The Sun.
London, England, 1846-04-25 00:00:00

BOSTON, NEWARK, and SHEFFIELD
RAILWAYS.
Tho Holders of Scrip in this Railway are respectfully reminded
that THURSDAY NEXT, the 30th instant, is the last day on which
attendance will be given in town for receiving the Scrip and return-
ing the sum of 20s. per share, in terms of the resolution of the
Directors as advertised.
Forms of application may be had from the Secretary.
JOHN DENNISTON, Secretary.
1, Little George-street, Westminster,
April 25, 1846.

RAILWAY BILLS.
The Bill introduced by Lord Dalhousie completes the Go-
vernment measures, which is partially set forth in the reso-
lutions of both Houses, and gains additional stringency by
the subsidiary resolutions of Mr. T. Duncombe. The Go-
vernment " resolutions," as proposed by Sir R. Peel and Lord
Dalhousie, merely define the conditions to be observed before
either House will proceed with the consideration of a railway
project, while the Bill now brought into the House of Lords
enables the shareholders to wind up their affairs, giving thorn
a power hitherto possessed by corporate bodies alone. TO
this distinction we called attention the other day, but we
refer to it again, as it has been no uncommon mistake in the
City to confound the two parts of the measure, that is, the
ies slsbyce as rfio
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the opportunity of correcting an erroneous impression (pro-
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duced by a verbal error) as to the qualifications required in h
March, and it is not necessary to comply with both these con-
ditions.
I n uopinion
windingf
cited in the new Bill and in the " resolutions,"
exc ng that in stopping a Bill in its progress through the
Legislature the mere silence of the scripholders will be suffi-
cient, whereas to dissolve a company, an especial meeting
must be called. In both cases, where an appeal is expressed,
whether in the negative (as required by the Bill) or in the
affirmative (as required by the resolutions), a third of the
stock represented at a meeting will constitute a quorum, and
a majority of three-fifths of the stock so represented will be
required.
While the prospect of recovering part of the deposits is
thus opened to a number of persons who have heedlessly em-
barked in schemes from which they now expect no remune-
ration, it is natural enough that an anxiety to get as much as
possible out of the wreck should be expressed. Thus, we
have heard a suggestion that the bills of solicitors, engi-
neers, and other parties employed in railways should be
taxed, on the winding-up of a company, just as costs are
taxed in the cases of bankruptcy.
The relief which is felt by the removal of a large impend-
ing weight from the money market seems to be felt even at
this early stage of proceedings. The discount houses have
already, in some degree, relaxed their rate of interest, and
money may be considered a degree easier. To form some
notion of the effect which the mass of new schemes would
have produced on the circulation of the country, it may be
observed that the unpaid calls on the railways that have
already obtained their Acts of Parliament (including some old
lines) approach in amount to the enormous sum of
50,000,0001. When all these calls will be made—or whether
they will ever be made—is, of course, uncertain ; but, at all
events, the figure exists as the representative of a huge
quantity of liability, which certainly would not bear a large
increase.
As many persons have expressed curiosity as to the profits
of the Accountant-General on the investment of the railway
money, a statement officially made in the Parliamentary re-
turn referred to yesterday may be found interesting. That
portion of the money paid into the hands of the Accountant-
General during last session, which was afterwards invested,
was 56,2001. The whole amount charged as commission on
the purchase of securities was 459/. lls. 5d., of which
275/. 4s. 10d. was received by the Accountant-General, and
the rest by his broker. It need hardly be said that much
larger operations have taken place since this period—namely,
during the months of January and February in the present
year.— Times.
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