The Sun.
London, England, 1851-09-01 00:00:00

NE W MARKET.

The half-yearly meeting of this company was held
on Saturday at the London Tavern, ➢lr. Fane in the
chair.

The Secretary then read the report, as follows :
"So short a period having elapsed since the 30th
April, when a full report of the position and prospects
of the company was laid before you, the directors have
little to add to the information then furnished. The
agreement with the Eastern Counties Company has been
finally settled, in the same spirit of good faith which
characterised all the proceedings, and has received the
common seal of the respective companies. To aid in
producing a cordial co-operation between the companies,
it was suggested that one member of each board should
be elected to the other. Your chairman has been unani-
mously elected to the Eastern Cuunties board, and the
directors are happy to say that the chairman of the
Eastern Counties board has consented to give your
board the benefit of his great experience. As soon
as the directors had concluded the agreement with the
Eastern Counties Company, they arranged with your
former contractor, Mr. Jackson, that ho should com-
plete the lino into Cambridge, as a single line, for the
sum for which he had previously agreed to find contrac-
tors to do it, and having made this arrangement, they
proceeded to get possession of the land. In doing this
they had some difficulties to encounter, in consequence
of their Parliamentary powers to take lands having ex-
pired. They, however, by duo exertion, got the better
of those difficulties, and after some delay placed Mr.
Jackson in possession of the whole line. The works
have now been some time in progress under the super-
intendence of Mr. Samuel, who has been appointed en-
gineer to the company, and they will be shortly com-
pleted, when the real value of your line will be tested.
" The traffic has not exhibited so much improvement
as bad been hoped for. It has, however, improved; and
the improvement being aided by a considerable diminu-
tion in the expenditure, the result will be, that the line
will have produced, in the+ half- year, nearly sufficient to
pay working expenses and debenture interest, so that the
loss onthe half-year will be of no very serious amount. The
directors hope that it may be diminished when their ac-
counts are finally settled with the Eastern Counties Com-
pany. The charge hitherto made for rolling stock, is,
as they conceive, considerably more than it ought to
have been. The directors continue to entertain san-
guine hopes as to the future traffic.
" The accounts for the half-year are appended. It
will be been that the directors, though fully appreciating
the vote of the shareholders, passed at the last meeting,
relating to themselves, have declined to withdraw any
sum from the funds of the company until the line is
completed to Cambridge.
"The directors regret to Le obliged to state, that a
shareholder in one of the extension lines has proceeded
against the company in Chancery, in reference to the
extension fund in which he is interested. his the more

to be regretted that such proceedings should be taken,
because it seems to your directors that the moment the
Cambridge branch is completed their attention should
be steadily directed to one at least of those extensions,
that to Bury, which was strongly recommended in the
report made to you in 1849 by the committee of investi-
gation, which report you adopted. Some inquiries have
already been made in reference to that extension, and it
it shall appear upon further inquiry and careful calculation
that a single line can be constructed to Bury, so as to
pay not less than 5 per cent. on the outlay, it is the in-
tention of the directors to go to Parliament for such fur-
ther powers as may be wanted. Much, however, must
depend upon the disposition of the landowners. If they
are really desirous of having the railway, and will give
their cordial assistance, the directors have reason to
hope that it may be made and afford a remunerating re-
turn. If otherwise, the directors will not attempt a
project which, under unfavourable circumstances, would
probably fail for want of funds."
The CHAIRMAN said that since their last meeting
the whole attentio❑ of the directors had been turned
to making the line to Cambridge, as the only source
from which a material amount of traffic was to be
looked for. There was every reason to hope that the
line to Cambridge would be opened in the course of
the month of September, and from that period they
might expect an increase of traffic, which would
place them in a position very different from that in
which they had hitherto stood. The directors were
now turning their attention to the making of the
branch to Bury, and had already adopted measures
for the purpose of carrying it out. Comparing the
receipts and expenditure with those of former years,
there was a difference of not less than 3,0001. in
favour of the company, arising from the increase of
the former and the dimunition of the latter.
In answer to a question from a Proprietor,
The CHAIRMAN said, that when the line was opened
to Cambridge, it was anticipated that the returns, in
conjunction
with the sum of 5,0001. which the Eas-
tern Counties Company had engaged to pay to them,
would suffice to pay a dividend of three per cent.
The directors had never hoped for prosperity until the
completion of the Cambridge line, and he was con-
vinced that the steps they had taken were such as to
lay the foundation of prosperity.
The report was then agreed to.
Thanks having been voted to the directors, the
proceedings terminated.

THE THAMES HAVEN RAILWAY AND DOCK

COMPANY.

The half-yearly meeting of proprietors in this un-
dertaking was advertised to be held at the company's
offices, Gresham Rooms, Basinghall-street, on Satur-
day, but at the hour appointed a sufficient number of
shareholders did not attend to constitute a meeting.
it was stated, however, by a director, that the
report prepared would have advised an adjournment,
as the board were in communication with some influ-
ential parties, with the view of giving increased life
to the scheme, and as the Thames Haven Amendment
Act, which received the Royal assent on the Ist of
August, gave the shareholders power to split up the
.50/. shares into such smaller proportions as they might
determine, a special meeting at some future day, not
far distant, would be convened.

WIIITEHAVEN AND FURNESS JUNCTION.
The half-yearly meeting of this company was held
on Saturday, at the Guildhall Chambers, Basingball-
street ; Lord Lonsdale in the chair.
The report was read. It was stated that the traffic
account exhibited an increase of receipts over those
of the previous half-year of 5571. 193., while the ex-
penditure was 8761. 13s. As the company was now
being supplied with engines more suitable for the
traffic of the line, it was anticipated that a consider-
able saving would be effected in the. cost of locomotive
power, and in the outlay for repairs, which had been
considerably increased last half-year in consequence
of an accident. The balance of the traffic account
of 7941. in favour of the company, was applicable to
the payment of the interest on the mortgage debt. It
might have been expected that after the opening of
the main line through, the revenue account would
have presented a more favourable result. But it
should be borne in mind that the railway was but part
of a general line of railway still incomplete, and