The Sun.
London, England, 1846-08-06 00:00:00

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SUN OFFICE, Seven o' Clock.

RAILWAY COMMITTEES.

(THIS DAY.)

I HOUSE OF LORDS.
Room C.
ZUDDERSFIEVD and MANCHESTER RAIL-
WAY and CANAL (OLDHAM BRANCH).
(Continued from our Afternoon Edition.)
Mr. Fielding, corn dealer,was examined, and stated that the greater
portion of the provisions of the town of Oldham were imported,
the land about that town being very sterile. The proposed railway
would, in his opinion, be very desirable to Oldham, in consequence of
the increase it would occasion in the import of kern, and at a
considerably cheaper cost than it was brought there at present.
The proposed line was shorter by sixteen miles to Wakefield than
the line of the Manchester and Leeds Railway, and Wakefield was
the chief corn-market. Great delay occurred at the station of the
latter railway at Leeds, owing to its over-crowded state. This de-
lay seriously affected the transit of corn.
Cross-examined by Mr. Taratur—The value of this branch was, in
his opinion, dependent on the main line being opened.
Several other witnesses were called in support of the Bill from the
neighbourhood of Oldham, and the Committee were of opinion that
they had heard sufficient evidence as to traffic, being of opinion that
the receipts of the line were proved, and that the only question for
the Committee to decide upon was, as to which company should be
permitted to construct it.
Mr. Gee, engineer of the line, was then called, and deposed that
the gradients and curves were favourable, the gradients being
1 in 100, and that the whole expense, according to
the estimate, was 158,000/. The time required for completing the
branch was two years. There was one tunnel on the line of 1,320
yards in length. The saving of distance by this line would be about
19 miles between Oldham and Leeds, and between Oldham and Hud-
dersfield 21 miles.
This closed the case for the Bill.

Mr. Hawkshaw was then called, and stated that he considered that
the Mumps line would meet all the requirements of the neighbour-
hood, and that the present branch was uncalled for.

Mr. Vignoles corroborated this testimony.
The Committee then adjourned.

EASTERN COUNTIES RAILWAY

(THIS DAT)

