The Sun.
London, England, 1847-02-25 00:00:00

SPECIAL MEETING.

The meeting was then made r 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. Kroax, seconded by
Mr. ALEY, unanimously agreed to.
It appeared that the total number of shares was 945, which
stood in the names of 19 shareholders; 115 of these shares
were the only ones on which would arise a lo .4 to the com-
pany of 21. per share on sale at the present market price.
This having terminated the business of the meeting, a vote
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.—(THIS DAY.)
The usual half-yearly general meeting of the proprietors
of the direct London and Portsmouth Railway, was held this
afternoon at the London Tavern, in Bit,hopsgate-street.
Mr. W. A. Wilkinson. Chairman of the Board of Directors,
in the chair. _ _ _

The report 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
authorizing a few amendments 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 Ilivant 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
Loudon, 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 tilled up by the
appointment of Juhn Meeson Parsons, Esq., one of the
auditors. The receipts amounted to 108,4641. 15s. Id., and
the expenditure to 53,7881. 4e. 3d., leaving a balance of
54,676/. 105. 10d. in hand.

The CHAIRMAN, in 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
supfrosed, was for enabling the South-Western Company to
will 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 PROPRIETOR hoped that whatever arrangement might
be come to with the South 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
Company would then be Brighton proprietors, of course they
would have a voice in everything that could be done. The
Reading, Guildford, and Reigate had power to brick 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 PPORRIRTOR wished to know when another call would
be made?

The CHAIRMAN replied not just yet. 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 ckairman.

READING, GUILDFORD, AND
REIGATE RAILWAY.—(THIS DAY.)
The half-yearly general meeting of the shareholders in
this company, was held to-day, at the London Tavern, David
Salemons!, Esq., president iu the chair.
The Ciima.m.Arr 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 SILCD.STAItY 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, Guiliford, and Reigate Railway Company;
that the latter company should raise 600,0004 as their capi-
tal, in 40,000 shares of 154 each, guarauted 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 Chnipany 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 41,4661. ss. 5d., and their present capital
121,708/. 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. They (the
directors) bad 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. The directors entertained 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, perhaps, to follow
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 that 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 connection 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 vho 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 be regretted there was not a
printed report, which would have prevented these categorical
questions, but be 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 ; but there could be no doubt that they would re-
ceive compensation far beyond 5% 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
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 40W. per ant.um. He did not
wish to fix a higher sum, as the question would have to come
before the other company.
A motion to that effect was unanimously agreed to.
Mr. CAPPEA 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 coronet
opus." Ife trusted that as the barometer of their affairs
ruse they would give equal satisfaction.
The meeting then separated.

ENFIELD 'AND EDMONTON RAIL-

WAY.—(THIS DAY.)
A special general meeting of the shareholders of this Com-
pany was held this day at the London Tavern, Bishopsgate-
street, for the purpose of considering certain proposals made
by the Eastern Counties' Company to purchase cr to work
the line.
The notice calling the meeting having been read,
Captain OWEN, the chairman, said, that on the last occa.
sion on which they had met there he bad mentioned to the
shareholders some correspondence, which had taken place
with reference to the purchase or working of this line. A
preposition hsd been made by the Eastern Counties' Coin_
pany to work the present railway, and an inquiry hsd
been made by this Company as to the working of the
Eastern Counties line. In answer it had been stated
that their working expenses at 4] per cent. The question
for the shareholders was simply as to whether toe line
should be worked by them or purchased. Their interests
ought to be joined, for nothing could take place for the be-
netit of their own line which would not benefit the Eastern
Counties Railway.
A Shareholder inquired what WAS the hone of contention
between the two lines?
Mr. LERCH, at the request of the Chairman, said that the
difficulty was in the price of the land. The difference of the
estimates and the claims made was 3,0001., and that was a
very serious difference. There was no contention with the
Eastern Counties Railway Company itself.
A Shareholder said that the was in reality, whether they
should have an independent line, or merge their line in the
Eastern Counties Railway ?
The CHAIRMAN said that that was the real question.
Mr. WannutGrox said that the Eastern Counties had in
a very kindly spirit offered either to take this line, to work it
at their own rate of mileage, or to supply them with engines,
&c.. at the usual price.
The CUAIRMAti said that these propositions were the ouly

