The Sun.
London, England, 1846-10-28 00:00:00

YORK AND NEWCASTLE

A special meeting of the proprietors of this company
was held shortly after.
Mr. HUDSON again presided, and there was a very full
attendance of shareholders.
The CHAIRBIAN then said•—With reference to the first
resolution, it is similar to the York case. The authority
to create the capital to which it has reference was ap-
plied for in the House of Commons under a declaration ;
by this means we saved the necessity of making a
deposit ; and this resolution is mcrelf to confirm what
you have already done. The second resolution, and the
succeeding ones, provide for the purchase of the Great
North of England Railway and its works, by the creation
of 159,000 shares of 251. each, on the terms therein con-

tained, that purchase having to be completed by the year
1850. Gentlemen, the last time I had the pleasure of
meeting you, I had the satisfaction of informing you that
the Great North of England Railway was no longer a

losing concern to us, b that it was paying itseff and
something more • andut I
have no doubt that when the
Newcastle and Berwick Railway is opened it will add
materially to its receipts, on the York and Newcastle
line ; and in 1850 I hope:to be able to pay you the same
dividnd on the entire capital as you are receiving at
present. When all our works are completed and
opened to the public, we shall have 225 miles of railway
at a cost per mile of 29,4661. Therefore this reduces
the large price which we have to pay for the Great
North of England ; and, taking the whole together,
it does not make what we, in railway language, con-
sider a very heavy average. The Midlands cost a much
larger sum, and the Manchester and Leeds averaged
about 60,0001. a mile. We shall have 225 miles of rail-
way at an average of less than 30,0001. a mile. By
spreading over a large extent of railway the average cost
per mile is thereby reduced, and we all well know that
the great security to railway property consists in the
low price at which it has been constructed. Now, in
the application of this principle, I have suggested over
and over again, and reflection, and everything I have
seen, convinces me that it would be a wise measure if we
united with the Newcastle and Berwick Company. We
should then have nearly 100 miles of additional railway
to include in the average, and an arrangement is now in
course of progress by which the Newcastle and Berwick
Company will probably apply in the next session of Par-
liament for an extension of fifty miles of branch railways,
and I think profitable branches too, and very advan-
tageous to the Newcastle and Berwick Company.--
(Applause.) If this is accomplished, and the two com-
panies become united, we should have 370 miles of rail-
way. I have made an estimate, along with Mr. H.
Wood, who has a local knowledge of the county,
that these fifty miles of branch railway can be
constructed for 10,0001. a mile, being through
a cheap, easy, and economical country. The
capital of the York and Newcastle Company, including
the purchase of the Great North of England Rail-
way, will amount to 6,625,0001. If you amalgamate the
two concerns—which I hope you will do—you will have
iles of
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reduces the average very materially, and you will have
375 miles of the best lines in England.—(Applause.)
Althouz-h this is not a Newcastle and Berwick meeting,
still I think it may be interesting for you. to know the
probable position of that company. Last week I had
the satisfaction of riding on the whole length of the
Newcastle and Berwick Railway, when I examined
every contract, and saw the position of the whole works,
and I will pledge you this—that no bridge built on the
line will give way, whatever may be the floods; which
they may encounter.—(Applause.) I never saw more
substantial works in my life, and no person who takes an
interest in works of this character can fail to be ex-
tremely gratified, at the substantial and handsome man-
ner in which they have been executed. -Gentlemen,
hare no doubt that the Newcastle and Berwick Railway
will he opened by the month of February next. You
are also aware that the contractors are proceeding very
rapidly with the high level bridge at Newcastle. Nearly
the whole of the property required for the approaches
has been purchased, and a large quantity of it paid for.
The houses are being pulled down, the arches are being
built on the land side, and the works are proceeding
most rapidly on the river. We have got Nasmyth's
steam piledriver, which drives piles with the most won-
derful facility. No doubt the bridge will be completed in
less time than was originally anticipated, and you may
rely upon it that everything which exertion cats do to
push on the works wi be carried out with the utmost
vigour possible.—(Loud applause.) I know that some
parties have an objection to the two companies being
amalgamated; but I think it would be a great improve-
ment if all the lines were amalgamated to Edinburgh.—
(Renewed applause.) You see what has been done by
the amalgamation of the Newcastle and Darlington, and
the Great North of England Railways. lam sure that
my sanguine friend (Mr. Oxley) never anticipated that
before the opening of the Newcastle and Berwick Rail-
way we should; be able to pay them 10 per cent. divi-
dend, without loss to ourselves. When a series of lines
are in the hands of one company it is extraordinary what
an increase of traffic takes place, and great facilities are
thereby derived for the transit of both passengers and
merchandise. I have ato doubt that the receipts of the
Newcastle and Darlington line, by having possession
of the Great North of England Railway, have been in-
creased in a large measure, and if we could arrange by any
means to bring the whole of the lines under one en-
tire management and control, I believe it would be a
vast advantage to the public on this side the island.—
(Cheers.) If any persons had any doubt as to the pro-
priety of an amalgamation between the York and New-
castle and the Newcastle and Berwick, I think they can
have no doubt now, after the bonus which the York and
Newcastle shareholders have received in the increase of

their capital. I think it is only fair to state, that if they
are united, the capital for the entire construction of the
main line and branches of the Newcastle and Berwick
Railway should be raised by the shareholders of that
company.—(Hear, hear.) I consider that they will be
entitled to the issue of the requisite additional stock
themselves; it is their right and proper property, and
therefore, if the amalgamation should take place, it will
do so under the reservation that the Newcastle and Ber-
wick shall complete their line and branches, and shall
be entitled to such new shares as will be requisite for
the completion of the works.—(Applause.) 1 have not
the least doubt—l firmly believe that the Berwick line
will be as productive as any part of our line. I have
seen the country, and I never felt more sanguine as to
the traffic to be derived. I have no doubt that, among
other things, we shall supply the whole district in with
coke; we shall do an immense trade in coal and coke.
In that opinion I am corroborated by my friend Mr.
Wood.

Mr. NICHOLAS WOOD, of Newcastle—l am quite sure
of it.

The CHAIRMAN—Then on the Newcastle and Berwick

line there is the best engine coal in the world, and the
whole.district abounds in minerals. The district is ono
also rich in agricultural produce, as the stock-yards abun-
dantly testify : it is pea( ctly delightful to 'behold them.
Tho great weight of this 'product,- is taken to Newcastle,
principally in carts. By this description of conroyanco
large quantities of produce are taken from as far as
Alnwiek to Newcastle, a distance of 35 Smiles. This
produce will come as a. matter of course on to the Ber-
wick Railway. There are ten or twelve coaches run-
ning between Newcastle and Berwick, and they aro full
of passengers every day. When at Alnwick I was in-
formed by a gentleman that a friend of his sat up one
night for three coaches, but every one of them was full,
and that has constantly been the case.—(Applauae.)
clearer
suggested,
Then, looking to the cost of this lino, the main line will
cost something like 17,0001. per mile ; but, including the
proposed branches, the cost will be under 15,600 L per
ymindthere
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