The Sun.
London, England, 1846-08-13 00:00:00

NORTH KENT RAILWAY.

A special general meeting of the shareholders in this un-
dertaking was held yesterday, at the London Tavern,
Bishopsgate-street, for the purpose of receiving a report from
the directors preparatory to a dissolution of the Company;
Sir Isaac Lionel Goldsmid in the chair.
The report presented a detailed history of the North Kent
battle in a Committee of the House of Commons, which must
be familiar to most readers of The Sun (a lengthened report
of the struggle having during its continuance appeared m
The Sun from day to day), and it therefore be-
comes unnecessary to give a detailed notice of
this part of the report. The report then went on to
state that the committee, when the South-Eastern Bill,
for making the line from Greenwich to Charlton, reached
the second reading in the Lords, determined, under the then
existing circumstances, to abandon their opposition, in con-
sideration of a sum of money (35,000/.) which the South-
Eastern Company agreed to pay them. Of this sum, after
deducting the purchase money of some land, included in the
agreement, the property of the chairman, there remained a
balance of 27,5001. for liquidating the debts and liabilities
of the Company, and, after all claims had been satisfied, the
remainder of the money, if there was any, should be di-
vided amongst the shareholders. A return of about 30s. per
share would be made immediately on the receipt of the
money from the South-Eastern Company.
A PROPRIETOR having moved the adoption of the report,
The CHAIRMAN stated that 58,300 shares had been issued,
every shilling of the deposits on which had all been paid up.
—(Hear, hear.) The directors had put the Company to no
expense, except for a cup of coffee and a rusk.—(A laugh.)
A SHARXIIOLDER asked what were the ascertained liabili-
ties of the Company?
The CHAIRMAN said 75,0001. was demsnded of them, but
they expected, upon a minute examination, to reduce that
amount.
A SHAREHOLDER—How much?
The CHAIRMAN said, of course that would be a matter of
opinion, but he was then only dealing with facts.—( Hear.)
A PROPRIETOR from Dover said the shareholders in his
part of the country were averse to giving up the scheme.
The majority of the meeting, however, thought there had
been a fair stand-up fight between themselves and the South-
Eastern Company, and the directors had under such circum-
stances acted perfectly right in abandoning the opposition.
The report was unanimously agreed to.

In answer to a question,
The CtimumAx said the 75,0001. included the money al-
- paid from the commencement of the Company.
Subsequently it was stated that the expenses would not
exceed 15s. per share.
Thanks were then voted to the Chairman and directors,
and the meeting separated.

THE GENERAL SHIPOWNERS'
SOCIETY.

