The Sun.
London, England, 1850-10-26 00:00:00

Price h.; by post, Is. 4d.

.ROYA L POLYTECHNIC INSTITUTION.
Lecture on the Ballad Music of England, by Mr. George Bar-
ker, with illustrations from the most popular Composers every Even-
ing (except Saturday) at Eight o'clock.—Lecture on the Hydro-
Electric Machine, by Dr. Bachhoffner.—Lecture on Chemistry by J.
H. Pepper, Esq., illustrating he Ancient Fiery Ordeal and the IslaiV-
ling of Red list Nlctals.—Model of Weston's Patent Nova-Motive
Railway, at work daily.—Dissolving Views illustrating some of the
Wonders of Nature, daily at Half-past Four, and in the Evenings
at a Quarter to Ten; also a Series, exhibiting Scenes in the Arctic
Regions and Ceylon, daily at One o'clock.—Diver and Diving-bet',
&c., &c.

•
Admission, Is.—Schools, Half-price.
Open daily from Eleven till Five o'clock, and every Evening (ex•
cept Saturday) from Seven till Half-past Ten.

ARGYLL ROOMS, GREAT WINDMILL-
STREET, ST. JAMES'S.
Licensed pursuant to Act of Parliament of the 25th et King Gorge

the Second.
(Sole Lessee, Charles Emile Laurent, jun., 57, Brompton-separe.)
LAURENT'S CELEBRATED AND UNRIVALLED BAND !
Principal Cornet-a-Piston. M. Boulcourt, from Part, and Artiste
Attache to M Strauss' Orchestra at the Baths of Vichy, France.
As this elegant and popular resort of fa lion is now duly
LICENSED by ACT of PAIILIAMENT,

CONCERTS
will be produced. in addition to dancing. The new lessee pledges
himself that nothing shall be wanting on his part to render this
establishment worthy the distinguished patronage and support it has
hitherto been honoured with, and respectfully solicits a continuance
of those favour.;, which it will ever be his study to deserve.
l)oors open every evening at Half-past Eight —Dancing to commence
at Nine precisely.—Admission, One Shilling.
N.B. Particulars of the Concerts will shortly appear.

RAIL WAY INTELLIGENCE.
SOUTH-WESTERN.
Yesterday a special genetal meeting of the share-
holders was held in the company's board-room, at Nine
Elms, Vauxhall. 'rho chair was taken at twelve
o'clock by W. J. Chaplin, Esq., M.P.
The Secretary then read the report, with respect to
which the special general meeting had been summoned.
At the request of the Chairman the Secretary made
a resolution setting forth with more particularity than
had been stated in the report the various items with re-
spect to the Taw Vale Railway.
The Crmainare then stated that he did not feel
called upon to make any observations with respect to
the report. The first resolution that had to be proposed
was that it should be received and entered upon the
minutes.
Mr. RAY, on the part of of the Lancashire share-
holders, was prepared to agree to the expenditure
proposed. The small attendance of proprietors at that
meeting showed that there was no indisposition to act
upon the suggestions of the directors. lie seconded the
motion for the reception of the report.
The motion was passed with one dissentient.
The second resolution, which was to the effect that
the directors be authorised to proceed with the branch
to Alton on the terms stated in the report was then
moved.
Mr. TAYLOR seconded the resolution.
Sir E. JARVIS was opposed to this resolution. At
their last meeting some very strong observations had
bee❑ made as to the closing of the capital account; and
at the same time observations had been made as to the
injury that had been done to the company by the exten-
sion of branch lines. Instead of these branch lines being
feeders to the whole line, they had proved to be ex-
hausters to the main line.—(Bear.) Any extension,
then, of a branch line in the present depressed state of
the company appeared to be unnecessary.—(Hear.) In
the last few mouths there had been a little increase to
their traffic, and their dividends were, probably, better;
but upon such a little "spurt" as this, as he might call
it, they were not to venture upon so important an under-
taking as that now proposed to them. Then let them
look to their liabilities for steam navigation. As pro-
prietors they were only losers, whilst their directors
stood in the light of holders iu steam companies.
The CHAIRMAN called Sir E. Jarvis to order. The
subject now mooted was nut one for discussion at a spe-
cial meeting.

A PROPRIETOR considered they had a right to discuss
the whole policy of the company.
A second PROPRIETOR remarked it was a special sub-
ject for a special meeting.
Sir E. JARVIS considered it was important for them
to know whether they were in a position to proceed with
a branch line. They had expended 50,0001 on steamers.
What had become of tha rotten steam-boats ? They
had f,rmed branch lines and had no profits from them.
Was it not folly then to proceed with others? It was
only ruining themselves. With 80 miles of railway
alone their revenue was nearly as gr.( at as with their
numerous branches. Their dividends were decreasing
and their liabilities were increasing. Why, then, per-
sist in going on i❑ this way head over heels ? Why
perpetuate u system that must end in a general break-up?
Mr. Sergeant GASELEE remarked that their usual
time of meeting was in November; why was this mee'-
ing held at a time when so many proprietors must be out
of Londo❑ ?

