The Sun.
London, England, 1846-09-10 00:00:00

THE SUN, LONDON, THVRSDA V EVENING, SEPTEMBER 10, 1846

better man than either of them. Should the mmi-
nation be in the hands of the 'Whigs, the appoint-
ment • will, of course, be jobbed—bestowed on some
personal friend, irrespective of qualification.
The appointment of Sir David Pollock, as Chief
Justice of Bombay, is generally approved of. He is
a man of good standing and experience, and Sir John
Hobhouse was not very happy in his selections for
the bench.

Our intelligence from the Punjaub is less satisfac-
tory at present than it has been at the date of any
dispatch since the occupation of Lahore. The Go-
vernment of the Maharaja seems to have no hold
upon the affections of the peeple. The Wuzeer com-
bines in his character the vices of a despot, a de-
bauchee, and a parvenue; he has unruly subjects
enough to deal with, but his measures are somewhat
rough even for a Seikh governor. The 'hanging of
the Brahmin, on the occasion of the street riot some
months back, was at first favourably regarded from
the boldness and determination he exhibited. Sub-
sequent executions, where the criminal was first
tortured and then roasted on a slow fire, seems
to have made it to be regarded as the first of a
series of outrages upon the customs of the coun••
try. He appears very anxious that our troops
should remain in the capital beyond the period
contemplated in the treaty ; and I suspect we shall
find no alternative, but either to maintain them or
permit anarchy to resume sway in the country. It
is true, we have extinguished the military power; so
that, had the Government possessed any energy or
strength, it might have maintained its authority, we
having relieved it of the most formidable source of its
difficulties. But unhappily the treasury is exhausted,
and the soldiers who have been disbanded have not
had their arrears paid up. The spirit of turbulence
and insubordination is rife from Ferozepore to
Attock, and the quietude now existing is mainly due
to the presence of the English army. The Governor
General was most fortunate in selecting Sir John
Littler for the Lahore command. The troops, not-
withstanding their privations, have been as cheerful
and contented in their exile as if quartered in the
most favourite cantonment in India; while not one
single instance of misunderstanding or collision be-
tANixt them and the citizens has occurred. The Chief
of Mooltan seems disposed to throw off the mask, and
set up for himself as independe'nt sovereign. To
him belongs one of the finest provinces in
the Punjaub. Ghoolab Singh has been quar-
relling with his relatives, and experiencing
apparently in his new sovereignty, " how uneasy
rests the head that wears a crown." The forbear-
ance and perfect faithfulness to his engagements
which the Governor-General has exhibited through-
out, seems, amongst the Seikhs themselves, matter
of loud and universal eulogy. Rumours from time
to time rife of a descent of the Affghans, under
Akbar Khan, through the Kyber Pass, the grand
object of twelve years having been the recovery of
Peshawur wrested from them by Runjeet Singh.
Though the rumour is general, I greatly question
its accuracy; restless, ambitious, and vindictive as
the Sirdar is, and anxious, doubtless, to achieve con-
quest and obtain martial renown on the battle-field,
where, in early youth, he so greatly distinguished
himself, the prudence of the old Ameer must keep
him in check. Since his restoration to the throne
Dost Mahomed has manifested the utmost anxiety
to continue on decent, if not on friendly, terms
with us ; he knows how heavy and how far inclining
are our arms, and can readily understand how light
a matter it would be for us to push forward a divi-
sion from the Jullundur Doab to attack a Jum-
rood, and make mincemeat of the best of his
armies. The Governor-General and Commander-
in-Chief continue at Simla, and it is said that
the other members of Council are about to join
them, as their stay in these parts is likely
to be a protracted one. Meantime a large
magazine—mainly of artillery stores, is being col-
lected at Phulloor, and the troops are being kept well
in hand, in case of accidents, so that we shall not
again be taken by surprise. The public will look
forward with much interest to the events of the next
cold season. _ _ _

