The Sun.
London, England, 1867-05-31 00:00:00

Mr. VILLEBOISNET said that the chairman had
stated nothing to induce them to raise money fqr
rolling stock. He wanted details as to the amount
of traffic at various stations on the line which they
were now unable to carry without additional rolling
stock. They should be first convinced as to the
amount of additional traffic before they sanctioned
any increase in the rolling stock. lie thought
shareholders were now too old to believe everything
they were told. (Laughter.) •
Mr. SMITII had a great objection to increase the
amount of the equipment mortgage bonds, or to
unsettle anything while the present nervous excite-
ment prevailed among shareholders in railway com-
panies. He moved an amendment to the effect that
the £1,200,000 of postal and military bonds be not
converted into the £720,000 equipment mortgage
bonds as proposed. •
The amendment having been seconded,
Mr. Moxox said he agreed with Mr. Smith that
the proposal of the directors would unsettle the
provisions of the Arrangements Act, and therefore
thought the further consideration of the matter
should be postponed until the next half-yearly
meeting.

A long discussion ensued, in which Mr. liankey
Mr. Conybeare, Mr. Isherwood, Mr. Tildes, M.P.,
Mr. Newmarsh, Mr. Barrow, Mr. Adams, and
Captain Tyler, took part. Objections were made
to the proposed measure, but no one appeared to
offer a better scheme. It was admitted that it
might be requisite to provide additional rolling
stock and other facilities for developing the traffic,
but it was not considered the right time to increase
the capital. The proposal for changing the name
of the company was objected to by several pro-
prietors.

The CIIAIaMAN, in reply to observations, said
that 30 of the largest stock and bondholders had
agreed to the proposal in conference with the di-
rectors. In the past five years the traffic had in-
creased 471 per cent.—viz., from £17,000 a week
to £26,000 a week, and, after the most careful
consideration by competent persons acquainted
with Canadian traffic, it was thought probable
that in the course of the next five years the gross
traffic receipts would increase to an average of
£32,000 a week ; but this could not be attained
without a considerable addition to the rolling stock
and other facilities. Ile had asked Captain Tyler
to accompany him to Canada next autumn, and
would be glad to have his opinion on the state of
the line and other matters to which the gallant
captain had referred at the last ordinary meeting of
the company.
The amendment of Mr. Smith was negatived,
and the original motion was carried, it being un-
derstood that the proposed change in the name of

the company would not be carried out, and that
opportunities would be given to the postal and
military bondholders, and to the first preference
bondholders, to see the proposed bill before send-
ing it to Canada.

Captain TYLER was unanimously requested by
the meeting to accompany the Chairman to Canada,
as proposed, to inspect 03 line, and the proceedings
terminate 1 with a vote of thanks to the chairman.

CALCL TTA AND SOUTH-EASTERN (LIMITED).
The ordinary general meeting of this company
was held yesterday at the office, Gresham-house,
Old Broad-street ; Mr. J. Borradaile in the chair.
The report, an abstract of which has appeared in
The Sun, was taken as read.
The CIIAIRAIAN, in moving the adoption of the
report, said he was sorry to say it contained a great
deal of the old story of not being able to meet
their working expenses out of the traffic. The
receipts had
gradually declined as he told them at
the last meeting he feared they would, so that for
the last half-year there had been a deficiency in the
receipts of £2,430. They had during that time to
depend chiefly on their local traffic. The loss of
part of the jetty by the landslip had been greatly
magnifid, so that ships were diverted from going to
the Alutlah under the belief that the company had
no landing place at Canning Town. They had,
however, a lauding-place there, by which they could
land any piece of goods or machinery weighing not
more than three tons at a time. But the accident
had so far affected their through traffic that he con-
sidered he had told them the worst. They had made
arrangements with local parties to lay down a short
line of rails, by which they expected to get ad-
ditional traffic. In addition to the loss of shipping,
the building operations that were being carried on
last year had ceased. The question as to who were
to keep the foreshore in order had been decided, and
he hoped in future that the Canning Company and
the railway company would work for the promotion
of their mutual interests. The Canning Company
had to pay a dividend upon their expenditure out
of rents.
The tramways and jetties would be con-
nected with the railway. A large rice-cleaning
mill bad been erected in the midst of the rice
district, and he trusted there would soon be an im-
provement in their receipts.
Mr. MARSIIMAN seconded the motion for the
adoption of the report.
A SHAREHOLDER thought the working expenses
might be considerably reduced, and although they
had run a less number of train miles the mainten-
ance of the permanent way had risen from £45 in
1865 to £5O per mile in 1866 ; the cost of locomo-
tive power had risen from £72 to £BO per mile, so
that with less work they had paid more money for
working. He hoped the directors would look into
that matter.
The CHAIRMAN said the cost of fuel had in-
creased, the repairs to carriages and engines were
more extensive, and with the extra renewal of
sleepers the expenses amounted to more than for
the corresponding half of 1865. The deficiency of
£2,430 in the traffic receipts to cover expenses in
the past half-year would have to be paid out of
future profits. He could assure them that the ex-
penditure was closely watched by the Government
officials.
Resolutions were passed adopting the report and
re-electing the retiring directors and auditors.

MADRAS.
The traffic receipts on the South-west line of this
company for the quarter ending the 31st of March
last amounted to £92,439, against £91,392 for the
corresponding three months of last year. On the
North-west line the receipts for the quarter were
£21,109, against £15,786, on 153 miles and 119
miles open respectively. The receipts on both lines
have been £113,548, against £107,178, showing an
increase of £6,370 on the quarter, with an increase
of 34 miles in the length of line worked over on the
North-west line.

SPIRIT OF THE PUBLIC JOURNALS.