The Sun.
London, England, 1846-10-27 00:00:00

.- 333,000

Leaving applicable to the comple-
tion of the main lines
3. Of the branches capital of 276,000/
there has bean pAd up only a de-
posit of Id. per share.
" In addition to their share capital, the company were
entitled to borrow to the extent of one-third of their
whole capital, and they have already availed themselves
of that power, on the North 'Wales Mineral Railway to
the extent of 90,0001
" STATE OF THE WORES.—The North Wales Mineral
Railway is now completed from Saltney to Ruabon. It
was inspected on Wednesday of last week, by Major-
General Pasley, and there is every reeson to believe that
his report will be perfectly satisfactory. The stations at.
Ruabon, Wrexham, and the intermediate places, though
nut all completed, are in a state to afford sufficient ac
'commodation for traffic. The stock of engines. carriages,
waggons, &c , required, is in readiness. A temporary
agreement has been made with the Holyhead Company,
for the use of that portion of the line between Saltney
and the Birkenhead terminus at Chester. Similar
arrangements have alto beer. concluded with the. Chester
and Birkenhead Company, after rather protracted nego
tiations, and from the fair and friendly spirit in which
the directors have been met, and the obvious benefit to
be derived from the traffic of companies so intimately
connected being placed upon terms of mutual advan-
tage, they feel confident that the details of the agree.
went entered into will be properly carries out. The
directors have learn. 11 with satisfaction that the
Chester and Birkenhead Company have also made con-
siderable progress with preparation for their proportion
of the goods traffic of the Shrewsbury and Chester line.
The directors have likewise turned their attention to
the means of providing for the carriage by water from
Saltney, for such portion of goods as may be more ad-
vantageously conveyed from thence by the river Dee or
the Ellesmere Canal. The mineral branch is rapidly
progressing, and will be in readiness for working in the
ensuing spring, when a considerable quantity of coals,
lime, and iron, will be brought upon the line, although
the full resources of the mineral field will necessarily
take a lager time to develop. The works upon the
Shrewsbury, Oswestry, end Chester line have hitherto
been mainly confined, as stated in the former report, to
the Dee viaduct, which requires a considerably longer
period to finish than the rest of the line. It is progress-
ing very satisfactorily. Agreements have already been
made for the purchase of the greater portion of the land
for the whole line. On full consideration, the directors
have decided on pressing on the formation of the line
from the Chirk viaduct to Salop, so as to permit 17 miles
of line to be opened, and prove productive, before t is
possible to complete the heavier works. The directors
are happy to say that their engineer reports that he will
be able to open this portion of the line early in the spring
of 1848, and the whole line he hopes to be able to open in
the autumn of the same year. The directors beg to
refer to the engineer's report, in the appendix.
" NEW BRANCIIES.—The directors having had th( it
attention called to the requirements of the important
districts around Mold, aqd on investigation having
ascertained that the best mode of affording railway ac-
commodation to Mold, and the immediate neighbour.
hood, would be from this line, they have caused a survey
to be made for the purpose of going to Parliament. The
length of the line is about eight miles; and the expense
of construction will be moderate. They also recom-
mend an application to Parliament to enable them to
form a commodious terminus at Chester, either by them-
selves, or in connexion with any or all of the neighbour-
ing companies, so as fully to accommodate the large
traffic, which must concentrate at Chester, for Liverpool
and Manchester, and other important towns.
PROSPECTS.—The directors having thus explained
the progress andfpresent position of the Shrewsbury and
Chester line, cannot help congratulaticg the shareholders
upon the result of the proceedings in the last session of
Parliament. Every line which in any way threatened
to affect their interests having entirely failed or been
thrown out of Parliament, whilst there have been ob-
tained, first, their two valuable branches; and, secondly,
two lines by independent companies, one from Shrewsbury
to Birmingham, and the other from Shrewsbury to Here-
ford, equal to this company's line in extent, running into
it, and placing it in the position of being the connecting
link between Bristol and Liverpool, and between Bir-
mingham, by North Wales to Liverpool. Further, the
line traverses, in its whole length, a populous and highly
cultivated country. The mineral field extends over six-
teen miles of the central portion of the line, from which
already a very large traffic flows towards both termini,
although the minerals have been won, and worked only
to a small extent. The line- possesses the advantage of
running from the sea into the interior of the country, a
position always favourable to the development of traffic.
IL is completely protected from the competition of car-
riage by water, which in so many cases presses heavily
on other lines. It further possesses this peculiar advan-
tage, that on arriving, at the terminus or shipping port
on the Dee, there are already existing three different
means of communication with Liverpool and Birkenhead,
competing for traffic; t3ad 0. fourth and most valuable

