The Sun.
London, England, 1850-08-10 00:00:00

a beard of diiitetors? Why could it not be reduced by •
at least one-thin k The offices, too, of architect and
solicitirr.m.ight be stfely dispensed with, while the offices
of secretary and treasurer might be as safely filled by
ono and the same person:.
Lord MORTON said it 41d have been perfectly im-
possible to issue the present report with the accounts.
The accounts were not audited till the 30th of July, and
therefore the directors had only seven or eight days to
prepare their report. Besides, if they were to send out
the report with the accounts he was very much afraid 6
that but a very few of the shareholders would attend the
meeting.—(Hear.)
Mr. Sergeant GASELEE did not think so. The Brigh-
ton Company, whose line was the best managed in the
kingdom, printed their report with the accounts, and
yet they always had a very full attendance at their meet-
ing.—(Hear, hear.) The fact, however, was that the
report which they were now called upon to adopt con-
tained nothing more than every one of them knew before
they entered the room.—(Hear.) He wished to know
who was to suffer the loss of the 2,0001., the
amount of ore of their clerk's defalcations? The report
wail so mea,gie and unsatisfactory that he could not
adopt it; and whatever the directors might say about the
vote of confidence which a packed meeting passed to
them, Le still maintained that they were wholly incom-
petent to manage the affairs of this great concern.—
(Hear, bear.) He wished to know if the per-tentage to
be given to the officers was to be shared in by the di-
rectors, and whether a preference had ben given to a
particular firm in reference to carting.—(Hear, hear.)
Mr. HOYES said the auditors had mailing to do with
fixin:z the amount of dividend, but the directors did not
determine the amount till after the auditors had sent in
their statements, including, of course, the balance carried
over last half-year. He agreed with Mr. Locke, that in
making up the capital account, each branch and line should
be kOpt distinct. With regard to the 172,000/. which had
been expended on capital account this half-year, the esti-
mate had only been exceeded by 3,000/, and lithe whole
of the 640,0004 of estimated liabilities were not exceeded
by more than ten per cent. the proprietors would have
no cause to complain. If the shareholders were disposed to
appoint any one to act for them the auditors would satisfy
him that the accounts were satisfactorily cor-
rect, and thet there had been no misappropriation
of either capital or revenue. He was convinced that the
more the shareholders looked into the accounts the
more they would be satisfied that they were strictly
correct.—(Hear, hear.)
Mr. PIINCHARD said the vote of confidence passed at
tan last meeting was carried by the directors placing the
officer at the bottom of the room to put down those who
were opposed to the board.
Lord MoBLEY said there was not a word of troth in
that statement, and he therefore called upon Mr. Pun-
chard to withdraw ire—(Cheers.)
Mr. PCNCHARD declined to do so, and went on to de-
clare that the line could be worked by 25 per cent.
The working staff could be reduced a third
without affecting its efficiency. He moved for a
return of the names and occupations of all
persons in the receipt of yearly and weekly salaries
from the company.—(Oh, oh.)
No one, however, seconded the motion, and it conse-
quently fell_ to the ground.
The Csaitemo, in reply to. further questions, stated
that no more money would be expended upon tbe Lon-
don-bridge Extension than what was imperatively neces-
sary. It was not, the intention of the board to decrease
their number. They had no longer a chief engineer,
while the architect had almost worked himself out of
their service. The legal expenses of the half-year
amounted to about 7001., and it was intended to appoint
a salaried law clerk. _ _ _

Mr. BARER laid it was in the goods traffic that this
line suffered. While on every metropolitan line, except
the Blackwell, the goods traffic had increased, that on
this line had decreased, and so long as Mr. Chaplin
remained chairman this company would never prosper in
its_ goods traffic.—(Hear, hear.) He should be glad
to know the resultoF the cheap trains' system, and while
he asked for that information, he must express a hope
that before the Exhibition of 1851 the directors would
have satisfied themselves that it was successful, or dis-
continue it.—(Hear.)
The CHAIRMAN said the directors would be always
open to suggestions from the shareholders, upon points
connected with the management of the line.
Mr. PuttcHAED—Will you receive a suggestion from
me. sir ?
The CHAIRMAN—I have already told you so per-
sonally.
Mr. PIINCHARD—WeII, I think I can make a sugges-
tion that will save ycu 50,0001—(Roars of laughter.)
The CHAIRMAN explained, in reply to Mr. Baker,
that the line obtained all the goods traffic which the
districts through which it passed produced. The firm of
Chaplain and Horne had nothing to do with the goods
traffic; they had never been carriers on the line, and
were only agents for the receipt and collection of goods.
In the course of the autumn the directors con-
templated calling the shareholders together to
decide what projected lines, which bad already
been sanctioned by the Legislature, should be abandoned
in the event of the Railways Abandonment Bill becom-
ing law. _ _

Mr. SMITU and Lord MORLEY said the directors had
fully examined the agency question, and they were of
opinion that the agency could not be changed with any
a ivant Ige to the cnropsny.
Mr. UZIELLI, another d►rector, in reply to a question,
stated that yesterday the company borrowed money at
3} per cent. The unpAid calls now due amounted to
about 60.0001., but the holders were perfectly solvent.
Mr. TITE asked when the contract on the Farehm
and Gosport lit.e was likely to close. It involved an ex-
penditure of 27,000/, a yeah
The CHAIR.MAN said all the contracts for the maintc-

nance of way would close on the lit of Dec. next.
The moti,n for the adoption of the report was agreed
to. The resolutions moved as amendments were pre-
viously withdrawn.
The dividend was then declared payable on the 26th
instant.

