The Sun.
London, England, 1858-08-10 00:00:00

SEVERN VALLEY.

The half-yearly meeting of shareholders in this company
lock place yesterday at their offices, Victoria-street, West-
roimter—Mr. J. Parson, deputy-chairman of the company,
in the chair.

The notice convening the meeting having been read, and
the common seal of the company affixed to the register,
The SECRETARY read the report, which stated that, in pur-
suance of a resolution of the shareholders on 26th February
last, the directors had accepted the tender of Sir M. Peto
and Messrs. Brassey and Betts for the construction cf the
line, and had since procured a formal contract to be executed
upon the terms already reported to the sharehoMers. In
pursuance of another resolution of the shareholders, the
directors had caused to be withdrawn a bill for extension of
time ; and they had succeeded, but not without considerable
oppo.ition from interested parties, in procuring an extension
of three years' time for the formation of the railway. The
directors had also exerted thetwelves to obtain land upon
which the works might be commenced, and they were happy
to be enabled to state that the contractors were in possession
ef lands near Bewdley. at Highly, Bridgnortb, and Brose-
ley, and that the works at all these places had been con-
reeee:ll.

CIINIRMAN, in moving the ndop'ion of the report,
obs!rvesl that the company were no,' nun- trac iTtg a lit.e of
railway which a A:l7'r time ,ince tyery one thought would
never he cotnpltetl. piece their bill, which hail been very
lii;ter:y opposed in both Houses of Parliament, hed passtd,
the company had got possession of a considerable portion of
laud, and were now practically proceeding to make the line,
and, es f 4. as they had yet gone, they could sce no reason
why it s'iould not he finished at the cost originally fixed.
The shareholders were very much indebted to their contrac-
tors, end he was sure they would be well pleased at the pro-
spect of the line being open in about two years from that
time. ( Hear, hear.) He moved that the report just read
be adopted, printed, aed circtilatee amongst the shareholders.
The tro'ion having been seconded was unanimously
agreed to.

._„
The CHAIRMAN then observed that it had been suggested
by those who took a large interest in the undertaking that
some one of the directors should be entrusted to look after
all the details of the construction of the line, and ha paid
an adequate sum for that purpose. He had now to propose
that the number of the directors be increased to seven, and
that a sum of L 1,600 per annum be voted for the use of the
directors during the construction of the line, with liberty to
divide the same as they thought proper.
Mr. W. REED eeconded the motion. He believed that
by appointing some one gentleman of experience, and who
could devote a large share of his attention t 4 details, by
a'tending to them day by day, would be the best means of
securing true economy And complete efficiency.
The motion was agreed to unanimously.
The CHAIRMAN next brought under the notice of the
meeting the fact that, by the original offer of the c.intrac-
tors, the line was to be only a single one; but since then
they proposed to double tt,e earthwork., and make the lind
a double one. The shareholders would have the option, at
the end of this year, of either-adopting or declining this
proposition.
-"Mr. FOWLER (engineer to the company) wished to record
his opinion as to the desirability r f accepting the offer of
the contractors to make the line a double one. He was sure
the directors would be exercising a wise discretion in accent-
ing that tender. (Hear, hear.)
The proceedings then terminated with the usual vote of
thanks to the chairman.

GEELONG AND MELBOURNE.
The adjourned meeting of shareholders was held yesterday
at the office of Messrs. Partridge and Co., Lancaster-place,
Strand—L,rd Alfred Churchill in the chair. The meeting,
it will be remembered, was aljourutd from the 19th ult. to
wait the event of advices expected to be received from
Australia by the coming mail.
The CHAIRMAN now stated that, since the last meetirg,
Mr. Cooke, the managing agent, and other gentlemen, had
prepared resolutions which it was hoped could have been
submitted to the meeting that day, but which it might be
dive:iler e
to tinl
eo we
fitoctptohs postpone fora fomraail
arty
ndgay sb.reuTghiej t es
were
of the sale if the line to the colonial Government, it vas the
opinion of the meeting that a duly qualified agent should
prcceed to Melbourne for.hwith to negotiate the settlement
t,f the questicoi—that the manager should take with him a
draft agie.ment, signed by the shareholders and bondholders,
and that the mAting be again adjourned for a few days in
the hope of receiving advfres from the colony. These
were the resolutions which it was intended to propose, but
he regretted very much that the June mail, which had
arrived, had brought a letter to Mr. Cooke, the general
mana3er, ing that the G,vernment were not able to ac-
cede to the terns, although it did not go the length of say-
ing that the line would not be purchased at all. It ap-
peared that the member of the Government whose province
iescsteohf
ewneanssra,cees
consequence
iredeynahlctai taernieini,tedhxbtetthorteset
they
ssitee:jodymei
caawt v
itowt
.sidiawntiaehnosnat
etabeyance.srta
aiGovernment
seriouslytetade it
hlel
mwahmense
vdiogentrhhwtabpthe,ui
Colonialecirnnh-
aos
es ao.f
hThey r
vs teartleyd
uuwlrleohdtld not be indisposed to bowri
it
thewer 'optilte:agvteirtn,heathipa)irtliletethoestaiGuotouhvldoerrinbse-e
deter mined by a committee of butthhe House of Assembly, which
no doubt would be based upon a report as to the condition