The Sun.
London, England, 1846-10-15 00:00:00

CAMERON'S COALBROOK STEAM
COAL MINE, AND SWANSEA AND LOUGIIOR
RAILWAY.

The first general meeting of the shareholders in this
railway was held at twelve o'clock yesterday, at the
offices of the Cowpany, 2, Moorgate-street, for the pur-
poses expressed in the several Acts of Parliament incor-
porating the company. Very few shareholders were pre-
sent, but upwards of 13,000 only of 20,000 shares of
the company were reVesented. Jacob Montefiore,
Esq , occupied the chair.
The CHAIRMAN, after explaining the object of the
meeting, called upon the secretal,y (Mr. llowden), to read
the report, which stated :
" That the directors had the satisi:ution to announce
that the Act of Parliament incorporatii:g this company,
and authorising the construction of the raiiiYay, passed in
the last session. The increasing supply of coal which
the manager is now enabled to give, and the extension
of the company's works, calls upon the directors to give
their best attention to the expediency of immediately
constructing the railway, being only 41 miles in length,
and being for the present to be limited to one line
of rail, they have every reason to believe it can
be constructed at a cost considerably under the
estimate. The directors have to assure the
shareholders that their operations in this respect will
be conducted upon the strictest principles of economy in
the expenditure, and at the same time with due regard
to the interests of the shareholders. In order that the
future yearly and half-yearly meetings of the share-
holders, as prescribed by the Act of Parliament, may be
in unison with the deed of settlement of the company,
the directors suggest that their meetings shall be held in
January and July, yearly, and that the directors of the
Coal Company and of the Railway Company shall be
the same, and elected in conformity with the provisions
of the deed of settlement." _

The report having been received,
The CHAIRMAN congratulated the sbnreholders on the
success which bad crowned their efforts to obtain the
sanction of Parliament to the construction of the rail-
way. They had had to encounter the most formidable
opposition at every step, but, owing to the great exer-
tions of their Parliamentary agents, their solicitor, and
the directors themselves, the Bill was passed.
Mr. ELDERTON, the solicitor, detailed the difficulties
against which they had to contend in seeking the sanc-
tion of Parliament to their Bill. But through the great
exertions of Colonel Cameron, who exerted his influ-
ence with the Members of the Legislature to the utmost,
they had succeeded—in fact, without his aid it would
not have been passed. He then explained some incon-
gruities in their several Acts of Parliament, and recom-
mended, to obviate inconvenience, that the directors of
the Railway and Mine should continue in office until
next July.
The directors and auditors were then elected, and the
seal of the company was affixed to the registry of
proprietors.
The CHAIRMAN said the works were now in full
operation, but in a few weeks they would be materially
extended, and the quantity of coal therefore materially
increased ; but as the meeting had more to do with the
railway than the mine they had not thought it advisable
to request the attendance of the manager of the works in
town ; but, in a letter (which was read) he stated that
the quantity raised was 2,000 tons a week, but when the
works were completed that there would scarcely be any
limit to the quantity to be worked, or which could be
sold at Swansea.

Mr. SMALLBONE congratulated the shareholders on
the value of the mine, and on the certainty of its becom-
ing a lucrative source of investment. He represented
the sentiments of a great number of shareholders, many
of whom, after visiting the mine, had invested a greater
amount of capital in it. It could not be considered a
speculation in which persons might take shares one day
and sell them at a small premium the next, but an
eligible source of investment, which would ultimately
realise a fortune to those who had embarked their
capital in it.
The SECRETARY said the Admiralty had expressed a
wish to test a sample of the company's coal. It was
supplied, and on Monday last it was tested by several
chemical gentlemen, and in the presence of several of
the directors, at Woolwich. The result was that it
came up to the " mark," and that it was a most superior
coal for steam and other purposes. He expected to
bear the opinion of the Admiralty in the course of a
day or two.
Mr. SMALLBONE apprehended when the works were
in efficient order that there would be no difficulty in
raising 10,000 tons of coal per week.
A vote of thanks having been voted to the chairman,
the meeting separated.