£347,000

one will, in a short time, be added to the number. These
are—First, the Manchester and Birkenhead Railway.
Second, the Ellesmere Canal from Chester, via Ellesmere
Port to Liverpool, by water communication all the way,
without change of boat. Third, the River Dee, w hich
affords, by means of steam- tugs, the cheapest conveyance
at present existing for goods and minerals to Liverpool.
An extensive project for the improvement of the navi-
gation of the Dee is in progress. The fourth means of
communication :with Liverpool will be the Cheshire
'Junction Railway and the bridge over the Mersey near
Runcorn. While holding these views as to the future
and not remote success of the line, the directors think
it right to caution the shareholders mot to raise their
expectations too high as to the result of the first opening.
It will obviously require some time to form conexions
with the various districts of Shropshire, Montgomery-
shire, Denbighshire, and Merionethshire, the traffic
of which, in goods and passengers, will be brought upon
this line, as their natural course; and until these arrange-
ments shall have been in some degree carritd out, it is
scarcely to be supposed that the traffic will afford a fair
indication of the future prospects of the undertaking.
The directors are endeavouring to facilitate such arrange-
ments by every means in their power. This cannot be
done effectually, however, in any way but by open com-
petition, called into action by the wants of the public.
It is in order to effect this, at as early a period as pos-
sible, as much as with a view to immediate 'Profit, that
the directors have been anxious to open the lino with as
little delay as they could ; and when it shall have been
fully accomplished, they feel confident that the most
sanguine anticipations of the shareholders will be
realised.

" The directors named in the Act are—William
Ormsby Gore, Esq., M.P., William Wardell, Esq., Sir
Richard Jenkins, K.C.B.' Robert Aglionby Slaney,
Thomas Dixon, Charles Wardell, John Rogers, William
Brown, John Williams, David Harrison, John Bethune
Ross, John Royle, George Mackintosh, William Bevan,
and Frederick Richard West, Esqs.; all of whom are
eligible for re-election, and offer themselves accordingly.
It will be necessary that this meeting appoint two
auditors, and fix the remuneration of the directors and
secretary. The directors recommend that Mr. Robert
Roy be continued in the office of secretary, with a salary
of 5001. per annum. The directors recommend that Mr.
James Smith, accountant, Chester, and Mr. Thomas Hill,
accountant. Oswestry, be appointed auditors, with a
salary of 201. each."
The lion. CHAIRMAN, in moving the adoption of the
report, stated, that since it had been printed, alletter had
been received from General Pasley, in which the gallant
officer said, " I have made a very favourable report of
your works." The proprietors would be extremely
gratified at hearing this, and he was happy also to bear
testimony to the amicable manner in which the arrange-
ment with the directors of the Chester and Birkenhead
Company had been carried out, for it was most essential
that all the lines running from the Severn to the Mersey
should be in union and goodfellowship. This line had
before it the prospect of as great a traffic as this country
could produce. It had not only the mineral fields of
South Wales, and the trade which was now carried on
coastwise, between Bristol and Liverpool, but also the
prospect of very considerable traffic from the districts in
the neighbourhood of Birmingham. Under these cir-
cumstances it was essentially necessary that harmony
should prevail; and he had the gratification of stating, that i
at meetings of two other companies over which he pre-
sided, the Shrewsbury and Birmingham, and the Shrews-
bury and Hereford, the shareholders were deeply im-
pressed with the necessity of the trig juncta in uno.—
(Hear.) The Chairman then adverted to a feeling of some
dissatisfaction with the shareholders, concerning the
purchase of some shares. They had mainly had the
interests of the proprietors in view ; and, under these
circumstances, they had deemed it right to issue circu-
lars to all the shareholders, to the effect, that if they
wished to be represented at the present meeting, they
might send their proxies to whomsoever they pleased.
To himself alone there had been confided proxies repre-
senting capital to the amount of 357,2901., the votes on
which were 7,466. This was entirely independent of the
votes he possessed in his own right, and of the interest
he had in the line. The gross capital of the company
was 548,9901., the votes on which would be 12,420.
The proxi, s he held were independent also of those
which had been sent to other parties. He returned his
thanks for the confidence which the majority of the
proprietors reposed in him. The Chairman than ad-
verted to another list for directors which had been sent
in, and stated that though he had no objection to their
names, he could not consent to those who had borne the
brunt of the battle being now turned out. If any one
went out he ought to be the first, seeing that he had
come in only at the eleventh hour. Some doubt had
been expressed as to the payment of arrears • but the
company need not be ashamed when he stated that since
the sth inst. 20,1251. had been paid up on those arrears.
He was further happy to say, that until the whole line
was opened from Chester to Shrewsbury, no more would
be called for than 61. per share—(Hear, hear)—and that
upon the North Wales Mineral Old Stock there would
be only one equalising call of 1/. per share.—(Hear.)
The Chairman concluded by stating that the line from
Chester to Ruabon would be opened to the shareholders
and their friends on Monday, Dec. 2, and to the public
the following day.
The motion for the adoption of the report was then
seconded, and unanimously carried.
Mr. DAuttv moved, and Mr. POTTS seconded, the re-
election of the directors, and that they be paid an allow.
ante of 8001. per annum.—Carried unanimously.
The salaries of the secretary and of the auditors were
fixed at the sums recommended in the report.
Mr. WILLIAM JACKSON, Chairman of the Chester and
Birkenhead Railway Company, moved the thanks of the
shareholders to Mr. Gore for his conduct in the chair,
and congratulated the meeting on the amicable relations
subsisting between the two companies. Mr. Jackson
included other directors and the solicitor in the same
vote, and it was unanimously carried.
The CHAIRMAN having returned thanks, a similar
compliment was paid to the engineer and the secretary,
and the proceedings terminated.

