The Sun.
London, England, 1858-03-15 00:00:00

COUNT A ALEITSETS DESPATCH.

Her Majesty's Government has received a de-
spatch from the French Ambassador, sent to him
by Count Walewski, the French Minister for
Foreign affairs,in reply to a despatch forwarded to
the French Government by her Majesty's Secretary
of State for Foreign Affairs, in reply to Count
Walewski's despatch of the 20th of January.
This despatch is couched in very conciliatory
language.

ft commences by expressing "the satisfaction"
felt by the French Government that the new
Ministry, following in the steps of Lord Palmer-
ston, shows a willingness to cultivate cordial rela-
tions with France.

The despatch then expresses the regret felt by the
Imperial Government that the tenor of the de-
spatch of the 20th of January should have been
misinterpreted, and it appeals to the line of conduct
followed by the Emperor Napoleon 111. daring the
last six years as a proof of the impossibility that his
Majesty should have asked anything which it
would have been inconsistent with the honour of
England to grant.
The Imperial Government (says the despatch)
never meant to imply that England favoured the
men who elevate assassination to a doctrine, but
simply that such persons were allowed to dwell in
England.

The Emperor (continues the despatch) was not
induced to call the attention of the English Govern-
ment to the above fact through any fear for his own
life, but simply on account of the strong feeling
which the attempt of the 14th of January had ex-
cited in the population of France, and which was of
a nature to require that the Engliel' Qovernment
should he requested to take some stronger measures
as regards refugees. The roquest was made by the
Emperor in the interest of the allianes which exists
between the two countries.
The French Government withdraws from the con-
troversy, and declares that it makes no demands ;
it places implicit confidence in the good feeling of
the English people (il s'an rapporte a la loyaute cla
people A nglais.)
Both this despatch and that from Lord Malmes-
bury to Lord Cowley, to which that of Count
Walewski is an answer, will be laid upon the table
of both houses this evening.

RAILWAY INTELLIGENCE.

CALEDONIAN.

The half-yearly meetinz of this company WAS held on
Friday at Glasgow Mr. W. Johnstone in the chair. The
report, an abstract of which has appeared iu The Sun,
was held as read.

The CHAIRMAN, in moving the adoption of the re-
port, stated that it had been found that some of the
bridges along the line had been got up in such a tempo-
rary fashion that they we obliged to build new founda-
tions and arches. There were still some bridges to
attend to in this way, which would still further re-
duce the contingent fend. In regard to the revenue,
it bad considerably increased during the last half-year,
while the expenditure was considerably reduced,
enabling the directors to offer what they comidered
was a very fair dividend at such a time. (Cheers.)
Another ground for satisfaction was that, though they
had a large sum to borrow at Martinmas last, when
the rate of interest was so high, yet, notwithstanding
the stringency of the money-market three-fourths of that
was obtained at 41 per cent, for periods of three years, '
and the remainder at 44 ; the result being that the
average rate of interest on debentures had been reduced '
a few pence during the half-year. As to the Symington
and Bigor branch, described in the report, it would be
a goad feeder of the main fine, and encourage further
traffic in minerals and farm produce. As to the
Carlisle, Langholm, and Hawick line, which was
b dug opposed by the North British Company, he
hoped it would be sanctioned by Parliament.
He was glad to state that the arrangement between the
Caledonian, the Edinburgh and Glasgow, and Scottish
Central companies was going on satisfactorily. If the
agreement, however, did not continue to work well it
could be readjusted by the arbiter in September. The
branch to Granton from Edinburgh was going on well,
the contractor promising that it would be open for traffic
in eight months at the farthest. He was aware that a
good deal had been said on the capital account. They
all knew that prior to 1851 the affairs of the Caledonial
Railway were in a state of chaos, nobody knowing
what it was in a pecuniary point of view, while it
owed a sum of 400,000/. for plant, furnishings, kc.
Then the plant was not nearly adequate and the
line was in every respect incomplete—the traffic
in consequence being only 7,000/. a week, instead
of 13,0001., as at present. The state of matters was
this :—At Carlisle neither passengers nor goods stations
were completed, and new ones had to be made. At
Moffat a great number of workmen's and stationmasters'
houses required to be built instead of the wooden erec-
tions originally there. At Motherwell a bridge that
everybody was terrified to cross required to be super-
seded. A tunnel on the Wishaw and Coitness line
was in a most defective state. The Gartoosh branch
was only partly completed. At Glasgow the goods
station was not completed. At Edinburgh there were
only wooden houses and but few sidings on any
part of the line. The Clydesdale line then wa■
far from complete, there being a want of stations
at Hamilton and alone the line. Then, as to the
Ureenock line, an arrangement was entered into with
that company for the pnrchase of the line, but owing to
the financial position of the Caledonian Company they
refused to hand it over, and continued working the line
for a time in the cheapest way, letting the plant go
down, as it was not their interest to maintain it. That
line, moreover, was not suited at first for the additional
traffic exacted from it. The Barrhead Branch Company
acted in a similar spirit when the line was first taken
over, that railway, moreover, having scarcely a station
on it complete. With such defects the present directors
when they came into office found it absolutely necessary
to take steps to develop their resources, and accordingly
applied to Parliament in 1853 for an act authorising
them to raise 50,0001. In 1854 they again went to
Parliament, and proved to its satisfaction that further
borrowing powers were necessary, and accordingly they
got power to raise 500,0001. This sum they had been
content to expend, not all at once, but year by year as
they saw they needed it, thereby raising the income
and diminishing the working expenses of the company.
They were not done with spending this money yet.
A completed station in Buchanan-street was neces-
sary, and they were getting in plans for it—a similar
necessity existed at Edinburgh. It was impossible to
shut the capital account, a gradual and judicious ex-
penditure being far preferable to laying out all at once
—a course which would probably involve many errors
arising from inexperience. He then adverted to the
additions to-capital made during the last half-year.
For instance, Mr. Graham of Craigallion had received
11,000/. for land; 4,3001. on workmen's houses at Car-
stairs (the rent from these making the money laid out an
excellent investment) ; while sums had also been ex-
pended on new works at various stages along the line.
One result of the improvements was that, while in July,
1855, 4,2791. was paid for the use of plant, this half-year
the plant was so complete, that instead of paying they
got 5001. back. (Cheers.) Of the capital raised by Act
of Parliament they had still 300,0001, which they could
raise whenever it was required.

The Secretary then read the resolution approving the
report, and declared a dividend at the rate of 5 per cent.
per annum on the original stock of the company.
Mr. SALKELD seconded the resolution.
Mr. COLQUHOUN submitted, as an amendment, that
the words, " That the servants of the company be not
required to perform unnecessary work on Sabbath," be
added to the report.
Mr. N. STETENSON seconded the amendment.
A show of bands being taken the original motion was
carried by a large majority.
Toe other formal resolutions were passed unanimously,
and a vote of thanks having been given to the chairman
the proceedings terminated.