The Sun.
London, England, 1846-02-25 00:00:00

sidered the advantages very decidedly in favour of the
proposed deviation. The second was in the immediate
neighbourhood of Swansea, which would raise the levels
over the river at Swansea, for the benefit of the navigation.
The third was abuut thirteen miles in length. between Neath
and Cardiff; the distance would thus be shortened three
miles, and the: crossing of the shifting sands of Newton be
entirely avoided. It would connect a coal field, which is
about to be extensively worked. On the Newport and
Monmouth Branch a deviation is also proposed of no
great extent, for the improvement of the line near 1:1,k.
In coming before Parliament again for the eastern portion of
the line, which was dropped last year in the Committee of
the House of Commons, the subject of the crossing of the
Severn has been carefully re-considered. The importance of
this crossing near the point originally proposed, appeared to
the directoas and engineer undiminished ; and he had ac-
cordingly prepared Parliamentary plans of two modes by
which it may be accomplished—the one by a bridge of larger
dimensions than that proposed last year, and the other by a
tunnel, as suggested by Mr. Walker, the engineer, in his re-
port to the Admiralty. Several short branches were pro-
posed into the Forest of Dean. Upon those part of the line
rot immediately affected by the proposed alterations, all the
preliminary steps have been taken for staking out the line,
purchasing the prcperty, and commencing the works; be-
ginning as usual with those which will occupy the most time.
To the east and west of Swansea, and thence to Neat!), as
well as east and west of Newport, contracts have been adver-
tised for. The accounts made up to the end of the year
showed a balance of 75,590/. 3s. Id. in favour of the Company
The CIIASRMAN then proposed the adoption of the report,
which was seconded by Dr. BOWRING, M.P., and carried
unanimously.
In reply to several questions,
The CHAIRMAN stated, that if any circumstances should
come of which they were ignorant, with respect to the
crossing of the Severn, a special meeting of the
proprietors would (be called, in order to discuss
them. There must have been a special general meet-
ing of the Proprietors before the Bill went to the House of
Lords, at which the subject might be difcussed.
The following directors who retired by rotation were then
re-elected :—James Alston, Esq. ; Sir S. John Guest, Bart.,
M.P.; Stephen Lewis, Esq. ; Colonel:Ilugh Owen,
Abel Lewis Gower, Esq., who retired from the auditorship,
pursuant to Act of Parliament, was also re-elected.
A vote of thanks having been passed to the chairman and
directors, the meeting separated.

LONDONDERRY AND ENNIS-
KILLEN RAILWAY MEETING.—(THIS DAY.)
The half-yearly meeting of this Company was hald to-day
at their offices, No. 5, Church-passage, Guildhall, at one
o'clock, at which, in consequence of the resignation of Mr.
Ferrers, Mr. G. G. Filth Presided.
The seal having been affixed to the deed of settlement,
and the minutes of the previous meeting having been con-

