The Sun.
London, England, 1846-02-12 00:00:00

CHESTER AND HOLYHEAD
RAILWAY.
The half-yeatly meeting of the Chester and Holyhead
Railway Company, was held yesterday at the offices of the
Company, 61, Moorgate-street, W. Collett, Esq., M.P., in
the chair. The attendance of the shareholders was mune-
rows, and a long and interesting report was read to the meet-
ing, detailing the plan proposed by the Company's engineer
for making the communication across the Menai Straits.
lae proposed to effect by the means of a large iron tube,
equal In diameter to an ordinary tunnel, and sapported by
the means =of roads and chains, in the way of a sus-
pension bridge, but with this difference, that whilst
in the case of suspension bridges there are usually
only two supports, Mr. Stephenson here proposes to erect
four towers in the water, to which the chains
and roads are to be tied, so that the great vibratory effect of
the passage of heavy trains may be neutralised or rendered
as little injurious and -wearing as possible. The objection
offered to such a plan as this by the failure of the bridge at
Stockton, is obviated by the saving of that oscillation and
opposition of forces, to which that bridge was subjected in
consequence of the supports being continually affected by the
draught of the trains. The report was received with much
applause, and the plan was adopted. Through an omission
the accounts were not read to the meeting, but it was stated
that the printed reports would be distributed shortly after '
the meeting.
The CHAIRMAN then said that he was happy to congratu-
late the Company on the forward state of the works, and on
the probability of great future success. According to the
best calculation that could be made, he believed that the
works would be completed in the course of the summer of
1848, but whether the line would be opened in portions before
that time, or altogether, the directors had not yet decided.
Another source of congratulation was derived from the cir-
cumstance that the Company had been able to make a con-
nexion with the London and Birmingham and the Grand
Junction Railways, through which they were sure to obtain
a greater traffic than they had anticipated. As they were
not in a condition to raise capital from extraneous sources,
the directors had resolved upon making a call of 21.105. per
share in April next, and another of 51. per share in the course
of the following July.
In reply to an inquiry of Mr. Sergeant Stork, the CHAIR-
MAN said, that though he perfectly agreed in the opinion ex-
pressed by the Learned Proprietor, that the construction of
a harbour of refuge was a national object, and ought to be
paid for by the Government, yet as there was no compulsion
that could oblige them to enter upon such a work, and it
might, therefore, not be done for the next twenty years, he
thought it was only prudent, on the part of the Company, to
consider how far the formation of such a harbour would be
likely to promote their own interests. That it would do so
there could be no question, and the directors, therefore,
deemed it advisable to share the cost with the Government,
and they had accordingly devoted the sum of 200,000/. to
that object, payable in the course of three years.
The acceptance of the report was then put, and it was una-
nimously adopted.
The CHAIRMAN then announced that, according to the
rules of the Company, Mr. Prebble, the auditor, had retired,
but offered himself for re-election.
That gentleman's retention of office was unanimously con.
firmed, thanks were voted to the Chairman, and the meeting
was dissolved.

MANCHESTERandSOUTHAMPTON
RAILWAY.

A meeting of the delegates from the principal towns along
the line through which it is proposed that this railway should
pass, was held at the King's Arms Hotel, Palace-yard, at
twelve o'clock yesterday, to take into consideration the pro-
priety of waiting on Lord Dalhousie, the President of the
Board of Trade, to represent to his Lordship the value of the
proposed railway, not only to the several localities repre-
sented, but to the nation generally—forming, as it would, if
carried out, a direct communication between the northern
and southern coasts of the kingdom; and also to urge upon
the several Members of Parliament connected with the towns
on the line the importance of taking active steps to ensure
the success of the project in question.
