The Sun.
London, England, 1846-08-18 00:00:00

CREDITORS.

Capital stock, being 10/. on each of 13,000
shares
Interest on investments and calls 537 4 4
Transfer fees
Sundry persons for land and compensation... 9,722 5 0
Sundry persons for rails and chairs, ser-
vices, &c 6,819 19 4
Loans and interest

Total £182,413 3 2

Several formal resolutions having been put and carried
neon. con., the meeting was then made special, for the pur-
pose of considering the expediency of leasing or selling the
Richmond Railway to the London and South-Western Com-
pany, and if such lease or sale should be deemed expedient,
then fur the purpose of considering and determining upon the
terms and conditions of such lease or sale. _ _

The SECRETARY then read the terms of the agreement
provisionally entered into with the London and South-
Western Railway Company on the 20th of July, 1846, fir a
sale of this railway and all its works and appurtenances,
with all the lands, property, and other effects of this Com-
pany, and all its earnings from the time of the opening, and
including also a further call of 51. per share (making alto-
gether 151. per share paid on 13,000 shares) to the London
and South-Western Railway Company, in consideration
of 195,0001. stock of that company, or 3,900 shares of 501. each
fully paid up, to be placed in the bands of the directors of
this Company for di-tribution amongst the shareholders, ac-
cording to their respective interests. The London and South-
Western Railway Company taking up and providing for all
the obligations of this Company, and the said stock or shares
to be considered as the property of the Richmond Railway
Company, from the Ist of July, 1846, for all purposes except
dividend, which is not to accrue thereon, except from the Ist
of January, 1847, the London and South-Western Railway
Company admitting as an obligation of the Richmond Com-
pany, their liability to pay interest, at the rate of 41. per cent.
per annum, from the time of the Richmond calls, being the
paid-up capital to the Ist of July, 1846, and at the rate of
5/. per cent. per annum from the Ist of July, 1816, to the
Ist of January, 1847. Also an agreement made on the 15th
of August, 1846, by which the South-Western Railway
have consented to modify the terms originally proposed, for
the purchase of the Richmond Railway, as follows:-=that
all shareholders in the Richmond Railway Company shall be
allowed the option of either taking the stock of the London
and South-Western Railway Company, in exchange for their
shares, as set forth in the terms first proposed ; or the sum
of 91. as premium upon each share, in money.
The CHAIRMAN then proposed a resolution, "That in the
opinion of this meeting it is not expedient to sell the Rich-
mond Railway upon the terms proposed by the South-
Western Company."
Mr. A. PELLATT quite concurred in the terms of that re-
solution, and thought that valuable extensions of the line
might be made not only to Brentford and Hounslow, as
stated in the report, but also to Staines and Windsor.

Mr. TaTE wished to know of the directors what was their
reason for so strongly refusing the terms offered by the South-
Western Company ?
Mr. SALOMONS said that he was sorry to differ from his
brother directors on this subject; he thought the proposition
a very fair one, and that as men of business, and having first
opened the negotiation, he thought they were bound in ho-
nour to accede to the proposition. His friend Mr. Boothby
had, he believed, another proposition to make to the meeting,
which he hoped would receive the sanction of the meeting.
Mr. BOOTHBY then stated the terms of his proposition,
which were, that the South-Western Company should take
them into their Company at par, at 151. per share, and give
them their stock at par, at 451., which would be at the rate
of three shares in the Richmond Railway for one South-
Western, with the alternative of taking 101. premium, if the
parties chose to do so.

Mr. SALOMONS was quite prepared to sanction that pro-
position.
Mr. A. PELLATT said that he would oppose the resolution,
and moved, as an amendment, " That this meeting do not
consider that the time has arrived for the sale of the Rich-
mond Railway, and that the consideration of the question
be adjourned sine die."
A StiAitzmoLazit, whose name we could not learn, se-
conded the resolution.
After a few words from Mr. Wilson (the chairman) and
Mr. Salomons, the amendment of Mr. A. Pellat was with-
drawn.
The original resolution was also withdrawn, in the place of
which
The CHAIRMAN proposed, " That, in the opinion of this
meeting, it is not expedient to sell the Richmond Railway
upon the terms proposed, but, in rejecting the present offer,
are empowered to dispose of the Richmond Railway, upon
receiving one South-Western share for three Richmoud
shares upon which 15/. per share have been paid, or the
option of receiving 101. in money, as a premium upon each
share upon which 101. shall have been paid, provided these
conditions shall be accepted before the 15th of September."
Mr. D. W. I-LtavEv thought the proposed arrangement a
very favourable one, it would giv.e the shareholders in the
Richmond railway not only an interest in the success of their
own line, but also of those extensions of the South Western
Company to Waterloo and to London Bridge, and also in
those gigantic extensions to the West of England, to Salis-
bury, Exeter, Cornwall, and other places, and without at all
envying the receipts of either the Greenwich or Blackwall
Railway, he could not doubt but that all those lovers of the
country who had hitherto been used to exhibit
their shapes not always in the most attractive
forms upon the hills of Greenwich would be found quietly en-
joying themselves by the side ofafrtphreeferrivaebrleatot Richmond,
which ds,
which was a part of the country
lie hoped, therefore, that the resolution would be agreed to
unanimously.
The resolution
of thankswassolution w
thenas an proposedto th
puetandcarried unanie mous).l.
AChairman,
which was also agreed to.
The meeting then broke up.

RAILWAY COMMITTEES

(THIS DAY.)

HOUSE 01? LORDS.
•
Room A.
IVIANCHESTER AND SOUTHAMPTON.
(Continued from our Afternoon Edition.)
Sir W. Godon considered that a break of gauge was objec-
tionable, as delay would be occasioned in the transmission of
troops, who were almost invariably attended with heavy
baggage and women and children. A saving of 14 miles in
distance would act two ways—viz., the raving of time and
expense. If the conveyance of men was at the rate of Id.
per mile per man, ls. 21 would be saved on each man.
There were a number of troops stationed in the manufactur-
ing districts, which this line would be useful in conveying
backwards and forwards. He wished it to be distinctly un-
derstood that be did not come there to give evidence in
favour or against any line,but simply to answer the questions
their Lordships might think proper to put to him. In his
opinion the best railways were those which were direct.
Mr. Matthews, a farmer, between Cheltenham and Ciren-
cester, considered that the line would save to the owners of.
land within a radius of 7 miles of Cirencester,in the carrying
of their produce to Gloucester and Cheltenham, 10,000/. a
year.
Mr. Mildmay, M.P., of Southampton, had had frequent
communications with his constituents on the subject of the
proposed line, whose feeling appeared unanimously in favour
of it. He had presented petitions from the corporations and
other bodies of the town in favour of it. He advocated the
line on public grounds. .
Hy
jUr ' Talwror—Cousidered that the proposed and exist-