The Sun.
London, England, 1846-07-29 00:00:00

Irtirb MWtion

ROYAL BANK OF AUSTRALIA.

(THIS DAY.)
Pa general meeting of the proprietors was held to• day in
Vie board-room of the Company's premises, No. 2, Moorgate-
Istreet, at twelve o'clock.
John W. SUTHERLAND, Esq., having taken the chair,
'called on the secretary to read the advertisement and notice
convening the meeting.
The CHAIRMAN then said, it was matter of great gratifica-
;ion to him and the directors to have such a statement of the
Company's affairs as that for the past year to lay before
the proprietors, as he wag sure it would give them satis-
faction. He felt it would be unnecessary for him to go
through the details, as' hey would be fully. read to them by the
Secretary. He reseft a most able and satisfactory letter from
Mr. Benjamin Boyd, late Member of the Legislative Council
of New South Wales, and Chairman of the Pastoral
Association, upon the general affairs and prospects
of the tolony, addressed to J. W. Sutherland, Esq.
It stated that stock was steadily advancing in price; sheep
with stations in Port Phillip had changed hands at 16s.
immediately after shearing, with the expectation that they
would reach 20s. A large military and naval expedition to
New Zealand had created a demand for slaughtered meat and
live stock; cattle sold at from 121. to 151. sterling, and sheep
at 20s. to 255. each ; besides which cattle were daily driven
to South Australia for the use of the mines; and as it ap-
pee.red that the mineral resources of that colony were inex-
haustible, it was impossible to say to what extent the de-
mand might grow for draught and fat cattle. The colony
had received nearly 40,0001. last year from India for horses.
Foreign whalers and other shipping were rapidly increasing
in the ports for the purpose of refurnishing. Such, the Chair-
man said, was a view of the state and prospects of the colony
with which the interests of the Company were identified, and
st • must be satisfactory to the proprietors. They
were aware, he had no doubt, that steam naviga-
tion had been extended to India, and the Company
were in hope that it would soon reach beyond Sin-
gapore to Australia, and give to the trade of this colony a
new impetus. The Company would make every effort to
induce the Government to this. A report on the subject
was. drawn up, and would be laid before a public meeting
previous to its being submitted to the Government. From
the recent changes in the Colonial-office, they had good reason
to hope that this desideratum would be attained. The recent
appointment also „s•.kf,a new governor, whose conduct had
given great satisfaaion in the West Indies, was also a source
of expectation to the committee, who had waited on the
governor prior to his going out, and found him every way
inclined to make himself acquainted with, and to promote the
commercial interests of, the colony. He concluded by calling on
The SECRETARY, who read the report. It stated that there
was a gross profit on the operations of the year of 36,6701.
133. 9d.; that the dividends, interest, and charges, for the
corresponding period, amounted to 19,594/. Os. 7d., leaving
17,076/. 4s. 2d. to be added to the balance of profit in profit
and lose account of last year, viz., 26,8731. 9s. Bd., thus in-
creasing it to the sum of 43,9491. 13s. 10d. From this, how-
ever, was to be deducted 1,0001., proposed to be now
written off against preliminary expenses, and 24,100/.
deposit notes already paid. That the forthcoming dividend
would further reduce the amount by about 7,000/.
That the affairs of the establishment, consequent upon the
greatly improved position of the colony, coupled with the
judicious and able superintendence of Messrs. B. Boyd and J.
P. Robinson, fully justified an increase in the Company's
dividend; and in anticipation of continued prosperity, the di-
rectors recommended the adoption of this measure to the share-
holders. That meanwhile, they considered it would be more
satisfactory to form a reserve fund, than to add at this time more
than one per cent. to the dividend hitherto paid. They there-
fore proposed that the half-yearly payment for the current
year should be at the rate of six per cent per annum, free of
income-tax.

The CHAIRMAN, in answer to a questfon from a proprietor,
stated that the accounts were made up is the colony to
the 31st of January, and at home to the 30th of June.
Mr. BRUCE moved that the report read be received,
adopted, printed, and circulated among the proprietors.
Mr. Raw seconded the motion, which was carried una-
nimously.

Mr. S. PLINN moved that the following gentlemen, retiring
from the board by rotation, should be re-elected directors for
the ensuing year, viz., John W. Sutherland, Esq., Mark
Boyd, Esq., and Joseph Phelps Robinson, Esq.
Mr. TEESDALE seconded the motion, which was carried
unanimously.
Mr. SUTHERLAND and Mr. BOYD being present, both ac-
knowledged the honour and the confidence which the proprie-
tors had been pleased anew to bestow on them, and assured
them of their strict attention to the interests and the affairs
of the Company.
Mr. REID moved that the thanks of the proprietors should
be given to the manager, J. H. Rae, Esq.
Mr. PLINN seconded the motion, which was carried unani-
mously by the meeting, and acknowledged by Mr. RAE.
Mr. REID moved that a letter should be sent, conveying
the thanks of the proprietors to Benjamin Boyd, Esq., and
J. P. Robinson, Esq., in Australia, for their exertions in the
interests of the Company.
A PEOFRIETOR seconded the motion, and the meeting
passed it unanimously.
A vote of thanks to the Chairman having been passed, the
meeting was adjourned.

