The Sun.
London, England, 1851-12-05 00:00:00

RAILWAY INTELLIGENCE.
EASTERN COUNTIES.
A special general meeting of shareholders in the above
company was held yesterday, at the London Tavern,
David Waddington, Esq., chairman of the company,
presiding, to consider and determine on the propriety of
uniting with the London and Blackwell Railway Com-
pany in an application to Parliament, in the ensuing
session, for powers to make a railway from Ilford to
Tilbury (opposite Gravesend) and Southend, and fur-
ther to receive a report from the directors as to the
measures intended to be brought forward in Parliament
in the ensuing session on behalf of this company, or by
other parties, and which affect the interests of this com-
pany.
Mr. WADDINGTON, in opening the proceedings, apo-
logised for the late preparation of the maps of the con-
templated alterations. The whole blame lay with the
lithographer. The measures about to be submitted
were of great importance to the interests of the
company. The first point was connected with
the Great Northern Company. They had given
that company notice that it was their intention
to pass over a portion of their line, but, in
consequence of the kindly disposition recently evinced
by their directors, it was only intended to hold the
power as a means of protection.—(Cheers.) The next
point had reference to the junction between the East
and West India Docks and Birmingham Junction Rail-
way, and the Southend and Stratford Railway. This
would give them a communication with the North-
Western Railway, by what was called the Willesden
branch, and various other advantages. Much incon-
venience was removed by this arrangement, for which
the consent of the shareholders was necessary. An-
other alteration would give them command of the port
of Harwick, by the Eastern Union line. The total cost
of estimated alterations as connected with these junc-
tions would bo 30,0001. The next point was their pro-
posed arrangement with the Blackwell Company.
There had long been a struggle as to who should
have a portion of the Essex traffic, and at last the two
companies bad agreed to apply together to Parlia-
ment for a line of thirty-six miles, from Ilford to
Tilbury, to Southend. They would then both be
within a few minutes of being as near Gravesend as
the North Kent line, and, he expected, would get the
great bulk of that traffic. The traffic to Gravesend
And Southend would amount to about 48,0001. per
annum. He had proposed to distribute the capital
necessary for the proposed line among their own
shareholders, being sure of the paying nature of the
traffic. But knowing the depressed state of their pro-
perty—(Hear, hear)—he had merely reserved half,
which would be created into a 6 per cent. stock.—(Dis-
sent.) This would be offered to the shareholders, but it
would be entirely optional whether they took it or no, as
there were other parties ready to take up the stock.—
(Hear, hear.) The sum proposed to be raised for this
purpose was 45,0001., in shares of 101. each, with a de-
posit of 255. per share. But the advantages would be
great. The traffic would pass over their line in propor-
tions of 5,3, and 3 miles respectively, for which they
would receive toll without one farthing expense.—
(Cheers.) Their security would consist in the facilities
they would give the Blackwall Company in the passage
of their Bill through Parliament. The next point was
one of the greatest importance, and that was their pro-
posed connexion with the East Anglian Railways.
After some negotiation, the following terms had been
agreed on, by which they bad anticipated the Great
Northern, which would otherwise have seriously inter-
fered with their trade to Wisbeach. The East Anglian
Company had shown that they earned 35,0001. a year,
and he had entered into a provisional arrangement
with them, subject to the consent of the share-
holders, which would possible, in the first instance, en-
tail a loss of 5,0001. a year in working the line, but if
they had allowed the Great Northern Company to get
this line to St. Ives, it would have been absolute ruin
to the Eastern Counties; and he believed
i that the ar-
rangement would place their property n a perfectly
sound position.—(Cheers.) If, as he expected, they
should be able to work the line at 50/. per week, there
would be no loss, but he thought it best to place the
project before the shareholders in its least favourable
aspect. Another point was the arrangement by which
they would obtain a line from Wisbeach to what was
culled the harbour line, by the construction of a small
branch from the River Nene, at a cost of 16,000/. And
the last was their arrangement for working the New-
market and Chesterford line. The only other subject to
which he should allude was the working arrangement
they had made with the Blackwell Company, by which
the Eastern Counties would obtain two city termini, and
he believed acquire a large residential traffic. The
chairman concluded by reading a series of resolutions,
embodying the above objects.
The CHAIRMAN said he would commence by putting
the resolutions respecting the Ilford and Tilbury line to
the meeting, and would then proceed with the others
seriatim.
Mr. Box said there was a difference of opinion as to
the probabilities of profit from the Southend traffic, but
he wished to know if they had not already a Bill for
the purpose now sought? Ile saw among the law ex-
penses an item of 9,629/. for Parliamentary expenses for
such a Bill.
The CHAIRMAN said that that item was a fruit of the
past struggles between the Eastern Counties and Black-
well Companies. It was probable Mr. Box might find
