The Sun.
London, England, 1846-10-29 00:00:00

RAILWAY INTELLIGENCE.
YORK AND NORTH MIDLAND.
Y_RK, TUESDAY.—_ A special general meeting *as
held yesterday, at the De Grey Rooms. The meeting
was very numerously attended, there being net less than
500 shareholders present.
Mr. litansoar, M.P., presided, and said The object of
the first resolution was this : we issued a certein quantity
of shires in contemplation of obtaining an Act, but in
applying for that Act, instead of depositing the money
we did so on a declaration, and therefore by adopting
this resolution you will only be confirming % hat you
have already done. The second resolution, I think.
explains itself ; the object of it is to provide for a mil-
lion of money, which we shall have to pay for the Hull
and Selby line in 1850. By that means we shall take
certain shares at such prices as the directors shall think
proper out of the market, and thereby prevent the ne- -
cessity of calling upon you to pay a million of money in
one day. The remaining part of the resolution, or
rather series of resolutions, provides for the debt of the
company, 500,0001. or 600,0001., by making it capital in.
Northit n
eo er re ea
eb3,
Midland
de
dtehlaaepniddt
crl sa;cptitt•
ar
will
-vhceeonn thi
en ueed
dtehde
1850, when the position of the company will be such as
teolivthideeYndoroknanatnl
guarantee not less than 6
per cent. ; if we are enabled to pay more you are en-
titled to it, but we shall not give less. Of course there
would be a natural anxiety among the shareholders to
know, after this increase of capital, what will be the
total amount of the capital ,of the company. I have
stated at different times the total length of miles possessed
by this company, but I Will restate that, as it may
not be in the recollection of every shareholder whom I
have the honour of addressing. I will shortly state our
position, and then you will be able to judge of our
future prospects. Including that capital, which the
directors anticipate will be authorised to-day, the total
amount of capital will be 4,721,2501, and the total
length of railway under your management will be 306,
the average cost per mile being 15,400/. The length of
railway at present in working operation is 165 mile&
which includes thirty miles of the Hull and Burlington
line, and also the six miles of the Filey branch. Still
I should mention, that although these two branches
have been opened, they have not been as yet used for
merchandise traffic, to any great extent so far, and
therefore we may consider them not completely opened.
On the Ist of July in the next year the amount of the
number of miles will be incrsased by nearly 100; that
is, we shall have 97f miles to open on or before that
period, which will materially add to our revenue, and
most materially extend the company's powers and our
means of paying you your dividends. The directors
think that in all probability the Leeds and Selby shares
will be called up in the course of that time, viz., before
July next, together with 51, upon the extension shares,
and a certain sum on the East and West Ridings.
We propose that the whole of the stock, after
the Ist of July, whatever may be the sum oiled
up, shall receive dividend alike. We hope that
that dividend will be ten per cent.—(Applause.) I don't
feel any doubt myself—l would tell you if I did—
that it will be in' the power of the company, when all the
money is capitalised and called up in 1850, to pay the
dividend which you now receive upon the York and
North Midland shares. I have no doubt whatever that
on the money called up before the Ist of July next you
will receive in the following half-year ten per cent.
dividend. ' I feel no difficulty or hesitation in telling
you that the York and North Midland proprietors are
richly entitled to receive that dividend. We made rail-
ways when no one else would embark in them. We em-
barked our money in the Scarborough line, when almost
every person thought it would be an unprofitable under-
takinse—an undertaking which has been described by
one who claims some eminence in railway matters, as a
line totally destitute of traffic, merely running to a small
fishing village in Yorkshire, and constructed by the sur-
plus capital of the company. I need not say to you that
the Scarborough is one of the best paying lines in the
kingdom.—(Applause.) But then you made it at a time
when no person was making railways, when all hands
were tied up, and when the country at large seemed
totally disinclined to embark its capital in these under-
takings. The consequence was, you made that line when
labour was cheap, and you bought your iron at some-
thing like five guineas per ton ; nevertheless, it ought
not to be thought unfair that you should reap the reward
of the enterprise and courage with which you undertook
that work at that time. I state these facts, because I
think they cannot be • too often put in print, or placed
before the pUblie.—((lear, hear.) There was a
time when these undertakings were great specu-
lations, and if, by your enterprise, and by the confi-
dence which you have reposed in the board over which
I have the honour to preside, you have been induced to
embark your capital, I think no person ought to find
fault with your receiving from the capital the reward
which I have always thought was the great principle of
commercial enterprise.—(Applause.) But whilst you
have received an adequate remuneration for your ca-