GREAT WESTERN and WYCOMBE

RAILWAY.

The first general meeting of the proprietors of this
company was held yesterday at half-past eleven o'clock.
Frederic Pratt Birlow, Esq., in the chair.
The CHAIRMAN said, the present meeting was for the
transaction of the ordinary business of the company,
preliminary to the special general meeting, which was to
succeed it. The directors were not under any obliga
tion to call the present meeting for several months, but
as a special general meeting was to be held at the close
of the- present one, and as the power of ' the directors
ccased on that day, it was necessary to hold the general
meeting for the election of directors before the special
husinass, could be gone into. When these two lines
were originally proposed the state of the railway world
was Much different to what it was now, . but from the
alb:red times end the -condition of the money market,
and 'in order to relieve the shareholders of frequent
calls for the construction of the line, it was thought best
that an arrangement should be come to with an
established company. But to make a treaty of the kind
referred to, the directors wished to be placed in the
position and to have the power to do so. The directors
•had found the directors of the Great Western Company
willing to treat with them; and although he (the Chair-
man) was not in a condition to lay any terms before
them at present, he had no doubt that some satisfactory
arrangement would be come to. All that was required
at present was for the shareholders to give the directors
power to treat, and for that purpose had the special
genth al meeting, which was to follow, been convened.
The SECRETARY then read the report :
"Whilst your directors have much pleasure in being
able, to announce to their shareholders the success at-
tending their application to Parliament for a Bill for
making a railway from Maidenhead to Wycombe, and
from West Drayton to Uxbridge, the Act for which has
been granted and the royal assent given thereto in July
last, they cannot but regret that the outlay should have
been attended with so heavy an expenditure compared
wish the magnitude of the undertaking. The Bill bad
to encounter a strong opposition in the Committee of
the House of Commons, of fourteen days duration, with
the London and Oxford projected Railway.
"The directors have convened the first general meeting
of the proprietors of the company, for the purpose of
conforming to the clause of the Consolidation Act, to
effect which resolutions will be submitted for your ap-
proval."

Mr. DELLONY moved the adoption of the report.
Mr. Tuosisorr scconded the motion, which was put
and unanimously agreed to.
Resolutions were then submitted and successively
carried, appointing Frederic Pratt Barlow, Esq.; Robert
Wheeler, Esq.; A. F. Paul, Esq.; George Emery, Eeq.;
Francis Parker, Esq ; and William Rose, Esq., direc-
tors, with 400/. a year, and nominating the secretary,
Mr. J. H. Wilson, at 1001., and two auditors at 5/. each.

GREAT WESTERN AND UXBRIDGE RAIL-

WAY.

The meeting next resolved itself into a general meet-
ing of the shareholders of this company. Mr. Barlow
in the chair.

The CHAIRMAN said the same report which had been
adopted by the Great Western and Wycombe meeting
would do for the present one, and the explanation he
had given of the affair-of the one company would suffice
for the other.

The report was then submitted and unanimously
adopted.
The resolution appointing the same directors as those
appointed for the previous company, and fixing their
remuneration at 2001 a year,, were agreed to, and the
salary of the secretary fixed at 1001.
This terminated the general business of both com-
panies, and