The Sun.
London, England, 1851-05-02 00:00:00

PARIS TO STRASBURG RAILWAY.

The annual general meeting of the shareholders of
this company took place on the 29th instant at Paris.
in Herz's Great Room ; Count de Sispr, the Pre-
tident, in the chair. Near him were seated the

following directors : —The Duke de Gainers, Baron
d'tlervey, M. Fouchard, M. Fsyr, M. Baigneres,
NI. Blacque-Blair, M. CI iry, M. Cuevandier, M. _Daus-
Meg, M. Dubochet, M. ifaingt.erlot, M. Marcuard, M.
Roux, and M. A. Perdouizet. The meeting being de-
clared duly constituted, and the minutes of the preceding
general meeting read, M. Bossange, the secretary, pro-
ceeded to read the report .
This document commences by reminding the share-
holders of the favourable conditions of the concession
granted to the company. Tha whole length of the line
is 662 kilometres (415 English miles) ; everything is at
the charge of the State on 540 kilometres (337 i English
miles), except the laying down of the way and the ballast-
ing, and the moveable s;ock necessary for the working.
The branch line from Frouard to the Prussian frontier,
of a length of 122 kilometres (76k English mile) is,
however, completely at the charge of the company, but
it did not present the same difficulties of execution as
those which marked the main line. Experience has
shown that the average cost of a kilometre on any
great railway amounted to 375,000 francs, but in
the present case it was only 188,821 francs. As was
announced at the last general meeting, the company
had offered to assist the State at a fair rate of payment
in the execution of part of the line. The offer having
been accepted, the company had executed the works
which were necessary between Vitry-le-Franeais and
Bar-le-Due, so that this section, which otherwise
could not have been opened to the public until to-
wards the commencement of 1852, will be opened
in the course of next month. The report then touched
on the working of the line during the past year,
and its results. The gross receipts have amounted
to 6,007,417 f. 75c., from which, when the various taxes,
duties, indemnities, Stc., have been deducted, there re-
mains, for the nett receipts,

A sum of
The expenses being

The balance is
The receipts have gradually increased in proportion as
the extent of line opened became more considerable;
so that, if the last year were divided into two
periods, the first would give 2,490 f. 97c. per kilom.
per month ; and the latter, 2,802 f. 540., showing a
general increase of thirteen per cent. The works
on the unfinished parts of the line are being exe-
cuted with the greatest rapidity. The Strasburg to
Bale Company having offered to work, with its
own locomotives and carriages, the section from Sarre-
burg to Strasburg, for the joint advantage of the two
companies, until such time as the company to which
that section belongs was in a position to do so itself
without inconvenience; a treaty had been entered
into between the companies on the subject. The
profits are to be., thus divided—area-fourths to
the company from Paris to Strasburgh, and one-
fourth to that from Strasburg to Baie. The treaty
has been entered into for two years, but the Paris to
fromb
Strasburg Company can, on a notice of three months,
again enter into possession of the scetion alluded to,
,evt:lnelieonee the distafice between Luaeville to Strasburg
Rheims may be •
p,:vr?arkteodic, omarnywhenTrewpct,rikncsipostlthlienebrsahnaclhl blieneospetno
those of that to coloesic:ered as terminated; and
Snorfwbruck are nearly terminated. The
financial situationale
96,181,551 f . 67e.lhe company on toe Ist of the pre-
irm
ewnclezl was
as
.. f01..0..... ............ moeney received
.... ...
M0n.......... 109 985,812 r. 19a.
Money xthp

Excess of receipts ......
Deduct cAution•money ...............

............. 13,804 260 f. 52c.
773,333 f. 34e.

In band 9U dprii 1 ........ 13,030,927 i.

