The Sun.
London, England, 1846-08-28 00:00:00

pears well the report which has seasion for three_ 1
our worthy Chairman, as as A
satisfgctory si could Ist.
been read by the secretary, are as .
to me that the obsetions that have fallen from authorised, by ar. :satireting. to
.rs that the
they have been very ono- .Jattle to fight, and that
y
....cessful in that battle. Gentle-
beP a
directorstedpossibility, h( aC had
I:en= animal that is said to have nine
llttLter)—and, so in this case, there were nine
men, th(etraeui.:
c
iovt ne s
nnsungd o
of
lines s
those
with
eightw hairceh a
cotuura directorslly
and
finallyh ad
disposed
con-
tend,aoudfn
a‘d. gyre "Hey, a
ryt the circumstances,
hear.")
adr.t a nAbe. an t
of, if I understand the report correctly.—(Applause.)
Mr. BAXTER—That is perfectly correct.
Sir J. DOBSON—And with respect to the remaining
one, though it survives, if I understand the report cor-
rectly, in one half, or moiety of it, we are interested.
The arrangement that has been made gives us an in-
terest in one side of our line, or border ; and upon the
other we have an absolute interest, and the only matter
that remains is to get these two lines, and there seems
to be very little doubt that we shall be able in the ensuing
session of Parliament to obtain a Bill to carry that into
effect. I think, therefore, that lam entitled to say that
the report is highly satisfactory, and for that reason
I shall take leave to move that it be adopted, and the
terms in which I shall move its adoption are these—
" That the report be adopted, and that the provisional
directors be authorised to take steps for the immediate
prosecution, in the next session, of such further applica-
tions to Parliament as they may think advisable, and
generally to treat with any other companies or parties
upon any matter which in their judgment they may con-
sider beneficial to the interest of the shareholders."
Gentlemen, I shall place perfect reliance in the directors,
and I think that the majority at least of us who are here
assembled will take the same view of the question.
Captain LAWES seconded the resolution, which was
put and unanimously carried.
In reply to a SHAREHOLDER,
The CHAIRMAN said—No further deposits will be
required for the next session of Parliament.—(Hear.)
Mr. KITCHINOR—I
,beg to move a vote of thanks to
the directors for their honest, zealous, discreet, and
proper conduct to the present time—(Cheers)—which I
am sure convinces the meeting that their subsequent
conduct will be worthy of the confidence of the share-
holders generally.—(Cheers.)
Mr. CARDEN having seconded the resolution, it was
put, and unanimously carried amid loud cheers. In re-
sponding thereto,
The CHAIRMAN said—Gentlemen, on the part of my
colleagues and myself, I return you our most grateful
acknowledgments for your kindness in looking upon our
exertions in the way that you have done. You may rely
upon it that our future exertions will be stimulated by
your kindness on this occasion. I have given indivi-
dually twenty months hard work to this line—(Cheers)
—almost without being absent a day, and I have been
assisted by other gentlemen who have been equally in-
terested with myself in the success of this undertaking;
and we now beg to return you our most grateful thanks
for the great kindness which you have manifested to,
wards us on this, as well as every other, occasion.
The meeting then separated.