Amongst the gentlemen present were—Joseph Lobb, Esq.,
mayor of Southampton ; Captain Griffiths, late mavor of
ditto ; Moses Pipper, Esq., mayor of Romsey ; Frederick
Taylor, Esq., late mayor ; Whether, Esq., bailiff of Stock-
bridge; Powell, Esq., steward of the lord of the manor;
Thomas Wanhill, Esq., mayor of Poole; Captain Parrett, of
Poole ; William Brownjohn, mayor of Salisbury; Joseph
Cobb, Esq., town-councillor of Salisbury; J. L. Alford, Esq.,
ditto; Thomas E. Mortimer, Esq., alderman ofAndover ; John
Poore, Esq., ditto; John Taylor, Esq., high-bailiff of Crick-
jade ; Thomas Strong, Esq., of ditto ; Thomas Byrch, Esq.,
high-bailiff of Cirencester; William Miller, Esq. of ditto; T.
strong, Esq., of ditto; George Rowe, Esq., high-bailiff of
Cheltenham ; Captain Lloyd, of ditto. We could not catch
the names of the deputation for Marlborough.
The meeting seemed to be a spontaneous act on the part of
the inhabitants of the towns on the line, to insure, as far as
in them lay, the success of a measure which they deemed of
such importance to the districts with which they are con-
nected.
Joseph Lobb, Esq , the Mayor of Southampton, was called
to the chair.
Captain Parratt was requested to act as secretary.
The CHAIRMAN briefly stated the object for which the
gentlemen present had assembled, and suggested that a de-
putation should be at once appointed to wait on Mr. Hope,
the Secretary to the Board of Trade, to ascertain when it
would be convenient for the Noble President of that Board
to receive the deputation.
The suggestion of the Chairman was immediately acted on,
and a deputation proceeded to the Board of Trade, and re-
turned in about half an hour, when
The CHAIRMAN announced that the depuation had waited
on Mr. Cripps, the Member for Cirencester, in the House of
Commons, and he had very kindly joined them in their visit
to the Board of Trade ; where, upon communicating with
Lord Dalhousie's private secretary, they learned that, owing
to the appointment of the recent Select Committee on rail-
ways, the Board; of Trade had now no connexion with rail-
way projects; and such being the case, the Noble Pre-
sident of the Board of Trade had come to a determination
not to receive any deputation, however constituted,
in reference to railways. The deputation having ascertained
this fact, retired. It was now for the gentlemen present to
take such steps as might seem to them proper to forward
the project now under consideration. Representing as they
did so large a constituency, he was sure that their repre-
sentations would receive due weight in any quarter to which
they might be addressed. The Chairman then alluded to
the value of the proposed line, and showed that, in the event
of the Premier's plan respecting the alteration in the customs
and corn duties coming into operation, the utility and im-
portance of the Manchester and Southampton *Railway
would be beyond question.
Upon the motion of Mr. ALFORD, it was resolved that a
memorial, embodying the views of the deputation respecting
the value of the railway in question, should be transmitted
to the Board of Trade and to the several Members con-
nected with counties and towns through which the line
would pass.
Thanks were then given to, the Chairman, and the meeting
separated.
--elelswommom

EASTERN COUNTIES RAILWAY.
The usual half-yearly meeting of the proprietors of this
Company was held yesterday, at the London Tavern, George
Hudson, Esq., M.P., in the chair. The attendance was exceed-
ingly numerous, the large room of the tavern being crowded
with proprietors.
The usual formalities having been gone through,
Bfs. Rceenv, the secretary, read the report of the directors.
This Joeument set out with stating that a considerable in-
crease had taken place in the traffic for the past half-year,
arising principally from the opening of the line to Cambridge,
Ely, and Brandon, and that this increase, coupled with the
facts that the traffic was but partially developed, and that a
great increase might be expected when the several junction
lines were completed, gave promise of the fulfilment of the
hopes expressed as to the future prospects of the Com-
pany. The dividend proposed by the directors was 9s.
on each share of 14/. 16s. is the consolidated stock
of the Comcany. The next paragraph stated that,
" By the terms ,;f the resolutions creating the extension
stock, No. 1, the inierest on that stock is payable out of
capital until the entire of the lines to be constructed with
that stock shall have been finished. At present the line
between Ely and Peterborough is incomplete and probably
will not be ready to be opened before July next ; the di-
rectors, however, during the current half:year, intend to
charge the traffic with the interest on so much of that ex•
tension stock as has been applied to the construction of the
lines to Cambridge, Ely, and Brandon, because they
.will
be in receipt of a full half-year's traffic from those extensions,
in an improved and more productive state than hitherto.
