The Sun.
London, England, 1846-09-11 00:00:00

been . asked at all—(Hear, hear)—and he thought the
kilt' it that could be granted was, that at that meeting
tr .ey shculd have the opportunity of expressing (befora
4.he report was carrried) their assent or disapproval.
'One word before he sat down there was no
foundation for the reports which had been so industri-
cusly circulated, that the locomotive arrangements of
the Company were most irregular and uncertain. He
was happy to bear his testimony to the fact, that, with
the exception of a few irregularities unavoidable under
some circumstances, there had been nothing to complain
of in this department. He besought the directors t 6 re-
scind their late resolution with respect to fares ;
'le assured them that the course they had adopted
was most injurious to the reputation of the Company.—
(Loud cries of " No, no," " Yes, yes," and great con-
fusion.) He repeated that such a course was most in-
jurious—(lncreased confusion)—most injurious to the
reputation of the Company, and the opinions of the
county of Kent would confirm his statement.---(Hear.)
He would move an amendment, that the proprietors
agree to the report with the exception of the partieul'ar
paragraph which referred to the increase of the "rates
of fares.
The CHAIRMAN said that he had looked. into the
report, and he could see nothing in the parapircaph which
called upon the shareholders to affirm th a decision of
the directors. They had, by virtue of the trust reposed
in them, altered the rates of fare, and there
was, therefore, no necessity for the shareholders
to record a vote in their favour in this
particular. lie thought that the one fact mentioned in
their report was conclusive as to the propriety of regu-
lating the fares, he meant that paragraph which stated
that, with a vastly increased passenger traffic, the amount
was less per mile than by their former system.
The London and North-Western Railway had been held
up as a pattern for all railways. He trusted that as re-
garded the dividend to be declared, they (the South-
Eastern) would soon imitate their example—(Cheera)---
but he hoped that Company would ;lever adopt as a pat-
tern the conduct of a company which sent oray third-
class carriages once a day.—(Hear, hear.) Re thought
that the inhabitants of the county of Ker.'t had good
reason to think the. South-Eastern Company their
friends, they having spent no less thar, five millions of
money among them.—(Hear, hear.)
Mr. JENNINGS rose to support Salomons' amend-
ment, and in a long speech d. pr ecated the policy pursued
by the Company.
The report was then cut and carried almost unani-
mously.
Mr. SALOMONS said he would give the shareholders
present an opportunity of recording their opinions by
entering the following notice on the minutes :—" That
in adopting this report the meeting does not intend to
pass any 'pinion on the increase of fares."
Af'.er a desultory discussion on some points of lesser
interest, the remaining resolutions (all of theta being in
itcaT rdance with the report) were carried.
The dividend declared was 17s. per share on the paid-
Ur.) shares, and 8s 6d. and ss. Id. on those lately created.
Thanks were then voted to the chairman, and the
meeting adjourned.