UNITED MEXICAN MINING AS-
SOCIATION.—(THIS DAY.)
A meeting of tbi, Association was held this day, at the
London Tavern, but reporters were refused admission.

DIRECT MANCHESTER AND LON-
DON RAILWAY COMPANY (RASTRICK'S
LINE). ( IS DAY.)
A. 'netting of the shareholders of this Company took place
thia day in the London Tavern, under the provisions of
an Act of Parliament entitled the Railways Dissolution Bill.
'Mr. J. Dillon took the chair.
The CHAIRMAN said that their efforts to obtain a Bill bad
failed, in consequence of the mere formal difficulties placed
in their way by the standing orders of the House of Com-
mons. It was said that an amalgamation existed between
them and the Remington line, but such was not the
case. They held 400,0001., and they were attempted to be
forced into an implied amalgamation with a company which
did not possess more than 7,000/. They had returned 34 10s.
a share, and they reserved a sum varying from
70,0001. to 80,0004 to preserve themselves against the risks to
which they were exposed by threats held out against them
of law proceedings—and they were now prepared to pay back
the remainder of the money as soon as they were relieved
from the danger of these proceedings. The Company was,
therefore, dissolved before the Act under which they met that
day came into operation and they accordingly were not af-
fected by it. He considered that the whole meeting was
illegal; they had not even sufficient to constitute it, as the
shareholders who had received the return on their shares
bird retired from the Company, and no longer possessed any
right to vote or be present at their meeting.
Mr. Pococx said that he repeatedly applied for informa-
tion whether an amalgamation existed or not with
Remington's line, but his applications, either by letter
or personally, were equally disregarded; he was refused all
information, and he considered that the conduct of the direc-
tors was most discreditable and disgraceful in withholding
that information, and he should move the appointment of
scrutineers.

Mr. RICHARDSON said that if the expenses amounted to
twenty-five shillings a share, after receiving 42000/. from
Remington's line, he did not believe that the directors had
acted as they ought to have done by the directors.
An amendment was then put that the question be not now
put, which was declared to be carried, and the original reso-
lution was then declared to have been lost.
The meeting was then adjourned.

RA ILWA Y COMMITTEES.

(THIS DAY.)

HOUSE OF LORDS.

Room C.

SENT ATMOSPHERIC.

-
'rho Committee re-assembled this morning, the Earl of Devon in
the choir, when

Mr. Clibitt was examined at very great length on the gradients,
and the several features of the peculiar line of the Atmospheric
Company. At present there were thirty-nine trains per day
ever the Croydon line. Considerable stress was laid upon the
fact of Mr. Cubitt having laid down a line from Croydon to Ashford,
the object being to shorten the distance between Tunbridge and
Ashford, by using a part of the Reigate line. There had been some
agreement with I the South-Eastern Company, which had
passed off, but the differences had lasted for some time,
and it was in consequence of those differences that
Mr. Cubitt was induced to leave the service of the
South-Eastern Company. An examination ensued on this point,
. .

and on the means of getting to Dover without going to Ashford!
After some farther details,

...„.
The Committee was then addressed at some length by Mr. Arms
in favour of the South. Eastern line, after which
The room was cleared. On the re-admission of parties,
The CHAIRMAN stated that the preamble of the South-Eastern line
had not been proved, anti the fill is, consequently, loot.

Room D.

GLASGOW, DUMFRIES, AND CARLISLE.

(Continued from our Afternoon Edition.)

After an interval, both parties submitted clauses, in order to
carry out the tatcntion of the Committee in the resolution they had
come to.

An argument took place on the clauses of the respective parties,
Mr. Sergeant WRANGRAM contending that his clauses were in full
accordance with the resolution of the Committee, while those sub-
mitted by the promoters of the Bill, if agreed to, would actually con-
travene its intention, which was to protect the through traffic of the
Caledonian and would introduce a great deal of legislation that was
foreign to the object sought to be accomplished.
Sir T. Puittars replied in support of the clauses the promoters of
the Bill had submitted. lie maintained that unless the provisions
of these clauses were admitted the Glasgow and Ayr Company would
be placed in an Injurious position, and would not be able to receive
proper indemnity tor the giving up to the Caledonian Company the
least expensive and most profitable portion of the line.
After some further discussion en the clauses, the parties were
ordered to withdraw.
On our re-admission,
- • • •

The CHAIRMAN intimated that the Committee were of opinion
that Mr. Sergeant Wrangliam's clauses did carry out the intention
of the resolution come to by the Committee.
The preamble of the Bill, as altered in agreement with the amend-
ments made by the Committee, and the new clauses admitted, was
then Passed, and the several clauses of the Bill gone through and
agreed to.-

The Bill with the amendment 3 was then ordered to be reported to
the 'louse.

The Committee then seperated, having terminated their labours.

Room H.

THE EDINBURGH AND GLASGOW AND
SCOTTISH CENTRAL 317NCTION.

The Committee decided that the preamble of the 13111 had not been
proved.
The Committee then proceeded with the consideration of the
Edinburgh and Glasgow Union Canal and Railway Rill, and were
occupied hearing evidence in suppprt of it up to the hour of ad-
,our intent.