The Sun.
London, England, 1847-09-10 00:00:00

Til.g NUN, LONDON

RAILWAY INTELLIGENCE.
NORTH. BRITISH RAILWAY.

On Wedt:falay the half-yearly general meeting of
the shareholders of this company was held in Tait',
New Royal Hotel, Edinburgh. In the absence of
Mr. John Learmonth, the chairman of the company,
from indisposition, the chair was taken by Mr. E.
Henderson, the vice-chairman.
After the advertisement calling the meeting had
been read, and the company's seal affixed to the re
gistered list of shareholders,
The SECRETARY then read the report by the direc-
tors, of which the following is an abstract :—Al-
though the revenue has equalled the expectations of
the directors, under the circumstances in which the
line was placed by the untoward accidents of last
year, yet it has not nearly realised what it otherwise
would have done. The occurrence of those accidents.
the general depression of trade, the incomplete state
of the communication between Berwick and New-
castle, and the serious interruption to the traffic on
the Dalkeith branch for several months, while the
alterations on it were being made, were the causes of
retarding the development of the traffic to a consider-
able extent. Ttiese, however, were now happily re-
moved. The free revenue of the bygone half-year would
yield a dividend of lls. 3d. per share on the original
stock, and 2s. 3d. per share on the Dalkeith
stock. But, looking to the circumstances which have
been mentioned, and to the certainty of the large in-
crease of traffic for the current half year, the directors
would recommend that a portion of that revenue
should be anticipated, and that a dividend be declared
of 12s. Gd. per share on the original stock of 251.,
and 2s. Gd. per share on the Dalkeith stock of 51.,
payable on the 20th day of September current. With
regard to the state and progress of the works, the
directors are happy to be able to say, that on the
main line and branches, so far as opened, they are in
a satisfactory condition. The Dalkeith branch has
been fully adapted for locomotives, and four miles of
the Hawick line have been opened in connexion with
it. The works on the Hawick branch are in a very
forward state, and the directors hope to open a great
portion of it in the beginning of next year. The
Dunse, North Berwick, and Kelso branches are pro-
ceeding more slowly ; and the directors have thought
it prudent to delay contracting for the Jedburgh and
Selkirk branches until the ensuing spring. in con-
formity with the resolutions of the shareholders, the
directors applied to Parliament last session for Acts
to lay the Hawick and Haddington branches with
two lines of rails instead of one ; to alter and convert
the Leith branch into a locomotive line ; to acquire
additional station room in Edinburgh ; and to extend
the Hawick branch to Carlisle. They obtained the
Act for the first of these objects, but they were
successfully opposed in the others—not (as the di-
rectors have reason to believe) because what they
sought to attain was unimportant, but solely because
Parliament thought it desirable to limit the number
and extent of new railways, until the extraordinary
demand for money should be diminished. The di-
rectors still consider these measures to be of import-
ance to the company. In particular from the increase
in the traffic, and the addition which must be made
to it on the opening of the Hawick line, more station
room at Edinburgh is indispensable. In like manner,
the difficulty of getting goods conveyed along the
Leith branch is so great, that the directors are even
now obliged to have a large quantity of them carted
to Edinburgh and put on the railway there. The
inconvenience and the cost of this is such that the
directors do not hesitate in recommending that the
application to Parliament should be renewed in the
ensuing session in regard to both these matters, and
that they should be empowered at the same time to
give better accommodation to the town of Dalkeith,
the trade with which is very considerable, and is at
present not sufficiently provided for. They make
this recommendation the more readily, as the execu-
tion of the works contemplated will involve only a
small amount of capital, not exceeding 200,0001. The
question as to proceeding with the Carlisle Extension
Act again has been felt by the directors to be one of
very great difficulty, and they have resolved to bring
it again before the shareholders, and to recommend that
a renewed application for an Act be made in the ensuing
session of Parliament. Should they determine toproceed
with the measure next session the shares will be issued to
those holders of the present stock who may desire to
take them ; and in that case the directors would re-
commend that the deposit made last year should be
placed, without deduction, to the account of the
deposit which would be required for next session.
But should an opposite course be followed, and the
measure be delayed, then it will be matter for consi-
deration, whether the last deposit should be returned
minus the expenses, or whether new stock in this
company, of limited amount, should not be created
and issued to the present holders of Carlisle Exten-
sion, under such conditions as may be deemed neces •
sary. In consequence of the Committee on the Bill
which was passed last session, for improving the
Hawick and Haddington branches, and other subsi•
diary purposes, having reduced the capital to be raised
under it from 700,0001. to .550,000/., it becomes
necessary either to restrict the third shares, which
were created under that Bill, to 71. per share, or to
authorise the directors to raise a portion of the money
allowed to be borrowed on mortgage by enlarging
the amount of these shares to 8/. Cs. Bd. This appears
to the directors to be the most convenient mode of
proceeding, and they trust it will meet with the
approval of the shareholders. It is gratifying to the
directors to have it in their power to state that, not-
withstanding the pressure upon the money market,
the calls which they have been obliged to make have
been well responded to.
The following is an abstract of the revenue account
of the North British Railway, as at 31st July, 1847:

