The Sun.
London, England, 1844-02-15 00:00:00

ment, over which the Directors had control, was as
nearly as possible proportionate to the increase in
those which were beyond their power, or about 7,5001.
When the Directors undertook a revision of the expenditure,
last year, they led the Proprietors to think that they would be
able to effect a reduction of about 11,0001. But for this increase
of public charges, there would, in fact, have been a reduction
of about 15,0001. The increase chiefly consisted of parochial
rates—an increase, not only enormous in amount, but perfectly
unjustifiable in principle.—( Hear, hear.) There was no
reason why railways, of all commercial enterprises in this
country, should alone be subjected to assessments upon the
profits of their trade.—(Hear, hear.) The grievance was
so unjust and intolerable, that they must endeavour to obtain
redress from the Legislature. The total amount which they
now paid in the form of duties, of parochial rates, and of in-
come-tax, was about 64,0001. From the accounts there
appeared to be 116,820/. applicable to such pur-
poses as the Shareholders might be pleased to di-
rect. The Directors recommended a dividend of Three
per Cent. for the last half year, which would require 102,6781.,
and would leave a balance of 14,1421. The Directors con-
sidered that this balance was not more than suffi-
cient to enable them to ensure a dividend of Three
per Cent. for the next half year, and, therefore,
it was that they proposed to retain that sum. He hoped that
the income of the current half-year would exhibit a further in-
crease, but for any material improvement, they must now look
to the completion of the branch lines. The Report of Mr.
Brunell as to the state of the works on these lines would, he
thought, prove highly satisfactory. There could be no doubt
that the Bristol line, as far as Exeter, and their own line as far
as Oxford, would be opened in the early part of the ensuing
year ; and that the line to Cheltenham and Gloucester would be
opened in ample time to fulfil the requirement of the law, which
limited the period to June,
.1845. The project for the exten-
sion of the line from Exeter to Plymouth was also advancing
satisfactorily. At the last meeting the Directors were em-
powered to raise 150,0001. towards that undertaking. In order
to secure the passing of the Bill in the present session, it became
necessary that the railway companies interested in its com-
pletion should contribute a larger amount. The Directors had
taken upon themselves the responsibility of raising 475 shares
at 501. each, and of course they would dispose of those shares as
soon as possible. In Cornwall a very earnest wish had
been manifested for the continuation of the line towards Fal-
mouth. He hoped the period was not remote when the line
would be continued as far as Falmouth. The works at Swin-
don were now completed. There was one subject
connected with that great establishment which he
was sure would be interesting to the Proprietors ;
he referred to the religious instruction of the men and the useful
and moral education of the children.—(Cheers.) In deference
to the religious feelings of a portion of the Proprietors, the
Directors had thought that the best mode of accomplishing
this object was that of private subscription. The amount
which had been received by subscription for the church
was about 4,6001., without taking into account the assistance
which they might expect from those bodies, which were in-
corporated for the purpose of promoting Church building. The
amount raised for schools exceeded 6,000/. The Directors
still required further aid, however, from the munificence
of the Shareholders. Besides the religious instruction of the
workmen, and the education of their children, the Directors
thought there was no better way of obtaining a sober, industrious,
happy, and contented class of workmen than by giving them
the means of innocent recreation.—( Hear.) A library had been
established by subscription amongs the workmen themselves,
and the Directors felt it to be their duty to encourage this de-
sire in the workmen for their own improvement. The Direc-
tors wese in treaty for the purchase of a piece of ground for the
purposes of cricket and other manly sports.—( Cheers. )
He hoped that those Proprietors who, from conscientious
scruples, were unable to contribute to the building of the
church, would contribute now to this object, against which no
such scruples could be alleged.— ( Hear, hear.) There was one
subject which now excited considerable attention among those
interested in railways—he meant the inquiry in relation to
them which was now pending in the House of Commons. If
he abstained from making any remarks upon this subject, his
silence proceeded only from a sense of the delicacy of his po-
sition as a member of the Committee. He believed that
the Government were disposed to deal with railway interests
in a fair and friendly spirit.—(Cheers.) He should go to the
inquiry deeply impressed with the magnitude of the interests,
and the vital importance of the principles involved in the
investigation—on the one hand, desirous of giving a libe-
ral and just consideration to the claims of the public,
and on he other steadily watching the legitimate interests of
railway proprietors.—( Cheers.) Several resolutions would
have to be proposed after the Shareholders had resolved them-
selves into a special meeting for the purpose of considering
them.

