The Sun.
London, England, 1856-08-28 00:00:00

THE SUN, LONDON; THURSDAY 'rEVEIIII4B-! AUGUST -2S; 1856;

LINFS LEASED AT FIXED RENTALS.

SOUTH-EASTERN RAILWAY.

LAW INTELLIGENCE.—(This Day.)

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HALF-YEARLY MEETING.-(THIS DAY.)

COURT OF BANKRUPTCY.
Mr. Commissioner Fane was the Commissioner of the
day, but there was no case in the list.

The fortieth half-yearly meeting of the shareholders
in this railway was held this afternoon, at the Bridge
House Hotel, London-bridge—the Hon. J. Byng,
chairman of the Board of Directors, in the chair.

- 101
,100 - 105

CITY SHERIFFS' COURT.
(Before Mr. Prendergast, Q.C.)
NEWSPAPER READERS-BARKER V. TAN SANDEY.

The report and statements of accounts, which have
already appeared in Me Sum, were taken as read.
The CLEAIBMAN, in moving the adoption of the report,
said that it would not require much explanation from
him, the directors having endeavoured in the principal
statements contained in it, to place before the share-
holders the working expenses of the railway and steam-
boats in such clear terms, as to furnish their own ex-
planation. The hon. gentleman then referred to the
passenger and goods traffic, which had consider-
ably increased in comparison with other half-
years, except that of 1855, which included three
months of the Paris Exhibition. The hon. gentleman
at some length referred to the financial state of the rail-
way, which was an echo of the report.
Mr. lIEREPATEJ, jun., wished to know if the charge
for renewal of way was an actual expense or an esti-
mated charge. He saw 15,000/. charged for that
purpose, and a similar slim with which they had bene-
fitted revenue. The fish-jointing account should have
been charged to revenue, and not to capital ; and he asked
on what principle it had been done ? The Strood and
Maidstone Branch had already cost 320,0001., and after
a further outlay of capital to complete it, and an outlay
for stations, rolling-stock, &c., together at least
75,0001. He doubted if this branch of 11 miles long would
be remnuerative because 62/. per mile must be taken to
make it to pay 5 per cent. He deprecated a line of rail-
way being made from Lewisham and Dartford, as in-
ferred in one of the paragraphs of the report.

12 - 14
39 -- 141
4 ... 46

The plaintiff in this action is a news agent in Throg-
morton-ltreet, and claimed 3/. ss. fir newspapers sold
and lent to read.

••• '""

ir = 29

The plaintiff's clerk proved an admission by the de-
fendant to the extent of 2/. but there was no
evidence that any additional papers bad been sold or
left for reading.

at. Frostr.
Yk. Now.
& Borw.
Y. &NZ
Do
Do

[6i : i.c9

His Honour said that he could only give judgment
for the amount admitted, but the plaintiff could take
oat another summons Ur the diff,rence, and bring the
boy who delivered the papers to make out the case.
This decision is important, as it was considered that
such a claim could not be divided. There were other
cases of a similar nature, and his Honour expressed
his opinion that a plaintiff could elect to abandon any
portion of his claim.

S. Eaeto:•l
IDo

12 - 131
23i - 244
113 - 116

Peto & Co

Norfolk ,
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L.tz N. W
tc Midld.
Stekton iic
Darline.
Midland..,

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95 97

En. Conn.
E. Count.
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58 - 60

Do

135 -140

GtNorthi.l
Lancash&
Yorksh.
T. Brasseyl
ISILMCIean
Stockt.
Darlingt
Do

8 - 8i
3 - 2yl

33 - 34
91 - 93

I(ltWestn.

The CHAIRMAN said the items with reference to the
permanent way were to a certain extent estimated, re-
venue having the benefit of the old materials. The
Strood and Maidstone line he believed would pay for
already, with the line unfinished it was returning 401.
per mile. The fi.h ointing expense was al ways charged
to oapital when there was no suspense account, and even
then it ultimately found its way to capital.

PREFERENCE SHARES.

' berdeen Deben.

Do. 6 per cent.
.)o. N 0.2, 7 p. 0.
tlythandTyno 10 pci
c. pref. (lard. at 501
trio. & Ex. 4 p. c. St,
)o. 4 p. c. Shares
laledonian £lO
`hes. & Ho. On. 5
,o. do. Pref. No. 2.
)o. do. Prof. No. 2..
fork &Bandonqp.e.
)un.Prth Aber.J.
Anglian Cls. ASh
)o. do. Cle. B 6 p. c.
)o. do Cis. C 7 p. c.
eo.Ex,spcNo,
)o. No. 2
)o. Now 6 p. 0. St
last lin., G. 6 p. c
Jo. 51., 10 per cent.
Do. 101. Dobentr.Sh.
Do. do. 4 per cent...
Sant Lanca+h. 6 p.ct,
York. J. sth,
Sdin. & Gl. 5 p.c. sh.
iild.Prth.&Dun.4p.e.
Furness.
41a3. & S.W. G. 5 p.c.
;reat Northn. 5 p. c
)o. 5 p. o. Redeem.
At 10 p. c. prom
4 !• p.c
)o. 5 p.c. Scrip, Red
At sp. c. pm... ..,

1.61 - 103
16 - 17

Mr. M'LAREN called a tention to the items in the
account, especially that of 11,812/. for compensation for
accidents. The expenses averaged 491 per cent., and with
the compensation 5] per cent. He objected to the change
made in presenting the accounts. Instead of giving
details of the different branches as formerly, they were
now lumped together. He complained of the increase
of capital that continually took place on this line, and
cautioned the directors against having such constant re-
course to their borrowing powers. (Hear.) The stores
account was a very important one, and should receive
the constant attention of the board, and he con•
sidered it should be given in detail with the other ac-
counts. On going over the line, he was much struck
with the name of Prior, coal merchant—a name well
known on the Eastern Counties (hear, hear), and he
asked if Messrs. Prior bad any privileges over other
dealers—if they paid the same rate per ton as any other
dealer? (Hear, hear.)

