The Sun.
London, England, 1840-08-28 00:00:00

181 14 0

TENING PD./110N.

(Hear, hear.) We think we have accomplished tai
object, and we strongly recommeed to 3eu to confirm
the agreement which we propose to make. We ece:l-
- believe, that it is both a safe and an equitable
agreement ; we think that it will materially facilitate
and economize the combined working of the two liar.-: ;
but above all we are sure, that we cannot over-rate .
importance of completing that line from Bristol
Exeter, which shall be the means of bringing front a
variety of channels to our own line, the important
traffic of the West of England.—(Loud cheers.)
The Report of the Directors and the statement of
Account, together with a report by Alr. Brunel on the
state of the works, was then read. The following are
abstracts :
The Directors have again the pleasure to report, for
the information of the Proprietors, a steady and consider-
able augmentation of business in every department upon
first six
theportmioonnstohs of the
fraile.ayyweahr.
which have been in use during the
In the interval since the last General Meeting of the
Company the Directors have been enabled to ni
heading
into e suc-
cessive
ivemonnptehnionfghiah ;
as
they
Steventon then ari
uce to
Farringdon Road, 63 miles from London. They have now
ticiinpa
Junr,ted ;
decided to open the line between Bristol and Bath, on the
ag
a3vlasitlabinstant,the
public
The statement of Coaching Revenue to the 301 June,
infogr traffic.ther 75 miles of railway
cat-uprises receipts during the three first months of the
}ear, from 31 miles of railway, to Twyford; during the
two next months from 36 miles, to Reading, and during
one month, from 56 miles, to Steventon. The gross
amount so received is 89,9371. 9s. The number of pas-
sengers conveyed has been 378,736; the aggregate num-
ber of miles travelled 7,888,293 ; furnishing an average
result of 1,171 persons daily travelling the whole distance.
The expenditure on traffic is detailed in the usual form,
and amounts to 43,7491. Os. sd.
The result of the half-year shows a profit of 46,1881.
Bs. 7d., which being added to the former balance of coach.
ing revenue, presents a sum of 116,672/. 12s. Id. at the
credit of the Company.
The Directors regret to mention a loss by the acci-
dental destruction of goods by fire. Every practicable
precaution has since been adopted for the prevention of
similar casualties. The claims of the parties are now
under examination, and a settlement will be made by the •
Directors as early as possible, upon such terms as may
appear to be fair and equitable, after which the tuna will
be carried to account against the revenue balance.
The interest which has been paid to June 30 last, on
loans to the Company, after allowing far all sums received
for interest, shows a total charge of 93,3071. 6i. incurred
under that head, and it seems to the Directors most ad-
visable that a complete liquidation of that charge should
be effected by a transfer of the amount to the debit of the
revenue account, distinctly showing to the public, and es-
' pecially to the loan creditors of the Company, the pecu-
liar security afforded by the proprietors of this undertaking,
who have already faithfully applied the clear working
profits of the railway to discharge all interest on borrowed
money, in preference to distributing an early dividend on
the shares, and accumulating interest against capital.
The further extension of the Line during the presetit six
months will not only contribute to the increased security
and credit of the Company, but must also furnish a
clear residue of profit, which will then be at the disposal of
the Proprietors for remuneration on their own outlay of
capital.
The works on the intermediate Line between Ferriage
don and Bath have been for the most part proceeding satis-
factorily during the last few months. The Report from
the Engineer, which details the state of them, and the
probable period of completion, is submitted for the infor-
mation of the proprietors.
The Directors attach great importance to the next open-
ing of the Railway towards the west, e hich will have the
effact of materially increasing the trade of the whole Line,
as it will leave only 30 miles of road to be travelled by
coaelys le:tween Swindon and Bath.
Up to the present time the coach proprietors have deemed
it their interest to work almost all their coaches upon the
turnpike road between Reading and Bristol. Negotia-
Cons aec now proceeding with them, and it will be the
duty of the Directors to effect such arrangements.
either through their instrumentality, or otherwise, as shall
tea re the greatest traffic to your Lino, and the greatest
Speed and accommodation to the public.
Tee lease of the portion of the Cheltenham and Great
Western Union Railway, between Swindon and Ciren-
cester, which was approved by the Proprietors at a special
meeting held on the 27th Oct. 1837, has been finally
adopted by that Company, to whom the option was left,
and the covenants of the lease being arranged, it will very
shortly receive 'the corporate seal of the two Companiet.
Tne completion of those works may be expected before
the spring of 1841.
At the meeting in February last, the expediency of
renting the Bristol and Exeter Railway was referred to by
the Directors, and the reasans stated for thinVing it might
be beneficial to the interests of:both Companies. Subse-
quent consideration has confirmed that op;inion, and, after
a protracted negotiation, tho terms fot a lease have been
agreed to, subject to the confirmation thereof by the respec-
tive Proprietors of the two Companies. The arrangement
gives the tenantcy of the Bristol and Exeter Railway, with
a double line of rails, and all requisite buildings, stations,
&e. to this Company, until a period of five years after the
entire completion ar,cl opening to Exeter. The proposed
rent is fixed at 50,0001. per annum, together with a toll of
one farthing per mile, travelled by each passenger, and
each ton of merchanClize between Bristol and Bridge-
water. The toll upon any excess above twelve millions of
miles per annum, is to be reduced one-hat The same
proportion of fixed rent and reduction of Toll is to apply
to the mileage beyond Bridgewater, with an iuerease of
rent consequent upon future openings trot exceeding
7,5001. per annum in the whole; partly contingent upon
the final adoption by Government of a Western Port in
the English Channel, for the West India Mail Packet
Station, which is a measure of very great interest to the
undertaking. _ _

