The Sun.
London, England, 1847-09-11 00:00:00

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~47 . - '

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RAILWAY INTELLIGENCE:- ,-' • '
GREAT SOUTHERN AND WESTERN.
The half-yearly meeting of this company was hev:_ - .:
on Wednesday, at Dublin ; Mr. G. Carr in the Fhb:'" ',---
The SECRETARY read the report, which Staled tliatl .`'4'll kw:
they had, a double line of railway opened to Bally-
brophy, a distance of 92 miles, including the Carlow
branch. The first portion of the main trunk line
from Cherryville to Maryborough had been at work
for about two months, and the receipts had proved
very satisfactory. The line to Thurles and Carlow, a
distance of 110 miles, being now nearly completed,
the directors assure the proprietors that the cost will
not exceed 13,0001. a mile, including stations, but not
' including the working stock. Contracts had been let
' for the portion of the line between Thurles and Cork,
78 miles in length. The directors feel every confi-
dence that the working expenses will not exceed
those of the best regulated lines in England, and as-
suming them at the high rate of 50 per cent. on the
receipts, the existing traffic on that portion of the
line now opened would yield a handsome return on
its cost. A goods' :station, constructed on the most
improved principle, is now nearly completed at the
King's-bridge terminus. A year's experience of the
working cf the line proved the sound judgment of the en-
gineer in the substantial execution of the work, and
in adopting a rail of such strength as to insure a safe
and smooth road, and which, though costly in the first
instance, was certain to prove ultimately a great
economy. Not a single accident had occurred to in-
terrupt the regularity of the trains, and the traffic had
been conducted in a manner to give general satisfac-
tion. No agreement had yet been concluded for the
conveyance of mails, the amour, t claimed for the car-
riage of them by the company being about 10,000/.
The carrying stock now was ample and in good order,
and they had a sufficient number of engines for the
demand ; also additional engines w. ere now in course
of construction. The Bill for a branch to Tullamore
had received the royal assent last session, and steps
were being taken to expedite its consaruction. They
hoped to be enabled to run trains the whole way from
Dublin to Limerick by the close of the present year.
Agreements had been concluded for the purchase of
land on the river Lee, at Cork, sufficient for the ter-
minus there, possessing a long quay, where steamers
of 800 tons could moor within a fe% r yards of the
railway. The directors had obtained a lot in of 500,0001.
to enable them to carry on the works with all pos-
sible rapidity. They were bound to call up from
the proprietors an equivalent sum to that ad-
vanced by the Loan Commissioners. Every effort
had been made to render the calls as littale onerous as
possible to the shareholders. The directors do not
anticipate more than one call in the present year,
which, with the instalments of the Goverament loan,
would, it was thought, furnish sufficient funds to
carry on with spirit the works to Cork. The line
had been partially open for little more than a year for
public traffic, and notwithstanding all the difficulties
and extent of public distress, the weekly receipts had
increased. The directors felt warranted in stating
that there was every ground for increased confidence
that this railway would ultimately prove one of the
most sound and beneficial investments in the United
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Kingdom.
The capital account showed that 1,951,241/. had
been received, and 1,876,3261. expended, leaving a
balance in hand of 74,915/.
The engineer's report stated that the pottion of
the railway at present open was in a permanent and
satisfactory state ; that there was no oscillation of
the trains when proceeding at a high speed; that the
line would be completed by November from Dublin
to the junction of the Waterford and Limerick Rail-
way, which would complete the railway communica-
tion from Dublin to Limerick ; that the works be-
tween Thurles and Cork were proceeding rapidly,
although the contractor had encountered rather serious
obstructions in obtaining possession of the land.
The CHAIRMAN adverted to the distressed state of
the country experienced within the past year, and tile
consequent depression of trade and commerce ; that a
I portion of the railway had been opened in that in-
auspicious period fer public traffic. Notwithstandin g
the falling. off in the transmission of agricultural pro-
duce, and nearly the destruction of the general tram (a
in many parts of the country, the weekly returns ha d
increased satisfactorily. He called attention to a
statement in the report of the recent meeting of thy'
London and North-Western Company, which, among
other causes, assigned for the falling off in the profits
the loss of the goods' traffic with Ireland. If that
I company felt such effects from the misfortunes of the
country what must be the loss of traffic sustained by
the Great Southern and Western, which entirely de-
pended on the prosperity of Ireland ? Considering
these circumstances, he felt satisfied that their under-
taking would not only prove a secure investment, but
a profitable enterprise. From the direction of their
line they had no occasion to dread competition,
as all tributary lines would be of advantage to it ;
the directors would, therefore, feel it to be their duty
to encourage and support all legitimate projects for
branches to their line. He then adverted to an intev•
view he had had with Lord John Russell respecting
the proposed grant of Government loans to certain
Irish railways to enable them to carry on the works,
and he was sure the meeting would join him in the
expression of his thanks to the Noble Lord for his
conduct on that occasion. The Premier said he con-
sidered that Ireland had suffered much and long from
ages of mistaken policy and bad government, and it
was their duty to repair those injuries as speedily as
they could. He (the Chairman) believed that Irish.
railways would be of infinite service in removing, to
a certain extent, the complaint of absenteeism ; that
when they could cheaply and expeditiously visit tb*ir
properties they would do so. He remarked, in co n-
elusion, that out of calls amounting to 1,600,0001.,
there was due but 16,0001., or 1 per cent., which, be
said, proved the character of the proprietary, and tht,ir
' confidence in the success of the undertaking. He then
moved the adoption of the report and accounts.
Mr. BOOTHBY, in seconding the motion, said that
although he was a member of the board, he had not
interfered much in the management, which was con-
ducted chiefly by the resident gentlemen. He be-
lieved the statements they had heard from the directors
and engineer were perfectly honest, and that the
whole cost of the line, including the working stock,
would not exceed 15,000/. per mile. He then ex-
pressed his satisfaction at the state of the line, and
said that he understood from good authority that the
several working expenses of this railway were lower
than those in England, with the exception of the item
for coke, but to counterbalance that they had no charge
for duty on passengers or county-rate.
Resolutions were passed adopting the report and
accounts, re-electing the retiring directors, and autho-
rising a full report of the proceedings to be circulated
amongst the shareholders.
Thanks were voted to the Chairman, and the meet-
ing separated.