WHITEHAVEN AND FUR:
JLTNCTION RAILWAY. _

The ordinary half-yearly meeting of this Company
was yesterday held at the offices of the Company, No. 1,
Guildhall Chambers, Basinghall•street, London.
The chair was taken at one o'clock precisely, by
James Clay, Esq.
The SECRETARY having read the advertisement con-
vening the meeting, proceeded to read the report, of
which the following is an abstract :
The progress which the directors have to report
during the past six months is less than they were led to
expect, and is owing to the unprecedented difficulties
with which they have had to contend in obtaining pos-
session of the land.
" They have, however, within a short period, completed
the purchase of the land for upwards of thirteen miles
of the line, and upon this portion the works are in
progress.
" Within the next few weeks nearly the whole of the
remainder of the land will be obtained, as the difficulties
in making the arrangements have been mainly overcome
in the effect of the purchases just completed.
"Arrangements have also been made for the imme-
diate commencement of the heaviest portions of the
earthwork and masonry at various points on the line.
" The timber for the Duddon viaduct having been
contracted for, and the plans decided upon, this important
part of the works will be at once commenced.
" An agreement has been concluded with the Fur-
ness Railway Company for the use of their line, which
has access to extensive spoil banks, which the directors
have power to remove, and which will materially facili-
tate the speedy completion of the earthwork of this por-
tion of the line.
" A contract has been made, on advantageous terms,
for the purchase of the rails, and the delivery thereof
will be made as required.
" The directors have to announce, that, during the
present session of Parliament, the royal assent has been
given to an Act authorizing a deviation of the line near
Kirksanton, by which a considerable saving of expense
will be effected, and the line be improved; and the Act
also enables the Company to make an extension from
the Whitehaven terminus to a junction with the White-
haven and Maryport Railway, thus opening an impor-
tant and direct communication with Scotland and the
north of Ireland, as well as with Newcastle and the
north eastern districts, to complete which this was the
only link remaining to be sanctioned by Parliament
" The traffic is greatly increasing in connexion with
the port of Whitehaven; and looking to the increased
facilities which it will derive from the construction of
this line, the directors are unchanged in their opinion
that the Whitehaven and Furness Line will give ample
remuneration to the shareholders for the comparatively
small expenditure required to complete the line.
" The rejection by the Standing Order Committee of
the Bill for the proposed Lancashire Extension, has
been already announced to the shareholders, as also
the dissolution of the rival company, by whom the
opposition was originated and supported.
"By the company's Act of this session the directors
are empowered to pay interest on the calls until the
opening of the line. This the directors propose to do at
the rate of four per cent. on the deposit and calls already
paid; and the first half-yearly payment of interest will
be made on the sth day of January next. No share-
holder will, however, be entitled to interest upon
deposit and calls so long as a call on any share regis-
tered in his name remains in arrear."
The following statement of receipts and expenditure
up to 30th June last was also laid before the meeting:—
Dr. X. s. d.
To Amount expended to 31st Dec., 1845 8,799 0 7
To Amount expended to 30th June, 1846 :
Engineering and surveying £325 16 8
Parliamentary expenses, on
account
Directors 3OO 0 0
Rent of Offices 52 10 0
Advertising •.. 38 11 1
Stationery and Printing 6O 3 2
Secretary and Clerk's Sala-
ries, and Office Expenses 214 3 8

1,491

10,290
Balance 56,655

Cr. £66,945
By amount received to 31st Dec., 1845 £50,757
By amounts received to 30th June,

1846 :
On account of first call on
2,321 shares £6,963 0 0
On account of second call on
4,543 shares..
Interest
Transfer fees

9,086 0 0
119 3 3
19 15 0

16,187

£66,945

Deposited with London Joint Stock Bank
at Interest 45,000
Cash at Bankers 11,655

£56,655

The report was then received and adopted, after a
short discussion, which arose on the subject of the slow
progress of the works on the line.
Some discussion then arose upon the non-payment of
the calls, of which there were 4,149 defaulters on the
first, and 12,507 on the second call, which ended in
Mr. LEVY moving a resolution to the effect, " That a
circular be sent to all those persons who had not paid
their calls, informing them that if all arrears were not
paid up by the 15th of October, legal measures should be
taken to enforce the same."

Mr. WAYLEY seconded the resolution, which was car-
ried unanimously.
It was then proposed that the Earl of Lonsdale, Peter
Fisher, Esq., James Clay, Esq., Stephen Philips, E.q.,
and Matthias Atwood, Esq., be elected as directors of the
Company.
Mr. BURT moved, as an amendment, that three gen-
tlemen, Mr. Hones, Mr. Ballantine, and Mr. Harling,
shareholders of the Company, be nominated, in conjunc-
tion with the Earl of Lonsdalo and James Clay, Esq., as
directors of the Company.