The usual half-yearly general meeting of the shareholders
in the Eastern Counties Railway Company was held this
afternoon, at the London Tavern, in Bishopsgate-street; Mr.
Geo. Hudson, M.P., Chairman of the Board of Directors, in
the chair.
The advertisement convening the meeting having been
read, the Secretary (C. P. Roney, Esq.) read the following
report of the directors ,
" The directors have the pleasure to announce a dividend,
for the half-year, of 9s. per share of 141. 16s. each on the
consolidated stock of the Eastern Counties Company, and
in proportion on the share capital of the Northern and East-
ern Company.
"The increase of traffic during the last half-year has been
86,7181. 7s. over the corresponding six months of 1845, and
28,462/. Os. 10d. in excess of the six months to 4th Ja-
nuary last, during five months of which the line to Brandon
was open.
" An increased charge for interest appears in the account
for the past half-year; and during the current half-year, it
will be further increased in consequence of the opening of the
Company's line from Ely to Peterborough, which will be de-
livered up for traffic by Mr. Peto, at the beginning of Sep-
tember, fourteen months earlier than he is bound to do by
his contract ; on the other hand, there may be anticipated
with certainty a large increase of traffic to arise from that
extension and from the opening of the Midland Company's
line (to be worked by the Eastern Counties Company) from
Peterborough to Stamford. The opening of this length will
also take place early in September.
" Before the next half-yearly meeting of the Company the
line of the Eastern Union Company from Ipswich to Stow-
market and Bury St. Edmunds will have been completed and
opened for traffic. It is likewise expected that the line of the
Lynn Company from Lynn to Ely will be in operation at no
distant period. The opening of these two lines cannot fail to
further increase the revenue of this Company.
"A double line is asout to be laid from the Broxbourne
Junction to Hertford.
" In Parliament the directors have used their utmost efforts
to obtain extensions of the line to Lincoln and York. In
these endeavours they have not at present succeeded. It is,
however, their intention, with their engineer, to examine de-
liberately the entire districts through which they have pro-
moted lines of railway during the past session, and to take
such steps, in the ensuing one, for the general interests of the
proprietors and the advantage of the public, as shall be
deemed advisable.
"The board purposes to proceed immediately with the con-
struction of the line between Cambridge and St. Ives, and
also with the line between St. Ives and Wisbeach, which
the directors have agreed to purchase from the St. Ives and
Wisbeach Company, subject to the sanction of the proprie-
tors, in preference to its being leased in perpetuity. The
sanction of the meeting will be required to this arrangement.
"Acts of Parliament have been obtained to enable the
directors to enlarge the London and Stratford stations; to
construct a railway from Ilford to Epping; and to connect
the Thames Junction Railway by a branch with the Pepper
Warehouses at the East India Docks. By authority of one
these Acts, the London station of this Company will in
future be called The Bishopsgate Station.' The increased
accommodation to be afforded by the enlargement of this
station has become a matter of urgent necessity for the pur-
pose of working efficiently the largely increasing traffic in
passengers and goods, and no time will be lost in urging
forward the necessary works to render it one of the most
commodious in the metropolis.
"The directors have arranged to alter the former contracts
regarding the Thames Junction and North Woolwich Rail-
ways, and to purchase the former at a net profit, to the pro-
prietors of that Company, of 7,0001., and to purchase the
'Atter at 3,0001., being the sum expended in obtaining the
Act of Parliament. They recommend these purchases to be
confirmed by the meeting. The Thames Junction Railway
has been opened partially for coal traffic for some weeks, and
promises to become a most important accessory to the Cam-
bridge and Colchester lines. The North Woolwich Railway
is in course of construction, and it is anticipated the open-
ing for passenger traffic will be early in October of this year.
"The total amount of capital authorised to be raised
under the Acts of Parliament obtained during the last and
the present session, including the capitals of the Thames
Junction and North Woolwich Railway Companies, is
2,507,000/.
" Of this capital, there will be required for the Railway
between Cambridge, St. Ives, and Wisbeach, a length of
forty-two miles, a sum of about 625,000!., which will have to
he provided rateably by the holders of the York Extension
shares.

