNEL said that the outlay on the part that
had lately been opened was considerable, but that it
had been less from Reading to Maidenhead, than from
London to Maidenhead. But there was nothing in the
outlay on the line that had been long opened, but what
was most sadefactory.
Mr. CROSSWAITE wished to know whether in the first
twenty-two miles opened the outlay was more expensive
than upon that which had been lately opened?
Mr. Beetene said that it had ; but the outlay upon
that twenty-two miles was not heavy, and, as compared
with a great number of other railways, it was low.
Mr. CROSSWAITE said be had had a promise at the last
meeting from Mr. Brunel, and he was anxious to know
whether it had been carried out or not ; and if not carried out,
he wished to know why it had nut been. It would be in
the recollection of the meeting that the Proprietors, at a
former meeting, urged the completion of the works even
at a greater expenditure. He had himself been on the
line, and he found that the works were not in so complete
a state as he should have wished. Upon the Wootton
Basset contract the works were far from completion, and
at Chippcnham the contractor was very much behind.
He believed the latter was Price's contract ?
Mr. BRUNEL said that it was.
Mr. CROSSWAITE wished to know when that contract
ought to be completed ?
Mr. BEUNEL—On the 15th of May.
Mr. CROSSWAITE wished to know whether the works
upon that contract were in a sufficiently forward state to
be completed by that time.
Mr. BRUNEL said, that he considered they were.
Mr. CRCSSWAITE—Then as to the Box Tunnel, h e
wished to know when that contract expired.
Mr. BRUNEL observed, that that was Hemming's con-
tract, and that it had long since expired.
Mr. CROSSWAITE wished to know whether there was
any means of compelling the contractors to complete their
works.

Mr. BRUNEL observed, that there were legal means
cf doing so, and that penalties might be inflicted.
Mr. CROSSWAITE thought if such was the case, the
Company ought immediately to proceed to enforce the
completion.

Mr. HETWORTII wished to know whether the. Directors
had reserved the 10 per cent. from the contractors.
Mr. !RUNE!. must decline suing the course that bad
been pursued. It would not be wise for him to give the
particular state of the accounts of any single contractor.
It would not be of any advantage to the Company for him
to do so. With respect to Hemming's contract it had belt'
found necessary to adopt strong measures, and those mei-
sure; had been put in force to compel the coLtractjr to
complete the work. Of this he was certain that Hem-
n ing could complete the work, and if he did not do so it
must he taken out of his hand!.

Mr. flErwowriz must again ask whether they
I
that served a fund of 10 per cent. upon the work done.
1"1:1 re.
Mr. BRUNBL said, that to answer questian
would be to state the balance between t
must
ho re-
serves and the advances, which would be most
e-
judicial to the interests of the Company. He
throw himself upon the Proprietors, and beg of them to
authorise him to decline answering that question.
Mr. CROSSWAITE observed, that with respect to the
west end of the Box tunnel, there was a great deal still
to be done. He must express his regret that the works of
the western division were not in such a state of forward-
ness as he could desire. He hoped that Mr. Brunel
would carry out the assurances he bad given him at the
last me2ting, that the line should he opened on the first

of June.
still with judgrneat.
dens itiAnassTortvigt(hiroouugsht that
a manner everything
id w iat hst
the
prie:or who bad bpokezt aHseheargt ee sfisilbol dPbrebu _et
the accidents on railways, burt(;
t safee one was clear from
line a the Great Western was a
of enveyance, should come beforeit.Tiochssein on other
public.3ththateTrnhoillat to°tdijlti'e)s.
the statements made by the Chairman. lie thought that
speech
port.
He oughthad t be
go r
eat
pleasurerin printed and circulated
innoticing
the wr
red
dt hu
et
thi
oe e -
of
the charges on the working of the roads, and he hoped
there would he a material reduction in this: item of expen-
diture in the next half year. He saw no necessity for 24
Directors of that Company.—( Cheers.) One of the propo-
sitions that they were called upon to sanction that day was the
re-election ofsix gentlemen as Directors. He had no doubt of
the efficiency of those gentlemen, but when he looked to the
list of railroads throughout the
kingdom, and when he saw
that there were only five that had twenty-four Directors,
he must confess that he had come to the conclusion that
so large a number was not necessary. He trusted that the
Directors would, before the next meeting, take into their
consideration a proposition for reducing their number from
24 tcil 15.