The secretary then read the report.
Mr. WISIIAW, in moving the adoption of the Report, com-
plained of the inefficient accommodation for third class pas-
sengers, and suggested that a day train should be established
for that class of persons.
Mr. NicnoLsoN seconded the resolution. With reference
to the subject referred to by the Hon. Proprietor who had just
spoken, he begged to say that in consequence of the complaints
which had been made, he had himself travelled by a third-class
carriage on this line, and he found no reason whatever to com-
plain of any inconvenience.---( Hear, hear.)
Mr. Wztua sts, M.P., concurred with the mover of the
resolution in the view which he had taken of this subject ;
and stated that if the Directors did not make some alteration
in the present arrangements, he should himielf make a pro-
posal upon the subject.
Mr. VOUSLEY deprecated any interference with the Direc-
tors as regarded this matter. The poor were in a better con-
dition now than under the old coach system ; and if the Share-
holders interfered the result would probably be that they
would, by-and-bye, have to complain of low dividends.
Several other Proprietors expressed their opinions on the
same subject.
The CHAIRMAN, in reply, contrasted the accommodation
now afforded for third class passengers with the most expen-
sive and luxurious mode of travelling formerly known to
them, namely, the outside of a stage coach, where they were
exposed to all the inclemency of the weather ; while by far the
greater number were either compelled to walk, or jolted along the
road, at the rate of two or three miles an hour.—( Hear, hear.)
At all events, he hoped the Proprietors would not interfere
...to, after the inquiry before the Committee of the House of
Commons had been completed, and the evidence had been laid
before the public.—( Hear, hear.)
After a short conversation, the motion for the adoQt-
the report was pat and carried.
Mr. WILLz sus. M.P.. moved the following resolution :
" flat it is the opinion of this meeting that a ,nt of tne
receipts and expenditure of this Company should be sent to
each Proprietor four days previously to each half-yearly
meeting.'

Mr. IVlstntw seconded the resolution.
After some discussion the resolution was withdrawn.

A resolution was then passed declaring a dividend of 3 per
cent. upon, the profits of the last half-year.
A resolution was then proposed for the purpose of procuring
an amicable settlement of the differences of this Company with
the Birmingham and Gloucester Companies. •
A resolution was also passed for the construction of a branch
line between Twyford and Basingstoke.
The four retiring Directors were then re-elected.
The meeting then resolved itself into a special meeting,
for the purpose of considering the propriety of applying to Par-
liament for a Bill for making a railway from the Great
Western Railwaylat Pangbourne to the town of Newbury;
and a resolution in accordance with that object, and generally
with the other objects stated in the notice paper, was passed,
after some discussion.

A vote of thanks was then given to the Directors, after
which the meeting separated.

TATTERSALL'S.-THIS EVENING
QUARTER TO SIX O'CLOCK.
CHESTER CUP.
14 to 1 agst The Prior
16 to 1 agst Merry Andrew
20 to 1 agst Freedom
25 to 1 agst Pagan
25 to 1 agst What.

DERBY.

11 to 2 agst Ugly Buck
7 to I agst Rattan
16 to 1 agst Orlando
17 to 1 agst Leander
20 to 1 agst Cockamaroo
25 to 1 agst T'Auld 'Squire
35 to 1 agst Loadstone
Very little doing.

IMPERIAL PARLIAMENT

(THIS EVENING.)

H OUSE OF LORDS.

Their Lordships met at Five o'Clock.
The Duke of RICHMOND presented a petition from Chi.
ehester:against the union of the sees of St. Asaph and Bangor.
THE CATHOLIC OATH.
Lord STOURTON withdrew the motion, of which he had
given notice, for bringing under the consideration of their
Lordships the construction of the Roman Catholic Oath.
LORD DUNDONALD'S INVENTIONS.
Lord BROUGHAM postponed the motion, of which he had
given notice, respecting the petition presentecl by Lord Dun-
donald.
Lori MINTO took that opportunity of bearing testimony
to the value of one of the inventions of the Noble Lord—an
improvement in the application of steam machinery to vessels
of war. It had been subjected to a trial of four or five years,
and the experiment had been highly satisfactory, both as to
its operation and durability.
POOR-LAW UNIONS.
The Bishop of EXETER gave notice that be should
to-morrow move for a Select Committee to consider the expe-
diency of making some provisions for religious worship and
spiritual instruction in the poor-law union houses both in
England and Wales.

TURNPIKE TRUSTS.