—.—______
Sinde continues tolerably quiet, but much sickness,
of a very malignant type seems to exist all over the
country. Cholera has quitted the army at Kurrachee,
but lingers among the population of the town. I have
not, as yet, received any very accurate returns of the
total number of deaths among the troops : that for-
merly quoted from the Gentleman's Gazette is,
I suspect, considerably beyond the mark; while
the loss among the townspeople seems to have
been underrated. I believe I am pretty safe in
saying that betwixt the 14th and 30th of June
ten thousand human beings were cut off by
cholera at Kurrachee. It has since then been
fleeting up the river, and is at present making
fearful havoc in the city of Hyderabad. Our troops
appear, hitherto, to have escaped. Fever of ama
lignant type has for some time back prevailed at
Sukkur, her Majesty's 17th having been the chief
sufferers. They are at present on their way down to
Kurrachee, and great apprehensions are entertained
of the consequences should they chance to meet cho-
lera on their way. The men are so sickly and broken
down, that they are predisposed for the attack of any
malady. It is said they will return to India, and
thence probably proceed to the Cape. Her Majesty's
86th will, in all likelihood, be sent immediately out
of Sinde, being the ninth regiment, which has
within three years been rendered unfit for service by
the climate of the Indus. The European part of these
are.her Majesty's 17th, 28th, 78th, and 86th, the Bom-
bay 2d European Regiment and Horse Artillery,
the rest being Sepoys., Between 3,0001. and 4,0001.
sterling has been subscribed for the re-purchase of
the ornaments and attire of the Sinde Princesses now
for sale amongst the prize booty at Bombay.

(From the Times.)

We have received letters and papers from Bombay
to the sth of August. They came to Suez by an ex-
traordinary occasion, in consequence of Sir George
Arthur's having resigned the Government of that
Presidency. 111-health has been the cause of his re-
tirement. From the 6th of May he was net able to
transact business with the various members of the
Government. Finding that the chances of his reco-
very, during his stay in India, were but slight, he at
length resolved to resign his place. The Hon. Lestock
Robert Reid, the senior civil servant in the Council
of that Presidency, succeeds as acting Governor, ac-
cording to the provisions of the Company's charter.
The powerful steamer- Akbar was ordered to bring
the ex-Governor to Egypt. His debility on embark-
ing at Bombay was such that he refused all sorts of
military honours.
The chief political news is, that the spirit of dis-
satisfaction with the Government at Lahore, of the
Queen-Mother, and of Wuzer Lall Singh, threatens
to explode in acts of violence. The notorious fanatics,
called the Akhalees, were collecting in the neigh-
bourhood of that capital, and fears were entertained
of their commencing a bloody struggle. The months
of September and October have been often a signal
for butcheries amongst the Seikhs. Ghoolab Singh
is surrounded with difficulties in his new kingdom.
'Some of his own relatives are clamorous for payment
of his brother's legacies to them. The Chief of
Mooltan was not disposed to yield obedience to the
Government of Lahore, and a contest was expected
in the southern part of the Punjaub, in which the
British will be compelled to interfere. The army
from Sinde is the nearest to Mooltan.
From Sinde we learn that cholera had ceased to
ravage Kurrachee and Hyderabad, in both
of which places it had spread devastation. Sir
Charles Napier, who has gained golden opinions by
his kindness to the sufferers, had ordered the old walls
of Kurrachee to be demolished and the town to be
improved. His nephew and secretary Captain John
N apier, of her Majesty's 62d regiment, has fallen a
victim to the relentless malady; he is much re-
gretted. The only officer who died at llyderabad
was Lieutenant A. D. Campbell, of the 17th Regi-

ment Native Infantry. Fever had abated at Sukkur.
Her Majesty's 17th Regiment, which had suffered
much there, were stated to be about to come to the
coast, in order to embark either for the Cape of Good
Hope or for England.
The Governor-General and the Commander-in-
Chief remained at Simla, where they were about to
be joined by some of the most experienced officers of
the north-western province, in order to arrange defi-
nitively their plans for next fair season.
The whole of the western part of India from the
rtinjitub to Ceylon appears to have been blest this

year with abundant rain. The newly acquired pro-
vinces known as the Jullundur Doab has had an ex-
traordinary fall, which must contribute to its fertility.
At Phulloor a large magazine has been formed, which
is already filled with military stores. The Seikhs are
enlisting into the British regiments; they are a fine
rice of men.

