The Sun.
London, England, 1847-03-08 00:00:00

£122 1 2 £122 1 2

£2,921 12 9 £7,574 11 1 £4,652 18 4
These results the commissioner attributed, in a great degree,
to the increased activity given to business generally in the
eastern townships by the prospect of the early construction
of the railway, and to the operation of the system of pro-
duets payments, which had enabled every industrious pur-
chaser to fulfil in part his engagements. Its bene-
ficial effects might be further judged of, from the cir-
cumstance of purchasers . having in many cases,
preferred in this mode of payment, to anticipate
the period at which the claims of the company became due.
The expenses for management in Canada, inclusive of sums
due for the service of 1845, had been 1,7701. 13s. 9d., H.C.,
and for statute labour, and other ordinary current expenses,
inclusive of several claims for previous years to 5821. Bs. 9d.,
leaving a balance of income over the proper annual expendi-
ture of 5,2211. Bs. 7d., H.C., or 4,699/. ss. 10d. sterling.
" The assets in: Canada, at 31st December, 1846, as com-
pared with the previous year, were—
Fer 1845. For 1846.

Cash £426 . 894
Produce
Cotton factory
Railway Shares deposit 230 2,400
Bils and Notes... 1,086
945
- 2.031 2,985
3,864 7,509
Less received from England 1,800 Stg. 2,000

£3,860 X 5,509
With respect to the expenditure in London, the directors had
only to remark, that the utmost economy had been observed,
and the total outlay, as shown by the accounts, amounts to
31:91. 6s. 'id. In their last annuli report the directors drew
the attention of the proprietors to the prospects of the St.
Liwrence and Atlantic Railway, and they had now the plea-
sure to announce to the proprietors the commencement
of tin.; important work ; notwithstanding the very grave
obstacles with which this enterprise had had to contend,
arising from the apprehended difficulties with the United
States, now happily dispelled ; and also from the panic
which had overtaken almost every one of the railways
projected at the same time. Nothing, the directors felt,
could afford stronger evidence of the value of this great work
than the simple fact, that it had been proceeded with
almost exclusively on colonial support, after the de-
termined opposition, and final withdrawal of the greater
proportion of those who had taken shares in Eng-
land; and who, it was probable, conceived it to be
classed with the other ephemeral projects of 1845.
The proprietors might rest assured that although, from their
present engagements in promotion of objects vitally impor-
tant to the company, the directors deemed it inexpedient to
attempt to undertake further charges on the company's re-
venue; yet the proprietors might be assured that the
earliest moment would be adopted for attempting a renewal
of interest payments. The commissioner of the company,
Mr. Galt, was now in this country, it having been deemed
important by the directors to require his presence for com-
munication with them relative to the prospective operations
of the company. The directors regretted to announce the
lamented death of P. M. Stewart, Esq., M.P., one of the members
of their board, the vacancy occasioned by which it was now
the duty of the proprietors to fill. The directors who retired
by rotation were W. P. Crawford, Eaq., R. Ellice, Esq., E. W.
Mills, Esq., T. Poynder, Esq. ; and R. Carter, Esq., auditor.
The following gentlemen offered themselves for re- election,
Russell Ellice, Esq., E. W. Mills, Esq., Thomas Povrder,
Esq., as directors; Robert Carter, Esq., auditor. The follow-
ing gentlemen were also candidates :—Thomas IL Brooking,
Esq., George Pemberton, Esq., John White, Esq., as directors ;
Wm. Chapman, Esq., as auditor, in place ofT.H.llrooking, Esq.
The following abstract of the British American Land Com-
pany's London Cash Account for the year 1846, was laid
before the meeting:—
Dr. 1846.
Balance at bankers 31st December,
1845 £259 11 6
Cash received for the Commissioner

... ........ .....,..
to be repaid to him in Canada 112 17 9
364 days' interest on 1,000/. Ex-
chequer-bill 22 1 9
Cash for letter of credit, Fo. 112 5 0 0
Do. 113 l5 0 0
Do. 114 3 0 0

23 0 0

Cash for 2,000/. Exchequer-bill,
sold at 10s. premium, less com-
mission 2,051 5 0
364 dayb' interest on 1,000/. Ex-
chequer-bill " 22 1 9
Remittance by Commissioner on
T. Willis
Cash for Bth call on 20 shares and
interest on which the dividend
of 1839 is paid (see below) 9B 7 2

£2,617 14 11