The Sun.
London, England, 1846-08-11 00:00:00

KENT ATMOSPHERIC RAILWAY

(THIS DAY.)

A general meeting of the proprietors of the above railway,
was held, at one o'clock to-day, at the London Tavern,Bishops-
gate-street, for the purpose of receiving a report from the
committee of management, and to consider the course to be
adopted.
W. A. WILKINSON, Esq., presided, and opened the business
of the meeting by requesting the secretary (Mr. R. S. Young)
to read the advertisement convening the meeting, after
which, he read the foll,wing

REPORT OF TII F. COMMITTEE OF MANAGEMENT TO THE
GENERAL MEETING OF SC RIPHOLDERS.

"The scripholders will remember that this undertaking was de-
signed for the twofold purpose of affording additional and improved
railway comraunicrtion to the county of Kent, and of protecting the
interests of the Croydon Railway Company, and that accordingly a
comprehensive scheme of railway communication was laid down
through the northern and central districts of the county, in connexion
with the Croydon Railway.
" The entire scheme comprised about 130 miles of new railway,
and required a capital of 2,500,0001., which was divided into 100,000
shares of 231. each.
" The Croydon Company, with a view to the promotion of the
undertaking, entered into a guarantee that the expenses, in the
event of no Act of incorporation being obtained, should not exceed

10,. per share.
" The applications for shares exceeded the requisite number, and
there was every reason to conclude that the far greater portion of
the 92,00 shares allotted would have beets duly paid upon. The
change, however, in public opinion was so great, that deposits were
received on only 42,809 shares.
" Under these circumstances, your Committee had to consider the
best course to be pursued. Great expenses had already been in-
curred in the surveys, which would have been entirely thrown away,
and fallen exclusively on the Kent Atmospheric Company, had the
scheme then been abandoned ; whilst, in the prosecution of the
entire scheme, by any arrangement with other companies, or with-
out any such arrangement of any modified scheme, the future ex-
penses would be borne principally by the Croydon Railway Com-
pat.9l,. under their guarantee.

_ "Your Committee first turned their attention to the possibility
of carrying out the scheme iu its integrity, and with that view
they approached the amalgamated Committee of the Brighton
and Croydon Companies, to ascertain whether, by their assist-
ance, the remainder of the required capital could be provided.
Your Committee were met by a promise of the necessary assistance ;
but, as the arrangement would have placed the Kent Atmospheric
Railway Company too much in the power of the Brighton Rail-
way Company, whose interests might not In certain events be found
coincident with those of the Croydon, and Kent Atmospheric Com-
pany's—it was considered for this and other reasons connected with
the state of public opinion, inexpedient to avail themselves of the
proffered assistance. .

- " Your committee next opened a negotiation with the North Kent
Company, which resulted in an arrangement to the effect, that the
Kent Atmospheric Railway Company should confine their application
to Parliament to a line to Tonbridge and Maidstone, and that the
North Kent Company, if they succeeded in obtaining their Act, should
pay to the Kent Atmospheric Company 10,0001. towards the expense&
already incurred, and give them, besides, the option of taking 5,000
shares in the North Kent Company.
"Tour Committee were induced to assent to this arrangement upon
the following considerations :—Much money had already been ex-
peticied ; the North Kent Company's success was sanguinely antici-
pated ; their scheme, in conjunction with a line through Slid-Kent
to Tunbridge and Maidstone, was calculated to afford, though
perhaps less completely and advantageously, as much railway
accommodation to the county of Kent as the entire plan
of the Kent Atmospheric Railway Company—the interests of the