Tae otIlf:r matters referred to in the report were then
disposed ot. The forfeiture of the shares upon which
the calls were in arrear was postponed till a future
meeting.
Thanks were then voted to the Chairman, and the
meeting, which wns numerously attended and protracted
to a late hour, broke up.

MARKET INTELLIGENCE.
(Frow the London New Price Current, Aug. 9.)

SUGAR. To-day the demand was good for West
India, both for the pan and scale, whilst rather higher
rates were obtained, making an advance for the week of
'6.1, and in some cases is per cwt. Tne purchases are 752
hhds, &c., including at auction 43 hhds 3 tierces, and
172 barrel's Barbadoes, which sold, fine yellow at 40s
6d to 42s 6d. low to good 35s 6d to 393 61, one lot
brown 345, 10 barrels Kitt's•low and middling yel-
low 35s to 375; 2 hbds 20 barrels Antigua good brown
34s 6.1, ord and rnidd yellow 353 to 375, and 39 tierces
of Jamaica, good yellow 38i to 393, and midd 36s to
36's 6d per cAt.
1114:FINED.—To-day refined goods wero in excellent
demand for home trade purposes; and fair to good gro-
cery lumps realised 50s to 525. The market is firm for
crushed Sugar at farmer rates. _ _

MAIIIIITIUS.—This afternoon the demand was active
fur Mauritius Sugar. and an advance of 6d per cwt took
pia•:e. At auction 1863 bags sold; good and fine yellow
at 37s 6d to 394 Gd, low to mid 35s to 375, good and fine
brown 33s to 34s 6:1, and inferior at 29s to 31W.
EAST INDIA.—This afternoon the public sales of 4,733
bags of Bengal Sugar went briskly at 6d per cwt ad-
vance; midd to gond white Benares realised 39s to 41s,
low 381 to 38s 6d, ord to good soft yellow 32s 6d to 355,
better sorts 36s to 375, good and fine dry yellow 40s to
42s sa per cwt.

FOREIGN.—The market has still an improving appear-
ance and a very favourable opinion is entertained as to
future events in connexion with foreign Sugar. There
has again been an axtensive demand here for yellow
vannah from exporters, and 6d advance ha; been paid. The
full operations amount to 15,000 chests at from 20s to 23s
for low to fine quality. 200 chats Bahia white 2186 d, brown
188 6d. At suction 494 boxes of white .Elavannsh
sold, good to fine at 31s to 33s 6d, mid 29a te 335, and
washed 28s to 28s 6d per cwt. Ia other descriptions
sales to a fair ext,nt were made, and the prices paid
were rather above Friday last. For refining under
bond a good demand has existed this week. At auction
511 hhds, 197 barrels Porto Rico were disposed of, fine
yellow at 41s to 41s 6d, good. 39s to 40s 6d, low and mid
363 to 385 6d, brown 34s 6d to 35s 6d; 1,042 chests
yellow Bavannab, fine 40s to 425, mid and good 38s 6d
to 39s 6d, low 37s 6d to 38s, washed 36s to 40s, and two
small lots very ordinary brown 345; -199 cases, 40 hxs,
122 bgs Bahia in part sold, low to fine brown 32s to 365,
yellow 36s 6d to 37s 6d, and low white 38s to 40s per
cwt. Of Manilla 10,000 bags were sold privately at 35s
61 to 36s 6d.

MOLASSES.—Prices are not higher for West India,
still purchases to a fair extent have been made—Antigun
realised 15s, St. Vincent's and Trinidad 133 to 148 per
cwt. East' India is only worth lls to 12s, but demand
is getting better, and supply is on the increase.
COYFEE.—Tu-day there was mach dullness in the
Coffee market, and 408 6d to 41s is the value of good
ord Native Ceylon. At auction 591 brls and 27 bags
Porto Rico were taken in at 45s 6d to 49s for good fine
ordinary. and 200 bags Java were withdrawn. The only
public sale of Coffee at present declared for next week is
peectecdcotoA......beian,ren.
voiuonuceds
tcrpmrisor
atroethriitqt
utiimreed for Foreign,
.
1,000 bgs Bahia; but several parcels of Ceylon are ex-
but at the same time little desire is evinced to do busi-
ness. At auction 93 bags Bahia were taken-in at 28s 6d
for red. adders of West India still have confidence,
and refrained from 'submitting any to public sale. Ope--
rations have been to a fair extent by private treaty. Red
Trinidad at 42s to 475, grey 39s to 43; and Grenada"
from 38s to 468 per cwt.
TEA.—Tbe advanced rates of last week are well sup..
ported for ordinary and medium sorts of Congou; opera-
tions are also upon a large scale at 11d
to Is 2d per lb,
increased. A fair business hats
been transacted in good and fine at 1s 2d
to is Bd, and the market is firm. Breen Tea
continues to meet with much attention, and late
terms are well kept up, more especially fur the lower
sorts. Scented and Pekoe Teas realised stiff rases, and
met with a good sale. On Tuesday 4,400 pkgs of Tea
were offered at auction, and 800 sold. To day the public
sales of Tea went with fair spirit, and of 3,269 pkgs
offered 1,280 sold at firm rates.
SPIRITS.—In Jamaica Rum sales have been upon a
large scale, at rather higher rates. The purchases are
300 puns, plain quality 31 to 36 over at 2s 6d to
2s Bd, 33 to 35 over better sort 3s to 3s 43, 34 to 38
over fine 3s 6d to 4s; East India met with a good
demand, and 500 puns sold at is 3d to is 3kel
proof. Leeward met with more attention, and the
sales are 200 puts at is 4id to is 5d proof. Of Deme-
rara several Parcels acre sold at 2s to.2a 3d for 30 to 40
over proof. A Government contract for 100,000 galls
-Edel iteeleolared tor-next Vlanradar. .Brandy. bp. bell