The Sun.
London, England, 1867-09-27 00:00:00

EAST GLOCESTERSIIIRE.

The report of the directors states that the com-
pany's new Act, 1867, extended the time allowed
by the original act for the purchase of lands (with
the exception of two cases, in which the notice must
be given within twelve months) until October 1,
1869, and for the completion of works, including
the works and deviations authorised by the Act of
1866, until October 1, 1871. It also empowered
the company, subject to the rights of the Midland
Company, to enter into working and traffic arrange-
ments with the Great Western Company, thus
restoring the latter company to the position with
respect to the company's undertaking which it was
originally intended that it should hold, the agree-
ment entered into with the Midland Company being
at the same time fully preserved. The directors
having regard to the difficulties which appeared to
exist in bringing about such an arrangement be-
tween the Midland and Great Western Companies
as would provide for the completion of the under-
taking at any reasonably early date, the directors
thought it expedient to consider whether some
arrangement might be made which would admit of
proceeding with the line in sections. Sufficient time
had not elapsed for this purpose since the passing
of the new act, but the directors were still in com-
munication with the two companies and the con-
tractor. In co„s^quenee of many of the share-
holders not having paid up either their first
or second calls, after repeated applica' ions made to
them, the directors were compelled with great
reluctance to take proceedings at law against
those in arrear, and verdicts were obtained in
favour of the company, subject to the discussion of
two points of law which were reserved for argument
next term. The capital accounts showed that
£41,565 had been received, of which £20,282 had been
expended in obtaining Parliamentary powers, and
£16,792 in the purchase of lands, £560 on account
of construction of works, awl £415 secretary's
salary, leaving a balance at the bankers of £716,
and interest on deposit with accountant-general
£2,800.

THE SUN, LO.NoOS, FRIDAY EVENING, SEPTEMBER 27, 1867.

£l5 each granted at the last half-yearly meeting to
Mr. J. Frost and Mr. Peckitt be increased to £2O.
He was glad that the funds of the association
enabled them to make this increased grant. The
report alluded to the satisfactory diminution of the
death rates, but it must also be borne in mind that
the money they bad bad to deal with had been less.
This resolution, which was seconded by Mr.
Dott, was also carried unanimously.
Mr. GODFREY, in moving a vote of thanks to the
chairman, expressed the pleasure he felt at the pro-
gress of the association, and believed that at some
future period this society would rival the Benevo-
lent Railway Society. They were in no way anta-
gonistic to that society, but were only too happy
to work with them if they would join them. All
they wanted was reciprocity of feeling, and had no
objection to amalgamate with that association, on
the terms of maintaining their independence. It
was their duty to do all they could to provide for
one another. A great many men might provide
for one, when one in their position could not pro-
vide for himself. He cordially thanked his lordship
for taking the chair on the present occasion, and
hoped that he would long live to give them his pa-
tronage. (Cheers.)
Mr. SAVILLE seconded the motion.
The CHAIRMAN, in returning thanks, said that he
was quite of opinion that there was room for both
societies, and hoped both would prosper. (Cheers.)
The proceedings then terminated.