The Sun.
London, England, 1846-05-18 00:00:00

BOSTON, STAMFOD, AND BIR-
MIN GiIAM (STAMFORD TO WISBECH) RAIL-
WAY. _ .

The advantages thus developed the directors believed to
be as many and great as can be derived through the medium
of life assurance, and the accumulative plan may be consi-
dered as supplying all that was eficient in the ordinary sys-
tem. It exactly provides for the wants of those who desire
that pecuniary provision in the event of death should ad-
vance with the increasing necessity for it; while to those
who at any time wish to terminate their arrangements of
this kind, it suggests a mode by which their object may be
attained with the least possible loss or expense. As a pro-
vision for the young it must be considered invaluable, as at
once guarding the parent from loss, while offering to the
child an example of prudence and a stimulus to exertion.
The directors of the City of London Lite Assurance Com-
pany, in concluding this short explanation of the accumu-
lative principle as applied to increase the usefulness of life
assurance, venture to express their full confidence in the po-
pularity which it will acquire. They have resolved to carry
it out in the way which will most conduce to its success,
with caution and economy; and in endeavouring to secure
the best scientific advice and assistance to golds them in the
outset of their plan, they desire to give the strongest possible
pledge that their subsequent course will be marked by a
rigid regard to the security of the interests entrusted to their
management. _ .

As the system of Accumulative Assurance is peculiar to
the City of London Life Assurance Society, the directors,
in introducing it to the public, would only further state that
the calculations respecting it have been made expressly for
them by sir. J. M. Rainbow, their consulting actuary, whose
talents and experience will be a sufficient guarantee for ac-
curacy and security.
Extract from the Accumulative Assurance Table, adopted
by the City of London Life Assurance Society, showing
the amount assured at the respective ages mentioned for
each 1001. deposited.
Amount 0 I Amount Age' 0 Amount
Age. I
Assured, Ag— I Assured. I Assured.

20
25
r 5

1 X s. d.
7 270 0 0
8 271 4 9
9 270 12 5
10 269 16 7
15 255 6 0

X s. d.
240 7 8
225 6 4
210 5 11
195 10 8
181 2 5

1 X s. d,
45 167 2 11
50 154 4 7
55 142 14 6
60 132 11 0

WARWICKSHIRE AND LONDON

RAILWAY.
A special general meeting of the scripholders in the
Warwickshire and London Railway Company was held on Sa-
turday, in pursuance of Sir R. Peel's sessional orders, at the
Euston-square Station of the London and Birmingham Rail-
way, for the purpose of approving or otherwise of the fol-
lowing Bills
A Bill for making a Railway from or near the city of
Worcester to the London and Birmingham Railway, in the,
parish of Weedon, with a branch to Alcester.
A Bill for making a Railway from the London and Bir-
mingham Railway, is the parish of Hampton -in-Arden, in the
county of Warwick, to the Birmingham and Gloucester
Railway, in the parish of Ashchurch, in the county of
Gloucester.
A B,i l for making a Railway from the London and Bir-
mingham Railway, in the parish of Hampton-in -Arden, in
the county of -Warwick, to the town of Ba.tbury, in the
county of 'Oxford.
Mr. G. CARR GLYNN was voted to the chair, and in open-
ing the bu-iness of the meeting, he said he held in his hand
a note from Lord Warwick, who was the provisional chair-
man of the Company, in which the Noble Lord expre,sed his
regret at being unable to attend, in consequence of a pressing
engagement. He need not go into the merits of the Bill,
because they had already been fully detailed some four or
five times. They had all passed through standing orders,
and now stood for committal in the week commencing the
Bth of June, when the tug of war would be again' re-
resumed.—(Cheers. )
The Bills were then formally approved of, and the meet-
ing, which did not last more than five minutes, terminated.

