The Sun.
London, England, 1846-04-21 00:00:00

LONDON AND YORK RAILWAY.
To the Scripholders and Subscribers to the Deed of the above

Company

A Committee of Shareholders in the London and York Railway
has been formed, with the view of considering the prospects of ties
line, and whether anything call be done to lessen the responsibility
of the Sharoholders, or in any way improve their position.
The-Committee view with alarm the daily deprechiti a which is
taking place in the market in the shares of all new lines, and that
this depreciation increases in the shares of those Companies which
are most likely to obtain Bills.

The expensive contest In Parliament of the London and York Cem-
pany mast absorb all the deposits. If the Act be obtained, culls must
immediately follow; and the majority of the scripholders will avoid
registmtien, knowing that they w,ll have opportunities hereafter of
coming into the undertaking at a much lower price. The calls must,
therefore, be enforced against those who have signed the Parlia-
mentary Contract.
This fearful position of matters has induced the Committee to con-
sider that probably the Eastern Counties Company, who are the strong
opponents of the Loedo i and York Company, dear, for the sake of
protection and certain ty to their own shareholders, be still open. to
some liberal compron is ~ and that the London and York directors
aed shareholders ought, either by dintinisidog the extent of their
undertaking (and creverp etitly lessening the ameunt of calls to re-
'eve the pressure which will come en their euescribo,), or by some
absorption iri the Eastern Counties Company, obtain a participation
in an undertaking yielding a present profit, iu,tead of one whose re-
tail, if ever obiained, will not be'arrived at without years of painiul
sacrifices and distre a.
With these views, the Committee think stets ought to be immedi-
ately taken to open a negotiation with the Eastern Counties, if not
to dissolve the London and Yo k Company.
In the opinion of the committee, either the line south of Peter-
borough ought to be abandoned, and the shares reduced to 201. e ich,
or the line sh uld be given up to the Eastern Counties Company, on
their agreeing to pay the whole or a portion of the expenses, and
giving shares iii their Line rte originally propoeed.
The statement below, showing the past and present petition of
several well-supported Companies who, before the Committee of the
House of Commons, -clesrly showed a return on their capital from 6
to 8 pre* cent., proves that success on the part of the London and
York Railway, in rAtainine their till, will enfell ruinous le-is on the
Subscribers old scripholders ; aid if any other argtnnent was needed
to maintain the views of the Committee, the following eat rest !rem
the" Times" of the Bih of April, might alone be mel sufficient :
" The character of the crisis, and its effects on the new lines, are
graphically illustrated in the catastrophe of the Lendou and Oxf ird
Railway, us reported in ye,terdny's paper: -
" `Mr. I. K. Brunel, examined by the Chairman.—The prices have
so increased since the Acts were obtained, that the lines mentioned
above (the Oxford and Worcester, and the Oxford and Rugby) can-
not be constructed at the estimated prices. Considers that the con-
struction of railways is now 50 per cent. more titan at this time last
year.
" ' At this point of the proceedings the Chairman said that :the
Committee thought it unnecessary to hear . any more evidence re-
specting tee London and Oxford Line; and, accerdingly, after the
room had been cleared for a few minutes, the Chairman announced
. that the Committee were unanimously of op nion tbat the preamble
of the London and Oxford had not been prow d.'"
The Committee beg to direct the attention of the shareholders to
the official announcement of the Government's intention to immedi-
ately introduce an Act investing the scripholder with such power,
that a majority in number and value duly registered at any public
Meeting will prevent the further progress of any Bill in Parliament;
and as the London and York Railway Bill will, in a very few days,
have to appear before a similar tribunal as that of the defunct London
and Oxford, the Committee are, therefore, very anxious at once to
ascertain if the shareholders concur in any of their views, for which
purpose the following printed form may be obtained at the Com-
mittee-rooms, and every shareholder and subscriber to the deed is
earnestly requested to return the same signed immediately, in order
that the directors may be conferred with, or a public meeting con-
vened, as mey, be deemed most expedient for the protection of the
interests of all parties.

To the Committee of the London and York Shareh,iders.

Gentlemen,—l am a scripbolder of • Shares in the London
and York Railway, and am desirous, Firstly, of having the Line
South of Peterborough given up, so as to lessen the cost ; or, Secondly,
of having terms made with the Eastern Counties Company f‘r an
abandonment of the London and York Ra.lway and AmaigarnaVon
with the Eastern Counties Line, or, Thirdly, of having the C mpany
at once dissolved.
I would prefer the • of these alternatives, and I authorise
the Coma ittee of Shareholders to represent my opinion to the Legis-
lature, and to pray Parliament to carry the same into effect, or to re-
ject the London and York Bill.

Name in ful
Residence.. .
Date .. • • ...
Numbers of
• Here insert the word " first,"

11 ... . ..... • ..

Scrip ..
" or " second," 0]

X s. d.
10 0 0
10 0 0
12 10 0
20 0 0
7 10 0
4 10 0
5 0 0
12 0 0

Caledonian ...... .• • ••
Aberdeen .. • • .. • • • • • • ••
Oxford & Wolverhampton
Chester and llolyhead • .
Dundalk and Enniskillen
Newry and Enniskillen .
south Wales •• •. •• ••
Waterford and Limerick

X. s. d.
12 0 0
6 0 0
14 0 0
6 0 0
3 0 0
3 0 0
5 0 0
8 0 0

By Order of the Committee,
HENRY PHILIP
Landon and York Committee, 4, Sise-lane, Londo]
April 14, 1846.

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