IPSWICH, NORWICH, and YAR-
MOUTH RAILWAY.
A meeting of the shareholders in this Company was
held yesterday, at the London Tavern, for the purpose of
determining whether the Conviiany should be dissolvefl.
F. VALENTINE, Esq., having taken the chair, and
Messrs. Borrit, Stephens, and Maqueen having been ap-
pointed scrutinr.,ers, reported that the requisite number
of shares represented were present. They amounted to
20,735.
Front the report it appeared, that previously to en-
gaging in the Parliamentary contest, the directors took
the necessary steps to ascertain the feelings of the
skareholcers, and having found that they had a majority
rf 20,000 votes in their favour, they felt justified
in taking the Bill before Parliament. On the rejection
of the Bill by the Select Committee, the directors im-
mediately proceeded to call in the accounts, and refunded
255. on each share, which appeared to give such uni-
versal satisfaction, that in three days two-thirds of the
scrip was produced for registration. The directors had
now determined to return a further dividend of 4s. a
share. The report concluded with 'a compliment to the
secretary (Mr. Frederick Bigg) for his ability and inte-
grity in conducting the affairs of the Company.
From the balance sheet annexed to the report, it ap-
peared that the total expenditure had been 29,3431.
Bs. 11d., and the balance in hand 11,667/. Is. Id.
The CHAIRMAN said, the question next to be
proposed was, whether the Company should be forthwith
dissolved ?
Sir EDWARD BUXTON, Bart., said, that before
that motion was put he would say a few
words on the present position of the Com-
pany. Some of their directors had had interviews
and negotlEions with the directors of some great com-
panies in that part of the country through which the
line was to have passed. It had been proposed by the
Norfolk Company to take up their line. That company
would either provide the requisite capital, and after that
tkey would give them (the present company) an advan-
tage to the amount of perhaps half the stock—(Hear)--
or they (the present company) should dissolve; then the
Norfolk Company would give an equivalent which should
be considered to amount to half of the profits. That
negotiation was at present going on. They could not
certainly come to any resolution on the subject on the
present occasion, but he thought the shareholders
should be made acquainted with the matter. The
Eastern Counties Company had expressed a most friendly
feeling towards them, and were every way inclined to
assist them. What he proposed under these circum-
stances was, that these matters should be left in the
hands of a managing committee, and if anything definite
were concluded upon that the shareholders should be
apprised of the same, with a view of ratifying such,
should it be approved of by them.—(Hear, hear.) The
Hon. Baronet then proposed that the Company should
be dissolved.
The resolution being seconded,
The CHAIRMAN said, as Chairman of the Company
he would submit a few observationson the transactions of
the Company. At the last meeting that he had the honour
to address them, he stated that he thought the expenses
'would not be more than 10s. per share. The Company
originally consisted of somewhere about 60,000 shares.
All the shares taken by the directors were still retained,
and there was nothing of jobbing in their transactions.
Out of the number of shares that had been allotted,
53,665 shares had been paid up on. (The Chairman
here passed a high eulogium on the engineer, solicitor,
and other officials of the Company, and read the report
of the Chairman of the Committee on the Bill, which re-
)ected the Bill on the ground that they did not think
Yarmouth entitled to have a competing line for eight
miles, but expressed a hope that the parties interested
'would enter into some arrangement for the construction
of a line analogous to the present, and be prepared with
by next session. Now the feeling on the part of the Com-
mittee was, that these two opposing lines should have amal-
gamated. He had to say a word with respect to the
expenses that had been incurred. He had pledged him-
self that these expenses should not exceed ten shillings
a share, and the directors were anxious to carry out that
pledge, not only with respect to the expenses already
incurred, but with respect to any future expenses. They
had been met in a very liberal spirit by their solicitor,
engineers, and other officers, who had reduced
their demands considerably. Notwithstanding, how-
ever, they had incurred expenses to the extent of
1 ls. 9d. per share. The Chairman concluded by some
very complimentary) observations with respect to the
conduct of the secretary, and suggested that after the
proposed dividend should be paid, they should apply
the surplus of lid. or 2d. a share to a pecuniary re-
compense for the service of the secretary and the other
officials.
The resolution for a dissolution of the company was
then put and carried unanimously.
It was then put to the meeting whether the dissolu-
tion of the company should be taken as an act of bank-
ruptcy, and unanimously negatived.
A SHAREHOLDER here stated, that when he heard of
the Company's being about to be dissolved, he consi-
dered it as some trick of the directors. He applied,
however, for some information on the subject, which
was afforded him with the greatest readiness, and the
result was such as to impress him with a conviction of
the rectitude of the directors. The accounts, &c., were
subsequently submitted to his solicitor, who expressed
his satisfaction of the conduct of the directors,
who, it appeared, so far from reaping any ad-
vantage, had sustained some losses from their
connexion with the company. He would propose that
the surplus mentioned by the Chairman should be ap-
propriated to the remuneration of the secretary and
the other officials.
This motion was postponed till after the legal business
of the meeting had been concluded, but it was then
carried.
In the interim thanks were voted and acknowledged
by the Chairman.
The meeting then separated.

LONDON AND BIRMINGHAM EX-
TENSION, NORTHAMPTON, DA VENTRY,
LEAMINGTON, AND WARWICK RAILWAY
COMPANY.
The second and final meeting of the shareholders in
this company took place yesterday, at the Hall of Com-
merce. The object of the meeting was to ascertain the
opinion of the proprietors, as to whether the company
should be dissolved or not, and it was rendered neces-
sary in consequence of there not being at the last meet-
ing a sufficient number of votes present legally to con-
stitute it.
Mr. POCC:CIC took the chair shortly after one o'clock,
when the secretary appointed at the last meeting pro-
ceeded to take the votes that were not tendered then.
The CHAIRMAN, before announcing the numbers, in-
quired whether any of the directors were present, and
whether they were desirous of giving any information to
the shareholders.
Mr. HoPKINS and Mr. MORRISON, two of the directors,
stated that they were willing to give any information in
their power to the shareholders.
Mr. BLURTON wished to know how it was that the
directors had refused to call a meeting, and had not laid
the accounts of the company before the shareholders.
Mr. HoraiNs said that proceedings had been taken in
Chancery against the company, and until that was
arranged, it was impossible satisfactorily to make up the
accounts.
The CHAIRMAN wished to know whether the direc-
tors would be willing, provided a committee of the
shareholders was appointed, to afford the shareholders
all the information they required ?
Mr. HoPKINs, for himself, saw no reason why any
objection should be made to the adoption of such a
SOW&
The CHAIRMAN wished to know whether the directors
had come to any resolutions upon the subject ?
Mr. HOPKINS said that it had been the subject of con-
sideration with them, but they had come to no specific
resolution on the subject.
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