••• ''' •••

41- 5i
6 - 6A

1107 -- 112
100 -- 105
1
121 -13 i

... -~ ..

lo ::: J_

119 - )21

112 - 114
105 - 107

The CllAlRMA:,.T.—Precisely.
Mr. EBORALL said Messrs. Prior paid the same rates
as the public. (Hear, hear.)

4t.N. of Scot. let Pre
4t. S. &W. (Ireland
Do. 4per c. Pr:f. S
It. W.(l4.'sLH.Exspc
)(Leon. red. 4i p.c.
)4). con. red. 4 p. c
irred. 4p. C. .
Do. 5 p. c. red. pref
Do. Birm. Prof. S
Do. Chester 8 p. c.P.S
Do. do. 5 p. c. do
Do. Birm. Gina. Stk
Do. Ches. Gua. Sh
Do. do. do
Do. do. do
`An. &York. F. Et
Do. 6 p. c. Stock •
&Brigh. G. 5 p.n
Do. Pref., 5 p. c. S.
Do. New Gnar.6 p. c
Do. do. 5 per cent
Lon. &N. W., Coy.
Nuneaton 5 p. ct..
on. & S.W. 7 per ct
late 3d Shares ...
,ondy. & Color. iSh
Londy. & Ennis.
V.,5..& L. 6 p. Cent
Do. do. do. £6
Do. do. 3i per cent.
Aarypt .&Carl.4p o
Do. 4 per cent
Do. do.
Consol.6 p.c St
90, Con.Br.Pir. 6pc
Dv. 4i p. C. Pref.
Ditto L. & H. Pref. Si
New., Aber., &c., pr.
5 p. c. red. 5 p.c. pm.
Do. Perpet. 6 p ct.
with optn. till '66
IsTnrfolk Detwaturo
Do. Pref. 5 p. c. St, cl
Do. 5 p.c. Ext
Do. 5i per ct. pref
Do. Way. Val. 6 p. c
North British
N. E. Berw, 4 p.c. P
,Do. do. do
1)o Leeds 6 p.c ;No.l
Do. do. Quarters
Do.YorkTl.& S. Pnr
North Staffordshire..
',.W.1516 pc
Do R. Pref. 101. Sh.
Scot. Cent. ,New Prof
South Devon
Do, fixed,4i per cent
S. Eastern (Reading
Ann.) of .£1 Os. 6d.
Do. 4} per cent
Do. Fixed 4i p c eft
3. Wales Gua. 4 p. c
Do. do. 4i p. c....
S.Yorksh.4p.c.Guar.
Stook. & Dar., 5 p. c.
Do: do. do
Stock. & Ilartl. g. 6
p. c. till July 1, '56
Waterfl.& KiW.6pc

-
101 - 101

• •• """'

Mr. APLA.REN, in continuation, said he thought it a
foolish thing for the company to have a custom-house at
London-bridge where land was worth five guineas per
inch, but it would be very desirable to have one at
Folkestone.

6 6A
95 97
89 91
89 91
99 • 101
10 —10 k
171 —• 17i
101 -10 i
75 —77
20i 211
10 —10 a
15. 16
A
38 10

After some remarks from Mr. Fenton and Mr. Wil-
son against the expense of fish•jointing the rails, the
expense of which they considered would be greater than
the advantage,

The CHAIRMAN', in reply, said that the Board was
ready to furnish every particular, if required, of the
stock account, about which they were very particular.
He defended the conduct of the board in their expendi-
ture, and the manner in which the accounts were
presented must be an improvement on the old system,
or Mr. M'Laren could not have picked out so many
particulars connected with the expenditure of the
line. The directors excluded many details of a valuable
character to the public, but the shareholders on calling
at the offices might have any information they required.
Mr.IIEREPATH, sen., called attention to the large in-
crease of capital In the c)nstruction of building, &c.
The sums so spent should be charged to revenue.
The CHAIRMAN said it was necessary to provide for
the increasing traffic of the line, that these sums should
be expended, and it was fairly chargeable to capital.
Mr. Herepath then suggested some alterations in the
furnishing the accounts which would be useful to the
shareholders.

••

t. """ ..

159 --.161

125 - 128
-
65 - 68

. •• -- ...

136 - 138
101. - 103
91 - 93

11 - lip

After some further discussion against laying out
3,5001. for a joint station at Lewisham, at the junction
of the North and Mid Kent line,
The CHAIRMAN said it was not intended to propose
a specific resolution for, that expenditure. The adop-
tion of the report would be a sufficient authority.
The report was ultimately received and adopted, and
the dividend of 3/. 34. 4d. per annum was declared.
After some further unimportant business the meeting
terminated.

104 —lO6
97 99
1 i d

•• -- "•
i - id

-
'lOB - 110

15i -- 16

24i 25
1(X) 103
10 —10 e

27 -• 28
2 - 3p

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