A 3 Art 44 of the statutes interdicts the distribution of any
dividend until the whale line is open to the public, the
profits of the working are always to be invested for the
benefit of the company. This has been done with the
greatest care, and ha 4 up to the present time brought in
not less than 8,857,811 f. The report then speaks of the
utility of a circular junction-line between all the rail-
ways terminating in Paris, and laments the delay which
has arisen in the execution of so important a project. It
adds that it has entered into an arrangement with the
Northern Company for the purpose of conjointly obtain-
ing permissio❑ from the Government to execute a junc-
tion line between their two railways close to Paris,
which would be the cause of great convenience, and
saving of expense to both companies. " You may
perceive, gentlemen," continues the report, in sum-
ming up what precedes, " how satisfactory is the
situation of our enterprise. The social capital is
uninjured ; out of the sum of 11,037,500 e, paid in
interest since the origin of our society, we have been
able to restore to the social capital 8,857,311 E 17c.,
we have experienced neither losses nor disappoint-
ments : the working of the 205 kilom. (1284 Eng-
lish miles) from Paris to Vitry has produced an
average of 7 3-10 per cent. on the capital expended on
that section; we hope to be able in the course of next
month to open the section from Vitry to Barle-le•Due,
and that from Sarreburg to Strasburg; and in the
course of the mouth of July, the section from Metz
to St. Avoid, making altogether 173 kilom., which,
joined to the 261 kilom. already opened, will firm
an extent of 434 kilom. (2714 English miles)
at full work in the first six months of the present year ;
we shall be able to open in the spring of 1852 the section
from Bar-le-Dec to Toul, and that from Nancy to Lure-
ville; and, should no unforeseen events arise, we have
every expectation of opening the whole of the principal
line and the branch line of Saarbruck in the autumn of 1852;
the activity imparted to the works has enabled us to
regain a portion of the time lost in consequence of the
events of 1848; in fine, we approach the end which for
upwards ot five years we have been endeavouring to attain.
We regret to have to inform you of the death of General
de Mouthion, whose enlightend and unremitting co-ope-
ration was never withheld from us. We have also to
state that Admiral Arnoux, of whose ability and expe-
rience we have had so many proofs, being under the
necessity of quitting Paris, has sent in his resignation.
Notwithstanding the importance of the task which
still remains for us to accomplish, and the multiplicity
of works of every kind which are its necessary conco•
mitants, we do not intend to propose to you to fill up at
present these two vacancies. We shall wait until the
whole line is finished before we ask you to decide on
what is to be done. It is only then that we shall
enter on a regular situation, and that we shall be able
to judge of what course it will be best to adopt." The
report then touches on the important point of the loan
of 35 millions, which had been suggested by some per-
sons as a means of dispensing with the payment of the
lest 100 E on each share. The report, atter expressing
the regret of the directors that the questioa had been
ever raised, denies that either the directors or a general
meeting of the shareholders have a right to deliberate
on such a proposition. No article of the statutes au-
thoriees any such course, as, according to them, a loan is
permitted only in case the funds of the company are in-
sufficient to execute any part of the works. But were a
loan of 25 millions effected, it would change the con-
tract by which too company existed, and consequently
alter altogether the position of the shareholders. Sup
posing, too, that the loan was legal and practicable,
would it be advisable to have recourse to it! The board
thought not. Unless the loan-bonds of a company had
a preference over the shares, and presented some decided
advantage to the hollers, they were of difficult negotia-
tion. In tither ca•e the shareholders would safe-. Iu
the first, because the bonds would receive a fixed lute-
rest, whilst the shares were obliged to receive what the
working gave; and i❑ the second, le-cause whatever
advantage was given to the bonds most be eff ceed at
the cost of the snares. Independently of these conside-
rations, there was another reas,:m against contractii,g a
loon, which was most conclusive, namely, that in order
to be enabled to effect one, permission mut be asked
from the Council of State, the decision of which would
not be given, in all probability, for months. During
that time the calls would be stopped, and consequently
the execution of the works arrested, which event would
prove of the very greatest detriment to the company, as
by the cahier des charges it was bound to have all its en-
gagements terminated iu the course of the ensuing year.
The report also touches on another project which had
been suggested—viz., to contract a loan of 25 millions
for three years only. It admits that such a plan ap-
peared less objectionable than the other, but that it did
not present sufficient advantages to induce the board to
entertain it."

When the reading of this report, which was received
with loud applause from the meeting, had terminated,
M. Hennin, one of the members of the commission,
named at the last general meeting to verify the accounts,
read a report. in which the commission spoke in very
high terms of the careful and accurate manner in which
the accounts are kept on ever part of the line.
The accounts for 1850 were then approved of, and a
vote of thanks passed to the commisson, the three gen-
tlemen composing it being re-elected for the present
year by acclamation. _ _

M. -Bossange then read the articles of the treaty
agreed to with the Strasburg to Bale Company, as alluded
to in the report.
This treaty was then put to the vote and adopted,
without a dissentient voice.

The arrangement with the Northern Company, for the
purpose of uniting the two lines together, was also ap-
proved of unanimously.
A Shareholder having inquired whether there was
any probability of auy part of the last 100 f. on each
share not being required from the shareholders?
The Chairman said that all that the board could stst9
at the present time was that it saw no reason to depart
from the course which it had hitherto adopted of mak-
ing calls of 25f. at such periods as the execution of the
works would permit. The next call would be on July
1, and would, as before, amount to 25f. per share.
The meeting then separated.