.ft-il'aimeurm"-ilot::•Efier things we have given
ca-
pital, we have given iner.....d ..• •
t(:•uarints;afibiu(,,t ibne3erovenrdyvywhatty;
:.xsirsitgedarledSstthyeeamr
to the public, at all the principal stations, an opportunity
of taking day tickets, which of course has affected
our reventae to a certain extent, yet the public have de-
rived great advantages, and Ido not think it improbable
that along with the 10 per cent, which you receive, the
public will ere long receive a further considerable re-
duction of fares on the York and North Midl end line. I
4M sanguine enough to believe that the traffic will so in-
crease by the opening out of a large extent of country,
that whilst we shall be enabled to pay you 10 par cent.
upon the capital which has been employed in the con-
struction of the branch lines, the public will receive that
which we are pledged, but not bound by law, to give
them. As an old company we are not bound by law; I
say that we are pledged, and it is my anxious desire, as
it ever has been, that while you as shareholders receive
that dividend, which the Legislature and any reasonable
man does not think an unreasonable dividend upon
a speculation of this kind, the public should
also be benefited. I may mention that it is
the intention of the board at the next half-
yearly meeting to propose to consolidate the stock
of the company, so that any one may buy stock instead
of shares. The adoption of that plan by the Midland
Company has been found to be productive of great faci-
lity, and I think it would be to the interest of this corn•
pany to do the same. Our applications to Parliament in
the next session will be very limited. There will be one
to improve our terminus at Harrowgate, and arrange-
ments have already been made of a satisfactory nature,
which will enable us to have an excellent terminus op-
posite the Brunswick Hotel, which, as any ons acquainted
with the place will know, is one of the best localities in
Harrowgate. We shall also have to apply for a Bill to
enable us to erect a new station at Hull, an eligible site
for which, and one which has been approved of by the
whole town, has been selected. Every one in the habit
of visiting that town will be aware of the inconvenient
and bad arrangement of the present building ; besides,
we want the present building, and more if we could have
it, for our goods traffic, which has so increased, and will
still further increase, that if we could obtain additional
room, it would be advisable for us to do so.—(Great
applause.) There will be one other Bill. You will re-
member we subscribed a certain sum to the Ax-
holme line, from Gainsborough to Goole, and we in-
tend to apply for that Bill again.
the West
of W
obtainedl
theseit
dl aastlti sessionnaellsevents which
but :for the defective
which the levels had been taken. II must state, however,
esho
mannerul should have
av
ie
e
that no fault in this respect attaches to the engineering
staff of the York and North Midland Company, because
that line was brought out by sta independent company,
with whom we thought it better to unite, as we con-
templated constructing a line in that direction ourselves.
We shall, therefore, again apply for that Bill, as the
York and North Midland Company have a larger
amount of stock in the.undertaking than we had before,
on account of the retirement of some of the shareholders.
There are, however, some of the local proprietors who
still hold their interest in the line, and they are to re-
ceive 4i per cent., with half the profits. With these'
exceptions lam happy to say we shall not have any ap-
plications to Parliament during the next session. Gentle-
men, the resolutions which I have read are those which
I shall have the honour. o submit to you, and if I have
not ex p la i ne d themeae sufficiently—ifeelonly
eay
that
ity will
i afford-shfor tmu re h
thee r
information,
utmost pleasure and satisfaction.
Mr.
hopeef Si. to
will
iehne nextmadJer
ife
L o vz
Riding then
sharesasked
wouldreletting
after
hweh a t
made.
The
immediatelyhe thirty
calls
miles upon
lh
ciecih a
ve wets 10 per cent. The calldi-
rectors CHAIRMAN—We
a
rsatisfiedcalledupwill,July,
following,that they can do this
without a doubt. I would not have told you if we
had not been without doubt or hesitation on the sub-
ject.—(Applause.)
Mr. LOVE—WiII the old Selby shares be called up
before the Ist of July next year?
The CHantatize—Certainly; but it may be in Ja-
nuary, as we want to get the stock consolidated. As
long as we could borrow money at 3i per cent., it was
advisable to do so; but when we come to be asked 4 per
cent., or a little more, then it ceases to be advantageous
to us to have that borrowed money, and hence the ne-
cessity for a call upon the shareholders. These shares,
I think, ought to stand as well, if not better, in the mar-
ket, than the old York and North Midland, and probably
it has been an injury to them that the money has not
been called up. The holder of these shares you see
gets 6 per cent. upon
that which he has never paid up.
and this is one of the things which it is thought by.. par.
Raiment is not placed on proper footing, and
perhaps it
may be so.
c
Mr. MOOR, of Hull—Have the Manchester
and Leeds
Company decided whether they will participate in the
purchase of the Hull and Selby line, and doer; the new
contemplate the provision stock now spoken of . of the
whole or only half of
the capital required for that pur-
chase?

