The Sun.
London, England, 1835-10-30 00:00:00

ceipts on 25,000 shares, at 51. per share, had been 125,000/.
The expenses incurred by the Company, including all out-
standing claims up to Oct. 24, 1835, were as follow :
Amount disbursed by the Provisional Com-
mittee in Bristol, prior to the formation of
the Company £ 887 16 8
Engineering, including ' Surveyors, Land-
valuers, and professional witnesses in Par-
liament ... ..
Parliamentary agents and fees ...
Solicitors' Bills, including fees to Counsel, and
other law charges, and disbursements...... 38,771 19 10
Parliamentary expenses, including witnesses,
hire of Committee-rooms, canvassing, ob-
serving road traffic and other disbursements 8,500 8 5
Maps, ptans, &c., for the use of Parliament... 349 17 4
Country agents' charges and expenses 5,709 5 5
General disbursements, consisting of office ex- _
penses, salaries to Secretaries and clerks,
stationery, postages, travelling, and all in-
cidental expenses
Advertisements, printing: &c.
The reading of the report was followed by loud cheers,
and it was unanimously adopted.
On the motion of Mr. Sims, seconded by Mr. CAY LEY,
it was resolved that the corporate seal of the Company be
affixed to the- register of proprietors now produced.
A resolution of thanks to the Directors for the talent and
perseverance with which they had conducted the affairs of
the Company up to the present period, was then put: and
carried unanimously.
The CHAIRMAN returned thanks for the manner in which
the subscribers bad been pleased to testify their approbation
of the conduct of the Directors. He sincerely hoped that
those who had the honour of being appointed Directors
hereafter would give equal satisfaction to the Company,
and exhibit similar zeal in advancing its interests.
A SHAREHOLDER then moved that the twenty-four gen-
tlemen who had hitherto acted as Directors be appointed
permanent Directors of the Company, under Sect. 127 of
the Act of Incorporation.—Agreed to.
The CHAIRMAN, in returning thanks on behalf of him-
self and the other Directors, hoped that at the next meet-
ing of the Company, their exertions would be found to give
similar satisfaction. .
It was then resolved that the Board of Directors be em-
powered to make application, in the ensuir, Session of
Parliament, far an Act to carry into effect the deviations
recommended in the report.
Mr. RUSSELL ScoTT begged to ask the Secretary, whe-
ther the Directors had received any remuneration fortheir
services up to the present time ?
Mr. SAUNDERs felt much pleasure in being able to give
a satisfactory answer to the question. There could be no
difficulty in stating the simple fact ; and if he merely gave
a simple negative, and said that they had received no re-
muneration, he believed he should best consult the feelings
and wishes of the Directors themselves. But he thought
the meeting would expect something more from him ; and
although, under the circumstances, he (Mr. Sauners)
might come under the imputation of a suspicious witness,
as being the servant of the Directors, and under many ob-
ligatio:l's to some of them, still he felt it his duty to say,
that, in the first place, the Directors had received no re-
muneration of any sort or kind. He would further say,
that he had attended their meetings, and the question
of remuneration had never been agitated even among them-
selves, although to his certain knowledge many of them
had incurred expenses which had never been defrayed, nor
had ever been sought for.—( Loud and continued cheers.)
He would go a step further, and he felt himself authorized
to do so, as one who was familiar with the circumstances
and proceedings of the Company throughout, that the Di-
rectors had incurred personal liabilities to a very consider-
able amount, for the purpose of aiding the undertaking.
Whenever any prospective arrangement that might here-
after be beneficial to the Company was suggested, they did
not hesitate to lend their names and become personally re-
sponsible, although from these liabilities they were now re-
lieved.—(Hear, hear.) None who had witnessed the ex-
ertions and perseverence of the Board of Directors could
doubt that they well deserved what he believed they pos-
sessed, the entire confidence of the proprietors.—(Hear
and cheers.)
Mr. SimoNs begged to know whether any gratuity had
been given to the secretary since the termination of the
contest in which the Cempany had been engaged ?
The CHAIRMAN knew not whether the salary allowed
their sec;etav could be considered a gratuity. After the
Bill had passed,-, his salary had been advanced,—the ad-
vance to commence 'at the period when the first operations
would be set on foot. had received no. other gratuity.
Mr. SIMONS—Then I beg to.zove that the Directors
be empowered by the Proprietors ea, grant to the Secre-
yery important
tary such a donation as he deserves, f0r."4.,i&
services.
