The Sun.
London, England, 1851-02-27 00:00:00

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-WHITEHAVEN AN] FURNESS

RAILWAY,

The half-yearly general meeting of this company was
held yesterday, at their offices, Guildhall•chambers,
at one o'clock, the Earl of Lonsdale in the chair.
The proceedings were opened by the secretary reading
the report, from which we subjoin an extract, containing
the most important portion:—
" The proprietors were informed by the last half-
year's report, that the portion of the line from White-
haven to Bootle had then been opened. The remaining
length of thirteen miles, from Bootle to the junction with
the Furness Railway, was opened for traffic on the Ist of
November last, making the whole leggth of main line
row Opened thirty-four miles.

,6 With respect to the entire cost of the undertaking, it
is satisfactory to have to state that it falls considerably
within the original estimate. The actual outlay incurred
up to the 31st December last, as appears in statement of
capital account, amounts in round numbers to the sum
of 345,0001. The estimate of additional expenditure for
land and works amount to the sum of 20,0001. If to
this is added the sum of 5,0001. for extension of station
accommodation, additional rolling stock, and other con-
tin,t,encies, the total expenditure for the main line and
roiling stock may be taken at about 370,0001.
" During the last half-year a considerable reduction
has been effected in the arrears of calls. The amount of
41,0381., due on 30th June last, has been diminished to
the sum of 25,6131., which, it is expected, may be still
further reduced by nearly 4,0001. The balance of 22,000 L,
which will then remain, is owing upon 2,110 sbarea
held by parties who have been ascertained to be with-
out means of payment. The directors have accordingly
declared these shares forfeited, and this meeting will be
called
upon to confirm the resolution of forfeiture, and
to authorise the sale or other disposition of these shares,
as also 3 of the 4,216 shares previously forfeited. Upon
the whole of these 6,126 shares, the amount of deposit
awl calls paid is 30,3781. 17s. Id. The remaining
11,374 shares represent a capital of 227,580/. entitled to
dividend."
The CHAIRMAN, in proposing the adoption of the re-
port, congratulated the proprietors on the small cost at
which their railway had been constructed—a sum much
less than the Parliamentary estimates. He thought this
would have a great effect on the future prospect of the
since a very average receipt would be sufficient
railway,
opened the
to pay a dividend. They hf,d
lino at a very unfavourable period of the year,
which would account for the smallness of the
receipts, but he hoped they would,. soon be improved.
Ile wished to call the attention of the meeting to the
fact, that this line had not originated with the present
core parry, but with Mr. Stephenson, who had considered
k a line as this was necessary to develop the mineral
resources of the district; and he (the Noble Lord) hoped
that the line would carry out the anticipations of that
eminent gentleman. If it did not, it would be the first
great line that had fallen short of his prophecies.
Mr. DE VITAE suggested that for the future the re-
port should be issued a few days before the meeting.
Tie also wished to recommend that they should revert to
tho original system of
paying the gentlemen who sat at
their boards for their attendance.
The CHAIRMAN said they had better defer talking'
about that till they got a dividend.
The report was then adopted unanimously.
The meeting wrs then made special for the purpose of
Confirming the forfeiture of certain shares in conse-
quence of non-pay meat of calls.