The Sun.
London, England, 1858-06-04 00:00:00

Three-quarters of a mile.

Age st lb
Orianda 4 6 13
Litt►e C .... 4 613
Schismatic......... 3 6 11
Humbug
ftio 4 6 8
Greenwich Fair
C',antrass
Dart filly
Jack Horner 3 5 13
Media Noce
Lass of Richmond
Hill
,kingham Stakes.
Age st lb
Hydromel
Chantress
Admiralty
Neva ' 4 6 2
V►ow 3 4 12

RAILWAY INTELLIGENCE.

LONDON, BRIGHTON, AND SOUTH COAST.
A special meeting of s',areholders was held yes-
terday, at the Bridge-house Hegel, Southwark, Mr.
L. Schuster, chairman of the board, presiding, for
the purpose of considering the following bills, now
pending in Parliament, and agreeing to such reso-
lutions and such bills respectively as the meeting
might deem expedient, namely :-1. A bill to con-
fer on the London, Brighton, and South Coast
Railway Comp any furt her powers for raising money,
and to authorise the purchase and lease by them of
the under takings of cortain other rail way companies.
2. A bill to enable the London, Brighton, and
South Coast Railway Company to complete the
communication by railway between Shoreham,
Henfield, and the Mid-Sussex Railway, and for
other purposes connected with their undertaking.
3. A bill to authorise the construction of a station
near Victoria-street, Pimlico, in the county of
Mi ldlesex, and a railway to connect the same with
the West London and Crystal Palace Railway at
Battersea, in the county of Surrey, in order to
afford improved communication between certain of
the railways south of the Thames and the western
districts of the metropolis, and for other purposes.
4. A bill for enabling the Battersea-park Commis-
sioners to sell, and the West-end of London and
Crystal Palace Railway Company to purchase pieces
of land, situate near the south end of the new
bridge, leading from Chelsea to Battersea-park ;
for authorising traffic arrangements between the
said company and the South-Eastern, Mid-Kent
(Bromley to Saint Mary Cray), and East Kent
Railway Companies ; for lease of undertaking to
the London, Brighton, and South Coast Railway
Company ; for extending the time for completing
extension to Farnborough, and for other purposes.
The CHAIRMAN said he had very little to com-
municate on any of the bills, as they all related
to subjects which had frequently come before the
shareholders on previous occasions ; but a further
sanction was now necessary by the standing orders
of the House of Lords. He should, therefore, call
on the solicitor to the company to reed in succes-
sion the marginal notes of the several bills referred
to in the advertisement convening the meeting.
The marginal notes of Bill No. 1 having been ac-
cordingly read,
The CHAIRMAN moved that the sanction of the
meeting should be given to that bill, which gave
them power to raise 200,0001. and purchase the
East Grinstead Railway.
Mr. SCOTT, deputy chairman, seconded the mo-
tion, which was carried neni. con.
The CHAIRMAN then moved a similar resolution_
'With regard to the second bill, which was intended
to supply in the- best possible way all the railway
requirements of the places.lying between Shoreham,
Henfield, and the Mid-Sussex Rail way. There
bed been a rival scheme, in opposition to which
they (the Brighton) had had a twelve days' contest
in the House of Commons resulting in a report
from the committee in their favour.
Mr. Scorr seconded the motion.
The marginal notes of this bill having also lateen
reld,
Mr. FLOOD said he thought the motion involved
a great question of public policy, viz., whether
Parliament ought to sanction competing railways
—a principle which on a former occasion had been
repudiated by Parliament, so far as railway cemmu-
nication between Brighton and the metropolis was
concerned. No one could think that any advantage
could result from the line to Shoreham, or any one
of the twenty rival lines which had been passed dur-
ing the present session, except to take money from
the pockets of one set of shareholders to put it into
the popkets of another set ; and he hoped, there-
fore, the shareholders of that company would set
their faces deciuedly against that principle on every
occasion. It was very well to call such
free trade, but it was a sort of free trade which
ought to be vigorously denounced. competition
The CHAIRMAN said the question had in reality
nothing to do with free trade, because, whenever
an appeal was made to Parliament to sanction a
new railway undertaking, the assent of Parliament
was always accompanied by rigorous restrictions.
(Hear, hear.)
A SHAREHOLDER said the question comprised
itself within a very narrow compass, viz., whether
the money they were about to spend would con-
tinue the monopoly which they enjoyed of the
London and Brighton traffic, the only object which
they ought to regard.
The CHAIRMAN said Parliament prevented them
from having a monopoly in tying down their hands
by regulating what they were to charge ; but the
bill was one which would protect their interests.
(Hear, hear.) That they would, of course, always
endeavour to do ; but it was quite a fallacy to say
that any railway in this country had a monopoly
while its tariff was regulated by Parliament.
Smile further discussion took place upon the
question of " monopoly," the course of which made
it apparent that the shareholders, Vatetber or not
they agreed with regard to the application of the
word itself, were of one opinion in wishing to pre-
vent any other company from sharing
of the Brighton traffic.
In reply to a question, in the prufi is
The CHAIRMAN expreesed his opinion that the
line would be a renignerative one.
, Mr. FLOOD said there was a distinct threat in the