LONDON AND WINDSOR RAIL-
WAY. SPECIAL MEETING.
A. special meeting of the proprietors, shareholders, and
Bcripholders of this Company, took place on Saturday, in the
Crown and Anchor Tavern, in complianco with the sessional
Orders of both Houses of Parliament.
The SECREZARY read the advertisement convening the
Meeting, and the chair was taken at one o'clock by Major
Boileau.
The CHAIRMAN, having briefly announced to the meeting
that it was in compliance with toe sessional orders that they
had been convened together, in order to decide whether
they would proceed with their Bill in Parliament, adverted
to the satisfactory prospects of the Company.
Resolutions were then proposed in favour of proceeding
With the line, which were carried unanimously.

A special general meeting of the shareholders of this
company was held on Saturday afternoon, at two o'clock,
at their offices, 18, Abingdon-street,
estminster, in
pursuance of the resolutions of the House of Common;
to ascertain the decision of the scripholders as to whether
they assented or dissented to proceeding with the Bill.
The meeting, a numerous and respectable one, in the
absence of the Chairman, R. Snootier, Esq., M.P.. was
presided over by Thomas Macauley, Esq., the Vice-
Chairman.
The CHAIRMAN rose and said, the duty of presiding
over the meeting devolved on bim, on account of the una-
voidable absence of the Chairman, Mr. Spooner, arising
from engagements of a Parliamentary nature. They were
aware, that they had been called together in pursuance
orthe resolutions of the House of Commons, proposed
by Sir Robert Peel, to ascertain their assent to, or dis.
sent from, proceeding with their present Bill ; and the
first business necessary to be done was, the reading of
the notice calling the meeting, so as to be satisfied that
it was duly and legally constituted.
The Secretary then read the advertisement convening
the meeting, which he said had been inserted in the
Gazette, and the principal London and provincial news-
paper.
The CHAIRMAN, in opening the business of the meet-
ing, said his first duty on behalf of his co-directors and
himself was, to - return their cordial thanks for the per-
fect confidence the shareholders had hitherto shown and
reposed in them, and which, he trusted, would bo still
continued. He could assure them, when he became a
director of the prAent company—and he believed he
could say the same of his brother directors—his only
object was to do everything in his power to advance the
general benefit of the concern.—(Hear, bear.) As many
of those who were now scripholders in the company
were not original subscribers to the undertaking, they
would not, he was persuaded, object to his occupying
their attention for a short time, while he gave an outline
of the scheme from the period of its announcement to
the present time. It was right he should do so, that
they might understand the present position and pros-
p cts of the company, and in order to ac-
count for the change which ha,l been made
in the scheme, as compared with its original
intention aid extent. It would be remembered that the
present company was originally formed a little more
than a twelvemonth ago, the object of it being to con-
struct an independent line of railway from Boston and
Lynn, by way of Stamford, to unite with the Leicester
and Birmingham Railway. This arrangement had it
view the formation of a direct line of communication
between the west of England, the great manufacturing
and iron districts, and the eastern counties. It was pro-
posed that the line shopld start from the Leicester and
Birmingham Railway, at a point between Leicester and
Rugby, and proceed alon:!, the valley of the Welland,
through Stamford, to the port of Wisbech, there form-
ing a connexion with the Lynn and Ely Railway ; thus
constituting a oirect communication between the east and
west of England. He need not dilate on the great ex-
citement that then prevailed in the public mind—he need
not dwell on the strong public opinion that prevailed in
favour of direct lines from one side of England to an
other. These were matters with which they were all
familiar. It was in agreement-with this feeling, and
to open up in the best manner en important district of