DREADFUL RAILWAY ACCIDENT
Yesterday morning intelligence reached Manchester of
a dreadful railway accident in the Frodsham tunnel, on
the Lancashire and Cheshire Junction line, about half-
past seven o'clock on the previous (Wednesday) evening.
A great number of people were said to have been
brought to Manchester during the night who were more
or lets injured, and it was rumoured that at least eight
lives had been lost. There had been a great traffic ov, r
this line on Wecirsesday, owing to its being the principal
day of the Chester races, and the tacts which first came
to our correspondent's knowledge respecting the accident
were, that three trains had left Chester on Wednesday
nigh, twith great numbers of passengers for Warrington
and Manchester, in quick succession; that the first train,
having too many passengers for the power of the loco-
motive, came to a dead stand in the middle of the Frod-
sham tunnel, which is a mile and a half long, and was
run into by the second, bur without much injury to
either train, and tiat then the third train came up at a
rapid pace find ran into the other two with a fearful
crash, the tail lights of the second train in advance being
obscured by the dense steam with which the tunn.l was
filled. The following partieu'ars were gathered from
gentlemen who had been passengers by one or other 01
the tram:—

Co'onel Petit, of the 50th Regiment, at Manchester,
says he left Chester by a train at a vector before seven
on IVedriesday evening. It was a se-ry long train, and
he was in a first-deal carriage, near the end. On ar-
riving in the tunnel at Sutton, by Frodsham (ten mike
from Chester), under Sir Richard Brakes' property,
the train, which had been going very slowly, came to a
stand for want of steam, and the next train ran into
them from behind, although the guard had been sent back
to show a light as a signal for caution. The carriage in
which he sat was entirely crushed, and he lost conscious-
ness for some time. Oa recovering he tound himself
sitting on a portion of the carriage, the frame of which
appeared to have been demolished, and he walked out
apparently on a level with the ground, and came in con-
tact with the aide of the tunnel. It was intensely dark,
but be believed he saw four or five persons who had been
killed, and a great many with broken limbs. Miss or
Mrs. Ridgway, of Bolton, a lady who was in her own
carriage, with servants, was amongst the killed. He
(Colonel Petit) was cut about the head and face, but not
seriously injured.
Mr. Fulham, of Manchester, said he was in a first-
class carriage in the middle of a train which left Chester
at a quarter-past seven o'clock on Wednesday evening.
When they arrived in the tunnel near Frodsham they
stuck fast for want of steam, there being so little that
the engine driver could not raise a whistle. Thay re-
mained stationary for at least three-quarters of an
hour, when another train came up very rapidly
and ran into them behind, smashing several carriages
and throwing two off the line. An immense number
of people were injured, some having broken legs. The
only light iu any of the carriages was in that he was in,
and that was procured as a favour at Chester. He
thought there were twenty-five or thirty carriages in the
train, most of them being covered. In the train which
ran into it there were many open trucks with people
standing up. He reached Mauchester about one o'clock,
being only hurt in the back, and not seriously.
The guard of the third train says it left Chester at
half-past seven, and that there were lights at the tail of
the train in advance, but thet the steam from the en-
gine had so filled the tunnel that they could not be seen.
Mr. Ansel!, superintendent of the electric telegraph
for the Manchester district, says he was in a first-class
carriage (about the fifth) of the second train. The first
train of the three left Chester at five minutes to seven,
and consisted of about twenty carriages. In the Frod-
sham tunnel they struck the first train, but did not smash
it as they were going very slowly at the time. No person
in the second train was hurt by that collision, he thought,
but a few persons in the first were bruised. They had not
become stationary more than three or four minuteswhen
the third train came into them, producing a fearful crash.
There were about 25 carriages in the second train.
The carriage in wisicu he was sitting was smashed and
the roof knocked off. .No one in the same compartment
was hurt, but he assisted to take out two well from an-
other compartment, o:.e of whom had lost his fiegers,
and the other was severely cut on the head. Another
gentleman, who appeared intnh hurt, was brought on
to the Albion Hotel, Manchester. After the accident
the greatest centueien and eecitement prevailed on ac-
count af the utter darkness prevailing;. The cries for
" Help" were frightful. People were seeking wire.,
I,ushinds, and friends in all directions, and running
ebont in the greatest alarm for some time. He got out
of the tunnel as soon as he could grope his way, aed
sent to some farmhouses for lights. At or near the er d
of the train he was in was an open truck crowded with
p,ople standing, which the engne of the third train must
have struck, and over which it was supposed to hats,
pessed. One man was thrown completely out of that
carriage upon the top of a covered one, and said " Ged
only knew how he escaped." He (Mr. Ansel!) arrind
at ganche3ter about 12 o'clock.