firmed,
The Crrarnmax stated, previous to the reading of the
reading of the report, that he had great satisfiaction in as-
suring the meeting that the works were in a forward state, and
he believed he might say, before the:next half-yearly meeting,
the whole of the line would be an active operation. All the
sleepers, rails, and other necessaries, were already con-
tracted for, and a great portion of those required for the road,
yet unfinished, were already on the ground. The engines
were now in possession of the company.
The report having been read, the chairman said that before
moving, the adoption of the report he begged to inform the
meeting that the directors, feeling the claim of Sir John
M'Niell exhorbitant, they had: offered a certain sum, which
was rejected, they had then preposed to leave the matter to
arbisration. Neither of these propositions being intertained,
th • directors had no alternative than to defend the action
which Sir J. M'Niel had brought against them, and he had
great pleasure in stating that the verdict had
given a much less sum to that gentleman than the
company had at first offered to him. He (the Chairman)
had only to observe that on the trial which occurred a great
deal of personal feeling against Mr. Tyrrel, the solicitor to
the Company, who had always been a faithful and ju-
dicious ally.
The report was then moved and adopted, and the Chair-
man called on Mr. Leathern who was intrusted with the
progress of the work.
Mr. LEATHAM, after defending the conduct of Mr. Tyrrel,
stated that the whole of the course sf line was admirable and
likely to draw a great traffic from the intercourse with
Dublin. The proprietors in Ireland were perfectly satisfied
with the conduct of the direction in London and the Irish
proprietors were quite ready to follow the routine laid down
for their conduct. He was quite ready to answer any ques-
tions which might be put to him.—(Cheers.)
It was then carried that the common seal of the company
should be affixed to the register of the shareholders now
produced.
Mr. VARDIBUTT said that, as time was valuable, he should
make but few observations, and he was the more inclined
to do so in the present state of the money market ; but yet he
felt that no concern could go on profitably without any
efficient direction, and that no direction could be efficient
where the members were not to some extent remunerated
for their services. He therefore begged to move—
" That the sum of 800/. be voted for the use of the
directors for their past services, together with the thanks of
the proprietors for the care, attention, and energy observable
their proceedings, and particularly for their judicious
economy in the conduct of the business of the company, and
that a suns of 8001. be annually allowed for the use of the
directors until the works be finished."
Sir R. FnacinsoN, in seconding the resolution, regretted
the difference that had occurred between the engineer and
the Company. Had more time been given to Sir John
Macneill to survey the line he believed :hat many mistakes
would have been avoided, but yet, under the circumstances,
the best conclusion that could be come to bad been obtained.
The early period at which the line ksould be opened must be
very satisfactory, and the present depression of the shares
was but a temporary matter, and with this impression.
Before the resolution was put,
Mr. SNELL, jun., begged to inquire how many directors
there were?
The CHAIRMAN—There are ten which, makes 801. a-year
each.
Sir G. STEPHENSON, before moving the third resolution,
inquired whether there was any intention of applying to
Government for a grant of money.
The CHAIRMAN—At present there is not any such inten-
tion.
Sir G. STEPHENSON, believing that the motion was oily
reasonab:e, moved—
That an annual sum of 60/. be allowed for the auditors of
the Company."
Mr. WRIGHT seconded the resolution, which was carried
without dissent.
Mr. SNELL inquired what was the highest and what the
lowest amount of each call, and what were the intervals be-
tween the several calls ?
The SECRETARY—The highest amount of ends call was
5/. per share, and the intervals were three months each ac-
cording to the Act, but the reduction of that amount would
depend upon the discretion of the directors.
A SHAREHOLDER suggested that the directors should con-
sider the state of the money market in deciding upon the
amount of the last call.
The CHAIRMAN stated that the works were in progress, and
therefore it was desirable that the money should be got in as
speedily as possible, as the efficiency of the work was the
chief consideration.
Sir R. FERGUSON thought that a number of small calls
would be less injurious than one of weighty amount.
It was then decided that the calls should be as expressed
in the report.
Sir J. N. R. Campbell was then elected a director.
Sir J. N. R. CA3IPRELI, in returning thanks for his election
as a director, stated that he felt peculiar satisfaction in the
allusion to his connexion with the Oriental and Peninsular
Navigation Company. And in speaking of that connexion
lie felt bound to state a statistifical fact not generally known.
by. Englishmen, and that was, that three-fourths of the ca-
pital in that Company had been provided by Irishmen, and
that four-fifths of that required for their navigation generally
came from the same source. He felt happy in his connexion
with the present Company.
Sir John Campbell having been called to the dish., Si.
Robert Ferguson moved the thanks to the chairman, and
the meeting separated.

THE FUNDS.-(CLOSING PRICES.,
BRITISH FUNDS. ONE CLOSING
O'CLOCK.
Bank Stock .. . 208% 208%
Three per Cent. Reduced Annuities 96 y 9614
Three per Cent. Consols Annuities 95%8 3j 96 96
New 'Three-and-a-Quarter per Cent. Arms. 98% 97% 97%
Long Annuities, Expire Jan. .5, 1860 .. 10 11-16 9 -16 % 10%
India Bonds, 1,000/. .. .. • • • •
Ditto, under 1,000.1.
South Sea Stock .. .. • . • • • •
Ditto Old Annuities .. .. 95
Consols for Account •.. 96 95X
Exchequer Bills. I%cl. I%d.
1,0001. 38 36 -- pm.
5001... .... 36 pm.
Ditto, Small •
. 38 pm.
ONE
FOREIGN FUNDL O'CLOCK.
Brazilian Bonds, 5 per Cent .. 833(
Ditto, New Bonds, 1829 and 1839 ..
Ditto, Small .. • • • • • • • •
Mexican Bonds, 1837, 5 per Cent
Portuguese Four per Cants
Spanish Bonds, 5 per Cent e• Oa.
Dividends on the above payable in Loudon.
Dutch Two-and-a-Half per Cent .. 59%
Ditto. 4 per Cent. Certificates .. 951,4
BUSINESS CLOSING
PAID. DONE AT PRICES.
ONE O'CLOCK.
10

38 p

CLOSING
PRICES.
83%

.. -
.. .. MU

PRICES OF
RAILWAY SHARES.