The country of the Deccan, which iisubject to the
rule of the Nizam, continues to feel the results of a
most wretched system. His treasury is exhausted,
and hi 3 troops are dissatisfied. The British Resident,
general Fraser, however distinguished for his abilities,
cannot devise a plan for the amelioration of that state.
The Calcutta journals describe a most extraordi-
nary act of plunder in that capital. Sixteen men,
well armed, entered a goldsmith and tanker's shop,
wounded several people, and then retired with their
spoils. The police of that city has not discovered
the perpetrators. It is openly stated that the shop-
keepers there pay "Black Mail" to escape from
being attacked. This is an astonishing admission in
the British capital of India. _ _

The city of Poonah was not so healthy this year as
usual ; fever of a typhoid character prevailed. The
•Commar.der-in-Chief, Sir T. McMahon, had re-
covered from an attack of it.

The old India Navy Mutiny Act must be revised.
A court-martial was assembled on board the Hast-
ings in Bombay harbour, when it was discovered
that some irregularity existed, and a reference was
made to the Supreme Government on the subject.
The Oriental Bank was originally established in
Bombay, where the shareholders are now dissatisfied
with the expense and 'conduct of their London
directors, and they have, therefore, resolved to put a
full stop to the London direction. A notice to that
effect has come by this mail, with which, if a ready
compliance be not agreed to, a person with
sufficient powers will be speedily sent from
Bombay to carry the wishes of the shareholders
into effect.

A new crime has been found out in Bombay : a
gang of haidened ruffians poisoned'a number of buffa-
loes, then brought the carcases, which they sold to the
butchers in the public market, to be disposed of as
meat at the hottest season of the year. They are to
be tried at the next criminal sessions.

Newg from the Mauritius to the 11 th of July has
been received by this opportunity. One of the most
remarkable circumstances mentioned is the expulsion
by Sir W. Gomrn, the Governor of that island, of a
Roman Cath9lic priest, who, by his skill as a surgeon,
performed the Ccesarian operation on the body of a
dead woman, and saved her child, which survived 24
hours. The newspapers of that colony are loud in
their denunciations of this sentence. The affair has
produced a sensation in the Mauritius.
Amongst the recent deaths in India, that of Meer
Sohdar, an ex-Ameer, must be mentioned. He had
passed almost the last 30 years of his life in bed, as a
cripple. The old intrigues respecting Sinde are still
at work, and every means are used to mislead the
British people in this matter.

