The Sun.
London, England, 1860-02-16 00:00:00

SEVERN VALLEY.

The half-yearly meeting of. this company was
held yesterday at the offices, Victoria-street, :West-
minster, Col. J. C. W. Forester, M.P. in the chair.
Mr. C. E. REED, the secretary, -read the report,
which stated that the progress made by the con-
tractors with the works was satisfactory, and the
directors expressed a belief that the line would be
opened in the summer of 1861. During the autumn
of last year the Oxford, Worcester, and Wolver-
hampton Railway Company suggested the propriety
of an arrangement with this company of a more en-
during nature than that now existing, and in conse-
quence the directors consented to the introduction into
Parliament of a bill to carry out that object. The
directors bad now under consideration an offer
from the Oxford, Worcester, and Wolverhampton
Company for that purpose. In 1859 certain gentle-
men connected with Tenhury carried successfully
through Parliament a bill for the cbnstruction of a
railway from the Wofferton station of the Shrews-
bury and Hereford Railway to Tenbury, and the
line thus sanctioned was now being constructed.
The same parties, aided by gentltmen resident be-
tween Bewdley and Tenbury, had this year sub-
mitted to Parliament a bill for a railway from the
Tenbury station to the Severn Valley Company's
line near Bewdley. The subscription to this new
undertaking was very considerable, and was taken
almost entirely by the residents in the district. The
option of dividing the Company's shares into A's
and B's, which the proprietors sanctioned at their
last ordinary meeting, had not been generally ac-
cepted. The number of shares divided was 1,233
only. It was possible that this option might still
be desired by others of the proprietary, and the di-
rectors therefore suggested that the period within
which the option might be exercised should be ex-
tended. The report of Mr. J. Fowler, the engineer,
stated that the contractors were in possession of
land for upwards of 34 miles in length of the line,
and notwithstanding the long continuance of wet
weather, which had caused numerous slips of the
ground and otherwise retarded the works, no time
had been lost which could be avoided. The heaviest
works being between Hartlebury and Bridgenorth,
incessant efforts had been made to urge them for-
ward as fast as possible, and upwards of 9 miles
were already formei for the permanent way. Be-
tween Bridgenorth and Shrewsbury the earthworks
were of a lighter character ; but the larger cuttings
had been proceeded with,and considerable progress
had been made. The permanent way was laid and
ballasted for five miles, and large quantities of rails,
sleepers, and fastenings were on the ground or in
course of delivery. The Much Wenlock line would
be proceeded with, so as to be opened simultane-
ou-ly with the company's main line to Shrewsbury.
The capital account to the 31st December showed
that £229,225 had been received, and £226,223 ex-
pended, leaving a balance of £3,002.
The CH tIRMAN having moved the adoption of
the rt.pert,
Sir 'l'. WINNINGTON, M.P., said the shareholders
at the other end of the line were anxious to knew
the object of the Amal;limation Bill. They were
all in the dark as to the terms the Oxford, Wor-
cester, and Wolverhampton Company proposed to
give them for the lease of their line. Some of the
shareholders thought they should try the working
arrangement first before leasing the line.
Mr. J. PARSON, a director, stated that negotia-
tions between the two companies were now pending
respecting the new terms. The existing arrange-
meat
ment was; that the Oxford Company worn to ivoviC