The Sun.
London, England, 1846-02-20 00:00:00

Sub-Committee Rio. 6.

There not being a quorum of this Committee at the time
appointed for its sitting, it stood adjourned until twelve
o'clock to-morrow (Friday).

MADRAS RAILWAY.

The general meeting of this Company was held yesterday,
at twelve o'clock, at the offices, No. 2, Winchester-buildings,
Old Broad-street; Mr. J. Arbuthnot in the chair.
After the advertisement calling the meeting had been re-
cited, a report was read, of which the following is an ab-
stract :
The Court of Directors of the East India Company recog-
nise, in the fullest reanner,the importance of the introduction
into India of railway communication, but state that the
construction and management of railways in India should be
entrusted to private enterprise and capital ; and they direct
the Supreme Government of India to report to them the re-
sults of the investigation of the committee of engineers, ac-
companied by the opinions of the Supreme Government upon
the subject. As soon as this was ascertained several gentle-
men ,who were acquainted with the 4Teat progress which the
very complete and accurate information which had been ob-
tained by Capt. Worster's survey of the line from Madras, to
Wallajahnuggur, took steps for the construction of the line
from Madras to Wallajahnuggur and Arcot, with ultimate
extension to all parts of the Madras territories, that might
be warranted by the success of the first line. It was re-
solved to limit the capital to be raised, at first, to the esti-
mated amount required for this object alone, which was
.500,000/., divided into 25,000 shares of 20/. each ; on which
the deposit, as fixed by the Jointisteck Act, was 2s. each.
The number of shares reserved for Madras was 5,000.
The number which each member of the provisional
committee was limited to was one hundred. The
number of shares applied for by the public was
70,000 ; and the number actually allotted to the applicants
in this country was 19,635. Of these the deposits have
been paid upon 16,885, and iaf the 2,750 shares which
have lapsed from non-payment, 1,050 have been re-
allotted to fresh applicants. There remain at pre-
sent 2,065 shares at the disposal of the Com-
pany, exclusive of the number reserved for Madras.
The line runs nearly due west from Madras to Arcot, a dis-
tance of sixty-five miles. The average rise is lin 645, and
the steepest gradient, 1 in 180; no cuttings of any con-
sequence, and no tunnelling whatever. The soil is most
favourable, and in no part subject to inundation of any con-
sequence. In 1837 the annual traffic of goods between the
termini was estimated at 30,000 tons ; but the present amount
of imports alone into Madras by land is estimated at 300 tons
a-day, or more than three times the amount of imports
and exports, nine years ago. The number of passengers be-
tween the termini has recently been estimated at 150,000
annually. With rails of 701bs. to the yard, a roadway
capable of receiving a double line of rails, but to have only
one at first, with sidings at intervals, the cost of a
railway between Madras and Arcot would certainly be under
°ftrer
thea mile, and it is fully expected, that within a year
line is opened there will be a profitable return.
The Directorso now only await the decision of the Court of
f
Directors the East India Company, to commence their
operations. The amount paid as deposits on shares, to this
time, amounts to 1,688/ 10s Of this 1,500/. has been ex-
pended or is due for
preliminary operations, including the law
expenses, the deed
of
settlement and complete registration. A provisional committee
has been formed at Madras, con-
sisting of thirteeenfgmenettaltreisa of the highest rank in the com-
pany's service;
ness at Madras; and of the (1)f the
principal houses of busi-
profession. A deputation
from the committee had waiteedgtoa,niethe Marquis of Tweeddale,
Governor Of Madras, with
support of the local Go„rnu ravlei.lew of obtaining the
the objects of the company, t in carrying out
a most encouraging reception.
icildiretchteorGs
to their
have
ovhearn_
aThe had met with
also addressed the Supreme Government
meat of Madras, but have not yet
replies
communications, but hope to do so attar early period, and
the
eq(lieainted
will lose no time in making the sharehelaade
rs
with the result of these applications, as well
of the Court of Directors, when it shall have been obtained,
In moving the adoption of the report, the Ali
stated that, according to the regulations of the East India
Company, it was necessary for the Company's official engi-
' seers to survey the line, but as that would be both a dila-
tory and expensive operation, the directors had been making
interest to obtain the adoption of the surveys of the engineer
of the Madras Railway by the Committee of E ngmeers in
Bengal, and the directors were daily waiting for the result of
their application.
Mr. CHRISTIAN said that before the report was adopted, he
wished to know what course the directors intended to pursue
with respect to the shares which had been allotted, but not
paid up on. He had himself purchased 75 shares at 255. pre-
mium, but the party of whom he had bought them refused
to sign any deed or paper which would make the purchaser
entitled to the certificates, without a bonus of Si. This he
(Mr. Christian) refused to give, believing the claim to be
nothing more or less than a dishonest extortion. He now
wished to know whether the directors would take the
bankers' receipts in exchange for certificates, from those par-
ties who were not original shareholders.
After some conversation, the CHAIRMAN replied that every
facility would be given by the directors for the certificate of
the property of the Company to those who were entitled to
it, and the matter dropped with that assurance.
On the proposition of the CHAIRMAN J. A. Arbuthnot, Esq.,
Lieutenant-Colonel Abdy, N. B. Ackw' orth Esq., and W. S.
Binney, Esq., who should retire in rotation,
were re-elected
as directors.

Some objection was offered by Mr. LINDIELL to the re-
election of these gentlemen, on the ground that they were
not
.practically acquainted with the working of railway com-•
panics, and had been parties to an unnecessary expense in
the complete registration of the Company, which was not re-
quired for the transfer of the scrip.