The Sun.
London, England, 1856-02-23 00:00:00

Naval and IYlilitary Intelligence.

A portion of the advanced squadron of thtl Baltic
fleet, about to leave under the criers of Capt. Watson,
C. 8., had steamed up ready for leaving Spithead at sun-
set last evening.
The Algiers, 91; Capt. Codrington, C. 8., was docked
yesterday to be refitted.
The Qorgon, 6, paddle-sloop, Commander Crawford,
returned to Spithead from Plymouth yesterday.
The Thames steam-transport hauled alongside Ports-
mouth Dockyard yesterday, to prepare for the embarka-
tion of the troops temporarily berthed on board the hos-
pital ship Britannia and others for foreign service.
The Hasty and the Chubb, 2-gun-boats, rigged, manned,
and fitted for service, are to steam down from Woolwich
' Dockyard to the Arsenal to-day, to receive their ammu-
nition and stores, and proceed thence to Greenhithe to
be swung.

The Ordnance craft Junction, from Portsmouth, has.
landed at Woolwich Arsenal 40 30-pounder carronades
and some brass guns, with 300 cases of common shell,
from Portsmouth, and has embarked for her return
voyage to the same place 400 live shells and some mor-
tars and -mortar beds.
The Ordnance schooner Trader has brought a similar
cargo to Woolwich Arsenal, likewise from Portsmouth,
consisting of carronade guns and cases of strapped shot
and Shrapnell shells, filled with musket balls, for 24-
pounder howitzers.
The Ordnance schooner Marlborough has arrived at
Woolwieh with 30 32-pounder carronade guns from the '
gun-wharf at Chatham, and various other:Ordnance
supplies, which have been returned for want of storeage
room there.
The following appointments were made yesterday at
the Admiralty ;—Lieutenant Francis W. Sullivan, to
the Sphinx ; Lieutenant Herbert J. Marshall, to the
Philoinel ; Lieutenant F. Semple (for disposal), to the
Impregnable ; Lieutenant George Warsfold (for dispo-
sal),, to' the Victory ; Francis Oshurn (For disposal), to
the Waterloo ; Lieutenant Charles L. Pearson (for dis-
posal), to the Royal Albert ; Lieutenant A. H. Fitzroy
(for dispo.al), to the Royal Albert; Wm. F. H. Harris
(for disposal), to the Royal Albert.
The Hon. E. W. Sackville West and Sir Sibbald
David Scott, Bart., have just retired from the Royal
Sussex Artillery, the former on appointment to the
Grenadier Guards.

