The Sun.
London, England, 1849-12-27 00:00:00

SOUTH STAFFORDSHIRE.

A meeting of shareholders ,in this company was
held yesterday at Birmingham, for the purpose of
adopting certain resolutions and a requisition to the
directors to convene a special meeting of the share,
holders, to take into consideration certain proposed
amended terms for a lease of the line, to be submitted
by the directors to the gentlemen who proposed to be
lessees at the late meeting held at Walsall about
three weeks ago. Mr. J. P. Dyott (Mayor of Lich-
field) occupied the chair.
The CHAIRMAN stated the origin and object of the
present meeting. As one of the projectors of the
South Staffordshire Railway, and having bought
shares at a considerable premium, after the decision
of the late meeting of shareholders at Walsall he had
deemed it his duty, in conjunction with his friends
Mr. Payn and Mr. Johnson, to endeavour, if possible,
to bring matters in dispute to a satisfactory settlement.
It would be recollected that it was by the excellent
speech of his friend Mr. Johnson that the lease then
proposed to be granted to Mr. M`Lean and others
was rejected at the meeting to which he
had referred. He (the Chairman) and the
gentlemen already named had met together, and
he believed they had drawn up terms which would
meet with the approbation of the great body of share-
holders. By the lease submitted to them at the
general meeting the lessees were to pay, upon a paid-
up capital of 669,375/., 2 per cent. tor the first year,
4 per cent. for the next succeeding ten years, and 4}
per cent for the next ten years, which would conclude
a lease of 21 years. He (the Chairman) would read
to them the terms of the proposed amended lease.
(The Hon. Gentleman read the lease at length. The
only material deviations from the original lease will
be found in the following items :—The lease to be for
21 years. The capital to be taken as before, at 8/. 10s,
per share paid-up, or in the aggregate, at 669,3751.
For this the lessees to pay, for the first year at the
rate of 2 per cent., amounting, as calculated, to
13,3871.; for seven years at 4 per cent., amounting to
26,7751.; for six years at 41 per cent., amounting to
30,1211.; and for the concluding seven years at the
rate of 5 per cent., amounting to 33,468/. The
lessees to pay 6001. instead of 500/ annually towards
the directors' expenses.)
Mr. PAYN moved a resolution to the effect that the
amended lease be approved, and that a requisition be
presented to the directors requesting them to convene
a general meeting of the shareholders for the purpose
of obtaining its sanction of the amended lease.
Mr. JOHNSON, after stating he was glad the pro-
prietors had rejected the first lease, expressed his cor-
dial approbation of the one now proposed. They had
had an interview with Mr. M'Lean, but although that
gentleman was not pledged to accept the lease as
amended, he (Mr. Johnson) believed ,that he would
ultimately accede to the terms proposed. He might
be allowed to state that in addition to the guarantee
of 10,000/., which they should always have in hand,
the company by this lease also demanded pre-payment
of about 11,0001. every quarter on account of the
succeeding quarter's liabilities. So that they would
always have 21,000/. in their possession.
The resolution and requisition were agreed to
unanimously, and the latter signed by proprietors
holding shares to the value of 150,000/.
The meeting broke up about four o'clock.

SHREWSBURY AND HEREEORD.—An influential
meeting of the inhabitants of Knighton was held last
week, for the purpose of promoting the early forma-
tion of the railway to the towns of Knighton, Pres-
teign, and neighouring places.
Mr. It. LEWIS, of Presteign, was called to the
chair, and having explained the great benefit that
would arise, not only to the above towns, but to the
entire county, by the completion of the line,
Mr. P. SEVERNE proposed a resolution urging the
immediate formation of the line, which being se•
conded by Colonel COLVIN, was carried.
Other resolutions, pointing out the great advan•
tage that would result both to the rich and poor by
a cheaper and more speedy transmission of the main
articles of consumption, and soliciting the landlords
and others interested to take up shares in the railway,
and thus assist towards carrying out the scheme, being
adopted, the meeting broke up.
BORDEAUX AND CETTE AND LYONS ND AVIGNON.
—Memorials, now being signed in the city, are
about being presented to the French Government
relative to the long existing delay in the liquidation
of the caution money of these lines in connexion with
the proposed line from Paris to Avignon.

RAILWAY SHARE MARKETS

LIVERPOOL, DEC: 26.

STOCK EXCIIANGH.—The share market was dull to-day,
and little business doing. The transactiova were as follow:
East Lancashire, 11% —Ditto, Preference, 7i—Lancashire
and Yorkshire, Fifths, 7 dis.— London and North-Western,
110—Ditto, New Quarters, % p.— Ditto, Fifths, % p.—
Manchester, Shafield, and Lincolnshire, Preference, 8—
Midland, 45'4—Ditto, Halves, 221. Is. 3d.—South-Eastern
and Dover (No. 4), 61. Bs. Pd.
MANCHESTER, DEC. 26.

STOCK ExcrrArmic.—The transactions to-day were as
follow:—Bolton, Blackburn, Chitheroe, and West Yorkshire
(No, 1), s—Caledonian, Preference, 7% —Fleetwood, Preston,
and West Riding Junction, Is. 3d. per share—Lancashire
and Yorkshire, Halves (11. and S.), 27 V 2— Ditto, West
Riding Union, 7 dis,—Ditto, Preference, 6 per cent., 12:Yi
—London and North-Western, 110—Ditto, Manchester and
Birmingham, Quarters (C ), 11;t p. —Manchester, Sheffield,
and Lincolnshire, Preference, 7% —North ;_qaffordshire, 9 Tf4
dis —South-Eastern and Dover (No. 4), Scrip, 6 7-16 c.
BIRMINGHAM, DEC. 26. . _

SIOCIE EXCHANGE.—The tone of the market today was
firmer, there being an evident inclination to buy for the next
account. There were buyers of South Staffordshire at 31/1
die., but no sellers; Shrewsbury and Birmingham (A) were
quoted at 71. Vs. 9d. die.; and Birmingham and Stour Valley
might have been purchased at 91/8 per share.

THE PARLIAMENTARY SEASON.—It is confidently
hoped by many fathers and mothers of families that
Psrliamen will not separate ,his year br•`cl .11{, i,:`,
the leaf, consequent upon the reduction of the duty on
tea.—Punch's ditmanach.