_ .
The CHAIRMAN—One-half at present, and if more
should be found necessary we must have another meet-
ing. The Manchester and Leeds directors have had a
meeting, and I think arrangements will be made very
satisfactory to both companies. It gives me great plea-
sure to say so. There was not a dissentient voice, all
were agreed, and I hope that the result will be the means
of immediately uniting two powerful companies together.
I am, and always have been, anxious to cultivate the

YORK AND NEWCASTLE.
A special meeting of the proprietors of this company
was held shortly after.
Mr. HUDSON again presided, and there was a very full
attendance of shareholders.
The CHAIRMAN then said—With reference to the first
resolution, it is similar to the York case. The authority
to create the capital to which it has reference was ap-
plied for in the House of Commons under a declaration ;
by this meats we saved the necessity of making a
deposit ; and this resolution is merely to confirm what
you have already done. The second resolution, and the
succeeding ones, provide for the purchase of the Great
North of England Railway and its works, by the creation
of 159,000 shares of 251. each, on the terms therein con-
tained, that purchase having to be completed by the year
1850. Gentlemen, the last time I had the pleasure of
meeting you, I had the satisfaction of informing you that
the Great North of England Railway was no longer a
losing concern to us, but that it was paying itself and
something more • and I have no doubt that when the
Newcastle and Berwick Railway is opened it will add
materially to its receipts on the York and Newcastle
line ; and in 1850 I hopej.o be able to pay you the same
dividend on the entire capital as you are receiving at
present. When all our works are completed and
opened to the public, we shall have 225 miles of railway
at a cost per mile 0f.29,466L Therefore this reduces
the large price which we have to pay for the Great
North of England f and; taking the whole together,
it does not make what we, in railway language, con-
sider a very heavy average. The Midlands cost a much
larger sum, and the Manchester and Leeds averaged
about 60,000/. a mile. We shall have 225 miles of rail-
way at an average of less than 30,0001. a mile. By
spreading over a large extent of railway the average cost
thisit principle,ha b en constructed.
have
su suggested
sNteodw, overin
per mile is thereby reduced, and we all well know that
the great security to railway property consists in the
shouldsal
united weed nal prc
overouct
n.
then
application
nwt tt
again,iict oh which
etbiweatdhacb.
raireflection,o
dni. ahteehsneredwoafni ecweakiceistcrdeysioenitt
to include in the average, and an arrangement
wk;o1, the Newcastle and Berwick
liament for an extension and - I think prat, aian
_fiftytpiles of branch rail ways,
tageous to the Newcastle and Berwick Übmpaiii.---
(Applame.) If this is accomplished, and the two com-
panies become united, we should have 370 miles of rail-
way. I have made an estimate, along with Mr. H.
Wood, who has a local knowledge of the county,
that these fifty miles of, branch railway can be
constructed for 10,0001. a mile, being through
mishoesipliani
oaasgnnul
is
yrorlne.af ilihwfw,laavwaviryieee-1
a cheap, easy, and economical' country. The
capital of the York and Newcastle Company, including
the purchase of the Great North of England Rail-
way, will amount to 6,625,0001. If you amalgamate the
two concerns—which I hope you will do—you will have
a capital of 8,825,000/., and a length of 375 miles of
railways, at an average cost of 23,8001. per mile. This
reduces the average very materially, and you will have
375 miles of the best lines in England.—(Applause.)
Although this is not a Newcastle and Berwick meeting,
still I think it may be interesting for you to know the
