The Sun.
London, England, 1856-04-02 00:00:00

ItAIL WAY INTELLIGENCE.

PORTSMOUTH.
The half-yearly meeting of this company was held on
M .n lay at the office, Gres:, George-s'reet, Westminster;
Mr. R. D. Mangles, M.P., in the chair.
Mr. HORNE, the secretary, read the minutes of the
last meeting, which were c infirmed. Toe report stated
that the progress of the works had, under all the circum-
stances of the case, been satisfactory to the directors.
The works now extend almost co.,tinuously from the
junction with the Lot don and South-Western Railway
at Godahning to Haslemere. Ground has been recently
broken also bvyond that. town, and arrangementsfor a consi-
able length of land at Liss are nearly completed, which
will enable the contractor to commence the works in
that neighbourhood. It is ex• ected that the first section
t.f Ihe line from Gudaltning to Witley Will be ready': for
traffic next autumn, and that an arrangement. for 'the
working of the traffic conducive to the public interests
and satisfactory to the shareholders will hare been made
by that time with one of the existing railway companies.
The directors remind the shareholder: that ever since
the inc,irporation of the company in 1853 circumstances
highly adverse to the construction of a new railway have
been in operation. There was now, however, a prospect
of a favourable chanze, and the directors were prepared
to avail themselves of it, in order to press forward the
works to as speedy a completion as the extent of im-
provement in the moneV-niarket would justly warrant.
The dir, ctors wish it to be uoderstood that their opinions
in respect to the intrinsic character of the undertaking
remain nucha-ged; and that its completion a10n0.,j4
needed to demonstrate its usefulness to the Governmeni;
and to a large population hitherto in-ufficiently supplied
with railway accommocktion, or altogether without it,
as well as its value to the shareholders. The, reprt of
Messrs. Locke and Errioglon, the engineers, states that
sit Buriton the tunnel, 480 yards in length, through the
chalk, is now finibhed except the faces: At Haelernere
some hindrance bas occurred from slips in the embank-
ment, but now the work is proceeding more rapidly.
Considerable progress has been made at Witley. Seven
bridges and the requisite culverts for the embankments
have been built. Upwards of 500 men and 75 horses are
now employed upon the works. The capital account to
the 23d of March showed that 103,789/. had been re-
ceived and 101,945/. expended, leaving a balance of
6,8351.

The CHAIRMAN congratulated the shareholders on.the
recent announcement of peace, and hoped, among other
inestimable benefits, they would find the money-market
in a more easy position, so as to enable them to raise
the requisite capital to push forward the works -with•
rigour, and to come earlier into dividends. They were
at present in negotiation for terms of arrangement with
ez• companies for working the line. They had power
t for n juncions frith the South-Ristern line at Sbal-
ford, an i with the Smth Western at Gedalming, and
they b.peri to make terms with one or both of those corq-
Rthies which r ould he satisfactrry to, the shararoldeis
anti useful to the public and the Government. It was
Able the propri.ltors should refrain from asking in-
discreet questions on the subject, and be thought they
had vr-rr roue', better leave the matter entirely in the
hands oft .e directors.

Mr. SoLolgioN ...hnieht they should endeavour to open
the line it. thr fir- insta .ce from Havant-to Peterafield. • ,
Mr. BEST was of opinion that it was the interest of
the South-11 eAt-rc Company to wi.rk the line.
T•is CHALIMAN explaim-d that they had considered
every pain , and Atm, oy an arrangement with -the
Sou .h-Woßtern Comriany they :night torn such a junc7,.'.
do • ith h S u t -Eaatern line as would save them
}tit 'ill day w 20,6001

T rep it wa ur, nimootily a toiled, Mr. E. Robins
wa ra-elicted a director, and the allowance to the audi-
tor v.i- r diced inn 50/. to 251. each per annum.
Mr. S iLomos expr se,l iiimself•atiafied with the pro-
ceedi of th.- direo er • nd st•ifod that be bad fall con•
fi iei.ce in ii e.o. Ifs c clu.led by moving a cordial
t th cha rman and directors for their
able main, Feint n ot the c •tnpany's affairs, which was
carried a onou-lv.

Our ,N in aot< owledging the compliment,
wished it to o. und,r :cod that he bad not taken the
ch tie as chain] an to the CO2I .any ; he merely performed
the duties for the presdut, as he was anxi..u,.4 to give
then all the assimtanco he could. but his other aroca•
o,ns would not admit of his being chairman of the
company. The director. bad very difficult-and anxious
dutits to p -rform, anti they required the flank and
hearty support of the proprietors to enable them to
n.trry Out the under iking, in which they were all deep'''.
intereFte 1.
The meeting then septtated.