The Sun.
London, England, 1847-02-26 00:00:00

EXPENSES.

By Dividend, from Feb. Ito July 31, 1846 ... £2,000 0 0
Directors
Stationery 45 7 6
Taxes 448 13 6
Gas
Salary ..
Stevens and Son, repairing
24 16 0
gates
Petty cash . 45 0 0
Wages paid toll collectors ...... 225 12 6
Rent of offices

1,324 2 11
Balance

5,983 2 11

On the motion that the report be received,
Captain KELLY called the attention of the meeting to the
gteat access which would be made to the traffic upon the
bridge when the numerous railways, now in course of con-
struction, or seeking to obtain the sanction of Government,
were completed. The terminus of which were proposed to
be on the Surrey side of the river.
Mr. ENGLISH proposed that terms should be offered to the
Market Company, for the purpose of coming to some atrange-
ment. He proposed that the Market Company should have
the free use of the south and north pier, and that all steam-
boat passengers should be allowed to go either to Lambeth
or to Hungerford-market by paying the toll.
The CHAIWMAN said that the Market Company would not
accept those terms, they had been offered and refused.
Captain KELLY wished to know whether the company
would have the power at the time of a regatta, or upon
Sunday afternoon, of compelling the steam-boat passengers
to leave the bridge, because if they had not that power the
bridge would always be filled with them ?
The CHAIRMAN—The company do not possess any power
cf chat nature.
A SHAREHOLDER deprecated the resolution of the com-
pany to go to law with the Market Company ; he thought
that if it was the right cf that company to have free access
to the bridge they ought to have it.
The CHAIRMAN—The question of right was the real ques-
tion in dispute. The only point was were the market com-
pany to find the means of identifying the passengers, or were
the bridge company to incur the responsibility of refusing to
allow all persons who might be pleased to say they were
steam-boat passengers to go on to the bridge without paying
the toll.
The report was then agreed to, as was also a resolution
authorizing the payment of four per cent. per annum on the
receipts of the company, and also upon the new eighths
shares.
The thanks of the meeting were then given to the chair-
man, and the meeting broke up.

WHITEHAVEN AND FURNESS
JUNCTION RAILWAY.
The ordinary half-yearly meeting of the proprietors of this
company was held yesterday, at the offices of the company,
LoNoTn.hsdle,asiGeEcuinzilETttibheAailletroli;cmatreirambers, Ba,inghall• street ; the Earl of
and the elrveilplo
report,
rem ewa.medhfhtitl icebielreeaddvertisement calling the meeting,
wweet
rmitk ea the h et,h the
following
last extracts
half-yearly
area reported tror h aovveedb,e eans
enttiwreitlh in obtaining
meeting the progress
impeded by the difficulties which were
urachreasne fromme the whole ole of the
whiche
l d pas_it
the
possessionlan d of
requiredthe has landb;e
en these
th
proprietors (with one exception), and upon terms
is
believed are as advantageous to the company as
sibly be expected.
"The whole quantity of land purchased is 370 acres, at a
cost, including compensation for severance and tenant right,
of 36,000/. ; this is exclusive of about twenty-two acres of I
sands, forming part of the Duddon Estuary, the various inte-
rests in which have been purchased at nominal amounts.
" This shows an average of about twelve acres and a quar-
ter to the mile, and an average cost per mile of about 1,1001.,
and from this will have to be deducted the proceeds of the
sale of surplus lands, which have been purchased on account
of their severance, and will be re-sold to the adjoining pro-
prietors,
the company retaining such portions as are required
for stations.
"The whole of the land which has been purchased has not
given rise to one case of litigation or dispute, or of the exer-
cise of the compulsory powers of the Act of Parliament.
" The contracts for the heaviest portions of the line, of
those which may be called the measure of the time required
for the opening of the railway, are all let and in band, and
extend over rather more than fifteen miles and a half of the
line.

"'ro these portions the directors have purposely confined
their present attention, inasmuch as the remaining sixteen
miles and a half of the line may be completed in from six to
eight months from their being commenced ; and, forming as
they do an unconnected link in the conimunicati.m, present
expenditure on this portion of the works would remain un-
necessarily unproductive for a period of several months.
"You are aware that an Act of Parliament was obtained
last session for connecting your line with the Whitehaven
Junction Railway, by means of a tunnel under a part of the
town of Whitehaven. The contract drawings for this tunnel
are in a state of forwardness, and the engineer anticipates
that the contract may be let almost immediately, and com.
pleted by the spring of next year. The estimate for this
work is 25,0001., which is authorised to be raised by an issue
of new shares, but may in the first instance be executed by
means of borrowed capital
" Of the fifteen miles and a half let, more than six miles will
be completed by September in the present year; and, as
this portion will connect Whitehaven with St. Bees, the di-
rectors will have it in their power to consider the expediency
of opening this communication in the ensuing autumn, al-
though they are at present by no means decided as to the
looking to the very short further period
aptolwichyicoht
theirthis p
ste
anticipations of the opening of the whole line
are fixed.
" The remaining nine miles, which are let, are con-
tracted to be finkhed in April, 1848; a,suming the com-
pletion of the Duddon Crossing at the . same period, the
line may be upeued throughout in the spring of the ensuing
year.
" The Whitshayez Junction is at potent open

