The Sun.
London, England, 1848-06-02 00:00:00

IMO 92bWon

SUN OFFICE, Seven o' Clock.

RAILWAY COMMITTEES.
(THIS DAY.)

GROUP No. 3.—ILLNCHESTER, BUXTON, MATLOCK.,
AND MIDLAND BRANCHES.—Case for the promoters re-
sumed. and evidence taken in its favour.
GROUP No. 4.—OXFORD, WORCESTER, AND WOL.
TERIIiMPTON.—The Bill of this company, for making
certain deviations and giving power to the Shrewsbury
and Birmingham and Birmiagham, Wolverhampton,
and Dudley Railway Companies to contribute and make
arrangements, was recommitted for the purpose of in-
troducing a clause relative to the raising and disposal of
the capital.
BreatiNsault AND OM/ORD.—The Committee passed
the above company's Bills, but deferred the considera-
tion of the clauses.
GROUP No. 4.—ROYSTON AND HITCHIN.—The Op-
position of the Eastern Counties Company to this com-
pany's extension to Cambridge was opened by Mr. James.
GROUP No. 6.— WINDSOR, STAINES, AND SOUTH-
WESTEEN AMENDMENT.—PreambIe passed and clauses
considered.
GREAT WESTERN.—The Committee passed the above
company's Bill for making a branch from Slough to
Windsor, and the clauses having been considered and
agreed to, the Chairman was instructed,to report the
same to the House.
GROUP No. S.—LONDON AND SOUTH-WESTERN.—
The Committee were engaged the whole day with evi-
dence in favour of this company's Bill for purchasing
the Taw Vole Railway and Dock.
GROUP, No. 10.— SCOTTISH CENTRAL.—The case
for the Bill to authorise the Caledonian, Lancaster, and
Carlisle and London and North-Western :Companies
jointly to lease the Scottish Central line was opened and
. closed, but the Committee postponed their decision till
Monday .
GROUP N. 13.—WtsaAw AND COLTNESS.—The
Committee passed the above company's Bill for making
certain deviations and connecting branches, and consi-
dered the clauses.

ELECTION COMMITTEE.
(THIS DAY.)
DUBLIN.

The scrutiny case was resumed this morning, and an
objection was taken against a number of voters, on the
ground that they had neglected to pay a certain muni-
cipal rate, which deprived them of the right of voting.
Mr. ROWE, on behalf of the sitting Member, insisted
that the objection could not be sustained, inasmuch as
the rate was not legally declared.
Mr. MURPHY, 02., on the other side, argued that the
municipal authorities had the power to make the rate.
After considerable argument, pro.and con., the Com-
mittee adjourned to take time to consider the point.

COURSE OF EXCHA
Amatentam 12
Ditto, at sight • • ....
13.Aterdain .. •••• •• • •
haitssrerp • • .. • • • • ••
11,unburgh . • ...• ]I.B. 13 1314

DA.
rLibrana.r..•• •• •• •• •• •.
eghors ...• •• • • •• •.••

Maples •••.••• • .. .. .. _...
Palermo, par 0z.... • • .. _
Lisboa .••••••• • • • • • • • • 51%

Shona
Paris, 3 days' sight ...• 25 55
Ditto, •••• • • • • ...... 26
Marseilles •••• • • • ..... 26

Rio Janeiro • • ...... • • 24

tourdeaux........ •
Frankfort ea Maine....
Peter sburgh, Sil. Itble . •
I..eviiu • - .• • • • • • • .• ••
Vienna, effec. ilo • • • • • .
Trieste, ditto.... • • • ...
Madrid • • • • • • • • .. 461,

Bahia
Buenos Ayres ........ _
New York, 21 days' sight
Philadelphia ..........
PRIM OP BULLION, PER OX.
Foreign Gold is bars.. X 3 17 9
Now Dollars .... • • 0 4 9%
Portugal Gold Coin .. 0 0 0
Spanish Doubloons .. 0 0 0
Silver in bars ........ 0 4 11%

Barcelona • • • • • • • • • • • •

SavMe-- .... • . •• •• •

BANK OF ENGLAND.
(From this night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32, for
toe week ending on Saturday, the 27th day of May, 1848.
ISSUE DEPAILTILENT.
Notes issued— ...... 26,743,610

Government debt •• 11,015,100
Other securities • • • 2,984,900
Geld coin and bullion 11,338,612
Silver bullion .. •• •• 1,484,998

Z 26.743,610

26,743,G10
M. MMISHALL, Chief Cashier.

Dated the Ist day of June, 1848

0 EPAITNEN T.

Proprietors' capital.. 14,553,000

kesi . 3,391,979
Public deposits (in-
eluding Exchequer,
Commissioners of
National Debt, Sav-
ings-banks, and Di-
vidend accounts) • • 4,866.035
Other deposits • • • • • • 9,135,479
Seven day and other
.. • • .• .. • • 1,032,232

Government securi-
ties (including Dead
Weight Annuity) .. 11,751,215
Other securities •• .. 11,524,726
Notes • • • • • • . • 8,931,656
Gold and silver coin • • 771,129

£32,974,725

Z 32,978,725
Chief Cashier.

Dated Mg lgt day of June. liil4B.