country, that the present scheme had been brought out.
The original numbelr of shares was 50,000 at 20/. each,
or a capital of one million. But though 50,000 was the
number of shares announced, it was deemed prudent not
to issue more than 30,000, representing a capital of
600,0004 Ste mentioned this as it required explanation.
The intentions of the directors towards the shareholders
were bona fide. The 30,000 shares were issued, con-
ceiving that 600,000/. of a capital would be sufficient,
and deeming that it would be well to keep 'beck the
20,000 shares to satisfy-landowners along the line, or in
case of amalgamation with some other company ; the
directors at the same time determinin, that whatever
shares remained over, or the whole, were they notrequired
for the objects stated, should be distribu-ed pro rata to
all those who had signed the Parliamentary deed.—
(Hear, hear.) Such was the resolution of the directors,
and he could inform the meeting that though the shares
rose to 21. premium, not (isle of these shares were issued
by the dii ecturs, or appropriated by them.—(Cheers.)
This brought him to explain the intentions of the
directors as to proceeding with the line now agreed
on. Shortly after they had made their surveys
for their original line, early last summer, they were
threatened with various competing schemes. To show
the advantage of the line, and that there was every rea-
son of its proving a successful concern, he need but state
there were no less than six other companies early last
summer, and at the very commencement of the railway
excitement, seeking to occupy the same ground.—(Hear,
hear.) The larger part of them] were exphemeral
schemes ; two of them, however, were of a different class,
being put forward by two of the most powerful compa-
nies in she empire—the Midland Counties and the Lan
don and Birmingham Railways. The one company
• proposing the South Midland from the Midland Counties
Railway, through Market Harborough to Huntingdon,
which ran for nine miles along the course of this com-
pany's line ; and the London and Birmingham proposing
a scheme from Rugby, by Market Harberough to Stam-
ford, taking up the larger portion of the central part of
this company's line—the junction from the Leicester and
Birmingham line to Stamford. The directors of this
company did all they could to effect an amalgamation on
sach terms as to admit the capital of 600,000/.
on equitable terms, but without success. They
had also lodged plans and sections for the
whole scheme; but being certain of the power-
ful opposition of the two great companies referred
to, the directors thought it best to contract the scheme,
andi to do what they could to secure an unopposed, cheap.
and profitable line.—(Hear, hear.)--They thought it
better to retire from a long and expensive contest with
companies, especially such as the London and Birming-
ham, whose powers had been so often successfully
proved, and against whom, if a victory were obtained, it
would be at a tearful sacrifice ; and to give up the por-
tion of country these companies sought to accommodate,
and to content themselves with that which remained—a
line cheap, unopposed, and likely to be most remunera-
tive to. the shareholders.—(Hear, hear.) The line as
now proposed was. twenty-two miles in length. It
started at Helpstone, near Stamford, from a point on the
Syston and Peterborough Railway, passing in a through-
out line thr ugh Market De-ping, Crowlanel, Thornee,
and Parson's • Drove, to Wisbech, where it fell into the sta-
tion of the Lynn and Ely line. Near Helpstone it crossed
the main line of the London and York, and near to
Pe akirk it also intersected what was called the loop
of the same line, the effect of which would be to con
nect Boston, Lynn, and Wisbech in the directest man-
mer with London and the North of England. With
this, and the junction that would take place with the
other lines to the east and west a complete and direct
system of railway communication would be formed with
sll the principal parts of England. —The result of this
alteration of plan was, that instead of the ex-
tended scheme formed, embracing a large capital,
they were placed within a small compass, and