Revenue.
Balance at 31st January, 1847, after £ s. d.
paying dividend
Amount of revenue for half-year end-
ing 31st Jul}, 1847

£48,028 2 1

Expenditure.
Connected with Loco-

motive Department,
including coke, coal, £ s. d.
wages, &c 10,084 3 11
Ditto passenger ditto 5,402 15 2
Ditto goods ditto 4,469 15 9
General expenses, di-
rection, &c.
Line and stations 294 18 9

£21,592 14 3
Interest on loans .... 4,734 14 11
26,327 9 2

Free revenue
_£21,700. 12 11

The CHAIRMAN said, that in accordance with com-
mon usage, he now rose to move that the report be
approved. He would then, after hearing the opinion
on the various matters contained in the report, move
a series of resolutions which he trusted would meet
with their approval. The first thing that naturally
called for attention was the anticipation of a divi-
dend. He must say, that in general this was a bad
plan. On this occasion they only agreed to do it
after the most mature deliberation ; and he conceived,
as it was an exception to the common rule, that it
would never occur again, and for the best of all rea-
sons—that it would not be required.—(Hear.) He
might mention, in corroboration of this, that the in-
come of the last five weeks, as put against the same
five weeks of the previous year, showed an increase of
3,Bssl.—(Applause.) lle might mention that they
had carried during the last year, of first-class pas-
sengers, 138,476 ; of second-class passengers, 339,796;
and of third-class passengers, 832,833 ; or in all
1,312,155 passengers ; and this notwithstanding the
interruption of the line, and all without accident.
He might mention at the same time that the works on
this line, as well as the machinery, were in a most
efficient
state ; in fact, he might say that they were
equal,linewas
if not superior, to what they were at the time the
opened ; and he could assure them that there
was no
profit in allowing the stock of the
now
the way-lay of
the railway to go into disrepair.
the Bills which they had introduced
came to
hadintto Parliament
during the last session ; and he
that they really could not take much credit to to
oemsay
them-
selves for getting through those very well ; in fact,
he might say they had sustained a total defeat, let
them look at the matter in any way that they liked.
They were before a peculiar Committee, and it was
with difficulty that they obtained even a portion of
the sum expended before the Board of Trade. It was
not to be expected, therefore, that they should succeed,
more especially at a time when there was such a
pressure upon the money market ; and hence they
had lost the Bill for this extensive scheme, the Bill
for converting the Leith branch into a locomotive
line, and the Bill for acquiring additional station
room in Edinburgh. lie bad great pleasure in now
asking them that the connexion with Leith should
take place, and that the connexion with Dalkeith
should take place; that the directors should now be
empowered to go to Parliament to get these Bills,
and to raise an amount of capital not exceeding
200,000/. The extension to Carlisle was a more
critical point. The directors have left this
matter entirely in the hands of the share-
holders. It was unquestionably a subject
involved in much difficulty ; but his own opinion
distinctly was, that the best way to proceed
was to give the directors authority, either in the next
or succeeding session of Parliament, to prosecute this
Bill. They might depend upon it that the directors
were as unwilling as any of the shareholders to put
their hands in their pockets ; but their opinion deci-
dedly was, that it would be for the advantage of the
company to secure that line. Therefore, if they gave
that power to the directors, they need have little
doubt but that it would be used in such a way as
would promote the interests of the shareholders.
The directors thought on the whole that the third
shares should be maintained at 81- 6s, gd. There

was, perhaps, a little difference as to that, but, taking
everything into consideration, it was reckoned the
most honourable course to pursue.—(Cheers.) He
could not conclude the few remarks be had made
without expressing his extreme regret at the absence
of their respected chairMan.—(Hear, hear.) He was
sure that they would all agree with him in saying
that no man had done so much for the general interests
of the railway world as be had done. He could well
remember that at a time when railways were at a
greater discount than they are now, Mr. Learmonth,
with a courage unequalled and an ability unexampled,
came forward in their behalf, when most men would
have hesitated and shrunk back.—(Hear.)
had prevented him from being present; but he
trusted that before another meeting he would be
able to take the chair which he had so well filled.

