The Sun.
London, England, 1846-02-13 00:00:00

man then proceeded to animadvert on the observations which '
had been made by Mr. Russell, the Chairman of the Great
Western Railway Company, at a meeting of that body on
the previous day, with respect to Oxfordshire and Birming-
ham line; and in the course of his remarks stated that Mr.
Russell had said that it was not till the London and Bir-
mingham Railway Company had been connected with Mr.
Hudson in the purchase of the Bristol and Birmingham
Railway, that they (the Great Western) consented to have
anything to do with the Oxford and Birmingham line.
This was the first time he (Mr. Glvnn) was aware that the
Company was connected with Mr. 'Judson in purchasing the
Bristol end Birmingham Railway. He thought that Mr.
Russell might to have ascertained what the real facts of the
case were, before he ventured to connect the Midland with the
London and Birmingham in this transaction. But he would
now advert to what was really the pith of the whole matter.
He would for himself and his colleagues say, that they had
ever exhibited the most anxious desire to keep on terms of
amity with the Great Western Company. In fact, as :far as
they c.msistently could, they conceded for the sake of peace.
And now he would inform the meeting how the negotiations,
which had for some time been pending between the two Com-
panies, were somewhat abruptly brought to a close. Two
gentlemen, one high in the confidence of the Great Western,
and the other connected with the London and Birmingham,
conducted these negotiations. The gentleman who
represented the Great Western, referred from time
to time to his principles, and at last, after ten
days pawed in arranging difficulties, the negotiation
was apparently brought to a close. He (Mr. Glynn) held in
his hand a paper containing the terms of the arrangement.
Those terms, he repeated, were accepted by either negotiator,
and yet they found Mr. Russell stating that the terms which
were proposed by the London and Birmingham Company
were no less than that they (the Great We:tern) should sur-
render every advantage that they had obtained by the arduous
struggle of last year, and that tha only equivalent offered
was "peace, peace," which at least would be of as much be-
' nefit to the London and Birmingham Company as to them-
felyes. And this announcement seemed to be received with
loud cries of " hear." They would not wonder,
therefore, that these terms were declined, and that there was
no longer any negoitations between the Companies. This
was, indeed, very true, for on the night before last the nego-
tiations were broken up.. And what did this rupture
all turn upon? They wished to have the traffic
from Leamington to London.—(llear, hear.) Now let
the meeting examine the comparative merits of the lines cf
the two Companies. Even as the London and Birmingham
then stood, even now, by their circuitous' route by Coven-
try, they were three miles nearer than the Great Western
Company, and they gave to the town of Leamington the
advantage of a close station. The Great Western was longer,
and they did not approach the town at all. But how would
matters be improved, when their line through Bucking-
hamshire was comi leted? Then, instead of like the Great
Western having a line of one hundred and six miles in
length, they would have a line of only eighty-nine miles long.
He must do the gentleman who represented the Great
Western the honour to say, that he at once abandoned the
point that the traffic of Leamington belonged to the Great
Western. But the Great Western asked that the town of
Dudley should be given up to them.—(Cries of "Oh, ob.")
That proposition not being conceded, the Great Western
would not attempt to enter upon any other arrangements.
He thought that Mr. Russell should have inquired
calmly into the facto, especially as he must be
well aware that they would be explained at
that meeting, instead of making statements other than those
that were justified by the real circumstances of the case. He
waa sorry that he had been obliged to occupy their time so
long, but he felt that it was only due to himself, to his cal-
leagues, and to the shareholders themselves, that the London
and Birmingham Company should be put right before the
world. He had not had an opportunity of going through
the whole of Mr. Russell's speech, as the newspaper
which contained it had only been put into his hands
just before the business of the meeting had commenced, but
he had referred to these points in order to- satisfy the minds
of the gentlemen present that no efforts had been left untried
by them to bring those negotiations to a peaceful termination.
He should now propose that the report be read by the
secretary.
Mr. CRET:D, the Secretary, then read the following re-
port :