had within their reach a line of easy construction
unopposed, competing -with no existing line, nor likely
to be so, and promising a eandsome per tentage on the
capital embarked. The directors estimated that the
construction of the whole of the line, with several small
extension branches contemplated, would be 300,000/.
They were fortunately unopposed by any land-
owners. He had received a letter from Mr
Tycho Wing, the agent of the Duke of Bedford,
giving the consent of his Grace to the passing of the
line, which went six miles through his property. They
had also the support of the Marquis of Exeter. The
expense of the stations would be very letle. They
would require no terminal stations, as the line started
from
_out for Helpstone station of the Lyston and
Peterborough Railway, and terminated in the Wisbech
station of the Lynn and Ely Railway. There would
only be required a few road stations, at a trifling cost.
It would also be important to remember that they would
be at no loss for plant, as it would, in a short line like
theirs, be better and cheaper to hire engine power from
one of the two companies with which they would be in con-
nection. . lie had not at present considered which com-
pany should be applied to, but he had no doubt that the
present line would fall into the hands of a more power-
ful company; and if that were the case, of which he had
no doubt, and an amalgamation was found to be
desirable, he should take care and see
that it went into the hands of such a
company at a remunerating rate to the present share-
holders.—(Cheers.) To this point the increasing
energies of the directors would be directed. In regard
to the amount of expense already incurred, he did not
consider it would be prudent then to go into details, as it
might be used in a prejudicial manner by their enemies.
They must recollect that the past year had been a very
expensive one in getting forward railway surveys, in
comparison with former pe ntghienyeemrsusthaexdpreec;•
yelled in champagne and turtle,
riod.
bentsE
the expenses to have been considerable.—(A laugh.)
sStill he must say, compared with many other companies,
their expenses had been moderation itself. Further than
this it would not be well at present to say. They had still
a large sum of money in hand, and if the meeting gave
their consent to proceeding, there would be no necessity
for any further call till the Bill was passed into a law,
as they would be enabled to meet the 10
per cent. without calling on the scripholders. Supposing
the scheme went on, and no extensions were made. then
the sharAelders need not expect the present capital to
be called up,
as no more than one-half of the 600,000/.
would be required. On this account he- congratulated
them on the keeping back of the 20,000 shares, and not
having been led, away with the favourable state of
things, when the shares were issued, to throw them into
the market. He had now endeavoured to go through
the history of the scheme to the present time, a duty
wbeiethn
shown their prbeesfee
which he was aware he had but inadequately performed;and he would now address himself briefly to proceeding
present scheme stchbe Selectemebef CommitteeoreParlia of Parliament
the
li
I t hale:,
of Commons, that the returns would yield ten per cent.
on the capital of the
company ; and that the line could
be easily made for te
ilnari)iniej,e., stated. In proof of that,
the Midland Company
per mile. He had been over
ofthiecil7:leaelxinteen'tat
wheibetrtabeeteprr.esTenbtliinneepda
countrylo,ooO/.
did nut
and it was of a most
not interfere with a
th r o u g
favourableh
single one of the drains, and it had received the support
hear. That
the Marquis of Exeter,
most tavo Redfo) rd and
'oirtehres.—Dul eearfl
aosfsetdhet,Dwritahinatghee Csuopnii3oarri;
flow
wraeble circum-
onclude, by
wereHe
wouldf
circum-
stances in their favour.
intimating that the number of shares assenting to
proceed with the Bill that had been placed in his hands
by the secretary, and supplied to him by the share-
holders, was, 11.215; dissents 10.
The SECRETARY intimated that there were, perhaps,
more dissents in the room; the assents only 'had been
received by him.
A SIIAIMIOPPASI thought there must be some mis-