The CHAIRMAN replied that they had to give notices
to Parliament, which would admit of no further delay.
Mr. Sergeant GASELEE continued by saying that he
regarded their proceeding further with any branch lines
as an absolute act of madness. Their line to Guildford
and Farnham and Alton vvou!d not pay ono farthing.
He remembered when the branch was first proposed
there was a great boast made to them of Crowley's
Alton ale.—(Laughter.) Where did Alton lead to ?
to Basingstoke—but they had a station at Basing-
stoke; but then it might be said, Alton led to Win-
chester, and they had already a station at Winchester.
He complained of the directors that they did not turn
their attention to the closing of the capital account.
They ought to do this now, tor they had already esta-
bli,hed their reputation in making branch lines which
paid nothing.—(Laughter.) Let them, he said, be satis-
fied with the first loss. lie called upon the proprietors
to resist this proposition—it wns au attempt to get the
wedge in. There were many interested in getting up
these lines and incurring these expenses, and such would
support the propositions. lie now moved, as an amend-
ment, " That this me, tiny; regrets that the directors have
not realised the hopes given in their financial statement
of November, 1848, and rt quests the immediate atten-
tion of the board to so desirable an object."
Mr. PORTER seconded the amendment.

Mr. TRIMMING opposed the amendment. Although
not a resident of Alton, he knew something of its posi-
tion. Its population was about 4,000, and within a cir-
cuit of eight miles round it there wore some 20 or 30
villages, making in all a population of about 20,000.
The people of Alton had been promised a branch line,
and if this company did not fulfil the promise, the South-
Eastern Company would, and then they might feel the
loss of letting an enemy into their country. They did
not know what amount of damage it might cause them.
He believed the directors had decided wisely in pro-
ceeding with the Alton branch.
A PROPRIETOR called upon the chairman to explain
their position with respect to this branch. Were the di-
rectors all agreed about it?

The CHAIRMAN said that he believed all his colleagues
in the board felt frith him on this subject. He would
freely say this—that if they had to begin that day the
Alton line would not be contemplated. But they were
now differently circumstanced, for if the uncompleted
portion of the line were now abandoned the company
would have to pay a considerable sum in making settle-
ments with the contractors and landowners, in addition
to the 49,0001. which had been alreaoy expended.—
(Hear.) It had been proved before Parliament that
there was traffic enough to pay for a double line, and
now it was proposed to finish the line so as to make
productive what bad been spent. Unfortunately, the
Ileadiug and Reigate line had been taken up by the
South-Eastern Company, and ho had reason to believe
it had proved an unproductive line. It had been frankly
admitted to him by the chairman of the company
that it would be their business to prove themselves
troublesome neighbours to the South-Western, so
as to induce it to take up their line. If the Alton
line, under those circumstances, were not taken up by
this company, it would be proceeded with by that, and
that, too, when the latter had everything to gain,'and
the South-Western everything to lose.—(Hear.) If they
had to begin with it that day he was sure the di-
rectors would not listen to any such proposition. With
these explanations he left the matter in the hands
of the proprietors to deal with it as they thought
proper, and to say whether any money should be ex-
pended or not.—(Hear.)
A PROPRIETOR considered that the extension to Alton
was one of the most mischievous propositions that could
ever come before them. The real intention was to go
on to Chichester, and consequently to Portsmouth. lie
maintained, too, that it was not a single line that was
contemplated, but a double line.
The amendment of Mr. Sergeant Gaselee was then
of it. The original reselation was then put and carried,
put and negatived, as ten proprietors only voted in favour
threeu r. only
Sergeant voting
GaL EaEinesEtit.proposed the adjournment
of the poll to a future day--s proposition which, on
the recommendation of Mr. Hay, to subsequently
withdrew.

The next resolution, expressive of the approval of the
propositions reqcoting the arrangenaents with the Taw
Vale Railway Company, was met by an amendment on
the part of Mr. Sergeant GASELEF, that "a committee
be appointed to consider their relations with the Taw
Vale Railway, and to report to a future meeting on the
subject."

••• - -
The CHAIRMAN stated that there was no time for
that adjournment, as notices were to be given to Par-
liament.
Mr. sergeant G. ASELEE contended that an injunction
would stop their proceeding altogether. They had
already advanced 70,000/. to a company that he believed
to be irretrievably baukrupt. lie thou recapitulated