None of the interest on extension stock, No. 1, has been
charged to traffic during the last half-year, as the above ex-
tensions were net opened until the month of August, and
because the Compeny, from a great deficiency of carrying
stock, and the incomplete state of the lines, and other causes,
have not been in a position to draw the income from them, es-
pecially in goods traffic, which they are capable of producing.'
It was stated that satisfactory arrangements had been made
with the Northern and Eastern Company, which arrange-
ments had been agreed to at a meeting of the proprietors,
and that similar resolutions would be submitted for the ap-
proval of the present meeting. Application had been made
to Parliament for Bills for their several extensions and
branches, in agreement with resolutions come to at former
meetings; and resolutions would be submitted sanctioning
the steps which the directors had taken in this respect. It
seas further stated that the directors had under consideration,
in the event of the Harwich Extension branch being sane-
lsv: Parliament this year, to establish a line of steam-
= between that port and :Northern and Central Europe,
as alleged would be a source of considerable re-
venue, the
neiicra „ls_team-boat Company to be orgrnised in con-
fa victer; the railway. In conclusion, it was stated that
CCounties and gamuts were being made with the Eastern
Woolwich Raawa ea Junction Company, the North and
Railway Company,
~Ct Many, and the North Gravesend
vantage of the East
the
tend greatly tothe ad-
era Company, and increase
the goods traffic on Cambridge and Colchester lines.
The statement of is appended to the report, showed
the receipts of the half-year
73,106aLusl5asn.dldin.t,ewreisiitetnh.
atter meeting all expense., interes
the Northern and Eastern Counties C°l
able sum for the dividend of 64,4670trart left an avail-
The then rose to move the adoption of the
The C
report, and in so doing said, that it would
him to enter somewhat into explanation, as necessary for
detail. It
report just read would have required to have been the
longer if embodying all that it was necessary to een much
was his desire fairly and honestly to give them a clear view
of the present position of the Company and its future n'- ro-
ts.—(Cheers.) In declaring a dividend of 9s. per share,
the directors felt they were not declaring one that was tone
considered by the shareholders as founded on the anticipa-
tions of what the future traffic might bring, but as actually
arising out of the past half-year; and in doing
would so, the
point to which the directors particularly call
their attention was the fair prospect before them
when the lives in connexion with theirs were completed and
open to the pu • blic There were two of these lines which he
was satisfied would be of great advantage to their interests.
Re referred to the lines proposed between p eterbo rogh and
Ely, sad between Ipswich and Colcheould ster, These, in
means addition
of
to the Eastern Union Company, wbe the
augmenting their traffic in A very c9nsidetroabtlhe
edm a t theegree.—
(Hear, hear.) The arrangement submitted
last meeting for an amalgamation with the Northern and
Eastern had, with some very little alterations, been agreed. to
by the shareholders of that Company. The only alteration
made was, that parties not chosing to embark in the uner-
taking should have the liberty of selecting 6 per centd . in
Perpetuity on their shares, but should receive no allotment of
new shares, or be allowed to participate in the extensions of
the
Company. Of the proprietors of the Northern and East-
ern
InPanY, but one-fourth of the holders of original stock
bad selected 6 per, cent., fully three-fourths having
accepted the
ret,propositionsthe
of the Eastern Counties Company
Thzte;_,slnisTmetaptreoeftstef proferred guarantee.—(Hear, hear.)
undertakng.--(cheer confidence
In in the future pains of the
figures derived horn data supplied
of this he could give
country well, end these figure Pboreby those who knew the
s him
when all the exicuslott lines were opened, out In saying, that
Company would net be less than 100001.athwe receipts Of the
sent income was about 6,5000. week ; but he "wk. The pre.
