The Sun.
London, England, 1847-02-27 00:00:00

BANKING DETAITMINT.

Proprietors' capital.. 14,553,000
Rest • . 3,1.63,132
Public deposits (in-
alading Exchequer,
Commissioners of
National Debt, Sav-
ings-banks, and Di-
vidend accounts) .. 5,869,523
Dther deposits • ..... 8,837,093
Seven day and other
bills • ........ .... 839,491

33.762,239

Dated the 25th day of February,

Government securi-

ties (including Dead

Weight Annuity) 11,990,079
Other securities 15,039,339
Notes ......... .
Gold and silver coin 756,296

# 33,762,239
ht. MARSHALL, Chief Cashier.
1847.

A T NPATAI 'WU tiM??A. Ylv " -
The ordinary half-yearly meeting of the shareholders in
this company was held yesterday at the offices, 449, West
Strand; Lord Courtown, in the chair.
The SECSETART then read the following report :
"The directors, on the first occasion of meeting the pro-
prietors after their re-election, avail themselves of the oppor-
tunity afforded them to express their sincere thanks for this
gratifying mark of renewed confidence.
" The report of the directors, which the proprietors
adopted at the late general meeting, so fully indicated the
course which they deem the must expedient to pursue, in
furtherance of the important trust confided to them, as to
render unnecessary any detailed statement from them on the
present occasion.
"They have not subsequently seen any reason to depart
from the general line of policy therein proposed to be followed,
but as the long adjournment of the first meeting from
the 21st of December to the 17th of Febraary has necessarily
delayed, to some extent, the progress of the company's
operations, the directors, governed by the intention expressed
in their first report of making no call upon the share-
holders beyond the amount which the exigencies of the
company at any time actually require, have considered that
they wav, without danger or embarrassment of the in-
terests of the undertaking, reduce the proposed amount of
the first call from 30s. to 10s. per share. They have ac-
cordingly made a call of 102. per share, payable on or before
the 10th day of April next.
"The preliminaries for setting out the line have been com-
menced both between Enniscorthy and Wexford, and Kings-
town and Wicklow; and in the latter case have been so far
advanced that the works may be proceeded with as soon us
the directors deem.it expedient to contract for them. They
have been much gratified by the zealous co-operation and
assistance which their officers have received from the noble-
men, gentlemen, and others, interested in the land through
which the railway will pass, in these portions of the line.
" The Amendment Act, the application for which to Parlia-
ment the proprietors sanctioned at the late general meeting,
has passed standing orders without opposition.
"The accounts of the company have been audited sub-
sequently to the late meeting, and the report of the auditors
is as follows. It is trusted that the pecuniary position of the
company's affairs,_ as therein shown, will be deemed highly
satisfactory by the proprietors.
"AUDITORS' RIPORT.
" We, the undersigned, the auditors duly appointed to
audit the accounts of the Waterford, Wexford, Wicklow, and
Dublin Railway Company, do report that the accounts have
been submitted to us, and that we have examined the same.
with the vouchers of each separate account, and have found
them in all respects perfectly accurate and correct. We think
it right to add, that the system upon which these accounts
have been kept appears to us to be highly satisfactory, and
to reflect great credit upon all concerned.
" E. S. CODD, Auditors."
" F. W. SLADE,
The accounts laid before the meeting stated the amount of
receipts, deposits on shares, to be 112,779/.
Expenses before obtaining the Act to be .........£3.5,414
Expenses after obtaining the Act 4,703
Total amount of expenditure £40,117
Leaving a balance of 72,6621.
Mr. BI‘DoNALD moved that the report should be adopted
and printed.

DICKSON felt he would not be doing his duty to him-
self and his fellow-shareholders if he did not protest against
the report. It stated that the accounts appeared to the
auditors to be highly satisfactory. No doubt they would ap-
pear satisfactory to them ant the directors; but these auditors
had not been appointed by this meeting, and the feeling could
not be suppressed beyond the room that this auditing had
taken place in secrecy. He was convinced that had auditors
been appointed by the meeting, they would not have been
allowed entrance into the directors' private r oom. Here,
then, they had 16,0001., Parliamentary agents and law ex-
penses huddled up together in one sum ; and here was
10,0001. engineering expenses, huddled up in another sum,
without one word of explanation as to details. Why,
they did not know how their money was being
spent. He himself had heard—he did not make the
charge—that large sums had been given away in hush
money, for secret service, and such like, in Ireland. If things
were stated more satisfactorily, the effect would be more satis-
faction. He then found fault with the small amount of
money called for by the directors—a sum amounting to
some 20,0001.—which would not make a mile, instead of
130; it would not bore their tunnel through Brayhead. He
thought that the call ought to have been something like 51.
a share.

Mr. RETNoam thought, with the gentleman who had
spoken, that if one of the auditors had been a gentleman ap•
pointed on the part of the discontented shareholders, of
whom he was one, the report would have had more weight
with the meeting. That report was merely an echo of the
report put forward by the directors on the 21st December
last. By the report of the 21st December the directors had
72,925/. in hand. He now asked by what common-sense or
mercy the directors had, within 48 hours, made a call upon
the shares, making up an additional sum of 40,0001. ? But
he was afraid that, as respected the answer, they might as
well " call spirits from the vasty deep."—(Laughter.)
He wished to know to whom the .50,000/. had been lent at
4 per cent. interest?
Lord COURTOWN declined to answer him.
Mr. REYNOLD, after remarking on the salary allowed to
the Secretary as being too large, regretted that the directors
had not met the shareholders in a more amicable spirit. He
concluded by moving, as an amendment, that the report of the
directors was not satisfactory, and therefore ought to be re-
jected.