"As regards Extension Stock, No. 2, which will absorb
960,0001. more of this capital, resolutions will be submitted
to the meeting to place that stock in a permanent position, as
portion of the share capital of the Company, carrying a fixed
rate of interest in perpetuity."
The CHAIRMAN, in moving the adoption of the report, and
that the accounts be agreed to, said he was ready to admit
that the accounts were not placed so fairly before the meet-
ing as he could wish, but he pledged himself that at their
next half-yearly meeting this defect should be remedied. It
was satisfactory that the directors were able to pay the
same dividend this half-year that they did last, notwith-
standing that some of the charges of the past half-year had
exceded those of any former period. He estimated the re-
ceipts of the next half-year at 10,0001. per week or 286,0001.
per annum, while, allowing for expenditure 100,000/. for work-
ing, and 44,0001. for interest, there would remain a balance,
which would give a divident of 84 per cent. upon a capital
of 2,110,000 of Eastern Counties stock, and 1,180,0001. of
Northern and Eastern stock.—(Hear, hear.) It was pro-
posed to give the olders of the old 141. 16s. shares a bonus of
4/. per share ; there would consequently be a call shortly
upon these shares of 1/. 4s. to make up. They had not been so
successful in their application to Parliament for extensions as
they bad anticipated, but there was this justifying fact to
place to the credit of that result, namely, that Parliament had
sanctioned no competing schemes likely to injure the traffic of
the Eastern Counties line. They had been defeated in
their energetic efforts to get to York, but he confidently ex-
pected, nevertheless, that ere long their line would be ex-
tended to the north in such a manner is to draw a large
quantity of northern traffic on to the Eastern Counties.—
( Hear, hear.) It would be seen that the York Extension
shares would have to contribute the capital for making the
Cambridge, St. Ives, and Wisbeach line, and he was assured
by those who were best informed upen the subject, that this
line would be open for traffic in about twelve months.—
(Hear, hear.) After complaining of the conduct of Colonel
Peel in dividing the House upon the third reading of this
Bill in his (the Chairman's) absence, having previously,
while he was present, declined to do so—remarking that he
bad just as much right, or could with as much justice say,
the gallant Colonel was the worst Member of Parliament, as
the gallant Colonel had to say the Eastern Counties line
was the worst managed in the country. The Chairman
went on to comment upon the readiness of the Times
to iasert letters in its columns denouncing the
delays occasioned on this line. He said he had travelled
latterly in and out of the metropolis as much as any one. He
had repeatedly met with delaps on lines which he did not
think it necessary to name, but, strange to say, no one took
the trouble to write to the Times complaining of them. Last
Saturday one train he came by was half an hour behind its
time, and he could mention innumerable instances where
these delays had lately occurred.—(Hear, hear.) Now what
were the delays the letters in the Times complained of ?
Why, during the last three months they had, exclusive of
Sundays, run 4,448 trains, running a distance of 27,464 miles,
and yet the delay on the average had only been three-quar-
ters of a minute per train.—(Hear, hear.) He admitted that
delays more or less did occasionally occur, but with the casu-
alties which were attendant upon the running a railway
train, it was utterly impossible to avoid them.—(Hear, hear.)
So largely did they estimate the future traffic, that they had
ordered 400 new carriages. They were going to centralise
their locomotive department, and it would be seen by the re-
port that they had already obtained powers for increasing
their metropolitan station-room. When they obtained
this room, he would defy any one to say there would be
the remotest necessity for gentlemen writing letters to the
Times.--(Hear, hear, and laughter.) The line, considering
the difficulties it had to contend against—the want of station
room and inconvenient position of its locomotive and car-
riage department—was, he would repeat, as well managed
as any line in the country, he thought the meeting would
o
appreciate the animus
neart,hela Times in publishing its
anonymous attacks.—(gear, hear.) He concluded by
moving the adoption of the accountsear and report, and ex-
pressing his readiness to answer
prietors might wish to put to him.—(Lit'lruehations the pro-
,syvas the
A PROPRIETOR wished to know what'theeVn
directors proposed to bring forweled from Lincolnitoe
The CHAIRMAN must decline answering that question. ?He
bad once or twice disclosed some of his schemes, an,d_etahre
consequence was they were filched from him.—(Hear,
hear.) A deposit of 10s. per share had been paid upon the
York shares, and if the Honourable Proprietor objected to
the line he could have his 10s. back again.
A PROPRIETOR asked when it was proposed to call the
11. 4s. upon the old shares, which the chairman had said it
was proposed to make, for the purpose of making the 14/. 16s.
shares
the holders a bonus of 41.
T
that he was not in a position to
h CHAIRMAN 4% 90/. shares, giving 1
0
answer that question: '",
The same PROPRIETOR asked, whether the dividend of
81. per cent., to be paid next Christmas, would be paid at the
rate of 141. 16s. per share or 20/. per share?
The CitmamAN said it would be paid on the 14/. Ns.
The resolution was then put and carried unanimously.
The diaend was then declared payable the 13th of
August, nail day week.
A resolution in accordance with the last paragraph in the ,
.• report was then moved from the chair and carried unani-
mously.
The CHAIRMAN next proposed a resolution approving the
purchase of the St Ives and and Wisbeath, Eastern Counties
and Thames Junction, and the North Woolwich lines.
It 'Was unanimously agreed to.
The thanks of the meeting was then passed to the Chair-
man an,' Directors.
Thq)Cri.,‘AN,
in acknowledging the'compliment, made
a few bbserv,:tiOns on the subject of the recent accident. He
that they had been so much upbraided and
regretted deeply'
held up to the de. of the
because that lames.at(ible Fair placed them in a position en-