The Sun.
London, England, 1848-03-01 00:00:00

Cripps, W.

DaiiyMple, Captain
Davie, Sir H,
Deedes, W.
Denison, J. E.
Drummend, H.
Duncan, George
Dundas, Admiral
Dundas, Sir D.

Dundas, George
Edwards, Henry
Elliot, John E.

Evans, William
Fergus, John
Fordyce A. D.

Forsater, 'AI &thew

TO THE SECRETARY OF THE
BRADFORD REFORM ASSOCIATION.

SIR,—On Monday, the 28th, the Chancellor of the
Exchmquer abandoned his intention of increasing
the income-tax to 5 per cent. He further proposed
to take the expenses of the Kafir war out of the ba
lances lying in the Exchequer. It strikes me forcibly
that this last is not a diminution of the expenditure.
The further discussion was deferred till Friday.
On the same evening Mr. Hume asked Lord John
Russell whether it was the intention of Ministers to
interfere in any way in consequence of the changes in
the form of government in France ; and was answered
most distinctly in the negative, which was received
"vial ,cheers from all parts -of the House. Some of
the orators on the Opposi.ion side' attempted in the
course of the evening to draw the Prime Minister
into debateable ground; and intimated that Mr. Pitt
had made the same kind of declaration,—by way of
inferring that a good jolly war was possible after all.
But the result was only a repetition of the declara-
tion. A mischievous race, these orators I _ _

On Tuesday Lord Palmerston was asked by Mr.
Mon ckton Milnes whether he had any information on
the course intended to be pursued by the French
Government towards foreign Powers. And the
Minister replied, that he had this day assurances from.
the French Minister for Foreign Affairs, that it was
the intention of the French Government to maintain
all the existing relations with foreign Powers, unless
attacked.

Nearly six hours were afterwards spent in debate
upon a motion for a Select Committee on the work-
ing of the Irish Poor-law; which was finally ne-
gatived.
I am, Sir, your obedient servant,
T. PERRONET -THOMPSON.
Blackheath, London, March 1, 1848.

LONDONDERRY and COLERAINE

RAILWAY.

The half-yearly general rneeting of the shareholders
of this company was yesterday held at the offices of the
company, No. 5, Church-passage, Guildhall, for the
purpose of receiving a report and statement of accounts
from the directors, and for the transaction of the ordi-
nary business of the company. The meeting was also
made special for the purpose of considering the subject
of the forfeiture of certain shares held by defaulting
shareholders, and for taking into consideration the
draft of a Bill to be submitted to Parliament, autho-
rising a deviation in the line of railways as at present
authorised to be made.

...
The chair was taken at one o'clock by the Chairman
of the company, John Griffith Frith, Esq.
The minutes of the last meeting having been con-
firmed, the Secretary read the report, from which it
appeared—
"That this project originated in the belief that if the
railway could be taken along.the shores of Lough Foyle,
and within the Slob Lands, to be reclaimed from the sea,
the land so recovered would be of value sufficient, not
eta; .
Ln
eoe.
r,
kai t be a et t
oth moderate,
ncahkaer a c
an
character
od
only to pay for the works necessary for the reclamation,
but also for the railway itself.
" Contracts for the embankments necessary to -com-
plete the reclamation were entered into with Messrs.
Bromhead and Hemming, at prices advised by the
tv athen contractors
ework,
upon
rp ko ,
n t stipulatingphlea
nd
itr,
e cutpo
upon
nos
perfect the works by the first day of Januar), 1849.
were advised
condition of double that sum being expended by the
contractors for the same purpose.
" The works having thus been placed under contract,
w
but the directors regretted to be
o
state, that notwithstanding they had afforded
e facility the contractors, and made the reqtrred
eadvancetocommenced;upon
al
plant, the contract for the embankment
was not duly, or at all satisfactorily, carried on, and
the directors became convinced that the contractors were
unable to carry on the entire works simultaneously, and
had determined that all their energies should be di-
rectede
withto one
in of
b thei
dmei,aie h
rree proposed enclosures, leaving
the
even
until that was completed; but
tthe
ti
works did not make that pro-
gress ectore felt they had a right to expect;
others.
thiswhichthe
g l i
and the directors bad to report that they felt, under the
circumstances, that they had no alternative but to take
the contract for the reclamation out of the hands of
Messrs. Bromhead and Hemming.
" The present arrears of calls amounted to 64,0001.;
of this it was computed the sum of 50,0001. would be
paid, leaving 80,0001. to be provided for the completion
of the middle enclosure in two years.
" When the three enclosures shall have: been com-
pleted, the number of acres belonging to the company
acre,aby the pre
per
twenty
would be 10,200, being 2,000 acres less than originally
designed, the difference being caused by the Admiralty
having required the line of embankment to be set back
laudwise, within the line chosen by the engineers. But
tsaeknitupgiatnh, at
e i
cent, under the lowest estimate put before the Parlia-
mentary Committee, they would produce 510,0001:;
number ere sbe iasng
enough, in all reasonable probability, to t i
mt
the n is
valuehed
of iw.
per of
pay for the re-
clamation, and also to provide the capital necessarj.,
tor
the construction of the railway.
" Having regard to this statement, the directors
would submit that three plans suggest themselves for
consideration. First, to stop, and to keep the present
works from falling into decay. Second, to proceed at a
speed such as will serve to complete the Middle Enclo-
sure in two years. Third, to find the Weans necessary
to complete it in a shorter time.
" The first of these plas would 1
Plainly be disastrous,
and could only be justn
ified by the insolvency of the
company.
" The second promised a safe termination to the first
and most important part of the work, but protracted
much beyond the time anticipated, or necessary for its
completion.
" The third seemed to your directors the best way of
forwarding the interests of the company under the pre-
sent circumstances. It presented, however, the difficulty
of finding the sum within the time required. The diffi
culty did not appear to be insuperable, and might be met
by seeking part of the sum required in arrears of calls,
and the remainder either in a loan, or an issue of prefe-
rence shares."
Mr. Burrs stated that he bad lately paid a visit to
the works upon the line, and he regretted to see the
state in which they were. It appeared to him that the
present deplorable position of the company was owing
entirely to the management of the parties having the
control of the contracts and works. The sum of
200,0001. had been already expended, and they had
nothing whatever to show for it. A tunnel had been
made, but there was no communication with it, and
the whole of the works he could look upon in no other
light than that of " splendid ruins.
Mr. TYRELL, the solicitor to the line, said that al-
though the expenditure might at present appear useless,
it would nut ultimately prove so. The position of the