The Sun.
London, England, 1851-04-14 00:00:00

RAIL WAY IN TELLG.ENCE.
THE EASTERN COUNTIES AND NEWMARKET

RAILWAY COMPANIES.

We subjoin the report of the committee of Eastern
Counties shareholders on the subject of the proposed
guarantee by that company to the Newmarket Company:
Report of the Committee of Shareholders, to be laid
betore the Proprietors at the Special General Meeting
of the Company, convened for Thursday, April 17,
1851.

" I our committee have to report that the negotiations
with the Newmarket Company, alluded to in their sup-
plemental report adopted by the special general meeting.
held on the 18th ultimo, have resulted in the provisional
arrangement of the terms of a working agreement
between the two companies, based, in the opinion of
your committee, upon a due consideration for the common
interests of them both.

" Thu terms so rranged, subject to your approval,
have been referred to the solicitors of the company, to
be by them embodied in a formal agreement, for execu-
tion by the two companies respectively.
" A sketch map of the country occupied by the New-
market Company, in respect of lines made and unmade,
exhibiting their connexion with the other lines of the
district, accompanies this report, a study of which will
illustrate the importance of securing a position which, in
the command of a competing company, might be used as
the basis of operations seriously detrimental to Eastern
Counties interests.
"Indeed, the main object of your committee in re-
commending the arrangement is to prevent the diversion
of traffic from the lines of the Eastern Counties Com-
pany by intrusion en the part of other companies having
competing, if not hostile, interests, care being taken
that the desired protection be obtained upon terms at
once prudent for the Eastern Counties Company to con-
; cede and satisfactory to the Newmarket Compaay to
accept,s
in their practical operation, to
sb pecuniarydinterests
of
both companies, and
Ito maintain between them constant good-will and mutual
uve and
ae
calculated,
co-operation.
" The entire arrangement is based upon the condition
of the speedy completion and opening of their line to
Cambridge by the Newmarket Company, from the date
of which event the proposed agreement will come into
operation, and not before.

The principal financial feature in the arrangement
is the obligation to be assumed by the Eastern Counties
Company to pay to the Newmarket Company such a
sum as shall, with the amount of their own net earnings,
be sufficient to pay a dividend equal to 3 per cent. per
annum on the amount of their share capital (stated at
350,0001., or thereabouts)—with this limitation, that in
no event shall the Eastern Counties Company be called
upon to pay a larger sum than 5,0004 in any one year.
" In reference to this part of the proposed arrange•
ment, your committee observe that the deputation from
the Newmarket Company in an early stage of the nego-
tiations stated that they estimated the value of their
lines to bo equal to 3 per cent. per 81.11311111 on the share
capital; and, at the request of your committee, fur-
nished statements of the amount of their share capital,
and of their debenture debt, and also calculations show-
ing the grounds on which they so estimated their pro-
perty.
" Upon a careful consideration of the facts and esti-
mates thus submitted to your committee, and having
especial regard to the importance of the situation occu-
pied by the Newmarket property, which they cannot
but look upon as the key of a.defensive position of great
value to the Eastern Counties Company; and also in
consideration of the improvement which must necessarily
take place in the earnings of the Newmarket Company
by the opening of their line to Cambridge, which will
have the effect of extending their traffic to Ely over the
Eastern Counties lfne, and of increasing it to Chester-
ford, via Cambridge, your committee came to the con-
clusion that it was expedient to admit the estimate of 3
per cent. as the basis of the financial part of the pro-
posed agreement, subject to the limitation of 50001. as a
maximum possible payment by the Eastern Counties
Company.
At the same time your committee stipulated for an
option being reserved to the Eastern Counties Company
of the right to purchase the whole undertaking at twenty
years' purchase on their guaranteeing to the Newmarket
Company a dividend of 3 per cent, per annum on their
share cepital, being at the rate of 151, per share for each
paid-up share of 25/. each. This stipulation has been
agreed to by the Newmarket deputation.
" The working details of the agreement your com-
mittee would leave to be settled by the board of directors,
as your responsible executive.
" With these observations your committee recom-
mend the adoption of the proposed terms, and that they
be referred to the board of directors to carry the same
into effect.

" Acting upon the powers granted to them your com-
mittee received a deputation from a publicly convened
meeting of proprietors of the East Anglian Company,
held at Manchester, from whom they learned that the
pending agreement between that company and the Great
Northern Company is still in abeyance.
" The deputation expressed a desire for a working
arrangement with the Eastern Counties Company, in
preference to that proposed with the Great Northern
Company; when, after giving the matter due considera-
tion, your committee came to the conclusion that the
matter could be more fitly dealt with by the board of
directors, to whom, therefore, they referrt d the deputa-
tion, and accompanied such reference with a strong re-
commendation to the board to consider the matter, rcith
the view of carrying the object into effect upon equitable
terms, and thereby to promote the policy of securing to
the Eastern Counties Company the con.rol and manage-
ment of the lines and traffic in the eastern districts of
Euglard.

"In conclusion, your committee okierve that they
have practically confined their I.hour to the arrangement
of the terms with the Newinark,q Company, the Dego-
tivions with whom were pending at the date of their
last report to you; and have not thought it prti,frnt or
expdient to act upon the powers conferred upon them,
to enter into negoti:.tions with all or au of the other
companies in 010 eastern district, as they have consi-
dered that to have deco woula interfere with the free
and reipon.sible action of the board of direc;orr, and
would have retarded rather than promoted the accom-
plishment of the object you had is view in conferring
those powers upon Oman

" B. NIARWOOD KELLY,
DAVID WADDINGTON,
GEO. C. PAULING,
MATH. NICHOLLS,
JOSEPH Box.
JEREMIAH Finals:R.
" Bishopsgate Station, April 10, 1851."

