The Sun.
London, England, 1851-07-25 00:00:00

an Englishman who sought to assert the rights of his own
and other constituencies.—(Cheers.) Two actions at law
were now pending against him, writs having been
served upon him for two separate penalties incurred by
sitting and voting in the House, and very few could
be aware of the danger in which he now stood. It must
not be understood, however, that he looked with any
degree of fear at that fate. He was ready to meet any
number of actions, and whether he forfeited 5001. or more
for every vote he gave was to:him a matter of little conse-
, quence.—(Cheers.)' But if he were found guilty, he would
become, in tho words of the statute, " a Popish recu-
, sant," and would be disqualified from making a legacy,
• becoming a guardian for any child, or voting for a Mem-
ber of Parliament; and be compelled to give up all his
public offices, lay down his alderman's gown, and give
up hia commission of the peace, and, like a political
Cain have to walk through the streets of London a beg-
gar and a fugitive.—(Cheers.) Could any one suppose
that the people of this country would allow a punishment
of that kind to be inflicted?—(" No.") So said he, and
he was glad that he had been enabled to bring the
question to such an issue. He would be quite content
to act the part of a Sydney, a Hampden, or a Russell,
and throw himself on the sympathies of the English
peopla, for the purpose of getting rid of a state of the
law which was a disgrace to the country and the age
in which they lived.—(Cheers.) If they remained firm
and united, and did not carp and cavil on minor subjects,
they would carry terror into the camp of the enemy, and
finally accomplish the object which every true Liberal
had at heart.—(Cheers.)
Baron ROTHSCHILD opposed the amendment, consider-
ing it would be useless attemping to take his seat when
he was excluded by an express resolution of the Home
of Commons last session.
After some discussion the amendment was lost, and
the original motion carried by a large majority.
A petition to the House of Commons, m
praying
bngee that
the resolution excluding Baron Rothschild
re-
scinded, or that
he might be heard at the bar of the
House, was agreed to.
After a vote of thanks to the Chairman the meeting
separated.

LONDON, BRIGHTON, AND SOUTH
COAST RAILWAY.

The ordinary half-yearly general meeting of the share-
holders of this company was held yesterday at the Lon-
don Tavern; Mr. Laing in the chair.
The report, which has already appeared in our columns,
having been taken as read,
The CIIAIRMSN, in moving the adoption of the report,
said that he had but few remarks to make to them, since
the principal topics were all alluded to in the report, and
this meeting, moreover, took place in the broken part of
the year, when the full results of the year were not
before them. The increase of traffic in the last three
years, since 1843, when the system of lines now
in operation was first completed, was of the
most favourable description. In 1848 the total
income of the company was 450,4794; since then
no new lines had been opened of any consequence, and
there had been an increase in the receipts during those
years of about 100,000/., which had arisen from the
development of the regular traffic. As far as he could
calculate, the receipts of this year would be about
570,0001., which would show an increase of 120,0001.
This, he was happy to say, was the result of the steady
progress, and though looking at the receipts month by
month it would appear that they were exposed to great
vicissitudes, according as the watering places might
chance to be full or empty, yet, taking them from half-
year to half-year, the increase in the receipts had been
steadily progressive. He had made out a short abstract
of the half-yearly increase in the receipts since the cora-
mencemeat of 1848, which showed as follows:
In the first half-year, 1848, the increase in
the receipts was WI per cent.
Second half-year ••• ••• 9 ~
First half-year, 1849
Second half-year, 1849 , 9
First half-year, 1850
Second half-year, 1850 „. 7
~
First half-year, 1851
The increase of the number of passengers had been 40
per cent. in addition to the periodical ticket-holders, in
which department alone the increase had been from
10,4201. to 17,0561., showing how greatly the population
resident along the line, and travelling to London and
back, each had increased. During the same period the
dividends alone had increased, and where they were 13s.
in the first half-year of 1848, they were 14s. 6d. in the
corresponding half-year of 1849, 15s. in 1850, and 18s. in
1851. Therefore,whether they looked at the increase of traf-
fic or dividend, he thought this was one of the most pros-
perous half-years which they had at present seen. That
increase of traffic was, he was happy to assure them,
quite regular, the Great Exhibition, which had produced
so great an effect upon many of the Northern lines,
had had little or none upon theirs, which was
easily accounted for by the circumstance that
when those lines were the great communi-
cations between London and the agricultural
and manufacturing districts, this line communicated
only with one county, and was, in fact, more an outlet
for London than an inlet to it. The Brighton Railway
had, in fact, rather suffered by the Exhibition being
open, for it had kept in town many persons, and caused
them to spend money in London, of which they might
otherwise have spent a portion in travelling. Brighton
at this moment was unusually empty for the season
of the year, and in trains where their receipts
had been 8501. per week up to the Ist of May, they
had only been 4501. Whether the increase which had
marked the last half-year would continue was a matter
of speculation. When, however, ho considered that ac-
cording to the late census returns, the population of
Brighton had increased 33 per cent , and that of
London 20 per cent. in the last ten years, he
could not help thinking, if' this increase went
on in the same ratio for the next ten years,
they had every reason to expect that the receipts
of the company would increase also. One point to
which he wished to advert was the establishment of a
line of packet-boats between Newhaven and Dieppe, by
which the shortest route to the continent by the Brighton
line was re-opened. The shareholders would remember that
some time ago an attempt ass made by the directors
to open this route, which excited great opposition among
the shareholders, and the result was, that a decision was
come to that the company's capital should not be em-
barked in a steam• boat enterplise. Efforts had then
been made to induce private parties to put steamers on
the route, and the result was, that by pri-
vate speculation this line of communication had
been established, and by favourable arrangements
with the French railways for a low rate of,faree, a route
through to Paris had been opened, which was shorter
than any other. Along this they were carrying about
300 passengers deity, with a profit to the company of
about 1,000/. per month, and now they had got the
thing to work he did not despair of very soon receiving
a regular income of 12,0001. per annum. With
regard to the expenses ho had not much
to say. In all they were about 11,8001. In the car-
riage department they were much below the average, be-
cause in the last half-year a considerable push had been
mad© to prepare for any additional traffic which
the Great Exhibition might bring, and besides
that the renewal of a considerable portion
of the stock had been delayed until the
conclusion of the autumn traffic. As regarded the capi-
tal eccount, from the report the shareholders would per-
ceive the correctness of the estimate which was given to
them in 1848; and the directors, though they had
done even more than they had then promised,
had still kept considerably within the margin which
they fixed. The increase of stock had been
moderate, but what ho wished particularly to direct
the attention of the shareholders to was that this increase
had not been caused by any extraordinary demand, but
would have been required from the regular increase which
had taken place in the traffic. Before he concluded his
remarks, he wished to allude to the position in which