COMMERCIAL INTELLIGENCE.
CALCUTTA MONEY MARKET.
Bengal .Hurkaru Office, July 18.
The money market continues to exhibit a more
healthy appearance, and the rates of interest in the
Bazaar have fallen. As soon as the prompt of the last
opium sale is provided for, we may expect a quiet state
of things, if the advices from home are favourable.
Government Securities of all descriptions are rising
rapidly in value.
Exchange is less brisk. We havenotheard of first-rate
paper going off better than 2s. 2d. at ten months' date.
Bank Stock looking upwards.
GOVERNMENT SECURITIES.
Transfer Stock Paper 5 per cent. premium 10 0 a 11 0
Bombay 5 per cent....... 0 8 a par.
Old Sicca 5 ditto according to numbers 1 0 a 1 8
New Company's 5 per cent 4 0 a 4 8
Third 4 ditto discount 6 8 a 7 8
Now Co.'s 4 ditto 99 5 0 a 5 8
BANK SHARES.
Bengal Bank ... Co.'s Rs. (4,000) prem. 2,675 a 2,700
Union Bank ... (1,000) ~ 175 a 180
Agra Bank ... ' (500) „ 260 a 270
Oriental Bank ... „ (1,000) „ 150 a 170
North-Western Bank „ (500) „ 100 a 130
PRICES OF BULLION, &c.
Sycee Silver, Co.'s rs. 101 12 0 a 105 0 0 per 100 sa. wt.
China Gold Bars ... 15 8 0 a 16 8 0 per sa. wt.
Gold Dust ... ... 15 8 0 a 16 8 0 per sa. wt.
Spanish Dollars ... 221 10 0 a 221 12 0 per 100
Mexican ditto ... 221 ,0 0 a 221 4 0 per 100
Sovereigns ... 11 3 0 a 11 , 4 ot,
each
Madras Gold Mohurs 16 4 0 a 16 8 0
THE BOMBAY MARKET.
(From the Chamber of Commerce Overland Price Current.)
BOMBAY, AUG. 5, 1846.—We avail ourselves of the de.
parture of the steamer Akbar to issue a short circular
on the state of the market since our last dispatch; but
as the commercial season is only now on the point of re-
opening, there is little of importance to communicate.
The monsoon has been most favourable—the fall of rain
having already exceeded the total annual average, and
the accounts received from the major part of the agricul-
tural districts continue satisfactory.
Metals—We have few changes to notice in the prices
of any denomination of these. We quote tile copper
about a rupee lower than before, and noiles are quite
nominal. In iron but little alteration has taken place in
the value of any variety. We are informed of a sale of
Is 4 tons of flat bars at rs. 30 per candy; and another of
1,000 bundles of hoop, at rs. 6.10.0 per cwt., is likewise
said to have taken place. Pig lead has slightly ad-
vanced in price, and quicksilver has declined to the ex-
tent of about rs. 5 per maund. Sales of 300 tubs of
Swedish steel at rs. 10, and 200 cases of the same at rs.
11 per cwt., have been reported in the papers.
COTTON MANUFACTURES.—The market for these has
been, till now, almost entirely closed, and we have, con-
sequently, but few transactions to record. The only
sales, indeed, communicated to us, are the following:—
Per piece.
250 pieces gTey longcloths 38 yds. by 45 in. at Rs. 6 4 0
100 ditto 38 yds. by 39 in. at 5 4 0
150 do. grey domes. 60 yds. by 26 in. at 6 6 0
It is expected that the favourable character of the
monsoon will lead, ere long, to a renewal of business
transactions on an extensive scale—unless counteracted
by a renewal of the scarcity of money.
Yarns—Prices' remain without much change, and no
transactions have been reported for publication, though
we understand that sales to the extent of about 6,0001b5.
of Water, at 71 annas for No. 20, and 8i annas for No.
30, have had effect since our last.
Marine Stores—Paints have given way in price about
rs. 2 to 4 per cwt., and Cordage about rs. -4, whilst in
Coal Tar an improvement of rs. 2 per barrel has taken
place. We hear of no transactions.
Beer—The dealers havirg supplied themselves prior to
the issue of our last Price Current, sales have been sub-
sequently very limited, and we have only heard of one of
about 50 hhds. of Allsopp's at rs. 60 per hhd.
Spirits are unchanged in value. We hear of a sale of
20 hhds. of brandy at rs. 3 1 0 per gallon.
Cochineal has slightly declined; we quote the article
nominal at 3rs. per lb.
EASTERN PRODUCE.
Cotton—The transactions in this staple have not been
extensive, and there is but little alteration in prices to
record. We quote Broach and Surat at 80rs. to 82irt:,
per candy, which is about qrs. lower than last month.
Other sorts are without change. The quality of the
cotton now at market is inferior.
In other articles of Eastern produce we hear of no
variation in price, save Cassia, which is 4 rs. per lb.
dearer, nor are there any purchases of importance to
notiee.
Freights—Freights have latterly sustained a further
decline, owing to the heavy arrivals of tonnage.
Money Market—Government paper may be quoted as

Five per Cent. Loan of 1825-26
Four ditto ditto 1832-33
Four ditto ditto 1835-36
Five ditto ditto 1841-42
Four ditto ditto 1842-43
Exchange—The money market having become easier,
exchange on England has given way., Since our last
bills have been sold at 2s. id. downwards, and the rate
of transactions for this date may be quoted at ls. 1 lid.
to 2s. per rupee, at six months' sight. On Calcutta, at,
60 days the rate is at par ; on Madras at 30 days, 991
rupees ; and on China at 60 days, 206 rupees to 208
per 100$.
Banks—We quote Bank of Bombay Shares at rs. 410
premium, and those of the Orientalßank at rs. 155 to 175
pr( rnium per share.
Price of Bullion—Sovereigns, rs. 114 ; Bank of Eng-
land notes, per rs. 11.

