The Sun.
London, England, 1846-05-23 00:00:00

RAILWAY LEGISLATION.

TO THE EDITOR OF THE SUN.
SIR,—It has been a maxim with me, during the course of
my experience, to avoid rushing to extremities. Now, as
the Americans say, I am in a regular fix, being compelled
by circumstances to do so. My case stands thus :—I hold
100 shares in a new railway, which, when constructed, is
certain to yield some 7 or 8 per cent. on the outlay, but I
confess I am not prepared to pay up the calls on my shares.
What, then, am I to do? I am called upon to say aye or nay,
to the following question sou, or will you not, agree
to dissolve the company, ang thereby abandon the scheme
sn toto 7 Of course, in the present position of affairs, I must
agree to the winding up of the concern, and thereby cast to
the winds all my fair prospects.
Now, Sir, as my lot is• the lot of many, I would recom-
mend that, in such cases as the above, it be optional with the
shareholders either to abandon the scheme totally, or other-
wise to postpone their application for a Bill until another ses-
sion ; in the mean time, the surplus of the deposits, after
payment of expenses, to be returned to the shareholders (and
their scrip cancelled), with a certificate of their being en-
titled to an equal number of new shares, on payment of the
necessary funds, in the event of the Bill being applied for at
any future time.
Some such arrangement as this seems imperatively called
for, otherwise every one of the new railway schemes, with
the exception of those few which happen to stand at a pre-
mium, will be broken up ; and it must be admitted that there
are numbers at a discount in the market which are absolutely
necessary for the national exigencies, and have every pro-
spect of yielding a most remunerative return to the pro-
prietors.--I am, Sir, your most obedient servant,
A FRIEND TO RAILWAYS.
Wells, bray 16, 1846.

NEW Ablate HAIL IN LONG-ACRE.— The Mercers'
voinPany have tat an extensive piece of ground in Charles-street,
13Td ri-44tue-. and Long-acre, on which it is intended to erect a music
*4 *4koilaz plan as that 1h wee-street, Detuordiquani

MR. MAXWELL'S NEW WORK.
Now ready IA all the Llb:aries, in 3 vols.,
CAPTAIN O'SULLIVAN;
or,
ADVENTURES, CIVIL, MILITARY, AND MATRIMONLAL, OF

A GENTLEMAN ON HALF-PAY.
By W. H. MAXWELL, Esq.,
Author of " Stories of Waterloo," itc.
Henry Colburn, Publisher, 13, Great Marlborough-street.

COMPLETION OF THE STANHOPE MEMOIRS.
Now ready, in 3 vols., post Svo., with numerous Illustrations,
31.. 6d. btind.l
TRAVELS of LADY HESTER STANHOPE.
Forming,
THE COMPLETION OF HER MEMOIRS.
Henry
.Colburn, Publisher, 13, Great Marlborough-street.
To be bad of all Booksellers.

1. The PROTECTIONIST PEERS and the MOTIVE PEOPLE, by
COTTON TWIST.

2. EXTRAORDINARY POSITION of the GOVERNMENT; its
MINORITIES AND PROSPECTS.
3. THE INDIAN MAIL AND THE IN lAN POLICY.
4. THE SPLIT in Conciliation-hall, with all the News of the Week,
IN THE WEEKLY CHRONICLE of SA-
TURDAY and SUNDAY, tha 231 and 24th of May instant.
THE NEWSPAPER PRESS DIRECTORY characterises this journal
as the " Ablest" of the " Popular Papers." It says there is no
" Paper conducted with more talent or success," and that " it is
especially remarkable, not only for the great quantity of news it affords,
and the ,dmirable arrangement of Its matter—well illustrated by
accompanying observations—but for the ability and variety of its
original articles, in the form of leaders and letters. 'I he advantage
of this ability is enhanced by its being displayed on other than mere
political questions, so that the range of topics is more large and gene-
rally interesting. Thus it is worth mentioning, that it was the only
paper which, during the late controversy between the Press and the
Bar, took up the case of the latter, in a series of letters marked by
great talent."

Office, 337, Strand.

RAILWAY SHARES BY PUBLIC SALE.

pu[ESSRS. LAMOND, SMALE, AND
LAMOND, Railway Share Auctioneers, beg to thank their
Fr;ends and the Public for their continued support and patronage,
and to announce that their Public Sales of Railway Shares, &c.,
take place every TUESDAY and FRIDAY. at One o'clock, at the
Hall of Commerce, Threadneedle-street, London, to which place
favours, containing instructions (with a reference), are respectfully
requested to be addressed.

All Scrip and Share Certificates must be deposited for exa-
mination at least one day previously to their being offered ; and
advices of results will be forwarded by the first post after the sale,
ant the proceeds immediately disposed of according to instructions.
Offices. Hall of Commerce, Threadneedle-street, London.