The ordinery.halflearly meeting of the shareholders
of this. company was held this afternoen, at the Euston-
equare station ; the Marquis of Chandos in the chair.
The CHAIRMAN said the accounts showed a favour-
able state of the receipts over expenditure during
the past year. A diminution of expenditure had
also been effected, and a larger sum than usual
had been set aside for maintaining the perma-
nent way. In future the reports of the directors
would be sent round to the shanelholders with the
statement of the accounts. The chairman then entered
into the details mentioned in the report, and said that
with rthrence to the circumstances of the company the
increased traffic anise from the good understanding that
existed between them and the Great Western. He had
' hoped with that agreement there would have been an
end to dissensions between them and the other
companies.' Several of the agreements into which
they had entered into with other companies ex-
pired within the year, and it was hoped they
would have been renewed on the same. terms.
With regard to the Great Northern, this com-
pany bad been unable to come to a fresh arrangement
with it, and things, as they existed in 1851, bad again
occurred, but he was sanguine an ainicetele.arrangement
would Soon; be entered into between the two companies,
with the mediation of the North-Eastern, the North
British and the Caledonian, and Lancaster and
Railways, Which mould put an -end tea the disputes which
at pre4nt existed. After alluding to the enactments
of Parliament which had made free trade in railways,
and which bad produced so much competition injurious
to rail Way proprietors without a corresponding benefit
to the public, - he was inclined to believe that Par-
liament must see that free trade in rail ways could only
be done at the public expense, and he looked forward to
an early alteration of the present system of railway
legislation.- He adverted to the arrangements that had
been made with the Midland Company and the Great
Northern Railway, but which had now ceased ; and
explained the nature of the payments that had been
made to each of them, which, in the end, had been a
_Baying to this company, by giving them an increased
-amount of-receipts on the passenger traffic, from their
not having to provide rolling stock with which to con-
vey their own passengers.
The SECRETARY then read the report, which showed
the net proceeds for the half-year to ho 690,2321.
12e. 111, to which was to be added 6,9501. is. 61., the
balance from the last year, making a total of 697,182/.
14e. 54. from this was to be deducted for further allow-
ance for renewal of rails 56,666/. 14',. 41., having a dis-
posable balance of 610,516/. is. Li. for dividend. The
directors recommended a dividend of 51 per cent, per
annum for the last six months, leaving a balance of
48,511/, lle. id. to be carried over to the next half-
year.
The Marquis of CHANDO3 moved the reception and
adoption of the roped. •
Mr. BRNsoN (deputy-chairman) seconded the motion.
The Right Hon. J. PARKER urged on the meeting
the necessity of their making seine general movement
for the improvement of their prlperty, or their stock
would altogether disappear under the present mode of
management. He referred to a letter he had published
on the state of the company's allaire, and also to the re•
port of the late. committee of investigation, impressing
en the meeting the necessity of their enforcing the carry-
ing out of the sound and useful refiring that that com-
mittee had i ecomtnendee.

Mr. HADFIELD, ho was confident if this
line had been properly managed the shareholders would
be receiving 7 per cent. inVrest. 200,0001. a-year
might be saved in the management of the company. He
condemned the directors borrowing money at enormous
interest, and said that if the money market had been
properly watched, from 75,000/. to 100,0001. a year
might have been saved in this department, and ho hoped
that when the money market became easy, and was re-
stored to its proper quiet - state, advantage
would be • taken of it by the directors, in order
to redu&i the amodnt to be pail for interest.
He enlere 1 into the di tails of expense relative
to the Working of the line, in each of which a saving
might be effected. The law of poor rates as it affected
railway property wal unjust, and during the past year
30,5581. poor rates had been unjustly paid.
Mr. MALINS, who had give untie() of a resolution,' re-
lative to the dispute between this line and the
Great Northern and Midland Companies, said that, in
cmisequonce of the Chairman's statement that there was
a prohability of an an-deal:le arrangement being conie to
between them, he should nut propose it to the meeting.
Ho contended that, before this unseemly competition hal
been entered on, this company should have consulted the
feelings of the shareholders. He hoped that when the
terms of peace came" under consideration'tbere would
no resiwyktion on either side. lie iniklore& Abe
beard to give the recominendation'of 'thitf-Coinfiiitte'e
Consultation their earnest and anxious consideration.
lie thought the profit from passenger traffic was lost in
the goods .traffic, 4d. a mile per ton for goods' being
much too small a rate. . .

Mr. PRINCHARD called attention to the capital ac-
count, which contrasted strangely with the increase of
revenue. The evils of the re-arrangement of this com-
pany resulted, lie said, from two individuals—the locomo-
tive superintendent and the general manager, and he
detailed the heads on which savings might he effected and
those e hero a trifling advance on the present rates would
give a considerable increase in the profits. One item of great
loss was the free granting of " passes." He seal met on
that head with the remark, "Oh, it was a privilege
given to the press." Now, he considered the press was
a national institution, and the press above all others
should have this privilege ; but he did not believe the
loss lie complained of arose from the'press. It was from
the abuse of passes granted- to the officials of
their own and different lines, and their relatives
rnd friends that he complained of, and he called on the
Board of Directors to investigate this sulject.
Several shareholders addressed the Finwing at great
length, And ultimately the report of the directors was
alopted,'and 'the dividend recommended declared.
Tire vacancies in the Directory were filled op, and
after some further business the meeting separated, alter
passing a vote of thanks to the chairman and directors.