The Sun.
London, England, 1847-09-15 00:00:00

RAILWAY INTELLIGENCE
BOULOGNE AND AMIENS.

LivEarooL, SEPT. 14. This afternoon, at one
o'clock, a special meeting of shareholders in the above
railway was held in the Clarendon Rooms, Liverpool,
for the purpose of taking into consideration the pre-
sent position of the line, and for inquiring into the
causes of the delay in its opening. The chair was
taken by D. Neilson, Esq.
The CHAIRMAN said he consented to occupy the
chair, more for the purpose of carrying out the ob-
jects of the gentlemen who had called the share-
holders together, than for making observations him-
self. He would be glad to hear any shareholder's
observations.

Mr. DAVIS here rose, and said that himself and
some others had been long dissatisfied at the delay in
opening the line, and they had come to the conclusion
to submit the following resolution to the share-
holders :—" That in consideration of the subscribed
capital, the shareholders are surprised at the delay
which has taken place in the opening of the line, and
that a committee be appointed to inquire into its
general management." In consequence of the dis-
satisfaction they felt, they had caused blr. Beloe, an
accountant, to look into the state of the accounts,
and other matters, and that gentleman would be
able to give the meeting some information on the
subject.
The resolution having been seconded,
Mr. BELOE said that Mr. Davis having applied to
him to examine the statutes, in consequence of the
dissatisfaction they felt, he had looked through the
statutes of foreign railways, and he was satisfied that
I no railway ever wanted investigation more than the
Boulogne and Amiens. From the accounts pub-
lished, it appeared that the directors had a balance of
400,0001. For the first year it appeared there was a
credit of .5,0001., or five per cent., and for the second
year a credit of 10,0001,, or two per cent. During
the first year it appeared that the directors had in-
vested in French Rentes 4,000,000 f. at five per cent.,
and 450,000 f. in Exchequer-bills, so that the amount
carried forward to the credit of interest was the inte-
rest on these two sums alone, for the rest there was
no interest at all. During the second year, how-
ever, it appeared that these investments must have
been sold, for there was no interest at all from them
accounted for. The accounts altogether appeared to
him very unsatisfactory. They were unaudited, nor
was there any name or date to them. He consi-
dered that if a committee were appointed to examine
them it would be of much benefit to the shareholders.
Mr. ROBERTS wished to know if the line was near
completion. He had heard it said that it would be
completed in the month of November. It did appear
to him extraordinary that if the line was nearly com-
pleted and ready for opening, there should be the large
balance of 400,C001. in hand. He complained that
the English shareholders were not properly repre-
sented in this country. There ought to be a local
and controlling board for the large amount of capital
subscribed in this country, and he thought that sub-
ject ought to be a prominent point in any course
which might be taken.
A SHAREHOLDER observed that there was a board
of directors in London.

Mr. ROBERTS—Had they stated meetings, and did
they act generally ?
Another SHAREHOLDER—He believed they did
not meet. The acting was in the hands of the Paris
board.

Itonms—lt had been generally understood
that they were protected by the English board. It
would now seem, from the answers given, that it was
not so.

Mr. BELOE, in answer to a question put, said a
letter had been received stating that it was expected a
part of the line to Nessels, seven miles from Boulogne,
would be opened on the 15th of October, and the rest
of the line next spring.
A SHAREHOLDER—Had the English directors not
the power of sending their votes to the Paris board ?
Mr. BELOE—No, they had no vote by proxy.
They must go to Paris if they wish to vote.
The resolution was then put and carried unani-
mously, and Messrs. Louis Mozley, W. Davies, P.
Deveaux, George Armstrong, and Daniel Neilson
were appointed a committee to carry out the objects
of the resolution, and confer and correspond with any
committee in London or Paris.

The meeting then separated.
ST. ANDREW'S AND QUEBEC RAILROAD
COMPANY.

We learn from advices received by the Cambria,
that Mr. Laurie, who superintended the construction
of most of the railways in the United States, had
proceeded from Boston, with Captain Robinson, one
of the directors, to superintend the prosecution of
the works upon the railway from St. Andrew's to
Woodstock, being the first section of the great line
from St. Andrew's to Quebec. Spite of the bad
times, almost all the local deposits had been duly paid
into the bank.