..... u.

ones the shareholders had to consider. The Enfield and Ed-
monton line would of course regulate their fares according to
the rate adopted by the Eastern Counties Company, as it
would not do to let them both work the line and regulate the
fares.
Mr. WADDINGTON said that the Eastern Counties only
desired to deal as fairly ai possible with the Enfield and
Edmonton Railway.
Some considerable discussion ensued here as to the rate of
fare.,, which resulted in the adjournment of the meeting, in
order to make the proposition to the Eastern Counties Rail-
way Company.

VALE OF NEATH RAILWAY.
(THIS DAY.)
The half-yearly meeting of the shareholders of this com-
pany was held at the offices, 449, West Strand, Lord Villiers
in the chair.
The SICRETARY read the following report :
"The directors have much satisfaction in submitting to
the proprietors a statement of their proceedings to the present
time, together with an account of receipts and expenditure,
to the 31st of December last.
" In accordance with the powers given to the directors at
the last meeting of proprietors, a Bill has been brought into
Parliament to authorise the construction of a second Branch
to join the South Wales Railway to the west of the River
Neath ; also a Branch to the Rhygos Collieries and to
Aberdare,
" The directors are also happy to state that they have en-
tered into an agreement with the directors of the South
Wales Railway Company, by which they have secured the
use of the line from the town of Neath to the port of Neath
and Briton Ferry, and that a Bill is now before Parliament
for the purpose of authorising the construction of this branch.
" The proprietors were informed at tbeir last meeting, that
negotiations were in progress for the purpose of disposing of
the shares at that tune unsubseribed for. Your directors
have much pleasure in stating, that the directors of the South
Wales Railway Company have consented to take these shares ;
the deposit has been paid upon them, and the whole of the
capital is now subscribed for.
" The other negotiations, which, as the proprietors are
aware, have been commenced with the directors of the South
%Vales Railway Company, have led to no result."
The Cnalamax moved the adoption of the report, and
then put the resolution to the meeting, which was passed
unanimously.
A resolution was then moved by the Chairman, autho-
rising the payment of interest at five per cent. on all pay-
ments made in anticipation of calls.—Carried.
The CHAIRMAN moved the re-election of the following
retiring directors : —H. A. Bruce, Esq.; Griffith Llewellyn,
Esq. ; and H. Thomas, Esq., which was carried.
Mr. Starting Benson, retiring auditor, was then re,appointed
and the meeting adjourned.

IMPERIAL PARLIAMENT,

(THIS EVENING.)

HOUSE OF LORDS.

The LORD CHANCELLOR took his seat on the Woo]
sack at Five o'clock.

The Earl of CLARENDON laid on the table copies
of letters relating to presentments under the boards of
works in Ireland.

PUBLIC WORKS-COUNTY CLARE.

Lard BROUGHAM wished to ask the Noble Earl if
Captain Wynne's letter to the board of works, with re-
ference to the transactions which had recently taken
place on the public works in the county of Clare, had
been laid on the table ?
The Earl of CLARENDON replied that ithad not.

PUBLIC WORKS--SLIGO.
Lord BROUGHAM would be glad to know if the
statement made with respect to the sons of a clergyman
and a landowner, iu the county Sligo, obtaining employ-
ment as inspectors on the public works in that county,
were true, and if the Government had received any in-
formation on the subject.
The Earl of CLARENDON replied that the Go-
vernment had received no information on the subject,
but if such appointments had been made he saw nothing
objectionable in them if the parties appointed were pro-
perly qualified to discharge the duties of the situation,
and if no local prejudice existed against thier appoint-
ment.