more items of a similar nature. The object of the
present proceeding was to avoid such ruinous struggles
in future.—(Hear, hear.)
Mr. Box said a statement was current that this line
was proposed because their chairman had property near
Southend. Ile wished to give Mr. Waddington au op-
portunity of contradicting it.
The CHAIRMAN—I have not a shilling's worth there.
Mr. Box then asked whether Southend Pier was not
the property of the Eastern Counties Company ?
The CHAIRMAN explained that in the course of their
works at Southend they found they were entrenching on
the grounds of the Pier Company. They had, there-
fore, bought the whole from the head landlords, the
Exchequer Loan Commissioners, and the property was
now paying 1,0004 a year.—(Hear, hear.) They had
paid for it 17,0004
Mr. M'LAREN said that it was proposed to create a
six per cent. stock for the purposes of the new line. He
wished to know who was to guarantee it.—(Hear, hear.)
He wished to know,. also, whether the contracts had
been publicly advert4ed. Ile thought that the best
plan would be to adjourn the vote for further con-
sideration.
The CHAIRMAN said that his object at present was
merely to take the cpinion of the shareholders as to the
propriety of taking the stock. No contracts had been
taken or offered, and it was perfectly optional whether
the Eastern Counties shareholders took any of the stock
or not.
Mr. M'LAREN said that they lost 10,0001. a year by
the North Woolwich and Thames Junction, and it was
the proprietors of that line that were the instigators of
the present.
The CHAIRMAN said that the proposed line would not
involve a shilling responsibility to the Eastern Counties
shareholders. They might or might not take the stock
as they thought fit. All they were positively asked to
do was to approve of the application to Parliament, and
to facilitate its progress.
After a long discussion, in which Mr. Sainsbury, Mr.
Helps, the Chairman, and Mr. Howes took part, the re-
solution was put and carried.
The CHAIRMAN then proposed a resolution to the
effect that the meeting approved of the proposed expen-
diture of 50,0001. on the branch lines specified in the
statement.
Mr. KNIGHT seconded the motion.
Mr. Box said he hoped that the works would be ad-
vertised, and not let by private agreement.
The CHAIRMAN said he quite approved of the principle
of advertising contracts, because he wanted to have them
executed as cheap as possible.
Mr. HELPS protested against the motion as being il-
legal, stating that it could not be discussed at that
meeting.
The SOLICITOR said they might discuss the question,
although they could not then legally pass the resolution.
Mr. Sergeant GASELEE agreed with his Learned
Friend Mr. Helps, and proceeded at some length to
oppose the motion amid hisses and expressions of dis-
approbation. He concluded by moving that " the meet-
ing do now adjourn."
Mr. HELPS seconded the amendment, which, on being
put to the meeting, was negatived by a large majority.
The CHAIRMAN said he had no wish to force resolu-
tions on the meeting, but he had come forward with them
in consequence of a pledge given to the shareholders on
a former occasion.—(Applause.)
The motion was then put and carried, as were also
resolutions approving of the outlay of 16,0001. on the
branch to the Wisbech river, the payment of 5 per cent.
interest on the 50,0001. to be expended by the Black-
wall Company on the station at Fenchurch-street; also
with regard to the applicatioias to Parliament for per-
mission to enter into agreements with the Newmarket
nd Chesterford and East Anglian Railway Companies.
In reply to questions,
The CHAIRMAN stated, that the working expenses on
the line had been considerably reduced. The locomo-
tive expenses were now at the rate of lid. per mile, as
compared with 16d. at the corresponding period of last
year. Up to the 16th of November, 1851, the expendi-
ture iu that department amounted to 45,0661., and the
number of miles run were 968,667, being at 11d. per
mile. At the corresponding period of last year the ex-
penses amounted to 59,7191., and the miles run to
874,817, being at the rate of 16d. per mile, showing an
increase in the mileage of 93,850 miles, and a reduction
in the expenditure of 14,7234—(Applause.) It was ex-
pected that the permanent way of the East Anglian line
could be maintained for 601. a mile per annum, and if
that and other things could be done there would be no
loss on the East Anglian agreement.
The proceedings concluded with a vote of thanks to
the chairman and directors.
(1

BIRMINGHAM, WOLVERHAMPTON, AND
STOUR VALLEY.

A long correspondence on the subject of the opening
of this line has taken place between the London and
North-Western Railway Company and the Shrewsbury
and Birmingham Railway Company. The first letter is
dated the 22d of November, 1861, and emanates from the
London and North-Western Company, stating that the
line was about to be opened, and that in order to prevent
any misunderstanding the directors wero advised that
the event had happened upon which it was provided by
the Stour Valley Act of 1847 that the special powers of
using the line given to the Shrewsbury and Birmingham
Company should cease, and the directors felt it their
duty to act upon that advice. In answer to this the
Shrewsbury and Birmingham Company on the
24th November gave notico through their soli-
citors of their intention to run ever the Stour
Valley line on the Ist of December, stating that
the directors did not consider that the company
had either relinquished or forfeited the right which
it obtained to use that railway; and that the question
could be decided in a court of law by consent of both