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

SEVERN VALLEY.

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

The notice convening the meeting having been read, ani
the common seal of the company affixed to the register,

The SEc RETARY 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 shareholders. 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directors had caused to be withdrawn a bill for extension of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•itiun from interested parties, in procuring an extension
of three years' time for the formation of the railway. The
directors had also exerted themselves to obtain laud upon
which the works might he commenced, and they were happy
to be enabled to state that the contractors were in possession
of lands near Bewdley, at Highly, Bridgnorth, and Brose-
ley, and that the works at all these places had been cum-
meneed.

Toe CHAIRMAN, in moving the adoption of the report,
observed that the company were now constructing a line of
railway which a short lime since every one thought would
never be completed. Since their hill, which had been very
bitterly opposed in both Houses of Parliament, bad passed,
time company had got possession of a considerable portion of
laud, and sere now practically proceeding to make the line,
and, as far as they had yet gone, they could see no reason
why it should not be finished at the cost o:•iginally fixed.
The shareholders were very n►uch indebted to their contrac-
tors, anti he was sure they would be well pleased at the pro-
spect of the line being open in about two years from that
titne. (Hear, hear.) He moved that the report just read
be adopted, printed, and circulatet'_ amongst the shareholders.
The tto ion having been seconded was unanimously
aeried to.

The CHAIRMAN then observed that it had been suggested
by those who took a large interest in the under taking that
some one of the directors should be entrusted to look after
all the details of the construction of the line, and be paid
an adequate sum for that purpose. He bad now to propose
,hat the number of the directors be inc:eased to seven, and
that a sum of £1,600 per annum he voted for the use of the
diieetor, during the construction of the line, with liberty to
itivit!e the same as that' thought proper.
Mr. W. HEED seconded the motion. He believed that
by appointing some one gentleman of experience, and who
could devote a large share of his attention ti detail., by
a tending to them day by day, would be the best means of
securing true economy and Complete c fliciency.
The motion was agr..ed to unanimously.
The CHAIRMAN next brought undrr the notice of the
meeting the fact that, by the original offer of time contrac-
tors, the line was to be only a one; but since then
they proposed to double tl.e earthwcrke, and make the line
a double one. The sharetn iders would have ti.e option, at
the end if this year, of either at:opting or declining this
aces ping the otter of
proposition.
~bl
hie (tie. He uas sure
r. FOWLER (engineer to the company) wicked to record
his
ttoomtnikm ee dtehsei bn iel int yd
oouf
the &lectors would be exercising a wise discretion in accent.
ing that tender.
thee°oPni turi:cntorass
(Hear, hear.)
The proceedings then terminated with the usual vote of
thanks to the chairman.