The Sun.
London, England, 1846-01-13 00:00:00

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13, 1346,

PRICE SD.

RAILWAY INTELLIGENCE.

EST-END AND SOUTHERN COUNTIES.

f Yesterday afternoon a meeting of the subscribers to
this line was held at the Company's offices, Chatham-
place, Blackfriars, Mr. Carter in the chair.
Before the business of the meeting was entered upon,
some discussion took place as to whether the scrip-
holders who had not signed the agreement should be ad-
mitted to take a part in the proceedings ; and, after
much debating, pro and con, it was determined that no
gentlemen should be admitted to the meeting but those
who had signed the deed.
Mr. PAYNE, the engineer to the Company, then pro-
ceeded to enter into a statement as to the intention of
the Company to carry their line to Waterloo-bridge, and
the advantages that a terminus in the Strand would
afford.

Several shareholders expressed themselves desirous of
hearing from the Committee what was the original object
in view when the line was formed.

Messrs. PAYNE and PENRY both said that the prin-
cipal object of the railway was to form an amalgamation
with any line of railway south of the Thames, and to
form a connecting line from them to the western part of
tho metrs)polis, so as to have themselves the benefit of
the short traffic, and to give to the line with whom they
joined the long traffic, as very considerable disappro-
bation had been expressed with regard to the principle
of having short traffic on long lines.
Mr. SMITH said that these statements were not the
business for which they had met. They wished to know
the state of the Company in a financial point of view.
Mr. TAYLOR then inquired what proportion of the
shares had been paid upon ?
The CHAIRMAN said about one-half.
Mr. Smrm wished to know whether the Chairman
had no statement of accounts to make to them.
The CHAIRMAN said that there were certain reasons
why the report that had been prepared should not be
read that day. The circumstances were such, that the
laying any statement before them would be imprudent.
Mr. FORREST said that it was very strange that they
should be called to receive a report of the state of affairs
of the Company, and when they did come they were to
hear nothing at all.
The CHAIRMAN said that the report had been pre-
pared, but certain reasons were in existence why it
should not be read. It would be ready in a week or
two. The Committee had all subscribed, and were all
in the same boat with the shareholders.

Mr. FORREST—Have you done anything at all ?
The CHAIRMAN said that there was a negotiation with
another line then in progress.
Mr. TAYLOR said that the shareholders ought to have
been desired not to come, by the insertion of an adver-
tisement, if nothing could be done.
Mr. H. ARROWSMITH (one of the Committee) said
that the board appeared before the shareholders with
much pleasure, as all was to be fairly transacted. There
were certain clauses in their deed, and the question was,
whether those clauses should be acted upon this session.
Mr. KEmr said that there were gentlemen in the room
who would make their proceedings public, and he wished
that those gentlemen should not leave without taking
with them some explanation of what had occurred. The
only explanation that had yet been given was, that the
Company had been formed with the view of amalgama-
tion with other lines, and a portion of their shares had
been reserved as an inducement, so that they were
formed with the view of giving to other persons the
fruits of their money and labour. The gentleman who
offered this explanation certainly intended to give it as a
reason that the Company was formed for the purpose of
giving a direct line of traffic from the Greenwich Railway
to the West-end, but to do that it would be necessary to
get the consent of several other companies. They had
met that day expecting a statement of affairs, and
nothing had been said except that it was their intention
to amalgamate with another good company, so as to
benefit themselves, and unless such a thing could be ac-
complished, it would be of no use to go on at all. Ile
did not wish to tamper with the proceedings of the Com-
I puny, but he certainly thought that an adjournment,
until some more tangible information could be obtained,
was necessary, as it would be unwise to spend any more
money until such information was given.
Mr. ARROWSMITH said that, in his opinion, no blame
could be attached to any of the officers of the line, as
they had amply proved their capacities on a previous
line of railway.
Mr. Kumr wished to put a motion—" That this meet-
ing do adjourn."
Mr. PENRY said that it was only half an hour before
the meeting was to have taken place that a communica-
tion was received which rendered it necessary that no
report should be read. The solicitor had been consulted,
and his advice was, that no report should be read, but
that the meeting should take place, as the closing of
their doors on such an occasion would have a very bad
appearance.
The assistant to the solicitor to the line expressed
his concurrence to this statement.

After some further discwsion, Mr. Kemp's motion was
adopted, and the meeting was postponed until that day
week.

After a vote of thanks to the Chairman, the meeting
sopard.ted.