[ P Kuo 4J. S ANTED 511 .j

report of the Parliamentary committee, that un-
less this line was made there would be a rival line -0
Brighton. (He3r )
The motion was thou agre.,d to. .
The CHAIRMAN then moved the sanction of the
Treetmg to tn, bill f r c nstruoting a stalion near
Viottnia-stre,t, ttc., an undor taking which Ale sad
bad met with unanimous :Approval in all • quarters,
and especially among members of Parliatheut.
1 Mr. SCOTT seconded the motion.

In reply to a question,
Tee CHAIRMAN said the Victoria station, and a
new line, 1 mile long, with a bridge over the
Thames, would be carried out by a thoroughly in-
dependent company ; but that (Brighton) line
mould have a preferential claim upon the traffic,
and the management of the portion communicating
with them. The Victoria Company would also give
them land for a station. With regard to the new
line itself, he believed it would, by ga'hering up a
local population, pay the wholecost of its execution.
The motion was then adopted, and
The CIIA.TRMAN proceeded to move the sanction
of the meeting to the f rurth b 11, the only power
which. affected that company being a perm issive
one, for the Br;ght,.n Comp Any to lease lines- be-
longing to the Crystal Palace Railway 0, mpany.
Mr. SCOTT sec nded the motion, which was
adonted without discuAsion._ • _ _ _ _

The meting was tt,e,l made spec'al, f r the pur-
pose of authorising the dir otors to ,ait•ta additional
ctp;til, exceiT'cliog 100,0410/., by the creatti n of
new ,119.• ea or s'Ook, or tiyborrowing; or lirdt+rn
tur?, soek, socO stock ?-,r sliares to 1T• i=eu-d n
such toms ao:',.at soei, tim -s, in such m=nt ra? d
arrwitnt, auo lo str.h eting
dete, and to pas suon res,duious tin.r,.:on Ls
such meetinu may deem advisa,'.le.6
The CHAIRMAN, in subtnitd•,:g a resolutio, to
carry out this object, said the amount wouid be
raised upon debentures at 4 per cent , and he al,o
stated that, in the exercise of a power previously
conferred upon them for converting the debenture
debt into permanent stock, the directors had
already converted 200,0001. of debenture bands
into perpetual annuities at 4 per cent. He had no
doubt the whole of the debewure debt would be
similarly converted in time, and the result would
be a saving of 20 per cent. upon the amount of
interest now paid on the debenture debt of the
company. (Hear, hear.)
The resolution having been adopted, the pro-
ceedings closed by a cordial vote of thanki to the
chairman and directors.