The CHAIRMAN, in putting the question, observed, that
he was not influenced by any thing that had fallen from the
Secretary, relative to the conduct of the Directors, when
he assured the meeting that they had got a Secretary with- '
out whom, he conscientiously believed, they would never
have carried the undertaking into effect.—( Hear.)
The resolution was carried unanimously.
Mr. SAUNDERs felt deeply grateful for the kindness which
had just been exhibited towards him by the proprietors, and
feared that his services had been greatly overrated. He
was aware that lie was the servant of the proprietors gene-
rally, as well as of the directors ; it should be his study to
give every facility to the transactions of the Company, and
he hoped that it would never be cast as a reflection upon him
that he had not done his best for their interests in every depart-
ment of the business that came under his care. The pros-
pects of the Company, he was happy to say, were such as af-
forded reasonable hope that at a much earlier period than
any undertaking of similar magnitude could expect it, the
proprietors would be receiving a return for the capital they
had expended.—(Hear.) It was a very peculiar fact as
regarded the present rail-road, that for 25 miles out of
London there was the easiest work upon the entire line,
and within twenty months it was expected that that por-
tion of the work would be repaying the capital advanced.—
(Cheers.) That was a very material consideration,,and he
was sure the proprietors would give every assistance in
their power to its accomplishment.—(Hear, hear.)
Mr. R. SCOTT reminded the meeting that they were
commencing at the wrong end. It had been ascertained
that the Directors had received no remuneration what-
ever, and that was a state of things which either
in justice or sound policy ought not to continue.
However far the zeal of gentlemen might carry
them for two or three years, it was quite impossible to
suppose that the affairs of the Company could be advanta-
geously conducted, if gentlemen were called upon to give
up their valuable time without some remuneration.—
(Hear.) He was sure he only gave expression to the feel-
ing of the proprietors generally, when he said that the
Directors were entitled to remuneration. The amount he
would fix at emu annually, as it was the sum which the
other great line, the London and Birmingham Railway
Company, had voted to the Directors ; and he believed
that a similar arrangement in the present case would be
perfectly satisfactory to all parties. He begged to propose
that that sum be allotted annually, and that it commence
from the period of their appointment.
Mr. S. WARING seconded the resolution. As a native
of Bristol he would beg to say a few words upon an ad-
vertance in the Report to the Bristol and Exeter Railway.
As a director of that Company he could assure the meet-
ing that it was perfectly safe.—(Hear.) Applications had
been made fer mere shares than was necessary to fill up the
list. Knowifig
,the importance of the Bristol and Exeter
as a feeder to the Great Western Railway, he was sure the
meeting would receive the announcement with great satis-
faction.—(Hear.) Whatever other lines might he pro-
jected that would certainly be carried into effect, so far at
least as proceeding with it to Parliament, He cordially
seconded the resolution.
The CHAIRMAN was directed by the proprietors to ac-
knowledge the manner in which the resolution had been
proposed and received. They would however be perfectly
satisfied to receive it commencing from the present period.
Mr. SWEET—Pass the resolution as it stands, and then
accept it or not as you please.
The CHAIRMAN wished that it should be altered to,
" from the present period."
A DIRECTOR said they had always represented that they
were acting gratuitously, and they would not now wish any
compensation to be given for the time that was gone by.
After some discussion, it was arranged that the annual
allowance should commence from the date of the passing
of the Act (31st August), with which amendment the re-
solution was agreed to.
Mr. SWEET would remind the meeting that they owed a
deep debt of gratitude to Lord Wharncliffe, Lord Gran-
ville Somerset, and Mr. Charles Russell, the Member for
Reading, and they would be wanting in duty if they were
passed over. He begged to =Lye a resolution expressive
of the gratitude of the Company to the three individuals
he had named.—(Hear, hear.)
Mr. GIAN--Not only the Company, but the public ge-
nerally, were indebted to the exertions of Lord Wharncliffe
and the others, for their efforts in promoting the triumph
of truth over error—he would not say of plain dealing over
deception—but certainly the success of that Company was
the triumph of truth over error. He felt great pleature in
seconding the resolution.
The CHAIRMAN assured the meeting that the Directors
had net bon negligent of their duty in returning thanks
to the Nobienisii 11414 Gentlemen by whom their under-
taking had been supported, It wgnld be an additional
gratification to those individuals to find the proprietor's
generally lending them their acknowledgments. With re-
spect to Lord Wharncliffe, his exertions were beyond
praise. Ile had been forty days in close attendance on
the Committee during the last session. and bad been
engaged in hearing the opinions of Counsel for seven,

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