take, as be had placed some shares in the secretary's
hands, though not with the intention of assenting.
The CHAIRMAN said the meeting had not yet voted,
and he had merely stated the number of shares
se-
cretary had
assentingbeen
place sihgandwiteohf
ththee
as proceeding theroceedin
The number up to the opening of the proceedings
was, as he had stated, 11;215/. If any mistake
had been made by any scripholder present
in placing their votes in the hands of the secretary, it
would be rectified. Whether they proceeded or not did
not affect the directors more than as being shareholders
to a considerable extent they had an interest in the
success of the company. The directors considered the
scheme a feasible and good one, and that they ought to
go on with it, as it was sure to bring back their money
with a good profit. The Bill had passed through the
Select Committee of the House of Commons, and was
now waiting the decision of this meeting before the third
reading.
A SHAREHOLDER called the attention of the Chairman
to a return moved for by Mr. Labouchere, and printed by
order of the House of Commons, setting forth the shares
taken up by the provisional directors of railway com-
panies. From this it appeared that Mr. Spooner had
not taken up any shares, and there were two other direc-
ens that had only taken up two shares each.
The CHAIRMAN said that, with regard to Mr. Spooner,
he had taken but little interest in their proceedings from
the beginning, and his name had been put on the list at
the time the line was brought forward, so as to give con-
fidence to the public in this undertaking.
A SHAREHOLDER called the attention of the Chair-
man to a member of the Managing Committee, who was
represented in the returns to hold only five shares.
The DIRECTOR to whom allusion was made explained,
that at the time this railway was projected there was
another brought forward in connexion with it, which
promised to be of c insiderable advantage. As it was
considered advisable that the directors of the present
company should hold a number of shares in the other
company, it did so happen that he took a considerable
number of that company's shares, and did not take up,
at toe same time, those allotted him in the present com-
pany. He found out his mistake when too late, and
since then he had bought a sufficient number of shares.
He thought, therefore, he had acted, as far as he could,
in the manner a director was bound to do. The shares
he bad purchased he now possessed.
Mr. LECHMERE did not think there was any ground
of complaint against the directors. With regard to the
scheme, he was satisfied that it was a good and honest
one, and would prove remunerative to the shareholders.
Referring to the Bill, he fouud the amount of capital
stated at 252,0001, and the shares at 12,600, of 201. each.
Now, if the capital stated was too low, and 300,0001 was
fixed to be the amount, it would be a desirable arrange-
ment, as then that would make the 30,000 shares issued
to be to/. each. If the Bill could be so altered as to
make the capital 300,000/, to be raised in,30,000 shares
of 101., it would harmonise well with their past proceed-
ings. He. would also suggest that there should be fur-
ther tinse,given in the Bill for the execution of the line,
and the raising of the capital. It would be a satis-
factory arrangement, if the period for finishing
the . line were . extended, and a clause in-
serted that no call should be made 'till a year
after the passsing of the Act. Many other com-
panies had done this. He had no doubt the line would
be a good paying concern. It was a line, also, which he
believed had received the unanimous support of the
Select Committee that had sat on it. He hoped all in
the room, like. himself, would decide to go on with the
undertaking. The proceedings of the directors, he was
satisfied, had not been like that of many (Ali r companies.
He woes told, last week, of one that had only passed
through tiie standing orders, yet had spent 36,0001. out
of 46,000/. of deposits.—(Hear, hear.) He could not too
highly commend the proceedings of the directors in
regard to the 20,003 unissued shares, when they had
every, inducement to issue them, and put_ the profit in
their own pockets.—(Hear, hear.) So satisfied was he
with theieconduct, that i,e would have great pleasure in
proposing a rote of thanks to them at the end of the
meeting.
A SHAREHOLDER again recurred to the return of the
House of Commons in respect to the shares taken up by
several directors.
The CHAIRMAN said the returns were, in several in-
stances, very inaccurate. With respect to the member
of the Managing Committee that had been referred to,
those who knew him could not for a moment believe he
could do anything but what was strictly fair and re-
putable.
Mr. PRITCHARD said his was a case in point, re
had signed the deed for a considerable number more
shares than appeared in the document.
Mr. FRANKLIN thought the shareholders ought to be
satisfied with the explanation. No one had been more
strongly opposed to proceeding with the railway than
himself, and he had acted with others who thought the
scheme should be broken opt But, before that was
done, they thought some investigation should take place.
The result of that investigation had changed his
opinions, and, instead of opposing the line, he would
now support its—(Hear, hear.) He bad now good
reason for thinking that the through traffic would yield
10 per cent., leaving out of calculation the local traffic.
He also thought it would be impossible to go on without
effecting an amalgamation, in which he had no doubt
they would obtain satisfactory terms. With respect to
the reduction of the amount of the shares, it was a
incter. .of little moment. He was satisfied that not
more than 5L or 61. per share of the present 30,000
shares would be required for the line, as the rest could
be raised on loan. Supposing they got 150,0001. from
the shareholders, there would be no difficulty in raising
100,000/. by loan. Whether the shares were called 101
or 20/. wa3 of little consequence, as the real question
with them was, how much would they be required to
pay up? If the gentlemen who referred to the pro-
ceedings of the directors, and complained of one or two
of them not taking up shares, had investigated their
proceedings as he had done, he was - sure all opposition
on their part would be withdrawn.
The CHAIRMAN said, witla regard to altering the shares,
there would be great Parliamentary difficulty, as they
would, in that event, have to recommit the Bill, and go
through various expensive forms. Practically, the alte-
ration would be of no importance to the shareholders.
In respect to a clause not to make any calls for a twelve-
aanth, to do so might operate injuriously to the pro-
gress of the Bill, and might favour the supposition that
they were not in earnest in pushing the scheme forward.
He did not think, however, that any call would have to
be made till two-thirds of the year was gone. The great
point with them was, to get the line carried out as soon
as possible, in order to make satisfactory terms with
other companies.
A SHAREHOLDER wished to know if all the 30,000 had
been paid on.
Mr. BAXTER replied that 1/. 2s. per share had been
paid on the whole, making 33,0001.
At the suggestion of several shareholders, the heads
of the Bill before Parliament, as amended by the Com-
mittee, was read.
After a few observations relating to the interest agreed
to be paid on the deposits, but which was of no materia
conseq ience,

