The Sun.
London, England, 1858-02-12 00:00:00

LONDON AND SOUTH-WESTERN
RAILWAY.

MEETING THIS DAY.

- -
Tha half-yearly general meeting of the proprietors of
this company was held at the Company's offices, Water-
loo-bridge Station—Mr. W. J. Chaplain, chairman of
the board, i❑ the chair.

The report has been already published in Tire Suit.
The accounts show that "the net revenue for the half-
year, after deducting interest on loans, and all other
preferential charges, amounts to 194,754/. 15e. 10d. ;
add surplus at June, 1857, 8751 6s. 7d. ; balance avail-
able for dividend, 195,630/. 2s. sd. From this sum the
directors propose that a dividend shall be declared for
the half-year, payable on the 20th Feb., at the rate of
54 per cent. per annum, which, on 7,176,9691. 16s. 6d.
of paid-up capital, amounts to 188,3951 94 id. ; balance
carried forward to the current hall-year, 7,2341. 13s. 4d.
There has been a decrease in the gross revenue for the
half-year of 42,296/. in comparison with the correspond-
ing period in 1856. There has been a diminution of
2,317/. in the working expenses."
The SECRETARY having read the notice convening
the meeting, the minutes of the last meeting were read
and confirmed.
The CHAIRUAN, in proposing the reception and
adoption of the report, said that in the absence of any
novelty in the course of the past half year, he should
only have to occupy their attention for a short time.
The report fully informed the meeting what had been
done, and gave a correct account of the present positioa
and future prospevity of the line. It was satisfactory to
know that the traffic of 1857 had exceeded that of 1855,
arising from the opening of the line from Basingstoke to
Andover and Salisbury, though, unfortunately, at an
extra expense. As he anticipated on a former occasion,
they had had the lion's sharp of the troops from the
Crimea pass over the line. The hon. gentleman the*
entered into the proposed schemes in completion to certain
parts of the line mentioned in the report, and expressed his
regret that they bad been unable to make terms witk
the Brighton Company for the reception of the West-end
traffic on the waste spot of land near the Waterloo-
station. That company bad thought it better to take
the traffic to Battersea-bridge, and on up the Gros-
vernor-canal. He was happy to state that the amicable
relations continued between this company, and the
Brighton Company, and the Great Western Company.
Such, however, was not the case with the South-
Eastern Company, who interfered with them at Guild-
ford and other places, and he was afraid there was no
chance of their being able to compete with them as to
fares. He had nothing further to remark on in reference
to the line, but he begged to withdraw an expression
that dropped from him in the heat of debate on &former
occasion. (Hear, hear.) He moved the reception, &0.,
of the report.

Mr. ASUBURY seconded the motion.
In reply to Mr HELPS,
. _

The CHAIRMAN said that the directors had the power
of converting their borrowed capital into 4 per cent.
stock or shares, but as yet it had only been done to the
extent of 3,8001. The company were borrowing money
now at 4i per cent., and he was in hopes shortly more of
the old borrowed money would be so converted.
Mr. HELPS suggested that the cash balance in the
hands of the bankers should be published in the accounts.
The CHAIRMAN said it was not desirable.
Mr. HEREPATH said that if the balance was the other
side it would be injurious to the company to publish it.
He asked for the particulars of 8,0001. charged for the
main line. He had hoped the expenditure had ceased
on the main line.

The CHAIRM.,±..N said it arose in reference to stations,
cottages, Ste., for labour.

111 r. ItERRI'ATLI said he saw 80,0001. entered in the
accounts relative to the extension line to Exeter and of
the contracts that were taken be tender.
The CHAIRMAN said it was, and that the contractor
was Mr. Taylor. He tendered with others, and it was
accepted as being advantageous to the company.
Mr. ERRINGTON (engineer) said Mr. Taylor's contract
was selected out of 17. It was upwards of 37,0001.
below the others.

In reply to a question from Mr. HEEEPITH,
The CHAIRMAN said the company knew nothing of an
amalgamation of the Wimbleton and Ltatherhead and
other small lines in that neighbourhood. H• was not
aware of an application to Parliament for such a put.
pos3.

Mr. HEREPATH said he was glad to find they were on
friendly terms with the Brighto❑ Company, because it
was stated otherwise out of doors.
The CHAIRMAN said Mr. Herepath was often better
informed on points than directors. (Laughter.)
Mr. HEREPATH said he was informed that the Brighten
Company believed that this company was at the bottom
or friendly to Mr. Loclie's line from Horsham to Shore•
ham.

The CHAIRMAN said this.. company had nothing to do
with that li❑e, directly or indirectly. (Hear, hear.)
Mr. HEREPATH—I can't accept that statement. 01
was glad to hear they were friendly with the Great
Western Railway ; a short time ago they were anything
but friendly.
The CHAIRMAN said what he meant by friendly was
that where they came to the same towns the traffic was
carried on honourably on equal terms. (Hear.)
Mr. HUDSON asked for an explanation of 9,0001. for
" Marshalling trains"at Vauxhall. Hs always thought
the "City Marshal" an extensive thing, but this wag
more so. (Laughter.)
The CuAznhcazr eirplained that the arranging of the
trains at Vauxhall was done by eng:ne• of hnniels
and
~the engineer considered he had a right to °barge
the wear, &c., of the engine.
After some farther discussion the report was received
and adopted.

A discussion sprang up relative to smoking on the
line, and it was suggested that a smoking carriage
should be attached to the trains. Complaint was also
made of tke state of the second-class carriages, and of
the want of third-class carriages in connection with the
suburban traffic.

The CHAIRMAN said that the directors had under
consideration a schbine for the better arrangement of the
suburban traffic.

The dividend was then declared, and the retiring
directors and auditors having been re-elected the meeting
terminated.

LA W INTELLIGENCE—Feb. 11.

VICE-CHANCELLORS' COURT.
(Before Tice-Chancellor Kindereley.)
UNIT V. CHAPLIN.
This was a suit for specific performance of a contract
for the purchase by the plaintiff from the defendant, of
.one houses, and for an injunction to restrain an action
at law for recovery cf the purchase money, entered
for trial on 13th inst. The only question between
the parties was whether a vendor is bound to attend
personally at the completion of the purchase aid per.
sonally receive the purchase money ; and to raise witiok
question the purchaser had pleaded to the action that
the vendor was not ready and willing to perform the
contract. Mach extraneous matter was introduced late
the case both by the counsel for the plaiatid
and by the judge himself, which we purposely omit.
The Vice-Chancellor, in giving judgment, said—l sin
not satisfied that the question can be tried at law—a
court of equity, and not of law, is the proper forum.
The purchaser has a right to say—l will have the con-
veyance attested by my own solicitor, though the
practice is the other way. He also has a right
to pay his money to the vender personally,
it is the simple and natural right and requires no case
or authority to support it, but authority is required the
other way ; even in a payment under a power of attor•
ney or written authority, and more especially a verbal
one, there is risk ; if the vendor die and his executors
find no account of the money, they may bring
their action for it, and the purchaser will then
have to prove the authority to pay to the attorney. If, e
power of attorney compelled a debtor to pay to a credi-
tor, then the attorney would have aright of action him•
self in his own name. A debtor has a right to say—l
will pay to my creditor, and to no one else ; I want
authority to show me that that which is the common Mle
of nature is not the case. The law is plain, sub.
ject to what may exist in special cases. A creditor Jul
no right to insist that the money shall be pain to ku
attorney or any one else. The action must be restrained.