The Sun.
London, England, 1859-08-31 00:00:00

NEWRY AND ARMAGH.

The ordinary half-yearly meeting of the proprie-
tors of this railway was held at Newry on Monday.
Mr. Lattimore, chairman of the company, presided.
The report, which showed an increase in the traffic,
was unanimously adopted.

The CHAIRMAN then moved the resolution autho-
rising the directors to exercise the borrowing
powers of the company.
Mr. J. W. GREER eked if the payment of that
loan and interest took precedence of the dividends
on the shares when the railway was in a position
to pay a dividend ?
Tne CHAIRMAN said there was no question upon
that point, but if they would come forward and
take shares they did not require the clause at all.
The resolution, having been seconded, was put
and carried neon. con.

The meeting was then made special in order to
consider and determine the future prospects of the
company. In the course of the discussion of the
prospects of the company it was asserted that, un-
less 3,000 shares were taken it would be almost im-
possible to procure the requisite loan of £78,000
from the Commissioners of Public Works. It was
observed that the proprietors of the soil in this dis-
trict had not extended to the undertaking that
amount of support that was to be expected from
them. Some of the merchants and householders in
Newry, &c. had looked upon the scheme rather
phlegmatically ; anda committee was nominated to
call upon them to urge the necessity of supporting
the directors.

ORIENTAL INLAND STEAM COMPANY
(LIMITED).

The half-yearly meeting of this company was
held yesterday, at the London Tavern, Colonel
Grimes in the chair, when the following report was
read:—
" In their last report yoUr directors intimated
that the trains despatched- from this country last
autumn had arrived in India in safety, and that so
soon as this intelligence was received, your manag-
ing director was despatched to Kurrachee' to see
the vessels fairly started on the river. Your direc-
tors have now to report that upon Mr. Bourne's
arrival at Kurrachee, owing to the great vigour
with which the work had been prosecuted, he was
enabled almost immediately to launch one steamer,
a passenger barge, and one cargo barge; these
vessels were tested under weigh in the harbour in
a connected state, and were found to act satisfac
torily. The mouth of the Indus, which at present
forms the navigable entrance to. the river, is a con•
siderable distance from the harbour, and the mon-
soon being then near at hand, it. was found impos-
sible to wait for the completion of more barges, as
in consequence of the heavy sea during that period
between Kurrachce and the mouth of the Indus, the
passage across in boats of this description would
have been impracticable. As it was, those already
launched were only got into the river with much
difficulty. On the 23d of May, Mr. Bourne, accom-
panied by Mr. Wood, started from Gisree, and pro-
ceeded up as far as Sehwan, a distance of about
330 miles. The intense heat of the weather caused
much sickness among the officers and crew. The
European pilot, Mr. Masterton, died from sun-
stroke ; and the power of the steamer, from causes
not at present fully known, having been found
inadequate to propel her with sufficient speed
against the stream, which was found to be stronger
than was -hitherto represented, it was resolved to
return to Gisree, with a view of perfecting arrange-
ments for another trip. Intelligence has been
received by last mail of her safe return.
"The directors regret exceedingly that the antici-
pation they had entertained of being able to report
oi this occasion the favourable inauguration of
the company's enterprise has, from these' causes,.
been unavoidably deferred. Nevertheless, although
the train has been unable to complete the ascent of
the river as above mentioned, your directors see no
reason to abate their confidence in the ultimate
success of,the undertaking. The remaining barges
of the first train, as also the whole of the second
train were in a forward state at the time the last
reports were dispatched from Kurrachee, and they
will, it is believed, be ready for tranTout
iss' ion to the
river by the close of the monsoon,.
directors
in the last report intimated their hav
in. 7 ordered
two additional trains of greater power and'' capacity
than the last ; these trains are in a forward state of
7
completion ; some of the barges have been shipped
in a vessel purchased by the company. with a view.,
to her being converted into a coal hulk on her ar-
rival at Kurrachee. The steamers, one of which-
is being put together for a trial in this country,
will also be realy at an early period.
" A considerable quantity of . coal has been dis-
patched, as it was deemed requisite to have a large
supply in India, there being at times a difficulty in
procuring an adequate supply of wood.
"The calls made on the several issues of shares
havil'g been freely responded to, your directors do
not consider that it will be necessary to make any
further call for the present.
"In the articles of assoaiation, (lauses No. 31
and 41 are too stringent, and have caused much in-
convenience in the practical working-of the com-
pany's business. A resolutinn to amend these-has
been framed, and will be submitted for adoption-at
the special meeting. •
"In furtherance of the intention expressed by
your directors at last meeting, they proceeded to
elect two gentlemen to fill the seats in tho direc-
tion which were the? reported vacant; and it was
with considerable satisfaction 4-hat they were
enabled to add to their list the lames of Mr. Car

gill, one of the directors of the Oriental Bank Cor-
poration, and Mr. Mackenzie, deputy chairman of
the Eastern: Bengal Railway Company; and to
these appointments your confirmation is solicited.
• "A vacancy having occurred in the office of au-