The Sun.
London, England, 1861-08-12 00:00:00

NORTH BRITISH.

On Friday an extraordinary general meeting of
the shareholders of the North British Railway was
held at Glasgow ; Richard Hodgson, Esq., chair-
man of the company, presiding.
The advertisement calling the meeting having
been read, _ _ _

The CHAIRMAN said, in moving certain resolu-
tions to carry out the objects contemplated in the
advertisement which the shareholders had just heard
read, it would not be necessary for him to do
more than make a very few observations, be-
cause the whole business they had to do
was, in point of fact, to do what they had re-
solved to do long ago—viz., to raise capital
purposes, under certain specific
Afoortsceorftrainn specificrlia
ment. The directors having thought
it advisable not to raise a number of very
small sums, which the company were entitled to
raise under different acts, had agreed to join them
together into one amount, which would make in all
a snm of £296,820. In the first place there was
£8,460 proposed to be raised by the North British
and Selkirk Railways Amalgamation Act. This
had in point of fact been advanced by the North
British Railway already, and the capital now
sought to be raised was to replace the capital al-
ready advanced under these acts. The same re-
mark applied to a portion of the sum to be raised
under the North British and Jedburgh Amalga-
mation Act, viz., £4,420, which to some extent
had been advanced by the North British Com-
pany. But there was another portion which was
advanced by the Jedburgh Company's directors at
their own personal responsibility, and of which they
would be relieved by raising this sum. There were
also £30,000 to be raised under the powers of the
North British Railway (Stations) Act. They had not
yet come to any agreement with the corporation of
Edinburgh regarding the selection of a site for the
new vegetable market, which it was necessary to fix
upon before taking possession of the market. That
question was now before arbitrators, and he trusted
that it was in course of being satisfactorily settled.
They had not found it easily to deal with the corpo-
ration of Edinburgh in this matter. He must say
that that body had not displayed that activity in add-
ing to the station accommodation which the company
were anxious to give the inhabitants that under
the circumstances might have been expected. In
place of affording any great fa_
uciltiters,tohre
ne showingotia-
any appearance of anxietyt
regardfurther
ro
nobstructions
unnecessaryt o that
in n in negotia-
tions
waypoint
tofi° fnasc t
hw
of selecting a site for the new market. He hoped,
now that the matter had gone before the arbiters,
that such a decision would be given as would allow
the company to enlarge the station according to
their plans. Under the Border Counties Amalga-
mation Act, there was £108,940 to be raised,
and this money was wanted immediately. The
shareholders were aware that the North British
Company had already advanced a consi-
derable sum in aid of the works of that
line, and they expected that before the
close of this year the whole of that forty miles of
railway would be open for traffic. To do this, how-
ever, required a large sum of money. There were
£95,000 to be raised under the Galashiels and
Peebles' Railway Act, and there were also £50,000
to be raised on an act which passed in the yearllBs9,
which was called the Wansbeck Railway Company,
which connected the whole of the Eastern and cen-
tral line of the North British. This subject had
been well considered by the shareholders at
former meetiags, and they:were only carrying

out what on former occasions was the inten-
tion of the company—their intention was
to raise £50,000 in order to subscribe a
certain amount to the Wansbeck Railway funds,
and the directors also sought power through the
share holders to grant 4 per cent, over capital ad-
vanced to the liransbeck Railway. That railway
opened up a great part of their line, and there were
twelve and a half miles of it now in course of con-
struction, seven of which were to be open in Octo-
ber. It was, therefore, necessary that the share-
holders of the North British Railway should be
prepared to take possession of a line which he
believed would have a very important bearing upon
the interests of the company. The chairman con-
cluded by moving a series of resolutions in accord-
ance with the views expressed in his speech, which
were unanimously agreed to.