The Sun.
London, England, 1847-11-29 00:00:00

SOUTH-WESTERN RAILWAY.

A special general meeting of this company was
held at the station, Nine Elms, on Saturday, at one
o'clock, Mr. W. J. Chaplin in the chair, to consider
a report to be submitted by the directors upon the
following subjects, and to decide upon the measures
t o be adopted with reference to them :
" 1. The re-introduction into Parliament in the en-
suing session of the Salisbury and Yeovil Extension,
Exeter, Yeovil, and Dorchester, Blandford Branch,
and Taw Vale Railway Leasing Bills, all which Bills
were suspended in the last session, under the resolu-
tions of Parliament, passed on the 10th of June last,
and are privileged to be re-introduced in the next
session, on the terms of these resolutions.

" 2. The making by this company a subscription
towards the making of railways from the Windsor,
Staines, and South-Western Railway to Slough, with
a deviation in the same line near Staines, from Wim-
bledon to Epsom, and from the proposed terminus of
the Exeter, Yeovil, and Dorchester Railway at
Exeter, to join the Exeter and Crediton line near
Cowley Bridge, Exeter.
" 3. The making of further arrangements with the
London, Brighton, and South Coast, and Direct
London and Portsmouth Railway Companies.
"4. The acquiring of powers by this company to
subscribe towards, and lease or purchase the Exeter
and Crediton and Taw Vale Railways ; to become
amalgamated with, or complete the purchase of the
Southampton and Dorchester Railway an Branches,
and with reference to this company's interest and pro-
ceedings as regards steam navigation."
The report, which was a voluminous one, stated,
amongst other matters, that the capital for the line
between Salisbury and Exeter had been considerably
reduced by the withdrawal of branches, would not
exceed 2,500,0001. The directors recommended the
prosecution of this line, and also the creation of 161.
13s. 4d. in respect of each sum of 50/., which would
raise the necessary capital. On the present payment
of 1/. 13s. 4d. per share, they proposed, in conse-
quence of the pressure, a payment of 7 per cent., to
be guaranteed as a preferential dividend, the entire
amount of such dividends to be returned without de-
duction, and with interest at the same rate, in case
the directors should not acquire, in the year
1848, power to raise any further capital.
No call beyond the deposit to be made on
the Ist July, 1849, by which time they anti-
cipated the money market would have recovered its
ordinary condition. Therefore the rate of interest
would not apply beyond the first sum.
The Cnatama's addressed the meeting. He said
the proposition made by the Chancellor of the Ex-
chequer on Fridaylleft the shareholders the option of
either abandoning or proceeding with the Salisbury
and Exeter, and other Bills only partially proceeded
with. The subjects of which Bins should proceed
and those which should not would be referred to the
Committee of the Chancellor of the Exchequer, and
he trusted they would be enabled, by show-
ing themselves ready to proceed, to in-
duce that tribunal to report favourably of their
projects. Unless they proceeded in the
present
session they would lose all the money they
had expended on their incomplete projects ; they
would be wanting in moral courage if they did not
do so.—(Hear.) They had already 180 miles of
railway, and. unlike many other companies, they had
sio guarantees to meet, save what might arise out of
their earnings; and then their expenditure was
moderate. He was happy to inform them that the
like to the York-road would be opened before June.
'i'he: Windsor and Staines, the Chertsey, and the
Salisbury and Brighton lines, would be opened about
the same time. To show that their new lines were
remunerative, he had only to quote the recent re-
ceipts. They had expended 255,1071. on the Dorset
line ; the returns for the six months ending the 30th
of October were 10,46.51. Taking the working ex-
penses at forty per cent., the return to the share-
holders would he 5/, 16s. per cent., the Southamp-
ton and Dorchester 41. 55., and the Richmond, 5/. 4s.
On the motion that the report be received,

Mr. A. Iloima moved an amendment, to the effect
that looking at the present depression, the Bills re-
ferred to shall not be proceeded with, especially as the
towns between Salisbury and Exeter were either
now accommodated by existing lines, or by those
about to be made.

This led to a prolonged and animated discussion—
a few gentlemen urging that the company would
entail certain ruin upon itself if it extended itself
into a territory now occupied, and from which they
could not anticipate much profit ; whilst, on the
other hand, a vast number of the speakers contended
that the line to Exeter could not fail to prove remu-
nerative, and besides that, it would be folly now,
when the Bill was actually in the House
c
of Lords, lose courage ; the more espe-
iall to
y as their
defer
eirsuccess was almost certain. If
they were t
proceeding they would lose all
they had expended,
be enabled
render it very doubtful
w
whether they
rl at any future time to
Parliament obtain the consent ofiatent to such a measure.
Western
Let the South•
urged one propriet)r,
anddeservesto the name it bore,
its way to the extreme of
Cop not until it stretched
rnwall on one hand and
Dover on the other.
Six voted for the amendment, and against it a
sea of hands were held up.
The report was consequently received.
Power was conferred to carry out the other matters
mentioned above, and a vote of thanks having been
passed to the Chairman and directors, the meeting
four o'cicck.
.separated at
_____

BRISTOL SUGAR MARKET, Nov. 26.—The busi-
ness of the week has been limited, chiefly owing to the
poor assortment at market, as the demand continues
eery good. The refined market is very steady.—Bristol
ifercury.
FRE,NCTI PLATS.—The French Plays open early in
December, at the lanai place of performance, the St.
James's Theatre. Mr. Mitchell has not been inactive
during the recess ; for among the engagements are
named the celebrated Mdlles. Nathalie, Berthe, .Lagier,
and Desir4., together with Messrs. Lerisser, Alcide
Tousez, and Cartigny. The tragedy of Antigone, from
the
d Greek, is to be perff.rmed, with the entire of Men-
ialsotin's music, and all the principal novelties of the
risian theatre will follow in rapid succession. There
is every reason to expect a brilliant and advantageous
season.