After a good deal of discussion, it was resolved not
to proceed with the Bill for the Carlisle Extension
scheme next session ; but to proceed, however, with
the Bill for the Leith branch, and the Bill for the
improvement of the Edinburgh station. Mr. Ayton,
advocate, disapproved the plan of anticipating a divi-
dend ; and Mr. Watson, of Leeds, took ocasion to
censure the conduct of the directors for having re-
fused Mr. Hudson's last offer of eight per cent.
without duly bringing it before the shareholders. He
said that the otl'er of Mr. Hudson was enough to
make their mouths water when compared with the
dividend now declared. Mr. Anderson justified the
directors for refusing Mr. lludson's offer, and said
that far better amalgamations presented themselves
with the Edinburgh and Glasgow and Scottith Cen-
tral Railways ; and these he believed were at present
under consideration. This statement of Mr. Ander-
son's called up the chairman, who mentioned that a
project of amalgamation with the Edinburgh and
Glasgow was at present going on, but it was not yet
sufficiently matured to allow him to make the par-
ticulars known. A long discussion ensued as to what
was to be done with the Carlisle Extension shares.
Ultimately this matter was left to the serious atten-
tion of the directors. The third shares, the directors
suggested, should be maintained at 81. 6s. Bd. In
conclusion, the motion of Mr. Blackadder, to stop the
running of Sunday trains, was lost by a majority of
1,442 to 127 votes.

SOUTH AMERICA.
LIVERPOOL, TiIIIRSDAY.

By the Swordfish, Captain Green, we have advices
from Pernambuco to the 30th of July, and. Bahia to
the 24th of July. The Peterel packet for Falmouth
left on the 29th. She Crings no later news from the
River Plate. There is no political news from the
Brazils.
COMMERCIAL INTELLIGENCE.

PERNAMBUCO, JULY 30.

Cotton.—Since our last circular a good deal was
done in this article, at 6,000 reis to 6,200 reis, but
latterly, in consequence of the arrival of several Spa-
niards, prices have been pushed up to present quota-
tions. The supplies from the country during the last
fortnight have been very limited, owing to the rainy
weather. First quality, 6,900 to 7,000 reis per arroba,
or 7 5-32 d. to 7id. per lb.
Sugars.—Our stock is now principally confined to
muscavadoes ; of whites in first and second hands
there does not exist, we think, more than 1,200 to
1,500 cases and 2,000 to 3,000 bags, and of muscova-
does may be about 3,000 cases and 10,000 bags. We
have had agreat deal of wet weather, and our sugars,
as usual, at this late period of the season, are becoming
damp and inferior.
Hides—Dry salted continue in little request.
Ruin-22 deg., 42,000 to 45,000 reis per pipe.
Freights—Last rates for Liverpool, id. and 5 per
cent. per. lb. cotton ; sugar, 3/. 10s. and 3/. and 5 per
cent.; Channel, and a market in the United King-
dom, 4/. and 5 per cent.; sugar in cases, 15 per cent.
less for bags ; additional rates if sent from the Chan-
nel to the Continent; 4/. and 5 per cent. for cases
obtainable for Trieste and other Mediterranean ports.
No vessel in port disengaged.
Exchange—Large transactions took place at the
early part of the month at 26d., it has since rallied.
and little or no money obtainable to-day under 26id.
to 27d.

BAHIA TO JULY 24.

Last sale of codfish, 2,242 tubs, from Jersey, per
Olive Branch, sold at 13,250 reis, and haddock at
8,500 reis ; wines dull of sale ; salt, 600 reis ; jerked
beef, 2,000 to 2,600 reis; new Irish butter, 800 reis ;
Dutch cheeses, 1,250 reis ; oil, 2,500 reis ; coals,
12,000 reis ; stock of sugar, 14,400 cases, prices
2,000 and 2,500 reis per arroba, and in demand.
Freights, 80s. Cowes, for orders, 70s. London direct.
Exchange, 27d.

SUDDEN DEATH FROM EXCITEMENT.—Last night
Mr. J. Payne held an inquest at the Half-way-House,
Webber-street, Blackfriars•road, on the body of Timothy
O'Herlihy, u travelling hawker. The deceased, it ap-
peared, on Tuesday last returned home in perfect health,
but became a little excited at his dinner not being ready,
he sat down before the fire, but was suddenly seized
with a fit and fell back in a dying state. Mr. Smith, a
surgeon, promptly attended, but the deceased expired i❑
a few minutes—the cause being the rupture of a blood
vessel from over-excitement. Vet dict—" Death from
natural causes."