probable position of that company. Last week I had
the satisfaction of riding on the whole length of the
Newcastle and Berwick Railway, when I examined
every contract, and saw the position of the whole works,
and I will pledge you this—that no bridge built on the
line will give way. whatever may be the floods: which
they may encounter.—(Applause.) I never saw more
substantial works in my life, and no person who takes an
interest in works of this character can fail to be ex-
tremely gratified, at the substantial and handsome man-
ner in which they have been executed. Gentlemen, I
have no doubt that the Newcastle and Berwick Railway
will be opened by the month of February next. You
are also aware that the contractors are proceeding very
rapidly with the high level bridge at Newcastle. Nearly
the whole of the property required for the approaches
has been purchased, and a large quantity of it paid for.
The houses are being pulled down, the arches are being
built on the land side, and the works are proceeding
most rapidly on the river. We have got Nasmyth's
steam pile driver, which drives piles with the most won-
derful facility. No doubt the bridge will be completed in
less time than was originally anticipated, and you may
rely upon it that everything which exertion can do to
push on the works will be carried out with the utmost
vigour possible.—(Loud applause.) I know that some
parties have an objection to. the two companies being
amalgamated; but I think it would be a great improve-
ment if all the lines were amalgamated to Edinburgh.—
(Renewed applause.) You see what has been done by
the amalgamation of the Newcastle and Darlington, and
the Great North of England Railways. lam sure that
my sanguine friend (Mr. Oxley) never anticipated that
before the opening of the Newcastle and Berwick Rail-
way we should; be able to pay them 10 per cent. divi-
dend, without loss to ourselves. When a series of lines
are in the hands of one company it is extraordinary what
an increase of traffic takes place, and great facilities are
thereby derived for the transit of both passengers and
merchandise. I have no doubt that the receipts of the
Newcastle and Darlington line, by having possession
of the Great North of England Railway, have been in-
creased in a large measure, and if we could arrange by any
means to bring the whole of the lines under one en-
tire management and control, I believe it would be a
vast advantage to the public on this side the island.—
(Cheers.) If any persons had any doubt as to the pro-
priety of an amalgamation between the York and New-
castle and the Newcastle and Berwick, I think they can
have no doubt now, after the bonus which the York and
Newcastle shareholders have received in the increase of
their capital. I think it is only fair to state, that if they
are united, the capital for the entire construction of the
main line, and branches of the Newcastle and Berwick
Railway should be raised by the shareholders of that
company.--(Hear, hear.) I consider that they will be
entitled to the issue of the requisite additional stock
themselves; it is their right and proper property, and
therefore, if the amalgamation should take place, it will
do so under the reservation that the Newcastle and Ber-
wick shall complete their line and branches, and shall
be entitled to such new shares as will be requisite for
the completion of the works.(Applause.) I have not
the least doubt—l firmly believe that the Berwick line
will be as productive as any part of our line. I have
seen the country, and I never felt more sanguine as to
the traffic to be derived. I have no doubt that, among
other things, we shall supply the whole district in with
coke; we shall do an immense trade in coal and coke.
In that opinion I am corroborated by my friend Mr.
Wood.
Mr. NICHOLAS WOOD, of Newcastle—l am quite sure
of it. I Weight of Tube.