throughout to Wbitehaven for goods traffic ; and the
Government Inspector is expected on the Ist March. when
the line ill be opened for ptssengers. On the other hand,
the Furness is in active working, both for passengers
and minerals, and its extensions to Ulverstone and Broughton
are expected to be completed at about the same time with
your own line."
The CuAlttmArt said that the report was so full and expla-
natory, that it was unnecessary fur him to say anything fur-
ther. There was every prospect of their being able to open
the line about spring twelve months, as the report stated ; but
it would be necessary to make a call of 41. per share between
this and September, and he anticipated that it would be a
long time ere an additional call should have to be made. He
would conclude by proposing that the report should be re-
ceived, adopted, and circulated.
The motion was unanimously agreed to.
SPECIAL MEETING.
The meeting was then made ,pecial for the purpose of con-
firming resolutions of the board of directors, declaring cer-
tain shares in the company to be forfeited for non-payment
of calls, and authorising the sale or other disposition of such
shares.
A resolution confirmatory of the resolution of the direc-
tors was then, on the motion of Mr. Ktiox, seconded by
Mr. IV ALIIY, unanimously agreed to.
It appeared that the total number of shares was 945, which
stood in the names of 19 shateholders ; 115 of these shares
were the only ones on which would arise a loss to the com-
pany of 21. per share on sale at the present market price.
This having terminated the business of the meeting, a rote
of thanks was, on the motion of Mr. Waley, seconded by Mr.
Bowker, given to the Noble Chairman and directors.
The meeting then separated.

DIRECT LONDON AND PORTS-

-
MOUTH RAILWAY.
The usual half-yearly general meeting of the proprietors
of the Direct London and Portsmouth Railway was held yes-
at the London Tavern, in Bishopsgate-street ; Mr. W. A.
Wilkinson, Chairman of the Board of Directors, in the chair.
The retort stated, that since the last meeting of the pro
prietors, the line had been re-surveyed and the necessary
plans prepared for serving the notices required for obtaining
possession of the land over nearly the whole distance. These
notices were now being served over a portion of the
line, and the directors hoped soon to be in posses-
sion of the land between Dorking and Gomshall,
where the railway was to be used by the Reading,
Guildford, and Reigate Railway Company. A short Bill
authorising a few amendment* of the line, and a road ap-
proach to the proposed station at Dorking, had been prepared
and submitted to Parliament, principally with a view of im-
proving the junctions at Epsom with the Croydon and Ep •
som line, and at Havant with the Portsmouth Extension of the
Brighton and Chichester line. The Bill for securing the amal-
gamation with the London, Brighton, and South Coast Com-
pany, upon terms agreed upon by the respective proprietaries,
had been read a second time, and would shortly be in Com-
mittee. In accordance with the arrangement with the
London, Brighton, and South Coast Railway Company, the
remainder of the shares to complete the capital for this
undertaking had been subscribed for. A vacancy had
occurred in the direction, which had been filled up by the
appointment of John Meeson Parsons, Esq., one of the
auditors. The receipts amounted to 108,4644 15s. Id., and
the expenditure to 53,7881. 4s. 3d., leaving a balance of
54,6761. 10s. 10d. in hand.
The CHAIRMAN, i❑ moving the adoption of the report, con-
tradicted a rumour which had gone abroad that the line was
not to be made. The rumour, no doubt, had arisen from the
fact of there being a Bill before Parliament which, it was
supposed, was for enabling the South-Western Company to
work over the line from Dorking to Portsmouth, but that pro •
vision had been withdrawn.
A PROPRIETOR wished to know what the terms were that
had been agreed upon between this company and the South-
Western.
The CHAIRMAN replied that no terms whatever had been
come to, but the London, Brighton, and South Coast Com-
pany had come to terms with the South-Western.
A PnorquETon hoped that, whatever arrangement might
be come to with the Soutl -Western* the shareholders of the
Portsmouth Direct would have a voice in it.
The CHAIRMAN replied that when the Amalgamation Bill
was passed the Portsmouth Railway would become a
Brighton line, and as the shareholders in the Portsmouth
4 ompany would then be Brighton proprietors, of curse they
would have a voice in everything that could be done. The
Reading, Guildford, and Reigate had power to work over a
portion of the line, but that company was seeking to annul
that power. The proceeding, however, would be strenuously
opposed by this company.
A PPOPRIETOR wished to know when another call would
be made.
The CHAIRMAN replied not just vet. Ample notice would
be given when one was to be made.
The report was adopted, and the meeting separated with
the customary vote of thanks to the chairman.