'• The directors, in conformity with the resolutions of special
general meetings of the proprietors of the London and Birmingham
awl Grand Junction Companies, held on the 7th of November last, by
which the Agreement of Amalgamation, concluded by the respective
Boards, was approved and confirmed, have laid before the present
meeting a statement of the Accounts of this Company for the half-
year ending on the 31st of December last, with the Amalgamated
Account of both Companies appended to It.
On this first occasion of meeting the proprietors in their altered
position, the directors are gratified in being able to exhibit accounts
which afford such satisfactory evidence of continued prosperity; for
although, in consequence of greatly reduced rates and fares, there has
born a large accession of traffic at low prices, with an addition of
charge proportioned to the increase of business; the net receipts con-
siderably exceed those for the half-year ending on the 31st of Decem-
ber, 18.14, amounting, for the London and Birmingham line, to
83,8191. With their limited experience, however, the directors are
not yet able to give a decided opinion as to the result of the recent
reductions in the working expenses of the railway, and they would,
therefore, still wish to regard them, in some measure, as an experi-
ment, which they hope may, in benefiting the public, work out fa-
vourably far time proprietors.
"The directors recommend that from the common fund of the
Amalgamated Company, a dividend be declared to the proprietors of
this Company at the rate of 101. per cent per annum, clear of pro-
perty-tax, being the same rate of dividend that the directors of the
Grand Junction Company will recommend to their proprietors.
" The payment of this dividend will leave a large surplus of profit
to the creditor the current half-year, but not more than the directors
of the amalgamated Company consider requisite to maintain the
same rate, under the circumstance of an unequal receipt in the half-
years ending in July and December, and with the possible contin-
gency of a check in the increase of traffic, against which it is wise to
make timely provision as essential to stability in the value of the
Company's capital.
" The union of the two Companies having happily placed them in
a position to act in perfect accord on matters affecting the accommo-
dation of the public, whose interests are necessarily associated with
their own, the directors of the Amalgamated Company have not been
backward to profit by the advantage.
" They have already adopted a uniform and reduced mileage rate
of fares for the passenger traffic, and are occupied in the considera-
tion of the moat effectual means of conveying both goods and passen-
gers with the greatest punctuality and • expedition consistent with
safety, and at the lowest prices wilich the fair remuneration of the
proprietors will admit of. It would be premature to enter into details
eommected with this subject, whilst the Bill for giving a legal sanction
to the amalgamation is yet:before Parliament ; but the directors of
this t ompany may be allowed to state, that with a view to the in-
creased and increasing traffic, they have thought it expedient to
adopt measures, of which the following is a summary :•
" The enlargement of the Euston and Camden stations and ap-
proaches, and the establishment of a more central station at Birming-
ham, for Which a Bill is now before Parliament.
" A second line of rails from Northampton to Peterborough, which
they expect will be completed this summer.
" The establishment of coal stations at various points of the line,
and the construction of additional shed room for the goods traffic
gAterally ;
" And an increase of locomotive and carrying stoek of all descrip-
tions, to an extent which, when the contracts they have entered into
are fulfilled, will, they expect, be fully adequate to every emergency.,
"The I drectors contlue to receive satisfactory accounts of the prlr
greys made in the construction of the railwas s with which the
Company is directly connected, comprising the Lancaster and Carlisle,
Chester and Holyhead, Trent Valley, and Bedford and Bletchley
lines.
"As regards the Chester and Holyhead Railway In which the
Company's stake is the largest, the engineer, Mr. Robert Stephenson,
reparts that the experiments which have been made for the purpose
of testing the efficiency of his plan of bridge over the -Menai Straits,
having fully verified his calculations, the construction will commence
at an early period. The reports of the Directors on that line are
equally gat sfactory as to the progress made with the other works.
"lit addition to Bills for projected lines in which this Company is
interested, and the objects of which have been already stated to the
proprietors at former meetings, the directors have considered it ex-
pedient that a branch shall be made to unite the town of Stamford
with the main line at Rugby, in the view of completing, without
whi the public accommodation in that district would be imper-
fectly provi ed for.
" The directors have also taken a portion in the line for connecting
the Camden Goods Station with the East and West India Dock, for
which a Bill is now before Parliament.
" The directors, in pursuance of the fourth resolution of the last
half-yearly meeting, have elected the following five directors, viz.:
Hon . Colonel George-Anson, M.P., John Beabow, Esq., M.P., John
Ellis, Esq., Edward Tootal, Esq , and Joshua Proctor Westhead,
Esq. ; and they have also elected Frank Somerville Head, Esq., to
fill the vacancy caused by the retirement of Robert Garnett, Esq.
" The following directors go out. of office at the present meeting,
and are re-eligible :—Pascoe St. Leger Grenfehl, Esq., David limns-
son, Esq., Joseph Frederick Ledsatn, Esq., Captain Constantine It.
Moorsom, lt.N., John Lewis Prevost, Esq., and Thomas Smith, Esq.',
Resolutions receiving the report, and confirming the divi-
dend announced therein, were then pu•t from the chair, and
carried unanimously.
Mr. Amrlizesr, in connexicn with many gentlemen from
the north, moved, in terms of a notice Oven at a previous
meeting, that the shareholders residing in the country 'should
he permitted a free passage to attend the meetings of the
CAuparty, and as it was sometimes impossible that they
could arrive in town and depart on the same day, that they
be permitted to come up on the day before the meeting and
leave town the day after.
The resolution was seconded.
A long discussion ensued, the great body of the meeting
affirming that this system was likely to lead to abuses, and
that as the dividends were sufficiently ample, the share-
holders should pay their fares. On the question being put,
the resolution was negatived by an immense majority.
Mr. SrAnnow thought that while so many improvements
were in contemplation, the providing of a larger board-room
should not be overlooked.
- - -