The annual general meeting of this Society took place
yesterday at the Hall of Commerce, in order to receive the
report of the Committee for the last year, and for the pur-
pose of electing five members to fill the vacancies in the
Committee. The chair was taken at one o'clock by George
Frederick Young, Esq.
The SECRETARY (Mr. N. Wm. Symonds), read the report,
from which we extract the following :
" Your committee regret that another year has passed
without any measure being introduced for the long-expected
amendment of the pilotage laws. They have again remon-
strated with the Government on the delay, and disappointed
as they feel that the evils so long complained of, proved, and
admitted, still remain unredressed, they will not relax their
efforts to obtain a remedy.
"No step has yet been taken on the subject of lighthouses,
to which attention was drawn by your committee in their
last report. The state of public business during the present
Parliamentary session may probably account for the com-
prehensive report of the Select Committee of the House of
Commons thereon, which was presented before the close of
the last session, having hitherto passed unnoticed.
"As a member of the great community of the empire, the
ship-owner advances no claim to special or peculiar privi-
leges: he has nu right to demand, on abstract grounds, ex-
emption from any burden to which other interests are sub-
jected, or any immunity from which they are excluded: if
they be protected, his ;right to protection is co-equal with
theirs : if they sustain the pressure of foreign competition, he
must make up his mind to meet it also. All this, however,
is true, only so long as he is permitted freely to pur-
sue like others his own interests in his own way,
unfettered by any restrictions from which other interests
are exempt. But if for objects of supposed national
benefit, conferring on him no separate or special advantage,
the State imposes on him burdens and restrictions of a heavily
disqualifying nature, common justice would prescribe that
up to the point to which the proved disqualification extends,
he should be protected from the competition of 4 those who
are free from his burdens; and common sense will determine
that unless so protected, he must sink in the struggle of such
competition. Now this exactly is the case of the British
shipowner. By the registry laws he is restricted to
the use of ships probably the most costly in the world.
By the navigation laws he is compelled to employ ex-
clusively the highest paid and most expensively
fed seamen—those of native birth. By a variety of laws
and regulations deemed by the Legislature essential to some
common interest, or some general duty, he is impeded, taxed,
and prevented from conducting his pursuits in the manner
most conducive to his own interests. The effect of all this
on his expenses must be self-evident. It has been estab-
lished argumentatively—statistically—before Committees of
Inquiry—by Parliamentary returns—by proof upon proof, de-
fying refutation. It has been demonstrated by the most con-
clusive ofall evidence, that of experience. Your committee have
no desire to revive bygone controversies, but the annual
records of their proceedings bear continual testimony to the
practical effects that have followed in every instance, in
which the experiment has been tried of placing British
shipping in a position of unprotected competition with the
ships of foreign nations. It is consolatory to have observed
that in reply to a question from the late Chancellor of the
Exchequer, Lord John Russell, in a recent discussion on
the sugar duties, declared that he did not propose in
any respect to alter the existing navigation laws.'
Still, in the signs of the times your committee per-
ceive abundant reason for shipowners being prepared.
It would be unworthy of your committee to affect to con-
ceal that which their successive records abundantly testify,
that their own opinions have always been favourable to mo-
derate and just protection to all interests. In the support of
this principle they have been actuated by no selfish desire to
promote class interests at the expense of those of the com-
munity at large, bat have been prompted solely by the
conviction, that in its maintenance the interests of all
would be most effectually advanced. If the general
policy of the country is to be changed, they ask not now that
for their own sakes they shall constitute an exception. But
what they demand, is, even-handed justice. That justice
which by Sir. Robert Peel was promised to the agriculturists
on the repeal of the corn-laws, and by Lord John Russell to
the colonists on the alteration of the sugar duties;—namely,
that freedom of production shall at least go hand in hand
with freedom of competition."
Mr. Cirarmasr, M.P., move,l the adoption of the report
and expressed his opinion in favour of protection, and his
gratitude that the Noble Lord (Lord G. Bentinck) had
taken up tile question in such a statesmanlike manner in the
House of Hedidnetbelieve that the day was
distant
when Commons.hos principles woulde prevail if they would
rally round each other.
Lord GEORGE BENTMCK said that he came there
as the representative of King's Lynn, a great com-
mercial district, and not with the intention of taking
an active part in the proceedings of the day. He
had always believed that the shipping interest of
England was of the greatest moment to the country. He
did not wish to enter into any debateable questions, but he
felt that it was hard to speak of British shipping and not
speak of free trade—(Hear, hear)—which, wherever it had
been tried, had never failed to injure that interest; and he
could tell them that unless the day arrived (which God

forbid that he should live to see) when they•conld make
the British sailor live as cheaply as the Norwegians
and Danes, they never could contend on equal
terms with the shipowners of other countries and
of that country. They were told that they ought to be quite
satisfied with the progress that they had made, but what
signified that progress if others exceeJed that progress, what
signified it if they run a race, if others run faster?—(Hear,
hear.) And he considered that the navigation laws should
be maintained in their entirety, and they should avow free
trade with those countries that had a competing maritime
force. Where was their strength ? Was it not in those colo-
nial possessions where they had a monopoly ? In China, where
there was no naval force but their own—in India, where such
was also the case? They ought to have different commercial
treaties with different countries—a particular treaty with
China; another with Norway; another with Russia, Prussia,
and Sweden. That was the doctrine which he maintained.
The course of the shipowners was again to unite—in union
was their sole strength. It was said that Parliament had
decided the question of free trade, but he did not know that
the country had done so, and he, for one, would not give up
the question as lost.—(Hear, hear.) As long as he was in
Parliament he would fight the battle of protection.—(Hear.)
He would conclude by seconding the adoption of the report,
which was carried unanimously.
Lord G. BENTINCK then moved a vote of thanks to the
Chairman. It was only in his absence from the House of
Commons that he (Lord George Bentinck) advocated so
zealously their interests, for if Mr. Young had been there it
would not have been necessary for him to have said one word.
The resolution having been seconded, was passed unani-
mously.
The Chairman briefly thanked the meeting.