The Sun.
London, England, 1847-06-02 00:00:00

MADRAS RAILWAY.

A special general meeting of the shareholders in this com-
pany was held yesterday at the Company's offices, 2, Win-
chester-buildings, Great ‘Vinchester-street, City, for the pur-
pose of receivine• a report from the directors; J. A Arbuth-
not, Esq., President of the Board of Directors, in the chair.
After the usual prelimivaries,
The SiCKETAILY read the report, which stated that the
present meeting was held in c,nformity with a resolution
teased at the third half-yearly meeting, held on the 18th of
Xebruary last, and which decided that a meeting should be 1
evened for the purpose of considering the advisability of
that G.ltng with the operations of the companv. It appeared
be veTZ` theneeotiation which was stated at the fast meeting to
tam coreiVtween the Government of East India and cer-
connect Call:Zwho had undertaken to construct railways to
Bengal ta with the north-western frontier of the
which the territories,concession not been successful, the terms upon
being too disadvaotikof the Bengal lines would be granted
which had been since to be accepted ; and a letter,
party to the secretary of red by the chairman of the com-
requestin e court of directors of the East
India Company,
decision of the Court, not
baying been noticed. The the
then proceeded to state
that the indifference with whierrth*
raerous comikunications of the con," and the
.by the East India
preceding nu-
we re treated was not, in nu-
company
ciPc'nolu"rnt of the directors,
titniej on the part
Company
their
to be ascribed so much to a want
of the authorities at the East India
peculiar views of nifroacls in India. Although t°
views of the East • no ofncial
intimation of the Vi India Company
that
Wall made, it was underst..iod
most favours )
~ Madras
most lv of the railway frommthemY thought
;liirr, to encourage it
bygrant
Arent, and that they a'c're w. 6 h a" to
.of land and other facilities; but yet, th honey, were
of a
gm °pi_,
Inion that aid from them in the way ot or ny
abanteed_aieidend, should be confined to one experimental
line, and that that line should be in the Bengal Presidency,
on account of the great political advantages it would afford
in facilitating the transit of troops and military stores.
Acting upon this view, the aist India Company had offered
terms fur the construction of a line or lines to connect Cal-
cutta with Delhi, a distance of about nine hundred miles, and
the estimated cast of which, at 17,0001. per mile, would be
15,295,0001. The directors of the Madras Railway Company
thought that such a course would retard the introduction of
railways into India by encouraging a line which, although
possessing some superior political advantages, yet was far in-
ferior, in commercial advantages, to other lines that might
be adopted, and was, moreover, too: extensive and costly to
be experotental. In consequence of these circumstances
the directors recommended the dissolution of the company.
The report con: 'tom by stating that the number of shares

on which the deposit of 2s. pet share was paid was 17,405.
CY these, 8.465 paid the call of 18s.; the holders of the re-
maining 8,940 shares were, as the directors understood,
strictly liable for their proportion of the preliminary ex-
penses which had been incurred; but the board did not
think it right to recommend the company to adopt legal
proceedings fur the recovery of these liabilities, and that
those who had paid the call of 18s. should receive the sums
respectively due to them.
The CHAIRMAN said, that in moving the adoption of the
report they had just heard, he begged to say that he felt sorry
that the directors should have felt bound to make the recom-
mendation contained in the report. The altered state of the
money market must undoubtedly be considered to be the
primary cause of the failure of the project. That cause,
however, w,aild not have been altogether fatal, if they
had received any assistance from the East India Company.
But not only had they not received encouragement from that
body. but their project had been seriously affected by the
want of any notice of their communications. He did not
mean to attribute that to any discourtesy on the part of the
directors of the East India Company, but to the effect of
that system which prevailed in Leadenhall-street. But of
this he was sure, that a very great blunder had been com-
mitted by them in trusting their project in the way that had
been done, and it would be felt more by the natives of India
than by the promoters of the present company. He had
been connected for a long time with India, and, in common
with the rest of the directors, regretted the failure of their
undertaking. He did not know that it was necessary for
him to make any further observations, and he would con.
elude by moving the adoption of the report.
Colonel SYMs expressed his dissatisfaction at the conduct
of the East India Company. and proposed a resolution to the
effect that the company should be suspended and not dis-
solved, which, after a short discussion, was withdrawn.
The motion was then carried.

The CHAlLlANtilelPrOposea that a sum of 200/., together
with the furniture of the offices, should be given as a re-
muneration to the secretary for his valuable services.
Colonel CADOGAN seconded the resolution, which, after
some slight discussion, was agreed to.
Thanks were then given to the chairman and the other
directors, and acknowledged by the former; after which the
meeting separated.

TUESDAY NIGHT'S GAZETTE.
BUCKINGHAM PALACE, MAY 25, 1847.
This day lisd audience of her Majesty, on his arrival in
this country, his Imperial Highness the Grand Duke Con-
stantine of Russia, attended by his Excellency the Baron de
Brunnow, the Russian Minister.
His Imperial Highness was introduced by Viscount Pal-
merston, U.C. 8., her Majesty's Principal Secretary of State
for Foreign Affairs, and conduct by Colonel the Hon. Sir
Edward Cust, K.C.H., her Majesty's Master of the Cere-
monies.

FOREIGN OFFICE, MAY 31.
The Queen has been pleased to appoint Edward St. John
Neale, Esq., now British Vice Consul at Alexandretta, to be
her Majesty's Consul at Varna.
DUCHY OF CORN WALL, SOMERSET-HOUSE, MAY 23.
The Most N3ble Algernon Duke and Earl of Northumber-
land has been appointed Constable of the Castle of Launces-
ton, in the county
Wof Cornwall.
HITEHALL, MAY 29.

The Queen has been pleased to present the Rev. John
Simon Jenkinson, M.A., to the vicarage of Battersea, in the
county of Surrey and diocese of Winchester, void by the pro-
motion of the lion. and Rev. Robert John Eden, D.D., to
the bishopric of Sodor and Man.

Coanniasiona by the Lord Lieutenant of the County Palatine

of Lancaster.

2d Regiment of the Duke of Lancaster's Own Militia—
Lieutenant Robert Augustus Aspinall to be Captain, vice
Meadow, resigned; Adjutant James Weir to serve with the
rank of Captain, May 27.
Commission by the Lard Lieutenant of the county of
Pembroke. _ _ _

Castlemartin Yeomanry Cavalry—Frederick Sapietra
Mantruffie Baron de Rutzin and Frenty, to be Cornet, vice
Jones, resigned, May 27.
Erratum in the Gazette of the 20th March, 1846.
West Essex Regiment of Regular Militia.—For Horatio
Edinborough, Gent., to be Ensign, vice Lucas, promoted,
11th February. 1846, read, Horatio " Edenborougb," Gent.,
to be Ensign, &c.
BANKRUPTCY SUPERSEDED.
Thomas William Green_Stevens,hackney master, Oxford.