The Court will most probably leave town about
Wednesday next.

Pairs TERs' DRAMATIC SOCIETY.—on Saturday
evening an amateur performance by the members of this
society took place at the St. James's Theatre, in aid of the
funds of the Printer& Pension Society. The entertain-
ments consisted of The Merchant of Venice, a recitation of
Collins's Ode on the Passions, and the drama' of Charles the
Twelfth. The performers on the occasion were all mem-
tiers el, or connected with, the printing trade, with the ex-
ception of Miss Cooper and Miss Marshall, of the Lend=
theatres. The theatre was extremely well filled, and
Prince Albert, under whose patronage the performance
3i.00k place, attended by Colonel Gordon, occupied the royal
i oos
uer
sed
box, which had been specially retained by her Majes yon
ih'yesatrna.ti
the occasion. On his Royal Highness being recognised by
,t,hoe
oadtarsauvpeonthehis
1 iwyj :ft, hirce:
The charitable object for which the entertainment was pro-
motedmany par s well acted. Great pains
Queen
x was performed I o
,n_mdi
c cheer
a s
renders comment unnecessary ; but we are bound
to say, that the Ifercha read
t -
toin render the scene worthy
had throughout,
bee
n taken and
of a more
" professional " event, and the costumes betrayed a stricter
adherence to historical truth than is generally observed
by amateur performers. Previous to the comedy an ap-
b3 Min Catherine Will.
and Collios'a Ode on the Passions was recited lam,'
propriate'addrees was spoken , •
His Royal Highness theappPealaryedanmduch
Ellen Feist between the concluding drama.
g
performance.
Richings Park, near Iver, the residence of Sir
Thomas and Lady Willshire, was the scene of great festivity
on Friday last, on occasion of the christening a their infant
son and heir, who received the names of Arthur Reginald
~
friends
1 m
and neighbours. ° as, in the presence of a distinguished party of their
.
Ills Excellency the Belgian Minister (M. Van de
Weyer) is, we are happy to learn, quite recovered front his
recent indisposition arising from influenza.
MARRIAGE OF MISS TALBOT.—This young heiress'
attended 'the souse given by the Countess of Jersey nu
Friday night, in company with the Countess Newburgh.
She is a visitor at the residence of the Lord Chancellor and
Lady Truro, and all her proceedings are closely watched by
the Chancellor, who seems determined that no undue influ-
ence shall be exercised towards her. The ease of this lady,
which has excited so much attention, is likely, it is said, to
.
holds the office of
receive a very happy and legitimate solution. It is
,cur-
rently rumoured that Mies Talbot is about to be married to
Lord Edward Fitzallan Howard, M.P. for Horsham, second
the value of 26,000/. per
son of the Duke of Norfolk, Hereditary Earl Marshal, and
Premier Peer of England. His Lordship
is ie his 34th veer; is
Vice-Chamberlain-to the Queen, and
dwaid is a Roman
heir to a property in Devonshire of
that Lord E
annum, so that the 80,0001. would not be thrown away. It,
perhaps, need scarcely be added
Catholic.
THE CONDEMNED Cos CT 111
A
R
—Y CLARE.—This
unfortunate young woman, who Ras convicted at the last
Bury assizes of the murder of her Vinfant, still remains in
Ipswich gaol, and should no reprieve be received she will
be executed en the 23d instant. It is, however, generally
believed that she will not be hung, it being alleged that
at the time she committed the crime she was labouring
under au attack of the milk fever. The way in which
buryingrtuac .710111 ala perpetrated the murder—namely,
the ilot alive seems to bear out this belief.
A statement of the whole case has been submitted to Sir
George Grey, but up to Friday night no answer had been
received. _

ETON uOLLE
--- ri
GE.—The Dowager Lady Farquhar,*
Sir Walter Farquhar, and Mr. Ilarvie Farquhar, have caused
a memorial window to be
,laced in the college chapel of
p.
Eton to the
Eto and memory of Mr. larquhar who was educated at
Eton, at the age of 19 killed at' the battle ot Alliwal,
fighting gallantly. ' The subject of the window is the story
of King David. There are two compartments- the centre
one represents king David, and in each of the other divisions
are groups of figures illustrative of the narrative. Between
the groups are angels bearing scrolls, on which scriptural
passages are inscribed. The tracery is also tilled up with
angeL bearing similar scrolls and inscriptions. The detail is
composed of rich foliage, of the most harmonious colours.
This beautiful window, which has just been completed, was
executed by Mr. \Valle, of Newcastle-upon-Tyne. An ad-
joining window to the above, subscribed for by old Etoniaus,
and executed by Mr. Connor, of London, has recently been
presented to the college. These windows are at the western
entrance to the chapel.
The Grand Surrey Canal Company have notified a
winch will date from the 31st
reduction in their charges. ult..
The alteration is the same as that recently adopttd hrtlia
1 Commercial Dock ComPailY, with the exception that a
monthlv and not a weekly rent, will be substituted for the
quarterirtarnis In - ' 't,her to customary.
The Essex 414410,C0..114.71.e figented.a tehrigto,ereci
(16.661164 iiiiitlc asp= for 63,466/.