Mr. DICKSON seconded it.
Captain WARRDIGTON asked why, when so large S pro-
portion of shares were unsubscribed for, the directors had not
called a meeting of the shareholders and made it known?
Lord COURTOWN—We did not feel it our duty.
Captain WASRINGTON —What have the directors done with
the reserved shares ?
The CHAIRMAN declined to answer.
Captain WARRINGTON asked whether it wee keeping faith

with Parliament to borrow a large sum of money to comply
with the standing orders?
The CnAlaaia►N declined to answer.
After some observations from Dr. GRAY,
The CHAILWAN put the amendment, and declared it was
lost.

The original motion was then put and carried.
Mr. Coxi proposed a vote of thanks to the Noble Chair-
man and his colleagues in the direction, which was seconded,
and carried.
The meeting then separated.

LYNN AND ELY RAILWAY.
The half-yearly general meeting of the proprietors of the
Lynn and Ely Railway was held yesterday morning, at the
London Tavern ; Mr. Henry Lacey, Deputy-Chairman of the
Board of Directors in the chair.
The report stated that at the general meeting of share-
holders, in August last, thedirectors expressed their anticipa-
tion that the portion of the line between Lynn and Dereham
Market would shortly be ready for opening. This anticipation
was realised; for, atter inspection and approval by the Go-
vernment officer, this part of the line was opened for
traffic on the 27th of October. It was never expected that a
large trade could be carried on upon so short a length of
railway. The object was more for the sake of acquiring
a staff for the working of longer distances, and for testing
the qualities of the men and machinery. than for any
purposes of profit. The directors, however, had the sa-
tisfaction of stating, that during the short period which had
since elapsed, and that, too, in the midst of a severe winter,
and whilst all the usual and ordinary means of travelling
still exist, the traffic had quite come up to their expecta-
tions. By arrangement with the directors of the other lines,
constituting with this the East Anglian Railways, engines
and carriages had been ordered. Four engines of the very
best construction had been already received from Messrs.
Sharp, Brothers, of Manchester. Ile directors need hardly
saw that their quality cannot be exceeded. Others will
shortly be delivered. The companies were in possession of
eight first-class, seven second-class, and ten third-
class passenger carriages. Others were in course of delivery.
In order to meet the great difficulty at present existing of
obtaining railway plant, the directors had established work-
shops fur the construction of waggons and trucks for the
conveyance of goods. It was fully expected that the line
will be completed, through to Ely, by the end of the month
of July. The Bill for amalgamating this company
with the Lynn and Dereham and the Ely and llunting-
don Companies, and the Bills for the extension lines and
other works promoted by this company, had severally passed
the Standing Orders' Committee of the House of Commons.
Touching these Bills, it was gratifying to your directors, that
the proprietors had sanctioned the amalgamation of the three
compinies, and also that it had been the pleasure of the pro-
prietors to accede to the terms of the lease of these railways
to the Eastern Counties Company . With respect to the ex-
tensions and other works, it was already understood that
these would become, as by agreement, the property of the
latter company. The receipts amounted to 326,1151., and
the expenditure to 301,354/. ; leaving a balance of 24,7611. in
hand.

In answer to questions,
The CLIAIRMAN announced that the agreement for lease
had been settled by the Eastern Counties Company, and it
would be sealed and delivered to-morrow. The directors did
not anticipate making another call for the present
The report was adopted, and the retiring auditors and di-
rectors re-elected.

Tha sum of 6001. was voted to the directors for their ser-
vices in the past year.
A vote of thanks to the chairman and directors was pro-
posed, which was met by an amendment, put forward by
the section of shareholders who disapprove of the leasing to
the Eastern Counties Company, that the directors be omitted
from the resolution.

The amendment was, however, negatived, and the original
motion carried.

LYNN AND .)EREIIAM RAILWAY.
The half-yearly meeting of the proprietors of this line was
then held ; Mr. Lacy in the chair.
The report was precisely the same as the one read at the
previous meeting. The receipts amounted to 224,909/. Os. 10(1.,
and the expenditure to 149,L231. Os. 10d., leaving a balance
of 75,3861. _

The report was adopted, and the other formal matters gone
through.
The sum of 600/. was voted to the directors for their ser-
vices in the past year.

ELY AND HUNTINGDON RAILWAY.
The half-yearly meeting of the proprietors of this line was
then held ; Mr. Lacy in the chair.
The report stated that the directors confidently anticipated
that the portion of this railway, between St. Ives and Hun-
tingdon, would be opened for traffic in the month of May
next. In pursuance of the provisions of the Companies
Clauses Consolidation Act, 1845, two of the directors retire
from office. Mr. Lacy and Mr. Reynolds retire on this occa-
si,n, but were re-eligible, and were willing to act again.
W. Tinker, Esq., one of the auditors, also retired, but was
eligible for re-election, and offered himself accordingly.
The receipts amounted to 110,985/. 155., and the expenditure
to 97,5931., leaving a balance of 13,392/. 15s. in hand.
The report was unanimously adopted, and the retiring
directors and auditors having been re-elected, the sum of
600/. was voted to the directors for their services in the past
year.