THE MILITIA.—The annexed communication,
which was issued from the War-office last evening, Sep-
tember 9th, will put at rest, at all events for the present,
any further speculation and excitement regarding the
embodying of the militia. What the intention of the
present Government may be with regard to the future
it is impossible to say, but the fact that nothing can
occur until the next meeting of Parliament should be
generally known. The letter, dated September 9, and
signed by Mr. Fox Maule, Secretary-at-War, pro-
ceeds:—" With reference to the circular communications
from the War-office, dated 23d of May and 27th of June
last, on the subject of re-organising the staff of the
regiment of militia, under your command, I have the
honour to acquaint you that it is not intended at present
to take any further measures for revising the laws re-
lating to the militia, nor for assembling that force for
training and exercise. I have therefore to request, that
in all cases where any sergeant belonging to the corps
under your command shall have been admitted to the
out-pension, list, you will be pleased to suspend the
filling up of the vacancy, and also any vacancies whicl
might have existed from other causes on the reduced
establishment of the staff, until the course to be taken
by her Majesty's Government in reference to the militia
shall have been further considered."
FLEET-STREET.—Yesterday the paving of this
thoroughfare reached opposite St. Bride's Church. Tbe
street, it is said, will be opened throughout on Friday-
or WtadoY•

LITERATURE.

ON TIIE LIFE ASSURANCE OFFICES—
their National and Social Advantages—their Principles
• and Practice. By Gco'ge J. Soper.
The life offices have long needed such a familiar
and useful little work as the pamphlet before us. It
is the right key to the mysteries of the actuary, and
premising-that it also furnishes a list of all the life
offices existing at the commencement, of the year,
with their tabular charges and divisions, we cannot
do better than extract the following epitome of its
contents fr3m the " Introduction."
" We have endeavoured to show that the field for life
assurance has been much enlarged of late; that it will
continue to enlarge with the multiplication of the middle
or enterprising classes, the progressive advance of the
industrious mechanics, and; he division of property
among the aristocratical orders; that there are no
grounds for apprehending, under any possible circum-
stances, a crash amongst the life offices, as amongst the
railroads, or other speculative undertakings, for the busi-
ness investments of such life offices do not partake of a
speculative' character—even a panic in the money
world, which brings destruction upon other interests,
must benefit the life offices, by raising the value of
money, which is their only ' stock in trade. That
character, or moral standing in the directors
and officers is the chief reliance, as the re-
sponsibilities are mainly dependent on the careful and
honourable application of the money received as pre-
miums, and other investments, not merely in the amount
of the subscribed or pledged capital, for such capital
must be considered only as a collateral security against
possible, not probable contingencies—all such probabili-
ties are, in fact, calculated and included in the charge
for premiums, end the deposits for annuities, &c. That
the true life-risk being familiarly known by the pub-
lished experiences of the old offices, no imposition in
that respect could be attempted without immediate ex-
posure. And in the event of life offices failing to get
business, and resolving, in consequence, to close their
establishments, the holders of policies therein run little
risk, for under such circumstances the office liabilities
would, of course, be comparatively small in amount, and
the pledged capital, with the paid-up premiums, would
be ample security. Even in the worst case, the failure
of a mutual assurance company, whose only property is
the subscribed premiums, there could be no considerable
loss, except through the possible dishonour and dis-
honesty of the directors and officers, to guard against
which every caution and circumspection previously to
embarking in any life office is strongly recommended.
That mere class associations or particular business
or professional offices, are a ,departure from the
principle on which the mortality tables are founded.
as these tables are calculated by the common law of
mortality, and the life risk is known to vary in different
classes and occupations—that, therefore, the acknow-
ledged class, or professional offices, must be considered,
to a certain extent, as experimental. That it would be
wise and prudent for life offices never to raise a question
of doubt or difficulty in the case of claims from prema-
ture death, unless justified on the strongest grounds, for
as such chances are an actually recognised risk, and the
onus of detecting imposition fairly rests with the office,
a failure to establish a fraud would be highly injurious.
That nevertheless, as such frauds are often attempted
to be practised, and as successful imposition wrongs the
honest insurer by affecting his proportion of the profits
or participations, if not his real security, every indivi-
dual concerned in such office is decidedly interested to
detect imposition, and to see it exposed and punished
when detected. The proprietary, the mutual, and mixed
offices are defined, and their relative bearings explained.
Accumulative, or deposit assurance, is considered in its
practical application, and we conclude with a glance at
Or progress and peculiarities of the existing offices."

GILBERTS ENGLISH DICTIONARY.
No. IX.

This extraordinary publication proceeds with all
its original ability—extraordinary both in extent of
information, neatness of typography and moderation

of price.

