The Sun.
London, England, 1840-01-31 00:00:00

ten. s • rearrem

PRIco 5 i.

all the contracts had been made was absurd, beat tuse if
thosa contracts were improvidoof, which be held t ;h em to
be, they ought to be set aside. Looking at t/ le large
funds that had been placed in the hands G f the D ire ctors
be considered the works upon the line the worst Ittc.. hat
eves seen, and as to the contracts, they were t. be most
improvident he had ever witnessed. Nothing but investi-
gation would satisfy him.
Mr. RASTRICE trusted the meeting would irnpot n td tha
paper.
The CHAIRMAN wished to knew what Mr. Troup r u oved ?
Mr. Tiny said the effect of his motion would I x that
the report he printed and that the meeting adjourn..
A PROI-RIETOR thought that the meeting ought V pro-
coed to the other business of the day.
The CHAIRMAN then pot the original mction, t h at the
report be printed, and a copy sent to every Pro pi ietor,
and also the amendment; and declaicd the form er to be
carried unanimously.
On the motion of Mr. R. TODD, a resolution ; car-
ried, to the effect that every contract that had be et I en-
tered into by the Directors had been fairly and p, ro perly
conducted, and had given the highest satis action to the
proprietors, as well as the price which had been gi• cc a for
the land.
Mr. BLEADON was quite satisfied, that althouL Or the
Directors had given a large price for soine of the :land,
they would sell a great portion of it again to consid iet .able
advantage.
On the motion of Mr. M'LEAN, the Deputy-Chaiirt aan,
144 shares, on which only the first and second callst !nave
been paid, were declared forfeited.
On the motion of Mr. WINTER, the Directors who mist
out by rotation were re-elected.
The CHAIRMAN said, that negotiations were still pt.nd-
ing between the Company and the Greenwich Rstil way
Company, relative to the terminus at London Briege.
He had been summoned to attend before the House of
Commons on Tuesday next, in order to state what at sea im-
modations were contemplated by the Company at tha t -ter-
minus. All he wanted was the authority of the meet ing
to take such steps as might be advisable ; this he 'was
happy to say would not render it necessary to call upon-the
proprietors in a pecuniary point of view.
Mr. GOLDSMID moved that the Directors have pow er to
make such arrangements with the Croydon Railway (k m-
pany as would tend to the convenience of the public, and
the benefit of the Company.
A PROPRIETOR was in hopes that not many years would
elapse before the Brighton Railway Company would have
a terminus of its own. He thought for the people at; the
West-end, London-bridge was not a very convenient ter-
minus.—( Hear, hear.)

The CHAIRMAN said that the present arrangements would
not interfere with their having a West end terminus pro-
viding a necessity arose for it.
The resolution was carried unanimously.
The CHAIRMAN said they now came to money matters,
and he must observe that it would be quite impossible to
carry on the works without making another call. They
were entitled to borrow money as soon as half their caoitsl
was paid up, and as from the number of shares in arrear
that had not yet taken place, he thought it would be
necessary to call for a further instalment per share.
A PROPRIETOR observed, that the more fair ar.d straight-
forward course would be to compel the parties that were
in arrear to pay up the instalments which were still due.
He though it exceedingly unfair that the parties who bad
paid up all the demands hitherto made upon them should
be required to pay any additional sum on their shares.
The CHAIRMAN would be very happy if the meeting
would authorise the Directors to adopt coercive measures.
A PROPRIETOR moved the Directors be instructed to
take coercive measures to compel parties in arrears to pay
up their instalments.—( Hear, hear.)
The motion, having been seconded, was carried unani-
mously.

The resolution was then put, that the Directors be
authorised to borrow and take up at interest a stun not ex-
coedit).- 600,0001.
Mr. STOREY, of Brighton, begged leave to oppose the
motion, on the ground of its being premature. There
were a large body of Proprietors anxious to pay up their
shares, and who did not wish to have recourse to the ad-
ditional er.pense of a loan. He had himself forty shares,
and he was ready to pay any advance that might be deemed
necessary.

The CHAIRMAN observed that Mr. Story would incur
no loss by the proposed loan. He might lay out the
money he wished to advance in some way equally profi•-
able, and at the same rate at which the loan would be
raised.
Mr. Storey thenlwithdrew his opposition to the motion.
In answer to another question the CHAIRMAN said the
shareholders were liable to calls to the amount of 251.
each, there having being only 251. each paid, but gentle-
men might make themselves perfectly easy, as it was quite
certain they would never be called upon to pay that sum.
The CHAIRMAN said the next proposition was with re-
spect to the proposed line from Portsmouth to Horsham,
which their line came within ten miles of, and the expenses
which it would entail upon them would not exceed 1501. or
2001. to have the plans deposited.
A PROPRIETOR said there was another line at present
making from Portsmouth to Gosport, and he did not think
they would be justified in going to any expense on the
subject.

ihe CnAIRMAN pointed out the advantages which would
result to their line from the Portsmouth and Horsham line
being taken up, and would leave it to the meeting to make
what election they thought proper.
Mr. STOREY said the line contemplated would bring a
very increased traffic to their line, as it would enable
parties to avoid a very considerable detour. They might
receive some thousands per cent. profit on the contemplated
outlay.

A 'PROPRIETOR said ha was connected with the Brighton
Direction, and firmly believing that the Horsham and Ports-
mouth Company was merely a Stock Exchange job, he
should be sorry to think that the present Company mixed
up their names with it in any way,
The CHAIRMAN did not believe that there was any thing
of Stock Exchange jobbing in the contemplated line.
It was then resolved that the Company be authorized to
co-operate with the Portsmouth and Horsham line, but
that no expenses be incurred by them beyond the 1501.
A vote of thanks was then carried by acelAmation to the
Directors, and also a vote of thanks to the Engineer ; and
after thanks had been briefly returned, the meeting sepa-
rated.