The Sun.
London, England, 1866-08-29 00:00:00

Great

!way.

MEErING TIIIS DAY.

The ordinary half-yearly general meeting of this com-
pany was held to-day at the Railway Station, Paddington
—Mc. C. A. Wood, deputy chairman, presiding.
The report having been taken as read,
The CHAIRMAN, in moving its adoption, said that her
Majesty had congratulated the country on a great
event of national importance. Her Majesty had,
with much taste, addressed the , President of the
United States, the subject of that address having
for its object the completion of the telegraphic connection
of the Old and New World by telegraphic communication.
(Hear, hear.) They had lent their chairman (Mr. Gooch)
to the Great Easton Steam Company, which was the
reason of his inability to attend the present meeting. Mr.
Gooch had received so muss kindness and consideration from

the directors generally that he came to the resolution of not
going on the board of the company in question, but to de-
vote himself entirely to the interests of the Great Western.
But it was considered that it was rendered necessary that
he should superintend the vessel across the Atlantic, and
the shareholders of the present company had consented to

his accepting the important duty on board the great
vessel. Very shortly before the sailing of the vessel
the chairman of this company entered upon his
duties. Ho had to state that indulgence of the share-
holders would, he trusted, be extended towards him (the
deputy chairman), for there would be an increase in the
expenditure and a decrease in the dividend. However, in
accordance with the recommendation of their late chair-
man, Mr. Potter, they laid out a large sum in increasing
the quantity of their railway stock in order to carry out
their policy. It was indispensable they should carry out
their policy of the extension of their stock as their increased
expenditure was very largely increased. In July, 1865,
£3,113,000 the company received on account of revenue,
and there was an expenditure of £1,786,000 ; but in July,
1866, there was £3,619,000, and there was an expenditure
of £2,176,000. It was necessary that them should be a
large amount of heavy expenditure, in order to carry out
the suggestions of Mr. Potter. He referred to the
London and North-Western Railway, which he said was
one of the best managed railway companies, and the
chairman of that company, Mr. Moon, was most indefa-
tigable in promoting tho interest of that company.
However, that company had expended lid. per mile,
while the Great Western Railway had expended only
id per mile, which contrasted more favourably with the
London and North-Western Railway. Having adverted
to the proceedings before Parliament during the past Ses-
sion, ho went in detail through -the different items in
the report, and contended that the state of the company's
affairs indicated a very favourable condition, notwith-
standing .that the dividend for the half-year did not at
present exceed more than 2 per cent. per annum.
Mr. POTTER seconded the motion, which, after some dis-
cussion, was agreed to.
The meeting was then made special, for the purpose of
sanctioning the transfer cf some short leases to the com-
pany, and for other purposes.
The proceedings terminated with a vote of thanks to the
chairman.