GILBERTS MODERN ATLAS OF THE
WORLD. Part V.
This serial is one of those aptly dedicated to the
million. It will afford endless instruction as an ac-
curate geographical reference, and endless amuse-
ment to those who relish imaginary travelling.

." The last geftral meeting of the South-Eastern Com-
pany was held on the 16th of May, and at that meeting
the proprietors approved of eleven Bills, which were
submitted to them, and which were then under the con-
sideration of Parliament.

" The most important of these Bills was the one for
constructing a railway from the Greenwich Railway,
through Woolwich, Gravesend, and Rochester, to
Chilham, which is the South-Eastern North Kent
Railway. This Bill received the royal assent on the
3d August last, but with powers only to construct that
portion of the railway between Greenwich and Graves-
end, from whence it is continued to Rochester over the
Gravesend and Rochester Railway. On the same day
the Bill authorising the purchase of the Gravesend and
Rochester line by the South-Eastern Company received
the royal assent.
" The South-Eastern North Kent till passed the
House of Commons after a very severe contest, and
was before a Committee of the Lords, when arrange-
ments were made with the rival North Kent Company
to withdraw all further opposition to the South-
Eastern Company ; and the South-Eastern Company
purchased the plans of the North Kent Company, and
part of the estate of Sir Isaac Lyon Goldsmid, through
which the South -Eastern North Kent line passes, for
the sum of 30,0001.
" The engineers are now staking out the North
Kent line. The Directors have every reason to believe
that the North Kent line will be open for traffic from
London to Rochester within twelve months from the
present time.
" The Mid Kent line, which was a direct line from
London to Tunbridge, and London to Maidstone and
Ashford, shortening the distance to Tunbridge 9 miles,
to Maidstone 21 miles, and to Ashford, Folkestone, and
Dover, 13 miles, received the sanction of the House of
Commons; but the directors regret to say that it was re-
jected by the Committee of the House of Lords. The
importance of cutting off the angle at Reigate, and
giving the most direct communication to London for the
continental traffic; is under the anxious consideration of
the directors.

" The engineers of the Company are engaged in tak-
ing a fresh survey of the country; and circumstances
have occurred which induce the directors to believe that
they shall be able to submit to the proprietors and Par-
liament an improved line for effecting the important
objects in view.
" The directors feel bound to acknowledge the great
advantage which the South-Eastern Railway has re•
ceived from the punctual service of the steam-ships of
the South-Eastern and Continental Steam-packet Com-
pany between Folkestone and Boulogne.
" The passage has been made each way in two hours
daily, without the slightest intermission; and the har-
bour of Folkestone is so much improved by the works in
progress there, that the advantage of a double service
each tide between the two ports may be anticipated al-
most immediately.
" Since the opening of the branch to Ramsgate on
the Mk of April, the service between Ramsgate and
Ottend has been performed daily with equal punctuality.
" The Acts that have been obtained lest session, give
the Company power to raise 2,978,9001. by shares and
loans.