LAMBETH RAGGED SCHOOLS.—Yesterday evening
a public meeting was held at the Baptist Chapel, Water-
loo-road, for the purpose of devising means to extend
the operation of the school iu order to meet the require-
ments of the poor and populous district of the New Cut
The building was filled with a respectable auditory.
The chair was occupied by the Hon. Arthur Kinnaird.
The report read by the secretary showed that the school
was first opened in the Waterloo road in November
last, through the assistance of the Ragged School Union,
the committee of which presented the promoters with a
donation of 151. The attendance upon the first night
included 160 children, and 30 teachers. The funds of
the school would not, in the first instance, admit of its
being opened for more than three nights in the week,
but now it was opened five days for 51 hours each day ;
thus affording to the scholars 33 hours per week of reli-
gious and secular instruction. The average attendance
of scholars was now 45, mid of Sunday scholars 94. An
examination into the history of the children showed
that several of them had been discharged from prison,
and that others had led an abandoned and idle life, from
which they had been rescued. The Rev. Mr. Watt,
Dr. Alliot, Mr. Butler, and other gentlemen having
its ad-
dressed the meeting, resolutions, approving of object,
were unanimously passed.
ENLARGEMENT OF THE BARRACKS AT WOOLWICII.
—Plans have been prepared, and the contracts are now
ready to be entered into, for the erection of a spacious
range of buildings, suitable for officers' quarters on the
east side of the Royal Artillery Barracks, on the piece
of ground known as the garden attached to the residence
of Sir John Webb, K.C.H., Director- General of the
Ordnance Medical Department at Woolwich, and en-
tering from the east end of the Royal Artillery Barracks
a considerable distance in a southerly direction. The
erection of the buildings is to be proceeded with 'time-
diately, as the quarters at present occupied by the officers
in the lung range of barracks are to be converted into
rooms for the men previous to the augmentation of the
Royal Artillery, about to take place to the extent, it is
said, of 40 companies of about 100 men each, making, in
all, an addition of 4,000 men to the strength of this corps.
DEPARTURE OP PRINCE WALDEMAR.—HISRoyaI
Highness Prince Waldemar of Prussia, accompanied by
Baron Lauer Munchausen and Count Groeben, left
London yesterday on his return to Germany. His
Royal Highness made farewell visits to Lord John Rus •
sell and the other Ministers the day of his departure,
and the royal Prince and attendants were engaged a long
period in inspecting the collection of paintings belonging
to Sir Robert Pee), in Whitehall-gardens. His Royal
Highness Prince George of Cambridge called on Prince
Waldemar to take farewell. His Excellency Baron
Brunnow, Major- General Sir Harry Smith, and a long
list of distinguished personages in town also paid fare-
well visits to the Prince, at his hotel, prior to his
leaving for the Continent. The Prince left, with his
retinue, soon after three o'clock, for the London-bridge
terminus of the South-Eastern Railway, where Chevalier
llebeler, the Prussian Consul-General, was in waiting
to receive the royal Prince, who proceeded to Ramsgato
by the 4 30 o'clock train, and intended to remain there
for the night, and embark to-day for Ostend. His Royal
highness, previous to quitting London, expressed his
deep sense of the cordial reception he had met with while
sojourning in this country.
THE LATE ACCIDENT AT TIIE PEEBLES ELEC-
TION.—Our readers will no doubt recollect that during
the recent election of Member of Parliament for the
county of Peebles, that from the great weight upon the
hustings they gave way, and many gentlemen, the sup-
porters of the respective candidates, were seriously in-
jured; and amongst them was John Veitch, Esq., of
Woodside, and it is with the most sincere regret that we
learn, that although he had the assistance of the most
able surgeons, their efforts to save his valuable life were
unavailing, as
.he breathed his last on Saturday, the 4th
andg linstant.oocmonshi
aslttsone
been
theorenel
acauseHs supporter,te
0 has
aea fdt
was wont for many yf:'irhdmies
circlehlaa sm
yearsnsittne adw
takenshtdeath staunch
anich he
ae
active part in the local politics of the town of Leith,
where, as a merchant, he realised an ample independ-
ence; en
maintain
ce d
popularwhe int was
opinions, by
no
o h
e means
f
sd
saofrew forward a publicly
ics the lto
champion of Reform, and he has lived to see these opi-
nions fully developed, and his country released from
Tory misrule. He was a person of more than ordinar •
strength of mind ; and although at the advanced age 21
three score and ten, he was as active as if he had not
.str to kenow that
general
seen -forty summers. It is a pleasing satisfaction to his
numerous friends and political adherent
he died as he lived, an Christian.exemplaryllLlvAy_r
THE EASTERN COUNTIES' n
dissatisfaction which has been produced by the increased
fares imposed by the Eastern Counties Company, has
led to such a demonstration as will doubtless be attended
with beneficial results. A requisition, calling upon the
Royston and Hitchin Railway Company to prosecute the
project for the extension of their line to Cambridge,
with vigour and energy, has been very numerously and
respectably signed, and we understand that a public
meeting upon the same subject will shortly be held.—
Cambridge Advertiser.
GLASGOW PIG IRON MARKET, SEPT. 7.—The
market is firmer this week, but little business doing.
Sales have been made at 675. 6d. for mixed Nos., up to
70s. for all No. I.—Glasgow Chronicle.