The CHAIRMAN intimated that when the extensions at the
station were completed, this evil would be remedied.
Mr. DICKENSON complained of the retention of goods at
the Crewe station ; imputed no blame to the managers ofthat
department at the Euston station; their arrangements were
perfect, but he thought that a little surveillance would im-
prove the stansynw further down the country.
The CHAIR3IAN said that they could not always control
private carriers, to whom the goods might be consigned after
leaving the railway, but he would make inquiry into the
matter complained of.
This completed the business of the general meeting, and
the shareholders formally adjourned.
The meeting was then made special for the purpose of ap-
proving the Bills referred to in the Chairman's address.
The following Bills were then severally put from the chair
and unanimously approved of by the meeting :

Three Bills to authsrise the construction of railways from the

London and Birmingham Railway ; one of such railways from cr
near the Harrow Station to Aylesbury; another thereof from or near
the Tring Station to Banbury; another thereof from or near the
Bletchlcy Station to the city of Oxford.
Three lulls to authorise the construction of railways from the
_ _

London and Birmingham Rail ivay ; one thereof from or near the
Hampton Station to Banbury ; :moth r thereof from or near the said
'Hampton Station to Join the Birmingham and Gloucester linilway, in
the parish of Ashchurch, in the county of Gloucester; and anoth: r
thereof front or near the Weedon Station to the city of Il'orcester,
with a branch to the town of Alcester.

A Bill for making a railway from the London and Birmingham
Railway, at Coventry, to join the line of the Trent Valley Railway-
in the p•.riah of Nuneaton.

A Bill for making a railway from the London and Birmingham
Railway, In the parish of Weedon Beck, to join the Blisworth awl
Peterborough Railway in the parish of Ilardingatene.
A Bill for extending the line of the Coventry and Leamington
Branch of the London and Birmingham Railway to the town of Lea-
mington Priors.
A Bill to authorise the extension of the London and lairmingbarn
Railway to Navigation-street, in the town of Birmingham.
A Bill for making a railway front the London and Birmingham
Railway at Rugby to the town of Leamington.
ABil u
Bill or for making a railway from the London and Bir-
minghamy, in the parish of Aston juxta Birmingham, to the
Grand Junction Railway, in the parish of Buabbury, in the County of
Stafford, with branches to Dudley.
And also to authorise certain arrangements between the London
and Birmingham Railway Cotnpany, and the Company of Proprietors
of the Birmingham Canal Navigations, with reference to the pur-
chase, or leasing, or use of the said navigations.
A Lill or Rills to authorise and empower the union and consoliaa-
tion into one undertaking of the London and Birininglutin Railway,
the Grand Junction Railway, and the Manchester and Birmingham
Rail:l-ay; or for erecting such amalgamation separately between the
London and Birmingham and Grand Junction Railway Compauieq,
and the London and Birmingham, and Manchester and Birmingham
Railway Ccanphnies respectively.
A Bill for mating a railway from or near the Bliaworth Station, on
the London and Birmingham Railway, to the towns of Banbury and
Cheltenham.
A Bill for making a branch railway from the London and Birming-
ham Railway, at or near Rugby, to the town of Stamford.
A Bill for making a branch railway from the London and Bir-
mingham Railway, at or near Wolverton, to the town of Newport
Pagnell, and thence to join the line of the Bedford and London and
Birmingham Railway.
A Bill to authorise the purchase of the Aylesbury Railway,
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A Bill to empower the London and Birmingham Railway Com-
A Bill for making certain alterations in the line of the West
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pan yto enlarge their stations near Easton-Sq ,
town, in the cowaty of MicialeSez•
In the course cf these proceedings, and while the. qution