ted when the traffic was fullydeveloped, it woNdity satis-
-10,000/. a week.. That evezipow they ,taut dune 5911yrt Umst

might have been expected, arose from their doh icy of
locomotive power, and the difficulty in meeting that defi-
ciency from the great demand for power of that kind, arising
from the opening of new lines. Though as yet they had not
obtained locomotive power to work the line with satisfaction
to themselves and to the public, still that was
a difficulty they were gradually overcoming ;and he
was not over sanguine in saying that, before their next
meeting, if their two extension lines were opened, they would
show a receipt of 10,0001. weekly, which, after making
payments of guaranteed interest, world show a reserved
annual sum for division and expenses of 450,000 E He was
satisfied he was giving a statement that would be borne out
by the results. It had been said that theirs was a bankrupt
concern, but to that he would answer, that he had given
facts and figures, which, as far as men of experience and
judgment were to be relied on, might be trusted, and they
showed a result of 7 per cent. on the consolidated stock, as
also on the stock of the Northern and Eastern Company. He
was satisfied that, ere long, with the extensions, the
undertaking would be second to none in the kingdom. A
company in such a position, and with such prospects, had no
right to be looked on otherwise than as a
solvent and legitimate undertaking.—(Hear.) lie could not
say what the Legislature would do relating to the London
and York line, though he had the strongest confidence in the
success of their own measure, if the Legislature was, as it pro-
posed to be, guile by the principle of supplying the greatest
extent of country at the least amount of expense.—(Hear,
hear.) That measure would be of great service to them, as
it would give them the chance of constructing another trunk
line to York, which he was persuaded could be constructed
at one-half less than the London and York scheme.—(Hear,
hear.) And if they were successful, they would have the satis-
faction of having held out the alive-branch of peace to the
London and York, which had been refused. The Hon. Gen-
tleman,
enm.t e
Harwichon
uNt t
eat
trhre
steehceeolgnurccteiioalenitnatt,iainodehnln,oatwntmight
ge s be
f
tleman, after referring further to this topic, and expressing a
o
hnea
ffeo
xlepi
ceni
toeentdhz
fwa that
taehecnvktetenht
soe
niinrfrotsmoPoha
e riue cc, ohe
said, would be submitted on the subject at the
present meeting, but the matter would be taken up by the
directors, and matured before being brought forward in that
shape. In conclusion, they hoped to make a considerable
reduction in the expenses of the Company, or at least with
the increase of traffic to take care that there should be no

increase of expenditure. The Hon. Gentleman, after refer-
ring to the services of the directors, especially those of Mr.
Waddington, in high terms, sat down amidst loud cheers by
moving the adoption of the report.
Ia answer to certain questions from Mr. WisnAw,
The CitAIRJIAN said that the directors might congratulate
themselves on the freedom from all accidents which had dis-
tinguished the Eastern Counties line. From the hour that
they had accepted office there had not been a single life lost.
With respect to the expenditure, he must confess that that
appeared to him extraordinarily large, but they were doing
their best to reduce it, and he would venture to promise that
with an increased traffic the expenses would not exceed, if
they equalled, the present amount.—(Hear, bear.) With
respect to the irregularity of trains on the line, he had since
he had been elected a director taken means to ascertain the
exact time taken by each train, with the view of ascertaining
some better system than had before existed; but they had,
in consequence of defective locomotive power, to encounter
many difficulties. They, however, expected to be able in a
short time to bring about imprevements in this particular.
After some observations from Mr. SCOTT, recommendatory
of the efforts made by the directors,
Mr. LOVE said that he found no sum in the treasurer's
report placed to the account of depreciation. Ile wished to
know why this omission occurred in the statement ?
The CHAIRMAN said that he was no advocate for a depre-
ciation fund. If they wanted new engines, lie thought the
better way was to pay for them at once, and then place the
amount expended to the general fund.
The report was then carried unanimously, as were several
formal motions.
After thanks had been voted to the directors and ape
Chairman, the meeting broke up.