The Sun.
London, England, 1858-11-18 00:00:00

_

PRICE 4D. STAMPED, SD.

protect the native iron-master, the State
must make an exception in its own favour
by using English iron, or sacrifice so far the
efficiency of the navy. Meanwhile protection
has been utterly unable to sustain prices. While
secure from all competition French iron
experienced the same vicissitudes ass ours, of course
with no Protection, did. As if, however, to show
that protection has nothing to do with the matter,
French iron has just fallen considerably, in the face
of a relapse into Protection obtained by the iron-
masters themselves. They repiesentei that it was
impossible to make iron at the low prices lately
prevailing, and that the evil was caused by the free
importation of iron to be manufactured for exporta-
tion. They carried their point; and now find that
without any unusual importation for this purpose
prices have fallen, and iron, if made, must now be
made on still lower terms. In this country we
are accustomed to such vicissitudes. They come,
and the sufferers lament that they had not the
sense to see them coming. But they have no Em-
peror, no Protection to run to ; they know it is vain
to expect laws in their special favour they quietly
accept the warning to do their work still better,
and conduct their business more prudently.— Times.

RAILWAY INTELLIGENCE.

WEST LONDON.

A special general meeting of this company was
held yesterday, at the London Tavern, to consider
the propriety of making application to Parliament
in the ensuing session for an act to extend the Ken-
sington Canal branch across the Thames to the
London and South-Western Railway, and also for
power to sell the Kensington Canal-=-Mr, S. Bird
in the chair.

Mr. TURQUAND, the secretary, read the notice
convening the meeting, and a circular that had been
sent to the proprietors, stating that the committee
of shareholders had submitted to the directors of
the company a plan for converting the Kensington
Canal into a railway, which would connect the
West London Railway with the railways on the
southern side of the Thames, and had requested the
directors to take the necessary preliminary steps
for laying the same before Parliament during the
ensuing session. To effect this object it was im-
perative that the plans should be deposited with
Parliament by the 30th inst. The directors having
regard to the strong representations made to them
by the committee of shareholders, and feeling also
that such a disposition of the property of the com-
pany must materially enhance its value, had in-
structed the solicitor to prepare for depositing the
plans.

The CHAIRMAN stated that the engineer had
suggested an alteration in the notice which would
have been too late for insertion, and therefore a
supplemental notice was given.
Mr. J. WHITEHEAD then entered into an expla-
nation showing the advantages that would arise to
the company from the proposed undertaking. He
had proposed the sale of the canal, but that was
objected to by the committee, and he must say
they had shown great vigour and devotion to the
interests of the company. If something was not
done, there was but little chance of the second-
class shareholders getting anything, and as to the
original shareholders they would get nothing. There
were several schemes for extending the West London
line.. The West-end and Crystal Palace scheme
intended to occupy their canal, and were, therefore,
considered friendly. The North and South Metro-
politan Junction scheme avoided the Kensington
Canal, and therefore must be considered as unfriendly
The Great Western scheme also avoided their
canal. If the shareholders of the West London
continued supine, their property would pass into
the hands of other companies, but if they exerted
themselves their property would not only be pre-
served, but raised considerably in value. No line,
from its position, offered greater advantages ; it
would join the London and North-Western and
the Great Western Railways with all the railways
at the south side of the Thames, the South-Eastern,
the Brighton, the South-Western, and the Crystal
Palace Railway. Kensington was a very populous
district, and it would therefore leave a large local
traffic as well as a through traffic. Looking at the
receipts on other lineam the metropolis somewhat
similarly situated, he was of opinion that when the
proposed extension was carried out they would re-
ceive 10 per cent. on their outlay. The coal-
owners in the north were prepared to send a large
quantity of coals over the line to southern districts
sufficient to justify the proposed undertaking. The
London and North-Western and Great Western
Companies would go forward with their schemes if
the West London Company did nothing ; but he
hoped they would go vigorously forward and secure
their Bill. Their true policy was to go forward.
He (Mr. Whitehead) held first and second class
shares only in the West London—he had not one
old share. He would therefore not stand in the
way to prevent them making their property a sure
one for the sake of any dividend they could
now pay. At present there was no chance
of getting back one farthing of their money ;
but by carrying out the new project, instead of
being represented as " Punch's line," it would in
reality become the grand junction line of the king-
dom. He concluded by moving- a formal resolu-
tion, adopting and confirming the steps taken; and
being taken, by the directors, authorising them, in
conjunction with the committee, to take all neces-
sary steps for carrying out the undertaking men-
tioned in the Parliamentary notice, or such por-
tions thereof as the directors and committee might
deem necessary, and to defray the expenses in re-
lation thereto out of the funds of the company.
Mr. Alderman CUBITT had great pleasure in
seconding the motion. At present their property
was of no value to them, neither was it of any value
to the traffic of the kingdom ; but by extending it
as proposed they would unite the network of
.rail-
ways on the north of the Thames with the network
on the south of the Thames, and consequently ob•
twin a very large traffic. The facilities for traffic
would be greatly improved by its construction, and
passengers would be conveyed from north to south
by it expeditiously, instead of in cabs, as at pre-
sent. He thought they would be considered as
having a prior claim on Parliament for an Exten-
sion Act, and he need not say that if they got it
there could be no doubt it would be of great value
and importance to them. They would then be in a
good position and able to deal with any proposition
that might be made to them in respect of their pro-
perty ; otherwise their property would be valued
according to its antecedents, instead of in respect to
its future prospects.
Mr. HAItTRIDGE understood that there were at
present nine schemes afloat for:crossing the Thames,
and some of them would no doubt appear before
Parliament. Their extension was not anew scheme;
it had been contemplated by the original promoters
of the line, but circumstances had prevented the
project from being carried out. The traffic on the
Greenwich line was at the rate of £11,500 per mile
per annum ; that of the London and Blackwall,
£15,000 per mile ; and of the North London Rail-
way, £lB,OOO per mile per annum. There was,
therefore, no doubt the traffic would be ample to
compensate them for their outlay. He was happy
to say that the directors and the committee had
acted together unanimously in this matter.
After some observations by other shareholders in
' favour of the proposed undertaking, which it ias
stated would not only be remunerative to the share-
holders, but very useful to the public,
Mr. HADDON expressed a belief that the
sion line would increase the goods thantraffic it was at
on
nttehne
canal to an amount 20 times greater
present, and if so it would yield £6,000 a year, and
his money would get
2eNO-esr.3l,notnietemp-loionnhda.d invested
The resolution was then put, and carried unani-
mously.
On the motion of Mr. LOVELESS, seconded by Mr.
WHITEHEAD, a resolution was unanimously passed
appointing Messrs., Cobb, Hartridge, Huggins,
Scott, and Gordon Thompson a committee for the
purpose of the foregoing resolution.
A vote of thanks to the chairman concluded the
proceedings.