The Sun.
London, England, 1866-02-01 00:00:00

COLCHESTER AND STOITR VALLEY.

The half-yearly meeting of this company was held
on Tuesday at Colchester, Mr. Ewen in the chair.
An abstract of the report has appeared in The Sun.
On the mction of the Chairman, the report and
accounts were adopted, and a dividend at the rate
£3 Bs. per cent. per annum was declared for the
past six months. Mr. Dalton and Mr. Garrad were
re-elected directors, and Mr. Fentonwas reappointed
an auditor.

The proceedings closed with a vote of thanks to
the chairman and directors.

TURIN AND SAVONA.

The adjourned special meeting of this company
was held yesterday at the London Tavern, Lieut.-
General Tremenhere in the chair.
The report of the London Committee stated that
the agreements for the purchase of land for the whole
length of the railway had been concluded, and that
the land requiredfor the main line and stations from
Savona to Carmagnola had been actually purchased.
On the first section, from Savona to the Sella tun-
nel, 94- miles in length, nearly all the works of art
had been executed. The Sella tunnel, upwards of
14 mile in length, was a difficult work, but now
might be considered as completed. The third sec-
tion, 114 miles, from the Sella tunnel to the Belbo
tunnel, was nearly half completed. The Belbo tun-
nel, 2i miles in length, was expected to be com-
pleted next summer. The fifth section, from the
Belbo tunnel to Carmagnola, 48,1 miles, would be
completed at the same time as the rest of the rail-
way. The works on the Cairo and Acqui branch
had not been commenced. Mr. Abernethy, the chief
engineer, reported generally that the works on the
line had been well executed throughout its whole
length.

The CuArnm Ali
'd the English directors were I
often obliged +
.0 crosalt
which oTurin to consult with their I
colleagues there,
There had always was a very unpleasant task.
been one feature in the company,
and that was that the works had proceeded in a most
satisfactory manner. The engineer had directed his
sole efforts to the constructionof the tunnels. There
were about six miles of tunnelso between Turin and
portions Savona, and all the other onsof the railway
English
had been examined by the directors and
found to have been executed in a workmanlike man-
ner. The great thing needful was plenty of funds
The Italian Government had done everything'
in
their power to help the company. In March the
capital was divided into a number of obligations and
shares, and on the whole of that capital the Italian
Government had guaranteed 6 per cent., which
guarantee had not been enough to put them in pos-
session of sufficient funds. If they could only raise
money sufficient to complete the main line they
would afterwards be able to complete the branch.
In a few years time there would be communication
from France to Savona, and no doubt as there was
an excellent watering place at Savona, French
people would go there, which would bring a consi-
derable traffic on their line.

Mr. KE3IBER said it had been agreed that half-
yearly meetings should be held in London. He was
glad to say he could corroborate everything con-
tamed in Mr Abernethy's report respecting the works.
Mr. HARTRIDGE-Said the statement of the chair-
man and Mr. Kerner left some doubts in his mind.
It was necessary that every inforn*tion should be

given to the shareholders so that they might be able
to understand the position of their affairs.
Mr. KEMBER said they had spent more than
£500,000, and they would be able to make the line
for less than they expected. On the whole, they
would require to raise £1,000,000, more to complete
the line.

Mr. FIELD said he thought they would find it
almost impossible to raise the money they required
on the guarantee. (Hear, hear.)
Mr. HARTEIDGE hoped they would be able to
work together with harmony. He had no doubt
that the directors had done everything they could to
promote the interests of the company. He moved
that the thanks of the meeting be given to the di-
rectors, which was carried, and the proceedings ter-
minated.