" This power the directors propose that the Company
shall exercise, by declaring that 285,000 of the shares
authorised to bo issued under the resolutions of the
special general meeting of the 11th of September, 1645,
and known as the No. 4 shares, shall be third shares,
71. 10s. remaining to be paid on each ; that the further
instalments to be paid on those shares shall not exceed
11. ss. each, with an interval of not less than three
months between each instalment ; and that the holders
of the No. 4 shares shall be entitled to the advantage of
any further issue of shares which may hereafter take
place for the purpose of completing any
.portion of the
projects for which the No. 4 capital was intended, up to
the amount which such shares would have represented if
they bad remained half shares.
" It is necessary to issue bonds to the amount of
279,000/, at five years' date, and bearing interest at the
rate of 31 per cent. per annum, to complete the settle-
ment for the purchase of the Gravesend and Rochester
Railway, 31,000/. having been already paid in cash.
" The directors also propose to receive authority from
the proprietors to issue bonds for 121,000 L, under
powers contained in their Acts.
" The directors beg leave to convey their thanks to
the proprietors for the support received from them
during the Parliamentary contest, and to assure them
that nothing that they can do shall be wanting to pro-
mote efficiency and economy in the working of the rail-
way, and to attain those advantages upon which so much
labour and capital have been expended to gain."
" JAMES MACGREGOR, Chairman.
" Lendon Terminus, Sept., 1846."
The CHADIAN then proceeded to say, that the labour
and money the proprietors had expended in construct-
ing these railways would have been spent in
vain, if they had not attained their object—a
profit on their total outlay. It was true that the
account just furnished to the meeting did not
exhibit au amount of money at their disposal which
was commensurate with the capital they had embarked,
or the arduous struggle in which they had been en-
gaged.—(llear.) But he had different expectations
for the coming half-year. In the meantime the directors
had recommended the dividend to be declared that day,
chiefly from the consideration that at their next meeting
for the same purpose they would be in a position to de-
clare a greater one. Although, however, he acknow-
ledged that the returns of money were far from satisfac-
tory, yet he was hopeful that their next accounts would
show a great increase on the opening of the conti-
nental railways. During the past year the average rates
of fares per mile was only ltd., how then could it be ex-
pected that the railway should pay? They had
made the trial, and it had failed ; they
were therefore justified in retracing their steps.
He was happy to say that during the last week (al-
though only days were taken), as compared with the
correspor.ding week of last year, that there was an in-
crease in their traffic of not less than 4,0001. He had
now to request their attention to the proceedings of the
Company during the last session of Parliament. The
Chairman then shortly adverted to the lines which had
been passed, and to those which bad been unsuccessful,
and concluded by moving the adoption of the report.
Lord TORRINGTON, in seconding the adoption of the
report, said that they had no doubt lately read in the
leading journals of the country very stringent
articles on the conduct of the Company in raising
the fares of the line. He (Lord Torring-
ton) respected the press as much as any man,
but he did regret that the writers for these periodicals,
without looking into the facts, and without making in-
quiries into the circumstances, should make such state-
ments. He regretted that they should have opened
these attacks without strong and serious grounds on
which to base the assertion that these attacks were just
and right. How stood the case ? Was it not the fact
that the fares of the South-Eastern Company would bear
comparison for cheapness with any other line in Eng-
land ? and when it was considered that the ac-
commodation given by them to the public was greater
than that given by any other company—when it
was considered that they ran third-class trains
five times a day, while their neighbours limited
that class to one or at most two a day, he thought that
when all these facts were maturely considered, they
would justifylthe Company in the eyes:of the proprietors
and of the public generally. These were the facts, and
any one who took tha trouble to inquire would find that
they were fully borne out.—(Hear, hear.) If these
charges were just, then, indeed, he admitted that the di-
rectors of that Company would be unworthy of the trust
reposed in them; but he could say for himself, as well as
for his brother directors, that as long as he had
to do with the Company, he wished to reduce
the fares to as low a rate as possible, con-
sistent with the interests of the proprietors.—(Hear.)
When they made that great reductionsin the fares on
the Ist September, 1845, it was made at the expense of
the proprietors, and the public had now no reason to
complain. They had shown to the world at large, and
the county of Kent in particular, that these excessively
low fares could not be maintained, because they could
not be with due attention to the interests
of the shareholders. But they had not raised
the fares in every case ; they had only
regulated them—(flcar, hear)—and they would find that
with reference to one class of carriages there was an even
fare of Id. per mile over the railway. If Parliament had
thought proper to throw out their schemes for giving a
more direct line than now existed to some of the towns
of Kent, thereby shortening the distance, it was not fair
that the public should expect that they should be carried
round twenty-one miles, or as it might be, for nothing.
The Company had to pay a heavy toll to the Croydon
company for the first fourteen miles of their distance,
and they therefore reaped no advantage in the shape of
profit from that. But was the objection against their
circuitous line a tenable one ? Did the Great Western
give a direct communication to the people of Exeter ?
and if not, did they abolish the extra fare for goods and
passengers ? He thought that the conduct of the di-
rectors had been marked by prudence, and was entitled
to their support ; and he would, therefore, with plea-
sure second the adoption of the report.
Mr. D. Ser.omoars said, that although agreeing almost
entirely with the report, there was still one paragraph to
which, before putting the question, he would wish
briefly to advert to, that was the one which had reference
to the raising of the fares upon the line. The
Noble Lord had, with reference to this very
paragraph, thrown out a sort of challenge, namely, with
regard to the lowness of the fares in the county of Kent.
The Noble Lord might be aware that this subject had
already kindled a flame in that county which could not
be but most injurious to the interests of the Com-
pany and of the shareholders : an universal dis-
content prevailed in consequence of the manner
in which the fares had been regulated. Taking
the fares under the new regulation, they found
that they were collected lineally and not diagonally, that
was, by the length of the line, and not by a direct or
geographical distance from place to place. The Noble
Lord said that they went twenty miles round. He (Mr.
Salomons) knew it, and it was, therefore, before agreed
by the Company that the fares should be collected geo-
graphically, and not lineally.—(Hear, hear.) He
trusted that the directors would yet see reason to
retrace their steps, and so satisfy the public expectation.
The coun'ty of Kent had declared against their present
proceedings. He held in his hand resolutions expres-
sive of this opinion that had been passed in the city of
Canterbury, and other parts of the district were getting
up similar meetings. The first question he would ask
the proprietors would be, "Can it be to your interest
to injure yourselves in the next session of Parliament,
by enlisting against you the opposition of a rich county
like Kent?" Could any one believe that the Company
would be supported in the next session? They might,
perhaps, imagine, from the speech of the Noble Lord,
that the fares had been universally and in the samed
increased. e-
gree It was not so. Where there had been
a longer distance by road than by railway, and where
the traffic by the former mode of conveyance was the
cheaper, the Company had reduced their fares but it