The CHAIRMAN—Then on the Newcastle and Berwick

line there is the best engine coal in the world, and the
whole district abounds in minerals. The district is one
also rich in agricultural produce, as the stock-yards abun-
dantly testify : it is perfectly delightful to behold them.
The great weight of this produce is taken to Newcasle,
principally in carts. By this description of conveyance
large quantities of produce are taken from as far as
Alnwick to Newcastle, a distance of 35 milcs. This
produce will come as a matter of course on to the Ber•
wick Railway. There are ten or twelve coaches run-
ning between Newcastle and Berwick, and they are full
of passengers every day. When at Alnwick I was in-
formed by a gentleman that a friend of his sat up one
night for three coaches, but every one of them was full,
and that has constantly been the case.—(Applause.)
Then, looking to the cost of this line, the main line will
cost something like 17,0001. per mile ; but, including the
proposed branches, the cost will be under 15,600/. per
mile. To my mind there never was a clearer case made
out wherein an arrangement such as I have suggested,

lb. oz.
47 10
45 15
59 0
64 4

43 141
63 8
82 0
91 1

YORK, TUESDAY, OCT. 27.—Yesterday afternoon a
numerous and influential meeting of shareholders in the
North British Railway took place at the White Horse
Hotel, in this city, to take into consideration the best
clurse to be pursued at the general meeting, which is to
be held at Edinburgh on the3oth inst. •
Mr. Thomas Price was called upon to preside.
Mr. H. WATSON, of York, said that the simple point
at issue that day was as to how the shareholders would
vote at the approaching meeting -at Edinburgh. He
thought it desirable that a committee should be formed,
and that such committee should form a deputation to
wait upon Mr. Hudson, the chairman of the York and
Newcastle Company, to ascertain from that gentleman
whether he was willing to take the North British line
under his management and control, and whether an
amalgamation with the Edinburgh and Perth project
would forward the interests of the shareholders of this
company.

Mr. gurr read letters from Mr. John Learmonth and
two others from Edinburgh, to the effect that it would
be desirable to amalgamate the North British Railway
with the Edinburgh and Perth.
A conversation of a desultory nature ensued, and it
was ultimately resolved that a deputation should wait
upon Mr. Iludson, to ascertain if he was willing to take
the management of the North British line, upon fair
and equitable terms. The committee having been
named, they immediately left the room, and waited on
Mr. Hudson, who received them in the most courteous
manner, and expressed his willingness to meet the views
of the North British Company, and to accept the ma-
nagement of the line upon fair and equitable terms. This
announcement was received with an expression of gene-
ral approbation.
On the suggestion of the CHAIRMAN, a memorial was
then drawn up, requesting the directors to adjourn the
meeting of the 30th instant for a fortnight, so that steps
might be taken to obtain the signatures of shareholders
resident in other towns.

THE GREAT WESTERN.—The directors have deter-
mined strictly to enforce their by-laws, particularly with
respect to smoking at the stations and in the carriages,
a clause therein imposing a penaltyof 403. upon offenders.
THE MENAI TUBULAR BRIDGE.—STRENGTH OF
TUBES.—Mr. W. Fairbairn and Mr. E. Hodgkinson
have both been engaged in extensive and independent
sets of experiments, to ascertain the best form to give to
the beams to be employed in the construction of the tu-
bular bridge by which the Chester and Holyhead Rail-
way is to be carried over the Menai Straits. Mr.
Fairbairn's experiments may be said to have only esta-
blished this general fact—that hollow beams of wrought
iron are about three times stronger than solid beams of
the same form. Mr. Hodgkinson's experiments had for
their special object to ascertain what sort of hollow beam
is the best—oblong, or square, or cylindrical. From
the results which are shown in the following table, it
will be seen that the cylindrical are (as might have
been, and was, in fact, anticipated by Mr. Hodg-
kinson) the strongest of all, and the square next in
degree.

CYLINDRICAL TUBE.
External Weight of
Diameter of Greatest
Tube. Resistance.
inches. lb.
2.34 31,828
2.99 37,356
4.05 47,212
4.06 49,900
RECTANGULAR TUBE.
4. 1+4.1
8 15+4.1
8. 1+4.1
8. o+B.o

19,649
23,289
43,673
27,545

The rectangular tubes were till of plates one sixteenth
of an inch thick, and all simple rectangles, except the
last but one, which had a partition in it, making it into
two divisions. On the 14th inst., the railway company
contracted for the construction of the first portion of this
bridge, which is to be called the Britannia. It is 450 ft.
span. The greatest span of any rigid bridge hitherto
executed is 240 feet.—Mechanics Magazine.
MAMMOTH TRAlN.—Yesterday morning one of the
longest and roost heavily laden goods trains, propelled by