The Directors feel confident that many and important
advantages for both parties will
is, on
the confirm
(ion of the lease, founded, as it s, on fair and equitable
conditions. It is calculated to ensure the quick comple-
tion of that work to Exeter, to develope and increase the
traffic, and to economize the working expenses, without
compromising the pecuniary affairs of this
. Companyg,4,ath.e:
any undue responsibility' irrespective of the trade w hien
must assuredly flow to that line from numerous sources.
The Directors of the Bristol and Exeter Railway Com_
pang have undertaken to complete the line to
on er before the Ist of June, 1841.
Some a Iditien must at the same time be made to meet
the cxpendlture on
the forme new works and stations, not contemp-
w hen estimatu was made; and also to
provide for some increased expenses in the general con-
struction. After full cow :Aeration, the Directors think it
will be requisite to create shares of 201. each-37,500 in
number—which Will raise a sum of 750,000/. ; offi2ring to
each Proprietor one new share at par, in respect of art
original 1001. share, or two half-shares of 50/. each.
In the meantime the Directors recommend that power
should be given, by resolution at this meeting, to borrow
the sum of 600,0001. on loan notes, under the Company's
seal, bearing interest at 5 per cent. per annum, payable
halt-yearly, with a covenant to discharge the said loan
notes at fixed periods either in cash, or in the new mort-
gage debentures, at the option of the holder of the loan
note, to be declared one month before its maturity.
The Directors have reason to believe that the amount
may be raised on this security when required ; but as it
must, of course, in some degree be contingent upon the
general state of the money market, it will be for the 111 o-
prictors to consider whether general powers must not bt,. confided to the Board, to enable them, in case of need, to
provide the means of furnishing the locomotive stock wed
completing the works, by making an earlier call on the
new shares, if it shall be found absolutely nee.essary to
have recourse to a quicker redemption of the mortgages,
in order to issue new debentures to the public.
The value of the shares thus proposed to be created with
the prospect of a deferred payment, will be an immediate
benefit to the Proprietors ; and it will be for the meeting
to determine the day on which theoption shall be exercised
by the then registered Proprietors.
The accounts for the half-year are presented in the uittai
form, together with the general abstract of receipt and ex-
penditure from the commencement.

CHARLES RUSSELL, Chairman.
Sir John Flare, Mr. Keyworth, Mr. Brunel, and
others successively addressed the meeting, when the Re-
port was adopted, and a resolution for issuing new
Shares carried unanimously. Votes of thanks were theft
voted to the Chairman, the Board of Directors, and the
Society of Merchants, for the use of the Hall,
and the
meeting broke up.

LLOYD'S SHII PING-(YRIS DAY.)
LoticoN, Are. 28.—\\ Ind, this (lay at noon, ght
S. W. airs.—.Arrived the Ocean, Holland, River Gamlibia.
DEAL, AUG. 27._`~~ind S. sV., light breezes.—Ar-
rived the Bolivar, Brown, from the Cape of Good Hope.
Sailed the Naiad, Lindsay, for South Australia.
LivEtwoot, Arc. 26 —Wind W. S.W.—Arrived the
Regulus, Thompson, from New Orleans ; Liverpool,
Davenport, ditto. Sailed the Thoma Leec Nos-
worthy, Monte Video ; Malcolm.
McFarlis ne, New South
\Vales ; Spencer, Burkett, Calcutta; Aurora, Mendica-
lana, Ilavanrsab ; Harriet and Jessie, 111‘Kawn, Charleston;
Lenobia, Putnam, New York ; Jane, Warner, Boston;
Lockwoods, Stephens, Quebec ; Jessie, Harding, ditto ;
Phcebe, Thompson, ditto. Off-port, the Elvira, for Cal-
cutta; Grace, Antigua; Amelia, Jamaica.
HOLYHEAD, AUG. 26.—Several pieces of balk timber
have been seen off here, and about twenty brought into
the harbour, but they have no particular mark on then),
and are either red or pitch pine.
nellyllLtroottovv, Aiterrefo.
r2d6; .-j-laTahpeutAignnehse,reßinryaansti,nkfrinogm
stSaltae-,
baling struck on the Crow Rock.
QullebreLes.,,
whAietec:
arr2iv7.ec-FhTerhe eyesAtemrdazaoyn,, Broderick,
afterbein gon
shore
on the Stone Banks, is much strained, and was obliged to
throw past of her cargo overboard.

It having been stated in the Morning Post that
a respectable physician had been grossly insulted in, Paris,
epThhye -
and the circumstance having been commented upon, in a
way to lead to an impression that the English residents in
Paris arc exposed to insult, we have been requested by
who
really
)haet occurred.
he
r i
rsed. the
Dr. Loudon, has reason to
si)leoicatneralaiTt As Loudon, to
Loudon, whil.t sitting in the Tuileries
Ga
were indeed addressed by a well-dressed person,
,
state
lie. revaelanguage against the
English ; but his manners and gestures were so peculiar,
~ ~,,r,der ni.aid,
c use of every insulting language
that
the d
docromtor
reply immediately saw that he was insane, and
a fng to him. Mrs. Loudon, however,
theite' l'telilsoc elm' t oi ger ed, n,pti rem::
ne ievnde di:a7tic; loil3a tv‘e. taelrimeee ioi sittinga i%i
dnbee, 1 iaairilg,
was
a r"dm.
cheroda, :v
gh twoiekde
her
protection, and the man retired The circumstance was:
mentioned by Mrs. Loudon, in coman in the course the day ; and, as no story loFea in cparry y, ing it, it was imot-
-
proved upon until it was magnified into a national outrage;
—Galignani's Messenger.