Mr. LEVY thought it not very business-like to propose
parties to the meeting of whom they knew nothing.
After a somewhat stormy discussion, Mr. Burt refus-
ing to withdraw his amendment, a scrutiny of votes was
taken, when there appeared—
For the amendment 240
For the original resolution
Majority.

Two auditors were appointed, a vote of thanks was
given to the directors and the chairman, and the meeting
broke up.

LYNN AND ELY RAILWAY
COMPANY.
The half-yearly meeting of this company took place
yesterday at the London Tavern ; Sir W. Folkes in the
chair.

The following report was read:—
The directors have every reason to believe that they
will be able to opr:n for traffic the portion of the line be-
tween Lynn and Downham—a distance of 11 miles—in
the course of next month. The contractor has engaged
to finish the portion of line between Ely and LittAeport—
a distance of 4 miles—by the 30th of November next,
and there will then remain a length of about 8 miles,
which would be finished at the same period as the rest of
the line, but for the works connected with the rivers
Ouse and Wissey.
" In pursuance of the provisions of the Act of In-
corporation, and of the resolutions of the special general
meeting of proprietors, held on the 17th day of June
last, the directors have proceeded to borrow money upon
debentures, in lieu of making, for the present, any
further calls upon the proprietors.
" The proprietors will recollect that the directors were

- ..viny in the present

ah.
...)111 for amalgamating this company with the
.e.ty and Huntingdon and Lynn and Dereham Railway
Companies.
" 2d. A Bill for extending the Wisbech Branch to
March.
" 3d. A Bill for extending the Wisbech Branch to
Spalding.
" With regard to the first-mentioned Bill, the direc-
tors would refer the :proprietors to the following para-
graph in their report to the half-yearly general meeting,
held on the 26th day of February last :
" ' The Bill for amalgamating this Company with the
Lynn and Dereham and Ely and Huntingdon Rail-
way Companies, has also been introduced into the
House of Commons. As, however, the amalga-
mation was not agreed upon until the 31st of
December last, the Parliamentary notices for the Bill
could not be given until after the time prescribed by the
standing orders had expired. The Standing Orders'
Committee have therefore necessarily reported to the
House this non-compliance with their regulations, but
there is every reason to hope that, as the Bill affects no
interests but those of the proprietors in the respective
companies, the Select Committee, to whom this Bill has
been referred, will recommend that the standing orders
be in this case dispensed with.'
"The Select Committee, contrary to the sanguine ex-
pectations of the directors, declined to recommend that
the standing orders should be dispensed with, and the
Bill was therefore lost for the present session. The
directors will, however, take care that proper steps are
adopted in the next session for bringing in a Bill for an
amalgamation—a measure essential to the interests of
the three companies.
" The Bills for the extension lines to March and
Spalding passed through the Standing Orders' Com-
mittee of both Houses of Parliament, and through all
their stages in the House of Lords.
" The Bill for the extension to March was withdrawn,
in pursuance of an agreement entered into by the direc-
tors with the promoters of the Wisbech, St. Ives, and
Cambridge Railway, and the Eastern Counties Company,
as the purchasers of that line, by which agreement the
use of that line is secured to this company upon advan-
tageous terms.
" The Bill for the extension line to Spalding was most
unexpectedly rejected by the Committee of the House
of Commons, although strenuously supported by the
Eastern Counties Company, with whom the directors
had entered into most satisfactory arrangements with
regard to the line.
" The lines from Manchester by way of Buxton, Mat-
lock, Ambergate, Nottingham, and Grantham to Spal-
ding, having received Parliamentary sanction in the
present session, the necessity that exists for filling up
the gap between Spalding and Wisbech, and thus com-
pleting a direct communication between Norwich and
Manchester becomes more than ever apparent, and this
subject will receive the serious and careful consideration
of the directors.

" The cash accounts to the 31st of July last have been
iubmitted to, and approved by the auditors."
The following is a statement of the cash account:—
RECEIPTS.

Shareholders for calls .Z 163,002 10 0
Ditto for interest on calls
Ditto for calls paid in advance 6,965 0 0
On debentures 76,600 0 0