The Sun.
London, England, 1867-07-05 00:00:00

immense extent of London and its suburbs, their
line being the best to the Continent, and the
Brighton the best for the districts and towns served
by it, he thought there was a great future for both
companies. He wanted to put an end to further
capital expenditure, and to close their capital ac-
counts as soon as possible. If they approved the
agreement, the solicitor would carefully embody it
in a bill, and when it came before them at the
Wharnclife meeting, they would have every oppor-
tunity afforded them to reconsider the whole matter.
Ho would propose that the joint committee should
pay cash for all the materials they required, that
week by week sums to cover the interest on deben-
tures should be placed in the bank, and also to cover
dividends for preference shareholders, placing the
balance to the credit of the ordinary shareholders.
(Hear.) In conclusion, he stated that they ought
all to feel grateful to Parliament for putting a stop
to the creation of pre-preference shares, recently at-
tempted by the London, Chatham, and Dover, and
the Great Eastern Company. He hoped there would
be no more tampering with pre-preferences. lie had
advised the Chatham Company to sell their plant
and rolling stock, pay their debts out of the pro-
ceeds, and make an arrangement with them for
working the traffic. The Chatham and Dover Com-
pany were now taking £300,000 a year out of the
traffic of the South-Eastern district. They would
get some of that back. During seven years they
had borne the loss of £300,000 a year, yet the elas-
ticity and vitality of their traffic had been so great
that their traffic receipts had shown an increase
every year. When they could all work in peace
he believed they would get better dividends. (Hear,
hear.) He then moved a formal resolution approv-
ing the agreement with the London, Brighton, and
South Coast Company, authorising the directors to
affix the company's seal thereto.
Mr. BF.ATTIE, a director, seconded the motion.
A discussion ensued, in which Messrs. G. Smith,
Wright, Puncher, Teuton, and Adams took part,
the general opinion being in favour of the agree-
ment. The motion approving the agreement was
carried almost unanimously, there being only two
dissentients, and the proeacdings concluded with a
vote of thanks to the chairman and directors.

LONDON, BRIGHTON, AND SOUTH COAST.
Mr. S. Laing, M.P., has issued a circular to the
shareholders of this company, in which ho states
that, having consented to become chairman of the
Brighton Company in the hope of saving it from its
present embarrassments, he is satisfied that an
amalgamation with the South Eastern Company is
the first step to place both properties on a sound
footing. He is further satisfied that the agreement
is perfectly fair on both sides and mutually advan-
tageous; and, as it is of great importance with re-
ference to the application to Parliament that it
should be adopted by large majorities of the share-
holders, he earnestly requests them to attend the
meeting to be held on Friday, the 12th inst., at the
r Bridge-house Hotel, and, if they are unable to
attend, to send their proxies in favour of himself or
Sir C. Jackson.