The Sun.
London, England, 1848-12-29 00:00:00

SAMBRE AND MEUSE.

The half -yearly meeting of this company was held
yesterday at the London Tavern; Mr. W. P. Richards in
the chair.

The Secretary read the reports.
The CHAIRMAN stated that the first section of the line
had been opened under circumstances of difficulty and
embarrassment, which seemed to increase as they ad-
vanced, and were far from being removed. He did not
consider the arrangement with the Belgian Government
respecting the traffic by any means satisfactory. The
directors, before nettling with the contractors, appointed
an English engineer to measure the works and re-
port on them, for which purpose Mr. Pinchbeck, one
of the late committee, was appointed. M. Grande-
voir, the company's engineer in Belgium, objected to
this appointment, and resigned in consequence, his
example being followed by all his dependents, with the
ception of one gentleman. Mr. Pinchbeck was then
selected to fill the place of M. Grandavoir, and be
(the Chairman) saw no reason to regret the change. He
thought the appointment of Mr. Sheward as resident
director in Belgium would be found very much to the
advantage of the proprietors. When the concession was
accepted by the company it was on condition of receiv-
ing certain tolls; they were allowed to take from the
Sambre to the Meuse for goods, if they were not taken
over the summit level, 4id. per ton per league, and if they
ascended the incline the charge was to be kid., and for
descending the toll was to be 44d., averaging sd. per ton
per league. They were higher than those charged on
the State lines, and were granted for the purpose of in-
ducing the investment of English capital in Belgium.
When the present Belgian Minister came into office he
fixed
erxreeepdno:re eadttoeadoifsptlaianone de. for
n per
toeverything simplifying
the Belgian tolls, by
charging 3d. per ton per league on all heavy goods, a
being
thatch awregnetd
along, wit htohuet line.re-
f
On application to the Minister for permission to open the
line, he refused to grant it unless they acceded to the
tariff of the Belgian lines, against which the directors
strongly remonstrated, and it was eventually agreed to
open the line on those terms, rather than excite great
opposition by an opposite course. Under the concession

the toll aver-aged sd. per ton per league, but they were
now taking 3d., and the fixed charge of 101, which was
divided between the company and the Government.
This alteration in their tolls only affected the through
traffic, the intermediate traffic on their line not being
affected by it. He concluded by moving the adoption of
the report _ _

Mr. MELLOR considered that the assistance given to
the development of Belgian resources by English capi-
talists entitled them to better treatment. Ile thought
the latter would in future be very unwilling to embark
in Belgian undertakings, unless the present policy was
departed from. The line not being finished, and in order
to accomplish the entire scheme, it became a matter
of considerable importance that they should well under-
stand their future position with the Belgian Government.
Mr. SHEWARD said they were told that though their
tariff would be reduced their gains would not, and that
at the end of twelve months they would be satisfied with
it. The loss by the reduced tariff would be about 12
per cent., but they would have an increase in the pas-
senger traEo of 17 per cent. The convention was for
twelve months, terminable on six months' notice.

It was stated that the money in hand would be suffi-
cient to complete the works on the first section of the
line. The company were bound to complete their under-
taking in three years, which would require about 380,0001.
for a double line of rails. The present passenger traffic
indicated that it would be three times that of the original
estimate. The company had expended 80,0001. on the por-
tion of their line not opened—viz., between Walcourt
and the Meuse.

Al ter some further observations the report was adopted,
and the election of tho new directors confirmed ; the
meeting then separated.

SOUTH DEVON.

Since the opening of the Torquay extension of this
line, the inhabitants of Brixham, Paignton, and of the
coast towns on the southern side of Torbay, have me-
morialized the directors for an extension of the railway
that now terminates at Tor, so as to give a continuous
pleasure line through the valleys and the coast of the
IV est of England. The approaching meeting to con-
sider the atmospheric question has been fixed to be held
at Exeter, and not, as usual, at Plymouth.