was only to greatly increase them where the road w 8 s
the longest. On the Ist September last they had adopted
the lineal mode of calculation, for surely it would be
too bad to do, as they now proposed doing, to charge
the inhabitants of Maidstone an extra price for the pri-
vilege of conveying them 21 miles round. He protested
against the late proceedings of the directors ; he pro-
tested because the opinion of the proprietors had not
been asked at all—(Hear, hear)—and he thought the
least that could be granted was, that at that meeting
they should have the opportunity of expressing (before
the report was carrried) their assent or disapproval.
One word before he sat down— there was no
foundation for the reports which had been so industri-
ously circulated, that the locomotive arrangements of
the Company were most irregular and uncertain. He
was happy to bear his testimony to the fact, that, with
the exception of a few irregularities unavoidable under
some circumstances, there had been nothing to complain
of in this department. He besought the directors to re-
scind their late resolution with respect to fares ;
he assured them that the course they had adopted
was most injurious to the reputation of the Company.—
(Loud cries of " No, no,'' " Yes, yes," and great con-
fusion.) He repeated that such a course was most in-
jurious—(lncreased confusion)—most injurious to the
reputation of the Company, and the opinions of the
county of Kent would confirm his statement.—(Hear.)
He would move an amendment,. that the proprietors
agree to the report with the exception of the particular
paragraph which referred to the increase of the ratea
of fares.

The CHAIRMAN said that he had looked into the
report, and he could see nothing in the paragraph which
called upon the shareholders to affirm the decision of
the directors. They had, by virtue of the trust reposed
in them, altered the rates of fares, and there
was, therefore, no necessity for the shareholders
to record a vote in their favour in this
particular. He thought that the one fact mentioned irk
their report was conclusive as to the propriety of regu-
lating the fares, he meant that paragraph which stated
that, with a vastly increased passenger traffic, the amount
was less per mile than by their former system.
The London and North-Western Railway had been held
up as a pattern for all railways. He trusted that as re-
garded the dividend to be declared, they (the South-
Eastern) would soon imitate their example—(Cheers)—
but he hoped that Company would never adopt as a pat-
tern the conduct_ of a company which sent only third-
class carriages once a day.—(Hear, hear.) He thought
that the inhabitants of the county of Kent had good
reason to think the South-Eastern Company their
friends, they having spent no less than five millions of
money among them.—(Hear, hear.)
Mr. JENNINGS rose to support Mr. Salomons' amend-
ment, and in a long speech deprecated the policy pursued
by the Company.
The report was then put and carried almost unani-
mously.
Mr. SALOMONS said he would give the shareholders
present an opportunity of recording their opinions by
entering the following notice on the minutes :—" That
in adopting this report the meeting does not intend to
pass any opinion on the increase of fares."
After a desultory discussion on some points of lesser
interest, the remaining resolutions (all of them being in.
accordance with the report) were carried.
The dividend declared was 17s. pet: share on the paid-
up shares, and Bs. 6d. and ss. Id. on those lately created.
Thanks were then voted to the chairman, and the
meeting adjourned.