EASTERN UNION RAILWAY.
(THIS DAY.)
The first general meeting of this Company since its
amalgamation with the Ipswich and Bury was held this
afternoon at Radley's Hotel, Blackfriars. J. C. Cob-
bold, Esq., M.P., in the chair.
The report stated that the Eastern Union Railway
Acts authorised the construction of a line from Colches-
ter to Norwich, with branches to Harwich, to Had-
leigh, and to Bury, making 98 miles of Railway.
The main line from Colchester to Haughley (31i miles),
and the branches to Bury (12 miles), and to Had-
leigh (7 miles), had been completed and opened. The
continuation of the main line from Haughley to Nor-
wich (33 miles, including the branch to the Yarmouth
line), was in course of construction : a portion of it to
Finningham on the road to Diss, 6 miles beyond Stow-
market, will be opened for traffic early in June. The
line to Long Stratton, ten miles from Norwich, might if
the funds were brought forward, be without difficulty
opened in the course of this year; and to Norwich by
Midsummer, 1849. The branch to Harwich (eleven
miles), had been contracted for, part of the materials
were already on the ground, and the line would imme-
diately be under construction. The cost of the whole of
those lines when completed, including plant and perma-
nent stations, and all the extra expense entailed by severe
Parliamentary contests, would not exceed 22,0001. per
mile. The traffic upon that portion of the line which is
at work had been found to exceed considerably the esti-
mated amount; and justified the conclusion that the line
when opened to Norwich would, with a greatly reduced
per tentage of working expenses, yield a satisfac-
tory return upon the capital expended on it. It
being most essential that the line to Norwich
should be opened with the least possible delay, and
that the capital of the company already expended should
thereby be rendered at an early period productive and
remunerative, the directors recommended the share-
holders to raise amnng themselves, on bonds for three
years, under the company's borrowing powers, the sum
required for the immediate and vigorous prosecution of
the works to Norwich. With the same view, the di-
rectors submitted to the consideration of the shareholders
the expediency either of postponing :the payment of the
interest authorised by the company's Act to be made up
oat of capital for the year 1848, until after the
opening of the line to Norwich, taking credit
for the same, and for interest thereon in the
meantime in the company's books ; or, at their
option, of having it placed to the credit of the payment
of calls; thereby avoiding the necessity of raising during
the current year the large sum of 40,000/. for the pay-
ment of interest, and leaving the whole of the
resources of the company,
e applicable
.to the discharge
of its obligations, to
tcompletton of the line,
placing i the
at
and to the the earliest possible
period in a position to make out
a legitimate return upon the of its earnings
capital embarked.
The intention in the first instance, m
toilaopen a single
line from Diss to Norwich, and from is
3n
tngtree to
Harwich, and hereafter to add as the resourcesn
company shall be realised, a second set of rails one the iin
the
to Norwich (earthworks and bridges having in the firste
instance been constructed for a double line),and to extend
the station accommodation as the traffic becomes developed.
In addition to the lines and branches constituting the
Eastern Union Railway, the directors entered last year
into a provisional agreement with the Stour Valley
Company for a lease of their line at a guaran-
teed interest of 5 per cent. and
that di
of
profits beyond that amount ; and that agreement
was confirmed by general meetings of the Eastern
Union and Ipswich and Bury Companies. The
Stour Valley Railway from Marks Tey to Sudbury
and Halstead (twenty miles), is under construction; and
that company have obtained Parliamentary powers for
the extension of their line to Clare and to Bury St. Ed-
mund's, being twenty-two and a half miles, but no ca-
pital has been raised or expenditure incurred as to these
extensions. The capital agreed to be guaranteed for the line
ander construction is 300,000/.; and it is believed that the
earnings of the line will fully cover the amount guaranteed.
It was considered by the directors of the Eastern Union
Railway an important protection to the interests of their
company to obtain the control of the Stour Valley line;
and with this view they determined to take a share of
the Stour Valley line to the extent of 20,0001., on behalf
of the Eastern Union Railway; and with the same view
subsequently entered, conjointly with the Ipswich and
Bury Company, into the agreement for the lease of the
Stour Valley Railway.
The engineer's report gave a satisfactory account of
the progress of the works.
The statement of the accounts showed that the re-
ceipts of the company, up to the 31st December, 1847,
amounted to 1,262,121/. Os. I Id. and the expenditure to
1,244,4861. 10s. 6d., leaving a balance of 17,634/. 10s. sd.
The Citsinstasf said he was prepared to admit that
the report was not so satisfactory as he could wish; but
looking at the circumstances of the times, which had
in an extraordinary degree affected all railway
undertakings, even those more firmly established than
this, he thought there was some excuse for the affairs of
the company not being in so favourable a state as might
have been anticipated. The unexampled e
pecuniaryt
difficulties that had prevailed had prevented the directors
realising the
The
which they had held out to the
s
proprietors. The line to Norwich had not been com-
pleted,
as they expected it would have been by this
time, in consequence of their being obliged to
i„ziJAptetpone the payment of calls. With respect to the
'-'_question of the payment of interest, he said un-
der the Amalgamation Act the directors were
empowered to pay interest out of the capital of the com-
piny, and the railway Committees had fixed the time
for doing se at a period when the line to Norwich might
have been reasonably completed. But not being able to
press the payment of calls, the works had been greatly
retarded, and they now recommend the meeting to allow
the payment of interest to be postponed until the line to