mr: C. lievcocx, mayor of Stamford, said he held
511 shares in the present company. A few- weeks ago
he was opposed to proceeding, but he,had since changed
his mind. He now thought it would be cne of the best
little lines in the kingdom. It would be of great advan-
tage for carrying corn from Boston to Norfolk, ins..ead
of, as at present, by water. He had looked at the rate
4 tolls, and while the time would be so much reduced,
the price of conveyance would be but one half
it was as compared with the water. Owing
to the uncertainty of the water conveyance, he had
himself lost from 2001. to 3001., because he could not
get the grain brought by water delivered in time. He
believed the transit Of vegetables along the line would
also be enormous ; for while potatoes in the neighbour-
hood of Lynn and Boston were selling at 2s. 2d. per
cwt., they were ss. Bd. in Birmingham, and they could
be taken to Birmingham and Derby for 7s. 6d. a ton.
There would likewise be a large traffic in stone and
lime, and live and dead beasts. He could bear witness
that the feeling in Stamford was all but universal in
favour of the line.
Mr. GALE inquired how the 12,600 shares of the Bill
were to be allotted among the holders of the 30,000
shares Z.
Mr. BAXTER—Upon a rateable arrangement, accord-
ing to their present stock.
In answer to another Shareholder,
Mr. BAXTER said the line crossed the river above
Wisbech, and that the crossing had the sanction of the
Bedford Level Commissioners.
The CHAIRMAN, after a few preliminary observations,
then moved the following resolution :
" That this meeting of holders of scrip and bankers'
receipts representing scrip in the proposed Boston,
Stamford, and Birmingham Railway Company, con-
vened and constituted conformably to the sessional or-
ders of the Houses of Lords and Commons, having had
msubmitted
nt ocotrhpeomr
aat
icnogp yt
hoef
sthe BC Billmnpoawn
y, before
do
alp'
pa
rove
1 i a-
thereof, and do authorise the directors to prosecute the
same in the present session of Parliament."—Carried
unanimously.
Mr. ARMS, of Lynn, seconded the motion, and re-
marked on the advantages the eastern district would en-
joy by such a through communication to Birmingham.
The residents at Lynn at present received their hard-
ware goods from Birmingham in a most circuitous
manner. They had to travel by railway from Birming-
ham to Hull, 150 miles, and then to be brought by sea
to Lynn. Now, if this line were formed, they would
come
28s.doui rw6e h also a
aa distance
ton—very
ofmiles,atacorsats.
He h
hlonly
underl
portion the
present rates.
of the Birming-
ham export trade to the continent would be done through
the port of Lynn. So strong was the feeling of the in-
but
tyeryo fm
considerableuoen 30
in-
habitants of Lynn in favour of this line that, though
many rival schemes had been proposed, and though one
Of them had called a public meeting of the inhabitants,
and employed barristers and other agents from London
twilling, for a resolution in favour of the present line was
o advocate their cause, still their eloquence was una-
"carried unanimously by. the meeting in question:
nimously agreed to.
- -
• The resolution was then put from the elixir,
and una-

The CHAIRMAN then proceeded to cast up the votes.
The assents up till then were 11,215, being more than
sufficient for compliance with the resolutions of the

House of Commonl Still, in order that as many votes
as possible might be recorded, the secretary would con-
tinue to take them till the close of the meeting.
Mr. llArcocK then moved—

" That the Chairman of this meeting, and the solicitor
of the Company, be authorized and requested to affix
their respective signatures to the said Bill, and to any
certifie%t&of the holding of this meeting which the forms
of Parliament may require."
Mr. PRITCHARD seconded the resolution, which was
also agreed to.
Mr. LECHMEHE moved a vote of thanks to the Chair-
man and directors for their zeal, ability, honesty, lute-
,