The Sun.
London, England, 1859-10-19 00:00:00

RAILWAY INTELLIGENCE.

GREAT WESTERN.

Yesterday thelong-pending dispute between this
Company and the local authorities of Paddington
was brought to an amicable adjustment at a meet-
ing of the vestry of that parish ; the Rev. Archi-
bald Boyle, the rector, in the chair. A communi-
cation was received from the secretary of the
company stating officially that, in order to settle
the dispute, the directors would submit to an
assessment of the line and property of the Great
'Western Company in the parish of Paddington at
£20,000 per annum.
_ _

Mr. PRICE mond that the proposal be accepted,
and that the assessment of the property of the
Great Western Company in the parish of Padding-
ton be fixed at £20,000, which he considered just
and equitable. The motion having been seconded,
The resolution assessing the Great Western Rail-
way Company at £20,000 per annum was carried,
,with but three dissentients.

CORK AND KINSALE JUNCTION.
The first ordinary meeting of this company was
held yesterday at the office, Gracechurch-street ;
Sir C. Roney in the chair.
Mr. WOOD, the secretary, read the report, which
stated that the contract works for the entire line
had been let to Messrs. Trowsdale and Son, of
Stockton, upon satisfactory terms, several competi-
tive tenders having been received by the Board ;
the total sum for completing the 10 miles of rail-
-way ready to run the engines. and carriages upon
it was £41,491, or £4,107 per mile, which amount
had been inserted in the contract deed, and for the
due performance of which sufficient security had
been accepted. The Board of Trade had required
the company to substitute several stone bridges in
lien of the level crossings originally intended on
the line. This addition to the original estimate
would amount to between £3,000 and £4,000, but
the cost thereof was included in the above contract
tram of £11,491, and, although the effect in the first
instance would be to increase the cost of the line,
the annual charge attendant on the watching and
maintenance of such level crossings would be dis
penned with, and at the same time a much greater
degree of safety would be insured in working the
line. The necessary bond, guaranteeing to the
Crown the due completion of the railway, was
being engrossed, and would shortly be executed,
by which the Parliamentary deposit of £3,296
would be released for the purposes of the company.
An independent empany, with limited liability,
had been formed for the purpose of erecting a large
hotel and floating baths at the harbour of Kinsale,
and both uedertakings were to be finished on the
opening of the railway. The directors considered
that such projects when completed must conduce to
the traffic of the railway. In reference to the
traffic prospects of the line the Board refer with
pleasure to the continued increase of receipts on the
Cork and Bandon Railway, which had now reached
the sum of from £lB to £2O per mile per week, and
considering the various elements of traffic that could
be developed on the Kinsale junction line, including
pleasure and tourist traffic, the directors hoped they
were not too sanguine in anticipating a similar
mileage traffic on their line. Taking into account
the cheap cost of the railway and the favourable
working arrangements made with the Cork and
Bandon Railway Compaiiy for providing rolling
stock and, working the traffic for 30 per cent. of the
gross receipts, the dividend prospects of the line
must be considered satisfactory by the shareholders.
The capital account showed that £10,354 had been
received to the 15th of October, and £3,867 ex-
pended, leaving a balance of £6,487, including
£3,269 in the hands of the Accountant-General.
The report of the engineer stated that a consider-
able portion of the land had been delivered to the
contractors, and that they had actively commenced
the works thereon.

The CHAIRMAN, in moving the adoption of the
report, said that it went so fully into the affairs of
the company that he had only to congratulate them
on the position to which they had arrived. The
works were being carried on so as to secure the
opening of the railway at the earliest possible
period. Their position on the whole was extremely
satisfactory, and the excellent arrangemdnts made
with the Cork and Bandon Railway would insure
them 70 per cent. of the receipts, the latter com-
pany having agreed to find rolling stock, and work
the line at 30 per cent. of the receipts.
Mr. T. WINKWORTH seconded the motion for
the adoption of the report, and it was carried.
On the motion of Mr. MACKILETH, seconded by
Tar. CORRY, the sum of £350 was voted to the di-
rectors for past services, and £250 per annum, to
commence from the Ist inst.

The CHAIRMAN, in returning thanks, said they
would never have been in the position of proposing
such a resolution if it had not been for the success-
ful exertions of their indefatigable secretary, Mr.
Wood. He proposed that the silary of the secre-
tary be £3OO per annum, including the accountant's
duties and an office clerk.

Mr. SEDGWICK seconded the motion, and it was
tarried.

Mr. H. TENNANT and Mr. C. BELL were elected
auditors, the remuneration being £lO per annum
for each auditor.
It was then agreed that the half-yearly meetings
of the company should in future be held on the
third Wednesday of February and August in each
year, and a rote of thanks to the chairman con-
claded the proceedings.

NORWEGIAN TRUNK.
The report of the directors of this company for
the year ending the 31st of August last states that
the accounts show an increase on the receipts over
those of 1858 of £2,574, and of £657 in 1857. The
results have enabled the Board, after payment of 5
per cent. to the preference shareholders, to declare
a dividend of 21 per cent. on the non-preference
;stock, carrying a balance of £2,000 to the reserve
fund, which now amounts to about £6,600. The
Eve years during which, according to the original
contract, the British contractors were bound to up-
hold and guarantee the solidity of the line having
expired on the 31st of August last, the railway was
at that date formally delivered over by the con-
tractors to the company. The English directors con-
eider it due to Mr. S. B. Shaw, the manager, on his
ratixement, to acknowledge that to his zealous exer •
tions during the past five years the company were
mainly indebted for the rapid but sound develop.
ment of the resources of the umlertaking, and for
its unusual immunity from casualties. They also
acknowledge the valuable services of Mr. Fcrgur-
non during the same period, who filled the offices of
resident engineer and locomotive superintendent.
The report shows that some differences of opinion
exist between the English and Norwegian directors
with respect to the payment of the preference
dividend, and other matters. The capital account
allowed that £450,000 had been received and ex-
pended. The revenue account for the year ending
the 31st of August last shows that the receipts
amounted to £40,178, and the expenses to £21,233,
leaving a balance of £18,945.

OUDE.
The directors state in their report that the Sec-
retary of State for India in Council had passed the
accounts of the company, and allowed the past ex-
penditure to form part of the capital to be guaran-
teed, as well as the future expenditure necessarily
to be incurred in the survey of the country under
the direction of the Governor-General of India. A
staff of engineers had therefore been despatched by
the board to India, to survey the several lines of
communication in Oude. The engineers would
reach their destination in time to commence their
surveys by the Ist of November. The result of those
surveys, with the plans and sections, would, it was
expected, be received in England about May next,
'when the views of the Government of India would
%lac) be ascertained as to the construction of the
The proposed amalgamation with the Central
'Jude Railway Company could not be carried out.
The directors were, however, informed that the
holders of a considerable number of shares in the
Central Onde Company had evinced a desire to
become shareholders in the company, and the direc-
tors deemed it desirable for the interests of the
undertaking to recommend to the shareholders the
adoption of the following arrangements :-Ist, That
the holders of shares in the Central Oude Railway
Company should, as far as pfacticable, be admitted
as shareholders in the Oude Railway Company,
on payment of a deposit of ss. per share. 2. That
the election as directors of General Sim, Mr. G.
Norton, and Captatp Johnston, who have been
provisionally appointed by the board, in the room
of Mr. J. Stewart, Mr. A. Henderson, and Sir J.
I,oain, be confirmed; and, 3, that Mr. Stewart, Mr.
Henderson, and Sir J. Login be elected auditors of
the company. The capital account- showed that
£11,358 had been received, and £5,044 expended,
leaving a balance of £6,314.

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