The Sun.
London, England, 1868-05-22 00:00:00

THE SUN, LONDON, FRIDAY EVENING, MAY 22, 1868.

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RAILWAY IN7ELLIGENCE.

LONDON AND BRIGHTON.

A special meeting of the proprietors of this com-
pany was held yesterday at the International Hotel,
London-bridge, under the presidency of Mr. S.
Laing, M.P., for the purpose of submitting.to the
proprietors certain bills now pending before Par.
liament.

Mr. Rose, the company's solicitor, stated that
the first bill for their consideration was in-
tituled. " A Bill to authorise the London,
Brighton, and South Coast Railway Company
to abandon certain works, and for other pur-
poses " (and one of which purposes was to confirm
an agreement entered into for reference to arbi-
tration of the matters iu difference between the
London, Brighton, and South Coast Railway Com-
pany and the Surrey and Sussex Junction Railway
Company, and divers persons partici to the pend-
ing suit in Chancery.) Mr. Rose having explained
the heath of the variou's clauses of the bill,
The CHAIRMAN moved a formal resolution ap-
proving of the bill. One of its clauses was for em-
powering an increase of fares. lie did not sup-
pose that the shareholders would object to that if
Parliament would sanction it. At the same time
he wished to state that it was not proposed to
charge extravagant rates, but simply to place them-
selves in the position of being enabled to charge
moderate rates when compared with other com-
panies. With regard to the clauses empowering
the company to raise additional capital, not
exceeding £1,000,000, the proprietors were
aware that at the date of the last meeting the out-
standing liabilities of the company amounted to
£BOO,OOO. Since that time they had been reduced
by some £90,000, leaving in round numbers up-
wards of £700,000 to be provided for. Of course,
in winding up an affair of the nature of the Surrey
and Sussex very much depended on the amount of
compensation to landowners and others, and there-
fore it was necessary on taking powers to leave a mar-
gin, but it wastot the intention of the directors to ex-
pend more than was absolutely necessary ; but they
wished the Matter settled, and he thought that their
best thanks were due to the Duke of Richmond for
having consented to act as arbitrator. lle hoped
that they would be enabled to wind up the claims
by the next meeting, and the proprietors might feel
assured that in any case the total expenses would
be much less than if litigation had been adopted.
Mr. LEVY, the deputy-chairman, seconded the
motion, which was agreed to.
The agreement entered into between the London
and South-Western Railway Company and the
London, Brighton, and South Coast Railway Com-
pany, dated the 30th April, 1868, confirming and
modifying certain previous agreements between
those companies, respectively called the " Ports-
mouth agreement," the " Epsom and Leatherhead
Agreement," and the Wimbledon and Croydon
Agreement," was duly confirmed.
The meeting was then adjourned.