this company stood with regard to the South-Eastern
Railway Company with regard to the Hastings
traffic, The directors of this company certainly
did not want to compete, neither did he think that the
South-Eastern Railway wanted to compete. He did not
wish to impute blame to either party, for the mischief
did not rest with them, but with the Legislature which
had been so foolish as to sanction the construction of
two railways to a town for the traffic of which one would
suffice. His experience told him that when this was
the case, so far from benefiting the town, as it was
intended to do, it generally injured it, for the two com-
panies, tired at last of competition, entered into some 1
arrangement, and neglected the development of the re-
gular traffic. This might be the case with the two com-
panies in the present instance. The last topic to which
ho would advert was the opposition which himself
and his brother directors had offered to the
Railway Audit Bill. The principle of that Bill
had been before condemned by an independent
committee of their shareholders appointed to inquire into
it ; and his own opinion was that no Act of Parliament,
as long as shareholders were fools and directors in-
clined to be knaves, could save the shareholders. The

only remedy was vigilance and foresight on the part of
the shareholders. He had no hesitation in denouncing
any such Act of Parliament as a " downright humbug."
The Hon. Gentleman then concluded by moving the
adoption of the report.
Mr. SCHUSTER seconded the motion.
In answer to a question from Mr. LEVY,
The CHAIRINAN said that the reason why the directors
had transferred their account to the Union Joint-Stock
Bank was that they were able there to get larger interest
and more extended accommodation. The change had
saved about 1,0001. in the last twelve months.
The report was then put and carried uaninsously.
A resolution, declaring a dividend of 11. 16s. per cent.,
was also carried; as were also resolutions for the con-
solidation into stuck of certain Eighth Shares D, and
the forfAture of certain other shares.
The meeting then separated after a vote of thanks to
the Chairman and directors.

IRON HOUSES IN THE FIRE AT SAN
FRANCISCO.

N so much surprise, amid the many
surprising
gg
occurred the night of the great
resistance that was offered to the
Nothing
thingsexc excited
that
fire, as the little
progress of the flames
by the splendid and
could not harm them'
4-o flames were career.
substantial iron buildings that had been constructed
in the full conviction that firt.,
at least. Even when the insati .
ing 'wildly elsewhere, laying low
to stay their course,
rnan 's ingenuity could devise
the fairest fabrics
that
those doing business in these iron houses felt an
abiding confidence that they should escape
idea,
gene-
ral ruin. Others entertained the same
and
rushed their costliest articles into these warehouses,their
and when the fire swept out of existence
own combustible houses, consoled themselves with
the reflection that a part at least of their property Was
saved. But never was confidence more misplaced. It
is true iron will not burn, but destruction as total
fell upon all such buildings as if they
had been made
Of light wood. We watched the fate of two
ele-