Ablrdcen ..

Birmingham and Oxford Junction 2 .... 2►4 ..........
Caledonian .. 10.. .... 13%14 .. • • ....

Ditto, Half Shares .. .. • • 25y •• • • 3g g
Ditto, Extension .. 2a .... 214
Chester and Holyhead .. 20 .... 21a .....
Direct Manchester (Remington's) 2% .... 14.. • •
Direct Manchester (Rastrick's) 5% .... 3%
Direct Northern .. 214.... 2%a
Dublin and Galway 4 .... 3% ..

Eastern Counties .. 141. 16s. 2177.%.. ......

Ditto New ..

81. 16s.

.... 67p.

Do. Perpet., 5 per Cent. No. 1. 61 13s. 4d. •
Ditto, ditto, .. .. No. 2. 6/. 13s. 4d. % p ...... • •
Ditto, York Extonsion I 05.....
Eastern Union 25 .. • • • • • • • •

Do. Ipswich & Bury St.Edmunds 614 .. • • 7% ••••• • • • • •
East Lincolnshire .. 1 x .... 214 .... ••• • • •
Goole, Doneast., and Cheffield, &c. 425..... 1 p.
Great Eastern and Western .. •
Great Southern & West. (Ireland) 15 .... 21 .... ••• • . •
Great Western • • . • .. 85 .. —l5O 149
Ditto, Half Shares .. .. 50 .... 84 83 ..
Ditto, Quarter Shares .. 5 .... 17 ••••• • • • • .
Lancaster and Carlisle .. 35 .... 55
Ditto, New .. . • .. .. 5 •• • • 1014 •••• • • • •al •
.. 225..... t 4 dis

Leicester and Bedrord .
Liverp., Manch., & Noce. Junct. 2% .... •• • .
London an t Birmingham ... .100 .. . 222 224 222 . •
Ditto Thirds .. • • .. .. 16 .... 49% ..... •• •
Ditto Quarters .. . • .. .• 2 .... 274, 26%
Ditto Fifths .. • • .. .. 2 .... 24 25 •...
London and Blackw all .. 161. 13s. 4d. S .......
Ditto New .. 2%.... 410( . •
London mad Brighton .. 50 .... 64% 65!, 6434
London and Croydon .. 131. 15s. 9d. 21% 22
Ditto, Guarant. Five per Cent. 9 .... 10
London and South-Western.. 411. 6s. 10d. ••••• • • • • •
Ditto, New . • . •• .. 12% .... 2314
London and York .. . • .. . 2%.... 3 %

Manchester arid Leeds .. 82 .... .......
Ditto Extension 425..... 3)4 3 p......

Manchester and Birmingham .. 40 . .. •••. • • •
Ditto, Quarter Shares (A) 4 .. •• . •
Ditto, Quarter Shares (B) .. 2 ....
Manchester, Buxton, & Matlock 425. .. . • ••••• • • - • •
diDitto. New
'slanchester and Southampton .. 2 .... 2%..
Midland .. 10108 :13462%
Newcastle and Darlington Junet. 25 .... 43% .... ••• • • •
Ditto, New 1 .... ••••
Newcastle and Berwick .. .. 10 .... 2114 ....
Newry and Enniskillen .. . • 2% .... •
North British .• • . .. 20 .... 274
Ditto, Half Shama .• 6 .... 9% .
- Ditto, Dalkeith .. • • .. 25 .... 31%
North Devon
North Kent and. Direct Dover .. 23A
North Staffordshire .. • • •• 425..... 3%
Norwich and Brandon .. 18

DittP, New • • • • .. .. 5 51A
Perth and Inverness 2% .... 1% ......

Portsmouth Direct 34 _•••..........
Rugby and Huntingdon
Scottish Central .. .• . 716
Ditto New • • • • • • • •••• R • • • ......
Shrewobau and Birminecaft 3 ,