READING, GUILDFORD, AND
REIGATE RAILWAY.
The half-yearly general meeting of the shareholders in
this company, was held yesterday, at the London Tavern;
David Salamons, Esq" president, in the chair.
The CHAINMAN said, it was with great pleasure he had to
submit to the shareholders at their first half-yearly meeting
the report of their directors, which would inform them that
an arrangement had been entered into with the South.
Eastern Company for leasing their line.—(Hear.)
The SECAZATRY then read the report, which stated the
terms of the arrangement that had been made with the
South-Eastern Company, and which were to the effect that
two directors of that company should be added to the board
of the Reading, Guildford, and Reigate Railway Company;
that the latter company should raise 600,000!. as their capi-
tal, in 40,000 shares of 151. each, guaranteed at five and a
half per cent. from the day that the agreement should be
signed by the South-Eastern Company, who in the interim
were to pay four and a half per cent. The report then
stated that arrangements had been entered into with Mr.
Robert Stephenson to act as their engineer, and that the
directors had found it necessary, in consequence •of
the change in their position with respect to the London and
Portsmouth Railway Company, to amend their Act in cer-
tain particulars.
A statement of the accounts was then read by the Secre-
tary, from which it appeared that the expenditure of the
company was 41,466!. ss. 5d., and their present capital
121,7081. 18s. 4d.
The CHAIRMAN said, that comment on the report must
necessarily be short as it was sufficient to explain to the
meeting all that it was necessary for them to know, namely,
that their property was safe, and that the requirements of
the Act of Parliament had been complied with. The direc-
tors had taken those precautions that would secure the in-
terests of the company in an efficient manner. He trusted
that the arrangement would also prove satisfactory to
the company with which they were associated. When there
line was first opened, the directors had some. doubts as to
whether it was a line calculated to inspire confidence; but
there could be no doubt at the present time that it was one
of the most important lines in the country. They thought,
however, that they were best consulting the interests of the
company by concluding those arrangements with the
South-Eastern Company. It would be well to follow Par-
parliamentary example, and not to refer to past debates or to
what had taken place at former meetings; but he trusted
that they would give the directors credit for a desire to
promote the interests of the company, as they did
did not hurry on these arrangements.—(Hear.) With
these few observations he would beg to move the adoption
of the report. There was one point in connexion with
that report with which they should be acquainted. By the
terms of the arrangement two directors were to be added to
their company. He was sorry that a pressure of business
prevented the South-Eastern Company from naming these
gentlemen, but he could understand from Mr. Small that Mr.
Pritchard and Mr. Gregory were the parties who had been
selected, and he hoped that the meeting would elect these
gentlemen.
The CHAIRMAN, in reply to some questions as to the terms
of the agreement, said that he regretted them was not a
printed report, which would have prevented these categorical
questions, but he could assure the meeting that every inte-
rest was satisfied. They would get 5% per cent., which
was far beyond the ordinary interest at present. As to
the South-Eastern Company, they had another important
point in view, namely, to connect the north of England with
the south ; and there could be no doubt that they would re-
ceive compensation far beyond 51,4 per cent. from the union
with these companies. An expense beyond the sum stated
in the report would be defrayed by the South-Eastern Com-
pany. He could assure the Hon. Proprietors that they need
not go to Parliament for the purpose of sanctioning the agree-
ment.

The report was then adopted.
Messrs. Gregory and Pritchard were elected directors, and
Mr. Small was re-elected. _ _ .

The CHAIRMAN said—With regard to their secretary, his
salary at the last meeting had been fixed at 3001. per annum,
a sum that was far below the value of his services in a situa-
tion that required so much efficiency. He would therefore
wish to ask the meeting to place in the hands of the board
the power of increasing it to 4001. per annum. He did not
wish to fix a higher sum, as the question would harp to come
before the other company.
A motion to that effect was unanimously agreed to.
Mr. CArrEis moved a vote of thanks to the Chairman
and the other directors, for the zeal and efficiency with
which they had discharged their duties.
The motion was carried unanimously.
The CHAIRMAN, in returning thanks, said, " finis coronat
opus." lie trusted that as the barometer of their affairs
rose they would give equal satisfaction.
The meeting then separated.